Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., September 9, 2024. 

Brendan Mcdermid | Reuters

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 as stocks rallied Monday and what’s on the radar for the next session.

Apple’s big iPhone launch

  • Apple unveiled its latest slate of iPhones, Apple Watches and AirPods at its much-watched “Glowtime” event Monday, but investors didn’t seem impressed. The stock fell as the event kicked off, but staged a late-day rally to close in the green.
  • Shares hit an all-time high in mid-July, and they are almost 7% from those levels.
  • Still, Apple has been the second-best performing “Magnificent Seven” stock over the last three months.
  • The group has been led to the downside by Google-parent Alphabet, which is down almost 15% in three months, and Nvidia, down nearly 12%.
  • Apple, meanwhile is up more than 12% in the past three months. It’s trailing only Tesla, which is up 22% in that period.
Stock Chart IconStock chart icon

hide content

Apple’s performance in the past month

Oracle earnings

Tall order

  • Monday marked Brian Niccol’s first day as CEO of Starbucks. Shares were up a little over 1%.
  • Niccol takes over from embattled former chief Laxman Narasimhan, who became CEO in March of last year. Under Narasimhan, SBUX shares were down 7.6%. Shares are down 14% from their 52-week high hit last November.
  • Niccol had previously been CEO of Chipotle, a role he took in March 2018. Under his tenure, CMG shares were up nearly 750%.
  • Chipotle shares hit an all-time high in June, just before a 50-for-1 stock split went into effect. The stock is down 21% from that high.
Stock Chart IconStock chart icon

hide content

Starbucks’ 2024 performance

Cancer drug results

  • Shares of Summit Therapeutics soared 56% on very heavy volume after its lung cancer drug showed significantly better results than Merck’s Keytruda in Phase 3 trials.
  • It was the stock’s best day since just May, when it jumped more than 270%.
  • Shares are trading at an all-time high, up more than 630% this year.
  • Merck, meanwhile, was down 2% Monday.
  • Summit was the best performing stock in both the SPDR S&P Biotech ETF (XBI) and iShares Biotechnology ETF (IBB).
  • The second best biotech stock on Monday was Relay Therapeutics, which was up 52% on positive results for its breast cancer drug.

Taking off

Stock Chart IconStock chart icon

hide content

JETS ETF performance in the past month

 New S&P companies

—Kavitha Shastry

CNBC will interview several big market-moving CEOs Tuesday

  • AT&T’s John Stankey is on in the 10 a.m. hour, Eastern time. The stock shot up 2.5% Monday, hitting a new 52-week high. It is up 8% in a week. The dividend on AT&T is 5.2%.
  • Michael Arougheti of Ares Management is also in the 10 a.m. hour. The stock is 10% from the July 31 high.
  • Larry Culp of GE Aerospace is live in the 1 p.m. hour. The stock is 7% from a 52-week high. It jumped 2.5% Monday, but it’s down 5.3% so far in September.
Stock Chart IconStock chart icon

hide content

GE Aerospace’s performance in 2024

Apple’s suppliers

GameStop reports after the bell Tuesday

Stock Chart IconStock chart icon

hide content

GameStop’s one-month performance

Basel III

Boeing August orders and deliveries



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *