The Fed's hawkish cut, Oracle earnings, Coca-Cola's next CEO and more in Morning Squawk

In the latest market update, stocks made a significant leap following the Federal Reserve's anticipated interest rate cut during its final meeting of the year. However, the central bank adopted a cautious tone, indicating that this reduction does not imply further cuts are imminent. Oracle's recent earnings report fell short of analysts' expectations, leading to an 11% drop in its shares during after-hours trading. This downturn had a ripple effect on other AI-related stocks, including Nvidia and CoreWeave. While Oracle's earnings per share exceeded Wall Street forecasts, the revenue miss overshadowed these results. Notably, the company reported a staggering 400% increase in remaining performance obligations compared to a year prior, fueled by new commitments from major firms like Meta and Nvidia. In contrast, Cisco's shares surged to an all-time high, marking the company’s first record since the dot-com boom in 2000. This milestone signals a strong recovery and investor confidence in Cisco's future. On another front, former President Trump announced that the U.S. has seized an oil tanker off Venezuela’s coast, claiming it to be the largest seizure of its kind. The tanker, identified as the Skipper, was reportedly en route to Cuba and had been sanctioned by the U.S. for its connections to a network supporting foreign terrorist organizations. Following this announcement, oil prices experienced a notable increase. In a shift towards integrating artificial intelligence, Rivian is set to host its inaugural "Autonomy and AI Day." This event aims to showcase the company's in-house technology for electric vehicles, particularly as Rivian faces challenges in meeting market expectations since its IPO four years ago. The company is grappling with significant financial losses while attempting to cut costs and boost software-related revenue. Additionally, Coca-Cola has announced a leadership transition, with operations chief Henrique Braun stepping in as CEO next year, succeeding James Quincey. Braun, who has been with Coca-Cola for nearly 30 years, will officially take over at the end of March, while Quincey will continue as executive chairman after an eight-year tenure as CEO. Despite outperforming Pepsico under Quincey’s leadership, Coca-Cola faces challenges with diminishing demand amid rising inflation affecting lower-income consumers. Stay tuned for more updates on these pivotal developments affecting the market and industry trends.