Breaking Down Tesla’s 3-for-1 Stock Split, Intuit CEO Sasan Goodarzi on Earnings Beat & TikTok’s Impact on Elections and Advertising 8/24/22
TechCheck
CNBC
4.5 • 66 Ratings
🗓️ 24 August 2022
⏱️ 44 minutes
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| 0:00.0 | I'm Carl Kintanilla. You're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Listen in. |
| 0:08.5 | Good Wednesday morning. Welcome to Tech Check. I'm Deerreboza in San Francisco with Carl Kintini and John Ford out east. |
| 0:14.2 | Today, a breakdown of the consumer across the tech ecosystem. Into it, the top gainer on the S&P, a small business demand proved stronger |
| 0:21.6 | than ever. More on those numbers with the CEO himself, Suzanne Gazzari, in just a moment. |
| 0:26.6 | Plus, what Peloton's new partnership with Amazon means for the D2C names, as names across the |
| 0:32.0 | space get a boost. And finally, is TikTok ruining the internet? More on how it is changing the digital landscape. |
| 0:38.5 | That's all later this hour, John. Yeah, we're going to start, though, with a read on small |
| 0:42.6 | business strength into a chair's popping on an earnings beat, strong outlook, dividend raise. |
| 0:48.7 | You can see them there up more than 5% so far this morning. It's the top gainer in the S&P so far. This is a prime example of a pandemic name where the fundamentals are continuing to work. |
| 1:00.9 | And the stock, the stocks that get the hype aren't necessarily the ones that are going to continue to perform. |
| 1:07.8 | Now, Intuit has benefited over the last couple of years as small businesses went digital |
| 1:11.7 | during the pandemic to survive into it didn't chase trends. Instead, aggressively invested in its |
| 1:17.9 | core mission, buying companies like Credit Karma and MailChimp. Those two acquisitions have left |
| 1:23.7 | the company more diversified and closer to becoming what I would call the next Microsoft |
| 1:29.0 | for small business and consumer back office. We're going to break down these results with CEO |
| 1:34.5 | Sasan Gaddaarzi in just a moment, Carl. |
| 1:37.9 | Meantime, John, while the consumer may be strong for Intuit, not the same story for Peloton, |
| 1:42.4 | as you know, but shares are surging on news of this new partnership with Amazon, |
| 1:46.9 | some calling the move a last gasp from a retailer that has struggled to navigate post-pandemic headwinds. |
| 1:53.5 | Lauren Thomas is a retail reporter at CNBC.com. |
| 1:56.0 | She talked to Peloton's chief commercial officer, broke the story today, Lauren. |
| 1:59.8 | A fascinating piece. |
... |
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