maria: thanks, everybody. great to see you. have a wonderful day, everybody. thank you for joining us. "varney & company" is up next. stu, take it away. stuart: all right, maria, i shall. good morning to you. good morning, everyone. all right. we cover money and we cover politics. oh, what a day this is going to be. three hours from now, the four most powerful executives in the world will face the politicians. jeff bezos, sundar pichai, tim cook, mark zuckerberg are on deck defending their power, money and business practices. it's the start of the great debate. what to do with the crown jewels of american business. tax them, regulate them, break them up or maybe leave them alone? look at this. left-hand side of the screen,

just hours before the hearings and one day before they tell the world how much money they've got, all their stock prices are on the upside. all right. now to politics. joe biden says he will announce his vice presidential pick by the end of next week. it's probably the most important veep selection in history. he's 77. he's forgetful. occasionally unfocused, and he does not campaign vigorously. if he wins in november, who will really run the country? we will find out. getting back to classroom learning. looks unlikely in many parts of the country. that means parents scrambling for child care and lower educational standards. the american federation of teachers says their members will strike if safety is at stake. they don't want to go back. the union's president will join us shortly. as you look at the early market action, remember there will be a federal reserve news conference this afternoon.

that will give us a hint as to how much money they are going to print and how long interest rates will stay at rock bottom levels. the dow up 45, maybe, s&p on the upside, nasdaq gaining about 60 points. better stay there. in a few minutes, the president leaves the white house for a trip to texas. odds are he will take some questions from the media. you don't want to miss that. "varney & company" is about to begin. stuart: first off, just take a look at boeing again this morning. president trump has announced they've got a big deal to make drug ingredients. it's become a pharma company but look at it go, up again, up 200% yesterday, up another 100% this morning. 16 bucks a share. by the way, the ceo will join us in our next hour. here's another winner, the chip maker, advanced microdevices.

revenue up 26% last quarter and they have raised their revenue outlook for the year. that stock is up a whopping 10%. big gain for a chip maker. starbucks, the pandemic beat them up. same store sales down 40% last quarter. they lost $3 billion. but they are banking big on curbside pickup at about 1,000 stores, and that's put the stock up nearly 5%. some big movers today. now, here's the story of the morning. the stceos of the crown jewels american businesses testifying to the house judiciary committee. apple, amazon, facebook, google. susan, what are we going to hear? susan: they are all sounding very patriotic, branding themselves as american companies and basically the products of the innovation and freedoms that america provides. let's take a look at the opening statements already posted on the websites and released to the public. jeff bezos sounding very personal in his remarks. he says in fact amazon has made billions of dollars of failures,

failure inevitably comes along with invention and risk taking, which is why we try to make amazon the best place in the world to fail. we know jeff bezos, this is the first time testifying on the hill. as for apple, tim cook says apple is a uniquely american company whose success is only possible in this country. mark zuckerberg of facebook says i'm proud that we stand for american values, like giving every person a voice and expanding access to opportunity. but there is no guarantee our values will win out. sundar pichai of google saying competition always sets higher standards for privacy and security. i've always believed that privacy is a universal right and should be available to everybody. google is committed to keeping our information safe, treating it responsibly. this will be very interesting because combined market cap of all four of these companies is bigger than germany's economy at $5 trillion. net wealth on that panel will be around $265 billion. they will be looking at jeff

bezos and zeroing in on him, first time testifying on the hill, something reportedly he's been trying to avoid. stuart: he's on deck today. susan, thank you very much indeed. market watcher shah gilani joins us. shah, can you explain why all these big tech stocks, they are going to appear at the hearing but the tech stocks this morning are up. why so? >> it's still early, stuart. i hope they remain up. i think they are probably up because they've got earnings coming out tomorrow and i think they should all beat or do well. but i'm not so sure they will have an easy day today on the hill or virtually at this house subcommittee hearing. i think they are going to be held up as bad examples of everything that is wrong with those companies, including maybe even the ceos themselves. it will be a real political show, unfortunately, and really how these ceos answer the questions i think is going to be a determining factor in how investors look at their stocks over the next couple of days, certainly through earnings and through the rest of the week and

