Tesla’s Big Rally and All Things Musk, Tapestry-Capri Merger Blocked, Apple Downgraded 10/25/24

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 25 October 2024

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Carl Quintanilla, Jim Cramer and David Faber discussed Tesla coming off its biggest one-day gain in more than a decade -- boosting CEO Elon Musk's position as the world's wealthiest person. What's next for the stock? The anchors also reacted to The Wall Street Journal reporting Musk has been in regular contact with Russian President Vladimir Putin since late 2022. Also in focus: Capri Holdings shares plummet after a federal judge blocks the company’s planned merger with Coach parent Tapestry, Apple hit with a rare Wall Street downgrade to "underweight," Alphabet's driverless car unit Waymo closes a $5.6 billion funding round, Cramer's take on investing in Intel. Squawk on the Street Disclaimer

Transcript

Click on a timestamp to play from that location

0:00.0	Market moving insight and analysis join Jim Kramer, David Faber, and me, Carl Kintania, on the opening bell hour of CNBC Squawk on the Street.
0:08.5	Good Friday morning. Welcome to Squawk on the street. I'm Carl Kintania. Jim Kramer is back. David Favor here at Post 9 of the New York Stock Exchange.
0:15.2	Futures are in the green as yields do stabilize a bit. Dollar index back below 104. We'll get set up for next week where he will get
0:22.6	Mag 7 earnings, a job number, GDP, jolts, and more. A robot, though, begins with Tesla coming
0:28.5	off one of the strongest one-day rallies in more than a decade and boosting Elon Musk's
0:33.3	position as the world's wealthiest person. On the M&A front, shows a Capri holdings they are plunging.
0:39.9	Tapestry, though, up double digits. A federal judge has blocked tapestry's purchase of Capri. It would
0:45.6	have put luxury brands such as Coach and Michael Coors under one roof. Also, a head in VINI is closing in
0:51.7	on Apple's title as the world's most valuable company.
0:54.7	The iPhone maker got a downgrade this morning.
0:58.2	S&P breaking a three-day loss yesterday, thanks in part to Tesla's massive rally.
1:03.1	The best day since 2013.
1:05.3	Didn't quite get back to the levels of October 1st, Jim.
1:08.5	And of course, today we have this barn burner of a five byline story in the journal.
1:13.2	Yeah, look, when I look, Tesla's leader, I mean, I was on a, you know, obviously on an oil
1:18.6	platform yesterday, but it's all anyone can talk about because this was about the self-driving
1:25.5	car and how far are they, vehicle, and how hard, how high they already have numbers that are incredible.
1:32.2	Now, David, you interviewed Musk.
1:34.4	He did this whole day of self-driving, and it didn't seem resonating.
1:39.2	Then he does a conference school, and it's like, okay, it's here,
1:42.1	it's going to be in California.
1:43.3	I know what, well, also,
	...

Please login to see the full transcript.

Previous episode | Next episode

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.