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Squawk on the Street

Coronavirus Uncertainty, Expedia Suspends 2020 Forecast & JEDI Blocked

Squawk on the Street

CNBC

News, Business, Investing

4.1567 Ratings

🗓️ 14 February 2020

⏱️ 43 minutes

🧾️ Download transcript

Summary

Carl Quintanilla, David Faber & Jim Cramer discuss the continued coronavirus uncertainty, but stocks on track for a 2nd straight weekly gain. Plus, Expedia suspends its 2020 forecast with Chairman Barry Diller weighing in on the coronavirus risk – “is it a pandemic? I don’t know.” And, a federal judge temporarily blocks Microsoft’s pentagon cloud contract, just what’s it mean for the future of JEDI and the Amazon lawsuit.

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.

0:08.0

I'm Carl Kington here with Jim Kramer, David Faber, the New York Stock Exchange.

0:12.1

Futures are flat as we get set to close out this record-setting week, and the market balances coronavirus headlines, and more strong earnings from chip makers like nVIDia a fifth month up on

0:21.3

retail sales europe is mixed german gdp not too inspiring yields are set to end the week down

0:26.9

but oil should post a weekly gain our roadmap begins with virus fears coronavirus cases surging again

0:32.9

wall street still headed for strong gains for the week s and dP and Dow up more than 1% the past five sessions.

0:39.0

Plus, shows of Expedia are surging this morning.

0:40.9

The company did beat on earnings.

0:42.6

It suspended its 2020 forecast on coronavirus uncertainty.

0:47.6

And as well, we're going to be talking with the CEO of Roku later this morning, which also reported numbers.

0:55.9

And Jedi blocked a federal judge temporarily halting Microsoft's Pentagon Cloud contract after an Amazon suit.

1:03.5

So for the second straight day, the number of confirmed cases of coronavirus shot higher.

1:07.9

Chinese authorities reported more than 5,000 new cases and 120 more deaths.

1:13.3

The death toll now stands at nearly 1,400.

1:16.0

And total cases, you're getting into the range of 64,000.

1:20.1

As increasingly, guys, the conversation's turning to diagnostics as opposed to the spread itself.

1:26.1

Right.

1:26.4

And there have been a number of articles

1:27.9

that are very subjective about what's happened. Some of them say that, look, they're,

1:34.2

that it could be a 24-day incubation, so what they thought, or they were letting people go

1:38.7

and they shouldn't have. Some of it, I don't know if you heard Secretary Azar, but he said

1:43.5

that they won't tell us anything, which is obviously not encouraging, but some of it, I don't know if you heard Secretary Azor, but he said that they won't tell us anything,

...

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