tv The Claman Countdown FOX Business October 15, 2019 3:00pm-4:00pm EDT
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some of the sub growth numbers either domestic or international, any one of those things could drive it higher. charles: we will see. dow up 280 points as i stand it off to my colleague liz claman. liz: thank you, charles payne. [laughter] liz: all right, folks, get ready with the s&p around 3,000 and the dow above 27,000, the bulls are singing along to a quartet of positive headlines as we head into the final hour of trade. first, we're getting reports at this hour that the united autoworkers and general motors are closing in on a deal that could have those pickets going away, ending the 30-day strike that cost the automaker about 2 billion dollars. we're watching the stock and the headlines on that. all kinds of headlines are coming out of the u.k. at this hour that indicate prime minister boris johnson is nearing a breakthrough on the biggest impediment to a british
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exit or brexit from the eu and that would be the irish border with northern ireland. but will johnson will do exactly what he said he wouldn't do, probably concede. a spokesman for chinese government saying his nation and the u.s. are quote unanimous in the issue of reaching a trade agreement with no difference in our opinions. very interesting. that all coming as the third quarter earnings season kicks off with quite a bang. the dow jones industrials, s&p and nasdaq are all spewing green, along with these positive headlines. look at the nasdaq, up 104 points right now. and as we works derailed its own ipo by drowning in debt and buying jets, we have the private company which just made its first acquisition kicking off its shoes in the private market saying you know what? we think we will stay a while longer, pretty comfortable behind the scenes. why the founder of low sugar health bar giant kind is chewing on the idea that private is
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pretty appropriate for now. we're less than an hour to the closing bell. let's start "the claman countdown". ♪ liz: wow, this is some serious news about vaping and e-cigarettes. we have a reprieve for the beleaguered e-cigarettes sector as we get this breaking news. a michigan judge has just issued a preliminary injunction to block the state's ban on flavored e-cigarettes. blocking the ban. okay? the judge is saying there is evidence that if flavored vaping products were to be prohibited in the state, then adults would go back to combustible tobacco cigarettes. altria which owns a stake in e-cigarette maker juul is getting pop of 1 1/2% on the news. by the way philip morris has the right to sell juul overseas. it is moving higher by a quarter
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of a percent. anything more we get on that issue, we will let you know. let's get to the prospect of a brexit resolution. looking suddenly more and more realistic, providing a boost to stocks here at home. united kingdom and eu negotiators are closing in on a draft deal at the same time cautioning there could be problems hitting tonight's midnight deadline. british prime minister boris johnson still needs the approval of parliament. and that would be the same parliament he enraged more than a month ago when he suspended the government's weeks ago, about five weeks ago in an attempt to shoe horn his no deal plan to exit the eu in the very belief that johnson will be forced to make concessions and accept a soft brexit lit a fire under the british pound sterling. look at it right now surging against the u.s. dollar. it was about $1.27 to buy single pound sterling that would be a four month high. looking at that indicator. i don't know if we can show that at the moment. but as we look at the -- i guess
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we could also look at similarly how the u.k. ftse 100 index interestingly enough closed flat. all of these headlines are certainly making for some moves for u.s. companies that have exposure to the european union and to the u.k. all right, from the brexit guessing game to video games, the world just got a prescription refill of the most addictive game on the planet, and that would be fortnite. chapter 2 this is the reboot of the smash game launched last night. the chinese conglomerate that owns a major stake in the epic games is spiking on the news. it is below its annual high of about 47. let's get to two major healthcare stocks united health and johnson and johnson helping to protell the markets higher -- propel the markets higher. united health is adding more than 120 points to the dow right now following strong earnings
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and guidance. that stock at the moment up 8 1/3%. you can see j&j is up 1 and 3/4 percent. while jpmorgan was the shiong star on the financial -- shining star on the financial earnings this morning, wells fargo, citigroup and charles schwab looking at decent gains. schwab up 5 1/2%. goldman sachs is making a comeback after having been in the negative earlier, up 1/2%. wells fargo up 2% with a positive feeling that financials have figured out a way as they always do, folks, to make money no matter what the atmosphere. all right, to the dow jones industrials, we are up right now 273 points. we are 61 points above dow 27,000. what is this earnings season kick off day one really telling us about what the investor can expect? based on today's results, what are you buying and selling? when we say you, we mean our floor show traders.
