tv The Claman Countdown FOX Business November 19, 2019 3:00pm-4:01pm EST
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would you touch any of these broken ipos? >> well, if you're not touching it, i'm not touching it. [laughter] charles: the tow's off 100 -- the dow's off 100, liz claman, over to you. liz: you know what we call it, charles? we call it a split decision. charles: there you go. liz: not evenly split on wall street. at this moment we're looking at the dow, the s&p and the nasdaq. the dow is down 100 points, the s&p, literally just turned slightly negative. the nasdaq is still touching an all-time record, up 29 points. the dow started to slip just before noon eastern time when president trump issued another tariff threat. we are going to tell you what warning he made to the chinese, but it was not solely limited to china trade. we're about to take you live to the white house for the very latest. we are also watching a bitter broadband battle playing out across the heartland. rural residents desperate for
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broadband and wireless action. while the government toys with china's tech behemoth huawei, our expert panel is here on whether it's the chinese telecom on rural america that will be tripped up in this 5g race and battle. could crystal currency one day make the u.s.? the american dollar, the greenback irrelevant? the ceo of block chain facilitator is here in a fox business exclusive to tell you if the nation's financial system should be fighting the digital disrupter or embracing cyber similarities. plus, baked, smoke stocks up in smoke, cashing in on medicare for all, and charlie breaks it on the latest twists in the weworks saga. we're less than an hour to closing bell, let's start "the claman countdown." ♪ ♪ liz: we need to take you right now to the white house --
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rather, the capitol. the house voting right now on a continuing resolution to avoid a government shutdown which is supposed to come on thursday, and we are getting this news right now breaking. there are enough votes to pass this continuing resolution. now, the deal will stretch current budget levels out not even that far, until december 20th. if it passes, it will then go to the senate for a vote. we understand that the trump administration says it supports the bill at the moment, so we will let you know. but right now they have enough votes to pass it. there is coal in coal stock ahead of the -- kohl's stock, the retailer cut its full-year earnings forecast. the news sent nordstrom and macy's -- not even just kohl's -- down as well for the sale rack. macy's getting further socked by reports of a data breach last month. nordstrom down 6.25, macy's down 10.5%. home retailers taking a hit
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as well after home depot cut its full-year forecast and outlook, the second time this year. intraday it's an ugly picture, but even compared to the day before, it's even worse here. the stock is down about 5% at the moment, and lowe's is also getting hit, that one down one and two-thirds percent. it reports, by the way, for lowe's tomorrow. yesterday right before the bell remember i showed you the amc entertainment stock plunging 6%? today it's pretty much gained all of that back. right now the stock is flat, but the justice department -- took awhile for this news to shake out and hit the wires, but justice department apparently has made a move to throw out the so-called paramount decrees. that's a 70-year-old decree that prohibited film studios from owning theaters. the end of this antitrust order could allow studios to buy movie theaters across the u.s. now making ams an attractive target. normally that would move amc
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much higher. at the moment it's flat, but media companies like viacom, disney, fox and cbs are all moving higher. fox, of course, sold its entertainment assets to disney, but who knows? you never know if a live news and sports company can jump in there as well. morgan stanley chipper on broadcom. the bank raised the chipmaker to overweight and increased its price target to $367 a share. we're at 319 right now. morgan says that broadcom will be able to build on its semi leadership while tersefying into software. broadcom jumping 2.5%. black friday is just over a week away, but can we really call it black friday? i mean, deals starting not just a night earlier, but now weeks earlier. over the next few days, some one dozen retailers will report quarterly earnings. they include urban outfitters,
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target, lowe's, l brands, macy's, gap, nordstrom and, of course, foot locker. kohl's e and home depot, as we mentioned, disappointed. however, one retailer so far that has reported is bucking the downward trend. tj maxx, ticker symbol tjx. hitting a record high after beating on earnings and raising full-year profit forecasts. but what should we glean from the fact that it is a discount retailer that had such a strong report? is this maybe a canary in the coal mine type of signal that the consumer may be shifting? we bring in our floor show traders, smartest guys in the room, as always. john corpina, what do you think? anything that you read between the lines of tj maxx's success and some of the others faltering? >> you know, liz, you mentioned the word shifting, and i think that's a continued theme that we're seeing in this sector here. we've shifted away from brick and mortar and gone to online. it seems like it might be shifting back in some direction at that point. but clearly, we're going to get
