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Closing Bell

Closing Bell Overtime: Intel CEO On Executing; Masimo CEO Talks Patent Fight With Apple 10/27/23

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 27 October 2023

⏱️ 44 minutes

🧾️ Download transcript

Summary

Stocks slid in the final hour of trading to send the major averages negative on the week. 3Fourteen Research Co-Founder Warren Pies helps us break down the market action heading into an uncertain weekend and the key sectors to watch. Jon sits down with Intel CEO Pat Gelsinger after the chipmaker’s strong quarter. Masimo CEO Joe Kiani on his company’s patent fight with Apple over watches. Andrew Borene, Flashpoint National Security Solutions Executive Director, walks us through the latest developments in the Middle East. NerdWallet recorded its best day ever, jumping 40% on earnings. CEO Tim Chen talks the company’s position.

Transcript

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0:00.0

A rough ending to a week is the Nasak clung to modestly to gains today, but the major averages end of the week firmly in the red.

0:09.0

4117, it looks like, for the S&P.

0:12.0

That's a square car on Wall Street the

0:14.7

actions just getting started though welcome to closing bell over time I'm

0:17.1

Morgan Brennan with John Ford coming up this hour three companies that buck the

0:21.0

downtrend today Intel getting a major boost following

0:24.1

last night's earnings results ending at the top of the Dow and S&P 500 second in the

0:28.5

NASDAQ 100 and building on solid gains for the year we're gonna hear from

0:32.4

CEO Pat Gelsinger about the company's turnaround

0:34.9

and what he makes of new competition

0:36.9

from the likes of Qualcomm and maybe NVIDIA.

0:39.4

Plus shares of Nerd Wallet getting a massive pop on the back of strong earnings and the launch of its first

0:44.5

credit card the CEO will join us to discuss. Look at that, almost 41% today.

0:49.9

Nirds and a big win against Apple, the founder and CEO of Med Tech Company Massimo

0:55.7

joins us exclusively to talk about a ruling from the US International Trade Commission

1:00.0

saying Apple violated Massimo's patents, a ruling that could lead to a ban on Apple watch

1:07.2

imports at some point, not this watch though.

1:10.1

We begin with the market as the stocks wrap up another losing week third in a row for the

1:15.6

NASDAQ second straight for the Dow and S&P looking at the sectors communication services

1:20.4

and energy sharply lagged this week while utilities outperformed.

1:24.8

Let's bring in senior market's commentator Mike Santoli, Mike, looks like we might finally

1:28.7

be busting out of that area where we were chopping around for so long.

...

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