Good Tuesday morning. Welcome to Squawk in the Street. I'm Carl Kintanaia at Post 9 of the New York Stock Exchange.

Sarah Eisen today's at the NASDAQ. And Faber is at 13D monitors active passive investor summit in New York,

where he's going to bring us two big interviews this hour, Corvex management founder and CIO Keith Meister

and Impactive Capital Managing Partner Lauren Taylor Wolf. Also ahead in just a moment, Coca-Cola

Chairman and CEO James Quincy will join us in a first on C&BC interview as the company beats on

earnings and says it's confident it can hit its 2025 goals on an interesting day for markets there where stocks are

up a bit bonds are down vix is up but gold is down i'm watching what what companies are saying

i'm listening to what companies are saying about what they're dealing with right now since we

don't have the economic data and we don't have the Fed speak. It's really all about earnings right now.

And just what kind of issues in the macroeconomy companies are dealing with.

Unilever was one that actually cited the shutdown as a headache for business.

In fact, it had to delay its spin-off of its magnum ice cream and Ben and Jerry's ice cream because of the U.S. government shutdown.

Why? It's a paperwork problem that they couldn't get done with the SEC.

Remember, they're spinning off the ice cream business.

They wanted to trade in both Amsterdam and in New York.

And so that was the first instance I really saw where a company is impacted by the shutdown.

But as far as some of the other impacts that we're hearing from earnings season so far, GM tariffs better than expected, at least on the full year guidance.

They said that it was going to be $3.5 to $4. half billion now instead of a four to five billion dollar hit on tariffs. And here's what the CEO said in the call, just to give you a little flavor about what they're dealing with. So earnings, they said, included a gross tariff impact of $1.1 billion that was in the quarter, a little less than we expected due to lower import volumes from Korea. We were able to offset more than 30% of this amount through go-to-market footprint and cost initiatives.

The administration's recently announced expansion of the MSRP tariff offset broadens the scope of parts eligibility for the program

and will make U.S. vehicle production more competitive while we work to adjust our supply chains on heavy duty tariffs,

the impacts to GM will be minimal.

I just highlighted that one to show, Carl, that it's complicated,

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