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a lot of mixed reviews out of the retail sector just because of that. consumers are buying things if spending their money in different way, and they're got many different options out there. kind of interesting that we're going to get this mixed report now as we head into the holiday season, because once we get through that, i think we'll start to see a rebound from those numbers as we've seen historically. liz: well, but the question is, chris, what is it? it's not interest rates. we have very low interest rates. is it the tariff wars? because we did hear from the tj maxx ceo who went on his conference call and basically said when asked about tariffs that, quote: seeing pressures, they're now seeing pressures on their margins, and when asked about how you mitigate the tariffs, basically the ceo said we're accepting the fact that 2020 is going to be difficult. unfortunately, it's going to become more challenging. so give me a sense of what you feel, chris. >> well, also, you know, that came out in the home depot as well, they were talking about the tariffs impact and
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negatively. at the end of the day, the one driving force that separated the u.s. from everybody else has been the u.s. consumer. it's been strong despite all the negative stuff thrown at it, there's a long, long list of negative stuff to worry about, the consumer's held very strong. so i would say, you know, one or two earnings misses, you know, we really haven't had any misses so far in this earnings season. so, you know, i'd be more concerned about where we are six weeks from now when you start to see a little bit of more misses, but one or two i'm not going to get too worried about. i think we're going to finish the year strong. here we are at record highs and, you know, i would also say this, we're six or seven days away from thanksgiving. you're going to start to see much thinner trade anyhow -- liz: yep. >> and we'll see how she goes. all in all, i'm not too worried about it. liz: me either. also great point that chris makes is the thinner the volume, the wider the swings sometimes. we see a little more volatility. phil, a choosier customer, we saw that right after the housing
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bubble burst where people were really holding dry powder in their wallets, basically saying, you know what? i'm only going to buy the best of the best or what i need. or the less expensive versions. do you see any of that behavior coming through? >> really not. and, you know, i think we're just seeing the markets move from store to store to store and platform to platform, you know? some the brick and mortar stuff, you know, is successfully moving towards your amazons, and i think some of these stores, believe it or not, liz, they just aren't doing a good job, you know, attracting people into their stores. kohl's a couple years ago did a great job trying to team up with amazon, but they didn't build on it. and then you have tj maxx down the street, they're killing it right now. liz: yeah. >> i think it's more about getting your story to the consumer and make it compelling enough for them to come into the store. obviously, tj maxx is doing it and kohl's is not. liz: tj maxx is -- when i go in there, i go for one thing and i buy 50. [laughter] >> exactly.
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they plan on that. liz: gentlemen, great to see you. >> thank you, liz. liz: we're watching the markets, folks, and we're waiting to see, remember, any increase, any jump no matter how small for the dow, nasdaq and s&p will be an all-time record. what a difference half a day make. twelve hours after president trump tweeted yesterday that he just, quote, finished a good and cordial meeting at the white house with federal reserve chair jerome powell, the president late last night did a 180, going on a twitter tear against the federal reserve chair. around midnight donald trump tweeted, quote: at my meeting with jay powell this morning, i protested the fact that our fed rate is set too high relative to the interest rates of other competitor countries. in fact, our rates should be lower than all countries. parentheses, we are the u.s. too strong a dollar hurting manufacturers and growth, exclamation point. this as stocks are retreating, the experts say, from their new record highs on not interest
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rate levels, but reports that the trade war between the u.s. and china just hit another stumbling block. it's gotta be the 8th on the road -- 80th on the road to phase one. blake burman, the chinese feel that the u.s. hasn't shown much movement on china's request to roll back the tariffs, right? >> reporter: yeah, that's right. and as we've been reporting here, liz, the u.s. and china have a couple different views as to how tariffs should be treated going forward. the u.s., according to sources, wants tariffs to be rolled back at some point or at least in some size as the trade deal gets completed whereas china wants them to be rolled back in phases with all of the tariffs from the trade war eventually taken off once there is a completed trade deal. so there's two different ways as to which this is being viewed. president trump has shot down the possibility of a full rollback of tariffs as china wants, which is what sources are telling us. but earlier today he spelled out
