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Twitter will be the talk of Wall Street this coming week as the social media company’s debut as a publicly traded company garners the most attention – and money – since Facebook’s 2012 initial public offering.
“It’s not just about the stock. Twitter’s IPO will be a measure of how much liquidity is out there,” John Rutledge, chief investment strategist at SAFANAD, a private investment firm in New Canaan, Connecticut, told Reuters.
Twitter has said it will sell 70 million shares at a price between US$17 and US$20, valuing the online messaging company at as much as US$11 billion. The company is expected to officially price its IPO on Wednesday evening and begin trading the following day on the New York Stock Exchange under the symbol TWTR.
Related: Twitter IPO already oversubscribed? – Bloomberg
Stock pickers market?
Manoj Ladwa, Head of Trading at TJM Partnership, previews earnings, overall economic outlook and discusses his subsequent investing strategy. Watch the Bloomberg segment below.
Here’s what to watch for this week:
Economic reports including Friday’s Canadian and U.S. employment figures will also garner attention, as well additional earnings reports as more companies reveal their third-quarter results. Some Canadian firms reporting quarterly results include: Canaccord Genuity, MacDonald Dettwiler, Enbridge, Iamgold Corporation, Indigo Books & Music, Transcanada Corp., Westjet Airlines, Magna International, Sun Life Financial, BCE Inc., Canadian Tire, Ci Financial, Gluskin Sheff, Great West Lifeco, Quebecor, Tim Hortons, TMX Group, Air Canada, Telus, and more.
In the U.S., Kellog, Deutsche Telekom, HTC Corp., Tesla Motors, Time Warner, Duke Energy, CBS Corp., Whole Foods Market, Wendy’s and Walt Disney will be among those revealing their quarterly numbers.
Related: Jobs crisis in Canada? What jobs crisis? – Financial Post
Beyond all that, it’ll be a whipsaw game of who’s saying what about which economy, as Bank of Canada and other government officials on this side of the border and various U.S. Federal Reserve governors including Fed Chairman Ben Bernanke speak at different engagements throughout the week, including the third annual IMF research conference in Washington at the end of the week.
Monday: In Canada, Deputy Bank of Canada Governor Lawrence Schembri will speak in Toronto. In the U.S., figures September factory orders will be released at 10 am ET. Federal Reserve Governors Jerome Powell and Federal Reserve Bank of Boston Governor Eric Rosengren will deliver separate speeches at 11:40 am ET and 4 pm ET respectively.
Tuesday: Bank of Canada Deputy Governor John Murray will participate in a panel discussion at the Third Biennial Asia Economic Policy Conference hosted by the Federal Reserve Bank of San Francisco. In the U.S., Fed Bank of Richmond Governor Jeffery Lacker and Fed Reserve Bank of San Francisco Governor John Williams will also speak. On the data front, figures on ICSC same-store sales for the week ended November 2 will be released at 7:45 am ET, followed by Redbook same-store sales at 8:55 am ET and October’s non-manufacturing ISM report at 10 am ET.
Wednesday: In Canada, September building permits figures will be released at 8:30 am ET, followed by the Ivey Purchasing Managers’ Index for October at 10 am ET. Finance Minister Jim Flaherty will deliver keynote remarks at the 10th annual Ontario Economic Summit at 7:30 pm ET. In the U.S., MBA mortgage applications for the week ended November 1 will be released at 7 am ET, followed by the October Challenger layoffs report at 7:30 am ET and September leading indicators at 10 am ET. Federal Reserve Bank of Cleveland Governor Sandra Pianalto will speak just after 1 pm ET.
Thursday: In Canada, no economic reports on the docket, but the province of Ontario’s fiscal update and economic statement will be released. In the U.S., initial jobless claims for the week ended Oct. 26 and third-quarter real GDP figures will be released at 8:30 am ET and comments from Federal Reserve Governor Jeremy Stein will be the focus for investors.
Friday: Jobs day on both sides of the border, with figures on September employment being released at 8:30 am ET. To wrap up the week, Fed Chairman Ben Bernanke will speak on a panel, “Policy Responses to Crises” at the IMF’s third annual research conference in Washington, while Federal Reserve Bank of Atlanta Governor Dennis Lockhart and, for a second time. Federal Reserve Bank of San Francisco Governor John Williams, will also deliver remarks.
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