Stocks @ Night is a daily newsletter delivered after hours, giving you a first look at tomorrow and last look at today. Sign up for free to receive it directly in your inbox. Here's what CNBC TV's producers were watching on Tuesday and what's on the radar for Wednesday's session. United Airlines The carrier reported solid earnings Tuesday afternoon but reduced guidance in part because of high jet ...
Stocks @ Night is a daily newsletter delivered after hours, giving you a first look at tomorrow and last look at today. Sign up for free to receive it directly in your inbox. Here's what CNBC TV's producers were watching on Tuesday and what's on the radar for Wednesday's session. United Airlines The carrier reported solid earnings Tuesday afternoon but reduced guidance in part because of high jet fuel prices. United Airlines stock ticked up slightly after hours. Shares are 19% below the January high, but up 12% over the past month. CEO Scott Kirby will be on "Squawk Box" with Becky Quick, Joe Kernen and Andrew Ross Sorkin in the 8 a.m. ET hour. UAL 1M mountain United Airlines stock performance over the last month Boeing The numbers come out live on "Squawk Box." Boeing shares are down 12% in the three months since the airplane maker's last report. The stock is 14% from the 52-week high. CEO Kelly Ortberg will be on "Squawk on the Street" live in the 9 a.m. hour with Carl Quintanilla, David Faber and Jim Cramer. AT & T reports live on 'Squawk Box' The stock up 10% since its last report three months ago. AT & T kicks back 28 cents a share each quarter to shareholders — that's a dividend yield of 4.29%, as of tonight. The stock is down 13% since its September high. Otis Worldwide A lot of ups and downs with this company. (They make elevators and escalators ... ups and downs … get it?) The stock is down about 12% since last reporting three months ago. Otis Worldwide is 22% from its July high. The 'Big' reports after the bell IBM shares are down 14% since its last report three months ago. "Big Blue's" stock is 21% from its November high. Tesla is down 10% since its last report three months ago. Shares are 23% from the December high. The prediction market platform Kalshi has several Tesla markets. One focuses on production in the second quarter, with 59% saying it'll be above 420,000 units. Forty-eight percent say it'll be above 440,000 and 33% expect it to be above 460,0...
Richard Drury/DigitalVision via Getty Images One of my better calls in recent years has been my bullish stance on Customers Bancorp, Inc. ( CUBI ). Since I last reaffirmed the company as a "Buy" candidate in early October of last year, the stock has risen 21.6%. That's well above the 5.9% rise that the S&P 500 saw over the same window of time. But that's not all. I first turned bullish on it in Au...
Richard Drury/DigitalVision via Getty Images One of my better calls in recent years has been my bullish stance on Customers Bancorp, Inc. ( CUBI ). Since I last reaffirmed the company as a "Buy" candidate in early October of last year, the stock has risen 21.6%. That's well above the 5.9% rise that the S&P 500 saw over the same window of time. But that's not all. I first turned bullish on it in August 2023. And in that time, the stock has skyrocketed 126.6%. The market, meanwhile, is up only 61.4% over that same period. This is a monumental amount of appreciation. And it can be attributed to high-quality assets and continued expansion. At some point, however, all good things must come to an end. And it is my view, based on how the company is priced, that taking a slightly more cautious approach is justified. Because of that, I have decided to downgrade it to a "Hold" for now. Though in all honesty, it wouldn't take much for me to upgrade it once again. Hopefully, that will happen in the coming days. I say that because, on April 24, management will be announcing financial results for the first quarter of the company's 2026 fiscal year. The current expectation is for revenue and profitability to improve. But unless something really big and unexpected occurs that is a positive for shareholders, I still don't see myself upgrading it. Instead, adopting the aforementioned "N eutral" stance seems to make the most sense. Time To Scale Back After such an amazing run higher, it shouldn't be surprising that I am downgrading Customers Bancorp from a "Buy" to a "Hold." This does not mean that I think negatively about the quality of the institution or its operational potential moving forward. In fact, in many respects, the company is doing a fine job. At the end of 2025 , for instance, deposits came in at $20.78 billion. That's up from the $18.85 billion that the institution had a year earlier. I am a bit frustrated by the fact that 33% of deposits are brokered. This means that t...
