Squawk on the Street

The “Squawk on the Street” team discusses the start to September. The S&P & Dow both notching their best August since the 1980s, as stocks post their biggest monthly gains since April. September has the worst track record for stocks and any pullback could be swift as investors keep a close eye on the election. White House Chief of Staff, Mark Meadows, joining the “Squawk on the Street” team to discuss the economy, COVID-19, and the 2020 election ahead. Tech shares jumping led higher by Apple and Tesla following their splits. Shares of Zoom soaring 40% after revenue more than quadrupled from last year. Plus, David’s continuing to add to the Tiffany, LVMH story as the deal continues to face hurdles. Sources telling him that LVMH, Tiffany received requests for additional items needed for EU antitrust approval and LVMH may file formal notification with the EU by early next week. And shares of Kodak surging, jumping 50% after D.E. Shaw discloses a 5.2% passive stake in the company. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The “Squawk on the Street” team discusses Wall Street’s best August in 30 years. The Dow kicking off the week with three new constituents, Salesforce, Amgen and Honeywell will be included, replacing longtime component Exxon Mobil, Pfizer and Raytheon Technologies. Plus two major stock splits taking effect this morning from Apple & Tesla. Plus, David’s exclusive reporting on Steve Cohen’s bid for the New York Mets. Sources telling David that Cohen and the Mets are expected to reach a definitive agreement in the coming days. News on the COVID-19 vaccine and treatment front, as the Commissioner of the FDA said in an interview with the Financial Times that he’s willing to consider granting emergency authorization for a vaccine before clinical trials have been completed. Plus, the FDA expanding its emergency us of Gilead’s Remdesivir. Plus, David’s reporting on AT&T, sources telling him the company is in talks with PE firms about purchasing DirecTV aiming for a deal to be signed by the end of the year. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, David Faber and Kelly Evans discuss the strong week for stocks as the Dow tries to erase its losses for 2020 & the S&P 500 eyes its best August since 1986. Plus Dell’s quarterly results top estimates amid continued cost controls and strong consumer PC demand, CEO Michael Dell forecasting that 50% or more could continue working remotely post COVID-19 pandemic. And David’s latest reporting on TikTok’s deal talks. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber digest comments from Federal Reserve Chairman Jerome Powell. The Fed Chair presenting at the virtual Jackson Hole summit and announcing a major policy shift to “average inflation targeting.” The central bank will be more inclined to allow inflation to run higher than the standard 2% target before hiking interest rates. The Fed also announcing its changing its approach to employment in a way that will focus on those at the lower end of the income spectrum. Investors appearing happy with what they heard from the Chairman of the Federal Reserve, as all three of the major averages rose on his comments. Plus, breaking news out of TikTok, as the CEO quits after sources say he was excluded from deal talks with Microsoft. Shares of Abbott Labs winning FDA approval for a rapid COVID-19 test that will be used by health professionals and medical labs. The portable test will cost $5 and can deliver results in 15 minutes. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber discuss the melt-up for stocks. The S&P 500 and the Nasdaq hitting record intraday highs. Shares of Salesforce.com surging after reporting earnings that more than doubled estimates. The company’s revenue also beating the street, and it raised its full year forecast as it benefits big from the increase in remote work and e-commerce. On the COVID-19 front, the C.D.C quietly modified its coronavirus testing guidelines to exclude people who do not have symptoms, even if they have been recently exposed to the virus. Palantir files to go public, while the company’s CEO rips into Silicon Valley in a letter to investors. The CEO saying Silicon Valley engineers may be able to build good software but they don’t know “how society should be organized or what justice requires.” Wedbush raising its price target on Apple to a new Street-high of $600 dollars per share. Plus, the CEO of Etsy, Josh Silverman, speaking out against Amazon’s support for a California bill seeking to hold “electronic retail marketplaces” to the same liability standards applied to brick-and-mortar retailers. Silverman calling the e-commerce giant out saying, “Amazon is taking bold steps to wipe out its competitors by promoting complex, hard-to-comply-with legislation that only they can afford to absorb. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer & David Faber discuss the pop in stocks, as the S&P 500 ekes out another record high. The U.S. and Chinese trade officials reaffirming their commitment to the Phase 1 trade deal. Plus, changes are coming to the DOW as Exxon Mobil, Pfizer and Raytheon Technologies will be removed, while Salesforce,com, Amgen and Honeywell will be added. The changes will take effect on August 31st. Plus, David’s reporting on Palantir’s expected S-1. According to his sources, they’re targeting listing on September 24th. And a Faber Report, as David digs through the Tiffany & LVMH deal, getting pushed until November 24th. According to his sources, LVMH’s Arnault still seeking price cut in the Tiffany deal. The “Squawk on the Street” team digs through the movers of the morning, including earnings from Best Buy & J.M. Smucker. