
Squawk on the Street
3,131 episodes — Page 54 of 63
SPAC-Down Coming?, ViacomCBS Crushed, Nike’s Social Backlash, Big Tech on the Hill
David Faber and Jim Cramer discuss the stocks making the biggest moves of the morning. Shares of ViacomCBS falling again this morning after closing down 23% the previous day. Investors are continuing to react to a new stock sale and questioning the ability of the company to execute successfully on its streaming strategy. ViacomCBS also getting a downgrade over at MoffettNathanson. Plus, a possible spac-down is coming. Reports that the SEC is opening an inquiry into Wall Street’s blank check acquisition frenzy and is seeking information on how underwriters are managing the risks involved. Shares of Nike falling, the target of criticism on Chinese social media for a statement in which the company said it was “concerned” about reports of forced labor in Xinjiang. Nike also saying it doesn’t source products from the region. Plus, big tech CEOs facing questions before a House panel over online disinformation. The CEOs of Facebook, Twitter and Alphabet all set to testify. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
“Intel Is Back,” GameStop Divergence, Exclusive: Adobe CEO, Breaking Testimony Released from Tech CEOs Ahead of Hearing
David Faber and Jim Cramer get straight to the big movers of the morning. Shares of Intel higher after the company announced it’s spending $20 billion to build two major chip plants in Arizona. The company’s new CEO, Pat Gelsinger, saying “Intel is back. The old Intel is now the new Intel.” Gelsinger also announcing a shift in strategy, a new division called Intel Foundry Services that taps into one of the biggest trends in the world of semis. Plus, shares of GameStop getting pummeled after reporting results, missing analyst expectations. The company didn’t address the Reddit-fueled trading frenzy on its call, and skipped Q&A all together. The CEO of Adobe, Shantanu Narayen, joining David and Jim exclusively to discuss the company’s latest quarter, NFTs and a lot more. Plus, testimony released from Tech CEOs Dorsey, Zuckerberg, and Pichai ahead of tomorrow’s hearing on social media misinformation. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
One-Year Bull Market Anniversary, AstraZeneca Roller Coaster, Combating Wokplace Malaise: Citi’s Zoom Free Fridays, Goldman CEO Address Junior Bankers’ Complaints
David Faber and Jim Cramer discuss the slump in stocks on the one-year bull market anniversary. Treasury yields ebbing lower following prepared remarks from Federal Reserve Chairman Powell for a congressional hearing this afternoon. Powell warning, “The recovery has progressed more quickly than generally expected and looks to be strengthening. But the recovery is far from complete, so, at the Fed, we will continue to provide the economy the support that it needs for as long as it takes.” AstraZeneca falling in a rare statement released just hours after the company announced positive results from its late-stage U.S. trials, an independent monitoring board told U.S. health officials that the drug maker may have given incomplete efficacy data from its COVID-19 vaccine trial. A junior banker survey goes viral at Goldman Sachs, CEO David Solomon addressed the complaints. Plus, Citigroup’s new CEO Jane Fraser barring internal video calls on Fridays and encouraging vacations in a big effort to combat work from home malaise. David and Jim dig through the big movers of the morning. ViacomCBS shares getting slammed after the company said it will raise $3 billion from stock offerings, following a recent runup in its stock price. The media company will sell $2 billion in class B common shares and $1 billion in mandatory convertible preferred shares. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
Declining Bond Yields Boost Tech, Tesla Shares Pop & Mega Rail Deal
Jim Cramer and David Faber discuss the tech bounceback – leading the Nasdaq and S&P 500 higher amid falling Treasury Yields. Shares of Apple, Facebook & Microsoft all gaining more than 1% in morning trading. Plus shares of Tesla rallying more than 4% as Cathie Wood’s Ark Invest puts out a new price target on the stock which calls for it to quadruple in four years. And Morgan Brennan joins for First On CNBC interview with Canadian Pacific Railway CEO Keith Creel, the company acquiring Kansas City Southern, in a deal which would create the first U.S.-Mexico-Canada rail network. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
Bank Stocks Pull Markets Lower on Fed News, The Tech Stock Slide: How High Will Bond Yields Go?, Earnings: FedEx And Nike Shares Head In Opposite Directions, And The NFL's 11-Year Media Agreement Includes An Amazon Exclusive
Carl Quintanilla, Jim Cramer and David Faber led off the show reacting to breaking news that sent financial stocks lower and bond yields higher: The Fed announced it will not renew pandemic-era capital relief for banks. Jim says interest rates need to stabilize to end the slide for big tech stocks such as Microsoft. This as more Wall Street firms weigh in on whether the 10-year note yield will surpass two percent by the end of the year. Earnings news also in the spotlight: FedEx up sharply after beating estimates, while Nike shares take a hit as shipping delays impact its results. The anchors also took a look at the NFL's new eleven-year media agreement which includes Amazon getting exclusive rights to stream Thursday night football games. Also in focus: Tense talks between the U.S. and China, Barclays upgrades Ford to “overweight” citing the automaker’s electric vehicle strategy, The one-year rebound and rally in cruise stocks and what it would take for the cruise lines to ramp up trips as vaccinations accelerate, SPACs getting hurt, Chubb's unsolicited bid to acquire insurance rival Hartford Financial, and a survey that shows Goldman Sachs junior investment bankers are suffering burnout. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
"Stages Of Grief" For Big Tech As Rates Rise, Fed Chair Powell's Message On Inflation, Where The Money's Going Now, A Lift for Lyft, And Hollywood Swinging: AMC Ramps Up Movie Theater Reopenings
