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tv   The Claman Countdown  FOX Business  January 29, 2024 3:00pm-4:00pm EST

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we have lost faith and confidence in all the major institutions in this nation, rightfully so we should never lose faith in the nation itself. we should never lose faith in yourself, what you can do to change all of us. it's within your power and that's what i'm worried about people are giving it away and being different about it and it doesn't matter, it does matter. it really does matter we talked on the show about buying the stock market at all-time highs, you think you missed it and it's another all-time high and another all-time high and another. that's the way life can be, that's what i love the stock market in so many ways it bounces back and we all have the ability. if you're having trouble with it, google the partridge family and listen to the theme song, get happy, i know liz claman knows what i'm talking about. ♪ who didn't have a crush on sean cassidy.
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charles: i did not. liz: thank you very much. charles payne. markets headed for another record breaker to kick off the week, look at the dow jones industrial up 58 points, any gain will do it on pace for a third straight record close. s&p is also on track for a record finish. for its part the s&p must gain a little more than three points at the close to make it official. right now 16 we have the nasdaq up 104 points, two thirds of the present, russell 16 points that's just under 1%, not a huge move for any of the embassies, maybe that is because we're looking at massive market drivers still ahead this week. number one has to be the federal reserve that kicks off tomorrow with the announcement and live news conference wednesday where fed chair jay powell rolls through the reporter ringer, no interest-rate cut expected this time around at least at the
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moment and not in march, look at trader bets for may were pulling up the latest fed funds futures numbers showing an 87-point to percent probability that the fed will slice off a bit of the overnight benchmark rate which stands at five and a quarter to five and half percent. as investors wait for wednesday in the messaging they are also waiting for five of the magnificent seven to report quarterly earnings this week, microsoft and meta hitting records today right now microsoft is just below $409 a share that hit earlier today and we have meta at $402 a share. again i record all time. amazon in the green as it walks away from the i robot acquisition. where to get more on that later and then apple down a third of 8%, that ahead of the vision pro friday, the vision pro friday apples much-anticipated vr
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headsets will land on the doorsteps of those who preordered. apple has not release the order numbers yet but perhaps it's betting that the apps that are ready and waiting for buyers to download including an imax app will soften the blow of the 3499-dollar price tag, coming up with the fox business exclusive imax ceo rich gelfond joins us on his pro partnership in the lee p took with oppenheimer paying off big time at the box office and now with oscar nominations. two dow components, chevron and boeing, the dow jones industrial has gained 12% year-over-year. chevron has lost 16% and bowing down 3% over the same time. , year to date with the 737 max nine jet troubles boeing has tanked 21%, 21% year to date.
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a blue sky earnings report let's talk about good stuff already out today it's raining rainbows, look at sophia shares they are popping 19% right now in the final hour of trade after fintech's one to the first ever profit in the third quarter while revenue and members jumped, how did they do it and can they fulfill the big promises the ceo is now making. you get to decide that ceo anthony noto is about to make his pitch in a few minutes when he joins us live. so fly, that is a banking site with the younger set, the stock has spiked 28% over the past year. we just mention the tip of the earnings fear, let's get a little bit deeper, starbucks, general motors, a&e, novo nordisk, mastercard, merck, exxon mobil and so many more names open their books as well, with investors tightly coiled ahead of so much potential market news and pushing the dow
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and s&p to record highs, let's get to the floor show joining me said tara jean goldman and henriette and walsh kevin mahn. jean i will start with which one of these things we just laid out do you think is the biggest potential to move the markets even higher or lower? >> thank you for having us on your show. the big thing is fomc on wednesday it'll be huge in a sense for new voting members, boz tech, master, bargain, daily they are hawkish and will put hawkish into their meeting. the fed is not going to cut standpoint. more importantly jay powell, the press conference he is a very tight rope, inflation is rolling over and come down below the fed expectation for year end of 2.4% the economy is resilient but at
