Bitcoin's rough week, Amazon's plunge, Super Bowl ads and more in Morning Squawk

In a turbulent start to the trading day, shares of Stellantis have plummeted over 25% after the automaker announced a staggering $26 billion charge due to a significant business restructuring. This follows a challenging year for the Chrysler and Dodge parent company, which has already seen its stock decline by more than 12% at the beginning of 2026. Meanwhile, stock futures are showing signs of recovery as investors hope for a rebound from consecutive days of losses. However, the mood remains tense following a rough day for various asset classes, including stocks and cryptocurrencies. Investor confidence has been shaken by concerns regarding corporate spending on artificial intelligence and its disruptive potential on the software sector. Amazon's shares have also taken a hit, dropping more than 8%. Despite beating revenue forecasts for the fourth quarter, the e-commerce giant fell short on earnings per share, leading to skepticism about its ambitious $200 billion capital expenditure plan for this year, primarily aimed at expanding data centers. CEO Andy Jassy remains optimistic about the spending strategy, which is projected to double by the end of 2027. The anxiety surrounding major tech companies' AI investments has led to a staggering loss of over $1 trillion in market capitalization across the sector this week, affecting giants like Alphabet and Meta. In political news, former President Donald Trump has launched his TrumpRx platform, aimed at reducing prescription drug prices in the U.S. While he claims the site will save Americans money, it remains uncertain whether users will actually find better deals compared to other avenues. The initiative reflects the White House's focus on tackling exorbitant drug prices, which are often two to three times higher than in other developed nations. Experts, however, are skeptical about whether this platform alone can address the larger affordability issue. In IPO news, Bob's Discount Furniture had a stable debut on the New York Stock Exchange, pricing its shares at $17 and achieving a market valuation of $2.22 billion. This comes as the IPO market shows signs of a robust recovery, following a stellar year in 2025, which saw traditional IPOs raise $33.6 billion—the best performance since 2021. Conversely, retailers such as Peloton and Estée Lauder faced steep declines, with Peloton shares plunging over 25% due to disappointing quarterly results, and Estée Lauder dropping more than 19% after warning investors of a $100 million impact on annual profits due to tariffs. Finally, in a lighter note ahead of the Super Bowl, OpenAI's CEO Sam Altman is engaged in a public spat with rival Anthropic over their recent advertising campaigns. Anthropic's ad, which takes a jab at OpenAI's decision to introduce ads on ChatGPT, has been labeled 'deceptive' and 'dishonest' by Altman, despite his acknowledgment of its humor. As the weekend approaches, all eyes will remain on the stock market and the unfolding narratives surrounding these major developments.