as we go into the election, because i think we may get a picture today from the house as to what they may push for right up to the election. stuart: but regardless of the criticism and regardless of what their defense is, nothing's going to happen to them for a very long time to come, because they've got so much money, so many lawyers, so many lobbyists, they can delay any nasty action against them for years, can't they? >> yes, you're absolutely right. it doesn't mean investors won't want to take profits off the table. the tech stocks have had a tremendous run off the march lows and they are starting to look a little bit tired. i think they are at a point, and this is a very particularly important week because of the hearing, because of the earnings, they are actually all at a point where they could probably lose anywhere between 3% and 10% if investors decide to take profits off the table. i'm a bit concerned this week that that could happen. stuart: but do you think it's

likely, 3% to 10% down for these big techs likely? >> no, not likely, stuart. possible, yes. probable, no. but the investor in me doesn't matter what happens. you hold on to these things, they are going a lot higher. the trader in me says if i can get them another 10% lower, i certainly would. just because of where they are, how they have traded for the last two weeks, technically, the way i look at the market, these are slightly vulnerable coming into today, coming into earnings tomorrow. stuart: got it. shah gilani, thank you very much indeed. see you soon. let's go to boeing. they did report their position this morning. lauren, first thing i know is they lost a lot of money. what else? lauren: they lost $2.4 billion and said they are going to slow jet production as their customers, the airlines, are also reporting steep losses because of the pandemic. demand is down for the grounded 737 max. major problem for the airlines -- for the jet maker but also for their more

expensive dreamliner. those are popular on international routes but demand for that is anemic right now. revenue fell 25% in the quarter to 11.8 billion but take a look at the shares of boeing. they are up 1.5% today because investors aren't totally disappointed by this report. if you look at the level boeing is trading at, it's about half of what they traded at last year. stuart: i happen to know, lauren, i know that to my own cost, by the way. lauren: i know. i know. stuart: okay. i won't repeat it. all right. now, next, we have this. i'm surprised to see this. mortgage applications dropped last week, down 2% from the week before. john lonski is with us. he's a guy from moody's. john, you are our guy talking about real estate. up until today, we talked about real estate really being a strong part of the housing recovery. now we've got mortgage applications down 2% week to week. you read much into that?

>> nothing, stuart. we know that one week's worth of data does not constitute a trend. might i add that despite this weekly decline, we are still up by 68% from our low back in early april of this year. in fact, for the latest reporting week, july 24th, home buyer mortgage applications are higher by 21%. housing's recovery remains intact. stuart: give me a big picture deal here for a second. because we've got congress debating another stimulus package. we've got the federal reserve looking at interest rates and printing money. do you have any doubt that the government's going to spend much more than a trillion dollars and the fed will keep on printing money for a long time to come? in other words, do you have any doubt that more massive stimulus is on the way? >> as long as we have a significant number of covid-19 cases, i can guarantee you that

you're going to be getting more fiscal stimulus from washington. perhaps eventually you will get another trillion dollars or so on top of the trillion dollars recently suggested. you're going to see the government budget deficit as a percent of gdp approach world war ii levels between 15% and 20%. mortgage yields, i mean, interest rates in general, are going to remain low indefinitely as the fed keeps the federal funds rate close to 0% until a now double digit unemployment rate drops down to roughly 5%. that may not be until 2023 at the earliest. stuart: housing boom, lots of stimulus money, sounds to me like a positive for the market. yes? >> yes, it is. believe it or not, very quietly, there is this phlx index of housing sector share prices, for the third quarter to date,

that's up by 13.8%. nasdaq is up by only 3.4%. in the second quarter, that housing sector share price index, up 41%. that beats the 31% increase posted by nasdaq. so the equity market is very much looking for a substantial rebound by housing, by housing related spending, on building materials and whatnot. stuart: john lonski, thank you very much indeed. on that note, look at where the market's going to open this morning. we are going up again. i see green. it's not a huge rally by any means but the nasdaq is going to be up about half a percentage point. big tech is looking good. looks like politico may have jumped the gun after publishing and quickly deleting an article which announced kamala harris as joe biden's running mate. the original post even had a direct quote from biden. we are covering that. on capitol hill, sparks

