SOTS 2nd Hour: A Meta Disappointment, (Micro)Soft Results and Comcast Spins-off? 10/31/24
Squawk on the Street
CNBC
4.1 • 567 Ratings
🗓️ 31 October 2024
⏱️ 42 minutes
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| 0:00.0 | Good Thursday morning. Welcome to another hour of squawk on this treat. I'm Scott Wapner alongside Leslie Picker and Mike Santoli. We are live at Post 9 from the New York Stock Exchange today. Sarah and David are on assignment. Carl's off this morning. Take a look at markets, which are lower across the board. We do have those earnings from Microsoft and Meta, certainly weighing on the NASDAQ, which is down about 2%. That is the big weight there, but we're in the red all the way across the board, Les this morning as we react to, gosh, a ton of earnings. A ton of idiosyncratic news today, and we're just 30 minutes into the trading session. Here are some of those big movers. We are watching. watching more results out of big tech meta and Microsoft as scott mentioned under pressure |
| 0:38.4 | will break down the latest numbers and guidance in just a moment shares we are watching more results out of big tech meta and Microsoft as scott mentioned under pressure |
| 0:38.3 | will break down the latest numbers and guidance in just a moment shares of our parent company |
| 0:42.6 | comcast in the green on earnings and news it's considering spinning out the cable networks business |
| 0:47.5 | as a separate company but the stock is off its session highs currently up about three and a half percent |
| 0:53.1 | much more on this coming up and |
| 0:54.9 | uber in the red a top and bottom line beat there but gross bookings disappointing the street |
| 1:02.1 | all right mike last trading day of the month s n p on pace for its sixth straight positive |
| 1:06.3 | month would be the longest monthly win streak since august of plus NASDAQ hovering near all-time highs |
| 1:12.2 | on pace for gains in October as well. All told, the markets really haven't done all that much |
| 1:17.7 | this month. But coming in, there was, I think, a lot of fear that what you maybe got away with |
| 1:23.1 | in September, you were going to pay back in October. And it really hasn't happened. |
| 1:26.4 | It hasn't happened in a comprehensive way although both those things being tested |
| 1:29.1 | actually at the moment today's week open gets you negative month to date for the |
| 1:33.0 | S&P 500 by a hair the NASDAQ obviously is the locus of all the selling because of |
| 1:37.5 | probably somewhat a combination of elevated expectations for the likes of |
| 1:41.9 | meta and just not absolute blowout beat and raise |
| 1:46.1 | type quarters from the likes of Microsoft. |
| 1:48.2 | All that being said, we are just, I think we've been kind of digesting and correcting |
| 1:52.5 | below the surface. |
| 1:53.5 | Breath has been pretty lousy for a couple of weeks, but the index is hung in there. |
| 1:57.4 | Bonneal's are pressing the, you know, pressing the matter here a little bit. |
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