ECONOMIC SILUET: Watch these retail names, Albemarle and this homebuilding play in tomorrow’s trading

Kamis, 16 Februari 2023

Watch these retail names, Albemarle and this homebuilding play in tomorrow’s trading

THU, FEB 16, 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

Albemarle pops on earnings beat

Albemarle jumped nearly 5% Thursday, following an earnings beat fueled by strong demand. That demand has remained robust even as the company has hiked prices in response to the soaring cost of lithium. Albemarle, Lithium Americas and Livent are all up over 30% to start out the year, while Chile's Sociedad Química y Minera de Chile (SQM) is up around 20% in the same time. The Global X Lithium & Battery Tech ETF (LIT) tracks these names, plus a number of electric vehicle and EV-component makers. More than half of the ETF's constituents are up double digits year-to-date.

Watsco's standout performance

A down day for most stocks in the homebuilding and improvement arena, but Watsco was an outperformer. The HVAC company topped earnings estimates, sending the stock to an all-time high. It's also up around 30% this year, outpacing the iShares U.S. Home Construction ETF (ITB).

Busy day for three health-care stocks

Three big moves in health-care and pharmaceutical-related names today:
Organon & Co. was the worst performer in the S&P 500 after missing on earnings and revenue. Now tracking for its fifth-straight weekly decline.
On the other end of the S&P 500 was West Pharmaceutical, which beat estimates on earnings and revenue, before posting its best day since 2005. That stock is up over 35% since the start of the year.
Genetic testing firm Natera had its best day since May after announcing that Medicare extended coverage of one of its breast cancer tests.

Ethan Kraft | CNBC Breaking News and Markets Producer
@ethan_kraft

Worrisome crypto headlines

Some crypto watchers would probably call them concerning.
The judge threatens to gets tougher on Sam Bankman-Fried. The Securities and Exchange Commission charges Terraform Labs and its CEO Do Kwon. There was also a Reuters article about a transfer of funds by Binance out of the U.S.
But bitcoin is up 11% since Tuesday. It's down slightly since 4 p.m. today.
Marathon Digital is up about 22% in four days, but down 9% today.
MicroStrategy is up 17% in four days, but down 5% today.
Silvergate Capital, which is mentioned in the Reuters story about Binance, fell 22% today, but the stock is still up 15.6% in four days.
Riot Platforms is up 15% in four days, but down 4.5% today.
Coinbase is up 15% in four days, but down 5.4% today.
Cleanspark is up 14.7% in four days and down nearly 5% today.

DraftKings and DoorDash in after-hours action

DraftKings and DoorDash are both up 5% after hours after posting quarterly results.
DraftKings had a big quarter with revenue jumping 81% from a year ago. They're saying customer retention, which is a big part of the online gambling game, was a success. The company raised guidance, but it still expects a loss of up to $450 million dollars in 2023.
DraftKings stock is up 56% in 2023.
DoorDash lost $1.65 cents a share last quarter. But revenue was more than analysts expected. The company called for up to a $750 million buyback and orders increased big time.
DoorDash stock is up 37% in 2023.

A preview of retailers' results

Ahead of next week's big retail quarterly results, CNBC's Melissa Repko will report on what kind of guidance she is looking for from Walmart, Target, Best Buy and Macy's.
Since reporting three months ago, Walmart is down about 3%. Over 12 months, the stock is up 8%.
Since reporting three months ago, Target is up 12%. Over 12 months, the stock is down 16%.
Since reporting three months ago, Macy's is up 13%. Over 12 months, the stock is down 14.6%.
Since reporting three months ago, Best Buy is up 27.6%. Over 12 months, the stock is down 11.5%.