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CES preview: One of the biggest tech conferences of the year takes place in Las Vegas from January 5-8 even as some companies pull back on their level of participation due to COVID. T-Mobile (NASDAQ:TMUS), Amazon (NASDAQ:AMZN), Meta (NASDAQ:FB), Twitter (NYSE:TWTR) and Pinterest (NYSE:PINS) are some of the big names not conducting in-person presentations and meetings. Chipmakers will be closely watched at the tech event with AMD (NASDAQ:AMD) expected to reveal the company's next generation of Ryzen processors based on the Zen 4 architecture. The new Ryzen 5000 CPUs will be first to use AMD's 3D chiplet technology. Meanwhile, Intel (NASDAQ:INTC) is poised to reveal details on its multi-segment Alder Lake CPU architecture and the first line of Arc gaming GPUs. This year, CES will see an even bigger focus on auto tech with electrification and autonomous vehicle initiatives in full throttle. General Motors (NYSE:GM) is previewing its all-electric Silverado truck built off the Ultium platform and BMW will show off a new breakthrough that allows drivers to change the color of their color with the press of a button. EV charging specialist Blink Charging (NASDAQ:BLNK) is scheduled to introduce several new products that could bring the stock may attention. Other notable auto and tech companies making an appearance include Nvidia (NASDAQ:NVDA), Micron (NASDAQ:MU), Lear (NYSE:LEA), Velodyne (NASDAQ:VLDR) and Luminar Technologies (NASDAQ:LAZR). Also look for consumer giants like Walmart (NYSE:WMT), CVS (NYSE:CVS) Nike (NYSE:NKE), Amazon (AMZN) and Best Buy (NYSE:BBY) to make a splash with tech initiatives of their own to be showcased at CES.
OPEC meeting: The first OPEC+ meeting of the year takes place with Saudi Arabia and other participants mostly positive on the outlook for oil demand recovery. The producer alliance is expected to push ahead with a planned 400,000 barrels per day production increase in February. Oil prices have been under some pressure after U.S. airlines cancelled thousands of flights during the holidays due in part to COVID issues.
Corporate events: FactSet Research Systems (NYSE:FDS) will host a conference call on January 5 to discuss its deal to acquire CUSIP Global Services from S&P Global for $1.925 billion in cash. On the same day, Edgewise Therapeutics (NASDAQ:EWTX) is scheduled to report the topline results from the Phase 1b clinical trial of EDG-5506 in individuals with BMD. Shares of Edgewise Therapeutics soared earlier this year after the FDA granted Fast Track designation for the treatment. On January 6, ADTRAN (NASDAQ:ADTN) shareholders meet to vote on the deal to acquire ADVA (OTCPK:ADVOF). The deal is expected to form a global fiber networking leader with combined revenue of $1.2 billion. The merger is expected to close in the second or third quarter of 2022.
Barron's mentions: The publication dives headfirst into the semiconductor sector to start off the new year. The PHLX Semiconductor Index is noted to have almost doubled the gain of the Nasdaq Composite in 2021, but is now trading at 7.9X projected sales, which is double the historical 10-year average. After crunching the numbers on semi stocks, Micron Technology (MU), Amkor Technology (NASDAQ:AMKR), Qorvo (NASDAQ:QRVO), Skyworks Solutions (NASDAQ:SWKS), Intel (INTC), Qualcomm (NASDAQ:QCOM), Microchip (NASDAQ:MCHP), NXP Semiconductors (NASDAQ:NXPI) and Applied Materials (NASDAQ:AMAT) are called out as some of the most attractive picks. Another stock catching some positive attention is Graham Holdings Company (NYSE:GHC), which is described as a small-scale version of Warren Buffett's conglomerate and said to be an inexpensive stock in a richly valued market. GHC is seen having a potential catalyst in the spinoff of its TV business
Sources: EDGAR, Bloomberg, CNBC, Reuters, Renaissance Capital
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