McDonald’s Slides on E. Coli Outbreak, Starbucks Slumps, Boeing CEO Exclusive 10/23/24

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 23 October 2024

⏱️ 50 minutes

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Summary

Carl Quintanilla, Jim Cramer and David Faber discussed big stories on the food front: McDonald's shares down sharply after the CDC linked an E. coli outbreak to the company's Quarter Pounder hamburgers. Starbuck shares also under pressure after the coffee chain suspended guidance for fiscal 2025 and announced preliminary Q4 results that disappointed Wall Street. Boeing CEO Kelly Ortberg joined the program to talk about his turnaround plans for the jet maker -- after it posted a $6 billion loss in Q3, ahead of Wednesday's key union workers' vote on a wage deal that could end a weeks-long strike. Also in focus: Earnings from the likes of AT&T and Coca-Cola, Arm to cancel Qualcomm's chip design license, Jim tees up something special he has in store for Thursday. Squawk on the Street Disclaimer

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0:00.0	It's Jim Kramer here.
0:01.3	You're listening to the opening bell of CBC Squawk on the Street.
0:04.7	Don't miss a minute of the action.
0:08.4	That's great.
0:13.4	Good Wednesday morning.
0:14.5	Welcome to Squawk on the Street.
0:15.5	I'm Carl Kintanier with Jim Kramer, David Faber, post-9 of the New York Stock Exchange.
0:19.2	Futures once again under some pressure as yields creep up to some July highs.
0:22.6	McDonald's weighing on the Dow, big morning for the corporate giant earnings, AT&T, Coke,
0:27.6	and we'll talk to the CEO of Boeing later on this hour.
0:30.6	Our roadmap begins with the heart of earnings season, Boeing, AT&T, among the names crossing the tape today.
0:36.6	Boeing CEO will join us exclusively in a few minutes. Plus, may McDonald's share this season, Boeing, AT&T, among the names crossing the tape today.
0:40.0	Boeing CEO will join us exclusively in a few minutes.
0:44.7	Must make Donald shares our tumbling this morning, at least ahead of the open, a deadly E. coli outbreak linked to its quarter pounders, sickenes dozens intense fades.
0:51.0	And Starbucks seeing a, quote quote pronounced traffic decline.
0:55.0	Sales are falling. What it means for Brian Nichols' turnaround plan will discuss.
1:00.0	Let's begin with the big news on the food front and that begins with McDonald's.
1:04.0	The CDC, as you may know by now, says an E. coli outbreak linked to the company's quarter pound of hamburgers
1:10.0	resulted in the death of one person,
1:12.1	sickened 49 in the U.S. The outbreak was reported in 10 states, and at least 10 people have been sent to the
1:17.9	hospital. This is what the president of McDonald's USA had to say this morning on the Today Show.
1:24.2	We took swift action yesterday to remove the quarter pounder from our menu.
	...

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