approved by everybody that needs to be approved. we have to give it a vote. sitting for a long time. a lot of money wasted. a lot of jobs wasted. it will have tremendous impact. these are warriors right from the beginning. a friend of mine, mike kelly, congressman mike kelly. mike, stand up. great job, mike. [applause] a man with the greatest name in showbusiness, guy reshenfeld anybody can get elected to congress with that name, you got to be one hell of a talent. when you can have that name and get elected, i will tell you what. but he is a warrior. they are all warriors. this group is incredible. i won't say that about every group. some aren't warriors. this group is incredible. it is called pennsylvania. it is in the genes, it is in the blood, right? [applause] another terrific guy who is

always there, lloyd smareker. thank you, lloyd, great job. [applause] gt thompson, we have them all today, huh, gt? we have them all. [applause] the great john joyce. john, thank you. great job. thank you, john. [applause] dan muser, thank you, dan, thank you. [applause] that looks like cary grant, doesn't he? have you ever been told that? that is not a bad compliment, i must say. today we have tom arnold, those days you had a little different. those days errol flynn and cary grant. somebody that fights like you never seen before, fred keller. [applause] great. doing a great job.

thank you all. these are fantastic people. and david, where's david? is he there? where's david? what happened to him? we won't mention his name. he is in the back. pretend that i didn't say it. when i last spoke at this conference in 2016, american american energy under relentless assault from the previous administration. you know that as well. more than a third of the coal mining jobs had vanished. a moratorium was placed on new coal leases on federal land. drilling and mining on federal lands was blocked and restricted at every turn. desperately needed pipelines were obstructed and denied. federal regulations and bureaucrats were working around the clock to shut down vital infrastructure projects, bankrupt producers, and keep america's vast energies and treasures buried deep under

underground. they didn't want you to go get them. so good for the american people in so many ways. i promised as president i would unleash american energy like ever before because the natural resources do not belong to government. they belong to the people of this country. [applause] american energy belongs to hard-working men and women like you to get up every day and make this country run. [applause] today i'm proud to declare that i have delivered on every single promise i made to this conference three years ago and much, much more. everyone. [applause] cheers. [cheering]

[applause] wow. look at the great people. thank you very much. four more years. connell: president trump speaking in pittsburgh, pennsylvania. we'll monitor the president's remarks. we have breaking news at this hour. welcome to "after the bell." along with melissa francis and i'm connell mcshane. microsoft has reported earnings. deirdre bolton has the numbers. the stock is down 1% after the figures were released. >> that is surprising. we take you through microsoft's report. beat on earnings and revenues. 1.38 a share what microsoft posted. we're in the fiscal first quarter for microsoft for 2020. believe it or not they're ahead. 138 versus expectations for 125. if you look at revenue, wall street was expecting sales of 33.2 billion. microsoft posting 33.1 billion. that is better than 11% gain

this quarter, this year, versus this quarter last year. i should mention as well the earnings growth is a bit better than 10%. what is standing out when you go through the business segments, intelligent cloud, as they sell it, up around 23%. if you look. they run in 10 point $85 billion. ahead of what wall street expected for that particular unit, at 10.94 billion. you have that really exceeding. that is about amazon versus microsoft. amazon still the leader in that space with aws. microsoft's azure is closing the gap. a little indication of gaining more market share there. productivity and business processes, that is around 11 billion, more or less what is expected. personal computing around 4 billion. what is interesting about that middle category, that productivity is that there were some questions/concerns about i.t. spending with business leaders being uncertain.

do they invest in infrastructure and growing with all the concerns about the trade war for the moment. microsoft answering that. not sure why it is down. those are the numbers. connell: up two cents. maybe you turned it around, deirdre. those are strong figures. we bring in our panel to talk more about it. jonathan hoenig, capitalist pig hedge fund, and melissa will jump in as well. charles: surface revenue decreased 4%. i don't know if that is upsetting investors. connell: michael go mere first on microsoft. >> a huge revenue pete, company doing this big, 130, $140 billion in revenue can grow top line 10, 11%, they're doing something right. to have the talk about upgrading