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the same time he's going to say were to be very data dependent he could not say we're going to cut rates sooner than you expect market because we could create another asset bubble under bubble watch the meeting on wednesday. liz: i'm sure you definitely agree that the fed matters this much, it does. it has the biggest muscle to move the market and yet i have to stress anybody waiting for six interest-rate cuts hugely disappointed, even goldman sachs is saying three cuts this year. >> i think the real test for the federal reserve comes during the first half of 2024. 2023 we saw the economy grow and inflation to moderate. the fed is forecasting the economy to slow to 1.4% this year and stay below a 2% growth all the way through the end of 2026 but they need to see a couple of consecutive quarters of the slowing economy, slowing even more so than the fourth quarter before they cut interest rates. liz: the markets are not waiting
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for anything. you have the dow up 106-point, the s&p gaining as well and all it needs is three points here we are s&p up 22 points at the moment we are climbing and climbing. i'm just wondering do you catch the tail of the tiger or do you kind of step back and say let's broaden the aperture of choices when it comes to picking stocks. >> excellent point. in our opinion the fed will cut rates and i agree with kevin, three break cut but much less than the market expects, and environment with the fed cutting rates in the economy resilient, what you do were calling it a recovery bull market in 2024, recovery because economy is going from mild recession that we might've seen last year into a nice recovery in that perspective by value, by small-cap, mid-cap, huge opportunities and as the fed cuts rates relative to the ecb
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the dollar could weaken in opportunities to buy outside of the u.s. in a currency transaction standpoint great opportunities in 2024. liz: you sound like a blind dog at a meeting house. kevin you are very specific and focused what do you like your. >> away from playing the fed guessing game, one area we like in 2024 is in healthcare notably biotech the trifecta of drug price patent expiration it we believe is going to force big pharma to have to be more acquisitive pw feet is forecasting 225 to 275 billion of m&a activity they were the second most on record. liz: you are not buying big pharma you're buying ones that big pharma by immuno care and bio for, why these two? >> both on the cutting edge. immuno core t cell immunotherapies to target cancer, teaching the body to
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fight off cancer as opposed to injecting it with chemicals and toxin and how about.bio pharma, their developing opportunities to deliver radiation at targeted levels to attack the cancer and leave the healthy cells alone. we think big cat pharma has very inquisitive names. liz: when they start sniffing around and those names might be mentioned as my reports say the stock goes up, this is an arbitrage. >> is an opportunistic m&a portfolio look at those with fda level two or three approval status letter in the field such as oncology or immunotherapy. liz: you like healthcare but also the financials, we have sophia coming out but we know that j.p. morgan has record profits and i just wonder, everybody loves j.p. morgan that maybe it's time to go for a side window type of tree. >> we still like the large-cap and i agree with kevin, healthcare is our third favorite sector but financials think
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about this reserves that the big banks, the economy is resilient 3.3% gdp those are good be ratcheted down but we have markets opening up, the ipos in more debt issuance so we like financials and industrials another amazing value sector, industrial defense spending and agriculture spending and we think it's an environment that we want to be in industrial, financials and healthcare. liz: defense is a very serious topic, obviously we have a situation in jordan where the houthis rebels killed three u.s. service people, horrible situation to get we will go to live in washington, d.c. to get the very latest, that makes you wonder about black swans. they are saying we don't want to have a war but if you can hold people accountable, what is the question that is a black swan, could it not be. >> there could be more volatility have weather because the presidential election race or the geopolitical risks overseas, i think investors
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would be wise to take a little off the table and be more defensive leaning to value names but once the fed carts interest rates for the second half of the year that opens up opportunities in stocks and bonds. you don't want to stay on the sidelines. liz: always a pleasure, thank you both very, very much. up next fintech within a billion-dollar market cap. in the grand scheme of things that's relatively small. they say they're getting ready to play with banking's big boys, sophia has gained dramatic numbers over the past year, 53% ceo anthony noto is here live as his company crosses a major milestone in his quarterly report with the dow jones industrials including three of the big banks sophia wants to be. moving up 127 points at the moment. "the claman countdown" is just getting started. our engines are starting to roar, stay here. we'll be back in a minute.
