Wall Street Breakfast: The Week Ahead

The pace of earnings slows down in the week ahead, although powerhouse reports and potentially sector-rattling updates are due from Skyworks Solutions (SWKS) (preview), United Parcel Service (UPS), Disney (DIS) (analysis), and Alibaba (BABA) (preview). So far, just under 80% of S&P 500 firms have beaten Q2 consensus EPS estimates, while only 59% of firms have beaten revenue expectations. That current percentage of revenue beats is the lowest level in three years. The economic calendar features fresh updates on inflation, with the July Consumer Price Index report due out on August 10 and the Producer Price Index report set to be released on August 11. The bond market could also be in the spotlight next week, with the auctions of three- and 10-year notes and 30-year bonds going off at higher amounts than originally forecast and yields generally on the rise. Wayfair (NYSE:W) and Kellogg (NYSE:K) hold key investors events, while the Def Con hacker convention will give AI systems a serious test on vulnerabilities.

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Welcome to the Sunday edition of Wall Street Breakfast, which previews events for investors to watch during the upcoming week. If you want to receive this a day earlier, follow Stocks to Watch and select the option to receive email notifications. Top News The pace of earnings slows down in the week ahead, although powerhouse reports and potentially sector-rattling updates are due from Skyworks Solutions (SWKS) (preview), United Parcel Service (UPS), Disney (DIS) (analysis), and Alibaba (BABA) (preview). So far, just under 80% of S&P 500 firms have beaten Q2 consensus EPS estimates, while only 59% of firms have beaten revenue expectations. That current percentage of revenue beats is the lowest level in three years. The economic calendar features fresh updates on inflation, with the July Consumer Price Index report due out on August 10 and the Producer Price Index report set to be released on August 11. The bond market could also be in the spotlight next week, with the auctions of three- and 10-year notes and 30-year bonds going off at higher amounts than originally forecast and yields generally on the rise. Wayfair (NYSE:W) and Kellogg (NYSE:K) hold key investors events, while the Def Con hacker convention will give AI systems a serious test on vulnerabilities.       Earnings Earnings spotlight: Monday, August 7 - Tyson Foods (TSN), Lucid Group (LCID), Skyworks Solutions (SWKS), Paramount Global (PARA), and Palantir Technologies (PLTR). Earnings spotlight: Tuesday, August 8 - Eli Lilly (LLY), United Parcel Service (UPS), Coupang (CPNG), Li Auto (LI), and Datadog (DDOG). Earnings spotlight: Wednesday, August 9 - Disney (DIS), Trade Desk (TTD), Roblox (RBLX), Wynn Resorts (WYNN), and Brookfield Asset Management (BAM). Earnings spotlight: Thursday, August 10 - Alibaba (BABA), US Foods (USFD), and Ralph Lauren (RL). Earnings spotlight: Friday, August 11 - Spectrum Brands (SPB) and Soho House (SHCO). IPOs IPO and spinoff watch: Vitro Biopharma (VTRO) is expected to price its $10M IPO next week after a long delay. The biotech firm is developing stem cell based treatments for various serious medical conditions. The quiet periods expire on Apogee Therapeutics (NASDAQ:APGE) and Sagimet Biosciences (NASDAQ:SGMT), which will free up analysts to post ratings. Dividends Dividend watch: Companies projected to boost their quarterly dividend payouts include Nordson (NDSN) to $0.74 from $0.65, Badger Meter (BMI) to $0.25 from $0.225, and Martin Marietta (MLM) to $0.70 from $0.66. See Seeking Alpha's list of Quick Dividend Stock Picks. Events Corporate events: Kellogg Company (K) will host an Investor Day on August 9 for institutional investors and analysts at the New York Stock Exchange. Ahead of the planned company split into two businesses, the presentations will include management teams for both Kellanova and WK Kellogg Co outlining each company's respective strategy, capital structure, capital allocation priorities, and financial outlook. Later in the week, the Def Con hacker convention has more potential stock market implications than in the past. Five teams of hackers will be in a sanctioned competition to successfully remotely infiltrate and hijack a U.S. government satellite while it's in space. In addition, companies such as OpenAI, Microsoft (MSFT), Google (GOOG), Nvidia (NVDA), and startups Anthropic, Hugging Face, and Stability AI have all agreed to provide their AI models for a hacking test. Def Con 2023 is being called the first instance of a live hacking event of a generative AI system at scale. See a detailed list of key events for next week in Seeking Alpha's Catalyst Watch. Seeking Alpha's Wall Street Breakfast Podcast Seeking Alpha's Wall Street Breakfast podcast brings you all the news you need to know for your market day. Released by 8:00 AM ET each morning, it is a quick listen that you can put on as you get ready to start your working day.
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