Tesla stock split, Peloton earnings, Fed Jackson Hole symposium top week ahead
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Investors are bracing for another busy week of corporate earnings and economic data focused on housing and the consumer. The coming week will also be big for investors in AMC Entertainment, which will debut its APE shares, and Tesla, which will begin trading in a 3-for-1 stock split.
| ticker | security | Last | change | change % |
|---|---|---|---|---|
| Me: DJI | DOW JONES AVERAGES | 33706.74 | -292.30 | -0.86% |
| SP500 | S&P500 | 4228.48 | -55.26 | -1.29% |
| I: COMP | NASDAQ COMPOSITE INDEX | 12705.215054 | -260.13 | -2.01% |
On Friday, the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite ended the week lower as fears of a September Fed rate hike resurfaced. The Dow lost nearly 300 points that day.
FOX Business takes a look at the upcoming events that are expected to move financial markets in the coming days.
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Monday 22.8
Palo Alto Networks and Zoom Video Communications start the week with earnings after the bell. Investors will also consider the Chicago Federal Reserve’s National Activity Index.
| ticker | security | Last | change | change % |
|---|---|---|---|---|
| PANW | PALO ALTO NETWORKS INC. | 513.51 | -4.34 | -0.84% |
| ZM | ZOOM VIDEO COMMUNICATIONS INC. | 99.50 | -3.68 | -3.57% |
In other Fed news, Lorie Logan will take over as President of the Dallas Federal Reserve. She replaces Robert Kaplan, who resigned from his position in October following a controversy surrounding the stock trading.
| ticker | security | Last | change | change % |
|---|---|---|---|---|
| AMC | AMC ENTERTAINMENT HOLDINGS INC | 02/18 | -1.42 | -7.31% |
In addition, AMC’s preferred stock is scheduled to trade on the New York Stock Exchange under the ticker symbol APE. Each APE unit represents one-hundredth interest in one share of AMC’s Authorized Convertible Series A Participating Preferred Stock. AMC will issue one APE unit as a dividend for each common share.
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Tuesday 23.8
Revenue will surge Tuesday with Dick’s Sporting Goods, Dole PLC, JM Smucker, JD.com, Macy’s and Medtronic ahead of market open and Advance Auto Parts, Intuit, La-Z-Boy, Nordstrom, Toll Brothers and Urban Outfitters after market open Bell jar.
| ticker | security | Last | change | change % |
|---|---|---|---|---|
| DCS | DICK’S SPORTING GOODS INC. | 111.05 | -1.42 | -1.26% |
| DOLE | DOLE PLC | 9.10 | -0.08 | -0.87% |
| SJM | THE JM SMUCKER CO. | 139.89 | +0.57 | +0.41% |
| JD | JD.COM INC. | 54.70 | -0.49 | -0.89% |
| M | MACY’S INC. | 19.40 | -0.92 | -4.53% |
| MDT | MEDTRONIC PLC | 95.00 | -0.26 | -0.27% |
| AAP | ADVANCE AUTO PARTS INC. | 207.02 | -0.47 | -0.23% |
| INTU | INTUIT INC. | 463.95 | -13.80 | -2.89% |
| LZB | LA-Z-BOY INC. | 29.47 | -0.77 | -2.55% |
| JWN | NORTH STREAM INC. | 24.18 | -0.36 | -1.47% |
| TOL | TOLL BROTHERS INC. | 47.26 | -1.74 | -3.55% |
| URB | URBAN OUTFITTER INC. | 22.33 | -0.71 | -3.08% |
Housing construction will be the focus of economic data on Tuesday with new home sales and building permits. Minneapolis Fed President Neel Kashkari will also participate in a Q&A session at a Wharton Minnesota Alumni Club meeting.
