Squawk on the Street

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Goldman Crushes Estimates, Retail Sales Unexpectedly Rise, FDA Panel Backs Moderna Boosters Oct 15, 2021

Show notes

Carl 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. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

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. Oct 14, 2021

Show notes

Carl 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? Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

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 Oct 13, 2021

Show notes

Carl 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. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

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" Oct 12, 2021

Show notes

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. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

A New Market Week, Oil Prices Hit a Seven-Year High, Goldman Cuts U.S. Growth Forecast, Southwest Flight Cancellations, Merck Asks FDA to Approve COVID Pill for Emergency Use, CEO Changes at KKR and a $56M "Bond" Debut at the Box office Oct 11, 2021

Show notes

Jim Cramer and David Faber led off the show with a look at what investors should do in wake of the recent rally in energy prices: WTI crude surging to a seven-year high and natural gas up 50% over the past three months. The anchors highlighted Goldman Sachs lowering its U.S. growth forecasts for 2021 and 2022 as the firm expects a "delayed recovery in consumer spending" and no improvement in the global chip supply until next year. Jim and David also discussed a rough start for Southwest: Shares under pressure after the airline announced hundreds of additional flight cancellations on top of the 1,800 that took place over the weekend, citing bad weather, air traffic control issues and staff shortages. Southwest also disputes speculation that its high level of cancellations compared to other airlines were due to employee protests of a COVID-19 vaccine mandate. Speaking of the pandemic, Merck and Ridgeback Biotherapeutics announced submission of an emergency use authorization application to the FDA for their oral COVID-19 treatment. The anchors reacted to what former FDA Commissioner Dr. Scott Gottlieb told CNBC about when he believes Merck's COVID pill will hit the markets. Changes at the top of KKR: Co-founders Henry Kravis and George Roberts stepped down as Co-CEOs of the private equity firm. The anchors explored what this means for KKR and the world of P.E. Also in focus: Big banks kicking off earnings season later this week, Chinese stocks continue to rebound, Emerson Electric's $11-billion merger deal with Aspen Technology, and as movie theaters look to rebound from the pandemic -- the new James Bond film "No Time To Die" debuts by grossing $56-million at the box office domestically. It was the weekend’s top performer but just shy of consensus estimates. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

A September Jobs Miss - Pres. Biden's Commerce Secretary Reacts, Tesla Moving Its HQ From California to Texas, Elon Musk’s Message on Production and the Chip Shortage, Apple's Supply Chain and the China Factor, and AMC's CEO Slams "Naysayers" Ahead of the New James Bond Film's Debut In Theaters. Oct 08, 2021

Show notes

Carl Quintanilla, Jim Cramer and David Faber led off the show with the big news of the morning: The much-anticipated employment report shows 194,000 non-farm jobs were created in September, well below the 500,000 that economists had been expecting. The unemployment rate fell to 4.8%, but the labor participation rate also declined amid concerns about the COVID-19 Delta variant outbreak. The anchors explored what it all means for investors and the Fed, and whether it means Fed Chair Powell and his fellow policymakers should push back their timeline for tapering. Commerce Secretary Gina Raimondo appeared on the program to discuss the Biden Administration's reaction to the jobs data. She also weighed in on COVID vaccine mandates and the supply chain challenges facing the nation's businesses. The anchors also discussed Tesla's decision to move its headquarters from California and Texas, plus what Elon Musk told investors about Tesla's manufacturing expansion plans and how the electric vehicle maker is navigating the global chip shortage. As movie theaters gear up for the debut of the new James Bond film "No Time to Die," AMC Theatres Chairman & CEO Adam Aron had a message for his critics in a Thursday night tweet: "It feels more like AMC is playing 3-dimensional chess. To the naysayers, I say it loud: #ChokeOnThat." The anchors discussed the road ahead for AMC -- one of the earliest "meme stocks." China also in focus: A strong week for shares of Alibaba -- and Morgan Stanley's Katy Huberty out with a note assessing Apple's supply chain and what it could mean for the new iPhone 13. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Stocks Rally on Debt Ceiling Deal Hopes, Commodity Price Surge Impact, Facebook's "Reputational Reviews" and Pfizer Asks the FDA to Authorize Its COVID Vaccine for Kids Ages 5 to 11 Oct 07, 2021

Show notes

Carl Quintanilla, Jim Cramer and David Faber took an in-depth look at Thursday's market rally: Wall Street hoping that Senate Republicans and Democrats are on the verge of a deal to lift the debt ceiling and stave off a default. The anchors reacted to comments from JPMorgan Chase CEO Jamie Dimon: At yesterday's meeting with President Biden and other CEOs, Dimon warned that failure to increase the debt limit would result in economic "catastrophe." Carl, Jim and David explored the impact of rising energy and commodity prices compared to a year ago and how the markets and companies are handling them. The anchors also reacted to what Levi Strauss CEO Chip Bergh told CNBC about raw materials and navigating cotton pricing. On the pandemic front: Pfizer announced it is asking the FDA to authorize its COVID-19 vaccine for emergency use in children ages 5 to 11. In wake of Facebook whistleblower Frances Haugen's Capitol Hill testimony on Tuesday, the anchors discussed a report from The Wall Street Journal which says Facebook is delaying work on new and existing products while conducting "reputational reviews." Cramer explains why it's time to "give (Mark) Zuckerberg a chance.": Also in focus: Why Moffett Nathanson is upgrading AT&T to "neutral," General Motors' aggressive targets for 2030, signs travel is making a comeback, and Trian's Ed Garden on management teams spending money on ESG. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Erasing Tuesday's Rally, Why the "Putin Effect" on Natural Gas Matters, Zuckerberg Fires Back At the Facebook Whistleblower, Talking Biotech At the Active-Passive Investor Summit, Dow CEO's Strategy on "Investor Day" Oct 06, 2021

