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Closing Bell

Closing Bell Overtime: Exclusive Interview with Norfolk Southern CEO; Meta Continues Big Tech Strength In Earnings 4/26/23

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 26 April 2023

⏱️ 47 minutes

🧾️ Download transcript

Summary

Nasdaq finished higher after strength from big tech and software, but Dow and S&P 500 posted their second straight negative session. Vital Knowledge’s Adam Crisafulli broke down the market action amid another raft of earnings. Meta stock soared in overtime; Bernstein analyst Mark Shmulik and Mighty Capital’s SC Moatti give instant reaction to the company’s strong quarter. Neuberger Berman’s Joseph Amato on what earnings season has told investors so far. Norfolk Southern CEO Alan Shaw joins Morgan in an exclusive interview to discuss the quarter and what’s next in East Palestine, Ohio. Boston Scientific posted a strong quarter; Jon sat down with CEO Mike Mahoney on patient demand returning for elective procedures. Plus, earnings from Roku, Mattel, ServiceNow, Ebay and Teladoc.

Transcript

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0:00.0

A lot of red marks on the scorecard for Wall Street, but winter stay late.

0:04.8

Welcome to Closing to Over Time.

0:06.1

I am John Fort with Morgan Brennan and Mike Santoli is with us here on set as well.

0:11.8

In the house. I'm ready for another huge hour of earnings.

0:15.0

Our reporters are standing by to bring you results from Meta, Roku, eBay,

0:19.0

Mattel, Tele Doc, and Service Now.

0:22.0

Plus, we've got an exclusive interview with the CEO of Norfolk Southern

0:25.3

after the railroad posted its first quarterly numbers since that East Palestine train derailment.

0:30.5

But let's start with today's action.

0:33.0

Joining us is Adam Chrysophoulli from Vital Knowledge.

0:35.4

Adam, I mean, the major indices were down, but you know, there's some mixed signals.

0:41.9

UPS was negative but Microsoft was positive.

0:46.4

Boston Scientific this morning signaling some hope in the health care space.

0:51.2

How does an investor sort through all this?

0:54.0

Yeah, you're continuing to get very, very mixed signals out of this earning season.

0:58.0

You know, I think in aggregate, it's been an encouraging season.

1:01.0

You're seeing a lot of companies eat expectations, you're seeing a lot of

1:04.2

impressive margin improvement, which has kind of been one of my big themes in this earning season

1:08.3

that companies had a lot of unappreciated earnings tailwinds that would help offset macro uncertainty.

1:14.8

I guess one critique or one complaint that some people have is that you aren't seeing companies

1:19.4

raise guidance by as much as they're beating in Q1, which is an implicit cut to guidance for the

1:26.0

back half of the year. I think that's kind of one criticism that some people are

...

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