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Squawk on the Street

Squawk on the Street: Opening Bell 08/09/2019

Squawk on the Street

CNBC

Business, Investing, News

4.1567 Ratings

🗓️ 9 August 2019

⏱️ 51 minutes

🧾️ Download transcript

Summary

The opening hour of CNBC’s "Squawk on the Street" with Carl Quintanilla, Jim Cramer and David Faber is broadcast each weekday from the floor of the New York Stock Exchange, on site at the opening bell with the up-to-the-minute news investors need to know and interviews with the most influential CEOs and greatest market minds

Transcript

Click on a timestamp to play from that location

0:00.0

Market Insight and Analysis. You're listening to the opening bell of CNBC, Squawk on the Street.

0:20.3

And welcome to Squawk on the Street. We do have a big morning for you. Of course, moments away, the CEO of Uber, Derek Kozhar Shahi, will join us exclusively this after the company posts what is a record loss and slowing revenue growth. But there's a lot more to deal with here.

0:36.4

Somewhat difficult quarter to get through from an investor perspective, which is why we're very happy to have him go through all of those numbers. Good morning. Welcome to Squawk on the street. I'm David Faber. Jim Kramer is here as well. Of course, we're alive from the New York Stock Exchange. Carl Kintanilla has the morning off. Let's give you a look at futures. Final trading day of the week, as you see, and what a week it's been when you talk about these markets.

0:56.5

You can see we are looking forward. Let's give you a look at futures. Final trading day of the week, as you see, and what a week it's been.

0:54.8

When you talk about these markets, you can see we are looking for a lower open, not dramatically lower, but lower.

1:01.6

The 10-year note yield, talk about a ride. Let's take a look at the 10-year note yield because I actually want to see where we are.

1:08.3

Yeah, we're below 1-7 again. Of course, we've been almost below 1-6 just during the course of this week.

1:16.2

Well, let's start with a stock as opposed to the market. You want to do that or you want to talk markets?

1:20.1

I really want to, no, I want to talk about a stock. You do? You chastised me for hyperbole.

1:28.1

But the millennials think that Uber is the most important stock in the market.

1:33.4

Done a huge amount of work just on that.

1:35.0

Well, there it is.

1:35.8

Because they'll pay up for Uber.

1:37.1

The shares are down in the pre-market, Jim.

1:39.1

This after, of course, reporting what is the largest ever loss.

1:42.2

The number of $5.2 billion, slowest ever revenue growth as well, the ride handling company

1:47.6

and current expenses, though, related to its IPO earlier this year.

1:51.8

Well, really, not even that long ago.

1:53.5

As we said, Derek Khashahi, the company's CEO, going to join us momentarily.

1:58.4

We're not used to a quarter as difficult as it.

2:03.1

It's a hard one, right? I mean, you've got to, first of all, the $3.9 billion compensation

2:07.2

expense related to the IPO. That is not going to recur.

...

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