Barron's - USA (2021-02-08)

M36 BARRON’S February 8, 2021

SELECTEDINITIALPUBLICOFFERINGS

Initial Most Ticker Offer IPO Recent % Code Price Date Price Chg

AltimarAcquisitionII ATMRU 10.00 2/5 10.60 6.0%

ComputeHealthAcquiCPUHU 10.00 2/5 10.54 5.4% ImmunocoreHoldingsIMCR 26.00 2/5 43.20 66.2%

LandosBiopharma LABP 16.00 2/5 11.05 -30.9% Pharvaris PHVS 20.00 2/5 29.00 45.0%

TernsPharma TERN 17.00 2/5 18.39 8.2%

AstreaAcquisition ASAXU 10.00 2/4 10.19 1.9% AtlasCrestInvestII ACIIU 10.00 2/4 10.56 5.6%

Atotech ATC 17.00 2/4 19.00 11.8% CentricusAcquisitionCENHU 10.00 2/4 10.50 5.0%

ItiquiraAcquisition ITQRU 10.00 2/4 10.35 3.5% NovusCapitalII NXUU 10.00 2/4 11.18 11.8%

SanaBiotechnology SANA 25.00 2/4 39.12 56.5%

SenseiBiotherapeu SNSE 19.00 2/4 22.49 18.4% CCNeubergerPrinIII PRPCU 10.00 2/3 10.58 5.8%

Gaming&HospitalityGHACU 10.00 2/3 10.40 4.0% KernelGroup KRNLU 10.00 2/3 10.30 3.0%

MusicAcquisition TMACU 10.00 2/3 10.70 7.0%

ON24 ONTF 50.00 2/3 69.00 38.0% TELUSInternational TIXT 25.00 2/3 31.58 26.3%

AresAcquisition AACU 10.00 2/2 10.55 5.5% JawsMustangAcqui JWSMU 10.00 2/2 10.84 8.4%

MDHAcquisition MDHU 10.00 2/2 10.27 2.7% NobleRockAcqui NRACU 10.00 2/2 10.50 5.0%

ThimblePointAcqui THMAU 10.00 2/2 10.35 3.5%

Latest Latest Preceding Year YroYr Date Data Period Ago %Chg

PULSEOFTHEECONOMY

Onlyincludesnewreports. Latest Latest Preceding Year YroYr
EconomicGrowthandInvestment Date Data Period Ago %Chg

No Activity for this Week

Production

Electric power, (mil. kw hrs) (EEI) .................................................. Jan 30 78,912 77,172 75,819 4.08
Petroleum, related capacity, % ...................................................... Jan 29 82.3 81.7 87.4 –5.84
Rotary rigs running, U.S. & Can., (Hughes).................................... Feb 5 563 558 1,047 –46.23

Steel, (thous. tons)........................................................................ Jan 30 1,725 1,717 1,914 –9.87
Steel, rated capacity, % (AISI)........................................................ Jan 30 76.1 75.7 82.1 –7.31

ConsumptionandDistribution

Factory shipments, (bil. $) ............................................................. Dec 501.82 r493.45 504.17 –0.47
Instinet Research Redbook Avg. (monthly %)................................ Jan 30 –1.58 0.45 –0.49 ....
Baltic Dry Index ............................................................................. Feb 5 1,333 1,452 415 221.20

Inventories

Domestic crude oil, (thous. bbls) Comm. (Excl. Lease Stck) ........... Jan 29 475,659 476,653 435,009 9.34
Factory inventories, (bil. $) ............................................................ Dec 695.71 r693.63 703.94 –1.17
Gasoline, (thous. bbls) .................................................................. Jan 29 252,153 247,686 261,144 –3.44

Orders

Factory orders, backlog (bil. $) ...................................................... Dec 1,070.80 r1,073.80 1,156.92 –7.44
New factory orders, (bil. $) ............................................................ Dec 493.55 r488.31 500.20 –1.33
Nondurable goods orders, (bil. $) .................................................. Dec 247.14 r243.06 253.82 –2.63

Purchasing management index ..................................................... Jan 58.7 r60.5 50.9 15.32

Trade

Merchandise trade balance (bil $) .................................................. Dec –84.15 r–86.99 –69.98 20.25

Inflation

JOC–ECRI Industrial Price Index f.................................................. Feb 5 118.40 116.52 88.90 33.18

