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tv   Varney Company  FOX Business  October 21, 2015 9:00am-12:01pm EDT

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stuart: we will take it, maria. thank you very much. well, a picture tells a thousand words. make that a million. wake up this morning to see a smiling syrian tyrant. welcomed in moscow by vladimir putin. good morning, everyone. that picture tells the story. a sa assad smiles, why not? iranian troops pushed america out of the middle east and assad and putin perfect together and winning. more on that coming up. trump, he's winning. reached a new level of support and an abc news poll shows him at 32%. and then you have those polls believe he would be the strongest leaderment of -- leader. what he had to say about closing mosques made headlines. tesla, chipotle and yahoo! watch it play out on the market. and you will meet a woman who
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swears by female viagra, says it changed her life. yes, we cover it all. "varney & company" is about to begin. ♪ ♪ >> it's italian music, i do declare. that's in honor of walter ferrari because our executive producer is italian and ferrari's iconic car goes public. and the stock initially priced at $52. we'll be the first all over this and we would ask would you rather own a ferrari car or a share of the company? a pretty good company. that's called icahndy and you'll see lots of it. let's get to politics, that's where it counts. donald trump and hillary clinton look to be pulling away from the pack, look to be the
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frontrunners for the election. how about this? a poll shows trump 32%. vote. carson second place with 22%. marco rubio third with 10. look to the democrat's side. the wall street journal poll shows hillary clinton with a commanding lead, stretching out her lead 49%, sanders 29, and biden down there at 15%. fiscal times columnist liz peek joins me now. i said almost casually, it looks like clinton versus trump in the presidential election, am i jumping the gun? >> who would have thunk it. the republican establishment, i think it's fair to say, is having a heart attack. they can't believe that donald trump is going to be a standard bearer. nothing he does dents his standing. he can come out with the most outrageous thing and improves his standing. he's had gaffe after gaffe,
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what is perceived to be a gaffe according to the party line and people love the fact that he's out ray -- outrageous and antidote to president obama. and never calling out the muslim communities with extremists and trump goes out and people love him for it. stuart: a side bar, paul ryan looks like he will be the house speaker with certain conditions. you think that's a godsend for republicans? >> we need to have order in the house and it has been disorder with a big d, so i think that paul ryan is very, very respected. the smartest guy in the house. stuart: maybe we could stop the government shutdown and away from the budget impasse. maybe this is why the dow will open up higher. we'll see. stay there, liz, we have more for you.
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donald trump was on the show yesterday and asked him if he would follow britain's lead and consider closing mosques, watch in. >> i don't know. i haven't heard about the closing of the mosque. it depends if the mosque is loaded for bear, i don't know you're going to have to certainly look at it. if they want to fight for isis, that's fine, they're not coming back into our country if i become president. stuart: a strong stand, he wasn't expecting the question and came out with it he would consider closing the mosque. ashley: he had considered those fighting for isis not allowing them back. and david cameron indicated if they're a haven for home grown terrorism. stuart: he said if they're loaded for bear, if the mosque was loaded for bear. ashley: that was picked up across the internet, drudge report and. stuart: it was on drudge. ashley: it was on drudge and the liberal sites and conservative sites and touched 0 of an interesting debate. stuart: see, this guy runs a reality show. it's a rolling reality show.
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he was on tv three times yesterday, live interviews, three times. ashley: look at the coverage and look at the ripple effect. stuart: he was simply sitting in his fifth avenue apartment. he doesn't leave home. he's sitting there, and doing this stuff and getting millions of dollars worth of free publicity. ashley: it's a dream. stuart: depends whose side you're on. ashley: exactly. stuart: nightmare or dream. all right, time to get to the corporate front. look at yahoo! please, a look at where it's going to open. not much change, the big loop yesterday if i'm not mistaken. after three years, it looks like marisa meyer's turn around plan for the company has at best stalled. which leads me to ask, liz, is her time as ceo up? >> well, her demise has been forecast a number of times and she has bounced back. look, she's an incredibly able person who did a lot of clever and rejuvenating things with yahoo! early if her tenure, the problem is, it's a really tough
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space and this is a company that's sort of old line. she's tried a number of things, they really haven't worked. we'll see how much patience the investment community has. stuart: can we say yahoo! is old tech? >> in some ways, it is. stuart: they've been around for generations. >> they haven't been able to glom onto one of the new and exciting businesses in the space. they're not in facebook and things like that. they've got a problem, no question about it and whether she can sort of do things around the edge to make this company competitive and exciting gun? that's the question. stuart: it is, indeed. ibm is stumbling, old tech. >> of course, yeah, amazing-- >> and who would have thought that yahoo! would be old tech, i think it is. >> yeah, no, unfortunately, it's struggling, it's a tough, tough big. >> stay there, a lot more, don't go anywhere. now, another very interesting story. this is about tesla.
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that stock will open down again today. it was down huge yesterday. i think it was down 15 bucks yesterday. and here is the story. a big reversal from consumer reports. remember, a few months ago they gave the model s a fantastic rating, one of the best cars they'd ever seen, glowing report. it's now pulled that recommendation-- pulled the recommendation. so, ashley, you want to tell me what-- >> they called it the best car they've ever tested and gave it a score of 103 out of 100. the story changed because they sent out a survey to 1400 tesla s owners and asked them about their experiences and it wasn't that good. in fact, consumer reports downgrading it to worse than average. the customer survey highlighted problems with the drive train, the power equipment, charging equipment. rattles, leaks, squeaks, you name it, they reported it. consumer reports points out one thing that tesla does well, they respond quickly to problems, but as a result, this is not a great downgrade
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because consumer reports is widely, you know, respected and-- >> i think that consumer reports has a problem with this. how you can give a huge glowing report. >> because when they got the car from tesla, you know that thing was checked over a million times. they got the best of the best. when you talk to the average person who bought one of these, maybe it wasn't in pristine condition. >> we're still on tesla, this is a big story. we're with shah galani and i read your stuff and you've got a headline that says that tesla is toast. >> i think it's been toast for a while. we shorted it expecting it to go down. i got a 185 price target for it, i think it's got a ways to go down. stuart: you shorted the stock, it's going down. >> i betted against it and i'm happy with that play and this consumer reports held our position, it's not just about the consumers reports, the fact that it resisted the momentum spot that lost the momentum.
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they're looking for anything that had momentum, can't restrain, coulden tan the expectations that people have for it. these stocks, these momentum stocks are getting hit right and left. stuart: apple is a momentum stock up until a couple of months ago. it's flat now. in the flat land territory and some of the stocks are coming out with earnings and we've seen it past earnings numbers that hit stock, the momentum darlings, and chipotle a one of them and they're across the board. you're the guy who says we'll hit 16,000 before 18,000. >> if you don't mind me correcting you, i said 15,000. stuart: as long as you're right you can correct me. 15. >> that's where my money is. stuart: you're going to stay until the opening bell, i believe. all right. we're about 20 minutes from that opening bell. let's look at futures. where are we going to open. 40, 50, 60, 70 points, maybe paul ryan who is likely to
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become the house speaker and that may settle the division amongst republicans at least for now. no government shutdown, maybe. no budget impasse, maybe. i wonder if it has something to do with the market? you don't know, shah galani. >> maybe, anything that moves congress forward has some good to the market. stuart: our producers keep the pace going. keep it going, wrap, shut up, and monday night football ratings, big boost. nothing to do with the game in face you missed it. >> the force was with the ratings, and ten minutes before the star war trailers on monday night football and gave it the second highest ratings of the season and callaghan is not taking the company public soon. uberis currently in the quote, junior high stage of development, going public now he said would be like, quote,
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telling us to go to the prom. uberis currently valued at more than $50 billion. and ferrari going public on the new york stock exchange, and he's likely to finally become a billionaire worth 1.3 billion. ferrari, of course, is trading under the ticker race. stuart: say it again, pierre ferrari, a billionairo. >> that's the right word. got to be ferrari. stuart: a powerful new alliance forms in the mideast. vladimir putin creating a stronger band with syria's tyrant. watch them smile. mike huckabee is here on that and he is next. so jill, i know the markets have taken a hit lately.
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mmm hmm. just wanted to touch base. we came to manage over $800 billion in assets, through face time when you really need it. it's how edward jones makes sense of investing. you can't breathed. through your nose. suddenly, you're a mouthbreather. well, just put on a breathe right strip which instantly opens your nose up to 38% more than cold medicine alone. shut your mouth and say goodnight mouthbreathers. breathe right
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>> a picture says a lot, especially this one. a smiling syrian tyrant, bashir al-assad welcomed in moscow by
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an equally smiling face, vladimir putin. republican presidential candidate mike u.k. had joins us now. governor, i've said flat out, that's a picture of america's retreat and president obama's defeat. do you read it any other way? >> there's no other way to read it, stuart. we had a red line that we didn't even pay attention to and the result of that vacuum was that putin swept in and gave a big old hug to assad, which he'd been doing anyway, but this gave them an empowerment like they've never had before and that's why basically president obama got rolled like a california sushi. that's where we are right now. stuart: good line, governor. an interesting line. what would you do if you were sitting in the oval office and presented with that picture and that situation in the mideast, the first thing you'd do? well, the first thing i'd do is restore american credibility which has been blown to pieces. we picked the wrong partner in every country in the middle east or missed assessment what what is happening, yemen,
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egypt, libya, syria, iraq, afghanistan. i mean, israel, there's no place in the middle east where the u.s. got it right. most importantly, they totally blew it in iran. so, the first thing you've got to do is restore credibility. i think that's a military buildup showing we're not going to be a toothless tiger that we're going to be the most fearsome force on the face of the earth. don't mess with america and the second thing we do, begin to ask ourselves, what are our keen and primary interests, whether it's in syria or anywhere else in the middle east and it's to provide stability and to keep our allies from being overrun by muslim extremists. and the fact is, isis is a bigger threat to us, as is the rest of the radical islamists like iran, than is assad for the present moment. we've got to start picking our enemies carefully and choosing our friends and being a friend to our friends a little more wisely. stuart: governor, on the program yesterday, we had donald trump and i asked him
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flat out, would you follow britain's lead where they are prepared to close mosques and prepared to say, if you go fight for isis overseas you ain't coming back? and donald trump said, yes, i would do pretty much the same thing, if any american goes over there to fight for isis, they do not come back. would you do the same? >> oh, i think if a person goes to fight for isis they now have become an enemy combatant. i agree with that. i think the troubling thing is when you start talking about closing a mosque, we have a little problem in america they don't have in britain, it's called the constitution. we have to be careful if we take a step that strong, that extreme we better make sure that woo he adjudicate is properly because you can't go in with the force of the executive branch and say we don't like what you're saying in your mosque. you better have hard evidence and then take it through the judicial process, you can't make that arbitrary unilateral decision to close down a place
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of worship even if you find out what he is going on in the e to you. stuart: got it. okay. you wrote an op-ed, and you said, dear republicans, keep your hands off social security. now, i realize you're thinking out of position there. do you oppose raising the retirement age under social security? do you oppose that? >> i most certainly do, yeah, and here is why, stuart. because when people got into the social security program they went in, certain rules just like if you made deposits in your savings account. if the bank comes back and says, we've decided your account is doing well, but we need that money for some of our other depositors so we've taken your money and you have to put in more to get it back. now you've stolen from those folks and lied to them. the government has stolen from people throughout their working lives, and i say stolen, that's a strong word, but nobody was asked would you like to pay into this fund? it was mandatorily taken out
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of our checks. 70 million americans depend on the funds and a bunch of them, some 70% of them depend on it for a third or more of the income. a third of them, it's 90% of their total income. i think that first of all, this has got to be looked at not as welfare, not as entitlement or a freebie, this is money who belongs to the people who worked for a living. stuart: governor huckaby, we hear you and read the please, come back with infor, thank you. >> thank you, stuart. stuart: an israeli cafe trying to make peace between arabs and jews. and gives them a discount if they sit and eat together. how about that? and ferrari, new on the wall street block. it's about to start trading.
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i've got a trivia question for you, august of last year, record amount made 1962, gto, most expensive car ever sold. here is the question, how much did it sell for? if you don't know it, say so. don't google it. back in a moment. awe believe active management can protect capital long term. active management can tap global insights. active management can seek to outperform. that's the power of active management.
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(ee-e-e-oh-mum-oh-weh) (hush my darling...) (don't fear my darling...) (the lion sleeps tonight.) (hush my darling...) man snoring (don't fear my darling...) (the lion sleeps tonight.) woman snoring take the roar out of snore. yet another innovation only at
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a sleep number store. >> i told you before the break, the most expensive car was the 1952 ferrari gto. how much did it sell for $38 million for a ferrari. by the way, the stock goes public today. how about this a humus cafe in israel offering half price meals to jews and arabs sit down together. ashley: 50% discount. breaking bred with humus, whatever you want to call it. they advertise on facebook, we don't have arabs here, we don't have jews, we've just got human beings. if they can sit down and break some bread and have some hummus, a nice story. stuart: liz peak. i don't understand why our
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president doesn't offer gung-ho support for our best friend in the middle east, israel. >> that's not what he came in to office to do. he thought a more even-handed treatment of muslims and his first trip was egypt in 2009 and reach out to the muslim world, look we're going to have a more evenhanded policy, a lot of americans agree it's gone much more in favor of the muslim world. certainly the iran deal was a smack in the face to israel. look, this lovely story about an individual trying to make a difference in the middle east, if there were more people doing that, it would be great, but-- >> they're not. >> they're not. stuart: liz, thank you indeed. coming up moments away we'll take you right to the opening bell and we're talking about amazon. believe it or not, they're huling out same day delivery to more cities, 750 of them. how about that? this is going to be the stock that a lot of people talk about toed.
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ferrari, you might not be able to afford the car, but might buy a piece buying the stock. "varney & company" is back in a moment.
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e. stuart: if my kids came back home with a big, fat, beautiful tattoo, i wouldn't be exactly thrilled. you know what, stuart, you're
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fighting against an upward current because of' never seen anything like it. you look now, everybody's got tattoos. i don't get it. stuart: i wish i had more time to talk about tattoos. i don't because the markets open shortly. you know what donald trump thinks. we'll be off and running this wednesday morning, where are we going to open up? not a whole lot, but we're going to open up. trading has now begun. the dow jones industrial average opening up 10 points, 18 points, we're going up probably, 50, 60 points by the time we've settled in, we should be up not significantly, but we are going to get close to 17-3 in the first few minutes of business. here is the stock of the morning. it is chipotle. i'm going to say this thing is falling out of bed. look at that, down 7%, what's going on? >> the latest report after the bell last night. revenue did meet expectations and earnings fell short. sales growth at established stores, up 2.6%, up 19.8% a
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year earlier, in the earnings report. they describe the traffic in the stores as quote, choppy. they use that quite a few times, that expression in their, you know, conference call with investors. and we advising its outlook to upping the number of restaurants it's going to open. where are they going to get their growth. stuart: it's expensive rice and bean, high calorie rice and beans wrapped in a $7 check. you wouldn't touch it with a 10 foot pole. >> no, we expect this to go down, we're on the right side of it. the bloom is off the rose, a momentum stock that has no more momentum, nowhere to go, but down. stuart: down 8%, that's a selloff. yahoo! coming in with a d disappointing quarter. and maris sa --
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marisa mayer, she's been there liz: a disappointing quarter headed into the holiday season. and that's usually positive, revenue comes from advertisers. she bought the rights to the nfl game and amping up, awn doubling down with google. ashley: with google, shah. >> they had 100% deal with microsoft and moving over to google because they think they'll get more ad revenue, that might not pass muster with the regulators. and she's reaching. stuart: the next big name company in trouble has been tesla. a big drop 15 bucks yesterday because consumer reports backing away from its previous perfect rating on the model s. dan, come on to this because i want to ask you about gas prices. lower gas prices are not helping the teslas of this
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world, why pay $100,000 for an electric car when gas is $2 a gallon. how about gasoline prices now and in the future, dan? you've got a handle on that down there in chicago. >> gasoline prices i've noticed, they've come down, 2.55, 2.56 level because we're well supplied. when you start looking at companies, charging $100,000 for a vehicle that gets you better mileage than effectively what you can pay for gas. are you going to pay that money? certainly not if it's a reliable car for a year. a great performance to start, but when you can't have la much as that open, that's a problem. stuart: and on the screen now we've showed the national average for gas, it's down 2.23, that's quite a drop. come back in again, is it going to keep on falling? >> you know, i think we're here for a while. opec is having a meeting coming up. they're not expecting to cut back production, if they don't. you'll see this level hang
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here, you might go toward to lower level. as far as the upside, say that opec comes to an agreement. you'll have a spike up, but limited to 50-50. we're in good shape for gas prices. >> i think it will be better if it's a buck 99. that's another story. i'm paying a buck 85 in jersey, by the way. more big names are in the news this morning, look at this. boeing raising its forecast and its properties up 25%, i believe that stock is higher this morning. and i think it's a dow stock so that's helping the dow jones industrials industrials. look at general motors. the revenue $38 billion in one quarter, okay, that's 13 weeks they pulled in 38 billion dollars and the stock is up 4%. i guess that blew away these expectations and look at that, 34 on gm, 4% higher. how about sandisk, it's big because western digital is buying it, it's up, how much was that?
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sandisk is up 4% at 78, got it. there's a lot of buzz, there you go, sandisk, somebody is buying it, buzz on wall street, this time about ferrari. nicole's right there with the cars, what's going on? they look kind of good. >> oh, they look kind of great, stuart. absolutely. and the new ticker symbol, race, r-a-c-e for ferrari, exotic luxury in hot demand, no doubt. they put out 17 million shares, and this is fiat chrysler making ferrari available. just 17 million shares, that's only about 10%. the rest of it, fiat chrysler, they'll spin it off in january and some of the analysts i spoke with said that's the way to play this one. in the meantime, it's a $52 ipo and initial public offering, this hot car, where i'm standing in front of this one, this is the spider, and it's worth 600,000 dollars. it does to 0 to 60 in less than
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30 seconds and goes over 200 miles per hour. we have another ferrari, back there. the la fra ferrari. and they made $3 million apiece and guess what, sold them all in a day.look of those cars, too. shah galani, there's a half a dozen stocks you wouldn't touch. >> it's a luxury brand, it's not a car maker at this point. they're selling the luxury brand and i think they can do well and low pressurit's coming. >> it's not a car coming, it's a brand. an ultra luxury brand. >> at the high end of the price range it's coming out and higher at the ipo. it would be like a luxury brand. stuart: alert the media, shah galani says it will probably go higher. it's supposed to start at 52
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and you say-- we haven't got an opening yet on ferrari, the symbol is r-a-c-e, race. they haven't started trading it yet. there's a big crowd around the post, i believe, where it's going to be trading. we'll bring it to you when it's happening. still on cars, the ceo of uber, he's not taking his company public anytime soon. you know, this is kind of annoys me, shah. this is an up and coming company. i, the little guy, i can't get a piece of it. i get the insider's story. >> i don't know why he's making a mistake. the company could face headwinds, they could knock the value of the company down and the ipo would be hit hard. i don't know if he's not coming to market. he's not going to have a sell a lot of the company. >> he doesn't have to, that's pushing him hard, he can speak from experience. yes, uberwill go public within two year's time and they've basically got documents leaked
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to it they said at reuters in august. >> within two years, that's a long time. >> that's a while out. time to get the sea legs in china. >> and i've got a good story for you on amazon, this is a real surprise to me. they're expanding free same-day delivery to two more markets, that's all land over in chicago, and prime customers can now get free same day-- same day delivery in more than 750 cities and towns and that's extraordinary. same day, in all of those areas. >> staggering to me, i don't know how that's going to impact their expenses, but this is remarkable marketing. it's one of one, it's now the new standard. >> yes. i mean, to me, it's not something that's going to help the stock in the immediate future because i don't think there's that much money in it, but as a pointer to how the entire marketplace and delivery is going, as a technology pointer. >> a new benchmark for retailers and all retailers, it's a new hurdle. stuart: do i sound like donald
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trump? i want to move on to mcdonald's. the dow is up 38 points. okay, we went up 60, now we're up 38. on the upside this wednesday morning. mcdonald's, it's going to sell monster energy drinks in a km of dozen stores, is that a big deal, liz? >> it is a big deal, it will give a jolt, no pun intended to mcdonald's three year u.s. slump and the stock monsters was popping on this news, the estimates 1 1/2 billion in sales brought to monsters bottom line. if mcdonald's expands and i will say that the fda and the-- back up. ama doesn't like marketing energy drinks to younger kids, teens and-- highly caffeinated, heart problems, the like. >> this is a reach for mcdonald's. it's stepping a long way outside, it could back fire on them.
