tv The Claman Countdown FOX Business November 7, 2023 3:00pm-4:00pm EST
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to speak, it's tough. it's like changing the tires on a moving vehicle. i don't even know if it's too late. >> it's never too late to condemn anti-semitism. charles: but the outrage, when you see college students, even their teachers saying, sympathizing with hamas. and i'm not saying the palestinian people, hamas, the organization, that's problematic. >> so we might need to follow the path of britain and france. britain has criminalized sympathies with a hamas which is prosecutable with a 14-year prison sentence. so that's one thing to think about. and also as the u.s., we have enormous power to provide space to israel to actually eliminate hamas. charles: right. >> so that it is not going to have the terror infrastructure it exploits. charles: thanks so much for sharing this information with us, really appreciate it. >> my pleasure and honor. charles: all right, liz claman, over to you. liz: charles, it's election day. happy election day. charles: always. liz: if you don't vote, you can't complain. charles: that's true.
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you still will but you shouldn't. [laughter] liz: exactly. he knows me too well. the bulls are not complaining as we kick off the final hour of trade, especially if you're long the s&p and the nasdaq. let me show you the 2-week chart of the nasdaq. s it is a thing of beauty. the tech-heavy index is on pace for its eighth straight winning session, right now 134 points to 13,653. any gain at the close will mark the longest winning streak in two years. the s&p is right on its tail. the broader index is showing a 13-point gain and is climbing for its seventh day in a row. we also have not seen that from the s&p since 2021. now, if you look at the market internals, from 30,000 feet tech is at the top. but if you scrutinize the s&p leaders, it's pretty much a broad-based rally when you looked at each individual name. i mean, gen digital, it's a cyber safety solutions company, it had a quarterly revenue beat. we see expedia there, gaining
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77.25% -- 7.25%. big travel day, big travel numbers there. paycom, you got biorad labs, a whole bunch of other names. data deny -- datadog is in a kennel by itself. the securities software solutions provider is getting a lift from a 20% jump in new and existing customers as businesses basically their bread and butter, enterprise -- if there is a red slash mark on the markets, it's coming from plummeting oil prices. crude down 4.25% in the aftermarket session. one minute we're pressing against $90 a barrel, we're at $77.43 at the moment for light sweet crude. and, of course, in part because of concerns the economic slowdown in china will curb demand. we've got no surprise then that the worst performer on the dow heat map is chevron. the energy giant is down 2% and
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plummeting -- plumbing a 52-week low right now at $144.34. it has been a rough 2023 for chevron. it lost 20% compared to the basket of energy names in the xle etf which is down just 4%. so energy hasn't really been the winner overall, but certainly, you know, chevron's having an outsized problem here. on the opposite end, intel. intel is gushing higher on a "wall street journal" report indicating the chip maker is the leading candidate to potentially receive billions of dollars in government funding for secure facilities producing microchips for u.s. military and intelligence applications. all this and we've got a bunch of fedheads out there jawboning talking about inflation and interest rates and rate moves. so let's get to the floor show. joining me now, our traders, jon najarian and tom hayes. jon, what do you make of this 8-day nasdaq streak, and how long do you think it lasts?