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the potential consequences as to what could happen if there's not a trade deal. listen. >> china's going to have to make a deal. if they don't, that's it, okay in i'm very happy with china right now. they're paying us billions and billions. with that being said, i are a good relationship with china, we'll see what happens. but i'm very happy right now. if we don't make a deal with china, i'll just raise the tariffs even higher. thank you very much. >> reporter: so as the president was making those comments today, liz, on the potential china trade deal, the other trade deal -- the usmca -- is also grabbing a lot of attention as the administration is going with coast to coast interviews today trying to push it forward. it's been interesting to see a new argument, liz, that has been unveiled by the white house today as they are starting to make the case that there is a, quote, quid pro quo involving the usmca and the impeachment inquiry up on capitol hill relating to dem9 cras. listen -- democrats. listen to the comments made by
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the vice president's chief of staff, mark short, a little while ago. watch. >> no substantial changes made in usmca since it was sent to congress, so we're sitting here months later with no progress, and i don't think you can help but wonder is there not a quid pro quo to say we're going to hold the dow over here to make sure that my members will vote with me and i'll give them this vote? >> reporter: the argument being made from the white house is that there were 31 democrats who won election in 2018 in districts that president trump carried in 2016, and what mark short is laying out there is their theory that maybe nancy pelosi is saying if you give me a vote on impeachment, these 31 democrats, then i'll give you your vote on usmca. we should note, liz, this appears to have been moving closer to the finish line. pelosi has been talking up the prospects of usmca, but there is certainly this push today from the trump administration to actually get it on the house
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floor. liz? liz: okay. everybody talks about how we're getting closer and closer to that, it seems like usmca should be done, hopefully, soon. >> reporter: they are, they are hoping for at some point this year but, remember, the timeline was october, then it moved to november, and now we're talking about this year, which would bring in december. liz: uh-huh. it's like a -- [laughter] a moving target constantly. >> reporter: you started off by talking about 180s, we have 180s every now and again in washington. [laughter] liz: blake, i'm glad you're at the helm there. keep us posted. vaporized, with the closing bell ringing in 47 minutes and the dow down about 78 points, vape stocks are getting real smoked at this hour after the new york attorney general announced a lawsuit just a few hours ago against e-cigarette giant juul labs. now, altria owns 35% of juul, it's dropping nearly 3%. philip morris owns the juul rights outside the u.s.
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it's down 1.5%. up next on "the claman countdown," what attorney general leticia james accuses juul of doing. that is next. please, stay with us. ♪ ♪ (people talking) for every dollar you spend at a small business, an average of 67 cents stays local. shop small and watch it add up. small business saturday by american express is november 30th.
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general leticia james. she announced she is suing e-cigarette maker juul over its advertising practices. in essence, accusing the company of targeting minors. california had announced its lawsuit yesterday, so now we have two here. altria, as we mentioned, owns a 35% stake in juul. states are taking action, not just new york and california. this as the trump administration comes under criticism for not only walking back its promise to ban most flavored e-cigarettes, but going kind of radio silent on that threat. joining us now with the details on the new york a.g. lawsuit is kristina partsinevelos life from the financial district in lower manhattan. this is an interesting one, because at first the administration was going all out, hamminger vaping and -- hammering vaping and how bad it was for minors, and now they've gone silent while states have gotten louder.
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>> reporter: right. the president seems to have backed down when it comes to a nationwide ban, but you have the new york attorney general actually say that juul took a page out of tobacco's playbook, you know, 50 years ago with their deceptive advertisements, attractive models, catchy words like hashtag vaporize. they even through parties in new york city, in the hamptons, which is why she's suing juul for misleading youth. they said right now juul has a 70% market share, and they do believe that they are responsible for this epidemic, this vaping epidemic among -- month -- amongst youth. just in 2019 alone, 34.1 million -- 4.1 million high school students vaping, and those numbers continue to climb. just over the last three the years or so. juul wants the narrative to focus more on adults.
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i reached out to them, they said they are focusing on having adults quit smoking and instead, you know, transition to these vaping-type products. they also told me that they haven't reviewed the lawsuit just yet, but -- and i quote -- we recently stopped accepting orders for our mint juul pods in the united states and us if pended all broadcast, print -- suspended all broadcast, print and digital advertising in the united states. to bring us full circle, liz, you have a situation where right now there are 42 deaths across the country linked to vaping and e-cigarettes. there still needs to be some research. altria shares are down on the news because they have the largest stake in juul. but new york isn't the only individual state. you have california, but you also have north carolina that is, created a lawsuit and several other school districts as well as states that have joined forces to continue this fight against vaping. so it's notten ending here. liz? liz: it isn't.