The Morning after the Dow surpassed 33,000 for the first time, Carl Quintanilla, Jim Cramer and David Faber led off the show with a look at the rising 10-year note yield as inflation fears extend losses in the tech sector. Jim explains why Microsoft, Apple and Amazon are among the big tech names experiencing "stages of grief" -- and how money is rotating into names such as Caterpillar. The anchors reacted to Fed Chair Jerome Powell's comments from yesterday on inflation and supply bottlenecks -- he said "one-time increases in prices are likely to have only transient effects on inflation." They looked at what rising energy prices could mean for companies such as 3M. Also in focus: Lyft announcing year-over-year growth in ridesharing volume, AMC Theatres ramping up reopenings in the U.S. and what AT&T CEO John Stankey told David about the theatrical window compared to three years ago, winners and losers in retail including an earnings miss for Dollar General, and Citi's upbeat note about Intel and its new CEO Pat Gelsinger. An extra: How Powell, Ben Bernanke and Janet Yellen are being used to give "Rickrolling" a whole new meaning. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
Tech Sector Slump And The Rising Rates Effect, Countdown To Fed Chair Powell's Remarks, Amazon's Telehealth Expansion, And The EV Boom: Lucid Motors CEO's Message About Apple
Carl Quintanilla, Jim Cramer and David Faber led off the program with a look at the linkage between a slump in tech stocks and a rise in bond yields, plus the economic boom versus supply shortages and the resulting inflation. A big question the anchors explored: What will Fed Chair Jerome Powell say about inflation and rising rates at his news conference -- and after the central bank releases its policy statement? Jim also took a deep dive into why younger investors don't take bond yields into account while buying stocks. Amazon announcing it will be rolling out its "Amazon Care" telehealth service in all 50 states this summer for its own workers -- and for other employers. Electric vehicles also in the spotlight: The anchors reacted to what Lucid Motors CEO Peter Rawlinson told Jim about how the company stands to benefit from its SPAC deal -- and how Lucid welcomes competition from the likes of Apple. Also in focus: What's next for the airline sector as discount carrier Sun Country goes public, BofA’s eye-opening note on Bitcoin, Uber granting drivers in the UK worker status, and why shares of Plug Power have recently slumped after soaring more than 1000% over the past twelve months. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
S&P 500 Hits Record High One Year After COVID-Fueled Market Crash, A Street-High Call For Apple, Feeling "Lucid" about EVs, And An Exclusive With The Chairman Of Oxycontin Maker Purdue Pharma
Carl Quintanilla, Jim Cramer and David Faber took a closer look at the reopening trade including airline and cruise stocks on a day in which the S&P 500 hit a new all-time intraday high. They also discussed Evercore ISI raising its price target on Apple to a street-high $175 per share. SPACs and electric vehicle maker Lucid motors also in focus, including David's encounter with the company's CEO. In an exclusive, David interviewed the chairman of Oxycontin maker Purdue Pharma about the company's bankruptcy reorganization plan and multi-billion dollar opioid settlement. The anchors looked back at the COVID-fueled market crash which occurred one year ago on March 16, 2020. On that date the Dow plunged by almost 3,000 points -- with the S&P 500 and Nasdaq each tumbling by twelve percent. You'll hear what Jim Cramer said on that date about the crash. Also in focus: What United Airlines CEO Scott Kirby told CNBC about the travel outlook as COVID vaccinations ramp up, Moderna's COVID vaccine trials involving children, AstraZeneca facing challenges as multiple European countries suspend use of its vaccine on blood clot concerns, and what AMD CEO Lisa Su told Jim about meeting demand in wake of the chip shortage. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
Stocks' Historic Run, Positioning For A Recovery, Airline Sector Heads Skyward, Elon Musk As "Technoking", And A New Milestone For Cramer
Carl Quintanilla, Jim Cramer and David Faber kicked off a new market week with the Dow, S&P 500 and Russell 2000 heading into the trading session at record highs. The anchors discussed sector rotation in the markets as investors try to position themselves for a recovery, SPACs coming off a positive week, plus an upbeat morning for airline stocks: The Transportation Safety Administration said airport screening levels are now at one-year highs. Separately, Southwest said passenger demand is continuing to improve this month. Tesla also in the spotlight after its regulatory filing noting that "the titles of Elon Musk and Zach Kirkhorn have changed to Technoking of Tesla and Master of Coin, respectively..." and that they will maintain their respective positions as CEO and CFO. David revisited last week's interviews with the CEOs of Verizon, AT&T and T-Mobile about the record-breaking 5G auction. Also in focus: Eli Lilly shares tumbling on news regarding its Alzheimer's drug, European countries suspending the use of AstraZeneca's COVID-19 vaccine, President Biden reportedly planning the first major federal tax hike since 1993, Treasury Secretary Yellen's comments on calls for a wealth tax, and Jim Cramer's "Mad Money" celebrates its 16th anniversary. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
Market Records And Tech Turbulence, The Competition Takes On Tesla, An Exclusive With AT&T's CEO, And The Bank Stocks Rally Rolls On
