Earnings Parade: McDonald's, Hasbro, & More; Verizon CEO Exclusively Announces it's offering customers a year of Disney + Free & UPS CEO on Earnings.
Squawk on the Street
CNBC
4.1 • 567 Ratings
🗓️ 22 October 2019
⏱️ 49 minutes
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| 0:00.0 | Market Insight and Analysis. You're listening to the opening bell of CNBC, Squawk on the Street. |
| 0:10.1 | Good Tuesday morning. Welcome to Squawk on the Street. I'm Carl Kintenei with Jim Kramer, David Faber at the New York Stock Exchange. |
| 0:15.5 | Pre-market watching and waiting here. Future's relatively flat as earnings roll in. Proctor at UTX, among the standouts, McDonald's and Hasbro |
| 0:23.2 | with some disappointments. Big Brexit showdown today is the House of Common Votes, and a 10-year |
| 0:28.2 | right around 177. Our roadmap begins with a slew of corporate results. Four Dowell components |
| 0:33.4 | reporting, McDonald's P&G, UTX, and Travelers. Shares of Biogen, take a look because we will. |
| 0:38.3 | They are soaring the drug makers set to seek regulatory approval for a treatment for Alzheimer's early next year. |
| 0:45.3 | And UPS shares sinking ahead of the open despite a pretty nice e-commerce boost to profit. |
| 0:51.3 | CEO David Abney is going to join us later this hour. |
| 0:53.3 | And the CEO Verizon as well |
| 0:55.6 | will be here at Post 9 in a few minutes. We're going to have an interesting announcement. |
| 0:59.9 | Another guest as well, but I guess it's a mystery, so we'll wait to solve it in a few minutes. |
| 1:05.6 | Let's start with earnings and dive right in. A tale of two Dowd Components, P&G up in the |
| 1:09.6 | pre-market, quarterly beat, helped by strong demand for its premium beauty brands. And then there's McDonald's falling on an earnings miss as growth in U.S. comps came in below forecasts. U.S. on McDonald's 4-8 looking for 5-2. J.P. Morgan told us on October 1st that the quarter was going to run a little light. Yeah, look, I'm so good you mention that because a lot of people are saying, |
| 1:30.8 | wow, this is a big surprise and a negative surprise. |
| 1:33.9 | But if you listen to what J.P. Morgan said, then you would have been ready for exactly this number, |
| 1:38.8 | which basically to me says not as bad as feared. Global number 5.9%. |
| 1:45.3 | That's a number that is just extraordinary. |
| 1:47.3 | I've seen the stock down eight. |
| 1:48.6 | It's now down six. |
| 1:49.7 | Look, what can I say? |
| 1:51.0 | If you read the release, you would think that there's absolutely nothing wrong. |
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