Microsoft Announces Layoffs, Mastercard CEO Michael Miebach on Consumer Demand & Walmart Ups Investment in Tech 1/18/23

TechCheck

CNBC

Disruptors, Tech, Technology, Cnbc, Management, Business, Faang, Investing

4.5 • 66 Ratings

🗓️ 18 January 2023

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors begin today’s show with Verge Editor-in-Chief Nilay Patel and CNBC’s Steve Kovach discussing the one-year anniversary of Microsoft announcing plans to acquire Activision-Blizzard. Then, Mastercard CEO Michael Miebach offers his outlook for consumer demand, inflation and the reopening of China, and our Julia Boorstin takes a deep dive into media stocks with Netflix reporting earnings tomorrow. Next, NorthmanTrader Founder Sven Henrich offers his outlook for the Nasdaq, and CNBC’s Frank Holland reports on Walmart’s investments in tech to boost sales. Later, Bernstein analyst Mark Moerdler joins after naming Microsoft his top long-term recession pick.

Transcript

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0:00.0	I'm John Ford. You're listening to CNVC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Listen in.
0:06.8	Good Wednesday morning. Welcome to Tech Check. I'm Gior DiBosa with Carl Quintanilla and John Ford.
0:11.5	At this hour, Microsoft cuts 10,000 jobs.
0:14.4	Why sat to his warning, excuse me,
0:17.3	have a severe slowdown in spending.
0:18.9	Plus, its pending deal for Activision.
0:21.6	One year later, then we're back in Davos with an exclusive for the CEO of MasterCard.
0:27.0	Retail sales indicating a weak consumer to close out the holiday season.
0:32.0	His outlook for Q1 is next. Later,
0:35.0	Morgan Stanley likes Uber as its top pick for 2023.
0:38.0	Why They Think a near 90% upside is coming for that stock this year.
0:42.0	Plus, we will hear from CEO Darra Kausra Shahi.
0:46.0	And let's get a check on the markets with stocks looking for direction on the back of
0:51.4	weaker than expected inflation data and falling yields.
0:55.9	Right now you can see the overall indices not doing too much.
1:00.1	The Dow is down about 150 points, the S&P about flat in the NASDAQ also about flat,
1:06.3	maybe peeking into the green a little bit. NASDAQ aiming for its seventh straight positive day.
1:11.4	Something that didn't happen at all last year, that many days in a row,
1:16.6	plus energy and discretionary are your leaders, staples and utilities, the so-called safety plays lagging.
1:23.4	Chip sector getting a nice bump with Seagate, Qualcomm,
1:26.5	and NXP leading.
1:27.6	And Moderna, leading the S&P after announcing
	...

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