tv The Claman Countdown FOX Business January 14, 2020 3:00pm-4:01pm EST
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are use catalysts, stay involved, have confidence in your plan and have resolution, have a resolute attitude when you are going through it. charles: thanks for having this conversation. we will be having it more than this, for sure. all right, folks. liz claman. liz: boy, are you seeing this, hitting the tape right now, we have breaking news. it appears that fed ex is shooting higher on this news. amazon has just lifted its ban on fed ex ground for those third party prime shipments. fed ex ground is now meeting its on-time requirements. you may remember that mid-december right before the crucial holiday season, amazon said forget it, we are banning third party sellers on amazon sites from using fed ex ground because they claimed that fed ex was slipping on-time marks for the orders which are generally guaranteed to arrive in one or two days. right now, fed ex up 3%. could the market be back at record levels? they are recovering right now
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after kind of plummeting from session highs at around 1:50 p.m. eastern time on this report that tariffs on chinese goods would remain beyond the 2020 election. it took a few minutes before investors realized that was old news that fox business had reported weeks ago. but what does it show you, that investors are very jittery ahead of tomorrow's historic signing of the phase one trade deal. the dow did top 29,000 earlier. right now it's at 29,958 with a gain of about 52 points, could we close at or above 29,000 for the first time? we're watching it. s&p is still negative, down two. the nasdaq lower by 10. we do have new details of the deal emerging from the great wall of silence, as reports of billions of dollars of purchases of u.s. cars, auto parts, aircraft, agriculture and services by china are starting to trickle through the media. we go straight to the white house for the very latest on
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what's really in that 86-page u.s./china phase one deal. and it's apple versus the u.s. government again, question mark. in the latest privacy battle over cracking open the iphone that attorney general william barr says was used by a terrorist, a saudi terrorist, in the pensacola shooting last month. the silicon valley leadership group ceo is here. there was a dinner where secretary of defense mike pompeo was last night. carl was there. he's with us now. plus, mgm is making a huge bet on its sportsbook. how bet mgm plans to award players in its casinos around the world to get you to bet more and maybe win some interesting gifts. less than an hour to the closing bell. let's start "the claman countdown."
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liz: and we've got this breaking news out of washington, d.c. senate majority leader mitch mcconnell has just said the senate impeachment trial will likely start next tuesday. he was saying this just a few minutes ago, as you see on the screen, that's the weekly press conference on capitol hill. moments ago mcconnell said it is likely the house will send impeachment articles to the senate tomorrow, and the swearing-in of senate members of the trial could actually happen later this week. he also said that the senate will process the usmca, the u.s. mexico canada trade deal, this week. a lot of news, folks. we have a mixed bag for bank earnings that are playing into the picture today. in this final hour of trade, jpmorgan jumping. what a day that company has had, up 1.5%. it posted its best annual profit, best records ever, when it comes to that. citi also beat estimates. that's why that stock is up 2%. but wells fargo whiffed on both the top and bottom line.
