Meta shares surge after earnings, and the future of First Republic 4/26/23

CNBC's "Fast Money"

CNBC

News, Business, Investing

3.9 • 1.3K Ratings

🗓️ 26 April 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Shares of Meta jumped in the after-hours. The company posting better than expected revenues for its latest quarter, but a big drop in its Reality Labs unit. Plus another rough day for shares of First Republic. Can the regional bank survive the weekend, and should it? Fast Money Disclaimer

Transcript

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0:00.0	Right now in FASMETA's major move higher, the SOC popping on a revenue beat in a better
0:05.8	than expected forecast will go inside the numbers coming up, plus Microsoft's full
0:09.9	throttle move into artificial intelligence getting investors all fired up.
0:13.7	The SOC's surging post earnings and helping to boost tech names like Amazon and Vidya
0:17.2	and more.
0:18.2	We got a deep dive just minutes away, and then, first republic's ferocious fade, the
0:22.3	SOC tumbling another 30% today.
0:25.2	In February, the SOC was worth 26 billion dollars, and today, just a billion.
0:29.4	Look at what happens next straight ahead, and later Chipotle's day after burrito blow
0:33.9	out.
0:34.9	It's not going that blow out.
0:36.6	Oil's big slide and Tesla loses one of its Wall Street polls.
0:40.3	I'm Melissa Lee.
0:41.3	This is FASMETA, we're live with the Nasdaq Marketside in the hard-of-time square on the
0:44.3	deaths tonight.
0:45.3	Tim Seymour, Karen Fineman, Steve Brassow, and Guy Downey all here in the house.
0:48.8	We start off with an earnings alert on Meta, the SOC jumping nearly 12% after posting better
0:53.8	than expected revenue for the latest quarter.
0:55.6	The conference call is just getting underway.
0:58.2	Julia Borsen's got the very latest on the numbers.
1:00.4	Julia.
1:01.4	Melissa Meta, beating expectations really across the board.
	...

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