windows, it is windows 7, i'm sorry windows 10 going away. the new upgrade. how much that will affect them next year. i think a pretty spectacular beat for microsoft. >> the stock is down, down marginally. this is buy the rumor, sell the fact. microsoft has been telegraphing these extraordinarily results for the whole year. the stock was up 30% year-to-date before this news. as michael lewded to. they're in the sweet spot, connell, melissa. this idea after platform as a service. they're doing everything rewarded out of wall street this year. that utility model. they don't have the regulatory risk we saw, for example, from facebook on capitol hill. connell: we've say one of the cloud leaders to be fair to folks at amazon, right? they certainly, lance, have done a great job in the space. that is one of the things were looking at. to deirdre's earlier point, will they tell us anything about the

economy, whether people keep spending on i.t. microsoft is in pretty good shape here. lance, your thoughts? >> i had some cross talk in there. i was going to say, something to think about with microsoft, how well it navigated the shift from really desktop business, to oem business to the cloud business. something i'm sure, the ibm wishes it had done as well. something you said about the service business. it is not a big part of their business. maybe it dropped a little bit. we came off a huge microsoft event where they have a ton of new devices. they're pushing the envelope. in 2020 we'll see the duo and the neo, one is like a surface phone. that business is set to grow. connell: talk a little more about that, lance? will dig into the numbers. that is interesting from consumer point of view. i think we're having a little audio trouble, lance, do your best to hear me. apple comes out all the time as you say that is not always the focus with microsoft but what

about some of those consumer products, if you hear me. i don't think lance does. go ahead, lance. >> look, so apple's doing a lot of work to transition its business, even though so much comes from the iphone and other hardware to more reliants on the services business. we're about to see the plus. a smart thing for them to do. all the companies realize they can't rely on one horse. you, microsoft can't rely on windows. connell: right. microsoft is -- melissa: ford is out as well. >> but it is in productivity services. that is a real growing service for them. connell: guys. stick around. lance, apologize for the issues. thanks for your analysis. as always, melissa. melissa: "fox business alert" right now. ford reporting third quarter results. let's go to gerri willis with the numbers. and it looks like from here the stock is taking a beating talk to us about this. reporter: the company is taking

a beating, lowering guidance for full year. adjusted ebitda 6.5 billion. below last year as levels. adjusted eps in a range between 1.20 and $1.32. all about forward guidance where the stock is going right now. for the quarter they're reporting tonight, eps and revenues a beat, 34 cents a share versus 26. revenue of 37 billion versus expectations of 33.98. that looks pretty darn good. they are saying that they see signs of improvement in their business in china. the detail there, they're making country-specific products for china. new country focused products they say at the same time, lowering costs, strengthening their dealer networks there. company tells us they have product renewal in north america. ford explorer, lincoln aviators, here is what is coming, new f-series super duty trucks. it would appear to be good news

tonight for the report, the earnings report but looking forward, not so happy. shares are trading lower. back to you. melissa: gerri, thank you for that. connell: the guidance on the china side not great for ford. you see volumes lower there as well for the full year and for the next quarter. again stock down 3%. let's move on here. pledging to revive the energy sector. you heard president trump moments ago touting jobs and fracking to the working class in pittsburgh today as the race certainly heats up for 2020. to blake burman live at the white house with more what the president is saying. blake. >> i will pick up where you began your show. the president is talking live in pittsburgh, he is at the ninth annual shale insight conference. the president has been on the stage for a little while. the white house pointing out before this, this area includes the appalachian basin which is the largest natural gas producer in the entire united states. part of the reason why the president is there today. but also doesn't hurt of course this conference takes place in the swing state of pennsylvania

in lead-up to 2020. the energy secretary, rick perry saying earlier today, natural gas, able to export it is a national security issue for the u.s. part of the reason why the president is at this conference right now, talking about it. before president trump though left, rather for pittsburgh earlier today, he went to the diplomatic room and made a pretty big announcement regarding turkey. the president saying there had been a permanent cease-fire between turkish and kurdish forces in northern syria. adding because of it sanctions against turkey will be removed. president saying time to let someone else fight in the blood stained sand as he put it. partners will make sure isis doesn't become a beneficiary of the u.s. withdrawal. listen. >> now turkey, syria, others in the region must work to insure that isis does not regain any

