ECONOMIC SILUET: Watch this standout HVAC stock, Boeing and these consumer names in tomorrow’s trading

TUE, APR 25, 2023

Tomorrow's Top CNBC Stories Tonight

Enphase suffers in after-hours action

Enphase is down over 15% in the extended session on a weak Q2 revenue outlook. Revenues for its prior quarter also missed estimates. The stock had already been underperforming peers, down 16% YTD as of today's close. The Invesco Solar ETF (TAN), in contrast, is up around 4%, while fellow S&P 500 constituents SolarEdge and First Solar are up 9% and 40%, respectively.

Cybersecurity stocks slide

It was a rough day for several cybersecurity names, with Tenable Holdings falling almost 20% on weak outlook. That weighed on CyberArk, which fell 10%. Larger names Zscaler and CrowdStrike fell 8% and 6%, respectively. The group has had a mixed year so far: Palo Alto Networks and Fortinet are up around 30%, while names like Zscaler and Gen Digital are off more than 17% each. Several of the ETFs that track those names are still in positive territory for the year but tracking for losses in April. Global X Cybersecurity ETF (BUG) is down almost 9% month to date, which would be its first monthly decline since December.

Watsco's winning ways

HVAC firm Watsco has gained almost 9% in a week and is hovering near all-time high levels after an earnings beat last Thursday. Loop Capital and Deutsche Bank hiked their price targets on the stock today, though both reiterated hold ratings. The stock is up a nice 39% so far this year.

Carrier Global's big news

Speaking of air conditioning, Carrier Global declined earlier in the extended session after reiterating its full-year outlook and announcing plans to buy Viessmann Climate solutions and exit its Fire & Security and Commercial Refrigeration businesses. Various elements of that transformation plan have trickled out in news reports throughout the month, so some of that may be priced in. At the low point of its after-hours move, the stock was down 10% month to date, which would be its worst monthly decline since last April.

Worst day since 2012 for MSCI

MSCI posted its worst day since 2012 after missing analysts' estimates on revenue. The index provider also said it had not been immune to market turmoil, specifically noting a decline in sales of ESG and real estate products. Despite today's fall, MSCI is still holding on to a year-to-date gain, slightly outperforming the broader financials sector.

The Great American Consumer

Starbucks hit a 16-month high today. The stock is up 28% in six months.
Clorox hit a 15-month high today. The stock is up 16.5% in three months.
McDonald's hits a new all-time high. The stock is up 14% in six months.
Chipotle hits an 18-month high. The stock is up 14% in three months.
General Mills hits an all-time high. The stock is up 13.6% in three months.
Hershey's hits an all-time high. The stock is up 13.5% in 2023 and 19% in three months.
Pepsi hits an all-time high. The stock is up 10% in three months.
Thanks to CNBC's Chris Hayes for the stock stats.

The consumer from the CEO level

Good stuff from CNBC's Harriet Taylor and our field producer team, outlining what top executives see as far as the great American consumer.
Verizon: "Payment trends are at a healthy pre-Covid-19 level and consumers are shopping."
Whirlpool: "We're still seeing lower demand due to softer consumer sentiment impacting discretionary appliance purchases."
GM: "We need to be very conscious of the macro environment around us."
McDonald's: "Our base expectation is for mild recession in the U.S. and Europe…" and "We are seeing in some places resistance to pricing…" … "Things are reflective of a more challenging macro-environment."

Dividends

An analysis by S&P shows dividend hikes are likely to come soon.
Sixty-seven members of S&P 500 are expected to hike regular dividends at the next possible opportunity.
The bulk of them are expected from the consumer staples and materials sector.
The energy sector is expected to see dividend cuts.
The Energy Select Sector SPDR Fund (XLE) represents the S&P Energy sector, and the dividend right now is 3.92%. The fund is 10.6% from the 52-week high set in November and down 3% so far this year.
The Consumer Staples Select Sector SPDR Fund (XLP) represents the S&P Consumer Staples sector, and the dividend right now is 2.41%. The fund is 4% from a 52-week high and up 3% in 2023.
The Materials Select Sector SPDR Fund (XLB) covers the S&P Materials sector. The dividend right now is 2.22%. The fund is 10% from its 52-week high and up 2.3% in 2023.

Artificial intelligence

The new industry came up in both the Alphabet and Microsoft calls today.
CNBC's senior news editor Tom Rotunno outlined some of the data today after a note from JPMorgan. Here's more on the stocks leading the space including Microsoft, Alphabet, Nvidia, Amazon, Meta and Salesforce.
Nvidia is up 79.5% in 2023 and 6.6% from a high.
Meta is up 72% in 2023, and it's 7.5% from a high.
Salesforce is up 44% in 2023. Shares are 5% from a high.
Amazon is up 22% in 2023. The stock is 30% from a high.
Alphabet is up 17% in 2023. Shares are 15.7% from a high.
Microsoft is up 15% in 2023, and shares are 6.4% from a high.
The stats from JPMorgan show these stocks are responsible for 53% of the gains year to date in the S&P 500 and 54% of the Nasdaq's gain this year. The tech-heavy index is up almost 13% in 2023.

Boeing

Phil LeBeau has the quarterly results of this big mover Wednesday morning. Then he will interview CEO Dave Calhoun live and exclusively in the 9 a.m. hour ET.
The stock is up almost 40% in six months. That's better than any Dow component in that same time period.