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tv   The Claman Countdown  FOX Business  October 17, 2019 3:00pm-4:00pm EDT

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within the next six months. you do not see that divergence ever with that. now the market is up 68. climbing back pretty good. liz claman, over to you. liz: you know what? we blinked and it tripled. okay. charles: we'll take it. liz: maybe it is on a couple of pieces of news. two agreements that are trumpeted as deals at this hour that appear in part to be energizing the bulls, but both have question marks swirling around them at this hour. british prime minister may have been smiling and glad-handing in brussels this morning after announcing a, quote, great brexit deal but he's now fewer than 36 hours away from a major showdown that could possibly derail the whole plan to exit the eu. the big question, can johnson get it past one particular group of lawmakers in parliament and how heavily do stuff you may own depend on that outcome? meanwhile, behind closed doors, right now, united autoworkers union leaders are still mulling
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the fine print of the tentative four-year contract agreement with general motors. deliberations are now taking hours longer than initially expected. a vote by those union leaders could come at any moment. we will show you how gm's stock is moving and interrupt all of it if we get news of that vote. now, even though the s&p 500 up 12 points above 3,000 is about 1% away from an all-time high, it's big blue earnings that are raining on the parade or at least trying to send a few clouds here. dow jones industrials, up 73. you have the nasdaq better by 39. and can you not afford to even look in the windows of chanel or gucci or louis vuitton stores? the real real lets your fingers do the buying. the luxury consignment site that just went public in june, but is now a 2 billion dollars phenomenon, it neither makes anything or owns anything. so how is it employing hundreds
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of people and thrills fashionistas around the world? the ceo of the real real, the publicly traded company that began at the founder's kitchen table is here in a fox business exclusive. how women are turning their closets into goldmines, her plan for profitability and the sector that might want to see her fail. we're less than an hour to the closing bell. let's start "the claman countdown". ♪ liz: we are just getting this breaking news from the center for disease control. the cdc has just updated the number of deaths that they are penning on lung injury associated with e-cigarette use or vaping. before october 15th, two days ago, the number was 26 people. now it is up to 33 people. so this death toll climbing 7 from just the last week. the cdc says there are now a
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total of 1,479 cases associated with e-cigarettes and vaping in 49 states. when we talk about cases, we're talking about illness. washington, d.c., u.s. virgin islands are involved here. this comes on the heel of juul the big 800 pound gorilla in the e-cigarette world announcing that it has suspended the sale of all nontobacco and all menthol based flavors in the u.s. this of course pending the fda's review, includes flavors like mango but cream fruit, cucumber, no more. these are the names that matter in this space, altria is moving higher on this news, up 1 1/2%. phillip morris gets outside of u.s. sales of juul also moving higher, possibly on the belief that the regulators will stop breathing down their backs on
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this issue at least for the moment. we also have this, what was supposed to be the largest initial public offering ever, a big oil company, it has now officially decided to delay the planned launch of its ipo, this according to the financial times, moving about 40 men outs ago here -- minutes ago here. the company wants to wait till it can provide clarity on its most recent earnings after that drone attack last month cut its production in half. those familiar with the matter stress the announcement is a delay and the ipo has not totally been pulled. let me get back to brexit. i will tell you why because we see a nice move in our markets at the moment. some of that is this relief rally, but we should tell you that the wall of endorsement for prime minister boris johnson's compromised deal to exit the eu, the european union is already starting to crumble a bit around the edges. he exists that the quote excellent deal he announced this morning will pass, but one voting block is firmly standing in the way even as the eu
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commissioner president has ruled out any further delays. he says it is over october 31st. investors here in the u.s. are toasting this deal, but that late-breaking threat tempered european markets. the cac-quarante came back down. germany's dax closing down as well even as it came to close to its highest level in more than a year. ftse 100 made up of the largest 100 companies listed on the london stock exchange, here's the intraday picture. it had nearly a percent higher intraday, but it only eekd out a 2 tenths of a percent move to the upside. british pound sterling let's look at it, wilder ride. it initially surged against the u.s. dollar. the moment the deal was announced traded as high as nearly $1.30 against the pound here, but we're at $1.28. we've headed back down.