Employment

Civil labor force, (thous.) ............................................................... Jan 160,161 160,567 164,455 –2.61 Employed, (thous.) ....................................................................... Jan 150,031 149,830 158,659 –5.44 All non–farm payrolls, (thous.) ...................................................... Jan 142,631 r142,582 152,234 –6.31 Government payrolls, (thous.) ...................................................... Jan 21,508 r21,465 22,789 –5.62 Goods prod payrolls, (thous.) ....................................................... Jan 20,218 r20,222 21,096 –4.16 Initial jobless claims (thous.) ........................................................ Jan 30 779 r812 201 287.56 Continuing claims (mil.) ................................................................ Jan 23 4.592 r4.785 1.753 161.95 Service payrolls, (thous.) .............................................................. Jan 122,413 r122,360 131,138 –6.65 Unemployment rate, % ................................................................. Jan 6.3 6.7 3.5 80.00 Unemployed, (thous.) ................................................................... Jan 10,130 10,736 5,796 74.78 Avg. wks duration unemploy ......................................................... Jan 26.0 23.4 22.2 17.12 U–6 unemployment ...................................................................... Jan 11.1 11.7 6.9 60.87 Civilian Employment Population Ratio ........................................... Jan 57.5 57.4 61.1 –5.89

Construction

Construction spending, (bil. $) ...................................................... Dec 1,490.4 r1,475.6 1,410.3 5.68 Non–residential spending, SA (bil. $) ............................................ Dec 446.6 r454.4 495.3 –9.83 Public spending, (bil. $) ................................................................ Dec 352.8 r351.1 342.6 2.98 Residential spending, (bil. $) ......................................................... Dec 700.2 r679.1 579.9 20.74

OtherIndicators

Citi Research Panic–Euphoria Reading .......................................... Feb 5 1.59 r1.72 0.21 .... a-1997equals100.b-1982-84equals100.c-1982equals100.f-1996equals100.h-benchmarkrevision,2016equals100.r-Revised.

Market Laboratory

DOWJONESU.S.TOTALMARKETINDUSTRYGROUPS

NetChange %ChangeandRanking 52Week
Top20WeeklyRanked IG-Sym Close Wkly YTD Week Rank YrAgo Rank YTD Rank 3Yr High Low
Nonferrous Metals DJUSNF 424.45 + 64.48 76.38 +17.91 [1] +155.68 [3] +21.94 [1] +21.59 427.93 71.03
Gambling DJUSCA 901.45+ 134.80 87.75 +17.58 [2] –1.11 [99] +10.78 [14] –2.58 948.83 338.56
Aluminum DJUSAL 71.57 + 10.08 –7.17 +16.39 [3] +41.70 [17] –9.11 [138] –22.68 86.19 17.51
Media Agencies DJUSAV 844.17+ 106.24 125.03 +14.40 [4] +45.95 [12] +17.39 [4] +15.51 844.17 347.17
Industrial Metals & Mining DJUSIM 269.75 + 32.83 26.90 +13.86 [5] +54.63 [9] +11.08 [12] +3.94 280.58 88.40
Travel & Tourism DJUSTT 852.77 + 88.48 42.30 +11.58 [6] +22.58 [45] +5.22 [38] +8.46 861.62 390.41
Internet DJUSNS 3030.76+ 288.05 314.99 +10.50 [7] +48.51 [11] +11.60 [11] +23.22 3,030.76 1,473.18
Marine Transportation DJUSMT 184.08 + 17.46 13.95 +10.48 [8] –25.54 [129] +8.20 [20] –10.32 248.36 112.26
Hotels DJUSLG 2205.04+ 203.53 1.97 +10.17 [9] –3.76 [104] +.09 [101] +2.68 2,310.37 1,026.45
Financial Administration DJUSFA 866.26 + 79.54 32.18 +10.11 [10] +33.37 [26] +3.86 [53] +28.44 868.65 410.40
Recreational Svcs DJUSRQ 91.02 + 8.27 –1.41 +9.99 [11] –33.95 [138] –1.53 [120] –16.01 137.76 34.40
Oil Equipment & Svcs DJUSOI 159.99 + 14.37 12.08 +9.87 [12] –27.29 [132] +8.17 [21] –28.34 220.02 69.91
Brewers DJUSDB 857.95 + 73.32 83.34 +9.34 [13] +37.52 [25] +10.76 [15] +1.22 857.95 412.07
Full Line Insurance DJUSIF 40.84 + 3.40 2.86 +9.08 [14] –18.73 [118] +7.54 [24] –8.82 51.61 19.61
Airlines DJUSAR 192.16 + 15.75 8.17 +8.93 [15] –28.72 [135] +4.44 [46] –10.42 273.50 91.71
Exploration & Production DJUSOS 454.41 + 36.80 50.28 +8.81 [16] –19.82 [119] +12.44 [10] –12.97 563.50 214.60
Travel & Leisure DJUSCG 1358.82+ 109.19 33.70 +8.74 [17] +2.36 [92] +2.54 [71] +5.82 1,358.82 675.86
Oil & Gas Producers DJUSOG 394.90 + 31.40 47.10 +8.64 [18] –21.09 [122] +13.54 [9] –13.25 496.96 219.53
Footwear DJUSFT 2610.33+ 206.74 74.39 +8.60 [19] +40.90 [19] +2.93 [65] +28.91 2,647.04 1,139.98
Steel DJUSST 226.22 + 17.78 3.13 +8.53 [20] +2.60 [91] +1.40 [85] –6.27 247.76 121.97
NetChange %ChangeandRanking 52Week
Top20YrAgoRanked IG-Sym Close Wkly YTD Week Rank YrAgo Rank YTD Rank 3Yr High Low

