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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Cybersecurity stock plunging - Crowdstrike fell 18% in the extended session after reporting a beat on EPS and revenue, though its Q4 revenue guidance was light. Prior to this move, the stock had already underperformed other cybersecurity names. ETFs that track those stocks, including BUG, CIBR, and IHAK were off 9% or less this month, while Crowdstrike had fallen 14% as of today's close.
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Biotech buyout? - Horizon Therapeutics confirmed after the bell that it is in "highly preliminary discussions" with pharmaceutical giants Amgen, Janssen Global Services (owned by Johnson & Johnson), and Sanofi over a potential takeover. Amgen, Johnson & Johnson, and Sanofi were mostly unchanged in the extended session, though Horizon soared nearly 40% after a news-related halt. So far in 2022, Horizon has been an underperformer, off by more than 25% as of today's close.
Contrarian China play working - Chinese tech stocks outperformed today. Despite headwinds throughout the month, including recent protests, these stocks are poised for big monthly gains. Giants like Alibaba and JD.com are on pace for their best gains in over 7 years. Pinduoduo is trading at its highest level in a year. Smaller-cap names Tencent Music and Bilibili are up 83% and 73% respectively… that would be the best month for both names since their U.S. debuts. Several of the ETFs that track Chinese stocks are poised for their largest monthly gains since inception, including the KWEB (2013), FXI (2004), and MCHI (2011). Nonetheless, all three are still 30% or more off recent highs, so they have a ways to go before fresh records.
Holiday season winner so far - Etsy has also had a really strong November, gaining 30% so far this month. The stock declined for 7-straight months beginning in December 2021, so it remains far off its record high, but this month's turnaround has it trading at its highest level since March. Sentiment on Wall Street is mixed, with 48% of the analysts tracked by FactSet rating Etsy a "buy," and another 48% rating it "hold." It currently trades at a slight premium to its average analyst price target.
Under-the-radar EV winner - Polestar remains an outlier among electric vehicle-makers. The stock gained roughly 3% today, while rivals like Tesla, Lucid, and Rivian finished lower. In November, PSNY is up 60%, while Lucid has fallen 32%, Tesla has fallen 21%, and Rivian has fallen 18%. Polestar is owned by Volvo, a subsidiary of China-based Geely. On that note, Chinese EV-makers also outperformed this month, with Li Auto up 36%, XPeng up 11%, and NIO up 9%.
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Big on PRO TALKS late afternoon…Online Now: Tom Lee - Tom Lee believes energy stocks could double in the next year
- The XLE is up 63.5% in 2022 so far
- Occidental Petroleum is the leader up 138% in 2022
- EQT Corporation is up 95% in 2022
- Marathon Petroleum is up 93% in 2022
- On the bottom of the list: ONEOK up 10.5% in 2022, Kinder Morgan is up 19% in 2022 and Baker Hughes is also up 19% in 2022
- However Kinder Morgan, despite being an energy laggard, has a 5.9% dividend and ONEOK pays 5.7%
- Separately Tom Lee also is calling for a ten percent jump for the great markets between now and the end of the year… keep in mind of course he has been very bullish, and less than right throughout much of the year
Oil vs. Oil Stocks - We'll be digging into the widening gap between the two on CNBC TV Wednesday
- In the last two months the SPDR Energy ETF (XLE) is up 25%
- WTI however is down 3% and Brent is down 5% in the same time period
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Cybersecurity stocks will be in focus tomorrow - Beyond Crowdstrike… Ethan mentioned above, here's how the other cybersecurity stocks are faring as that one falls
- Sentinel One is down 6% after hours
- Cloudflare is down 3% after hours
- Zscaler is down 5.8% after hours
- Fortinet is down 3% after hours
- Palo Alto Networks is down 3% after hours
Railroad stocks in focus as Congress looks to stop strike - As the drama and uncertainty plays out from Washington to the rails, the stocks keep chugging along
- Norfolk Southern is up 11% in November
- CSX is up 10.7% in November
- Union Pacific is up 8% in November
- Canadian Pacific is up 7.7% in November
- Canadian National Railway is up 5.7% in November
Investors May Prefer… - Preferred stocks have been a longtime strategy of Warren Buffett
- While it might not be so easy to get in for many retail investors the PFF (iShares Preferred ETF) is up 3% in November and is paying a 5.3% dividend right now, which of course beats the bond complex, including the HYG high yield bond ETF, paying 5% right now
- Citi Global Wealth's Kristen Bitterly made the case for preferred stock on Closing Bell Monday
- We will continue to try and point out those high yield opportunities in this note and of course moving forward on CNBC TV
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Big Tech is set for a comeback, asset manager says, naming 2 stocks to get ahead of it TUE, NOVEMBER 29 2022 Here are Tuesday's biggest analyst calls: Apple, Amazon, Tesla, Disney, Roku, Boeing, UPS & more
TUE, NOVEMBER 29 2022 Asset manager names 9 'cheap' stocks to buy as recession fears grow TUE, NOVEMBER 29 2022 This is the moment when you should sell some shares, says Josh Brown
TUE, NOVEMBER 29 2022 Fed Chair Jerome Powell is once again the center of attention for markets TUE, NOVEMBER 29 2022 Ed Yardeni says bond yields are pointing to a bottom for stocks and no 'hard landing'
TUE, NOVEMBER 29 2022 |
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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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