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer, David Faber discuss the surge in stocks, building on a record-setting week. The latest coronavirus developments driving the moves in the major averages. The Trump administration granting emergency authorization for a coronavirus plasma treatment. The White House is also considering fast tracking the COVID-19 vaccine candidate being developed by AstraZeneca and Oxford University, according to the Financial Times. Shares of Apple getting a boost ahead of its “record date” for its recently announced four-for-one stock split, applying to shareholders of record as of the close of business today. Plus, Morgan Stanley’s Katy Huberty increasing her price target to a street high of $520, from $431. Democratic presidential nominee Joe Biden and his running mate Senator Kamala Harris sitting down for their first joint interview with ABC’s David Muir. Biden discussing his plans on the tax front saying, “I will raise taxes for anybody making over $400,000,” adding that there will be “no new taxes” for those making under $400,000. And airlines moving higher, as Delta announces it’s going to reinstate 50 international flights to its schedule this winter. Plus, a report that says American Airlines will receive EPA approval today to use a new surface coating that kills the coronavirus. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

“The Squawk on the Street” gang digs through the movers of the morning, as Wall Street tries to end a record setting week on a high note. Tesla remains on watch after exceeding $2,000 per share for the first time on Thursday. Shares of Tesla are up 40% for the month of August alone. Plus, today is the “record” date for the company’s 5-for-1 stock split. Uber and Lyft winning reprieve in California over its pay dispute. Plus, Democratic presidential nominee Joe Biden accepts his party’s nomination. In his speech he unveiled his economic plan, “my economic plan is all about jobs, dignity, respect, and community. Together, we can, and we will, rebuild our economy. And when we do, we'll not only build it back, we'll build it back better.” And some breaking news out of Amazon, as its consumer business head announces he plans to retire. The USPS virtual hearing gets underway, as the postmaster general testifies before the Senate over its operations. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla and Jim Cramer discuss the slump for stocks as U.S. weekly jobless claims jump, totally 1.106 million last week. Plus, yesterday’s Fed minutes revealing officials expect that coronavirus will “weigh heavily” on the economy. Carl & Jim dig through the movers of the morning. Nvidia reporting a beat on the top & bottom line also issuing a strong current quarter revenue outlook. Shares moving lower, as some investors were disappointed with the performance of Nvidia’s data center business. Intel announcing an accelerated $10 billion stock buyback program, with CEO Bob Swan saying the shares were trading “well below our intrinsic valuation.” Shares of Estee Lauder taking a big hit after reporting a wider than expected loss. The cosmetics company said it’s launching a 2-year initiative to rebalance its investments, which will include a reduction in its retail footprint and increase emphasis on its digital sales. Estee Lauder also plans to cut up to 2 thousand jobs globally. Plus, Airbnb confidentially files its IPO paperwork. And breaking news, as President Trump’s former advisor Steve Bannon is arrested on charges of defrauding hundreds of thousands of donors in an alleged fundraising scheme. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla and Jim Cramer discuss the end to the shortest bear market in S&P 500 history. Stocks getting a boost from blowout results from retailers Target & Lowes, both hitting record highs at the open. Target reported a monster quarter with profit jumping 80%, and same-store sales set a record. And Lowe’s also reported a blow-out quarter with a 30% surge in revenue. Southwest dropped an updated 8K outlook and financial results for July and August. The big takeaway, the company’s core cash burn decreased. And Oracle gets a nod of support from President Trump over a possible acquisition of TikTok. The President saying, “I think Oracle is a great company, and I think its owner is a tremendous guy. He's a tremendous person. I think that Oracle would be certainly somebody that could handle it. Yeah. We gave them until September 15th.” Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla & Jim Cramer discuss the state of stocks as the S&P 500 rises to a new record high all-time high that was set before the coronavirus pandemic hit. Two retail giants surging this morning giving the major averages that boost. Walmart earnings and revenue beating the street last quarter as same-store sales surged by 9.3% and its e-commerce sales nearly doubled. Home Depot said its sales last quarter jumped 23%, while its earnings and sales beat the street’s expectations. Treasury Secretary Mnuchin joining Carl and Jim to discuss COVID-19 Stimulus, the Postal Service problems, and Oracle in talks to acquire TikTok, in a challenge to Microsoft. And Amazon’s expansion plans. The company is looking to add 3,500 jobs across six U.S. cities. Of the new roles, 2,000 will be based in New York, where Amazon has acquired the Lord & Taylor Fifth Avenue building. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla and Jim Cramer discuss the market gains, as the S&P continues to creep toward a record high after railing to notch it last week. Goldman’s David Kostin boosting his S&P target by 20% raising his forecast to 3,600 from 3,000. The U.S. Postal Service is front and center as Democrats are calling for its chief to testify at an “urgent” Congressional hearing over elections concerns. House Speaker Nancy Pelosi says she’s calling the House back to vote on a bill that would prohibit the Postal Service from implementing nay changes to its operations or level of service. Plus, Carl & Jim go whale watching. Buffett’s Berkshire Hathaway making a new investment in Barrick Gold, while cutting its stakes in Wells Fargo, JPMorgan Chase, as well as completely exiting its investment in Goldman Sachs. Pershing Square’s Ackman increasing his stakes in Restaurant Brands and Lowe’s in the second quarter. Tepper loads up on new stakes in AT&T, Visa, PayPal, Disney and Mastercard. And Third Point takes stakes in Activision & Facebook. The President is continuing his push against Chinese tech companies, saying he’s considering a ban on Alibaba. And a report out of Reuters saying the U.S. is going to be tightening restrictions on Huawei’s access to technology & chips. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The “Squawk on the Street” team digests the market moves, little changed as the S&P 500 struggles to hit its record high. Plus, no stimulus deal, as the Senate departs Washington for its summer recess. And battle between apps and the app stores. Apple & Alphabet’s Google are being sued by Epic games, the developer of Fornite, after both removed it from their app store. The tech giants are claiming that Epic violated guidelines regarding in-app purchases to avoid fees. Speaking of Apple, the “Squawk on the Street” team is keeping a close eye on the stock price as it continues its march to a $2 trillion dollar market cap. Shares of Tesla continuing to charge higher after getting two upgrades, one from Bank of America and the other from Morgan Stanley’s Adam Jonas. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Jim Cramer and David Faber discussed the mixed market as traders digest better-than-expected unemployment data. Weekly jobless claims falling below estimates of 1.1 million. Shares of Cisco getting hammered. The company did beat the street, but revenue did decline from a year earlier and its guidance was softer than anticipated. National Economic Council Director Larry Kudlow joins Jim and David to discuss the economic outlook, jobless claims and a lot more. Plus, hear what Kudlow had to say about the administration’s tensions over TikTok. Jim and David dig through the other big movers of the day including Tesla, Micron, Tapestry and more. Plus, David details Thermo Fisher’s termination of its acquisition agreement with QIAGEN. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Jim Cramer and David Faber discuss the swings in the market. Stocks rebounding after the S&P 500 snapped a 7-day win streak. Plus, President Trump announcing a deal to buy 100 million doses of Moderna’s vaccine sending shares skyrocketing. The company says the deal with the government is worth $1.53 billion. Jim & David breakdown the big movers of the morning from Tesla’s 5-for-1 stock split, to Roku, Kodak, Overstock, Facebook and beyond. And remembering media mogul Sumner Redstone, who has died at the age of 97. Redstone built his family’s drive-in theater chain into a multibillion-dollar empire encompassing CBS & Viacom and later becoming the center of a jilted lover’s lawsuit that nearly cost his family his financial legacy. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Jim Cramer and David Faber discuss the boost in stocks as the S&P 500 closes in on a record high. Russia says it has approved a COVID-19 vaccine. President Putin saying, “as far as I know, this morning, for the first time in the world, a vaccine against a new coronavirus infection has been registered.” It’s important to note that no data has been published by the researchers and that it has only been injected into a few dozen people so far and that a Phase III trial is due to begin later this month. On the therapeutics front, BioNTech says its first trial results may come as early as October. Novavax says its manufacturing capacity will be sufficient to meet demand for its COVID-19 vaccine and it expects to begin a phase 3 trail as soon as late September. Plus, Inovio Pharmaceuticals announcing it expects its vaccine candidate to enter a mid-to-late stage study in September. Plus, news on the ride-hailing front as a California judge granted a preliminary injunction requiring Uber & Lyft to stop classifying their drivers as independent contractors pending further action by the court. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

