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Closing Bell

Closing Bell Overtime: Instant Reaction To Netflix Earnings; Chegg CEO On AI In Education; Grading The Big Banks 4/18/23

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 18 April 2023

⏱️ 52 minutes

🧾️ Download transcript

Summary

A mixed session for stocks: the S&P 500 closed higher but the major averages hovered around flat for most of the day. BD8 Capital Partners CIO Barbara Doran on the market action. Evercore analyst Mark Mahaney gives instant reaction to Netflix earnings while Annandale Capital’s George Seay gives perspective as a shareholder. Chegg CEO Dan Rosensweig weighs in on AI integration in education. Our Morgan Brennan is in Colorado, interviewing Rocket Lab CEO Peter Beck at the Space Symposium. Plus, a slew of earnings in overtime: Netflix, United Airlines, Western Alliance, Interactive Brokers, First Horizon and Intuitive Surgical.

Transcript

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0:00.0

Well, flat to the close with the streaming is about to begin of earnings, that's a scorecard on Wall Street, but winners stay late.

0:08.0

Welcome to the closing bell overtime. I am John Fort Morgan Brennan is covering the space symposium in Colorado.

0:13.0

It's going to rejoin us in a bit with the CEO of Rocket Lab.

0:17.0

And now we're moments away from the first Feng report of earnings season, Netflix,

0:22.0

set to release results any second now.

0:24.2

We're going to break down the numbers and the read-through

0:26.6

for the rest of Tech.

0:27.8

Plus, we're going to get the latest look at Regional Banks

0:30.6

for the First Horizon and Western Alliance report results and we'll hear about the demand for travel

0:36.4

when United Airlines numbers come out again any moment now and we're also following breaking news this hour. Fox has agreed to settle its

0:46.0

lawsuit over 2020 election fraud claims. I'm going to bring you more details in a

0:51.5

moment as we wait for that and those earnings,

0:54.5

though let's get to today's market action.

0:56.3

Joining us now is Barbara Duran

0:58.5

from BD8 Capital Partners.

1:00.5

Barbara, what's happening in the markets?

1:02.3

Now we ended up just about flat on all the major averages.

1:05.0

We're just rating for some news and some indications,

1:09.0

perhaps this earning season to move things around?

1:11.8

Yeah, I think so, John.

1:13.0

If you look at the last three quarters of earning season,

1:16.0

investors went in with great trepidation, expecting all sorts of bad news and the earnings,

...

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