Lima A group of Republican congressional lawmakers is poised to file long-awaited legislation that would allow for year-round, nationwide sales of higher-ethanol gasoline, Argus reported Tuesday. The proposal reportedly would limit exemptions from annual biofuel blending mandates to companies that process no more than 75K bbl/day of total refining capacity across all their facilities and would all...
Lima A group of Republican congressional lawmakers is poised to file long-awaited legislation that would allow for year-round, nationwide sales of higher-ethanol gasoline, Argus reported Tuesday. The proposal reportedly would limit exemptions from annual biofuel blending mandates to companies that process no more than 75K bbl/day of total refining capacity across all their facilities and would allow for exemptions for refineries that are at risk of closure. The group plans to file the legislation on Wednesday, following years of efforts by the agriculture industry to pass legislation allowing year-round sales of E15 gasoline nationwide; legislation has failed consistently as much of the oil industry has historically opposed the attempts, since refiners are burdened with expenses from biofuel blending. The latest proposal, like earlier drafts, would allow year-round sales of gasoline blends containing 15% ethanol, which farm groups have favored as a way to help corn growers and drivers alike; regulators over the years have often taken emergency action to waive summertime E15 limits that prevent its sale in much of the U.S., but permanent access requires legislation. Potentially relevant stocks include Valero Energy ( VLO ), Marathon Petroleum ( MPC ), Phillips 66 ( PSX ), HF Sinclair ( DINO ), PBF Energy ( PBF ), Delek US ( DK ), Archer Daniels Midland ( ADM ), Bunge ( BG ), Green Plains ( GPRE ), Gevo ( GEVO ), Clean Energy Fuels ( CLNE ), REX American Resources ( REX ), Darling Ingredients ( DAR ), FutureFuel ( FF ). ETF: ( CRAK ) More on Valero Energy and Archer Daniels Midland Valero Energy: Windfall Profits Lead To 14% Capital Returns Valero Energy: An Oil Refiner That Will Grow Even With An Open Strait of Hormuz Archer Daniels Midland: Policy Wins Don't Fix This Dividend King's Valuation
BHP Group said it has finalized a supply agreement with China’s state-backed iron ore buyer, ending a tense standoff that had led to product restrictions and roiled the market. BHP has concluded iron ore sales contract negotiations with China Mineral Resources Group Co. , according to the company’s operational review on Wednesday. Terms, including pricing mechanisms and contract duration, weren’t ...
BHP Group said it has finalized a supply agreement with China’s state-backed iron ore buyer, ending a tense standoff that had led to product restrictions and roiled the market. BHP has concluded iron ore sales contract negotiations with China Mineral Resources Group Co. , according to the company’s operational review on Wednesday. Terms, including pricing mechanisms and contract duration, weren’t disclosed. The resolution allows BHP, one of the world’s biggest iron ore suppliers, renewed access to its largest market after around seven months of disruption. In September, CMRG escalated a pricing dispute with the Australian miner by urging steel mills to halt purchases of its Jimblebar Fines blend, a ban that was later extended to other BHP products over months of a breakdown in commercial negotiations. Bloomberg News reported last week that CMRG had eased restrictions on BHP iron ore, with ports allowing new deliveries of cargoes, in a sign that an agreement had been reached. It followed a recent visit to China by BHP’s incoming chief executive officer, Brandon Craig. CMRG was established in 2022 to give China more bargaining power with overseas miners, including Rio Tinto Group and Vale SA. It’s taken a more assertive approach over the past year, contending that pricing terms and contract structures are unfair to Chinese steelmakers.
Caiaimage/Martin Barraud/iStock via Getty Images Almost a year ago , I had issued a Sell rating on the Invesco S&P 500 BuyWrite ETF ( PBP ). My take was rooted in PBP's aggressive option writing becoming a constraint for upside capture. For a long-term income investment, that still matters and is applicable to PBP. However, recent market conditions and my outlook of a range-bound to pressured mark...
