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. |
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Tomorrow's Top CNBC Stories Tonight |
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Industrials' quiet move higher |
Industrials have been quietly moving higher in recent months. A sizable group of Industrial Select Sector SPDR ETF (XLI) constituents are trading at all-time highs, including Paccar, United Rentals, Eaton Corp., Parker Hannifin, TransDigm, Carrier Global and W.W. Grainger. United Rentals is up over 35% in three months. FedEx, Boeing and Pentair are among the other names with gains above 18% in the same interval.
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A tough run for 3M, Southwest and Northrop Grumman shares |
On the other side of the coin are names like 3M, Southwest Airlines and Northrop Grumman. They're each down more than 10% in three months. However, all three are trading at discounts to their average analyst price target. In terms of ratings, most analysts tracked by FactSet rate Southwest as a buy, while 3M and Northrop Grumman have mostly hold ratings.
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Recent weakness in retail and apparel names continued today, with Macy's and Gap falling 4% each. American Eagle, Dollar Tree, and e-commerce players like Wayfair and eBay were also firmly in negative territory. RH fell about 5% after a downgrade to hold by Jefferies. Victoria's Secret is off by more than 10% in a week and over 20% in the past month. Overall, around 80% of the SPDR S&P Retail ETF (XRT)'s constituents are in negative territory over the past month. We'll get earnings from Dick's Sporting Goods on Tuesday morning – that stock was flat today and is down around 2% in the past month.
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Align Technology fell from its session highs to finish near the flatline. Despite a 2% drop over the past month, the stock is still up roughly 80% in three months – the best performer on the S&P 500 in that time. Still, ALGN finished the day around 30% from its recent high.
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Natural gas tumbles and so do related names |
Natural gas prices fell their most since June, sending related stocks firmly lower. That includes names like Comstock, Cheniere Energy, Antero, and EQT, all of which were off by more than 3.5%. As natural gas prices have cooled, Comstock and Antero have fallen more than 15% in three months, and EQT is down 10%.
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Searching for elite dividend payers |
There is a great piece on CNBC Pro about stocks with dividend yields that exceed those of bonds right now. CNBC used FactSet data to screen within the universe of the biggest 1,500 stocks. Criteria included a debt-to-equity ratio less than 150%. Selected names also must have beaten the S&P 500 over the past 12 months, which means they have to do better than negative 6.5% on performance. Stocks that made the list include: ALLETE, which has a dividend of 4.4% Cal-Maine with a dividend of 9.5% CONSOL Energy with a dividend of 7.3% Coterra with a dividend of 9.7% Dow Inc. with a dividend of 4.9% Devon Energy with a dividend of 9% Huntington Bancshares with a dividend of 4.1% Kraft Heinz with a dividend of 4.1% Kinder Morgan with a dividend of 6.3% LyondellBasell with a dividend of 5% NorthWestern Corporation with a dividend of 4.4% Corporate Office Properties Trust with a dividend of 4.5% Provident Financial Services with a dividend of 4.2% Tredegar Corporation with a dividend of 4.6% Viatris with a dividend of 4.4%
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What's next after two big calls on Apple? Goldman Sachs set a $199 price target on the company's shares. Morgan Stanley reiterated its overweight call and said if everything goes right, watch out for its bull case at $230. The stock was up 1.85% today. It's up 4% in a week, and has gained 18% in 2023. Apple is 14% from a 52-week high.
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Goldman Sachs has added 3 stocks to its conviction buy list, giving one 100% upside
SUN, MARCH 05 2023 These 3 stocks have gained every year for a decade — and are expected to keep rising MON, MARCH 06 2023 Goldman Sachs says Apple can rally more than 30% thanks to its services business
MON, MARCH 06 2023 Here are Monday's biggest analyst calls of the day: Apple, Tesla, Nio, Ferrari, Merck, Nvidia & more MON, MARCH 06 2023 Wall Street pros name the biggest risk to stock markets — and how to trade it
SUN, MARCH 05 2023 These elite dividend payers have yields that can compete with bonds MON, MARCH 06 2023 |
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Biggest Stock Picks on CNBC TV |
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Here are the best trade ideas from investors and analysts on CNBC today. |
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