SOTS 2nd Hour: Musk’s Vision For Tesla, DC Deal Or No Deal, and Time To Break-up Google? 5/21/25

Squawk on the Street

CNBC

Investing, Business, News

4.1 • 567 Ratings

🗓️ 21 May 2025

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Tesla a focus today after David’s wide-ranging and rare interview with CEO Elon Musk: Carl Quintanilla, Morgan Brennan, and David Faber broke down key takeaways from the tape – from Robotaxis to Chinese competition – along with Musk’s vision for the future. Plus: the Co-CEO of Waymo’s reaction to Musk’s claims Tesla’s tech is safer… and more with one analyst who’s arguing Waymo should be spun-off - along with Alphabet’s other ancillary businesses - to unlock more shareholder value here. On the broader markets front: a few key movers – Target, Coreweave, United Health, and more… The team discussed what’s driving the moves – in addition to fresh consumer color from executives at Toll Brothers, and the latest out of Washington when it comes to President Trump’s “Big Beautiful Bill”. Squawk on the Street Disclaimer

Transcript

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0:00.0	Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Kenton Awe with David Faber here at Post 9 of the New York Stock Exchange, along with Morgan Brennan, who joins us today from CNBC's CEO Council Summit. Sarah Eisen has the morning off.
0:17.1	Meantime markets in a bit of a sell-off mode Dow's down 300 only one sector's
0:21.2	green this morning that's communication services and breadth fairly negative
0:24.7	about 4 to 1 today Elon Musk teasing a future dominated by self-driving cars
0:29.9	and Tesla robo taxis in this wide-ranging interview with David right here on
0:34.0	CBC we'll get the headlines what it means for investors later this hour
0:37.4	plus Google wrapping up its developers conference today kind of a muted reaction from the David, right here on CBC. We'll get the headlines of what it means for investors later this hour.
0:41.9	Plus, Google wrapping up its developers conference today, kind of a muted reaction from the street.
0:45.5	The only Mag 7 name in the red over the last year.
0:52.6	We'll talk to one analyst who says shares can rebound in a big way, but only if the company makes a radical and surprising move.
0:56.9	Well, we're 30 minutes into the trading session.
1:00.0	Here are three big movers that we are watching this morning.
1:03.1	We've got fresh results from a number of retailers this morning,
1:09.1	including Target, Canada Goose, VF Corps, TJX. We're going to talk more about what's driving to clients for Target specifically in just a moment.
1:13.4	Those shares are down about 6.5%.
1:15.1	Meantime, Palo Alto Networks at the bottom of the S&P 500 this morning.
1:19.2	Gross margins missed, though earnings and revenue did top estimates, also down about 7%.
1:24.1	United Health under serious pressure again today.
1:26.6	The Guardian reporting that the company
1:28.2	secretly paid nursing homes to reduce hospital transfers for ailing residents, saving millions
1:33.9	in care expenses. The company saying in a statement, quote, the DOJ investigated these
1:38.9	allegations, interviewed witnesses, and obtained thousands of documents that demonstrated significant
	...

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