5 Things to Know Before the Opening Bell 10/22/2025

Wed Oct 22 2025

CNBC reports that Walmart is pausing hiring of candidates that require H-1B visas, Barclays raised guidance and announced a surprise share buyback, Western Alliance Bancorp’s results beat most estimates despite bad loans and alleged fraud, LVMH is reportedly exploring a sale of its 50% stake in Rihanna’s makeup brand Fenty, and Microsoft CEO Satya Nadella’s annual pay has risen to $96.5 million. Squawk Box is hosted by Joe Kernen, Becky Quick and Andrew Ross Sorkin. Follow Squawk Pod for the best moments, interviews and analysis from our TV show in an audio-first format.

Summary

Squawk Pod: 5 Things to Know Before the Opening Bell – October 22, 2025

Episode Overview

This episode delivers a concise briefing on five major business stories shaping the markets before trading starts on October 22, 2025. Host Becky Quick provides updates and context on labor and immigration policy at Walmart, earnings reports from major banks, luxury market shifts, and executive compensation news — giving listeners a fast, insightful preview of the day’s top corporate headlines.

Key Discussion Points & Insights

1. Walmart Pauses H1B Hiring

Main Point: Walmart, one of America’s largest employers of H1B visa holders, is temporarily pausing the hiring of candidates requiring H1B worker visas.
Reason: This decision follows a new $100,000 fee President Trump imposed on H1B applications last month.
Official Statement: Walmart emphasized its commitment to hiring quality talent while being “thoughtful” about its approach to H1B hires.
Significance: This move puts a spotlight on the broader impact of U.S. immigration policy changes on corporate hiring, particularly within large multinational businesses.
Notable Quote: “Walmart is committed to hiring and investing in the best talent to serve our customers while remaining thoughtful about our H1B hiring approach.” – Walmart spokesperson (01:02)

2. Barclays Raises Guidance and Announces Buyback

Main Point: British banking giant Barclays raised its financial guidance and announced a £500 million share buyback program.
Market Reaction: Barclays’ stock responded positively, rising 4.5% in early trading.
Significance: The announcement suggests confidence in future earnings and aims to return value to shareholders.

3. Western Alliance Beats Profit Expectations

Main Point: U.S. regional bank Western Alliance reported profits up more than 27% year over year.
Investor Reassurance: The bank addressed concerns regarding an alleged real estate fraud tie, clarifying that the incident did not impact overall performance.
Market Reaction: Western Alliance shares climbed 2.8%.
Notable Quote: “[The bank] reassuring investors an alleged fraud tied to a real estate investor group did not hurt the bank's overall performance...” (01:28)

4. LVMH May Sell Stake in Fenty Beauty

Main Point: Luxury conglomerate LVMH is reportedly considering a sale of its 50% stake in Fenty Beauty, the cosmetics brand it co-owns with Rihanna, according to Bloomberg.
Industry Impact: Such a move would mark a significant shift in the luxury beauty sector, potentially affecting both LVMH’s portfolio and Fenty’s market trajectory.

5. Microsoft CEO Satya Nadella’s Compensation Soars

Main Point: Satya Nadella, CEO of Microsoft, received a 22% pay increase for fiscal 2025—bringing his total compensation above $96 million, primarily through stock awards.
Reason: The raise reflects Microsoft’s ongoing stock market rally and Nadella’s central role in driving the company’s success.

Notable Quotes & Memorable Moments

“Walmart is pausing hiring of candidates that require H1B worker visas... President Trump hit applications with a new $100,000 fee last month.” – Becky Quick (00:51)
“Barclays raising guidance and announcing a 500 million million pound share buyback. That stock up by 4 and a half percent.” – Becky Quick (01:14)
“Regional bank Western Alliance... reporting a more than 27% increase in profits year over year...” – Becky Quick (01:21)
“Luxury giant LVMH is exploring a sale of its 50% stake in Fenty Beauty, which it co owns with Grammy Award winning winning singer Rihanna.” – Becky Quick (01:33)
“Microsoft CEO Satya Nadella getting a big pay bump as the company's stock continues to rally. Nadella's pay for fiscal 2025 climbing 22% to more than $96 million...” – Becky Quick (01:39)

Timestamps for Key Segments

Walmart & H1B Policy Update: 00:51 – 01:11
Barclays Guidance & Buyback: 01:12 – 01:20
Western Alliance Profit Report: 01:21 – 01:29
LVMH/Fenty Beauty Stake Sale: 01:30 – 01:37
Microsoft/Nadella Compensation: 01:38 – 01:45

Episode Takeaways

U.S. immigration policy continues to shape corporate hiring strategies.
Major banks are showing resilience and rewarding shareholders.
The luxury sector is in flux, with high-profile partnerships under review.
Executive pay closely tracks performance in tech’s top echelon.

This breakdown offers a focused, high-impact overview of what investors and professionals need to know heading into the trading day.

Transcript

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For 140 years, MultiCare has been in Washington prioritizing long term solutions, partnering with local communities and expanding access to care. Together, we're building a healthier future. Learn more@ multicare.org trading@schwab is powered by Ameritrade, giving you even more specialized support than ever before, like access to the Trade Desk. Our team of passionate traders ready to tackle anything from the most complex trading questions to a simple strategy gut check. Need assistance? No problem. Get 24. 7 professional answers and live help and access support by phone, email and in platform chat. That's how Schwab is here for you to help you trade brilliantly. Learn more@schwab.com trading hi, I'm Becky Quick, co host of Squawkbox, and this is five things you need to know before today's opening bell. Source Telling CNBC Walmart is pausing hiring of candidates that require H1B worker visas Walmart was the ninth largest corporate recipient of H1BS in America in fiscal 2025. President Trump hit applications with a new $100,000 fee last month. In a statement to CNBC, a Walmart spokesperson said Walmart is committed to hiring and investing in the best talent to serve our customers while remaining thoughtful about our H1B hiring approach. British bank Barclays raising guidance and announcing a 500 million million pound share buyback. That stock up by 4 and a half percent. Regional bank Western alliance reporting a more than 27% increase in profits year over year. The bank reassuring investors an alleged fraud tied to a real estate investor group did not hurt the bank's overall performance and that stock is up by 2.8%. Luxury giant LVMH is exploring a sale of its 50% stake in Fenty Beauty, which it co owns with Grammy Award winning winning singer Rihanna. That's according to Bloomberg and Microsoft CEO Satya Nadella getting a big pay bump as the company's stock continues to rally. Nadella's pay for fiscal 2025 climbing 22% to more than $96 million, including more than $84 million in stock awards. We'll be back later today with Squawk Pod, our daily podcast featuring the best of Squawk Box. Stay tuned to your feed wherever you get your podcasts and listen anytime. Foreign Schwab is powered by Ameritrade, giving you even more specialized support than ever before, like access to the Trade Desk. Our team of passionate traders ready to tackle anything from the most complex trading questions to a simple strategy gut check. Need assistance? No problem. Get 247 professional answers and live help and access support by phone, email and in platform chat. Email that's how Schwab is here for you to help you trade brilliantly. Learn more@schwab.com trading.