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and this battle will go on because i'm just saying, i would be furious if my children vaped, but, you know, if you buy a knife and somebody takes one and stabs, you don't ban knives. i think that there has to be personal responsibility here. clearly, there are questions about juul's deceptive advertising. thank you very much, we appreciate it. breaking news, we did flag it at the top of the show, but now it is official, the house has passed that interim spending bill that will keep the government funded through december 20th. and the can continues to be kicked down the road. [laughter] , microsoft picking up the slack with about 39 minutes to go before the closing well rings. the tech titan, one of the dow 30's big winners racking up a new all-time high. we do have microsoft right there, it's at least in the green at the moment up 14 cents to $150.48. this as its workplace instant messaging service called teams
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hits 20 million active users. the big news causing some big headaches for team's close arest rivals, slack. slack shares clearly not in working mold, down 9%, the stock since since it went public is down 11%. up next, amd looking at its longest win streak since 2012. gerri willis on why this notoriously volatile stock is doing so well when "the claman countdown" comes right back. ♪ ♪ ♪ ♪ ♪
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>> reporter: yeah, you bet. this company is the best performer on the s&p 500 this year. advanced my -- micro devices, chipmaker, they've gone up about 13.5%, very good, indeed. and traders down here say, look, if the trade deal occurs, this stock and invidia where will have the biggest pop. they've got a new graphics card out there and on track to gain share and expand margins. that's music to the ears of investors. third quarter earnings had the highest revenue in more than a decade. they are firing on all cylinders here, and you just have to stand back and say this is why you want to be an investor, right? liz: yeah. i'm looking back at 2012 and trying -- the hunger games was the first film of 2012 to hit the $500 million mark, and that means nothing, right? [laughter] but that's how long ago it was, the first hangerring games --
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hunger games was out. to 5g fight. with the closing bell ringing in 34 minutes now, huawei gets some good news from team trump, but could bad news be literally right around the corner? our expert panel is here to tell us if the chinese telecom and phone giant is a necessity to expand broadband not in china or around the world, but across the u.s. heartland, or is it simply a national security nightmare? "the claman countdown "coming right back. ♪ ♪
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♪ ♪ liz: it has been a whiplash week not just for chinese telecom giant huawei, but the companies and the organizations here in the u.s. that either do business with them or need their parts. yesterday the once again actually extended the temporary general license which allows american companies only to sell to huawei, not to buy the equipment, but to el to huawei. -- sell to huawei. huawei was put on a blacklist due to security concerns back in may. the worry is that huawei is installing secret spy equipment within its telecom equipment. now, those same concerns may change huawei's fate on friday when the fcc, the federal communications commission, is expected to vote on whether to ban federal subsidies from going to the chinese telecom giant.
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let's bring in to discuss this cybersecurity expert who founded the george mason law school national is security institute, he's also the senior vp at iron net cybersecurity, jamil jaffer, also senior reporter john schwartz. all right, to you first, jamil. just clarify where for our view, because every time we do this segment i ask people is huawei a national security issue and threat or not? because everything else is just conversation. >>, no absolutely, liz, huawei and zte are serious national security threats. they are, you know, built off of a chinese government infrastructure which has stolen intellectual property from the united states, they have an active effort to get into our and ally communication systems x the reality is that the chinese legal system is such that huawei and zte can get at communications without the normal procedures in place in the west. that's a huge issue and one we should be deeply concerned
