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tv   The Claman Countdown  FOX Business  March 1, 2024 3:00pm-4:00pm EST

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cheap cost. and we're not looking at a good spot for that a either right now. charles: all right. i've got 30 seconds. what about the role of us a aer thety? [laughter] >> i just laugh for 30 seconds? we have a government who's so not interested in austerity at all. they've talked about containing inflation while at the same time they've put their boot to the gas to spend as much money as a they could. i know we use the term they pend like drunken sailors too frequently, but i can't think of a better one. if someone has, please dm it to me. they're creating inflation at the same time the fed trying to fight. i actually feel sorry for the fed because of the position they're in right now. charles: you know what? i agree. the fed has a terrible, terrible task in front of it. i don't know how they can do it. jim, thank you so much, my friend. have a great weekend. >> thanks, charles. liz: did you say austerity? i heard posterity, future generations.
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charles: we are trying to gas charity for future generations. liz: have a good weekend. march madness as we kick off the final hour of trade in the first day of a new month. we are not talking the s&p and nasdaq at new record highs. any gain at the close for either of the majors will seal the deal. the s&p higher by 41 points, the nasdaq gaining 200, dow jones industrials up 77. where are we seeing madness? it is one of the biggest laggards as we pick up a final hour of trade. major headlines swirling around boeing. look at the intraday chart and cratering in the stock that happened at 10:509 am eastern time. that's when a wall street journal report hit the tape that boeing is in talks to
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purchase spirit aerosystems, opposite chart here, shares immediately responded, spiking as high as, let's see, 200? the high of the session, spirit aerosystems, significant gain, $33.99. spirit's market, $3.7 billion. it used to be part of boeing but was spun off in 2005. it is the company that is behind the door plug that they installed but it is really boeing that installed it. a little march madness churning up with sweet green shares. that the 23 year, touching a 14 month high coming up with solid
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quarterly reports. "the claman countdown," two stocks having a great session. let's hear what will drive them higher from those company leaders. we need to get you breaking news, shortly after the open, shares came down so dramatically they had to be halted to, $3.61, record low founded in 1859. shares had been under pressure, serious pressure when it posted a surprise fourth-quarter loss. news came out, the lender found material weaknesses in internal controls related to its loan review. that finding forced the bank to revise its quarterly last we 10 times higher worse than it stated. the ceo has been removed but fallout swapping much of the
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regional bank sector. if you look at these names they are all in the red. let's count on this developing story, any contagion on the markets, we saw that the year ago. where bush's banking analyst, underperform new york community bank and $3.50, let's inform our viewers, we did send "the claman countdown" team to one of the branches. in the past two days rebranded as flag star. if you own flag star, name change is a good thing, the stock lower than the 12 month price target on the disaster scale aware are you putting
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this one. >> it was a perfect storm at the end of january. in the balance sheet, it was hit pretty hard and comes down to credit quality for community bank, they are multifamily exposure new york, the highest of coverage but that's where the stress lies here. the news related to the internal controls, that was a big surprise out there. the other announcement that came out this morning, they hired a new chief risk are purser of the prior what left earlier in the year in january. the key development that this could lead to is will the bank need to set aside additional reserves to cover potential losses and regulate multifamily portfolio, we have to see what the chief risk officer ends up doing.
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it's a bad situation. liz: this is a 2. $6 billion market company now. it used to be a lot bigger. they have to take a 2. $4 billion charge. can it survive? >> i do think that it can survive. best case, it does survive. the key thing that is outstanding is wondering how much of their deposits have stuck around versus leaving. when you see a bank stock come under a lot of stress, you might want to take money elsewhere. and it is completely fine but above that level. it is appropriate, the base case, the company does survive.
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the underperforming rating, the risk is higher than any other banking coverage so if there were to be a bank that face struggles are going to receivership. liz: it has exposure to commercial real estate, one of the real problem spots but this is where it comes to fruition because many regional banks have commercial real estate loan losses on their books. it really surprised investors in january, losses worse than we thought. our exposure for commercial real estate coverings, and any flashing red signals. under certain names?
