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Seemingly out of nowhere, an overlooked group of stocks has exploded higher by 125% so far this year. Only one analyst on Seeking Alpha had his readers perfectly positioned in these "sleeper" stocks before their run up.
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Earnings buzz: The list of earnings reporters on Bank of America's list of stocks that screen well for a positive earnings surprise include Occidental Petroleum (NYSE:OXY), MetLife (MET), American International Group (NYSE:AIG), IDEXX Laboratories (NASDAQ:IDXX) and CenterPoint Energy (NYSE:CNP). Meanwhile, Wells Fargo thinks Carvana (NYSE:CVNA) could see some investor interest if execs add more details on the deal with Hertz Global (OTCPK:HTZZ) during its earnings call next week.
Allbirds IPO preview: Allbirds (BIRD) will go public next week as it looks to cash on its reputation as a sustainable source of fashionable footwear and appael. The retail upstart expects to bring in about $220M to help fund growth and sees a valuation of around $2 at the high end of the expected range. Allbirds disclosed revenue for Q3 of between $61M and $62.5M vs. $47M a year ago and losses of around $15M to $18M vs. $7M a year ago. Allbirds competes with Nike (NYSE:NKE), Crocs (NASDAQ:CROX), Deckers Outdoor (NYSE:DECK) and Ecco Sko.
Barron's mentions: Battery manufacturing is on the cover this week as the publication points out that the automobile industry wants to grow battery capacity 4X by the middle of the 2020s to meet the announced EV goals of major automakers. The industry is aiming to get battery costs down to as low as $60 a kilowatt-hour by the end of the decade, which requires improving every part of the battery and its manufacturing process, including the supply chain. The best bets on the huge ramp up in batteries? Legacy automakers General Motors (NYSE:GM) and Ford (NYSE:F), lithium producer Albemarle (NYSE:ALB) and Korean chemicals giant LG Chem (OTCPK:LGCLF) make the list of potential big winners in the race toward vehicle electrification. The publication also pitches the upside case for Sonos (NASDAQ:SONO) this week. The company is seen having significant upside left in its core market and could benefit from licensing payments tied to a valuable patent portfolio.
Sources: EDGAR, Bloomberg, CNBC, Reuters, Renaissance Capital
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