Carl Quintanilla, David Faber and Mike Santoli led off the show with a look at what's next for stocks one day after the Dow and S&P 500 hit new record highs. Tech stocks erasing many of the gains from Thursday's rally as bond yields rise. Will the surge in yields be short-lived? The anchors also discussed the markets pricing in the acceleration of growth. How much of an economic rebound will we see as millions more become fully vaccinated? President Biden announced he is directing states to make all adults eligible to receive a COVID-19 vaccine by May 1. Carl, David and Mike also explored Tesla facing heightened competition as more companies enter the electric vehicle space. David had an exclusive interview with AT&T CEO John Stankey. They discussed the company's "Investor Day," AT&T's more than $27-billion investment in C-Band spectrum licenses and the road ahead for its HBO Max streaming service. Also in focus: This year's bank stocks rally, comments from Goldman Sachs CEO David Solomon on work-from-home versus returning to the office, a Citi Apple analyst's note on the Apple Car, plus another IPO coming to market - The CEO of residential and commercial pool manufacturer Hayward Holdings appeared on the program to discuss his company's public debut. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
New Record For The Dow, Nasdaq Rallies, The Pandemic Anniversary & Pfizer's COVID Vaccine, And Verizon CEO On The Company's $53-Billion Bet
On the first anniversary of the World Health Organization declaring the COVID-19 outbreak a pandemic, Carl Quintanilla, David Faber and Mike Santoli took an in-depth look at another record day for the Dow, plus a rally for the Nasdaq as yields stabilize one day after the House passed the $1.9-trillion COVID relief package -- and Pfizer and BioNTech said data from Israel suggests that their COVID-19 vaccine is 94% effective in preventing asymptomatic infections. The anchors reacted to what Pfizer CEO Albert Bourla told CNBC about the importance of getting the first vaccine available. They also discussed Dr. Anthony Fauci's recollection of the first time he received groundbreaking news about Pfizer's vaccine "in his own words." Verizon CEO Hans Vestberg also joined the program the morning after his company's investor meeting to discuss 5G, the streaming landscape and why Verizon spent $53-billion on C-Band spectrum. Also in focus: Roblox's second day of trading on Wall Street and what's pressuring shares of General Electric. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
Tame Inflation, Dow Hits a Record, GE CEO Larry Culp on AerCap Deal, “Meme Stocks” Surging
Carl Quintanilla, David Faber and Leslie Picker discuss the big move for stocks, as the Dow sets a new intraday record high. Data out Wednesday morning showing tame inflation, easing worries about rising prices that have jolted yields. Plus, GE merging its aircraft leasing unit with rival AerCap in a $30 billion deal. David speaks with GE CEO, Larry Culp on the deal and much more. A report out of Japan’s Nikkei says Apple is going to be cutting its iPhone production orders for the first half this year by 20%, focusing in on the iPhone Mini. Roblox preparing to go public on the New York Stock Exchange through a direct listing. The exchange setting a reference price for the video game platform at $45 per share. “Meme stocks” moving higher, Gamestop, AMC and Koss all surging. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
Nasdaq Surge, Airlines Rally, Vaccine Effectiveness Against New Variants, One Year Later
The “Squawk on the Street” team discusses the big swing higher for stocks. Big moves for the tech-heavy Nasdaq, as giants Apple, Amazon, Microsoft, Netflix and Alphabet all gain at lease 2%. Tesla popping, after falling for 5 straight sessions and losing 21% over that span. And the airlines extending their rally in hopes of a big post-pandemic rebound. The “Squawk on the Street” team speaks with a top Cowen analyst about the road ahead for the airlines, travel and more. Tanger Outlets hammered after Goldman Sachs downgraded the stock to sell from neutral. More positive news on the vaccine front. The Pfizer – BioNTech vaccine appears to be highly effective against a more contagious variant of the virus first discovered in Brazil. Plus, a close look at bank stocks which have rallied big since their pandemic low back in March of Last Year. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
Flipping the Script, Market Swings, Senate Stimulus Approval, David Digs Through the Deals
The “Squawk on the Street” team discusses the mixed market. The Dow changing course after bullish comments from hedge fund manager David Tepper. Tepper writing in to CNBC that a, “combination of stimulus and low Japanese bond yields positive for U.S. stocks.” That “selling of U.S. Treasury’s is likely over” and “stocks like Amazon look attractive.” The Senate passing that $1.9 trillion dollar Covid relief bill. President Biden says people will start getting stimulus checks this month. Oil in focus again, as Brent crude breaks $70 after Saudi Arabia’s oil facilities were attacked by Yemen’s Houthis. Plus, a busy morning for deals, David digs through the big movers. General Electric nearing a $30 billion deal to merge its aircraft leasing business with AerCap Holdings. Apollo Global gains following news that it will merge with Athene Holding in an all-stock transaction valuing Athene at about $11 billion. And McAfee, surging on news it sold its enterprise business to privately held Symphony Technology Group for $4 billion in cash. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
Mixed Market, Jobs Blowout, SPAC-Tacular, NEC Director Brian Deese
Carl Quintanilla, Jim Cramer and David Faber discuss the massive swings in the market. High-flying tech names taking a hit. Stocks swinging between gains and losses after a stronger-than-expected jobs report. The labor department reporting that nonfarm payrolls jumped by 379,000 for February and the unemployment rate fell to 6.2%. David Faber’s SPAC wrap for the week. He takes a look at the SPAC boom and if we may be nearing a bubble. CoStar dropping its bid to buy real estate data company CoreLogic, saying rising interest rates will hurt CoreLogic’s value. Plus, Carl, Jim and David dig through the big movers of the morning from Gap to Western Digital. And, reaction from the administration on today’s jobs report. National Economic Council Director, Brian Deese, joining Carl, Jim and David to discuss the jobs report and the 2021 economic outlook. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
