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 on Wednesday and what’s on the radar for Thursday’s session. Tesla We could get vote results on Elon Musk ‘s trillion dollar pay package on Thuesday. That’s a good chunk of change. Tesla shares are up 50% in three months. The stock closed at $462 on Wednesday, up 4%. Tesla is 5.4% away from its Dec. 18, 2024 high and is up 115% since its April 7 low. “Worldwide Exchange” with Frank Holland and “Squawk Box” with Becky Quick, Andrew Ross Sorkin and Joe Kernen are standing by for news. TSLA YTD mountain Tesla stock year to date Airlines The S & P airlines industry was up 6% today, the top performing industry of the day. It is 11.6% from its January high, but up 57% from its April 8 low. Transportation Secretary Sean Duffy announced Wednesday afternoon that his agency will cut flight capacity at 40 major airports by 10% as air traffic controllers continue to miss paychecks due to the government shutdown, which is now the longest in U.S. history. “Squawk Box” will speak with the head of the Foundation for Aviation Safety Thursday morning along with key lawmakers including Speaker of the House Mike Johnson. Southwest was up 6.6% on Wednesday, Delta Air Lines was up 5.2% and United Airlines was up 6.5%. Chipmakers hit highs Lam Research hit a new all-time high today. Micron Technology hit a new all-time high today. Both stocks listed in 1984, the same year Michael Jordan was drafted by the Chicago Bulls, Prince’s “When Doves Cry” was the top song, and Apple released the first Macintosh computer. The popular VanEck Semiconductor ETF (SMH) is 3.5% from last week’s high. It is up 48% year to date. e.l.f. Beauty The company missed revenue estimates , but beat on earnings. Things got really ugly for e.l.f shares in after-hours trading. Shares are down more than 21%. Including tonight’s drop, the stock is down more than 30% in a month. ELF 1M mountain E.l.f. Beauty shares over the past month. Doordash The bulls aren’t delivering for this stock Wednesday night. The company missed earnings estimates and the stock tanked. Shares are down about 9%, but it was worse earlier in the after-market session. Doordash is up 42% so far this year. Tariff talk with CNBC’s Tom Rotunno What we learned today: Shoe retailer Steve Madden reported before the bell Wednesday and missed third-quarter revenue estimates as tariffs hurt its wholesale revenue and gross profit margins. The company said adjusted gross profit as a percentage of wholesale revenue was 33.6%, compared with 35.5% in the third quarter of 2024, due to the impact of new tariffs. CEO Edward Rosenfeld struck a hopeful tone on the earnings call saying: “Fortunately, while we will continue to see negative impact from tariffs, we believe the worst is behind us.” Steve Madden shares gained nearly 14% on Wednesday, its best day since May 12. It’s gained 96% since hitting a 52-week low on April 9, but remains down 12% year to date. What we may learn tomorrow: Thursday before the bell we’ll get earnings from Ralph Lauren . The company raised its annual revenue forecast in August based on higher demand but it warned tariffs could potentially put pressure on its margins in the back half of the year. On the Aug. 7 earnings call, CFO Justin Picicci called tariffs the company’s “biggest headwind” and the cautious sentiment led to a 7% sell-off on the day of the earnings release. The stock has rebounded with Ralph Lauren shares up 6% in the last three months, and 37% year to date. The stock hit a 52-week high on Oct. 24. RL YTD mountain Ralph Lauren shares year to date.
What’s likely to move the market in the next trading session
