20 years. this is not their first unorthodox collaboration. they have sold everything from branded bricks to honda dirt bikes and guess what, they always sell out and they make killer resellers. buy a box and put them in your freezer. liz claman, don't eat them. they will be worth a lot more money. liz: i put everything in my freezer. chocolate, cookies, i love everything frozen. charles: don't eat the supreme cookies. liz: save them. all right, charles, thank you very much. well, after riding wednesday's wave to record highs, stocks are hitting rough waters but as we head into the final hour of trade, a bit, i stress a bit of stabilizing is coming into play. the dow jones industrials, down 162 points right now but this morning, plummeted 388 after a call to arms by one of the biggest names on the street. his warning, the stocks you own haven't even begun to feel the full impact of the deadly coronavirus outbreak.

coming up, should the markets' top regulatory guns force companies to admit to investors what their exposure to the contagion really is? as blue chips, s&p and nasdaq sink into the red, we have the former s.e.c. director who says they'd better, and they'd better do it fast. plus, it's a company that's been doing anything but playing around. the man behind mattel set to address investors tomorrow. but he's here today, live on "the claman countdown." in a fox business exclusive, mattel chairman and ceo ynon kreiz on the new hollywood streaming partnership he's striking to turn hot wheels and barbie into big screen blockbusters. plus, the end of an era at lingerie giant victoria's secret. another city yanks the welcome mat out from under amazon. wait until you see who slammed the door this time. and the most valuable picks in an overvalued market. less than an hour to the closing bell. let's start "the claman countdown."

liz: we want to direct your eyes to the screen right now. you're looking at a live picture of president trump. he is at the las vegas metropolitan police headquarters. what he's doing there is delivering a commencement address at the hope for prisoners graduation ceremony. we are going to let you know if he breaks any news on business or the economy, the stock market. if he does, we will bring it to you. here's some news that broke this morning and it's still rocking the markets in this final hour. e-trade, check it out, up 22.25% but top performing stock daily long. some wall street krcritics are frowning on morgan stanley's announcement it will buy the discount broker for $13 billion. it's an all stock takeover of the brokerage firm. it's getting some scrutiny in this era of commission-free trades. we will be watching this and talking more about it coming up. first let's get to earnings. to the laggards.

viacom cbs hitting a new low after the first earnings report since its merger. the fourth quarter was slammed with a billion dollars in merger related costs. that's expensive. you do see viacom cbs down 17.33%. let's keep this roller coaster ride going. it's been a wild ride for six flags investors. the stock is hitting a seven-year low right now, up $31.46, after the amusement park operator swung to an unexpected loss and slashed its dividend by 70%. that stock is down 17.25% right now. let's flip it over to the leaders. shares of online real estate company zillow hitting a one and a half year high after revenues soared in the fourth quarter. that stock is up 17.5%. we should look at dominos too. it's soaring after same store sales growth here in the u.s. helped the company beat fiscal fourth quarter estimates. it's up 25% right now. let me get to the

coronavirus wild ride. that roller coaster continuing to shake, rattle and roll the markets as yet another warning sent stocks that were higher this morning into a red downward tailspin. today's warning coming from goldman sachs. the financial behemoth and one of their people, peter oppenheimer, cautioning investors that markets are way too relaxed about the potential impact the epidemic could have on businesses and their stock price, including stocks that are in your portfolio. fears are boosting safe haven assets like gold. check out gold, surging to a seven-year high today. right now it's up .75% here and we do have it at $1622 per troy ounce. that's a one week picture but as we said, it is rather strong at a seven-year high. take a look at this one. safe haven u.s. dollar, the greenback rising sharply. we wanted to show you how it's doing against the japanese yen.