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that's pretty much where we began the day. all right. while support for this new deal among the u.k. parliament in northern irish lawmakers is still undetermined, that's the group that says we don't like it. boris johnson and jean-claude both expressed their support for the deal and for each other earlier today. >> quintessential european country, solid european friends, neighbors and supporters and look forward to working with you in building that partnership. >>i'm happy about the deal, but i'm sad about brexit. liz: as it seems boris johnson is at least at this moment because we've been checking all of the u.k. newspapers, he will struggle to garner at least ten of those votes he needs in parliament to pass the new brexit deal. that of course is from this group, the democratic unionist party in northern ireland that apparently doesn lehe deal
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what will happen come monday if parliament cannot get it across the finish line? to our floor show traders. you have got to admit this will mat tore our viewers -- this will matter to our viewers, will it not and what happens on monday? >> of course, that three month ten-year spread that i have been speaking about so often actually expands when the hopes of a brexit goes higher. we will see a big improvement in u.s. markets if we get something positive out of northern ireland over the weekend. now for the folks at home, i know -- i get this all over the place. how do we play brexit? do we even care? yes, we do; all right? if you want to play the british market, large caps, something you heard of british petroleum, unilever, they have all been down about 4% for three months as has the ftse 100 as has the s&p, now, these names -- i like bp because it pays a dividend but they are not going to give you the outperformance i think you need. i'm going to give you a secret weapon. this is flgp, franklin ftse u.k.
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etf, i'm long this one. it's fox trot lima golf bravo. it's been underperforming its own net asset value for the last year of brexit here and the expense ratio is only about 0.9%. this is a way -- it's only about $23.81 by the way the last i looked. it is a a way for the home gamers to get involved if they want to take a shot for it. don't go for the home run. i'm going 25 bucks, i'm probably out by tuesday win or lose. liz: if you look towards monday, they are calling this saturday situation super saturday because it is a highly unusual extraordinary parliament vote on a saturday, no less. >> yeah, no, it's very individualized, fascinating. the way i look at it right now is that the backup in ten-year treasury yields was in part due to a friendly political process and brexit's part of that.
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it did help to embolden risk assets so i do think if this falls off a cliff, the market is tired of uncertainty, keeping in mind that we rally because of some clarity. i think we're going to see a legitimate setback albeit temporary because a lot of moving pieces with regards to just retrofitted, twice rejected thing that boris johnson is trying to get through. liz: phil, look, the question becomes a what are you buying ahead of monday? and b, you know, does it offset the weaker global picture that we have seen? i might think not so far. >> well, not right away, but i think it could, uncertainty always does. i think sarg's idea with biaggio because i'm going to be drinking heavily. [laughter] >> are we tired of this? this is going to happen on a saturday. that's the worst day for a
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market moving decision to be made. whether what happens, they get a deal or don't get a deal, i can guarantee you sunday night they will overreact. >> we need the speaker of the house to get off her tail and get moving on usmca so we can add u.k. to tend of that. that's what we need -- add u.k. to the end of that, that's what we need. liz: larry kudlow said pelosi has been measured on that and something may happen. great to see you guys. thank you. we're watching the markets here. breaking news, more details about the cease-fire in turkey between the turks and the kurds. president trump making the announcement moments ago after touching down in texas in the last hour. he is there to make remarks at the unveiling of louis vuitton's new leather goods workshop in
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texas. blake burman live at the white house with more on that developing story. blake? >> yes, hi there, liz. it was a 7,000 mile trip and five hours of negotiations for the vice president, mike pence, but it resulted in a cease-fire deal brokered by the u.s. and turkey. the vice president in ankara turkey earlier this afternoon announcinghe cease-fire deal after he sat down along with the secretary of state mike pompeo and negotiated that agreement with the turkish president erdogan. according to the vice president mike pence, there will be 120-hour or five-day cease-fire period at which the kurdish forces in northeastern syria will leave that area, and after that happens, the vice president says turkey will end its incursion as well into northern syria. remember, it was just yesterday ahead of this, president trump had released a letter that he had written to the turkish president erdogan in which he was essentially threatening economic ruin to turkey, should they continue to go down this
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path in northeastern syria. the president saying today that he needed to be unconventional, and he hailed this cease-fire. >> this is an amazing outcome. this is an outcome regardless of how the press would like to damp it down, this was something that they have been trying to get for ten years. you would have lost millions and millions of lives. they couldn't get it without a little rough love, as i called it. >> liz, as for those kurdish forces and those kurdish fighters, of course they have been alongside u.s. troops for years now, helping fight the u.s. battle against isis, so there is a very real question as to what happens on that front. the vice president saying today, though, that there will be help, that turkey will be helping to secure the prisons that are currently holding isis prisoners in that part of that region. liz? liz: blake, thank you very much. but wait, the louis vuitton
