The Week Ahead — Just like last, we have a fun week ahead of us in markets. Let’s get a sneak peek at where the eyes of Wall Street will be focused.
Monday: Well, this was yesterday, so who cares. Hopefully, you all celebrated President’s Day by tuning into Fed Governor Bowman’s speech, though.
Tuesday: Today’s where the fun starts. The most random assortment of companies you’ve ever seen will drop earnings, including Virgin Galactic, Home Depot, Teladoc, and Macy’s.
We’ll also get a fresh update on home prices and just how unaffordable they are, but hey, at least seeing high prices on Zillow is fun, right?
Wednesday: Adding fuel to the home unaffordability fire, we’ll get an update on the MBA 30-year fixed mortgage rate as well as an auction of 5-year Treasury notes on Wednesday.
Chesapeake Energy, Clover Health, and FuboTV will give us a look at their latest earnings as well.
Thursday: Pre-Friday might be the highlight of the week, as usual, if you’re a fan of Thirsty Thursdays. Moderna, Coinbase, Square, Alibaba, Beyond Meat, and Etsy all drop earnings, among others.
Keeping the party going will be initial jobless claims and the latest quarterly GDP growth figures.
Friday: Heading into the weekend, provided the entire world isn’t wrapped in a nuclear crisis by then, U.S. core PCE and consumer spending reports get released along with other key macro data.
Companies reporting are mostly pretty boring, but be on the lookout for numbers from Foot Locker, Lending Tree, and Li Auto, if anyone cares. Maybe earnings from Carl Icahn and his firm Icahn Enterprises will spice things up.
We’ll see you there, apes. Just pray Putin doesn’t roll into Ukraine on the back of a 12-foot grizzly bear or something.
Speaking of Carl Icahn… — Most people dream of retiring at the ripe young age of 65 and spending the rest of their days hanging out at tropical resorts and annoying their grandkids with stories about when a Coke cost like 5 cents. Carl Icahn is not most people.
The 86-year old with $17bn in his pocket is still out here going strong. Known as the King of corporate raiding, Icahn is famous for his style of buying up fat positions in companies he believes are not achieving their full potential due to bad management teams. In the latest edition of this strategy, Icahn is taking on McDonald’s.
Although, this time, it’s pretty weird. Most of the time, if you want to be a corporate raider, you need to buy a massive stake in your target company, like I’m talking tens of millions. Icahn, however, seems to be replacing some of that skin in the game with influence.
With only 200 shares of McDanks to his name, that is far from any kind of material holding, but Icahn isn’t looking to gut the management team. In an interview with the WSJ, Icahn said his goal was to require all of McDonald’s’ U.S. pork suppliers to ban practices of cruelty such as shoving them into tiny crates for extended periods of time.
Isn’t that the cutest thing you’ve ever heard? The worst nightmare to management teams of giant American companies is Icahn turning his focus to the wellbeing of pigs. Absolutely adorable, and to put the cherry on top, Icahn isn’t seeking any financial gain from this endeavor. All he said was that it was something he “feel(s) really emotional about.”
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