8 Stock Catalysts For The Week Ahead

The SPDR S&P 500 SPY started off the week on a high note on Monday morning after a turbulent week of trading last week. Here are eight potential catalysts coming this week that could move the markets.

1. Canopy Growth Corp CGC is holding a two-hour investor seminar on Monday. An updated outlook following Canopy’s disappointing first-quarter earnings report could move the stock, as well as other cannabis names.
2. On Tuesday, the FDA is expected to make a ruling on Karyopharm Therapeutics Inc's KPTI sNDA for Selinexor. The FDA could potentially expand the drug's label to include adult patients with relapsed or refractory diffuse large B-cell lymphoma, not otherwise specified, who have received at least two prior therapies.
3. The FDA is also expected to rule on Zogenix, Inc.'s ZGNX Fintepla as a potential treatment for seizures associated with Dravet syndrome prior to the drug’s June 25 PDUFA date.
4. On Thursday, Cantor Fitzgerald is hosting a Virtual Fireside Chat with Aridis Pharmaceuticals Inc ARDS. The discussion will focus on the company’s CRISPR-based platform technology APEX and its potential for treating future COVID virus strains and other viral and bacterial pathogens.
5. Athletic apparel giant Nike Inc NKE is reporting fiscal fourth-quarter earnings on Thursday. Analysts are anticipating 3 cents of EPS on $8.35 billion in revenue.
6. Darden Restaurants, Inc. DRI, parent company of Olive Garden and LongHorn Steakhouse, is also reporting earnings on Thursday. Analysts are anticipating an EPS loss of $1.72 on revenue of $1.24 billion, down 44.4% from a year ago.
7. European bank stocks, including Deutsche Bank AG DB, HSBC Holdings plc HSBC and UBS Group AG UBS, could be on the move on Thursday when the European Central Bank releases the Monetary Policy Meeting Accounts from its latest meeting.
8. US investors will continue to monitor weekly jobless claims numbers released on Thursday mornings. Last week, the Department of Labor reported 1.5 million jobless claims, well above economist estimates of 1.3 million.

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