Squawk on the Street

Latest Episodes:

Wendy's and Clover Health Join the "Meme Stock Madness" While Bitcoin Slumps, An Exclusive With Honeywell's CEO, Southwest to Order More Boeing 737 Max Jets, and a Stunning Report on How the Wealthiest Americans Avoid Taxes Jun 08, 2021

Show notes

Carl Quintanilla, Jim Cramer and David Faber led off the show with a new twist when it comes to the "meme stock madness" -- Wendy's and Chamath Palihapitiya's Clover Health each soaring after chatter about both companies grew on Reddit's WallStreetBets forum. AMC Entertainment and GameStop also experiencing gains. On the flip side, Bitcoin and other cryptocurrencies under pressure on worries about tighter regulation. The anchors also discussed the U.S. recovering millions of dollars in crypto that had been paid to the Colonial Pipeline ransomware hackers. Southwest announcing it has agreed to add 34 Boeing 737 Max jets to its orders for 2022, bringing the total orders for that year to 234. Honeywell Chairman & CEO Darius Adamczyk appeared on the program to discuss his deal to form the world's largest quantum computing business -- looking to capitalize on what he says is projected to become a $1-trillion quantum computing industry. Carl, David and Jim had a wide-ranging discussion about a report from ProPublica: The investigative journalism group says it has obtained a vast cache of IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth - sometimes, even nothing. Also in focus: FDA Approval of Biogen's Alzheimer's drug and what it means for the stock. 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’s Big Return to the New York Stock Exchange, NYSE President Stacey Cunningham Talks Reopening Plans and Meme Stocks, G-7 Countries' Global Minimum Corporate Tax Agreement, P.E. Firms' $34B Deal, Jack Dorsey's Bitcoin Message, Jeff Bezos' Summer Space Flight, No "Plus" for Musk, and an Exclusive With the CEO of Bristol Myers Squibb Jun 07, 2021

Show notes

A big morning for "Squawk on the Street" as Carl Quintanilla, Jim Cramer and David Faber mark the show's return to the New York Stock Exchange for the first time since March 2020, discussing what it means to be back at the "Big Board", how businesses are pushing to reopen and where the reopening trade fits into the picture. NYSE President Stacey Cunningham joined the program to talk about the exchange's reopening progress as well as the volatility in meme stocks. The anchors also reacted to the G-7 agreement to pursue the Biden Administration's idea of a global minimum corporate tax rate of at least 15 percent. On the M&A front, private equity firms Blackstone, Carlyle and Hellman & Friedman team up to acquire medical supply company Medline in a $34-billion leveraged buyout. Also in focus: Twitter & Square CEO Jack Dorsey making a bullish case for Bitcoin, Jeff Bezos' plan to join a Blue Origin space flight in July, Tesla cancels production of its Model S Plaid+ vehicle, and Biogen shares rise ahead of an FDA decision on whether to approve the company's Alzheimer's drug. Bristol Myers Squibb CEO Dr. Giovanni Caforio appeared on the program to discuss his company's cancer drug pipeline -- including the future for Opdivo which has experienced slower sales growth. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

559,000 Jobs Created in May But Still Below the Consensus Forecast - We Get Reaction from President Biden's Labor Secretary. AMC Volatile After Thursday's Tumble -- What's The CEO Saying Now? Plus: Elon Musk Tweets and Bitcoin Falls, and Ackman's SPAC in Talks With Universal Music. Jun 04, 2021

Show notes

On this "Jobs Friday", Carl Quintanilla, David Faber and Morgan Brennan discussed market reaction to the much-anticipated employment report, which shows the U.S. added 559,000 jobs in May -- doubling April's numbers but still below consensus estimates. The unemployment rate fell to 5.8%. Labor Secretary Marty Walsh joined the program in a "First on CNBC" interview about the jobs report and what's ahead for the recovery, inflation and infrastructure talks. "Meme stocks madness" once again in the spotlight: Shares of AMC Entertainment volatile after tumbling on Thursday. CEO Adam Aron is urging shareholders to back his plan for the company to issue 25 million more shares. The anchors reacted to what Aron said about the plan to Trey Collins, host of the "Trey's Trades" YouTube channel. On the crypto front, Bitcoin falls after Elon Musk tweets a breakup meme. Sources telling David that a SPAC backed by Bill Ackman's Pershing Square confirms it is in talks to buy a 10-percent stake in Universal Music Group. Also in focus: Stock winners and losers including GM, Ford and Wells Fargo – and a preview of Squawk on the Street’s return to the NYSE on June 7. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

The "Meme Stock Madness" Intensifies -- AMC Tumbles After Filing to Sell Shares and Warning Investors, the IMAX CEO Reacts to the Frenzy, Plus GM & Ford Make News and Buck the Market Downtrend Jun 03, 2021

Show notes

One day after shares of AMC Entertainment closed up a whopping 95-percent, Carl Quintanilla, David Faber and Morgan Brennan led off with the big story of the morning: AMC’s stock tumbling after the theater chain filed to sell more than 11.5 million common shares "from time to time". But in its regulatory filing, AMC also warned investors about the stock's recent volatility: "Under the circumstances, we caution you against investing in our Class A common stock, unless you are prepared to incur the risk of losing all or a substantial portion of your investment." IMAX CEO Richard Gelfond joined the program and offered his take on the AMC frenzy, theater re-openings and what they all mean for his business. The anchors also discussed the regulatory picture for some of the so-called "meme stocks" with a former SEC official. General Motors and Ford among the S&P 500's best performers on a rough day for stocks: GM announcing it expects first half results to be "significantly better" than prior guidance, while Ford reports U.S. auto sales up 4.1-percent in May. Also in focus: Blackberry riding the Reddit-fueled rally – the stock up 75-percent over five days, and the picture for crypto one day after Dogecoin's 30-percent surge. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

