Squawk on the Street
Nasdaq Hits a Fresh Record High, Reopening in America, Starbucks Pandemic Hit, Faber’s New Reporting on GrubHub & Uber
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Show notes
Carl Quintanilla and Jim Cramer discuss the surge in tech stocks, with the Nasdaq hitting a fresh record high. Plus, it’s a mixed picture across America as states begin to reopen. 21 states reporting weekly increases in new cases of COVID-19, as Arizona reactivates its emergency plan for medical facilities. One of the states hit hardest by the pandemic, New Jersey, lifting its stay-at-home order. Plus, David Faber phones in for in-depth reporting on GrubHub & Uber. Sources telling him that Uber is close to exiting those deal talks with GrubHub. Sticking with deal news Faber discusses Simon Property Group terminating its agreement with Taubman. Plus, Starbucks says it lost $3 billion in revenue in the latest quarter due to the coronavirus pandemic. The coffee chain says it expects to swing to a loss in the fiscal third quarter and that same-store sales in the U.S. and China to decline 10% to 20% for the full fiscal year.
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