Squawk on the Street

Carl Quintanilla, Jim Cramer and David Faber explored the markets trying to shrug off signs of a potential recession, including mortgage demand hitting a 22-year low. What should investors do now? The anchors also discussed Ukrainian President Zelenskyy addressing the Yale CEO Summit in New York City with his message to business leaders. Also in focus: Novavax and Moderna rise on COVID-19 vaccine news, Target receives a slew of Wall Street price target cuts after Tuesday’s profit warning, stocks Cramer calls buying opportunities, and the NFL's Denver Broncos agree to be sold to a group led by Walmart heir Rob Walton for $4.65 billion. 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 led off the show with shares of Target down sharply on a margin warning, as the company plans to reduce excess inventory. The stock dragged both the retail sector and broader markets lower. Cramer weighed in on Target CEO Brian Cornell's leadership and delivered a message for analysts who cover the stock. Shares of Kohl's up double-digits after confirming it is in talks to be acquired by The Vitamin Shoppe parent Franchise Group. Also in focus: The gasoline price surge, why one firm says ExxonMobil shares are cheap, assessing Apple's developers conference unveils, Netflix losing two-thirds of its value this year, and Texas vs. Twitter. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

With the war in Ukraine crossing one-hundred days, commercial satellite imagery is getting an increasing amount of attention as companies like Maxar and Planet Labs capture and release pictures of Russia’s invasion in near-real time. Morgan and Hawkeye 360 CEO John Serafini discuss the innovations being made in the satellite sector, the impact of the Russia-Ukraine war and more. 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 a wide-ranging discussion about the story of the morning: Elon Musk has threatened to walk away from his $44 billion deal to buy Twitter, citing the company's failure to provide spam/fake account information. What's at stake for both Twitter and Tesla? Also in focus: Apple's Worldwide Developers Conference, Chinese stocks rally, Lilly's diabetes drug and obesity, JetBlue sweetens its takeover bid for Spirit Airlines, Thoma Bravo lowers Anaplan deal price, Amazon's 20-for-1 stock split takes effect, CBOE opens its new outcry trading floor, and Jim's week in San Francisco featuring a big lineup of CEO interviews on CNBC. 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 discussed market reaction to the better-than-expected May Jobs Report, which showed non-farm payrolls up 390,000. Cramer explained why he thinks people are more worried than they should be and are underestimating Fed Chair Jerome Powell. The anchors also reacted to a report which says Elon Musk wants to cut 10% of jobs at Tesla and that he has a "super bad feeling" about the economy. Also in focus: Bristol Myers Squibb strikes a $4.1 billion deal to acquire a biotech firm whose shares more than doubled on news of the transaction, why Jim says Apple is the "weak link" in FAANG, and Twitter says the antitrust waiting period for Musk's takeover bid has expired. 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 the big story of the morning: Microsoft cuts Q4 guidance, citing "unfavorable foreign exchange rate movement." They also discussed Sheryl Sandberg's decision to step down as COO of Facebook parent Meta -- and why Jim thinks a drop in the stock on that news represents a buying opportunity. Also in focus: JPMorgan Chase CEO Jamie Dimon warns an economic "hurricane" is coming -- but Bank of America CEO Brian Moynihan dismisses Dimon's pessimism, David reports Tiger Global's fund declined more than 14% in May, Ford's $3.7 billion expansion plans, and market reaction to GameStop's quarterly results. 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 first trading day of June, Carl Quintanilla, Jim Cramer and David Faber explored what's next for the markets after both the Dow and the S&P 500 eked out fractional gains for May despite volatility. The anchors also reacted to what Treasury Secretary Janet Yellen told CNBC about inflation and the surge in oil prices. Shares of Salesforce surged on better-than-expected quarterly results and raised profit guidance. Elon Musk's take on "work from home" also a big topic of discussion: He is said to have told Tesla staff in a leaked memo that they must be in the office for a minimum of 40 hours per week "or depart Tesla." Also in focus: SPAC terminations, plus Apple reportedly moving some of its iPad production to Vietnam from China. 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 what's ahead for markets as the Dow and S&P 500 enter the last trading day of May in positive territory for the month. The anchors reacted to President Biden's op-ed in The Wall Street Journal outlining his plan to battle inflation. Cramer says Biden is "still attacking our oil companies." The price of crude surges after the EU agrees to ban most Russian oil imports. Chinese stocks such as Alibaba rally as Shanghai prepares to lift its two-month COVID lockdown. Shares of Unilever jump after the company named activist investor Nelson Peltz to its board. Also in focus: Sen. Elizabeth Warren vs. SPACs, plus a box office bonanza for “Top Gun: Maverick.” 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, David Faber and Leslie Picker explored this week's market gains: The Dow on track to end an eight-week losing streak, with the S&P and Nasdaq each poised to end seven straight weeks of losses. Sentiment on Friday helped by stronger-than-expected consumer spending data and a key indicator which shows inflation might have peaked. The anchors reacted to a new batch of retail earnings: Shares of Gap and Big Lots tumbled, while Costco and Ulta Beauty moved higher. Citi U.S. Equity Strategist Scott Chronert joined the program to discuss market volatility and his views about a potential recession. Also in focus: The SEC's letter to Elon Musk about his early Twitter stake, Dell among the tech winners, and the blank-check bubble bursts for SPACs 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, David Faber and Leslie Picker discussed the markets extending Wednesday's gains. Retail among the bright spots toward the end for what has been a rough month for the sector: Shares of Dollar Tree, Dollar General and Macy's each up double-digits in reaction to quarterly results. In M&A news, Broadcom has agreed to acquire VMWare for $61 billion in cash and stock. Also on the tech front, Nvidia and Snowflake slide, Elon Musk says he will commit more of his wealth to finance his $44 billion Twitter takeover deal, and Apple reportedly plans to keep 2022 iPhone production levels below analyst forecasts in wake of China COVID lockdowns and supply chain issues. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.