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>> well, you've had a very nice move out of the leader, the biggest capitalized stock in the world with, apple. despite the fact that there aren't exactly bunting or banners being put up for the new iphone 15. despite that, liz, this one continues to drive higher. that helps lift the nasdaq. your 28% move out of data adog that you9 accurately said number one in the kennel, number one in my heart, liz. [laughter] other than you, okay, it's number two in my heart behind you, but this is a phenomenal report. like you said, 25% growth year year-over-year and great guidance going forward, liz. liz: true, yeah. let's not forget the guidance. but when you bring in the voices of the fedheads, we have three of them speaking here. and, tom, when you look at what governor, fed governor christopher wallace said specifically, he was out there trying -- it almost felt like he was dashing the hopes of people
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who were thinking flakes is on its way to being slayed. he said, quote, what people have in mind now is for prices to return to earlier with levels. that's not going to happen. and then we had michelle bowman, a fed governor and then the dallas fed, lori logan, president there, they're both saying, a hey, you know what? we could see another rate hike. >> i think logan did act knowledge we're sufficiently restrictive right now, so if you're a short seller, what you need to to know into rear end is the beatings will continue until morale improves. they came into earnings season super high up in cash, they were short long-term bonds, and expectations were super low. -40 points of basis -- earnings growth with 12% next year. you've got to look for opportunities. yes, we've gone straight up. we might consolidate a little bit, but i think the path of least resistance is going to be up. liz: jon, what about those bears
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and the ones who have gone short? a lot of hedge funds were short. they've gotten squeezed, certainly, they're counting out this market. but you've been able to the identify certain opportunities where people should be bearish. >> believe it or not, we're still bearish on many of the automakers, but ford in particular, liz, had a lot of speck laive the cash flowing in on the put side which, as you know, is an insurance policy or a bet that the market goes lower. and they were buying an in the money put in the case of ford. so that means that they didn't think that it was just going to the fall, they wanted to participate basically dollar for dollar to the downside in ford. and all of these automakers have taken on a lot more cost, liz, because of what has happened with the new contracts that they've signed. perhaps very deserved, but nonetheless, that cuts into profitability. liz: yeah. it's a $10.09 stock right now. annual low here was about $9,
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let me just check it, $9.63. ford, what can you say? i want to see that company succeed. i love the big autos here in the u.s., but where are you long, jon? >> i do too. well, you mentioned about that 4% drop for light sweet crude? we had unusual activity in several airlines, but jetblue. $4.30 this morning, they came in buying upside calls that expire on friday, liz. so it's the not a lot of time to be right, but none theless, they're buying this friday and next friday calls. they think the stock goes higher, and this is their biggest cost, is jet fuel. if and the pact that crude oil is down -- the fact that crude oil is down, i think you'll start seeing some more bets on the airline stocks. liz: interesting point. everything is interwoven, isn't it, tom? let me talk about where you see real opportunity right now because, like you said, short sellers just keep getting hair
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tuck cutses snacked. >> 10-year yields have collapsed down to 4.55 as of today. what's going to the happen peak rates narrative is going to permeate which means companies with a little leverage on their balance sheet that got hammer ed are going to rebound. number one is vf corp.. people are preble having a tough time -- probably having a tough time with this one. liz: hold on. hold that thought, because this is the parent company of vans, timberland, the north face -- >> yeah. liz: a bunch of these apparel companies, and they got hammered. a terrible quarter. >> mort face is up, vans is down. europe is up, u.s. is down. china and asia are up, u.s. is a problem. the stock was down 822% in 20 -- 82% in 2018. it was a 26-bagger by 2021. if you invested $5 million, you made $133 million -- liz: oh, my god. >> he's going to turn around this company.
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we're confident in the the his ability -- liz: here's the screen when he was -- when did he become ceo? >> 20 the 113. the stock was down 82% just like vp corp.. he delevered, got the business going, he's doing the exact same thing. he fired the president of vans, he's putting in a newth president, sharing janisport -- jans port -- liz: let's show vf corp. again. do you think that's a gutsy play, jon? which apparel companies, retail the companies look like they could do well this holiday season? >> well, lbmh always, liz. that would be my pick -- yeah, luxury doesn't know anything about recession. but i think tom's on a very good run here with vp corp.. picking up a stock in a market that looks like it's going from the lower e left to the upper right, i think this one in particular with the deleveraging that he described, i think that's a good bet at this level,
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liz. liz: let me just mention something in tech land. microsoft. microsoft is on track for a record close. you got any names in technologiesome. >> yeah, we own amazon, we bought last fall, and we own alphabet which we also bought last fall when no one wanted tech de. we buy things or that are unpopular, and when they get popular, we sell them off. liz: you guys have dispublic, both of you. i don't know how you do it. jon, tom, thank you very much for being our floor show traders odd. all right, today's date has new and major significance. that's because it has been one month since hamas attacked israel, murdering 1300 civilians and taking 240 hostages. and now the israelis have pushed deep into gaza to root out hamas and attempt the daring rescue of those hostages including a bunch of americans. but here at home, college campuses are struggling with an
