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Closing Bell

Closing Bell Overtime: Rocket Lab CEO On Meteoric Growth Of Business, Space Policy Under Trump; Ibotta CEO On Earnings and Consumer 11/13/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 13 November 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

The post-election breather extended to its second day in a row as stocks lost steam in the final hour of trade. CFRA's Keith Snyder breaks down Cisco earnings. Greenlight's David Einhorn gives a new industrial pick he likes. Ibotta CEO Bryan Leach on the company's third results as a public company, how the consumer is faring and what the company plans to do if inflation returns to growth in 2025. Rocket Lab stock shot up more than 25% today; CEO Peter Beck talks the growth of the business, the company's plans under Trump 2.0 and how it is positioned relative to SpaceX.

Transcript

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0:00.0

That's the end of regulation. JLL ringing the closing belt, the New York Stock Exchange,

0:06.5

and the premier lacrosse league doing the honors at the NASDAQ.

0:10.2

The major averages parrying earlier gains, closing near the flat line.

0:14.6

It was really mixed session today as investors weigh the new read on inflation and the latest

0:19.1

moves from President-elect Trump.

0:21.3

That's the scorecard on Wall Street, but the action is just getting started.

0:24.8

Welcome to closing bell overtime. I'm Morgan Brennan. John Ford is off today.

0:28.8

Well, coming up this hour, Greenlight Capitals, David Einhorn takes the stage at delivering

0:33.7

Alpha. We will take you there for his comments. Plus, earnings are rolling in this hour

0:39.0

from Cisco, recent IPO IBOTA, Sonos, and Beezer Homes. We will bring you those numbers and an

0:45.2

exclusive interview with IBata's CEO before he talks to Wall Street analysts on the earnings call.

0:50.5

But let's kick off with Innovator ETS head of research and investment strategy,

0:56.1

Tim Urbanoitz. Tim, it's great to have you on the show. We did have a mixed session. The NASDAQ

1:01.7

and Russell 2000 finishing the day lower. The NASDAQ just above the flat line. 5985 is

1:07.8

looks like where we're settling out. And the Dow also fractionally higher here.

1:12.5

Given the rally we've seen in stocks over the past call it week, what do you like here?

1:19.0

Well, Morgan, you know, what we're encouraging our clients to focus on are these election results.

1:22.7

I think we're going to continue to be an election-driven market here. And specifically, we want to

1:26.8

focus on these policies that we think have the best chance of actually being implemented right away.

1:31.3

So we think immigration, we think tariffs on China, regulatory rollback.

1:36.3

Those are the ones that are likely going in right out of the gates, and focus less on some of the things that might be more challenging to pass,

1:42.3

where you're going to need to get the votes in Congress, i.e. the tax cuts on the corporate side as well as the individual side.

...

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