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stuart: in what way? >> again, selling an energy drink to the public they serve and average age of folks they serve. this is interesting. i don't know if it would go-- >> let me clarify, the fda is looking into hundreds of adverse event reports surrounding energy drinks. stuart: energy drinks generally and monster beverage is up on that. monster. got it. look at disney, they own espn. that network is cutting 350 employees. now, that's very interesting. is this all about cost. ashley: it is, 4% of their employees. it's going to get ugly as they say. apparently hr people are flown out from disney's people in ber burbank to handle it. upper level employees, six-figure salaries and up. cutting those folks out. disney sold espn it has to cut 100 million from the budget,
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2017. we know that espn is expensive as a subscriber on cable by some accounts $6 per customer. stuart: if you wanted to watch live sports you had to get the cable. now they're bypassing it. ashley: streaming it. stuart: getting is straight here. ashley: it's having an impact. stuart: sure is. look at mastercard, you can now use a selfie. i don't get it. somebody has to explain liz: i will. stuart: i have to set this up. take a selfie, okay, to pay with your credit card? liz: yes. stuart: what? liz: this could do away with the chip cards and when you go on-line it's internet shopping on buy, mastercard will say use to identity app, you look at the app on your phone and you have to open it, by the way when you log onto it it they'll send you notification, you have the app in terms of buying i don't know line. the app will look at you and
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see if it's your face. you have to blink in order for this to work. then you can buy with your face. stuart: hold on. hooker is my cell phone, okay, i get the app, i click the app, i hold the phone thus. the phone looks at me. takes a picture of me, my face, i blink liz: you bought something. stuart: i then access on-line shopping just like that, pay for it liz: you're already on-line and you have the app and hooked up everything, the app will say, yes, you've done the purchase. you have to blink so the thieves don't hold up a picture. the blinking is-- >> get the app, buy with a selfie liz: buying with your face. stuart: are we in favor of this? >> why not? digital face recognition. stuart: we've done everything else. check the big boards, please. up 41 points, and not a bad game for wednesday morning. 17,260. for boeing again, a big percentage bain ee ee ebainer--
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gainer. and female viagra, it's officially on sale and we're talking to a lady who says it's changing her life. others not so convinced. more varney in a moment. proud of you, son. ge! a manufacturer. well that's why i dug this out for you. it's your grandpappy's hammer and he would have wanted you to have it. it meant a lot to him... yes, ge makes powerful machines. but i'll be writing the code that will allow those machines to share information with each other. i'll be changing the way the world works. (interrupting) you can't pick it up, can you?
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go ahead. he can't lift the hammer. it's okay though! you're going to change the world.
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>> breaking news on vote for the speaker of the house. according to john micha, next wednesday will be vote for republicans to nominate the next house speaker. the full house vote will follow the next day. there's a vote next week, we've got that one. okay, now ferrari has just opened for trading. i am desperate i will trying to seek a price on this thing. 60, it's at 60.11.
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$52 the offering price, 60.11 the opening price, that's up $8, 16% higher. okay, very interesting. only 10% of the whole company is up for sale. they're trying to raise maybe 900 million dollars and we now have ferrari at 59, the offering price was 52. and then this. eric schiffer joins us now. come in, please, you're a bear on ferrari, you don't like this stock. it's up 15%. >> look, i love the cars, i think the cars are great. i had been to the factory, actually in italy. you could eat off the floor, you could have raviolis off the floor. the problem with that ipo is as an investment, it's a terrible idea and there are many reasons for it, stuart. stuart: list them, go. >> probably the biggest is look, they haven't really grown. the growth, relative to the way
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the stock is valued, is very low. this is a low growth stock in an automobile sector that's not known for being a good investment overall. you have them thinking about going up to 10,000 cars, well, the problem with that is that ferraris are doing so well and have done well with their target market, these very rich, wealthy ceo's. when you start flooding the market with these types of vehicles, when you start calling yourself a luxury brand, which is the way they sold their ipo, the challenge is, is that in order to do that, in order to keep growing and justify your stock, you've got to put product everywhere, you've got to put cars everywhere, ferrari shirts and pants and how many ferrari shirts and pants do we have? >> so you dismiss-- the reason that it's come to market is because they want to make it into the luxury brand and make money off the brand, as opposed to the cars. are you dismissing that completely?
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you don't think that the brand enhancement-- the stock 58, it's up 12% from the offering. >> i think the brand has some benefit in that regard, but this is an old story. they've been doing this for a while. i think the maximum the brand actually is producing is about 50 million. in order for them to hit the kind of numbers they're going to talk, they're talking about doing, you have to put it everywhere, at some point it begins to look like jessica simpson. it begins to look like-- it takes the value down and this was a premium brand. you don't put it everywhere, and that's what's made it a premium brand and it goes against the argument for positioning at the start. i think it's a bad idea. if you want a ferrari and you want to get close to the stock, buy the pen. stuart: buy the pen or the sunglasses. ferrari opened and they're selling to 10% of the company
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and they tried to raise about a billion dollars. they priced it at 52. the first trade was at 60, 60.11 now it's at 58. and eric schiffer there came in and said, look, he wouldn't touch this thing, he doesn't like it. he doesn't think they're going to be able to sell more cars and that's their intention and doesn't think they could make a great deal of money out of the brand itself liz: not much of a pop here, up 13%, but i think analysts were thinking higher. ashley: they have 23% of the luxury car market. stuart: the super luxury car market. ashley: it's significant, but hasn't grown liz: speed, luxury, wealth, that's what you're buying into that brand. stuart: gary gastelu is with us. sports-- no, car guy. i tripped up, didn't i? now, they intend -- ferrari intends to sell, produce and sell 9,000 cars a year.
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they've got a limit of 7,000 cars a year. are you dubious or in support of this expanded protection and sales? >> i think that the market can absolutely support that, no doubt about it. right now they've got years long waiting lists for brand new cars, you know, the thing about ferrari that people don't realize, they're the cheapest cars to own, if you buy one today and drive it for two years, you can probably sell in two years for what you paid and more. there's appreciation into these cars. stuart: didn't know that. >> this is why people keep buying and buying, several of them. beyond that, we're talking about the major brand that has nothing to do with the cars even. people go out and people who never afford a ferrari. walking around in puma sneakers, buying the clothes and formula one merchandise. i'm sure you'll have fan boys today and fan girls today buying the stock, the person walking around with the fra i
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rememberry clothes and never going to be able to buy ferrari, but they want to own a share of it. stuart: i'm not sure if you're stock price analysis, but you think they've got a good shot at selling the 9,000 cars that they produced? >> they haven't unlocked that market, they can do that without giving up exclusively . stuart: you're a bull on ferrari? >> i'm a bull, i think the brand is scratching the surface here. the ultra high end models like la ferrari and tour, sold out massively oversubscribed. some of this is very, very high, tripling in value the la ferrari. stuart: who is buying them? $300,000 and up from there. >> not only $300,000 cars, stuart, i'm talking $800,000 cars, talking 1 1/2 million
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dollar cars, talking very, very expensive cars there are ahoo net worth individuals and they don't care, they nt with a-- they want the 499 model car run and sergio marchionne understands that not with the $250,000 car, but many more high end models. stuart: what are the margins on the car? if they sell a car for 300,000 one of those on the-- >> 50,000 per car profit. stuart: that's the profit margin on a $250,000 car. >> of course, 7,000 cars, 50,000 a share. >> that includes the money they're spending on research and development. we estimates on 350,000 could be as much as 70%. stuart: hold on a second, a 300,000 car that sells for $300
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grand and the profit margin is 70%. >> gross margin. stuart: gross profit of 70% on a 300,000 car. >> that's over 200,000 profit. >> it's possible. that that's kind ever the story here in ferrari. the company spent a tremendous amount of research and development and scaling the facilities for production, but they will have to spend no incremental research and development or capital to grow to 10,000 units, we think on a $350,000 car the gross margins could be 65 to 80%. and 800,000 car it could be 80 to 90%. the margin opportunity is there. no money on marketing, research and development, it's all there. stuart: still with us, looking. >> coming back now. stuart: i don'tened that camera is eric schiffer. you said you wouldn't touch ferrari stocks with a 10-foot pole, but you've been listening to guys who say they could sell
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9,000 cars and adam says they could make $60,000 profit and more on a $250,000 car in large volume. yet, you're still a bear on the market. there's a limit to this, stuart, that's the problem. the problem is that at some point the growth ends. even in the u.s., they can't sell more than 10,000 cars without getting into big emissions problems and et cetera. and i think one of the things that is also missing here is that ferrari sold itself as this luxury brand and how they're going to be able to extend themselves through all the products and et cetera. i just don't see how you get the-- you know, shirts and pens to be able to get much higher than where they're already at at 50 to 100 million dollars without it affecting the brand itself. stuart: okay. adam is still here. point number one, raised by eric schiffer.
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if they sell 10,000 in america they're running up against emissions problems. >> obviously, they're under certain rules where they kind of get under the guidelines. we're not convinced there aren't opportunities for them to purchase tax credits and different things to kind of raise the production above 10,000. >> 10,000 is globally and you're going to see the growth in china. stuart: they're not going to sell 10,000 in america. >> no at any point. stuart: and eric's other people, you can't maintain-- it cheapens the brand if you put it on everything. >> if you listen to the road show that sergio gave they talked about insources or in-housing some of the licensing deals. i think they'll stop making t-shirts and keychains, and go higher end. a lot will be selling engineering and platform capabilities, inner engines. stuart: give me more negatives and we'll answer that with positives around the table here. give me another negative, eric. >> look, china, to be able to
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say that china is going to be the market, that's a joke. china right now, they can't even sell these types of vehicles without people being worried about going to jail because of austerity. they're looking at people buying luxury goods. china is not your market and-- >> get that question answered. where are they going to sell to, adam? >> everyone where, we have a growing higher net worth globally in, the philippines and south africa, and china is on the 10%. choo inn is a nonstarter for me. they're going to sell everywhere. >> that's not to say they can't sell more here. there's a waiting list. you can't buy a new ferrari unless you already own one. stuart: we're out of time. thank you for joining us for the opening trading of ferrari, now at 55.56, we opened at 60,
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let's see where we go today. all right, "varney & company" comes in just a moment. our thanks to all. we live in a world of mobile technology, but it is not the device that is mobile, it is you.