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liz: you want to see a rocketship look at sophia shares, 19 did a half% the favorite financial services company is having the best day in 18 months after reporting the first profitable quarter in company history putting the fintech one step closer to the goal of cracking the top ten global financial institution club, sophia reported the double beat, non- gap eps of 2 cents a share wall street was looking to breakeven on revenue of $594.25, 594 million, not dollars, million dollars, the expectation was 572 million, strong lending drove a large part of sophia
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success but ceo anthony noto said this could be a year of transition as it focuses on growing segments outside of lending to reach the lofty goal, can he do it without sacrificing profits. sophia ceo anthony noto joins us live. congratulations on your first-ever profit, i applaud you for your ambition, growing segments require spending money doesn't not where do you want to grow and how much of a spender you prepared to make. >> most of that is behind us, we spent the last six years tilting out financial services products i sofi checking and savings which we call sofi money, sofi credit card and sofi invest today we launched asset classes on sofi invest in addition to ipos and robo as well as etf's in single stocks. over the last six years we diversified outside of lending, on this quarter 40% of our
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revenue w was from technology platform services as well as financial services taken together in 60% was from lending. for the forecast for 2024 we shared the business to 50% lending and 50% technology platform services enter financial services and is a culmination of a big investment that we made over the last six years from driving gap profitability of this quarter and driving $340 million of casual book value growth this year we expect both to continue and 24 now that we have a diversified business in the financial services profitable and we can invest more to grow it faster were looking about 75% growth in that business next year. liz: the capital expenditure needed for the technology platform innovations has already been spent? but this stuff is growing at the speed of thought enough to get about a.i. applications a lot of
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financials are using a.i., you guys are too, tell me what cash pile you anticipate needing for any future growth this year. >> we are generating organic cash flow to fund the business, now that we have achieved gap profitability will be able to reinvest in the business and not have to go deficit spending as we did to get the this point scale it took us a six years to get to $2.1 billion of revenue this year end to generate the book value of $344 million were looking from 300 - 500000000 next year so the investment were making is a return for the first time and that's why the quarter was a monumental milestone of getting the positive gap profitability, it should continue even though we will invest heavily, be specific in the fourth quarter we achieve the long-term ebit margin of 34% not translated to the tangible book value growth and we expect the margins in 24 to still be 20
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to 30% starting at 20 and ending the year 30 as we did this year. liz: this time a year ago nobody was thinking about our regional bank crisis, black swans we were just talking about it with kevin and jean are floor show traders and they do, but nobody's ready for them have you modeled to stay profitable even if there is some type of an event. >> we've had an amazing year to deposit we added more than $11 billion of deposits this year this quarter $3 billion of deposits in their superhigh quality 90% of our deposits come from direct deposit customers in more than 95% of our deposits are insured, those are two important metrics to show the stability of the deposit and the stickiness of the customers that is translating to really high levels of debit spending $1.6 billion a debit point of sale in the quarter which is up
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three from a year ago, we created a unique value proposition, 4.6% interest on our checking and savings, no fees, today early paycheck and the ability to posit from your mobile phone and the ability to pay a friend register e-mail or phone number and to do bill pay, in addition to that we give your free certified financial planner. that allowed us to drive primary account ownership with our members and driven great quality deposits which is helping us fund our loans at a much lower cost. the whole strategy has come together on the back of launching the money product in a much more aggressive way over the last two years. liz: i was literally going to ask you make the pitch to a wells fargo client who is watching right now or a chase client or a city client like myself. these are sticky business models to change over to sofi read you kind of just did that. thank you. >> you're welcome. were really priest with the progress that we've made and not
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just about checking and savings we want to build a lifetime relationship to be there for your financial decisions and all the days in between. that's why we help people borrow better through four different types of loans including home loans and student loans and personal loans in addition to credit card and i mentioned her so fight product and we provide insurance through partnerships. in addition to that we have a product called sofi relay which allows us to do technology analysis of how you spend and how to save more money and create disposable income they can invest in your 20s and get the benefit of four decades of compound. liz: i think you had a lot of people at 4% interest on the checking accounts that's not something a lot of others offer. good to see you, thank you so much. >> thank you for having me. liz: the stock up 20.5% while he was talking on "the claman countdown". we're learning more at this hour about the american soldiers killed in a drone attack in jordan as a commander-in-chief
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right now weighs an appropriate response. forget it take you straight to the white house life for up-to-the-minute details on the breaking of elements. you would think we would see the energy complex run higher on worries of the conflict might be expanding, not what we are seeing right now in the aftermarket, crude oil down one and a third%, wholesale gasoline trading down 2.7% and natural gas down 5.5%.r. we're coming right back, stayav intuned. ♪ voya helps you choose the right amounts without over or under investing. so you can feel confident in your financial choices. voya, well planned, well invested, well protected.
