Consumer Concerns, Musk: “Hold Onto Your Stock”, Honing in on Housing 3/21/25

Squawk on the Street

CNBC

Business, News, Investing

4.1 • 567 Ratings

🗓️ 21 March 2025

⏱️ 46 minutes

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Summary

Sara Eisen and Jim Cramer broke down the big drop in shares of Nike and FedEx following their respective quarterly results. Both CEOs warned about a slowing economy on their conference calls, with the FedEx CEO citing an “uncertain demand environment.” The show also hit shares of Tesla on pace for its 9th straight week of losses. During an all-hands employee meeting yesterday, CEO Elon Musk tried to reassure his employees to “hold onto your stock.” Also in the mix; Jim Cramer hit Lennar for his ‘Mad Dash’ following the company’s big drop in share price despite posting a beat on earnings. Squawk on the Street Disclaimer

Transcript

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0:00.0	It's Jim Kramer here. You're listening to the opening bell of CBC Squawk on the Street.
0:04.7	Don't miss a minute of the action.
0:08.0	Good Friday morning. Welcome to Squawk on the Street. I'm Sarah Eisen at post-9 of the New York Stock Exchange.
0:13.0	Jim Kramer is live from Las Vegas again this hour. Carl and David have the morning off.
0:17.8	Taking a look at futures, as the gang just showed you.
0:20.7	We are at lows of the
0:21.8	session pre-market. Dow's set to open lower by more than 300 points. Nasdaq down 218. So tech again
0:29.2	at the center of the storm. The S&P futures down 52 points. It looked like we were going to get a
0:33.8	game for the week for the S&P, breaking four weeks of losing, but we're only up four tents heading into today.
0:40.7	So that could be in jeopardy.
0:41.7	Our roadmap begins with the consumer slowdown watch.
0:45.0	FedEx cutting guidance, and Nike forecasting and other sales decline shares of both sharply lower ahead of the open.
0:51.0	Plus, with Tesla shares now more than 50% off recent high, CEO Elon Musk,
0:55.8	delivering a late-night message to employees, quote, hang on to your stock and travel chaos,
1:00.9	more than 1,300 flights canceled as a power outage shutters London's Heathrow Airport. We'll get to
1:06.3	all of that. Let's get to FedEx and Nike, though. Top of mind, those stocks under pressure
1:10.3	following their
1:10.8	latest earnings results, both warning of a weaker economy and consumer. Here's FedEx CEO,
1:16.1	Raj Subramanian, on the call last night. As you look to the fourth quarter, in light of the
1:22.9	uncertain demand environment and higher than previously expected inflationary pressures on our cost
1:29.8	base we are lowering our FY 25 adjusted EPS outlook to $18 to $18 and 60 cents
1:40.4	Jim I know you like this one this had had to be disappointing. Third consecutive guidance cut.
	...

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