Squawk on the Street

Latest Episodes:

A New Month and a New Record High, The Big Tech Rally, and Buying Financials - August's Top-Performing Sector. Also: Hurricane Ida Damage and the Gas Shortage, Lucid Plummets, and Buying on the Dip - Cathie Wood Loads Up on Zoom Sep 01, 2021

Show notes

On the first trading day of September, David Faber, Leslie Picker and Mike Santoli explored what's next for stocks after an August in which the S&P 500 extended its monthly win streak to seven. They looked at what history tells us about market performance in September. The Nasdaq rose to a new all-time high: Can big tech/FAANG keep the upward momentum going? Financials were the best performing sector in August with a five-percent gain. The anchors asked Piper Sandler analyst Jeff Harte which bank stocks are most likely to extend the rally. The damage from Hurricane Ida also in focus: Frank Holland reports from New Orleans on the power outage situation in Louisiana. An executive of a group representing owners of thousands of Louisiana service stations and convenience stores joined the program to discuss how they're coping with gasoline shortages due to Ida. David, Leslie and Mike took a closer look at Cathie Wood's buy on the dips strategy - the tech investor snapped up more than $56-million worth of Zoom Video shares after the stock tumbled on Tuesday. She also bought about 260,000 shares of Robinhood. Also in focus: PVH and Campbell Soup among the biggest gainers on earnings news, Why shares of electric vehicle startup Lucid have taken another big hit, and an eye-opening development in the railroad takeover battle for Kansas City Southern. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Final Trading Day of August, Entergy President on Hurricane Ida's Damage and Power Outages, Zoom Tumbles on Growth Outlook, and Can Chip Stocks Sustain Their Record Run? Aug 31, 2021

Show notes

David Faber, Morgan Brennan and Mike Santoli led off the show with a look at the markets on the final trading day of August, which has been a strong month for tech stocks. That discussion was followed by Frank Holland’s live report from New Orleans on the catastrophic damage caused by Hurricane Ida, as more than one million Louisiana residents could be without power for weeks. Rod West -- Entergy Group President, Utility Operations -- joined the program to discuss the challenges the New Orleans-based utility faces in providing electricity to customers and restoring the power grid that was destroyed by Ida. The anchors also highlighted the big stock story of the morning: Shares of Zoom Video tumbling on the company's slower growth outlook as more people return to the office and to school. That news overshadowed better-than-expected quarterly results. Staying on tech, a semiconductor analyst from Mizuho appeared on the show discuss the recent chip stock rally and which names he thinks will power the sector's record run. Also in focus: Why China-based stocks are rebounding, SEC Chairman Gensler's comments and their impact on Robinhood stock, and what's behind the rise in SPAC redemption rates. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Hurricane Ida's Catastrophic Damage and What's At Stake for the Energy Sector, The S&P 500's "Earnings-Led Melt-Up", Space-Related Stocks Soar and Plummet, While Two Stocks Skyrocket on Big Tech News Aug 30, 2021

Show notes

David Faber, Morgan Brennan and Mike Santoli kicked off the show with the latest on the damage caused by Hurricane Ida, going to a live report from CNBC's Valerie Castro on the ground in New Orleans, which has been hit by a power outage -- more than one million people in Louisiana and Mississippi without power as a result of Ida, which was downgraded to tropical storm status. The anchors and a Wall Street analyst discussed Ida's impact on the energy sector, with regulators saying that 95-percent of oil production in the Gulf of Mexico due to the hurricane. David, Morgan and Mike also looked at the market week ahead with the S&P 500 hitting fresh record highs. Veteran strategist Ed Yardeni joined the program to discuss what he calls an "earnings-led melt-up" in the S&P 500. Space-related stocks among the big movers: Satellite services provider Globalstar soared more than 60-percent following a report in AppleInsider that the iPhone 13 will have the ability to utilize satellite communications, while Astra Space shares plummeted after its rocket once again failed to reach orbit. Also in focus: Shares of digital payments specialist Affirm Holdings soar more than 40-percent on news of the company's partnership with Amazon, China to limit videogames for young people, how insurance stocks are moving in reaction to Hurricane Ida, the EU suspends non-essential travel from the U.S. due to the Delta variant outbreak, plus medical technology M&A: David Faber reporting that Baxter International is near a deal to buy Hill-Rom for $156 per share. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Markets Brace for Fed Chair Powell's Jackson Hole Speech, Cleveland Fed President Mester Speaks Out, Peloton Tumbles, Gap Jumps and Apple Reaches a Settlement Aug 27, 2021