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liz: fox business alert we want to put up the dow winners at the top of the show we were up 62 for the dow and now gaining 220, what is driving it if you look at crm sales force and visa both hitting 52 week highs i believe are salesforce it's a two-year high, walt disney jump into percent, caterpillar up 1.5%, cat reports this week, microsoft hitting an all-time high up one in the third%, big moves were down names that are dramatically lifting in the last eight minutes, the dow jones industrial. breaking moments ago the pity god has revealed the names of the three american soldiers killed in a drone strike sunday in jordan they were from an army reserve unit based in fort worth were joe. the department of defense and
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the soldiers killed in the tower 22 attack were william jerome rivers 46 years old, specialist canedy sanders 24 years old and specialist brianna alexandria moffat, 23 years old. the pentagon said the number of troops injured now tops 40. the dod says this attack has the footprints of hezbollah which is funded by iran the first u.s. facilities after months of attacks by terror groups on american forces in the middle east since the israel hamas war began on october 7, now the white house has to decide what to do, let's go live to the white house. high-stakes just got higher. >> u.s. officials confirming that the reason the drone got through because it was mistaken for a u.s. drone that was supposed to come back at the same time. the fact is three american military members are now dead and you have more than 40 people
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that were injured related to this. president biden has met with his national security team two times today already in the situation room to decide how to respond. >> we will respond we will do that on our schedule and our time and we will do it in a manner of the presidents choosing as commander-in-chief. we will also do it fully cognizant of the fact that these groups backed by tehran had just taken the lives of american troops. >> critics say the slow walking of responses have given iranian proxies the courage to keep attacking. iranian backed forces attacked u.s. positions 165 times since october 17, the former deputy national security adviser kt mcfarland says president biden needs to be strong in his response right now. >> attacked the proxy facilities in all those countries especially in yemen but don't
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degrade them 20 or 30%, lemonade them and take them out and degrade them 90%. at the same time use economic weapons that we have at our disposal start enforcing the oil sanctions don't let iran so oil to the world pump american oil and natural gas, drive the price of oil down bankrupt iran. right now the price of oil jumped a little bit at the end of last week it was mid to low 70s range, now if you look at wti oil in the upper 70s were brent oil is over $80 a barrel. liz: we are watching it closely it is strange counterfactual that we would see it moving down. we will continue to watch it. thank you very much. we have a fox business alert i robot off the lows on the final hour after being left at the altar by amazon, shares of the company behind the rumba vacuum cleaner dive into the 14 year low of about $13.80, it is still
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down 9% but it's at $15.43, this after the tech giant amazon terminated the $1.7 billion acquisition of i robot, both sides agreed with the eu and the u.s. regulators expressing disapproval of the deal, there was no real path forward, amazon doesn't just get to stroll away it'll have to pay i robot a $94 million breakup fee, in the meantime i robot announced the launch of a restructuring plan that includes eliminating 350 jobs and one of the people leaving their job is the ceo colin ingle who will step down. online sports betting entertainment making its debut on the new york stock exchange today. shares of the fandual parent began trading as a secondary listing under f lut and are trading right now up 8% off the highs of the session but not too
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bad. flutters primary listing is on the london stock exchange were an ipo back in 2019 but the company ceo peter jackson said he's ready to bite into the big apple all the way by moving flutters primary listing. fandual spokesman rob kicked the flatter hike into high gear and head of his highly anticipated vandal density to at the super bowl . they talked smack on "the claman countdown". listen. >> i have been practicing plenty of times i got five practices under my belt and i have another practice tomorrow now i have a redemption kick i wouldn't be here sitting again practicing for the kick of destiny to if i made it. now i'm proud that i missed the kick so i have a second opportunity and i'll put it through the upper right this time so everyone out there. liz: did you see his huge paws. if you do bet on a rock and he
