tv After the Bell FOX Business May 30, 2019 4:00pm-5:00pm EDT
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it was a little bit of a head fake. [closing bell rings] there is pessimism out there. you stay with high quality companies with good earnings, this are not too expensive. you will be fine. liz: great advice. craig hodges. green on the screen. hand it off to "after the bell." connell: uber is expected to release quarterly results first time we have heard from uber as publicly-traded company a lot of anticipation there. connell: good to be with you i'm connell mcshane. melissa francis i'm melissa francis this is "after the bell."
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melissa: a new expert is sounding alarm on essential drugs. have you heard about this? what you need to know what is inside of your medicine cabinet and how truss it might be. president trump firing back at robert mueller once again, saying there was no collusion, no obstruction. we have the latest on the fallout from the white house. the nexstar wars adventure is next. connell: look at deirdre bolton. at that doesn't seem fair. melissa: no it doesn't. connell: deirdre bolton is in the newsroom. edward lawrence, kristina partsineveloss reporting on trade. gerri willis reporting on new york stock exchange. edward, start with you. what do you have? reporter: vice minister of foreign affairs calling what the
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u.s. is doing naked economic terrorism. commerce ministry is saying u.s. is trying to bully into a trade deal. he says china will not give in. hardening of tone coming from china, u.s. posturing, since u.s. trade representative robert lighthizer that china backtracked on almost every concession they agreed to. two federal reserve presidents says companies are heading back to capital investment how trade dispute plays out. ceo of walt disney says it will work itself out. >> so far we're seeing nothing. long term i might have concerns what happens with trade. i'm not losing slope over it. as i look ahead, think about things i should be worried about, things i should focus on, that would be one of them. reporter: chinese tariffs upping 5%, from some cases 10 to 25%. president trump is prepared to put everything china imports under a 25% tariff.
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>> china would love to make a deal with us. we had a deal and they probe the deal. i think if they had it to do again they wouldn't have done what they did. reporter: u.s. trade representative robert lighthizer told us china pulled back every concession they already agreed to. he is not willing to go back to start the negotiating process over again. connell: edward lawrence in washington. we're joined by "axios," markets editor, and francis newton stacy. the idea that as edward says this china dispute being around for a long time. interesting to hear people like bog -- bob iger at disney how they should position themselves at this point. how should they? >> i think it will be around for a while. the full effects of the tariffs if they additional tariffs doesn't go around until august. we have a catfight where we're punching each other in the media
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throughout the summer. i wish, i actually think trump should go to xi, do whatever he can to allow xi to save face. connell: save face. >> not publicize things xi does not want to make public, any intellectual property laws changed in china. i think that is the quickest way to get things resolved. face facts, longer it goes on, more people get hurt. i understand the "art of the deal," but we're negotiating with the chinese. connell: we'll see if that happens. market have been interesting to watch. stock market is one thing. a little bit of a bounce. signals with the bond market with inversion of the yield curve. you wrote something interesting, people always say this time is different. they're saying it again. a lot of times it is not different. so what should we expect? >> the old market aphorism. this happened every single time past 40, 50 years, every single time yield curve inverts, but
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this time. connell: they are saying it again. >> it mirrors what people said in 2006, when the yield curve inverted back then. seems like a lot of folks have not learned lessons of the past. what they were saying in 2006, is what they were saying in 2000. connell: let me interrupt you. we have the results from uber. just out. susan li in the newsroom. susan: revenue coming in a little better than expected. we're looking 20% epcrease from last year. revenue coming in at close to 3.01 billion. let's call it 3.099 billion, a little higher than what the market penciled in for the quarter. when it comes to profit, in line. pretty much met expectations. gross bookings was up from last year. gross bookings basically the amount of ride-hailing uber booked into the first three months of the year. that is close to 14 1/2, let's call it 15 billion-dollar clip. say the report card hit on
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higher metrics of expectations. they did pretty well. we're looking for guidance in the next quarter as well for revenue and earnings per share as we're look at a loss of over a billion dollars or so. guys? connell: not much movement in the after-hours for the stock at least so far. the panel is back. i interrupted deion. i let you go first. francis is here. susan is with us, melissa will jump in. the idea susan said they did well, is relative. everybody expected them to lose a lot of money but revenue figures seemed pretty good. what do you think? >> if you're a believer in uber you're believer in the story this is the nextwave of transportation. these numbers in line with estimates not losing a bunch more money. there were worries perhaps about that. uber this is story where you have to believe the story. you have to jump in say, you know what, they are losing a lot of money. they said in their prospectus they may not make a lot of
