Squawk on the Street
Stocks Surge to Start the Week, Regeneron's Covid-19 Treatment Disappoints, Returning Aid, Apple Pushing Back Production
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Show notes
Carl Quintanilla, Jim Cramer and David Faber discuss the up start for stocks to kickoff the week. Regeneron's arthritis drug that was seen as a promising treatment for some Covid-19 patients delivered disappointing results in clinical studies. The global total for confirmed coronavirus cases closing in on 3 million.
Adidas reports results and a 93% plunge in first-quarter profit and sales of 19% missing forecasts and warning of a deeper hit to Q2 revenue. Boeing drops it’s Embraer deal saving around $4 billion in much-needed cash. A report says that Apple is pushing back the production of its new iPhone models. Plus, at least 13 of the public companies that received hardship loans said they’ll be returning the money.
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