really flying during attorney general bill barr's so-called hearing. watch this. >> we've only got two minutes, sir. >> -- that they recognized -- >> mr. barr -- >> but this is a hearing. i thought i was the one that was supposed to be heard. >> i'm aware of protests -- >> reclaiming my time. >> does it have -- >> mr. barr, i will get to that. stuart: a lot more where that came from. the democrats didn't even let him speak. chairman nadler wouldn't let him take a five-minute break. the full story coming up for you. as the big tech ceos testify today, the ceo of tiktok is out with a scorching statement slamming facebook. we will show it to you next. ♪

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stuart: big tech ceos testifying later. one of them, mark zuckerberg and now the ceo of tiktok has released a scorching statement which really slams facebook. hillary vaughn, what's he saying? reporter: what's interesting is as facebook's mark zuckerberg is going to make the case to congress today that they have plenty of competition and that they don't use their dominance to squash their rivals, one of those rivals, tiktok, their ceo is coming out with a blog post this morning that's essentially saying the opposite, saying that facebook has been on a mission to make sure that they eliminate their rising competitor by trying to make the case that tikt tiktok, whose parent company is based in china, is essentially unpatriotic. the ceo saying quote, let's focus our energies on fair and open competition in service of

our consumers rather than maligning attacks by our competitor, namely facebook, disguised as patriotism and designed to put an end to our very presence in the u.s. tiktok's ceo also makes the argument that they are apolitical. they are basically one of the only social media platforms that advertisers have access to that does not take advantage, does not take profits from political ads. that's a topic zuckerberg will address today because they have faced a lot of criticism of how they regulate those political ads on their platform. today he will argue that they should not be the ones making the tough call. stuart? stuart: he's not the only one who will go after facebook later on today. thank you very much indeed. this just coming at us. philadelphia schools will go virtual until at least november. the superintendent says they received a lot of criticism for the original plan which was to send kids into school for just two days a week. the superintendent told parents virtual schooling would not be for the full year.

that, he said, would only hurt students. a teachers union representing 1.7 million teachers will support teacher strikes if returning to the classroom for classroom learning is not deemed safe. randi weingarten is with us, president of the american federation of teachers. welcome to the program. great to see you again. let me put it to you, can i just put it to you from the point of view of educating children. it seems to me that virtual schooling has not been a success, it's hurting minorities most, and it's keeping some kids at home, some of them in abusive situations. now, under your strike threat, they will be out of school for a very long time and i think their education suffers. what's your response? >> so look, we actually agree with you, stuart. we think that we should be back in school and frankly, in april, we put out the first report

about how to get there because we know that remote learning doesn't work, and frankly, before the surge resurged and before mr. trump and betsy devos's recklessness in july, 76% of my members polled in june thought if we got the federal funding and we could make it safe in those places where the virus had been contained, we could actually get back to school in a hybrid model. but all heck has broken out in the last few weeks, particularly in places like florida, california, texas, and that's part of the reason why you see texas going back and saying let's wait for us to contain the surge. that's why you're seeing that in california. that's why you should be seeing that in florida and in philly right now, where they were trying to do that, what's

happened is they can't get the ventilation systems so that they're safe right now. they can't even get soap so that kids can wash their hands. so that's why we are trying in these kind of places to start remotely and then get back to school. we want to be back to school. we need it to be safe. stuart: okay. look, i think we are in agreement here, which is kind of unusual for you and i, but nonetheless, i think there's some agreement here. but to me the bottom line is that we are not going to go back to classrooms. i know there's very good reason for it. but we're not going back. the bottom line is that for the rest of this school year, most children will not get the education that they deserve. now, we can apportion blame left, right and center but that is the bottom line. >> i wouldn't say it's for the rest of the year. we have dr. fauci last night at a town hall meeting, 100,000 of our members watched him.