Stock Swings, Amazon and the NFL, ‘Buzz’ Launch, Square Acquires Majority of Jay-Z’s Streaming Service Tidal
Carl Quintanilla, Jim Cramer and David Faber discuss the swing for stocks. Markets bouncing between gains and losses as investors digest a better-than-expected read on weekly jobless claims. The “Squawk on the Street” gang discusses the big movers of the morning including shares of GE gaining after Morgan Stanley raised its price target on the stock to a Street-high of $17 per share. Rocket Companies shares moving between gains and losses, following wide swings the past few days. The stock fell 33% yesterday after jumping 71% the day prior. An ETF honing in on the Reddit mania, ‘Buzz’ ETF, which tracks social media sentiment, launches. Plus, Carl, Jim and David discuss the future of streaming rights after reports that Amazon is in talks with the National Football League to carry a significant number of games exclusively on its Prime video service. The deal could see Amazon pay $1 billion for exclusive rights to most Thursday games. Plus, Square announces it’s acquiring a majority stake in Jay-Z’s streaming service tidal in a $297 million deal. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
Rocket’s Reddit Volatility, Vaccine Boom, Big Business Betting on ESG
Carl Quintanilla, Jim Cramer and David Faber breakdown the mixed morning for markets. Reddit traders honing in on their next pick, Rocket. That stock more than doubling over the past 3 sessions, but falling this morning over 10%. Plus, a vaccine boom in the U.S. President Biden announcing the U.S. will have enough vaccines for 300 million adults by the end of May, two months sooner than previously promised. Big business is betting on ESG, as FedEx commits to carbon-neutral operations by 2024 and ExxonMobil kicks off investor day focusing on its newly created business, ExxonMobil Low Carbon Solutions. Oscar Health getting ready to debut on the NYSE, after pricing above the already-raised range. Carl, Jim and David discuss breaking news, as Apollo Global announces it’s buying crafts retailer Michaels in a $5 billion deal. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
Mega Market Rally Hits Pause, Merk Helping J&J, Zooming Higher, Target’s Record Growth, SPAC-Mentum
Carl Quintanilla, Jim Cramer and David Faber discuss the pause in stocks, after a mega market rally where the S&P 500 notched its best day since June. More developments on vaccine distribution. Reports that President Biden is set to announce the administration-brokered a ‘historic partnership’ between Merck and J&J. Merck will be dedicating two facilities in the U.S. to the vaccine effort, which could potentially double the supply compared with what J&J would be able to achieve on its own. Plus, the “Squawk on the Street” gang discussing the big movers of the morning. Zoom shares surging after the company beat expectations and issued strong guidance. Target reporting results that beat on both the top and bottom lines. Comparable store sales jumped 20%, while digital sales more than doubled. It’s SPAC-mentum. A new note out of Goldman Sachs digs through the eye popping number of SPACs and how much they have raised. Goldman’s David Kostin writing, “if the current pace of issuance persists, 2021 will surpass the 2020 full-year total before the end of March.” Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
March Begins In Rally Mode, J&J Starts Shipping Its COVID-19 Vaccine, ExxonMobil Board Shakeup, Buffett Admits To A “Mistake”, And Citi's New CEO Makes History
On the first trading day of March, Carl Quintanilla, Jim Cramer and David Faber took an in-depth look at a big stock market rally to begin the month as bond yields pulled back. Johnson & Johnson also in the spotlight as the company began shipping its one-shot COVID-19 vaccine, which received regulatory approval for emergency use in the U.S. The anchors reacted to what J&J Chairman & CEO Alex Gorsky had to say about how many doses could be delivered in the U.S. by June. ExxonMobil shares rise on news that David broke: Activist investor Jeffrey Ubben and Atairos CEO Michael Angelakis have joined the oil giant's Board of Directors. Also in focus: Warren Buffett admits to a "mistake" in his annual letter to Berkshire Hathaway shareholders, and Jane Fraser takes over as CEO of Citigroup -- becoming the first woman to run a major U.S. bank. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
Morning After The Sell-off, Reaction To Salesforce And Airbnb Results, FDA Meets About J&J's COVID Vaccine, GameStop Marches Higher, And HP CEO On Beating The Street
On the final trading day of February, Carl Quintanilla, Jim Cramer and David Faber explored what to expect from stocks after Thursday's sell-off was sparked by concerns about higher yields. They also dug deep into earnings news from the likes of Salesforce and Airbnb and reacted to what the CEOs of both companies told CNBC. Johnson & Johnson's one-shot COVID-19 vaccine also in focus as a key FDA panel meets on whether to recommend it for earlier use. The anchors also weighed in on what Pfizer CEO Albert Bourla told NBC News' Lester Holt about how long it might take to tweak its vaccine to account for COVID variants. The GameStop saga rolls on: The stock continuing its surge for the week as it caps a rough February during the Reddit-fueled trading frenzy. HP CEO Enrique Lores joined the program to discuss his company's strong quarterly results and upbeat guidance -- as sales of laptops jump in wake of pandemic-driven work-from-home trends. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
GameStop's Ride Gets Wilder, The Reddit User Rally Reheats, Twitter Takes Flight, Nvidia And The Chip Supply Shortage, And Restaurateur Danny Meyer Takes His Company's SPAC Public
