Kim Bolton s Top Picks: May 6, 2021
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FOCUS: Technology stocks
MARKET OUTLOOK:
Global equity markets moved steadily higher in April, as investors were encouraged by rising consumer spending, rising earnings, and contained inflation, which all pointed to an accelerating global economy. More recently, growth technology stocks finally started to participate with the cyclical names. Market participantsâ focus will remain short-sighted on the earnings season for the next couple of weeks, but come the middle of May and into June the focus will revert to macro-economic and political events.
We believe economic and corporate fundamentals will continue to improve beyond the coming quarter and year, but the rate of change will slow. The upcoming transition from recovery to expansion implies that we remain in the favourable part of the business and market cycles. However, equity returns are likely to moderate, and pullbacks are likely to become more
Eyeing an IPO, RPA provider Automation Anywhere appoints two new top execs
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Robotic process automation provider Automation Anywhere Inc. today announced that it has appointed two industry veterans to top jobs in an apparent move toward an initial public offering of stock.
The company’s appointment of two senior executives with extensive experience running public companies comes just a few weeks after its top competitor in the RPA market, UiPath Inc., went public in a blockbuster $1.4 billion IPO.
James Budge is the company’s new chief financial officer and Mike Micucci is new chief operating officer. Budge is a longtime finance executive who prepared three companies for their initial public offerings. Micucci previously led Salesforce.com Inc.’s Commerce Cloud and Community Cloud businesses.
Weekly Summary Corporate dividends, name changes, new listings
April 9, 2021
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INCREASED DIVIDENDS
Glacier Bancorp .31 from .30
HarborOne Bancorp .05 from .03
Lindsay .33 from .32
STOCK SPLITS THIS WEEK
ACQUISITIONS AND MERGERS
SMTC Corp - H.I.G. Capital (43B)
NEW STOCK LISTINGS
Reneo Pharmaceuticals Inc
B. Riley Financial Inc 7.5pc Senior notes due
CORPORATE NAME CHANGES
Entercom Communications Corp to Aucdacy Inc
Nesco Holdings Inc to Custom Truck One Source Inc
Replay Acquisition Corp to Finance of Americas Cos Top Picks In Shopping