Squawk on the Street
Morgan Stanley’s Big Beat, Amazon Goes Nuclear, Luxury Letdown 10/16/24
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Show notes
Carl Quintanilla, Jim Cramer and David Faber started the show by breaking down the quarterly results out of Morgan Stanley. Shares of the big bank soared to new record highs, after topping estimates on better-than-expected wealth management, trading and banking results. A similar picture for United Airlines after the company posted an earnings beat and announced it will buy back $1.5 billion worth of shares, which gave the stock a boost. The desk also hit Amazon, the latest tech company to join the nuclear energy craze. Amazon Web Services announced that it is investing over $500 million in nuclear power, including three projects from Virginia to Washington State. After the opening bells, the anchors also hit the weak results out of LVMH, which suffered slumping sales in China.
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