CNBC's "Fast Money" Podcast Summary Episode: Apple’s Sweet Gains… And Eli Lilly Drops After Reporting
Release Date: August 7, 2025

Introduction

In this episode of CNBC's "Fast Money," host Melissa Lee and a panel of seasoned traders dissect the day’s most impactful market movements. The discussion primarily revolves around Apple’s impressive stock surge, Intel's CEO challenges, Federal Reserve dynamics, earnings reports from key players like Block and Pinterest, and significant developments in the pharmaceutical sector with Eli Lilly and Novo Nordisk.

1. Apple’s Stock Surge: A Potential Re-rating?

Timestamp: 01:07 - 07:17

The episode kicks off with a deep dive into Apple’s remarkable stock performance. Following CEO Tim Cook's announcement of a $100 billion investment to bring manufacturing back to the U.S., Apple’s shares surged by 3% on the day, adding a staggering $250 billion in market cap over two days—surpassing IBM’s total market value.

Key Points:

• Apple’s Performance: After a 5% jump the previous day, Apple’s continued gains prompted speculation about a potential re-rating of the stock.
• Impact of Tariffs: The positive sentiment partly stems from the reversal of tariffs, alleviating previous market overhangs.
• AI Integration: Panelist Courtney Garcia highlighted the unpriced potential of artificial intelligence (AI) integration into Apple’s ecosystem. She noted, “We have not priced in an installed base that will be served up AI through an Apple handset” (02:35).

Notable Quotes:

• Courtney Garcia: “It's a story where the services revenue I think is very much a part of where this company is” (03:47).
• Melissa Lee: “I do think the story isn't something we can ignore with Apple” (06:53).
• Dan Nathan: “That seems like a bargain” referring to Apple’s investment announcement (06:53).

Dissenting Views: Karen Feiderman expressed skepticism about the sustainability of Apple’s rally, citing reliance on consumer behavior in China and unaddressed risks from tariff impacts. She stated, “They got nothing there. They got zero” (05:40).

2. Intel Under Fire: CEO Pressure from President Trump

Timestamp: 09:30 - 18:44

The conversation shifts to Intel, where President Trump publicly called for the resignation of CEO Lip Bhutan, citing conflicts of interest due to ties with Chinese companies. Intel’s shares fell by approximately 3% on the day, marking a 12% decline for the quarter.

Key Points:

• Political Influence: The president’s demands put Intel in a precarious position, especially concerning its $28 billion fab project in Ohio, which has faced delays.
• Competitive Challenges: Panelist Steve Liesman highlighted Intel’s operational struggles compared to rivals like TSMC and Samsung, stating, “They just fundamentally right now are better partners for any chip designer who needs to fab chips at great scale” (11:34).

Notable Quotes:

• Steve Liesman: “If changing the CEO again this year would make a difference, I don't know” (12:40).
• Karen Feiderman: “It seems pretty anti-capitalist here” regarding potential nationalization efforts (14:05).

Federal Reserve Appointment: The episode also touches on President Trump’s appointment of an interim replacement for Fed Governor Adriana Kugler. Analyst Evan David Segerman discussed the implications for the Federal Reserve's independence and future policy directions (10:31).

3. Earnings Reports: Block and Pinterest in Focus

Timestamp: 21:07 - 27:56

The panel reviews after-hours earnings reports from Block (formerly Square) and Pinterest, analyzing their impact on stock performance.

Block:

• Performance: Block’s shares surged up to 11% post-earnings, despite missing top and bottom-line estimates.
• Guidance: The company raised its full-year gross profit projection to 14% YoY growth, signaling confidence in future performance.
• CEO Insight: Jack Dorsey emphasized, “The company can double down and pull the thread on what resonates with people” (23:39).

Pinterest:

• Results: Revenue exceeded estimates at $998 million vs. $975 million; however, adjusted EPS missed by $0.02, leading to an 11% stock decline.
• User Growth: Monthly active users surpassed expectations by 3.5 million.
• Future Outlook: CEO Bill Reddy highlighted the shift towards Gen Z and AI-powered performance platforms as key growth drivers (25:41).