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john korpina, what do you think? >> you have to put everything in its own category here. this market is very much of what have you done for me lately? the lately part of this is the headlines we are seeing in earnings season. historically over time that helps our markets. we will continue to see that. let's not forget about the other headlines that are out there. that's just not leading the market today; right? you were talking about brexit, talking about interest rates, talking about tariffs. these headlines will continue to go up and will put pressure on our markets. we will see a lot of two steps forward, one step back. when you get that one step back, don't panic because we know the market has this muscle behind it that will move it forward. economic data will help. what are you looking at this point? i think one thing that you have to be very keen and aware about is even though we're not getting anywhere new with china tariff agreement, technology sector there is clearly going to be the one that's going to be most volatile. if you are in it, expect a lot of volatility with it. if you're not, wait for those
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dips to come in, and i don't like to jump on the bandwagon here, but clearly financial sector is one that is -- that has been lagging behind other sectors and is now finally starting to make its way up, pretty much even on the year right now if you look at the overall sector, maybe slightly higher, but i think that will give a boost to us. liz: it's been nice to see the financials and hard to see an overall market rally without the financials as part of that engine. to scott, i don't want to blow off the brexit story and you having lived much of your life in london, give us a sense of what you are hearing and why that would affect our markets >> well, it's interesting enough, the markets taking a deal with europe is good news. you have seen what the sterling did today. you have already mentioned that. but i tell you what, the general electorate there really thinks the other way around; right? why do you want a long messy divorce when you can just shut the door on the way out and say good-bye forever? i think either way the sterling will be okay. i think it would be better faster if there was a no deal
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brexit. the feeling there is hey let's get out. we voted for this over three years ago. we've had enough. no more of this back and forth thing. the market still thinks that a deal is good when i say no deal is better. liz: is there a cow print scarf? >> i don't know. i can license one. how about that. [laughter] liz: it was my idea. i want part of that. phil flynn, we don't know what's going to happen with the trade situation, but the headline out of china, and from a spokesperson for the head of that government, i call him the emperor because he will be there forever, xi jinping, you know, is that hey we're on the same page with the united states. that's got to be good for our markets. >> it is good for our markets. you know, overnight of course we saw this report that caused, you know, all the markets to freak out that china wanted the u.s. to pull back a little bit on, you know, not going to buy purchases of ag products, you know, until the u.s. came back on the sanctions, and that's
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changing a little bit. i see the dialogue is positive, and as we see in every global market, whenever we get these international deals, there's always a can -- they try to kick the can down the road, never want to complete everything. that's probably what we will do with the china deal but seeing progress. i think the same thing with the u.k., i thought scott sounded a little crabby about it but maybe it is because his age, he got a year older today. at that age, you get that cranky. liz: happy birthday. >> i was able to keep that under wraps until phil showed up. [laughter] liz: many many more. great to see all of you. john, scott, phil we appreciate it. the dow is still up about 269 points. we want to go live to the rose garden for the moment to peek in. president trump is about to welcome the stanley cup champion. all smiles out there. a nice blue sky at the moment.
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but inside the white house it's probably getting very serious, on this issue. the u.s. grappling with turkey's incursion into northeast syria and it's targeting those kurds, of course. the reliable partners of the united states, which the president suddenly left that area, and then the turks attacked them. well, the president just 24 hours ago slapped sanctions on turkey, five days after the turkish invasion began. the sanctions include suspending work on 100 billion dollars trade deal, restrictions on senior turkish officials, and the energy and defense ministries and a return to 50% tariffs slapped on turkish steel. turkey's tariff rate on american steel remaining at 25%, with no threat yet of raising it in retaliation. the steel tariffs may not mean much to turkey, to return to last year's levels and those --
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from january to august, imports of turkish steel by the u.s. fell 80% to 136,000 tons. now, the u.s. exports, more than 3 million tons a year, so the amount that turkey is really a drop in the steel bucket, if you will. we need to point out the turkish currency. the already stressed currency is now october's worst performing currency around the globe. look at the five-year picture. just after 10:00 p.m. in istanbul, but let's take it to blake who has the latest on what's happening. >> a senior official at the state department is telling fox that the vice president mike pence will be heading to turkey at some point here over the next 24 hours. that senior state department official saying that one of the goals here is to, quote, have a heart to heart with the turks. in a rare appearance, outside of the white house yesterday evening, the vice president laid out what president trump wants to see from turkey.