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wells fargo is down 4.5%. let me show you boeing. boeing reporting its worst annual net orders in decades along with its lowest numbers for plane deliveries in 11 years. of course, the grounding of its 737 max jet hurt the business, but we should also tell you that boeing, for the first time in decades, is reporting a net negative when it comes to orders of all of its jets. delta airlines is the only carrier that does not operate the max, something that has been a head wind for its rivals. that along with lower fuel prices and holiday travel demand ramping up helped lift delta to its tenth consecutive year of profit. look at that stock, up 4% now to $61.83. other airlines getting a nice boost from delta's news. ual up 1.5%. southwest better by 1.25%. american airlines picking up the rear, up .66%. game over, at least for now, for gamestop after the video game retailer forecast same
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store sales will decline more than what it had estimated. gamestop getting hammered now. this is now a $4.81 stock, losing 11.5% right now intraday. from a gaming retailer to video game publishing, take two interactive giant, it is lower by 1.5% after brokerage stevens cut its rating to equal weight and chopped the price target on take two by $35 to $110. we are at $126.55 right now. what have we been telling you? tomorrow is the signing of the phase one trade deal between the u.s. and china, but what's in it has been a mystery. that is now slightly beginning to open its book to at least page 1 or 2. the latest reuters report saying that china is pledging to buy nearly $80 billion worth of manufactured goods from the united states, and also, $50
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billion worth of energy supplies and that would include cars, car parts, aircraft, medical devices, semiconductors, lng, liquid natural gas and more. that on top of the agricultural purchases already reported. but there may be additional agricultural purchases that have been promised by china that are in the aggregate, bigger than everything that they purchased in the past. so some of these numbers are still a huge question mark. leaders from china, though, are spending phase one signing eve by meeting with various u.s. businesses, conveying they are now open for business with the u.s. to edward lawrence at the white house. edward, these details are dripping out. does this look like a win for the u.s.? reporter: that's a big question and we still again don't know what is exactly in this agreement. you know, it does look good for the u.s., moving in this one direction. it was standing room only in the hotel for the chinese. they were meeting with american businesses, they were in line
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literally throughout this entire hotel trying to get in and see the chinese delegation. i spoke with the u.s. chamber's senior vice president for asia, charles freeman, right after his meeting with the chinese. this is what he said that china is saying to american businesses. listen. >> give us time to implement this thing. just make sure you understand how committed we are to getting this done, how committed we are to, you know, making sure that the u.s./china economic relationship again is kind of the ballast that keeps the political and other parts of the relationship from going totally off track. reporter: freeman says that the parts he's read with the intellectual property protections and the structural changes will really bring china back to be a trading partner although there are some issues with this going forward. he wants to see exactly how this is going to be implemented and that will be key for the administration to see how it will be handled in china going forward. liz? liz: okay.
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the big moment is less than -- well, i guess you could say about 17 hours from now, where edward, we find out what is really in this 86-page phase one deal. i will be standing right next to you, edward, at this time tomorrow. "the claman countdown" will be broadcasting live from the white house lawn immediately after the phase one trade deal with china is signed. top shelf guests from inside the white house, do not miss it. 3:00 p.m. eastern. you don't need to be anywhere else but fox business to see what the markets do. we could see a huge runup. we could see a sell on the news. sometimes that happens. you've got to be with us. for the moment, the markets are looking at record highs. depends, though, right? the s&p, look at this, has gained 385% since the market bottomed way back in march of 2009. based on the current constituents. let's look at the three top performers that brought us here where we are today.
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in that time span, ulta beauty up 6,421%. netflix, had you bought it in 2009, has climbed 6,041%. look at market access. that one up 5,539%. the s&p 500's gains have led to cries, because you know there are people out there who are always wondering when's the next disaster behind us in front of us? let the cries of the market bubble for some participants but this is crucial, jpmorgan saying today that the index is not in a bubble. no bubble. it would have to reach 3700, jpmorgan says, before the bubble would start to get thin around the edges and maybe pop. to the floor show traders. all right. gang, do you see anything getting a little too frothy? how about that, larry? >> you know, i do. i see it in the leveraged loan space. something most people don't even think about. there has been a sharp
