Squawk on the Street
SOTS 2nd Hour: Tesla Loses Energy; Live: ARM CEO, and Hilton CEO Talks Growth Ahead
Feb 6, 2025
Rene Haas, CEO of Arm, explores the booming AI adoption and its impact on the semiconductor industry, while Chris Nassetta, CEO of Hilton, shares insights on the hospitality sector's remarkable recovery and growth strategies. They delve into how Arm is adapting to evolving tech needs and discuss Hilton’s robust performance amid rising travel demand. The conversation also touches on market challenges facing Tesla and Ford, offering a comprehensive look at the intersection of technology and hospitality in today's economic landscape.
40:05
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Quick takeaways
- Tesla's disappointing European deliveries and Ford's projected losses highlight challenges in the electric vehicle market amid rising competition.
- The CEO of Arm noted a significant acceleration in AI adoption, driving demand for robust computing infrastructure, particularly in data centers.
Deep dives
Market Overview and Stock Movements
In the market update, the S&P 500, Dow Jones, and NASDAQ all showed slight gains, indicating a positive trading day. Ford faced pressure as it projected significant losses for its electric vehicle division, while Tesla's European deliveries fell short of expectations. Apple supplier Skyworks saw its stock plunge nearly 26% after issuing a bleak mobile segment forecast and announcing the departure of its CEO. Retail stocks like Ralph Lauren reported a surge following strong earnings, showcasing positive momentum in that sector.
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