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Closing Bell

Closing Bell Overtime: AMD CEO Lisa Su On $5B Deal For ZT; FuboTV CEO On Venu 8/19/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 19 August 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

AMD one of the top performing S&P 500 stocks today after announcing it planned to acquire systems company ZT Systems for nearly $5B. CEO Lisa Su joins Jon in an exclusive interview to discuss the deal and what’s next for the company. Bessemer’s Byron Deeter on Palo Alto’s strong numbers and the future of the software sector. FuboTV CEO David Gandler on a judge’s decision to temporarily block a sport streaming service rival.

Transcript

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0:00.0

Well that Bell marks the end of regulation the New York City Fire Department

0:05.3

We're gonna close in Bell at the New York Stock Exchange they know how to do that

0:08.6

Sim Acquisition Corp doing the honors at the NASDAQ and the S&P 500 and NASDAQ both

0:14.3

notching eight straight winning sessions ahead of a big week of FedSpeak and a

0:19.7

rush of retail earnings the S&P closing above 5600 again that is a score card on

0:26.1

Wall Street but winter stay late welcome to closing bell overtime I'm

0:28.9

John Fort Morgan Brennan is off today we got a big show coming your way. In just a moment

0:34.4

AMD CEO Lisa Sue is going to join me exclusively following news of her

0:38.4

company's nearly five billion dollar acquisition bid of AI data center infrastructure company

0:43.8

ZT systems plus we're going to talk to the CEO of Fubo TV as that stock jumps

0:49.4

following a judge's ruling to temporarily block the joint venture sports streaming service

0:54.4

from Warner Brothers Discovery, Fox, and Disney. And we're not done with earning

0:59.1

season yet. Results are coming in just moments from now from cyber security giant Apollo Alto networks.

1:06.5

First let's begin with our market panel Brooke May of Evans May Wealth and Sam Stovol of CFRA research. Welcome to both of you. Sam, you buy this bounce back after all

1:17.3

this volatility? S&P back above 5600?

1:20.5

Yes I do, John. I actually looked on a closing basis going back to the inception of Vicks in the early 1990s.

1:29.0

And whenever we've been in a pullback mode, meaning a decline of between 5 and 10 percent.

1:34.5

We've had that happen six times.

1:36.5

The market did not exceed the 10 percent threshold four of those times, and when it did in the

1:41.6

remaining two, we were down only 10.2 and 16%.

1:46.0

So probabilities would indicate that because of the sharp sell-off two Mondays ago

1:52.1

that that's what really sort of shipped the loose

...

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