AMC Shares Soar Again and Lead the "Meme Stock Madness", AMC CEO's "Investor Connect," Elon Musk vs. the SEC, Zoom's Results and What They Say About the Work-From-Home Trade, and KBW's CEO on the 2021 Bank Stock Rally Jun 02, 2021

Show notes

Carl Quintanilla, David Faber and Mike Santoli led off the show with another day of "meme stock madness": Shares of AMC Entertainment soaring for a second consecutive session. CEO Adam Aron reaching out to retail shareholders by unveiling "AMC Investor Connect", which includes perks such as free popcorn and special rewards for AMC shareholders who patronize the company's theaters in the United States. The anchors also reacted to what prominent media investor Mario Gabelli told CNBC about investor reaction to AMC. Also on the theater front, Goldman Sachs downgraded IMAX and Cinemark to "Sell" from "Neutral." Carl, David and Mike also discussed the latest saga involving Elon Musk and the SEC: Regulators reportedly told Tesla once in 2019 and once in 2020, that it had failed to properly approve tweets by Musk on two occasions. Zoom Video also in focus after the company's better-than-expected quarterly results and upbeat guidance. The anchors and an analyst who covers Zoom explored what's next for both the stock and the work-from-home trade. KBW CEO Tom Michaud joined the program to discuss the rally in bank stocks, which have tripled the performance of the S&P 500 so far this year. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Markets in June -- Boom or Swoon?, The Reopening Trade, AMC Soars on New Stock Sale, White House Sets Infrastructure Negotiations Deadline, SoFi Goes Public Via a SPAC Deal, Cloudera Goes Private, Plus Messages from Elon Musk and Intel's CEO on Supply Chain Pressures and the Chip Shortage Jun 01, 2021

Show notes

Carl Quintanilla, David Faber and Mike Santoli kicked off the first trading day of June with a look at the reopening trade getting stocks off to an upbeat start after a mixed month of May. AMC Entertainment shares received a major boost, soaring on the announcement of a new stock sale. The anchors discussed that development and the future for so-called "meme stocks" with two Wall Street analysts, one of which reiterated its "sell” rating on AMC. Infrastructure negotiations also in the spotlight, as the White House sets a June 7 deadline for GOP lawmakers to reach a deal. Carl, Jim and Mike also reacted to Elon Musk tweeting that Tesla vehicle prices are rising due to supply chain pressures, plus Intel CEO Pat Gelsinger telling a conference in Taipei that he thinks recovery from the chip shortage could take several years. Also in focus: SoFi begins trading on the Nasdaq after combining with Chamath Palihapitiya's "Social Capital Hedosophia V" SPAC, Cloudera agrees to be taken private by KKR and Clayton, Dubilier & Rice in a $5.3-billion, deal, and what to expect from Zoom Video's quarterly results due out after the bell. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Meme Rally Returns, Crypto Volatility, Boeing Deliveries Halted, Pres. Biden’s Budget May 28, 2021

Show notes

Carl Quintanilla, Jim Cramer and David Faber dig through the big market movers of the morning including the meme stocks. The Biden administration is set to release its first budget later today. Best Buy pointed to the hot housing market as one of the key reasons for strong sales in the fiscal first quarter. CEO Corie Barry said the company has a “unique advantage” by selling products and offering services, such as home installations. Some analysts, however, have cautioned that the retailer could see dampened demand as consumers spend less on technology and devices and more on dining out. Jim Cramer gives his take. CNBC’s Carl Quintanilla looks at the SPDR S&P Retail ETF and the stock that’s helping it move higher. Plus, Boeing fell 1.2% in the premarket on news that the jet maker had halted deliveries of its 787 Dreamliner. CNBC’s Phil LeBeau reports. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Snowflake Earnings, Medtronic CEO, Infrastructure Proposal May 27, 2021

Show notes

Carl Quintanilla, Jim Cramer and David Faber discuss the market moves, as we inch towards the end of May. Plus, David’s reporting on activist firm Engine No. 1 winning at least two board seats at Exxon following a historic battle over the oil giant’s board of directors. Plus, Biden’s economic agenda is front and center as Senate Republicans unveil their $928 billion infrastructure counteroffer to President Joe Biden today. Plus, Geoffrey Martha, Medtronic Chairman and CEO, discusses the company’s fourth-quarter earnings beat and outlook. Plus, Snowflake’s recent earnings report and how deal making will change after the pandemic. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Amazon Buys MGM, Bank CEOs Testify Before Senate Banking, Meme Rally Resumes May 26, 2021

Show notes

Carl Quintanilla, Jim Cramer and David Faber begin the morning with breaking news, as Amazon buys MGM Studios for $8.45 billion. It’s Amazon’s most ambitious move into the entertainment business and its second-largest acquisition. Amazon paid $13.7 billion for Whole Goods back in 2017. Carl, Jim and David discuss the big rally in meme stocks, as GameStop & AMC surge. Plus, the most well-known CEOs on Wall Street prepare to testify before the Senate Banking Committee at 10am ET time. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Musk Meets Miners, Amazon Closing in on MGM, IAC Completes Its Vimeo Spinoff, Lordstown Slashes Production May 25, 2021

Show notes

Carl Quintanilla, Jim Cramer and David Faber discuss the massive swings in crypto. Elon Musk announcing he met with bitcoin miners to address environmental concerns surrounding digital currencies. Plus, David’s new reporting on Amazon closing in on a deal with MGM. Shares of Lordstown getting crushed after slashing its production forecast for its EV pickup. IAC completing its spinoff of Vimeo. Plus, Carl, Jim & David discuss the other movers of the morning including, Live Nation, United, Alaska Air and the big banks. 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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