Tesla stock split, Peloton earnings, Fed Jackson Hole symposium top week ahead

Date:

Investors are gearing up for another busy week with corporate earnings and economic data focused on housing and the consumer. The coming week will also be big for investors from AMC Entertainment, which will debut its APE stock, and Tesla, which will begin trading stocks under a 3-for-1 stock split.

ticker Safety Last Change Change %
me: DJI DOW JONES AVERAGES 33306.74 -292.30 -0.86%
SP500 S&P 500 4228.48 -55.26 -1.29%
me: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 resurfaced about a Fed rate hike in September. The Dow lost nearly 300 points on the day.

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

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Monday 22-8

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

ticker Safety 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 in October after a controversy over stock trading.

ticker Safety Last Change Change %
AMC AMC ENTERTAINMENT HOLDINGS INC 18.02 -1.42 -7.31%

In addition, AMC’s preferred stock will trade on the New York Stock Exchange under the ticker symbol APE. Each APE unit represents one-hundredth share of AMC’s authorized Series A Convertible Preferred Stock. AMC will issue one APE unit as dividend for each share of common stock.

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Tuesday 8/23

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

ticker Safety Last Change Change %
DKS 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%
MONKEY 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 NORDSTROM INC. 24.18 -0.36 -1.47%
TOLL TOLL BROTHERS INC. 47.26 -1.74 -3.55%
URBN URBAN OUTFITTERS INC. 22.33 -0.71 -3.08%

Homes are at the center of economic data on Tuesday with new home sales and building permits. Neel Kashkari, president of the Minneapolis Fed, will also participate in a question-and-answer session at a meeting of the Wharton Minnesota Alumni Club.

Wednesday 8/24

Petco and Brinker International will spotlight earnings before the market opens on Wednesday. Autodesk, Box, NetApp, Nvidia, Snowflake, Splunk and Victoria’s Secret will deliver profit results afterwards.

ticker Safety Last Change Change %
WEFT PETCO HEALTH AND WELLNESS COMPANY INC. 15.88 -0.85 -5.08%
TO EAT BRINKER INTERNATIONAL INC. 31.64 -1.64 -4.93%
ADSK AUTODESK INC. 222.59 -6.27 -2.74%
BOX 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 no no no no

In terms of economic data, investors will be digesting durable goods in anticipation of home sales, weekly mortgage applications and the Energy Information Administration’s weekly crude inventories.

ticker Safety Last Change Change %
RAD RITE AID CORP. 7.71 -0.85 -9.99%

Rite Aid will also hold a virtual event where President and Chief Executive Heyward Donigan and Chief Financial Officer Matt Schroeder will answer questions from retail shareholders.

CLICK HERE TO READ MORE ABOUT FOX BUSINESS

Thursday 25-8

The week will conclude with 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.

ticker Safety Last Change Change %
ANFO ABERCROMBIE & FITCH CO. 20.58 -0.65 -3.06%
BURL BURLINGTON SHOPS 163.35 -5.63 -3.33%
COTY COTY INC. 7.50 -0.32 -4.09%
DXLG DESTINATION XL GROUP 4.39 +0.09 +2.09%
DG DOLLAR GENERAL CORP. 253.86 -3.80 -1.47%
DLTR DOLLAR TREE INC. 167.68 -0.37 -0.22%
GPS GAP INC. 10.10 -0.76 -7.00%
HAIN THE HAIN CELESTIAL GROUP INC. 25.45 +0.65 +2.62%
PTON PLATON INTERACTIVE INC. 11.71 -0.95 -7.50%
SCVL SHOES CARNIVAL 25.44 -0.18 -0.70%

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

ticker Safety 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 -1.47%
VMW VMWARE INC. 121.58 -0.86 -0.70%
WDAY WORKING DAY INC. 168.18 -4.95 -2.86%

Economic data on the roll includes corporate earnings, the second estimate of GDP, and the latest in first and ongoing unemployment claims.

The Federal Reserve will also host its annual symposium in Jackson Hole, Wyoming, which will bring together prominent central bankers, treasury ministers, academics and financial market participants from around the world. This year’s meeting, entitled “Reassessing constraints on the Economy and Policy”, will run through August 27.

ticker Safety Last Change Change %
TSLA Tesla Inc. 890.00 -18.61 -2.05%

In addition, shares of Tesla will trade under the 3-for-1 stock split. Any shareholder with a record August 17 will receive a dividend of two additional common shares for each share held, which will be paid after close of business on August 24.

Friday 26-8

The week for economic data closes with the consumer consumer spending price index (PCE) and the consumer confidence index from the University of Michigan.

ticker Safety Last Change Change %
UBSIA UNITED BANKSHARES INC. (WEST VIRGINIA) 39.93 -0.29 -0.72%

Friday also marks the last trading day for United Bancshares before being voluntarily delisted from the Nasdaq. The company has taken steps to list its shares on or about August 29 on the OTCQX market under the ticker symbol UBOH.

The Valley Voice
The Valley Voicehttp://thevalleyvoice.org
Christopher Brito is a social media producer and trending writer for The Valley Voice, with a focus on sports and stories related to race and culture.

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