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Closing Bell

Closing Bell Overtime: Seesaw session, After hours action galore, Unity Software CEO on post-earnings tumble 2/23/23

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 23 February 2023

⏱️ 44 minutes

🧾️ Download transcript

Summary

Stocks finished the day higher after taking a mid-day tumble, as investors await a key inflation report. Paul Hickey from Bespoke and Adam Crisafulli from Vital Knowledge break down the market setup and react to a barrage of earnings from the likes of Carvana, Booking Holdings, and Warner Bros. Discovery. Analyst David Koning gives his take on Block’s quarterly report. The CEO of Unity Software talks about his outlook for the company after shares fell double digits on soft guidance. Plus an update on the NTSB’s investigation into the Norfolk Southern derailment.

Transcript

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0:00.0

Well, you got the scorecard on Wall Street, but winners stay late.

0:03.4

Welcome to Closing Bell Overtime, I'm John Fort, along with Morgan Brennan and Morgan,

0:08.6

the earnings are going to be coming fast and furious this hour.

0:11.6

We got reports from Carvana, Block, booking

0:14.5

Holdings into it. Warner Brothers Discovery, Autodesk, and more.

0:18.3

That's right and we're going to bring you all those headlines as they cross.

0:21.8

Plus we're going to talk to the CEO of Unity Software,

0:23.9

which is falling sharply today on the back of that company's results.

0:28.0

Well, let's get straight to our market panel.

0:30.5

Joining us now, our Adam Chris Afooli from Vital Knowledge and Paul

0:33.8

Hickey from the Spoke Investment Group Adam you've been saying that

0:39.3

dips to 4k or lower should be bought and that's exactly the right playbook for today.

0:45.6

We ended up right around that level but what do investors do from here would you say?

0:51.2

Add to positions and wait for dips or try to look for the next

0:54.8

Palo Alto networks and next NVIDIA? Yeah I think for the broader S&P dips down

1:00.3

you know to the level that we got to yesterday, especially below 4,000, which we were below briefly, should be bought.

1:07.0

I think you're in, you know, this, you're in a tough patch of data right now that has helped move yields higher. I think we're going to move out of it

1:16.1

relatively soon the next couple of weeks. I think you're going to see more pronounced

1:19.6

disinflation setback in. I think you're going to see the jobs momentum fade off of that big hot January figure.

1:26.0

So that's going to help relieve some of the pressure from yields and from fed hawkishness.

1:30.0

And then I think earnings overall over the last several weeks, it's been far from a perfect season,

1:34.8

but I think companies are a lot more resilient than they're often getting credit for.

...

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