wearable aspect is phenomenal. i like a stock symbol ayx is the stock symbol there. love the fundamentals. it is a software play. great having you in studio. we're off 150 points on the dow jones industrial average. ashley webster in for liz claman. it is going to be a jam-packed hour. >> it certainly is. what a hall of fame panel you have there. thank you very much. the centers for disease control confirming the first case of a lethal virus on american shores. this as boeing 737 max jet sit idle and the stock resumes trading. the dow up 153 point -- the dow off 153 points. markets hitting fresh lows, worries about a possible pandemic now spreading from china after authorities there confirmed human to human transmission. the respiratory virus has

already killed at least six people and infected nearly 300. one of america's top virus fighters will be here exclusively to tell us how afraid we should be. meanwhile, president trump impeachment trial in the senate just took a brief recess after it began debating majority leader mitch mcconnell's formal resolution. robert wolf will be here with his analysis on how it could sway the 2020 election. and president trump taking davos by storm in the alps, touting american prosperity and a blue-collar boom in a speech before the world economic forum. we will get a full recap of his visit to the swiss ski village. we are less than an hour to the closing bell. i'm ashley webster in today for liz claman. let's start "the claman countdown". >> boeing just resumed trading a

short while ago and shares are trading at their lowest in more than a year, accounting for most of the dow losses. dow close to 5%, down 15 bucks. -- it is close to 5%, down 15 bucks. boeing saying that the new timeline accounts for faa scrutiny before applying for -- before recertifying basically the aircraft's safety. so that stock taking a hit and briefly halted for volatility. the virus outbreak in china also sending chills across travel-related sectors, starting with airlines. united, delta, and spirit you can see all of those in the red. united off 5%. now, let's take a look at cruise operators. carnival, norwegian, royal caribbean, all of them in the red. royal caribbean down more than 4%. what about casino operators, some of which of course have a strong presence in macau, off the south coast of china, also

taking a hit. wynn resorts down 6%. take a look at travel sites, also lower, including adrs, the chinese on-line travel company which owns china's largest travel platform, plenty of red ink there as well. hotel operators also getting hit after the cdc confirming the first u.s. case of the coronavirus. marriott off 4%. hyatt and hilton holdings also down. industry leader lvmh, gucci owner and coach owner you can see there, they are down. there is green on the screen in one state. vaccine makers, flu shot makers are getting a market boost. as you can see, some of them up double digits. in addition to china and the u.s. there are also confirmed

cases of the coronavirus in japan, south korea, thailand. travelers heading to the united states on direct or connecting flights from wuhan china where this virus began will be screened at jfk and new york as well as lax and san francisco international airport out west. for more on all of this, we are now joined by a professor of the department of epidemiology at ucla, also director of their center for global and immigrant health. doctor, thank you very much for joining us. how concerned should we be by this coronavirus now that we have had a confirmed case in the united states? >> that's a really good question, ashley. i think there is great cause for concern about this virus. we have now a case in the united states. we know that it's passed from human to human and that cases can land anywhere in the world. ashley: well that's a big

question of course is how do you stop this? at what point does the world health organization start to put in travel restrictions? is there a number that they look at? i mean, once it is out, it is very difficult to contain. >> correct, outbreaks are like wildfires. you need to stop them when they are at the spark, not when they become an inferno. right now the world health organization is scheduling to meet to determine whether or not this is a public health emergency, and there are many many factors that go into this decision. we'll find out more in the coming days. you know, things could change very very rapidly. this morning we now know that there's a case here in the united states. so there's a great deal we still are learning, and there are many many factors that will go into this decision. ashley: what are the symptoms, doctor? you know, what is the fatality rate to put it that way because i understand from what i've seen from china it can be fatal. maybe you can explain some of that.