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money. in the future we think this is game changer in the market. they're not losing exceptional amount of money. meeting on what with expert expected that self did good news. melissa: let me give you two stats that jumped out to me. if susan mentioned these, 17 million trips a day. that is staggering number. the other is gross bookings up 34% even as more people try lift, there is more competition. they're seeing growth. connell: definitely talked about that, susan, the gross bookings. >> i did. connell: it is always hard. more difficult with company like uber that hasn't been too public to put the numbers in any sort of context. >> it is big, when you look at monthly active platform. on supers are reporting number of 93 million users. don't forget uber in some ways is more diversified play than lyft. they also have uber eats which
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by the way saw huge growth when it comes to revenue. that is 20 billion-dollar business. you have freight, self-driving as well. it is agra petitioned for you. -- aggregated. connell: guidance is key with any of the companies. the idea that deion brought up, francis, if you're betting on uber you're betting on uber. one of the things people bring up the cost structure at uber until you get the to the point you lower cost, not paying drivers as much, or raising prices but long term the talk is getting to point where there are no drivers, it's a self-driving mechanism, that is the point where uber can take off. who knows where that is. where do you think even if that is strategy for uber long term? >> i think that is the long-term strategy. eventually that will be very profitable but i think it's a long ways off. remember the cost instructly completely changes. now you're not paying drivers but you own the fleet of cars. you have whole other insurance liability, thinks like that.
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i will say in the short term, talking about the yield curve inversion, in the short term these new ipos are coming out late cycle, very typical. you have lots of ipos, this happened in 1999, 2,000, clicks to the website, kicks to the website equals valuation. it works early in the cycle. late in the cycle without traditional valuation metrics these stocks become vulnerable, however, if you're in there for the story, long term i think uber will do very, very well. connell: i make one point about uber. susan talked about it. a lighter point. uber has the new system, where they think about, rate the drivers and they rate us back. >> that's right. connell: they're thinking been bag individuals with a rating too low. >> significantly. connell: i know the answer to this. one person in this room going to shock you. i will go first. my rating is not great. my rating is 4.7. i'm disappointed. i tip like crazy.
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>> i don't leave trash. mine is 4.78. connell: melissa. melissa: i'm 4.72. >> i'm 4.87. melissa: but i cancel when they're not actually coming. connell: here is the breaking news. checked this before the show, deion. we checked on his phone, we didn't believe it. what is your rating. tell everybody? >> i got a perfect 5.0. melissa: what a nerd. showoff. connell: one uber ride in his life. melissa: showoff. i want to see it in writing. [laughter] connell: thank you, guys. melissa: oh, canada. vice president mike pence is visiting america's neighbor to the north, meeting with prime minister justin trudeau to talk a trade war with china and new nafta. kristina partsinevelos is here with the late-breaking details. >> we stand on guard for thee. win, win, win, that is the words
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we heard echoed by vice president trends and prime minister trudeau. they had a press conference where they discussed nafta 2.0. they call it that way in canada. we know it is the usmca. there was a lot of optimism. the issue canada wants this ratified as soon as possible, parliament, house of commons is breaking for summer. they have to worry about their own federal elections. we had news too that mexico announced they will try to ratify it through the senate even though the senate is closed at the current moment. they too want to get the ball rolling. where could the stonewalling happen? here in the united states by congress. this was major issue asked by vice president pence at the press conference. listen to what he had to say about congress. >> i'm here today, not only to reassure the prime minister and the people of canada that we're driving forward on the usmca but to send word home that amidst all the other issues washington,
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d.c., spends its time on this is an issue whose time has come and congress needs to act. reporter: there are some issues with nancy pelosi, house majority speaker, announced concern about labor enforcement, making sure workers in mexico are getting $16 an hour. congressional members are heading to mexico last week. latest story in the past few minutes from "the washington post," they're reporting from their sources that trump or the president is going to trigger a process that could accelerate this usmca vote in congress within the next 30 days. definitely increasing tension with the democrats. back to you guys. melissa: kristina, thank you for that. catering to your online shopping habits, fedex will begin delivering packages on sundays starting next year. deion and francis are back with us. this is what i don't understand about this they say this is an effort to lower costs.
