Squawk on the Street

2022 was a massive year for space, from a series of NASA milestones to the rise of mega-constellations. So why did publicly-traded space stocks crash this year, even as launch demand rises? Morgan sat down with United Launch Alliance CEO Tory Bruno to discuss the launch market, the company’s heavy-lift Vulcan rocket, and the outlook for the next year. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Morgan Brennan, Scott Wapner and Mike Santoli started the hour by breaking down the ongoing volatility around Tesla. Baird reiterated its “outperform” rating on the stock this morning, but lowered its price target to $252 from $316, the second price cut for Tesla in under a week. The anchors then shifted to the latest troubles for Southwest, as the stock continued to drop amid more flight cancellations. CEO Bob Jordan posted a video a last night, apologizing to his customers for the ongoing troubles saying he is “truly sorry.” Around the bells: they also mentioned AMC CEO Adam Aron asking his board of directors to freeze his salary in 2023 amid the company’s sliding stock price. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Morgan Brennan, Scott Wapner and Bob Pisani began the hour by breaking down the market action for the last trading week of 2022 as stocks tried to rally on news that China would drop quarantine requirements for international arrivals starting in January. Staying with travel, the anchors then shifted to discuss a chaotic weekend of holiday travel. Southwest Airlines canceled another 2,500 flights Tuesday and warned that mass disruptions will continue throughout the week, drawing scrutiny from the Transportation Department as other airlines recovered from severe winter weather. Also in the mix: Tesla shares continued to sink lower, and was on pace for its 7th straight day of losses. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

On the final trading day before Christmas, Carl Quintanilla and Jim Cramer discussed Elon Musk's promise to pause selling more shares of Tesla -- but that news didn't stop the stock from continuing its slump. How low can it go? On the crypto front: FTX founder Sam Bankman-Fried under house arrest after being released on $250 million bond, as he awaits trial on criminal charges related to the collapse of his crypto exchange. Also in focus: Market volatility, An inflation gauge closely watched by the Fed came in tamer than a year ago, Microsoft versus the FTC and Cramer highlights stocks worthy of your attention heading into 2023. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber reacted to Sam Bankman-Fried's return to U.S. soil after being extradited from the Bahamas. The founder of FTX set to be arraigned in federal court as he faces criminal fraud charges related to the collapse of his crypto exchange. The anchors also discussed comments from billionaire investor David Tepper after he told CNBC he is "leaning short" on equities. Also in focus: Micron dragging semiconductor stocks lower after quarterly results missed expectations and the company announced job cut plans, Q3 GDP revised higher, the NFL and YouTube strike a "Sunday Ticket" deal, Carmax tumbles, AMC plunges after announcing a capital raise, plus Tesla's stock slump: A buying opportunity? Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber discussed the big stories fueling Wednesday's market rally: Nike shares surging on better-than-expected quarterly results and raised guidance, while FedEx also gets a lift on an earnings beat and its vow to continue aggressive cost-cutting measures. The anchors also reacted to Tesla shares hitting fresh 52-week lows and Elon Musk's tweet highlighting what he believes is to blame for the stock's slump, plus his promise to resign as Twitter CEO once he finds a successor. Also in focus: Published reports say Google's YouTube is in advanced talks for exclusive rights to the NFL Sunday Ticket subscription-only package. What could this mean for shares of Alphabet and streaming stocks? Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Jim Cramer and David Faber engaged in wide-ranging discussions about Wells Fargo's multi-billion dollar settlement with the Consumer Financial Protection Bureau. The CFPB said it has ordered the bank to pay a penalty for "widespread mismanagement of auto loans, mortgages and deposit accounts." David with new reporting on the Twitter saga: Sources telling him Elon Musk is actively searching for a CEO to run the company. Also in focus: Big tech weakness, the Bank of Japan's action that surprised the global markets, plus what to expect from FedEx and Nike results after the close -- and what they might say about the consumer. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In a big week for defense deal-making, private-equity firm Advent International is acquiring satellite operator Maxar Technologies in a deal valued at $6.4 billion at a nearly 129% premium. Morgan sits down with Advent International Chairman & Managing Partner David Musaffer to discuss the acquisition, the satellite market and the private markets’ role in M&A. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Jim Cramer and David Faber led off the program with Elon Musk's Twitter poll: The majority of the platform's users said Musk should step down as head of Twitter. The anchors explored what it all means for shares of Tesla, which have tumbled since Musk closed the Twitter deal in late October. Also on the tech front -- the EU has charged Meta with antitrust violations. Costco CEO Craig Jelinek joined the show exclusively and offered some eye-opening perspectives on inflation, the consumer and the holiday shopping season. Also in focus: The Senate Banking Committee Chair mulls the idea of a crypto ban, Disney shares slump as the "Avatar" sequel’s box office debut comes in shy of expectations, plus Cramer's skepticism regarding L3Harris' $4.7 billion deal to acquire Aerojet Rocketdyne. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Jim Cramer and David Faber delved into another day of selling on Wall Street amid rate hike and recession worries. Jim highlights the stocks he says "would do just fine" in a slowing economic environment. The anchors also discussed bright spots in the tech sector -- Adobe shares up sharply after posting a quarterly earnings beat and Meta higher on an upgrade from J.P. Morgan. Jim and David reacted to Twitter's decision to suspend accounts of several journalists, Elon Musk's tweets about that move, plus the "Musk effect" on slumping Tesla shares. Also in focus: A stock that doubled on news of a buyout. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.