Closing Bell Overtime: Tesla Headlines Earnings Bonanza; Virgin Orbit CEO’s First Interview Since Bankruptcy 4/19/23

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 19 April 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

It’s an earnings bonanza: Tesla, IBM, Las Vegas Sands, Zions, and Lam Research headline a busy afternoon. Our reporters give you the instant reaction while Bespoke’s Paul Hickey and Schwab’s Omar Aguilar break down today’s market action. Tesla bear Craig Irwin gives his take on the EV maker’s latest quarterly numbers. NBER Director Charles Dallara has seen many market ups and down; he joins to discuss the state of the economy and where things go form here. Evercore’s Amit Daryanani weighs in on IBM’s strong quarter. Plus, an exclusive interview with Virgin Orbit CEO Dan Hart in his first public comments since the company went bankrupt.

Transcript

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0:00.0	Well, Flat Day for the S&P, which is finishing right around 4154.
0:04.7	That is the scorecard on Wall Street, but the action is just getting started.
0:08.4	Welcome to Closing Bell overtime.
0:09.4	I'm working Brennan with John Fork.
0:11.0	Buckle up.
0:11.8	We have got a huge hour of earnings.
0:14.0	We're going to get numbers from Tesla with margins in sharp focus as the company cuts prices
0:18.7	yet again on some models.
0:20.4	Plus we're awaiting results from IBM, one of last year's rare winners when Tesla was losing
0:26.4	reversal of fortunes in 2023 and we're also going to get earnings from Las Vegas
0:31.6	Sans Land Research, Zionines Bank Corp, and more.
0:35.6	As we await those numbers, though, let's get to our market panel.
0:38.6	Joining us now are Paul Hecky from Bespoke Investment Group and Omar Agolilar from Schwab Asset Management.
0:43.7	Good afternoon to you both.
0:45.4	Omar and I will start with you because in your notes you're saying you're watching the
0:49.4	seas. What are the seas?
0:52.0	Well, we're basically taking into consideration all the parts of the
0:55.4	economy the market so they we call it the four seas which is the first one
1:00.2	relates to inflation we're obviously looking at the latest
1:03.1	spread of the CPI was encouraging. We're looking at China and
1:06.9	obviously the effects that the China will have on commodities and
1:10.5	therefore in inflation. So that's the first round of things that we look at.
	...

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