Squawk on the Street
The Inflation Rally Rolls On, Magic for Disney, the "Zantac Effect," and the CEO of Devon Energy -- a Red-Hot Stock. 8/11/22
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Show notes
Jim Cramer and David Faber led off the show with another inflation report extending the market rally: The Producer Price Index for July fell unexpectedly month-on-month for the first time in more than two years, though still up 9.8% from a year ago.
The anchors also reacted to Disney shares surging on quarterly results, driven by record theme park revenue, bigger-than-expected Disney+ subscriber growth and plans for a new pricing structure -- including a hike in streaming subscription fees. Devon Energy CEO Rick Muncrief joined the program. Heading into Thursday’s trading session, Devon shares were up more than 280% since the beginning of 2021. Also in focus: Drugmakers GSK and Sanofi take a hit on litigation concerns surrounding heartburn drug Zantac.
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