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makes it you get to win a share of the $10 million in bonus but. last year he missed the kick but he says he's been practicing and hit a 40 yards field goal last year but this is good to be light before the super bowl . rival draftkings putting points on the board themselves gaining about three and a quarter% right now. near 52 week high, warner bros. discovery total opposite story it's going lower after wells fargo credit rating from overweight to equal weight, the stock is down 2% to $10.41 wells also shot the price target from 16 -ows they do not see a real positive path at the moment for warner bros. to somehow sore, the bank says warner bros. has the lowest amount of sports rights compared to its competitors and also suffering from port cutting and
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lower ratings. one company is peering into the future as apple rolls out the vision pro headsets imax may be known for the high-end cameras and big-screen theaters but now it's teaming up with the tech titan rich gal thought in a fox business exclusive to tell us about the apple matchup and if he sees a new film this year that could rival oscar oppenheimer that did brilliant at the imax box office. enough movies have been made about the o.j. simpson murder trial every one of them features a character built on the guy next to him, robert schapiro the criminal defense attorney but in a hollywood type of twist no one knows that schapiro had no intention of becoming a lawyer he was well on his way to a degree in finance and the life in the world of banking until a war in a far-off land totally altered his course it is a story he said he never told before in a personal way but is telling it
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now in my brand-new episode of everyone talks to liz podcast. here how his unexpected career shift propelled him to the top of the legal world and the loss that pulled him in the way from the courtroom. he is controversial i know a lot of you don't like him but you must take the time to listen to the story on apple, google, spotify, amazon wherever you download your podcasts. we're coming right back the dow is up to a point, the laggard, verizon, walgreen, american express, ibm, chevron and boeing. ♪ dad, we got this. we got this. we got this. we got this. we got this.
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liz: apple customers eager to get their hands on the vision pro headset have four more days to wait, the vision pro has the
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ability to seamlessly blend reality with virtual technology and apparently when you put it on your remote controls are your hands and your eyes for a lofty $3490 price tag it's kind of unclear whether apple can see mass orders they have not released numbers but their dangling apps in front of the world to the were buyers. imax is one that could potentially move the needle the entertainment technology company behind massive movie screens has partnered with apple vision pro to create an app where users can experience imax documentaries with an enhanced aspect ratio so they can bring the totally immersive theater experience into their homes imax ceo rich gelfond is here to talk about the oppenheimer and the cameras got. let's start with the apple pro, why the sponsorship. >> imax is known for the highest quality experiences available
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and when my team saw the vision pro they were freaked out and you probably heard that from other people. it is not just good it is spectacular and they wanted us to show off what a theatrical experience would look like in that world and i think we just thought it would show was often a phenomenal way intercourse we do apple movies in a matter of fact i'm losing my mind but were opening an apple movie this weekend. liz: is starts with the name, you know it and we did napoleon. we have done a lot of things with apple we like them a lot. when they asked us to get involved we said why not, building a bigger relationship with them is a really good th thing. liz: don't you see at home entertainment technology as a threat to peoppeople going to te movie theater to an imax theater and paying to watch a movie there. >> i don't imax is six stories high and up to 100 feet wide it
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can be as big as a boeing 737. i don't think ever been in the environment by yourself is really going to be a substitute for that. i think there are new things we will try over time. for example we talked to several different studios about maybe doing a ten minute trailer in the vision pro that could promote going to the imax experience, as you know i hear it on your show you have to let technology take its course and you have to see where it goes into it early and this is the first one so i would think over time the price would go down in the features would get more. so the opportunity to co-brand with someone like apple is so compelling and made a lot of sense. liz: you cannot fight evolution especially technology obviously are catching a bit of that wave. will it just be documentaries or can you actually view oppenheimer in your house. >> for an hour just started with a few documentaries but over
