Carl Quintanilla, Jim Cramer and David Faber explored the challenges facing Southwest Airlines: More than 2,000 flights canceled since the beginning of the past weekend, staff shortages and air traffic control issues in the mix, along with Texas Governor Greg Abbott announcing a ban on COVID vaccine mandates in his state -- though Southwest disputes the idea that cancellations are due to employees protesting such a mandate. Southwest Chairman & CEO Gary Kelly appeared on the program and faced tough questions from the anchors on these issues. Carl, Jim and David also discussed new data which show that the return of workers to the office has reached a pandemic high of just over 36%. Also in focus: Markets and inflation - oil prices above $80 and why Cramer thinks the natural gas rally has peaked, the Netflix stock run-up amid buzz surrounding the drama series "Squid Game" and JPMorgan Chase CEO Jamie Dimon telling a finance group event that "bitcoin is worthless" and weighing in on supply chain problems.
D'autres épisodes de "Squawk on the Street"
Mega-Cap Tech Leads Big Earnings Week, Internal Dissent Within Facebook, Jack Dorsey vs. Cathie Wood on Hyperinflation, plus PayPal "Not Pursuing" Pinterest
43:37Carl Quintanilla, David Faber and Mike Santoli kicked off a new market week by highlighting what will be a huge week full of earnings reports, especially from mega-cap names such as Apple, Amazon, Microsoft, Alphabet and Facebook. Ahead of its quarterly results due out after Monday's close of trading, Facebook is under fire and making headlines regarding leaked internal documents. Reports say that they indicate employees at the social network expressed anger about Facebook's policies on handling misinformation -- including when it came to the 2020 election and the storming of the U.S. Capitol on January 6. The anchors discussed what these developments could mean for the stock and reacted to Facebook's rebuttal to the reports. On the inflation front, Twitter CEO Jack Dorsey tweeted "Hyperinflation is going to change everything. It's happening." But ARK Invest CEO Cathie Wood tweeted a rebuttal saying it's deflation people need to worry about. PayPal announced that "In response to market rumors ... it is not pursuing an acquisition of Pinterest at this time. Shares of Pinterest tumbled and PayPal jumped on the news. Also in focus: Supply chain issues and earnings movers including Kimberly-Clark, an update on the soaring "Trump SPAC" and Treasury Secretary Yellen making the case for her proposal to tax billionaires.
Supply Chain Crunch Impact on Earnings, Intel Slumps, Snap Tumbles on "Apple Effect," the "Trump SPAC" Skyrockets -- and a New Record High for the S&P 500
43:49Carl Quintanilla, Morgan Brennan and Mike Santoli focused on a barrage of earnings reports in which the supply chain crunch played a big role in quarterly results. Intel shares took a big hit after the chipmaker warned of lower profit margins and missed on quarterly revenue in wake of the global chip shortage. Wedbush Securities' Intel analyst appeared on the program with his take on which chip stocks are best to buy now. Snap was one of the biggest losers of the morning: The parent of Snapchat warned of slowing growth due to the recent changes in Apple iOS privacy rules. The news from Snap also weighed on shares of Facebook, Twitter and Google parent Alphabet. Honeywell posted mixed Q3 results due to what its CEO called a "tough" supply chain environment. A different story for Mattel: The stock up sharply on better-than-expected quarterly results. The toy maker said supply chain disruptions would not prevent it from having a strong holiday season. “Trump SPAC” Day Two: Digital World Acquisition -- The SPAC that is merging with Trump Media & Technology Group -- soared again after more than quadrupling in Thursday’s trading. Also in focus: A new record intraday high for the S&P 500, Pfizer and partner BioNTech said their COVID-19 vaccine is more than 90% effective in kids ages 5 to 11, President Biden considering deploying the National Guard to ease supply chain bottlenecks, Chipotle profit rises on price hikes -- and a Wall Street Upgrade for Zoom Media
Oversight Board Rebukes Facebook: One of the Board Members Tells All. Also, Market Reaction to Earnings from the Likes of Tesla and AT&T – plus, Southwest’s CEO on Q3's "Operational Challenges"
49:36On a busy day full of earnings reports, Jim Cramer and David Faber led off the show with a look at quarterly results from Tesla and AT&T, each beating street expectations. Cramer explains why he's highlighting what he calls the "TAN" stocks -- Tesla, Amazon and Netflix. Facebook's Oversight Board rebuked the company in its transparency reports released a hour before the show, saying the social media giant hasn't been fully forthcoming with how it treats high profile users. Board member Julie Owono appeared on the program to discuss the group's findings. The anchors also interviewed Southwest Airlines CEO Gary Kelly about what he calls "operational challenges" that impacted the carrier's third-quarter results, including thousands of flight cancellations. They also discussed the state of travel demand and Southwest's COVID vaccination policy for employees. Also in focus: More earnings movers, WeWork's public debut, Unilever's price hikes amid supply chain issues, the Ford rally rolls on, plus what drove Blackstone's strongest quarterly results in its 36-year history.