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connection, can you just quickly give us that, blake? >> there's a fundraiser there, i believe, maybe. why the president is going to louis vuitton -- they are talking about jobs. any time the president can get on the road and talk about jobs, it's something he's going to do, but i got to tell you, the first time i heard the president was going to be going down talking at a louis vuitton factory, certainly raises an eyebrow, interesting if nothing else. liz: lvmh, the parent of louis vuitton, we're looking at is flat to slightly lower and maybe this next company is the reason why. competition in high fashion has always been there, but now it's the 24 billion dollars luxury resale market that experts say could double in the next three to five years giving the big names a run for their money. the company that's cracked the code to giving high fashion an afterlife is strutting down the wall street catwalk and posing a major threat to luxury's top
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names. in a claman countdown exclusive, the ceo of the realreal is here live on her plan to dominate the global world of luxury consignment, on turning the circular fashion movement into shareholder gold. she is next. trips to mars. no commission. delivery drones, or the latest phones. no commission. no matter what you trade, at fidelity you'll pay no commission for online u.s. equity trades. at fidelity you'll pay no commission it's what gives audible themembers an edge.listening; it opens our minds, changes our perspective, connects us, and pushes us further. the most inspiring minds, the most compelling stories: audible. i'm working to make each day a little sweeter. adp simplifies hr, benefits, and payroll for magnolia bakery, so employees like sarah can achieve what they're working for.
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adjust your comfort with your sleep number setting. so, can it help us fall asleep faster? yes, by gently warming your feet. but can it help keep me asleep? absolutely, it intelligently senses your movements and automatically adjusts to keep you both effortlessly comfortable. will it help me keep up with him? yup. so, i'll wake up ready for anything? oh, we've got your back. so, you can really promise better sleep? not promise. prove. and now save up to $400 on select sleep number 360 smart beds. only for a limited time. liz: we now have an update on the story i told you at the top of the hour, the ipo being delayed, now according to the "wall street journal," citing sources the timing of a possible ipo has been pushed back. we are getting on the calendar, december or january. we will stay on the story as more details come in. it is a huge ipo eventually when it comes to market, and a lot of u.s. banks are underwriting it. i have a question for you guys, who among you does not love a
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bargain? we all do; right? compare these two chanel handbags. which one would you buy? guess what? they are both the same purse. both totally authenticated. both completely real chanel. the main difference the price tag. the chanel bag straight from chanel store costs approximately $5,600. whereas the exact same authenticated bag on the right resells on the realreal for 3,100. now, while wall street is jumping on the resale clothing and handbag bandwagon, our next guest is the e-commerce pioneer who founded the realreal back in june of 2011 at her kitchen table. she brings authenticated luxury consignment on-line, completely changing the game for the way people buy and sell high end luxury products. the founder and ceo of the realreal that just went public at the end of june joins us now, julie wainwright.
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i love the story of starting at your kitchen table and now you are publicly traded. the stock sup about 4% today. -- the stock is up about 4% today. you are trading above your ipo price. tell me exactly why you think the realreal has become such a hit. >> well, you know, first of all, timing is everything. and when i launched the realreal, it was post 2008, so people were becoming very value conscious, and then as the businesses evolved, they have also become very conscious of the sustainable impact of resale. i certainly didn't realize that about one truckload a second of garments go into land fill, one truckload a second goes into land fill of unused goods, when i started the business. the millennials and gen z's certainly know that the fashion industry unfortunately is a very dirty industry, and recirculating goods just makes sense. but i really started it because
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i saw all of this product sitting there, with no real avenue to resell high end goods. and i found a huge space, and it's really been fun. it's been fun. liz: you are also helping people, and not just women, you sell men's clothing too, find a bit of goldmine in their own closets when they want something new, meaning new to their eyes, but they don't want to pay as much, and we get that because we have a very smart aspirational audience, and many of them are high net worth, so they like to go on this site. i have done it. i have been amazed. you know i want to say something about chanel. chanel to me if you walk in the store, way too expensive for my price point, forget it. i finally got my first chanel jacket by bidding on the realreal, and it was, you know, 700 bucks, whereas normally it would be 6,000. talk about your authenticity because you have as i understand it about 100 in house experts making sure the stuff is truly
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real. >> so we do have. we actually have 100. we have more -- that was the number we reported when we filed to go public. now we have more, and we have gemologists, watch experts, brand authenticators and they train and examine products all day long. and we stand by the process. it's multipoint authentication process. liz: yeah. >> you know, we have warehouses in new jersey and california, so i think a picture is worth a thousand words. i would love to walk you through, having meet some of the authenticators at some point, because it is really remarkable. liz: if that's an invitation, i'm coming because i think our viewers would love to see it happen, plus you are creating jobs from a business that neither owns these products, you know -- or buys them, that to me is so interesting. you are the conduit between sellers and buyers and you do take a consignment fee as well, depending on how much people are
