Brian Niccol speaking on CNBC’s Squawk Box on Oct. 30th, 2018.
Anjali Sundaram | CNBC
My top 10 things to watch Wednesday, Oct. 23
1. The S&P 500 was heading for a lower open — and if the decline continues through to the close, it will mark the third consecutive down session. Rising bond yields on Wednesday were again adding pressure on stocks. The big earnings report after the bell is from Tesla.
2. Starbucks pulled guidance in a preannouncement to next week’s earnings. And, why not? It is not Brian Niccol’s Starbucks, yet. But he’s formulating plans and putting everything in place. I think the new CEO’s strategy of the community coffee house can work. Global comp sales down twice what we thought. I heard all of this when Niccol got the CEO job at Chipotle in March 2018 when that stock was at $6.
3. GE Vernova is an orders story and the orders are extraordinary. Both natural gas power and electrification, which is the real story. The new data centers are going to be much bigger than people think and be powered by growth of the grid, which GE Vernova is uniquely suited to service. Winding down off-shore wind. On-shore just had its best quarter. This company is not a nuclear story. No new nukes until 2032. But it can add to its current fleet.
