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Squawk on the Street

Highlights of David Faber's "Jeopardy!" Guest Hosting Debut, China's "Spiritual Opium" Message Hits Tencent and Videogame Stocks, Alibaba's E-Commerce Growth Slowdown, COVID Spikes Hit the Reopening Trade, and Pepsi's $3.3B Juice Sale.

Squawk on the Street

CNBC

News, Business, Investing

4.1567 Ratings

🗓️ 3 August 2021

⏱️ 44 minutes

🧾️ Download transcript

Summary

Carl Quintanilla, Jim Cramer and David Faber led off the program by talking about David's debut as guest host of "Jeopardy!" -- the first episode aired Monday. It was a fun discussion that went into everything from the highlights of the show to how social media reacted to David's performance. As for the markets, the anchors explored developments out of China that sparked regulatory fears: Shares of Tencent fell sharply -- dragging down several video gaming stocks around the globe -- after a Chinese state media outlet criticized online gaming as "spiritual opium." China’s Alibaba saw shares fall on a quarterly revenue miss as e-commerce growth slowed amid heightened competition. Also in focus: Clorox shares tumble on weaker-than-expected quarterly results, PepsiCo agrees to sell juice brands including Tropicana and Naked to a French private equity firm for $3.3 billion, Micron's first-ever dividend, media stocks under pressure, Florida's spike in COVID cases and what's at stake for Disney, and Reese Witherspoon agrees to sell her media company to a venture led by Blackstone for $900 million. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0

It's Jim Kramer here. You're listening to the opening bell of CNBC Squawk on the Street.

0:04.6

Don't miss a minute of the action.

0:08.0

This is Squawk on the Street. Let's meet today's contestants.

0:13.7

A television anchor and music and film aficionado from Denver, Colorado, Carl Quintanilla,

0:19.9

a famed stock market investor and restaurateur from Philadelphia, Colorado, Carl Quintanilla. A famed stock market investor and rest ature

0:23.4

from Philadelphia, Pennsylvania, Jim Kramer.

0:27.5

And a returning champion,

0:30.1

an award-winning journalist from Queens, New York, David Faber.

0:34.5

And now, here is your opening bell countdown on CNBC.

0:44.5

David Faber, kicking off his week-long stint on Jeopardy last night to some stellar reviews.

0:50.8

Good Tuesday morning. Welcome to Squawk on the street. I'm Carl Kintanaia with Jim Kramer and

0:54.3

David Faber at the New York Stock Exchange. DowS&P Futures looking to get back some of Monday's losses.

0:59.3

Investors are weighing delta variant concerns, but also watching data that shows a big

1:03.3

increase in vaccinations and a number of companies raising guidance today, including Under Armour,

1:07.9

DuPont, Ralph Lauren, and Moore. Jim, though, you've got to start with last night's Jeopardy, which is really lit up Twitter, I think, right? David, wouldn't you agree? You've got to be pleased with the response. It's rare that I've seen Twitter be so kind. I will say that, and that's been very nice, and I appreciate everybody's very kind comments and certainly

1:28.6

look forward to everybody watching the rest of the week it's good week it did feel like david had

1:33.0

done it hundreds of times you are so smooth you made everyone feel comfortable you were comfortable

1:39.9

some incredibly hard clues last night and i felt bad for the the contestants, including the final jeopardy. Final jeopardy was very hard. I did, John Jacob Astor being the correct response. I did bet the producers, they're like, nobody's going to get this. And they said, you don't know our contestants. But in this case, I was right. There were some others during the week, though, where I was wrong.

2:34.9

People got them. And I was like, nobody's going to get this one either. And they do. They get them. It's magnificent to watch you, and I'm so proud of you. I mean, kind of like I'm calling everyone. You put my partner on as if somehow I'm involved. Because it was so exciting. And your calm nature. like even, you know, they have those questions. So you punched your brother. David made that in. So you like to dress up as a shrimp at the mermaid parade. I mean, I'm like, listen to him. I said, that's our partner. Carl, he was just all business. Look at him. Look how good he loves. The smile. That's confidence.

2:35.9

In fact, if you missed it last night,

2:37.8

and you have plenty of chances this week to hear more, take a listen to this.

2:43.1

Matamodio, you entered Final Jeopardy with 34,200.

...

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