Corporate events have the potential to move stock prices. That’s as management provides an update on everything that’s going on in the business. Most of the time, investors are looking for stocks to watch for major updates, and usually, they are looking at them from a bullish perspective.
In other words, they are looking for high potential stocks for company announcements and want the best stocks for future growth.
However, there are times where investors are watching companies for negative updates. In those scenarios, it may have to do with an update to guidance, management’s industry outlook or a production update. Sometimes it’s related to a pending M&A deal or a contract with a large customer.
Oftentimes, investors aren’t looking for stocks to watch for major updates. That has a way of sneaking up on investors and then seeing these names tumble lower or rip higher when investors least expect it.
With that in mind, let’s look at a few top stocks with upcoming company plans.
Snowflake (SNOW)
Next week, Snowflake (NYSE:SNOW) will kick off its multi-day event Snowflake Summit 2023. The four-day event spans June 26 to June 29 and will round out the second quarter.
The stock has been volatile as of late, but has left a bit for everyone. The bears enjoyed a post-earnings feast when shares slumped 19%, while bulls then enjoyed a six-day 30% surge. It’s been a bumpy run since.
Can the summit help the stock find some consistency?
Taking place in Las Vegas, I can almost guarantee that everyone in tech will be interested to see what comes of the company’s fireside chat between Snowflake CEO Frank Slootman and Nvidia (NASDAQ:NVDA) CEO Jensen Huang.
They will discuss “trends in Generative AI and accelerated computing, the pace of disruption, and the impact on every industry and business model.”
That presentation will be on Monday, June 26 at 5:00 pm PT.
Baidu (BIDU)
Is the secret out on Baidu (NASDAQ:BIDU) yet? This is an under-the-radar AI play, just as other search-engine stocks are AI stocks in the making.
Alphabet (NASDAQ:GOOGL, NASDAQ:GOOG) via Google and Microsoft (NASDAQ:MSFT) via Bing are already looking at ways to integrate their AI tools into search. Of course, both companies will integrate those tools into their other platforms as well.
However, many US-based investors seem to forget how big of a reach Baidu has. The company is the sixth-most visited website in the world and is the No. 1 search engine in China.
There’s no question that the company will adopt AI practices to overhaul its search engine, it’s just a question of when it will do so and when the market will start to show the stock some love.
On June 26 at 10:00 pm ET, the company will hold its general annual meeting. Because of the late start time for many US-based investors, they should be on the lookout ahead of time. Any meaningful AI-related chatter — or lack thereof — could create some ripples.
Delta Air Lines (DAL)
All you have to do is visit an airport to know that travel is back in session. While the media frets about a recession and the Federal Reserve rambles on about inflation, consumers are out spending, flying, cruising, dining and traveling.
That’s clear when you look at the chart for Delta Air Lines (NYSE:DAL) as well, which recently rallied 15 sessions in a row. In that span, the stock gained almost 25%.
According to comments on the company’s first-quarter earnings call in April, the firm said:
“As we look to our upcoming Investor Day in June, we’ll outline the long-term opportunities that we’ve cultivated through years of investment, building on our industry leadership position and further enhancing our long-term financial profile.”
An update from the company may give a clearer sense for overall air-travel demand. While this will be company-specific for Delta, it could very well shine a light on the entire industry. Furthermore, it could shine a light on the travel sector as a whole. With these factors combined, this makes it one of those stocks to watch for major updates.
The event will be held on June 27 at 8:00 a.m. ET.
On the date of publication, Bret Kenwell did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