it's rising against the yen. the yen for awhile was sort of this safe haven currency. not today. the u.s. dollar has surged nearly 2% against the yen since tuesday, and forcing the yen to trade above $112. so right now, you're looking at .89 but if you flip it, that's 112 yen it takes now to buy a single dollar. that's the highest level since april of 2019. so what is it that's really behind today's market moves? is it the goldman announcement telling you what we have been telling you, that these numbers are not real, we don't know how they're calculating them. when it comes to the coronavirus. suddenly goldman says it, and we get an instant selloff. market is stabilizing right now. what do you think? >> the market is a little worried you will get another apple, meaning companies will start coming in in the next few weeks saying hey, q1's a little soft, we have to take down earnings. with the market being up 42% off the december 18 lows, 20% off

the august lows, you may see in coming months that the market uses this as an excuse to kind of digest, consolidate the gains, have a normal healthy pullback until we have a healthy back half when boeing comes in the second half of the year. the second thing that was out was that options as a percentage, the notional value as a percentage of the total stock value is at an all-time high. the last time this happened was spring of 2012, also coming up 32% after a large correction, if you remember the euro prices in 2011. what it's saying in english is that managers are chasing with leverage. many managers underperformed in 2019. the market kept going so they had to get exposure and they're doing it at the exact wrong time. now, i think we may have a little gas left in the tank before people start diving down but you know, in the coming months, be on alert for a fornol

healthy pullback. liz: there is fear in the market but it's almost like it's coming every day. we have a selloff and china says wuhan had the fewest new cases but who knows their methodology. then the market jumps up. today you have goldman sachs, who i am more inclined to believe than any chinese numbers because they haven't exactly been up front about this, from the start, and then tomorrow, we may have a rally again. what is an investor to do as we see fear in the ten-year yield at 1.52%? >> it's incredibly confusing. it is incredibly confusing. however, there's no reason not to stay to the mantra of buy protection when you can and not when you have to. we talk about this all the time. when volatility levels on a rally come back down and you see the vix coming back down -- liz: okay. give me exact forms of protection you are buying. >> absolutely. buy upside vix calls. buy downside s&p or triple q

puts. do that, though, when we are going into rallies, when you see premium levels start to come down, because like you said, we don't know what tomorrow is going to bring, let alone an hour from now, given the headline risk. to have this sort of headline risk in the marketplace and not have protection in place, especially sometimes when it gets on sale, we all want to buy things on sale when premium gets cheap. that is ridiculous not to do that. stay long in the marketplace. tell investors keep your position, just buy cheap protection. liz: yeah, buy that protection on the vix calls there. phil flynn, do you agree? let me just flip it because i would be remiss if i didn't bring up oil. what a bizarre state for oil at the moment. we saw inventories come in way lower than expected. that was certainly bullish for the actual price of oil, which jumped up to 5388. you can see in the aftermarket, though, it is lower here. but i do want to make the point that with oil, the supply

concerns as in there's too much, or not enough today, are shoving aside the fact that demand could be much lower due to this problem in china. >> and that's the balance. goldman sachs tells me to panic, i'm going to panic, what the heck. come on, guys. if you look at what's happening in the oil market, i think it's a good reason not to panic. if you look at the way the oil market is resilient, is coming back, and listen, there's no doubt there might be more bad news that's coming down the pike when it comes to this virus. there could be more demand disruption. but that's not what the oil market is seeing. in fact, if you look at the oil market curve, it's actually telling you this demand disruption is going to be very short-lived and they are looking for the market to tighten significantly in the second half of the year. we are seeing one of the biggest backwa backwardations in price. prices are low now but if you go out a few months, they start to

get substantially higher. the market is betting on a big demand comeback. why? look at what's happening in china right now. they are stimulating the heck out of their economy right now. probably the biggest economic stimulus we have seen in recent years since their last financial meltdown. that's going to at some point mean more energy demand. that's why i think the market's doing pretty well in oil, up like eight days in a row now. liz: we have dollar higher, we have gold higher, gentlemen, we have the vix higher. who knows what's going to be happening tomorrow. that's why our viewers love you guys and we hope they love "the claman countdown" because in this final hour of trade, anything can happen, gentlemen. thanks so much. maybe last night's debate might be adding a little bit to this market anxiety. democratic socialist bernie sanders pounded billionaire business mogul michael bloomberg but he wasn't the only one. bloomberg got the front-runner treatment, facing fire from all sides of the debate stage including on the topic that's been familiar when it comes to bashing president trump,

