Watch this under-the-radar auto tech stock, Lucid and this surprise short in tomorrow’s trading

WED, FEB 22, 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

Luminar pops on Mercedes-Benz deal

Lidar-maker Luminar Technologies posted its best day since December 2020 on a "multibillion dollar" deal with Mercedes-Benz. While the stock has had a strong start to this year, it was beaten down in 2022 and remains over 50% off its recent high.

Teladoc's after-hours tumble

Teladoc fell as much as 10% after hours. The company posted a very slight beat on revenues, but its Q1 and FY EPS and revenue guidance were slightly lower than expected. In the extended session, the stock is currently trading around $27/share. That's down over 90% from its 2021 all-time high of $308/share.

Mosaic slips on results

Mosaic pulled back slightly in the extended session after a sizable miss on earnings. The fertilizer company noted lower demand for potash and phosphates, even as prices fell late in 2022. Mosaic is flat in the past three months (trading roughly in line with the broader materials sector), while rival CF Industries is down over 20%.

Energy names' continued slump

Oil and gas stocks continued their recent underperformance today. The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) and Energy Select Sector SPDR ETF (XLE) are down 18% and 10% over the past three months, respectively. Heavyweights Chevron and Exxon are both tracking for monthly declines, with Chevron on pace for its third in a row.

Ethan Kraft | CNBC Breaking News and Markets Producer
@ethan_kraft

Famous and widely followed investor Jim Chanos is short GE

The stock is up 27% in 2023.
Short interest on this stock is only 1%.
The segment on GE was on CNBC's "Closing Bell."

Lucid and the electric-vehicle market

Lucid posted Q4 revenue that was short of analysts' expectations.
The stock is down 9% this evening.
Before the after hours today, it was up 46% in 2023.
Tesla is up 63% in 2023.
Many other straight EV makers have very small stock prices but have had big jumps. Those names include ElectricaMeccanica, which is up 44% in 2023, but it's off 65% from the high. Workhorse is up 32% in 2023, but down 62% from the high.
Fisker is on the other side of the spectrum, down 10.5% in 2023.

Luminar's jump

Shares spiked nearly 30% today amid a deal with Mercedes-Benz that will help with a future hands-free driving system.
Shares are now up about 50% in 2023.
Ethan Kraft mentioned other details above, but we should add: Mobileye, which is also in that space, is up about 17% in 2023.

Dutch Bros' latest results

Revenue was up 44% but same shop sales dropped 0.6% in the quarter.
Dutch Bros opened 133 new shops in 2022, and they hope to open 150 more in 2023.
Short interest is now below 20%.
Josh Brown, CEO of Ritholtz Wealth Management, at last check owned the stock.

American Tower reports Thursday

The stock hasn't done well in 2023. American Tower is down about 6%, and it's 30% off the 52-week high.
Crown Castle is down 1% in 2023, and it's off 33% from the high.
SBA Communications is down 7% in 2023, and it's off 29% from the high.
The Defiance Next Gen Connectivity ETF (FIVG), however, is up nearly 7% in 2023.
AT&T and T-Mobile are both up 5% in 2023, and Verizon is flat.