Closing Bell Overtime: Digging Into Earnings From Netflix & Tesla; Unity Software CEO On Making Games For Apple’s Vision Pro 7/19/23

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 19 July 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Stocks closed higher as the earnings season kicked off in earnest. Reports from Tesla, United, Netflix, Las Vegas Sands and IBM. Vital Knowledge’s Adam Crisafulli and G Squared’s Victoria Greene break down all the action. Third Bridge’s Scott Kessler digs into the IBM report. It’s a bull versus bear debate on one of the most polarizing stocks: Tesla. RBC’s Tom Narayan gives the upside case while Guggenheim’s Ron Jewsikow makes the downside pitch. Unity Software CEO John Riccitiello talks his company’s deal to work on games for Apple’s Vision Pro.

Transcript

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0:00.0	We've got your scorecard on Wall Street, but winners stay late for the numbers.
0:05.1	Welcome to Closing About overtime.
0:06.5	I'm John Fort with Morgan Brennan and the Bulls running wild on Wall Street again
0:10.6	as the Dow extends its winning streak into an eighth day.
0:14.7	And now investors are set for a massive hour of earnings.
0:17.7	We will break down results from Netflix, Tesla, United Airlines, IBM, Las Vegas Sands, as soon as they hit the wires.
0:25.0	Plus Unity Software now allowing its developers to create game and app environments for
0:29.2	Apple's Vision Pro headset.
0:30.9	Coming up, the company CEO tells us what that partnership means for
0:33.6	gaming and for his bottom line. Let's get you ready for this busy afternoon of
0:37.2	earnings. Joining us now is Adam Chris a fooli, vital knowledge founder, and
0:40.7	Victoria Green, G-squared Private Wealth, CIO, and a
0:44.6	CMBC contributor. Guys, welcome Victoria. So, um, the KBE's done well,
0:50.4	the KRE I think is up nine but hold on let we've got united
0:56.4	numbers out already let's see Phil the bow has the numbers Phil
1:02.0	hey John this is a beat Phil the bow has the numbers, Phil.
1:03.0	Hey, John, this is a beat on the top of the bottom line, and on the bottom line, it's the
1:07.0	beat that people at United are going to be loving for a while.
1:11.0	503, that's what they earned for the second quarter versus an estimate of 4-04, almost a dollar
1:17.1	better than expected, with revenue coming and better expected at 14.17 billion. And as you look at the quarter the numbers within the
1:25.1	numbers strong across the board. Revenue up 17% versus the second quarter of
1:29.6	last year pre-tax margin of 15.3% on the high end of their guidance for the quarter.
	...

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