Stocks To Watch: All Eyes On Tesla Battery Day

Welcome to Seeking Alpha’s Stocks to Watch – a preview of key events scheduled for the next week. Follow this account and turn the e-mail alert on to receive this article in your inbox every Saturday morning. A podcast of Stocks to Watch is also available on Sundays on Seeking Alpha, Apple Podcasts, Stitcher and Spotify (click the highlighted links).

Tesla (NASDAQ:TSLA) will take top billing this week with its highly-anticipated Battery Day event having the potential to charge up animal spirits in the market again. The earnings calendar features high-flyers Nike (NYSE:NKE) and Costco (NASDAQ:COST), while Apple (NASDAQ:AAPL) will be on the radar as it launches its first online store in India and Nikola (NASDAQ:NKLA) will be looking for a calmer week. On the macro scene, Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin will testify before Congress twice.

Earnings spotlight: AutoZone (NYSE:AZO), Aurora Cannabis (NYSE:ACB), Stitch Fix (NASDAQ:SFIX) and Nike (NKE) on September 22; General Mills (NYSE:GIS) and Cintas (NASDAQ:CTAS) on September 23; Darden Restaurants (NYSE:DRI), Jabil (NYSE:JBL), Rite Aid (NYSE:RAD), CarMax (NYSE:KMX) and Costco (COST) on September 24.

IPO watch: IPO pricings are expected for Corsair Gaming (CRSR), GoodRx (NASDAQ:GDRX), RiverNorth Flexible Income Fund (NYSE:RFM) and Amesite Operating (AMST). Of the bunch, Corsair may generate the most interest with the gaming sector heating up. The California-based provider of gaming gear and content is aiming to sell up to $252M worth of shares to value the company at up to $1.65B. Also, keep an eye on TELA Bio (NASDAQ:TELA) next week, with 34% of its outstanding float being freed up through the expiration of an IPO lock-up period. Across the Pacific in Hong Kong, secondary share offerings are expected to start trading for ZTO Express (NYSE:ZTO), Zai Lab (NASDAQ:ZLAB) and Baozun (NASDAQ:BZUN), while SoftBank (SFTNY) aims to hand over shares between September 23-25 for its secondary offering of its telcoms business. Go deeper: Catch up on all the latest IPO news.

M&A tidbits: The Majesco (NASDAQ:MJCO)-Thoma Bravo deal is expected to close on September 21. InnerWorkings (NASDAQ:INWK) shareholders vote on the HH Global buyout on September 24. Illumina’s (NASDAQ:ILMN) deal to buy cancer-discovery startup Grail for more than $8B could be officially announced. Anheuser-Busch InBev (NYSE:BUD) will be sized up after landing DOJ clearance to acquire Craft Brew Alliance (NASDAQ:BREW).

Battery teardown time: Tesla (TSLA) holds its annual shareholder meeting on September 22 to be immediately followed by the highly-anticipated Battery Day event. Expectations are that Tesla will reveal plans to ramp up battery capacity, show off improved cell chemistry/performance and highlight how the cost curve could spiral downward. Wedbush Securities expects a home run from Elon Musk and gang. “We believe the company is getting closer to announcing the million mile battery at this highly-anticipated event. In our opinion this battery technology will be very advanced, potentially last for decades, withstand all types of weather/terrain, and be another major milestone for the Tesla ecosystem,” writes analyst Dan Ives. Panasonic (OTCPK:PCRFY) will be on edge to see if Tesla tips off a goal to become battery independent over time. Other stocks to watch around the event include the usual EV auto suspects like Nio (NYSE:NIO), Li Auto (NASDAQ:LI), Xpeng (NYSE:XPEV) and Kandi Technologies (NASDAQ:KNDI). There is also Glencore (OTCPK:GLCNF,OTCPK:GLNCY) to keep tabs on just in case Tesla pulls out a wildcard with its cobalt plans. Strap in for some fun.

Spotlight on Nike: Expectations are high for Nike (NKE) heading into the FQ1 earnings report, with the China business expected to show strong growth and e-commerce continuing to support sales in the U.S. Over the last few weeks, retailers like Dick’s Sporting Goods (NYSE:DKS), Foot Locker (NYSE:FL) and Hibbett Sports (NASDAQ:HIBB) have been spinning out positive updates on sales. Analysts expect Nike to report revenue of $9.00B and EPS of $0.46. Nike trades just off its 52-week high of $120.48.

Healthcare watch: Merck (NYSE:MRK) is hosting a Oncology Virtual IR Briefing on September 22. On the same day, vTv Therapeutics (NASDAQ:VTVT) is scheduled to present additional positive clinical study results from its Phase 2 Simplici-T1 study of TTP399. GlycoMimetics (NASDAQ:GLYC) GMI-1070 (rivipansel) is due to present biomarker data from its Rivipansel Phase 3 RESET trial during the Foundation For Sickle Cell Disease Research meeting from September 23-25. Also during the week, Vaxart (NASDAQ:VXRT) and Novavax (NASDAQ:NVAX) will present at the SVB Leerink: CybeRx Series – Vaccine Forum. Both companies are in the COVIF-19 spotlight. Go deeper: Check out Seeking Alpha’s Catalyst Watch for breakdowns on the events that stand out.

