SPDR® S&P 500 ETF Trust (SPY)Clark Schultz,
da-kuk
Welcome to Seeking Alpha’s Catalyst Watch – a breakdown of some of next week’s actionable events that stand out. Check out Saturday morning’s regular Stocks to Watch article for a full list of events planned for the week, or the Seeking Alpha earnings calendar for companies due to report.
Saturday – December 23
- All day – NIO (NIO) will hold an investor event at the Olympic Sports Center in Xi’an, Shaanxi province in northwest China. The Chinese electric vehicle maker will unveil a new flagship model during the event, which CEO William Li confirmed is the ET9 super-luxury sedan. The reception to the event could impact shares when they start trading again in the U.S. on Tuesday.
Monday – December 25
- All day – The U.S. stock markets are closed for the Christmas holiday.
Tuesday – December 26
- Volatility watch – Options trading volume has moved higher on Cytokinetics (CYTK) amid report of takeover interest. TeraWulf (WULF) has also seen more options bets placed on it than normal activity. Dyne Therapeutics (DYN) and Upstart Holdings (UPST) both have an elevated level of short positions on them. The most overbought stocks per their 14-day Relative Strength Index are National HealthCare (NHC), Liquidia (LQDA), and Cerevel Therapeutics (CERE). The most oversold stocks per their 14-day Relative Strength Index include ECD Automotive Design (ECDA), Hallador Energy (HNRG), and Amtech (ASYS).
- Data report – The European Automobile Manufacturers’ Association is expected to release the monthly car registrations for November. For the first ten months of the year, new car registrations were up by 16.7%, totaling almost nine million units. The large markets of Italy (+20.4%), Spain (+18.5%), France (+16.5%), and Germany (+13.5%) all showed gains. Volkswagen (OTCPK:VLKAF) is the 2023 market share leader at 26.1%, followed by Stellantis (STLA) at 18.4%, and Renault Group (OTCPK:RNSDF) at 10.9%.
- Data reports – The Nevada Gaming Commission and Board is expected to release the gaming win report for November sometime during the week. The overall report will be of interest to Caesars Entertainment (CZR), MGM Resorts (MGM), Boyd Gaming (BYD), Wynn Resorts (WYNN), Las Vegas Sands (LVS), Full House Resorts (FLL), Bally’s Corporation (BALY), and Red Rock Resorts (RRR). In particular, the Las Vegas Strip numbers for the month will be closely watched for the impact of the Formula One race weekend.
- M&A watch – Paramount Global (PARA) and Warner Bros. Discovery (WBD) could see some activity as investors look for signs that a merger could take place that would have wide-reaching implications for live sports rights in the U.S. The two companies have already or are planning to acquire live broadcast rights to the NFL, NBA, NHL, MLB, PGA Tour, NASCAR, NCAA basketball tournament, and Big Ten Conference.
- All day – The IPO lockup periods for blocks of shares of Savers Value Village (SVV), Kodiak Gas Services (KGS), and Fidelis Insurance (FIHL) expire. SVV and FIHL traded below their IPO pricing levels at the time of publication, while KGS is up more than 20% from where it debuted.
- All day – Bond traders will be watching the two-year Treasury Note auction.
- 9:00 a.m. The S&P CoreLogic Case Shiller Home Price Index will be released.
- 10:30 a.m. The Dallas Fed Manufacturing Survey will be released.
Wednesday – December 27
- All day – The IPO lockup period expires on blocks of shares of Intensity Therapeutics (INTS).
- 10:00 a.m. Nasdaq will release its short interest report.
- 10:00 a.m. The Richmond Fed Manufacturing Index will be released.
Thursday – December 28
- All day – The 1-for-10 reverse stock split for MDxHealth SA (MDXH) becomes effective.
- All day – The launch window opens for the SpaceX (SPACE) Falcon Heavy rocket launch of the USSF 52 mission for the U.S. Space Force. The Falcon Heavy will launch the experimental X-37B Orbital Test Vehicle on this mission. This will be the first launch of an X-37B using a Falcon Heavy rocket.
- 10:00 a.m. The Pending Home Sales Index report will be released. Economists forecast pending home sales to be up 2% month-over-month in November, after showing a 1.5% decline in October.
Friday – December 29
- M&A watch – The tender offer for Cadeler’s (OTCPK:CADLF) share exchange offer for Eneti (NETI) will expire. The go-shop period for the Blackstone (BX) offer to acquire Rover Group (ROVR) will expire.
- All day – The San Diego Auto Show will begin with a media preview event. The five-day auto show is expected to feature debuts of the 2025 Volkswagen ID. Buzz, 2024 Chevrolet Blazer EV, 2024 Chevrolet Silverado EV, 2024 Ford F-150, 2024 Hyundai Kona Electric, 2024 Kia EV9, 2024 Lexus GX 500, and more.
- All day – Tesla (TSLA) will be on watch on the last trading day of the year, and with the electric vehicle maker’s Q4 deliveries report likely to be reported within days. Shares of Tesla (TSLA) have a recent track record of dropping in the session after the quarterly deliveries number arrives.
- All day – It is the last trading day before the FDA action date on Zealand Pharma’s (OTCPK:ZLDPF) Dasiglucagon for pediatric congenital hyperinsulinism.
- 9:45 a.m The MNI Chicago Purchasing Managers’ Index will be released. The index is expected to decline to 50.0 in December from 55.8 in November, when there was a positive impact from the end of the United Auto Workers strike.
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