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Squawk on the Street

Boeing Downgrades, Opioids in Ohio & The Earnings Boost For Stocks

Squawk on the Street

CNBC

News, Investing, Business

4.1567 Ratings

🗓️ 21 October 2019

⏱️ 43 minutes

🧾️ Download transcript

Summary

Here's the description: Carl Quintanilla, David Faber & Jim Cramer discuss the pressures facing Boeing: 2 big analyst downgrades & renewed scrutiny of the 737 Max. Is it ‘a great American company, being run badly?’ Plus, a major settlement reached in a landmark first federal opioid lawsuit in Ohio. And stocks close in on new highs as trade and earnings optimism lifts Wall Street sentiment.

Transcript

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0:00.0

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

0:04.7

Don't miss a minute of the action.

0:11.7

Good Monday morning. Welcome to Squawk on the Street. I'm Carl Kintene with Jim Kramer, David

0:15.1

Favored, the New York Stock Exchange. Futures start the week with the bounce as the Chinese premiere

0:19.8

cites substantial progress in trade talks.

0:22.9

Buckle up for a busy earnings week.

0:24.3

You've got a quarter of the S&P reporting in the coming days.

0:27.1

What a weekend in the UK?

0:28.2

The pounds trying to hold $1.30 after Parliament's vote.

0:31.3

And the tenure, 178, is about a one-month high.

0:33.9

Our roadmap begins with new pressures for Boeing, downgrades at Credit Suisse and UBS today.

0:38.9

Some renewed congressional scrutiny shares tumbling 10% on the past week.

0:42.8

Plus opioids on trial in Ohio for drug companies reaching a last-minute settlement ahead of what was the landmark first federal opioid case.

0:51.4

And Mark Zuckerberg speaking out why the Facebook CEO tells NBC News, quote,

0:55.4

it's more important to be understood than it is to be liked. Shares of Boeing are under pressure,

1:01.8

having its worst day in more than two and a half years, losing almost 7% Friday. As we said,

1:06.4

Credit Suisse and UBS both cut the stock to neutral from by today. Boeing remains under scrutiny

1:11.1

following the revelations of those emails from 2016, which called into question the safety

1:16.0

of the 737 Max Jets flight control system. The board met over the weekend, expressed regret

1:21.5

over the message, continuing to investigate. Dennis Mullenberg is scheduled to testify

1:25.9

at House Transportation next week.

1:28.9

Reuters suggest that this board meeting in Texas may consider things like job cuts and some other

...

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