Notable speeches: Microsoft (NASDAQ:MSFT) CEO Satya Nadella will be the keynote speaker of the virtual version of the annual event. Gap’s (NYSE:GPS) Nancy Green will give a talk at the Recode Code Commerce @home event. As the head of the Old Navy business, Green is expected to update on the huge amount of mask sales the company is generating and pandemic trends with casual clothing and new online channels.

Investor meetings and business updates: News Corp (NWS, NWSA) will host a virtual Dow Jones Investor Day on September 21 featuring both the News Corp and Dow Jones CEOs. HubSpot (NASDAQ:HUBG) is due to hold its Analyst Day event on September 22 with a focus on the company’s products, performance, and financials. Intuit (NASDAQ:INTU) will host a half-day virtual investor event on September 23 with presentations from CEO Sasan Goodarzi, CFO Michelle Clatterbuck and other leaders. Michaels Companies (NASDAQ:MIK) is hosting a Virtual Investor Day on September 24 that will feature a strategic overview including updates on growth opportunities, new market opportunities and the capital allocation strategy.The Brookfield family of companies will hold an investor day event on September 24. Brookfield Asset Management (NYSE:BAM) will be the leadoff position to give an update on business conditions, followed in order by Brookfield Renewable Partner (NYSE:BEP), Brookfield Property Partners (NASDAQ:BPY), Brookfield Business Partners (NYSE:BBU) and Brookfield Infrastructure Partners (NYSE:BIP).

Lighting candles: SpaceX’s (SPACE) SN8 Starship rocket will take a test flight sometime next week, with plans to soar up to 60K feet and then return to Earth in a controlled landing. The launch will mark the first time three Raptor engines will be tested together as a single unit. SpaceX is tracking toward a final version of Starship that will feature six Raptors and be capable of carrying up to 100 people to the moon, Mars and other distant destinations. While SpaceX isn’t a publicly-traded stock, the company’s high-profile launches have helped draw interest into space-related names like Maxar Technologies (NYSE:MAXR), Virgin Galactic (NYSE:SPCE) and the Procure Space ETF (NASDAQ:UFO).

Conferences highlights: The Stephens Virtual Bank Forum that runs from September 22-24 will feature Ameris Bancorp (NASDAQ:ABCB), Enterprise Financial Services (NASDAQ:EFSC), Fulton Financial (NASDAQ:FULT), Pinnacle Financial Partners (NASDAQ:PNFP) and Univest Financial (NASDAQ:UVSP) among others. Oppenheimer is holding a fall summit focused on Specialty Pharma, Rare Disease and Gene Therapy. Some of the companies due to present include Sunesis Pharmaceuticals (NASDAQ:SNSS), Brainsway (NASDAQ:BWAY), Orchard Therapeutic (NASDAQ:ORTX), CohBar (OTC:CWBR) and Aldeyra Therapeutics (NASDAQ:ALDX). The Sidoti Virtual Conference running from September 23-24 will feature a large number of small-cap companies identified as high quality. Some of the notable presenters include Winnebago (NYSE:WGO), TrueBlue (NYSE:TBI), Lydall (NYSE:LDL) and Kforce (NASDAQ:KFRC). Finally, the Bernstein Strategic Decisions Conferences runs from September 23-24, with presentations from Novo Nordisk (NYSE:NVO) and Koninklijke Philips (NYSE:PHG) looking like the standouts. Go deeper: See Seeking Alpha’s Catalyst Watch for which presentations may stand out.

Stock splits: Northern Oil and Gas (NYSEMKT:NOG) will fire off a 1-for-10 reverse split on September 21. Shareholders authorized the company’s board to effect the reverse stock split, with 95% of the shares that voted approving the move, at the August 17 special meeting. The reverse stock split will reduce the number of Northern’s issued and outstanding shares from ~436.4M to ~43.6M.

Barron’s mentions: The shift by consumers to digital payments from cash during the pandemic is seen benefiting a long list of companies into the future. Digital pure plays PayPal (NASDAQ:PYPL) and Square (NYSE:SQ) are seen as long-term winners, as well as card networks/payment processors like Mastercard (NYSE:MA) and Visa (NYSE:V), Global Payments (NYSE:GPN) and Fidelity National Information Services (NYSE:FIS). Albertsons (NYSE:ACI) is profiled favorably as an undervalued sleeper and Nvidia’s (NASDAQ:NVDA) deal for Arm Holdings is broken down in detail. If all goes well, Nvidia is seen becoming the most important chip maker in the world.

Sources: EDGAR, Bloomberg, CNBC, Recode, Reuters

Editor’s Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.

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