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that they are delivering to the doorsteps many package as that they were currently leaving at local post offices. so i don't know why doing the last mile would cut costs. they think there will be doubling in the small package shipments by 2026. it comes at a time when their express business, they say the rush delivery is slowing. so what do you think of this overall plan? what's your take? >> to me this signals a desperate move to compete with amazon. amazon is rolling out its own fleet of delivery. they're looking to challenge fedex, ups, u.s. postal service in terms of getting packages to you within a day, 24 hours. they have the drone fleet supposed to be coming out. fedex understands they have to do something, take some drastic action f they can get packages to people on sunday, if they have to do that, we will get you packages within 12 hours, they will do that. this is private business stock price as you saw has been falling. they have to take some action.
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i guess they figure will make up the market hole. melissa: francis, i didn't realize amazon would deliver your packages. i thought they were going to deliver their own packages. deion, is that what they're saying? no, they want to keep the business, okay? >> people order through amazon, amazon will deliver those packages rather than going through fedex. melissa: francis, what do you think about this? this is an interesting change because it does address the way that people shop online. that you're home on the weekend to get packages. during the week a lot of people don't have someone to receive it. so this is a better service? >> it's a better service. i have recently started getting my packages on sunday, particularly if i'm flying to new york on monday morning i'm really excited about that. this is a race to compete with amazon, completely agree and they will figure out the cost structure later. they needed to get the public announcement out to stay competitive. what i will say moving to the late cycle, the dow transports
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suffered a little bit this year, and are very sensitive to the selloffs. they are sensitive to business and commerce and late cycle, things slowing down. ultimately comes to the stock price of fedex, looking to the economic cycle if they canusines model. they have to figure out the cost structure internally and they have to compete. melissa: great stuff. good information. thank you. particularly good duo. connell: i'm a little distracted and thrown off by the fact that i have the lowest uber rating in the group. melissa: i don't know that i believe some of those numbers, deion. i'm kidding. i'm kidding. connell: fake news. as we continue, a lot more to come. mueller investigation is over. the fallout especially in washington continues. we're live at the white house with some new comments from the president on that. then the judge joins us andrew napolitano. fox news senior judicial analyst joins us to respond next. melissa: putting american astronauts back on the moon in matter of years.