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selling. your sustainability calculator going back to the millennial interest, 1.39 billion glasses of water saved, i like that, but guess what? i know you say the resale world is existing officially with the high fashion names. you struck a deal with burberry and you have mccartney on your side but at some point, julie, you guys are going to step on their air hose. >> well, look, here's -- i mean, it makes sense to have a vibrant resale market. where we find brands -- and by law in europe they have to be more sustainable. i would say leading the edge on sustainability is gucci. really taking a stand in
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sustainability. burberry clearly is. and, you know, chanel actually sadly is the outlier. they are the ones try toing to fight resale and the whole business, but other than that, i mean, we aren't going away. resale is here to stay. liz: yeah. >> and if your product on our site has a high resale value which is determined by the market because our goal is sell at the highest price, it is good for the primary market. when you see brands declining in value on our site, i have to tell you, our customers are smart. they wouldn't buy that brand if the retail space because they think oh, even if i don't want to resell it, it is losing its value. liz: yeah, always. i would just quickly say because we are a business network, while the stock is lower than what it opened at, when do you foresee profitability? >> so we are a high growth company, but we're not a growth at all costs company. so we are managing our growth towards profitability over time. look, we have a huge opportunity
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in front of us. i think the sales estimated in the u.s. alone there's 189 billion dollars of trapped value in people's homes that they are not using. given our size, we have a long way to go, so growth makes sense for us to keep investing growth. but not at any cost. liz: julie wainwright, the ceo and founder of the realreal. ticker symbol real. thank you very much. it's great to see you. >> thank you, liz. liz: big tech helping american farmers at harvest time? how is that working? you have got to see this, ai. we're coming right back. rather than worry about how to pay for long-term care. brighthouse smartcare℠ is a hybrid life insurance and long-term care product. it protects your family while providing long-term care coverage, should you need it. so you can explore all the amazing things ahead. talk to your advisor about brighthouse smartcare. brighthouse financial.
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liz: we all know that ibm really helped revolutionize the world of technology, and now ibm's latest innovation is lending a helping hand to america's farmers. one year ago, the company launched the watson decision platform, specifically for agriculture, with its sights set on making our farms as efficient
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as humanly possible. to indiana, where jeff flock is right there. what can ibm technology do for the average farmer? >> i will tell you, they have really taken technology a step further on the farm. this is jeff kaiser's farm, clay county, indiana, actually jeff helped ibm develop this, what's called the watson ibm decision -- >> decision platform for agriculture. >> to let farmers make better decisions out there, everything from soil moisture to fertilizer, even looking at -- >> even looking at disease, as well as plant population, all of the things that farmers would decide are the best practices, now you have analytics helping them to drive that. >> i see the tablet that you use that tells us some of what we're doing out here, this is a field of corn and perhaps you see -- this is them off loading corn as we speak. this is the way it goes. you just get so much in your
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combine, you've got to off load it at some point. tomas, come back around here, if you can. maybe if he hears me. it is pretty loud out here. i want to show you the tablet, liz, because what it does is it breaks the field down into sections and kind of shows you what the yield has been, how much fertilizer is out there, what kind of soil moisture, that's the field that we're in right now, and that's us as we continue to plow or not plow but combine this field. you helped them design this because in a year like this, where we got bad weather and problems with china trade keeping prices low, all the more important to get it right. >> well, and it's really too complex. there's too many moving parts in order to try and factor itself. really what farmers need is not only data, but they need insights from data. >> not just the data. that's not good enough. you have to interpret the data. >> you have to interpret it and find out what to do next, and we've got several options, so we
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want to know what's the right decision at the right time. >> incredible. it's always great to be out at harvest, but, you know, as i pointed out, liz, this is tuf year for farmers -- this is a tough year for farmers. you know, china and t losses from that market has really been a problem because it's kept prices low in a year when the yields are going to be low as well. so all the more important to get it right on the farm and artificial intelligence replacing -- artificial intelligence replacing good old-fashioned gut and instinct. >> it is really supplementing. i think it is helping farmers to make those decisions and to have the comfort that the options they have are the right ones. >> jeff kaiser, appreciate it very much. man who helped develop this with ibm. exclusive look here at the harvest, the new program on the fox business network. liz? liz: ibm is having a tough day, down about 5 1/2%. but corn is moving higher by
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30 -- let's see, three quarters of a percent for corn. jeff is right, the situation in china has been very hard, so any kind of ideas that can help streamline the process are certainly probably welcomed by of course farmers. coming up, harvard's most famous dropout goes back to school? with the closing bell ringing in 29 minutes, facebook's mark zuckerberg takes the stage at georgetown, just a few hours ago, he is answering some pretty tough questions about facebook's free speech policies. our top tech panel is here to dissect mark zuckerberg's communities as his company still struggles with some major perception problems. "the claman countdown" is coming right back. the dow gaining 61 points.