Carl Quintanilla, Jim Cramer and David Faber led off the show with an in-depth look at the GameStop frenzy -- the stock surging after it doubled late in Wednesday's trading session. Reddit-fueled stocks such as AMC Entertainment also jump. The anchors get into what investors should make of the wild ride -- as well as an ice cream cone tweet by major GameStop shareholder Ryan Cohen. They also discussed Twitter's long-term guidance which gave the stock a boost, Nvidia's quarterly results and the chip supply shortage, and ViacomCBS' streaming strategy for "Paramount+". Shake Shack Founder and Union Square Hospitality Group CEO Danny Meyer joined the program to talk about taking USHG's SPAC public. Also in focus: A double dose of news involving Pfizer's COVID-19 vaccine. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
Cathie Wood's "Tesla Effect”, Barstool's Portnoy vs. Robinhood's CEO, Square's Bitcoin Bet, The FDA's J&J COVID Vaccine Assessment, And Marriott's New CEO Talks Travel And The Pandemic
Carl Quintanilla, Jim Cramer and David Faber discussed fund manager Cathie Wood buying into Tesla's recent sell-off – news that sent the stock higher – and that her fund also experienced major outflows. The anchors dig deep into her investment strategy. They also reacted to the clash between Barstool Sports CEO Dave Portnoy and Robinhood CEO Vlad Tenev over the GameStop saga. Johnson & Johnson in the spotlight after FDA staff found the company's one-dose COVID-19 vaccine to be safe and effective, putting it one step closer to receiving approval for emergency use. Marriott International's new CEO Tony Capuano joined the program to discuss the future for his company and the travel industry amid the pandemic as COVID vaccinations increase. Also in focus: Square’s $170-million Bitcoin purchase, plus what to expect from a White House meeting on the global chip shortage. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
The CEO Of Tesla Rival "Lucid Motors" On Going Public Via A SPAC Deal, Tesla And Bitcoin Extend Slide, The Tech Sell-Off Intensifies, And Fed Chair Powell On The Hill
Carl Quintanilla, Jim Cramer and David Faber discussed big M&A news: Electric vehicle maker Lucid Motors confirmed it is going public via a merger with Churchill Capital IV -- a SPAC deal that will bring about $4.5-billion in cash to the company's balance sheet. Lucid Motors CEO Peter Rawlinson appeared on the program to discuss the deal as well as his views on Lucid's competition including Tesla. This as shares of Tesla extended Monday's losses and participated in another day of steep selling in the tech sector. The anchors also looked ahead to Fed Chair Powell's Capitol Hill testimony on the economy as well as the potential effect of the COVID vaccination rollout on stocks. Also in focus: Bitcoin falling further below the $50,000 mark, earnings from Home Depot and Macy's, plus an interview with Medtronic CEO Geoffrey Martha on the company's quarterly results and where the pandemic fits into the picture. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
Boeing Drags Down The Dow On Jet Engine Failure, A Detour For Bitcoin's Record Run, And Jeff Immelt Reflects On His Tenure As GE CEO
Carl Quintanilla, Jim Cramer and David Faber discussed Boeing shares down sharply after an engine failure on one of United Airlines' Boeing 777 jets, resulting in the FAA ordering inspections of some of the jets and United grounding a number of them. The anchors also explored the rotation into value and what passage of a $1.9-trillion COVID relief package could mean for certain stocks. David interviewed former General Electric CEO Jeff Immelt, who discussed his tenure as head of GE -- a period in which the stock tumbled significantly. Also in focus: Bitcoin pulls back from all-time highs after Elon Musk tweeted that prices for the cryptocurrency "seem high". Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
Squawk on the Street 02/19/21
The opening hour of CNBC’s "Squawk on the Street" with Carl Quintanilla, Jim Cramer and David Faber is broadcast each weekday from the floor of the New York Stock Exchange, on site at the opening bell with the up-to-the-minute news investors need to know and interviews with the most influential CEOs and greatest market minds. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
GameStop Hearing on the Hill, Deep Freeze, Walmart Worries, Pfizer Vaccine & the South African Virus Variant, Analog Devices CEO on Chip Demand
The “Squawk on the Street” team discusses what can be expected during the GameStop hearing today on Capitol Hill. The House Financial Services Committee is convening at noon to hear from the major players of the story. Set to testify this afternoon, Robinhood CEO Vlad Tenev, Melvin Capital CEO Gabriel Plotkin, Reddit CEO and co-founder Steve Huffman, Citadel CEO Kenneth Griffin and Keith Gill, also known as Roaring Kitty. Plus, keeping a close eye on the deep freeze in Texas that’s going on day 6. The weather has shut about one-fifth of the nation’s refining capacity and closed oil and nat gas production across the state. Oil prices are continuing to rise on fears the freeze could continue for some time. Shares of Walmart falling on an earnings miss. The retailer saying it sees sales growth slowing in the year ahead. A bright side for the big-box retailer? Its e-commerce sales in the U.S. grew by 69% and same-store sales in the U.S. grew by nearly 9%. New thoughts on the South African virus variant that’s continuing to spread. A lab study suggests that the variant may reduce antibody protection from the Pfizer/BioNTech vaccine by two-thirds, and it’s not clear if the shot will be effective against the mutation, the companies said Wednesday. Plus, the “Squawk on the Street” team is joined by the CEO of Analog Devices on the chip supply chain and his company’s results. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
Squawk on the Street 02/17/21
The opening hour of CNBC’s "Squawk on the Street" with Carl Quintanilla, Jim Cramer and David Faber is broadcast each weekday from the floor of the New York Stock Exchange, on site at the opening bell with the up-to-the-minute news investors need to know and interviews with the most influential CEOs and greatest market minds. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
Stocks Hit Record Highs, Millions Without Power, Crypto Craze: Bitcoin Passes $50,000