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outbreak of anti-semitism. senator marsha blackburn cosponsored a resolution to demand colleges be held accountable for the hate its professors and students are spewing. next, she joins us live on how to give teeth to that resolution, and we'll yet her position on sending -- get her position on sending millions in support to israel and what about? much of that support by defense companies, general dynamics, lockheed martin, northrop grumman and rtx have all seen gains since october 7th. "claman countdown "is coming right back. the dow is up 47 points. ♪ ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf
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♪ liz: the u.s. is sending $320 million worth of precision bombs to israel as fighting intensifies in the region with the israeli defense forces forging deeper into gaza city at this hour. the biggest concern right now to many countries including, obviously, israel and the u.s. is getting the hostages who were taken by terror group hamas on october 7th out safely. today house speaker mike johnson held a press conference with families of hostages being held by by theists urging the senate to pass the house's republican-backed $14.5 billion israel aid package. >> we passed a bipartisan israel support measure which is exactly at the level that was requested by the white house and israel, $14.5 billion. we included a pay-for -- sorry -- that, unfortunately, some of our senate democrat friends have taken issue with. what our point has been and what we are requesting, urging the white house and the senate democrats to do so the complete
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that package and get it over the line so that we can e get israel the support and assistance it needs. liz: i want to bring in republican senator marsha blackburn of tennessee who has cosponsored a unanimous resolution last month to end anti-semitism on our country's college campuses. senator, let's tackle the money question first. the white house notified congress last tuesday about the $320 the million worth of specifically precision-guided weapons systems it will send to israel. and now the house has voted to advance that $14.5 billion in military aid to israel. do you see that number as adequate? too much? too little? >> what we know is that the idf will tell us what they need. israel will tell us what they need. they've been very specific. and because of that and because you've got this $320 million package, you have got the $14.5
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billion package, these things need to go immediately. and we need to make certain israel has what they need to defend themselves, to fight this war and to eradicate hamas from the if face of the earth. liz: your cohort, your colleague in the senate, lindsey graham, has said that it probably won't pass because it doesn't include -- i'm talking about the $14.5 billion that the house was able to pass -- because it does not include ukraine. he feels it's very important to include ukraine in a funding package. the enemies are very similar. russia, if you don't send a message to russia, he would argue, hebb taiwan is next. -- then taiwan is next. china will invade taiwan. those are his words. hamas is a terrorist group, so israel needs to be handled as well. where do you stand on allowing a package that would include both ukraine and israel? >> liz, i think we need to send israel immediately. as i said, israel is very
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specific. then let's take up ukraine and the border funding. of course that these to be addressed. we have if the to have some transparent say -- transparency around the funding for ukraine with. no one want wants her putin to win -- vladimir putin to win. we want to make certain that ukraine has what they need. we need some clarification on where are things in the pipeline. we have already appropriated i think it's $75 billion in total in aid, i humanitarian, governmental and military aid for ukraine. you've got those different buckets. so let's do this, let's get in there and see what is many process, where is all the humanitarian aid, and that is going to the take us a little bit longer. israel needs their money today. and then -- liz: yeah --
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>> yeah. liz: i was just going to say that this war so far away is causing such divisiveness here in america. you were able to get a bipartisan resolution passed and, of course, you had two democrats onboard, jackie rosen of nevada and chris van holland of maryland with you along with james lankford, the republican from oklahoma. and it's a resolution and it decries anti-semitism at universities. but since then we have watched as students have been arrested for violently threatening or attacking jewish students. i mean, just the other day a u-mass-amherst student spit on an a israeli flag and hen punched a jewish student in the face at an event. and i believe the event was for one of those bring home the hostages events. i mean, this is an event saying hostages need to come home, american hostages. not to mention what is going on in cornell with the student, or patrick day, who was arrested
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for posting threats, allegedly posting threats about slitting jewish students' throats at cornell. now, that's a central case that he thousand faces. now faces. >> that's right. liz: how did we get here, and how do you put teeth into your resolution without extinguishing free speech? >> and what we have to be certain is that these students realize when they are saying pro-hamas, they are saying pro-terrorist. this is -- and and it is inconceivable that this soon after 9/11 occurred on u.s. soil that you would have professors in universities, that you would have college campuses allowing this. and, liz, as you well know, the u.s. recognizes hamas as a terrorist organization. that is their official recognition. and the fact that universities would how allow this is just
