What Q4 Bank Earnings Mean for Tech, Retail Investors Return to Meme Stocks & Apple CEO Tim Cook Takes 40% Pay Cut 1/13/23

TechCheck

CNBC

Disruptors, Tech, Technology, Cnbc, Management, Business, Faang, Investing

4.5 • 66 Ratings

🗓️ 13 January 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Our anchors begin today’s show with CNBC’s Bob Pisani breaking down the first wave of Q4 bank earnings, and CNBC’s Steve Liesman delivers new data on Federal Reserve remittances. Then, New York Magazine Editor-At-Large and “Pivot” podcast host Kara Swisher joins with her thoughts on a trio of CEOs: Disney’s Bob Iger, Microsoft’s Satya Nadella, and Tesla’s Elon Musk. Next, former Uber Chief Business Officer Emil Michael discusses stock-based compensation across gig economy companies, and CNBC’s Robert Frank covers the IRS delaying its tax-reporting rule for payment apps. CNBC’s Kate Rooney also reports on retail investors piling back into meme stocks, and Morgan Stanley Managing Director Brian Nowak also discusses whether AI chatbot ChatGPT will have a long-term impact on Alphabet’s margins. Later, VMware CEO Raghu Raghuram joins after the company was named to JUST Capital and CNBC’s annual “Just 100” list, and CNBC’s Steve Kovach covers Apple CEO Tim Cook taking a 40% pay cut.

Transcript

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0:00.0	I'm Julia Borstin and you're listening to see NBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern listen in.
0:07.7	Happy Friday. Welcome to Tech Check. I'm John Fort with you, Jibosa.
0:11.3	Ahead this hour, Banks, baffle the market, a messy mixed
0:16.1	main street rollout takes its toll on Wall Street, lending and loans in focus as earning
0:21.8	season kicks off.
0:23.2	We're gonna break down those results
0:24.5	and the impact on FinTech today.
0:27.4	Plus, we are also talking Tesla, cutting its car prices, getting the rare sell call at Guggenheim this morning,
0:35.6	why the street is turning bearish on a Tesla turnaround.
0:38.8	And it's not just Eli under pressure this morning, more details on Peltts's proxy fight at Disney and a
0:44.7	challenge to Microsoft's bid for Activision from NVIDIA all coming up in the next
0:50.0	60 minutes. A very busy 60 minutes and happy Friday John. It is a mixed day so far for
0:55.3	stocks with the major averages way off lows and fighting to get into the green.
0:58.8	A positive consumer sentiment number outweighing some very messy bank results,
1:02.4	health care
1:03.0	staples those are your leaders utilities and financials the laggards on move
1:07.6	right now transports and defense for GM delta the worst performers on the
1:11.1	S&P Tesla and Rivian the laggards on the NASDAQ.
1:14.4	The banks, they are attempting to claw back from a big early morning decline.
1:18.5	You've got Wells Fargo, Bank of America, J.P. Morgan and City.
1:22.0	In the red, but they are off the lows and actually see
1:24.2	JPMorgan Chase and Citigroup just popping their heads into that positive
	...

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