Stocks Erase Losses from Monday's Sell-off, Dow Components Join the Earnings Parade, Netflix's Subscriber Growth Slowdown, United Sees Profitablilty Ahead, J&J's COVID Vaccine Under Scrutiny, and Chipotle's Results Heat Up the Stock

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 21 July 2021

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Jim Cramer and David Faber took an in-depth look at a busy day for the markets with a slew of earnings reports in the mix -- as stocks recouped all of their losses from Monday's sell-off. Dow components Coca-Cola, Johnson & Johnson and Verizon all beating analyst expectations with their quarterly results, Netflix falling amid concerns about a slowdown in subscriber growth, and Chipotle shares up sharply on earnings, revenue and sales as indoor dining continues to rebound. The anchors reacted to what United Airlines CEO Scott Kirby told CNBC about the carrier's outlook: He's "confident" United will return to profitability in the third quarter. They also highlighted Capitol Hill's "bipartisan bailout" of the airlines during the pandemic, and the lessons to be learned as lawmakers negotiate a bipartisan infrastructure bill. Cramer sounds off about a new study that claims J&J's COVID vaccine is much less effective against the Delta and Lambda variants than against the original virus. Also in focus: Electric vehicle maker Lucid Motors and the Churchill Capital IV SPAC scramble for shareholder approval votes ahead of a key deadline, billionaire investor Leon Cooperman's bullish take on big tech and FAANG, AMC Entertainment CEO Adam Aron taking on the additional role of Chairman and what it could mean for the stock, what's ahead for GameStop in wake of Netflix's foray into video games, the stocks that are benefiting from investors pushing aside worries about the Delta Variant, and JPMorgan Chase awards Jamie Dimon a bonus aimed at keeping him as Chairman & CEO for several more years. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0	It's Jim Kramer here. You're listening to the opening bell of CNBC squawk on the street. Don't miss a minute of the action.
0:14.1	Good morning and welcome to Squawc on the Street. I'm David Faber with Jim Kramer. We are live from the New York Stock Exchange. Carl has the morning off. We get started with trading on what Jim and I like to call hump day. Let's take a look at futures.
0:25.6	30 minutes from now is when we begin. And you can see, well, I don't know. What do you? I don't tell me. Thank you.
0:33.9	Mixed. Thank you. That's the great insight we all count on. Our roadmap starts with an eye on corporate results.
0:39.8	Three down names crossing the tape Coca-Cola, Johnson & Johnson, and Verizon.
0:45.1	And we're going to dig into all those companies.
0:47.5	Plus Netflix, it subs fall short.
0:51.2	The stream, however, did forecast bigger subscriber games ahead and did confirm his
0:55.9	plans and give a little detail on getting into gaming. Gaming. Yeah. And COVID concerns, Jim,
1:01.5	the WHO's warning that the world is going into the early stages of another wave,
1:07.4	while a new study finds Jane J's vaccine may not perform as well as the others against the Delta variant.
1:16.1	Where do you want to start? Markets, earnings, both?
1:19.9	Well, David, I want to talk about the concept of better than expected.
1:23.0	Okay.
1:23.5	All right.
1:24.3	Some better than expectants are other than better than expectants.
1:29.6	Chipotle was amazing.
1:31.7	I mean, they basically are making money with Chapult lanes outside.
1:35.4	Anytime they have something outside, they're starting to have lunch inside.
1:39.1	So, Chipotle was just remarkable.
1:40.4	They could do $3 million per unit instead of $2.5 million.
1:43.9	Remember, it's company-owned.
	...

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