The “Squawk on the Street” team discusses the market rally, as stocks continue to build on strong February gains. Energy prices jumping as severe weather hits the south. More than 4 million people were without power in Texas as of Tuesday morning, according to poweroutage.u.s. Plus, the bitcoin craze continues, the cryptocurrency crossing $50,000 for the first time ever. The “Squawk on the Street” team digs through some of the big movers of the morning from CVS to Palantir. Plus, David reports on CoStar making a new competing bid for CoreLogic at $95.76 a share. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
Disney Delights, Vaccines Could Be “Game Changer,” The Push into EVs
Carl, Jim and David breakdown the big movers of the morning. Disney delights investors after reporting a big boost in streaming subscribers. Theme park attendance slumped, but was expected due to COVID. Disney CEO Bob Chapek addressed the future of theme parks saying vaccines could be a quote “game changer.” Plus, the crypto craze. Carl, Jim and David discuss why PayPal’s CEO, Dan Schulman told Jim he’s unlikely to invest in cryptocurrencies. Plus, the “Squawk on the Street” gang discuss the EVs outlook, as Morgan Stanley’s Adam Jonas initiates overweight coverage on QuantumScape & Fisker. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
Next Chapter For The Reddit-Fueled Pot Stock Rally, Bitcoin's Record High And Effect On Payment Stocks, And IPOs: Bumble's Date With Wall Street
Carl Quintanilla, Jim Cramer and David Faber discussed the volatility in cannabis stocks one day after they soared as part of the Reddit trading frenzy. They also took a closer look at Bitcoin's record high and payments stocks after Mastercard announced it is preparing to support cryptocurrencies directly on its network this year. Bumble's IPO also in the spotlight: What to expect from the dating service's public debut. Also in focus: Another record high for the Dow, Uber's quarterly results, the latest on SPACs, and the COVID vaccine rollout: Jim talks about receiving a second shot. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
New Records For Stocks, Twitter & Coca-Cola Among Earnings Winners, Cisco CEO Exclusive, And Cannabis Joins The Reddit Frenzy
Carl Quintanilla, Jim Cramer and David Faber discussed the stock market setting new record highs one day after the Dow and S&P 500 snapped six-session win streaks. Earnings from the likes of Twitter and Coca-Cola contributed to positive sentiment. In an exclusive, Cisco Chairman & CEO Chuck Robbins joined the program to talk about his company's quarterly results that weighed on the stock -- and where work-from-home trends fit into Cisco's future. Also in focus: Cannabis shares soaring due to the Reddit-fueled frenzy, plus the latest companies to go public via SPAC deals, and new developments involving the potential sale of TikTok. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
Rallies From Stocks To Oil, The Short Squeeze Effect On The Markets, COVID Vaccines & Restaurants, GameStop's Frenzy: The Videogame Twist, And The Battle Of The EV Stocks
Carl Quintanilla, Jim Cramer and David Faber discussed what's next for stocks with the major indices at record levels -- including reaction to a note out of Citi in which analysts say the short squeeze is seen lifting the S&P 500 further. They also took a closer look at oil prices at 13-month highs, and followed up on the volatility in shares of GameStop and where videogame publishers such as Take-Two Interactive and Electronic Arts fit into the picture. On the COVID front, the vaccine rollout continues as New York Governor Cuomo announces New York City restaurants can resume indoor dining on Friday. Also in focus: General Motors extending production cuts because of a chip shortage, plus SPAC deals and what CEOs of electric vehicle makers are saying about the future for their industry. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
Markets Making History, GameStop’s Volatility, COVID Vaccinations And Stimulus Watch, Tesla’s Bitcoin Buy, And Super Bowl TV Ads Reaction
Carl Quintanilla, Jim Cramer and David Faber discussed another record-setting day for stocks: The Dow, S&P 500 and Nasdaq hitting all-time intraday highs. The Reddit-fueled frenzy and market volatility remain in the spotlight after GameStop shares plummeted last week. Yields rise on optimism surrounding the $1.9-trillion COVID relief package, as well as the vaccination rollout. Also in focus: Tesla disclosing in an SEC Filing that it has bought $1.5-billion worth of Bitcoin, new developments regarding SPAC deals, plus reaction to Super Bowl television ads from the likes of General Motors and Reddit. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
Market Records And Volatility, GameStop Soars, White House Reacts To The January Jobs Report, And COVID Vaccines: J&J Seeks Emergency Authorization From The FDA
On a record-setting day for the S&P 500 and the Nasdaq, Carl Quintanilla, Jim Cramer and David Faber discussed market volatility and the Reddit-fueled trading frenzy, with GameStop soaring and recouping some of its steep losses for the week. They also reacted to the January jobs report and explored how soon COVID vaccinations could spur an economic recovery. This as Johnson & Johnson requests emergency use authorization from the FDA for its one-dose vaccine. Council of Economic Advisers member Jared Bernstein joined the program with White House reaction to the jobs data -- outlining the case for passing President Biden's $1.9-trillion COVID relief package. The CEO of luxury electric vehicle startup Lucid Motors also appeared on the show to talk about his company's prospects amid heightened competition -- with Apple as a potential rival. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
Apple Closer To A Car Deal, Merck CEO To Step Down, And Treasury Secretary Yellen & GameStop Volatility