Caiaimage/Martin Barraud/iStock via Getty Images Almost a year ago , I had issued a Sell rating on the Invesco S&P 500 BuyWrite ETF ( PBP ). My take was rooted in PBP's aggressive option writing becoming a constraint for upside capture. For a long-term income investment, that still matters and is applicable to PBP. However, recent market conditions and my outlook of a range-bound to pressured market ahead could mean a good time to tactically lean toward PBP. In this thesis I will analyze how the PBP portfolio is better aligned for the regime we are in and could significantly outperform several popular S&P 500 Buy-Write strategies. I anchor my thesis as a comparison with SPYI for context, one of the most popular income variants based on the same underlying. And as we will see, the Sell call on PBP is looking a little harsh today. An upgrade to a Hold acknowledges the tactical superiority (that by a fair margin) of PBP for tactical allocations. PBP Becoming More Relevant The structural long-term drawbacks of an aggressive option-writing strategy like PBP are very much evident from the long-term charts (total returns) in comparison with the underlying (proxied by SPY) and SPYI. SPYI (you can read my comparative view of SPYI here ) is a superior full-cycle play compared to many peers in the S&P 500 Buy-Write category in my view, primarily because it allows a lot of upside capture, provisions for changing the option layer strategy according to market conditions, and overall better long-term income. However, that flexibility in the option layer (aggressively writing options in range-bound markets) has not shown up so far as the S&P 500 has been cooling over the past few months (we will discuss in the subsequent section in greater detail). Which means, even though SPYI (or other popular upside-friendly income strategies) is a long-term Buy , they could go through several months or even years of underperformance compared to PBP-like aggressive strategies. One such regime is...
SweetBabeeJay/iStock Editorial via Getty Images The demand for Fossil Group, Inc.'s ( FOSL ) products has been continuously declining over the past years, and their bottom-line results also consistently came in negative. Although the stock price in the past 12 months increased by more than 500%, I do not think that the firm is fundamentally attractive, and I also do not think that this stock price...
SweetBabeeJay/iStock Editorial via Getty Images The demand for Fossil Group, Inc.'s ( FOSL ) products has been continuously declining over the past years, and their bottom-line results also consistently came in negative. Although the stock price in the past 12 months increased by more than 500%, I do not think that the firm is fundamentally attractive, and I also do not think that this stock price increase is justifiable fundamentally. Considering the current macroeconomic landscape - including consumer confidence and energy prices - I am even more doubtful. Today, my aim is to give you a balanced view about the firm and highlight why I believe that FOSL is not an attractive stock to own. Sales In fiscal 2025, FOSL posted a sales decline of 12.3% compared to the prior year, proprietary and licensed product sales both falling. Sales (Fossil) If we break down the revenue by geography, we can also see that it is not a single region that is pulling the sales down, but the firm is struggling globally. Demand seems to be exceptionally weak, with sales falling by double digits in 3 out of 4 reported geographic regions. Sales by geography (Fossil) Further, when we look at the product categories individually, we can also see that the lack of demand seems to be broad-based across all categories as well. Sales by product category (Fossil) When a firm is struggling to keep customer interest across all categories, they have a major problem, in my view. And this has been the case for years now. Although there are plans of potential turnarounds, I do not see any signs of these plans materialising - at least not on the demand side. I believe that as long as the firm cannot come up with an appealing product, which could help them differentiate themselves from the competition, a successful turnaround is not very likely. Especially when we consider the macroeconomic headwinds as well. For example, consumer confidence in the United States is at historic lows. When people are less certa...
The Justice Department alleges that the SPLC improperly raised millions of dollars to pay informants to infiltrate the Ku Klux Klan and other extremist groups. (Image credit: Jacquelyn Martin)
The Justice Department alleges that the SPLC improperly raised millions of dollars to pay informants to infiltrate the Ku Klux Klan and other extremist groups. (Image credit: Jacquelyn Martin)
Israel Says Hezbollah Fired Rockets, Breaching Lebanon Ceasefire Just as the Iran ceasefire seems on the brink of collapsing (though unilaterally extended late in the day Tuesday by Trump), so does the Lebanon one as well, as on Tuesday Israel accused Hezbollah of firing a new rocket volley at its IDF forces, effectively breaking the ceasefire. The Israel Defense Forces said Hezbollah targeted its...
