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Tomorrow's Top CNBC Stories Tonight
Hasbro's fourth-quarter warning, layoff news
Hasbro is in negative territory in the extended session after warning that its Q4 earnings and revenues would come in well below Wall Street's expectations. The toymaker is also cutting roughly 15% of its workforce, or 1,000 jobs. The warning briefly sent rival Mattel lower after hours, as well, though that stock is still tracking for its best month since last February.
Lackluster guidance drags KLA Corp shares
KLA Corp fell on disappointing guidance. Earlier in the session, the chipmaker hit its highest level in a year, though from a percentage perspective, it has underperformed rivals so far in 2023. The VanEck Semiconductor ETF (SMH) is up 18% since the start of the year. Including its after-hours move, KLA is up just 8%.
Semiconductors' winning week
Speaking of which, it's been an otherwise strong week for semiconductor stocks. The iShares Semiconductor ETF (SOXX) is heading for its best week since mid-November, while the VanEck Semiconductor ETF (SMH) is on pace for its longest weekly win streak since August. Giants Nvidia and Qualcomm are up 11% and 9%, respectively, for the week. Marvell, STMicroelectronics, and ON Semiconductor are also among the names with double-digit gains. Nonetheless, as of today's close, 15 of the SMH's 25 constituents remain 15% or more off recent highs.
Enphase shares continue to suffer
Enphase extended its weakness today, even as other solar stocks held up all right – the Invesco Solar ETF (TAN) rose slightly but it's flat on the week. Enphase is the worst performer on the S&P 500 week to date. The monthly picture isn't any better: It's off by more than 20% in January, which would be its worst month since last January. Despite a downgrade from Piper Sandler earlier in the week, most analysts are still bullish: 64% of those tracked by FactSet have buy ratings. It's set to report earnings in early February.
Intel is now near the bottom of the list of stocks in the widely followed VanEck Semiconductor ETF (SMH), up just 2.75% in 2023 when accounting for the after-hours move.
Hasbro warns on holiday weakness
The company is cutting 15% of jobs.
After-hours, the stock fell 7%. It is now down 2.5% in 2023, and down 4.3% since Nov. 25, the first official day of the Christmas shopping season.
Mattel fell as well on the news. It's down 2% this evening but the stock is up 10% since Nov. 25.
Heavily shorted names
CNBC data team member Nick Wells has a new list of the highest short interest for a bunch of big-name stocks.
Top of the list, Silvergate Capital at 70% of the float. The stock is 91% off the March high.
Carvana was second highest at 59.6% of the float. The stock is 96% off the February high.
Marathon Digital is listed as third highest, with 46% short interest. The stock is 73% off the March high.
Bed Bath & Beyond is at 45% short interest. The stock is 92% from the March high.
Beyond Meat is at 39% short interest. The stock is 76% off the February high.
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