>> well, we don't really have answers at this point. we have many more questions than answers. right now we know six people have died. they are at least 300 people that we know of that are infected because we are just beginning to get data in here, we still don't know the scope of this disease. it could be much greater than we know. we're depending upon really good disease surveillance. ashley: is there a treatment for this? is there a cure so to speak? >> so this disease is a coronavirus. and we saw this with sars, 17 -- 17 years ago and right now there are no vaccines available for this family of coronaviruses. many are being tested but none are actually available to be used in a public health campaign. ashley: i'm sorry so interrupt, it spreads if i read it correctly from person-to-person? >> correct. we now know based on the information that was shared earlier today, that this virus can spread from person-to-person. in fact, one person infected 14

healthcare workers in china. ashley: you know, how reliable are the reported numbers out of china? i say that because sometimes when this happens in one particular country, it's very hard to get to the true scope of what they are facing. >> well, i think that china probably doesn't know at this point. we have to be able to understand that right now they are putting in public health measures. they are alerting hospitals. what we do know this is very different than 17 years ago during the sars outbreak when china did cover up the fact that there was an outbreak ongoing and allowed the virus to spread out of control before public health officials were invited in and control measures were put in place. we know that china is doing a really good job right now of sending messages to healthcare professionals, to hospitals. they want to know how many cases there are, and there are really good tools out there to determine how it is spreading. ashley: what advice would you give very quickly doctor to someone who maybe has a trip planned to that part of the world?

does wearing a mask do anything to prevent the spread? >> that's an actual question whether or not a mask can help prevent the spread. right now we don't know exactly how this disease is spread. it is very possible that it could be respiratory, in which case a mask could help, but you have to know how to put that mask on and to keep it on and not to touch your face, not to touch your eyes. so, you know, a mask could potentially help, as we learn more about this, but i think everybody has to weigh the risks right now of, you know, if they want to travel or if they don't. and unless they are going to a place where we know there have been cases at this point, i think that, you know, the advice is still go ahead, travel where you need to travel, but watch the news, listen to the public health messaging and take public health precautions. taking good infection control precautions, washing your hands,

not touching your face all the time, being mindful of people around you is very important in this case. ashley: great advice, doctor. thank you very much, doctor, for joining us. we really appreciate your expertise today. thank you. >> it is my pleasure. ashley: all right. could this be a part of a deadly combination for the markets? i want to bring in our floor show traders john corpina at the new york stock exchange, phil flynn at the cme. john, we're seeing the markets that boeing is playing a big part in this down step certainly on the dow, how much of a risk something like a coronavirus, how can that affect the markets? >> it is clearly something we're watching. we saw it in the futures coming in this morning, the pressure it was putting on the market. i think it is certainly something that this market is paying attention to. obviously in the infancy stages here, not really sure the hows and whys and what could happen next, but it is concerning. so that's putting the red on our market today, but not a tremendous amount of pressure. it doesn't scare me too much.

why do i say that? because the vix really isn't reacting appropriately to this major fear that's there; right? the market is down small incrementally. the vix is up incrementally. that correlation is where it should be. if there was more fear about this virus, we could see it on both sides, the market and the vix more. boeing is putting its weight on the dow and overall markets, a concerning headline, they are pushing that data out further. -- that date out further. it is the continual story where we get that same message where the timeline keeps stretching and stretching, just watch that $300 level there. that's the low levels from the 2018 lows. seems like we got somewhat close there today. technically it bounced off that, but the negative headlines are here today and they will continue. ashley: phil flynn, as we know, the markets have been on this tremendous remarkable melt up, it is times like this that people say all right i've done well, it is time to cash in and take some profits. are we going to see waves of this as we head into this new

year? >> i think it's a possibility. you know, i was saying for months, i said the biggest concern i had about this market was an unknown, you know, an event that would kind of change the narrative. this coronavirus does have the potential to really put a monkey wrench in this market. right now john is right, we're not seeing a lot of fear just yet, but i do remember quite clearly how the markets reacted back in 2003. i remember the price of oil, it took almost a year for it to get back. we saw the stock market sell off. the timing couldn't be worse because it's right ahead right now ahead of the lunar new year in china. ashley: right. >> if people get scared, like they did on some of these previous things, we may see some demand destruction that we may not get back. i don't want to be a worrywart, we're not there yet, but if we continue to get bad headlines, if it looks like it is spreading, that could develop.

ashley: we will have to leave it there. phil, john, thank you gentlemen for joining us this afternoon. the dow is trying to come back, down 133 points at its lowest point we were down just over 200. uber investors hitting the gas after the ride-hailing service sold off its india business to a local rival in exchange for a 10% stake. also testing a new feature in california that allows some drivers to set their own fare. the company's fight against the golden state's new gig worker laws. uber is up more than 6% right now. coming up next, president trump taking his america first message to the lion's den of davos. blake burman tracking all the action and reaction to the president's latest economic sales pitch. "the claman countdown" is coming right back.