Show notes

The morning after Tuesday's rally, Carl Quintanilla, Jim Cramer and David Faber explored a big pullback in the markets amid action in bond yields -- despite much stronger-than-expected ADP September jobs data. Volatility in natural gas prices as Russian President Vladimir Putin says his country is ready to increase gas shipments Europe. The anchors explain what the action in the energy markets means for investors. Facebook and its stock remain in the spotlight: CEO Mark Zuckerberg strikes back after whistleblower Frances Haugen's Capitol Hill Testimony on Tuesday. In a blog post, Zuckerberg denied that Facebook prioritizes profit over safety and well-being, and added that the "argument that we deliberately push content that makes people angry for profit is deeply illogical." At the Active-Passive Investor Summit in New York, David interviewed activist investor Alex Denner about his strategy when it comes to the biotech sector. Dow Inc. Chairman & CEO Jim Fitterling also joined the program on his company's "Investor Day" to discuss his investment plans to boost core earnings by $3-billion annually over the next decade, "with a clear path to zero-carbon emissions." Also in focus: Tech under pressure and betting on the cloud, a look at the auto sector ahead of General Motors' investor event, what's sparking the surge in bitcoin, plus the debt ceiling standoff. 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 Tech Sell-off and Facebook's Rough Day, Facebook Whistleblower Heads to Capitol Hill, J&J's Booster Push, Southwest's COVID Vaccine Mandate, and the CEO of MGM Resorts Talks Vegas, Gaming and the Recovery Oct 05, 2021

Show notes

One day after the tech sell-off dragged Nasdaq to its lowest levels since June, Carl Quintanilla, Jim Cramer and David Faber led off the show with an in-depth look at Facebook: The stock tumbled Monday after Facebook, Instagram and WhatsApp experienced outages for hours -- which followed allegations from Facebook whistleblower Frances Haugen, who accuses the social media giant of allowing the spread of misinformation and putting profits ahead of the public good. The anchors discussed what to expect from Haugen's Tuesday testimony before a Senate subcommittee, what's at stake for CEO Mark Zuckerberg and Facebook stock, a survey indicating Instagram is losing popularity among teens, and Twitter CEO Jack Dorsey appearing to take a shot at Facebook in a one-number tweet. On the pandemic front: Johnson and Johnson officially asked the FDA to approve its COVID vaccine booster shot for emergency use -- and Southwest joined the list of airlines requiring employees to be vaccinated. MGM Resorts CEO Bill Hornbuckle joined the program from the Global Gaming Expo in Las Vegas. Contessa Brewer and the anchors interviewed him about everything from the state of gaming in Vegas and Macau to DraftKings' bid to acquire Entain of the U.K. Also in focus: Cramer's take on buying the dip, what teens are saying about Netflix in a survey, Nike and the China effect, supply chain concerns, PepisCo rises on earnings, and a look at the energy stocks helping to lead the S&P 500 higher. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Facebook Whistleblower Sends a Message -- and the Company Responds. Plus: A New Record for Tesla, Ford Sales Slump in September, and the COVID Pill Effect: Merck Extends Rally While Moderna Continues to Decline. Oct 04, 2021

Show notes

Carl Quintanilla, Jim Cramer and David Faber began the show with a look at Facebook under scrutiny: The company's former product manager Frances Haugen revealed her identity as the whistleblower who released a trove of internal Facebook research. She accuses the social media giant of allowing the spread of misinformation and putting profits ahead of the public good. Along with exploring what this all means for Facebook and its stock, the anchors reacted to what Haugen said about the company in a "60 Minutes" interview, as well as the response from Facebook itself. Carl, Jim and David also discussed news out of the auto sector: Shares of Tesla rise after Elon Musk’s company announced it delivered more than 241-thousand vehicles during the third quarter, marking a quarterly record for the automaker. Ford posted a U.S. vehicle sales drop of 17.7% in September from a year ago, but added that reservations for its F-150 Lightning electric pickup truck have surpassed the 150,000 mark. Also in focus: Hedge fund Engine No. 1 announced its support for General Motors’ goal to have a 100% electric car portfolio by 2035 -- as well as an investment in the automaker, Merck shares extend gains on news surrounding the experimental COVID pill it developed with partner Ridgeback Biotherapeutics -- while vaccine makers such as Moderna add to recent stock losses, what's sparking the latest jump in oil and natural gas prices, Qualcomm and an investment firm team up to buy a Swedish automotive tech company in a $4.5-billion deal, plus Jamie Dimon's take on bitcoin and regulating cryptocurrency. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

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