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Closing Bell

Closing Bell Overtime: Cohestiy CEO On Closing Key Acquisition; JPMorgan Global Head Of M&A On Dealmaking Activity Turnaround 12/10/24

Closing Bell

CNBC

Business, News

4.8118 Ratings

🗓️ 10 December 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

After stocks slid into the close today, our panel discussion with Adam Crisafulli of Vital Knowledge and Patrick Fruzzetti of Rose Advisors give you the market trends you need to know. Anu Aiyengar, J.P. Morgan's Global Head of M&A, shares insights on the state of deal-making and the driving force behind the recent flurry of announcements. Plus, interviews with Howard Hughes CEO David O'Reilly on meeting house demand and Cohesity CEO Sanjay Poonen closing the deal for Veritas’ enterprise data protection business unit—and what’s next on the road to an IPO. Key earnings reports from GameStop and Dave & Buster's and a deep dive explores how Taylor Swift’s record-breaking tour is transforming the entertainment industry.

Transcript

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0:00.0

That bell marks the end of regulation.

0:04.0

Greek American issuer day, ringing the closing bell at the New York Stock Exchange,

0:08.0

Phillips Edison and Company doing the honors at the NASDAQ, and the headline average is closing out with small moves.

0:14.0

But it's a different story beneath the surface as alphabet soars while names like Oracle, MongoDB, and chip names pull back. That's scorecard on Wall Street, but winners stay late.

0:22.6

Welcome to closing bell overtime. I'm John Ford with Morgan Brenner.

0:25.6

Well, coming up on today's show, more M&A rumors in a busy week for deals as Walgreens jumps higher

0:30.6

on a report of a sale to private equity.

0:33.6

JPMorgan's global head of M&A will join us with her outlook for mergers and acquisitions in the new year and under the new administration.

0:41.7

And speaking of deals, CEO of Data Protection Company Cohesity will join us to talk about news that his company

0:47.4

just closed its merger with, in a way, competitor, but industry partner will say Ver say, Veritas. But first, let's break down

0:56.8

the market action today. Joining us now, vital knowledge founder, Adam Chrisafouli, and Patrick

1:02.8

Frisetti, managing director with Rose Advisors at High Tower. Guys, good afternoon. Patrick,

1:08.2

investors expect a 25 basis point cut from the Fed coming up,

1:11.9

but economic activity, labor numbers have been coming in warm, if not hot. So how much risk do you

1:19.6

think there is to stocks, not just around CPI itself, but the possibility that after December

1:25.6

there might not be as many cuts as investors are pricing in.

1:29.7

Well, the market certainly stretched to this point.

1:32.7

And I think, you know, with CPI coming out tomorrow, PCE later in the week,

1:37.4

that'll certainly give a better indication of where we stand in regards to inflation,

1:42.6

at least at the present time.

1:44.8

But, you know, the markets, it's a very benign macro backdrop, as you said, both monetarily

1:49.8

and fiscally.

...

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