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Closing Bell

Closing Bell Overtime: Earnings Bonanza, Including Tesla, IBM, ServiceNow 10/23/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 23 October 2024

⏱️ 45 minutes

🧾️ Download transcript

Summary

A wild day of tech earnings, including from Tesla, IBM, Lam Research, ServiceNow, plus Las Vegas Sands and Mattel. High-profile analyst Dan Ives reacts to Tesla’s numbers and former board member Steve Westly gives a bigger picture take on where the EV-maker stands. Jon spoke with IBM CEO Arvind Krishna and ServiceNow CEO Bill McDermott before the earnings call and brings those comments to you.

Transcript

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0:00.0

Well that's the end of regulation. Curbline properties ringing the closing

0:05.8

belt in New York Stock Exchange X trackers by DWS doing the honors of the

0:10.5

Nasak. We've got higher yields a pullback for mega cap tech stocks,

0:14.4

dragging the major averages lower today. Big drops for Apple and the chips. But the focus now

0:20.1

turns to an upcoming wave of earnings. That is a scorecard on Wall Street,

0:23.4

but the action is just getting started. Welcome to Closing Bell overtime. I'm Morgan Brennan with John Fort.

0:28.7

We've got a huge hour of results coming your way, headlined by Tesla IBM Service Now Anti-Mobile

0:34.0

Plus we'll get numbers from Lamb research Las Vegas Sans Mattel

0:38.0

Whirlpool and many more as we await those earnings though let's bring in a

0:42.1

bespoke Investment Group co-founder Paul Hickey Paul great to have you on

0:47.0

You know we're hot and heavy into the earning season here Tesla is obviously the big headliner but we have so many names we're going to be watching.

0:54.6

How would you characterize what we've heard from the companies that reported so far, particularly

0:58.6

on the day where the major averages are having their worst sell-off in a month and a half.

1:04.4

Yeah, I mean, it's a rough day today, but you just have to put it in the perspective of what we've

1:09.3

seen over the last six weeks, and part of this rally has been driven by the fact that the earnings

1:14.7

results to start with the big banks were very strong and they and they their

1:18.9

stock price reactions were also positive so I wouldn't read too much into it.

1:24.2

In the end of the last show,

1:26.0

we were talking about the election and the election trade.

1:30.6

And yes, it is a much different environment now than going into the 2016 election.

1:35.0

But it is, you know, you can't ignore the fact that we've seen a correlation between

1:41.0

former President's Trump's poll numbers and more specifically his odds and the market's performance and the sector performance coming into like

...

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