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deterioration in protection that's brought in a lot of money, when small and midcap companies don't have to worry about collateral payment, et cetera. we have to remember that when recession hits, bond prices are way more affected by a company's ability to meet financing needs than they are to make interest payments. so with all that to say if there is a spike in interest rates, it will have like an effect on leveraged loans like it hasn't before, especially given the drop in covenant protection to the investor. liz: yeah, you know what, i see that, but phil flynn, what do you see, if anything? when i say froth, i'm not necessarily saying too much of a bubble, but maybe an area where people are getting a little too confident or complacent. >> you know, last year, the thing that was really red-hot, everybody wanted to get in on pot spot stocks. it went up in smoke already. if you remember a few years ago it was the bitcoin craze. prices went up like crazy. they went up to $20,000 an ounce
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until the cme started trading futures on them, then they crashed, right. they went down to almost $6,000. they are back right now. cme started trading options on bitcoin futures and they are back in a big way. they are moving back up in the cryptocurrency space. really, i think larry has a really good idea. the place you want to look at is depth. there's a lot of companies that have a lot of depth. that could blow up. if you are in that space, car loans are an issue, that could be it, but right now because the economy is doing so good, we will probably see the bubbles push way off. liz: what do you think, matt? you see any bubbles? i hesitate to say anything that's bulletproof that might start to look like something could pierce the armor here. >> i don't know why stocks are in a bubble. you can make the case that five companies are making up 20% of the s&p right now. so if those companies were to falter, there are plenty of opportunities in other sectors to put your money to work. people look at consumer --
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customer debt, central bank debt, there's all kinds of things out there that people are worried about but they haven't really raised their head just yet. so the bubbles are on the horizon. we don't know where they are but if you are an equity trader, you keep buying the equities because there seems to be that's where the money is in play. liz: i'm amazed that nobody said tesla. up another 3% at $540 a share. what, phil? >> i was in it. i got out when smoked pot on tv. i should have stayed with it. liz: could have, would have. good to see all three of you. thank you very much. sell the pot stocks but when elon smoked pot, you would have kept on with the tesla. all right. one 2019 unicorn that pranced into the public arena is fully dressed with a smile. with about 48 minutes to go before the closing bell and the dow, can't really reclaim the gains it saw earlier, still up 14 points, though, smile direct
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club is surging on new plans to go wholesale by selling its teeth aligners to dentists and orthodontists. that stock up 16%. but shares of align technology, parent of competitor incisalign getting chipped on the competition. it's down 3%. speaking of competition, who will find themselves smiling at the end of tonight's democratic debate? ahead of the big moment, we will head live to the battleground state of iowa for the onstage and offstage fireworks. "the claman countdown" is coming right back. switching to geico really save you fifteen percent or more on car insurance? do woodchucks chuck wood? hey you dang woodchucks, quit chucking my wood!
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woven and molded into all the things we consume. we created bionic and put the word out with godaddy. what will you change? make the world you want. liz: let's get you on a flight to iowa, site of the first contest of the 2020 presidential election cycle. that makes tonight's democratic debate which is, by the way, the last one before next month's iowa caucuses, that much more important to watch. it will be the smallest debate stage so far. on your screen, the six candidates who ended up qualifying. biden, buttigieg, klobuchar, sanders, steyer and warren. if we are talking business and the economy, let's look at this. iowa's unemployment rate stands at 2.6%. that is lower than the national average. it's also down from 3.5% three years ago.
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iowa also an important petrie dish of sorts for researchers studying the impact of president trump's trade wars. iowa farmers have received about 1.7 billion in government bailouts meant to soften the impact of tariffs that have been slapped on china and other countries over the past couple of years. hillary vaughn on the ground in des moines, iowa. hillary, we have known that farmers' clarion call has been we want trade, not aid, or bailouts. are you seeing any of that translate to the broader hawkeye state voter? reporter: liz, we are. that's what's interesting. of course farmers have been heavily impacted by this trade fight with china, but really, that has trickled down to voters here and has really become an issue that they are considering when choosing a candidate for president in 2020. i want to introduce you to trisha tanney. she owns an eco products supply company. you have had to raise your prices multiple times because of tariffs? >> correct. yes, some of our distributors,
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some of our suppliers, we actually purchase from, have caused us to actually have to raise our prices, anywhere from 5% to 10%. reporter: so that's something that you are thinking about when choosing a candidate in 2020? >> absolutely. absolutely. reporter: i want to bring in tom here, he's a small business owner and also a teacher. tom, you said that a candidate's stance on trade is something that you are considering when choosing a candidate. >> yes. if we could only go back to where we were before the tariffs, things would be much better. it's not only the increases, it's the uncertainty about what lies ahead that's so difficult to manage as a small business owner and when i talk to my friends, who are small business owners, and to farmers, that's the thing that's really hardest is what will happen next. reporter: so this is something that, you know, obviously it's impacting farmers but we have seen it has trickled down statewide here and has become a key voting issue. liz? liz: thank you so much.
