ECONOMIC SILUET: Watch Whirlpool, these outperforming financial names and this beauty stock in tomorrow’s trading

Senin, 30 Januari 2023

Watch Whirlpool, these outperforming financial names and this beauty stock in tomorrow’s trading

MON, JAN 30, 2023

The goal of this newsletter is to get you ahead of the next day of investing and trading. It's your first look at tomorrow and last look at today powered by the team of people who direct CNBC TV's stock market coverage.

Tomorrow's Top CNBC Stories Tonight

Whirlpool rises in after-hours trading

Whirlpool reported mixed results for its latest quarter. However, the stock is slightly higher after hours as the company's earnings per share and revenue outlook for its new fiscal year came in ahead of expectations. CNBC Earnings Editor Robert Hum highlighted some upbeat executive commentary, including hopes for easing raw material costs and "expected demand recovery during the second half of the year." While the stock is still over 25% off its recent high, Whirlpool is tracking for its best month since last July.

Outperformers in the financials sector

Franklin Resources has been on a tear of late, up 32% in three months. That's the second-biggest gain in the financials sector during that interval, behind MarketAxess, which has risen over 50% in three months. Both are up double-digits since the start of the year, outpacing the sector and the broader S&P 500.

Ulta hits a new high

Ulta is trading at its highest levels since going public in 2007 and is enjoying its longest monthly winning streak since 2019, up for four-straight months. Still, the stock is trading at a slight discount to its average price target and 59% of the analysts tracked by FactSet rate it a buy. While Ulta sits at an all-time high, nearly 80% of the SPDR S&P Retail ETF (XRT)'s 95 constituents are 10% or more off their recent highs. Ulta isn't set to report earnings until later in the season.

Auto parts stocks rally Monday

Elsewhere in retail, auto parts names were among today's top outperformers in the S&P 500, though they've lagged the broader market to start out the year. AutoZone and O'Reilly gained over 2% on Monday and sit less than 10% away from fresh all-time highs. However, they're still on pace for monthly declines. Despite gaining today, Advance Auto Parts is still the underperformer in this group. It's down 21% in three months and over 35% away from its 52-week high. Most analysts rate it as a hold, while the two others have mostly buy ratings.

Cybersecurity missed tech's wild ride

Despite today's losses, tech is still marginally higher over the last few months, with the Technology Select Sector SPDR ETF (XLK) up roughly 3.5% since the end of October. Leaders have names ranging from chipmakers like Nvidia and Skyworks, to solar stocks like SolarEdge and First Solar. But cybersecurity has largely lagged, with many of the ETFs that track those names remaining in negative territory. The Global X Cybersecurity ETF (BUG) is among the biggest laggards, dragged lower by constituents like CrowdStrike, SentinelOne and Zscaler. CRWD, for one, is off by 38% in three months and on pace for its sixth-straight monthly decline. That would be its longest monthly losing streak since going public in 2019.