Stocks in 2021

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"Micron delivered outstanding fiscal first-quarter results, driven by focused execution and strong end-market demand," Micron CEO, Sanjay Mehrotra said.

The memory chip maker Micron Technology (NASDAQ: MU) reported better-than-expected earnings for its fiscal first quarter on Thursday after the market close. The company sales climbed 12% on a year-over-year basis and gross margin also improved from 27.3% in the previous year to 30.9%.

  • Earnings per share: $0.78 vs. $0.71 expected
  • Revenue: $5.77 billion vs. $5.73 billion expected
The semiconductor manufacturer said that its DRAM sales in the recent quarter accounted for 70% of its total revenue. For its second fiscal quarter, Micron expects to earn an adjusted 75 cents a share on sales of $5.8 billion.

HASH


On Thursday, the $MU stock advanced 2.5% during regular trading, to $79.11 and the shares climbed 4% during the extended trading session after the company reported strong earnings results.

Read more- https://gulfbrokers.com/en/micron-earnings-beat-estimates-stock-hits-new-52-week-high
 

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In 2020, the financial market has seen the highest IPO capital raising activity in a decade, with USD 331 billion raised across 1,591 listings – a 42% increase compared to 2019.

Some of the notable IPOs in 2020:

  • Airbnb Inc (NASDAQ: ABNB)
  • DoorDash Inc (NYSE: DASH)
  • Snowflake Inc (NYSE: SNOW)
  • Unity Software Inc (NYSE: U)

In 2021 there is a solid pipeline of companies preparing for capital raises through IPOs. Here are the 5 IPOs you need to watch for this week.

1. AFFIRM HOLDINGS

San Francisco-based Affirm Holdings to go public with a valuation of $ 9 billion which will trade on the Nasdaq under the acronym "AFRM," at $ 33-38. Affirm Holdings allows consumers to purchase goods and make payments in instalments and it provides services to more than 6.2 million clients.

2. DRIVEN BRANDS

The North Carolina-based company Driven Brands, which will be listed on the NASDAQ exchange using the symbol “DRVN.” is offering 38,000 shares of its common stock, which is expected to go for $17 to $20 per share and could raise of $700 million. Worldwide, Driven Brands operates 4,100 locations in 15 countries. The company reports $900 million in revenue on $3 billion worth of sales from all its holdings.

3. PLAYTIKA HOLDING

Playtika is a leading developer of mobile games plans to raise $1.6 billion by offering 69.5 million shares at a price range of $22 to $24. The Israel-based company plans to list on the Nasdaq under the symbol PLTK. Playtika posted an all-time high of 11.8 million average daily players of its games in Q2 2020.

4. POSHMARK

The online shopping site Poshmark plans to raise USD 244 million by offering 6.6 million shares at a price range of $35 to $39. The company will list its shares on the Nasdaq Global Select Market under the symbol POSH. The site acts as a form of social commerce. As of Sept. 30, the company boasted 4.5 million active sellers, 6.2 million active buyers and more than 201 million listed items, with 31.7 million active users overall.

5. PETCO

Pet supplies retailer Petco plans to raise $744 million by offering 48 million shares at a price range of $14 to $17. It plans to list on the Nasdaq under the symbol WOOF. Petco was founded in 1965, the retailer sells food, toys, medical products for animals, and provides veterinarian, training, and grooming services.

Read more- https://gulfbrokers.com/en/5-ipos-to-watch-out-for-this-week
 

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"Our strategy is simple: if we can continue to improve Netflix every day to better delight our members, we can be their first choice for streaming entertainment," Netflix said.

The entertainment giant Netflix (NASDAQ: NFLX) shares climbed more than 13% in during pre-market trading on Wednesday after the company reported strong Q4 financial results on Tuesday after market close. Netflix’s revenue increased 21%, to $6.6 billion, compared with $5.4 billion for the same period a year ago. Meanwhile, the company Profits dipped to $542 million in the fourth quarter, compared with $587 million in the same period in 2019.

  • Earnings per share (EPS) $1.19 vs. $1.39 expected
  • Revenue $6.64 Billion vs. $6.63 Billion expected
The company reported strong growth in subscriber numbers to more than 200 million and added 8.5 million net new paying subscribers during the fourth quarter. For the current quarter, Netflix expects to add 6 million new subscribers worldwide. Around 83% of the new subscribers are from outside the U.S. and Canada.

HASH


Netflix stock increased as high as $568 in after-hours trading. If the bullish momentum continues the stock will hit a new all-time-high by this week. The stock rallied more than 65% last year.
 

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Both Tesla and Bitcoin (BTC) price has had a strong rally, making it one of the best-performing assets in 2020. Tesla joined the prestigious Standard & Poor's 500 stock index on December 21 after posting five consecutive quarters of profit. $TSLA surpassed Facebook in terms of market value, becoming the fifth most valuable company in the S&P 500.

Bitcoin climbed to a new all-time high last week. The recent Bitcoin rally boosted after the US-based online payments company PayPal allowed its customers to use the virtual currency on its network. Several major banks also exploring the possibility of allowing the issuance of virtual currencies.