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♪ . stuart: 10:00 eastern and ferrari has opened for trading. first trade of the day was around 60 now it's at 55. okay. that's where we are now on ferrari. where else. in mosque on you, russia's president putin shakes hands with syria's tyrant, keeping assad in power and pushing america out of the mid-east, no wonder they're smiling. to politics. donald trump pulls ahead in a new poll. got 32% support and nearly half say he would be a strong leader. hillary clinton stole topping the polls on the democrat side, looking like it's a contest between the two. they look like the candidates to beat. months ago consumers reports call tesla the best car they've ever driven. not anymore. pulls their generating saying
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the car has too many problems to recommend. and it's the ip of the day, let's get back to ferrari, goes public as of this morning, made a big splash in the new york stock exchange, all those millions dollars of cars parked outside. we are on the excitement. "varney & company" hour two starts now. ♪ ♪ . stuart: ferrari starts trading, opening price was 55. liz: making a billionaire out of the air to the fortune so he could walk away with a pretty penny. stuart: i want to repeat that. we've got that. ashley: i think that's a great name. yeah, it opened at 60, and it has come back and value the company at $11.3 billion.
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stuart: that's the whole company. ashley: whole company. stuart: but only selling 10%. ashley: fiat chrysler owns 90% of this company. stuart: but sergio who is the chair or ceo, he is also the chair of ferrari. so he has two publicly traded companies under his wing. ashley: yeah, they're going to spin off the ferrari shares. stuart: i'd love to know where ferrari is going to close. now at 55,. liz: it has not been a thrilling ipo market lately, this is catching fire to the ipo guys. stuart: you've just got to watch fox business all day long and find out what's going on with ferrari. liz: that's right. stuart: i've got political breaking news for you. last hour on the vote for speaker for the house, next wednesday house republicans will vote to nominate the next speaker of the house.
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john boehner not in consideration, he's out, paul ryan says he is up for the job. now, the full house vote on the speakership will happen the following day, that will be next thursday. got it. now this. syrian president smiling as he meets with vladimir putin and why not? he's there to discuss the point pilt campaign in syria. also at the book, islam joins us now. your family is from syria. syria has been decimated. syria has been taken over by the russians and now syria is in mosque on you all smiles with their pal putin. look, i went at the top of the show and said we've lost, they've won. would you disagree? >> oh, not at all. and, stuart, you know, the interesting thing is there's no surprise here but the surprise is the flaunting nature of it, the, you know, putin making on being the publicist for assad now where he's basically proud of helping a genocidal tyrant who
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is decimating and kill syrians as the russians are and this is like a handshake with assad because yesterday the dod announced they had a mou with the pilot and, oh, by the way, the russians saying they had three soldiers killed on the ground fighting along with the syrian government. so therefore they are proud of having boots on the ground, they're proud of continuing the relationship they started with the base in 1971 where they came aligned himself with russia and the soviets at the time. so therefore this relationship is long in the going and now they're just open the access of evil proud of it. stuart: and essentially it's over, isn't it? in the immediate future, it's very hard to see assad out of power. i mean almost inconceivable at this point, isn't it? >> we've legitimatized them and years ago assad must go, he is a genocidal tyrant all
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of those things, that has gone and now it's become proxy policy that's my stay and somehow isis is the only enemy and you can't get rid of auto isis without getting rid of assad. stuart: britain's prime minister david cameron says he has a solution to some of the radical islam problems that have come to britain. for example, close some mosques and take away the passports of youngsters suspected to go overseas to fight for isis. now, that's britain. what are your thoughts on those two measures which have been muted by some to take place in america. >> well, i think the british have really laid out finally a long over due, a plan strategy that looks at many institutions, health care institutions, charities, schools, and mosques to say you know what? we're going to follow the ideology of islamism, the identity movement for political islam, not only isis but all islamists against the west to try to find them early before they become militants
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so that we can counter radicalize and begin to push, promote freedom in britain. america, we really shut down the foundation and cease funds in four of their mosques in a skyscraper in new york and others, so we have precedence for that, unfortunately, our president is more interested in victimization politics and other things rather than following the lead of britain on this and saying you know what? let's follow the ideology of islamism so we've created surroundism while uk is leading in this. stuart: that young man who built the clock and then was arrested, now we're told that he and ms. family will leave america and they're going i think somewhere -- to carter. what do you make of that? >> another not a surprise. you have a kid whose father who ran for president in sudan who now did a clock stevens tour on the countries, which are truly the axis of evil, he
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went to turkey, met with the war criminal and then also went to saudi arabia, by the way, this 14-year-old kid not in school, being used as the tool of the antiwestern, antifreedom axis of the islamic stay and now going to cutter because his family is not but not bonded to america. this was an operation to demonize america and used to raise money called him the muslim of the year on saturday and, by the way, most muslims i know despise this victim and want to see us use resources on islam radicallation. stuart: i did not know this father's was engaged in this or that, i don't think a lot of americans knew that. >> his father was a 9/11 denier on his if facebook page two weeks ago. stuart: glad to have you on the show. you reveal a lot we don't know and we appreciate that. great american. thank you very much.
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we appreciate you being with us. that shocked me. >> that was -- stuart: revelation to me. new concerns over hillary clinton's server. a department of justice official has exclusively told fox business there are fears that her e-mails were breached. her e-mails while she was overseas on business as secretary of state. this is a new story coming into us. what have you got? liz: yeah, still waiting to hear back from them via e-mails and phone calls, telling fox business that they are concerned that foreign telecoms breached hillary's e-mails and her server while she was overseas as business as u.s. secretary of state. they were saying that the telecoms would pick up the e-mails first and then send them to her server. they could easily have broken in at that point. they're also saying that she herself is classified as secretary of state and former first lady so this effort to, you know, talk about unclassified or classified, also three-month gap in security in her server for her
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first three months in her ten-year as secretary of stat. stuart: but she could have been hacked by foreign telecoms while traveling as secretary of state. liz: north korea, egypt, south korea. stuart: these revelations keep coming, don't they? now look at the polls. donald trump, hillary clinton pulling away from the pack. first off the new awashington post abc news poll out this morning. look at that. donald trump has raised his level of support. now in the 30% range, 32% to be precise, closest competitor is ben carson at 22%. now switch sides, the democrat side, the wall street journal poll shows hillary clinton widening what is now a commanding lead. 49%, 29% for bernie sanders, 15% for joe biden. fox news contributor megan mccain is with us now. look, i don't want to jump the gun on this, but it sure looks like it's shaping up as
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hillary clinton versus donald trump for the presidency. >> and i was the first person to admit i wasn't taking him as a serious candidate but he has out lived, cane, howard dean, they all lasted 60 to 90 days, and he has surpassed that, he's resonating with americans and i went to dinner over the weekend with someone who i trust and he said he's probably going to be the nominee. i'm coming to terms with it. stuart: i am hearing that. >> i'm coming to terms with i. stuart: you are john mccain's daughter. stuart: and i've put you as a established republican. >> i'm the daughter of a very well-known politician but i don't think having a legacy in politics and serving your country and understanding how washington works is a bad thing. there are a lot of bad politicians. stuart: but the establishment party. >> yes, i am. stuart: i'm not -- i'm saying that whole group of people right there in the middle of the republican party, they're
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going to have to -- they're now having to get used to the idea that it's donald trump as the nominee. >> it's not the fact that he's a washington outsider, he doesn't give policies specific enough to me, i'm just offended by the things he said about my father and other women and things of that nature but resonating with americans and, again, he's the choice of the american public, he's the choice of the american public, and i will move on because there's no chance in you know where that i would ever vote for hillary clinton. stuart: now, on this show yesterday donald trump appeared on the 11:00 hour. and he was very specific. i shot him -- i said, look, how about these policy ideas? >> there's no doubt he's getting stronger. stuart: well, getting specific. paid family leave, no, we don't want it got to stay competitive. $15 an hour, no, we've got to stay competitive. pre-k idea, no, can't afford it. that was a very serious answer to very specific questions.
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>> when he's in this fight with jeb bush saying 9/11 was george's fault, i just want to know how he thinks any president can prevent a terrorist attack and immigration plan would take time to go into effect. i've been around the block a long time, my father has been in politician since before i was born, hope and change has taught me nothing if not to believe great grand gestures and grand statements about how you're going to change the world within the a lot to back it up. stuart: he just says i'm going to do it. >> it's going to be great. it's going to be awesome. he reminds you of the guy that you date it's going to be fantastic and in the back of your head you're, like, but maybe you're dating other girls. that's how i feel about donald trump. ashley: good analogy. i like it.stuart: that was a ne. extraordinary. megan,. >> sorry, gentlemen. stuart: megan, mccain, you come back any time you like. and now this. female viagra, the little pink pill officially on sale. not everybody is sold on this
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new drug. but we're going to talk to a lady who says it changed her life. first, though, another check at ferrari stock. it opened -- 52 was the offering price, went to 60 and now at 56, we're playing italian music. our executive producer is italian. and going to show you italian cars. car candy. car eye candy. back in a moment. producer's american, by the way,
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stuart: we led the show this morning with that picture. assad smiling with his new big
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pal, putin, we've got news to add to this. ashley, who has putin been talking to now. ashley: very interesting, putin himself had a phone call with the king of saudi arabia about syria. stuart: the king of saudi arabia is talking to putin about syria. ashley: yeah,. stuart: implication being? ashley: well, you know, saudi arabia feels like it's being abandoned a little bit by the u.s. talking to putin, maybe a new power access. power is making these plays right under our nose. liz: by the way, russia is not a member of opec yet. stuart: it's a power play. ashley: it's a power play big time. stuart: all right. that's commentary for the day. good news for monday night football this past week. all because of star wars, jo ling kent come on in. >> yeah, star wars already scoring touchdowns, 16 million people watched monday night football on espn during
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halftime when star wars that trailer aired. it was reportedly the most watched program on tv on monday night. and subway's foot long was not exactly 12 inches long? it went viral and now subway will soon start measuring their sandwiches to make sure their foot longs are actually 12 inches and the six inch subs are the correct length. this is part of a almost final settlement in a class-action lawsuit that started two years ago. and amazon same day clarify expanding to chicago, in new jersey, new york, and philadelphia. the e-commerce giant announced it's now available in 750 cities in the u.s. ahead of holiday. and we are always watching that stock, it is currently down about a quarter point. stuart. stuart: jo ling, thank you very much indeed. now female viagra, yes, it is on sale now. not everybody is happy, you have to take it daily and you can't drink alcohol wile you're taking it.
