ExxonMobil’s Record Profit, EV Price Wars, & Thwarting the ‘Texas Two-Step’ 01/31/23
ExxonMobil reported a record breaking $55.7B profit for 2022. CEO Darren Woods discusses the results and global oil policy, and warns that gas prices will rise again, while demand and supply are light. Ford and Tesla have slashed prices to remain competitive in the burgeoning electric vehicle landscape; WSJ reporter Tim Higgins explains the EV price wars and the road ahead for each player. Plus, the Biden administration is cracking down on Medicare private plans, and a U.S. appeals court has thwarted Johnson & Johnson’s strategy for handling its talc lawsuits, a plan known as the ‘Texas two-step.’ In this episode:Darren Woods, @exxonmobilTim Higgins, @timkhigginsBecky Quick @BeckyQuickAndrew Ross Sorkin, @andrewrsorkinKatie 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.
31 Jan 202331min
Market Macro, An Auto Alliance Reset, & Asia’s Tech Moves 01/30/23
Ahead of this week’s Fed meeting, jobs data, and tech earnings results, head of US Equity and Quantitative Strategy at BofA Securities Savita Subramanian zooms out of the market minutia to paint the big economic picture for short term and buy-and-hold investors alike. TikTok CEO Shou Zi Chew has agreed to testify before U.S. Congress in March, as scrutiny on the China-based app heightens on Capitol Hill and on America’s university campuses. Plus, Renault and Nissan are rethinking their decades-old alliance, Chinese search engine Baidu is launching an AI bot similar to ChatGPT, and Samsung is reportedly considering cutting semiconductor production, as demand softens. In this episode:Andrew Ross Sorkin, @andrewrsorkinKayla Tausche, @kaylatauscheMike Santoli @michaelsantoliKatie 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.
30 Jan 202329min
Tech’s Troubles: Intel, TikTok, Layoffs, & MSG Security 01/27/23
Universities and the U.S. government have heightened scrutiny on TikTok, exploring bans of the China-based app. Foreign affairs columnist for The New York Times Tom Friedman discusses the risks of TikTok and other social media, and how the U.S. should handle its relationship with China. As layoffs across tech pile up, Jason Greer, Greer Consulting founder and president, and Jessica Kriegel, chief scientist of workplace culture at Culture Partners, discuss the executive strategy of job cuts, as well as the overall job market. Plus, Chipotle’s hiring, Intel reported a dismal quarter, and facial recognition software at Madison Square Garden has raised alarm bells for many. In this episode:Jason Greer, @LaborDiversityJessica Kriegel, @jessica_kriegelTom Friedman, @tomfriedmanJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinKatie 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.
27 Jan 202333min
Starwood Capital’s Barry Sternlicht: Buybacks, Job Cuts, Rate Hikes, & ‘Rich-cession’ 01/26/23
In an extended interview, Starwood Capital Chairman and CEO Barry Sternlicht offers his outlook on a recession timeline, the Fed’s rate raising playbook, and the U.S. labor market. A real estate and investing mogul, Sternlicht explains what the housing market reveals about America’s economic health. Tesla reported record revenue for the fourth quarter; CNBC’s Phil Lebeau reports the results and shares the highlights from Elon Musk’s comments on the earnings call. Plus, IBM is making job cuts, Chevron is making a big stock buyback, and Donald Trump is back on social media. In this episode Phil Lebeau, @LebeaucarnewsBecky Quick @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinKatie 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.
26 Jan 202333min
Musk’s Trial, Microsoft’s Guidance, & Mike Pompeo’s Foreign Policy Reflections 01/25/23
Tesla’s CEO is under oath this week, after shareholders sued him for his tweets in 2018. Axios business editor Dan Primack breaks down Elon Musk’s time in federal court, where he’s defending his infamous “funding secured” tweet. Primack considers Musk’s leadership and the faith his Tesla shareholders are willing to put in him. In a conversation about his new book, “Never Give an Inch,” former Secretary of State Mike Pompeo discusses Russia’s war in Ukraine and the roles of other global powers in ending it. Pompeo reflects on the foreign policy that’s gotten the United States where it is today. Plus, CNBC’s Steve Kovach reports on Microsoft’s weak guidance in its latest financial report, and Rupert Murdoch is calling off a big Fox family reunion. In this episode:Dan Primack, @danprimackSteve Kovach, @stevekovachBecky Quick @BeckyQuickJoe Kernen, @JoeSquawkKatie 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.
25 Jan 202333min
‘On the Ticket’: Swifties, Antitrust, & Amazon Rx 01/24/23
Two months after the Taylor Swift-Ticketmaster debacle, the Senate Judiciary Committee is conducting a hearing on competitiveness in the ticketing industry. Sen. Richard Blumenthal (D-CT) and Sen. Marsha Blackburn (R-TN) share their priorities during the hearing, including antitrust concerns and consumer protections. CNBC’s Bertha Coombs reports on Amazon’s new prescription offering for Prime members: RxPass. Plus, Alphabet CEO Sundar Pichai is defending Google’s massive layoffs while the Department of Justice zeroes in on the company’s dominance in ‘search.’ In this episode:Marsha Blackburn, @MarshaBlackburnRichard Blumenthal, @SenBlumenthalBertha Coombs @berthacoombsBecky Quick @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinKatie 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.
24 Jan 202321min
Haircuts in Tech, Activists at Salesforce, & Debt Ceiling Drama in DC 01/23/23
Congress is working to find a bipartisan path to averting a debt default; the U.S. has hit its borrowing cap of $31.4T, and it’s up to lawmakers to raise the debt ceiling or find another solution before the Treasury Department’s “extraordinary measures” run out in the summer, and the United States cannot pay its bills. PIMCO Head of Public Policy Libby Cantrill discusses the standoff in Congress and compares today’s debt ceiling drama with the standoffs in previous years. Tech companies have announced layoffs en masse, and Gene Munster of Deepwater Asset Management (formerly Loup) says the workforce cuts are still underway. Plus, activist investors are reportedly taking stakes in Salesforce, which could signal big changes ahead for the tech company. In this episode:Gene Munster: @munster_geneBecky Quick @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinCameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
23 Jan 202329min
Squawk Pod Reports from Davos: Moderna’s Stephane Bancel 01/21/23
In a special episode of Squawk Pod, Joe Kernen, Becky Quick, and Andrew Ross Sorkin are at the World Economic Forum in Davos, Switzerland, where they’re speaking with Moderna CEO Stephane Bancel. Three years after the first case of Covid-19 was detected in the United States, Bancel recalls the journey to vaccinating the global public, and Moderna’s newest vaccine trials for RSV.In this episode:Stephane Bancel, @moderna_txBecky Quick @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinCameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
21 Jan 202313min
