Spotify Announces Layoffs, Playing the China Tech Rally & Big Banks Plan New Payment Wallet 1/23/23

TechCheck

CNBC

Disruptors, Tech, Technology, Cnbc, Management, Business, Faang, Investing

4.5 • 66 Ratings

🗓️ 23 January 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Our anchors begin today’s show with CNBC’s Frank Holland and Deutsche Bank analyst Brad Zelnick covering activist investor Elliott Management reportedly taking a multibillion-dollar stake in Salesforce. Then, our Julia Boorstin breaks down newly announced layoffs from Spotify, and Credit Suisse Head of U.S. Equity Strategy and Quantitative Research Jonathan Golub offers his predictions for tech EPS growth in Q4. Next, we take a deep dive into opportunities in China tech with CNBC’s Seema Mody and MSA Capital Managing Partner Ben Harburg, and CNBC’s Phil LeBeau looks at new auto prices to start 2023. Later, CNBC’s Kate Rooney and Wolfe Research analyst Darrin Peller discuss big banks planning a new payment wallet.

Transcript

Click on a timestamp to play from that location

0:00.0	I'm Carl Quintanilla. You're listening to see NBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern listen in.
0:06.8	Good Monday morning. Welcome to Tech Check. I'm Carl Quintanilla with John Fortin-Djur-Dobosa. Today Elliot takes that stake in sales force, details behind the activist
0:15.0	investors new target.
0:17.1	Then Spotify shuffling its labor force, 6% of employees cut as tech layoffs continue to worsen. Later on way fair two double
0:25.4	upgrades today from sell to buy why the street has turned so bullish on the
0:30.2	stock overnight deep. Welcome everyone let's get a check on the markets overnight, D. Welcome, everyone.
0:32.8	Let's get a check on the markets.
0:34.2	As we kick off the trading week,
0:35.9	we are in rally mode stocks.
0:38.0	They are near session highs.
0:39.5	You can see the NASDAQ composite,
0:41.2	leading the way outperformer, despite a rise in yields, tech
0:44.2	communication services and discretionary, your leaders today.
0:47.3	Materials, you're laggards, John.
0:49.5	Yeah, and we begin with some activist action on this Monday morning.
0:53.9	According to reports, Elliot Management
0:55.8	has made a multi-billion dollar investment in Salesforce.
0:59.2	David Faber, reporting Jeff Ubbins' inclusive capital
1:02.2	is taking a stake as well.
1:03.6	This comes as the stock has continued to underperform.
1:06.0	The company announced a series of layoffs.
1:08.4	And now our Frank Holland is here with some details.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.