43 min listen
Moody’s Downgrades Banks, Pharma Stocks Surge, UPS Cuts Forecast 8/8/23
Moody’s Downgrades Banks, Pharma Stocks Surge, UPS Cuts Forecast 8/8/23
ratings:
Length:
44 minutes
Released:
Aug 8, 2023
Format:
Podcast episode
Description
Carl Quintanilla, Jim Cramer and David Faber began the hour by breaking down Moody’s decision to cut its ratings on 10 U.S. banks, which dragged on the broader markets and the financial sector. On the bright side, pharma names rallied after Eli Lilly reported better than expected profit and revenue. Shares of Novo Nordisk also surged after key trial data showed its drug Wegovy cuts risk of heart attack or stroke by 20%. Also in the mix: UPS cut its margin and revenue forecasts following weak e-commerce demand and the company’s new labor contract. Squawk on the Street Disclaimer
Released:
Aug 8, 2023
Format:
Podcast episode
Titles in the series (100)
Squawk on the Street: Opening Bell 08/29/2019: A bounce back week. The Squawk on the Street team breaks down the pop in stocks as China says it's willing to resolve the trade war with a 'calm attitude'. Plus, Elon Musk & Jack Ma take the stage at the World Artificial Intelligence Conference in Shanghai. by Squawk on the Street