Automobiles DJUSAU 1049.86 + 71.45 188.57 +7.30 [34] +290.42 [1] +21.89 [2] +71.70 1,077.96 134.39 Automobiles & Parts DJUSAP 1213.10 + 82.75 203.68 +7.32 [33] +217.14 [2] +20.18 [3] +50.34 1,239.34 195.90 Nonferrous Metals DJUSNF 424.45 + 64.48 76.38 +17.91 [1] +155.68 [3] +21.94 [1] +21.59 427.93 71.03 Computer Hardware DJUSCR 6829.10+ 257.03 226.49 +3.91 [90] +64.18 [4] +3.43 [58] +45.83 7,093.05 2,859.07 Broadline Retailers DJUSRB 3400.50+ 139.61 94.56 +4.28 [84] +57.41 [5] +2.86 [66] +30.18 3,520.79 1,791.13 Toys DJUSTY 1514.14 + 74.43 48.57 +5.17 [62] +57.18 [6] +3.31 [60] +12.78 1,514.14 765.22 Delivery Svcs DJUSAF 1382.15 + 85.34 –30.93 +6.58 [46] +56.53 [7] –2.19 [127] +8.70 1,498.78 666.48 Leisure Goods DJUSLE 1009.55 + 44.94 41.92 +4.66 [76] +55.13 [8] +4.33 [49] +14.18 1,009.55 491.25 Industrial Metals & Mining DJUSIM 269.75 + 32.83 26.90 +13.86 [5] +54.63 [9] +11.08 [12] +3.94 280.58 88.40 Technology Hardware & Equip DJUSTQ 3394.15+ 121.57 150.43 +3.71 [100] +50.06 [10] +4.64 [44] +33.55 3,488.20 1,580.41 Internet DJUSNS 3030.76+ 288.05 314.99 +10.50 [7] +48.51 [11] +11.60 [11] +23.22 3,030.76 1,473.18 Media Agencies DJUSAV 844.17+ 106.24 125.03 +14.40 [4] +45.95 [12] +17.39 [4] +15.51 844.17 347.17 Semiconductor DJUSSC 6600.68+ 196.25 351.84 +3.06 [112] +45.83 [13] +5.63 [36] +27.60 6,936.84 3,082.27 Recreational Products DJUSRP 570.75 + 9.30 55.84 +1.66 [125] +45.52 [14] +10.85 [13] +15.73 582.17 216.09 Commercial Vehicles DJUSHR 2988.29+ 154.86 261.21 +5.47 [59] +43.77 [15] +9.58 [17] +12.77 2,996.01 1,301.27 General Retailers DJUSGT 2353.39+ 102.76 82.52 +4.57 [80] +43.10 [16] +3.63 [55] +24.88 2,353.39 1,258.95 Aluminum DJUSAL 71.57 + 10.08 –7.17 +16.39 [3] +41.70 [17] –9.11 [138] –22.68 86.19 17.51 Medical Supplies DJUSMS 1381.78 + 92.62 123.59 +7.18 [35] +41.06 [18] +9.82 [16] +16.09 1,381.78 662.77 Footwear DJUSFT 2610.33+ 206.74 74.39 +8.60 [19] +40.90 [19] +2.93 [65] +28.91 2,647.04 1,139.98 Specialty Retailers DJUSRS 2550.78+ 115.54 118.27 +4.74 [74] +40.49 [20] +4.86 [41] +24.19 2,628.90 1,335.92

Groupsareweightedbycapitalization.52-weekhighsandlowsarebasedondailycloses.Dec.31,1991=100.IntheU.S.listings,%volchg
columnshowsthechangefromprevious65-daymovingaverage.Volumefiguresdonotreflectextendedtradinghours.