Wednesday 24.8
Petco and Brinker International will be in the spotlight for gains ahead of Wednesday’s market open. Autodesk, Box, NetApp, Nvidia, Snowflake, Splunk and Victoria’s Secret will deliver winning results after the bell.
| ticker | security | Last | change | change % |
|---|---|---|---|---|
| SHOT | PETCO HEALTH AND WELLNESS COMPANY INC. | 15.88 | -0.85 | -5.08% |
| MEAL | BRINKER INTERNATIONAL INC. | 31.64 | -1.64 | -4.93% |
| ADSK | AUTODESK INC. | 222.59 | -6.27 | -2.74% |
| CRATE | BOX INC. | 30.36 | -0.60 | -1.95% |
| NTAP | NETAPP INC. | 74.29 | -1.20 | -1.59% |
| NVDA | NVIDIA CORP. | 178.49 | -9.24 | -4.92% |
| SNOW | SNOWFLAKE INC. | 153.94 | -7.81 | -4.83% |
| SPLKVSCO | n / A | n / A | n / A | n / A |
On the economic data front, investors will digest durable goods, pending home sales, weekly mortgage applications and the Energy Information Administration’s weekly Crude Oil Inventories.
| ticker | security | Last | change | change % |
|---|---|---|---|---|
| WHEEL | RITE AID CORP. | 7.71 | -0.85 | -9.99% |
Rite Aid will also host a virtual event where President and Chief Executive Heyward Donigan and Chief Financial Officer Matt Schroeder will answer questions from private shareholders.
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Thursday, 25.8
To wrap up the week, Abercrombie & Fitch, Burlington Stores, Coty, Destination XL Group, Dollar General, Dollar Tree, Gap, Hain Celestial Group, Peloton Interactive, and Shoe Carnival will be in place ahead of Thursday’s market opening.
| ticker | security | Last | change | change % |
|---|---|---|---|---|
| ANF | ABERCROMBIE & FITCHCO. | 20.58 | -0.65 | -3.06% |
| BURL | BURLINGTON STORES | 163.35 | -5.63 | -3.33% |
| COTY | COTY INC. | 7.50 | -0.32 | -4.09% |
| DXLG | TARGET XL GROUP | 4.39 | +0.09 | +2.09% |
| DG | DOLLARS GENERAL CORP. | 253.86 | -3.80 | -1.47% |
| DLTR | DOLLAR TREE INC. | 167.68 | -0.37 | -0.22% |
| Geographic Positioning System | GAP INC. | 10.10 | -0.76 | -7.00% |
| HAEN | THE HAIN CELESTIAL GROUP INC. | 25.45 | +0.65 | +2.62% |
| PTON | PELOTON INTERACTIVE INC. | 11.71 | -0.95 | -7.50% |
| SCVL | SHOE CARNIVAL | 25.44 | -0.18 | -0.70% |
Meanwhile, Dell Technologies, Marvell Technology, Ulta Beauty, VMware and Workday will be the gains to watch after the bell.
| ticker | security | Last | change | change % |
|---|---|---|---|---|
| Dell | DELL TECHNOLOGIES INC. | 47.67 | -1.27 | -2.60% |
| MRVL | MARVELL TECHNOLOGY INC. | 53.14 | -1.41 | -2.58% |
| ULTA | ULTA BEAUTY INC. | 403.25 | -6:00 am | -1.47% |
| VMW | VMware Inc. | 121.58 | -0.86 | -0.70% |
| WTAG | WORKDAY INC | 168.18 | -4.95 | -2.86% |
Economic data on the list includes corporate earnings, the second estimate of GDP and the latest initial and standing jobless claims.
The Federal Reserve will also host its annual symposium in Jackson Hole, Wyoming, which will bring together prominent central bankers, finance ministers, academics and financial market participants from around the world. This year’s meeting, titled “Reassessing Constraints on the Economy and Policy,” will run until August 27.
| ticker | security | Last | change | change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 890.00 | -18.61 | -2.05% |
In addition, Tesla’s shares trade as part of the 3-for-1 stock split. Each shareholder of record on August 17 will receive a dividend of two additional common shares for each share held after the close of trading on August 24.
Friday, 26.8
Rounding out the week of economic data are the University of Michigan Personal Consumption Expenditure (PCE) Price Index and Consumer Sentiment Index.
| ticker | security | Last | change | change % |
|---|---|---|---|---|
| UBSI | UNITED BANKSHARES INC. (WEST VIRGINIA) | 39.93 | -0.29 | -0.72% |
Friday also marks the last trading day for United Bancshares before its voluntary delisting from Nasdaq. The Company has taken steps to have its shares listed on the OTCQX market on or about August 29 under the ticker symbol UBOH.