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that is really interesting. what your interviews just showed to us there is very much a domino effect even if you are not in the agricultural sector. you get affected by all of it. thank you, hillary. betting on mgm. with the closing bell ringing in about 21 minutes, and the dow still up about 14 at 28,920, want to rock out to aerosmith during the band's mgm residency coming up? could it be as easy as slapping down a bet on tonight's knicks/bucks game, for example? that may be possible soon with bet mgm, the sportsbook's new app. scott butera is the mgm president of interactive gaming, first on fox business. he's about to explain how the new plan works and what you could win even if you lose your sportsbet. "the claman countdown" will be right back. and etfs are commission-free. and when you open a new brokerage account, your cash is automatically invested at a great rate. that's why fidelity leads the industry in value
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liz: hope you like cirque du soleil with your parlay. mgm is about to make that happen with bet mgm. the perks for playing, the chance to earn rewards across mgm's expansive footprint from hotel stays to drinks to concerts to concierge services. the benefits go far beyond the playing field. first on fox business, we have the man at the helm, scott butera, president of interactive gaming for mgm resorts. wow. you know, i got to ask you, sports wagering is one thing. now what you have decided to do is weave in all this other stuff. tell us about it. >> thank you, liz. we absolutely love sports fans. there are 160 million of them in the united states. what we found at mgm resorts, we really provide the type of entertainment experiences that people that like sports, like. so if people are betting on sports, enjoying sports, they also, we find, like to stay in resorts, eat in fine dining restaurants, attend world class shows. what we want to do is take that sports better and incorporate
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him into the ecosystem mgm has to offer. liz: it almost seems like a perks deal you would see in old hotel room and hotel companies that offered it, but this is good stuff. >> it is. i would describe it more of a loyalty program. what we really want to do is differentiate ourselves from our competitors. if you are a sports betting operator and are offering sports betting experiences, that's one thing. what we find is customers want a lot more than that. we can offer them these rewards which are truly outstanding and the same rewards we would offer any of our customers, whether they be table game players or slots players, or you know, other people that come and do business with us. it really is getting equal status in an area where they are not used to getting that. liz: specifically in sports wagering, you guys at mgm have been in that space for 25 years. but now since, of course, in 2018, the federal ban on sports wagering was repealed, making sports betting legal, you have these deals, you have these
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partnerships with major league baseball, the national hockey league, the list goes on. we just put it up there. i think it's really interesting to see that now you are weaving in all these other opportunities. states with legalized sports betting, oregon, nevada, montana, colorado, new mexico, new jersey. when will we see that whole map? >> i think the whole map will happen sometime between 2023 and 2024. liz: that's a big statement. you think all of the united states by 2024 will allow sports betting? >> over 40 states. a handful of states will never get its arms around any form of gaming but by and large, 40 plus states will have some form of legalized sports betting. really, it's not only getting sports betting approved but approved in the right format. they vary state to state. it's almost like a different business in every state. but i think that over that period of time, you will see that. you mentioned our league relationships. that's another way to reward customers and give them these outstanding experiences at events and we really believe in making sports events a festival,
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where it's more than just a sport, it's again, fine dining, great experiences. liz: you have everything coming up at your properties from cher to lady gaga to tiffany haddish, aerosmith, a lot of different shows, not just cirque du soleil but so many opportunities. mandalay bay is directly adjacent to the new allegiant stadium where the soon to be las vegas raiders will be coming. i see you have at least a partnership with the raiders at the moment. could we eventually see something along the lines with that team, not to mention maybe a deal with the national football league? they are not on board yet with sports wagering. >> i really believe the national football league is getting its arms around it and will be a participant in this business in one way, shape or form, in a very short period of time. liz: we just took a tour of
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alleg allegiant stadium. >> it's a game changer. they sold double the psls sneth expected to sell and that's because you have this great experience, this festival like atmosphere. it's not like you just drive to a stadium to watch a game. you are coming to vegas for a weekend. as many raiders fans as there are within the vegas community, an equal amount will visit vegas just to come have that experience. liz: you look at your stock, it is a very nice 52-week performance. you partnered with buffalo wild wing wings. i look at everything that's happened in sports wagering and at some point, you have to evolve. clearly, federal guidelines evolved because people want this. mgm surely is understanding of the fact, though, that legalizing gambling comes with some potential problems. there are legions of people who have lost their homes, their jobs, over gambling addiction. is there anything that mgm work on to partner in that regard?
