Walmart's Tariff Warning, Cisco and CoreWeave CEOs, More Woes for UNH 5/15/25

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Carl Quintanilla (1:01)

Market moving insight and analysis. Join Jim Cramer, David Faber and me, Carl Quintanilla, on the opening bell hour of CNBC Squawk on the Street. Good Thursday morning. Welcome to Squawk on the Street. I'm Carl Quintanilla with Jim Cramer, David Faber, and Post 9 of the New York Stock Exchange. Pre-market's a bit lower on a morning of very noisy data. Retail sales, PPI claims, Philly, Empire. Bottom line is long-term yields are higher. 30-year yield, $4.99. Our roadmap begins with the country's biggest retailer, Walmart, posting its first revenue miss in about five years. Tariffs set to impact consumers, they say, as early as this month.

David Faber (1:35)

Plus UnitedHealth shares. They continue to drop. In fact, it's the worst stock on the S&P pre-market. That's no different than a lot of days. What now? Well, a report that the DOJ is investigating in the company for possible criminal Medicare fraud. Two tech CEOs are joining us live right here at Post 9 This hour, we've got an exclusive with Cisco's Chief Chuck Robbins. And we'll also have the CEO of CoreWeave following the company's first earnings announcement to win public.

Jim Cramer (2:02)

Michael Intrator?

David Faber (2:02)

I mean, why are you asking like it's a question? You know we do.

Jim Cramer (2:04)

This is T, I do the phony TV sub-period.

David Faber (2:06)

Yes, we do. Michael Intrator, the CEO of CoreWeave, will join us as well.

Carl Quintanilla (2:10)

Let's begin with Walmart reporting this quarterly beat on earnings and a jump in US comps. Despite overall revenue that was just shy of consensus, CFO tells CNBC the tariffs are still too high and as a result price hikes could begin later this month. Jim told Courtney Reagan these tariffs, the magnitude is more than any retailer can absorb, more than any supplier can absorb.

Jim Cramer (2:31)

Okay, I'm going to take the other side of the trade here. I think the stock was up initially because they have a very conservative management team. No one, if they're complaining, can you imagine what the other guys are looking like? I mean, they're going to be able to hold the line better than anyone with the possible exception of Costco, Cisco, which is one of the reasons why Costco is up. So David, you know Walmart better than anyone. You know that Walmart, well, you, there's a pretty, I appreciate when you say that.

David Faber (2:57)

I just feel as though there was a time when I knew the company extremely well because I did two documentaries on them. That time is not now.

Jim Cramer (3:03)

You know their culture.

David Faber (3:04)

That said, I try my best to understand what's going on.

Jim Cramer (3:06)

You have e-commerce finally breaking in the black, and you know that the fact is that if anyone can hold the prices down, it's going to be Walmart. I'm hoping to down more than everybody else.

David Faber (3:15)

Absolutely true. One thing that has not changed is the culture, obviously, in Doug McMillan, under Doug McMillan, over what is now a significant number of years as CEO, and obviously a track record of great success at the company as well. You can see that reflected in its stock price.

Jim Cramer (3:28)

So let it come down a couple bucks and then buy it because no one's going to be able to touch them.

David Faber (3:32)

You think it actually widens the gap between them and their competitors? Certainly, that's in terms of how you navigate tariffs, the high tariffs that were in place for a bit of time, the lower tariffs that are in place now and everything else.