Squawk on the Street

Carl Quintanilla, Jim Cramer and David Faber breakdown the mixed morning for markets. Reddit traders honing in on their next pick, Rocket. That stock more than doubling over the past 3 sessions, but falling this morning over 10%. Plus, a vaccine boom in the U.S. President Biden announcing the U.S. will have enough vaccines for 300 million adults by the end of May, two months sooner than previously promised. Big business is betting on ESG, as FedEx commits to carbon-neutral operations by 2024 and ExxonMobil kicks off investor day focusing on its newly created business, ExxonMobil Low Carbon Solutions. Oscar Health getting ready to debut on the NYSE, after pricing above the already-raised range. Carl, Jim and David discuss breaking news, as Apollo Global announces it’s buying crafts retailer Michaels in a $5 billion deal. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber discuss the pause in stocks, after a mega market rally where the S&P 500 notched its best day since June. More developments on vaccine distribution. Reports that President Biden is set to announce the administration-brokered a ‘historic partnership’ between Merck and J&J. Merck will be dedicating two facilities in the U.S. to the vaccine effort, which could potentially double the supply compared with what J&J would be able to achieve on its own. Plus, the “Squawk on the Street” gang discussing the big movers of the morning. Zoom shares surging after the company beat expectations and issued strong guidance. Target reporting results that beat on both the top and bottom lines. Comparable store sales jumped 20%, while digital sales more than doubled. It’s SPAC-mentum. A new note out of Goldman Sachs digs through the eye popping number of SPACs and how much they have raised. Goldman’s David Kostin writing, “if the current pace of issuance persists, 2021 will surpass the 2020 full-year total before the end of March.” Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

On the first trading day of March, Carl Quintanilla, Jim Cramer and David Faber took an in-depth look at a big stock market rally to begin the month as bond yields pulled back. Johnson & Johnson also in the spotlight as the company began shipping its one-shot COVID-19 vaccine, which received regulatory approval for emergency use in the U.S. The anchors reacted to what J&J Chairman & CEO Alex Gorsky had to say about how many doses could be delivered in the U.S. by June. ExxonMobil shares rise on news that David broke: Activist investor Jeffrey Ubben and Atairos CEO Michael Angelakis have joined the oil giant's Board of Directors. Also in focus: Warren Buffett admits to a "mistake" in his annual letter to Berkshire Hathaway shareholders, and Jane Fraser takes over as CEO of Citigroup -- becoming the first woman to run a major U.S. bank. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

On the final trading day of February, Carl Quintanilla, Jim Cramer and David Faber explored what to expect from stocks after Thursday's sell-off was sparked by concerns about higher yields. They also dug deep into earnings news from the likes of Salesforce and Airbnb and reacted to what the CEOs of both companies told CNBC. Johnson & Johnson's one-shot COVID-19 vaccine also in focus as a key FDA panel meets on whether to recommend it for earlier use. The anchors also weighed in on what Pfizer CEO Albert Bourla told NBC News' Lester Holt about how long it might take to tweak its vaccine to account for COVID variants. The GameStop saga rolls on: The stock continuing its surge for the week as it caps a rough February during the Reddit-fueled trading frenzy. HP CEO Enrique Lores joined the program to discuss his company's strong quarterly results and upbeat guidance -- as sales of laptops jump in wake of pandemic-driven work-from-home trends. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber led off the show with an in-depth look at the GameStop frenzy -- the stock surging after it doubled late in Wednesday's trading session. Reddit-fueled stocks such as AMC Entertainment also jump. The anchors get into what investors should make of the wild ride -- as well as an ice cream cone tweet by major GameStop shareholder Ryan Cohen. They also discussed Twitter's long-term guidance which gave the stock a boost, Nvidia's quarterly results and the chip supply shortage, and ViacomCBS' streaming strategy for "Paramount+". Shake Shack Founder and Union Square Hospitality Group CEO Danny Meyer joined the program to talk about taking USHG's SPAC public. Also in focus: A double dose of news involving Pfizer's COVID-19 vaccine. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber discussed fund manager Cathie Wood buying into Tesla's recent sell-off – news that sent the stock higher – and that her fund also experienced major outflows. The anchors dig deep into her investment strategy. They also reacted to the clash between Barstool Sports CEO Dave Portnoy and Robinhood CEO Vlad Tenev over the GameStop saga. Johnson & Johnson in the spotlight after FDA staff found the company's one-dose COVID-19 vaccine to be safe and effective, putting it one step closer to receiving approval for emergency use. Marriott International's new CEO Tony Capuano joined the program to discuss the future for his company and the travel industry amid the pandemic as COVID vaccinations increase. Also in focus: Square’s $170-million Bitcoin purchase, plus what to expect from a White House meeting on the global chip shortage. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber discussed big M&A news: Electric vehicle maker Lucid Motors confirmed it is going public via a merger with Churchill Capital IV -- a SPAC deal that will bring about $4.5-billion in cash to the company's balance sheet. Lucid Motors CEO Peter Rawlinson appeared on the program to discuss the deal as well as his views on Lucid's competition including Tesla. This as shares of Tesla extended Monday's losses and participated in another day of steep selling in the tech sector. The anchors also looked ahead to Fed Chair Powell's Capitol Hill testimony on the economy as well as the potential effect of the COVID vaccination rollout on stocks. Also in focus: Bitcoin falling further below the $50,000 mark, earnings from Home Depot and Macy's, plus an interview with Medtronic CEO Geoffrey Martha on the company's quarterly results and where the pandemic fits into the picture. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber discussed Boeing shares down sharply after an engine failure on one of United Airlines' Boeing 777 jets, resulting in the FAA ordering inspections of some of the jets and United grounding a number of them. The anchors also explored the rotation into value and what passage of a $1.9-trillion COVID relief package could mean for certain stocks. David interviewed former General Electric CEO Jeff Immelt, who discussed his tenure as head of GE -- a period in which the stock tumbled significantly. Also in focus: Bitcoin pulls back from all-time highs after Elon Musk tweeted that prices for the cryptocurrency "seem high". Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

The opening hour of CNBC’s "Squawk on the Street" with Carl Quintanilla, Jim Cramer and David Faber is broadcast each weekday from the floor of the New York Stock Exchange, on site at the opening bell with the up-to-the-minute news investors need to know and interviews with the most influential CEOs and greatest market minds. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

The “Squawk on the Street” team discusses what can be expected during the GameStop hearing today on Capitol Hill. The House Financial Services Committee is convening at noon to hear from the major players of the story. Set to testify this afternoon, Robinhood CEO Vlad Tenev, Melvin Capital CEO Gabriel Plotkin, Reddit CEO and co-founder Steve Huffman, Citadel CEO Kenneth Griffin and Keith Gill, also known as Roaring Kitty. Plus, keeping a close eye on the deep freeze in Texas that’s going on day 6. The weather has shut about one-fifth of the nation’s refining capacity and closed oil and nat gas production across the state. Oil prices are continuing to rise on fears the freeze could continue for some time. Shares of Walmart falling on an earnings miss. The retailer saying it sees sales growth slowing in the year ahead. A bright side for the big-box retailer? Its e-commerce sales in the U.S. grew by 69% and same-store sales in the U.S. grew by nearly 9%. New thoughts on the South African virus variant that’s continuing to spread. A lab study suggests that the variant may reduce antibody protection from the Pfizer/BioNTech vaccine by two-thirds, and it’s not clear if the shot will be effective against the mutation, the companies said Wednesday. Plus, the “Squawk on the Street” team is joined by the CEO of Analog Devices on the chip supply chain and his company’s results. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.