releasing tax returns. listen. >> mayor bloomberg, your campaign has said that you would eventually release your tax records. people are already voting now. why should democratic voters have to wait? >> it just takes us a long time. we do business all around the world and we are preparing -- the number of pages will probably be thousands of pages. i can't go to turbo tax. but i put out my tax return every year for 12 years in city hall. we will put out this one. it tells everybody everything they need to know about every investment that i make and where the money goes, and the biggest item is all the money i give away. liz: all right. well, we need to look at turbo tax, down 1.5%. little, little slam over there from mike bloomberg on that. but that's the least of this issue here. we take you live now to the white house and blake burman. michael bloomberg said it will

just take time. i believe he has to file in all 50 states because he does business in all 50 states. does this now shift a very harsh spotlight back on president trump, where people say well, mike bloomberg's going to release them, what about you? you have been sitting in the presidency for three years now. reporter: you could even go back a year before that, when the president was on the campaign trail, in which the president has been clear time and time and time again, he is not going to release his taxes while he is under audit. he said that as a candidate like michael bloomberg is right now. he has said that repeatedly being here in the white house. michael bloomberg saying that he's going to release his taxes potentially in a few weeks after super tuesday, we will even see if he stays in the race until after super tuesday. that's not going to change anything of what the president's doing regarding his taxes that we have seen over the last four years. you can kind of keep that one there. speaking of the president, though, he really appears to like what he saw last night, up on the democratic debate stage, and a lot of that back-and-forth

between the candidates spilled on over to twitter earlier today. let me show you one tweet real quick. the president quoting michael bloomberg in which bloomberg said that senator sanders, bernie sanders, can't beat the president. the president quoted bloomberg and said mini, as he calls bloomberg. there is even less chance, there's even less chance especially after watching your debate performance last night of you winning the democrat n nomination but i hope you do. bloomberg fired right back, tweeting quote, shouldn't you be pardoning roger stone, you carnival barking clown? that's where we stand on this day, liz. last night as the debate was happening, the president was very critical of bloomberg's performance and once again, he was contending that democrats might try to take the election away from bernie sanders. watch. >> and i hear he's getting pounded tonight. you know he's in the debate. i hear they're pounding him. the dnc, the dnc is going to

take it away from bernie again and that's okay, because we don't care who the hell it is. we're going to win. we're going to win. reporter: started off by talking about taxes. let me give you a different money take. the bloomberg campaign just gave its s.e.c. filing, what it spent so far since bloomberg has been in the race. $463 million. and he might just be getting started. liz: at least it's all his. reporter: yeah, all his. every last penny of that. liz: and he made it. we have these headlines hitting the tape, blake. president trump is saying that roger stone has quote, a very good chance at exoneration. he also says that the strong opinion -- he has a strong opinion the jury forewoman in the trial of adviser stone is quote, totally tainted, but the president is now saying he's not going to do anything in terms of presidential power in the stone trial. he wants the process to play out. no pardon for now.

reporter: as i walked out here, the president was walking onstage. he is at a prisoner graduation ceremony in nevada, criminal justice reform is something that this white house often touts. it was interesting because when the president got onstage he hinted at a pardon for another individual, which brings up the questi question, this individual completely unrelated to the roger stone case, whether or not he could do the same for roger stone. you just read the headlines. not for now. but it's something to keep an eye on for sure. liz: i know you will. blake, thank you very much. blake burman from the white house. we've got this question. is the market's regulatory top gun ready to do battle with the fear contagion in order to protect investors or are they just sitting there saying we will help companies if they need it? with 45 minutes to go before the closing bell rings and the dow now down 190 points, as just a handful of companies admit that the deadly coronavirus will sicken their earnings, why hasn't the securities and

exchange commission begun demanding that all publicly traded firms 'fess up like apple just did? next, we discuss why they must do it now before your portfolio falls ill. you have to hear what he has to say. later, could the coronavirus stop the growing hot wheels hot streak in its tracks? mattel's chief ynons kreiz in a fox business exclusive. every year, our analysts visit thousands of companies, in a multitude of countries, where we get to know the people that drive a company's growth and gain new perspectives. that's why we go beyond the numbers. t. rowe price. invest with confidence.

