Squawk Pod – October 31, 2025

Episode: Exxon’s Darren Woods & NYC’s Marathon Weekend
Hosts: Becky Quick & Andrew Ross Sorkin
Notable Guests: Darren Woods (ExxonMobil CEO), Rob Simulcazier (NY Roadrunners CEO), Mike Pollack (JackOLanterns.com President)

Episode Overview

This episode of Squawk Pod dives into several major stories impacting business and culture:

1. An exclusive interview with Darren Woods, CEO of ExxonMobil, discussing the oil giant’s quarterly results, the political, economic, and regulatory landscape, and Exxon’s strategic vision.
2. A deep look at the economic and cultural impact of the New York City Marathon with Roadrunners CEO Rob Simulcazier.
3. Timely corporate updates on FANG stocks, Halloween consumer trends, and expert pumpkin preservation tips.

Throughout, hosts Becky Quick and Andrew Ross Sorkin extract candid insights, challenge guest CEOs on policy and performance, and blend upbeat conversation with analytical rigor.

Key Discussion Points & Insights

1. Market & Tech Stock Updates

FANG and Cloud: Amazon, Apple, Nvidia, Netflix

• Amazon's Massive Quarter (03:40)

  • Amazon shares soar 12.6% on better-than-expected earnings and revenue, largely driven by AWS’ 20% YoY growth ($33.2B in revenue, major backlog).
  • CEO Andy Jassy signals ongoing acceleration:

    "We can't satiate [demand] quickly enough. We've got $200 billion in a backlog backorder..." (05:01, Becky Quick)

  • Cloud continues to be a competitive battleground with Microsoft and Google, fueling tech stock momentum.

• Apple's Durable Strength (06:42)

  • Earnings and revenue beat estimates, with iPhone 17 SEO sales strong and Tim Cook forecasting “the best December quarter in history.”
  • Noteworthy skepticism around China sales, but optimism for rebound:

    "For all the moments where people count Apple out, that has been a bad trade." (07:30, Andrew Ross Sorkin)

• Nvidia’s Global Expansion and AI Policy (07:34)

  • CEO Jensen Huang secures major Korean partnerships and touches on potential Blackwell chip sales in China, highlighting US-China tech tensions.

• Netflix’s Stock Split & Acquisition Rumors (08:45)

  • Announces 10-for-1 split to appeal to retail investors, alongside reported interest in acquiring Warner Bros Discovery's studio and streaming arm.

  • "This could get interesting...a bunch of people around the table." (10:54, Andrew Ross Sorkin, on potential bidding war)

2. Halloween Business – Experience Economy (12:17–16:32)

• Pumpkin Business Trends

  • JackOLanterns.com President Mike Pollack describes Halloween as second only to Christmas for live events.
  • Consumers are split: some seek value, others pay premium (“flex tickets,” no lines, $50–$100+ for a premium experience).

  • “The live events business just keeps getting bigger. But this year…people are really looking for value.” (12:24, Mike Pollack)

  • Pivot to premium experiences is strong among those willing to spend for convenience and exclusivity.

• Artisan Labor & Logistics

  • 90+ pumpkin carvers on Long Island, with large pumpkins taking up to 8 hours to carve.
  • “We’re only asking five days out of these pumpkins...then we cycle them every week.” (16:11, Mike Pollack)
  • Practical pumpkin preservation tip:

    “You have to cut the hole in the bottom. Don’t do it on the top…you want all those juices and the liquid to fall out over time.” (15:39, Mike Pollack)

    “News you can use, folks, because I always do it on the top.” (15:44, Andrew Ross Sorkin)

3. Exclusive: ExxonMobil CEO Darren Woods (18:55–32:13)

Quarterly Results & Production Strategy

• Exxon beat EPS estimates; revenue slightly missed.
• Most profitable quarter since the Exxon-Mobil merger.
• “We continue to reduce cost…That’s a cumulative cost reduction of over $14 billion [since 2019]. Nobody in our industry…is outcompeting us on cost reductions.” (19:27, Darren Woods)
• Portfolio positioned for double-digit returns at $35 oil; robust project pipeline through 2030.

Wall Street Sentiment & Break-Even Economics

• Analysts question growing production into potentially softer oil prices.
• Woods:

  “All the projects that we’re investing in have to generate double digit returns at $35 a barrel.” (22:44, Darren Woods)

• Exxon’s break-even point and technology edge distinguish them from competitors.

