Buffett’s Quarterly Bets; Tesla’s Index Inclusion; Amazon’s Drug Biz; Newsmax’s Editorial Appeal

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 17 November 2020

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The S&P 500 will finally add Tesla to its index in mid-December. Elon Musk’s electric vehicle company now tops $400B in market cap. Warren Buffett’s Berkshire Hathaway made some changes to its equity portfolio in the last quarter, trimming its stakes in Apple and JPMorgan and betting on drug stocks and T-Mobile. Amazon is jumping into the pharmacy business with online prescription fulfillment and delivery for Prime members. Plus, conservative Americans may be seeking new media platforms; Newsmax CEO Christopher Ruddy responds to reports that his channel is a target for acquisition and defends his editorial perspective. Ruddy explains why his channel has become a Fox News alternative, and considers the prospect of “Trump TV.”

Transcript

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0:00.0	This is Squawk Pod. I'm C. NBC producer Katie Kramer. Today on our podcast.
0:07.0	Tesla making big moves.
0:09.0	Tesla is the musketeers, whatever you want to call.
0:12.0	The electric car maker joining the
0:13.6	S&P 500 and set to be one of the most valuable stocks in the index. Are they
0:17.7	still short this stock? The test lacers? A new crop of conservative news
0:22.2	outlets heating up the cable competition,
0:24.4	could NewsMax become Trump TV, CEO Chris Freddie.
0:28.0	NewsMax, while we can be supportive editorially,
0:31.2	we report both pro and con about the administration all the time.
0:35.1	Those stories plus Warren Buffett buying pharma stocks and Amazon taking over
0:40.2	your pharmacy. I can't see myself switching any of our prescriptions to Amazon Prime at least right now.
0:45.5	It's Tuesday, November 17, 2020, Squawk Pond begins right now.
0:51.3	Good morning everybody.
0:52.4	Welcome to Squawk Box here on CMBC.
0:54.0	I'm Becky Quick, along with Joe Kernan and Mike Santoli, Andrews off today.
0:58.0	Tesla is joining the S&P 500 on Monday, December 21st.
1:02.0	Based on yesterday's closing price, I would make it 500 on Monday, December 21st.
1:02.9	Based on yesterday's closing price,
1:04.5	I would make it one of the top 10 companies in that index.
1:07.9	And with the after-hours move, the market cap is about $430 billion.
1:12.3	That makes it the eighth biggest and in striking
	...

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