Dow Drag Down, Apple’s Coronavirus Warning, Walmart CEO Doug McMillon, Zuckerberg: Big Tech Needs More Regulation

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 18 February 2020

⏱️ 51 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla, Jim Cramer and David Faber discuss stocks falling on Apple’s coronavirus warning. The tech giant cautioning it does not expect to meet its quarterly revenue forecast, citing slowed production and weakened demand in China as a results of the coronavirus outbreak. Plus, an exclusive with the CEO of the world’s largest retailer – Walmart – after posting disappointing results on the heels of a tough holiday season. And why Facebook’s CEO, Mark Zuckerberg says big tech needs more regulation.

Transcript

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0:00.0	Market Moving Insight and Analysis.
0:02.0	Join Jim Kramer, David Faber, and me, Carl Kintania, on the opening bell hour of CNBC Squawk on the Street.
0:12.3	Good Tuesday morning.
0:13.4	Welcome to Squawk on the Street.
0:14.4	I'm Carl Kintania with Jim Kramer, David Faber, the New York Stock Exchange.
0:17.7	A lot of news to start a holiday shortened week.
0:19.9	Dow futures are down. As Apple does
0:21.6	warn on Q1, Walmart misses a guides below. U.S. weighs some wider restrictions on Huawei.
0:26.8	Europe is firmly read on similar growth concerns. Got the 30-year yield below two this morning
0:31.7	and the 10-year around 155. Our roadmap begins with Apple's coronavirus warning, cautioning it does not expect to meet quarterly
0:39.2	revenue forecasts.
0:40.5	Shares are sinking and dragging the Dow down with it.
0:43.0	Plus, quote, big tech needs more regulation.
0:45.8	My Mark Zuckerberg is calling for more scrutiny of Facebook.
0:49.9	And Walmart earnings and outlook fall short as the holiday season takes a hit.
0:53.7	We're going to hear exclusively from Doug McMillan in just a few moments.
0:58.1	We'll start there with Apple down in the pre-market.
0:59.9	The company does warn it will not meet its prior revenue projection due to the coronavirus outbreak.
1:04.5	Apple says the virus has limited iPhone production and resulted in weaker demand in China.
1:09.3	Jim was just talking about getting hit on both the supply and the demand side,
1:12.9	although that original range was above estimates.
1:16.2	So how much are we really losing?
	...

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