that's why we go beyond the numbers. that's why xfinity mobile lets you design your own data. you can share 1, 3, or 10 gigs of data between lines, mix in lines of unlimited, and switch it up at any time. all with millions of secure wifi hotspots and the best lte everywhere else. it's a different kind of wireless network, designed to save you money. switch and save up to $400 a year on your wireless bill. and save even more when you say "bring my own phone" into your voice remote. that's simple, easy, awesome. click, call or visit a store today. and now for their service to the community, we present limu emu & doug with this key to the city. [ applause ] it's an honor to tell you that liberty mutual customizes your car insurance so you only pay for what you need. and now we need to get back to work.

[ applause and band playing ] only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ liz: we have been telling you now for days about those two passengers who were aboard the "diamond princess" cruise ship who were quarantined in japan after traveling to china. we have this now. those two passengers, an 87-year-old male and 84-year-old female, have now died, killed by the coronavirus. the cruise line industry was among the first to get slammed by the coronavirus. norwegian cruise shares are getting punished at this hour, down 6.25% while the company today just came clean about the mega-cruise liner's exposure saying it's canceling all asia voyages through september and, this is key, saying they expect to take an earnings hit of 75

cents per share for the full year. norwegian joins apple, adidas, puma and a few others in revealing just how exposed they are to the pathogen which now spans almost all the globe. but those companies have been the exception when you think of how many thousands of publicly traded firms there are. should the s.e.c., america's top market regulator, not just ask companies with close links to china to take precautionary measures, but require them to reveal the potential impact the virus could have on their businesses? norm chance served as director of the s.e.c. the attorney joins us now in a fox business exclusive. all right. if they know a portion of their assembly line or their supply chain goes through an area that is now being affected and they know it will affect their numbers, should they make sure they 'fess up? >> if the company knows it's a material impact on their earnings, the s.e.c. made clear

in a statement yesterday that that company needs to think about getting that disclosure. liz: think about is different than we require you. >> remember, the law requires companies to disclose all material facts. so we don't need an extra piece from the s.e.c. to say it's required. it's required. and companies face legal risk if they don't. liz: was this sort of a reminder boy t by the s.e.c., we know some of you are mega-exposed or minorly exposed, better make sure your investors know this or else. what would happen if a company out there doesn't let people know they are waiting, hoping this thing will die down and yet it does end up materially affecting the earnings? >> i think what the s.e.c. was saying yesterday is for those of you working on your financial statements or financial reporting, if this is an impact to those numbers, you better get it out there. what happens to companies in the united states if they don't disclose material facts, we all know they get sued. liz: sure. if i find out that i own a stock and somehow i didn't know that

part of their business was really dependent on china or an area that china is certainly affecting, or sending parts to, i'm going to be furious. >> investors have a right to know. that's the thrust of the law. the thrust of our system is disclosure to investors. so it's important for companies to consider that disclosure. liz: travel giant expedia declined to give full year guidance in its latest quarterly report due to quote, the unknowns of the ongoing contagion. could we assume that a travel company is certainly going to have bruises from this? >> i don't know their business, so i think they are going to have to assess whether it is material to their business and that's where all these companies are finding themselves. liz: before we end, we have this e-trade/jpmorgan deal. jpmorgan wants to buy e-trade, multi billion dollar all-stock deal. you think the s.e.c. or department of justice would have any concerns about this? >> so department of justice would have an antitrust review of any merger of that size. lu ha

you will have that consideration. however it is part of a larger trend in asset management, consolidations as margins have come in. liz: previous deals have indicated this one might go through? >> i would say we are generally seeing a lot of consolidation. it's just hard to make money in business. liz: good to see you. thank you. e-trade jumping 22%. that is the stock of the day. another city turning its back on amazon but there is an interesting twist with this one. wait until you see who and what side of the aisle the latest city leader who says no way to amazon sits on. millions of patients are treated with statins-but up to 75% persistent cardiovascular risk still remains. many have turned to fish oil supplements. others, fenofibrates or niacin. but here's a number you should take to heart: zero-the number of fda approvals these products have, when added to statins, to reduce the risk of cardiovascular disease.

