Closing Bell Overtime: Chipotle CEO On Earnings, Pricing; L3Harris On Defense, Space; Amazon Wraps Up Big Tech Earnings 10/26/23
Closing Bell
CNBC
4.4 • 139 Ratings
🗓️ 26 October 2023
⏱️ 46 minutes
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| 0:00.0 | Welcome to Closy and Bell Overtime. I'm John Fort with Morgan Brennan. |
| 0:04.0 | It is the busiest day of earning season and we will be juggling results this hour from Amazon and Intel in sharp focus |
| 0:10.7 | as the tech sell-off accelerates plus forward following news of a |
| 0:14.7 | tentative a labor deal along with defense contractor L3 Harris and |
| 0:18.4 | consumer bellwether Chipotle. You also have instant reaction and analysis and interviews with |
| 0:24.4 | Chipotle CEO Brian Nickle and L3 Harris CEO Chris Kubasik before they |
| 0:29.8 | talk to analysts on their earnings calls and as we await this wave of earnings |
| 0:34.5 | this afternoon let's bring in bespoke investment group co-founder Paul Kicky. |
| 0:38.1 | Paul you were with us two weeks ago and you pointed out that the best S&P 500 performance during |
| 0:44.9 | earnings season comes when the net revision spread was negative heading into |
| 0:49.2 | earning season negative sentiment as it was this quarter but we closed at 4327 on the S&P 500 that day. |
| 0:57.7 | I mean today on the S&P were around 41. |
| 1:00.5 | I want to note Amazon is out we're going through it 4137 do you still think |
| 1:05.6 | there's a hope for a turnaround here in the next week or two are you throwing in the |
| 1:09.4 | towel based on these revenues? I mean it's been one of the worst earnings seasons we can imagine. |
| 1:15.8 | It's been very poor reactions but I think a lot of it, the results haven't been great. |
| 1:20.4 | I'll give you that. |
| 1:21.4 | They've been guidance has been weak, but I mean earnings have almost been a side show the last few weeks when you have interest rates and the geopolitical |
| 1:28.2 | uncertainties you had before the Middle East flare up about two weeks ago, |
| 1:33.2 | the S&P was actually up on the month. |
| 1:35.1 | And then we've been trading lower |
| 1:37.7 | as we've seen increased uncertainty there, |
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