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tv   FBN AM  FOX Business  August 8, 2018 5:00am-6:00am EDT

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-- from new york. >> does the actually other financing? whether he does or doesn't come if he doesn't have it at the time he should that tweet, he had it secured. he's had a regulatory problem. gerri breaking news this morning, wall street has a lot of question after he treated tesla may go private. did he break the law? >> a big night in politics out of the special house race too close to call. the trumpet gop candidate already clearly the jury. >> the dow up another 126 points
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yesterday. >> disney down half a percent after posting disappointing earnings. let's take a look. dow futures up 10 points. s&p futures unchanged. cheryl: europe stocks opened slightly lower. health care stocks weigh in on some of the indexes there. the cac in the dx and the red. >> another volatile day of trading. the shanghai composite is down one and a quarter%. data on news that $16 billion of new terrorists from the u.s. on chinese exports. cheryl: after its founder resigned, papa john's said it wants to spend 15 million for an image makeover. "fbn:am" starts right now.
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>> good morning to you. it is wednesday, august 8th. good morning i am lauren simonetti. ♪ lauren: i got an image makeover today after three and a half month half. i got my hair done and make up on. this is the best day. cheryl: welcome back. we've missed you. i know the baby is doing great. we've been looking at pictures of little bits here and there. how is ray doing as a big sister? lauren: she's a wonderful big sis care. and mj is so cute. how was your vacation. cheryl: it was wonderful. a little grand cayman. we walked back together in the same wednesday. lauren: in nature thank you to gerri willis who filled in.
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i watch whether it's middle of the night feedings around dvr. this is one tough schedule. you're the best. cheryl: we do begin with the house special election in ohio. still too close to call. republican state senator trey balderson appears to be inching closer to beating back a challenge by danny o'connor. a victory in the race for ohio's historically conservative 12th congressional district would deny democrats the major upset ahead of the november mid-terms. dems are hurt and they came this close in the district to president trump won by 11 points in 2016 even o'connor hasn't conceded proclaiming vick. >> i'm going to promise to you that i'm going to work relentlessly, relentlessly for this 12th congressional district. america is on the right path and we will keep it going that way.
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>> when i decided to go to ohio, he was in early voting. that was not good. after my speech on saturday night there was a turn for the better. a victory during a tough time of the year. he will win big in november. lauren: another race. kansas gop primaries also too close to call this morning. secretary of state chris kovac and incumbent governor jeff koehler remains neck and neck. the democratic senator claire mccaskill and attorney general expected to easily defeat their primary opponents in the battle for control of the senate this november. much more on this primaries later on in the show says they tuned. in more next tuesday. cheryl: we've got a lot coming up. another new shot in the trade dispute with china to tell you
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about. the white house lasting 25% tariff another $16 billion of imports from the country affect at august 23rd of the trump administration announcing $34 billion worth of chinese products last month in response to white house claims that china steals u.s. intellectual property. lauren: s&p 500 second-highest level in history. tesla ceo, elon musk. it sends the company shares soaring 11%. considering taking tesla private at $420, funding secured. shareholders can neither sell at 420 or hold shares in go private. this would be the biggest buyout in history. musk said the move would help us operate at its best free from distraction and short-term thinking is possible. as you know, tesla went public eight years ago in 2010.
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analysts are skeptical they could make a buyout work in his announcement could raise questions with security regulators which we'll discuss in a moment. cheryl: founder and chief analyst at tech research for a closer look at the big news from tesla. does he have the funding? we are going to show our viewers some of them right now. a little vague and i think there's a lot of questions. what do you make of this move from the treats yesterday? >> welcome to the tesla circuits and how professional and mature they were asking on the analysts call on the earnings call and now this. do you have the goods? where are they because the financing was secured in your tweet, but there's no details from the company or even reporters getting an anonymous scoop about who might provide the funding and that is a huge detail to be missing from the picture.
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trying to show that last, hope all shareholders remain. he sent out a memo to the company, to all employees saying he's serious. it seems unheard of the u.s. senate to fund for people can buy and sell every six months. does that even make sense? >> a little bit vague on the details. there's a similar setup with 79, but the structure here is completely unclear. so many unanswered questions. have you voluntarily decide to stay and i take a cash payout. will that require you to put in the difference of the balance between the share price in the 420 offer. where did that come from? cheryl: valid value tesla at $72 billion at 420. there has been some root ports that because the saudi investment fund had taken a 5% stake that maybe it was the saudi's. do you think that's a
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probable -- a leverage buyout needs someone. maybe it is chinese investors. there are absolutely no details here and this is completely unconventional. normally these things are announced after the fact. after it's a done deal and we have been disclosing a very specific price with no details which opened up a legal minefield. cheryl: the tax implications. if you look at it, catholic answers 2825%. that could really kill some folks on the tax side. >> a would agree if you surrender your shares in go into the private company of the attacks raised change. if you take it off the table, you are looking at paying high capital gains taxes. cheryl: luke on the thank you for covering the developing
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story. >> it's not the first time elon musk floated the idea of a private tesla. an interview he did with rolling stones in november of 2017. this is a quote. i wish we could be private with tesla. it makes us less efficient to be a public company. the legal question is, did he violate security regulations with these public statements. attorney david bruno to discuss. real simple, is his announcement on twitter, did not break any laws? >> first off, welcome back on. glad to be the first interview here. lauren: you get what i'm going through. >> i do. no violation whatsoever. this could trigger an unfair disclosure. let's start here. a 2013 case it's not like the io where he had a facebook post and in europe with selective
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disclosure. regulators came into the investigation and said, number one, the companies can post on social media so long as investors and the public know the place to disseminate information. the company does have a filing that says they will post information on social media and specifically identifies the twitter handle as a place to do it. it's not an unfair disclosure. lauren: these can say funding secured. they would have to say you should not does not. i'm thinking about taking tesla private. can you prove this was intent on manipulation? >> they would have to prove intent to manipulate. that's a difficult thing to prove all throughout our law.
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this should be a civil action brought by the securities commission. however, he had several lines to a magazine article last year. he also put out a very detailed blog post which makes sense. he has a rational basis to do it. i find it very hard that they would go that way. however, it is very specific. if the funding is not secured another could be a possible misrepresentation. tons of people but short of this talk, lost a lot of money yesterday. sunset elections by the people that lost money. >> musk has always said he has beef with those short in stock. so good to see you. my first guest as he sat on twitter post maternity. cheryl: we've got a lot more coming up on the show this
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morning. president trump has dinner with business leaders and touts his economic accomplishment. >> at any time in the history of our country. train to the president made a prediction for cemex posted economic growth. and then there's this. it's called snap dysmorphia. people telling plastic surgeons they want to look like they're filtered southeast. stop it. taking a look at futures right now it dallas up by eight in the premarket. s&p is down a point, nasdaq down one and three quarters. you are watching "fbn:am." ♪ where we're changing with contemporary make-overs. then, use the ultimate power handshake, the upper hander with a double palm grab. who has the upper hand now? start winning today.
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lauren: good morning to both get too caught up on what's happening out. download five points for days in a row to s&p dead flat in the nasdaq down two points looking at the premarket. california firefighters gain some ground in the northern part of the state but the record-breaking menacing a complex fire continues to rage on 450 square miles the largest ever recorded in california and it will likely burn for the rest of the month. some 14,000 firefighters are battling fires across the state.
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president trump with dinner with business leaders last night at his research in new jersey where he taught gdp and made a pretty bold prediction. >> a four-point one would anticipate. [inaudible] lauren: bring it on. the president spoke about is trade spat with china calling it a little fight. 25% tariffs on additional $16 billion in chinese imports was finalized yesterday. far left candidate for congress candidate had slamming democrats that rely on the upper middle class to give you a day. >> is like upper-middle-class is probably more moderate, but it doesn't exist anymore in america. tranter research shows the number of upper-middle-class
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household is actually more than doubled since 1979. cheryl: cheryl: she's something else. disney releasing the third-quarter earnings that fell short of analyst expectations. lauren: good morning to tracee carrasco. making news this morning. >> good morning. good to see you. bloggers in the cost of tickets and food prices, there wasn't enough to offset the increased costs which led to adjusted earnings per share that missed expectations. 7% to about $15 billion also missing forecasts. shares of disney in after-hours trading. >> papa john's reporting trade-ins? >> sales took a huge hit in the recent quarter and for the month of july at the company dealt with the resignation of founder
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and chairman john schneider, shares fell by 11%. the company says it will spend $50 million this year on advisers and consultants to remake an image and handled the aftermath of the departure pitcher is a papa john's followed by as much as 12% in after hours trading. yesterday down 24% year to date. cheryl: they cannot recover from those scandalous head. >> following the trend we've been seeing with social media companies reporting earnings. despite growth for the quarter, snap said revenue rose 44% from a year ago to $262 million. the company reported losses of $353 million which is lower compared to a year ago. shares of snap jumped almost 11% but quickly fell into negative territory after the company wouldn't give clear guidance unexpected user growth in the third quarter.
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plastic surgeons see a trend of people bringing in their own self is coming usually edited with a snapchat filter asking to look more like their photos. it is on a snapchat of dysmorphia and is growing concern about the negative effect this has on people's self-esteem. people no longer bringing in pictures of celebrities. they are bringing in themselves that they're filtered. lauren: do we know what age group are mostly end? >> this is a study from charlotte. interesting reports in this is a growing trend of people getting plastic surgery. lauren: a lot more coming up in the race too close to call, but the ohio special election. already claiming fake to read. >> america is on the right path and we are going to keep it going that way. lauren: what does this mean for the midterms? a dog days of august to send in
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the nation. fox senior meteorologist janice dean tells us if there's any relief in sight. but show you how your investments are doing this morning. immediate start to the day up six points for hire for the fourth day in a row. s&p half a percent away from record territory completely unchanged. we will be right back. at fidelity, our online u.s. equity trades are just $4.95. so no matter what you trade, or where you trade, you'll only pay $4.95. fidelity. open an account today. ♪ ♪ fight security threats 60 times faster
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your children and family are beautiful, beautiful. i want pictures later on. let's look at the current temperatures right now. hot along the coast. heat advisories up for new york city, parts of connecticut up towards the northeast and that is because it's going to remain hot and sticky throughout the day today. good thunderstorms last night. injured a lot of people with the lightning and potential for more thunderstorms later today into the sort of summertime thunderstorms mix over the next couple days. you can see with the heat index will be oppressive yet again for the mid-atlantic to the northeast of the extra careful. hurricane hector major hurricane is going to be south of hawaii. that is the good news and of course i will continue to move towards the less, but hopefully away from land which is the way we like it. showers and thunderstorms for the eastern half of the country warm and dry for the west. lauren, cheryl.
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i love you cheryl, too. but today's a special day. cheryl: it is a special day. thrilled to have her back. we've got a lot more coming up. bad news for uber drivers and their customers. new york city to pass the limit on the number of drivers on the street. delta air lines wants to trade economy class customers like first-class. champagne, anybody? looking at pictures this morning. mixed bag with a flat opening. s&p down to four points or nasdaq down one and three quarters. viewer watching the "fbn:am." and got more. more? got a company i can trust. that's a heck of a lot more.
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>> does he actually have the financing? whether he does or doesn't come if he doesn't have it at the time the issue but treat, she
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had been secured. lauren: breaking news this morning. more questions than answers for tesla ceo elon musk after he pleaded tesla may go private. did he break the law? tree into a big night for politics at the special house race in ohio. dave trott back gop candidates. transfer earnings could develop another 126 points yesterday. train to disney down half a percent after posting disappointing earnings results that could wear in stocks today. features in the red. s&p down one. nasdaq down three and three quarters. lauren: stocks trading lower on earnings news. weighing on stocks overall. the cac in paris down five points. dx and germany down 20. cheryl: in asia another volatile day of treatment in china.
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$16 billion in new tariffs from the u.s. and chinese export. >> a critical vote in new york city for uber and lyft. will they limit the number of drivers on the streets. "fbn:am" continues right now. cheryl: 5:30 a.m. in new york on wednesday, august 8th. i'm cheryl casone. lauren: hi cheryl. i'm lauren simonetti. straight to the big news overnight. still counting the ballots. too close to call at this hour. results in four other state primaries. cheryl: griff jenkins is live in washington will break it down for us good good morning, chris. lauren: good morning, cheryl. welcome back, lauren. too close to call the special election where the president paul is on the line.
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separated by less than a point, leading by less than two dozen votes backed by the president he sounded optimistic. >> i am going to promise to you that i'm going to work relentlessly, but that was slated 12th congressional district. america is on the right path and we are going to keep it going that way. >> o'connor vowed to fight on. >> we are fighting for a better america. we went door-to-door. we went house to house. we are going and make that change tomorrow. we are not stopping now. >> some 8000 potential vote tally and they will begin counting those on august 8 teams. to kansas we go. too close to call president trump's pick in a tight race against incumbent governor jeff
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callier. razor thin but if it holds of a delivery primary upset. the winner will face democrat state senator lauren kelly. michigan president trump is congratulating the gop primary for governor treating congratulations. you will have a big win in november and be a tremendous governor for the great state of michigan. gretchen witmer in november. the senate race iraq war veteran john james backed by the president will face democrat incumbent debbie started now. another show mistake of attorney general facing claire mccaskill in one of the most hotly contested senate races in november. it may be hot outside. maybe i've just come up. maybe august, but it already feels like election time. lauren, cheryl. cheryl: griff, thank you very much. democratic strategists hide the
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con. i want to go through, guys. good morning. >> good morning. welcome back, lauren. cheryl: it's great to have you back pitches seen thank you silently. let's first start with you in the story with ohio. your party is actually pretty excited about the fact this team so close and we don't have a result yet considering this is for four decades. >> absolutely right, cheryl. carrying this 8.9% of the south 8500, 8400 ballots to go is a good sign. there should be a rematch in november. it's not like whoever wins this election tonight or today rather is going to be the official member of congress and the next congress comes together in january. it could very well be the seats which is again been the best part of this is there so little support for donald trump coming
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out in the district in ohio. this is likely to be a trend story. >> what you say? it's pretty surprising overseeing in ohio which is so conservative. >> to shift the president is doing better politically than he was at the time we had a prior special election could affect its so so close to the republicans will win the special election shows that donald trump is doing better with republicans but 90% of support. the economy is doing independents and moderates elected into office in the first race to come back around and say wait, these things are paying off for having taken this risk on the president. i don't think it's necessarily a stress aggravated to politics that donald trump, but generally speaking the trend has favored democrats to garner house seats in the election.
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>> i do want to ask you and ask you about the kansas primary. you've got to republican candidates. donald trump did indoors kobach. it looks too close to call, but another story of the president's endorsement help or hurt. >> i think it absolutely helps with this space. the president is being called to texas to campaign for ted cruz. this is a sinner with the bases highly motivated good to finally feel as though they can speak up in the way they did in the prior election in 2016. the president is going to continue campaigning, having rallies in which he now sees is having an impact on us is the case in ohio. maybe ted cruz would get her wish come true then push them over the top. >> i want to ask you about michigan, a democrat story will talk about.
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gretchen witmer is expected at this point to win the nomination for governor. abdul ousley had which was part of the younger socialist democrat wing that we've seen emerge within the party. what does this tell you? >> you ask me when it comes to michigan. and she has no republican opponents. elected to the u.s. congress. that's a big story here. all three of them running in what is called the blue wave of michigan. >> just asking about the socialist movement in the party.
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a national headlines. real quick response for you on this. >> with socialism is a thing of headlines and they have a major issue they've got to deal with, to will isolate the majority of americans. cheryl: glad to have you both back. thank you very much. we have a critical vote in new york city today that will decide the amount of ridesharing cars on the street. cheryl: tracee carrasco joins us with more on that. the blood is boiling. >> we are watching this closely because the new york city council will vote on legislation to cast a number of vehicles like cooper and lyft. this comes as a number of these vehicles drastically increase in the last few years adding to the congestion and decrease in the
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value. other similar services have pushed back on the proposed regulations claiming that a cap would drive up prices and limited availability of cars. lauren: i'm actually okay with it. there's too much traffic that there's congestion everywhere. >> i rely on this. cheryl: that's my ride. it's going to be tough. let's talk about apple. they say they are not listening to our conversations. >> they say that. i phones do not listen to users without their consent or allow third-party apps to to do so either. this after lawmakers ask if devices were invading users privacy following a report that smartphone could collect data from users conversations. a smartphone in order to your trigger phrase like a commissary. always wondered this. lauren: after fine in economy
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delta, it might not be so bad after all. delta passengers flying between portland, oregon and tokyo, japan will be part of bringing those two economy passengers. according to the chicago business journal. they will receive welcome bubbles that we would get a printed menus like like appetizers can make salad, entrée options for dessert, they could roll that out. >> you would have to pay extra for them i'm sure. go find a way to charge us for it. it just makes the time go by. a bidding war has broken out for the "brady bunch" house.
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how a herd of cows helps police actually kept catcher feed it really happened. ligatures stock index futures with a negative start to your day. s&p is down three quarters of the plane. nasdaq down three and a quarter. you are watching "fbn:am." ♪ a scratch so small you coulda fixed it with a pen. maybe you should take that pen and use it to sign up with a different insurance company. for drivers with accident forgiveness liberty mutual won't raise their rates because of their first accident. liberty mutual insurance. ♪ liberty. liberty. liberty. liberty ♪
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jardiance asked: when it comes to managing your type 2 diabetes, what matters to you? you got a1c, heart, diet, and exercise. slide 'em up or slide 'em down. so let's see. for most of you, it's lower a1c. but only a few of you are thinking about your heart. fact is, even though it helps to manage a1c, type 2 diabetes still increases your risk of a fatal heart attack or stroke. jardiance is the only type 2 diabetes pill with a lifesaving cardiovascular benefit for adults who have type 2 diabetes and heart disease, significantly reducing the risk of dying from a cardiovascular event and lowering a1c, along with diet and exercise. this really changes things. jardiance can cause serious side effects
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cheryl: welcome back. take note to future slightly lower. s&p down three quarters of two enough in the two markets. whole foods introducing orders for the first major change amazon has made since it began slashing prices for prime numbers back in may. they will have reserved parking spots for customers to place online orders. a bidding war for the "brady bunch" houses over. hdtv has emerged as the liking of honor. the tv network out vague boy band or lance bass. the starting price of almost $1.9 million will be featured on one of their shows, the home improvement shows on hdtv. a herd of cows assist police in
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making an arrest. the utterly awesome video. just the cows staring after she jumped out of the solar collar, ran to the pasture. this happened seminole county, florida. they arrested her and two other people. and that's what happened. >> this is unbelievable, too. trump is talking up the economy. he says 5% gdp pretty soon. it starts to feel or continues to fail. idiomatic or president joins us now. good to see you. it's really good to be back. if you like my old self again. the next catalyst up for stocks. the s&p 14 points from a record high. what's going on here?
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>> it's the same thing that i've been alluding to for the past few months. the excitement i have for technology. companies like google and amazon are at the forefront. self driving cars. there is talk about a b. everyone. no one has a car and it's all self driving cars in order to save lives and become more efficient. the technology boom like we were in the mid-to-late 90s. >> so goes the overall market and that brings us to the tesla story. let's talk about politics because i'm curious. how much investors are paying attention to what going on in washington right now. we do know that midterm elections generally lead to
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lower stock prices. >> just as soon as i get up in the morning at 4:30 for example, i pick up twitter into the president trump has treated and then i try to ignore it for the rest of the day because what it is all come down to a seesaw in this last earnings. it all comes down to earnings. we don't know what to believe. is there going to be a trade war with the e.u. or no terrorist? it is very tough and so policy is enacted to base any kind of investment decision on that. just look at the companies in the economy and right there i think everything is very polished. ignore the headlines. >> headers sent donald trump as well as elon musk fruit baskets, gift baskets every week. before we go, do you think as an investor, do you think investors
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think democrats can retake the house? >> i do not. i think that, you know, just like the republicans were underestimated gore trumps most underestimated during the last presidential election, they are getting over excited remained to be seen. the next thing will come. until then, congress is pretty secure. >> thank you so much. thanks, lauren. nice to see you. >> annealing controversy is not over for the nfl. a major star has political advice for players. this time quarterback aaron rodgers is playing in. for the first time in history a wnba team of the game. looking at futures right now as you can see we've got a slightly lower kick off this wednesday. dow down two. s&p down three quarters of a
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point. you are watching "fbn:am." when it's too hot to work, we work. too wet to keep going? nah. this is the gator xuv835. with game-changing heat and air and three-wide seating. it's never too anything for anything. nothing runs like a deere. get $400 off the gator xuv835m at any participating john deere dealer. where we're changing withs? contemporary make-overs. get $400 off the gator xuv835m then, use the ultimate power handshake, the upper hander with a double palm grab. who has the upper hand now? start winning today. book now at lq.com.
