Squawk on the Street

Latest Episodes:

First Trading Day of Q4, the New "CNBC Investing Club" With Jim Cramer, the Merck-Ridgeback Biotherapeutics COVID-19 Pill: An Interview With Ridgeback's Co-Founders. Plus, Zoom and Five9 Scrap Their $15B Deal. Oct 01, 2021

Show notes

Carl Quintanilla, Jim Cramer and David Faber kick off a new month and quarter by announcing details about Cramer launching the "CNBC Investing Club," which aims to help investors build long-term wealth. A big story out of Merck: The stock surging after the drug maker and its partner Ridgeback Biotherapeutics announced their experimental COVID-19 pill cut the risk of death and hospitalization by 50% in a late stage study. Both companies plan to file for emergency use authorization as soon as possible. Ridgeback Co-Founder Dr. Wayne Holman and Co-Founder and CEO Wendy Holman joined the program to discuss this big development in the war against the pandemic. Also in focus: Zoom Video and Five9 have terminated their nearly $15-billion deal by mutual consent, what to expect from the markets in the fourth quarter after a rough September, Exxon Mobil expects higher oil and gas prices to boost quarterly earnings by as much as $1.5-billion -- and Cathie Wood tweets about peak oil demand. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Last Trading Day of Q3, Supply Chain Effect on Markets, D.C. on Wall Street's Radar, Merck's $11.5B Deal, Powell and Yellen Part Two, and Facebook on the Capitol Hill Hot Seat. Sep 30, 2021

Show notes

Carl Quintanilla, David Faber and Mike Santoli take a closer look at the markets as the three major indices aim to end the third quarter in positive territory after a rough September. Supply chain issues in focus: Bed Bath and Beyond shares plummeted on quarterly results and weaker guidance, hurt by a steep drop-off in traffic and supply challenges. New data show China manufacturing activity contracted in September for the first time in 18 months -- when the country was hit hard by the pandemic. The anchors discussed a New York Times story about how retailers are being impacted by shutdowns at their Vietnamese suppliers. Carl harkened back to his reporting from Vietnam in 2019 about that country's manufacturing boom. Carl, David and Mike also reacted to Fed Chair Jerome Powell describing supply chain problems as “frustrating.” Also in focus: Merck's $11.5-billion deal to acquire drug maker Acceleron Pharma, highlights from CNBC's "Delivering Alpha" conference including Chamath Palihapitiya on the markets, the Senate deal to avoid a government shutdown as the House moves toward a vote on the bipartisan infrastructure bill, what to expect from Fed Chair Powell and Treasury Secretary Yellen during their testimony before a House panel -- and the Facebook global head of safety’s appearance at a Senate subcommittee hearing on social media and Instagram’s impact on teens' mental health. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Stocks After the Sell-off, Sen. Warren Slams Fed Chair Powell, Elon Musk Gets Revved Up At Code, United Airlines CEO on the Company's Vaccine Mandate, and Highlights from "Delivering Alpha." Sep 29, 2021

Show notes

The morning after one of the worst sessions of the year for the markets, Jim Cramer and David Faber led off the show with a look at stocks trying to rebound from the Tuesday sell-off. Jim and David reacted to Senator Elizabeth Warren telling Fed Chair Jay Powell she will oppose his re-nomination, calling him a "dangerous man" to lead the central bank. Cramer called her remarks during Tuesday's Senate Banking Committee hearing "incendiary" and weighed in on the state of the banks. The anchors also discussed the recent spike in natural prices as well as the chip shortage: Micron shares under pressure after the company's guidance disappointed Wall Street analysts. At the Code Conference in Los Angeles, Carl Quintanilla highlighted comments Tesla CEO Elon Musk made at the event on everything from his company's stock price to paying taxes. Speaking of CEOs, United Airlines' Scott Kirby joined "Squawk on the Street" -- Phil LeBeau, Jim and David interviewed him about firing nearly 600 workers who declined to comply with the carrier's vaccine mandate. They also discussed the state of travel demand in wake of the COVID-19 Delta variant outbreak. At CNBC's "Delivering Alpha" conference, J.P. Morgan Asset & Wealth Management CEO Mary Callahan Erdoes spoke about market froth and why she believes Chinese property giant Evergrande is not another Lehman Brothers. Also in focus: Eyewear maker Warby Parker goes public with a direct listing, shares of Dollar Tree jump on a share buyback increase, big tech's rough September, an update on the Zoom Video-Five9 deal, and Carl at Code with highlights of Salesforce CEO Marc Benioff's comments on remote work trends. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Tech Stock Sell-off, Carl at the Code Conference, Countdown to Powell and Yellen on the Hill, Ford's $11.4B bet on EVs, and the CEO of Robinhood Fires Back At Critics Sep 28, 2021