Carl Quintanilla, Jim Cramer and David Faber led off the show with a story broken by CNBC's Phil LeBeau: Apple is close to finalizing a deal with Hyundai-Kia to manufacture an Apple-branded autonomous electric vehicle. The anchors also discussed the legacy of Merck's Ken Frazier, who is stepping down as CEO after a decade on the job. Frazier will take on the role of executive chairman. The Reddit-fueled frenzy remains on Wall Street's radar: What to expect from Treasury Secretary Yellen's meeting with top financial regulators about the volatility driven by retail trading in GameStop, AMC Entertainment and other stocks. Also in focus: eBay's better-than-expected results and outlook, plus a SPAC backed by Sir Richard Branson taking 23andMe public in a $3.5-billion deal. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
Bezos To Step Down As Amazon CEO, Upbeat Results From Amazon And Alphabet, GameStop's Volatility, The Frenzy And The View From Reddit's CEO
Carl Quintanilla, Jim Cramer and David Faber took an in-depth look at the future for Amazon after Jeff Bezos announced he is stepping down as CEO of the company. Amazon Web Services chief Andy Jassy has been chosen to succeed him in the top job. Bezos will become executive chairman. Carl, Jim and David also discussed blowout earnings from Amazon and Google parent Alphabet. GameStop and the Reddit-fueled frenzy remain in the spotlight: Treasury Secretary Yellen plans to meet with top financial regulators this week, and the anchors reacted to what the CEO of Reddit told Kara Swisher during a New York Times podcast. Also in focus: More earnings winners and losers -- plus M&A news, with Jazz Pharmaceuticals agreeing to buy GW Pharma for $7.2-billion in cash and stock. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
GameStop Tumbles Again, An Exclusive With The CEOs Of Uber And Drizly, And The Market Rally Gains Steam
Carl Quintanilla, Jim Cramer and David Faber led off the show with latest chapter in the Reddit-fueled market frenzy: GameStop shares plummeting for a second straight day after tumbling more than 30-percent on Monday. AMC Entertainment and the silver trade also taking a hit. Uber has agreed to buy alcohol delivery app Drizly in a stock and cash deal valued at $1.1-billion. The CEOs of both companies appeared on the program exclusively to discuss their deal. Also in focus: Major averages rally after the S&P 500's best one-day performance since November, Pfizer, Exxon Mobil and UPS lead the earnings parade, what to expect from Amazon and Alphabet's quarterly results, and SPAC deals continuing to gain momentum. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
Reddit-Fueled Market Frenzy: GameStop Volatile While Silver Surges, Who’s Jumping On The SPAC Bandwagon, And A New Trading Month
Carl Quintanilla, Jim Cramer and David Faber led off the first show of February with the latest on GameStop’s wild ride and the short squeeze sparked by Reddit users, who are now fueling a rally in silver, silver stocks and ETFs. This comes as Robinhood continues trading limits and cuts down its list of restricted stocks. The anchors reacted to Goldman Sachs comparing this short squeeze to those over the past 25 years, as well as Senator Elizabeth Warren saying the GameStop frenzy shows that Wall Street is “a rigged game." Also in focus: What to expect from stocks this month -- plus new SPAC deals, including Tilman Fertitta taking Landry's and Golden Nugget public. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
The Reddit User Rally: GameStop Soars, Robinhood Resumes Trades ... And The SEC Says It Is Reviewing The Volatility
Carl Quintanilla, David Faber and Morgan Brennan kicked off the program by delving into the Reddit user rally: The wild ride continues as shares of GameStop, AMC Entertainment and other names soar after Robinhood lifted some trading restrictions following a backlash from users. The anchors also reacted to comments Robinhood CEO Vlad Tenev made to CNBC, as well as a statement from the SEC saying it is reviewing the recent trading volatility that has led to the meteoric rise of various stocks. Jim Cramer called into the program to offer his perspective on the GameStop frenzy. Also in focus: Earnings and market movers as January comes to a close. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
GameStop-Reddit Mania: The Long And Short of It -- Plus Reaction To Apple, Facebook And Tesla Earnings
Carl Quintanilla, David Faber and Jon Fortt took an in-depth look at the Reddit effect that's fueling the surge in stocks such as GameStop and squeezing institutional short sellers. Shares of American Airlines joining the wild ride after the carrier posted a quarterly loss. The anchors reacted to what Reddit Co-Founder Alexis Ohanian told CNBC about the frenzy. Robinhood and Interactive Brokers each announcing a restriction in trading of GameStop and other volatile stocks. Earnings from Apple, Facebook and Tesla also in focus. The CEOs of Southwest Airlines and ServiceNow joined the program to discuss their companies' quarterly results and where the pandemic fits into the picture. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
Squawk on the Street 01/27/21
The opening hour of CNBC’s "Squawk on the Street" with Carl Quintanilla, Jim Cramer and David Faber is broadcast each weekday from the floor of the New York Stock Exchange, on site at the opening bell with the up-to-the-minute news investors need to know and interviews with the most influential CEOs and greatest market minds. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
Earnings Barrage And Market Reaction, Raytheon CEO On Quarterly Beat, And GameStop's Hot Run Squeezes The Shorts
With the busiest week of earnings season picking up speed, Carl Quintanilla, Jim Cramer and David Faber broke down market reaction to a slew of quarterly reports including results from Johnson & Johnson, 3M, Verizon and General Electric. Raytheon Technologies CEO Greg Hayes joined the program to discuss what drove his company's better-than-expected quarter. The anchors also took a closer look at GameStop's wild ride, continuing stock surge and the $91-billion squeeze it's putting on short sellers. Also in focus: The Elon Musk tweet that gave Etsy shares a boost. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
Froth In The Market, GameStop Won't Stop, The SPAC Frenzy, And Moderna Surges On COVID Vaccine News