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nasa hand-selecting companies to make it happen. we're speaking with someone printing 3d parts for engines and space rockets. connell: that is pretty cool. some of your daily medications could be from china. officials are warning by our dependence on that nation, calling it a national security threat. you have details you don't want to miss out later on in the hour. ♪
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connell: more breaking news. this time costco reporting third quarter results. let's go to gerri willis. reporter: costco beatings on top and bottom line. $2.05 per share. better than expected 1.82. this is a company that analysts have liked all year long. the stock is at 52 week period up 24.5%. up year-to-date up 18.5%. we're looking for numbers on membership and this store traffic. this company invented subscription renewal. comp sales up 5.5%. that is a very healthy number for costco. that is an important one. retail investors look for comp store sales growth, stores open
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a year or more. but the bottom line here, beat on both top and bottom line. estimates was 1.82. they come in at 2.05. very good indeed. back to you. connell: gerri, thanks. melissa: calling him highly conflicted, president trump doubling down on his criticism of robert mueller earlier today while dismissing the possibility of impeachment. blake burman live at the white house. blake. reporter: after we heard from robert mueller yesterday, this is the first time we heard from president trump on camera to get his reaction. you're right, he described robert mueller at one point conflicted. he also believes that mueller is quote-unquote, a never-trumper. on the other hand president held up robert mueller's report to show in his words, there was no collusion, no obstruction. the president noting he wasn't charged with a single thing. the president also tried to draw a parallel or maybe not a parallel between the proceedings as related to himself and
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bill clinton. watch. >> there were no charges, none. if you look at, if you look at bill clinton, that very nice gentleman who has been so much on my side, as you know, his special prosecutor, it was guilty, guilty, guilty, guilty, guilty. so many guilties. with me there was no guilty. reporter: for the first time today the president also acknowledged that russia tried to maybe the president the benefactor of its influence campaign in 2016. at one point the president tweeted out this, saying in a tweet, quote, and now russia has disappeared because i had nothing to do with russia helping me to get elected. but when reporters asked him about that very tweet, the president then backtracked. >> no, russia did not help me get elected. you know who got me elected? i got me elected. russia didn't help me at all.
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reporter: the president also teased there would be a big announcement coming today, most likely tomorrow, as it relates to the southern border. the president when asked about said he it would not involve closing the southern border. melissa: quite a tease. blake burman, thank you. connell: never a dull moment. the judge with us andrew napolitano, fox senior judicial analyst. host of "fox nation"'s liberty file. join us from washington. not much going on from washington. >> oh, boy. connell: we as we always bring n for astute legal analysis. >> the president is quite correct he enjoys the presumption of innocence just like anybody else. he is not fornally or informally charged with a crime and bob mueller is no longer an employee of the federal government. you're quite correct, this moves
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from the legal to the political. he is in zero legal jeopardy from, and as a result of the mueller investigation. whatever you think of it, was there some evidence of a conspiracy but not enough to prove built? were the charges of obstruction of justice valid, legal charges, which would have been brought against a person who is not the president of the united states? all of that is academic because you're right, it is now political. connell: right. but it could be used -- >> mueller said yesterday, teed it up into the court, if you will of the house democrats. connell: all what you said could be used as a political argument, right? >> yes. connell: you're using that legal basis to make it. is it a strong one, in your view? i heard people say already if you're going to make an argument to impeach the president on the basis that he obstructed justice, that the problem is that there is no underlying crime, in other words there was no conspiracy with the russians, so there is no underlying crime
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that he obstructed. would that affect the impeachment argument, do you think. >> no, i don't think it would, because the house of representatives twice, at least in my lifetimes i've been around longer than you guys, found obstruction of justice whether the president was involved with the underlying crime or not is impeachable offense. for example, richard nixon was accused of obstruction of justice by directing halderman and to lie before a grand jury. in the bill barr theory, that you have to be involved in the you know lying crime, nixon would have to be one of the watergate burglars. same thing -- connell: sorry to interrupt, does it matter there was at least a underlying crime, there was watergate break-in. >> i don't think it matters for the political process. barr's argument, very few people make it, his own doj doesn't accept it, that is legal and academic one. i don't think it would matter. it is interesting that you raise that, the president said, quoting him, the courts would
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never permit me to be impeached. the courts have no say whatsoever in impeachment. under the constitution it is exclusively a congressional function. there isn't even an appeal from anything congress does with impeachment to a federal court. connell: last thing, our chad pergram, always excellent reporting up on capitol hill, he was saying this is long way away being a political reality. only 44 members of the house need to support it. you need far more. what is the talk from people around today? is there lot of momentum building towards this or a lot of talk from people like us who have nothing -- >> congress is out of town. i'm just down here with our colleagues. so our contact with members of congress is minimal. you will get a lot of buzz chatting next week. but chad is correct. if they take the watergate model, sam ervin, committee, a both committee from the house and senate that investigated watergate, that went on for a year before the house judiciary committee even started its work.
