Squawk on the Street

A government shutdown is set to cut flights at major U.S. airports, leading to major air travel disruptions. Nvidia's CEO softens his stance on the U.S.-China AI race, while Tesla shareholders gear up to vote on Musk's staggering $1 trillion pay package. Historical flight disruptions and recessionary layoffs are heating up political discussions. Meanwhile, financial dynamics around AI infrastructure and an M&A bidding war for Metsera are making waves in the market.

Brian Moynihan, CEO of Bank of America, shares insights from the bank's first investor day in 15 years, discussing strategies for growth and risk management. He highlights how the bank plans to leverage held assets and boost returns while addressing consumer trends. Meanwhile, Lemonade's CEO Daniel Schreiber explains how AI is revolutionizing the insurance sector, improving efficiency and driving growth. The podcast also covers the Supreme Court’s tariffs hearing and the competitive bidding war between Novo Nordisk and Pfizer in the weight loss market.

Market trends heat up as McDonald’s slashes prices, igniting a surge in sales and stock performance. Cramer dives into the ADP report, highlighting its implications for the labor market. Lower pricing from companies like Lemonade and Carvana might ease consumer inflation. He also emphasizes that Starbucks should consider reducing cup prices to boost its stock. The discussion navigates through tariffs and pricing strategies, revealing potential market opportunities ahead.

Tensions rise as investors react to AI stock valuations following a major sell-off. McDonald's surprises with positive sales growth despite missing quarterly targets. The discussion heats up around significant Democratic election victories, including a surprising mayoral win in NYC. Meanwhile, attention shifts to Elon Musk's massive pay package awaiting a shareholder vote and Bitcoin's surprising drop below $100,000. The bidding war between Novo Nordisk and Pfizer for MetSera adds another layer of intrigue to the mix.

David Kostin, Goldman Sachs’ Chief U.S. equity strategist, shares critical insights on market red flags emerging from earnings season. He questions whether earnings beats are truly rewarding investors or merely creating illusions in the stock market. Kyle Clark, CEO of Beta Technologies, discusses their upcoming IPO and innovative strides in electric aviation, emphasizing production timelines and unique business models. Ted Leonsis, Chairman of Monumental Sports, explores evolving sports media rights, franchise valuations, and the surprising parallels between sports teams and SaaS businesses.

In this discussion, Cramer emphasizes the importance of being prepared to buy during stock pullbacks, specifically in relation to Eaton. He highlights how Eaton's results reflect broader trends in AI-driven capital expenditures, particularly among hyperscalers. The hosts dive into Eaton's recent sales performance, showcasing a combination of slight sales misses and strong backlog growth. They also touch on Eaton's strategic acquisition of Boyd Thermal, positioning the company for growth in data center cooling. It's a great time for investors to consider their options and manage their portfolios strategically.

The tech sector under pressure: Carl Quintanilla, Jim Cramer and David Faber began the show with Palantir shares down sharply despite better-than-expected Q3 results and upbeat revenue guidance. Hear what CEO Alex Karp told CNBC about short sellers as Palantir shares remain among this year's best performers on the S&P 500. Pfizer and Novo Nordisk sweetened their respective offers to buy obesity drugmaker Metsera. Norway's sovereign wealth fund — the world's biggest — said it will vote against Tesla CEO Elon Musk's massive pay package that could total $1 trillion. Shopify President Harley Finkelstein joined the program to discuss the company's earnings and its outlook for the holiday quarter. Also in focus: Earnings winners and losers. Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this discussion, Jeff Marks, a contributor to the CNBC Investing Club and investing expert, joins Jim Cramer to dive into Wall Street dynamics. They evaluate the potential undervaluation of NVIDIA, spurred by significant developments like OpenAI's substantial AWS contract. Marks highlights Nvidia's upcoming GPU shipment ramp and the implications of these trends on tech valuations. The duo emphasizes a fresh approach to analyzing big tech companies, advocating for a focus on individual market performance over blanket assessments.

John Kemp, CEO of CUNITY, a DuPont spin-off specializing in electronics and semiconductor materials, shares insights on their recent IPO. He discusses how CUNITY fits into the evolving semiconductor landscape, emphasizing advanced packaging and its importance for performance in AI data centers and wearable technologies. The conversation also touches on global manufacturing strategies and the increasing demand for innovative semiconductor solutions as the market shifts.

Mark Zandi, Chief Economist at Moody's Analytics, reveals how AI is a game-changer for the U.S. economy, suggesting we'd be in a recession without it. He discusses the profound effects of AI on hiring and investment patterns. Michael Arougheti, CEO of Ares Management, shares insights on strong fundraising results and the outlook for alternative investments. He offers a glimpse into how AI is transforming Ares' portfolio and discusses the benefits of expanding retail access to private investments. Together, they paint a picture of an evolving economic landscape.