Squawk on the Street
Markets Jump, Lulu Slumps, Jack Ma Cedes Control of Ant Group, Merck CEO "First on CNBC" 1/9/23
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Show notes
Carl Quintanilla, Jim Cramer and David Faber discussed the markets extending gains after a positive first week of 2023 for stocks. The anchors also explored woes for a pair of retailers: Shares of Lululemon and Macy's each down sharply on holiday quarter guidance. Carl, Jim and David reacted to Ant Group founder Jack Ma ceding control of the Chinese fintech giant, and the boost to shares of Alibaba, which owns a roughly 33% stake in Ant. Merck CEO Robert Davis offered his outlook for the pharma giant "First on CNBC" from the J.P. Morgan Healthcare Conference in San Francisco. Also in focus: Goldman Sachs reportedly set to begin layoffs, plus a look at the stocks rising more than 100% on M&A news. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com
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