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so chad is quite correct. nothing is going to happen tomorrow and it is going to take a long time for any of it to happen. connell: we're a long way from wherever it is we're going. good to see you. we'll see you when you come back from new york. >> pleasure, guys. melissa: tornadoes tearing through communities. we're up close with a look at the damage. the latest on the record flooding in arkansas. a potential national security threat. america remains dependent on medicines right now from china. some you may not, some you may have in your home right now, prescription drugs. from pain medications to cancer treatments. why experts are now sounding the alarm. ♪ ♪♪ ♪♪
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the company's ceo quote this quart was extremely challenging. yeah looks like it. uber flat after following the first earnings report as a public company. the company reported a billion dollar loss despite a 20% rise in revenue. connell: a national security threat. experts warning about medicines that come in from china. fox news correspondent bryan llenas has details on the story. reporter: connell, experts warn we become way too reliant on china to medicines, painkillers, antibiotics, can be sourced to a country the department of defense recognizes as an adversary. according food and drug estimates, 80% of active ingredients in all of america's medicines, come from abroad, primarily china. it is not just the ingredients. china wants to become the world's dominant generic drugmaker. they are making generics from high blood pressure meds to
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chemotherapy drugs. 90% of america's prescriptions are for generics. the author of china rx, rosemary gibson says, this is all part of china's plan. >> in five to 10 years we are at risk of losing our generic drug industry because china will use the same playbook and undercut our own producers and drive them out of business. it is already happening. reporter: as the trade war continues, china is now threatening to weaponize rare earth minerals. the national security concern now is what happens if china wants to cut the supply for our medicines or alter its quality? many of the medicines used on our troops and veterans can also be sourced to china. >> i have no doubt that they would consider weaponizing their dominance of the pharmaceuticals market if they felt that that would give them an advantage over us strategically. reporter: now the u.s. commission on china is holding a hearing on this threat on
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july 31st. connell, experts say first step is identifying what drugs are made in china or sourced from there. under the law, pharmaceutical manufacturers are not required to disclose where they get their ingredients. that is a big part of the problem, connell. connell: an important story. to be clear, no threat from china yet to weaponize it. reporter: no. connell: something people are concerned about. melissa: here to react, dr. marc siegel, fox news medical correspondent. how do i know if maya maker medication is coming from china, and what threat or risk does it impose if any? >> you don't know, melissa. as bryan reported, rosemary gibson reported in her book, 80% of ingredient from our drugs made overseas come from china or india. we're talking about things, staples like antibiotics, vitamin-c, birth control pills, cancer drugs. most of the penicillin in the world is made in china. the fda goes over there to look
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at labs. as you might imagine, they are hamstrung what they do about it. a entire group of blood pressure drugs i use on daily basis, put under scrutiny, a chemical can be found in the drug to cause cancer. we had to remove it from the market. heroin killed 81 people in the united states made in china. we don't have the same ability to scrutinize the ingredients or drug manufacture pros even without the trade war going on. it will get worse as it is ramped up, as china becomes the world's pharmacy. melissa: how big of a deal is it? do you worry about this? i take blood pressure medication every day. i get generic drugs from my family. i was very concerned. but i'm a doctor, but are you scared about this or worried? >> i'm worried about the quality control issue here. i'm worried about past times it meant something. this blood pressure story i gave example of, just over the past year we had to remove most of the drugs from the market. this is getting worse. we don't have the ability to
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quality control. that is the key words there, quality control. i don't know if they're going to hold us hostage to this. they might. they might use it as a weapon in the trade war. whether they would deliberately cause americans harm, that is yet another step. but quality control part is trouble enough. we've seen chemists over in china being involved in the illicit fentanyl trade. that is another huge problem. this is enormous issue. i don't think you have to worry going to the medicine cabinet tonight. you might have to worry in five years. melissa: not just generics, right? it is some of the first label drugs as well? what are options for other drug companies? i guess they don't do it just because of expense? >> right, exactly. they're outsourcing it because of cheaper production. india is another place we can go. we can making more towards of our prescription drugs here. that would be a pretty good idea, bringing it back home, bringing more jobs here. again india is making a lot of the same ingredients. we need more oversight in the situation, more awareness of this like we're doing tonight.