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thank you very much. ashley: president trump touting the success of the american economy at the world economic forum in davos, switzerland, saying that the u.s. economy is in a better spot than he imagined it would be when he took office. the president also taking time to talk about the environment, announcing that the u.s. would join an initiative to plant 1 trillion trees worldwide, saying he wants the world's cleanest water and cleanest air. let's get to blake burman at the white house with more on fun in the alps. blake? >> thank you very much as the president says as we heard there ashley. that sound bite is interesting because this was part victory lap, i guess you could say for the president earlier today in davos switzerland but also parts sales pitch as he was there before world and business leaders trying to tout the economic accomplishments that he sees so far in the first three years of his administration. the president for example touting today the two big trade deals that were in the headlines last week along with record low unemployment in the u.s. and economic growth.

>> investment is pouring into our country. in the first half of 2019, the united states attracted nearly one quarter of all foreign direct investment in the world. every business looking for a place where they are free to invest, build, thrive, innovate and succeed, there is no better place on earth than the united states. >> now, while the president would like the attention to be on the u.s. economy, his trip comes as the senate right now is taking up the impeachment trial here in washington. when asked about impeachment earlier this morning, the president tried to use the backdrop in davos to pivot to the economy. >> -- [inaudible] -- is a hoax. nothing happened. the only thing we have done is a great job. we have the strongest country in the world by far. >> ashley, there were a handful of meetings and events for the president today at the world economic forum. one of those meetings, and this is a live look of course here in washington, adam schiff on the floor of the senate, but one of

those meetings for the president was with his counterpart of the european commission. of course, the president as we know is trying to strike a trade deal at some point down the line with europe. the president says -- with the european union. the president saying today that if he is unable to do so, that he would give auto tariffs strong consideration, but for all this talk about the economy, this is what we see on the screen as well, impeachment, it is the duelling headlines that the president and the white house are dealing with. ashley? ashley: duelling screens. thank you very much, blake. intel the clear winner this hour, multiple price target hikes and jeffreys is abandoning the bearish stance with an upgrade from sell to hold all helping to boost the chipmaker right now as you can see nicely higher at $60.80. intel set to unveil by the way later round of earnings later this week, but today it is

netflix in the earnings spotlight. the streaming services film marriage story becoming a darling of the awards season, but will the original king of content latest report be another heart breaker or a love fest? we have our all star panel right here to hash it all out. by the way, fox business is holding an investing in you town hall tomorrow, with a live studio audience. it is going to be great fun. charles payne hosts. he will be there along with liz claman, stuart varney, dagen mcdowell and yes, you. if you want to come to our new york studios, just sign up at foxbusiness.com, and if not, of course tune in at 2:00 p.m. eastern tomorrow right here on fox business. that will be fun. "the claman countdown" is coming right back. 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

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ashley: breaking news for you coin desk is reporting yet another big company has quit facebook's libra association. british telecom conglomerate is

the 8th company now to pull out of the governing council for the facebook created digital currency initiative which has struggled to gain any traction as you can see. the bitcoin, the price is down slightly today, really of no consequence. let's get to this story streaming giant netflix set to report fourth quarter earnings over 30 minutes from now after the bell. the shares heading into earnings down about 1/2%. investors and analysts of course waiting on pins and needles to see if its competitors like disney plus or apple tv plus will actually put a dent in the netflix subscription growth. here to weigh in on what investors can expect, entertainment analyst, along with the ceo of slated and author by the way of a very public offering. thank you for joining us.

what are you looking for? what is the key metric in this earnings report that you will focus on? >> all eyes are going to be on the subscriber growth. that's as normal. but more importantly, i think being the first quarter that netflix is going to have to answer to the potential impact of this streaming competition, disney plus, apple plus, you almost sense hesitation as we talk to investors, not clear what to expect. but we think it is way too early to make any definitive conclusions as to the potential impact. this is a long marathon, and we always think that the streaming wars, while unfolding doesn't necessarily translate into zero sum game. there's no reason why subscribers cannot have multiple, you know, streaming subscriptions as we have already seen, the impact right now is on people dropping their traditional, you know.

