Watch these homebuilders, Stryker and these auto stocks in tomorrow’s trading

TUE, JAN 31, 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

Stryker pops on earnings beat

Medical devices company Stryker is higher in the extended session after a nice beat on earnings and estimates. Its FY EPS outlook also came in ahead of expectations. With the after-hours move, it's around 6% away from a fresh high. While it's only slightly higher so far in 2023, it's been an outperformer on the iShares U.S. Medical Devices ETF (IHI).

Mondelez shares tick up

Mondelez is slightly higher after hours. The company reported a beat on earnings and revenue, supported by gains in volumes and price increases. While the stock has had a slow start to this year, it has outperformed some of its peers in the past few months. The Consumer Staples Select Sector SPDR ETF (XLP), for instance, is up more than 1% in three months, while Mondelez has gained 6% in the same interval.

A big day for homebuilders

Homebuilders soared today, with the SPDR S&P Homebuilders ETF (XHB) and iShares U.S. Home Construction ETF (ITB) each gaining more than 4%. The gains were fueled by PulteGroup, which posted its fourth-straight monthly gain and closed at its highest level since December 2021 – all fueled by a nice beat on EPS and revenue. That also gave a boost to Lennar, which hit its own high, and D.R. Horton, which finished the day less than 1% from a new high.

C3.ai's new product launch

C3.ai unveiled a new AI-driven enterprise search product, which it says incorporates capabilities from firms like ChatGPT-parent Open AI and Google. The stock posted its best day since May 2022 on huge volume, and it capped off its best month since going public in 2020. Still, last year's tech slump has C3.ai almost 30% off its February 2022 high.

Ethan Kraft | CNBC Breaking News and Markets Producer
@ethan_kraft

Snap's quarterly results and after-hours action

Snap fell back beneath the $10 level in after-hours trading as shares declined about 14%. The stock is 72% off the 52-week high.
Digital ad sales for the company remain problematic to questionable.
Meta fell on the news, down about 2%. The company reports tomorrow afternoon. Meta is 55% from the 52-week high.
Pinterest was down about 2% after the bell, as well. Pinterest is 13% from the 52-week high.
Trade Desk, which is a different part of the digital ad market, also fell after the bell. Trade Desk is 42% from the 52-week high.

CNBC's Next Gen 50 in 2023

The CNBC Next Gen 50 tracks a basket of stocks most relevant to the younger generation of American consumers and investors. It's based on names that came from CNBC's staff members under the age of 50 and then vetted by former professional money managers.
While the Next Gen 50 is down 35% in a year, it is up 25% in 2023.
Wayfair is the top performer on the list, up 84% in 2023.
Lucid is up 71% in 2023.
Stitch Fix is down 70% from the 52-week high, but it is up 67% in 2023.
45 of the 50 stocks are up at least 10% in 2023.
20 of the 50 stocks in the CNBC Next Gen 50 are up at least 25% in 2023.
All but three stocks out of the 50 are up: Moderna, Lululemon and Enphase are the exceptions.

Metals that are key to future tech

Pippa Stevens will report on the metals complex, that has more utility than ever before in industries old and new.
On the list:
Lithium: Down 6.5% in 2023.
Aluminum: Up 10.6% in 2023.
Nickel: Flat in 2023.
Zinc: Up 14% in 2023.
Copper: Up 11% in 2023
Tin: Up 18% in 2023.