Lessons from GameStop; AMC in the Streaming Wars; Profits for P&G

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 19 October 2021

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The SEC’s long-awaited report on GameStop is finally here, a full 44 pages on the trading frenzy, payment-for-order-flow, and stock market “gamification.” Streaming wars are heating up as Wall Street watches subscriber growth numbers for the industry’s biggest players. Interim AMC Networks CEO Matt Blank shares his own company’s strategy for competing with Netflix, HBOMax, and Amazon Prime, and details a plan to bring linear content to streamers. Procter & Gamble topped analyst expectations in its quarterly report, but commodity and freight costs are weighing on the company’s profits. Vice Chairman and incoming CEO Jon Moeller discusses P&G’s business in China, corporate tax rates, and managing kinks in the supply chain. Plus, Covid vaccine mandates have put even more pressure on the labor force; some employers are dismissing those who refuse to get vaccinated, despite a difficult hiring environment. In this episode: Matt Blank, @AMC_TV Jon Moeller, @ProcterGamble Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin

Transcript

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0:00.0	Bring in show music please.
0:04.0	This is Squawk Pod. I'm C. NBC producer Katie Kramer.
0:08.0	Today on our podcast.
0:10.0	The Game Stop Post Mortum, the SEC has finally released its findings on Me
0:15.0	Madness. We're breaking down the details.
0:17.6	When you start talking about the creativity of the financial markets,
0:20.3	most of the time that doesn't lead to great things.
0:22.4	Higher prices hit the household aisle. markets most of the time that doesn't lead to great things.
0:23.0	Higher prices hit the household aisle Proctor and Gamble's incoming CEO.
0:27.0	I'd say there's still a ways to go for the market forces to work and equalize the supply and demand situation in different parts of the world.
0:36.0	So we're not through it.
0:37.9	And traditional cable networks are not the Walking Dead fighting the streaming wars and zombies with AMC Network's Matt Blank.
0:45.4	We can't compete on a cost basis with Netflix or HBO Max or Prime, so we'll continue to do our thing
0:51.5	and you know you never know where the next grade hit is going to come from
0:54.7	And speaking of big hits we're still talking about squid game have you watched yet the last half hours just people moving forward and just getting
1:03.6	powo. Don't worry, no spoilers.
1:06.0	It's Tuesday, October 19th, 2021.
1:09.6	Squawk Pod begins right now.
1:22.0	First up, today on the pod, the SEC is out with a much anticipated report on the Game Stop Saga.
1:24.0	In January of this year, the stock of the gaming retailer rallied more than 2,700 percent.
1:30.7	The surge shone a light on the community of new individual traders sharing memes and tips on Reddit message boards and the stocks startling rise appeared to be an effort by little guy investors to stick it to hedge funds that had shorted the stock.
1:46.2	In this hotly anticipated report, Wall Street's main regulator said online brokersges are
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