Tesla's “Supercharged” Rally, Musk on Finding a New Twitter CEO, Airbnb Surges 2/15/23

Squawk on the Street

CNBC

Business, Investing, News

4.1 • 567 Ratings

🗓️ 15 February 2023

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla, David Faber and Mike Santoli led off the show with Tesla extending its 2023 rally -- the stock up more than 70% year-to-date. They reacted to news involving Elon Musk: The White House said he agreed to open thousands of Tesla charging stations to rival electric vehicles by the end of 2024 -- and Musk said that he hopes to hire someone to succeed him as Twitter CEO by the end of 2023. Former Fed Vice Chair Alan Blinder joined the program to discuss President Biden choosing Fed Vice Chair Lael Brainard to head his National Economic Council -- and how her departure from the Fed could affect the central's bank's monetary policy aimed at battling inflation. Also in focus: Earnings winners and losers including Airbnb, whose shares surged on upbeat guidance, cost cuts and the company's first-ever annual profit.

Transcript

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0:00.0	Market Moving Insight and Analysis joined Jim Kramer, David Faber, and me, Carl Kintania, on the opening bell hour of CNBC Squawk on the Street.
0:08.8	Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Kintania with David Faber, Mike Santoli at the New York Stock Exchange.
0:14.5	Kramer has the morning off. Market was bracing for a strong retail sales print, but 26X Auto and gas is nearly three times the estimate, strongest
0:22.4	in nearly two years. Speaking of the two-year, two-year yield hits 466. That's the highest since November.
0:28.4	Our roadmap's going to begin with Tesla, though. Strong start to 23, shares up 74% and rising again
0:34.0	ahead of the open. Plus, we do have M have meta's warning. It's not an earnings warning.
0:38.8	It's company executives warning that despite that rise in the stock price, well, the company's not
0:43.6	quite out of the woods. And call it the Airbnb boom posting his first annual profit, CEO
0:49.2	Brian Chesky saying no matter what happens in the world, people want to travel.
0:53.9	We're actually going to begin with a Tesla rally today.
0:56.0	Stock as we set up more than 70% so far this year.
0:59.0	A number of news points on the stock today.
1:02.0	Gonna shut some China production to make some upgrades for the Model 3.
1:07.0	But the bigger news is opening up its charging network to qualify for some federal dollars.
1:12.6	Yeah, so probably, you know, a net positive, not necessarily core to the immediate stock case,
1:18.6	but a net positive not to be kind of at odds with the government, basically install itself at the center of the EB infrastructure more than it already is. You know, yesterday,
1:30.3	the reason the NASDAQ was positive was Tesla and Nvidia. Those are two stocks that have
1:35.2	kind of moved together over the past several years. They have very similar valuations again.
1:40.7	And now you can't even really attribute the Tesla move to well
1:45.8	shutting his Shanghai factory kind of swings in pricing it doesn't look like
1:50.7	earnings estimates are are kind of being rescued they're going down for this
1:54.0	year next but we're bracken the excitement mode about not just the general push to
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