Target CEO & Holiday Shoppers; Mario Gabelli & NFTs for Christmas

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 17 November 2021

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Retail earnings continued today with Target reporting better-than-expected Q3 results. Like Walmart however, Target investors are worried about margins as the company absorbs higher costs of supply chain disruptions and labor shortages, rather than passing them on to consumers. Target CEO Brian Cornell addresses those concerns and details how the company has navigated global supply chain bottlenecks ahead of the holiday shopping season. Investing legend Mario Gabelli, chairman and CEO of GAMCO Investors, discusses markets, mergers, and NFTs for Christmas. Activision Blizzard shares are falling after a report from The Wall Street Journal alleged that CEO Bobby Kotick knew about sexual misconduct accusations at his company before he’d previously let on. Plus, the FDA plans to authorize Pfizer’s Covid-19 booster shot for all adults as soon as Thursday; CNBC’s Meg Tirrell reports on the latest pandemic headlines. In this episode: Brian Cornell, @Target Mario Gabelli, @MarioGabelli Meg Tirrell, @megtirrell Andrew Ross Sorkin, @andrewrsorkin Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music please.
0:03.0	This is Squawk Pod.
0:06.0	I'm C. N. B. C. C. C. C. C. C. C.
0:07.0	C. C. C. C. C. C.
0:08.0	C. C. C.
0:11.0	Retailers are prepping for the holidays. but what kind of shopper can they expect?
0:15.5	Target CEO Brian Cornell with some good tidings.
0:19.0	It's a consumer that is feeling confident right now.
0:21.8	They're shopping in stores, they're also
0:23.2	shopping online, they're spending across multiple categories, and we expect
0:26.6	that to continue into the holiday season. And while we're on that topic, some shopping
0:31.8	tips from one of the most respected investors
0:34.8	on Wall Street. You heard that right. Gamco's Mario Gebelli. For Christmas and
0:40.1	for Thanksgiving, instead of buying an NFT,
0:42.9	you can get them a baseball team
0:44.9	by buying Atlanta Braves.
0:47.4	Those stories, plus the race for EV dominance
0:50.3	and boosters are ready for the rest of us.
0:53.0	Pfizer has come back with a very large study of 10,000 people, a lot more data,
0:57.0	plus there's data from Israel supporting this.
0:59.0	It's Wednesday, November 17th.
1:02.0	Is this 1996 or 1999?
	...

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