Squawk Pod – "5 Things to Know Before the Opening Bell" (December 5, 2025)

Podcast: Squawk Pod
Hosts: Andrew Ross Sorkin, Joe Kernen (CNBC)
Episode Date: December 5, 2025

Overview

In this succinct pre-market episode, hosts Andrew Ross Sorkin and Joe Kernen break down five major stories investors need to know before Wall Street’s opening bell. The episode covers key earnings reports, high-profile executive departures, and a notable board appointment at a retail giant. The tone is fast-paced and focused, providing essential market context and analysis for traders and business enthusiasts.

Key Discussion Points & Insights

1. DocuSign Earnings Reaction (01:02–01:28)

• Headline: DocuSign surpasses revenue and profit expectations.
• Market Reaction: Despite positive results, shares are down.
• Analysis: The issue seems to be the company’s current quarter outlook, which "didn't top expectations."
• Follow-up: CEO interview teased for the next hour.
• Quote:

  "DocuSign beating revenue and profit estimates, but shares are lower. One possible reason – DocuSign's current quarter outlook didn’t top expectations."
  — Andrew Ross Sorkin [01:07]

2. Hewlett Packard Enterprise (HPE) Performance (01:28–01:38)

• Headline: HPE beat earnings but missed revenue expectations.
• Future Guidance: Current quarter sales forecast also came in below expectations.
• Market Reaction: Shares are under pressure.

3. Apple Executive Departures (01:38–01:58)

• News: Retirement of Apple's general counsel and VP for environment, policy, and social initiatives.
• Organizational Impact: Both reported directly to Tim Cook; part of a recent wave of high-level departures.
• Concern: Raises "lots of questions about what that turnover ultimately means."
• Quote:

  "A whole bunch of folks have been leaving Apple, I know, in recent weeks and months and lots of questions about what that turnover ultimately means."
  — Andrew Ross Sorkin [01:53]

4. Ulta Beauty Earnings (01:58–02:12)

• Performance: Earnings and revenue topped estimates; company raised its full-year guidance.
• Consumer Behavior: Shoppers continue spending on beauty despite being more selective elsewhere.
• Market Reaction: Shares moved higher.

5. Costco’s New Board Member (02:12–02:33)

• Appointment: Former Biden administration Commerce Secretary Gina Raimondo joins Costco’s board.
• Context: Follows recent news of Costco suing the government to recover Trump-era tariff costs.
• Quote:

  "Costco saying it is adding former Biden administration Commerce Secretary Gina Raimondo to its board... about a week after Costco sued the government seeking to recoup tariff costs that it paid under President Trump."
  — Andrew Ross Sorkin [02:19]

Memorable Moments & Quotes

• On Apple’s Leadership Exodus:
  "A whole bunch of folks have been leaving Apple... in recent weeks and months and lots of questions about what that turnover ultimately means."
  — Andrew Ross Sorkin [01:53]

• Previewing Interviews:
  "We're going to speak with DocuSign CEO next hour."
  — Andrew Ross Sorkin [01:11]

Timestamps for Key Segments

• DocuSign Earnings & Outlook: 01:02–01:28
• HPE's Missed Revenue: 01:28–01:38
• Apple Executive Departures: 01:38–01:58
• Ulta Beauty Results: 01:58–02:12
• Costco Board Announcement: 02:12–02:33

Takeaway

This episode delivers a crisp, insightful round-up of the day’s top business stories in just a few minutes, offering actionable information for market participants. From surprise earnings performances to shifts at top tech companies and significant boardroom moves, the Squawk Pod cuts straight to the market-moving headlines investors need at the start of their day.