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>> absolutely looking at other banks but this risk of exposure for community bank does seem to be idiosyncratic from the standpoint of regulating multifamily buildings facing significant stress, then that. the multifamily brokers, to buy and sell these buildings along with clients, evaluations are down 50%. we are talking just as bad. most of our coverage does not have anywhere close to this level on multifamily homes. 22% new york community bank has is 5%. %. a big step down. not to say it won't be an issue, that's one of the key concerns, we are cautious on
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the banking industry, to set aside reserves over the last several quarters. liz: let's hope you are correct that new york community bank can survive. a little more worried than the market appears to be. we don't see it spooked in the latest earthquake in the regional bank, incredibly strong at this hour hoisting the s&p and the nasdaq. cloud and data management software company is at the north pole of the s&p leaderboard, gaining 20%. we've got the ceo coming up. it's followed by chipmaker and chip equipment manufacturers broad, western digital, micron, kayla, everybody is up, 4% to 7%.
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and over the past, year to date. and it has spiked 28%. and one of the dow components, heavily weighted here in the nasdaq, struggling the past several days. there's news, goldman sachs taking off a conviction list and the market is looking strong overall. >> it's not supporting the market to get on it. apple doesn't have a clear
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strategy, they are the provider, they don't have a strategy that is helping to be part of this. liz: do you like any of the names in the magnificent seven. as we watch them hold onto extreme leadership positions does that make the market too narrow and how should investors absorb that concept and act on it? >> participate and protect. these companies, they are good companies. the microsoft balance sheet, on cash, they make the revenue but so many more opportunities in the end, they are price to perfection, the better upside, most of them, apple being the
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outlier, china demand is weak. they are in outlier. the rest are too expensive. i don't suggest you sell them all but take 10% or 20% profit and pivot to where you can be better your portfolio starting with the bond market. liz: breaking news on red -- on reddit, it's the ipo market. reddit is social media. it's a giant. may not be profitable, the third most visited social media site, the wall street journal plans to target a price range when it goes public, $34 a share. that's the kind of name that will reinvigorate the ipo market, add a little lightning to the bottle which is short of it.
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>> interest rates are too high. fed speak suggested raising higher and longer, rates are high, because of lending, very difficult marketplace to be. interesting name, headlining, that's not the catalyst we need. when we get the ipo market high is get rates to come down. may be a modest cut, look at that. very stagnant for a while to the end of the year. liz: a 6. $4 billion valuation is the range of $31-$34 a share would be according to the wall street journal on reddit. thanks for getting in here, great to see you. robots creating sweet financial dreams, what you are seeing on screen, those robots.
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the ceo of sweet green is next on how the new robata sized kitchens have become the secret ingredient issue for our quarterly report. this is a fox business exclusive. you've got to stay tuned for. the ceo of kavanaugh trumpeted a probable quarter. we have, after big gain yesterday pulling back a little bit, 2 thirds of one%. to put the gain 20% year to date another fraction. that one is up 1/4 of one%, a great year, 45%. potbelly, 39%, red robin struggles. it is up one. 8% right now. stay tuned, we are back in a minute. ♪ voya ♪ there are some things that work better together. like your workplace benefits and retirement savings.
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>> liz: there's gold in them far kale fields. get it? quick service, sweet green is seeing sweet gains at this hour. shares are up 28% and on pace for a record percentage increase. sweet grain posted a better-than-expected 27% jump in revenue in the fourth quarter and a narrower than expected loss. as it inches toward profitability, very promising results from its robotics investment. they call them the infinite kitchens restaurant. they are seeing better order
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accuracy, lower turnover, 10% higher average ticket order and better-than-expected margins. joining me now, sweet green cofounder and ceo jonathan neiman. the stock is close to a year and a half but we are fascinated with this lightning fast return you are seeing from infinite robotic kitchens. give us detail on those and how many more you plan to ramp up. how much do they cost? >> great to see you. i thank the team for a great year and awesome quarter. the infinite kitchens, i really believed there was a way to leverage technology to create a better experience for our guests and team members had better economics for shareholders and we -- the first one last may, the second one in huntington beach a few months ago and promising
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results. they can produce outlets at a faster pace. you are seeing some of how it works. it is a perfectly consistent meal, the hot food is hot, the cold is cold. you can produce 500 roles per hour. team members as you mentioned, really appreciate working there. it is a better place to work, we see lower turnover and excited to continue to build on the success of the first two. we plan to test a few retrofits taking high-volume locations and retrofitting this technology. with this mission of how do we connect more people to real food. liz: what are we looking at and who is behind the technology, who are you partnering with to make it happen?
