After a week of IPO euphoria, which saw the shares of newly listed Airbnb (NASDAQ 🙂 and DoorDash (NYSE 🙂 skyrocket, investors could now turn their attention back to the Congressional stimulus package that so far has not covered the full political support needed to bring it about.
Both the and published their first weekly declines in three weeks, losing 0.6% and 1% respectively. The 0.7% drop for the week
This setback came as politicians continued their negotiations on a coronavirus relief package. Lawmakers are trying to pass a bill before the end of 2020, but media reports say disagreements about national and local incentives, unemployment benefits and the extent of incentive controls persist. Without new tax aid, millions of Americans could lose unemployment benefits in the new year.
Amid this uncertainty, investors will also receive the latest quarterly reports from some of the largest US companies that can provide greater insight into consumer behavior during the COVID-19 pandemic that continues to spread. Below are mega-cap stocks we'll be focusing on for the next week:
1. FedEx
& # 39; the world's largest parcel delivery service, FedEx (NYSE: ), will report earnings for the second quarter of fiscal year 2021 after the market closes on Thursday, December 17. On average, analysts expect earnings per share of $ 3.81 on revenue of $ 19.27 billion.
FedEx & # 39; s, arriving nearly a month ahead of most US companies, are being closely watched as delivery activity is viewed as a proxy for the global economy. The latest reports from the Memphis, Tennessee-based company show that the company is booming as it capitalizes on accelerating, pandemic demand.
With digital ordering increasingly becoming the default option for millions of people trapped in their homes as a result of the coronavirus outbreak, FedEx deliveries are increasing on the ground}}.
Chief Marketing Officer Brie Carere told Bloomberg News in September that FedEx expects the US market to reach 100 million parcels a day by 2023, three years earlier. than it previously expected.
As a result of this momentum, FedEx shares are up about 90% this year, to $ 289.47 on Friday. The company's latest guidelines can provide some clues as to how long this boom will last and whether this is the start of a long-term trend.
2. Nike
Nike (NYSE 🙂 will announce its earnings for the second quarter of fiscal year 2021 on Friday, December 18, after the market closes. On average, analysts expect the sportswear giant to report earnings per share of $ 10.55 billion on revenue of $ 0.62.
Nike is expected to report very strong numbers with the opening of brick-and-mortar stores and explosive growth in direct-to-consumer activities. . Based on this hope, investors sent Nike stock to a record high last week after climbing more than 35% this year. The stock closed at $ 137.41 Friday
Nike's strong brand and digital strategy have positioned the athletic shoe manufacturer of Air Jordan sneakers, among other sportswear, for long-term growth. The company returned to earnings and posted much better results than analysts had predicted, despite widespread global lockdowns and the cancellation of sporting events.
3. Pfizer
The Pfizer stock (NYSE 🙂 may show some activity after the drug manufacturer receives US approval for its COVID-19 vaccine Friday. Buying stock in the companies developing COVID-19 vaccines was a great gamble this year.
Some of the leading candidates in the race to defeat the deadly virus have more than doubled the value of their stocks. in just a few weeks.
The Food and Drug Administration's decision to approve the use of the vaccine developed by Pfizer and its German partner BioNTech (NASDAQ: {{1152992 | BNTX) will now trigger a complicated immunization push that will be launched across the country in the coming days.
Gen. Gustave F. Perna, the chief operating officer of the government's vaccine program Operation Warp Speed, said in a newsletter Saturday that vaccines are being packaged and will arrive at the first delivery sites Monday. Among the first to be vaccinated, health workers and seniors will live in long-term care facilities.
Stocks of Pfizer are up 20% over the past three months, closing at $ 41.12 Friday, while shares of BioNTech are up 94% over the same period.
