Catalyst Watch: Tesla, Boeing and General Motors brace for earnings fireworks

Welcome to Seeking Alpha’s Catalyst Watch – a breakdown of some of next week’s actionable events that stand out. Check out Seeking Alpha’s earnings calendar for a full list of companies due to report.

Monday – April 22

• Volatility watch – Options trading volume is elevated on Snap (SNAP) and Summit Therapeutics (SMMT). Short interest moved even higher over the last week on B Riley Financial (RILY) and Beyond Meat (BYND). The most overbought stocks per their 14-day relative strength index include Macatawa Bank (MCBC), Coupang (CPNG), and Alpine Immune (ALPN). The most oversold stocks per their 14-day Relative Strength Index include Sunoco (SUN), Capri Holdings (CPRI), and Perion (PERI). The Tapestry (TPR)-Capri Holdings (CPRI) deal is at risk of being blocked.
• All week – The TotalEnergies (TTE) board is expected to decide if a resolution to split the roles of CEO and chairman will be included at the annual general meeting in May. A group of investors has said the move could accelerate the company’s shift away from fossil fuels.
• All week – The World Energy Conference in Rotterdam will include talks by Saudi Aramco (ARMCO) CEO Amin Nasser and TotalEnergies (TTE) CEO Patrick Pouyanne.
• Earnings watch – Notable companies due to report include Verizon (VZ), Truist (TFC), and Albertsons Companies (ACI).
• All day – WTI crude May futures will expire. Crude oil futures (CL1:COM) have seen extra volatility over the last year on contract expiration dates.
• All day – The crypto world will have its eyes on the three-day World Blockchain Summit in Dubai.

Tuesday – April 23

• Earnings watch – Notable companies due to report include Visa (V), Tesla (TSLA), PepsiCo (PEP), Texas Instruments (TXN), Philip Morris International (PM), Mattel (MAT), UPS (UPS), Lockheed Martin (LMT), and General Motors (GM). Options trading implies a sizable share price swing for JetBlue Airways (JBLU) and Invesco (IVZ) after their reports are released.
• All day – The Maxim Group LLC International Mining & Processing Conference will include detailed analysis of the mining and processing sectors. Aqua Metals (AQMS), Austin Gold (AUST), Anson Resources (OTCQB:ANSNF), McEwen Mining (MUX), and Novonix (NVX) are some of the companies due to appear.
• All day – The Stripe Sessions Conference will include talks by Stripe (STRIP) CEO Patrick Collison, Nvidia (NVDA) CEO Jensen Huang, Instacart (CART) CEO Fidji Simo, and Urban Outfitters (URBN) CTO Dave Hayne.
• All day – My Size (MYSZ) will begin trading on a split-adjusted basis following the company’s 1-for-8 reverse stock split.
• 8:30 a.m. General Motors (GM) will hold its earnings conference call. The Detroit automaker’s update on electric vehicle production plans and capital allocation strategy will be closely watched.
• 8:30 a.m. Cleveland-Cliffs (CLF) will hold its earnings call amid merger speculation involving US Steel (X) and Nippon Steel (OTCPK:NISTF).
• 9:45 a.m. S&P Global will release the latest U.S. PMI composite flash report.
• 10:00 a.m. The U.S. Bureau of Census will release the March New Home Sales report.
• 5:00 p.m. Tesla (TSLA) is scheduled to hold its earnings conference call. Key topics will be the outlook for full-year deliveries, pricing, and additional color on the robotaxi event in August. Analysts are likely to try to pin down Elon Musk on the status of the mass-market Model 2 launch. Options trading on Tesla implies a 10% share price swing after the report drops. Tesla fell 12% immediately after its Q4 earnings report. EV stocks with the tightest trading correlation to Tesla after earnings are Faraday Future Intelligent (FFIE) and Nio (NIO).

Wednesday – April 24

• Earnings watch – Notable companies due to report include Meta Platforms (META), IBM (IBM), AT&T (T), Boeing (BA), Chipotle (CMG), General Dynamics (GD), Hilton Worldwide (HLT), and Ford Motor (F). Options trading implies a double-digit share price swing for Hasbro (HAS) and Sleep Number (SNBR) after their reports.
• All day – Nasdaq will release its latest report on short interest positions.
• All day – Volkswagen (OTCPK:VLKAF) will hold its China Capital Markets Day in Beijing. Management from the regional brands will showcase their respective product strategies for China, followed by deep dives highlighting technologies and partnerships.
• 10:30 a.m. Boeing (BA) will hold its earnings conference call. Investors will be watching for any production updates and to see if the recent guidance for “low single digit billions” full-year free cash flow is reiterated.
• 4:15 p.m. The launch window opens for a Rocket Lab (RKLB) Electron rocket that will carry a pair of satellites on behalf of NASA and the Korea Advanced Institute of Science and Technology.

Thursday – April 25

• Earnings watch – Notable companies due to report include Microsoft (MSFT), Alphabet (GOOG), Merck (MRK), Caterpillar (CAT), Comcast (CMCSA), Intel (INTC), and Altria Group (MO). Options trading implies double-digit share price swings for Snap (SNAP) and Hertz Global (HTZ) after their reports.
• All day – Notable events include annual meetings for Texas Instruments (TXN), Johnson & Johnson (JNJ), and Pfizer (PFE).
• All day – The Beijing Auto Show Auto China 2024 will begin. Some of the automakers that are expected to make a splash with new models include Nio (NIO), BYD Company (OTCPK:BYDDF), Mercedes-Benz (OTCPK:MBGAF), BMW (OTCPK:BMWYY), Zeekr, and General Motors’ (GM) Cadillac.

Friday – April 26

• Earnings watch – Notable companies due to report include TotalEnergies (TTE), Exxon Mobil (XOM), Abbvie (ABBV), Chevron (CVX), and Colgate-Palmolive (CL).
• 8:30 a.m. The core PCE price index report for March will be released. Economists forecast the index will rise +2.7% year-over-year vs. +2.8% in February and +2.9% in January. The inflation gauge is seen rising 0.3% month-over-month for March to match the pace in February.
• 10:00 a.m. The latest report on consumer sentiment will be released by the University of Michigan.

Seeking Alpha Editor Josh Fineman contributed to this story.