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Closing Bell

Closing Bell Overtime: Mega-Cap Tech Earnings Kick Off With Microsoft, Alphabet; Alphabet CFO Ruth Porat To Transition To New Position

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 25 July 2023

⏱️ 49 minutes

🧾️ Download transcript

Summary

Another day of gains for the major averages, including the Dow’s 12th straight positive session. Vital Knowledge’s Adam Crisfulli breaks down the market moves, including earnings from Alphabet, Microsoft, Visa, Texas Instruments, Snap and Teladoc. Wedbush’s Dan Ives and Madrona Venture Group’s Matt McIlwain on what today’s mega-cap tech earnings means for the rest of the week. Keybanc’s John Vinh on Texas Instruments report. CFRA’s Angelo Zino on Snap’s tough day. JPMorgan’s Michael Feroli on the Fed’s big week. Our Deirdre Bosa talks with Alphabet CFO Ruth Porat.

Transcript

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0:00.0

You got your scorecard on Wall Street, but winners really stay late this time up in the closing

0:05.6

to overtime.

0:06.6

I'm John Fort with Morgan Brennan and the Dow has extended its winning street to 12 days,

0:11.3

the longest in more than six years, the S&P 500 closing higher for the sixth time

0:16.3

and setting.

0:17.3

And now brace yourself for a whirlwind of big earnings reports, alphabet, Microsoft, Visa, Texas Instruments, and Snap.

0:25.8

We're going to break down all the results as soon as they hit the wire.

0:28.8

So let's get right to it.

0:29.8

Joining us now, Adam Chris a Fouli, Vital Knowledge, founder, and Dan Ives, Wedbush Securities Managing

0:34.8

Director of Equity Research here on set. Dan, how big a deal is tonight's rush of earnings?

0:41.2

It's a super bowl for tech earnings.

0:42.8

I say for the overall market because of the AI revolution.

0:46.7

This is really now the second, third, fourth derivative of the NVIDIA Guidance heard around

0:51.8

the world the last quarter. You look at Microsoft and Redmond. and I believe this is really in my opinion going to put fuel and when I see tech stocks

1:04.0

being up 12 to 15 percent second half of the year.

1:06.8

Adam that worries me a little bit because expectations are so high.

1:11.8

You got Google near alphabet near 52 week highs it's year to date

1:16.6

gains though trailing Microsoft there's a trillion dollar market cap gap

1:20.1

gap between them now and you've got Microsoft just shy of all-time high so how good do these results have to be for them to go higher

1:28.6

Yeah, I mean obviously the bar is very high we saw last week Tech her needs to kick off and you kind of saw

1:34.4

I mentioned sorry just to interrupt you there real quick Microsoft results are out and

1:38.9

we are going through them now that the stock at least for the quick moment taking a dip in the

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