Closing Bell Overtime: Earnings onslaught, Big biotech movers, Payments CEOs share consumer insights 2/28/23

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 28 February 2023

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stocks were mostly lower on the final day of February to close out a downbeat month. Aaron Dunn from Eaton Vance and Jack Ablin from Cresset Capital break down the action and give their outlooks for March. The CEOs of Shift4 Payments and Klarna discuss their read on the consumer and the credit markets. Two biotech movers – Novavax and Sarepta – saw big moves post-market on breaking headlines. Plus analysis of a slew of companies that reported results in the after-hours session, including Ross Stores, Urban Outfitters, First Solar, HP, Virgin Galactic, AMC and Rivian.

Transcript

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0:00.0	That's the score part on Wall Street as we close out a downbeat month, but the action's just getting started.
0:06.8	Welcome to Closing Bell overtime. I'm Morgan Brennan with John Fort.
0:10.2	Buckle up for a wild ride of earnings. That's coming your way. We're getting ready to
0:14.8	bring you numbers from Ross Stores, HP for Solar, Virgin Galactic, Rivian, AMC, and more.
0:21.0	Plus, we're going to get clues on the consumer from the heads of two payment companies
0:24.8	that just reported results.
0:26.3	Klarna's CEO and the head of Shift 4 payments will both join us this hour.
0:31.8	Karna's private, but it's still reported results.
0:34.6	It did.
0:35.6	And it's been a busy day in terms of payments
0:37.6	and payments processing.
0:38.7	And so this is going to give us a lot more context
0:41.1	on the consumer.
0:42.1	Let's get straight into our market panel though.
0:44.3	Joining us are Aaron Dunn from Eaton Vance and Jack Ablin from Crescent Capital.
0:48.9	Good afternoon to you both. We just finished the month of February.
0:53.4	We finished the month down after the rally we saw in January.
0:57.3	So let me find my notes here.
1:01.3	Jack, I'll put the first question to you.
1:03.8	Are we fading the rally here?
1:05.6	Is the next move lower?
1:08.4	A lot depends on the data.
	...

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