Tesla Rallies, Q4 GDP at 2.9%, Southwest CEO on Q4 Loss and Holiday Travel Turmoil. 1/26/23
Squawk on the Street
CNBC
4.1 • 567 Ratings
🗓️ 26 January 2023
⏱️ 43 minutes
🧾️ Download transcript
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| 0:00.0 | It's Jim Kramer here. You're listening to the opening bell of CBC's Squawk on the Street. Don't miss a minute of the action. Good Thursday morning. Welcome to Squawk on the Street. I'm Carl Kinteneer with Jim Kramer at Post 9 of the New York Stock Exchange. David Faber has the morning off. Future is kind of resilient here in the face of some hot eco-data, whether that's Q4 GDP, Durables, Best Print in nearly three years, or jobless claims. |
| 0:22.6 | Ten-year climbs to 352 on a very busy day for earnings as well. |
| 0:25.9 | Our roadmap's going to begin with Tesla. |
| 0:28.1 | Record quarter shares up more than 27% just this month. |
| 0:32.7 | Chevron with a $75 billion share buyback, boosting the dividend. |
| 0:36.8 | And Southwest Chief Bob Jordan is going to join us this hour |
| 0:39.3 | after the airline posted that $220 million loss |
| 0:43.0 | following the holiday service meltdown over there. |
| 0:47.4 | Let's begin, though, with the record results for Tesla |
| 0:49.5 | and Elon Musk is expressing some optimism about demand. |
| 0:53.1 | Here's what he said last night on the call. |
| 0:55.0 | Thus far in January, we've seen the strongest orders year to date than ever in our history. |
| 1:03.0 | We currently are seeing orders at almost twice the rate of production. |
| 1:09.0 | So, I mean, that's hard to say whether that will continue twice |
| 1:12.6 | air production, but the orders are high. |
| 1:14.6 | And we've actually raised the model at Y price a little bit in response to that. |
| 1:20.6 | So we don't, we think demand will be good despite |
| 1:26.6 | probably a contraction in the automotive market as a whole. |
| 1:32.6 | Share is going to open above 150, which was originally long ago a bear case in Morgan Stanley. |
| 1:38.6 | Now they say it's where investors will get interested again. |
| 1:41.2 | Well, I think that the marginal price cuts brought in a lot of buyers. |
| 1:45.0 | I think that fantastic year. |
... |
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