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look at the drugs we're talking about, antibiotics, birth control, cancer drugs. we have brand new cancer drugs, melissa. let's make sure they are made here. we need to veer away and give it another look. melissa: how does china compare to india in your opinion. >> it is more as bryan reported. melissa: in earlies of it caught control and issues you brought up? >> great point. we have much more availability via fda to look what is going on india than we have here. we should do more manufacturing over there. that is much less of a threatening situation. melissa: dr. siegel, thank you. >> thank you, melissa. >> talk about the issues all the time, one you didn't necessarily thought of. melissa: no, very true. connell: disneyland is getting ready meantime to open up "star wars: galaxy's edge" park. we speak with ceo bob iger. the comments are coming up after the break. melissa: what one company is helping america to continue to
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explore space an return to the moon. that slater this hour. connell: seaworld san diego rescuing a sea lion pup with diverrer's mask. melissa: that is so sweet. connell: veterinarians are treating the pup if the mask was not removed. sea lion is expected to go back to the ocean. melissa: poor baby. woow! yeahhh! there we go! this memorial day, start your summer off right in a new chevrolet.
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failed to approve that 19 billion-dollar disaster relief package. republican congressman john rose out of tennessee rejected the measure. that is all it took. the objection means the bill must wait until next week when all the members come back an can cast ballots via a formal roll call vote. third time it failed. melissa: amazing n a theme park not so far away, gallach's edge, new expansion to disneyland. deirdre bolton is on the scene with details. i'm so jealous, deirdre. >> this is pretty cool, melissa. tomorrow there will be tons more people where i am standing right now. a lot of excitement building ahead of this. when disney bought lucas films seven years ago for $4 billion we have to assume all of this was part of the plan. the rides, millennium falcon, i was lucky to be on but pilot on.
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it was very good fun. the idea of the merchandise. you can buy all sorts of "star wars" creatures for true fans. there is a restaurant where droids prepare your food. this is part of the disney empire. this particular extension to the park, 14-acres, a one billion dollar investment, when i sat down with ceo bob iger, we talked about the attention to detail. here is what he told me. "star wars" fans are so intense, they are so dedicated, did you have to put more focus on detail for this part of the park than others? >> our imagineers care about details in anything they do. of the part of legacy is walt disney, he loved details, believed in sweating the small stuff and our imagineers do that. >> we talked about the business of the park. when they opened "cars" land two years ago, the attendance went
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up 23%. when they invest in the park it, literally pays off. this is the biggest part of the disney empire if you measure by revenue. sitting down with bob iger, we talked about future of streaming and pricing for disney plus. competition with netflix and amazon. here is what he told me about the pricing. >> we priced disney plus to be very accessible. i actually don't believe that prices are going to be much of an issue for us. i think given what is available in the marketplace. alternatives for people who maybe can't afford to spend another $7 a month. is it possible they will give something else up for it? >> in that context, melissa, of course the larger question was more about for people who already pay a cable bill to have access to some of the other disney properties. abc, espn, the regular disney channel, would those people also pay for disney plus? so you heard bob iger's answer there. as we know going forward, a lot
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of competition, whether it is amazon or netflix or particularly apple. we know apple ceo tim cook said he wants to develop specifically family-friendly programing. of course that is right up disney's alley. meantime people here could not be more excited for tomorrow. so, melissa, it is going to be a big day here in anaheim. back to you in new york. melissa: i'm so jealous, i can't wait to see it myself with my kids. deirdre, thank you. you are not a giant fan of "star wars." i will embarass you here. connell: i am not. i'm a negative person. look at my uber rating. they will use me as the job for that kind of stuff. a good story and good interview with bob iger. as we continue severe weather hammers the midwest and the south. all inner of areas see thunderstorms and flash flooding. how residents are recovering. we have a live report next.
