Highlights of David Faber's "Jeopardy!" Guest Hosting Debut, China's "Spiritual Opium" Message Hits Tencent and Videogame Stocks, Alibaba's E-Commerce Growth Slowdown, COVID Spikes Hit the Reopening Trade, and Pepsi's $3.3B Juice Sale.

Squawk on the Street

Aug 3 2021 • 44 mins

Carl Quintanilla, Jim Cramer and David Faber led off the program by talking about David's debut as guest host of "Jeopardy!" -- the first episode aired Monday. It was a fun discussion that went into everything from the highlights of the show to how social media reacted to David's performance. As for the markets, the anchors explored developments out of China that sparked regulatory fears: Shares of Tencent fell sharply -- dragging down several video gaming stocks around the globe -- after a Chinese state media outlet criticized online gaming as "spiritual opium." China’s Alibaba saw shares fall on a quarterly revenue miss as e-commerce growth slowed amid heightened competition. Also in focus: Clorox shares tumble on weaker-than-expected quarterly results, PepsiCo agrees to sell juice brands including Tropicana and Naked to a French private equity firm for $3.3 billion, Micron's first-ever dividend, media stocks under pressure, Florida's spike in COVID cases and what's at stake for Disney, and Reese Witherspoon agrees to sell her media company to a venture led by Blackstone for $900 million.