Notable Quotes:

• Melissa Lee: “There's no question it's a company that's chugging along” regarding Apple’s fundamentals (12:40).
• Courtney Garcia: “Cheap relative to itself” concerning Pinterest’s valuation (27:12).

4. Pharmaceutical Sector: Eli Lilly’s Setback and Novo Nordisk’s Opportunity

Timestamp: 32:18 - 38:59

Eli Lilly experienced its worst stock day since August 2000, despite beating earnings estimates. The decline was driven by disappointing results from its weight loss pill, Orford Clip, where patients lost an average of 12% body weight, and a significant discontinuation rate due to side effects.

Key Points:

• Market Reaction: Shares dropped 14% following the report, overshadowing strong earnings.
• Competitive Impact: The underperformance opened opportunities for Novo Nordisk, which saw its shares surge after delivering superior trial results.
• Drug Comparison: Panelist Jack Dorsey compared Eli Lilly’s Orford Clip to Novo’s Wegovy, highlighting differences in efficacy, administration, and manufacturing costs. He noted, “...your average and, the street being. Well, that's great. Glad you're pleased, but this isn't what we were looking at” (35:27).

Notable Quotes:

• Jack Dorsey: “I think this is very similar to Apple, in which case the headlines are getting from Washington are kind of hiding the bigger issues” (13:36).
• Courtney Garcia: “The market expectations for both companies are extremely high” (37:07).

Market Implications: The results suggest a potential shift in the GLP-1 space, with Novo Nordisk potentially gaining market share due to Eli Lilly’s setbacks. Panelists expressed bullish sentiment towards Novo, citing better valuations and competitive positioning.

5. Retail Movements: Ralph Lauren and Crocs Under Scrutiny

Timestamp: 37:07 - 45:46

Ralph Lauren:

• Performance: Shares fell by 6.5% despite a 14% sales increase year-over-year.
• Guidance: The company forecasted weaker second-half performance due to tariff pressures.
• Analysis: Panelists debated whether the sell-off was an overreaction. Melissa Lee pointed out strong international growth, particularly in China, suggesting an opportunity despite the drop (40:32).

Crocs:

• Performance: Shares plummeted nearly 30%, marking the largest decline since 2011, following a warning of a 9-11% sales decline.
• Factors: The company cited trade uncertainty and shifting consumer preferences as key challenges.
• Market Sentiment: Panelist Courtney Garcia attributed the drop to both micro and macroeconomic factors, expressing concerns about discretionary spending and competitive pressures in the footwear sector (41:19).

Notable Quotes:

• Karen Feiderman: “This is both a micro and macro story” regarding Crocs’ performance (41:19).
• Melissa Lee: “This is an opportunity” in Ralph Lauren's stock decline (40:55).

6. Additional Market Updates

Timestamp: 28:19 - 38:59

The episode also touches on other market movers:

• Space Tech: Firefly Aerospace’s stock surged 34% in its market debut but closed slightly lower.
• After-Hours Action: Gilead, Expedia, Instacart, and MP Materials reported earnings, with varying impacts on their stock prices.
• Tesla: Investors are monitoring Tesla’s Dojo supercomputer team disbandment.
• Airbnb: Shares fell over 8% post-earnings despite beating EPS and revenue estimates, due to weaker second-half growth forecasts.

Notable Insights:

• Melissa Lee: Emphasized the importance of consumer sentiment on companies like Airbnb, linking it to broader economic concerns about inflation and consumer spending (32:18).

Concluding Remarks

The panelists wrapped up the episode by sharing their final trades and perspectives on the discussed topics. Emphasis was placed on the potential investment opportunities amidst volatility, particularly in sectors like technology and pharmaceuticals where significant shifts are occurring.

Final Notable Quotes:

• Doug Clinton: “Novo over Lilly at this point” underscoring the preference for Novo Nordisk’s position over Eli Lilly amidst recent developments (38:44).
• Courtney Garcia: Highlighted Apple’s potential for further gains if AI integration continues to be undervalued by the market (46:00).

Disclaimer: The opinions expressed by the participants are solely their own and do not reflect the views of CNBC, NBCUniversal, or their affiliates. Investment decisions should be based on comprehensive research and personal financial considerations.