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unbelievable. it's so disturb fewing. and it's why -- disturbing k. and it's it's why we have a piece of legislation also that would dedeport students who are on visas who are participated in pro-has ma -- hamas rallies. also these college campuses that are allowing this, it would cut their federal funding. that's another piece of legislation senator tim cost ha. and the resolution senator rosen and i passed -- and it was unanimous in the u.s. senate -- liz: excellent. >> -- we did this to send that message to the college campuses that this anti-semitic activity is not going to be tolerated. we are watching. we're paying attention to this. and as i said, the follow-ons for that, senator rubio's deportation legislation, senator scott is' -- scott's defunding legislation, those are steps that the u.s. senate will take --
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liz: right. let's be clear, when you get a student visa to come to this country, that is a gift. >> yes. liz: is and you have to be vetted initially for whether you have espoused terrorist ideas. that's when you're coming in. but it can also be retroactive. if you are here already on a student visa, because ooh i've looked into the law here, and you start saying, yay, hamas, that was innovative, creative of you to slaughter, you know, 1300 israeli and foreign civilians and chop people's heads off, it looks to me like it's in the rulebooks that you could actually deport those students if proven to be true. let me just -- >> that's right. liz: -- circle the square by saying how did we get here and tiktok, i'm not necessarily one of these tiktok bashers, but scott galloway, the professor at myu, said something really interesting on his pivot podcast. he said i think after the initial blast zone of drama that we've seen here, we will find out down the road that it was
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chinese government trying to the use tiktok to divide our people here in the united states. is there any validity that you see to that? >> there is validity to that. we've seen 'em do it before, we've seen them try to do election influencing in this. we see them do societal influencing in this. indeed, many of kids -- i was talking with the tennessee mom, and she said you've got all of these kids that say i'm pro-hamas. and and they're getting it on tiktok. not realizing that hamas, as you said, kills all of these israelis, they've kill americans, they have taken israelis and americans hostage. their e goal is to destroy israel and to destroy america. and you have got to have adults who are going to say, hey, this is what this really means. liz: yeah.
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>> and you need to be careful about. i do think it is helpful that now you have so many companies saying we do not want to hire people who carry these thoughts and who hold these opinions. and i think it's also highlighting the number of terrorists that are coming across the southern border. it all gets looped together, liz, and people are paying attention to it. and you've got these young people that are out here basically chair cheering for the wrong side. liz: it's horrifying but, you know, shame on -- >> it is. liz: -- columbia president and university of pennsylvania, harvard for not understanding what's going on. they're supposed to be the adults in the room. >> that's right. liz: senator blackburn, thank you very much for joining us. >> thank you. liz: and you know, it's not just the idf. with veterans' day coming up this friday here in the united states, u.s. soldiers and sailors in the middle east now in extreme danger as the war between israel and hamas rages
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on. if last night i got the chance to be in the presence of some remarkable veterans. building homes for heroes held its annual fund raising gala at the new york stock exchange. coming up, i want you to see the highlights and introduce you to the latest injured veteran to receive a mortgage-free home thanks to the generosity of donors, and that includes many of you, our viewers. pulte group, one of the biggest sponsors, they played a special role. they and other home builders having a day the in the green today. big moves anywhere from 1% to 3.75%. we're coming right back. ♪
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♪ ♪ liz: all right. dow is up 69, nasdaq up 143, and the s&p is up # 16. veterans' day is friday, but we got an early tart on honoring america's finest soldiers and first responders. ♪ liz: -- emerald society pipes and drums welcomed hundreds to the new york stock exchange including veterans from all over the country for the annual building homes for heros' gala. you guys know this charity is near and dear to my heart. founded after 9/11 by new york businessman andy pujol, we build mortgage-prix homes for the worst wounded soldiers. these homes are fully customized
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to their injuries. for the 11th straight year, i had the honor of emceeing the event, but my favorite part of the evening is getting to see our heroes who can move forward with college educations, starting businesses and, yes, in the case of marine corps sergeant christy ennis who, by the way, nearly died in afghanistan back in 2012 and who was gifted a mortgage-free home in colorado, she went on the become a champion snowboarder and mountain climber. pultegroup ceo ryan marshall was our special honoree, pulte has partnered to ramp up our home gifts. but it was a speech by jerry who in 2005 while serving in iraq was hit by a bomb and engulfed in flames. after 87 surgeries, jerry says the custom home that we gifted him has changed the course of his post-military life. listen. >> i have access the a home where we can roll in from the driveway or from the garage if
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i'm in a second wheelchair, and my balance is never always so good. but now i have the capability to walk into any room of the home, walk into a shower without worrying about falling down and hurting myself. and after my surgeries, i can sleep in my bed next to my wife. liz: i mean, folks, we have now -- starting with one tiny home -- have gifted 343 homes thanks so much to so many of you who have donated. but the need, as you know, goes well beyond that. right now wert at $87,596 towards our latest $100,000 goal. i was sort of doing the math, a little back of the envelope math, if just 625 of you watching right now donated $20 the apiece, we're there. we'll get that ring. all you have to do is go to building homes for heroes.org to doe denate. again, friday is veterans' day, but we'll take the money anytime. thank you so, so much.