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>> quite a bit. we really want to have a healthy gaming environment across all our businesses. i know we have had problems with this in europe and other areas and again, here in the u.s., we are trying to create an entertainment experience, not necessarily a financial proposition, right. so we spend a lot of time with the american gaming association on funding programs for responsible gaming. we have a program called game sense, where you can actually go on and it's really kind of a cool thing that introduces people as to how to game responsibly and does a lot of myth busting, like if i lose five bets in a row, the odds of getting the sixth one right is pretty good, right? well, no. simple stuff like that. but it's engaging and it does teach people how to, you know, treat this responsibly. liz: but we want revenues, don't we? >> well, we want sustainable revenues which come from sustainable experiences. if i go into gaming establishment and lose a bunch of money and don't have a good time at it, that's not going to be something that we want. liz: scott butera, bet mgm rewards program kicks off now, right? >> absolutely. already up and running.
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liz: good to see you. thank you so much. the dow has just turned negative again, down three points. we have amazon back at the oval office and firing all kinds of verbiage at it. with about 30 minutes to the close, the e-commerce giant filing a motion to stop rival microsoft from working on the pentagon's $10 billion jed icloud contract. amazon alleges president trump is biased against amazon founder and "the washington post" owner jeff bezos made him want to stay away from that company. well, microsoft earlier was hitting a new intraday record. it's down about .75% now with the rest of the market. amazon down 1.33%. from one tech fight to another, that deadly shooting at pensacola's naval air base putting apple's iphone squarely in the center of the battle over national security versus
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personal privacy. the man who speaks for silicon valley just attended a dinner last night where secretary of state mike pompeo spoke. he's with us next on this issue. "the claman countdown" is coming right back. our retirement plan with voya gives us confidence. we can spend a bit now, knowing we're prepared for the future. surprise! we renovated the guest room, so you can live with us. i'm good at my condo well planned, well invested, well protected. voya. be confident to and through retirement. the better question would be where do i not listen to it. while i'm eating my breakfast... on the edges of cliffs... on a ski lift... everywhere. for a limited time, go to audible.com to save $50 on your first year of membership.
