October 6, 2022

Brighton Journal

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Tesla stock split, Peloton earnings, Jackson Hole Fed seminar topping next week

Tesla stock split, Peloton earnings, Jackson Hole Fed seminar topping next week

Investors are bracing for another busy week of corporate earnings and economic data focused on housing and the consumer. Next week will also be big for investors from AMC Entertainment, which will debut APE shares, and Tesla, which will begin trading shares under a 3-for-1 stock split.

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Me: DJI Dow Jones averages 33706.74 -292.30 -0.86%
SP500 Standard & Poor’s 500 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 rate hike by the Federal Reserve returned. The Dow lost nearly 300 points on the day.

FOX Business takes a look at upcoming events likely to move financial markets in the coming days.

Stock Market News: GM Update, Bed Bath and Beyond, Stock Slips

Monday 8/22

Palo Alto Networks and Zoom Video Communications will start the week with earnings after the bell. Investors will also take the Chicago Federal Reserve’s National Activity Index.

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bano 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, Laurie Logan will take over as Fed chair in Dallas. She replaces Robert Kaplan who quit the role In October after the stock trading controversy.

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AMC AMC ENTERTAINMENT HOLDINGS INC 18.02 -1.42 -7.31%

In addition, AMC’s preferred stock units are scheduled to begin trading on the New York Stock Exchange under the ticker symbol APE. Each APE unit represents one hundredth of AMC’s Series A convertible preferred stock. AMC will issue one APE as a dividend per share of common stock.

High Interest Rates: Why ETFs Are Good Investments During Tough Times

Tuesday 8/23

Earnings will rise on Tuesday with Dick’s Sporting Goods, Dole PLC, JM Smucker, JD.com, Macy’s and Medtronic before the market open and Advance Auto Parts, Intuit, La-Z-Boy, Nordstrom, Toll Brothers and Urban Outfitters after the bell.

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DKS DICK’S SPORTING GOODS INC. 111.05 -1.42 -1.26%
subvention DOLE PLC 9.10 -0.08 -0.87%
SJM JM SMUCKER COMPANY. 139.89 +0.57 + 0.41%
Dinar 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 Spare Parts Company 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 Nordstrom Corporation 24.18 -0.36 -1.47%
TOL Toll Brothers Co. 47.26 -1.74 -3.55%
URBN Urban Exhibitors Company 22.33 -0.71 -3.08%

Housing will be the focus of economic data on Tuesday with new home sales and building permits. Minneapolis Fed President Neil Kashkari will also participate in a question-and-answer session at the Minnesota Wharton Alumni Club meeting.

Wednesday 24/8

Petco and Brinker International will highlight earnings before the market opens on Wednesday. Autodesk, Box, NetApp, Nvidia, Snowflake, Splunk and Victoria’s Secret will provide earnings results after the bell.

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weft Petco Health and Wellness Company 15.88 -0.85 -5.08%
Eat Brinker International Corporation 31.64 -1.64 -4.93%
ADSK Autodesk Corporation. 222.59 -6.27 -2.74%
can INC Fund. 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 Company 153.94 -7.81 -4.83%
SPLKVSCO gh gh gh gh

On the economic data front, investors will be digesting durable goods, pending home sales, weekly mortgage applications and the EIA’s weekly crude oil inventories.

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rad RITE AID CORP. 7.71 -0.85 -9.99%

Rite Aid will also hold a virtual event where President and CEO Howard Donegan and CFO Matt Schroeder will answer questions from individual shareholders.

Click here to read more about FOX BUSINESS

Thursday 8/25

Closing the week for earnings will be Abercrombie & Fitch, Burlington Stores, Coty, Destination XL Group, Dollar General, Dollar Tree, Gap, Hain Celestial Group, Peloton Interactive and Shoe Carnival before the market opens Thursday.

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ANF Abercrombie & Fitch Company. 20.58 -0.65 -3.06%
BURL Burlington stores 163.35 -5.63 -3.33%
kotie COTY INC. 7.50 -0.32 -4.09%
DXLG Destination group XL 4.39 +0.09 + 2.09%
DJ Dollar General Corporation. 253.86 -3.80 -1.47%
DLTR Dollar Tree Inc. 167.68 -0.37 -0.22%
GPS GAP Company 10.10 -0.76 -7.00%
little HAIN CELESTIAL GROUP INC. 25.45 +0.65 + 2.62%
PTON PELOTON INTERACTIVE INC. 11.71 -0.95 -7.50%
SCVL carnival shoes 25.44 -0.18 -0.70%

Meanwhile, Dell Technologies, Marvell Technology, Ulta Beauty, VMware and Workday will be earnings to watch after the bell.

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Del DELL TECHNOLOGIES INC. 47.67 -1.27 -2.60%
MRVL Marvell Technology Co. 53.14 -1.41 -2.58%
ULTA ULTA BEAUTY INC. 403.25 -6.00 -1.47%
VMW VMWARE INC. 121.58 -0.86 -0.70%
day WORKDAY INC. 168.18 -4.95 -2.86%

Economic data on the agenda will include corporate earnings, a second estimate of GDP and the latest in initial and continuing jobless claims.

The Federal Reserve will also host its annual symposium in Jackson Hole, Wyoming, which will bring together leading central bankers, finance ministers, academics and financial market participants from around the world. This year’s meeting, titled “Reassessing Constraints on Economics and Politics,” will run until August 27.

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TSLA Tesla Corporation 890.00 -18.61 -2.05%

In addition, Tesla shares will begin trading under a 3-for-1 stock split. Each registered shareholder beginning August 17 will receive a dividend of two additional shares of common stock for each share held, which will be distributed after trading closes on August 24.

Friday 8/26

Ending the week with economic data will be the Personal Consumption Expenditure Expenditure (PCE) Price Index and the University of Michigan Consumer Sentiment Index.

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UBSI United Banks Corporation (West Virginia) 39.93 -0.29 -0.72%

Friday also marks the last day of trading for United Bancshares before its voluntary delisting from the Nasdaq. The company took steps to list its shares on the OTCQX market on or about August 29, under the ticker symbol UBOH.

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