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even $5, we will take it for our nation's heroes. it's the least we can do. let's get together to the markets here and, as i said, it's really the nasdaq that is on its eighth straight win which would be the first time we've seen that in two years. let's look at planet fitness. looking fit as a fiddle, we've got shares up 13.33% after the operator of gym and fitness clubs reported better than expected earnings, and they raised their full-year outlook. so there's a back story here because the stock has now made back all of its losses it endured in the wake of longtime ceo chris rondo's ousting in late september. the company's interim see ceo, craig benson, actually made a very bold announcement today. some of you might not like it, but it's time or, he says, planet fitness is exploring raising its classic $10 per-month membership price which they have not changed in 30 years. planet fitness has more than 18.5 million memberships. wireless speaker maker sonos
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getting tuned out by investors, down about # 4.6% after bank of america downgraded the sock to neutral from a buy and cut its price target from 20 per share to 12, we're at $10.78 at the moment. sonos reports next wednesday, november 15th. uber shares, well, we've seen wail a bit of a turn around here. they were lower at the open. they punched up, lost it all, and thousand they are forging ahead by nearly hart 4% despite reporting a miss on the top and bottom line. revenue did grow by 11% year-over-year, the slowest ace since the march 2021 quarter. the company, however, is predicting strong holiday quarter demand. the ceo said that consumer noned on a our platform remains healthy as we enter, quote, the busiest period of the year. and trip advisor surging 12% right how after reporting higher
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third quarter revenue. the online travel platform sales rose 16% year-over-year to the more than half a billion dollars, $533 million to be exact. taye -- taylor swift has added 2024 eras tour dates in vancouver, and tickets will be released on ticket master thursday. but if you can't get them on the first round, there's vivid seats. the secondary market ticketing platform specializes in ticket resales and is now broadens its reach with a major acquisition in sin city. vivid's ceo up next on what that means for etc. rivalry with live nation's ticketmaster. and it is the movie even the late, great kobe bryant said inspired him to reach for heights he attained during his own stellar basketball career. i'm talking about rudy, the iconic film that became an instant classic and emblematic of how underdogs can win.
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it's the true story of the too poor, too skinny, too short kid from illinois who dreamt about attending notre dame and playing football for the fighting irish. it is now celebrating its 30th anniversary, and my brand new end sed of my everyone talks to liz podcast that just dropped today welcomes the real rudy rueuttiger. hear how he conquered his impossible dream, and he gives all kinds of back story stuff you can't know. i've seen the movie 50,000 times, love it. listen wherever you get your podcasts. the real rudy is more inspirational than even the movie. closing bell, 24 minutes away. oh, my goodness, you guys have jumped on to the web site of building homes for heroes.org. we've just added a quick $1400 or so to our $86,000. here we go, we're at $88,000. can we keep it going? i'll take $20, i'll take your change in your couch seats.
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we're travelling all across america, talking to people about their hearts. ooh, take this exit. how's the heart? i feel like it's good. you feel like it's good? how do you know when it's time to check in on your heart? how do you know? let me show you something. it looks like a credit card, but it is the kardiamobile card. that is a medical-grade ekg. want to see how it works? yeah. put both thumbs on there. that is your heart coming from the kardiamobile card. wow! with kardiamobile card, you can take a medical-grade ekg in just 30 seconds, from anywhere. kardiamobile card is proven to detect atrial fibrillation, one of the leading causes of stroke. and it's the only personal ekg that's fda-cleared to detect normal heart rhythm, bradycardia and tachycardia. how much do you think that costs? probably $500. $99. oh, really? you could carry that in your wallet. of course you could carry it in your wallet, right? yes, yes. get a jump on the holidays. kardiamobile card is now just $89. don't wait!