territory. it is their neighborhood. they have to maintain it. they have to take care of it. reporter: up on the hill, james jeffrey the u.s. special envoy to syria, testified, 100 isis fighters escaped prisons in the region. the president also saying, should turkey not live up to the expectations, more economic sanctions could snap back on that country. for right now, a live look at president trump, pitburg, pennsylvania, talking natural gas, job production in the swing state of pennsylvania. connell: blake burman on the north lawn. melissa: california in the dark. the state's largest utility about to cut electricity for nearly 200,000 customers in the wake of the new wildfire threat. what you need to know and why one "wall street journal" columnist is sounding the alarm about stakeholder capitalism in action. connell: defend agrisky

enterprise, facebook ceo mark zuckerberg today facing tough questions from lawmakers and the company's push to create its own currency. we'll talk to one of the congressman that pressed zuckerberg on capitol hill with moving testimony in a back and forth with the ceo. that's coming up. melissa: history in the fast lane of the most powerful street legal ford mustang ever built is on the road. we're taking you for a ride. why did we not get this assignment? connell: we should have done it, earnings from there, the whole thing. melissa: that looks fun. ♪. into one monthly payment. and get your interest rate right. so you can save big. get a no-fee personal loan up to $100k.

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am i allowed to riff? what if i come out of the water? liberty biberty... cut. we'll dub it. liberty mutual customizes your car insurance so you only pay for what you need. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ melissa: no likes for you. mark zuckerberg getting drill by lawmakers on capitol hill. the hearing wrapping up. hillary vaughn is in washington with the late-breaking details. hillary, how did it go? reporter: melissa we're waiting for zuckerberg to leave right now. he endured about six 1/2 hours of questions from lawmakers today. three different times he was told that actions speak louder than words. that chairwoman of the house financial services committee, maxine waters, kicked off today's hearing by essentially reading off a rap sheet of facebook's bad behavior, ranging from russian meddling in the 2016 election to data privacy concerns. zuckerberg showed up today, trying to make the case that

facebook should be allowed to roll out their own currency. digital currency libra. also build their own global payment platform. he admitted though that congress may not see him as the ideal messenger based on his company's past. >> would you leave behind your children's inheritance in libra? >> congresswoman -- >> do you believe in what you're building? >> yes i do and -- >> would you leave behind your children's inheritance in libra? that is a fair question. you have proven we cannot trust you with our emails. with our phone numbers. so why should we trust you with our hard-earned money? >> well, congresswoman -- >> reclaiming my time. if you can't answer yes or no, would you leave behind your children's inheritance in libra? >> congresswoman i would. reporter: zuckerberg defended his decision not to fact check

any political ads on the platform. he believes he should not be in the practice of censoring politicians. that got push back from some lawmakers on committee, but from chairwoman, maxine waters but congresswoman alexandria ocasio-cortez who pressed him about what, if he is concerned about the impact that may have on democracy by allowing politicians to post ats that could be fake or untrue? zuckerberg's response was, he believes that lie lying is bad in democracy. he doesn't believe facebook should be in the roll of censoring facebook's bottom line. questions why their company should be trusted to roll out a cryptocurrency platform. he tried at least to make the case for that today. melissa? melissa: hillary, thank you for that. connell: a long day. emotional moment at the hearing came from congressman in new york, gregory meeks, about to join us. let's listen. >> action speaks much louder

than words and you do have a trust factor. i mean i met with a lot of investors who are pulling out of libra. let's look at the news, bus the other thing that is most important to me, is our democracy. connell: congressman meeks with us from capitol hill this afternoon. so for people who didn't see that in person, can you explain, you were talking about minority depository institutions right, whether or not facebook is investing in those institutions. explain a little bit what you would like to see that you're not seeing? what exactly were you challenging the ceo on? >> what i was challenging him on in his opening statements, in his justification for libra was how libra was going to help those who were unbanked or underbanked. and you know, so i did not see, so that was something that supposed to make him feel that he is addressing issues and concerns of many members on the

