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Closing Bell

Closing Bell Overtime: Abbott CEO Talks Strong Quarter, Weight-Loss Drug Revolution; Ark Invest’s Tasha Keeney Reacts To Tesla Earnings 10/18/23

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 18 October 2023

⏱️ 47 minutes

🧾️ Download transcript

Summary

Stocks slid in trading, sending the major averages negative on the week. Earnings from Netflix, Tesla, Las Vegas Sands and Lam Research. Victoria Greene, G Squared Private Wealth founding partner, and Vital Knowledge Founder Adam Crisafulli break down the market action and company reports. Evercore’s Mark Mahaney and Wedbush’s Alicia Reese dig into Netflix’s big beat and the success of the password sharing crackdown. Ark Invest’s Tasha Keeney on the bull case for Tesla after its latest report. Abbott CEO Robert Ford talks the company’s strong quarter and how it is planning for the weight loss drug revolution. Plus, Nuveen CIO Saira Malik talks portfolio positioning.

Transcript

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0:00.0

Some buying into the clothes but nowhere near enough to make up for the ground lost

0:05.9

that is the scorecard on Wall Street but winning stay late.

0:08.1

Welcome to closing bell overtime. I'm John Fort with Morgan Brennan.

0:11.1

It is one of the most exciting afternoons of earning season headline by

0:15.3

results from Tesla and Netflix in just a few moments along with numbers from

0:19.0

Las Vegas Sands, Lamb Research, Zion's Bank Corp.

0:23.2

We will bring you all the highlights,

0:24.8

press an exclusive interview with the CEO of Medical Device Company Abbott,

0:28.2

which reported before the bell,

0:29.9

we will ask about the impact of the weight loss drug craze on the space.

0:34.7

But now let's get straight to our market panel as we await those big name earnings.

0:39.6

Surging rates again in focus with the 10 year yield reaching 4.9% for the first time since

0:45.3

2007 putting pressure on equities.

0:48.8

Joining us now are Victoria Green from G-squared Private Wealth, Adam Kresophoulli

0:52.3

from Vital Knowledge and of course,

0:54.1

CMbic's own senior market commentator Mike Santoli.

0:57.5

Mike, what's going to determine whether the major indices break out to the upside or downside.

1:05.1

What are people saying?

1:06.0

Is it guidance?

1:07.2

Is it Treasury yields or whether they move higher or stay this high?

1:11.0

I think it probably would ideally be a combination of both. I think, you know, yields

1:15.9

stalling out here, calming down, slowing their pace, any of that might clear the way for a greater focus on some of the more corporate-based

...

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