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>> as we mentioned on the earnings call the technology costs 450-$550,000 a unit. seeing their return with a 7% margin in those units. return on capital will only get better. the cost of the machines come down, believe there's a lot second-order benefits of the experience and in terms of the team proud to work with the best engineers in the world, they developed the technology, acquired a couple years ago. an amazing job in developing this technology that works seamlessly and is working towards scale. liz: what does the breakdown of the workforce look like. >> humans are the most important ingredient in what we do.
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the team members do more of what they love. and making all the food from scratch in the restaurant, chopping it, rose to get them everything made in the restaurant every day and the hospitality and in that experience, they can focus on service component, hospitality component, something of core value is the sweet touch, take away the tasks to focus more on that. there would be fewer employees, employees that are there are able to focus on other parts of the business and most importantly focus on developing future keim members and future head coaches. one thing we believe in his team members from within. 75% of future managers to be developed and this would help
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us continue to develop. liz: i want to talk about the food. some real protein offerings that have been embraced. you have the salmon, roasted chicken. tell me how much power you foresee coming from the more expensive balls that involve protein. >> a place for nutritious credible food and protein plates that go into that and a bowl, in roasted vegetables and so many occasions. we have seen great success. people loving that, it will be a big driver for us over time. we are testing stake in a few markets, and pushing into a
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heartier option, trying to drive that and expand our customer base. liz: they are happy to taste tests anything. thank you. >> great to see you. liz: the stock is having a terrific session, up 29%. the world's richest man taking on the most iconic artificial intelligence leader for straying from its original objective. elon musk is suing open ai and its ceo, sam altman. the poster mile for the chipmaker praise continuing its print higher. the 1-year increase, 252. 9%. we are coming back.
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liz: look at tesla shares. they've been down in the red. they popped into the green by 3 quarters of 1%. price cuts for cars sold in china, this could be interpreted as an indication that competition with china, continues to heat up. tesla ceo elon musk taking on another text titan back here in the us. open ai, the company behind the hugely successful ai platform chat gpt, musk is suing sam altman alleging the company that originated as a nonprofit
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has abandoned its mission of developing artificial intelligence for the benefit of humanity. to give some background, musk was one of the originals in 2018. and accusing altman of pursuing profits. kelly o'grady calling through the lawsuit. what have you dug up the tilt this in one way or another? >> folks that i'm speaking to say this doesn't give musk a lot of ground to stand on or to go through that. it brings to a head the concerns musk has previously shared about ai development but you said it. in 2015, he was a founding member of open ai. looking at the lawsuit, his legal team is suing on the grounds that sam altman abandoned that nonprofit mission and they are him, close
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to $34 million of his own money to fund altman's efforts to develop ai for good. let's go to 2,019. open ai created a separate for profit arm funded by microsoft. that's which is a key driver in the suit. open ai has been transformed into a close source they facto subsidiary of the largest tech company in the world, microsoft. it is refining an agi to maximize profits for microsoft rather than for the benefit of humanity. the public firing of altman was an accusation. a nonprofit board, restored altman as ceo. musk is looking to recoup his money but he was co-chair of a nonprofit foundation. this wasn't a traditional investment with equity and
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donated through 2,020, that's well after opening i began the activities musk claims to be against. the breach of contract is going get to be hard to prove given he continue those donations and open ai could spend its for profit arm. no two ways of looking at this. elon musk is concerned about the direction open ai's taking but he has skin in the game for his own venture. any trouble for open ai helps them. liz: exactly. thank you very much. kelly o'grady. fox business alert. multiple headlines all day long regarding eva maker fiscal or that have been pounding stock to a record low of $0.38. of $0.38. here's another breaking in the last half hour. this one is a lifeline. sources are telling reuters nissan is in advanced talks after the ceo warned last night
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it probably won't be able to start what he calls external expenditures, meaning spending any money unless it secures a manufacturing partner. the evmaker is coming off of its record low of $0.38, right now at $0.55 but still down 24%. nissan could close the deal this month but nothing has been finalized. terms being discussed include nissan investing in more than $400 million in fiscal are's truck platform and billing for scraps planned alaska pickup at one of its us assembly plant starting in 2026. nissan will build its own electric pickup on the same platform. the news comes hours after they raised concerns and doubts, that would be business speak for unable to survive. we've got fisk or right now off of low lows of the session,
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maybe another life attached to nissan. chipmakers at the top of the nasdaq 100. broad.com hitting a record high after often higher raised its price target to $1500 a share from 1100 and 1394. the semiconductor index advancing to an all-time peak on the frenzy for anything artificial intelligence and that frenzy leading to a record high dell technologies. the equipmentmaker dell computer released an upbeat annual forecast that shows a beat on the top and bottom line. orders for dell's ai optimized servers jumped 40% sequentially in the fourth quarter.
