Watch This Standout Media And Tech Play, Ulta And These Mining Stocks In Tomorrow’s Trading - Free Websites, Share News And Posts Publicly

THU, MAY 25, 2023

Tomorrow’s Top CNBC Stories Tonight

Ulta Beauty sinks after quarterly results

Several notable retailers reporting after the bell, including Ulta Beauty. The stock was down more than 8% in the extended session despite beating earnings and revenue estimates, though just slightly. The company reaffirmed its EPS guidance, but it was still slightly below estimates. Part of the reason behind the sell-off could have been excitement generated by recent strength in other cosmetics players. e.l.f. Beauty hit an all-time high and posted its best session ever today, after the company smashed earnings estimates and gave strong guidance. It’s up 370% in the past year.

MetLife shares claw their way higher

MetLife gained 5% today on a reinsurance deal with Global Atlantic. The stock move was a step in the right direction for the insurer, which hit its lowest level since February 2021 earlier in May. MetLife is still tracking for its third monthly decline in four. It’s one of the worst performers in insurers this year, down 27% compared with the iShares U.S. Insurance ETF (IAK)’s 8% decline. It’s underperforming IAK constituents of similar sizes: Arthur J. Gallagher & Co. is up 8% year to date, while Travelers is down 7% and AIG is off by 15%.

Weekly and monthly losses ahead for two media giants

Warner Bros. Discovery and Paramount Global are tracking for weekly declines, and it extends a bout of weakness for both. Warner Bros. is down nearly 19% in May, which would be its worst month since June 2022. Paramount is off by a whopping 40% this month and hit its lowest level since April 2020 today. Their larger rivals are also on pace for monthly declines, with Comcast down 5.5% and Disney off by 14%. Netflix, on the other hand, is heading for its best month since January.
Disclosure: Comcast owns NBCUniversal, the parent company of CNBC.

Metal and mining stocks on track for losing weeks

Metal and mining stocks were mixed today, but they’re largely tracking for weekly drops. Large names like Freeport-McMoRan and Newmont are both off by more than 5% heading into Friday. Other decliners include Cleveland-Cliffs, Alcoa, Nucor and Steel Dynamics. The SPDR S&P Metals & Mining ETF (XME) is on pace for its fourth-straight month decline, which would be its longest monthly losing streak since 2017.