Reddit files for an IPO: The IPO to be: Reddit - The numbers - Investing & Markets - Vested Community
This year was the biggest IPO year, and here’s something to know if you love Nuclear technology; NuScale is to go public through a SPAC. We’re seeing an actual acceleration in the desire for carbon-free nuclear power Small Nuclear Developer NuScale to Go Public Through SPAC Deal - Bloomberg
Scrutiny of Big Tech continues, Meta’s acquisition of Supernatural, a VR based fitness app the deal is valued at $400M, Microsoft’s Nuance Deal worth $16M is also being scrutinised.
Toyota is investing $35B to shift to EVs, setting its goal for carbon neutrality. It has prospects of selling 3.5M EVs annually by 2030, having a lineup of 30 EV models, including sports cars and commercial vehicles. The target is up from 2M to 3.5M for 2030. The cash will be equally divided between car development and continuing investment in battery improvement.
Rivian announces that it is investing the IPO money into a $5B factory in Georgia and developing its battery technology. It will upgrade its Illinois factory from 150k to 200k EVs/year, and the new Georgia factory will make 400k vehicles a year and include a co-located battery cell production. Construction will begin in the summer of 2022 and production at the start of 2024.
Arcturus Therapeutics Holdings was up by 16% as it announced positive news regarding two early-stage vaccine trials and is also focusing on mRNA medicines. The vaccine is being evaluated as a booster and a primary vaccine.
AT&T was up by 7% as it was upgraded to overweight from equal-weight at Morgan Stanley, though lowered price target; highlighted recent underperformance creating an attractive risk/reward opportunity and the close of the WarnerMedia and Discovery merger by mid-2022, which should start more focused Communications business.
Accenture was up by around 7% as it reported 1Q revenue, operating income, and EPS being above consensus. 2Q revenue guidance was ahead of consensus. Management raised FY22 GAAP EPS and FCF guidance.
Adobe declined by around 10% as its 4Q revenue was above consensus while EPS was in-line. Both 1Q/FY22 revenue and EPS guidance were below consensus. Management expects TAM to expand by 2024. The CTO is also departing.
Feds also announced an increase in bond buying and will announce three rate hikes next year.
Apple CEO Tim Cook told employees that the return to physical offices is delayed indefinitely.
Here are the trends for this week:
That’s all for now folks!