Big Earnings Tuesday, Tesla Beats the Street -- and Musk Takes Aim at Apple, Interviews with the CEOs of General Electric and Raytheon Technologies on Quarterly Results, and Chinese Tech Stocks Tumble on Beijing's Crackdown.

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 27 July 2021

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla, Jim Cramer and David Faber focused on a busy morning full of earnings news by highlighting Tesla's better-than-expected quarterly results. They discussed Elon Musk's message on chip shortages and what Jim would have liked to hear from Musk on Tesla's earnings call. The anchors also reacted to Musk's comment on the call in which he takes aim at Apple without mentioning the company by name. Shares of General Electric jumped on upbeat results and positive free cash flow for the second quarter. GE Chairman & CEO Larry Culp appeared on the program to discuss his company's numbers as well as the challenges posed by supply constraints. Raytheon Technologies Chairman & CEO Greg Hayes joined the show exclusively to discuss everything from his company's earnings and guidance to his outlook for business travel, in light of Raytheon's role as an aircraft engine maker. Also in focus: Earnings movers including UPS and 3M, Chinese tech stocks including Alibaba and Tencent extend losses as Beijing's regulatory crackdown intensifies, plus, inflation's effect on the homebuilding/home improvement stocks. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0	Market Insight and Analysis. You're listening to the opening bell of CNBC, Squawk on the Street.
0:12.8	Good Tuesday morning. Welcome to Squawk on the Street. I'm Carl Cantonia with Jim Kramer, David Faber at the New York Stock Exchange.
0:18.2	Big show ahead, the CEOs of both GE and Raytheon Tech,
0:21.7	as earnings from the industrial sector like 3M and UPS also roll in, Apple, Google, Microsoft
0:26.8	on deck tonight, K. Schiller, home prices on the bottom of your screen, and futures are off the
0:31.7	early lows as the major indices are on a five-day win streak. Our roadmap begins with Tesla's
0:36.7	record quarter, blowing past expectations.
0:39.1	Elon Musk says the chip supply chain challenges remain key to continued growth.
0:44.3	Plus, we are keeping an eye on those big industrials, GE, lifting its full-year-free cash flow
0:49.3	target on hopes for a recovery.
0:51.7	Right.
0:52.1	And that Chinese stock crumble, Hong Kong's Hangseng, falling more than
0:56.0	8% in just a couple of days. Jim, we got a lot of kindling to work with. Oh, do we ever.
1:02.1	We're just talking about the Tesla call with Andrew. You said it was going to be key to the print.
1:07.0	Well, I mean, in the end, targets were raised. People liked it. It is, they're making a lot of cars in would have made, and I think this is kind of the takeaway,
1:16.4	would have been able to sell a lot more cars had they had more availability.
1:20.0	And there are people who are going to say that, well, wait a second, is demand as strong as he says.
1:25.7	And I trust him. I trust him when he says that, look,
1:28.0	had they had a chip shortage, he would have blown away the numbers. David, what I didn't
1:34.5	like about it is that's what all the air, that's what all the car companies are going to say.
1:39.5	And I would have thought there was no wizardry to the court. No alchemy, but no wizardry.
1:44.8	Right.
	...

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