Show notes

Carl Quintanilla, David Faber and Mike Santoli led off the show with a preview of Fed Chair Jerome Powell's speech to the Jackson Hole virtual symposium and what it could mean for markets, with Wall Street looking for clues about Fed policy when it comes to inflation and tapering as the Delta variant outbreak impacts the economy. Steve Liesman interviewed Cleveland Fed President Loretta Mester about her perspective on tapering, inflation and supply constraints, plus the role COVID vaccinations are playing in the recovery. The anchors also reacted to the big movers of the morning: Peloton falls after reporting a wider-than-expected quarterly loss and stating in an SEC filing that it has been subpoenaed by the government for documents on injuries related to its products. A different story for Gap -- shares higher on better-than-expected quarterly results and raised guidance, power by strong demand for its Old Navy and Athleta brands. Also in focus: Apple says it has resolved a class-action lawsuit from U.S. developers over its App Store policies, Dell Technologies and HP fall despite earnings beats, and what's driving the rally in energy stocks. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Earnings Parade from Tech to Retail, Dollar Stores Slump on Supply Chain Challenges, The Stay-At-Home Trade vs. Return to Work Plans as COVID Cases Rise, And Fed Presidents Speak Out Ahead of Chair Powell's Jackson Hole Speech Aug 26, 2021

Show notes

The morning after fresh record closing highs for stocks, Carl Quintanilla, Jim Cramer and David Faber led off the show with a look at a pair of tech earnings movers: Shares of Salesforce and Snowflake each getting a lift from their respective quarterly results. The anchors reacted to what the CEOs of both companies told CNBC about their numbers, and explored what's next for stay-at-home players such as Zoom in wake of companies pushing back their return to office plans due to the Delta variant outbreak. Retail earnings also on the front burner: Williams-Sonoma shares surge on upbeat quarterly results and guidance -- plus a 20-percent dividend hike, while Dollar General and Dollar Tree saw their shares slump as both retailers issued guidance below street estimates -- this in wake of supply chain issues. Ahead of Fed Chair Powell's Friday speech to the Jackson Hole virtual Fed summit, the anchors reacted to comments St. Louis Fed President James Bullard made to CNBC about how soon policymakers should taper to combat inflation. Also in focus: Banks in the green including JPMorgan Chase trading at a two-month high, The debate over whether government benefits are a major disincentive for people to return to work - and where "gig stocks" fit into the picture, and "SPAC on the Street" including Forbes’ plans to go public, plus another day in which a SPAC is doubling after the opening bell. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

J&J's COVID Vaccine Booster and the Reopening Trade, "Meme Stock Madness" Returns, Nasdaq's New Record High, Big Earnings Movers in Retail, Nvidia's Supercomputer Deal, and CEOs Head to the White House for a Cybersecurity Summit Aug 25, 2021

Show notes

Carl Quintanilla, Jim Cramer and David Faber discussed the road ahead for the market on another record-setting day for the Nasdaq. Johnson & Johnson says its COVID vaccine booster shot generated a positive immune response in early trials. The anchors explored what this means for the reopening trade as more companies institute vaccine mandates. Carl, Jim and David followed up on the "meme stock madness" after GameStop and AMC Entertainment each posted gains of more than 20-percent in Tuesday's session. Retail stocks also in the spotlight: Nordstrom shares tumble despite beating analyst expectations with its quarterly results, while Dick's Sporting Goods sees its stock soar in reaction to an earnings beat and dividend hike. The anchors took a closer look at the chip sector: Everything from Nvidia announcing its computer platform will be used in an U.S. Department of Energy supercomputer (and where Intel fits into the story) - to the state of the chip shortage and its impact on the auto industry. Also in focus: What to expect from the White House cybersecurity summit including the big tech CEOs, plus a "Faber Report" on SPACs -- and why one SPAC soared more than 170-percent right after the opening bell. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

The Chinese Stock Rally and the Cathie Wood Effect, Mandates and the Reopening Trade After Full Approval of Pfizer's COVID Vaccine, Boeing Faces New Scrutiny, Tim Cook's Decade as CEO of Apple, and the CEO of Medtronic Talks Earnings and the Pandemic. Aug 24, 2021

