Stocks @ Night is a daily newsletter delivered after hours, giving you the first information about tomorrow and the last information about today. Sign up for free to receive it straight to your inbox. Here’s what CNBC television producers were watching Wednesday and what they’re looking at for Thursday’s session. Tesla The results of a vote on Elon Musk’s multi-trillion dollar salary package could be available on Tuesday. That’s quite a change. Tesla stock has risen 50% in three months. Shares rose 4% on Wednesday to close at $462. Tesla is 5.4% off its December 18, 2024 high and is up 115% from its April 7 low. “Worldwide Exchange” with Frank Holland and “Squawk Box” with Becky Quick, Andrew Ross Sorkin and Joe Kernen await news. TSLA YTD Mountain Tesla Stock Year-to-date Airlines The S&P Airlines industry rose 6% today, marking its best performance of the day. It’s up 11.6% from its January high, but 57% from its April 8 low. Transportation Secretary Sean Duffy announced Wednesday afternoon that his office will reduce operating capacity at 40 major airports by 10% as air traffic controllers continue to go unpaid during what is currently the longest government shutdown in U.S. history. Squawk Box will meet with the president of the Aviation Safety Foundation on Thursday morning, along with key members of Congress, including Speaker of the House Mike Johnson. Southwest Airlines rose 6.6% on Wednesday, Delta Air Lines rose 5.2% and United Airlines rose 6.5%. Chipmaker hits new all-time high Lam Research hit a new all-time high today. Micron Technology hit a new high today. Both stocks went public in 1984, the same year Michael Jordan was drafted by the Chicago Bulls, Prince’s “When Doves Cry” became a top song, and Apple released the first Macintosh computer. The popular VanEck Semiconductor ETF (SMH) is up 3.5% from last week’s high. Year-to-date, it’s up 48%. elf Beauty Although the company missed sales expectations, profits exceeded expectations. The situation for Elf stock deteriorated significantly in after-hours trading. The stock price is down more than 21%. Including tonight’s drop, the stock price has fallen more than 30% in a month. ELF 1M Mountain Elf Beauty has shared over the past month. DoorDash Bulls were not trading this stock Wednesday night. The company missed profit expectations and its stock price plummeted. The stock is down about 9%, but it was even worse in early trading after the market closed. DoorDash is up 42% since the beginning of the year. Tariff talks with CNBC’s Tom Rotunno What we learned today: Shoe retailer Steve Madden reported before the bell on Wednesday that it missed third-quarter revenue estimates as tariffs negatively impacted wholesale revenue and gross margins. The company announced that adjusted gross profit as a percentage of wholesale revenue was 33.6%, compared to 35.5% in the third quarter of 2024 due to the impact of new tariffs. “Fortunately, while the negative impact of the tariffs will continue, we believe the worst is behind us,” CEO Edward Rosenfeld said at an earnings call. Steve Madden stock rose nearly 14% on Wednesday, its best day since May 12. The stock is up 96% since hitting a 52-week low on April 9, but remains down 12% since the beginning of the year. What we might learn tomorrow: Earnings from Ralph Lauren before the bell Thursday. The company raised its full-year sales forecast in August based on increased demand, but warned that tariffs could weigh on margins in the second half of the year. On the Aug. 7 earnings call, CFO Justin Piccic said tariffs were the company’s “biggest headwind,” and the cautious mood led to a 7% decline on the day of the earnings release. Stock prices have rebounded, with Ralph Lauren shares up 6% in the past three months and 37% year-to-date. The stock hit a 52-week high on October 24th. RL YTD Mountain Ralph Lauren stock price since the beginning of the year.