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liz: silicon valley's biggest tech giant reigniting a battle with the trump administration over privacy, personal privacy. apple disputing attorney general william barr's claim that it has not provided quote, substantive assistance by unlocking the iphones of the suspected shooter at the pensacola, florida naval air base last month and that murderer killed three people in an act of terrorism. as the privacy debate rages on, take a look at shares of apple right now. on the news it's down about 1.25% but it has been a real winner over the past 52 weeks. our next guest just attended a closed door dinner last night
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with secretary of state mike pompeo along with other tech leaders discussing such topics. president and ceo of the silicon valley leadership group, carl gordino in the room last night, now with us in a fox business exclusive. i know that you can't get into specific details of this, but can you give us some general broad insight of how this particular issue was tackled? >> first of all, the irony of decryptionback doors is it can make us less safe while wanting to use it to help us through law enforcement, it can harm us by exposing our data to criminals and hackers, and the amount of personal information, financial and health information that are on our devices today, would all be left open to criminals and hackers around the globe. so this is a tough issue that we have to work together with law enforcement to solve while we're trying to solve one challenge,
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we are opening up the door literally to greater challenges to our personal information. liz: well, apple is saying right now it's unfair to categorize them as not helping out at all. they literally just got the request from the fbi to crack open the phone. now, what we have seen, though, is history when it comes to this, and it's relatively recent history. this is not the first time apple has faced off against an administration. during the obama era, we had the deadly san bernardino shooting which was just absolutely horrific, and that involved an iphone of the dead terrorists that apple dug its heels in and did not want to crack it open, because it has a policy that represents its millions of iphone users. but you have people watching on both sides of the aisle who say wait a minute, but if we can find out more and stop future attacks, why not open these
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phones? >> and that's why it's so difficult. i don't know about you but i have been hacked numerous times, placing all of my financial, health, personal information in jeopardy to people around the globe. that's the balance that apple and others are still trying to strike. if you're opening it up to law enforcement, obviously for our help, we are also opening it up for our great harm for individuals and as a society. we have to find that balance. we haven't struck it yet. liz: apple two years ago, last year, i guess you would say, had put up a billboard at ces, the consumer electronics show, playing on the what happens in vegas, stays in vegas. it said what happens on your iphone stays on your iphone. would you guess that they are going to hold true to that? >> i don't want to speak for apple, but i know that they have been consistent, as we have been
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consistent, about making sure that everyone realizes that when you make a decision, there are numerous ramifications for that decision, and in this case, it's exposing billions of people's data, private, financial, health, to risk from those who would cause us harm as individuals or institutions around the world. liz: well, it is a developing concept and problem, and issue. we will be watching it. thank you so much. >> it's my pleasure. if you want to talk about the dinner last night, it was a fascinating dinner with secretary pompeo and his wife, susan. about 20 of us as ceos in silicon valley, where we focused primarily on china, the benefits of doing business in china but also the challenges that are at stake when we are talking about intellectual property, a level playing field and all the other opportunities and challenges that come from having
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facilities, employees and markets in china. liz: well, tomorrow we are going to be live on the white house lawn right after the signing of the phase one trade deal, so i hope you will be watching, because we are going to hopefully articulate exactly what's in it and what phase two might now look like. thanks, carl. >> thank you. you're the gold standard in business coverage, liz. thank you. liz: thank you. thank you so much. with the closing bell ringing in 19 minutes, snoop dogg has his mind on his money and his money on his mind as he lends his famous image to beyond meat. yeah, but it's not just the d-o-g-g that has investors scooping up the stock like rabid snoop doggs. and snoop isn't the only one who had to fight in the early years for success. that is the exact focus of my everyone talks to liz podcast. we now have more than 30 episodes of the most
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liz: beyond meat blazing through the market. the plant-based protein maker going beyond the limits, literally. shares getting halted this morning on so much volatility after a rocket start to 2020 that has seen shares heat up more than 58% since just the first of the year. another 3% today higher to $117.67. this as hip-hop super star snoop dogg looks to get in on the
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vegan high. the drop it like it's hot rapper creating a new beyond based sandwich for dunkin that features a beyond sausage patty, egg and cheese with glazed doughnut bun. look at him, he's serving. look at snoop behind the counter. i'll have four munchkins. they always yell at me. no, you buy them in bits of six. no, i only want four. beyond shares currently, as i said, jumping $3.73 right now, going for their fourth straight day of gains. dunkin just turned positive by a scoche. impossible foods unleashing its pigless pork rival at ces last week. i not only got to taste that slider courtesy of pat brown, the founder and ceo, but i also got to try the spring rolls made by wynn hotel chefs using impossible's pork alternative and i'm telling you, it was like butter. it was really good.