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>> i'm proud that our values at facebook are inspired by the american tradition, which is more supportive of free expression than anywhere else in the world. but even american tradition recognizes that some speech infringes on other people's rights. yet still a strict 1st amendment standard might require us to allow things like terrorist propaganda or bullying people that almost everyone agrees that we should stop, and i certainly do. liz: that's facebook ceo mark zuckerberg delivers an address this afternoon at a forum in georgetown he talked about how
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he plans to protect free speech on-line while at the same time combatting hate speech. this as zuckerberg and facebook come under increasing fire from lawmakers here at home and regulators abroad, democratic presidential front-runner warren she targeted zuckerberg in her call to break up big tech while the eu is training its eye on facebook's crypto currency project libra. this company is under fire. is this the front of a wave of new scrutiny for the beleaguered social media company? we can already answer that question, yes. but is facebook making any in-roads to fight back? we bring in our panel, colin gillis and market watch tech editor jeremy owens. there's this, zuckerberg was saying that facebook considered banning political ads. now consider doesn't mean taking action. what did you make of his speech? >> well i took it as a change in strategy. zuckerberg spent months and more than a year apologizing, justifying facebook's actions
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saying we're working on it. we're hiring people. now he's changing to either you are with us or against us. you are in the line for free speech and free expression or not. he's taking a very complex issue, making it black a white and putting yourself on the best side of that issue. he says what we do in the name of free speech and free expression and if you are against us, you are against free speech and free expression. it is a cynical point but it might work. liz: colin, does it work? people buy it? >> not at all. you look at it, uber says they are not in the transportation business, they are just a platform. this is facebook going out and saying they are not going to take obligation to try to regulate their platform. it is a difficult spot for facebook to be in because where do they draw the line? they are always going to be in the crosshairs. by saying that free speech, you know, this is going to be a platform and we're going to kind of let most anything go and they took a nice shot at china which was interesting. liz: yeah, you saw that folks?
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in essence what mark zuckerberg said was we don't believe in china and how hard they have been on free speech, that's now convenient to say, the ends justify the means, but facebook wasn't going to get into china at n the first place -- in the first place; right, jeremy? >> they tried for years and they didn't. now it is an easy boogieman. it is easy way of saying if you are not on our side, you are on china's side. he's drawing a line and saying he's on the side of everything good and that americans believe in. again that's a cynical ploy to get people on his side. liz: what about libra under attack from all angles? big companies pulling out right and left. and then you look at the brand issue, the new branding lyft, the so called platinum names, facebook is out of it for the first time. >> they dropped from 9 down to 14, they fell below 40 billion in brand value, dropped close to 5 billion.
