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Closing Bell

Closing Bell Overtime: Chips Slide Extends Into Second Day; C3 AI CEO On Quarter; ZScaler CEO On Weak Billings Guidance 9/4/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 4 September 2024

⏱️ 44 minutes

🧾️ Download transcript

Summary

Stocks pared losses into the close, but the Nasdaq was lower for the second-straight day as the slide in chips continued. C3 AI CEO Tom Siebel discusses the latest quarter in first comments before the analyst call while ZScaler CEO Jay Chaudhry breaks down the weak billings guidance that scared investors. Palo Alto Networks CEO Nikesh Arora on closing its IBM deal and the impact of Crowdstrike. Plus, Grant’s Interest Rate Observer founder Jim Grant on what’s next for inflation and the Fed.

Transcript

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0:00.0

That's the end of regulation, strive bringing the closing belt in New York Stock Exchange,

0:03.7

notable capital doing the owners at the NASDAQ. Well, the Dow closing, it looks like fractionally

0:08.7

higher for the NASDAQ and S&P 500 finishing fractionally lower as NVIDIA fails at a comeback attempt

0:15.6

even after Jim Pramberg just reported moments ago that the company denied it

0:19.2

received a Justice Department subpoena. That's the scorecard on Wall Street, but the action's just

0:23.8

getting started. Welcome to Closing Bell overtime, I'm Morgan Brennan with John

0:27.2

Fort. Well we have a huge hour coming your way including earnings results

0:31.2

from Hewlett-Packard Enterprise C3 AI, Aerovirment

0:35.2

and more.

0:36.2

We're going to talk to C3 AI CEO, Tom Sebel, about the quarter before he talks to Wall

0:41.2

Street on the analyst call.

0:43.0

Plus, Fed Watcher Jim Grant joins us with his take on the market volatility,

0:47.0

and if a soft landing is looking harder to achieve.

0:51.0

And two can't miss interviews in the cyber security space, Z-scalers Chief joins us as his stock

0:58.0

tanks on a weaker outlook.

0:59.0

And Power Alto Network CEO Nakecheer Aurora weighs in on M&A, Tech Spend, and how the crowd strike

1:05.0

outages impacting his business.

1:07.0

Well, let's get straight to our market panel.

1:08.9

Joining us now, Lori Calvascina from RBC Capital Markets and Phil Campbale from J.P. Morgan Asset Management.

1:14.0

Great to have you both here. Phil, you're on set. I'm going to start with you.

1:18.2

You've got a real bumpy start to the month, but historically September is always the weakest month. You got a

1:23.8

ten-year treasure yield at 375 right now. How does this position us for the

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