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>> president trump made it very clear that the united states is going to continue to take action against turkey's economy until they bring the violence to an end. we want an immediate cease-fire. >> now despite those sanctions coming from the white house against turkey, which you just laid out, law makers up on capitol hill could press for more as they now start to trickle back here to washington from their recess. for example, nancy pelosi says that she's spoken with the republican senator lindsay graham who met with president trump yesterday for more than two hours. graham like many republicans has been critical of the president's decision to withdraw u.s. troops from northern syria. >> we have our differences. i support the president. i hope he will make some adjustments that makes sense. we've got to fix it. we can't let iran be the biggest winner of this debacle.
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>> liz, despite the white house yesterday demanding that turkey stop its incursion into the northern part of syria, northeast part of syria, there is no indication at all today that that is happening. liz? liz: and it's really anxiety inducing if you're definitely on the kurdish side and the kurds of course helped us get rid of isis at least for the time being. blake, thank you very much. blake burman. we've got a food fight spilling over into the markets with about 47 minutes to the closing bell. it is not that the bulls are having trouble. look at the dow, still up about 259. we have the s&p higher, the nasdaq, transports charging ahead, the russell, but conagra, campbell's soup and kellogg tumbling to the bottom of s&p right now. new competition could be to blame, courtesy of a one of a kind rival that made a creative acquisition in a push to take a
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bigger bite out of the snacking industry. and of course we're talking about one of the hottest health bar brands kind. up next, the man behind the uber popular snack bar is here on the fight he's waging against traditional food giants and why he isn't so hungry to follow his fellow billion dollars plus unicorn start-ups into the treacherous ipo pipeline. it's a fox business exclusive when "the claman countdown" returns. ♪
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meanwhile, we work never even got to the ipo starting gate. reports today that the shared office space company will now lay off at least 2,000 members of its staff in the coming week. approximately 13% of its payroll. you know, these are cautionary tales where the ceo is spending too much money and going into all kinds of debt, but these tales have one super hot consumer company kicking up its heels and say we're fine staying private. the company made its first acquisition today. you see the delicious bars on the screen. joining us in a fox business exclusive founder and executive chairman of kind, kind bars, daniel lubetzky. great to have you. you made an acquisition, creative foods; right? >> creative snacks. liz: what do they have? >> they make delicious clusters that are very much like the kind promise. we're very very impressed with them. we have admired them from afar for many years, developed a relationship with the founder
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who has got an incredible creativity and entrepreneurial spirit and commitment to his team and products. liz: it works with your kind bars because you pair the -- i guess you call them the clusters? >> yes. liz: the hand to mouth clusters, that's a new term, not to mention granola; correct? >> yes. liz: how do you see that squaring with them? >> both brands creative snacks and kind -- some of their product wills be under the kind brand because they fit the kind promise of nutritional dense ingredients. we're very very proud to partner with them. liz: you could so easily go public right now. you are bigger than some of the unicorns that have gone public and quite frankly have spectacularly failed or can't even get to the starting date like we work. why are you looking at this and
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saying we don't need to go public right now? >> i think we love the ability to think very very long term and to plan for the long-term, and i personally would be not very excited to have to worry about every quarter, every month, thinking about reporting results and about potentially outside parties interfering with your long-term strategy. i think all of america could benefit from a long-term perspective. liz: you are also partners with a famously long-time private company, and that's mars. >> correct. liz: very private, literally, forest mars always kept his cards close to the vest, and does that kind of give you the support where you don't have to turn to the public markets? >> we chose mars as a partner for a couple reasons. one, because they have an incredible global reach and another one is because they are privately held and have really admirable values in terms of neutrality, transparency, no gimmicks very very straightforward. we have been delighted with how they are helping to take kind to many many markets, create a
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separate partnership for them to help fulfill our vision of kind becoming the foremost health and wellness platform and together we have reached over 20 countries already, and we're very excited about that. huge. if you don't understand or hear his accent, you are mexican; correct? >> i was born in mexico. very proud of our country. my father was liberated by american soldiers. i wouldn't be here if not for the courage of american soldiers that came to the concentration camp in a generation before. they then came to mexico where he met my mom. i came to the u.s. when i was 16. lived in texas for many years and now here in new york. liz: look at you. you are a mexican immigrant who has created how many jobs here in the united states? >> many thousands. liz: many thousands of jobs. what must you think of this push and that is so antimexican at the moment, in illegal
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immigrants? i'm guessing you came in legally. >> we came in legally. i definitely think that immigrants are an credible part of the success of the american experiment. i think about 40% of fortune 500 ceos and founders were either immigrants or children of immigrants. i think immigrants bring a lot to our nation. they recognize how great america is. they recognize the values of respect, dignity, freedom, rule of law that help us thrive. think we should protect our borders but do it in a smart way that welcomes the best of the best to make us stronger. liz: it is the dark chocolate sea salt that i love. he and kind came here in the earlily days when -- in the early days when fox business was under assault by our competitor cnbc where they were threatening people, and daniel said who cares i'm coming in.
