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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Match and Bumble shares slide |
Match Group and Bumble extended their recent slumps today. Those names are off by more than 25% in just three months, and Match fell to an all-time low in today's trading. Bumble hit its lowest level since March 2022. A majority of analysts covering both stocks have buy ratings, according to FactSet, and they're both trading at decent discounts to their average price target.
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A tough time for media names |
It was a rough day for several big media companies, including 2% declines in giants like Disney, Netflix, and CNBC-parent Comcast. Paramount Global and Charter were down 3% and 4%, respectively. As Warner Bros. Discovery announced major changes to its streaming strategy, the stock fell almost 6%. Still, it's up almost 50% since the start of the year. And then there's DISH Network, which hit its lowest level since 1999 today and is the second-worst performer on the S&P 500 this year, down 42%.
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Abercrombie & Fitch suffers on downgrade |
Abercrombie & Fitch posted its worst day since February after Argus downgraded the stock to hold, saying the company has struggled to expand margins amid headwinds like inflation and cautious consumer spending. The commentary weighed on other mall-focused retailers: Gap fell over 7%, American Eagle and Nordstrom fell 6%, and Urban Outfitters and Macy's fell roughly 5%.
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American Airlines' outlook drags peers' shares |
American Airlines fell 9% today as its first-quarter earnings outlook missed analysts' estimates. The move weighed on all of the major airline stocks, with United falling 6.5%, JetBlue down 3.7%, and Alaska down 2.8%. Delta's 2% drop comes ahead of the company's quarterly results Thursday morning. Despite today's decline, most of the airlines are still in positive territory so far this year. United is the top gainer, up 10%, followed by JetBlue. Alaska and Southwest are lower on a year-to-date basis.
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Cirrus Logic's 12% drop, fueled by rumored changes to Apple's new iPhone, was its worst session since April 2021. Today's move disrupts a relatively consistent upward march for the component-maker this year, which hit an all-time high as recently as March 30. It's still up 20% in 2023, outperforming tech and the broader market.
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Buffett tells why he sold most of his bank stocks — except one
WED, APRIL 12 2023 Citi just named 4 new picks, including a Buffett-backed stock it says could soar 70% TUE, APRIL 11 2023 Morgan Stanley says this chip giant will be a long-term tech leader — and gives it 30% upside
WED, APRIL 12 2023 Here are Wednesday's biggest analyst calls: Netflix, Tesla, Honeywell, Amazon, Shopify, Hyatt & more WED, APRIL 12 2023 JMP says this e-commerce stock could surge 45% as it continues to take market share
WED, APRIL 12 2023 UBS says it's time to buy this banking giant with very low risk ahead WED, APRIL 12 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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