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Investors may get a better grip on how the Federal Reserve's tightening cyc= le will play out after inflation data pours next week in with the consumer = price index, producer price index, and an update on unit labor costs all du= e in. At the moment, Fed officials are indicating that they expect the targ= et interest rate to be lifted to a 3.50% to 4.00% range by the end of the y= ear. However, the bond market isn't reflecting that level quite yet, even a= fter Treasuries sold off on Friday after the blowout July jobs report arriv= ed. If the inflation reports were to surprise to the upside, speculation of= an inter-meeting rate hike by the Fed could be stirred up and lead to some= bigger moves in the bond market. The calendar for the week includes Tyson = Foods (TSN), Take-Two Interactive (NASDAQ:TTWO), Disney (DIS), and Rivian A= utomotive (NASDAQ:RIVN) as some of the notable companies heading into the e= arnings confessional, while the J.P. Morgan Auto Conference is expected to = include some intriguing updates, including several from electric vehicle pl= ayers.
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<= /a> Read in Browser
 

Welcome to the Sunday edition of Wall Street Breakfast,=20 which previews events for investors to watch during the upcoming week. If y= ou want to receive this a day earlier, follow Stocks to Watch and select the option to receive email notifications.

Top News
Economic reports in the we= ek ahead
Investors may get a better grip on how the Federal Rese= rve's tightening cycle will play out after inflation data pours next week i= n with the consumer price index, producer price index, and an update on uni= t labor costs all due in. At the moment, Fed officials are indicating that = they expect the target interest rate to be lifted to a 3.50% to 4.00% range= by the end of the year. However, the bond market isn't reflecting that lev= el quite yet, even after Treasuries sold off on Friday after the blowout Ju= ly jobs report arrived. If the inflation reports were to surprise to the up= side, speculation of an inter-meeting rate hike by the Fed could be stirred= up and lead to some bigger moves in the bond market. The calendar for the = week includes Tyson Foods (= TSN), Take-Two Interactive (NASDAQ:TTWO), Disney (DIS), and Rivian Automotive (NASDAQ:RIVN) as some of the n= otable companies heading into the earnings confessional, while the J.P. Mor= gan Auto Conference is expected to include some intriguing updates, includi= ng several from electric vehicle players.
Earnings

Earnings spotlight: Monday, August 8 Luckin Coffee (OTCPK:LKNCY), Dominion Energy (D= ), Tyson Foods (TSN), A= merican International Group (AIG), Palantir Technologies (PLTR), and Take-Two Interactive Soft= ware (TT= WO).

Earnings spotlight: Tuesday, August 9 - Em= erson Electric (EMR)= , Sysco (SYY), Globalfo= undries (NASDAQ:GFS)= , Norwegian Cruise Line Holdings (NCLH), Coinbase Global (COIN), and Wynn Resorts (WYNN).

Earnings s= potlight: Wednesday, August 10 - Disney (DIS), Honda Motor (HMC), Coupang (CPNG), Jack in the Box (JACK), Wendy's (WEN), CyberArk (CYBR), and Fox (FOX).

Earnings spotlight: Thursday, August 11= - Cardinal Health (CAH), Brookfield Asset Management (NYSE:BAM), Rivian Automotive (RIVN), US Foods (USFD), and Illumina (ILMN).

Earni= ngs spotlight: Friday, August 12 - Virgin Orbit Holdings (NASDAQ:<= a href=3D"https://email-st.seekingalpha.com/click/28644619.774801/aHR0cHM6L= y9zZWVraW5nYWxwaGEuY29tL3N5bWJvbC9WT1JCP21haWxpbmdpZD0yODY0NDYxOSZzZXJpYWw9= Mjg2NDQ2MTkuNzc0ODAxJnVzZXJpZD0zNTM4NDUxNSZzb3VyY2U9ZW1haWxfd3NiJm1lc3NhZ2V= pZD13YWxsX3N0cmVldF9icmVha2Zhc3QmdXRtX3NvdXJjZT1zZWVraW5nX2FscGhhJnV0bV9tZW= RpdW09ZW1haWwmbGN0Zz02MGMxZTVjNGRiYTgzZTU5MTQ5ZmYzNDc/60c1e5c4dba83e59149ff= 347B1f06ca4f/email" title=3D"Virgin Orbit Holdings, Inc.">VORB).
IPOs
IPO watch: The downsized IPO for elect= ric sport boat developer Forza X1 (FRZA) is expected to start trading on August 11. IPO lockup perio= ds expire on SKYX Platforms Corp (SKYX) and Modular Medical (MODD) on August 9. Both stocks trade well below the= ir IPO pricing level.
Outlook