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about. liz: okay. yes or no, jamil, should it be banned from the united states? >> absolutely. liz: okay. let me get to john. jamil has just stated, and he's a security expert, why he believes this is a very dangerous situation to have any of that equipment here in the u.s. fine. why does the commerce department and the united states government continue to -- it's almost like they're dangling a carrot in front of huawei. i understand the first two extensions of the ban so that u.s. companies could figure out how they were then going to shift their businesses because they do a lot of business with huawei. that i get. but why now a third extension? >> i think it may be, it speaks to the influence and the per vase we'veness of huawei's -- pervasiveness of huawei's technology, especially in rural areas. say, for instance, that this ban sent into effect. going to be hard to fill that gap immediately based on what i've heard from people within companies like cisco say this is
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a very nuanced situation, and they are not ready to go in and take over. so in a certain sense, you have these rural customers who are tuck in the middle of this three-dimensional chess match of last minute extensions, the trade war with china, the influence of american companies that compete with huawei. they're going to be impacted in the end. liz: indeed. and i understand the whole idea that, you know, should taxpayers be paying for chinese telecom companies to set up 5g networks. but the rural areas, it appears, jamil, have very little other choice, and they've already invested in huawei equipment well before any of this happened because the biggies like verizon and at&t, they don't want -- we've done this story, they do not want to extend their reaches and spend the money because they feel there aren't enough payoffs because, you know, they're parsley populated. why should a farmer and his or her cell phone be banned from using chinese equipment? does it really pose a national
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security threat? >> well, part of the challenge, liz, is that, you know, when you put this equipment into the core of the infrastructure, they can get a lot of communications with just what's happening locally. that's one of the challenges. what's happening now is congress is debating legislation that will provide funding to these telecommunications companies to replace huawei and zte. that's an important part of this process. it's both the effort by the fcc to not give universal service unless you demonstrate they're out, but also replacing some of these things. you're right, benefiting off the back of chinese low and no-interest loans and the threat of intellectual pot by the chinese government -- property by the chinese government, we're going to have to pay some price for that. hopefully, as we spread it across the country, that price will be minimized. liz: john, give me a sense of who comes out a winner if and when huawei equipment is shut ott of the united states. who gets to pick up that slack? you know, we're always looking
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for investment here. >> right, right. liz: tell me one or two companies that benefit here. >> i think potentially cisco, juniper, maybe some of the telcos, the 5g market in terms of its phones, apple won't have any until september, that's when they're announcing at the very earliest. so maybe it opens doors, it might be open doors to some of those companies. liz: jamil, are you skeptical -- i'm a little skeptical, because i wonder are we leading along, you know, an extension, another extension because if we were to ban huawei straight out, there goes phase one, and the signature of xi jinping on the paper there of this trade deal between the u.s. and china, and that could be problematic for not just the stock market, but for many manufacturers who really are desperate to get that. chinese parts and equipment for anything, whether it's toys or apparel. >> well, look, liz, this trade deal's obviously critically important to the united states' national security and our economic security.
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that being said, we can't trade off access to the u.s. core telecommunications infrastructure for a trade deal, and so we need to make that effort -- just take that off the table. liz: we'll be watching it. lovely to have you, thank you so much. and, again, we're watching, folks. we've watched the rural areas. we know how hard it is to get connectivity, and it's going to be a very tough question here. and, again, fcc is supposed to vote on friday about huawei. box office heroics not enough to save the day for warper media's parent company -- warner media's parent company. with the dow still lang we'ring down about 85 points, no record there, up next the big wall street name playing villain to at&t shares at this hour despite a big win for dc comics' batman batty prequel. we're crunching the numbers for you next. and there are fewer than 24 hours to go til the latest episode drops of my everyone talks to liz podcast.