Tesla and Bitcoin fundamental outlook

Tesla reported its fifth consecutive quarterly profit on October 22, 2020, with revenue of US$8.8 billion. The automaker delivered 139,300 vehicles in this quarter, beating the company’s previous record of 112,000 vehicle deliveries in the fourth quarter of 2019. The company will release its Q4 financial results on Wednesday, Jan. 27.

During the last week, Bitcoin (BTC) dropped more than 10% following the bearish comments from the European Central Bank President Christine Lagarde. “Bitcoin is a highly speculative asset, which has conducted some funny business and some interesting and totally reprehensible money laundering activity,” Christine Lagarde said.

$TSLA technical outlook

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Tesla shares rallied more than 700% in 2020. Technically the stock overall momentum remained bullish, but during the last week, the stock fell around 6% after the stock showed some weakness in the upside run. On Tuesday, the stock closed 2.2% higher after the automaker starts delivering first Shanghai-made Model Y crossovers in China.

In the short term, the key level remains this month high $880 as a break above would increase the potential of an extension towards $1000/1050 over the coming days. On the flip side, any pullback might now be seen as a buying opportunity.

BTCUSD technical outlook

BITCOIN


The cryptocurrency rose more than 300% in 2020 and rallied by 50% in December alone. On Tuesday, the BTC closed slightly lower after the Treasury secretary nominee and former Federal Reserve chair Janet Yellen said that cryptocurrencies are being used "mainly for illicit financing."

In the short term if the price breaks above 38,200 which would open doors towards 40000/40400 and above that 41300 is next. On the flip side, if it breaks below 33400 then the next important support levels to watch 31000/30,400 and 28300.

Conclusion



According to Gulf Brokers, Bitcoin may give higher returns while it is incredibly speculative and highly unpredictable, so it’s better to diversify with more secure assets. Tesla has acquired a substantial market share in the electric vehicle market. The company makes good on its promise to keep ramping up deliveries. In 2020, Tesla delivered 499,550 cars to customers and produced 509,737 units. In addition, production at the new Gigafactory in Shanghai should help boost future growth, as China has the biggest electric vehicle market. Tesla is a value-based asset, on the other hand, as a corporate share it is still a volatile kind of instrument and investors should take into account the risks of losing their investments.

Trading is risky and your entire investment may be at risk. Please ensure that you fully understand the risks involved.

Read more- https://gulfbrokers.com/en/tesla-or-bitcoin-two-ground-breaking-assets-of-the-covid-era
 

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Tech stocks Intel (NASDAQ: INT) and IBM (NYSE: IBM) reported Q4 financial results on Thursday.

Intel Q4 earnings and revenue beat the Wall Street estimates while IBM posted mixed results.

“Intel is in a strong strategic and financial position as we make this leadership transition and take Intel to the next level.” Intel CEO, Bob Swan said.

Both Intel and IBM shares fell 4% and 7% in extended trading on Thursday.
 

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Wall Street closed lower on Monday as investors remained cautious about the ever-increasing coronavirus cases. Moving ahead, this week the main attention will be on the Q4 earnings season. Tesla, Apple, Facebook, Microsoft, and Boeing are among the big giants to report this week. Apple and Tesla shares surged to a fresh all-time high on Monday while Microsoft stock shy to break the previous 52-week high ahead of the reports.

During the last week, several tech firms including IBM and INTEL reported mixed earnings results. While the entertainment giant Netflix again surprised the investors with strong Subscribers numbers and the company revenue increased 21%, to $6.6 billion.

This week the big tech firms include Apple, Facebook, Microsoft, AMD, and Honeywell all report quarterly earnings. Microsoft (NASDAQ: MSFT) kicks off tech earnings on Tuesday and $MSFT stock closed 1.5% higher on Monday. On Wednesday, along with Facebook (NASDAQ: FB), the tech giant Apple Inc. (NASDAQ: AAPL) is scheduled to report fourth-quarter results.

On the other hand, Tesla (NASDAQ: TSLA) also will report the Q4 financial results on Wednesday, Jan 27. The automaker reported its fifth consecutive quarterly profit on October 22, 2020, with revenue of US$8.8 billion. Tesla shares trading extra volatile ahead of the announcement. The stock climbed to a fresh all-time high of $900 and closed 4% higher on Monday.

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There are few other major companies also reporting quarterly results this week


Advanced Micro Devices (NASDAQ: AMD) - after market close on Tuesday


Boeing Co (NYSE: BA) - before the markets open on Wednesday


Abbott Laboratories (NYSE: ABT) - before the markets open on Wednesday


McDonald’s Corp (NYSE: MCD) - before the markets open on Thursday


Mastercard NYSE: MA - before the markets open on Thursday


Visa Inc (NYSE: V) - after market close on Thursday


Caterpillar Inc. NYSE: CAT - before the markets open on Friday


Read more- https://gulfbrokers.com/en/big-week-for-q4-earnings-tsla-appl-msft-fb
 
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