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our next guest says it's worth it. come on in, amanda. before we get started here, you've gone around the country recommending female viagra. are you in any way paid by sprout pharmaceuticals or do they pay your expenses? >> no. they certainly don't. i was a patient on the clinical trial and doing what i do because i'm passionate about it and thrilled for women everywhere that we can finally have access to it. stuart: okay. i read your stuff and you're saying you are now using this product, flirty and playful with your husband. would you like to describe this for us? >> well, i was flirty and playful when i was on the clinical trial. i have not had access to it for five years. so i do have my prescription coming today. my doctor on monday, october 5th and got the prescription knowing it would be available this week. so i'm looking forward to being littery with my husband again. stuart: okay. that's fascinating. but how long do you have to take it for brussel this
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effect? >> i took it for a couple of weeks. i think the labeling says four weeks but we noticed the difference within two weeks. stuart: i don't know whether you get this for free because you're in the trials. how much do you pay for your prescription that you're getting now? >> i don't know what my monthly cost is going to be. my first month was $20. and so i will see what my insurance covers in the following months but my first month was $20. . stuart: okay. now, let's be clear here. this is -- you have to take it every day. >> you do. stuart: and you cannot drink alcohol. if you drink alcohol, it either doesn't work or sends you to sleep. so you've got those two restrictions on you. >> correct. that's the fda program, and i had to sign off on that at the pharmacy level saying that i understood that alcohol was a contraindication, and you do take it every day but women are used to taking things every day with soib prefer a
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daily dose of something rather than an on demand dose. stuart: i hate to say it about in the old days, alcohol was what people tended to use okays. >> i think alcohol maybe perceived -- stuart: yes, thank you. >> but it's not intended to be that way. . stuart: okay. amanda, i'm sorry i'm out of time. but thank you very much for coming on the show and being so totally honest with us. we appreciate that. thank you very much indeed. >> thank you. stuart: . stuart: liz what have you got to say? liz: it was first meant to be an antidepressant, it changes brain chemistry, they don't know how it acts with other dependents. that's an issue. stuart: that's an issue? >> it's a big one. if you're on antidepressants and you've taken seem viagra. that's the concern. stuart: okay. got it. donald trump. he was on the show yesterday. and did he perform or what? he's an entertainer.
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has transformed -- this is my opinion. transformed the political process and we eat it up. my take on that is next you can't breathed. through your nose. suddenly, you're a mouthbreather. a mouthbreather!
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how can anyone sleep like that? well, just put on a breathe right strip and pow! it instantly opens your nose up to 38% more than cold medicine alone. so you can breathe and sleep. shut your mouth and say goodnight mouthbreathers. breathe right actually, knowing the kind of risk that you're comfortable so what abouwith,t stock? i'd steer clear. straight talk. multiplied by 13,000 financial advisors it's how edward jones makes sense of investing.
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i just had a horrible nightmare. my company's entire network went down, and i was home in bed, unaware. but that would never happen. comcast business monitors my company's network 24 hours a day and calls and e-mails me if something, like this scary storm, takes it offline. so i can rest easy. what. you don't have a desk bed? don't be left in the dark. get proactive alerts 24/7. comcast business. built for business. stuart: hillary clinton testifies before the house benghazi committee tomorrow. yeah. there will be some tough questions but could the republicans come out on the losing end if they look like they're browbeating a woman? congressman pete coming up on that subject. and real trouble for tesla.
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a reversal from consumer reports on what they previously described as a fantastic car, the model s. now they say it's got too many problems to recommend it. more on that later this hour. donald trump has turned this presidential election into an ongoing reality show. he's running it. he's the main attraction. he is winning. and it has turned the political process upside down. yesterday he appeared on this program. that was one of three live tv performances tuesday, and i use that word deliberately performing because trump performs. what he said to me about closing mosques made it onto the drudge report, that's millions more trump viewers. social media picks up everything he says. he trends. and guess what? he's got all of this publicity without leaving home. his 5th avenue apartment is his reality show set and stage. in one day from home he got
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more facetime than any other traveling candidate at no cost at all. the election campaign has become the rolling trump show. day after day. he hogs the headlines. what's he going to say today? who's he going to bash? what does he think about this or that issue? and he delivers pep answers questions directly. he answers a lot of questions. he's a master of communication, and he knows it. this has transformed the political debate. it's no longer stock in the editorial pages of newspapers or those sunday morning talk shows. no. it's give and take moment to moment on live tv and facebook and twitter and snapchat and this is good. so many more people have been drawn into politics and current affairs and love him or hate him, it is trump who's done it. he's been in politics for over four months but, oh, what a difference he has made to the whole election process. trump
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stuart: take a look at the price of oil now. it is down $1.2644.99 and coming down. that's because we've just got the announcement of how much oil we've got in storage. and it's gone up by 8 million barrels. that's a lot. and down comes the price because you've got all of this supply and down comes the price. that's what's happening right now. 45 on oil as we speak. now, we've got another stock, you could call this the stock of the day, certainly the new stock of the day, that would be ferrari, first started publically trading today. the offering price is 52, it went to 60, now holding there at 56. that's ferrari. chipotle different story. falling short this quarter with sales slowing, maybe
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people tired of the menu, rice and beans, i don't know. but that stock is down $46. that's 6.5%. and look at polaris. i know from being a snowmobile maker and atv, they do that as well and the stock has taken a hit, 10% down. polaris at 108 as we speak. and let's take a look hillary clinton, testifying tomorrow before the committee of benghazi, architect of disaster, former congressman pete. pete, welcome to the program. >> great to be with you. thank you. good morning. stuart: here's what i've got to say. take it or leave it. i say unless tray gowdy, the chair of the benghazi committee, unless he comes up with new facts, actual facts that are brand-new, the republicans lose this one because it will be dismissed and hillary clinton will win because they will and i say it as a political exercise. what say you? >> i would tend to your with that.
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they have to come up with a few hometowns tomorrow where they say wow we didn't nail that, we didn't understand that, this is something new if we fall short of that start, i think you're absolutely right. it will look like a political witch hunt. stuart: and also look like men browbeating a woman. that's the optics of that are bad. the politics of that are bad. >> and they're going to have -- they're going to go full force and full face into the clinton political machine. they've got a major -- it's going to be a major test for that committee tomorrow. . stuart: do you think that hillary clinton is over this? that she's kind of leapfrogged over it or gone around the side of it and this is in the past for her? i don't know how she's going to perform tomorrow but at the moment, it looks a bit like she's over it. >> i think you've got two issues here. one she believes tomorrow we'll find out whether she's over the benghazi issue. the issue with the server and
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the e-mails, that's not going to go away very quickly. that's a very -- that's a very dangerous position and a very damaging position follow the former secretary of state to be. for almost anybody else in the intelligence community or the political world to have done what she did with her e-mails and her server and those types of things, they'd be facing criminal entitlements at this point. . stuart: but the public perceives it as all one problem, all the same. benghazi, e-mails is just all wrapped into one. so if she leapfrogs over benghazi and gets that behind her, the public will probably think, well, the e-mail scandal is gone as well. >> well, they, the public may think the e-mail scandal is gone but the fbi is not at that point yet. they haven't finished their investigation, it would be very interesting to see where they end up, very possible there could be an entitlement . stuart: i'm just going to break away for one second, pete because we had news on the potential hacking of hillary's private server. that was brought to us about a half hour ago.
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liz, what is that story? liz: well, what we're hearing from justice department officials, they fear while hillary clinton is overseas that she was hacked by foreign telecom workers. in other words, they could break into her e-mail and then get into the server as well. the cyber researchers are telling us they fear there was a three-month gap where the hackers would get in from january 2009 to march 2009 because she didn't have the proper layers of internet security. stuart: so, pete, that means that her judgment is in question, how could you let yourself be open to this kind of hacking? i guess that's the question. >> well, that's exactly right. when i was on the intelligence committee, i traveled over 84 countries around the world and for many of the places that i visited the first thing that you would get is a briefing on what to do with your electronic equipment, what you would do with your blackberry, what you would do with your computers and all of those types of things. i assume she got those briefings and if she didn't tell people she was working
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off a personal server, she really made herself and her system and her content very, very vulnerable. stuart: we know your name. we'll see it again. thank you very much, pete, come again soon. >> thank you. stuart: take a look at valiant pharmaceuticals, please. trading was halted earlier. it's now come back. trading again, and it's way down 21%. ashley. ashley: yeah, we had a circuit breaker excessive first selling on this stock. valium pharmaceuticals, this was after a research released a report on the company that spoke to a number of things. liz: yeah, and what they're talking about is separate from price gouging. known, very well-known on wall street. they put out brutal reports, they dig deep into the financials. two things price gouging. we know house democrats hillary clinton has talked about price gouging. and second thing pharmacies valiant is basically being antitrust and putting their
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drugs in specialty pharmacies you can't get ahold of. ashley: by the way, guess who valiant was buying. stuart: sprout. the maker of the female viagra. i wonder if that's something got to do with valiant coming down because as you reported there are problems with female viagra that might not sell as much as expected. maybe that's part of it. i don't know. but valiant is certainly down 18% as we speak. i am not, yeah,. stuart: how about tesla? very bad news delivered to that company yesterday and the stock was down yesterday, down $15, it's down another $3 now, tesla's at 2.10, bottom line is the consumer reports gave the model s a sterile generating and then did a 180. pulled that high generating and says they can't recommend the car anymore. shana is with us, she's the acquired cmo. right here. shana. what are they saying that's wrong with the model s now? >> so they did a survey of
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about 1400 models s ownerrers and there was significant reliability issues. so older models with the battery not charging, electronic powertrain, newer models with door handles not popping out and the sunroof not closing. so a number of reliability issues that were plaguing tesla and it got this worse than average generating now by consumer reports. stuart: i think consumer reports has got a problem itself here. if you come out with a stellar report, you give it a generating on a 103 and then you say, oh, no, we tested this thing, that consumer reports has a question hanging over it, doesn't it? >> now their response is that they've seen this before i believe with corvette they had this same issue where they said listen we test-drove this and we tested this, we would still give it that 103. but what's happening is that now it's on the road and people using it on a daily
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basis, the reliability issues are surfacing and that did not come into account in their initial review. stuart: okay. i want to take a look at yahoo for a second, that stock price down, another disintegrate quarter. that he could mean trouble for ceo marissa meyer, down another 4%. shana. take a look yahoo for me. besides alibaba, and they've got a chunk, besides that, what has yahoo going for them going into the future. >> yahoo has been testing out a lot of new products whether it's original content or new news outlets with the real focus on tech and other different verticals. i think that what you're seeing is, you know, a restructuring of some of the team because these trials aren't turning out the way they wanted. the streaming, television, the new shows that they've done weren't as big of a hit as they had once anticipated they would be.