committee. well, the best way here in the united states to begin to address the unbanked and underbanked is invest, putting deposits into some of the and community and small banks. connell: right. >> that will give them the wherewithal. he has we're saying, much money have you depos mdi? connell: just so i'm clear what i was listening, you were talking about his personal money, his personal fortune going into the institutions or facebook? >> facebook. connell: so you would like to see facebook do what exactly? >> facebook could put as well as the government, its money into mdis, that would then raise the capitalization of those banks. so that they could properly serve underbanked and unbanked communities. connell: is this something you're talking to other companies -- i could see a point a government program was doing

that and the government was going to make an investment like that. is this something you're talking to other companies about? >> absolutely. connell: how have those conversations gone, not just facebook? >> top 10 companies is companies that i want to have this dialogue and conversation. connell: have others committed. you talked about facebook -- >> i will be tough. the reason why i was tough on facebook today, in particular, s tough as i was, he continues to try to say the reason that he needed a, we should support libra was the cause it would up unbanked and underbanked. connell: the other side? >> on the other side, that's correct. that what i want to get to other banks to acknowledge they're not doing it, they need to do it. they don't come out in the opening statement and say this is why you need us. small banks and minority depository banks, they're the ones that say they need capitalization. connell: let me ask you one final question just on the topic of today's hearing, this digital

currency. if it wasn't mark zuckerberg and it wasn't facebook making this presentation today, to you guys in congress, could you be supportive of this? idea of creating digital currency to make mobile payments easier to compete with china, that kind of thing? would you be supportive of it in principle are you against it? just facebook in other words? >> facebook has a credibility issue. that is the problem with facebook right now. there is a reason why all of the other companies are now pulling out of facebook. connell: so its the messenger? it is the messenger? >> i want to make sure whether facebook or anyone else, i have the responsibility making sure there is investor protection and consumer protection. making sure there are rules govern the game in regards to it as we move forward, so we don't create a financial crises. connell: sounds like you're open to it? you're not closing it off. >> that's correct. connell: your issue with this particular company? >> i understand technology. i understand that it is going to open doors.

we have to make sure we do it, but do it in the right way. connell: congressman, good to see you again, thank you for coming on. congressman gregory meeks from new york. melissa: "fox business alert." ebay reporting third quarter results. let's go back to gerri willis with the numbers on this one. reporter: melissa, we're seeing fourth quarter outlook are little light. shares are selling off 3 1/2%. let's get into the third quarter results. it's a beat on the top and bottom line. you saw the numbers here. so we've got eps coming in at 67, versus expectations of 64-cent a share on revenue line, we got a beat too. it is outlook which is a little light, has the shares lower. remember this company's ceo resigned last month. meanwhile, stubhub is up 5%. company is reanalyzing stubhub business. they grew active buyers by 4%. so beat on the top and bottom line but we don't like the future. back to you. >> gerri, thank you. connell: busy day.

waiting for tesla. we find ourselves waiting a long time for tesla. a fox business exclusive. meantime i have a sit-down with a top huawei executive coming up later in the hour there is news about this company. you know they're blacklisted. huawei working with american businesses despite the blacklist in the u.s. we'll tell you how when we return. ♪ mhm, yeah, that too. 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. now offering zero commissions on online trades. we charge you less so you have more to invest. ♪

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fidelity has zero commissions for online u.s. equity trades and etfs, plus zero minimums to open a brokerage account. with value like this, there are zero reasons to invest anywhere else. fidelity. connell: "fox business alert." you look at microsoft's stock price which fluctuated since the earnings report came out. it has been up and down. down two cents right now. it is a strong number as we talked about at the time. growth in the cloud computing platform slowed from a a yearer. buzz that wall street expected more. the stock is flat. azure revenue was up 59%. last year they showed a 76% growth. splitting hairs a bit. microsoft not muching move after

hours. melissa: working toward u.s. trade approval. robert lighthizer meeting with lawmakers over the new north american trade agreement over concerns that the deal is stalling. fox business's edward lawrence is live on capitol hill with the details. that is bad news, melissa. reporter: he met with the democratic working group this morning on capitol hill. the house ways and means committee chairman richard neal part of that group says they worked out a few bumps of the deal. they have a handful of issues left. the chairman says they are on the path to yes. house speaker nancy pelosi says she is on the path to yes for this, however still concerned about enforcement provisions specifically in labor and environmental protections. now on the senate floor today, senator richard grassley came out and said that the, he is concerned that it is less likely now that house democrats will bring usmca up for ratification in the house this year. he says that what the democrats are doing is a stalling tactic.

