Closing Bell Overtime: Averages Close Lower After Fitch’s Downgrade; Aurora CEO On Commercial Launch Timeline For Its Self-Driving Trucking; RXO CEO On The Labor Environment 8/2/23
Closing Bell
CNBC
4.4 • 139 Ratings
🗓️ 2 August 2023
⏱️ 49 minutes
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| 0:00.0 | I'll update for Bulls as Fitch's downgrade hit sentiment. |
| 0:03.7 | That's a scorecard on Wall Street but winter stay late. |
| 0:06.0 | Welcome to Closing Bell overtime. |
| 0:07.2 | I'm John Fort with Morgan Brennan and it is another blockbuster afternoon for earnings |
| 0:11.7 | with reports on the way from |
| 0:13.7 | Qualcomm PayPal, DoorDash, Robin Hood, Etsy and many more we will bring you all |
| 0:18.2 | those numbers and expert analysis. |
| 0:20.3 | Plus two CEOs join us on the back of their results. We'll talk to the head of |
| 0:24.0 | Last Mile Freight Company RXO falling hard today and the CEO of |
| 0:29.2 | self-driving tech firm Aurora. Also lower along with just about everything else in the NASDAQ and tech stock. |
| 0:36.9 | As we await those earnings though, let's bring in BD8 Capital Partners, CIO, Barbara |
| 0:42.1 | Duran. So what partner CIO, Barbara, so what are the chances that this Fitch rating cut triggers a shift |
| 0:49.2 | in sentiment here? I mean, A. M. D. noticing was down what? I was looking at one point today. It was down more than 6% even though, you know, the response immediately after earnings last night was pretty good. |
| 1:04.0 | Right and you see names like Palo Alto down 7% all the big tech names are down. |
| 1:09.2 | I don't think this is going to spark a shift in sediment I think it's an excuse plus the ADP number which was not |
| 1:14.8 | We've got to qua come out so let's we'll get you to react to that but Christina |
| 1:19.3 | part's nebulus has the numbers Christina what we're seeing as is Qualcomm did post an earnings beat of a dollar 87 adjusted that's six cents higher than what it was anticipated on Q3 revenue of 8.45 billion dollars that was a slight miss driven by weakness in |
| 1:35.8 | both the smartphone chip business which is down 25% year-over-year as |
| 1:39.1 | well as their licensing business the company sees Q4 revenues a range of about 8.1 to 8.9 billion, so |
| 1:45.7 | that midpoint was 8.5, that's lower than what the street was anticipating, and then they |
| 1:50.3 | see Q4 adjusted E EPS that falls in line. |
| 1:52.9 | There's one quick thing that I was just going through the earnings deck right now, |
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