that trend we think will favor quite a number of streamers which of netflix and disney plus we think will be among the potential winners. ashley: steph, let me bring you in, of course the growth or lack thereof of domestic subscribers is a key element. but netflix really wants to grow its international audience as well. but the international audience perhaps not as valuable as domestic. so if it's only showing growth internationally, is that a black mark against netflix? >> no, i mean, they have known that the streaming war is going to be coming. so i don't think there will be any shocking announcements downwards or upwards coming in, but this is absolutely the beginning of the streaming wars. it really is green field. most of the streaming players are still focusing on converting the hundreds of millions if not billions of the traditional linear programming subscribers. the upside growth is everywhere. it is more question now for

netflix of how much more debt do they want to keep piling on? are they going to get to a point where they actually need to become capital efficient which they started signalling last year. what we're seeing right now is they are still playing their play book from a couple of years ago which is overinvesting in really expensive oscar bait but at some point they will need to switch gears. ashley: that's a good point. what about the debt load, it is extremely high for netflix. they continue to say they will spend billions and billions more on original content to try and stay ahead of the pack. how sustainable is that? >> well, you know, that's a great question, and that's always that issue that comes back to investors, you know, assessments of the risks. you know, going back to the capital markets, the one thing, though, is that there's a lot of confidence that so far in terms of the debt issues to fund their content spending, i think they have done a pretty good job in

terms of the impact that they see. so you almost kind of see the trajectory here where with for example, 3.5 billion of deficit free cash flow this year, the main question is how they get to that trajectory of reducing that number even if they are accessing the markets to potential inflection in free cash flow. that's going to be the main thing and the main driver for how we kind of look at this, you know, going forward. a lot of that is going to depend on how much they spend next year. we think it could go up in cash content spending again, with the intensifying competition out there. ashley: steph, your company slated the world's first on-line film marketplace. i wanted to ask you what the netflix effect has been on financing films in hollywood. >> amazingly very little effect. last year where there was again a record set in terms of global box-office, three of the biggest of all time box-office records held by disney, but also most

people think that the indy film market, indy theatrical is going downhill, our own internal data actually shows despite some seasonal dips where everyone loses their minds, over the last ten years, indy theatrical films keeps climbing especially internationally. it is a great time to be an indy filmmaker for theatrical releases still. ashley: it is indeed and scriptwriters and everything else to do with the industry. great stuff, guys. thank you very much for joining us this afternoon. we appreciate it. let's take a quick check on the markets for you. the dow is off still 129 points. again, we were down from 200 points earlier, but we've come back a little bit. the s&p and nasdaq also slightly down at this time. the gloves coming off on capitol hill. both sides of the aisle firing their best shots as senators draw battle lines in the case against president trump. coming up next, democratic insider robert wolf talks impeachment and why it may be a dirty word for some of the left front-runners. he will explain.

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t. rowe price invest with confidence. ashley: you are looking at live picture of the senate floor where the impeachment trial of president resumed just a few minutes ago. democratic house impeachment manager congresswoman lofgren of california arguing her case for the schumer resolution on the actual rules of the trial. this was exactly by the way two weeks ago now to the iowa democratic caucuses. fox news contributor robert wolf and the former ceo and chairman of ubs americas joining us now, also a former obama economic advisor. so robert, as this goes on, how much of the country is paying attention? >> well, i caught a break in the green room, and i met lawrence taylor -- ashley: what a great guy he is. >> i have to admit i got a little break and that was well worth it. ashley: honestly is this making

a difference to the viewers, to the trump base honestly? >>i think it is to be determined. it is all about whether there will be witnesses or not. i think if there are witnesses, people will really engage. in there's not witnesses, i think we're going to have a vote that's relatively up and down and my guess go along party line. i think we won't know for a few days. ashley: how much of this is affecting the 2020 race on the democratic side when you have so many senators rather be out campaigning than doing this? >> perfect question. i think there's a lot of debate on that. i think it impacts the senators who are not on the stump more than most people are saying because surrogates are not the candidates. when you are shaking hands and kissing babies and taking selfies, they want to do it with your candidate. they don't want to do it with your surrogate. i would say it does impact warren, sanders, klobuchar and ben net, who are the four senators who are jurors for the impeachment trial. i think it impacts them. i think it helps the former vice