i asked him that question. i asked him the question about a vaccine. when you're hearing districts like houston or districts like philly talk about this, they're talking about starting this way. there are some other places we are talking about, if we can make it safe, bringing teachers together at the beginning of the year, like in new york in classrooms to work together. in massachusetts, in classrooms to work together. in puerto rico, they are bringing teachers in to do the remote learning because there is better equipment in those schools than others. it's just that we have to do both because what happens, just like in baseball, where they have all the testing, where they spared no expense, you see what happened in terms of kids testing positive. we want to be in school with kids. i can't emphasize that enough. but we have to make it safe. stuart: okay. i think we're going to agree to

slightly disagree which is most unusual but very well put, randi. we really thank you for being on the show today. come on back. this is a very important subject. >> very important. thank you. stuart: it really is. quickly, check the market. this is how we are going to open this morning. a small amount of green. let me put it like that. the nasdaq is going to do very well. we'll be right back. ♪

my name is janelle hendrickson, and i'm an area manager here at amazon. when you walk into an amazon fulfillment center, it's like walking into the chocolate factory and you won a golden ticket. it's an amazing feeling. my three-year-old, when we get a box delivered, he gets excited. he screams, "mommy's work!" when the pandemic started, we started shipping out all the safety stuff that would keep the associates safe to all the other amazons. all of these are face masks, we've sent well over 10 million gloves. and this may look like a bottle of vodka. when we first got these, we were like whoa! [laughing] with this pandemic, safety is even more important

because they're going home to babies, they're going home to grandparents. so, our responsibility is to make sure that they go home safe every single day.

stuart: i'm showing you netflix. it is up this morning because they absolutely cleaned up at the emmy nominations. tell me more about it, lauren. lauren: well, they spend a lot of money and it is paying off, stuart. netflix spends more than any competitor to make their content and it earned more emmy nods as a result. a record 160 for netflix compared to hbo's 107. okay. so how much did netflix spend last year? about $15 billion. this year, more than $17 billion on content. that's five times more than their closest competitor, hbo. so the bottom line is, it is expensive to compete in streaming.

stuart: yeah. the stock is back to nearly $500 a share. good stuff. susan, tell me about the competition. susan: it's heating up. we know netflix has a lot of streaming competition and more coming online this year. let's take a look at the latest subscriber numbers. for instance, nbcu's peacock launching this month, 1.5 million apps download in the first six days of this year. that's 20% more than quibi during that same period. hbo max reported over 4.1 million subs in its first month, less than what disney did, since they had ten million in their first week out. disney tv we know is booming, over 54 million subscribers at the end of the first quarter. we know compelling content is what's driving paid subscribers. awards do help but money probably counts more since we know netflix spent about $15 billion on content which is pretty much how much they make in sales. that's how it is, money, dollar, eye balls. stuart: money talks. it really does. it makes the world go round as far as i'm concerned.

they are all doing well this morning, all the streamers. now look at moderna on your screens now. controversy over the price of their vaccine, lauren? what have we got? lauren: this is a tough one. moderna wants to sell the two-dose vaccine for $50 to $60. pfizer is looking to sell it for about $40. here's the rub. astra-zeneca signed a deal with europe, $3 to $4 a dose. so moderna [ inaudible ] about a billion dollars in federal money to develop its vaccine. there are so many factors that determine drug pricing, the timing, the strength, the competition, and it raises the question, should companies profit from their covid vaccines. they are on different spectrums with this. it depends. stuart: especially when you get $1 billion to develop the vaccine in the first place, then you've got a relatively high price when you sell on it the market. it's an interesting question, is it not. we will get to it later. lauren: it is.

stuart: i don't think there's an answer to that question. we just presented reality. we are about 15 seconds away from the opening of the market this wednesday morning. that means any moment now, you will hear the bell ringing. there we go. we are going to open probably in the green for all three indicators. but it's going to be all eyes on big tech, because four of their top executives testify today. here we go. it's 9:30. we're off and running. right from the start, we've got a very slight gain for the dow jones industrial average. moving on quickly to the s&p, please, because we don't have that much stock price movement this morning. although the s&p is doing okay, up .33%. the nasdaq, that's going to do well. the nasdaq this morning is opening with a gain of .66%. they are moving up. let's go back to big tech. all of them on the upside. those four companies, their chief executives will appear today, being questioned by the politicians. in advance of that questioning, which may be harsh, those stocks

