The tech sector will be in focus in the week ahead after a sizzling few sessions led by strength in chip stocks Nvidia (NVDA), AMD (AMD), Broadcom (AVGO), Arm Holdings (ARM), and Micron Technology (MU). Growth indicators will be in focus next week, with key releases including the preliminary Q4 GDP reading in the U.S. and the global flash PMIs. Central banks will also be busy, with monetary policy statements and interest rate decisions expected from the Bank of Japan, European Central Bank, and Bank of Canada. In the U.S., Federal Reserve members will be in a blackout period of no public talks ahead of the next FOMC meeting on January 30-31. The earnings calendar is very busy, with Tesla (NASDAQ:TSLA) (preview), Netflix (NASDAQ:NFLX) (analysis), Visa (V) (analysis), and American Airlines Group (AAL) (preview) just a few of the notable companies due to report.
Earnings spotlight: Monday, January 22 – Brown & Brown (BRO), United Airlines Holdings (UAL), and Zions Bancorporation (ZION).
Earnings spotlight: Tuesday, January 23 – Johnson & Johnson (JNJ), Procter & Gamble (PG), Netflix (NFLX), Verizon Communications (VZ), Texas Instruments (TXN), General Electric (GE), and Lockheed Martin (LMT).
Earnings spotlight: Wednesday, January 24 – Tesla (TSLA), Abbott Laboratories (ABT), IBM (IBM), AT&T (T), General Dynamics (GD), Las Vegas Sands (LVS), and CSX (CSX).
Earnings spotlight: Thursday, January 25 – Visa (V), Intel (INTC), Comcast (CMCSA), Union Pacific (UNP), American Airlines Group (AAL), Southwest Airlines (LUV), Levi Strauss (LEVI) and Alaska Air Group (ALK).
Earnings spotlight: Friday, January 26 – American Express (AXP), Colgate-Palmolive (CL), Norfolk Southern (NSC), and Autoliv (ALV).
Dividend watch: Companies forecast to increase their quarterly dividend payouts include Nexstar Media (NXST) to $1.54 from $1.35, Elevance Health (NYSE:ELV) to $1.67 from $1.48, Blackstone (BX) to $0.90 from $0.80, Franklin Electric (NASDAQ:FELE) to $0.25 from $0.225, and Comcast (CMCSA) to $0.31 from $0.29.
IPO watch: BrightSpring Health Services (BTSG) is expected to start trading next week. The independent provider of home and community-based healthcare services is offering 53.3M shares in an expected range of $15.00 to $18.00. IPO lockup periods expire for blocks of shares of Warrantee (NASDAQ:WRNT), Cadrenal Therapeutics (NASDAQ:CVKD), Earlyworks (NASDAQ:ELWS), Janover (JNVR), and ParaZero Technologies (PRZO). The analysts’ quiet period expires on NB (NBBK) to free up analysts to post ratings. Investors will also be watching for developments with social media giant Reddit (REDDIT) which reportedly intends to launch its initial public offering in March, nearly three years after first hiring IPO advisers.
Investor events: The three-day TD Securities Global Mining Conference will include participation from Arizona Sonoran Copper Company (OTCQX:ASCUF), Endeavor Group Holdings (NYSE:EDR), E3 Lithium Limited (ETL:CA), Lithium Royalty Corp. (LIRC:CA), Pan American Silver Corp. (PAAS), Piedmont Lithium (PLL), 10x Genomics (NASDAQ:TXG), and Wheaton Precious Metals (WPM). In the consumer sector, the Jefferies Consumer Summit will include presentations by BJ’s Restaurants (BJRI), Xponential Fitness (XPOF), and First Watch Restaurant Group (FWRG). Restaurant operator Jack in the Box (NASDAQ:JACK) will hold its 2024 Investor Day event on January 24, with presentations scheduled from top management.