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(vo) while you may not be running an architectural firm, tending hives of honeybees, and mentoring a teenager — your life is just as unique. your raymond james financial advisor gets to know you, your passions, and the way you help others. so you can live your life. that's life well planned. liz: investors are punching their ticket to vivid seats after the live event marketplace took another step to challenge the power of live nation-owned ticketmaster has held in its hands forever. vivid jumping 16% after announcing a $240 million
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acquisition of vegas.com, a one-stop shop for everything cincy has to offer from flights and hotels -- sin city has to offer from flights and hotels to concerts and tours. is vivid seats on us way the compete with the big guys? ceo stan chia joins me live from chicago. nice if stock reaction from this. let's talk about what vegas.com can do for your site. >> yeah, hey, liz,s for having me today. we're really excited about the ability to acquire vegas.com, the leading domain and authority in the vegas market where you can find everything from shows, attractions, tours to tickets. and we think, you know, there's a lot of excitement in the entertainment capital of the world with the inaugural f1 race happening this month, with the super bowl coming next year and lots and lots of great secular trends there. so as we look at that platform and the ability to bring that into the vivid seats ecosystem where we have one of the leading platforms with the only loyalty
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program, with the only free to play gaming product as well as real money daily fantasy, we think the combination of these assets is a really differentiate ised proposition that no one can match to consumers. liz: i can see how this acquisition ramps up your reach, for sure. vegas, especially now with the sphere, that added to all the offerings that are out there, i mean, talk about where the biggest moneymakers are. and please feel free to weigh in on sports because you've got the raiders, you've got the vegas hockey team there, the golden knights. not to mention that i hoe you guys just struck a deal with the nhl. >> yeah. look, i think vegas is a market, again, on fire. so many great things happening there, as you mentioned. the sphere, u2 with their residency and certainly, i'm sure, many more really exciting and game-changing residencies to come. i think there's a lot of stuff on the precipice on the sports side. you talk about the raiders, the super bowl that's going to be there, lots of rumors of maybe baseball come manager and the knights having a fantastic hockey team.
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i think all of that through the combined offerings we'll be able to bring to consumers via the vegas.com platform and their strategic partners as well as the vegas -- vivid seats platform, our first por ray into hockey and the nhl with a relationship with -- partnership with the l.a. kings, we're excited to be able to bring the massive selection that the two platforms will be safer -- offer to the consumers. liz: that's my team, the los angeles kings. you've distinguished yourself from the others because you have so many offerings, plus americans love loyalty programs. forget just americans. but it's the hidden fees and the extra stuff that's been jammed into a lot of ticket pricing that got to the point especially during the taylor swift insanity where ticketmaster completely blew that, that it went as far as congress. congress grilled these people about what they were doing, why their monopolistic behavior, you know, that's their words, certainly, has really not made
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it a great experience for people who want to the buy tickets to these types of shows. how do you insure, stan, that the you guys don't become that way? >> yeah, look, i think we have always and always will be focused on creating value for users of our platform. in the case of the fan as you look at the things that we've invested, it starts first and foremost with customer service, and we were proud again to be recognized by "newsweek" this year as a best customer service in ticketing which we've been awarded many times before. in addition to that, when you think about fees, look, we've got a loyalty program that's out there. so really simple buy ten tickets, get one free, almost something like a 10% value as you return to the platform. i say, look, when you look at fees, you know what you're getting at vivid seat. we're transparent about that, and we actually take that fee and reinvest it into value for the fan via the loyalty reward, via great partnerships. we talk about the kings today,
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liz, ask one of the things we've been driving is incremental experiential value through our partnerships. so with the kings as a loyalty member, we can headache sure you are guaranteed on the jumbotron, so guaranteed jumbotron in addition to buy ten, get one ticket free and the best customer service in ticketing. and we feel really confident about our commitment to continue to deliver value and deliver it transpaster city to all -- transparency to all customers. liz: great to see you, stan. we'd be remiss if we didn't mention you beat on revenues for the third quarter, or you've raised guidance, and we'll be waiting to see what else happened with -- happens with vivid seats. thanks so much. >> thank, liz. liz: when a major accounting firm sneezes, does the rest of corporate america catch the flu? how corporate layoffs at one firm, big layoffs, could be the canary in the coal mine recession signal. charlie breaks it next. with the closing bell 12 minutes
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away, look at this, already you guys have joined "the claman countdown" army. we're at $91,112. we're trying to get to $100,000, so 30 of you now jumped in. if we can hit our 1 100% mark by the the end of closing bell, it's 12 minutes away, oh, man. we don't want to get too ambitious. or do we? come on, that hero on the screen is sergeant joel tibera, he's not feeling very well, so we want to send him the best wishes of all and and built him a home and then he got multiple college degrees once he could relax. we're coming right back. dow is now up 92 points. ♪ ♪ i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this.