Israel Says Hezbollah Fired Rockets, Breaching Lebanon Ceasefire Just as the Iran ceasefire seems on the brink of collapsing (though unilaterally extended late in the day Tuesday by Trump), so does the Lebanon one as well, as on Tuesday Israel accused Hezbollah of firing a new rocket volley at its IDF forces, effectively breaking the ceasefire. The Israel Defense Forces said Hezbollah targeted its troops in southern Lebanon, seeing in this a breaching of the fragile ceasefire ahead of a further round of US-mediated talks between the Israeli and Lebanese governments. Illustrative prior war image: Getty However, Hezbollah's stated stance is that it has the "right to resist" Israeli forces operating inside southern Lebanon , given they are occupying forces. Starting last Thursday, a 10-day ceasefire brokered by Washington took effect, even as Israeli forces remain deployed in a strip of Lebanese territory several miles deep along the border. Israel calls it a 'buffer zone' - but Lebanese sees it as a land grab . Lebanese Parliament Speaker Nabih Berri, a Hezbollah ally and leader of the Amal Movement - which is the other big Shia organization in Lebanon - has newly stated that if Israel "maintains its occupation, whether of areas, positions, or by drawing yellow lines, it will smell the scent of resistance every day." He added: "If they insist on remaining, they will face resistance, and our history bears witness to that." Lebanese officials have also charged Israel with trying to erase the Lebanese presence in southern Lebanon in a genocidal act, or 'cultural genocide'. This after Israeli forces have carried out demolitions in southern villages, targeting what they describe as Hezbollah infrastructure embedded in civilian areas. Lebanon’s state-run National News Agency reported new detonations in at least eight villages on Tuesday, as well as shelling in some of these locations. 🇮🇱🇱🇧⚡️– Al Jazeera: Israel has established a "yellow line" in southern Lebanon, a no-go zo...
With an IPO looming for Elon Musk's SpaceX / xAI / X combo platter of companies , SpaceX has announced an odd arrangement to either acquire the automated programming platform Cursor for $60 billion or pay a fee of $10 billion. Buying this startup that's focused on AI coding could help xAI's tools compete with market leader Anthropic, as well as the other competitors. A report by The Information th...
With an IPO looming for Elon Musk's SpaceX / xAI / X combo platter of companies , SpaceX has announced an odd arrangement to either acquire the automated programming platform Cursor for $60 billion or pay a fee of $10 billion. Buying this startup that's focused on AI coding could help xAI's tools compete with market leader Anthropic, as well as the other competitors. A report by The Information this week said Sergey Brin has directed Google's "strike team" to help its agentic AI tools catch up , while Sam Altman reportedly declared a "code red" at OpenAI last year before shutting down Sora to focus on the ChatGPT superapp and its own Codex too … Read the full story at The Verge.
The Hong Kong authorities are pushing ahead with the city’s first five-year development plan, with the launch of a public consultation in this quarter. This is a welcome step to ensure directions are not imposed in a top-down approach. It is important that all sectors contribute to the process so that the city can develop policies and measures that align with the national goals and strategies unde...
The Hong Kong authorities are pushing ahead with the city’s first five-year development plan, with the launch of a public consultation in this quarter. This is a welcome step to ensure directions are not imposed in a top-down approach. It is important that all sectors contribute to the process so that the city can develop policies and measures that align with the national goals and strategies under “one country, two systems”. Announcing a key timeline for the initiative, Chief Executive John Lee...
‘That was unacceptable in every aspect of the game’ Brighton overtake Chelsea in sixth with 3-0 victory Liam Rosenior bemoaned the “most difficult night” in offering no defence of his Chelsea players after they slumped to a 3-0 defeat by Brighton . “By far,” Rosenior replied when asked if this was the toughest day of his short Chelsea tenure. Questions of whether he survives in his position as hea...
‘That was unacceptable in every aspect of the game’ Brighton overtake Chelsea in sixth with 3-0 victory Liam Rosenior bemoaned the “most difficult night” in offering no defence of his Chelsea players after they slumped to a 3-0 defeat by Brighton . “By far,” Rosenior replied when asked if this was the toughest day of his short Chelsea tenure. Questions of whether he survives in his position as head coach until Sunday’s FA Cup semi-final with Leeds will be floated after his team’s abject performance. Continue reading...