Closing Bell Overtime: Qualcomm & Arm Earnings, Ford CEO Jim Farley, and MP Materials CEO On Export Controls 02/05/25
Closing Bell
CNBC
4.4 • 139 Ratings
🗓️ 5 February 2025
⏱️ 43 minutes
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| 0:00.0 | That bell marks the end of regulation. Quantics building products, bringing the closing |
| 0:03.4 | bell with the New York Stock Exchange, Huntington Bank shares, doing the honors at the NASDAQ. |
| 0:08.6 | And wow, stocks staging a comeback earlier in the session as the major averages close right |
| 0:14.6 | about, yeah, right at the highs of the day for the S&P. Certainly, that's the scorecard on Wall Street, |
| 0:19.7 | but winners stay late. |
| 0:20.9 | Welcome to closing about overtime. I'm John Ford with Morgan Brennan. |
| 0:24.1 | Well, nearly every sector is in the green today, although communication services is sharply |
| 0:28.5 | lower, thanks in part to a sell-off and shares of Alphabet. That's following a sales miss |
| 0:32.7 | and massive AI spending plan. But investors now awaiting a trio of big earnings, Qualcomm, arm holdings, |
| 0:39.6 | and Ford. We will have instant analysis of all of those numbers as soon as they are out. And |
| 0:45.2 | Ford's CEO will join us for a first on CNBC interview before he discusses the results with |
| 0:51.1 | analysts on the call. Well, I'm just going to interrupt right here. |
| 0:55.4 | Qualcomm numbers are out already. So why wait? Let's get straight to Christina Parks and |
| 1:00.3 | Avelas with those. Christina. Yeah, it's another strong quarter for Qualcomm. Gap EPS, |
| 1:05.4 | earnings per share at $3.41 on revenues of $11.67 billion. That's the biggest revenue beat since November 2020. |
| 1:14.0 | Beats driven by their handset, their IOT, as well as their auto business. |
| 1:17.8 | For Q2, the outlook, the midpoints that they're providing is $2.80 EPS on revenues of $10.6 billion, |
| 1:25.4 | I should say, both also higher than what the street was anticipating. |
| 1:28.8 | John and I were just on a call with the CEO and CFO just moments ago, and they said end customer |
| 1:34.2 | demand in China for premium tier continues to expand, and that the increase in sales was because |
| 1:39.7 | of demand and not because of pull through because of tariffs, something that we heard from Intel |
| 1:44.7 | and their reasoning as to why they saw a sales bump, so maybe a dig at them. |
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