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Squawk on the Street

6-Week Win Streak, Deals in Focus, Top 2024 Airline Pick 12/11/23

Squawk on the Street

CNBC

News, Business, Investing

4.1567 Ratings

🗓️ 11 December 2023

⏱️ 43 minutes

🧾️ Download transcript

Summary

Carl Quintanilla, Sara Eisen and David Faber kicked off the hour by discussing the markets, riding a 6-week win streak; This as investors get ready for a big week ahead with another CPI print and Fed meeting on deck. The anchors then shifted to a slew of M&A news, including Occidental Petroleum buying Permian producer CrownRock for $12 billion. Faber also broke down Cigna calling off its pursuit of Humana, and planning for a $10 billion stock buyback. Also in the mix; TD Cowen analyst Helane Becker discussed why she chose Delta Air Lines as her top 2024 pick in the sector, saying the company is “differentiating itself from the peer group.” Squawk on the Street Disclaimer

Transcript

Click on a timestamp to play from that location

0:00.0

It's Jim Kramer here. You're listening to the opening bell of CBC's Squawk on the Street.

0:04.6

Don't miss a minute of the action. Welcome to Squawk on the Street. I'm Carl Kinteneer with David Faber, Sarah Eisen at post nine of the New York Stock Exchange. Kramer has the morning off. Bulls trying to extend this six-week, 12-percent rally that's taken the S&P to a 52-week high. Futures choppy, though, as yields are up to about a one-week high ahead of CPI and the Fed on Wednesday.

0:25.4

Our roadmap begins with the six-week rally.

0:27.3

S&P coming off its highest close since March of 22, the stock set for a muted open.

0:32.6

Plus, we've got deals in focus this Monday morning.

0:35.2

Macy's getting a nearly $6 billion buyout offer. Sina

0:38.8

abandons its pursuit of Humana, and Oxy, it expands in the Permian Basin. And Apple's

0:45.5

bullish call, why one analyst expects it to be the first trillion dollar company next year.

0:51.1

You might have noticed our screen looks a bit different today.

0:54.3

It's all part of a new look for CNBC that we're pretty excited about.

0:57.6

Over time, we do hope it'll make it easier for you to understand the market and the stories

1:01.9

that we bring to you.

1:03.1

We're going to run through a few examples, guys, of different looks, different charts, the

1:07.2

way information is telegraphed differently.

1:09.3

The tickers a little bit different as well. Very clean. Very clean and easy to understand. Yeah. Ooh. Whoa. With some fun music. I like that. You know, people oftentimes can be somewhat resistant to change. Not us. So just give us a chance. Give us a chance. Give it all a chance. I kind of like it initially, and I'm sure it'll grow on me. Let's do dollar yen. Can we get a dollar yen in the new look? Most important chart of the day. It's up today. The dollar's strong. The yen is weak after some Bank of Japan rumors that they might not get out of negative rates forever.

1:46.6

I think that's a first place I look in the morning. That's where we should be leading the show today. Sure, dollar yen. Why not? They said pick a chart, any chart to see it in the new look. So I pick my favorite chart. Got it. All right. Well, I'll pick the favor report then because that's my favorite. I'm going to have one later today so we can do it again, but I want to get a look at it.

2:02.5

Oh!

2:03.7

Looks great.

2:04.6

Is that a new picture of you? I guess so. Yes, it is. That's a new picture. It's updated. Yes. Old. How about that? Is that what you were thinking? No, I was thinking handsome. Uh-huh. Handsome. I don't know about that.

2:17.9

Serious.

2:18.8

All right, thanks, guys.

2:19.3

I like that.

...

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