Target CEO Brian Cornell & Goldman Sachs CEO David Solomon 02/28/23

Squawk Pod

CNBC

Investing, Business News, News, Business

4.2 • 543 Ratings

🗓️ 28 February 2023

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

Two important interviews: First, Target CEO Brian Cornell discusses his company’s fourth quarter results and what they indicate about consumers, the global supply chain, and the American economy. Then, Goldman Sachs CEO David Solomon speaks candidly ahead of his bank’s Investor Day, acknowledging business “stumbles” and weighing in on inflation, capital for fossil fuels and for the energy transition, and global CEO sentiment. Plus, Zoom shares are zooming after reporting strong fourth quarter results, Meta’s Mark Zuckerberg has announced a new internal unit focused on generative AI, and Marlboro maker Altria is making a new e-cigarette bet. In this episode: Becky Quick, @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music please.
0:04.0	This is Squawk Pod and I'm C and Vee producer Cameron Costa.
0:08.0	Today, two enormous interviews.
0:11.0	First, CEO of Target Brian Cornell, the morning of his company's fourth quarter results.
0:17.6	We've delivered $55 billion of revenue through discretionary categories in 2022.
0:22.8	But we have seen a consumer who's not spending the way they were during the pandemic.
0:26.2	The state of the consumer and what the retailer's financials say about inflation and our economy's health.
0:33.0	It's impacting transportation
0:36.0	and we're still far away from a more normalized environment.
0:39.0	And CEO of Goldman Sachs, David Solomon, meeting his shareholders at the bank's investors
0:45.2	day.
0:46.2	When I look across the spectrum of work we've done to grow the firm, to improve the way we serve
0:50.0	our clients, to strengthen our business, we've made a lot of progress.
0:53.0	Those big interviews plus Zoom's enterprise Zoom.
0:57.0	Meadows bet on AI and the maker of Marlboro is going digital.
1:02.0	Move over, Joel.
1:02.8	You ever smoke?
1:03.4	Like every day smoker?
1:04.2	Yeah.
1:05.0	Really?
1:05.2	Well, like when I was 23 or 20 something.
1:07.0	Stockbroker.
	...

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