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>> i'm proud of our relationship. i'm grateful with our partnership with you, liz, and congratulations on your anniversary. liz: 12th anniversary of the launch of fox business. great to have you back, daniel >> thank you very much. liz: we are coming right back. 38 minutes before the closing bell rings. dow up 264 points. ♪ ♪ ♪ ♪ ♪
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liz: where's the cup? there it is, the stanley cup. there's president trump in the rose garden, with the stanley cup champion st. louis blues, the national hockey league as we watch the ceremony, yeah i mean it is fascinating. i don't know if you have seen the cup up close, but it has every single name of every team. they keep having to add different echelons of it because the thing is historic. it is the greatest of all trophies. one of the companies the president, though, has been hard on has made a tough decision. harley-davidson is pulling the
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plug for now, just temporarily on what many think is the future of the company. harley has announced it is halting production of the live wire electric bike after finding an issue with charging equipment in the final stages of testing. so this is really quite normal when a company is starting off with a new product, especially something that has all kinds of electricity running through it, but harley is saying that it is investigating the issue. the company has not given a timetable on when it expects production to continue. but as we pull up the stock at the moment, jeff flock, i had seen this thing at the consumer electronics show. the stock is not getting hurt at all, up 3 1/2%. >> i was going to say, it is having a big day, and that is every indication that this is not a serious problem because this is a serious unveil for the folks at harley, at a suburban chicago harley dealership here. you know, they have only released a few of these. take a look at this bike. it is really kind of a beauty. it's got great reviews. it sells for about 30 grand,
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which is on the high side, but, you know, it is a good-looking bike. it's made in the usa. the president should be happy about that, at the york, pennsylvania, harley plant. you know, other people -- apparently the problem has to do with charging. you know this thing charges if you have a direct current charger, 80% in four minutes. so that really puts electric cars to shame. the other thing people have asked about it is electric harley sfl -- harley? wait a minute. it is supposed to make a lot of noise. what does it sound like? it is not silent. take a look, we pulled some sound from what this motorcycle sounds like when it is cooking. take a listen. it sounds like it is a rocket ship about to take off. 0 to 60 in four seconds, it is a
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rocket ship. the stock has done nothing but climb all day. it started up just a little bit. now up over 3%. maybe this is just a little blip for harley, but it is their first forray into electric. remember when they were inventing the motorcar some people thought we should stick to horses because this car thing was never going to fly because it kept messing up. i don't remember it either. that's apparently what happened. liz: how old do you think i am, jeff? >> i'm way older than you are, darling. liz: i think we're both up there. that's experience for you. jeff, thank you very much. it does make sound. i saw that at the consumer electronics show. okay. i'm just looking at the moment at the dow. it is up near lly 280 -- 280 points. waiting on the paper, with the closing bell 30 -- 31 minutes
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away. the deal cemented by this oval office handshake. while some call it a brilliant move, critics say it wasn't worth the cost of the economy, at least not so far from what they have seen. a chief economist was one of the first to sound the alarm friday on the partial deal. he's here exclusively to tell us if phase one will live up to the president's promise. "the claman countdown" is coming right back. usaa took care of her car rental, and getting her car towed. all i had to take care of was making sure that my daughter was ok. if i met another veteran, and they were with another insurance company, i would tell them, you need to join usaa because they have better rates, and better service. we're the gomez family... we're the rivera family... we're the kirby family, and we are usaa members for life. get your auto insurance quote today.
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appointments available now. >> i wouldn't believe the critics who say nothing happened at all. it's not a final deal. but the idea is brilliant to have phase one and phase two, and we should all pay attention to that. this is not the big comprehensive deal. liz: not the big comprehensive deal that the president over and over again promised? trump advisor michael pillsbury talking about this phase one deal struck by the administration friday. i did challenge him about that and he said it would be impossible to do a big beautiful deal as promised by president trump, due to the tough negotiating process. so look, you have a lot of critics saying what is this? including in a fox business exclusi exclusive resident scholar and author derek scissors.