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fortunately the sun is out. this river is finally start to recede after hitting a 41-foot record flood stage. but unfortunately police and officials tell us this water could be here for days. that means it could be sometime before people can even get inside of these hopes to assess all the damage. this fort smith neighborhood one of many around the region hit hard. city officials estimate 1000 homes are affected by the flooding. the river is going down. that means all this water you're looking a at is headed south towards the capital of little rock. national guard says its rescue crews have been moved to conway, where the state capital is and expect to flood a lot of homes. army corps of engineers said new precipitation caused water levels to increase and there is rain in the forecast. here in the for the smith neighborhood, we talked to a man who helped move his parents out of their house in less than 10
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hours. >> i still hurt. yeah, i mean, it is, it was amazing how fast we moved this house out. seeing the whole street and community, how fast they moved out, just, at the end of the cove, they basically dumped sand. all people from everywhere came in, were throwing up sandbags. it was awesome. reporter: national weather service says right now there are record flood levels up and down the arkansas river. 44 feet in ardenelle. the farmlands and ag community taking a big hit. one farmer we talked said a million dollar loss. another gentleman in oklahoma reporting all of his crops have been destroyed. up and down the arkansas river are hearing reports, there are levees that are compromised if not leaking right now. so far the army corps of engineers tell us they are holding up. based on what you see here, they are urging that evacuation plans should be in place. connell: those are big beautiful homes where you are.
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amazing to see how high up the water is on them. matt finn in arkansas. melissa: shooting for the moon. nasa hand-picking a few companies for lunar exploration programs. we're speaking with one of them after the break. key portfolio events. all in one place. because when it's decision time... you need decision tech. only from fidelity. you need decision tech. they feel like they have to drink a lot of water. patients that i see that complain about dry mouth, medications seem to be the number one cause for dry mouth. dry mouth can cause increased cavities, bad breath, oral irritation. i like to recommend biotene. biotene has a full array of products that replenishes
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with plastic, they developed capability to do it with metals. we use very exotic metals, and companies make advance am in in- advancement in 3-d printing, we're using the machine to basic develop, complex rocket engine parts. we can make them in a single piece for less time, less money. 25 to 30% cheaper than the past. melissa: i imagine it costs more in up-front investment, or cheaper all the way. >> there is some capital investment up front, then the learning curve, this is new to
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rocket engines in a high-tech environment, we invested in the capital, a lot in working with the material and understand how they would behave under the extreme conditions, we tested, now we're flying them. we fly them on existing engines, we have thousands of flights on engines, we implement them in case by case basis, making sure that engine remains reliable. melissa: you are working with nasa to develop a solar electric pro pull sopropulsion system for orbiting gateway station. >> yes, solar electric pro pull sopropulsion is interesting for space, we pedpropepropellants ms and speed it up quite a bit.
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the advantage is you can use much less prope propellant. david: why is it children to go back to the -- why is it important to go back to the moon. >> it is the next step for nasa, nasa had shuttle, they used it to build the space station, next step on use the mean as a seed forward to mars, now that shuttle is retires, nasa is navalling private industries. we're working with boeing on propulsion for the crew services to the international space station. >> we are out of time we hope you equipment bac come back it .
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connell: that was cool. we covered it all today. melissa: now to the moon. "bulls and bears" starts right now. >> you want this done by summer. >> we're in discussions as we speak. u.s. trade represent will be on capitol hill when congress reconvenes this week, in discussion with members of democrat majority, i can tell you president trump is ready to go. as soon as we believe there is a pathway forward, for approval we'll send the usmcarc tca to te hill. david: mike pence in canada speaking to our maria bartiromo, a fox business
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