president biden and mayor pete. ashley: got to talk about mr. bloomberg, spending an absolute ton of cash. is he gaining traction, and the second part of the question is, what does he do with all his cash if he fails to become the nominee? will he commit a large amount of money to whoever is that nominee? >> since we're on a business show -- ashley: okay. >> what i will say is never short mayor bloomberg. ashley: there's another joke in there somewhere. you don't want to use the term short. but anyway, okay. >> he's going to disrupt the primary. we don't know what it means. he's the first one to come in for super tuesday without playing in the first four primaries, putting hundreds of millions of dollars into it. there's no question his angst against the president is probably beyond anybody in the field, except for maybe vice president biden. and he's been very clear that he's going to help, whether he's the nominee or whoever the nominee is, he may actually spend billions of dollars, that's what was mentioned to bill hemmer yesterday on his

show. ashley: yeah. >> so we have no idea the impact. we know it is going to be impactful. we are chatting beforehand to kind of coincide with the impeachment, he made an announcement over the weekend his ads are going to start hitting president trump on impeachment and he's going to start hitting senators who are in swing states, g.o.p. senators who are in swing states like a cory gardener and a susan collins and north carolina. he's going to impact kind of every which way. money does that. ashley: the very premise in which he entered the race is no one is going to vote for a far left candidate and i prefer someone more moderate, joe biden and he doesn't have enough gas in the tank. if he doesn't get it, he's already told everyone else the other people won't be successful. >> what i would say ashley in the primary season there's a lot of rhetoric and there's a lot of he said/she said and you know yeah i like you but i think you said this wrong. we saw the bernie warren

little -- we saw biden and bernie have a little thing. listen, it is a competition. and, you know, mayor bloomberg should be going for it. he can hit the candidates however he wants -- ashley: he is hitting the impeachment issue very hard at all. >> he said he will spend hundreds of millions of dollars attacking president trump on the impeachment. ashley: i want to pick up on something else that aoc, alexandria ocasio cortez said, that the democrat party as it stands is not a far left party. it is an in the middle, in fact rather conservative. would you agree with that? >> i would agree with that, and i would say that the moderate and center left is the silent majority. i think if you look at the populist left, which is the aoc, bernie, and warren, it is probably something like 25 to 30 per sent of the party. -- percent of the party? ashley: aren't they socialists? >> no, i think some are democratic socialist. we're going to have that socialist capitalist debate in

the general election. ashley: they just want to tax, tax, tax, it's got a lot of the foundation in socialism which is why bloomberg said no one is going to vote for that. >> you know me. i'm not for the tax, tax, tax, but i don't think trickle down has worked either. that will be an interesting debate about fiscal responsibility and whether taxes actually worked or not. i do say with aoc, the one thing that she's saying that's accurate is you look at the midterms. we won 41 -- the democrats won 41 flipping red to blue states. also won two of the last three governorships that were elected upon in kentucky and louisiana. you can't say if you are winning in kentucky and louisiana and you're winning in other places that are flipping red to blue that all of a sudden it is a populist left kind of network that's running. ashley: it is fascinating to talk about it. robert wolf. >> we will be talking a lot. ashley: we will indeed. appreciate it. let's take a look at the dow. we tried to come back, down 163

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some people say that's ridiculous. i dress how i feel. yesterday i felt bold with boundless energy. this morning i woke up calm and unbreakable. tomorrow? who knows. age is just an illusion. how you show up for the world, that's what's real. what's your idea? i put it out there with a godaddy website. make the world you want. ashley: beyond meat getting some buzz from starbucks. starbucks saying it will be adding plant based options to its menu as part of effort to reduce carbon emissions and water use and waste by 2030. while starbucks hasn't actually announced who it plans to work with on that plant-based menu

additions, beyond meat investors clearly hyped up on the news of yet another casual dining stock chomping on the craze. dunkin already offering beyond branded options including the limited time snoop dogg inspired dogg sandwich. what are you laughing at marco? mcdonald's also joining forces with beyond on its plt sandwich and impossible foods not to be outdone pairing with burger king on the impossible whopper. it's all just too impossible, right. beyond up at this hour 17 1/2%. all right. the big question, though, karl, would you be open to some fake meat? >> no -- i was going to try -- i think liz's producers are having a little fun. they want to hear you say the dogg thing. ashley: dogg. connell: coming up, top of the hour, ash, a big show today, obviously we're going to talk about netflix.