ask your doctor about an advancement in prescription therapies with proven protection. visit truetoyourheart.com

liz: new year, same rejection letter for amazon. on valentine's day 2019, you may remember amazon announced it was pulling out of a plan to bring new headquarters and 25,000 good-paying jobs to long island city, queens, after harsh

blowback specifically from progressive democrat alexandria ocasio-cortez, who blasted the proposal due to the nearly $3 billion in tax breaks amazon, which pays no taxes anyway, would receive from the government. so people were a little upset and they said wait a minute, why is this company getting these tax breaks, so amazon pulled the plug. fast forward nearly a year later, and amazon facing a similar issue but with a different city, only this time quite the twist. to grady trimble in bolingbrook, illinois. another community pushing away the shopping giant and the jobs that would have come with it but what is the twist for our viewers? reporter: well, the twist is that the mayor who is pushing back in illinois is a pro-business republican of this village, chicago suburb of about 75,000 people. he's going up against the tech

giant, amazon, which has 750,000 employees and wants to put a fulfillment center right here. no tax breaks in this case, but he says the 1500 jobs that it would add wouldn't pay a living wage. he also says that the building would be ugly and twice the size of the tallest building in town. he also says the village just can't handle the traffic a fulfillment center would bring. >> $15 an hour jobs and maybe 5% of the work force is above that, superviso supervisors, whathave you, so it's a pattern. again, there are people who like those jobs, we have some of those now in current fulfillment centers, just not in that number. it's not a good fit. probably somewhere else, but not here. reporter: many other cities and towns across the country have bent over backwards to try to get a fulfillment center in their community. recently in montgomery, new york, that town offered tax incentives to get a fulfillment

center there. the idea is that if you bring in amazon, you might be able to expand your tax base and attract other businesses, but the question is, liz, as amazon tries to expand, we all want our packages faster but will they continue to face pushback from people who don't want the company in their backyard? liz: yeah. i'm thinking about how this used to be walmart, where people used to fight about walmart, don't come to our town. meantime, everybody wants to shop there because the prices are so good and why turn down jobs and as it turns out, walmart's paying more than what the old minimum wage was. i think you shouldn't cut off your nose to spite your face, but it will be very interesting to see and the fact that he's a republican certainly makes it that much more interesting. thank you so much, grady. grady trimble. imax is seeing an action-packed film of the day. we've got 29 minutes before the closing bell rings. the dow paring more of its

losses, now down 126 versus the earlier 388 point loss. nasdaq down 69. but the movie screen giant is currently rising but up just a fraction now. it had been up more than 4% intraday after beating quarterly numbers and beating revenue estimates, all fueled by disney's "the rise of skywalker." imax is a buck above its 52-week low, $17 and change. but could barbie be about to steal tall ball the big screen thunder? margot robbie set to star in the flick inspired by mattel's best known brand. up next, the man who orchestrated the deal to bring the soon-to-be 61-year-old toy icon to a theater near you. he's here in a fox business exclusive, next. 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 like it's supposed to. trulicity is for people with type 2 diabetes. it's not insulin. i take it once a week. it starts acting in my body from the first dose. trulicity isn't for people with type 1 diabetes or diabetic ketoacidosis. don't take trulicity if you're allergic to it, you or your family have medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2. stop trulicity and call your doctor right away if you have an allergic reaction, a lump or swelling in your neck, or severe stomach pain. serious side effects may include pancreatitis. taking trulicity with a sulfonylurea or insulin increases low blood sugar risk. side effects include nausea, diarrhea, vomiting, belly pain, and decreased appetite, which lead to dehydration and may worsen kidney problems. i have it within me to lower my a1c. ask your doctor about trulicity.

