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 looking at Thursday and what they’re looking at for Friday’s session. Tesla Votes were counted this evening, and shareholders approved a pay package that would give Elon Musk $1 trillion if the company hits several metrics. Tesla stock closed down 3.5% on Thursday. It is 8.7% from the December 2024 high. The stock price has increased nearly 40% in the past three months. To earn that multi-trillion dollar salary, Musk would need to increase Tesla’s market cap to $8.5 trillion. It currently stands at just under $1.5 trillion. He also must deliver 20 million Teslas, 1 million robotaxis, and 1 million humanoid robots. Prediction market makers already have contracts in place. As of tonight, about 53% say they will reach the $1 trillion level by 2029, and 58% say they will reach it by 2030. We are paying attention. Oracle CNBC’s Seema Mody takes a closer look at Oracle on Friday. The stock has been declining very steadily and is currently down nearly 30% from its September 10th high. Modi reports on what is happening with companies and stocks and what has to happen to right the ship. ORCL YTD Mountain Oracle’s stock price from the beginning of the year to the present. Volatility As CNBC’s Morgan Brennan pointed out on Thursday’s “Closing Bell: Overtime,” the S&P did not fall more than 1% between Aug. 1 and Oct. 10. It has now fallen twice in the last five trades. On Thursday, the S&P 500 fell 1.12%. It has fallen 2.5% since October 29th. The CBOE Volatility Index is up 15% in one week. CNBC auto and aviation reporter Phil LeBeau will interview American Airlines CEO Robert Isom on “Squawk Box” Friday with Becky Quick, Andrew Ross Sorkin and Joe Kernen. As the federal government shutdown enters its 38th day, the airline, like other airlines, is trying to come to terms with new schedule realities after the Federal Aviation Administration cut flights by 10% at 40 of the nation’s largest airports. Shares fell 2% on Thursday. That’s 31% from January’s high, but it’s up 11% in one month. Nasdaq The Nasdaq Composite and Nasdaq 100 are both up 4% from their October 29 highs. The Nasdaq Composite Index is expected to renew its third consecutive week of gains. This could be the worst week for the Nasdaq since April 4, when it fell 10%. .IXIC Past Month Nasdaq 1M Mountain The Great American Consumer Four major companies hit new lows on Thursday: Chipotle, Conagra, Clorox, and Procter & Gamble. (Thanks to data team guru Chris Hayes for the stats and facts.) Chipotle is back to its March 2023 lows. The stock price fell 27% in one month. Conagra has returned to its December 2010 lows. The stock price has fallen about 11% in one month. Clorox is back to its August 2015 lows. The stock price fell 10% in one month. Procter & Gamble is back to its December 2023 lows. The stock price fell 3% in one month. KKR reported before the bell Friday morning. The stock has fallen 17% since its last report three months ago. KKR is up 30% from its January 31st high. Wendy’s is down 12% since its last report three months ago. Stock prices have fallen 57% in one year…where’s the beef? Eli Lilly Eli Lilly CEO David Ricks joins “Squawk Box” Friday morning. President Donald Trump on Thursday announced agreements with Eli Lilly and Novo Nordisk to reduce the price of weight loss drugs in the United States. Lilly shares rose 1.3%. The stock is just off the 52-week high it hit this week. Tariff Talk with Tom Rotunno What we learned today: Tapestry reported earnings this morning, beating Wall Street’s quarterly profit and revenue expectations, and posting double-digit sales growth in North America. The company also raised its full-year forecast. Still, stocks sold off on concerns about the outlook for holiday destinations. The company has warned of serious tariff issues. The parent company of luxury brands such as Kate Spade and Coach cited “tariffs and tariffs” as a 230 basis point headwind to fiscal 2026 gross profit, with an estimated total impact of $170 million. In an interview with CNBC’s Sarah Eisen and Carl Quintanilla on “Squawk on the Streets” on Thursday, CEO Joan Crevoisella remained optimistic, saying, “We believe we can fully ease tariffs after FY27 and gross margins will start to increase.” Despite today’s 9.6% decline, Tapestry stock remains the best-performing S&P consumer discretionary stock year-to-date, up 51%. What we might learn tomorrow: Construction company Fluor makes money Friday morning. CEO Jim Breuer said in his last report in August that the company “continues to see an increasing number of customers taking a wait-and-see attitude,” citing tariffs and trade uncertainty as one of the reasons for the clouded outlook, and “in some cases we’ve seen project cancellations or postponements.” Previously weak earnings reports and lowered guidance led to Fluor’s worst single-day percentage decline of 27%. The stock has increased 1.5% over the past three months and is down 9.6% year-to-date. But some see the company as a potential beneficiary from building an AI data infrastructure. Of the 11 analysts covering the stock, five say it’s a buy and six say it’s a hold, according to FactSet. The average price target is $49.88, implying 10.5% upside. FLR YTD Mountain Fruit inventory from the beginning of the year to date