Show notes

Jim Cramer and David Faber led off with a rough start for the markets: Tech stocks in sell-off mode as the 10-year note yield hits a fresh three-month high. Jim and David focused on the mega-cap tech names and whether now is the time to buy. Speaking of tech: At the Code Conference in Los Angeles, Carl Quintanilla highlighted what AMD CEO Lisa Su said at the event about the chip shortage, Microsoft CEO Satya Nadella's remarks on the search market being a "complete monopoly" and Netflix Co-CEO Ted Sarandos’ comments on streaming, content and legacy movie studios. The anchors previewed testimony from Fed Chair Powell and Treasury Secretary Yellen ahead of their appearance before a Senate Banking Committee hearing on COVID-19 and the economy. Jim, David and Carl discussed Robinhood CEO Vlad Tenev's op-ed in The Wall Street Journal in which he defended his company's trading platform and its users -- and slammed critics who call its app "gamified." The anchors also reacted to what SEC Chair Gary Gensler told the Code Conference. Also in focus: Ford and Korean partner SK Innovation plan to invest $11.4-billion on electric vehicle factories. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Instagram Pushes Pause, Oil Prices Bounce, Supply Chain Woes Worsen Sep 27, 2021

Show notes

Carl Quintanilla, Jim Cramer and David Faber began the show with a look at the market action, with the S&P on pace for its worst month since Oct. 2020. The anchors also looked at the jump in energy prices, after Goldman Sachs raised its forecast on Brent crude oil saying it will hit $90 by year-end as supply tightens. Facebook making headlines this morning as well, announcing it is pausing work on ‘Instagram Kids’ after facing backlash. Despite saying this is a “very big change,” Jim Cramer said the news will have little to no impact on Facebook’s stock price. Also in focus: Jim Cramer highlighted Best Buy ($BBY) for ‘Stop Trading’ after Piper Sandler named the retailer as a “top idea.” Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

China’s Crypto Crackdown, Nike’s Supply Chain Challenges, Chip Shortage a “Short-Term” Problem? Sep 24, 2021

Show notes

Carl Quintanilla and Jim Cramer began with a breakdown of China’s crackdown on crypto with the country’s central bank saying all crypto-related activities are illegal. China’s comments sent prices of Bitcoin and Ethereum tumbling. The anchors stayed with China and got a live report from Eunice Yoon for the latest surrounding Evergrande’s crisis. Shifting to earnings, the anchors talked supply chain challenges that sent shares of Nike lower, despite the company posting an earnings beat. Jim Cramer says he is “worried about Nike.” Also in focus: Elon Musk says the chip shortage is a ‘short-term’ problem while Sec. Commerce Gina Raimondo says the “situation is not getting better, in some ways it is getting worse.” Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Understanding Evergrande, Dell’s Post-Spinoff Outlook & Flying Cars Sep 23, 2021

Show notes

Carl Quintanilla, Jim Cramer and David Faber discuss China’s property market crisis and the Federal Reserve's decision to keep current monetary stimulus in place for just a little bit longer. The Food and Drug Administration has authorized Pfizer and BioNTech’s Covid-19 booster shots for people 65 and older and other vulnerable Americans six months after they complete their first two doses, making many Americans eligible to receive the shots now. Toast shares soared 56% in their New York Stock Exchange debut Wednesday after the provider of technology to restaurants priced its IPO above its expected range, Jim Cramer shares his skepticism. Dell says Q3 2022 expectations remain consistent with guidance after its spinoff of VMWare. Joby Aviation shares jumped almost 8% after Morgan Stanley initiated coverage of the stock with an overweight rating. The investment firm said in a note that Joby appears to have a head-start on getting its in-development vehicles certified by regulators compared to its competitors. Plus, CNBC’s Rick Santelli discussed how yields have fared throughout the year. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Fed Decision Day -- And Jamie Dimon Weighs In. Plus: Labor Pains for FedEx, A New Chapter in China's Evergrande Saga and What It Means for Stocks, An Update on DraftKings' $22.4B Takeover Offer, and Marc Benioff Blasts Facebook. Sep 22, 2021

