Federal Reserve Chairman Jerome Powell will be in the spotlight next week with appearances on Capitol Hill in front of the House Financial Services Committee and the Senate Banking Committee. Powell’s testimony will supplement the release of the Fed’s semi-annual monetary policy report.
Investors will also be watching to see if the momentum rallies for highly-shorted stocks can extend. Over the last week, the list of stocks with more than 20% short interest of total float that showed big rallies included Nikola (NKLA), EHang (EH), Carvana (CVNA), Workhorse Group (WKHS), Hyzon Motors (HYZN), Cipher Mining (NASDAQ:CIFR), C3.ai (AI), Virgin Galactic (NYSE:SPCE), Zentalis Pharmaceuticals (NASDAQ:ZNTL), and Upstart (UPST).
Earnings spotlight: Tuesday, June 20 – FedEx (FDX) and La-Z-Boy (LZB).
Earnings spotlight: Wednesday, June 21 – KB Home (KBH), Winnebago (WGO), and Steelcase (SCS).
Earnings spotlight: Thursday, June 22 – Accenture (ACN), Darden Restaurants (DRI), and FactSet Research (FDS).
Volatility watch: Short interest on Zynex (NASDAQ:ZYXI) stands at 24.85% and Arhaus (ARHS) stands at 27.79% of total float. Options trading volume is elevated on Nikola (NKLA) and Mullen Automotive (MULN) once again. CAVA Group (NYSE:CAVA) will be closely watched after its rocket-shot IPO debut.
Quant ratings: Stocks with recent quant rating changes include Super Micro Computer (NASDAQ:SMCI) to Strong Buy from Hold, Dole plc (DOLE) to Buy from Hold, and J.Jill (JILL) to Sell from Hold. See the stocks with the very highest rated Seeking Alpha Quant Ratings.
Dividend watch: Companies forecast to boost their quarterly payouts include Kroger (KR) to $0.28 from $0.26, Darden Restaurants (DRI) to $1.25 from $1.21, and Saul Centers (BFS) to $0.60 from $0.59. See Seeking Alpha’s list of Quick Dividend Stock Picks.
Corporate events: Companies holding investor events on June 20 include Credicorp Ltd. (BAP), Radian (RDN), Albemarle Corp. (ALB), Great-West Lifeco (OTCPK:GWLIF), and Adtalem Global Education (NYSE:ATGE). Hewlett Packard Enterprise (NYSE:HPE) will also hold its HPE Discover Edge-to-Cloud Conference. The event has attracted attention from analysts in the past and contributed to ratings boosts. Mind Medicine (MNMD) will hold its Annual General Meeting of Shareholders on June 21. Dollar Tree (DLTR) will hold an investor conference on June 21 that includes an executive question-and-answer session. Shares of Dollar Tree have not recovered from their Q1 earnings tumble.
Investor conferences: The conference schedule for the week ahead includes the ROTH 9th Annual London Conference, Jefferies Consumer Conference, and J.P. Morgan Energy, Power and Renewables Conference.
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