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but from anthony say knew chi to oprah of china, you don't have to integrate all my other inspirational interviews with top business power players. everyone talks to liz available on fox news podcast.com as well as apple and google platforms. "the claman countdown" is coming right back. stay with us. ♪
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be a part of humana's large network. if you want the facts, call right now for the free decision guide from humana. there is no obligation, so call the number on your screen right now to see if your doctor is in our network; to find out if you can save on your prescriptions and to get our free decision guide. licensed humana sales agents are standing by, so call now. ♪ ♪ liz: dc comics' the joker now officially the most killer r-rated movie ever. the dark turn on the batman villain 's origin story crossing the $1 billion mark worldwide at the box office leaving deadpool 2's previous $875 million r-rated record in the dust. oh, did i love leslie ugams in that deadpool 2. the joker sitting on the list of
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highest grousing movies of all -- grossing movies of all time, but not enough to save parent at&t this afternoon. we do have it down nearly 4%. cutting the cord. after top analyst craig many of it, who's a guest on the show quite often, slapped it with a sell rating, at&t's valuation and less compelling dividend yield. that's what craig many of it9 says -- many of -- moffett says. i have not seen the joker yet, have you? connell: no, i haven't. coming up -- that was me, i'm going the take the words out of your mouth. what's coming up at the top of the hour, says, liz? [laughter] a bunch of stuff, obviously, going on today. a lot of it in washington. there's a hearing involving jeffrey epstein that's getting
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overlooked in the senate. senator marsha blackburn will join us, it's an oversight hearing on the bureau of prisons. and we already know two prison guards related to the epstein case now facing charges for allegedly falsifying records, could be more to come on that front. top of the hour, "after the bell." liz: connell, thank you, said liz. [laughter] connell: that was pretty good. liz: i'll take it from here. we'll see you at the top of the hour. from one legal drama to yet another, could wework founder adam newman's fight be heading from the street to the courtroom? with the closing bell ringing in 17 minutes and the dow still struggling, down 87, and the s&p clinging to just a tiny bit of green there, that's an all-time record, charlie gasparino is running, cantering, galloping to our set with exclusive details on the new investigation into the disgraced real estate start-up leader and his allegations of bad financial
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♪ ♪ liz: new york attorney general letitia james has set to work -- i don't even know what that means -- why wework didn't. whatever that means, charlie -- [laughter] >> i didn't write it. [laughter] liz: i didn't check it. all right. what does that mean? what are you here for? >> essentially -- i don't know. that's a very sort of zen-like question, what am i here for. [laughter] i'm here for many things. why am i on this earth? liz: that was a little insulting. >> i think to provide the world
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with -- liz: breaking news. >> by the way, marco's back. liz: yea, marco! he's running that camera right there. >> you missed his trump impersonation. marco, loser -- [laughter] okay. here's what we know, there are two active investigations of wework right now in the aftermath of its botched ipo, adam newman, former ceo, leaving with a mass e pay package. -- massive pay package. the company is downplaying it. newman has not been subpoenaed yet by the new york attorney general's office or the sec. bankers who work with wework say the company is the most exposed on the potential inflation, inflating of the value of its leases. as you know, this is an office leasing company, it subleases office space to entrepreneurs, freelancers. the value of those leases is what was in the prospectus, the
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deal documents. clearly, a key aspect of this investigation is going to be involving whether wework, you know, correctly stated the value of those as it was trying to do the ipo. printing something false in an ipo document is, you know, violates securities laws. not saying they did it, just saying from what i understand bankers say that's where they're most vulnerable. they're also vulnerable, obviously, on newman on self-dealing. did he -- he apparently leased office space that he owned, i mean, you know, he sold for a time. i think the brand we, right? liz: well, he had the -- >> trademark -- liz: -- trademark for it. >> but he paid them back for that apparently. liz: under duress. >> anyway, that's where we are right now. i will say this, tish james is running the new york state attorney general's office. she's got her plate full with google -- liz: juul, she's filed that lawsuit. >> she's investigating everything, right?
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if she really wants to go after newman and wework, she could crucify them more than the sec, and the reason why, people forget this. new york state has a law, blue sky law called the martin act, essentially an anti-fraud law passed many years ago by some dude named martin. gives the new york state attorney general vast powers to crack down on fraud. essential hi, the bar -- essentially, the bar to show intent on cases brought under the martin act is much lower than under the federal securities guidelines. thus, tish james could really go after them and, essentially, indict on conflicts of interest without the sort of high level intent under the federal securities act. it would, it's what gave eliot spitzer in his day so much power over wall street, why everybody was looking to settle with him, because he was going to take, he was going to go after the wall street firms and conflicts of interest under the martin act, and he could win in court under
