Goldman Sachs – Wall Street Breakfast: The Week Forward
Adient (NYSE:ADNT) and Zoom Video (ZM) on November 30; Momo (NASDAQ:MOMO), Field (NYSE:BOX), NetApp (NASDAQ:NTAP) and Salesforce.com (CRM) on December 1; PVH (NYSE:PVH), Snowflake (SNOW), Zscaler (NASDAQ:ZS), 5 Beneath (NASDAQ:FIVE) and Splunk (NASDAQ:SPLK) on December 2; Kroger (NYSE:KR), Greenback General (NYSE:DG), Marvell Expertise (NASDAQ:MRVL), Cloudera (NYSE:CLDR) and Michaels Shops (NASDAQ:MIK) on December 3; Genesco (NYSE:GCO) on December 4.
No IPO pricing are anticipated subsequent week, however blank-check firm Seaport World Acquisition Corp (SGAMU) sponsored by Seaport World Asset Administration (SGAM) might launch. IPO lock-up durations expire on Pliant Therapeutics (NASDAQ:PLRX) and Nikola (NKLA) on November 30, Warner Music Group (NASDAQ:WMG) and ZoomInfo (NASDAQ:ZI) on December 1, in addition to Utilized Molecular Transport (NASDAQ:AMTI), Dada Nexus (NASDAQ:DADA), Legend Biotech (NASDAQ:LEGN) and Shift4 Funds (NYSE:FOUR) on December 2.
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A Salesforce.com (CRM) acquisition of Slack might be introduced as quickly as subsequent week. The tender supply for the acquisition by Endo of BioSpecifics (NASDAQ:BSTC) is about for December 1 and the go-shop interval on the Telenav (NASDAQ:TNAV)-V99 deal is December 2.
U.S. auto retail gross sales for November are anticipated to be up 2.9% from a yr in the past when adjusted for a similar variety of promoting days, in response to a forecast from TrueCar. Fleet gross sales are anticipated to be down 21% through the month. Common transaction costs are projected to be up 4.7% from a yr in the past. Whole SAAR is anticipated to lower 4% from a yr in the past to 16.3M items from 17M items. TrueCar forecast by producer – BMW (OTCPK:BMWYY) -4.3% to 29,106 items; Daimler (OTCPK:DDAIF) -21.0% to 26,033 items; Fiat Chrysler Vehicles (NYSE:FCAU) -6.3% to 144,538 items; Ford (NYSE:F) -8.7% to 152,395 items; General Motors (GM) +7.0% to 231,898 items; Honda (NYSE:HMC) -6.1% to 111,244 items; Hyundai (OTCPK:HYMLF) +5.1% to 58,334 items; Kia (OTCPK:HYMLF) +9.7% to 49,008 items; Nissan (OTCPK:NSANY) -8.4% to 75,306 items; Subaru (OTCPK:FUJHY) +2.3% to 51,480 items; Tesla ((NASDAQ:(TSLA))) +41.4% to 20,571 items; Toyota (NYSE:TM) +7.7% to 197,954 items and Volkswagen (OTCPK:VWAGY) -7.7% to 46,191 items.
The week forward might see extra concentrate on the implications for the tech sector of a Biden presidency and GOP Senate. Geopolitical danger has been hanging over the heads of Apple (NASDAQ:AAPL), Cisco (NASDAQ:CSCO) and semiconductor distributors extremely uncovered to China from a provide chain perspective, reminds Wedbush Securities analyst Dan Ives. As well as, there may be additionally Alphabet (GOOGLE) and Fb (NASDAQ:FB), which might face much less regulatory stress below a cut up authorities state of affairs. “A second key dynamic taking part in out within the tech world over the subsequent 12 to 18 months is the secular development areas round cloud and cyber safety which might be seeing eye-popping demand tendencies we’ve got not witnessed in our 20+ years of protecting tech stocks on the Street,” notes Ives. He says stalwarts similar to Microsoft (NASDAQ:(MSFT)) and Salesforce (CRM) are entrance and heart on this cloud path, whereas the underlying infrastructure and platforms enabling this shift stand to be main advantages of this spending surge. On a world look, Alibaba ((NYSE:(BA))(BA)), Tencent (OTCPK:TCEHY), and Baidu (NASDAQ:BIDU) look positioned strategically to learn from the acceleration of cloud spending throughout the U.S, Europe and APAC.
OPEC is anticipated to agree on stress-free the present manufacturing quotas at a gathering on November 30-December 1. Most analysts anticipate that the group will lengthen the present settlement for a interval of three months in 2021. “The technical groundwork has been laid down for OPEC+ to postpone a tapering of its output cuts,” notes BNP Paribas strategist Harry Tchilinguirian, “Now the political groundwork must be put in place.” Oil demand is seen normalizing to pre-virus ranges by 2022.
There isn’t a doubt that Nikola (NKLA) shall be carefully watched subsequent week with the expiration of a share lockup and the corporate going through a deadline for finishing an anticipated partnership cope with General Motors . Shares of Nikola have been swinging wildly over the previous few weeks and can face giant technical promoting stress after December 1 if insiders determine to take income, together with founder and former chairman Trevor Milton. Shares of Nikola are up greater than 40% during the last six weeks.
Analyst conferences and enterprise updates: Petrobas (NYSE:PBR) holds a two-day digital investor day beginning on November 30 throughout which the corporate will launch its 2021-2025 strategic plan. Nutrien (NYSE:NTR) additionally holds an investor day occasion on November 30. Discovery (NASDAQ:DISCA) will host a presentation on December 2 to debate its plans to launch a world streaming service, together with the overarching technique for the platform because it appears to be like to compete with CBS All Entry (NASDAQ:VIAC), NBCUniversal’s (NASDAQ:CMCSA) and streaming heavyweights like Netflix, Disney+, Hulu, Amazon Prime and Apple TV.
Conferences rundown: A lot of company conferences are operating subsequent week together with the Morgan Stanley Digital World Client & Retail Convention, Credit score Suisse Industrials Convention, Evercore ISI MedTools Convention, Goldman Sachs Industrials Convention, Bank of America Securities Digital Leveraged Finance Convention, Credit score Suisse Expertise Convention, Credit score Suisse Chemical substances Convention, Wells Fargo TMT Summit, Barclays Eat, Sleep, Play Convention and the Goldman Sachs World Automotive Convention.
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