Netflix Shares Plunge on Q4 Results, Intel Announces New Plants in Ohio & Airbnb Co-Founder and CEO Brian Chesky’s Nationwide Rental Journey

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 21 January 2022

⏱️ 49 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Our anchors start today’s show covering shares of streaming giant Netflix plunging after reporting Q4 results and interactive fitness company Peloton temporarily halting production of key bikes and treadmills, with insight from Verge Editor-in-Chief Nilay Patel. Then, CNBC’s Mike Santoli reports on the deepening sell-off, and our Jon Fortt recaps his earlier interview with Intel CEO Pat Gelsinger as the chipmaker announces a series of new plants in Ohio. Next, MoffettNathanson Founding Partner Michael Nathanson visits after cutting his price target on Netflix, and lodging platform Airbnb Co-Founder and CEO Brian Chesky joins as he kicks off his plan to live in Airbnb rentals for the coming weeks. Later, our anchors break down the amount big tech names including Meta, Amazon and Microsoft spent on lobbying in 2021. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0	I'm Julia Borsden and you're listening to CNBC's Tech Tech. Our show is live weekdays at 11 a.m. Eastern, listen in.
0:24.6	Good Friday morning and welcome to Tech Check.
0:26.9	I'm Deirdrebozo with John Ford and Julia Borson.
0:28.3	Carl has the morning off today.
0:30.8	Hey, Netflix investors, don't look up.
0:34.7	The stock is getting absolutely crushed this morning with Wall Street turning bearish,
0:36.1	dragging tech lower.
0:39.7	Netflix shares on pace for their worst day in a decade.
0:43.5	The NASDAQ is on pace for its worst weeks since March of 2020.
0:46.6	Plus, more from Intel CEO Pat Gelsinger this hour,
0:51.0	with the president set to make an announcement on chip production any minute.
0:52.0	That's coming up to.
0:57.3	And just like that, more paying for Peloton company halting production as demand disappears.
0:59.6	Is a possible buyout ahead?
1:02.1	We will discuss all of that, John.
1:03.1	Yes, indeed.
1:04.2	And let's start with Netflix.
1:09.0	The streamer 24% lower at the moment after reporting Q4 results.
1:11.9	EPS beat revenue was in line, but the company says competition's weighing on growth. For the full year, Netflix saw 18 million net ads compared
1:17.4	to 37 million a year ago. Guidance the big miss. Analyst had been looking for a subscriber
1:23.0	growth of about 7 million, but Netflix says, expect a number closer to 2.5, more than eight Wall Street
1:29.3	firms downgrading the stock this morning, and a key question, has the growth story shifted
	...

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