Carl Quintanilla, Jim Cramer and David Faber led off the show with an in-depth look at a much-anticipated IPO: Online trading platform Robinhood going public after pricing shares at $38 each. That's at the low end of the expected range but values the company at about $32-billion. Goldman Sachs – one of the lead investment banks on the IPO -- had not fully allocated shares of Robinhood until shortly before the opening bell.
The anchors explored what investors can expect and how to evaluate Robinhood's debut. On the earnings front, Facebook shares fell after the tech giant said revenue growth will slow during the second half of the year -- overshadowing
better-than-expected quarterly results. Staying with tech: A federal grand jury charged Nikola founder Trevor Milton with three counts of criminal fraud for making false and misleading statements to investors about the electric video startup.
Also in focus: Ford shares rise after the automaker surprises Wall Street analysts by posting a quarterly profit, new record highs for stocks, and ServiceNow CEO Bill McDermott discusses his company's better-than-expected quarterly results –
the workflow management software provider helped by a jump in subscription revenue. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com
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Squawk on the Street