More than one in four of the nearly 600 companies that went public via a traditional IPO in 2020 or 2021-including oat-milk maker Oatly Group AB and online lender loanDepot Inc.-traded at less than $2 a share as of Friday's market close, according to Dealogic data. Many companies that went public in the surge of mergers involving SPACs, or special-purpose acquisition companies, also are faring poorly.
Individual Investors Hang On in Wild Year for Stocks While Pros Sell
During the wildest year for global markets since 2008, individual investors have been doubling down on stocks. Many professionals, on the other hand, appear to have bailed out.
U.S. equity mutual and exchange-traded funds, which are popular among individual investors, have attracted more than $100 billion in net inflows this year, one of the highest amounts on record in EPFR data going back to 2000.
Stock Prices in Tenths of a Penny Might Be Coming to a Trading Screen Near You
Get ready to see more numbers when you check your stock portfolio.
Regulators unveiled a proposal last week that would cause some stocks to be quoted in price increments of as little as one-tenth of a penny. So, for example, if Uber Technologies Inc. shares are now trading at $26.20, the proposal opens the door to prices such as $26.204.
Economy Week Ahead: U.S. Housing, Spending in Focus
The National Association of Home Builders releases its index that tracks the sentiment of single-family home builders. The NAHB/Wells Fargo Housing Market Index has declined every month this year. It had a preliminary reading in November of 39, down from 45 in October and 54 in September.
Individual Investors Hang On in Wild Year for Stocks While Pros Sell
During the wildest year for global markets since 2008, individual investors have been doubling down on stocks. Many professionals, on the other hand, appear to have bailed out.
U.S. equity mutual and exchange-traded funds, which are popular among individual investors, have attracted more than $100 billion in net inflows this year, one of the highest amounts on record in EPFR data going back to 2000.
Jan. 6 Panel to Vote on Criminal Referrals, Release Summary of Report
WASHINGTON-The House committee investigating the Jan. 6, 2021, attack on the Capitol is expected to release a summary of its report Monday and vote on potential criminal referrals to the Justice Department for former President Donald Trump and some of his allies.
A committee aide said the panel is expected to release certain materials, including an executive summary of the report, details on referrals and information about witnesses who have appeared before the select committee.
Qatar Warns Brussels Bribery Allegations Could Hurt Energy Talks With Europe
Qatar warned Sunday that an investigation by authorities in Brussels into its role in an alleged influence and bribery scheme could adversely affect energy talks with Europe and condemned a decision by the European Parliament to suspend dealings with the Persian Gulf kingdom.
The European Parliament's move "will negatively effect regional and global security cooperation, as well as ongoing discussions around global energy poverty and security," a statement by a Qatari diplomat to the European Union said Sunday, noting that Qatar is an important supplier of liquefied natural gas to Belgium.
Tunisian Opposition Calls for President to Step Down After Low Voter Turnout
The leader of Tunisia's opposition alliance called for President Kais Saied to step down on Sunday after only a fraction of eligible voters turned out for parliamentary elections.
More than 160 seats were up for vote. Yet once polls closed on Saturday night, only 8.8% of eligible voters, or roughly 803,000 people, had participated, according to the government. Tunisia has a population of roughly 12 million people, with about 9 million eligible voters.
Battle for Bakhmut Is Critical Test of Russia's Prospects in Ukraine
BAKHMUT, Ukraine-Russian shells slammed closer and closer as Ludmyla Bondarenko and Zoya Shilkova, clad in fur coats atop layers of clothing, sat on a bench outside their apartment block, chatting and getting some fresh air on a frigid afternoon in what remains of this eastern Ukrainian city.
At an intersection nearby, Ukrainian troops used a crane to emplace concrete slabs, fortifying the neighborhood. Three freshly arrived tanks roared by, blue-and-yellow flags fluttering from their turrets. A distant staccato of machine-gun fire could be heard amid the thumps of artillery.
