Trump's Tariff Warning, Nvidia Beats, Salesforce's Revenue Miss 2/27/25

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 27 February 2025

⏱️ 48 minutes

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Summary

Carl Quintanilla, Jim Cramer and David Faber discussed the effect of tariff talk on markets. Thursday morning, President Trump posted on social media that his proposed tariffs on goods from Mexico and Canada will go into effect on March 4 -- and that China will be charged an additional 10% tariff on that same date. The AI trade also in the spotlight: Nvidia posted better-than-expected Q4 results, while Salesforce reported a Q4 revenue miss and issued weaker-than-expected guidance. Also in focus: "Fedspeak" on inflation by Kansas City Fed President Jeff Schmid, earnings movers including Snowflake, eBay, Warner Bros. Discovery and Paramount. Squawk on the Street Disclaimer

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0:00.0	Market moving insight and analysis. Join Jim Kramer, David Faber, and me, Carl Kintanilla, on the opening bell hour of CNBC Squawk on the Street. Good Thursday morning. Welcome to Squawk on the Street. I'm Carl Kintenea with Jim Kramer, David Faber, post-9 of the New York Stock Exchange. Futures are a little wobbly, as the president does say moments ago. The tariffs on Canada and Mexico will go into effect next week as scheduled.
0:21.9	Tons of economic data at Fed speak today, jobless claims at a three-month high.
0:26.6	Our roadmap begins with Invidia, though, the bounce despite this increased global AI competition.
0:32.1	Jensen Wong says he's more enthusiastic today than he was a month ago.
0:35.4	We'll dig into why.
0:36.5	Plus, Salesforce shares are under
0:37.8	pressure this morning. This follows a weaker than expected guidance from the quarter. CEO,
0:42.7	Mark Benningoff, also taking some shots at Microsoft in an interview with Jim last night.
0:48.0	And keep an eye on shares at Tesla looking to reverse a five-day slide. Those shares now down
0:53.2	more than 25 percent. That's just for this month.
0:57.0	Let's begin with NVIDIA's quarterly beat. AI chips fueling a 78% jump in revenue. Current quarter
1:02.9	sales guidance also above consensus. Jensen Wong calling demand for Blackwell, quote,
1:07.6	Amazing. Take a listen to what he told John Fort last night.
1:12.9	Feelings about Blackwell is quote, amazing. Take a listen to what he told John Ford last night. Feelings about Blackwell is better today than it was last quarter.
1:16.3	And the reason for that is because we, of course, ramped up into production.
1:20.1	We exceeded our target.
1:22.2	And the teams did an amazing job.
1:25.3	As you recall, we had a hiccup in our design flaw in Blackwell
1:29.7	that we found early on last quarter or quarter before that. And we recovered tremendously well,
1:36.4	and I'm very proud of the team for that. And so for those reasons, I feel pretty great from an
1:40.8	execution perspective. A lot of desk notes on it today. Jim Goldman says, quote, good enough.
1:46.7	Yeah, I mean, Ben Rice just was, we're going back and forth this morning, and you can just say,
	...

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