Musk’s Stock Sales; Pfizer’s Covid Pill; Slack and the Newest Normal

Bitcoin fell to its lowest in 16 months today, leading a rush out of risk assets, while the collapse of TerraUSD, a so-called stablecoin, underscored the strain on cryptocurrency markets. Bitcoin, the world’s largest cryptocurrency, has lost a third of its value in the last eight sessions. Disney reported stronger-than-expected growth in streaming subscribers across all of its media platforms, but the stock fell today after the company warned it’s still seeing the impact of Covid on its theme parks in Asia. Puck’s Matthew Belloni and Tom Rogers, Engine Media executive chairman and founder of CNBC, react to Disney’s latest quarterly earnings report and the streaming wars. CNBC’s Robert Frank reports how several corporate insiders and executives managed to avoid the tech wreck with big payouts. WeWork’s first-quarter loss narrowed sharply as gross desk sales reached pre pandemic levels with the gradual return of employees in the U.S. to in-person work. Plus, Beyond Meat shares tumbled after it’s jerky launch leads to wider-than-expected losses.In this episode:Matthew Belloni, @MattBelloniRobert Frank, @robtfrankAndrew Ross Sorkin, @andrewrsorkinJoe Kernen, @JoeSquawk Becky Quick, @BeckyQuickZach Vallese, @zachvallese Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

12 Touko 202235min

Inflation rose again in April, continuing a climb that has pushed consumers to the brink and is threatening the economic expansion. The consumer price index accelerated 8.3% in April, more than the 8.1% estimate and near the highest level in more than 40 years. Bitcoin dropped below $30,000 for the second time this week before turning positive as the hot inflation report causes investors to shun risky assets. Purdue University President, Mitch Daniels, former OMB director and former governor of Indiana, discusses the opportunities facing new college graduates amid the U.S.’s tight labor market. Dr. Scott Gottlieb, former FDA commissioner and CNBC contributor, breaks down China’s pandemic response and rising Covid cases in the Northeast. Plus, job cuts at Carvana and Got Milk? Starbucks is under fire from actor James Cromwell for charging its customers extra for vegan milk. That won’t do, Starbucks, that won’t do.In this episode:Mitch Daniels, @purduemitchScott Gottlieb, @ScottGottliebMDAndrew Ross Sorkin, @andrewrsorkinJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

11 Touko 202231min

The technology sector attempted a comeback today after suffering some of the biggest losses in recent weeks. Tim Armstrong, founder and CEO of tech startup Flowcode and former CEO and chairman of AOL, discusses the latest tech sell-off. Shares of Peloton Interactive plummeted 15% after reporting a wider-than-expected loss in the recent quarter. AMC Entertainment posted a narrower-than-expected loss during the first quarter. CNBC’s Robert Frank reports Andy Warhol’s 1964 portrait of Marilyn Monroe sold for $195 million at Christie's - the second-most expensive piece of art ever auctioned. Plus, turn off your toilet heaters! CNBC’s Brian Sullivan reports a few tips the Japanese government has for conserving energy as global demand continues to outstrip supply.In this episode:Tim Armstrong, @tim_armstrongRobert Frank, @robtfrankBrian Sullivan, @SullyCNBCAndrew Ross Sorkin, @andrewrsorkinJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

10 Touko 202229min

The S&P 500 is at a fresh 52-week low as the market sell-off continues. Minneapolis Federal Reserve President Neel Kashkari says he’s confident inflation will come back to normal - though it’s taking longer than he expected. His comments come less than a week after the FOMC raised benchmark rates by half a percentage point. The 50-basis-point hike was the largest increase in 22 years and sets the stage for a series of similar-sized moves in the months ahead. Alexis Ohanian, Reddit co-founder and Seven Seven Six founder, breaks down opportunities in the public and private tech sector. Plus, Uber plans to slash spending on marketing and incentives and Dr. Strange ushers in the Summer box office season.In this episode:Neel Kashkari, @neelkashkari@MinneapolisFedAlexis Ohanian, @alexisohanianAndrew Ross Sorkin, @andrewrsorkinJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickZach Vallese, @zachvallese Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