we will talk about boeing, which you have talked about as well. we're also going to get into this china coronavirus in a bit more detail as that spread, the first confirmed case here in the united states, bringing up questions about food safety in china, bringing up questions about china's ability to contain something like this and also bringing up questions about travel and tourism and all the rest. we will get into that. that's coming up when melissa joins me after the bell at the top of the hour. the real big story is netflix, right at the top, if history proves to be a judge, we should get those numbers. stay tuned. ashley: we can't wait. bring it on. connell: dogg, thanks. ashley: dogg mcshane, thank you very much. stocks -- where am i going with this? the dow off 160 odd points. we were down some 200 about 45 minutes ago. i'm betting those of you still on your new year's resolution.

are you heading to the gym? it sounds impressive. coming up next, our countdown closer, 2 billion dollars man, barry james is going to tell you how you can trim the fat from your portfolio. good stuff. "claman countdown" coming right back. this commute's been pretty rough, huh? it's great actually, i've been listening to audible. it's audiobooks, news, meditations... gotta go! ♪ ♪

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ashley: closing bell ringing just about 9 minutes from now. market off session lows but certainly a down day. the dow is off more than 200 points at one point. s&p 500 on pace to snap a three-day winning streak, down a third of a percent on the s&p. one stock though not to be slowed down this hour, tesla, surging more than 7% right now, pushing its total gain since january the 1st, all the way back then, to 31%. today's jump coming courtesy of its price target being raised on elon musk's empire to 800 bucks. i said that, 800 bucks. charlie gasparino has been out in front of tesla from day one.

is this an unstoppable stock? >> can we show that stock again? ashley: can we put that back up? >> i mean, remember, going public at 420 was it? or going private at 420, whatever it was. ashley: yes. >> allegedly had a buyout he didn't at 420, people thought that was too rich. here we go, 547. couple of things before we go to fannie and freddie, sort of one of these bubble stocks. this stock is trading on a lot of emotion. i have never seen a stock that divided the street as much. i have really smart guys that i know, who think it is -- is that him dancing? ashley: that's him dancing, yeah, all the way to the bank right now. >> i have really smart longs saying this is the future of cars. that's like him rubbing it into the shorts. for the average investor, you know, listen, here's the thing, george soros wrote a whole book

about market momentum. the momentum i mean it is all about -- what he did was talk about the mind of markets, when you have mass hysteria going one way, you can't get in front of that train. ashley: get out of the way. >> to try to short this with logic right now is probably not a smart thing to do until we get some sort of inflection point on the other way. ashley: all right. let's switch gears, if we can, fannie, freddie? >> they're closer to issuing -- doing a public offering -- not quite an ipo it is a public offering to recapitalize, it could be hundreds of millions of dollars. not quite public offering because they are already public companies. it will be kind of quasi ipo because it will be their first stock sale since taken over by the government in 08. they are closer to that now than ever before. vis-a-v vis-a-vis, as i have been told, and by the way, these things, it is the government, it could be delayed forever.

they are very close to selecting a financial advisor, the main regulator, once they select that advisor, they can get the wheels in motion to start this thing going. it is going to take a long time. they need a year of sort of retaining earnings or so. so it will be late 2020, 2021. ashley: is there a lot of interest in this on the street? >> yeah, i think so. i mean, i think if they do it right where there's some government backup, they make a ton of money now, i think, you know, they could sell it. and they are obviously going to have to presell. they are going to have to retain earnings. remember, the government is not taking -- some people would say stealing their profits anymore. ashley: right. >> they are paying back into fannie and freddie. taking the profits was after the financial crisis, the obama administration, extracted all their profits. ashley: yeah. >> so here's what we got. we've got them retaining their earnings now. we have the head of the fhfa i hear this month or next barring