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welcome. you've got an in at the white house. when you heard that michael pillsbury had called this phase one instead of a big beautiful deal quote brilliant, what was your first thought and reaction? >> my first thought was obvious this is what people had been saying was going to happen since the may blow up. the person who has resisted it the most has been the president. so i guess it's brilliant for the president to agree with everyone else after six months. liz: all right. you sound like you're really skeptical. what do you make of phase one? and you of course have a real hand in china and the business world there. >> well, i wouldn't even call this phase one. i'd call it about phase 0.7. we're not done. the u.s. was trying to get to a point where china offered enough where we would remove the december 15 tariffs, that are still scheduled. we didn't get there. we don't have any text. so the president decided to have a press conference not only when we didn't have a comprehension i deal -- comprehensive deal, but
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we didn't have a phase one deal either. we just have most of a phase one deal. liz: you have frequently advised the administration, am i correct? >> well, that's a funny thing to say since they don't seem to be listening to me. i have talked to the administration a lot. they listen once in a while. liz: okay, but we're looking at the latest moves here, and china and the spokesperson for xi jinping came out today and left no daylight between we're on board with the americans and we're not so sure. they fully said we are going for the same goal that the united states is going for. >> i think both sides want the 12/15 tariffs on the last bit of chinese trade, over 100 billion dollars, not to happen. the president imposed those tariffs. he was very angry at china for not making agriculture purchases. he since moved away from that position. so the two sides have the same goal, but the president needs to deliver some concrete results. agriculture is not going to happen right away.
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the president said that ip and tech transfer would be involved. we have no text on that. so we want the same goal, but we don't have anything concrete coming back to the u.s. for postponing those tariffs. liz: can i ask you to look in a crystal ball and tell me do you think december 15th, when we are expected to see a huge amount of chinese material and goods coming into this country slapped with new tariffs, do you think that will come to pass? >> i don't think it will come to pass december 15th. so i think, you know, if the market is worried about that, i think the best bet is it doesn't come to pass. there is a lot of turbulence ahead in 2020, though. liz: what about huawei? huawei has almost been a bargaining chip. one within hand some call it a national security issue, on another, it is maybe we will drop the blacklisting situation with it. you have germany a couple hours ago saying it will not ban any huawei products when its companies in germany want to set up the 5g networks what do you make of that? >> well, this has been a german
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position for a while, where they say look, we're not going to ban you up front, but the germans haven't put money down. they haven't put money in huawei's pocket. they have to look at the united states. we are talking about giving huawei licenses. companies are talking about moving offshore to supply huawei. the congress has been very loud about huawei but the trump administration hasn't. germany doesn't look at the u.s. and say they are holding the line here and we should do it as well. they are looking at us being equivocal, mixed and they are doing the same thing. liz: good to see you, derek. sorry they are not listening to you. i guess in the end they might be listening to you >> i'm hopeful. liz: hope springs eternal. derek scissors thank you very much. netflix breaking bad with the closing bell ringing in 22 minutes. the dow still up about 258 points at 27,046. up next the new partnership in the streaming wars that has netflix on the run despite its el camino, a breaking bad movie
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debut. while you are investing in yourself, and the markets, tune into my everyone talks to liz pod cast. you have to hear the inspiring success stories, whole bunch of them, first lady of nails, suzy weiss fishman who founded opi nail polish, billion dollars market. market wizard, and never forget this one, youtube star logan paul. so many others. they are always up there. i would absolutely love if you would listen to them and let me know what you think because i tweet @ liz claman. available now, apple, google and fox news pod cast. "claman countdown" coming right back. colon cancer. i'm not worried. it doesn't run in my family. i can do it next year. no rush. cologuard is the noninvasive option that finds 92% of colon cancers. you just get the kit in the mail, go to the bathroom, collect your sample, then ship it to the lab. there's no excuse for waiting. get screened.
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ask your doctor if cologuard is right for you. covered by medicare and most major insurers. no, just a sec. what would it look like if we listened more? could the right voice, the right set of words, bring us all just a little closer? get us to open up? even push us further? it could, if we took the time to listen. the most inspiring minds, the most compelling stories. download audible and listen for a change.