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it's an issue of trust. do you trust governments more than you would trust a private company? some people would say yes but not facebook at this time. liz: has it affected the stock? >> no at all. people aren't going to be going on to facebook and saying delete facebook, but you still have more than 2 billion users every single day across the facebook properties. liz: i want to transition to apple. apple got to be number one you saw that on the interbrand list. it is just smashing it out of the ball mark days before it releases -- ballpark days before it releases its streaming world november 1st. eu regulators are sounding the alarm on apple pay, rolling out its financial products saying it's somehow gone too far? >> this will continue as apple continues to roll out new software services, if they are leveraging their advantage in hardware versus other software and services providers especially in europe, they will be looking really hard at are they squashing competition by using the fact that people already have their hardware to force their software and services and get more money out
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of them and squash other software and services that are comparable? this is going to continue to happen as they continu with apple tv plus and other things that they are bringing out. they are already facing scrutiny for spotify and apple music. it is going to continue -- as they continue to roll out new services, they are going to continue to see the scrutiny. liz: we are looking very close to a 52-week high right now. >> yeah, back above a trillion dollars. i mean, and this is apple's business model. they want to take their hardware and put up little tolls to build their services. liz: this stock, folks, its year low was $142. we are looking at it right now at $234. could ve would have should have; right? great to see both of you, jeremy owens and colin gillis. looking right now at brewing up profits with the closing bell ringing in 20 minutes. sam adam putting quite a different twist in a hard market that mass investors cheering. we will tell you why in just a moment. and you may not know this face on your screen, but we are
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pretty sure you've heard him voice some of the favorite cartoon characters of maybe your life and your kids' lives. this week everyone talks to liz pod cast guest is rob paulsen, that voice between rafael, the teenage mutant ninja turtles and of course hello nurse from animaniacs. he's that guy. he went from fighting off characters to fighting for his life. what a story. please let me know what you think. i'm on twitter @ liz claman. spread the word. "the claman countdown" is coming right back. i don't want any trade minimums. yeah, i totally agree, they don't have any of those. i want to know what i'm paying upfront. yes, absolutely. do you just say yes to everything? hm. well i say no to kale. mm. yeah, they say if you blanch it it's better, but that seems like a lot of work.
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they give us excellent customer otservice, every time.e. our 18 year old was in an accident. 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. liz: beer investors hitting their mugs after the shares were upgraded to outperform on some hopped up hopes for its truly hard selzter drink.
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look at this stock, the introduction of new flavors of truly in the coming here will help offset softness for the sam adams beer. it standing at 402.05, a nice $18 gain there for boston beer. we're waiting for a vote on uaw deal and whether it will put an end to the strike, the gm workers 48,000 of them. the deal which does include as we understand it pay raises for those workers would still see three plants including a famed lordstown plant closing. of course the president has put out a major twitter storm about this. he had told workers don't move, keep your jobs there, and of course turns out that that's going to close. we have gm down 1%. but connell, we're waiting, this has gone way longer than we would have thought for the uaw, hours longer. connell: it is interesting to see if there's a little bit more to that than we know and grady
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trimble has been doing some terrific reporting for that. we will have more on that next hour. we also have bob nardelli on the show, former chrysler ceo. he's dealt with this over his career and get insight on not only what's happening with the gm and uaw but what might happen in the future, a look ahead for the industry. we will talk about that. also the made in america push the president has bid on, he being the president in texas today louis vuitton factory, companies whether they are based here or not making their items that they make here in the united states and we will talk to bob about how effective that's been, whether we will see more of that. all that and more after the bell today. liz: chiefs versus broncos tonight? connell: chiefs. liz: broncos. connell: we never agree. liz: connell mcshane thanks very much. charlie breaks it on we works future. we have news on that.
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liz: this weekend is do-or-die for we work as bankers scramble to secure financing and alert the shared office space company of the outcome possibly as soon as tomorrow. charlie gasparino? >> let's get to these headlines. you and i can bounce this around a little bit. jpmorgan is leading the banking effort. they will alert the we work board about financing as early as friday, could be over the weekend, but it is do-or-die time. they are going to tell them about the bank financing. can they get enough money, about 6 billion dollars, can they raise that money? they are now scouring between 60 and 100 possible investors, to raise this money. it's essentially is this, if we work would rather have plan, the
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bank plan as opposed to the soft bank plan which i will give you in a minute, if they can raise that money, it will be borrowing, give them enough time to get them in the crash crunch, likely to run out of cash in november, give them about a year for financing. they can get down to its core business and do an ipo in next year or two. that's the plan here, if that i go the jpmorgan route. that route is contingent however on being able to raise enough money. we should point out if jpmorgan does raise enough money there's a good chance that soft bank will put a little bit of equity in as well. but there's chance. i don't have it right now that they have the money raised. i will know more tomorrow. liz: how much money? >> 6 billion dollars. what happens if they don't raise the money? this is where it gets interesting, two other plans left on the table, soft bank puts in a massive equity fusion and owns it. if that happens they kind of control it. what i'm hearing whether won't be an ipo far long time.