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definitely good. melissa francis, have you tried this? you have a favorite meat alternative? melissa: no. i'm not trying any of them. i haven't. i'm not going to. as for snoop dogg, that partnership is a little like his partnership with martha stewart. it just puzzles me. i'm not really sure of the connection but i like doughnuts and no, i'm not trying any of those patties made with plants. liz: i'm telling you, you would be surprised pleasantly. melissa: no, i won't because i'm not trying it. liz, you are so much more adventurous than i am. i'm not interested in that. i want a cheeseburger. i like in n out, i like mcdonald's. i'm a cheap date. i need the real beef. liz: i like their burger, too. i'm a cheap date -- let's go out together. melissa: we'll do it. coming up on "after the bell" we will be watching for president trump to make new remarks as he leaves the white house. the president will hold a campaign rally tonight in milwaukee, wisconsin. it's a crucial swing state for him, as the democrats prepare to take the stage in iowa for the
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first debate of this year but of course, the 10,000th of this cycle. plus we take a deeper look into tomorrow's two big headlines. that split screen we will be watching all day. president trump expected to sign phase one of the trade deal in china, as the house will vote to send the articles of impeachment over to the senate. you decide which is the people's business. in the meantime, we have a big hour on "after the bell" coming up. liz: can't wait. split screen. we're right there. melis melissa, thank you so much. we will be right back with the tesla bull who is trending his horns. for colon cancer. i'm not worried. it doesn't run in my family. i can do it next year. no rush. cologuard is the noninvasive option that finds 92% of colon cancers. you just get the kit in the mail, go to the bathroom, collect your sample, then ship it to the lab. there's no excuse for waiting. get screened.
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and when you open a new brokerage account, your cash is automatically invested at a great rate. that's why fidelity leads the industry in value while our competition continues to talk. ♪ talk, talk liz: closing bell ringing in about seven and a half minutes. dow, s&p and nasdaq, it's a mixed picture. the dow is the only one moving higher, not at 29,000. we're not going to see that today. but we did see intraday highs so
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right now, it looks like no record closes for the major averages, but any gain for the s&p and the nasdaq would be a record. could this be t-mobile and sprint's last stand, less than 24 hours away? the telecom giants and state attorneys general battling it out over the $26 billion mega-merger are set to present closing arguments tomorrow. charlie will be at the courthouse tomorrow but has news ahead of that. charlie: let's put up a chart of sprint because this is telling about what wall street thinks -- liz: intraday? charlie: intraday. we should point it out, wall street believes this deal is not going to happen. it is betting that the state ags led by tish james in new york and xavier bejara of california will win. they are just trading ahead of tomorrow's closing arguments and making the point that they believe they will win. i don't know why they think that, other than the fact that there's a democrat federal judge involved in this case who can
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overturn it. obviously it's been approved by the doj and by the trump doj and federal communications commission, and that there's a democrat who might do a 180 on this thing. i will tell you that people that were in the courtroom and remember, it's a judge trial, not a jury trial, do not believe that the states reached their -- reached their threshold that this deal in and of itself will raise prices significantly. remember, that's what they're saying. you get rid of sprint, merge is with t-mobile, you are getting rid of a carrier, thus three, you go from four to three carriers, telecom prices, all the prices for this go up significantly. i'm telling you, people in that courtroom who are pretty unbiased didn't think they met the threshold, that they really proved their argument, that dish is obviously creating a second network and that that is -- that that was a good argument for the government's case and for the companies. anyway, i will tell you, wall street is betting against this. if the states happen to lose and the companies win, well, you