Show notes

One day after a Wall Street rally fizzled, Carl Quintanilla, Jim Cramer and David Faber discussed the markets' attempt at another surge as fears surrounding Evergrande begin to ease: The Chinese property giant set to make its domestic bond payment on time. The anchors look at whether or not that development means now's a good time to buy into sectors such as materials. Cramer speaks out on why he believes China's President Xi has "overreached" when it comes to crackdowns in his country. Wall Street also bracing for Wednesday afternoon's Fed decision, policy statement and news conference with Chair Jerome Powell. The anchors reacted to JPMorgan Chase Chairman and CEO Jamie Dimon telling CNBC he believes the Fed could be forced into a sharp move next year. Shares of FedEx tumble after the company posted a big quarterly miss on the bottom line and cut guidance, citing the impact of labor shortages and rising costs. Media and streaming also in the spotlight: Brian Roberts, the Chairman and CEO of CNBC parent Comcast, told the Goldman Sachs Communacopia Conference the company is looking at new partnerships outside of the U.S. for its Peacock service. This comes after Disney CEO Bob Chapek told the conference why his company projects lower subscriber growth in its fiscal fourth quarter. Also in focus: More earnings movers including Adobe -- shares fall despite better-than-expected quarterly results, an update on DraftKings' $22.4-billion takeover offer for U.K.-based sports-betting company Entain, and Salesforce Chair and CEO Marc Benioff blasts Facebook for how it handles misinformation on the social network. 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: Markets Rebound, China's Impact on Stocks, J&J's COVID Booster Shot Data, Uber Revs Up On Profit Outlook, and DraftKings Launches a $20B Takeover Bid Sep 21, 2021

Show notes

Carl Quintanilla, Jim Cramer and David Faber began the show with a look at a rebound for stocks one day after worries surrounding Chinese property giant Evergrande helped to spark the worst sell-off for the S&P 500 in four months. The anchors discussed whether now is the time to get in on stocks that took a hit due to China exposure. They also highlighted a note from Bank of America which says that Apple "has navigated the China relationship admirably" but added that a "resurgence of national sentiment" could impact iPhone sales. On the pandemic front, Johnson & Johnson out with data showing a booster shot of its COVID-19 vaccine -- given two months after the first dose -- provided 94% protection in the U.S. and 75% globally. Uber shares up sharply on the company's outlook. Carl, Jim and David reacted to Uber CEO Dara Khosrowshahi's comments to CNBC about why he believes his company is on the track to profitability. They also discussed Uber, Lyft, DoorDash and Airbnb -- all participating in the rebound rally -- and reacted to Airbnb CEO Brian Chesky talking to CNBC about how his company has adapted to travel changes in wake of the pandemic. David Faber reports that DraftKings has made a $20-billion stock and cash takeover offer for U.K.-based online sports betting company Entain. Also in focus: The two-day Fed meeting, plus what to expect from President Biden's first address to the United Nations General Assembly as President of the United States. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Market Sell-off Extends the September Slide: China and the Evergrande Effect -- What Investors Should Do Now. Plus, Treasury Secretary Yellen’s Debt Ceiling Warning, Pfizer's New Data on COVID Vaccines for Kids, and U.S. Plans to Ease Travel Restrictions. Sep 20, 2021

Show notes

Carl Quintanilla, Jim Cramer and David Faber kicked off the week with a breakdown of the market sell-off, sparked by worries about contagion from the problems of Chinese property giant Evergrande. The company has hundreds of billions in debt and risks defaulting on a payment this week. The anchors also looked at where this week's Fed meeting, Washington's haggling over the reconciliation bill and the debt ceiling fit into the market picture, with Treasury Secretary Janet Yellen saying in an op-ed that Congress' failure to raise the debt limit would result in "economic catastrophe." Cramer calls this a "faux perilous" moment, adding that everything could be contained by "responsible politicians." He also talks about the September slide and how investors should approach what has been historically a rough time of the year for stocks. Carl, Jim and David also discussed Pfizer and BioNTech's announcement of new data showing their COVID vaccine is safe and generates what they call a "robust" immune response in a clinical trial of kids ages 5 to11. The anchors reacted to Pfizer board member and former FDA commissioner Dr. Scott Gottlieb's comment to CNBC, in which he said a vaccine for kids could be available as early as late October 2021. Also in focus: The U.S. planning to ease travel restrictions for foreign nationals who are vaccinated against COVID, a look ahead to this week's earnings from companies including Nike, why cryptocurrencies are under pressure, and "SPAC-ulation" intensifies. 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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