CVS – Bank of America – What to Expect From the Backyard BBQ King | Fintech Zoom
Money & Market Week Ahead for the week of August 2, 2021. Backyard barbecue staples will hit the market as Weber’s IPOs bid in the next few days.
Here are some things to watch out for over the next week on Wall Street:
Forefront of IPO: Weber Inc.
There are some Initial public offering (IPO) This week’s calendar.
Weber Co., Ltd. We plan to price the IPO on Thursday. Listed on the New York Stock Exchange under Fintech Zoom symbol WEBR.
what is that: Weber is based in Palatine, Illinois.
The company manufactures and sells outdoor gas, charcoal, electricity and wood pellet grills.
According to that S-1 / A filing Weber, along with the Securities and Exchange Commission, has experienced a combined annual growth rate of 10% since 1980.
In 2020, Weber generated $ 1.5 billion in net sales. This is up from the $ 1.3 billion the company reported in 2019.
In the three months to March 31, 2021, the company reported total net sales of $ 963 million, compared to the $ 596 million reported in the same three months of 2020. .. This is a 61.5% increase in net sales.
The company increased its year-over-year net profit from $ 50.1 million in 2019 to $ 88.8 million in 2020.
Offering: The company plans to sell 46.9 million shares in the $ 15 to $ 17 price range per share.
Weber also allows underwriters to purchase additional 7 million shares.
The intent is to raise about $ 712.5 million in this offering.The company spends that money Pay off $ 220.1 million in debt Buy back shares from pre-IPO investors.
At $ 17 per share, Weber sees a market capitalization of $ 5 billion.
According to the prospectus, BDT Capital Partners owns control of Weber and retains 56% of voting rights after the IPO begins.
Goldman Sachs, JP Morgan, Barclays, Citi, Wells Fargo Securities, Bank of America Securities, UBS Investment Bank, BMO Capital Markets and Keybank Capital Markets are all lead managers of this transaction.
skinny: Weber Inc. Likes how to set up financially.
Net sales and profits increased significantly year-over-year, including in 2020, which benefited from the acceleration of “specific trends that benefited the industry”.
Weber offers a wide range of grills and grill accessories, making it a global leader in the industry.
I don’t like investing in an IPO right away, but I think Weber has a lot of potential, even after the dust from the IPO has settled down.
We are in the middle of a profit season and there are a lot of celebrities reporting quarterly numbers next week.
Automakers’ call for profits will fall on Wednesday.
It is not known that GM is below expectations. The car maker has not fallen below its per-share estimate since the second quarter of 2015.
And the quarter after the March 2020 COVID-19 crash was impressive when it came to beats. GM more than doubled its forecast for the first quarter of 2021, which reported growth in earnings per share of $ 2.25, compared to analysts’ forecast of $ 1.05 EPS. It was nearly 30 cents higher than last quarter.
Revenues are a little different.
GM reported $ 32.5 billion, down from the previous quarter’s earnings forecast of $ 33 billion.
In the fourth quarter of 2020, automakers met expectations of $ 37.5 billion, barely surpassing Wall Street’s forecasts for the previous quarter.
skinny: GM’s stake was a top performer in the automotive industry in 2021 with a profit of over 40% year-to-date.
It’s interesting to see that the company’s earnings announcement on Wednesday reveals its electric vehicle initiatives. The automaker is focused on becoming a leader in the EV and self-driving fields and should have a significant impact on future stock prices. It faces some recent setbacks, including another recent recall of the problematic Chevrolet Bolt EV model due to a fire-causing battery defect.
Note that in the short term, GM is talking about supply lines. Automakers are addressing a major semiconductor shortage due to the interruption of COVID-19 and are putting dampers on production.
HSBC Holdings plc (NYSE: HSBC)
Eli Lilly and Company (NYSE: LLY)
ConocoPhillips (NYSE: COP)
Activision Blizzard Inc. (Nasdaq: ATVI)
Toyota Motor Corporation (NYSE: TM)
CVS Health Corp. (NYSE: CVS)
Kraft Heinz (NYSE: KHC)
Square Inc. (NYSE: SQ)
Regeneron Pharmaceuticals Inc. (Nasdaq: REGN)
Dominion Energy Inc. (NYSE: NS)
Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH)
Note: Next week I will hand over this article to our assistant managing editor, Chadstone. In addition to the research and analysis of Adam and Charles, we will continue to focus on providing safe, sound, smart, simple and profitable investment information. Rest assured that Chad knows himself and will continue to provide the insights he needs to prepare for the next trading week. -mat
Matt Clark, CMSA®
Survey analyst, Money & Market
Matt Clark is a research analyst Money & Market.. He is a Certified Capital Markets & Securities Analyst at the Corporate Finance Institute and In search of alpha..Before joining Money & Market, He has been a journalist and editor for 25 years, responsible for college sports, business and politics.
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