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should see shares of dish go up significantly. now, here's the interesting thing. how significantly will they go up. this is all about -- i get tons of e-mails about how you should play this stock. it's a very difficult thing to do because it's very likely that if the states lose, the companies win, merger goes forward, they are going to have to reprice the deal. not just -- not, you know, not because it's going to go much higher, because there's going to be a floor on how high it goes. why is that? dish's financials are in deep trouble, okay? so remember, there's going to be a lot of movement in this stock, there's going to be a repricing of it. dish shareholders will likely get less because as they reprice it, because it's a company that has some very big issues that came out post-merger, so that's going to be repriced but again, let's get back to the main thing for tomorrow and i will be there, you will be in washington and i will be there, interesting, i will be there covering the case and trying to get maybe john legere, the ceo
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of t-mobile, if he's around, try to stick the microphone in his face. tomorrow is the closing arguments, then the judge goes and i guess in a couple weeks, he's going to render a verdict, whether it should stay or go. again, wall street is betting heavily, including today, even more, saying states are going to win. liz: we will be watching it. this has been a long one. charlie: yeah. by the way, if the states win, again, i want to say this, this is precedent setting. liz: indeed. charlie: a minority of state ags will upend a major merger and acquisition. that will have an impact on the merger and acquisition trump administration 5g will expand dramatically with two stronger carriers. if they lose, the states win, it will upend the m&a business. there is a lot riding on it story. liz: you will be down there shoving microphones. >> tried to do that. liz: i'm sure you will be very
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gentle. >> i'm always gentle. liz: you will not be. >> very well. tesla. liz: tesla has wall street scrambling to ratchet up estimates. stock pushes to new all-time highs. near 550 a share. one perennial tesla bull slowing down his stampede a bit. this is not a stock he says to be greedy over. gerber kawasaki ceo, rob gerber, mr. tesla fan says what? >> i have making money too easy. you have to take a little off. my tesla fans were not happy to hear that i'm good, but it is also luck too that sentiment shifted 100% with tesla. so yet, $100 billion. i think tesla is properly valued in here. it is never a bad idea to take, maybe, 10% of your position and put it into something that's cheap, you know?
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liz: you know bernstein tech analyst tony, he knows a lot about this company, he says the stock may have run up a bit too much. he has a price target 325, i believe. we're at $500 and 38 cents. $538.15 as we head into the closing bell. let me just say, would you buy it if it fell to a certain level? what would be the level again? >> i would definitely add to my tesla if it came back down, started the year, like 420, you know. you know, we've been doing this show, talking about tesla a lot, you and i, liz. liz: oh, yeah. >> through lots of ups and downs. tesla is just getting going. as a long term investment i think it is a freight investment. my long term clients own tesla. we're not changing that position. if i don't own tesla, i want to get into it, this is a very high price to start buying. you want to be a little patient.
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the chart is parabolic. usually the charts pull back. if i get back in at closer to 400 that is much better price. liz: you're paring back some of your hold national apple which had a incredible one year runup of 111%. what are you bullish on if not apple and tesla at this moment? >> don't get me wrong. i'm really bullish on apple and tesla. we own a ton of it. we just made a ton of money. so it is my responsibility to take a certain amount of profits. liz: profit taking. >> my opinion has not changed on those companies, i want to be perfectly clear. i'm just a fraud dent investor. that is why people pay me. that being said there is value in the market. you have to look a little bit further down the path. one of the places i still think there is awesome, awesome opportunity is in disney which is, they just announced that they, not disney, it was just announced that they might have
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over 40 million subscribers for disney plus. [closing bell rings] i think they're killing it. this is a place you can add. liz: rob gerber saying don't get greedy take profits in tesla and apple but he still loves the names. big tech pulls back leaving new records out of reach. melissa: whiplash on wall street. the dow fighting for gains at the close after all three major averages hit all-time highs earlier today as the u.s. and china prepare to sign the phase one trade deal tomorrow. the dow closing up about 28 points here. we're watching it settle out. after crossing the 29,000 milestone earlier in the session. once again failing to close above the thresh hoed. you're not connell mcshane. ashley: i'm not connell mcshane the i'm an i an imposter. this is closing bell. melissa: more on big market
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