KALANICK OUT AT UBER, NEUMANN’S GOLDEN PARACHUTE, SANTA RALLY AS STOCKS NEAR RECORD HIGHS

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 24 December 2019

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

“The Squawk on the Street” gang talks Uber as its former CEO & Co-founder exits the board of directors. Travis Kalanick announces he’s leaving effective December 31st. Stocks nearing record highs on a shortned Christmas Eve trading session. Plus, Adam Neumann’s golden parachute could balloon to $2 billion dollars from $1.6 billion, according to reports. And it’s the stock of the decade, Netflix.

Transcript

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0:00.0	Market Moving Insight and Analysis.
0:02.0	Join Jim Kramer, David Faber and me, Carl Kintanilla,
0:05.0	on the opening bell hour of CNBC Squawk on the Street.
0:12.0	Good Tuesday morning. Welcome to Squawk on the Street.
0:15.0	I'm Carl Kintanio and David Faber at the New York Stock Exchange.
0:17.0	Kramer is the morning off and joining us for the hour.
0:19.0	Jim Stewart Pulitzer Prize winning columnist with The New York Times, a CNBC contributor, author of Deep State,
0:24.9	Trump, the FBI, and the rule of law. Rally rolls on today. We think as the NASDA goes for
0:30.6	10 consecutive gains, only two times this decade as it managed such a streak.
0:35.6	U.S. equities close at one Eastern. bond market closes the two ahead of tomorrow's holiday.
0:40.3	Our roadmap begins with the Santa Rally. The NASDAQ with nine consecutive record closes, longest streak since 1998.
0:46.9	Retailers are bracing for that last-minute rush on this final shopping day before Christmas, but delivery companies also under pressure from the late
0:54.3	push.
0:55.5	And WeWork's co-founder Adam Newman may have big reasons to smile this holiday season.
0:59.5	A report says his $1.6 billion exit package could get sweeter.
1:03.9	We will fill you in.
1:05.6	So with markets and record territory, investors are in a much better mood than they were a year
1:09.3	ago today.
1:10.0	If you recall, the 2018 Christmas Eve period saw the Dow tumble 653 points. S&P down to 7, NASDAQ with a
1:18.6	140 drop. Since then, those stocks have obviously surged. The NASDAQ leading the major indices with a
1:23.7	44% gain since then. We forget.
1:30.0	December 26th we came in the day after Christmas,
	...

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