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apple's new tv plus service will also be available upon its debut november 1st. apple's latest team sending some shack waves through soon -- shockwaves through soon to be competitor netflix which is down about 1/2%. i wouldn't call that a shockwave. shares were down earlier today but we've come back up off the floor. after the bell's connell mcshane is here. connell: i'm actually happy about the roku and apple tv. liz: you also have fox business. you and i are sharing a special anniversary. we're not married. happy 12th anniversary to the fox business. connell and i are originals. connell: we are. liz: look at this picture i brought down from my office. that was the first year when somebody brought in the original broad and wall street sign. connell: yeah, it was cavuto he stole it that morning. liz: a drunken college night;
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right? connell: yeah. liz: 12 years, my friend. we have survived. connell: i still have an unopened bottle of champagne in my office. liz: with the logo on it. connell: that's right, and the date, october 15th, 2007. we have made it. we hope we make it to the top of the hour. when we do so, of all things, we're going to talk to mike huckabee, former governor of arkansas about facebook. mark zuckerberg i'm sure you knew i wouldn't say in hot water but some people are apparently upset with him for the off the record meetings he had with a number of conservatives and another delete facebook kind of campaign has started because of that. we will talk to governor huckabee about that and maybe talk about the debate tonight and other things. plus this market rally which is something else. we will have our perspective thoon when melissa joins -- we will have our perspective on that when melissa joins me.
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liz: you don't look a day older. connell: you don't look bad yourself. liz: thank you, connell. the dow is still up about 251 points. up next, charlie gasparino has new information on the wall street titan that could hold the key to we works survival. charlie is breaking it down next on "the claman countdown". from the couldn't be prouders
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liz: we've got one wall street firm stepping up to the plate to help troubled real estate company we work while another is turning its back. charlie gasparino with the latest >> this will tell you something about the uphill battle that jpmorgan who is stepping up to the plate to provide them with financing.
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they are trying to raise the money to help finance this thing through a very difficult time. so we know jpmorgan is stepping up to the plate. but sources are telling us close to the matter is that goldman sachs is apparently now sitting out what is essentially a second round of financing. this one much more important to we works future. if they don't get this money, you know, this company may not exist that long. jpmorgan is out there combing the street to try to get some additional cash for the company. it occurs as soft bank as we have been reporting -- we have been pretty much ahead of this story. soft bank is out there thinking of its own sort of financing. they would essentially control we work if they put in the money they are talking about. the separate story is jpmorgan. it would be a bank loan. it won't be -- you know, they won't be owning it like soft bank would. that would be an equity fusion. liz: is this good money or bad for jpmorgan? >> that's what goldman is saying. we know goldman as of now, who
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knows what's going to happen later on is sitting out this round. they were in the first round. they were one of the main underwriters on the failed ipo. goldman is essentially telling us is jpmorgan has so much vested in this company. jamie dimon was involved with adam newman the ceo. he was essentially an advisor. jpmorgan was the lead underwriter. led the first round of financing. it has a bond deal outstanding. by the way, bonds of we work are now trading at under 80 cents on the dollar. that is, you know, severely depressed levels. that's going into -- that's the market pricing into potential bankruptcy. liz: this was a 47 billion dollars valuation. >> well okay let's not say this this thing is over. there's obviously some business here. there's something here. banks wouldn't be stepping up. jpmorgan would be cutting its losses totally if there were zero here. they believe there's something here. that's the valuation. a lot of people think as of now
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that was the post ipo valuation if they went through with it. a lot of people think the 10 billion is really 5 billion, so you know, that's a pie in the sky of valuation of people who need to bail them out. in a sense jpmorgan is like the banks that were into donald trump back in the old days when he almost went belly up back in the early 90s. they basically gave him money, gave him an allowance to keep him floating until he got better because he owed them so much money. it was better that he was -- he could survive and pay them back than him just totally going into liquidation. jpmorgan is in that category right now. we should also point out that goldman sachs today and it's a different firm than jpmorgan. jpmorgan is a big bank. they can handle a few losses here and there. goldman sachs is not as big as jpmorgan. they took i believe an 80 million dollars writedown that came out in its earnings recently, on its wework work so they are not -- they are much
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more hesitant to throw good money at bad. they don't have the balance sheet. they don't have the scale to do. that they are allowing jpmorgan to do that. that's where we are right now. we are one of the premier investment banks that was a lead underwriter, this is a pretty big story, is not being part of the financing arrangement, we are told as of now. it may change. i hear it is unlikely to change, just so you know. but this is a big thing. if goldman is not involved, then there's a lot of questions about the future. liz: i think you are right goldman's market cap 74 billion dollars. jpmorgan's 380 -- >> yeah, they have more scale. jpmorgan could lose money on this. goldman sachs if you look at its earnings, you know, it just doesn't need this, if you know what i mean. liz: beguiling. >> too much perks and not enough business. liz: that's called too much sizzle, no steak. dow is up 251.