liz: it has been a rough road for american toy companies after big box retailer toys "r" us went bankrupt and liquidated a couple years ago. but mattel is bouncing back. the comeback story best illustrated in this six-month chart. during the past six months, the stock has scratched and climbed 23%. now, in october, the maker of barbie posted positive quarterly cash flow for the first time in three years. it also beat profit estimates, just last week, in its fourth quarter. barbie and hot wheels, the two most iconic brands, of course. also on the comeback trail, the star toys are set to become live action feature films as part of the company's overall strategy to leverage its intellectual properties across eight movies, two netflix shows and who knows what else. the man behind the moves is here in a fox business exclusive. we welcome ceo and chairman ynoynon

kreiz. is this the beginning of a new mattel? >> thanks for inviting me. it's good to be here. 2019 was an inflection point in our turnaround. we stabilized our lineup after five consecutive years of revenue decline, we restored profitability and as you said, we became positive free cash flow for the first time in three years. our strategy is working and we are making significant, tangible progress to transform mattel into being an ip driven company. liz: that means big screen, small screen. you've got the netflix shows. you've got barbie and of course, the woman who will star as barbie, she's like a living barbie, margot robbie. amazing. that's in partnership with warner, correct? >> that's right. liz: what will you do there? >> our purpose as a company is to empower the next generation to explore the wonder of childhood and reach their full potential. you could not imagine a better

flag carrier for that purpose than barbie. in terms of promoting diversity, inclusion, empowering women and celebrating women as role models. this is an exciting project in partnership with warner brothers. margot robbie to act and greta gerwig to write and direct. liz: i want to talk about "top gun." maverick tie-in with hot wheels. this is going to be live action. tell us what to expect here and who are your partners? >> hot wheels is a big franchise for mattel, of course. it's a partnership, in partnership with warner brothers. "top gun" is in partnership with paramount. this is a brand that's been around for 34 years. it's making a great picture, great movie, that will be action-filled. we cannot be more excited about this partnership. liz: it doesn't always work, though. if you look at american girl doll, which is one of your brands, i have to tell you, i remember there was an american girl doll movie, it was not

necessarily a blockbuster. you would have thought there would be multiple different spinoffs from that, part two, part three, sequels. but let's talk about american girl doll, because that sales number has not been good. it's dropped about 20%. what are you doing to revitalize that, or could it be that you would say no more american girl doll? >> american girl is one of the most iconic brands in the industry. it has a very passionate fan base and has a lot of potential. we are big believers in the brand. we are now in the middle of a turnaround. we are expanding the product offering, the line architecture, developing the website into a digital flagship. we are launching a content offering and of course, making the entire experience in the flagship stores more engaging. you will see great content around american girl. we have a movie in development with mgm and am very excited to bring it to the big screen. liz: as we look at all of the relationships you are making, there was the announcement with

universal today, i do have to ask you, because yes, as you are going from actual toys to putting iconic brands on the screen, people are asking right now about every single company's exposure to coronavirus. obviously you are still manufacturing toys and dolls. what kind of exposure do you have to this deadly pathogen with either your supply chain or assembly line? >> well, our first thoughts are with those affected. we are doing everything we can to protect the health and safety of our own people in offices all over the world. we said in our earnings call last week that there may be some impact for our supply chain in the first quarter, but it's too early to say more than that. we are watching for any developments of this. it is very fluid. liz: okay. a lot of companies, we just talked about this with the former s.e.c. director, is it enough to say we are not sure about the impact? what specifically is it, do you

have employees in the region, are tons of your sales coming from specifically asia and china? >> yes, of course. so we are taking action to minimize the disruption. as i said, it's too early to expand on that. but we are monitoring it closely. we have contingency plans and when we have more information, we will share it with the market. liz: you came from the movie industry, a company called maker, and that was bought by disney, correct? >> correct. liz: and when it comes to dolls, you are looking at hasbro on "frozen 2" and the trend of lol surprise dolls. completely different company, but what about baby yoda? will it impact the baby yoda plush toy sales? and i want one almost immediately, the second you are able to get your hands on them, thank you very much. >> very excited to bring baby yoda to market. we actually are launching it on april 1st. it's going to be a great product. a lot of demand. in fact, it was the highest and