David Faber and Jim Cramer discuss the hang up on Capitol Hill. President Trump signing executive orders over the weekend aimed at extending pandemic relief after Congress failed to reach a deal. The orders extending unemployment benefits, providing a payroll tax holiday, deferring student loan payments through 2020 and extending the federal moratorium on evictions. Treasury Secretary Mnuchin joining Jim and David to discuss the road ahead for getting a deal done on a stimulus bill, U.S. – China relations and much more. And breaking news out of McDonald’s as the company announces it’s suing its former CEO Steve Easterbrook for allegedly lying during the company’s internal probe into his behavior. Plus, the CEO of Barrick Gold on his company’s earnings and the all-time high prices of Gold. David and Jim also dig through the big movers of the morning including Kodak, MGM, and Amazon. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber discuss the President’s executive order over TikTok & WeChat. President Trump banning the apps from operating in 45 days if they are not sold by their Chinese-owned parent companies. TikTok fighting back, threatening legal action against the executive order saying, “This Executive Order risks undermining global businesses’ trust in the United States’ commitment to the rule of law, which has served as a magnet for investment and spurred decades of American economic growth.” And it’s the July jobs report. Payrolls increasing by nearly 1.8 million, while the unemployment rate fell to 10.2%. Both numbers topping expectations despite a resurgence of Covid-19 across the country. Plus, an exclusive interview with the CEO of Uber, after reporting a mixed quarter. The company reporting a greater than expected loss, but revenue was better than forecast. Demand for Uber’s ride-hailing service saw a halting recovery amid the COVID-19 pandemic, but the business for the company’s Uber Eats food delivery service more than doubled compared to a year earlier. The CEO joining the “Squawk on the Street” gang to discuss the results, the road ahead for the company and the tensions between the U.S. and China. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber discuss the stimulus plan, or lack thereof, speaking with both sides of the aisle. Senate Majority Leader McConnell and House Speaker Pelosi both explaining their position on getting a deal done. Listen in to hear why, Speaker Pelosi says “perhaps you mistook them for somebody who gives a damn.” Plus, why Majority Leader McConnell says he believes that the GOP & Dems will reach a virus relief deal in the “near future.” Carl, Jim & David also dig through the big movers of the morning. Airline stocks getting a boost after a dozen Republican senators backed $25 billion in additional federal aid for the airline industry, as the spike in Covid-19 cases in the U.S. derails a recovery in travel demand. Plus, the “Squawk on the Street” team digs through the massive earnings movers from ViacomCBS, Restaurant Brands, Bristol-Myers, Etsy and so many more. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber dig through the massive movers and deals of the morning. Teladoc and Livongo announcing they’re merging in a deal worth $18.5 billion. The CEO of Teladoc and the Executive Chairman of Livongo joining the “Squawk on the Street” team to discuss the deal and future of the newly combined company. A Faber Report to kick off the morning on Microsoft & TikTok. David’s sources telling him Microsoft & Bytedance hope to reach a deal in three weeks and the focus has been on a deadline to transfer software code. Shares of Disney surging after reporting results. The company revealing 100 million streaming subscribers and its plans to launch a new streaming service. Disney also announcing it’s highly anticipated ‘Mulan’ is finally heading to Disney+ for $29.99. Plus, shares of Nikola getting hammered after its first financial report since going public. The Executive Chairman of the company joining the show to discuss the road ahead and how pandemic-related supply-chain disruptions impacted the company. Volatility reins for shares of Novavax as the company’s coronavirus vaccine generates promising immune response in its early trail. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber start the morning with breaking news out of Ford. CEO Jim Hackett announces he’s retiring and handing over the reins to Jim Farley, Ford’s COO effective October 1st. Plus, the TikTok controversy continues, as Chinese state media slams the U.S. as a “rogue country” for its planned “smash and grab” of the company. Plus, President Trump says Microsoft should pay ‘key money’ to Treasury for facilitating TikTok deal. And BP cut its dividend in half, after the energy producer reported a $6.7 billion second quarter loss. Facebook announces it’s leasing all 730,000 square feet of office space in Vornado’s landmark Farley building in New York. Financial terms of the deal were not disclosed. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber weigh in on Microsoft, TikTok and the President. The tech giant confirming it will try to buy TikTok after CEO Satya Nadella spoke with President Trump. Microsoft said they’re committed to addressing Trump’s concerns about the social media platform. The “Squawk on the Street” team discusses the movers pushing the Nasdaq, as it hits a record high. Plus, familiar fault lines as a stimulus plan stalls. The White House and Democrats agreeing on $1,200 dollar checks, but they’re still deadlocked on unemployment assistance. Minneapolis Federal Reserve Bank President Kashkari suggests a 4-6 week shutdown. Telling CBS’ “Face the Nation,” "If we don't do that and we just have this raging virus spreading throughout the country with flare-ups and local lockdowns for the next year or two, which is entirely possible, we're going to see many, many more business bankruptcies… That's going to be a much slower recovery for all of us." Speaking of the Fed, its been 13 years since Cramer’s “They know nothing!” rant heard round the world. Plus, a massive breakdown of the companies on the move from Clorox, Marathon Petroleum, Eli Lilly, Alphabet, ADT and more. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber breakdown the blowout results from big tech. Apple posting a blowout third quarter, sales were up 11%, the tech giant also announcing a 4-for-1 stock split. Plus, hear what Apple CEO Tim Cook told Cramer. Amazon sales soaring, trouncing earnings expectations and reporting double-digit revenue growth year-over-year. Facebook beating the street, and telling investors the ad boycott is having an impact. And Alphabet falling after reporting its first revenue decline in the company’s history. The major averages muted as the busiest week of earnings season wraps up and the month comes to a close. Shares of Caterpillar taking a hit after beating the street, but sales tumbling 31% in the second quarter. Plus, questioning Kodak, David breaks down the big week for Kodak. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber discuss a tweet from the President, pushing stocks deeper in the red. President Trump suggesting delaying the election tweeting, “With Universal Mail-In Voting (not Absentee Voting, which is good), 2020 will be the most INACCURATE & FRAUDULENT Election in history. It will be a great embarrassment to the USA. Delay the Election until people can properly, securely and safely vote???” The U.S. economy saw its biggest slump in activity it has ever known in the second quarter. GDP from April to June plunged 32.9% the worst drop ever. Plus, the “Squawk on the Street” gang digs through the busiest day of earnings season from Qualcomm, UPS, P&G along with what’s coming after the bell Alphabet, Amazon, Facebook and Apple. Breaking news on the airline front, as 17 thousand Delta employees accept buyout offers. Plus, the CEO’s of ServiceNow & Yum! Brands on their company’s latest results and the impact of Covid-19 on their bottom lines. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber dig through a slew of earnings and speak with the CEOs. Stocks flat as investors focus their attention on corporate results and what’s happening today in Washington. Big Tech execs are preparing to testify before the House Antitrust Subcommittee over dominance of online platforms. Amazon’s Jeff Bezos, Apple’s Tim Cook, Facebook’s Mark Zuckerberg and Google’s Sundar Pichai will all appear. Also happening in Washington, the Federal Reserve is winding down its two-day policy meeting. Chairman Jay Powell is expected to reinforce that the Fed will do whatever it can to help the economy and labor market heal. Plus, it’s a CEO blitz. Carl, Jim and David are joined by the CEOs of Boeing, AMD, Starbucks and eBay. Hear what they’re all saying about their companies results, the impact from Covid-19 and the road ahead. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber discuss the earnings blitz and the big movers dragging down the major averages. McDonald’s reporting mixed results. Comparable restaurant sales were down 23.9% globally, but U.S. comparable sales were better than expected, falling 8.7% compared to estimates. The “Squawk on the Street” team also digging through results from Pfizer, 3M and Raytheon. The GOP unveiling its new coronavirus relief plan including wage replacement of 70% in extended unemployment benefits, replacing the $600 weekly enhancement. The new plan also includes another round of $1,200 stimulus checks and $500 payments for depends of any age. MLB commissioner Manfred says Marlins coronavirus outbreak is not a “nightmare” scenario. This following news that 13 members of the Marlins tested positive for coronavirus, which led to the postponement of their Monday game against the Orioles in Miami. Plus, breaking news, as the Fed extends its lending facility to December 31st. And the CEO of Lysol’s Parent Company joining “Squawk on the Street” to discuss his company’s results, partnership with Delta, and much more. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber discuss the big move in gold, as it hits a record high. The major averages in the green, moving higher to kick off a big week for earnings. Shares of Moderna skyrocketing, after the company said it has received an additional $472 million in government assistance for development of its COVID-19 vaccine candidate, and that a phase 3 study has now begun. Over the weekend, Treasury Secretary Steven Mnuchin saying that Republicans have finalized their latest piece of coronavirus relief legislation. The bill is worth about $1 trillion and is set be introduced Monday. Shares of Under Armour taking a hit after receiving a so-called “wells notice” from the SEC. That noticing giving details on charges it’s intending to bring to the company, related to a previously disclosed probe. The CEO of Walgreens announcing he’s stepping down from that role and will become the executive chair of the company. Plus, the CEO of Albertsons joining the “Squawk on the Street” gang to discuss his company’s earnings beat. Revenue was in line with Wall Street forecasts, while results were helped by a 26.5% jump in comparable store and digital sales. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The “Squawk on the Street” team discusses the continued selloff after yesterday’s losses. Tensions continuing to ramp up as China orders the closure of a U.S. consulate in Chengdu, a retaliation move after Washington shut the Chinese consulate in Houston earlier this week. Shares of Intel getting hammered after saying its next-generation chips will come out 6 months later than expected. The company did report earnings that were 12 cents above estimates, while its revenue also came in above forecasts. On the flip side, rival AMD, getting a boost because it already has a “7nm” chip on the market. Plus, Goldman Sachs reaching a $3.9 billion dollar settlement with the Malaysian government over its multi-billion dollar 1MDB scandal. The CEO of Verizon, Hans Vestberg, joins the “Squawk on the Street” team to discuss his company’s results after beating on both the top and bottom line. Vestberg also commenting on the negative impact from COVID-19, ad spending revenues and the road ahead. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber dig through the big earnings mover of the morning. Tesla popping after the company scored a 4th straight quarter of profit. Twitter reporting a 34% jump in monetizable daily active users compared to a year ago. Microsoft moving lower, despite beat analyst expectations on earnings and revenue. The CEO of Southwest joins the “Squawk on the Street” team to discuss his company’s results, the future of the airline industry and getting people back in the air again. Hear his take on the pandemic and how it’s impacting consumer habits, plus his push for the government to mandate masks. Plus, in his first interview since taking over as CEO, AT&T’s John Stankey joins the show to discuss the road ahead for the company after reporting results. The company’s earnings beat, while revenue was in line with forecasts. Hear what he had to say about how the pandemic impacted results across all of AT&T’s businesses. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber discuss the move in stocks as U.S.-China tensions take center stage. The State Department ordering China to close its consulate in Houston, Texas. China’s foreign ministry spokesperson condemning the action and warning of firm countermeasures if the U.S. does not reverse its decision. Pfizer and the government striking a deal in which the company would provide 100 million doses of a COVID-19 vaccine being developed with partner BioNTech, with an option for the government to acquire an additional 500 million doses. The vaccine would be free for Americans. Breaking news, as Slack files an EU competition complaint against Microsoft. Spotify striking a licensing deal with Universal Music Group sending shares skyrocketing. Plus, the CEO of Liberty Media joins David to discuss the return of the MLB, podcasting and more. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber discuss the surge in the major averages, getting a boost from the morning’s earnings movers. IBM reporting better-than-expected second-quarter earnings. Shares of Coca-Cola moving higher after announcing its profit fell 33% in the second quarter, but expressed optimism on over demand as lockdown measurers are lifted. Plus, David’s exclusive reporting on eBay agreeing to sell its classified-ads business to Adevinta for $9.2 billion in cash and stock. Breaking news out of Washington as House Speaker Pelosi says she wants to see a stimulus bill by the “end of next week.” Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla and Jim Cramer discuss the surge in coronavirus cases across the U.S. A busy data morning on possible vaccines as Pfizer-BioNTech’s potential coronavirus vaccine shows promise after releasing additional data. Plus, Oxford University’s coronavirus vaccine with AstraZeneca showing positive immune responses in its early trial. Shares of Moderna in focus after J.P. Morgan downgraded the drug maker’s stock to “neutral” from “overweight” in a valuation call, given the stock’s nearly fivefold gain year-to-date. Facebook CEO Zuckerberg says he has no deal with President Trump in an interview with Axios. Zuckerberg saying, "I’ve heard this speculation, too, so let me be clear: There's no deal of any kind… Actually, the whole idea of a deal is pretty ridiculous. I do speak with the president from time to time, just like I spoke with our last president and political leaders around the world.” Plus, Chevron CEO Michael Wirth, joins Jim and Carl to discuss his company’s $5 billion dollar deal with Noble Energy. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber discuss the U.S. shattering its daily record for coronavirus infections, reporting more than 77,000 new cases. Florida, South Carolina and Texas all reporting their biggest one-day spikes. Plus, the mask mandate debating is heating up, as the Governor of Georgia sues the Mayor of Atlanta. And investors turning their attention to corporate earnings. Netflix delivered stronger than expected Q2 subscriber growth of over 10M, but lower than expected earnings and its forecast of the addition of 2.5M subs in Q3, half analysts’ forecasts, sent shares plummeting. The streaming giant also announcing Ted Sarandos as Co-CEO, joining Reed Hastings at the top. Facebook CEO Mark Zuckerberg interviewing Dr. Anthony Fauci. Zuckerberg making rare comments, saying he’s been disappointed with President Trump’s handling of Covid-19. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber discuss the slump for stocks. Investors assessing earnings results and the latest economic data. Weekly jobless claims came in slightly worse than expected, while retail sales jumped 7.5% in June. Shares of Morgan Stanley higher after earnings and revenue beat the street. The bank also saw net revenue and net income rise to record levels, getting a boost by strong trading results. The CEO of Morgan Stanley, James Gorman, joining the “Squawk on the Street” team to discuss its latest results, the road ahead for the bank and how they’re planning to return to work in the age of Covid-19. Plus, the CEO of Lysol parent company, Reckitt Benckiser, on his EPA product approval and how they’re upping production. Shares of Twitter taking a hit after a massive, high-profile, hack. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber discuss the surge in stocks. Markets getting a boost from blowout results from Goldman Sachs and Moderna’s vaccine news. Goldman Sachs crushing earnings estimates its biggest outperformance in nearly a decade. Revenue was more than $3.5 billion higher than the street was expecting, fueled by strong results in its trading and investment banking divisions. On the coronavirus front, shares of Moderna skyrocketing after saying its vaccine produced a “robust” immune response, or neutralizing antibodies, in all of its 45 patients in its early stage human trial. Other stocks tied to reopening, American Airlines, United, Royal Caribbean all popped on the news. And Apple getting a boost, as Needham increases its price target for the tech giant to $450, from $350. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber discuss results from the big banks, as JPMorgan Chase, Wells Fargo and Citigroup all report before-the-bell. JPMorgan shares jumping after record trading revenue drives stronger-than-expected second quarter profit. Wells Fargo reports $2.4 billion for the quarter, slashing its dividend to 10 cents. And Citi shares rising after reporting better-than-expected earnings on strong trading results. Elon Musk says “Wow” after Piper Sandler’s bullish Tesla report, raising its price target to a street high of $2,322. Airline stocks getting hammered after Delta reported a $5.7 billion dollar net loss for the second quarter, its biggest since 2008. The company also announcing it’s pulling back plans to expand flying in August. Amazon is rolling out grocery carts that are going to let shoppers skip checkout lines, bag their groceries and walk out. The “Dash Carts” will roll out at Amazon’s new Los Angeles-area grocery store slated to open in 2020. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber discuss a higher start to the week for stocks, as earnings season gets underway. Two experimental coronavirus vaccines being developed by BioNTech and Pfizer have received a ‘fast track’ designation from the FDA. Spikes of covid-19 continuing across the U.S. as Florida reports more than 15 thousand new cases, shattering its record. Amid the surge, Florida’s Walt Disney World opened to the public for the first time in four months. Critics began to pile on after the company’s official “Disney Parks Job” accounted posted a short video promoting the big event on Twitter and Instagram. The CEO of Analog Devices joining the “Squawk on the Street” team after announcing it would buy rival Maxim Integrated Products for about $21 billion in the largest U.S. deal this year. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The “Squawk on the Street” team discuss the market turn as stocks cut their losses. Gilead publishing new data on its antiviral drug remdesivir showing it reduced the risk of death for severely sick coronavirus patients by 62% compared with standard care alone. Goldman raises its Netflix target to the highest on the street, saying the stock could surge by more than 30% over the next year and is set to report a blowout second quarter. Plus, despite a surge in cases in Florida, Disney moves forward with its reopening plans. And the “Squawk on the Street” gang breaks down presumptive Democratic nominee Biden’s ‘Buy American’ economic plan, as President Trump calls it plagiarism. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The “Squawk on the Street” team discusses the mixed picture for stocks, but the Nasdaq continues its rise hitting a fresh record high. U.S. initial unemployment claims edging down in the latest week, better than expected at 1.3 million. More pain for retailers, as Bed Bath & Beyond announces it’s closing 200 stores over 2 years as its sales fall almost 50% during the pandemic. Plus, Sur La Table files for bankruptcy protection and Pier 1 is becoming a web-only business. A report says that TikTok is considering changes in order to distance itself from its Chinese roots. Senior executives are said to be discussing options such as creating a new management board or establishing a new headquarters for the app outside of China. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The “Squawk on the Street” team takes a look at the market, charging higher as investors ignore the latest Covid-19 data. The U.S. reporting a record daily spike of more than 60,000 coronavirus cases as the total number of confirmed cases tops 3 million. Pain for retailers, Brooks Brothers filing for bankruptcy as it seeks a buyer and closes dozens of stores. Plus, Harvard and MIT are suing the Trump Administration over an international-student policy that forbids those students from staying in the U.S. if the classes are taught entirely online. The President taking to Twitter, threatening to cut funding for schools, slamming the CDC reopening guidelines as too tough and expensive. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The “Squawk on the Street” team discuss the drop in stocks following Monday’s strong rally, as Covid-19 cases across the U.S. continue to surge. Atlanta Fed President Raphael Bostic telling the FT that the U.S. economic recovery will be “bumpier” as coronavirus cases continue to rise. Shares of Novavax skyrocketing, 45%, after winning a $1.6 billion dollar contract to develop a coronavirus vaccine. It’s the largest amount yet granted under the White House’s “Operation Warp Speed.” Uber CEO, Dara Khosrowshahi, joins the “Squawk on the Street” gang to discuss his acquisition of Postmates, its failed deal with Grubhub and future of the company. Plus, The Faber Report: David digs into Corelogic’s rejection of Cannae Holdings & Senator Investment Groups takeover bid. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The “Squawk on the Street” team digests the big swing for stocks as Wall Street looks to build on last week’s gains. Investors shrugging off record coronavirus cases in Florida & Texas. Goldman Sachs cutting its GDP outlook and says a pause in consumer activity in July & August should limit the expected Q3 growth rebound. Goldman’s forecast now implies a 4.6% GDP contraction in 2020 versus a 4.2% prior, on a full-year basis. Dealmaking boosting sentiment as Billionaire investor Warren Buffett’s Berkshire Hathaway buys the natural gas transmission and storage assets from Dominion Energy for about $10 billion including debt. Plus, shares of Uber surging after announcing its buying food-delivery app Postmates in an all-stock deal worth $2.65 billion. Plus, the “Squawk on the Street” team discuss Tesla’s Elon Musk mocking of short sellers, now selling actual silk shorts on his website for $69.420. JPM securities raising its price target for Tesla to a Street-high of $1500 per share from $1,050. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Listen to the final episode of CNBC's special report about the Coronavirus outbreak, the treatment and diagnosis of Covid-19 and the impact it’s having on the economy, business and your money. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber discuss the blowout record jobs gain in June, stocks surging on the news. The U.S. economy adding 4.8 million nonfarm payrolls and the unemployment rate falling to 11.1%. New coronavirus cases in the U.S. hitting a single-day record, rising above 50,000 for the first time. Plus, Cramer weighs in on if now is the time to sell the airlines. American, Frontier, Hawaiian, Sky West and Spirit all signing a loan pact with the Treasury Department. The CEO of McCormick joining the “Squawk on the Street” gang to discuss how his company is benefiting from more consumers cooking at home, board diversity, and advertising on Facebook. President Trump gives a briefing at the White House on the June jobs report. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Listen to CNBC's special report about the Coronavirus outbreak, the treatment and diagnosis of Covid-19 and the impact it’s having on the economy, business and your money. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer & David Faber discuss the big swing in stocks after a Covid-19 vaccine from Pfizer and BioNTech shows positive results. Pfizer saying the vaccine was generally well-tolerated, though the experimental vaccine also caused fever in some patients, especially those who were in the 100 microgram group. More tough news for the airlines as United says demand is flattening. Reports Facebook CEO Zuckerberg has agreed to meet with organizers of the protests, that has resulted in major companies pulling their social media ads. Plus, shares of FedEx on pace for its best day ever after reporting earnings well above what the street had anticipated and revenue also beat. The company says its results were affected by Covid-19, but that it’s well positioned to benefit from reopenings across the globe. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Listen to CNBC's special report about the Coronavirus outbreak, the treatment and diagnosis of Covid-19 and the impact it’s having on the economy, business and your money. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer & David Faber breakdown the last trading day of the month, quarter and half as Wall Street wraps up its best quarterly performance in decades. The U.S. didn’t make the list of “Safe” countries released by the EU, as cases in the United States continues to skyrocket. Uber actively pursuing a deal in the delivery space after engaging unsuccessfully with Grubhub last month. Reports the company is now in discussions to buy food delivery service Postmates for $2.6 billion. Plus, shares of Micron jumping following the company’s better-than-expected earnings. The CEO, Sanjay Mehrotra, joining the “Squawk on the Street” gang to discuss the results and road ahead in the era of Covid-19. Plus, Lululemon being at-home fitness company Mirror for $500 million, as demand for at home gyms surge during the pandemic. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Listen to CNBC's special report about the Coronavirus outbreak, the treatment and diagnosis of Covid-19 and the impact it’s having on the economy, business and your money. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber discuss the move in the major averages, higher to start the week, as investors shrugging off a surge in coronavirus cases across the United States. Health & Human Services Secretary Alex Azar warning Sunday that the “window is closing” to curb the spread of the virus and get the outbreak under control. Confirmed cases across the globe topping 10 million, with global deaths passing half a million. Plus, Gilead announcing its coronavirus treatment Remdesivir’s price tag. It will cost $3,120 per U.S. patient with private insurance. Major advertising fallout for Facebook. Over the weekend, Starbucks, Coca-Cola, Diageo and Hershey’s all announced they’re pausing social media ads in the latest action against hate speech on platforms like Facebook and Twitter. Plus, a pioneer in the U.S. shale revolution, Chesapeake Energy, filing for bankruptcy protection. The company announcing $7 billion in debt will be wiped out through its restructuring. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.