>> president trump has done his job. he has renegotiated a trade deal. that nearly everyone besides a few congressional democrats can agree is better than predecessors we know as nafta. reporter: the u.s. chamber of commerce and the trump administration say there is enough votes if usmca is brought to the house floor now for ratification. we even president obama's former commerce secretary is on capitol hill. he is talking to lawmakers to try to get them to a yes. >> we want the agreement passed as soon as possible because it will really benefit many american companies, whether it the dairy industry or wine industry of california my home state of washington to automotive workers and even those who engage in e commerce, whether games, software, ebooks and music. reporter: also on capitol hill today, another deposition run by

representative adam schiff, this time pentagon officer laura cooper. only this time, dozens of republicans not on the intelligence committee, stormed the room, went into the room, to see the top secret proceedings. it delayed those proceedings. after several hours this afternoon, they ordered 17 pizzas and two bags of chik-fil-a to come in. they called that supplies, refreshment supplies. that hearing was delayed. back to you guys. melissa: edward, did you get any chik-fil-a, that is the important question? reporter: i did not get any chik-fil-a. refreshments for those folks trying to see the proceedings inside. i did not. i love chik-fil-a. melissa: me too. the government less so thank you. connell: moving forward with a plan that will impact nearly 200,000 residents, pg&e is planning to shut off power across several california counties this afternoon. what you need to know about that coming up next. melissa: plus it is the fastest and most powerful mustang ever. we're getting an inside look.

gary gastelu is in las vegas at the motor speedway. he has even better one? what is happening here? that is so unfair. connell: he gets all the fun. have you seen this, nicholas the rescued dolphin at florida's clearwater marine aquarium, is known for his world series predictions. he is weighing in on the church game. melissa: i have been down to see him. he is good. connell: see the hat? going with the nationals. he is predicting nationals win. they won game one. nick predicted astros would win in 2017. this time nationals. i will be at the world series for game 3. we'll have "after the bell" live from national as park in d.c. first world series game in washington since i believe 1878. melissa: i'm jealous. i'm going to the clear water aquarium. i love it there. you go to the world series. i see the dolphins. connell: each its own. we'll be back.

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♪. melissa: going dark once again. pg&e announcing it will move forward with more triggered blackouts to seven teen northern california counties. 179,000 customers will be left in the dark starting in about 30 minutes. the mayor of san jose is so distressed what is going on in california, he wants to buy out the utility. >> doesn't need to change anything about the scope of the

company or what it does. but, what it helps to do, it enables the company to get better access to capitol, much lower cost of capital. it wouldn't be subject to federal taxation. it would not be paying dividends to shareholders. it allows financial interests to the public interest. melissa: we have lisa finley from the "wall street journal." she wrote an op-ed, welcome to stakeholder capitalism in action. this is a great op-ed and you really put your finger on why this is kind of where we're heading with this terrible situation. how have we come to this mess? >> actually fascinating if you read through pg&e's annual reports to shareholders and how much they pay feelty to stakeholders. its stakeholder model is as elizabeth warren expressed in her town hall capitalism act, businesses must not just serve shareholders, customers,

workers, environmental groups, the community, all very nebulous but as we've seen in the case of pg&e it is basically primary to serve the politicians. politicians and regulators in california imposed a number of mandates, renewable mandates. they have quotas on the diversity for utility suppliers. somehow managed to neglect whether pg&e is even following basic safety protocols. melissa: what is interesting about this is, you can see exactly what the problem is. they're shutting down the power because they keep having fire because the grid and infrastructure is out of date. there are sparks flying. people are not clearing the brush away. they're not doing it. everyone is concerned about the environment. in the end they decide the real solution is shut off everyone's power. so they're sitting there in the dark which is obviously a horrible solution. you wonder how you got there. you look at that, they're working on things and spending money on state law requiring them to obtain 60% of their

power from renewable sources by 2030. at a time they're going bankrupt, they can't keep the lights on, they're not clearing the brush, they're not building infrastructure, they're spending their money on getting towards more renewables, and you say that is because they have to kowtow to regulators? they're doing what politicians tell them to, instead of pursuing profit and efficiency? >> that's right. it is interesting, pg&e in its bankruptcy proposal proposed renegotiating a lot of contracts power purchase agreements with solar wind farms. it could save them $2 billion if they renegotiate them to the market rates. a lot of contracts signed prior to 2010 when rates are lot higher. politicians weighed in, gavin newsom, democrats in the legislature, that you can't do that, this would save customers

