Target Slashes Targets, TweetDeck is X’d, & Covid Has a New Strain 8/16/23

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 16 August 2023

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

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Summary

Target slashed its sales and profit expectations in its latest quarterly report. CNBC’s Courtney Reagan and Forrester Research’s Sucharita Kodali explain the retailer’s troubles, from inflation-conscious shoppers to Pride month backlash. A new strain of Covid-19 is hitting the American South and West; former FDA Commissioner Dr. Scott Gottlieb explains the risks, the relevance of vaccinations and boosters for immunity, and this phase of endemic Covid. Plus, there are new court filings in the federal case against FTX founder Sam Bankman-Fried, a new deal could breathe life into Wheels Up stock, X Corp. has rebranded Tweetdeck, and Cava is hoping to satisfy Wall Street’s appetite. Sucharita Kodali - 15:47 Courtney Reagan - 12:14 Dr. Scott Gottlieb - 24:39 In this episode: Sucharita Kodali, @smulpuru Scott Gottlieb, MD, @ScottGottliebMD Courtney Reagan, @courtreagan Melissa Lee, @MelissaLeeCNBC Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C. NBC producer Katie Kramer today on Squack Pod.
0:08.0	Shoppers shopping less at Target.
0:12.0	The sales weakness at the retail giant,
0:13.8	C. NBC's Courtney Reagan reports.
0:15.9	It's just again seemingly caught in the middle of these culture wars
0:19.4	in a way that did seem to impact sales.
0:25.0	And a new COVID variant is here, but former FDA Commissioner Dr Scott Gottlieb says it could peter out by the fall.
0:30.0	We're probably going to see a new variant emerge
0:32.0	by the time we get into the late fall in the winter.
0:35.0	So this particular strain isn't that worrisome in terms of its pathogenicity relative to what we've seen before.
0:41.0	Plus, new tales in the SBF FTX soap opera, Wheels Up Stock might finally take off,
0:47.8	Kava satisfying investors, and a rebranded offering from Twitter.
0:52.6	Oh, we mean X.
0:53.8	What's a call when we send out something?
0:55.8	You X?
0:56.8	I think so.
0:57.8	Exit out. I don't know.
0:58.8	I heard you Zeat or X-Eat.
1:01.8	It is Wednesday, August 16th, 2023.
1:04.8	Squawk Pod begins right now.
1:07.0	Stand under by in three, two, one, Q Anders.
	...

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