TOP 5 STOCKS TO WATCH OUT 07 JANUARY 2020

TOP 5 STOCKS TO WATCH OUT 07 JANUARY 2020

1.Veoneer:– Automotive technology group Veoneer expects to have returned to organic sales growth in the fourth quarter of 2020 and sees growth accelerating in 2021, it said in a statement on Thursday.

The Swedish maker of vision systems, radar and software for advanced driver-assistance systems (ADAS) also said it estimated the current value of its order book for 2020 at approximately $14 billion.

The company said its new order intake for 2020 corresponded to an average annual value of around $530 million, of which 65% from active safety products.

Veoneer said it estimated its share of active safety orders for 2020 to be around 15%, above its current market share by sales.

2.  AMAZON :-– Amazon.com Inc said on Wednesday it would spend $2 billion to create affordable homes in regions where three of its major U.S. employment hubs are located.

The company said it intends to create at least 20,000 affordable housing units in the Puget Sound area of Washington State, Virginia’s Arlington and Nashville in Tennessee.

Amazon and other tech companies have faced criticism for driving up home prices in places such as the San Francisco Bay Area due to an influx of workers over the past decade, prompting Alphabet Inc and Facebook Inc to invest in affordable housing.

3.FOXCONN:-  Apple assembler Foxconn and the Nanjing Economic and Technological Development Zone have agreed to start building electric sport-utility vehicles in 2022 for cash-strapped Chinese startup Byton, Foxconn said in a statement on Monday.

Young Liu, chairman of Foxconn, said in the statement that the partnership with Byton will be a key part in Foxconn’s strategy in the electric vehicle (EV) industry.

Foxconn’s deal with Byton, its most concrete foray into the auto sector, amplifies the threat to established automakers that technology companies such as iPhone maker Apple and other non-traditional players could use contract assemblers as a shortcut to competing in the vehicle market.

By lowering manufacturing and the associated capital costs as a barrier to entry, contract assemblers could enable technology companies to focus on software and digital connectivity features that will define automotive competition in the coming years.

4.Moderna :-Moderna Inc is on track to deliver between 600 million and 1 billion doses of its COVID-19 vaccine this year, Chief Executive Stephane Bancel said on Thursday.

Bancel said Moderna had orders for 500 million doses of its vaccine and could comfortably make at least 600 million doses. He told a conference organised by Oddo BHF that the group was working to meet or even exceed a target for 1 billion doses, however.

Bancel said it was still not clear how long the antibodies generated by the vaccines would last, but added that it could potentially be a couple of years.

 5. CITI BANK :-Citi expects world stocks to hover around current levels in 2021 and cuts U.S. equities to “neutral” as lockdowns induced by fresh waves of COVID infections roil global economies.

The bank upgraded emerging market and UK equities to “overweight” in a note published on Thursday, citing their reasonable valuation and robust earnings momentum. It also expects weakening U.S. dollar to help these markets outperform.

With global equities trading at 20 times 12-month forward earnings, the Wall Street bank sees no further upside as the valuation is well above the long-term median of 15 times forward earnings.

U.S. valuations are at a whopping 23 times forward earnings.

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