Megacap Tech Turns Up, Major Cable Deal, Novo Nordisk CEO Steps Down 5/16/25

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 16 May 2025

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Carl Quintanilla, Jim Cramer and David Faber kicked off the hour by discussing the S&P aiming for its 5th straight day of gains, with megacap tech stocks leading the charge. Nvidia and Tesla shares were up double digits since Monday. Faber also broke down the deal of the day, as Charter announced it would acquire Cox Communications to create one of the largest cable companies in the U.S. Also in the mix: Novo Nordisk announced that CEO Lars Jorgensen would be stepping down from his role, citing recent market challenges. Shares of Novo Nordisk were down more than 50% over the last full-year of trading. Squawk on the Street Disclaimer

Transcript

Click on a timestamp to play from that location

0:00.0	It's Jim Kramer here.
0:01.3	You're listening to the opening bell of CBC's Squawk on the Street.
0:04.7	Don't miss a minute of the action. Good Friday morning. Welcome to Squawk on the Street. I'm Carl Kintanao with Jim Kramer, David Faber, post-9 of the New York Stock Exchange. Bulls trying to nudge the S&P ever closer to 6K as these yields come in after Thursday's spike. Got our first big M&A deal since April 2 and all those 13 Fs to play with.
0:23.8	Our roadmap begins with stocks. field's come in after Thursday's spike. Got our first big M&A deal since April 2 and all those 13 Fs to play with.
0:23.6	Our roadmap begins with stocks trying to build on this recent run.
0:26.6	S&P's coming off four straight days of gains, techs on pace for the best week and over a month.
0:31.6	Keeping an eye on the shares in Nova Nordisk.
0:33.6	They're dropping this after its CEO, stepping down in the face of what is, of course, a very
0:37.5	competitive obesity drug market, namely with Eli Lilly.
0:41.4	And cable mega deal this morning.
0:44.4	Yeah, got your attention, right?
0:45.8	Jim Charter is going to acquire privately held Cox Communications.
0:50.1	It's only been around 126 years as a company, creating one of the largest cable companies in the U.S.
0:56.1	And, of course, it is one of the biggest deals we've seen as well so far this year.
1:00.8	Let's get to the markets this morning. S&P is aiming for five straight positive sessions.
1:05.1	Tech is leading the way this week.
1:06.7	Invidia and Tesla up double digits since Monday, Jim.
1:10.2	XLK, up 30% since April 8th.
1:12.6	Well, look, I think that there was this major decision that the president made,
1:16.3	which is that without saying in point blank,
1:18.5	he's repealing the rules that Biden, the midnight rules that Biden set up
1:22.7	about the 18 friendly countries that can get NVIDIA,
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.