Apple and Amazon Tumble as Q3 Disappoints the Street, Facebook's "Meta" Name Change, Exclusive With Starbucks' CEO and Big Oil's Profit Picture

Carl Quintanilla, Jim Cramer and David Faber led off the show with shares of Apple and Amazon each taking a hit on earnings-related news. Apple missed on the top line in the third-quarter while Amazon posted weaker-than-expected Q3 results and disappointed the street with its holiday quarter guidance. Both tech giants impacted by supply chain woes. The anchors explored how investors should approach big tech now. Carl, Jim and David also looked at the road ahead for Facebook one day after it announced it is changing its corporate name to Meta -- and what highlighting a "metaverse" platform could mean for the stock. Starbucks CEO Kevin Johnson appeared on the program in an exclusive interview: The stock taking a hit as an earnings beat was overshadowed by a quarterly revenue miss, with sales growth slowing in China due to the COVID-19 Delta variant outbreak. Johnson explained Starbucks' strategy for navigating the pandemic and the supply chain crisis. Also in focus: Exxon Mobil and Chevron earnings reaching multi-year highs, Exxon's updated ESG strategy, plus sources telling David that Coca-Cola is expected to announce an $8-billion deal to acquire sports drink maker BodyArmor. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.