Netflix Surges on Subs Beat, New Market Records, Tesla Earnings Countdown 01/24/24

Squawk on the Street

CNBC

Business, Investing, News

4.1 • 567 Ratings

🗓️ 24 January 2024

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Carl Quintanilla, Jim Cramer and David Faber led off the show with Netflix's big rally. Shares surged after the streaming service reported 13.1 million new subscribers in Q4, handily beating forecasts. The anchors also discussed what Dwayne "The Rock" Johnson and TKO CEO Ari Emanuel told them Tuesday at Post 9 about Netflix streaming WWE Raw beginning in 2025. Also in focus: Netflix and the chip sector boost the S&P 500 to fresh record highs, what to expect from Tesla's after-the-bell earnings, AT&T slumps on guidance, layoffs at eBay and SAP, Alaska Air CEO slams Boeing. Squawk on the Street Disclaimer

Transcript

Click on a timestamp to play from that location

0:00.0	Market Moving Insight and Analysis joined Jim Kramer, David Faber, me, Carl Cantonea on the opening bell hour of CNBC Squawk on the Street.
0:08.8	Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Cantonio with Jim Kramer, David Fabry, post nine of the New York Stock Exchange. After three straight all-time highs for the S&P, the Bulls press on here with help from some strong results at Netflix, ASML, SAP,
0:22.2	overshadowing some light guidance at some old line industrials.
0:25.3	A roadmap begins with stock records on a roll.
0:27.8	Netflix does provide a big boost ahead of the open after delivering that subs beat.
0:32.5	Plus 18 T shares under a bitter pressure this morning.
0:34.9	Quarterly earnings results did miss some expectations,
0:37.7	free cash flow perhaps as well, but the company is seeing subscriber gains. And we continue to
0:42.7	monitor the ongoing fallout at Boeing, the FAA, saying it may further expand its probe. And the CEO
0:49.4	of Alaska Airlines saying he's, quote, angry. Let's begin with Netflix up sharply in the pre-market.
0:56.6	Company reports 13.1 million new subs in Q4.
0:59.6	That is the second best quarter of additions in its history.
1:03.5	Revenue also exceeding forecast.
1:05.3	Jim, a lot of price target raises on the street.
1:07.9	I counted 18, several with a six handle.
1:10.6	It was just really toward the fourth quarter. And as usual, a conference call that I found to be
1:16.5	just very special. He's a special company. It's a company. There's a lot of people going to talk
1:22.3	about how what really happened was they cut down on password sharing. I'm not buying that at all.
1:45.0	They obviously knew how to do that. They have what I call David, and I'm going to be really specific about this. They have, as opposed to almost everyone else, exactly what people want. Now, we can talk about TKL, we'll do that later. But the fact is, they said one line in here that really just was very teller. They said, we're not going to buy linear. You know what linear is?
1:46.0	Linear is cop shows.
1:48.0	Limiter is fire department shows and it's hospital shows.
1:52.0	And what they're saying is we're not interested in that crap.
	...

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.