First and foremost> to any of my friends out there in Texas. If you are in the path of hurricane Harvey my prayers got out for you and yours to get through the storm safely.
Equity markets remain guilty till proven innocent we are below some key moving averages in several sectors and indexes. Shippers, energy and airlines could be sectors to keep an eye on next week. Also keep an eye on gold as well as the miners, volatility ETF's and short biased ETF's for day trading opportunities if we see more market weakness. We have full slate of economic data that will be coming out next week as well as the potential ramifications of hurricane Harvey that could impact certain sectors of the markets.
We are approaching September and October which are typically the worst months for market performance so it is prudent to be cautious until we see signs of a strong sustainable reversal.
Stocks in this weeks video
$AVAL $HAIN $EXA $CIEN $OLLI $AMSWA $NTNX $KEYS $CTLT $NCS $WDAY $TITN $SMTC
Notable earnings reports: American Software (NASDAQ:AMSWA) on August 28; Best Buy (NYSE:BBY), Hain Celestial (NASDAQ:HAIN) and Movado (NYSE:MOV) on August 29; Greif (NYSE:GEF), Ctrip.com (NASDAQ:CTRP), Workday (NYSE:WDAY) and Box (NYSE:BOX) on August 30; Palo Alto Networks (NYSE:PANW
PANW$128.63 -3.11 -2.36%
Palo Alto Networks, Inc.
Provides network security solutions
52 Week Range107.31 - 165.69 Market Cap.11.81B
), Dollar General (NYSE:DG) and Lululemon (NASDAQ:LULU) on August 31.
IPO quiet period expirations: Venator Materials (Pending:VNTR) and Clementia Pharmaceuticals (Pending:CMTA) on August 28.
Secondary offering lockup expirations: Finjan (NASDAQ:FNJN), Bluebird Bio (NASDAQ:BLUE), Hamilton Lane (NASDAQ:HLNE) on August 28; Snap (NYSE:SNAP) on August 29; Savara (NASDAQ:SVRA) and TransUnion (NYSE:TRU) on August 31; Viper Energy Partners (NASDAQ:VNOM) on September 1.
**Notable annual meeting: **First Foundation (NASDAQ:FFWM) and La-Z-Boy (NYSE:LZB) on August 29
M&A closing: Amazon (NASDAQ:AMZN) takes over Whole Foods Market (NASDAQ:WFM) on August 28. Target (NYSE:TGT), Kroger (NYSE:KR), Wal-Mart (NYSE:WMT), Sprouts Farmers Market (NASDAQ:SFM), General Mills (NYSE:GIS), Kellogg (NYSE:K) and other food/grocery names will be in the spotlight as analysis on last week's sell-off pours in. DuPont (NYSE:DD) and Dow Chemical (NYSE:DOW) are expected to close on August 31.
Comparable sales updates: Costco (NASDAQ:COST) and Zumiez (NASDAQ:ZUMZ) on August 30; Buckle (NYSE:BKE), Cato (NYSE:CATO), Fred's (NASDAQ:FRED), L Brands (NYSE:LB) and Tandy Leather Factory (NASDAQ:TLF) on August 31.
FDA watch: GlaxoSmithKline (NYSE:GSK) expects to hear on Nucala sBLA review by August 28; Acorda Therapeutics (NASDAQ:ACOR) expects to hear on CVT-301 NDA by August 29; SteadyMed expects to hear on Trevyent NDA by August 29; BioMarin Pharmaceuticals to find out about pegvaliase BLA review by August 30.
**Auto sales reports: **Kelley Blue Book expects U.S. auto sales to increase 1.5% in August to 1.53M units. Forecast by automaker - General Motors (NYSE:GM) +6.1% to 272K, Toyota (NYSE:TM) +6.5% to 227K, Ford (NYSE:F) -3.5% to 206K, Fiat Chrysler (NYSE:FCAU) -3.5% to 190K, Honda (NYSE:HMC) +6.3% to 159K, Nissan (OTCPK:NSANY) +1.9% to 127K, Hyundai (OTCPK:HYMLF) -5.0% to 120K, Subaru (OTCPK:FUJHY) +7.6% to 65K, Volkswagen (OTCPK:VLKAY) +4.0% to 56K.
**Barron's mentions: **Upside is seen on Vornado (NYSE:VNO), Medtronic (NYSE:MDT), PayPal (NASDAQ:PYPL), Brinker International (NYSE:EAT) and Intel (NASDAQ:INTC) for investors. A retired hedge fund manager pitches the short case on Tesla (NASDAQ:TSLA). Investor angles on the space race are in the cover article.
Mayweather/McGregor: Sports books are reporting record volume on the boxing match. MGM Resorts (NYSE:MGM), William Hill (OTCPK:WIMHF) and Showtime owner CBS (NYSE:CBS) are set up for windfalls from the event. At last check, Oddsshark.com lists Mayweather -375 to win and McGregor +285.
Source Seeking Alpha