ECONOMIC SILUET: Watch this food stock defying analyst calls as bitcoin's rally boosts crypto company shares

Selasa, 11 April 2023

Watch this food stock defying analyst calls as bitcoin's rally boosts crypto company shares

TUE, APR 11, 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

Spice company defies analyst calls, adding another gain to its winning streak

McCormick gained more than 1% Tuesday for its sixth daily gain in seven sessions.
The stock is the top gainer in the S&P 500 through the past month, up over 20%. But the analyst view isn't great: 44% have a hold rating on the stock and 38% rate it a sell, leaving fewer than 20% with a buy rating. It's also trading at a premium to its average price target.

Beaten up financial stocks stage a rally

Financials outperformed today, led by gains in Synchrony, Capital One and Jack Henry.
The regionals are still deep in the red this year, but several of the largest constituents of the SPDR S&P Regional Banking ETF (KRE) are slowly recovering from their worst levels.
Relative to March lows, Huntington Bancshares is up 15%, Truist Financial is up 18%, Regions Financial is up 33%. M&T Bank and Citizens Financial are still hovering near their own lows, with M&T up 7% and Citizens up just 4% from an April 5th low. First Republic Bank is still down almost 90% in 2023, but it finished today up 23% from its March low.

Snowflake and other cloud stocks lag

Weakness in several notable cloud and enterprise stocks continued.
Snowflake was among the biggest laggards today, down 6%. (It's off by more than 10% in a week.)
Datadog and Zoom Video fell nearly 2%.
Adobe and Salesforce are down 3% and 4%, respectively, in a week, though they're still firmly in positive territory over the past month.
C3.ai is off by over 30% since the start of April, but that follows its 200% gain in the first three months of the year, making its recent decline a relatively small pullback.