It's been a bumpy start to summer on Wall Street. Can July save the season?
We'll find out. There will be plenty of events that can potentially shape -- or shake -- the market this month. Here are a few of the days that I plan to approach with eyes wide open.
July 7
China's Agricultural Bank is set to price its IPO next Wednesday, and begin trading on the Hong Kong and Shanghai exchanges the following week. The roughly $23 billion deal will be a world record, and a lot is riding on AgBank's smooth debut.
It's about more than just validating China for investors; global trading has been rocky in recent weeks and could use a shot of good news.
A hot IPO won't cure all of the market's ills, though. We saw this closer to home, when Tesla Motors (Nasdaq: TSLA) had a monster debut on Tuesday, but stocks still took a beating.
July 15
It's fitting that Google (Nasdaq: GOOG) should deliver its second-quarter results on the same day that China's AgBank is tentatively set to hit the market in Shanghai.
Google made headlines earlier this week by offering an olive branch to Chinese regulators in an attempt to retain its presence in the world's most populous market.
China may play a major part in the leading search engine's conference call, but it won't be much of a factor when it comes to trailing financials. Analysts see earnings climbing 22% to $6.55 a share.
July 16
Bank of America (NYSE: BAC) and Citigroup (NYSE: C) will report their quarterly results on the same day, giving investors a panoramic snapshot of the banking industry.
What kind of impact will financial reform have on their operations? Are consumers defaulting on loans? Are banks lending in the first place? Bank of America and Citi will help flesh out these beefy questions.
July 17
The new Abercrombie & Fitch (NYSE: ANF) catalog is released. If you think that a slick publication is no cause to celebrate, let's revisit the significance of this particular event.
It's been seven years since the apparel retailer has put out its risque quarterly catalogs. The promotional material with scantily clad hardbodies was as controversial as it was successful in establishing A&F as a brand for the pretty young people to wear.
The retailer has stumbled in recent years. It has started to inch back with positive results, but we're also comparing A&F to last year's depressed metrics.
A little notoriety can't hurt at this point. A&F's rudderless ways make this a refreshing move. The first bone of headline-garnering contention: A&F's catalog will set shoppers back $10 for a copy.
July 20
Fans of disappointment may as well sleep in when Apple (Nasdaq: AAPL) reports. The Cupertino tastemaker has been blasting through Wall Street's quarterly profit estimates for years, so why should this be any different?
Apple's success is well-documented, and this is the quarter in which the company added the iPad and iPhone 4 to its arsenal. There were no rookie jitters, with Apple moving 3 million iPads in less than three months and 1.7 million iPhone 4 smartphones in just three days.
Apple became the country's second most valuable company in market cap during the quarter, and it would only be a shock if Apple fails to wow the market yet again.
July 27
The languishing video game industry will be looking for a boost when Activision Blizzard's (Nasdaq: ATVI) Starcraft II: Wings of Liberty hits the market. The world's leading publisher is hoping to breathe new life into its Starcraft franchise, and with it a social makeover of its Battle.net online gaming portal.
This could be more important than last year's release of Call of Duty: Modern Warfare 2, though obviously not in terms of title production. It will be hard to top that record-breaking release's sales and juicy $1.5 billion in cash flow. The cruel twist, though, is that net quarterly revenue actually fell during Modern Warfare 2's release, because it takes a gaming village -- and not just one tent pole release -- to keep the industry's top dog growing.
The Battle.net redo will allow gamers across different Activision Blizzard platforms to set up multiplayer challenges. It may be the viral trigger with a social bent to truly turn the industry around.
What are you looking forward to this month? Check in with your expectations in the comments box below.