Earnings Parade: Netflix Falls Despite Subscriber Growth, United Posts a Quarterly Loss and Verizon Beats. Plus - A Record High for Bitcoin and the CEO of Micron on His Company's $150B Spending Plan.
44:11Carl Quintanilla, Jim Cramer and David Faber led of the show with quarterly results from Netflix. The stock falling as the company's outlook for the current quarter overshadows its strong subscriber growth of the year, helped in part by "Squid Game." The anchors reacted to what Netflix Chairman & Co-CEO Reed Hastings said on his company's earnings call -- and discussed how Netflix is faring against competitors such as Disney. United Airlines posting a narrower-than-expected third-quarter loss, with CEO Scott Kirby telling CNBC things have "bottomed out" for the carrier and that the spread of the Delta variant of COVID-19 has slowed but not derailed its recovery. Verizon beats street estimates with its Q3 results and raises its 5G demand forecast. The anchors looked at what's ahead for bitcoin, which hit a new record high and surpassed the $66,000 mark. Micron CEO Sanjay Mehrotra joined the program to discuss the chipmaker’s plans for more than $150-billion in capital and R&D spending over the next decade, plus how his company is handling the global chip shortage. Also in focus; Facebook reportedly planning a corporate name change, and what legendary investor Paul Tudor Jones told CNBC about tapering lessons the Fed should learn from 2013.
SEC Chair Gary Gensler, J&J and P&G Report, First Bitcoin Futures ETF
49:31Carl Quintanilla, Jim Cramer and David Faber began the show with a look at two Dow components reporting results. P&G topped earnings estimates despite facing increasing commodity and transportation costs. Johnson & Johnson also beat expectations and raised is full-year outlook, noting strength across all its businesses. The anchors also spoke with SEC Chair Gary Gensler in a wide-ranging interview, including the agency’s Gamestop report as well as the first Bitcoin Futures ETF making its market debut. Also in the mix: Goldman Sachs added Walmart to its conviction buy list, saying the company’s profit rebound can boost that stock nearly 40%.
Oil Hits 7-Year High, Milken Global Conference Returns, Disney Gets Downgraded
43:37Carl Quintanilla, Jim Cramer and David Faber began the show with a look at the market action, with stocks coming off their best week in three months. Oil also resumed its rally, hitting its highest level since Oct. 2014 with some traders expecting to see $100/barrel by the end of the year. Staying with energy, David Faber interviewed Chevron CEO, Mike Wirth live from the Milken Global Conference out in Los Angeles, California. Also in focus: Disney got downgraded to ‘equal-weight’ at Barclays, with the firm saying “Disney+ growth has slowed significantly.” And, Zillow shares tanked on a new report that the company has temporarily stopped its home-buying service due to overwhelming demand.
Goldman Crushes Estimates, Retail Sales Unexpectedly Rise, FDA Panel Backs Moderna Boosters
43:35Carl Quintanilla, Jim Cramer and David Faber began the show with a look at the last of the big banks reporting results, as Goldman Sachs crushed analysts’ estimates on strong investment banking and trading results. The firm produced $3.7 billion in investment banking revenue, an 88% increase from a year earlier. The anchors also hit retail sales increasing by 0.7% for the month of September compared to an estimated 0.2% decline. The increase came during a month when the government ended the enhanced benefits it had been providing during the Covid-19 pandemic and against forecasts that growth would slow in the third quarter due to the delta variant spread and a perceived pullback. Also in focus: An FDA Panel unanimously recommended Moderna Covid booster shots for at-risks adults.
Stocks Rally, Morgan Stanley Chairman & CEO James Gorman and the Bank Earnings Parade, Inflation Watch and Pres. Biden's Supply Chain Challenges, and $1.5M-winning "Jeopardy!" Champion Matt Amodio.