are up. all right. look at spotify. they reported a deeper loss, a deep loss, i should say, down 5% on the stock price now. they've got 299 million monthly active users, 138 million paying subscribers. the stock is down 5%. boeing reported earlier. they lost $2.4 billion. revenue down 25%. all that's expected because of the virus. the stock is up a fraction, 60 cents. general motors, they reported a small profit. vehicle sales down more than 30% compared to last year. again, all expected because of the virus. the stock is up 1.4%. now, the most interesting stock story to me is kodak. talk about a resurgence. what, up 200% yesterday, up 128% this morning. they have become a pharmaceutical company. that's what's going on here. lauren, what did the president

say about them? lauren: yeah. this is amazing. 130% on top of yesterday's 200% surge. well, the president announced a major deal to move generic drug ingredient manufacturing back home. >> today my administration has taken a momentous step toward achieving american pharmaceutical independence. very very big, big step. a focus of our campaign to bring america's critical supply chains and medical manufacturing back to the usa. lauren: the award for kodak, $765 million. they do have to pay that back. the benefit, little reliance on china and this is quite honestly a new lifeline for the photography pioneer and investors are celebrating that. stuart: i asked my grandchildren, ever heard of kodak? no, never heard of kodak. never heard of them. lauren: yeah. they were hurt by the digital camera. stuart: they certainly were.

lauren, thank you very much indeed. i'm going to put on the screen another winner for you this morning, amd, advanced microdevices. they have very big numbers reported this morning and a bright future. what's the bright future, susan? susan: at the expense of intel. amd looks to be hitting on all cylinders, better earnings, raising guidance for the full year. that's pretty rare in this coronavirus age, don't you think. they make these chips that go into pcs for computing and also data centers. microsoft, sony are some of their big customers and they are probably going to increase their orders given that intel is now delaying their next generation computer chips and that means more customers and more orders for amd. i should note that amd's ceo, first woman to top the fortune ceo pay list last year. she took home nearly $59 million. just to get back to that eastman kodak story, don't you think that's probably the biggest pivot in history and probably what's happening with amd, pivoting away from intel to amd chips instead.

stuart: i find the kodak stuff astonishing. we never mentioned them for months and even years. never even mentioned them. suddenly the stock's up over 300%, nearly 400%. susan: i think we mentioned them as a cautionary tale, meaning you don't innovate, that's what you become. you become eastman kodak. look, i think they are taking that to heart right now, taking their own advice. stuart: i think they are. thanks, susan. next stop, starbucks. okay. the virus hurt their sales but the stock is up nicely this morning, 3.6%. lauren, this is all about curbside pickup, isn't it? lauren: speaking about pivoting, yes. they have pivoted to curbside pickup and they will now offer it at 1,000 more stores. but this is the worst loss, numbers were bad, worst loss for starbucks in over a decade. their same store sales globally fell 40%. it gets a little bit worse for the company. it resulted in lost sales of more than $3 billion in the quarter and starbucks had to pay

workers more money to come in, and their same wages to stay home. guess how much that cost them? $350 million in the quarter. stuart: $350 million. my goodness me. lot of money. got it. lauren: paying you to work and stay home. stuart: right. all right. we are five minutes into the trading session. here's where we are. dow is up 44 points. just look at that level, 26,400. the ten-year treasury yield this morning is .57%. the price of bitcoin -- sorry, gold, let's do gold first, gold, $1977. getting pretty close to $2,000. the price of a bitcoin, one bitcoin, $11,120 this morning. oil, not much of an indicator these days. $41 a barrel. show me fire eye, please, a cybersecurity company. it reported this morning. susan, what's this, another pandemic winner? the stock's up. susan: record earnings, yes. cybersecurity is a hot sector and probably more important than