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time i'm sure you'll be able to see regular movies. like i said to the be a great promotional tool as well because if you are a consumer and you can see ten minutes of the next big blockbuster hit as if you're sitting in an imax theater by yourself i think that's a good way to promote things as well. liz: i'm a huge freddie mercury and queens fan. you just ran a concert from the 1980s in montréal and 400 screens and it broke the record for the exclusivity showings that you usually have. you could redo it and rerun it and will that be the kind of thing. i would imagine you want to sit in your house and experience a queen concert in that very format. >> it is quite incredible. i'm old enough where i saw freddie mercury and queen. it's hard to remember back then but in a way this was better.
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we use new technology and have to enhance the 40-year-old movie and we made the sound definitely sound better than it sounded at the time it was made in the blacks were so black, seen freddie mercury's face on the microphone, life is complicated you have good days and bad days and i said to my team last week that it pumped me up to see that because it showed everything the imax is and how you can see things and i felt like i went into a time machine it was so amazing and i was going to say the first part of this year is a little light on hollywood films so we tried to put in other inspiring experiences so in the last week we did andre 3000 and we did a promotional screening for june 2 was 90% of capacity and you'll see a lot more of that. liz: you talk about things going
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back in history, oppenheimer historic about the atomic bomb, the most of all the oscars a nomination that shot an imax camera, can we spin it forward to this year is there anything shaping up whether the new deadpool movie or the new dune movie where you can anticipate that it might be as big of a box office hit. >> i think dune two will be a big box office hit and we are to put tickets on sale it opens up march 1 and were at a really high percentage of the presales and the very strong they just went on sale a week ago or something like that and it dune one we did 20% of the opening box office weekend, that one he shot with half of the movie with imax cameras. this time he shot the whole movie and in fact were following a little bit of the oppenheimer
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playbook and releasing 12 theaters in film dune two. we have really high expectations for that. i think it will meet them based on the early presales. you mentioned deadpool also i am really excited about deadpool, ryan reynolds is amazing, he is hilarious. liz: lady gaga? >> she is an joker to. >> you usually ask me a predictive question and if you ask me the biggest surprise of the year i would say that's going to be joker this year, she is amazing and obviously joaquin phoenix is amazing. >> they both can sing and they both will sing in this movie. >> it's what you hear, it's what you know. you're the guy in hollywood. rich gelfond ceo of imax. beware of the all-time highs, $285 billion countdown closer tells us what you should be
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♪. liz: so if you look at an intraday of paramount global you can see it is well off the lows of the session at this hour as the future of the media giant hangs in the balance while david ellison's skydance is deep in negotiations for sherry road stone, is it david ellison or keith? >> flip a coin. liz: no. >> larry. hairy, jr.? [laughter] i know larry better than keith or david. liz: anyone, anyone? here's the deal, shari redstone hoe has -- >> sherry or shari. liz: has a two billion dollar sec in paramount is up for putting this on the market. bankers close to the deal not so convinced yet. charlie, take this hot mess out of my hands. >> we should point out that the jumped on our, my tweet around threeish, you can look it up, that there are serious moving in
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the direction of a sale. liz: it is david. you told me it was keith in the commercial break. >> who is keith ellison? i know that name from somewhere. is he a scientist. liz: thing in your mind. >> larry, jr. in any event this thing popped on my tweet, deal progress, moving forward, serious. i would say this, be very careful about arbitraging this deal postively, betting this thing could happen. if you read the whole tweet, which i don't know people did, bankers that are involved in it with first-hand knowledge of this are telling me it is still wickedly close negotiations and a wickedly complex deal. here is what is on the table right now. it may change. skydance buys shari redstone's stake in national amusements which is the holding company of paramount. that stake is worth on the high-end as we've said on the show, something like two billion dollars, give or take, whatever.
