SOTS 2nd Hour: Netflix Earnings, A CVS C-Suite Shake-up & Bullish Signs For Apple In China 10/18/24
Squawk on the Street
CNBC
4.1 • 567 Ratings
🗓️ 18 October 2024
⏱️ 43 minutes
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| 0:00.0 | Good Friday morning and welcome to another hour of squawk on the street. |
| 0:10.7 | I'm Sarah Eisen with Carl Kintania. |
| 0:12.4 | We are live for you, as always, from post nine of the New York Stock Exchange. |
| 0:16.0 | David's on assignment. |
| 0:17.2 | Take a look at stocks. |
| 0:18.2 | We've got the S&P up two-tenths of 1%. |
| 0:20.3 | Communication services, best-performing |
| 0:22.6 | Netflix is surging. It's up 9.7%, but also the media names, Paramounts up, meta, alphabet, match, News Corp. |
| 0:30.6 | You've got the S&P now tracking for a six week in a row of gains up more than 6 tenths of a percent now. |
| 0:36.6 | A week to date, NASDAQ up almost a full |
| 0:38.6 | percent, and it is leading right now. The Dow is a little bit weaker. Energy financials, |
| 0:42.8 | consumer staples, and industrials are your weaker sectors right now weighing on the Dow. We're 30 |
| 0:48.9 | minutes here into the trading session. Here are some movers we're watching. C-suite changes at |
| 0:53.4 | CVS Health this morning. The company naming |
| 0:56.0 | longtime executive David Joyner as its new CEO effective immediately, issuing disappointing earnings |
| 1:01.2 | guidance as well. More on CVS and what's going on there ahead on the show. Procter & Gamble shares are lower. |
| 1:06.8 | Earnings beat estimates, but weaker demand in China hurt overall sales. And then American Express is falling after mixed results. |
| 1:12.6 | We're stock right now in the Dow. |
| 1:14.6 | Revenue coming in just shy of estimates, but total card member spending did increase 6% in the quarter. |
| 1:19.6 | The company also raised guidance. |
| 1:21.6 | And then keeping an eye on Apple too, some fresh headlines here on China iPhone sales. |
| 1:26.6 | We're going to break down for you later this hour, But Apple is up a little more than one and a half percent. It's really Apple, NASDA, Netflix, and Nvidia, as well as a little bit of meta, powering the NASDAQ right now. We got some China news overnight. Just wanted to hit Carl, because we've been so obsessed with China lately. Is it or is it not recovering? Will it or will it not hit the 5% growth target? |
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