WED, MAR 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

Ford

Phil LeBeau interviews CFO John Lawler Thursday morning on Squawk Box in the 7 a.m. ET hour as the company will start breaking out units in explaining how the company is faring. That means specific numbers on EVs.
The stock fell 2% today, but not on that news. It’s now about flat for 2023, down 1%. In March the stock is down 5%.
Tesla is down 7% in March but up 55% in 2023.
GM is down 12% in March, down 1% in 2023.
Lucid is down 13% in March, up 16% in 2023.

Another key car stock today is Luminar

The stock was hit hard today, down 14.5% on a downgrade to sell from neutral by Goldman Sachs.
The note said the firm's call came from valuation. Shares are up 33% in 2023, including today’s big drop.
Luminar helps make self-driving technology and electronic safety measures.

Big moves for shipping stocks

Many of the companies seem to have different reasons for rising, it’s not clear that there’s a tide lifting all boats.
Hapag-Lloyd up 1.56% today, and it’s now up 73% in 2023.
Frontline fell today, but is up 40% in 2023.
Zim is up 2.5% today and 39% in 2023. The company recently reported better than expected results and is offering many shareholders a lower withholding rate on foreign taxes (Zim is Israel’s national shipping company).
Nordic American fell nearly 2% today, but the stock is up 34% in 2023.

The bidding for Manchester United picks up

The stock was up more than 6% today.
The bids from British billionaire Jim Ratcliffe and a banker from Qatar Sheikh Jassim bin Hamad al-Thani are believed to be in the $6 billion dollar range (5 billion pound range).
MANU is up 9.8% in 2023 and 23% in March.
I’m not comparing the Atlanta Braves (BATRA) or the Knicks and Rangers (MSGS) to Manchester United, but both of those stocks are up just slightly in 2023 and down in March.

Coinbase gets a Wells notice from the SEC

That’s usually not so good to say the least. It generally signals that the Securities and Exchange Commission has completed or is near completing an investigation, giving a company some time to respond.
SEC Chair Gary Gensler has said in the past that many crypto coins are securities, meaning he wants more regulation and oversight.
Coinbase’s executives say they’re confident they’re running the business legally.
Investors didn’t wait to find out who is right. Shares are down more than 12% tonight.
Even with tonight’s drop, the stock is up 91% in 2023, but it’s still 62% from the $206 high it hit about a year ago.

The restaurant stocks

CNBC’s Pippa Stevens will report on margins, Covid recoveries and what a recession will do to restaurant stocks.
Red Robin is the stock leader in 2023, up 143%.
Bloomin' Brands is up 28% in 2023.
Jack in the Box is up 23.5% in 2023.
McDonald’s is flat.
The pizza guys are at the bottom: Papa John’s is down 4% in 2023, and Domino’s is down 10% in 2023.