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you're seeing marissa make some changes at her leadership level to reflect this and perhaps try new projects. stuart: i don't know about you, you're the tech expert but i think of yahoo as old tech. that sounds crazy because it's only what? 25, maybe less than that. is it old tech? it is, isn't it? >> it does feel like older tech and one of the things that came out this week was that snapchat, which is removed by millennial, removed yahoo as one of the folks that can post stories because they felt millennials didn't find it was relevant to their lives, which is not good news. neil: no, not good. thank you for helping us out on technology. thank you. >> thank you. stuart: the sector report, here it is. we're following the ferrari ipo. take a look some of the big auto stocks in that classification. ferrari. up 8%. 56, the offering price was 52 first thing this morning.
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fiat chrysler, parent company of ferrari, that's down nearly 3%, gm is having a terrific day. up nearly 5%, ford's doing well and tesla as we've been discussing not good at all. big drop yesterday, down again today. got it. next the republicans give hillary clinton a gift when they politicize the benghazi hearings. and you hear me say it all the time, millennials count and here's the reason why. they're spending $600 billion a year and that number keeps going up. more varney in a moment had it with their airline credit card miles. sometimes those seats cost a ridiculous number of miles... or there's a fee to use them. i know. it's so frustrating. they'd be a lot happier with the capital one venture card. and you would, too! why? it's so easy with venture. you earn unlimited double miles on every purchase, every day. just book any flight you want then use your miles to cover the cost.
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>> i'm nicole petallides with your fox business brief. stocks secured their gains, actually have some mixed market action on wall street. some of your dow leaders include right now travelers disney, ge on the downside. united health and goldman sachs spurned pressure. also watching the ipo. race that is ferrari, that stock was a $52 ipo, it opened at $60 and has been trading in a fairly narrow range and keeping its up arrows throughout the day. as i stand in front of these lovely ferraris. this one is $600 next to me. we want you to start your day every day at fbn a.m. at
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5:00 a.m. with all the breaking news you need here at td ameritrade, they love innovating. and apparently, they also love stickers. what's up with these things, victor? we decided to give ourselves stickers for each feature we release. we read about 10,000 suggestions a week to create features that as traders we'd want to use, like social signals, a tool that uses social media to help with research. 10,000 suggestions. who reads all those? he does. for all the confidence you need. td ameritrade. you got this. xerox personalized employee portals help companies! make benefits simple and accessible... from anywhere. hula dancing? cliff jumping! human resources can work better. with xerox. which allergy? eees. bees? eese. trees? eese. xerox helps hospitals use electronic health records so doctors provide more personalized care.
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cheese? cheese! patient care can work better. with xerox. that's it. stuart: john boehner was just asked what happens if paul ryan does not want the speakers job or doesn't get it?
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barren replied i don't know. well, very interesting situation developing in the house because there will be a vote next week for a new speaker. paulyan says, yeah, i'll take the job with some conditions. you've got to rally around me. you've got to unify. katie is with us and this is what i want to start out with. sounds to me -- or is this grasping at straws that maybe we'll get some unity now. what do you say? >> well, i think paul ryan is right to use the leverage that he's been given quite frankly by conservatives who were unprepared when kevin mccarthy dropped out of the race, not prepared with a viable alternative to kevin mccarthy and now here we are with paul ryan saying, look, i'll sign up for the job but not doing what john boehner having to do deal with a split caucus on every issue, paul ryan has a conservative record when it comes to things he can get done in the house. but, you know, consecutives are back at square one. we've been hearing for years
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they want john boehner gone. well, now john boehner's going to stay until they can come up with a alternative, so the ball's in their court is it going to be paul ryan or stick around with boehner at this point. stuart: i don't know what's wrong with ryan, he's an entitlement kind of guy, tax cutting kind of guy, what's your opinion here? do you think you can pull them all together? unify? >> we're just going to have to see how this whole thing pans out, i know some are frustrated with the demands that paul ryan put on the table with his time with the family on the weekends or campaigning or raising money, which i actually think is the good thing, that's part of the problem with dc, get so caught up in the dc lifestyle they don't remember that those things are usually more important than others. but we're going to have to wait and see if the members of congress are going to come behind them and at this point they're picking at paul ryan for things like immigration because he happens to believe
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in the say things that many of the republican presidential candidates do. so it seems like they're trying to find any type of thing to keep paul ryan out of that speakership. and, you know, i just don't think we're going to get anywhere. and, again, we're still stuck with speaker boehner until you guys make a decision where you want to go with it. stuart: quick question about tomorrow and hillary clinton on the benghazi committee or appearing in front of it. here's what i said earlier. if chair gowdy cannot come up with new facts about benghazi, then hillary clinton wins because it will look like a political show. and she wins. what say you? >> i quite frankly think that hillary clinton has already won this issue. i think kevin mccarthy's comments tying her poll numbers to the benghazi committee were fatal and i think tomorrow is a big show of republicans and democrats defending hillary clinton rather than asking serious questions about what happened that night. stuart: republicans could lose if it looks like they're browbeating hillary clinton. that's the fact. >> absolutely. stuart: katie, i'm sorry to cut it so short. big newsday.
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>> that's all right. see you later. stuart: thank you. now this. millennial spending. it is -- huge. new survey reveals millennials spend approximately $600 billion per year, that's a big number liz. liz: 1.4 trillion by 2020. millennials are basically a big economic force, and it comes as millennials are saying, hey, wait a second, we're really annoyed with our smartphones and that dial that goes on and on and on, it takes forever to upload speeds, it's too slow, we want to be faster. stuart: where do they get the money from. ashley: of the defendant mean living at mom and dads, they've got all sorts of mone. stuart: do you think this is mom and dad's money? liz: survey shows that they do have really solid jobs and they're trying to up the income ladder. stuart: okay. in our day, ashley -- well, my day, anyway, in england, 18 out of the house. ashley: gone. liz: or you pay rent. i paid rent.
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stuart: yes and your paycheck goes to mom and dad, not to you. i'm so old. next. news breaking all over the place on the race for the next speaker of the house, a live report from dc, that's coming up. and at the top of this next hour ambassador john bolton, his take on assad and putin's wonderful smiling handshake you wouldn't take medicine without checking the side effects. hey honey. huh. the good news is my hypertension is gone. so why would you invest without checking brokercheck? check your broker with brokercheck. jeb bush:believes thatnt, wamerica's leadership and presence in the world is not a force for good. america has led the world and it is a more peaceful world when we're engaged
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the right way. we do not have to be the world's policeman. we have to be the world's leader. we have to stand for the values of freedom. who's going to take care of the christians that are being eliminated in the middle east? but for the united states, who? who's going to stand up for the dissidents inside of iran that are brutalized each and every day? but for the united states, who? who's going to take care of israel and support them - our greatest ally in the middle east? but for the united states, no one - no one is capable of doing this. the united states has the capability of doing this, and it's in our economic and national security interest that we do it. i will be that kind of president and i hope you want that kind of president for our country going forward. announcer: right to rise usa is responsible for the content of this message.
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liz: welcome back we've got a full two hours of "varney & company" in the books. here are the highlights. we've got more varney just two minutes away. >> oh, i think a person goes to fight for isis, they now have become an enemy combatant, i agree with that. i think the troubling thing is when you start talking about closing a mosque, we have a little problem here in america that we don't have in britain called a constitution. >> the republican establishment i think is fair to say is having a heart attack. they cannot imagine that donald trump is going to be a standard bearer but, look, nothing he does dents his standing; right? he can come out with the most outrageous things. in fact, that improves his standing generally speaking. >> right now they've got years long waiting list for brand-new cars. the thing about ferrari, they're the cheap's cars to
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observe, if you buy one today and drive it for two years with you can sell it in two years for what you paid and or more. there's no depreciation in these cars. ashley: with my the question is does the gop have a new candidate for the speaker of the house? wisconsin representative paul ryan has agreed to run but only if certain needs and support are met. well, let's bring in blake berman from dc. so, blake, what are those conditions that paul ryan is talking about? >> well, ashley paul ryan has laid out a few stipulations for his potential speakership. among them reduced weekend travel so he can be with his family and eliminating the rule that led to the recent up rise against john boehner, which is the ability to call for vote to oust the speaker. and how will that sit with the house freedom caucus? they're the group with the roughly 40 or so to jump the 200 hurdle. the membership isn't publically advertised but
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including the founder tim. mark meadows launched bid to bane we are david successfully took down the leader eric cancer in the last primary. cynthia is the only known woman member. now, that caucus initially supported daniel webster in his bid and webster has said he will not back out of the running so the way forward here, ashley, certainly interesting. back to you. ashley: very interesting stuff. the soap opera goes on. blake berman, thank you so much. coming up in the 11:00 a.m. hour, former ambassador john bolton, the assad putin smiling handshake, benghazi hearings all on the docket and john tapper is back, he's the reality show for sure so what are his thoughts on trump as an entertainer?en hour two of varney just two minutes away ow? with fidelity's new active trader pro investing platform, the information that's important to you is all in one place, so finding more insight is easier.
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>> stuart: look at this picture. bashar al-assad.
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in moscow. that picture sums up america's retreat and president obama's defeat. it was a sod who crossed our president redlined and used poison gas on his own people. our president wants to remove him from office. in that picture, it is a sod who is smiling with light amir poulin. why is he smiling? because he has one and we have lost. ironic and troops backed by russian airpower. our president raised no big objective when this started. it was duped. the russians have gone after our friends. they are supporting, with our military, our enemy. assad feel safe and he smiled all the way to moscow. he wins.
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we lose. ♪ stuart: almost wednesday lunchtime. we are up 36 points on the dow. the big ipo of the day, probably of the week is ferrari. ferrari now at 57. other stocks are making big moves today. look at yahoo!. marissa mayer having a vision for the future. not good and down it goes nearly 4%. look at chipotle. down big today as well. we will have more on all of those stocks later. chipolte is down $45. a development on the political front next wednesday house
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republicans will vote to nominate the next speaker of the house. john boehner is out of contention. paul ryan is a possible replacement. a full house vote on the speakership. that is next thursday. there you have the deadline. my take in this picture. look at a smiling assad. being welcomed by vladimir putin. john bolton is here. you heard what i have to say. essentially, we have lots, they have one. now we have this new development. vladimir putin is talking on the phone with a saudi king. what is going on here? >> the clear message ringing a sod to moscow after nearly four years of conflict, russian intervention has stabilized things to the point where he can safely leave the country.