9 Touko 202241min

April’s job growth was strong and wage gains were solid, yet for some reason fewer Americans were working or looking for jobs than in March. Saira Malik, chief investment officer for Nuveen, Nela Richardson, chief economist at ADP, Austan Goolsbee, former CEA chairman and Booth School of Business professor, and Georgetown University’s Nada Eissa react to the better-than-expected April jobs report. Peloton is targeting potential investors, including industry players and private equity firms, to take a stake in its business of around 15% to 20% according to The Wall Street Journal. Galaxy Digital CEO Mike Novogratz discussed the recent market sell-off, and the future of crypto. Plus, Boeing exits Chicago and Spotify makes a $50 Million investment after shares hit a record low.In this episode:Mike Novogratz, @novogratzNela Richardson, @NelaRichardsonAustan Goolsbee, @Austan_GoolsbeeAndrew Ross Sorkin, @andrewrsorkinJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

6 Touko 202223min

Stocks fell sharply Thursday and erased large gains seen in the previous session after the Federal Reserve raised rates by half a point. CNBC’s Steve Liesman breaks down the Federal Reserve’s move – and his role in the initial relief rally. Tesla CEO Elon Musk has lined up additional funding for his takeover of social media giant Twitter, according to a new filing. Meanwhile Bill Gates has warned that Elon Musk could make Twitter “worse” after Musk accused him of shorting Tesla stock last month. Facebook parent Meta is slowing the pace of hiring as it reckons with its weakest revenue growth on record and ongoing business challenges, such as Apple’s privacy changes and the war in Ukraine. Glenn Fogel, president and CEO of Booking Holdings, breaks down the company’s latest quarterly earnings report and summer travel demand. Plus, happy Cinco de Mayo!In this episode:Steve Liesman, @steveliesmanGlenn Fogel, @BookingHoldingsAndrew Ross Sorkin, @andrewrsorkinJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

5 Touko 202229min

Uber reported surging revenue during the first quarter as the ride-hailing company said it’s recovering from its coronavirus lows and wouldn’t have to put up “significant” investments to keep drivers on the platform. CNBC’s Deirdre Bosa reported on Uber and Lyft's latest first-quarter earnings report. John Zimmer, president and co-founder of Lyft, also discussed the ride-hailing company’s latest quarterly earnings report and broke down how high gas prices are impacting the company and high-cost driver incentives. Elon Musk has told potential Twitter investors that he can return the social media company to public ownership in as little as three years after buying it, according to the Wall Street Journal. Gary Vaynerchuk, founder and creator of VeeFriends, discusses his outlook for the future of nonfungible tokens, or NFTs. Plus, streaming platform Roku is angling to buy a piece of Starz in a bid with Apollo Global Management. In this episode:John Zimmer, @johnzimmerGary Vaynerchuk, @garyveeDeirdre Bosa, @dee_bosaAndrew Ross Sorkin, @andrewrsorkinJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

4 Touko 202239min

Legendary investor Paul Tudor Jones, CIO at Tudor Investments, discusses the Robin Hood Foundation’s annual benefit to fight poverty in New York City, markets, the Federal Reserve and more. Jones says he “can’t think of a worse environment than where we are right now for financial assets.” Employees at an Amazon warehouse on Staten Island overwhelmingly rejected a unionization effort, a significant victory for the e-retailer a month after a nearby fulfillment center became the first in the country to vote to join a union. A leaked draft of a Supreme Court opinion that would overturn a half-century of abortion rights triggered shock waves in Washington. Plus, Campari sales jumped in the first three months of the year -- as Joe Kernen dreams of an Aperol spritz in the sun.In this episode:Paul Tudor Jones, @ptj_officialAndrew Ross Sorkin, @andrewrsorkinJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

3 Touko 202238min