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quarter over quarter. dell up 30% just today, to $130.10. dell's gains providing more fiber to the notion that ai is driving gains across enterprise tech vendors. net apps is one of the. the data storage and services company soaring to its highest level since 2000. we've got the ceo next on how the company's partnership with nvidia helped its slamdunk orderly earnings. nvidia is getting helped by net apps. talk about a slamdunk. and kendrick perkins. raised by his grandparents because his mother was killed when he was 5. how is that guy living a tiny two bedroom home with very low
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liz: met apps stark's next level, shares of the cloud and data infrastructure company blasting past the two decade high, slightly off of session highs celeb 18. 7% % to $105.80. what drove it? solid quarterly report, they beat both on earnings-per-share and revenue expectations. the company raised its annual profit guidance for the second quarter in a row. after the results were posted a dozen brokerages lifted their price target on the stock with many taking note of the momentum in artificial intelligence. the ceo of meta in a fox business exclusive. thanks for choosing our viewers to stand in front of on such a significant day. my producer posted all the
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brokerages, morgan stanley, webb bush, jpmorgan and the list goes on, raising price targets but you probably knew that you were on this incredible path but what's incredible about it? talk to our viewers in understandable beak so they don't understand the technology what it is you did during the quarter that has been so helpful? >> thanks for having me, we are in the age of data and meta is the leader of helping our clients protect, secure, and provide access to corporate data for broad range of applications. the most rapidly emerging one of which was artificial intelligence. the results of the quarter on
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the top line, record results in high-performance storage products as well as a really strong growth rate for our cloud storage products where we have deep partnerships with amazon, microsoft and google. in addition, we had record operating profit, gross margins in company history so our guidance was up for the second successive quarter. liz: you talk louder in artificial intelligence, you have this welcome crash with all of them, you are the company that helps everyone from amazon's aws, google's cloud, you work with oracle to support its cloud systems. how, if you could explain, dear product and hands what they need to present to their customers?
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>> what customers want is the ability to use their data alongside applications in ai, they want to take a foundational model like chat gpt but make unaware of the company's own data so it becomes more relevant to what the company is doing and they need superhigh-performance, highly secure storage to do that and they do that in the cloud and customers data centers. liz: the hybrid, one of each. we have a 5-year partnership with perhaps one of the best partners anyone wants to compare their wagon to and that is nvidia. you are working on generative and predictive ai models. how are you leveraging ai, nvidia needs you guys as much as you need nvidia, correct?