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♪. liz: grant thornton laying off 200 employees after the accounting and consulting firm already cut 300 from its payroll earlier this year. with sources telling charlie gasparino this is actually just the beginning. what does that mean for other firms? >> liz, 600 people from a firm with, in the u.s. i think grant thornton has 8,000 people, something like a 6% cut. by the way they done this not in like, this is like this is over
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the last six months. like something is heating up here. what my sources are telling me across wall street grant thornton is a consulting accounting firm. so it feeds off corporate america as wall street does providing professional services there is a sense of foreboding that the economy is slowing, okay? so that is what this really means. you will see this from other firms. citigroup, there is a bunch of stories, a story said they're doing something operation bora bora, whatever that means. liz: yes. >> i heard it wasn't as dramatic as that. they're looking to cut layers of bureaucracy. every place that has bureaucracy is cutting now because they're really worried about next year us going into recession in the u.s. economy. why is that? well the fed will city higher longer. they may raise rates one more time. larry fink on blackrock was on this show predicting at least one more rate cut. he actually says he believes
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that. if you put all of that together. liz: rate hike you mean. >> i'm sorry. not a cut, definitely not a cut, a rate hike. putting all that together there will be compression on wall street, compression of reprofessional services and recession does that again, you can do that, it is one instance, i don't write stories because of one instance. there has to be something bigger from what i understand this is bigger than just them. it is going to be others, other accounting firms are cutting as well we should point out. pricewaterhousecoopers did some cuts and a few others. again it's the economy, stupid, that is what this is all about. liz: this leads the question, they're anticipating this and yet we just had gdp at 4.9%. >> a lot of people say that was an outlyer. there were a lot of factors in there, it's a one-time, we'll see. liz: okay. >> you know one -- this is what i don't get, and again comes down to a political question.
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i'm not taking a political side. president biden scores so low on economic issues yet gdp is at 5%. liz: yeah. >> it is the weirdest thing. liz: prices. high prices. >> inflation, a lot of stuff going on and maybe that number has got some fluff in it too. liz: thank you very much. charlie gasparino. >> did you notice my tan? liz: no i was too busy noticing you haven't donating to building home for heroes.org. >> you say.did theorg? liz: that is great what you guys do. liz: charlie, thanks, getted credit card out. let's look at "building homes for heroes" scoreboard. where were we started when? 86,000. up to 94,000. give a couple bucks buildinghomesforheroes.org, a
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big honking picture of me. look at heroes to see where your money is going. i really appreciate it. cloud security companies doing very well, at the top we saw. datadog is seeing a big percentage gain on the pace for highest close since august 7th. you're "countdown" closer says when you have so many choices in the cloud sector she has her eye on one, may lead to absolutely stratospheric gains. joining me, chief operating officer, chief investment strategist, eva ados. which one is it? don't keep us in suspense. >> our portfolio is heavily weighted in cybersecurity we're aware many investors out there are also concerned about the middle earn tensions.
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our two picks are regeneral rohn and eva. we like regeneron, biotech company, was a famous name during covid that has been a great solid company during the last decade. they were able in inflationary market, drop the costs increase the gross margin. as a result these widened their ebitda margin by 4%. that is a great example of a company able to survive inflationary pressures. we're also looking at their ilea medicine which is specifically important for diabetic patients who might lose their vision. that is a 16 billion-dollar market. that's why we think it is a great stock pick. the next stock pick is veeva. that is health pick company. that is great example of a company that able to double their revenues and triple research and development. the founder reinvested money back into the company through r&d to grow, to further their
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growth which is excellent in this market and it is also important that their net income margin is the highest in their sector. it is up 24% positive, 24% compared to negative 27% for their peers. unique example of a company with no bank debt. no interest expenses. so that's a great stock pick too. liz: eva ados thank you for your ideas. microsoft on track for a record close and here we go. the bells ring. we have a gain for the dow, s&p, nasdaq makes it eight in a row. [closing bell rings] building home for heros.org thank you very much. i hope there are more of out there. ceo -- ♪. larry: hello, folks, welcome to "kudlow," i'm larry kudlow. all right the israeli war against th
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