some screwup who knows ready to pick a financial advisor. i hear it is down to two or three firms. ashley: but later this year? >> yes. i think i just heard charles payne he tried to walk in. >> wrong show, pal. ashley: wrong studio. >> he's right over here. only you would get excited about fannie mae. ashley: we're going to have to leave it there. charlie gasparino, charles payne, thank you very much. i want to take a quick look, boeing is trimming its losses in the final moments here after it shaved more than 100 points off the dow and hit over a one year low. down 3%. it was down a lot more than that earlier. boeing at 313. netflix by the way not the only big company reporting earnings after the bell. gerri willis live on the floor of the new york stock exchange. what can investors expect to hear from ibm today? >> it is going to be interesting. the stock is higher today, up 11% on the year, but earnings,

we are going to see, right? earnings estimate on the bottom line, revenue estimates, as you can see right here. look, ibm typically beats on the bottom line but we're expecting revenues here to be lower for the sixth time in a row. lots of questions about this company. the major one red hat, when will we see like the full benefits of this acquisition? it's an open source software company with ibm acquiring it last year and yet we're still looking for some real impact for ibm. the stock has done well this year, but on friday morgan stanley downgraded the company to equal weight from overweight, pointing to market share losses as businesses move to other cloud-based vendors. a lot of people in front of me here as we come into the close. back to you. ashley: always the sign it is almost done. many people hit gym for new year's resolution, i am not one of this i am the "countdown"

closer has the perfect workout to get rid of fat in your portfolio, barry james. if i need to slim down my portfolio, which maybe i do, i don't know, what would you suggest investors do? what is the fat in my portfolio? >> hopefully you don't have any fat in your portfolio. you're running around slim and trim. what we're actually doing, because we do find that we have some right now, stocks that have not done anything in the last year. you know, there is a whole raft of them with the market going up the way it has and these haven't participated and that's sending a very strong signal maybe you should move into something else. there is the other side, going from the ridiculous, to the sublime. apples of the world, microsofts of the world which are up, 50, to 100% in the last year, it is probably time, my seat getting a little hot and antsy about those. take a little bit off the table.

they're great companies. i wouldn't get out of them. i would take a little bit off the table. kind of looking at those two but also looking at some rotation. we've had all big cap growth oriented market. this is probably time you can pick off a little of that, maybe shift into some smaller names and maybe more value oriented names and that could be the next wave and even some international opportunities we see looking pretty promising right now. ashley: we talk about big tech everyday, they're such behemoths when it comes to growth to your point. it is very hard, if you look at the their charts they have been moving on and upwards and upwards. if i am an investor, i have cash, i missed out, is there room to grow on the big tech names? >> there is but, i would be very, very cautious at these particular levels. ashley: yeah. >> we see the market go up 15% in just about four months. we've got all the good news is

out as far as trade and so for the. and there is a lot of debt that companies have. there is vulnerabilities in the short run. pillars are good for market probably this year to be positive. i think again, i'm getting antski in my seat here. and can see some trouble there. those would be natural. they have gotten so big, so fast, prices have gone up so fast they are more likely to have some sort of a downturn and so i think there is opportunities to be shifting. as we saw in 1999, through, and then 2000, 2002 it went from growth to value. value made the money, you lost a third of your money over the growth side over the same three-year period. i think that is what is ahead. time to do some shifting in the portfolios. what better time to do it when you're at a high because you know the secret. you buy low and sell high. ashley: sell high. great place to finish it. barry james. great advice. thank you very much.

red across the screen on investors fears over the deadly china virus. [closing bell rings] that will do it for "the claman countdown. connell mcshane, melissa francis pick it up for "after the bell." melissa: a virus spreading and wall street taking notice. averages falling into the red, cdc confirms a case of mysterious china killed six people in china. the dow ending down. it will settle down 149 points lower. snapping a five-day winning streak, dragged down by shares of boeing as well. the stock tumbling after the company pushed back its timetable for the return of the 737 max saying it doesn't expect regulatory approval until at least the middle of the year. tough day. i'm melissa francis. connell: i'm connell mcshane. welcome to "after the bell." s&p and nasdaq also in the red. the nasdaq hit