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>> a mutually beneficial partnership, we store and hold all of the world's important data. for example with generative ai, operates on documents and images and texts of various types and we are one of the largest and best kind of asset profilers, many clients want to take the data sitting on our systems and combine it with the gpus, large language models they use to make their businesses more efficient. and the largest oil and gas company for supercomputer, and using our ai storage black
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farms, genetic science and we work with amazon to have one of the world's largest open source large language model training environments deployed in cloud-based storage platform so excited about what the future holds. liz: sleep with the phone next to you, a lot of people trying to call you and set up these partnerships. we would love to have you back on "the claman countdown". for those interested in this type of thing, the pe ratio of the stock is 17 putting it on much more palatable areas and some of these high flyers that are training more than higher pe. the new chairman of red bird capital sports and media division and former head honcho running cbs if the private investment firm ends up buying
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♪ liz: let's put shares of pair a mount global up on the screen right now -- paramount. they are down 1 at the moment to
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$10.95. newly-minted member of red bird capital, jeff shell, he's the former nbc executive who ran nbc universal, he is said to be very interested in running a network following his ouster from nbc, what, two years ago, three? >> about a year ago. liz: red bird now considered the sole survive ising bidder for paramount, at least with coin. charlie? >> yeah. this is interesting. the deal is not done, and anything could happen at the last minute. someone could swoop in. we understand this thing right now, you've got -- red bird is the bidder, maybe the sole survivor. now, byron allen still says he has money, people close to the deal are questioning that, but red bird definitely has the money, and it has the money for if a lot of reasons including it's backed up -- excuse me, red bird and skydance have the money. remember, this is kind of a joint thing with david ellis and keith -- larry ellison's son who
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runs this production company called skydance. they definitely have the money because they're backed up in part by larry ellison. i didn't realize, larry ellison is worth with i think $150 with -- billion. that's elon musk type money. he's kind of in the mix. red bird is definitely in the mix. and red bird's run by a very, very talented banker. i've known him for a while. knows the media business very well. he used to work for goldman sachs, starts his own private equity firm. the real kicker is that redbird brings management. as of now, they are -- you know, this deal probably is theirs if they want it. there's a few levers to -- is to dot and ts to cross, and we'll get to that in a second. he brings a lot to it because he has two really good media people. he has jeff shell who, you know, ignominious exit from, you know, cue the inappropriate behavior with a female reporter, but, you know, again, smart guy.
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jeff zucker, former head of cnn. these guys know the business. and from what i understand, if this does happen, shell definitely plays some role and possibly if even zucker. liz: both of these guys are seasoned -- >> smart guys. liz: -- tv news executives. >> we should point out a lot could go wrong. here's why. shari redstone, who owns paramount through a holding company created by her old man, sumner, the media mogul, national amusements, you have to buy that. you back into the ownership of paramount assets, and then you have the thorny issue of common shareholders. so you buy her thing for $4 billion, is mario gabelli and warren buffett going to go away empty-handed? liz: two big shareholders. mario has really stood by this company. >> yeah. i don't know if warren is 100 i- liz: he sold a bunch of it. >> but we don't know if that's
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an old filing. so that's why this thing is complicated, why it's taken so long. and redbird, and, you know, shell joined redbird, from what i understand, to do this. they want to really do this. we'll see if byron allen are makes a run for it, but from right now i understand it's redbirds. liz: the two jeffs. interesting stuff. charlie, thank you very much. all right, closing bell, two and a half minutes away. s&p and nasdaq up for the second week in a a row. dow down for the second e time in the last three weeks. joining us now as we are on the cusp of records again for the s&p and the nasdaq from the cboe, bull's eye option chief market strategist alan knuckman. are you as bullish as investors collectively are who have pushed this market higher and higher? >> yeah, very much so. so i've been optimistic. optimism wins. we've got new highs not only in the s&p, the dow, the nasdaq, the 600 in europe, the nikkei in japan.
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there's been a lot of market movement, and stocks are still cheap if you look at pe terms, still about 15% off from where we were in january 2022, the last time the market made the highs. liz: and you know what hasn't been making highs? chinese stocks. we've got to put them right in the center because you've been watching these. are you saying they are now buys? >> right. yeah, that's where i'm looking for opportunity. it's risk-reward, obviously, a little bit more challenging with the major move the markets have made here in america, but china became decoupled to our u.s. stock market. from 2005-2021 they moved very much in tandem. then 2021, we've seen the chinese stock market down about 50% since that time whereas the s&p's up 30%. so i'm looking for them to come back into play once again. but they've been beaten down. so a lot of big, well known, profitable companies -- baidu, jd.com, baba, the risk-reward is very much on their side because as we know, i don't want to --
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i'm just going to say politely, they don't have free market conditions. so they can be manipulated by the government to boost to get everybody more comfortable, and that would be very much a positive for anybody that's long those stocks. liz: yes. well, you can be nice about it, we'll just say it's called the iron fist. alan, great to have you. thank you very much. [laughter] alan a nutman from the cboe where you can see in these last couple of seconds, here comes the closing bell, there is serious activity. all that noise behind him, why? we have a blue ribbon finish for the s&p and the nasdaq as trade thers wrap up for the week. traders wrap up for the week. s&p up 41, the nasdaq up 185. russell up 21. transports down 6. monday, north dakota governor doug burgum, zscaler's ceo and steve gursky. ♪ larry: hello, folks, welcome to

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