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that. particularly in new york state court. if she wants to really focus on adam newman and wework given everything we know, and including -- there's a statement from wework, you know, says what you would expect it to say, we received an inquiry from the office of the new york a.g., and we are cooperating. of course they're cooperating. if she wants to go after them, she's got the tools to really turn the screws. i'm not saying she will, she's very, spread very thin. but under that martin act, i mean, think about it, he left with a billion dollar golden parachute after the thing went from a $47 billion valuation -- liz: can i use your quote? consulting. he gets paid to be a consultant. >> he passed up the jpmorgan bank financing deal for this deal with softbank which threw him more money and actually paid him. if he wants to go there, this thing could get very ugly for wework. i'm not saying she will though -- liz: the best thing that ever
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happened to jamie dimon and jpmorgan is that he passed on them and took softbank. >> i think the best thing was, actually, they put all the information in that prospectus, which made people question the company. liz: charlie, thank you very much. now the dow is down 105 points. the nasdaq damage is the only big index on track for a brand new record. ♪ ♪ ♪ my body is truly powerful. i have the power to lower my blood sugar and a1c. because i can still make my own insulin. and trulicity activates my body to release it . . with type 1 diabetes
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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. ♪. liz: if nasdaq closes anywhere this green, that is what it looks like, this will be a third record high in a row for the tech-heavy index. we're up 22 point there. s&p and dow are still in the red. part of the reason the dow is really struggling at the moment is boeing. boeing down 1%. off the lows of the session. but here's the problem, ntsb, people in the united states in charge of investigating accidents are now saying that the 737 max which has suffered
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two fatal crashes must have a revamp of its design. so obviously this is not good news for boeing which says we're very close, we're very close putting them back in the air. public markets door dash is considering an alternative to an ipo. gerri willis this is back on you. we're coming back to you with big news. >> this is trader talk. this is the buzz on the floor of the exchange, that the food delivery company door dash would become public with a direct listing rather than an initial public offering, an ipo. as you know the ipo market has been suffering this year. we've seen a lot of, well, stocks trading lower. direct listing with slack that came public at $26 a share, now at 21. spotify, 165, now 137. you should know slack by the way down 9% just today. so a direct listing.
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you don't use investment bankers. they're expensive but they typically guide a new company through the process. they find buyers and sellers, they put them together. a direct listing means people down here on the floor of the exchange, for example, would bring the company right market. door dash said by traders on the floor here, becoming public in a direct. back to you, liz. liz: shutting out big banks, that will be interesting. thank you very much. drug prices "medicare for all," health care it is all a major flashpoint in the 2020 democratic presidential race, set to be a big topic at tomorrow night's democratic debate. a new poll finds 36% of likely caucus-goers in iowa, the first contest in the nation, support "medicare for all." but of course, people are very concerned about their health care. our next guest says the health care space, no matter what happens is looking to be a
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profits leader. "medicare for all" discount could be a buying opportunity. erin gibbs, president of gibbs wealth management. i could see how the names could be in the spotlight. how can you tell they will be winners here, when we don't know what is going to happen? >> right. so one of the things i'm looking at on health care. i'm not advising just buy the sector outright. i'm not saying just buy a health care etf what i'm really looking at, are health care stocks, very technology focused. that either have some sort of cutting-edge technology, devices, services, software that makes them either more efficient, more effective and isn't particularly also, that space just isn't sort of pinpoint for a politicians like to hit them so hard. liz: let me pull out cerner corp, cooper. a lot of us know medtronic a device-maker. what about cerner and cooper. >> these are names not everybody
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knows about, right. cerner is making health care providers more efficient, adding new technology, helping with diagnostics. so "medicare for all," anything that is making a company more profitable or you know, more cost effective, more accurate, that is a type of company that will probably win no matter what health care environment we're helping. whether it stays status quo or changes. cooper is very interesting. it makes contact lenses and helps with fertility, two completely different, totally unrelated business models. but both of these tend to be outside of what we, you know, is often what is covered by insurance would be covered by medicare. they're very cutting-edge. they're really helping become more efficient, more effective. so i think these two are good value buys. they got hit a little with top headlines. they have been covering, solid fundamentals. liz: yes or no can they hold up with "medicare for all," this is
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possibilitys does not come to pass? [closing bell rings] >> definitely. we're expecting them to do well in 2020. liz: erin gibbs, a good friend of the "claman countdown." thank you very much. we're calling it a record for the nasdaq. s&p might be too close to call on this one. connell, melissa. it is yours. melissa: stocks mixed at the close as investors digest weak earnings, new doubts about a u.s.-china trade deal. all three major averages did hit all-time highs earlier in the session. but they didn't end that way, the dow ending down, looks like triple digits. 102 points. i'm melissa francis. neil: connell mcshane, welcome to "after the bell." individual companies to watch in the dow. s&p meantime down two. looks like it will not get a record. any gain for the s&p would have been a record, would have matched its longest stretch in almost two years. melissa: so close. neil: but the nasdaq. nasdaq, focus there, that is a record high up by 21 points. third straight
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