Closing Bell Overtime: Chipotle & Klarna CEOs; Microsoft and Alphabet Kick Off Big Tech Earnings 4/25/23

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 25 April 2023

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

The major averages fell today; it was the second straight negative session for the Nasdaq. Wedbush’s Sahak Manuelian on what areas of the market he likes now. Earnings from mega-cap tech stocks Microsoft and Alphabet, plus Visa, Chipotle and Texas Instruments. Chipotle CEO on the latest quarter, input costs and hiring. Klarna CEO Sebastian Siemiatkowski on the state of the consumer and fintech. DA Davidson’s Gil Luria reacts to Microsoft’s quarter, including Azure. Our Deirdre Bosa on what Alphabet CFO Ruth Porat told her about the quarter while Rosenblatt’s Barton Crockett reacts to the search giant’s quarter.

Transcript

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0:00.0	Basically closing out the lows of the day for stocks the S&P is well logging its worst day in more than a month
0:06.6	That is the scorecard on Wall Street, but the action is just getting started
0:10.7	Welcome to Closing Bell overtime. I'm Morgan Brennan with John Fort. It is one of those
0:16.0	afternoons of earnings, busy, busy earning season day. Our team of reporters is standing by
0:21.6	to bring you the results from Microsoft,
0:23.8	Alphabet, Visa, Chipotle, and many more.
0:26.9	That's a lot. Plus, we're going to bring you a first on
0:29.4	on CMBC interview with Chipotle CEO, Brian Nickel, ahead of that company's call with analysts.
0:35.0	All right, but let's get you set for this busy hour of earnings.
0:39.2	Joining us here is Sahak Manuelian, head of Equity Trading at Wedbush Securities on set with us.
0:44.7	Thanks for being here.
0:45.7	Thank you, Morgan.
0:46.7	All right, just before we start getting into specific names, let's talk a little bit about
0:49.8	the market action we did see because we saw the major averages under pressure.
0:53.3	It's been a mixed bag essentially for earning so far and Treasury yields
0:57.3	under quite a bit of pressure as well today too.
1:00.7	Yeah, it's been a very tough day for equities today for sure, but by and large I think
1:04.4	Q1 earnings has been somewhat of a relief rally for investors.
1:07.6	We've seen some decent results and we've seen some good results with some good
1:10.9	guidance most importantly and I know one can counter back to that and say
1:15.3	GE healthcare McDonald's cadence designs all this morning with some pretty decent results
1:21.6	with some pretty decent revisions for the full year yet these stocks are
	...

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