Squawk on the Street Megacap Tech Turns Up, Major Cable Deal, Novo Nordisk CEO Steps Down 5/16/25
May 16, 2025
The stock market is buzzing with the S&P 500 aiming for its fifth consecutive gain, driven by megacap tech stocks like Nvidia and Tesla. Charter's major acquisition of Cox Communications is set to reshape the cable landscape. Meanwhile, Novo Nordisk faces challenges as its CEO steps down amid significant stock struggles. The podcast also touches on Walmart's earnings strategies in a challenging inflationary environment and discusses the competitive dynamics in the pharmaceutical sector, particularly around weight loss treatments.
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Tech Powers S&P Rally
- Mega-cap tech stocks led the S&P to its fifth straight day of gains this week.
- Nvidia and Tesla shares rose double digits since Monday, with XLK up 30% since early April.
Shift in US-China Policy
- The US is shifting from embargo policies toward China to building goodwill with nearby countries.
- This approach resembles Kissinger-era diplomacy and signals a contained economic decline.
Charter to Acquire Cox
- Charter Communications will acquire Cox to become one of the largest US cable companies.
- The deal values Cox at $34.5 billion including debt and adds 6 million subscribers.