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she then hands that company, the controlling, control of paramount, mtv, cbs, you know what, to ellison's skydance. it is a wickedly complex deal because the shareholders of paramount, the people that you know, buy, the stock that you're seeing, not, not the class a, not the, i guess called the class a controlling share that sherry has, it is a dual class stock, they don't do that well in this deal. i don't think they do great at all. they may do well eventually when keith ellison brings it together to sell pieces of it, that redowns back to the general shareholder but this deal in of itself is not so shareholder friendly. buffett is in this. mario ga little sy in paramount. liz: yes, loves it forever, all the way down. >> are they not going to sue? they may sue on this deal. there may be shareholder
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lawsuits because this is not a shareholder friendly deal at least on its face, up front. so again i'm, everybody likes moving a stock that is it couple hundred million we -- liz: three in that picture. >> oh, that's nasty. that's fine, fox business does that all the time, especially here on "the claman countdown," that said, be wear of getting suckered into this arbitrage play you're before thing it will happen. i don't think it is freight for the shareholders, neither does any banker i talked to. buffett says he won't make any money on it. you buy, changes of control, essentially what this is, her control is being shifted to ellison via her stake in national amusements which is the holding company of paramount. liz: if i'm a shareholder of paramount, that is food for you, but not for me. >> good for the class a
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shareholders which is mainly shari and her family. not good for the people on the screen. that is where we are right now. be very careful arbitraging this thing. i'm here to tell you what's happening, often not what is going to happen. i have no idea what is going to happen yet. liz: tell keith i said hi. >> or larry, jr. is it cherry or shari? liz: i need to get to a guy who absolutely knows every detail where he is investing. closing bell, 2 1/2 minutes away, 3 1/2 minutes away. we're on record close watch. dow close to intraday highs. dow up 200 point, s&p up 34. firmly to close in record territory, both of them for the 6th time this year. our countydown closer says be wear of all-time highs and put your money where there is room to run. joining he $285 billion in assets under management, peter laluke.
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do the all-time highs make you wary or excited? >> what makes me laugh, that conversation you had. hopefully they get it sorted out. i'm never concerned about an all-time high, everyone saw all-time high, should they pull back, should they pull back. if you look back the has two years, liz, literally nothing burger. literally nothing has happened for two years on most asset classes, strip out big tech, seven to 10 names that is the abnormal part. what is normal for major indices to hit all-time highs for 19 or 20 days. that is very, very normal but to your question about where there is room to move. definitely more room to move with mid-cap, small cap, than large cap u.s. with all the technological advances in a.i. owned by the big tech companies there is still room to move there i'm bullish across the board but where there is a gap to close,
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it is small and mid-cap. >> look at small mid-cap etf that you like here, you have abercrombie & fitch, boise cascade. these are legit, solid companies that haven't yet totally participated in what we see on the screen right now, peter. dow is now up 221 points and climbing toe record highs of all time. and so, you don't want to fight the tape, do you? >> i'm good riding it. i would not fight it but if you're allocating new dollars and looking for value and upside we're adding new money to smaller companies. liz: peter malouch, always good to have you. thank you, gang. [closing bell rings] liz: another record high for the dow. another for the s&p. third straight record close for the dow, sixth for the dow and s&p this year. stay tuned. "kudlow" is next. ♪. larry: hello, folks, welcome to "kudlow," i'm larr

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