Write to ina.kreutz@wsj.com TODAY IN CANADA
Earnings:
Nothing major scheduled
Economic Indicators (ET):
0830 Nov Industrial Product & Raw Materials Price Indexes
Stocks to Watch:
Hempshire CEO Martin Marion to Resign and Will be Succeeded by Alex Shegelman
Expected Major Events for Monday
09:00/GER: Dec Ifo Business Climate Index
11:00/UK: Dec CBI Industrial Trends Survey
13:30/CAN: Nov Industrial product & raw materials price indexes
15:00/US: Dec NAHB Housing Market Index
All times in GMT. Powered by Onclusive and Dow Jones.
Expected Earnings for Monday
ARK Restaurants Corp (ARKR) is expected to report for 4Q.
Heico Corp - A Share (HEI,HEIA) is expected to report $0.69 for 4Q.
Inspirato Inc (ISPO) is expected to report for 3Q.
Steelcase Inc (SCS) is expected to report $0.12 for 3Q.
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ANALYST RATINGS ACTIONS
Acuity Brands Cut to Neutral From Outperform by Baird
Agiliti Cut to Neutral From Buy by B of A Securities
Agilysys Raised to Buy From Neutral by BTIG
American Homes 4 Rent Cut to Neutral From Overweight by JP Morgan
Anywhere Real Estate Cut to Neutral From Overweight by JP Morgan
Aris Water Solutions Cut to Equal-Weight From Overweight by Wells Fargo
AvalonBay Cut to Underweight From Neutral by JP Morgan
Axcella Health Cut to Market Perform From Outperform by SVB Leerink
Brixmor Property Group Raised to Outperform From Peer Perform by Wolfe Research
Cadence Design Systems Raised to Buy From Neutral by B of A Securities
Crestwood Equity Partners Raised to Overweight From Equal-Weight by Wells Fargo
DT Midstream Cut to Equal-Weight From Overweight by Wells Fargo
Easterly Govt Properties Cut to Underperform From Market Perform by BMO Capital
EPR Properties Raised to Neutral From Underweight by JP Morgan
Equitrans Midstream Cut to Equal-Weight From Overweight by Wells Fargo
Equity Residential Cut to Underperform From Market Perform by BMO Capital
Essex Property Cut to Neutral From Overweight by JP Morgan
Extra Space Storage Cut to Neutral From Overweight by JP Morgan
Federal Realty Cut to Neutral From Overweight by JP Morgan
First Industrial Raised to Overweight From Neutral by JP Morgan
Invitation Homes Cut to Neutral From Overweight by JP Morgan
Lennox Raised to Neutral From Underperform by Mizuho
Lincoln National Cut to Underperform From Hold by Jefferies
LTC Properties Cut to Underperform From Market Perform by BMO Capital
Magellan Midstream Cut to Equal-Weight From Overweight by Wells Fargo
Maxar Technologies Cut to Hold From Buy by Canaccord Genuity
Maxar Technologies Cut to Hold From Buy by Canaccord Genuity
Maxar Technologies Cut to Hold From Buy by Canaccord Genuity
Maxar Technologies Cut to Hold From Buy by Truist Securities
Mercury Systems Cut to Sector Perform From Outperform by RBC Capital
Meta Platforms Raised to Overweight From Neutral by JP Morgan
New York Times Cut to Equal-Weight From Overweight by Morgan Stanley
ONE Gas Cut to Neutral From Buy by B of A Securities
Oneok Raised to Overweight From Equal-Weight by Wells Fargo
Prologis Cut to Neutral From Overweight by JP Morgan
Prudential Financial Cut to Underweight From Equal-Weight by Wells Fargo
Regency Centers Raised to Overweight From Neutral by JP Morgan
Ryan Specialty Group Raised to Overweight From Equal-Weight by Wells Fargo
Sarepta Therapeutics Raised to Buy From Neutral by UBS
Sunoco Raised to Equal-Weight From Underweight by Wells Fargo
Synopsys Raised to Buy From Neutral by B of A Securities
Third Harmonic Bio Cut to Equal-Weight From Overweight by Morgan Stanley
Third Harmonic Bio Cut to Hold From Buy by Jefferies
United Rentals Raised to Positive From Mixed by OTR Global
Universal Health Raised to Neutral From Underperform by B of A Securities
Williams Cos Cut to Equal-Weight From Overweight by Wells Fargo
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
12-19-22 0631ET
