Warren Buffett speaks, Shake Shack earnings, Nevada caucus reaction: 3 things to watch for Monday

Warren Buffett
Gerard Miller | CNBC

Here are the most important things to know about Monday before you hit the door.

1. Warren Buffett on the record

Berkshire Hathaway's Warren Buffett will publish his much-awaited shareholder letter on Saturday, a tradition that dates back to 1977. Buffett's letter typically gives Wall Street an idea of how he and his partner Charlie Munger view the current state of the stock market.

The "Oracle of Omaha" told CNBC this time last year that despite Berkshire's underwhelming performance in the past few years, he was keen to make an "elephant sized" acquisition for the portfolio.

Buffett will also sit down with CNBC's Becky Quick on Monday from 6 a.m. to 9 a.m. to answer her and CNBC viewers' questions.


2. Shake Shack set to report

Fast food chain Shake Shack reports fourth quarter earnings after the bell on Monday. Analysts polled by FactSet are expecting Shake Shack to say it broke even last quarter, compared to the 6 cents per share it earned a year earlier. Revenue is forecast to come in at $153 million and increase from the $124.3 million in sales reported a year prior.

Shares of Shake Shack have rallied more than 25% so far in 2020, but dipped on Friday after being downgraded to hold from buy by SunTrust. The firm said it sees near term headwinds that could impact 2020 guidance. Analysts will be looking to see how Shake Shack's exclusive partnership with GrubHub effected the fourth quarter.

3. Nevada caucuses reaction

Nevada holds its Democratic caucuses on Saturday. Vermont Senator Bernie Sanders maintains a lead in national polls and held a 19-point edge in Nevada, according to a survey released Monday. The Nevada caucuses could present an opportunity for former Vice President Joe Biden, who maintained the lead for months, to bounce back against Sanders. After loses in Iowa and New Hampshire, Biden tried to assure donors he would win Nevada.

The results from Nevada are slated to release Saturday evening. Analysts have said Bernie Sanders' progressive policy plans could cause the stock market to fall and hurt health insurance stocks, while others said his win would boost equities because he would be easy for President Donald Trump to defeat.

Major events (all times ET):

10:30 a.m. Dallas Fed manufacturing

Major earnings:

HP (before the bell)

Intuit (before the bell)

Shake Shack (after the bell)

— with reporting from CNBC's Tom Franck.