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Squawk on the Street

Busiest Day for Earnings: Twitter Tanks, Tesla Soars & Could Southwest ‘Diversify’ from Boeing?

Squawk on the Street

CNBC

News, Investing, Business

4.1567 Ratings

🗓️ 24 October 2019

⏱️ 46 minutes

🧾️ Download transcript

Summary

Here's the description: Carl Quintanilla, David Faber & Jim Cramer discuss the busiest day of earnings season: Amazon, Twitter, Intel, Southwest, Comcast, 3M, Dow, American Airlines among the companies reporting. Plus, as the grounding of its 737 Max fleet continues to weigh on Southwest Airlines, CEO Gary Kelly explains why the board will consider whether to “diversify away from Boeing aircraft” next year.

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 Thursday morning. Welcome to Squawk on the Street. I'm Carl Kintanilla with Jim Kramer, David Faber at the New York Stock Exchange.

0:17.2

What a morning of wild earning swings on this busiest day of the season. Twitter, as you just heard, Tesla, Microsoft, Ford 3M, the airlines and more.

0:24.6

Futures are up as the S&P is 710s from a record high.

0:28.6

Got green arrows in Europe, stock 600, testing some critical levels.

0:31.6

Durables, though, were not good.

0:33.6

Biggest drop in four months, 10-year 176.

0:36.6

Our roadmap begins with Twitter,

0:38.5

tanking as you know. Tesla up big, two big movers on this busiest day of the season. Amazon

0:43.5

and Intel report tonight. Plus the Boeing bite for Southwest, the largest user of the 737 Max.

0:49.4

Taking another big hit, its fleet still being grounded, but shares are rallying ahead of the bell.

0:53.7

CEO Gary Kelly. He will join us first on CNBC this hour.

0:57.0

And taking a bite of Beyond Meat, the stock's down 59% from the all-time high as Barish Betts

1:02.0

mount ahead of the company's lockup expiration and 3Q results.

1:07.0

So let's start with two big movers in tech.

1:09.3

Tesla surging in the pre-market after surprising with this quarterly profit, record delivery, some cost cuts.

1:14.9

Company says it does expect to deliver more than 360,000 vehicles this year.

1:19.2

That's at the low end of the targeted range.

1:21.3

And then there's Twitter.

1:22.0

You just heard Ned Siegel tumbling on a quarterly miss, weak revenue guide, despite DAUs that did beat consensus, up 17% year-on-year,

1:29.9

but this bug in the ad product, Jim, that kept them from basically getting good data to share

...

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