Squawk on the Street

Carl Quintanilla, Jim Cramer and David Faber discuss a tweet from the President, pushing stocks deeper in the red. President Trump suggesting delaying the election tweeting, “With Universal Mail-In Voting (not Absentee Voting, which is good), 2020 will be the most INACCURATE & FRAUDULENT Election in history. It will be a great embarrassment to the USA. Delay the Election until people can properly, securely and safely vote???” The U.S. economy saw its biggest slump in activity it has ever known in the second quarter. GDP from April to June plunged 32.9% the worst drop ever. Plus, the “Squawk on the Street” gang digs through the busiest day of earnings season from Qualcomm, UPS, P&G along with what’s coming after the bell Alphabet, Amazon, Facebook and Apple. Breaking news on the airline front, as 17 thousand Delta employees accept buyout offers. Plus, the CEO’s of ServiceNow & Yum! Brands on their company’s latest results and the impact of Covid-19 on their bottom lines. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber dig through a slew of earnings and speak with the CEOs. Stocks flat as investors focus their attention on corporate results and what’s happening today in Washington. Big Tech execs are preparing to testify before the House Antitrust Subcommittee over dominance of online platforms. Amazon’s Jeff Bezos, Apple’s Tim Cook, Facebook’s Mark Zuckerberg and Google’s Sundar Pichai will all appear. Also happening in Washington, the Federal Reserve is winding down its two-day policy meeting. Chairman Jay Powell is expected to reinforce that the Fed will do whatever it can to help the economy and labor market heal. Plus, it’s a CEO blitz. Carl, Jim and David are joined by the CEOs of Boeing, AMD, Starbucks and eBay. Hear what they’re all saying about their companies results, the impact from Covid-19 and the road ahead. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber discuss the earnings blitz and the big movers dragging down the major averages. McDonald’s reporting mixed results. Comparable restaurant sales were down 23.9% globally, but U.S. comparable sales were better than expected, falling 8.7% compared to estimates. The “Squawk on the Street” team also digging through results from Pfizer, 3M and Raytheon. The GOP unveiling its new coronavirus relief plan including wage replacement of 70% in extended unemployment benefits, replacing the $600 weekly enhancement. The new plan also includes another round of $1,200 stimulus checks and $500 payments for depends of any age. MLB commissioner Manfred says Marlins coronavirus outbreak is not a “nightmare” scenario. This following news that 13 members of the Marlins tested positive for coronavirus, which led to the postponement of their Monday game against the Orioles in Miami. Plus, breaking news, as the Fed extends its lending facility to December 31st. And the CEO of Lysol’s Parent Company joining “Squawk on the Street” to discuss his company’s results, partnership with Delta, and much more.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber discuss the big move in gold, as it hits a record high. The major averages in the green, moving higher to kick off a big week for earnings. Shares of Moderna skyrocketing, after the company said it has received an additional $472 million in government assistance for development of its COVID-19 vaccine candidate, and that a phase 3 study has now begun. Over the weekend, Treasury Secretary Steven Mnuchin saying that Republicans have finalized their latest piece of coronavirus relief legislation. The bill is worth about $1 trillion and is set be introduced Monday. Shares of Under Armour taking a hit after receiving a so-called “wells notice” from the SEC. That noticing giving details on charges it’s intending to bring to the company, related to a previously disclosed probe. The CEO of Walgreens announcing he’s stepping down from that role and will become the executive chair of the company. Plus, the CEO of Albertsons joining the “Squawk on the Street” gang to discuss his company’s earnings beat. Revenue was in line with Wall Street forecasts, while results were helped by a 26.5% jump in comparable store and digital sales. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The “Squawk on the Street” team discusses the continued selloff after yesterday’s losses. Tensions continuing to ramp up as China orders the closure of a U.S. consulate in Chengdu, a retaliation move after Washington shut the Chinese consulate in Houston earlier this week. Shares of Intel getting hammered after saying its next-generation chips will come out 6 months later than expected. The company did report earnings that were 12 cents above estimates, while its revenue also came in above forecasts. On the flip side, rival AMD, getting a boost because it already has a “7nm” chip on the market. Plus, Goldman Sachs reaching a $3.9 billion dollar settlement with the Malaysian government over its multi-billion dollar 1MDB scandal. The CEO of Verizon, Hans Vestberg, joins the “Squawk on the Street” team to discuss his company’s results after beating on both the top and bottom line. Vestberg also commenting on the negative impact from COVID-19, ad spending revenues and the road ahead. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber dig through the big earnings mover of the morning. Tesla popping after the company scored a 4th straight quarter of profit. Twitter reporting a 34% jump in monetizable daily active users compared to a year ago. Microsoft moving lower, despite beat analyst expectations on earnings and revenue. The CEO of Southwest joins the “Squawk on the Street” team to discuss his company’s results, the future of the airline industry and getting people back in the air again. Hear his take on the pandemic and how it’s impacting consumer habits, plus his push for the government to mandate masks. Plus, in his first interview since taking over as CEO, AT&T’s John Stankey joins the show to discuss the road ahead for the company after reporting results. The company’s earnings beat, while revenue was in line with forecasts. Hear what he had to say about how the pandemic impacted results across all of AT&T’s businesses.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber discuss the move in stocks as U.S.-China tensions take center stage. The State Department ordering China to close its consulate in Houston, Texas. China’s foreign ministry spokesperson condemning the action and warning of firm countermeasures if the U.S. does not reverse its decision. Pfizer and the government striking a deal in which the company would provide 100 million doses of a COVID-19 vaccine being developed with partner BioNTech, with an option for the government to acquire an additional 500 million doses. The vaccine would be free for Americans. Breaking news, as Slack files an EU competition complaint against Microsoft. Spotify striking a licensing deal with Universal Music Group sending shares skyrocketing. Plus, the CEO of Liberty Media joins David to discuss the return of the MLB, podcasting and more. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber discuss the surge in the major averages, getting a boost from the morning’s earnings movers. IBM reporting better-than-expected second-quarter earnings. Shares of Coca-Cola moving higher after announcing its profit fell 33% in the second quarter, but expressed optimism on over demand as lockdown measurers are lifted. Plus, David’s exclusive reporting on eBay agreeing to sell its classified-ads business to Adevinta for $9.2 billion in cash and stock. Breaking news out of Washington as House Speaker Pelosi says she wants to see a stimulus bill by the “end of next week.” Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla and Jim Cramer discuss the surge in coronavirus cases across the U.S. A busy data morning on possible vaccines as Pfizer-BioNTech’s potential coronavirus vaccine shows promise after releasing additional data. Plus, Oxford University’s coronavirus vaccine with AstraZeneca showing positive immune responses in its early trial. Shares of Moderna in focus after J.P. Morgan downgraded the drug maker’s stock to “neutral” from “overweight” in a valuation call, given the stock’s nearly fivefold gain year-to-date. Facebook CEO Zuckerberg says he has no deal with President Trump in an interview with Axios. Zuckerberg saying, "I’ve heard this speculation, too, so let me be clear: There's no deal of any kind… Actually, the whole idea of a deal is pretty ridiculous. I do speak with the president from time to time, just like I spoke with our last president and political leaders around the world.” Plus, Chevron CEO Michael Wirth, joins Jim and Carl to discuss his company’s $5 billion dollar deal with Noble Energy.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber discuss the U.S. shattering its daily record for coronavirus infections, reporting more than 77,000 new cases. Florida, South Carolina and Texas all reporting their biggest one-day spikes. Plus, the mask mandate debating is heating up, as the Governor of Georgia sues the Mayor of Atlanta. And investors turning their attention to corporate earnings. Netflix delivered stronger than expected Q2 subscriber growth of over 10M, but lower than expected earnings and its forecast of the addition of 2.5M subs in Q3, half analysts’ forecasts, sent shares plummeting. The streaming giant also announcing Ted Sarandos as Co-CEO, joining Reed Hastings at the top. Facebook CEO Mark Zuckerberg interviewing Dr. Anthony Fauci. Zuckerberg making rare comments, saying he’s been disappointed with President Trump’s handling of Covid-19.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.