Layoffs & Restructuring: US and Europe

• Recent layoffs (2,000) in EU/Canada due to organizational effectiveness, not cost-cutting.
• US consolidation at Houston campus already complete:

  “Those reductions are about 3 to 4% of our global workforce…and they’re not driven by cost cutting, they’re driven by effectiveness.” (24:40, Darren Woods)

Supply, OPEC, and Global Energy Policy

• Exxon supply decisions driven “by pure economics.”
• Short-cycle unconventional reserves offer flexibility:

  “We have the opportunity to turn [resources] on and off consistent with what we’re seeing in the marketplace.” (26:24, Darren Woods)

• Views OPEC as managing “moderated pace,” doesn’t try to predict its moves.

European & Californian Regulation: Cautionary Tone

• Woods is sharply critical of climate-driven regulation in Europe and California:

  “We owed it to our employees to be vocal…The policies being put in place in Europe are actually suffocating their economy.” (27:37, Darren Woods)

  “California is…chasing a flawed ideology. That’s a recipe for disaster.” (29:53, Darren Woods)
• Exxon is suing California over climate disclosure laws (“forced speech”).

Venezuela, Guyana, and Caribbean Geopolitics

• Tensions over Exxon activity in Guyana and Trinidad vs. Venezuela’s objections.
• Woods confident in international support for open markets:

  “The US and many of the European countries are standing up to any bullying that might come out of Venezuela to make sure that Caribbean area remains free.” (31:20, Darren Woods)

4. New York City Marathon: Economic & Cultural Powerhouse (32:22–41:17)

• Economic Impact & Marathon Culture
  • $1B annual impact from NY Roadrunners events; $700M from the marathon alone.
  • City comes alive:

    “It’s just the energy the city brings. We have 2 million spectators along the course.” (32:33, Rob Simulcazier)

  • International draw as runners and families stay in hotels, visit shows, restaurants—marathon is as much a “giant party” as a sporting event.
• Trends in Running Participation and Sponsorship
  • Running surges post-pandemic, events sell out, younger demographics drawn in.
  • Major sponsors (TCS, New Balance) eager for brand association.

  • “Running is very hot right now...just about every race we hold has been sold out since I've been the CEO for three years.” (37:35, Rob Simulcazier)

• On Marathon Elites vs. Everyman Stories
  • Elliot Kipchoge, the “Michael Jordan of marathon running,” attracts attention, but the sport’s heart is regular runners’ stories (e.g., overcoming cancer, stroke).

  • “That’s where most of the energy is in the sport...incredible and inspiring stories.” (39:43, Rob Simulcazier)

• Gear & Records
  • Innovations in running shoes (“carbon plates”) are legal and help runners of all levels set personal records.

Notable Quotes & Memorable Moments

• On Amazon’s Cloud Growth:
  “We can’t satiate [demand] quickly enough. We’ve got $200 billion in a backlog backorder for these things...”
  – Becky Quick (05:01)

• On Apple:
  “For all the moments where people count Apple out, that has been a bad trade.”
  – Andrew Ross Sorkin (07:30)

• Pumpkin Preservation:
  “You have to cut the hole in the bottom. Don’t do it on the top...you want all those juices and the liquid to fall out over time.”
  – Mike Pollack (15:39)

• Exxon Break-Even Discipline:
  “All the projects that we’re investing in have to generate double digit returns at $35 a barrel.”
  – Darren Woods (22:44)

• On European Energy Policy:
  “The policies being put in place in Europe are actually suffocating their economy.”
  – Darren Woods (27:37)

• Venezuela and the Caribbean:
  “...the US and many of the European countries are standing up to any bullying that might come out of Venezuela…”
  – Darren Woods (31:20)

• Marathon as Citywide Party:
  “It’s just the energy the city brings. We have 2 million spectators along the course.”
  – Rob Simulcazier (32:33)

Timestamps for Key Segments

• 03:40 – Amazon, Apple, Nvidia, Netflix updates
• 12:17 – Halloween business: Mike Pollack on jack-o-lanterns and event economics
• 18:55 – Exxon’s Darren Woods on Q3 results, policies, global outlook
• 32:22 – Rob Simulcazier on NYC Marathon: economic impact, culture, trends

Tone & Style

The episode retained Squawk Pod’s trademark blend of lively “news you can use,” candid CEO exchanges, and accessible market analysis. Key insights were drawn out through pointed, conversational questions, with memorable offbeat moments (pumpkin preservation, marathon medals) supplying levity amid heavy-hitting interviews.

For additional context and exclusive video, visit CNBC's Squawk Pod show notes and social media feeds.