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-- for a long time. if you are an investor in this thing, you are not getting out for a while. it was valued at one point 40 billion dollars it is now valued something at 10. if they don't go that route, here's one other thing in the either, a complete sell of the company, just break it up and sell it. there are investors that are pushing the we work board to break this thing up. adam newman, the former ceo, who is not running the company now. he's a nonexecutive chairman, we should point out. that's where we are right now. we works spokesman had no comment. we do have a comment from adam newman's spokeswoman who basically tells us he wants whatever is best for the xaer xaerng -- for the company, short and sweet. i asked for that comment. that's what i got. the rubber meets the road this weekend. a lot of focus has been on newman on whether he made false statements about the company's
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prospects prior to the failed ipo which brought attention to this company which before that was one of the fastest-growing unicorns out there run by soft bank, the biggest investor in this thing. i understand that adam newman is not under investigation by the sec. liz: he put everything -- >> yeah, but there were also statements he made along the way. this is interesting. you know, we will see where newman comes out on this. if they go the jpmorgan route, if they are successful, i don't have enough information to say if they are, we will know in the next couple of days. liz: he should come on. >> he should come on because the next sort of link here would be restructuring, in a different way, not selling everything off, selling the extraneous focusing on the core and then there will be an ipo, if that does happen, i'm told. at some point. so here's where we are, various scenarios on the table, rubber meets the road, foxbusiness.com, we're going to do a story on this that lays everything out in
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the next couple of hours. liz: great stuff on we works, thank you very much. charlie gasparino. "the claman countdown" is coming right back. dow still up 41 points. heading into retirement you want to follow your passions rather than worry about how to pay for long-term care. brighthouse smartcare℠ is a hybrid life insurance and long-term care product. it protects your family while providing long-term care coverage, should you need it. so you can explore all the amazing things ahead. talk to your advisor about brighthouse smartcare. brighthouse financial. build for what's ahead℠ . .
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♪ liz: three minutes until the closing bell rings. look at the russell 2000. this is the small cap index. up highest percentages. gain of more than 1% today. while other big names are up half a percent to a little bit more. still nice move for the small and mid-caps. you guys are always looking at the end of the show for ways to make money. our "countdown" closer says look for the sun. why are you looking up for your stock picks? >> thank you, liz. couple picks we like, solar edge. if we look what happened in the energy space over the past couple years. obviously the changes we've seen
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with energy being in the dog pound. more and more money being directed towards the solar space. for example, 2020 in california. mandate has been passed all new homes being built have to have a solar system in them. last year the solar stocks came under pressure because of the stock that they were, there was fear there with the china trade tariff situation where a lot of component have been made in china. this should really hit the space hard. with that some of the stocks sold off. this year they had a nice rebound. solaredge is company in inverter business. inverters transform power from dc to ac voltage. so they're a leader in the space. also if we look at, other large investors in the space. we have google. we have amazon. we have, you know, some big box retailers such as walmart and target. they have retailers on rooftops putting solar panels. we like the space.
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liz: you like viva. more after cloud play. we were saying clouds and sky? >> that's right. viva is in the business of making crm software for the biotech space and pharmaceutical space. that is a huge space. really with the changes going to a cloud based platform created a lot more efficiencies for the software space in general. they're really in very special spot because in business, as we know, the smaller your niche is, larger market is. there is not a lot of people in the space that make crm software for the pharmaceutical space. liz: veeva and solaredge. i heard the boston accent sure enough. nick is the president and founder. good to have you on "the claman countdown." markets are looking to close higher, well off the highs of the session. the dow at its height had been
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up 110 points. we look to close with a gain of 30. a lot of question marks what is happening behind closed doors at the united auto workers union. management is expecting to sake some type of vote soon. "after the bell." we'll have it soon for the "claman countdown." connell: strong profits, a deal overseas helping to lift stocks higher. all three major averages end in the green. another day of upbeat earnings. that helped. the dow closes higher by 27 point t was up 110 earlier in the session f it wasn't for ibm it would be better than this. the s&p closing up less than 1%. far less than 1% a quarter of 1%. nasdaq also in positive territory. up by .4 of 1%. there you go. i'm connell mcshane. melissa: i'm melissa francis. we have more on the market movers. what is brand new at this hour, made in america. president trump in texas this afternoon. he i

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