Tesla Up, Netflix Down, Hedge Funds Flipping 4/21/22

Squawk Pod

CNBC

Investing, Business News, News, Business

4.2 • 543 Ratings

🗓️ 21 April 2022

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Famed shortseller Bill Ackman and his firm Pershing Square dumped its stake in Netflix yesterday following the streaming service company’s disappointing quarterly report. Netflix lost 200,000 subscribers in its latest quarter and expects to lose an additional 2 million subscribers in its next quarter, prompting the stock’s worst trading day in over 17 years. CNBC’s Phil LeBeau breaks down the key takeaways from Tesla’s first-quarter earnings results, which beat Wall Street’s estimates. Florida state lawmakers are working to pass a bill that would eliminate Disney’s special self-governing status in the state. CNBC’s Robert Frank reports on how this could impact Florida residents, and Florida State Rep. Randy Fine, who filed the House legislation, discusses whether it was spurred by the company’s response to Florida’s ‘Don’t Say Gay’ bill. Plus, Melvin Capital is attempting a rebrand, Carl Icahn calls out Wall Street ‘hypocrisy’ over ESG investing in a letter to McDonald’s shareholders. In this episode: Robert Frank, @robtfrank Phil LeBeau, @Lebeaucarnews Andrew Ross Sorkin, @andrewrsorkin Joe Kernen, @JoeSquawk Melissa Lee, @MelissaLeeCNBC Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music please.
0:04.0	Hi there, I'm C. M. C. producer Cameron Costa.
0:07.0	Today on Squack-Pod,
0:09.0	a tough hump day for Netflix.
0:12.0	Its worst trading day in 17 years and big investors are
0:16.8	taking notice. I can't imagine letting Netflix go. Hope Springs Eternal, they're
0:21.6	going to come up with something and I'm going to have something
0:23.7	to watch 12 episodes up.
0:26.5	Politicians down in the Sunshine State are putting pressure on Disney, but it could be Floridians who take the
0:31.8	heat. C and B. C's Robert Frank.
0:34.2	The big worry is the debt.
0:35.8	The special district has between 1 to 1.7 billion dollars in bond debt.
0:41.2	If this district is eliminated, that debt is transferred to local
0:45.1	governments that could total more than 1,000 dollars per county taxpayer.
0:50.5	And one of those politicians, Florida State Representative Randy Fine,
0:54.8	insists that the tensions are bigger than any one company.
0:59.2	What's changed is by trying to bring California values to Florida. Floridians have said, all right. is
1:05.0	a a Florida, Floridians have said, all right, you're a guest in our state.
1:06.0	Maybe you don't deserve those special privileges anymore.
1:09.0	Those stories plus a hedge fund round up.
1:12.0	The hedge fund caught up in the Game Stop drama
1:14.8	is making a new bet.
	...

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