Regeneron vs. Omicron; The Fed’s New Plan; The Boss’ Half-a-Billion

Squawk Pod

CNBC

Investing, Business, News, Business News

4.2 • 543 Ratings

🗓️ 16 December 2021

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

Regeneron Pharmaceuticals is developing new antibodies that work against the omicron variant of Covid-19, after the company confirmed that its current cocktail has diminished potency against the heavily mutated strain. CEO Leonard Schleifer says Regeneron plans to conduct trials on the new antibodies in the first quarter of 2022. The Federal Reserve’s move to accelerate its taper but not yet move the needle on interest rates has left market analysts in disagreement over whether it was the right call and how it could impact stocks. CNBC’s Steve Liesman breaks down how the markets are reacting to the Federal Reserve’s policy pivot on Wednesday. Plus, Bruce Springsteen has reportedly sold his music rights to Sony Music Entertainment in what could be the biggest deal ever struck for a single artist’s work. In this episode: Leonard Schleifer, @Regeneron Meg Tirrell, @megtirrell Steve Liesman, @steveliesman Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Klaire Odumody, @klairemarie

Transcript

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0:00.0	Bring in show music please.
0:04.0	This is Squag Pod. I'm C. NBC producer Claire Odumody.
0:08.0	Today on our podcast,
0:10.0	new antibodies that work against the omicron variant of COVID-19 that's news from Regeneron, the company CEO Len Schliefer.
0:19.0	I really could see a world where we may have more than one variant circulating and we're going to need to pick and choose
0:25.8	our weapons depending upon which one that you have.
0:29.5	The Fed turns hawkish rate hikes and an aggressive wind down of
0:34.1	pandemic emergency measures on the way.
0:36.8	You know how your kids think that's a hot stove once and
0:39.4	that's all the lesson they need?
0:40.4	Yes, that's what it sounded like from J-PEL yesterday.
0:42.4	We've learned by experience. Red. We've learned by experience.
0:44.3	Reducing the balance sheet is J-Powell's hot stove.
0:47.8	But investors seem okay with that news.
0:50.1	I think the one way to look at the message of the markets was party on Garth. I think that was it.
0:56.5	Plus this is Boss. Bruce Springsteen's catalogue finding glory days with a new owner.
1:03.0	I wonder if it's just be hard to see like all of a sudden your songs popping up in ads of stuff you don't like or other things and losing control of it.
1:11.0	Taylor Swift knows.
1:12.0	Yeah, it knows that all too well.
1:14.1	It's Thursday, December 16, 2021.
1:16.9	Squawk Pot begins right now.
1:18.9	Stand back you by in three, two, one, fuel please. good morning everyone welcome to
	...

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