Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

3 Stocks To Watch In The Coming Week: Salesforce.com, Adobe, Broadcom 

By Investing.com (Haris Anwar/Investing.com)Stock MarketsDec 06, 2020 08:47AM ET
www.investing.com/analysis/3-stocks-to-watch-in-the-coming-week-salesforcecom-adobe-broadcom-200546953
3 Stocks To Watch In The Coming Week: Salesforce.com, Adobe, Broadcom 
By Investing.com (Haris Anwar/Investing.com)   |  Dec 06, 2020 08:47AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

Equity market investors continued to show optimism on the post-pandemic economic recovery this past week, by primarily buying cyclical shares that they believe will benefit the most when the virus is behind us.

The Dow Jones Industrial Average and S&P 500 rose to record highs on Friday, helping the major averages to post their fourth weekly gain in five weeks. Energy was the best-performing S&P 500 sector, gaining 5.4% on Friday.

Amid this optimism, investors are also hoping that politicians will reach some sort of agreement in Washington on new stimulus measures, especially when COVID infections in the US are rising at a record pace, forcing states to initiate new lockdown measures. With this macro picture in mind, here are three stocks we’re monitoring in the coming week.

1. Salesforce.com

Salesforce.com (NYSE:CRM) will host its Investor Day on Tuesday, Dec. 8. The event comes after the cloud-based, customer relationship management software company announced its acquisition of Slack Technologies (NYSE:WORK) last week, a transaction for which investors have expressed a lot of reservations.

CRM Weekly TTM
CRM Weekly TTM

Shares of Salesfore.com have lost more than 8% during the past week on concerns that the San Francisco-based company's most expensive deal to date won’t bring the kind of synergies and competitive advantage that founder and CEO Marc Benioff is trying to achieve. The stock closed on Friday at $225.86, after gaining more than 2% on the day.

The cash-and-stock deal, which is expected to close by July, will bring a workplace-communications application that’s grown more popular during the coronavirus pandemic to Salesforce’s rapidly expanding platform.

But investors aren’t convinced as to how the company will compete with Microsoft (NASDAQ:MSFT) which has a more popular competitive product, Teams. Next week’s interaction between CRM management and investors might alleviate some of these concerns.

2. Adobe Systems

Another stock that will come under investor scrutiny this coming week is Adobe Systems (NASDAQ:ADBE). The software manufacturer, whose product lineup includes Photoshop, will release its fiscal 2020, fourth quarter earnings on Wednesday, Dec. 9, after the close. Wall Street expects $2.66 EPS and $3.36 billion of revenue.

ADBE Weekly TTM
ADBE Weekly TTM

Adobe’s earnings this year showed that the software maker’s cloud-based creative tools are in great demand during the coronavirus pandemic. Sales jumped 14% in the quarter ended Aug. 28, as Chief Executive Officer Shantanu Narayen’s efforts to invest heavily in designing new tools for creative professionals and hobbyists paid off. The company continues strengthening its marketing efforts in order to keep demand for its products high during the pandemic.

The San Jose, California-based Adobe’s shares have gained 46% this year, closing at $486 on Friday.

3. Broadcom

Broadcom (NASDAQ:AVGO) will report its fiscal Q4 2020 earnings after the market closes on Thursday, Dec. 10. Analysts are expecting $6.24 a share profit on projected sales of $6.43 billion.

The chipmaker has branched out into enterprise software. It gave a strong forecast for the last quarter helped by spending on data centers and a predicted rebound in shipments of smartphone components. Revenue in the three months ending Nov. 1 will be $6.4 billion, plus or minus $150 million, the San Jose, California-based company said in September.

AVGO Weekly TTM
AVGO Weekly TTM

Broadcom shares have rebounded strongly after the March dip, surging more than 140%. The stock closed at $411.68 on Friday, after rising almost 3% for the day.

Broadcom has a wide variety of products, including components for servers, smartphones, cars and software that runs the biggest mainframe computers. Because of its product diversity, the San Jose, California-based company’s earnings can provide a broader understanding of chip demand across numerous segments during the pandemic and related lockdowns.

3 Stocks To Watch In The Coming Week: Salesforce.com, Adobe, Broadcom 
 

Related Articles

3 Stocks To Watch In The Coming Week: Salesforce.com, Adobe, Broadcom 

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (2)
Gershom Zvi
Gershom Zvi Dec 07, 2020 2:22AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Watch ipo airbnb 12/10/2020
Premier Investments
Premier Investments Dec 06, 2020 9:38PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Nice article, thx Haris 👍
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email