ECONOMIC SILUET: Watch these rallying chip names, DraftKings and these homebuilders in tomorrow's trading

Rabu, 24 Mei 2023

WED, MAY 24, 2023

Tomorrow's Top CNBC Stories Tonight

Chip jump

By now, you know that Nvidia shares jumped 25% in extended trading after the chip giant posted quarterly numbers and guidance.
Taiwan Semiconductor Manufacturing is up 7% after hours.
Advanced Micro Devices is up 8% after hours.
Applied Materials is up 2% after hours.
The VanEck Semiconductor ETF (SMH) is up 5% after hours.

REIT trouble

Alexandria Real Estate is at a 26-month low, down 21.5% in 2023.
Crown Castle is at a 40-month low, down 18% in 2023.
Healthpeak Properties is at a 26-month low, down 21.6% in 2023.
The big real estate investment trusts that are up in 2023 make up a pretty small list. Those names include Brookdale Senior Living, up 30%; Welltower, up 13%; CareTrust, up 1% and AvalonBay, up 6.5%. There are also Host Hotels, up 3.2% this year; UDR, up about 2%; Iron Mountain, up 7.2%; Equinix, up 3%; Prologis, up 7.3% and Public Storage, up 1%.
The Real Estate Select Sector SPDR Fund (XLRE) is down 4.6% in 2023.

Mortgages and housing stocks

Auto sales

CNBC's Phil LeBeau will report on the sector tomorrow as dealers get ready for what is traditionally their best three months for sales of any given years.
Sales keep going up as automakers increase incentives and move to leasing options for electric vehicles.
Carvana is up 66% in May.
Tesla is up 11% in May. Don't miss a repeat of the David Faber-Elon Musk interview tomorrow night on CNBC.
Mobileye is up 7.3% in May.
Hyundai is up 6.8% in May.
Honda is up 6.2% in May.
Stellantis and Ford are down 5.3% and 4.6%, respectively, in May.
GM is down 2.3% in May.

Bill Ackman hits Icahn

Icahn Enterprises has been getting hit hard since a short report a few weeks ago. The stock dropped nearly 14% today, and it's down 3% after hours.
The stock is down 52% since the May 2 report from Hindenburg Research.
In a Twitter post, Bill Ackman — who famously feuded with Carl Icahn on "Halftime Report" live on television over Herbalife in 2013 — piled on today. He wrote, "a controlling shareholder of a company with a small float that pays a large dividend can cause his company to trade at a large premium to intrinsic value." Ackman also said IEP "is not supported by operating cash flows." He added, "Over his storied career, Icahn has made many enemies. I don't know that he has any real friends. He could use one here."