meta_pixel
Tapesearch Logo
Log in
Squawk on the Street

Tesla After Musk Pay Package Approval, Adobe's AI Rally, Markets' Record Run 6/14/24

Squawk on the Street

CNBC

Business, Investing, News

4.1567 Ratings

🗓️ 14 June 2024

⏱️ 41 minutes

🧾️ Download transcript

Summary

Carl Quintanilla, Jim Cramer and David Faber engaged in a wide-ranging discussion about what's next for Tesla after the company's shareholders ratified Elon Musk's massive 2018 pay package. The anchors reacted to what Musk said at Tesla's annual meeting about the EV maker's valuation and robotics. Also in focus: Adobe surges after AI demand fuels the company's quarterly results and guidance, broader markets coming off record closing highs, what Cleveland Fed President Loretta Mester told CNBC about rates, Apple and Microsoft ramp up their valuation battle, GameStop/Roaring Kitty update. Squawk on the Street Disclaimer

Transcript

Click on a timestamp to play from that location

0:00.0

It's Jim Kramer here. You're listening to the opening bell of CBC squawk on the street. Don't miss a minute of the action.

0:07.7

Elon Musk celebrating yesterday at Tesla's annual meeting after shareholders did ratify his 2018 pay package. Good Friday morning. Welcome to Squawk in the street. I'm Carl Kintanilla with Jim Kramer, David Faber post night of the New York Stock Exchange.

0:19.5

Futures are soft. Are Europe's under some pressure.

0:21.6

The focus once again on France.

0:23.4

Equity's not able to enjoy more disinflation today in import prices.

0:27.2

Ten-year hugs for two lowest in almost three months.

0:30.3

Our roadmap begins with what's next for Tesla and Musk as his pay package and the Texas

0:35.3

incorporation resolutions were approved by shareholders.

0:38.6

Well, yesterday it was Broadcom. Today, it's Adobe riding that AI rally.

0:42.9

Those shares are surging on quarterly results and guidance that was raised.

0:47.4

And, of course, we'll stick with tech. Why not? Apple and Microsoft continue to battle it out

0:51.6

for the title of the most valuable company in the United States.

0:57.0

Let's begin with Musk's pay package being approved by Tesla shareholders. Jim, it was not close.

1:02.0

Some 77 percent. He's got Vanguard to thank it looks like.

1:05.0

Yeah, I also think that there was a belief that there would be an existential crisis without Musk, that Musk certainly could take his bat and ball, go home.

1:14.4

The energized Musk is very exciting for me, because maybe he has something up his sleeve.

1:21.1

He tends to have something up his sleeve.

1:22.7

I remember that Jensen Wong continuing to tell me, do not call it a vehicle company. This autonomous

1:28.7

machine. David, autonomous machine has many uses, vehicle minimal uses. Yes, autonomy has many uses,

1:38.6

and he believes will add to an enormous amount of market cap and shareholder value.

1:46.9

Obviously, we're talking about a pay package, which he has now, again, has been bestowed upon him as a result of creating enormous shareholder value over the last six years.

1:56.6

Not so much the last couple of years, as we pointed out many times.

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2026.