fastest presale product we have ever had in our history. so you should expect a lot of buzz and excitement around it. liz: where will you be selling it? >> it's available on retail. liz: on your website? >> not on our website, but all retail everywhere. liz: amazon? people are going to wonder. >> amazon, walmart, target. liz: could it meaningfully impact your bottom line, if it really takes off? >> we haven't provided specific guidance for baby yoda but of course, we are looking to position mattel as a partner of choice for every major brand, every major independent company. if you look at our success with "toy story 4" and with "cars" and wwe, the great work we are doing with our partners is something we look to bring to baby yoda and other brands we partner with. liz: nobody says baby yoda like ynon. by the way, barbie was kind enough to make an actual liz barbie with the red hair. you guys see this?

amazing. she needs a boyfriend. you can send baby yoda to be her boyfriend. good to see you. good luck. >> thank you so much. liz: thank you for being here in a fox business exclusive. by the way, you've got to listen to my latest podcast featuring somebody who is very familiar to our viewers. gold bug and euro pacific ceo and founder peter schiff. what a back story he has of a very interesting and controversial father who ended up being imprisoned for being an activist when it comes to the federal tax code. when i was diagnosed with dupuytren's contracture, i waited to get treated. thought surgery was my only option. but then i found out about nonsurgical treatments.

it was a total game changer. learn more about the condition at factsonhand.com

it was a total [ fast-paced drumming ]

liz: we have breaking news right now, regarding the t-mobile/sprint deal that has of course been approved. sources are telling the "wall

street journal" right now that new terms for the merger deal could be announced as soon as this afternoon. same sources are also saying deutsche telecom, which owns a huge percentage of t-mobile, will now own potentially, under the new deal, 43% of the new company, up from under 42%. so of course, you're talking about specific exchange ratios in what was an all-stock deal, prices started to move because this merger took so long, so obviously, deutsche and t-mobile are looking for better terms and they may just get them. both stocks are marginally down with the t-mobile down about 1%. america's favorite runway angels are going private. victoria's secret owned by l brands being sold to a private equity firm in a $525 million deal. l brands was sinking hard and fast until recent weeks, when it became no secret that l brands' ceo and founder would have to step aside and let go of the

lingerie brand at the heart of his retail empire. now that day has officially come. deirdre bolton has been in the newsroom diving more deeply inside one of the biggest game-changing sales in retail. talk about sycamore partners picking up victoria's secret. deirdre: i just want to give a shout out, we know les wexnar is the longest running ceo of any fortune 500 or s&p 500 company. these changes will come swiftly. he's stepping out. the company is selling, that 55% stake in victoria's secret, to sycamore partners. you talked about this private equity firm. l brands, by the way, will retain 45% but insiders say the brand revamp of victoria's secret will move so quickly, it's going to move away from packaged sexiness and towards comfort and functionality. analysts say basically this company lost touch with consumers awhile ago. research shows that millenials prefers brands that are practical, natural, embrace

environmentally aware production methods. victoria's secret answered none of that, plus as we know, mall foot traffic slowing down. experts say sycamore moves aggressively so look for stores to close, brands to be spun off and a shift in merchandise. sycamore has a very long retail history, pruning, investing, hot topic, limited, talbott, it has been in the reconfiguration of all of those companies. sycamore investors likely to profit. bond holders, a little bit less clear. retail employees also less clear, obviously if stores close quickly. but the hope for all this is that the chain can rehabilitate some of its image, can tweak merchandise to get a little interest to get at least some millenials back in the stores but all this would be done outside the glare of public markets. i do want to just let everybody know, bath & body works which does have stronger sales, is the soap, body care line, that's going to be a stand-alone

company and will trade publicly. back to you. liz: what do you know. the big stumble came when they got rid of their swimwear and tried to bring it back. deirdre: people were outraged. liz: you could match if you were bigger on top, smaller on the bottom, you could mix and match. deirdre: they had to bring it back but right now you can only get those products online and that is not clear whether it will continue. for everybody who wants it, i guess buy now before there's a big tweak. liz: you could argue that a company we profiled several years ago, an upstart, adore me.com, really put victoria's secret on its heels. adore me.com has become a lot bigger and maybe is part of the reason that victoria's secret is in trouble there. thank you, deirdre. closing bell ringing in seven minutes. with the dow down 157, we are looking at a little bit of a rough day for the markets. interestingly enough, the transports have been in the green, but not much else. when we come back, our "countdown" closer. don't go away.

