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Key corporate events to watch: It is a busy week of investor day events as a large number of companies pushed their presentations dates to ahead of the holidays. ADP (NASDAQ:ADP), Switch (NYSE:SWCH) and Voya Financial (NYSE:VOYA) hold investor days on November 16, Qualcomm (NASDAQ:QCOM) will follow with its high-profile presentation on November 17, while Teladoc Health (NYSE:TDOC), COty (NYSE:COTY), Five9 (NASDAQ:FIVN) and Zendesk (NYSE:ZEN) are on the schedule for November 18. Also on the calendar, Johnson & Johnson (NYSE:JNJ) holds a business review of its Pharmaceuticals business, including details on its differentiated strategy and pipeline and Palo Alto Networks (PANW) holds its Ignite 21 event. In the SPAC world, the business combination between Virtuoso Acquisition Corp. (NASDAQ:VOSO) and auto data firm Wejo could close. Notably, General Motors (NYSE:GM) is one of the early backers of Wejo. See a detailed rundown of all the big events that could impact shares prices.
Los Angeles Auto Show: The Los Angeles Auto Show starts at the end of the week with startups like EVgo (NASDAQ:EVGO), Electrameccanica (NASDAQ:SOLO), EdisonFuture and Mullen Automotive just some of the companies looking to make a splash. The all-electric Ford (NYSE:F) F-150 Lightning and Mustang Mach-E will make appearances there and Volkswagen's (OTCPK:VLKAF) VW Roadshow will invite attendees to discover the company's ID.4, Taos, Atlas, and Tiguan via a closed-track experience. Kia Motors (OTCPK:KIMTF) is planning to show off latest all-electric concept, the Kia EV9 SUV, while Subaru (OTCPK:FUJHY) will showcase its Solterra model that is being aimed at the mass-market market. The auto show is also being circled as a possible catalyst for Fisker (NYSE:FSR) due to the potential of attracting positive reviews for the debut of its Ocean SUV. The SUV is noted for utilizing sustainable materials to highlight its green credentials and have a solar roof that can also help with charging. An 80-kilowatt-hour battery will be supplied to Fisker by China's CATL. Magna International (NYSE:MGA) is set to handle final production of the Ocean in Austria.
Spotlight on small caps: Bank of America thinks small caps continue to look like a bargain relative to large caps as it notes the group trades at a historical discount to large caps in regard to price/book, price/sales, EV/free cash flow and P/E to growth ratios. The firm suggests that the historical relationship between valuation and subsequent returns means small caps should lead large caps. Breaking it down further, the financials sector gets special attention from BofA, which means the Invesco S&P SmallCap Financials ETF (NASDAQ:PSCF) could be an intriguing play.
Stock splits: The Arista Networks (NYSE:ANET) four-for-one stock split is effective on November 18.
Barron's mentions: The mall sector makes the cover this week in front of what is expected to be a potentially record-setting holiday season. While supply chain issues and inflationary pressures still loom, many retailers have workarounds to protect their margins. Mall traffic has been strong in general following the vaccination push and Macy's (M), Nordstrom (NYSE:JWN), Famous Footwear parent Caleres (NYSE:CAL) and Signet Jewelers (NYSE:SIG) are all up more than 100% over the past 12 months after suffering pandemic plunges. Meanwhile, General Electric (NYSE:GE) is sized up after its announcement of a plan to break into three companies. After computing the expected valuations of the new spinoff companies, GE is said to trade 20% below the combined market cap of the three new companies.
Sources: EDGAR, Bloomberg, CNBC, Reuters, Renaissance Capital
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