Catalyst Watch: JPMorgan event, Best Buy earnings and McDonald's drama
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Welcome to Seeking Alpha's Catalyst Watch - a breakdown of some of next week's actionable events that stand out. Check out Saturday morning's regular Stocks to Watch article for a full list of events planned for the week or the Seeking Alpha earnings calendar for companies due to report.
Monday - May 23


Volatility watch - Options trading volume is through the roof again on Vinco Ventures (BBIG). Meanwhile, Walmart (WMT) and Home Depot (HD) are at the top of the list of most discussed stocks on Reddit's WallStreetBets and StockTwits as traders weigh how to play the retail stocks following their earnings reports. Citi Trends (CTRN), Wayfair (W) and Big 5 Sporting Goods (BGFV) all sit with a very high level of short interest outstanding with the retail sector expected to see more big swings.

All week - The conference schedule is headlined next week by the highly-anticipated. J.P. Morgan 50th Annual Global Technology, Media and Communications Conference. Notable companies making an appearance will include Visa (V), Intel (INTC), eBay (EBAY), Lyft (LYFT), Alphabet (GOOG), Verizon (VZ), Comcast (CMCSA), and Cisco (CSCO). The conference has led to some share price jumps in the past for presenters. Other conferences next week that could generate some buzz or guidance updates include the H.C. Wainwright Global Investment Conference, the UBS Global Healthcare Conference, the Cowen Future of the Consumer Conference, the Truist Securities Financial Services Conference, the Jefferies Automotive Aftermarket Investor Conference and the KBW Real Estate Finance & Technology Conference.

All day - The Zynga (ZNGA) buyout by Take-Two Interactive (TTWO) is expected to close. Microsoft (MSFT) is due to buy Activision Blizzard (ATVI) Take-Two in fiscal year 2023.

All day - Didi Global (DIDI) will hold an extraordinary general meeting to vote on its delisting plans in the United States. The Chinese ride-hailing giant has said it will not apply to list its shares on any other stock exchange before the delisting of its American Depositary Shares from the New York Stock Exchange was complete.

All day - JPMorgan Chase (NYSE:JPM) will hold an Investor Day with presentations by top management. Morgan Stanley expects JPM to use the event to explain why their tech investments make sense and why ROI will be positive. Other notable companies with investor events include Babylon Holdings (BBLN), Service Properties Trust (SVC) and Vista Outdoor (VSTO).

12:00 p.m. Atlanta Federal Reserve Bank President Raphael Bostic is scheduled to participate in a conversation on the economic outlook. Later in the day, Federal Reserve Bank of Kansas City President George gives a speech at an Agricultural Symposium.

Tuesday - May 24


All day - NXP Semiconductors (NXPI) CEO Kurt Sievers will deliver the keynote for the Computex 2022 CEO Keynote series. The keynote will focus on "Building the Foundation for Consistent Edge Experiences." AMD (AMD) CEO Dr. Lisa Su is also taking part in the CEO series. A total of six Nvidia (NVDA) execs are due to speak at Computex over the four days of the event. The high-profile trade show has led to analyst re-ratings and share price moves in the past.

All day - Microsoft (MSFT) will hold its three-day Build conference focused on code and application development. The company has used the event in the past to present the latest Windows roadmap plus any additions to Office, Azure, or other leading software/services.

All day - MicroStrategy (MSTR) CEO Michael Saylor and Marathon Digital Holdings (MARA) CEO Fred Thiel are two of the notable speakers at the DC blockchain summit.

All day - It will be an active day of investor events with management teams from Novartis (NVS), Talos Energy (TALO), Maximus (MMS), Avid Technology (AVID) and Summit Materials (SUM) all presenting to the expectation that updated guidance and strategy updates could swing shares.

All day - Shareholders with Haymaker Acquisition Corp. III (HYAC) meet to vote on the deal to combine with hormone therapy firm Biot in a SPAC deal.

Premarket -  Best Buy (BBY) is due to report earnings with options trading implying a share price move of 8% up or down. Arlo Technologies (ARLO) and GoPro (GPRO) move in tandem with BBY on earnings day 75% of the time.

Postmarket - Companies reporting earnings with a double-digit share prices move up or down implied by options trading include Urban Outfitters (URBN) and Nordstrom (JWN) out of the retail sector.

Wednesday - May 25


All day - Apollo Strategic Growth Capital (APSG) shareholders will meet to vote on the SPAC deal to combine with American Express Global Business Travel. PIP investors include HG Vora, Sabre (SABR), Zoom Video (ZM) and American Express (AXP).

All day - The go-shop period on the Blackstone (BX) deal to acquire PS Business Parks (PSB) expires.

1:00 p.m. CarGurus (CARG) will host an Investor Day event. The executive leadership team plans to address the companyâs strategic evolution, consumer and dealer value propositions, synergies, and financial outlook.

2:00 p.m. FOMC minutes will be released. Federal Reserve Chairman Jerome Powell has already laid out the game plan to raise rates 50 basis points at the next two meetings and subsequent Fedspeak suggests there is a strong consensus around that strategy. Bank of America says the minutes release could show a conversation around the potential level of neutral rates and the likelihood of having to set policy in a restrictive setting. The firm thinks most FOMC members agreed that rates would likely need to surpass estimates of neutral given high inflation.

Thursday - May 26


All day - It will be another busy day of guidance and strategy updates with NV5 Global (NVEE), Vroom (VRM), John Deere (DE), and Nurix Therapeutics (NRIX) all holding events. Analysts have the Vroom event circled as one that could spark a share price rally if the company successfully addresses profitability and liquidity concerns.

12:45 p.m. McDonald's (MCD) will hold its annual meeting and see shareholders vote on board nominees. A group of dissident investors including Trinity College, Cambridge and Carl Icahn are challenging the restaurant operator over its use of antibiotics in meat production. Icahn is pushing for two new board members at the company.

10:00 a.m. Arrowhead Pharmaceuticals Inc. (ARWR) will host a pulmonary research & development day to discuss its emerging pipeline of pulmonary targeted RNA interference therapeutic candidates. Shares of ARWR have rallied in the past after similar R&D days.

Friday - May 27


Premarket - Canopy Growth (CGC) reports earnings with options trading implying a share price swing of 15% after the report drops. Bank of America warned that lackluster adult use sales in Canada driven by competition, pricing pressures, store closures, and elevated COVID-related cannabis retail worker absenteeism cut could into the CGC numbers.

All day - Shareholders with Trepont Acquisition Corp I (TACA) meet to vote on extending the deadline for a business combination.