Show notes

Carl Quintanilla, Jim Cramer and David Faber explored the reasons behind a big rally in shares of China-based companies. One of the catalysts: Cathie Wood's Ark Invest buying almost 165,000 shares of JD.com. The reopening trade very much in focus one day after the FDA fully approved Pfizer's COVID-19 vaccine. Airline and cruise stocks extending Monday's gains. The anchors discussed everything from the push for vaccine mandates to why the White House isn't doing more to promote use of Regeneron's monoclonal antibody treatment for COVID. Medtronic CEO Geoffrey Martha joined the program to discuss his company's outlook in wake of the pandemic, as well as quarterly results showing stronger demand for medical devices. The anchors reacted to reports the FAA is set to review how Boeing employees handle safety matters on the agency’s behalf after some company engineers said they face undue pressure. Carl, Jim and David also took a closer look at Apple on Tim Cook's tenth anniversary as CEO of the tech giant: The stock up 1000-percent since Cook succeeded the legendary Steve Jobs. Also in focus: A fresh record high for the Nasdaq, Best Buy jumps on earnings, Palo Alto Networks soars on quarterly results, Airbnb CEO Brian Chesky tweets that the company "will begin housing 20,000 Afghan refugees globally for free," and an update on the lawsuit against a SPAC backed by billionaire investor Bill Ackman. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

The FDA Grants Full Approval to Pfizer's COVID Vaccine, Fed Chair Powell and Jackson Hole, Bitcoin Back Above $50K, Wall Street Firms' First Calls on Robinhood, "Gig Stocks" Slump on California Judge's Ruling, and Sir Richard Branson's Virgin Orbit to Go Public Via a SPAC Deal. Aug 23, 2021

Show notes

Carl Quintanilla, Jim Cramer and David Faber discussed what's ahead for the markets this week in light of the big news of the morning: The FDA officially granting full approval to the Pfizer/BioNTech COVID-19 vaccine. The anchors discussed what this development could mean for the reopening trade, vaccine mandates and getting workers back into the office. Carl, Jim and David also reacted to former FDA Commissioner Dr. Scott Gottlieb's comments to CNBC about businesses mandating vaccine shots for workers. The Fed also in the spotlight ahead of Friday's Jackson Hole symposium, which is going virtual due to the Delta variant outbreak. The anchors explored whether Fed Chair Jerome Powell should hold off on his tapering strategy until we get more answers about how long Delta will impact the recovery. Also in focus: Bitcoin jumps back above $50,000 for the first time since May, a number of Wall Street firms initiating coverage of Robinhood nearly a month after its public debut, shares of Uber, Lyft and DoorDash take a hit after a California judge ruled the state's "gig worker" law to be unconstitutional, and Sir Richard Branson's Virgin Orbit satellite launch service planning to go public by combining with SPAC "NextGen Acquisition Corp. II" in a $3.2-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.

The Tesla Bot, Delta Derails, Autos Chipped Aug 20, 2021

Show notes

Carl Quintanilla and Morgan Brennan started the show with a look at markets, with the Dow on pace for its worst week since June. The anchors also brought up big businesses dealing with COVID concerns, as Apple said that its staff won’t be returning to the office until January. CNBC’s auto & airline reporter Phil LeBeau also joined with highlights from Tesla’s A.I. event yesterday, where the company announced it is working on a humanoid robot with a prototype supposedly coming ‘sometime next year.’ Also in focus: Foot Locker wrapped up a big week of retail earnings, with the stock soaring on this morning’s results, and former Cypress Semi CEO T.J. Rodgers talked the ongoing chip shortage, saying “this is going to be over by the end of this year – for most stuff we buy.” Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Robinhood’s First Earnings Since IPO, Exclusive: Cisco CEO Chuck Robbins, Toyota’s Production Cuts Aug 19, 2021

Show notes

Carl Quintanilla and Jim Cramer began with a look at the market action, with stocks coming off their worst day in a month. The anchors also hit some of the big earnings movers, including Robinhood. Shares were down after the company reported its first quarterly results since going public. Robinhood did double its revenue last quarter, but the app also warned of a slowdown in trading activity. Another big name under pressure was Cisco, with CEO Chuck Robbins joining the anchors for an exclusive interview. Later that hour, Phil LeBeau reported some breaking news as Toyota said it expects to see a drop in production due to the ongoing chip shortage, set to cut global production by around 40% in September. Shares of the automaker slid sharply on the news. 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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