50:47Carl Quintanilla, Jim Cramer and David Faber covered all of the bases on Wall Street's rally: Stocks getting a boost from tamer-than-expected wholesale inflation data, weekly jobless claims coming in below 300,000 for the first time since the pandemic began, and earnings from Bank of America, Wells Fargo, Citigroup and Morgan Stanley beating street expectations. Morgan Stanley Chairman & CEO James Gorman appeared on the program and said his company is seeing the fruits of its long-term strategy. the anchors also asked him about his take on Robinhood's trading platform, getting employees back into the office and the state of cryptocurrency. The anchors also took a closer look at the White House's strategy for tackling supply chain bottlenecks -- and President Biden urging the private sector to "step up" and help solve the crisis. Cramer sounded off about what he sees as the lack of urgency in dealing with gridlock at the ports. Also in focus: Walgreen Boots Alliance's earnings beat on stronger demand for COVID-19 vaccines, what Apple joining the rally means about the road ahead for investors, and a why it has been a rough October for shares of AT&T and its rivals. Long-time "Jeopardy" champion Matt Amodio joined the program just days after his 38-show winning streak came to an end. What's he going to do with his $1.5-million in prize money?
JPMorgan Chase and Delta Kick Off Earnings Season, Bezos' Blue Origin Sets a Space Mission for "Captain Kirk" William Shatner, The White House vs. Supply Chain Bottlenecks -- and Where Apple Fits Into the Chip Shortage Picture
45:54Carl Quintanilla, Jim Cramer and David Faber began the program with a look at the beginning of earnings season. JPMorgan Chase out with better-than-expected quarterly results, with CEO Jamie Dimon saying results were strong despite what he called "the dampening effect of the Delta variant and supply chain disruptions." Cramer highlighted the history of how JPM shares trade on days the bank releases earnings. Delta Air Lines also beat the street, including a quarterly profit for the first time since the pandemic began -- but it also forecasts a loss for the current quarter due to rising fuel costs. The anchors also reacted to what Delta CEO Ed Bastian told CNBC about vaccine mandates and his company's approach to COVID and employees. Nearly three months after Jeff Bezos soared into space, his company Blue Origin sending the original Captain Kirk on a mission: 90-year old William Shatner, two astronauts and a Blue Origin executive set for a launch aboard the company's "New Shepard" rocket. Morgan Brennan joined Carl, Jim and David -- they covered all of the bases ahead of liftoff. The White House expected to announce plans aimed at solving supply chain bottlenecks ahead of the holiday season, including a commitment from the Port of Los Angeles to operate around the clock. Also, a published report says Apple is likely to slash its projected iPhone production targets for 2021 due to the chip shortage. The comes amid Apple's announcement of its October 18 "Unleashed" event, in which the company is expected to unveil products including new MacBooks. Also in focus: What's next for tech stocks, from Apple and other FAANG names to players in the semiconductor sector, consumer inflation hits a 13-year high, and a look back at the life and career of long-time Hasbro CEO Brian Goldner, who died at the age of 58.
Southwest Chairman & CEO Gary Kelly on Flight Cancellations, Labor Shortages and Vaccine Mandates. Plus, Worker Returns to the Office Hit a Pandemic High, Oil After $80 and Market Impact, and Jamie Dimon Says "Bitcoin Is Worthless"
43:25Carl Quintanilla, Jim Cramer and David Faber explored the challenges facing Southwest Airlines: More than 2,000 flights canceled since the beginning of the past weekend, staff shortages and air traffic control issues in the mix, along with Texas Governor Greg Abbott announcing a ban on COVID vaccine mandates in his state -- though Southwest disputes the idea that cancellations are due to employees protesting such a mandate. Southwest Chairman & CEO Gary Kelly appeared on the program and faced tough questions from the anchors on these issues. Carl, Jim and David also discussed new data which show that the return of workers to the office has reached a pandemic high of just over 36%. Also in focus: Markets and inflation - oil prices above $80 and why Cramer thinks the natural gas rally has peaked, the Netflix stock run-up amid buzz surrounding the drama series "Squid Game" and JPMorgan Chase CEO Jamie Dimon telling a finance group event that "bitcoin is worthless" and weighing in on supply chain problems.