Carl Quintanilla, Jim Cramer and David Faber led off the show by discussing what to make of the surge in stocks such as short-seller target GameStop, which has more than doubled in one week. The SPAC boom also in focus as deals continue to flood into the market. The anchors reacted to what former Goldman Sachs Chairman & CEO Lloyd Blankfein told CNBC about the SPAC phenomenon. Lots of news on COVID-19 vaccines in the spotlight, including Moderna saying its vaccine is shown to work against emerging variants of the coronavirus. Carl, Jim and David also weighed in on the upcoming Super Bowl and the Tom Brady versus Patrick Mahomes effect on TV ratings and ads. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
The "I's" Don't Have It: Intel And IBM Slump, Biden's Stimulus Pitch, Yellen & Tax Hikes, And More SPAC Deals
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The Biden Presidency Begins With A New COVID Vaccine Strategy, GM's New Year Rally, Amazon's Vaccine Overture, And The SPAC Boom Heats Up
The morning after President Biden's inauguration, Carl Quintanilla, Jim Cramer and David Faber discussed what's ahead for stocks and the economy, as Wall Street pays close attention to developments surrounding the new president's strategy for ramping up COVID-19 vaccinations. The anchors reacted to Dr. Anthony Fauci's remarks on the U.S. remaining a member of the World Health Organization and joining a global vaccine alliance. They also took a closer look at United Airlines, whose CEO Scott Kirby told CNBC he has "real confidence in the long term" with pent-up demand for travel in wake of the pandemic. Also in focus: General Motors becoming the S&P 500's top-performing stock so far this year, Amazon offering to help the Biden Administration distribute the COVID vaccine nationally, earnings winners and losers, and the latest news involving the SPAC boom. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
Special Edition: Inauguration Day For Joe Biden
On a special edition of "Squawk on the Street", Carl Quintanilla, Jim Cramer and David Faber spent the hour focusing on what to expect from Joe Biden after he is sworn in as the 46th President of the United States. They explored what he hopes to achieve in the first 100 days of his presidency, the Biden economic team's recovery strategy in wake of the pandemic and what it all means for the markets. The anchors also discussed the big stock market news of the day: Shares of Netflix soaring on news that it surpassed the 200 million subscriber mark during the fourth quarter. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
Bank Earnings Parade Continues, Yellen Heads To The Hill, And Inauguration Eve: The Biden Agenda
Carl Quintanilla, Jim Cramer and David Faber kicked off a holiday-shortened market week with a look at earnings from Bank of America and Goldman Sachs. They explored what the markets are likely to expect from the confirmation hearing for Treasury Secretary nominee Janet Yellen -- especially when it comes to her message on stimulus. With Wednesday's presidential inauguration in focus, the anchors discussed the Biden agenda, including the push for 100 million COVID vaccinations in the first 100 days of Biden’s presidency, and reports that he is expected to cancel the Keystone XL pipeline permit. Among the big movers: General Motors surging on news that Microsoft is entering a strategic partnership with the automaker’s majority-owned autonomous car unit. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
Big Banks Launch Earnings Season, Biden's $1.9T "American Rescue Plan", And A Stellar Week For IPOs
Carl Quintanilla, Jim Cramer and David Faber led off the program with a closer look at big banks kicking off earnings season: Quarterly results out from JPMorgan Chase, Citigroup and Wells Fargo. The anchors also discussed President-elect Biden's $1.9-trillion COVID relief plan and what it could mean for struggling Americans, businesses and the markets. Also in focus: Mobile gaming company Playtika going public with the biggest IPO of 2021 so far -- capping a week in which Affirm and Poshmark shares more than doubled in their respective debuts, while Petco jumped more than 60-percent in its return to the public markets. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
Post-Impeachment Markets, Biden COVID Relief Watch, Cramer Gets The Vaccine, Twitter CEO on Banning Trump, And Petco CEO On IPO
One day after the House impeached President Trump for a second time, Carl Quintanilla, Jim Cramer and David Faber took a closer look at the market's upward momentum: The Dow hitting a fresh record high as Wall Street awaits President-elect Biden's COVID relief plan. The anchors also discussed developments surrounding the COVID-19 vaccine: Early data on Johnson & Johnson's one-shot coronavirus vaccine, Jim speaks about his experience receiving the vaccine, and BlackRock CEO Larry Fink tells CNBC how soon he believes herd immunity could boost the economy. On the IPO front, The CEO of Petco appeared on the program to discuss his company's return to the public market for the first time in more than a decade. Carl, Jim and David also reacted to Twitter CEO Jack Dorsey's tweets about banning President Trump from his company's platform. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
Intel CEO To Step Down, Impeachment Vote Watch, Big Tech vs. Parler, And J&J's COVID-19 Vaccine Production Picture
Carl Quintanilla, Jim Cramer and David Faber discussed in-depth the big news that David broke: Bob Swan is stepping down as CEO of Intel after nearly two years on the job. He will be succeeded next month by VMWare CEO Patrick Gelsinger. Intel shares surging on that news. The anchors explored what the CEO change could mean for both Intel and the semiconductor industry. They also harkened back to when Swan told CNBC that he didn't want the CEO job. Also in focus: The House of Representatives preparing to vote on impeaching President Trump for a second time, Amazon responds to Parler's lawsuit as the big tech/social media/free speech battle heats up, Johnson & Johnson's COVID-19 vaccine production falling behind schedule according to a report, Target reporting upbeat holiday sales, and fintech company Affirm's IPO. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.