$2 billion they prioritized saving the renewable developer. melissa: they're focused at a time when they should be focused on keeping the lights on and not causing fires. instead, you know they're looking at diversity in their workforce and diversity on the board which are great values but those are, when you're not even keeping the lights on, and people are sitting in the dark and, you know, businesses are losing money, there are fires happening, there are other things to worry about, what about, who do you blame for the brush clearing? they say it is global warming. it has gotten very dry there. i lived in southern california. these winds come off. there are a lot of fires this time of year. that was 25 years ago. looks like the same thing now. who is really at fault in that part of the equation in your mind? >> government is absolutely in charge of clearing brush on government lands and public lands both in southern california and northern california. the bigger issue has been northern california where you

have 140 million dead trees. part of it, some on federal lands. some on state lands and private property. a lot of it mandates, regulations, prevent private owners from clearing brush on their own land, if you can believe that or not. so you're seeing the results of many state policies, now, igniting. melissa: literally. alicia, thank you. appreciate your time. connell: some story. inside scoop coming up. exclusive interview with senior vice president at huawei. we'll tell you how the company is getting around, trying to get around the blacklist. that is coming up. tiffany's latest idea counting down to the holidays. how about this a calendar, priced in the six figures! the luxury jeweler unveiling ultimate advent calendar. melissa: i love it. connell: i know you do. 24 pieces from dimonds to perfume. you have to be ready to splurge, the collection costs $112,000.

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connell: making a major claim. fox business exclusive interview. vincent pang a senior vice president at huawei. the company has been blacklisted

here in the united states. but apparently it is working on a plan to still work with american companies. take a listen. >> we can license, you know, the patients or products to any potential american partners. connell: do you have any lined up? >> yeah. we do have some inquiring, interesting, you know, they have parties to ask about that. connell: some u.s. companies, so we're clear what actually happened, come to huawei, said we want to license your technology. that is where we are now? >> they want to ask what exactly means, we have interesting, that's it. connell: okay, that would give you kind of a footprint still here in the united states so to speak? >> still too early to see. connell: we're joinedly lance ulanoff. we thought huawei was out of the u.s., what about the idea for good, if we can't work there, we'll sell you technologies,

does that create issues for you? what do you think? >> very murky. a lot of american companies don't have the idea what real rules are. mike con and intel or sending products from huawei for integration in their products. keep in mind, one of the biggest telecom and phone companies in the world. people want to do business with them. i think it is clear from those statements there, you know, people are asking huawei, what are the rules here? can, you know, we license stuff with you? is it okay? because no one seems to quite know. also no one quite knows the road ahead. connell: how do you think it ends up? do you think huawei is completely out of here in the u.s. even this licensing, maybe that ends up being banned or part of a trade agreement where the company still does business with the big chip companies. how do you think it ends up? >> i wish i had a crystal ball, really hard to say what will happen here. i mean they're, i just don't honestly, i just don't know.

connell: right. >> because there are too many factors at play. we know huawei is not slowing down. they just released a x, only in china. by the way that is the folding phone. they are also using a unlicensed version of android but they don't have any google apps. >> because they're not allowed to work with google. >> doing what they do in the u.s. connell: it is weird, one of the things, even, what type of a job our government has done, you know, huawei is the big threat, everybody says they are, there is reason to believe they are, indictments that would lead you to believe that they are, why aren't our allies on board more like germany, for example? is not banning them. we don't know what the uk will do. i asked vincent pang about that. here is what he said. take a listen. >> the market realizes the value huawei brings to the local markets. not only benefits from commercial competitions. also about the local innovations, ecosystems. connell: what about the uk, is