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>> welcome back. green bay packers quarterback aaron rodgers has a message for nfl players. lauren: good morning, garrett. >> welcome back eddie look absolutely fantastic. as to you, cheryl. there is something that hasn't changed since he left.
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while packers aaron rogers publicly voiced support for lebron james, not responding to a tweet about him since last week or president trump he called the nonresponse quote absolutely beautiful. nfl players when it comes to recognizing their responding to traits are common on the national anthem. he says they think the more we could do stuff like that tomorrow will live on. if we can learn to ignore it it takes away the power giving attention to that. that's what they want. just don't respond. lebron james will be playing christmas this year again. oakland between the browns lakers and the two-time defending champion warriors. other games include celtics sixers. last friday the wnba las vegas around 26 hours travel time because the flight cancellations and delays to get their game in
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washington d.c. around for hours before tipoff and they decided not to play. they spoke with the union and cited concerns of health and save you. they ruled the game is a forfeit, the first other in history. now something funny. a major leap or portion monday night. this is by not for her the farm go or had red hots for a third strike showed where he thought he belonged in a one-game suspension. >> just a friendly reminder to all fans. please find a home in the nearest garbage can. >> i've never seen one before with the garbage can. >> this is really good. was it a real psa? i don't anchor was.
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nothing like a good meltdown. welcome back, lauren. >> i leave them in every studio. train to thank you could catch sports of what the foxes had nine 24/7 sirius xm channel 115. tranter exports rising more than expected in july despite the start of u.s. tariffs. a look at what is ahead for china's economy when we return. ♪ (vo) progress is in the pursuit. audi will cover your first month's lease payment on select models during summer of audi sales event.
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lauren: of despite higher u.s. tariffs. good morning, peter. when will they start to impact china? >> obviously we didn't have the tariffs in place for the month of july. so that's one thing. the other problem that don't necessarily occur in the same month the goods are delivered. another complicating your. takes a while for things to disentangle themselves. in the short-term the u.s. isn't the only market the china expert do. i think in the long run it will take time to manifest it felt.
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cheryl: thank you so much. we say it again. we would like to welcome you back, lauren of inanity. we want to show our viewers obviously why you were out in take a look at gorgeous mj. that face. lauren: that is him at the beach. we were at the beach so much this summer. he's a very good debut. for all my friends who never told me that boys are easier than girls. it is true in my experience. why didn't you warn me? cheryl: what about sleep? then i slept a lot on maternity. what will happen start today? lauren: will not be sleeping. our hours are crazy. i'm the only person this as i sleep on maternity leave. waking up in the middle of the night. we were to point pleasant on monday, our last iraq. that is what that picture is right there.
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cheryl: you got your beach anytime dear billy welt. you had some summertime days to go out and get yourself some family time. lauren: i promised right i would get her some special attention. to watch this later and dvr. cheryl: dataset or "fbn:am." over to maria bartiromo. >> we will see you in a few minutes, lauren. welcome back to you. it is one day, august 8th. top stories before 6:00 a.m. on the east coast. tesla's wild ride. elon musk with just one tweet. muskie dropped a buyout bombshells through twitter as he looks to take the company private. the follow up this morning coming up. president trump doubling down economic policies come the second round of chinese tariffs that could affect this month. we will see even faster growth.
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[inaudible] >> a closer look at the trump economy coming up. the business climate later this hour. features showing the knicks opened this morning with the dow investors up one point. s&p 500 index back down fractionally this morning. across the board yesterday on wall street announced back in s&p 500 are within striking distance of their all-time highs. less than 1%. a bit of a mixed story. 39 points. the dax are lower. asia overnight mixed performance is to show you as you see here. the biggest mover down one and a quarter% overnight in china. ambushed

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