This last week marked another solid week for investors and many stocks were on the move. We have compiled a list of stocks we are looking for event-driven trading moves in the coming week that are not tied to earnings reports for the week. The moves and events we are tracking in the week ahead are in Apple Inc. (NASDAQ: AAPL), Berkshire Hathaway Inc. (NYSE: BRK-A), BJ’s Wholesale Club Inc. (NYSE: BJ), Citigroup, Inc. (NYSE: C), Ford Motor Co. (NYSE: F), General Motors Corp. (NYSE: GM), Gen-Probe Inc. (NASDAQ: GPRO), International Paper Company (NYSE: IP), Kindred Healthcare Inc. (NYSE: KND), NetSuite Inc. (NYSE: N), Nortel Networks Corp. (NRTLQ), Oncothyreon Inc (NASDAQ: ONTY), Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI), and YRC Worldwide Inc. (NASDAQ: YRCW). We have given color, some background data, and an outlook each where applicable.
If you are just seeking an earnings calendar, we highlighted about sixteen of the top earnings with detailed previews we were planning to watch on Monday and Tuesday.
Apple Inc. (NASDAQ: AAPL) may still be somewhat in question but there are two things to watch. The NASDAQ 100 rebalance will be behind it and there are rumors that a new slate of iMacs will be released early this week. Shares closed at $350.13 on Friday, making that all but one day with a $350+ closing price this last week.
Berkshire Hathaway Inc. (NYSE: BRK-A; BRK-B) may be in focus a bit still on Monday after the annual shareholder meeting. The conglomerate disclosed that natural disasters cut its net income in more than half for the first quarter, and we would note that many of those Japan claims may carry over into Q2 and/or beyond. Buffett said Sokol violated trading ethics and that this was a blow, but he also admitted that mistakes were made by himself in monitoring the situation. Buffett is expected to give a Monday interview on CNBC, and then hopefully the world will move on past the company.
BJ’s Wholesale Club Inc. (NYSE: BJ) was up last week on word that Apollo was looking at making an acquisition offer. This company has been in play for some time now and sadly it is getting to the point that a buyer will have to have continued confidence in the economy for years ahead to justify it (at least by our conservative models). If no additional news is out on this matter on Monday, we would expect to see some of that move from $48 to $51 have to come back in a bit.
Citigroup, Inc. (NYSE: C) closed at $4.59 this week against a 52-week range of $3.53 to $5.15. This week will mark its last week as a $4 or $5 stock, hopefully forever…. As for its upcoming reverse stock split, Citi gave dates of “effective after the close of trading” on May 6, 2011 and will begin trading split-adjusted at the opening of trading on May 9, 2011.
Ford Motor Co. (NYSE: F) and General Motors Corp. (NYSE: GM) have GM earnings but we first get to see April vehicle sales data on Tuesday. This can influence the sector, although some of the data may be mostly known now that Ford has reported earnings.
Gen-Probe Inc. (NASDAQ: GPRO) was higher on Friday based on reports that it hired Morgan Stanley to find a buyer. The AIDS and West Nile drug maker rose over 4% to $82.92 on Friday, but this trades around 35-times this year’s earnings estimates and about 30-times next year’s estimates with a market cap around $4 billion today.