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i think this call to the saudis is also very eight significant. including some extremist groups. i think that this is them looking for that ending. you stop arming the opposition, we will consolidate assad. you leave him alone and we will turn to other issues. maybe including the price of oil. stuart: i was just going to say that. iraq, iran and the russians. a big chunk of the oil supply. across the gulf is saudi arabia. they want the price of oil to go up. >> i think that the ploy point of not restricting production when oil prices collapsed, it did not hurt iran and russia as much as they had hoped. i think putin clearly has a big agenda here to replace the united states as the dominant
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external power in the middle east. these will not last forever. the one thing that they do all have in common is a desire to see that price to come up. they have a lot to work out. it is not a done deal. the real question is whether the russian coalition which involves iran moves into that with the saudis or if there is more wheeling and dealing. stuart: we shall see. former defense secretary robert gates, he is talking about our country's preparedness to defend ourselves. just roll that tape for a minute >> a question before the congress and the president. is the priority you get to defense at roughly 15% the lowest percentage of the federal budget since before world war ii. without proper and predictable funding, no amount of reform are clever reorganization will provide america with a military
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capable of accomplishing missions assigned to it. stuart: no time for budget cuts for the military. >> it has been devastating to the military. not simply the cuts imposed by sequestration. close to 1 trillion a half dollars of spending the low bush administration projections. taking that out of the comparison, the military's capabilities, they have been genetically restricted. i think we have to be honest with ourselves. a new president will face extraordinary needs to have big increases in defense spending. that just means to me more cuts to keep the spending down. if we do not refurbish the military and make progress, we will simply be managing the decline that obama has imposed on this country. i find that an acceptable. stuart: the whole benghazi situation, so to speak.
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it says why benghazi matters. apart from the politics of this, apart from the hillary clinton appearance, why does benghazi matter? >> the fundamental failing of the obama clinton administration. they said general motors is alive and osama bin laden is dead you the war on terror is over. benghazi proves it was not over. we were not ready. the aftermath of benghazi. bringing them to a full due process criminal trial in this country. you can assassinate american ambassadors under obama and do it with punitive. stuart: didn't then godsey display our weakness? >> absolutely. clear to everyone around the world. the forbidden. >> have we got any friends left?
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>> i think that there are people who are gravely worried. it is contrary to the conventional political wisdom. i think that we need a national security election in 2015. the voters need to focus on who will protect us internationally. our standard and living without a strong american presidency that is the reality. stuart: i do not think so. maybe i am wrong. >> depends on who the republicans nominate. i think it depends on who the republicans nominate. [laughter] stuart: you are still a diplomat. ambassador, thank you very much. lots of action from some of those big-name stocks. i want to bring in john layfield. we will start with yahoo!. down today. the company turnaround plan, some would say that it stalled. all kinds of speculation about
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marissa mayer's future as the ceo. john layfield. come back again, please. you are buying it. are you a fan of marissa mayer? >> i am a fan of marissa mayer. you have the cash from aly baba spinoff. all their long-term investments. their valuation of $30 billion is less than what they have in investments and cash. you are basically getting yahoo! for free. it looks like fair value right now. i am a fan of marissa mayer. the game plan just simply did not work. she talks about a reset which is incredibly worrisome. i think the game plan that she has, video and original content, people doing a better job of it and yahoo!. stuart: take a look at to pull tape. it is down today.
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foot traffic in the restaurant is not that great. down $45. six and a half percent. what is going on. used to be a highflyer. >> that is what is scary about some of these fast food tonics. they're in a bad it's three burgers. still, they are cheeseburgers. that is what they do well. chipolte has fallen off. i would not be a buyer here at chipolte. stuart: i bought boston market, i think. i lost everything. stuart: i like lone star. i like the company. the problem with that is i am almost six years old. not trendy enough. almost what? >> almost half 100. stuart: a very useful young man.
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ferrari ipo today. now nowadays at 56. your take. >> only 20% of people got into this stock. if you are the individual investor, you are not on the totem pole here. a very small group get into it. only a 90 day lockup. the rich guy spends half a million dollars on a ferrari does not want to show up and see an accountant. there really is not a lot of room to grow. it is a great company. stuart: are you allowed to own a farah rate in bermuda? >> you can own a ferrari. it does not matter. say to.
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stuart: john layfield, thank you very much for joining us. amazon. this, to me, is fascinating. same day delivery service. order by lunchtime, get it by nighttime. give us the details. jo ling: it is going to orlando and chicago. stuart: that same day. jo ling: same-day delivery. what amazon is doing here, really ramping up for the holiday season. the retail season may be a little weaker this year. they are putting out as many efforts as they can to get this process rolling. >> the same day delivery. >> want to know how they are doing it? implementing a new program called amazon flex. you can work for amazon by
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driving those same-day deliveries. i could drive it to your house. i do charge a pretty high rate. stuart: good stuff. same day? >> you cannot forget. walmart nipping at their nails. a lot of other competitors in the game. they say, no way. we will move ahead. stuart: the stock is not up-to-date, but it has been up a lot recently. more from a interview with donald trump yesterday. here is what he had to say. you will find out after this. ♪ ♪ ♪ (singing) you wouldn't haul a load without checking your clearance. so why would you invest without checking brokercheck?
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usaa makes me feel like i'm a car buying expert in no time at all. there was no stress. it was in and out. if i buy a car through usaa, i know i'm getting a fair price. we realized, okay, this not only could be convenient,
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we could save a lot of money. i was like, wow, if i could save this much, then i could actually maybe upgrade a little bit. and it was just easy. usaa, they just really make sure that you're well taken care of. usaa car buying service. powered by truecar. online and on the usaa app. >> if my kids came back on with a tattoo, i would not be totally thrilled. i have never seen anything like it. you look down. everyone has tattoos. i do not get it.
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stuart: neither do i. he said we are swimming against the millennial tide. >> you are. tattoos more popular than ever. it is a free country. choose how you want to decorate your body. stuart: someone came to you looking for a job and they had a visible tattoo. jo ling: i would not discriminate. stuart: it is discrimination? jo ling: it is based on how someone looks. stuart: it is. i don't want it. am i allowed to say that. you have a tattoo on your face. you are not going to get the job. jo ling: now we know. are you in favor of tattoos? i am agnostic about it. it can be a fun expression.
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parlors all across the country. >> they have to be free. they are coping their student loan debt. [laughter] i knew that that would get you. stuart: valley and pharmaceuticals. it is back trading now. ashley, the story. ashley: a report put out by citron research. a short selling firm. distribution system and also questions whether the drugmaker is a pharmaceutical and ron. pretty harsh with their short sellers. a little bit of a conflict of interest. wringing out a company that you are short. a huge impact on 28%. about 30% of its value in
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canada. some very strong words from citroen research. as you point out, they are so short selling. stuart: some breaking political news. here it is. listen everyone. billionaire investor carl like on. get this. committing 150 million of his own dollars. he says he wants to help and the crippling. anymore on this? jo ling: yes, i do. he wants to stop corporate tax inversions. wants to have tax reform to prevent what he calls a double taxing of companies. he believes it will help the u.s. economy and allow businesses to stay here. stuart: a couple trillion dollars overseas. he says bring it back or he wants to try to bring it back.
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using his money to bring that money back, i presume, by a lower tax. ashley: these great companies are either being urged or overtaken. first priority. stuart: 150 million. >> making americans aware of the issue. stuart: i do not remember anybody putting out that kind of money. it seems that there is a rift developing among democrats. you are on the left, i believe. >> i sure am. stuart: this is a split in the democratic party. forget the republican party for a second. your party is split, is it not? >> it is. the question for joe biden right now is has he waited too long.
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you look at certain polls and his numbers are down from where they were last month. people are looking at hillary clinton's improved performance. the way that she dominated the debate last month. maybe there's not such a need for joe biden after all. there is still the question of tomorrow after benghazi hearing, which he do poorly and give democrats a reason that maybe we do not want this to come in after all. stuart: when i saw joe biden, the last time i saw him in public, yesterday or the day before, he did not look like a man who had the bigger that is required for presidential campaign. that is how it appears to me. how about you? >> i feel the same way. a lot of people saw the interview that he did with stephen colbert, whenever that was. saw a man that was raw and
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emotional. that in some ways was really appealing. to me, this is a man who is probably not ready right now. maybe he is in a different place than he was when the interview was done. i think it is something for people to really think about. stuart: i am reading between the lines. you are for hillary, aren't you? >> i actually go back and forth. it should be hillary based. stuart: what you are doing is calculating who can win. who has the best chance of winning. obviously, you want a democrat to win. who do you think has the best chance of winning, hillary or joe biden? >> at the moment, certainly hillary clinton. stuart: can you answer this question? >> spending much more government money create more 4% growth in our economy. >> republicans completely misunderstand this issue.
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most middle americans really want to invest in middle-class americans about whether that is through tax-free college. stuart: government spending. a lot more government spending. creating 4%. you have not told me how you do that. >> you are putting more money in people's pockets. it creates economic growth. stuart: seven years and we have a lousy 2% growth in the middle class is shrinking. why do you want more the same. >> coming from a very different place when obama took office. he was able to say that, but get us to a place where saving jobs a month. economic growth still continuing to lag a little bit. i think that that is sort of understandable. stuart: kristi, you can come back. >> thank you, stuart.
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the future of the auto industry is not in michigan. it is in california. specifically, silicon valley. that requires explanation. ♪ >> on the next kennedy. do's and don'ts for hillary clinton. we will see you at 8:00 p.m. eastern, five pacific. ♪
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that's why if we're ever late for an appointment, we'll credit your account $20. it's our promise to you. we're doing everything we can to give you the best experience possible. because we should fit into your life. not the other way around. stuart: talking about lumber liquidators.
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pleading guilty to charge of illegally importing would. thirteen logan dollar fine and restitution. this has nothing to do with those toxic fumes reportedly coming from the flooring. the future of the auto industry is in silicon valley. not michigan. bring back harry. [laughter] stuart: the car guy. tim cook says, look, it is not michigan. not detroit, michigan, it is silicon valley. that is the future. you know what, i agree with him. >> a lot of the technology coming from silicon valley. it is being incorporated into cars. will they make the car of the future? no. they will enhance it for short.