you met on an app. delete it. why? he's the one. awww. gesundheit. i see something else... a star... with three points. . . could be a mercedes-benz in your near future. lease the a 220 sedan for just $349 a month at your local mercedes-benz dealer. we were paying an arm and a leg for postage. i remember setting up shipstation. one or two clicks and everything was up and running. i was printing out labels and saving money. shipstation saves us so much time. it makes it really easy and seamless.

pick an order, print everything you need, slap the label onto the box, and it's ready to go. our costs for shipping were cut in half. just like that. shipstation. the #1 choice of online sellers. go to shipstation.com/tv and get 2 months 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 while our competition continues to talk.

♪ talk, talk ♪. liz: closing bell. we're four minutes away. here is the good news. even though there is red on screen, check this out. the s&p 500 has more than cut offer 2/3 of its losses coming back. still down 13 points. had been down 45. same with nasdaq. it had been down 180 points. now the nasdaq is down 60 some points, 66 points. i'm trying to see the bright side of things, connell. everyone accuses me, all local news, missiles headed our way. connell: missiles? by the time melissa and i get on, three minutes, flat to unchanged, maybe up two points. give us a minute. much more coming up here in the

next hour, liz. in addition to the closing numbers on wall street. this story, we know college cost as lost money. it is kind of interesting. usa is cut, university of southern california, if a family makes 80 grand or less, taking away tuition, tuition-free. other schools doing it but usc, there is big competition with the public university system out in california. mentioned in a scandal you may have heard of over the last year or two. the fact usc is doing it is something we'll talk about. we'll have that and numbers you mentioned, when we eyou in less than three minutes. liz: i remember the headline. thousands killed on the through way. it was -- connell: very good. hype it up. liz: connell and i have been there. connell, thank you very much. latest market call, the popular one has been that stocks are overvalued. right now our "countdown" closer is here to talk about the best

value names in a overvalued market for your portfolio. we welcome riley chief wealth management. what are the overvalued stocks in a overvalued market? >> the s&p is about 19. the five-year average is 16.7. so it is about 13% overvalued but there are stocks that are undervalued. you look at at&t. it has 10.5 pe and a 5.3% dividend yield. you have got progressive corporation. you have got intel. you've got cisco. don't forget in the long run at&t, cisco and intel are going to be beneficiaries of the 5g tech revolution. might not be until next year or the year after. but for value investors these are undervalued right now. liz: i really want you to explain. we don't unlike the other business networks simply tsunami

people understand what appeasement e ratio chris. price to earnings. in lay layman's terms what doest mean? >> buying average of s&p 500 you're paying 19 times earnings for that company. liz: at&t, pe of 10. >> you're paying 10 times annual earnings for that company. that is lot cheaper and, so, if you're a value investor and you're looking for a long-term buy for companies that are going to do well in the next few years, you know, these are things to look at. liz: they have good dividends too. >> 5.3%. liz: fascinating. thank you for giving us some value names in what everybody says is an overvalued market. value guys, it means you're not over paying for momentum name. read, tesla. good to see you. paul detreich, thank you so

much. [closing bell rings] liz: i'm a fan ever tesla but it is overvalued. markets closing well off the session lows but that is no solace for the bulls who are red paint slapped all over their fur. that will do it for "the claman countdown." connell: all right. cutting the losses on wall street. major averages ending the day well off session lows. investors monitoring the impact of the coronavirus among other things and the dow is lower by 130 plus points. we were 300 points down at the lows. >> i love it. you always look on the bright side. connell: always. just the opposite is the truth. we did end up off the lows today. good to be with you, how about that? i'm connell mcshane. melissa: i'm melissa francis this is "after the bell." the s&p 500 also ending in negative territory. the nasdaq snapping a three-day record streak. both are less than 1% away from their closing highs. more on the bigar