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closing bell 8 minutes away. they may not be as cuddly as these little guys, but our countdown closer says the dogs of the dow will keep your portfolio from rolling over and playing dead. "the claman countdown" is coming right back. no more lugging your clubs through the airport or risk having your clubs lost or damaged by the airlines. sending your own clubs ahead . . we'll pick up and deliver your clubs on-time, guaranteed, for as low as $39.99. shipsticks.com saves you time and money. make it simple. make it ship sticks. but when i started seeing things, i didn't know what was happening... so i kept it in. he started believing things that weren't true. i knew something was wrong... but i didn't say a word. during the course of their disease around 50% of people with parkinson's
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how 'bout it, fred. plans change every year. use the new plan finder at medicare.gov . comparing plans really pays. look how much we can save. ♪ liz: closing bell four minutes away. green on the screen. the dow, s&p and nasdaq look healthy, transports seeing biggest percentage move here, up 1 1/3%. we're just off session highs. now within the transports are airlines. united airlines, trailing the general market, seeing gains of just 4% so far this year. but will earnings after the bell give a boost to the airlines,
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gerri? i fly united. i'm interested to know about this. reporter: see what analysts figure will happen in earnings report. mean estimates of $3.97 a share. that would be up 30% from a year ago. revenues expected to come in at 11.41 billion. you have 4.2 here. 3.7% gain the company beat every quarter since late 2015, except for one quarter this time last year. so we'll be watching. liz, back to you. liz: thank you very much, gerri willis. dow holding on to 234 points of gains. i want to set the tone, dow was up 342. a little bit of profit-taking. when investors talk about picking so-called dogs of the dow, here is what that means. they are selecting the highest paying dividend blue-chip stocks in the litter. today's "countdown" closer has digital dogs that can add big bark and bite to your portfolio she says. we're joined by linda.
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let's get to it. you talk about technology names in the dow. what about the tech dogs of the dow? >> sure. the tech dogs of the dow are really not tech dogs. they have structural growth that is driven by artificial intelligence, augmented reality, cloud and gailing. talking about companies like microsoft, cisco, apples of the world, that have their strong balance sheets, strong cash flows and management team. they are the old weather stocks of any portfolio. liz: so microsoft, looking at cisco and apple. all three pay decent dividends. no matter what the headlines are specifically regarding china, that seems to be gyrating everything, these names you make money off of, right? >> absolutely. these are companies that are paying decent dividend yields. more importantly they're
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offering dividend growth as well as earnings growth. if you want a little more cyclical, a little more yield i think semis are another place to look at. if you're more optimistic on u.s. economy and china negotiations like we are. semis are offering more than 3% yield. i think technology has a place any portfolio. not just high flying technology names. is really good strong dividend payers that have a history of increasing those dividends with strong balance sheets. connell: you also like financials which are having a great day and industrials on a good day have exposure to china and on a bad day have exposure to china. that could be a boon and a problem, right? >> absolutely. industrials in the sector where at the moment, it is going through an industrial recession over the last four to five quarters. however, if you do assume that we are going to have an off-ramp with china u.s. negotiations
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then these industrials are offering 2 1/2, 3% dividend yield as well as potential for strong valuations into 2020. [closing bell rings] think about the caterpillars of world. liz: linda, thank you very much for joining us from federated investors. that will do it. melissa: wow looking at that, the dow closing above 27,000 for the first time in four weeks. all three major averages ending in the green on strong third quarter profits offsetting the trade uncertainty we can't get away from. the dow ending up 235 points but off session highs. we have been up about 332 earlier in the session. s&p 500, nasdaq, both closing up more than 1%. i'm melissa francis. connell: i'm connell mcshane. welcome to "after the bell." more on big market movers. here is what is new at this hour right now at the white house president trump is about to sit down with the secretary of defense amid heightened tensions in
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