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stuart: it is not the steel in the rubber in the glass from detroit. it is the parallel parking done for you. that is the value. >> a lot of that hardware is still detroit. the communication technology. the systems that they will be able to monetize and make money on. you will be able to buy apps in your cars pretty soon. that is where silicon valley needs to get. they will also help with other technology as well. massive change, what does that mean? could you change the car industry in two years of the way apple did with the iphone in two years? i do not think so. there will be an exciting car that shows up from some company someday. it drives itself. runs on electricity. not everyone will buy it. not everybody will be able to buy it. we are older.
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i am a little nervous about it. my kids see that, they are growing up with that. when they are 18, they will expect the car to try for them. >> i do not like to sit in traffic. again, it will be a generation time lapse. stuart: give it to me. give it to me now. donald trump transforming the political debate. he is a reality star and he is running for president. >> all of this publicity without leaving home. fifth avenue apartment is his. reality show on stage. he got more face time than any other traveling candidate at no cost at all. ♪
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stuart: all right. at this time yesterday, we had donald trump on the show. watch this. >> starting to imagine it. i do not even like to think about it. i just like to get rings done. we started off with 17 years to have dropped out. i am leading the pack by a lot,
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actually. assuming hillary gets it, she has had a terrible record. i think that we will win that. stuart: in the oval office. that is his response. running a nonstop reality show. look who is here. a man that knows a thing or two about a reality show. host of our rescue. i am saying that he has transformed politics by running an ongoing reality show. are you with me? >> in a sense, yes. he had an audience before he became politician. he is taking this audience with him. he is also connecting. we cannot ignore that. the other day he was talking about how the establishment would turn against him. those are the political interests which he is siding against.
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it all may play to his favor. stuart: why do i feel that you are a bit like trump. you are, you know. >> not at all. i think that he tackles what is ahead of him. he has objectives each day. he achieves those objectives. i understand why he reacted the way he did. he is focused on today's object is. he will move to tomorrow in deal with those objectives. he strategized this in deals with these object is daily. stuart: he has 32% support in the latest poll. first time in a long time he has been above 30%. he is there as of right now. this is in your turf. chipolte. in my personal opinion, i think they sell a lot of very expensive rice and beans.
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they are not selling as many as they were. the stock is down $50. do you think that there is a problem in the first place? >> some of these have honeymoons, almost when they start out. people go in and they try it. then if the menu does not really compel them, if it does not create frequency, and items that you love or something new that you want to try, kicking the tired does not come back again and again. that is what i think that chipolte is going through. they flap. they need some new menu items. when the brand is new, gets a little tired this early, that is a distressing sign. >> i hear that you have gone political honest. lobbying republicans to help save small businesses. >> i am. this is really personal to me. i travel around the country almost 30 weeks of the year.
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four blocks of their downtown was gutted empty. big is this not going to occupy the stores in these little main streets across america. i put together something called the small business rescue act. a city of about 200,000 population has three, four, five consecutive blocks that are commercial space. 60% unoccupied. they would qualify to be a rest use zone. then american citizens who live within 50 miles and higher 60% local employees can open businesses in those zones and paid no profit related federal or state taxes for three years. a complete moratorium. cluster the businesses of together. give them urgency together. they open in the same time. we can reignite main street
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across america. i call it the small business rescue act. stuart: we like the sound of that. combat can tell us more about it. >> i made initial reaches for the candidate. i am really looking for people to adopt it and say the word small business. we open 600,000 small businesses a year. we're closing 720,000. used to be 60% owned by family. now they are 42% owned by family. by creating these zones downtown, it is instilling urgency. let's open now. no taxes to those three years. we can reignite mainstream like the cities that poetry is in. everybody get behind it. main street live the together, optimism does to.
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stuart: you have a compelling message. you deliver it. thank you, john. very serious stuff. the american cancer society releasing new guidelines for breast-cancer testing. screen later and less often. first of all, this new recommendation comes about because, as i understand, a lot of false positives. therefore a lot of procedures later that were not necessary. is that accurate? >> yes. they look to maximize reduction in price can answer while minimizing harm while screening on a large scale. studies can show that earlier screening does not necessarily mean to that. it leads to more intervention. a false-positive mammogram and you see these because of denser
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brass, you may need unnecessary intervention. repeat screening. biopsies. stuart: to you think that this is more of a personal position? i know a lot of women that say early intervention, early testing, that is the key. find it early. >> yes. i tell my patients all the time you are not a guideline. you are a person. i think the power berlin needs to be between a patient and her position. stuart: you have mass confusion right now. what does this mean. >> it is very confusing. hopefully if you bring this question to your doctor, they will help you navigate. and a lot of pushback. we have three big guideline saying different things. stuart: what do you do in your personal practice? >> i advocate less is more. i like less screening. you need to identify who is at
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higher risk or breast-cancer. anyone with a family history or personal history of any cancers. obesity. smoking. radiation to the chest when you were younger. stuart: all of those factors. maybe, maybe recommend early testing. >> if a woman is really nervous, you need to go forward with it. everyone has personal relationships with breast-cancer. stuart: thank you very much for this. all right. the uk. that will be britain's answer to extremism. restrict travel and passports if anybody goes to fight for isis. would that be legal in america? the judges next. ♪
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♪ >> i am nicole petallides with your fox business brief. stocks have been mixed throughout the day. we have watched oil pullback. after the latest inventory report. industrials doing well. healthcare. gm. strong u.s. sales. it did have some recall related charges. we are also watching coca-cola on the move as well. ferrari. a $52 ipo. it has been higher all day long. last, but not least.
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some of the health insurers that have been under pressure. presidential hopeful hillary clinton making comments. skeptical about upcoming mergers. we want you to start your day every day on the fox business network did fpn a.m. 5:00 a.m. all the breaking news. ♪ you pay your auto insurance premium every month on the dot. you're like the poster child for paying on time. and then one day you tap the bumper of a station wagon. no big deal... until your insurance company jacks up your rates. you freak out. what good is having insurance if you get punished for using it? hey insurance companies, news flash. nobody's perfect. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. see car insurance in a whole new light. liberty mutual insurance. everywhere you look, it strategy is now business strategy.?
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stuart: pretends prime minister david cameron. close some radical monks and restrict travel for people that may go abroad to join isis. judge napolitano is here. we did not get much time yesterday. >> the british government does not even respect its own constitutional restrictions. [laughter] stuart: trying to do this in america. shut down a mosque. trying to shut down a mosque. i take it you cannot do that. >> of course not. for a couple of reasons. the government interfering with the free exercise of religion. no matter what it may be contention with, preaching animal sacrifice. human sacrifice, unless they are
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actually doing that, they can preach all they want. >> a preacher converting some to terror. going out there and killing people. shutting that down. very difficult to prosecute for words. it would be easier to prosecute forward then shut down which the words were spoken. focus on an individual. that need is mandated by the constitution. we are in america. this is all about america. hey, you, young man. get out there. a young person goes out there and kill somebody. >> no. you cannot even prosecute the preacher for saying it. if the speaker commands a legal
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activity and there is time for more speech to rebut the command, the command is not prosecutable. you can prosecute the person who commanded it. no circumstances in america could you close down the empire met. looking arguably and outwardly religious. >> going to the other side of the ocean and what they do over there. stuart: we want to stay in america. this is all about you. we knew that xyz have left the country and was fighting for isis. they want to come back to america. can we say get out of here? >> yes, you can. well, there are two ways to look at this. isis is a terrorist organization recognized by the united states government as such. the federal statutes prohibit
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this. fighting for a terrorist organization is obviously providing material assistance. that person, they would not be barred from entering the country, they could probably arrest them. that is the government's ablow now. a young person goes over and listens to isis talk about terror and listens to techniques. that person is arrested. >> it absolutely makes sense. [laughter] >> apparently agrees with you as
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well. [laughter] >> ring it back. judge, we are out of time. thank you. >> pleasure. stuart: the stock soaring today, i am told, is ferrari. it is at 56. investors kind of interested in the brand reach. we have more on that in a moment. or is it today. or is it now. do i keep reading? are you listening? >> i am. you cannot read it because you do not have a british accent. let me do it again. today is back to the future day. october 21, 2015.
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the movie made about her predictions. what did it get right? do not ask chicago cubs fans. >> california. when staff over 21, 2015. we are in the future. looks like some folks have had it with their airline credit card miles. sometimes those seats cost a ridiculous number of miles...
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or there's a fee to use them. i know. it's so frustrating. they'd be a lot happier with the capital one venture card. and you would, too! why? it's so easy with venture. you earn unlimited double miles on every purchase, every day. just book any flight you want then use your miles to cover the cost. now, that's more like it. what's in your wallet? big day? ah, the usual. moved some new cars. hauled a bunch of steel. kept the supermarket shelves stocked. made sure everyone got their latest gadgets. what's up for the next shift? ah, nothing much. just keeping the lights on. (laugh) nice. doing the big things that move an economy. see you tomorrow, mac. see you tomorrow, sam. just another day at norfolk southern.
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stuart: how is this for a story. russell simmons. he runs a prepaid debit card company. thousands of users could not use those cards to pay for food, gas or rent geared was this just a glitch? ashley: a couple of hours and we will get this fixed. nine days now. people walking to work. selling their laptop computers just to get food. all played out in social media. giving all of these extreme things. >> often times this is impacting low income users. stuart: president obama was the best of his life time.
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next case. in the 1989 film back to the future. they traveled to the future. today, october 21, 2015. let's have a look at this. first one they predicted video glasses. >> google glass. virtual reality headsets coming very soon. skype, google hangout, done. this is a big one. not quite. there are hoverboards. you have seen them on youtube. they do work. kind of. stuart: the laws of physics. impossible. stuart: the chicago cubs. >> not quite yet. they are still in it.
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>> barely. >> there is a chance. stuart: down. very little chance. all right. we will have more varney for you in just a minute. stay right there. please. ♪
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>> what is happening is people are using it on a daily basis. issues are surfacing. that did not come into account in our initial review. initially it said that the tesla model s was wonderful. >> the best car that they ever tested. ashley: asking the drivers that were actually using it. a little bit of wear and tear. stuart: i think it is a problem for tesla and consumer sports magazine. >> the stock was down big
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yesterday. stuart: just above 200. $211 a share. >> and suv. hoping to sell to a whole different demographic. stuart: good news. neil cavuto, it is yours. neil: congratulations. all right. thank you very, very much. before i get to the soap opera in washington. the pharmaceutical company is in a world of hurt right now. shares are down 25%. allegations from a shortselling firm. another enron. cooking its books. cooking its sales. the stock taking it on the chin. separately, you have probably heard about this. tioga is recalling more vehicles. this is the foth

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