ECONOMIC SILUET: Watch these crypto-linked stocks, Apple and this heavily shorted name in tomorrow’s trading

Kamis, 02 Februari 2023

Watch these crypto-linked stocks, Apple and this heavily shorted name in tomorrow’s trading

THU, FEB 02, 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

Media stocks soar to begin 2023

Media stocks are on a tear to start the year, made better by big rallies in Thursday's session. Warner Bros. Discovery leads the communication services sector, up nearly 70% so far on 2023. Paramount Global is up 50%. Charter Communications and News Corp. are up 22% and 18%, respectively. Even giants like Walt Disney and Netflix are up 30% and 24%. However, most of these names are still 20% or more off their recent highs, so they've got a long way to go to reach new records.

Hanesbrands, Canada Goose tumble after earnings

Apparel players Hanesbrands and Canada Goose were pummeled post-earnings. Hanesbrands cut its dividend to bolster its balance sheet, and it also issued downbeat guidance. That stock posted its worst day since it was spun off from Sara Lee in 2006. Elsewhere, Canada Goose saw its worst session since May 2019 after it posted weak earnings and slashed its outlook.

Ethan Kraft | CNBC Breaking News and Markets Producer
@ethan_kraft

Apple and its suppliers in after-hours trading

You know about Apple by now. The stock slipped more than 3% in after-hours trading. The action comes after Apple posted quarterly numbers.
Several suppliers are also making news this evening including Cirrus Logic, which fell as much as 7%. It beat profit estimates but quarterly profit fell. The stock is up 27% in 2023.
AMD is down about 2% after hours. The stock is up 36% in 2023.
Qualcomm is down 3%. Revenue fell mostly on phone issues. The stock is up 23.5% in 2023.

Mortgage rates slip below 6%

The iShares U.S. Home Construction ETF (ITB) was up more than 3% today. It is up 20% in 2023.
The S&P Homebuilding sub-industry hit a new high today. It's up 19.3% in 2023.
Within the ITB ETF, the leaders included LGI Homes, which was up 6.6% today. It's up 35% in 2023.
Meritage Homes was up 6.5% today, and the stock is up 26.5% in 2023. The CEO was on CNBC this afternoon saying there were a lot of cancellations in Q4 because of higher rates, but he's starting to see an uptick.
Watsco supplies heating and air conditioning units, equipment and parts. The stock was up 5.4% today. It's up 27% in 2023.
On the other side of the equation, Century Communities was the only stock in the ITB ETF that was down today, falling 2.4%. Shares are up 23% in 2023. The company reported Wednesday and beat analyst estimates. However, investors weren't too crazy about the outlook, despite optimism from the CEO.

Crypto names hit a hot streak alongside bitcoin

Bitcoin was back above $24,000 today, but it's now at $23,500.
Silvergate Capital has had an interesting day. The stock was up 30% during the day. After hours, however, there was a news report indicating that the Department of Justice is looking into the company's relationships with FTX and Alameda Research. The stock is down about 20% after hours.
Coinbase was up 24% as bitcoin jumped. This stock is now up 130% in 2023. That's a lot.
Cleanspark was up 12% today. It's up 78% in 2023.
Riot was up 9% today. It's 120% in 2023.
MicroStrategy was up 9% today. Shares are up 106% in 2023.

A couple of thematic ETFs touch a fresh high

The SPDR S&P 500 Value ETF (SPYV) hit a new high today. It's up 10% in 2023.
The iShares S&P 500 Value ETF (IVE) hit a new high. It's up 10% in 2023.
The S&P Small Cap 600 Value index (CVK) is up 16% in 2023, and it's at a new high.
The S&P Mid Cap 400 Value index (MUV) is up 15% in 2023.

Heavily shorted Carvana pops higher

Carvana options volume was four times the ten-day average today.
The stock was up another 5% today. It's up 200% in a month, but down 91% in a year.
It's one of the most heavily shorted stocks in the market. Short interest continues to rise, and it's now at about 51%.
"Fast Money" did a good bit on this one tonight.