Currency & Markets Week to come Week of July 19, 2021: Profits season is in full swing. I’m breaking the expectations of telecom giants AT&T Inc. (NYSE: T)..
It also provides information on insurance IPOs that will be scrapped this week.
We will also examine the evolution of sales of existing homes in June.
Here are some things to watch out for over the next week on Wall Street:
Preview of the IPO
There are some Initial public offering This week’s schedule (IPO).
Ryan Specialty Group We plan to price the IPO on Thursday. Listed on the New York Stock Exchange under the symbol RYAN.
What is that: Ryan Specialty was founded in 2010 and is based in Chicago.
The company offers professional insurance to agents, brokers and carriers.
This helps retail insurance brokers take on complex risks. Ryan Specialty also works with retail and wholesale insurance brokers to take hard-to-place risks and provide services.
This is a complex statement that the company supports insurance brokers and insurers with high risk non-life and professional insurance.
According to that S-1 deposit Ryan Specialty works with the Securities and Exchange Commission with over 200 insurers and over 15,500 retail insurance brokers around the world.
In 2020, Ryan Specialty reported total revenue of $ 1 billion compared to $ 765 million reported in 2019.
In the three months ended March 31, 2021, the company reported total revenue of $ 311.5 million, compared to the $ 208.2 million reported in the same three months of 2020. It s This is a 49.6% increase in turnover.
The company increased its year-over-year operating loss from $ 63.1 million in 2019 to $ 70.5 million in 2020.
Offer: The company plans to sell 56.9 million shares in the price range of $ 22 to $ 25 per share.
Its goal is to raise around $ 1.3 billion in this offering.
through Renaissance CapitalAt a midpoint of $ 23.50 per share, Ryan Specialty sees a market value of $ 6 billion.
JP Morgan, Barclays, Wells Fargo Securities, Goldman Sachs, UBS Investment Bank, William Blair, RBC Capital Markets, BMO Capital Markets and Keefe Bruyette Woods are all primary managers of this transaction.
Details: AT&T Revenue
The next quarter of the earnings report began at the end of last week and will be in full swing this week.
Some celebrities will report back in the coming days.
Telecommunications giant AT&T Inc. (NYSE: T), I will report the winnings on Thursday.
In most cases, AT&T has been in close agreement with revenue since 2017.
However, during the COVID-19 pandemic, the company saw its quarterly earnings per share drop to a level not seen since 2017.
These revenues returned to more familiar territories.
In the first quarter of 2021, AT&T reported earnings of $ 0.86 per share. This is up from the $ 0.75 per share reported in the fourth quarter of 2020.
AT&T Revenue: Revenue Forecast
The company’s results speak for themselves.
AT&T reported lower than expected quarterly profits for the fourth consecutive quarter from October 2019 to July 2020.
It reversed this trend in the third quarter of 2020, beating Wall Street forecasts for the past three quarters.
AT&T has met or exceeded Wall Street’s EPS forecast in 12 of the past 16 quarters. Analysts expect to make $ 0.79 a share for $ 42.6 billion in revenue in the second quarter.
thin: AT&T is in a very competitive telecommunications market.
To compete, the company recently announced that it will update its elite unlimited cellular service to include 4K movie streaming. Elite customers also pay to avoid limited data speeds after a certain number of uses.
The company is also fighting 5G deployments in several ways.
Nonetheless, AT&T will once again beat Wall Street expectations and post earnings of nearly $ 0.80 per share.
Currency & Markets Week to come: data dump
National Association of Real Estate Agents Monthly used home sales data Thursday June.
The report measures the annual change in the number of existing homes sold in the United States over the past month.
Existing home sales ended at a high level in 2020, reaching 6.9 million in October.
However, since the start of 2021, home sales have been reduced to pre-pandemic levels as a shortage of homes for sale weighed on the market.
From May 2021 to June 2021, sales of existing homes fell 0.9%.
June sales are expected to return to 5.9 million units.
At the end Currency & Markets Week to comeLet’s take a look at some keys here Returned This week’s report:
International Business Machines Corp. (NYSE: IBM)
Prologis Inc. (NYSE: PLD)
JB Hunt Transportation Services Inc. (Nasdaq: JBHT)
Netflix Inc. (Nasdaq: NFLX)
Philip Morris International Inc. (NYSE: afternoon)
UBS Group AG (NYSE: UBS)
Johnson & Johnson (NYSE: JNJ)
Verizon Communications Inc. (NYSE: VZ)
Texas Instruments Inc. (Nasdaq: TXN)
Crown Castle International Corporation (NYSE: CCI)
Microsoft Corp. (Nasdaq: MSFT)
Intel Corp. (Nasdaq: INTC)
AT&T Inc. (NYSE: T)
Snap Inc. (NYSE: break)
American Express Co. (NYSE: AXP)
Kimberly-Clark (NYSE: KMB)
It’s all for this week.
Till next time
Matt Clark, CMSA
Investigation analyst, Money Market
Matt Clark is a research analyst Money Market.. He is a Certified Capital Markets and Securities Analyst at the Corporate Finance Institute and In search of the alpha..Before joining Money Market, He has been a journalist and editor for 25 years, responsible for college sports, business and politics.
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