ComingEarnings

Day Consensus Year Estimate Ago

Continuedfrompage11ofthemainsection.

T

O-IGlass(Q4) 0.34 0.50

VoyaFinancial(Q4) 1.46 1.07

Yelp(Q4) 0.00 0.24

W

AnnalyCapital(Q4) 1.08 -1.11

BrighthouseFinancial(Q4) 2.68 2.61

CDW(Q4) 1.50 1.57

CME (Q4) 1.36 1.52

Coca-Cola(Q4) 0.42 0.44

Equinix(Q4) 5.63 5.51

GeneralMotors(Q4) 1.67 0.05

Int’lFlavors&Fragrances(Q4) 1.19 1.46

IQVIA (Q4) 2.00 1.74

MGMResorts(Q4) -0.95 0.08

Sonos(Q1) 0.85 0.60

SpiritAirlines(Q4) -1.44 1.24

Uber(Q4) -0.53 -0.64

UnderArmour(Q4) -0.07 0.10

Zillow(Q4) 0.28 -0.26

TH

Bio-RadLabs(Q4) 3.29 2.32

Chemours(Q4) 0.42 0.56

Datadog(Q4) 0.02 0.03

DaVita(Q4) 1.91 1.86

DukeEnergy(Q4) 1.03 0.91

Expedia(Q4) -1.95 1.24

Generac(Q4) 1.96 1.53

JFrog(Q4) 0.02 ....

LabCorp(Q4) 8.09 2.86

Pepsi(Q4) 1.45 1.45

WaltDisney(Q1) -0.33 1.53

Verisign(Q4) 1.45 1.31

Yeti(Q4) 0.62 0.48

ZebraTech(Q4) 3.80 3.56

F

Dominion(Q4) 0.80 1.18

Moody’s(Q4) 1.94 2.00

W.P.Carey(Q4) 1.12 1.34

(Earningsaredilutedandreportdatesaretentative. Allfore- castsandhistoricalnumbersexcludeextraordinaryitemsby accountingdefinitions.) Source:FactSet

NYSEHALF-HOURLYVOLUME

Daily 2/01 2/02 2/03 2/04 2/05

9:30-10:00 203,043 186,671 140,976 150,407 154,649

10:00-10:30 64,771 78,977 59,955 62,908 63,589 10:30-11:00 57,525 63,255 56,816 50,008 58,631 11:00-11:30 48,219 62,928 46,402 43,375 47,767 11:30-12:00 48,419 45,713 40,876 33,561 37,225 12:00-12:30 36,173 38,802 34,494 29,944 30,475 12:30-1:00 31,545 35,521 32,377 30,191 29,961 1:00-1:30 29,416 31,667 31,457 30,010 27,819 1:30-2:00 29,196 30,059 29,917 28,546 28,918 2:00-2:30 33,241 31,950 31,668 28,361 30,496 2:30-3:00 35,887 37,563 35,928 31,012 32,414 3:00-3:30 41,167 45,628 40,471 39,770 35,500 3:30-4:00 387,282 422,513 427,786 445,346 358,286

AMERICANDEBTANDDEFICITS

Latest Preceding YearAgoYearoverYear Report Report Report %Chg

FederalBudgetDeficit(bil.$)-a......................................... 920FY'22 966FY'21 1,083FY'20 ....

BudgetSurplus/Deficit(bil.$)-b,December.................... –143.56 –145.27 –13.29 980.21

TradeDeficit(bil.$,sa)-c,December................................. –66.61 r-69.01 –45.68 45.82

TreasuryGrossPublicDebt.(bil.$)-d............................... 27,851.1 27,768.5 23,246.5 19.81

TreasuryStatutoryDebtLimit(bil.$)-d............................. * 21,987.7 .... ....

ConsumerInstallmentDebt(bil.$)-e,December........... 4,184.2 r4,174.5 4,190.7 -0.16

Sources:a-OfficeofManagementandBudget,b-MonthlyTreasuryStatement,c-MonthlyCommerceDept.Report,d-DailyTreasury
Statement,e-MonthlyFederalReserveRelease.*StatutorydebtlimittemporarilysuspendedthroughJuly31,2021.