Coronavirus Fears Spreading, Earnings Boost the Dow, Sources Say Sprint, T-Mobile Unlikely to Appeal Judge’s Ruling

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 24 January 2020

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla, Jim Cramer and David Faber discuss the latest on the Coronavirus. The illness is continuing to spread, as the death toll rises to 26 with more than 900 confirmed cases worldwide. Shanghai Disney closes its doors in attempt to contain the spread of the deadly virus. McDonald’s suspending business in five cities in China. And the major averages in the green getting a boost from Intel and American Express. David Faber reports sources say Sprint and T-Mobile are highly unlikely to appeal a judge’s ruling, as the two attempt to close their deal. And on this day in 2006, Disney agreed to acquire Pixar for $7.4 billion dollars.

Transcript

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0:00.0	Market insight and analysis. You're listening to the opening bell of CNBC, Squawk on the Street.
0:10.7	Good Friday morning. Welcome to Squawk on the Street. I'm Carl Kintaner with Jim Kramer, David
0:14.4	Faber, the New York Stock Exchange. Future's up solid to start this final day of the week as the market
0:18.9	looks past the impact of China's
0:21.0	coronavirus. Instead, focus on global PMI, stabilizing this blowout quarter from Intel. Europe,
0:26.4	very strong up 1 to 1.5 percent. Bonds rally as well, 10-year 172. Our roadmap begins with
0:32.3	health fears. At least 26 people now have died from that fast-spreading coronavirus.
0:36.8	Shanghai Disney is closing.
0:38.1	McDonald's reportedly suspending business in five cities and 70,000 movie theaters now going dark.
0:44.7	Shares of Intel this morning, they're soaring ahead of the open. The chip maker forecasting
0:48.7	a cloud spending slowdown ahead. This is at stock trades at levels not seen since 2000. And Apple shares more
0:56.8	than doubling in the past year. The company raising its semiconductor orders for the new phone.
1:01.2	Does that stock have more room to run? We're going to start, though, with the coronavirus.
1:05.8	Here's what we know so far. China's National Health Commission says as many as 26 have died
1:10.8	from the fast-spreading virus.
1:12.0	The total number of cases rising to 926, an expanded travel lockdown affecting more than 36 million people in 11 cities.
1:20.4	As we said, Shanghai Disney has been shuttered now for a while.
1:23.6	McDonald's reportedly suspending business in five cities due to the virus.
1:27.3	But World Health Organization says the outbreak has yet to constitute a global health emergency gym,
1:33.8	and they are going to reconvene in 10 days to reconsider.
1:36.7	I thought that was important because they obviously can declare it that and just make it so that we are shut down.
1:45.5	Like, everybody's shut down.
	...

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