there any chance they will ban huawei's technology do you think? how have the conversations been going there? >> we're still looking forward, for, any official decision coming out from, the government. connell: right. >> but definitely we're alr some partners in the country already. connell: would make a better case for the u.s., wouldn't it, lance, if big allies was onboard with blacklisting of huawei? otherwise it allows company to say good enough for germany or the uk, should be good enough for everybody? >> i think tension caused by the rollout of 5g. everybody wants their country on the 5g. that is the next generation of mobile connection activity. huawei is leader. there is that poll. there is the absolute coast aniness -- coziness of huawei between the chinese government. there is no way to get away from that and the agreements and

interference. there is hacking that comes from china. you have a company that works with china, but it is not in huawei's best interests to allow the chinese company to do something that could harm the u.s. this is crazy thing you have to decide, do you trust the company? u.s. is saying no. the other countries are saying we don't know yet. connell: germany said yes, which is interesting. we don't know what the uk will say. lance, good to see you as always. lance ulanoff. >> pleasure. melissa: launching to the future. ford debuting the fastest, most powerful mustang yet. fox business's gary gastelu is taking it for a ride. that's next. ♪. each day our planet awakens with signs of opportunity. but with opportunity comes risk. and to manage this risk, the world turns to cme group.

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melissa: fox business report, tesla reporting third quarter

results. let's go to deidre with the bolton. >> it looks like a beat. i'm going to continue to crunch the numbers for you, but i wanted to bring you this revenue number, which is exactly in line with what analysts were looking for. 6.3 billion dollars for tesla. so as i mentioned that is exactly in line. and i think what this shows and what we are waiting for too is the production, the number of vehicles that were produced in this quarter. basically to be on target for the year end production figure. tesla would have had to have basically churned out 100,000 cars. so we need to see if that's going to happen. one interesting side note, and i'm waiting for details coming through as well from china, as we know, sort of the biggest market in the world for electric cars. you know, tesla has that shanghai production facility up and running. now these cars that were sold in the current quarter did not come from that facility, but this is essentially the first fully owned car plant for any american company, which is in shanghai,

so i'm going to wait to see if i can get some information from there. in the meantime, you have the stock moving much higher in the post market session. revenue matching and eps, it is a beat. the question is just by how much. melissa? melissa: we are watching the details scroll through here. connell, why don't you take it away. connell: quick reaction from our panel, jonathan and michael, before we hand it over to the bulls & bears. it is either a big beat or a really big beat. it is a good quarter in terms of expectations. i think that bar had been lowered; right? disappointing vehicle production numbers earlier in the month and now the stock is up 9%. >> exactly. i think that's right. expectations had been lowered significantly for tesla and still even despite the beat, a lot of uncertainty about its self-driving program, about its energy business, about the model y and perhaps most importantly

to drivers about safety concerns. just today new safety concerns. the stock is popping but certainly the company on a fundamental level not out of the woods just yet. melissa: cash and cash equivalent, 5.3 billion, cash flow less cap ex 371 million. michael, you're a tesla guy. what do you think of the stock? >> the stock is a great way to gamble. you don't have to go to las vegas. the short interest of the stock is enormous so any positive news it goes to up the side and vice versa to the down side. when you have a beat like this, no surprise 10% move after market. you could do it from the comfort of your own home instead of going to vegas when you play this. connell: it is a volatile one for sure. thanks for that. i want to wrap it up. you have been very very helpful on a number of topics, huawei to everything else. thankses -- thanks to all three of you. looks like tesla as of now will

be a big one tomorrow. melissa: throwi ining out some details we are getting there. connell: a lot of people have been interested in what they are doing in shanghai. busy day to put it mildly. thank you for joining us. melissa: bulls & bears right now. >> i promise that as president i'd unleash american energy like never before. our natural resources do not belong to government. they belong to the people of this country. today i'm proud to declare that i have delivered on every single promise i made to this conference three years ago and much much more. [cheers and applause] david: the president just wrapping up his remarks on shale and energy independence in the key battleground state of pennsylvania. trump touting the economic benefits of fracking and job gains in that state. this marks the president's second trip to the region in just les than three months. -- less than three months. with sanders and warren pledging to ban fracking