Within a week cut short to the start of the Christmas holidays, investors will follow developments on Capitol Hill, where reports say at the time of writing}} US lawmakers have ironed out remaining bottlenecks for an additional stimulus bill and are ready to vote on the aid package on Sunday. Uncertainties on that front edged investors Friday as major stock indices fell, ending their three-day winning streak.
Barring last-minute bottlenecks, the vote could generate $ 900 billion in additional aid to people and businesses affected by the COVID-10 pandemic. As the stimulus package is the main market-changing event ahead of the New Year holiday, below are three stocks that we'll be checking for their company-specific news next week.
1. Tesla
Investors will keep a close eye on Tesla (NASDAQ 🙂 Monday, when the electric car maker becomes part of the Index, the blue chip status and mastered one of the top weights in this prestigious benchmark.
In the run-up to this historic moment, Tesla's stock has skyrocketed, rising about 43% over the past 30 days. It closed 5.96% on Friday at $ 695 a share.
Boosting Stocks Now: The move requires index funds tracking the SPX to buy billions of dollars worth of Tesla stock to match their holdings with the broader table of contents. With a market cap of more than $ 600 billion after rallying 700% this year, the Palo Alto, California-based electric vehicle manufacturer will enter as the seventh-largest company by weight on the index.
The turnaround in Tesla's fortunes came this year after the company had successfully completed a giga-factory in China for five consecutive quarters and started construction of another similar factory in Germany.
Before the S&P debut, many analysts warned that Tesla stocks are vulnerable to a significant decline after the SPX listing, as the stock's rise in value was unmatched by similar increases in the company's financial results. company.
2. Moderna
Moderna (NASDAQ 🙂 stocks may show some activity after the drug company received emergency use clearance in the US on Friday for its COVID-19- vaccine. 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. Moderna's COVID-19 vaccine is the second vaccine to receive an emergency permit from US regulators this month, following the vaccine developed by drug giant Pfizer (NYSE 🙂 and its German partner BioNTech (NASDAQ: {{1152992 | BNTX ).
The vaccine is the first Moderna product, with supplies up more than 600% this year, to be released for use. Delivery of the vaccine to the U.S. government will begin immediately, and an application for full approval is expected next year, Moderna said in a statement.
"I am proud of what the Moderna team has achieved in collaboration with our partners.," Said Stéphane Bancel, the company's chief executive officer.
"We remain focused on scaling up production to help us protect as many people as possible from this terrible disease."
3. Nike
Nike (NYSE 🙂 stocks are likely to gain interest in the next trading week after the world's largest sportswear company reported that Wall Street's expectations the close of Friday were surpassed. The positive results were fueled by e-commerce sales and recovering growth in China.
Sales were up 8.9% to $ 11.2 billion in the quarter ended November 30, while earnings rose to $ 0.78 per share, from an estimate of $ 0.62.
"These are times when strong brands are getting stronger," said Chief Executive John Donahoe during an earnings conference call.
"Permanent shifts to digital apparel, sportswear and health and wellness continue to provide us with incredible opportunities."
With sales gaining momentum after the pandemic slump, Nike (NYSE 🙂 raised its fiscal outlook for 2021 and called for revenues to increase year-over-year by a low percentage of teenagers. Nike shares rose more than 5% in non-business hours trading, contributing to their rise from 35% this year. They closed at $ 137.28 on Friday.