Tyson Foods earnings preview: Tyson= Foods (TSN) will repor= t earnings in a report that will be closely watched in the meat and package= d good sector for signs of a consumer tradedown effect. Consensus estimates= are for Tyson to report revenue of $13.3B and EPS of $1.97. By volume, bee= f sales are forecast to fall 3% for Tyson and pork sales are seen declining= 5%. Prices are higher for beef and chicken than a year ago to help offset = higher costs for animal feed and transportation, but pork prices have actua= lly declined. Analysts think the margin outlook from Tyson will direct whic= h way shares move following the earnings print. The current full-year margi= n expectations are for beef adjusted operating margin of 11.5%, pork adjust= ed operating margin of 5.4%, chicken adjusted operating margin estimate of = 5.6%, and prepared Foods adjusted operating margin estimate of 9.2%. "Beef = margin might contract as herd liquidations began to accelerate amid drought= s and elevated feed costs, tightening cattle supply," warned Bloomberg Inte= lligence analyst Jennifer Bartashus ahead of the TSN report.

Take-Two Interactive earnings preview: Take-Two Interactive (TTWO) wi= ll report earnings on August 8 to expectations for revenue of $1.09B, EPS o= f $0.86, and net bookings of $6.5B including the Zynga business. Analysts h= ave been cautious with TTWO due to the risk consumer spending will be press= ured by a recession, untested franchises, and some questions around Grand T= heft Auto iterations. Potential catalysts for a share price bounce include = stronger-than-anticipated Zynga numbers and more details on immersive core = games.

Inflation reports: Reports next week on cons= umer prices and producer prices will keep the focus on inflation again. The= July CPI report is expected to show a slight moderation in the headline nu= mber to +8.7% Y/Y from +9.1% in June. Core CPI is seen rising 0.6% on a mon= th-over-month comparison. Bank of America expects solid prints in shelter, = transportation, and recreation, as well as another month of broad-based fir= mness in core goods prices. Looking ahead, air fares and used car prices ar= e both expected to move lower in the next several months to take some press= ure off the U.S. consumer. The producer price index is forecast to show a 0= .3% increase for July, in a deceleration from the 1.1% pace in June. Exclud= ing food, energy and trade services, PPI is expected to increase by 0.4% mo= nth-over-month. Economists think the price reports may support some of the = peak inflation discussion, but will also support the consensus view that th= e Federal Reserve will raise the target interest rate by 75 points at the S= eptember meeting.

Crypto comeback dreams: A major d= evelopment in the cryptocurrency sector could happen next week in the lead = up to the long-awaited Ethereum (ETH-USD) transition to a proof-of-work protocol. The most anticip= ated event for Ethereum before the actual merge is the third and final test= network environment, which is being called Goerli. A successful Ethereum m= erge test could add to the positive vibes already stirring up after BlackRo= ck (BLK) announced that i= t would offer institutional clients direct access to crypto through its Ala= ddin product, beginning with Bitcoin (BTC-USD). Crypto bulls are also pointing to a positive news o= n the regulatory front after a bipartisan group of senators put forward a n= ew bill that classifies Bitcoin and Ethereum as commodities. Digital asset = broker GlobalBlock said the measure would mean that those are the only cryp= tos that are not able to be classified as securities, which would remove a = significant concern for sidelined institutions. Watch for more news on that= potential regulatory development. On crypto calendar next week, the Blockc= hain Futurist Conference will feature over 100 speakers, industry experts, = and thought-leaders to discuss blockchain technology, NFTs, Metaverse, DeFi= , Cryptocurrency, DAOs. Ethereum founder Vitalik Buterin is scheduled to ma= ke an appearance.
Data
Data reads: Nielsen numbers for retail= outlets will be reported with larger focus on how demand for packaged good= s beverages, beer, spirits fared over the last four weeks and which compani= es may have gained market share. Coca-Cola (KO) has been outpacing PepsiCo (PEP) and Keurig Dr Pepper (KDP) in soft drink sales this year, and= Constellation Brands (STZ) has been flying in the alcoholic beverages sector.
Events

