First Citizens Bancshares (FCNCA) – The subject of probably the biggest news item from over the weekend: First Citizens will purchase substantially all of the loans and other assets of Silicon Valley Bank. Specific terms of the deal by First Citizens were not disclosed. Shares of First Citizens were up nearly 30% on the news.
Palantir Technologies (PLTR) – Analysts at William Blair made a bearish call on Palantir Monday morning. The firm noted two news items last week which showed evidence of the US Air Force’s Space Systems Command unit splitting its contract exposure among more contractors than just Palantir. “…there is risk that Palantir’s premium 8.5-times sales multiple will compress as competition pressures revenue growth and profitability,” according to one William Blair analyst.
Activision Blizzard (ATVI) – Initial reviews following the two-weekend beta period for Blizzard’s new game, Diablo 4, have been largely positive. Given the favorable reviews, analysts at Oppenheimer said “We see upside to our current estimates from Blizzard’s potential to bring players new to Diablo franchise to D4.”
Seagate Technology (STX) – A play on weaker pricing within the memory chip space. Seagate and Western Digital (WDC) peer, Micron Technology (MU) will be the first memory company to report this week, on Tuesday. Analysts at Raymond James Monday morning cut estimates on Micron sales and gross margins amid the weaker pricing concerns.
Blade Air Mobility (BLDE) – A play on the air mobility space. Jefferies will host its electric vehicle take-off landing conference this week; Blade Air Mobility will be presenting from the event on Tuesday at 11 a.m. EDT. Company execs could give guidance or updates on the company’s business.