10AM Hour: Taylor Morrison CEO on Sale to Berkshire, Related Digital, Hilton & Bristol Myer Squibb CEOs 6/1/26

Squawk on the Street

CNBC

News, Investing, Business

4.0 • 566 Ratings

🗓️ 1 June 2026

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Berkshire Hathaway announces plans to buy homebuilder Taylor Morrison for $6.8B, we talk with CEO Sheryl Palmer about why the company agreed to be bought. Then the CEO of Related Digital, investing $16B in a Michigan data center, developed for Oracle as part of its Stargate project. Plus, the CEO of Hilton on the consumer and state of the travel industry. And Bristol Myers Squibb, unveiling new lung cancer drug data, its CEO joins us the from the ASCO conference.

Transcript

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0:00.0	Good Monday morning. Welcome to this walk on the street. I'm Sarah Eisen with Carl Kintania.
0:10.0	We are live at Post 9, as always, from the New York Stock Exchange.
0:13.2	David Faber joining us today from Michigan with a big interview coming up in just a few moments.
0:17.8	Related companies chairman Jeff Lau from the site of the company's
0:21.2	Stargate Data Center. Also ahead to sour the CEO at the center of the deal news of the day.
0:26.8	That would be Taylor Morrison chief, Cheryl Palmer. She's with us after the news that Berkshire
0:30.6	Hathaway is buying the home builder for nearly $7 billion. Plus, we'll talk to Hilton CEO with
0:36.6	a read on the consumer as the company launches a new brand today, focused on college towns.
0:42.9	First, those of manufacturing and construction data coming out.
0:45.6	Let's get back to Rick Santelli.
0:46.9	Hey, Rick.
0:48.4	Hi, Carl, indeed, ISM manufacturing.
0:51.1	Now, S&P remains strong.
0:53.2	House ISM for the month of May?
0:55.1	54.0. That's a full point above expectations.
0:59.0	54.0 would be the strongest reading going back to May of 22. So very similar to S&P,
1:06.3	basically a four-year high. Manufacturing, least anecdotally, based on many numbers, is starting to pick up.
1:13.0	If you look at prices paid, not such great news, but better news.
1:17.5	82.1, still lofty, but we're expecting the number around 85, sequentially, 84.6, 82.1
1:25.5	would actually be the least since May, excuse me, since March when it was 78 and
1:31.4	change. On the new orders front, well, it's still below an area of high watermark, but 56.8
1:39.2	is a strong number. We started out at 57.1. 56.8 would be the strongest since February when it was
	...

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