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6/24/18
Thomas Thornton
The Week Ahead - Key Events and Focus


Relatively quiet week on the corporate front highlighted by a few notable earnings releases from ACN, BBBY, CAG and NKE; as well as a handful of brokerage conferences.  I'll be watching closely Wednesday  GW Pharmacuticals  as the FDA (Federal Drug Administration) is set to approve epidiolex, or not. This follows the unanimous but non-binding recommendation to approve made by their advisory committee.  This would be a significant step for the medical Cannabis industry.

The domestic economic calendar for the week will start off with new home sales and durable orders in the front half of the week, with Chicago PMI and Michigan Sentiment at the end of the week. The foreign economic calendar sees Germany Ifo at the beginning of the week, with Japan CPI and Euro-zone CPI to round out the week.

S&P bullish sentiment ended the week at 59% down from a week earlier 72%.  After a couple weeks of sideways action, I'll be watching if the recent weakness globally intensifies.  China's PBOC cut the RRR Reserve Requirement Ratio by 0.5% today effective July 5th.  This will release 500 billion Yuan for the five big state banks and 12 national joint-stock banks, who are encouraged to use the money to conduct debt-for-equity swaps and release 200 billion Yuan for mid and small banks to increase lending to small and micro businesses.  Lastly, keep an eye on Bitcoin as it has been breaking to new recent lows. 

Earnings, Conferences, Economic Reports

    Monday 25-Jun:
      Corporate:
        Earnings:
        • Pre-open: CCL
      • Analyst Meeting: COOL, THRM
      • PDUFA PDLI, ROG.SW (AVASTIN); AKAO, IONS (Plazomicin)
      Economic:
      • US: New home sales (May), Dallas Fed Index (Jun)
      • Europe: Germany IFO Business Climate
    Tuesday 26-Jun:
      Corporate:
        Earnings:
        • Pre-open: FDS, INFO, LEN
        • Post-close: AVAV, SONC
      • Analyst Meeting: AKAM, ATRC, BLKB
      • IPO: UXIN
      Economic:
      • US: Case-Shiller home price (Apr), Consumer Confidence (Jun)
      • Europe: UK CBI Total Dist
    Wednesday 27-Jun:
      Corporate:
        Earnings:
        • Pre-open: CJR.B.CN, GIS, PAYX
        • Post-close: BBBY, FUL, PIR, PRGS
        Brokerage Conferences:
        • Sanford Bernstein Future of Media
      • Analyst Meeting: BLKB, MFC.CN, LEA, MDB
      • PDUFA: GWPH (Epidolex)
      Economic:
      • US: Durable Orders, Shipments (May), Pending Home Sales (May), Wholesale Inventories (May)
      • Europe: Euro-zone M3 (May), UK CBI Distributive Trades (Jun)
    Thursday 28-Jun:
      Corporate:
        Earnings:
        • Pre-open: ACN, CAG, GMS, LNN, MKC, SJR.B.CN, WBA
        • Post-close: KBH, NKE, SNX
        Brokerage Conferences:
        • JP Morgan NexGen
        • JMP Securities Real Estate
      • Analyst Meeting: MCK, SRE, TDG
      Economic:
      • US: GDP Q1 (Final), Continuing Jobless Claims
      • Europe: Euro-zone Consumer Confidence Indicator (Jun), ECB economic bulletin, Germany CPI (Jun), UK Consumer Confidence (Jun)
      • Asia: (Wed PM / Thurs AM): Japan Retail sales (May), Import / Export (May)
    Friday 29-Jun:
      Corporate:
        Earnings:
        • Pre-open: STZ
      Economic:
      • US: Personal Consumption Expenditure (May), Personal Income (May), Chicago PMI (Jun), Michigan Sentiment (Jun)
      • Europe: Euro-zone CPI (Jun), Germany Import Price (May), UK GDP, Import / Exports (Q1)
      • Asia: Japan, CPI (Jun), Industrial Production (May): Consumer Confidence (Jun), China
 


Any comments, suggestions, or questions - please email info@hedgefundtelemetry.com
Occasionally, an earnings report date could change, or could be incorrect. We rely on various sources including Street Account, Factset, and Bloomberg to compile this report.    

 

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