Corporate events: GlobalFoundries (= GFS) will hold its C= apital Markets Day event on August 10. GlobalFoundries and STMicro recently= signed an agreement to build and jointly operate a new 300mm manufacturing= plant in Crolles, France, next to STMicro's existing facility. GFS is one = of the stocks that trades with strong correlation to news around Taiwan. My= riad Genetics (MYGN) will host an Investor Day event on August 11 to provide a strategic busi= ness update and overview of the company=E2=80=99s growth opportunities, res= earch and development pipeline, and technology initiatives. Boeing (NYSE:BA) is due to update on it= s orders and deliveries. Read more about the events next week that could im= pact shares prices in Seekin= g Alpha's Catalyst Watch.

Notable conferences: = The conference schedule is headlined by the J.P. Morgan Auto Conference. Co= mpanies due to appear include Adient (ADNT0, Stoneridge (SRI), Ford Motor (F), Cepton (NASDAQ:CPTN), Gentherm (THRM), TrueCar (TRUE), TuSimple (TSP), Dana (DAN), (NASDAQ:GTEC), Blink Charging (NASDAQ:BLNK), Aptiv (NYSE:APTV), and Rush Enterprises (RUSHA). Of those names, Tu Simple (TSP) may have the most to prove= after The Wall Street Journal published safety concerns about the autonomo= us driving system despite the 8M road miles driven. Certain auto stocks hav= e seen share price jolts in the past after presentations included guidance = and business updates. Other conferences of note include the BTIG Biotechnol= ogy Conference, UBS Financial Services Conference, BofA Securities 2022 SMI= D Cap Ideas Conference, Oppenheimer 25th Annual Technology Internet & C= ommunications Conference, the Wedbush PacGrow Healthcare Conference, the Ca= naccord Genuity 42nd Annual Growth Conference, the BTIG Biotechnology Confe= rence, the Jefferies 2022 Industrials Conference, and Canaccord 42nd Annual= Growth Conference.
Stocks
Barron's mentions: General Electric (N= YSE:GE) is recomme= nded this week ahead of the company's plan to split itself into separate ae= rospace, healthcare, and power-generation concerns. The cover story makes t= he case that General Electric is trading for far less than the combined val= ue of its three remaining pieces. The math on the three GE businesses is sa= id to add up to $160B in value, which is noted to be about double what GE t= rades for at the moment. Worried about the GE balance sheet? GE=E2=80=99s d= ebt sits at about $32B, while total cash along with stock in oilfield servi= ces and equipment company Baker Hughes (BKR) and aircraft sales and leasing concern AerCap Hold= ings (AER) adds up t= o almost $20B. The resulting net debt of $12B is observed by Barron's to be= less than 2.0X the 6.9B in EBITDA that GE earned over the past 12 months v= s. the industrial sector average of about 2.2X.

Sources:= EDGAR, Bloomberg, CNBC, Reuters <= br>
Seeking Alpha=E2=80=99s Wall Street Breakfast Podcast
Seeking Alpha's Wall Street Breakfast podcast brings you all the news you n= eed to know for your market day. Released by 8:00 AM ET each morning, it is= a quick listen that you can put on as you get ready to start your working = day.
 
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