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

Disney CEO Bob Iger’s apparent openness to selling Hulu marks a stark reversal in strategy for the company. Iger said Thursday that “everything is on the table” with regard to Hulu’s future. Matt Belloni, Puck founding partner and author, discusses how Disney will treat Hulu, why another company wouldn’t partner with Hulu and more. SEC chair, Gary Gensler, discusses the recent crackdown from the SEC on Kraken, how the company’s operations differ from other yield-based products and potential climate and crypto regulation. Shares of Lyft are falling after the company reported guidance for its first quarter of 2023 that was short of analyst expectations. Plus, Adidas shares tank after company issues warning over unsold Yeezy stockIn this episode:Gary Gensler, @GaryGenslerMatt Belloni, @MattBelloniBecky 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.

10 Feb 202333min

Disney says it will slash 7,000 jobs from its workforce and plans to cut $5.5 billion in costs, including $3 billion in content savings. CEO Bob Iger says the restructuring is a “significant transformation” that will maximize the potential of their creative teams. Apple co-founder, Steve Wozniak, discusses the power of artificial intelligence, the metaverse, Tesla, and his long career at Apple. Plus, how the rich are saving billions in taxes. ProPublica Reporter, Paul Kiel, says some wealthy Americans are using a century-old law against "wash sales" - selling and buying shares in a company in a short period of time.In this episode:Steve Wozniak, @stevewozPaul Kiel, @paulkielBecky 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.

9 Feb 202334min

President Biden delivered his State of the Union address to a lively congressional audience. Joe Kernen, Becky Quick, and Andrew Ross Sorkin break down the fireworks and the content with former Republican Congressman Mick Mulvaney and former Democratic Senator Heidi Heitkamp. After a big financial quarter, Uber CEO Dara Khosrowshahi shares his vision for the road ahead (hint: EVs!), consumer spend, and the inflation squeeze. Plus, Microsoft is rolling out a new and AI chatbot-enabled version of Bing, and CNBC’s Steve Liesman analyzes the investor reaction to Federal Reserve Chair Jay Powell’s comments on American jobs and inflation this week.  In this episode:Dara Khosrowshahi, @dkhosHeidi Heitkamp, @HeidiHeitkampMick Mulvaney, @MickMulvaneySteve Liesman @SteveliesmanBecky 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.

8 Feb 202337min

In a this super-sized episode, Speaker of the House Rep. Kevin McCarthy (R-CA) sits with Joe Kernen at the Capitol for an extended interview ahead of President Biden’s State of the Union Address. Speaker McCarthy discusses his political agenda, bipartisan negotiations for the debt ceiling, and America’s geopolitical and economic paths forward. In his first interview in over a year, Activision Blizzard CEO Bobby Kotick discusses his company’s quarterly performance, as well as the stalled deal for Microsoft to acquire the gaming giant. Kotick also addresses ATVI’s $35m settlement with the SEC over claims that the company violated federal whistleblower protections and failed to maintain adequate disclosure standards over workplace misconduct. Plus, AMC is now pricing up tickets for premium movie theater seats, and Google has released its answer to ChatGPT: Bard AI.  In this episode:Rep. Kevin McCarthy, @SpeakerMcCarthyBobby Kotick, @BobbyKotickBecky 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.

7 Feb 202346min

A suspected Chinese spy balloon was shot down by the U.S. military over the weekend, as tension between both countries escalates. Member of the Council on Foreign Relations Michelle Caruso-Cabrera and partner at The Rhodium Group Daniel Rosen discuss the geopolitics at play, the repercussions of the incident, and the role the American public played in Washington’s response to the surveillance balloon. As the economy digests January’s blowout January jobs report, Allianz and Gramercy advisor and president of Queens’ College Mohamed El-Erian discusses the Federal Reserve’s 25 basis point rate hike and the rate hikes likely still to come. In a candid conversation, El-Erian offers his own preferred course of action for the central bank, and raises concerns about the long-term implications of the Fed’s suspected strategy. Plus, Elon Musk says Twitter is “trending” to breakeven.  In this episode:Michelle Caruso-Cabrera @MCaruso_CabreraMohamed El-Erian @elerianmBecky 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.

6 Feb 202333min

In a surprisingly strong report, the Labor Department revealed the U.S. economy added 517,000 jobs in January 2023, and an unemployment rate drop to 3.4%, the lowest level since 1969. CNBC’s Rick Santelli, Steve Liesman, and Andrew Ross Sorkin consider what the strong numbers mean for the Federal Reserve’s strategy to cool inflation. Among the employed, CNBC’s Robert Frank reports a rise in office attendance across U.S. cities. Plus, Chevron announced a $75 billion buyback program and a dividend boost in its quarterly report, and the oil giant’s giant profits are sparking renewed backlash from the White House. CEO Mike Wirth joins Joe Kernen and Becky Quick before tee-time at the Pebble Beach Pro-Am to discuss his company’s financial results and shareholder returns, and to address pressure on big oil from President Biden. After Starbucks reported a miss on earnings this quarter, CFO Rebecca Ruggeri shares her outlook for the company’s next quarter, despite weakness in international sales amid surging Covid cases in China.  In this episode:Robert Frank, @robtfrankBecky 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.

3 Feb 202329min

The Federal Reserve has raised interest rates 25 basis points in its eighth hike since March 2022. Bridgewater founder and billionaire hedge funder Ray Dalio digests the Fed decision, the relative attractiveness of cash, bonds, and equities, and the value–real and perceived–of crypto. In an extended interview exclusive to CNBC, Dalio warns that we could be at the brink of an economic war with China. Plus, Julia Boorstin reports on Meta’s mega fourth quarter results, including what’s in store for the platform and U.S. scrutiny on TikTok. In this episode:Ray Dalio, @RayDalioJulia Boorstin, @JBoorstinMelissa Lee, @MelissaLeeCNBCMike Santoli @michaelsantoliAndrew 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.

2 Feb 202338min

Ark Invest CEO and CIO Cathie Wood shares her big investing ideas for 2023 after her flagship fund reported its best month ever. Ark Innovation ETF notched a near-28% bump in January, but for the last two years, the fund is still down 72%. Wood discusses the wind-down of inflation and her bet that ChatGPT is just the beginning of a new AI era. Even Google is exploring ChatGPT-like technology, asking employees to test some of its competitors. Plus, Snap offered weak guidance for its next quarter, and its own slowdown in digital ad spend is a warning signal for other social media stocks. And, after ExxonMobil reported record breaking profits in 2022, the White House is challenging its dividends for shareholders.  In this episode: Cathie Wood, @CathieDWoodKelly Evans, @KellyCNBCMike Santoli @michaelsantoliAndrew 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.

1 Feb 202328min