Magnificent News: Watch these cybersecurity winners, Zoom and e-commerce stocks in tomorrow’s trading

Monday, February 27, 2023

Watch these cybersecurity winners, Zoom and e-commerce stocks in tomorrow’s trading

MON, FEB 27, 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

Zoom shares pop in after-hours trading

Zoom Video jumped 8% in the extended session after a big beat on earnings. Revenue also topped estimates. The company's EPS outlook also came in better-than-expected, though revenue guidance was light. The pandemic-era favorite has fallen more than 85% from its all-time high in October 2020.

Solar names' day in the sun

Solar stocks were firmly in positive territory today as analysts at Janney Montgomery Scott upgraded Enphase to buy from neutral, citing recent upbeat demand commentary from solar companies. Enphase is still slated to finish February with monthly declines, along with peers like First Solar, SolarEdge and Sunrun.

DISH shares slump

DISH Network was the worst performer on the S&P 500 today, down 8%, following price target cuts from JPMorgan and RBC Capital. The decline also comes amid a multi-day outage of some of DISH's services, which the company attributed to a systems issue on Feb. 23. The stock is down 63% in the past twelve months, among the biggest declines in the S&P 500 over that time.

Intercontinental Exchange-Black Knight tie-up in question?

NYSE-parent Intercontinental Exchange's planned acquisition of mortgage data company Black Knight could be blocked by FTC action, Politico reported. That news sent shares of Black Knight down as much as 4%, while ICE remained mostly unchanged. BKI is down around 4% since the $13 billion deal was first announced last May.

Radius Global Infrastructure shares leap on report

Radius Global Infrastructure jumped 16% late in the day on Monday, following a Bloomberg report that private equity firm EQT was nearing a deal to buy the company, which leases cell sites to wireless tower companies. The report said EQT could pay more than $14/share in the deal, which could be announced this week. Radius finished today at $13.60/share.

A strong month for cybersecurity

Heading into the last trading day of February, some of the best performers have been in cybersecurity. The First Trust Cybersecurity ETF (CIBR) is one of several big cyber ETFs heading for narrow monthly gains. Much of that is due to larger cybersecurity names that had strong months, including Palo Alto Networks, CrowdStrike, and Fortinet. Palo Alto is on the verge of its best month since December 2020.

E-commerce stocks limp to February's finish line

E-commerce names, on the other hand, have not performed as well this month. Wayfair is down 35%, which would be its worst month since September (but thanks to an 84% gain in January, it's actually still higher so far this year). Etsy is down 12% — its worst since May. Chewy, Amazon, and eBay are all tracking for firm monthly declines as well.