Markets
Nikkei 225
35,901.79
▲ +324.68 / +0.91%
SSE Composite
2,886.29
▲ +4.31 / +0.15%
IBOVESPA
131,213.70
▲ +226.03 / +0.17%
Straits Times
3,199.42
▲ +7.70 / +0.24%
BMV IPC
55,571.06
▼ -36.01 / -0.06%
Dow Jones
37,592.98
▼ -118.04 / -0.31%
DAX 30
16,622.22
▼ -82.34 / -0.49%
BSE SENSEX
73,327.94
▲ +759.48 / +1.05%
FTSE 100
7,594.91
▼ -30.02 / -0.39%
JSE Top 40
67,253.56
▼ -590.95 / -0.87%
Last Week’s Highlights
Peloton up thanks to its partnership with TikTok
Peloton shares experienced a strong rebound after announcing an exclusive partnership with TikTok. The collaboration will result in the creation of TikTokFitness, a fitness hub with customized content from Peloton. This strategic move seeks to leverage TikTok’s one billion active users to expand Peloton’s reach. Although some analysts have adjusted the price target to $10, they maintain a “hold” valuation. Despite a 34% drop over the past year, the consensus suggests a 32.1% upside potential for the company’s stock, with an average price target of $7.57. The future of Peloton’s stock remains in focus amid these key changes to its strategy.
Ford reported sales growth for 2023
In the fourth quarter and for the full year 2023, Ford announced impressive U.S. auto sales results, with 1,995,912 vehicles sold, representing a 7.1% increase over the prior year, despite the six-week United Auto Workers strike. The annual performance was highlighted by a 13% growth in truck and van sales, and an 18% increase in electric vehicle sales, consolidating its position as the second-largest seller of EVs in the country. However, some lines, such as Bronco SUV, Expedition SUV, and Transit Connect Van, experienced declines in the last quarter due to production problems resulting from strikes. Although Ford lagged behind General Motors in growth, the recent increase in the price of the popular F-150 Lightning will help boost sales. Wall Street analysts project a 12.6% upside in Ford shares, with an average price target of $13.15 over the next 12 months, supported by a moderate buy consensus valuation and a 5.4% growth track record over the past year.
Coming Up This Week
Nintendo to release Switch 2 sooner
Nintendo, known for its unique approach to the console market, may surprise its fans with an early release of the much-rumored Switch 2. Although the company has charted its path in the console wars, recent reports suggest that the new version of its blockbuster console could hit the market sooner than expected, potentially as early as this year. The original Switch has been a hybrid success between console and mobile platforms, boosting Nintendo’s stock by more than 200% since its launch. However, in the face of slowing sales and an aging platform, Nintendo is looking to revitalize its market presence with the potential arrival of the Switch 2, which is estimated to be priced at around $400. While details on hardware and games are still speculative, analysts suggest Nintendo’s strategy could maintain its momentum, backed by a moderate consensus buy rating from Wall Street.
Bitcoin volatility expected to rise
Bitcoin (BTC-USD) has suffered a correction below $44,000, after hitting a two-year high in early 2024, due to Matrixport’s suggestions of possible delays in cryptocurrency ETFs. Volatility is expected to increase ahead of the SEC verdict between Jan. 8 and Jan. 10. Ethereum (ETH-USD), Solana (SOL-USD), and Ripple (XRP-USD) are also showing weakness with significant declines. The revelation that Hyperverse’s CEO may not exist highlights the need for more verification in the crypto space. Meanwhile, Michael Saylor plans to sell MicroStrategy shares for $216 million to buy more Bitcoin, while the BTC rally could pause in the coming sessions.
