Earnings season may still be in force, but we are looking for the coming week’s top coming events that could have a large impact on shares on Monday and throughout the week. What has been known as “The Unusual Suspects for the Week Ahead” is having a possible identity change in name but not in content. We have created “The Coming Week’s 17 Must Watch Stock Issues” with key events that either started late on Friday or over the weekend or which have important non-earnings events that can’t be missed this week.
The coming week’s must see events for traders and investors alike in stocks is as follows: AnnTaylor Stores Corp. (NYSE: ANN), Audiovox Corporation (NASDAQ: VOXX), The Beckman Coulter Inc. (NYSE: BEC), Bristol-Myers Squibb Company (NYSE: BMY), Suncor Energy Inc. (NYSE: SU), Canadian Natural Resources Limited (NYSE: CNQ), DineEquity, Inc. (NYSE: DIN), Goldman Sachs Group Inc. (NYSE: GS), Market Vectors Egypt Index ETF (NYSE: EGPT), Internet Capital Group Inc. (NASDAQ: ICGE), OpenText Corporation (NASDAQ: OTEX), JDS Uniphase Corporation (NASDAQ: JDSU), Kinder Morgan Energy Partners LP (NYSE: KMP), Kinder Morgan Management LLC (NYSE: KMR), KV Pharmaceutical Co. (NYSE: KV-A), Lululemon Athletica Inc. (NASDAQ: LULU), Micron Technology, Inc. (NASDAQ: MU), NASDAQ OMX Group Inc. (NASDAQ: NDAQ), Orexigen Therapeutics, Inc. (NASDAQ: OREX), Questcor Pharmaceuticals, Inc. (NASDAQ: QCOR), and finally SIRIUS XM Radio Inc. (NASDAQ: SIRI).
We have outlined the issue underway or the event upcoming, offered color on each, and added in trading data on the shares if applicable. Again, these are the non earnings events. A detailed earnings calendar with previews is available here.
AnnTaylor Stores Corp. (NYSE: ANN) was up 3.2% at $23.75 on Friday on 150% of normal volume with some 3.75 million shares traded. What is interesting is that its options volume was off the chart and it was all one-sided call options trading. It is possible that these were hedged calls, but the volume looked extreme for a sector that is inundated with consolidation.
Audiovox Corporation (NASDAQ: VOXX) turned in an impressive gain in the after-hours session after news that it will acquire Klipsch Group Inc. for $166 million. Klipsch is a high-performance audio solutions company serving the residential, professional and personal listening markets. Trading volume in Audiovox was 11,430 shares but the after-hours trading showed a gain of 7.8% to $8.30 versus a 52-week range of $6.17 to $9.74. Here is where this gets interesting: Audiovox had a market cap at the close of trading of only $177 million.
The Beckman Coulter Inc. (NYSE: BEC) buyout process is nearing an end and we could have more details over its merger this coming week. We argued before that the premium price should have been close to full value already. Speculators will run shares higher and everyone hopes that private equity firms will over-pay.
Bristol-Myers Squibb Company (NYSE: BMY) has an FDA panlel review on FEB. 9 where BMS is seeking initial approval for ipilimumab (Imclone’s Erbitux) for patients who have previously received treatment for melanoma. Recent data showed that survival rates were indeed higher and this could be another blockbuster opportunity for the firm if ultimately approved. We have a formal approval decision date tentatively set for March 26. The market cap is roughly $44 billion here.
Canada and oil sands for safe defensive oil… Barron’s highlighted Suncor Energy Inc. (NYSE: SU) and Canadian Natural Resources Limited (NYSE: CNQ) and others this weekend. These are being touted as larger Canadian oil sands project companies that offer safer oil without political tensions and growth ahead.
DineEquity, Inc. (NYSE: DIN) could have Goldman Sachs Group Inc. (NYSE: GS) as a partner. Reports late Friday showed that Goldman’s private equity arm is close to buying Applebees’ largest franchise holder. Who would have known that mediocre chain food restaurants would have such an appeal to billionaires.