ever this year, especially as you saw and probably exemplified by that embarrassing twitter hack earlier this month. firee fireeye, it's not just them in the cybersecurity space that's doing well. take a look at crowdstrike, up 2.5%. another pandemic winner. this stock is also by the way doubled so far this year. when we are talking about an election year in 2020, cybersecurity is probably more important than ever, especially as more companies are having to work online from home. so you can imagine they are all pandemic winners. stuart: you know what, it's been awhile since we heard of a major breach or a million person hack. been awhile since we had that. susan: i think it's also, we did have that twitter hack, probably one of the biggest in social media history, right? that was embarrassing and also a sign that your private messages are not safe on twitter and you need to increase your security. stuart: thank you, susan. i had forgotten that. thank you very much. all right. we are still up but only just. the dow is up 19 points, 26,400

or thereabouts. the miami marlins now pushing their season -- i dropped it. after more players test positive for the virus. does that mean the entire baseball season's in jeopardy? we are going to discuss that. what a mess. don jr., donald trump jr., that is, lashing out at twitter for suspending his account after he tweeted about hydroxychloroquine. roll this tape. >> i'm not a doctor. i didn't claim to be. i just put something out there that challenged the narrative and because i have a large platform, i'm canceled. stuart: does he have a point? we will debate it. speaking of twitter, it's going to be a big day on capitol hill with big tech ceos testifying before congress. my next guest believes it will be quote, a day of reckoning. how about that. we'll be right back. ♪ just over a year ago,

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stuart: the big story of the day, those four tech titans testifying today. our next guest has been watching them all very closely for years, and he says their day of reckoning is finally here. that's his quote. come in, matthew taylor, he's the director of the creepy line. that is a movie which really took the social networks to town. matthew, welcome back to the program. what do you mean by the day of reckoning is here? tell me. >> look, we all remember in 2018 when google was invited to congress and they didn't show up and it was the famous empty chair. they disrespected their users, their breaches and all sorts of privacy issues, and they basically completely ignored the government's calls to rein in their bad activities. i think this is a show of force,

because you know, usually they will bring one or two in, they will bring in mark zuckerberg. this will be bezos's first time sitting in front of congress. but to bring them all in at once and sit them all down at once, that is a massive, massive show of force from the government saying look, we're not messing around anymore. there will be no empty seats there today. stuart: but whatever the government wants to do with them, will be delayed for years and years and years because those four companies have, what, $434 billion in cash. you can buy a lot of lawyers and a lot of lobbyists with that. so nothing's going to come of these hearings in the immediate future. nothing at all. or what? will you go at me on that one? >> look, i agree. i think that trust but verify. the problem is that they can ask questions but they can't get into the system to see if they've done anything or changed anything. the best thing that a lawmaker can do is break them up but in my opinion, i think breaking them up is very dangerous.

i think large parts of our economy have integrated with these companies to a point that if you broke them up, for example, what does that do, what happens with health care, traffic lights and all the other systems they have integrated into? congress is really going to have to come up with new solutions, not standard oil style solutions, because these are not those kinds of companies. stuart: i want to move on to another issue you talk about, and that is the censorship of conservative posts. donald trump jr.'s twitter account was suspended for 12 hours because he put out a post about hydroxychloroquine. here's what he had to say about it on tucker last night. >> it was very nice watching the people from cnn or msnbc because jake tapper himself, a few weeks ago, posted study finds hydroxychloroquine helped coronavirus patients survive better. now, why is jake tapper not spreading misinformation but i somehow am?

again, i'm not a doctor, i didn't claim to be, i just put something out there that challenged the narrative and because i have a large platform, i'm canceled. stuart: isn't it part of a situation here where conservatives are frequently censored on twitter? >> well, look, this situation is particularly hilarious to me because, and most of the time i say yes but here's the deal. with covid and coronavirus, the scientific community still doesn't actually know a lot of things about this virus, so how can twitter make up standards about what is true and not true and only then apply them to, say, don jr. so it is an evolving topic and to say you can't post this video and you can't post that video has to evolve as well, or not evolve at all. it's twitter and there's a lot of things that lap happen on twitter, so i do think it's targeting but the coronavirus and covid, i think that this is particular since the scientific

community is just as clueless as twitter. stuart: okay. we will end it right there. matthew taylor, thanks for coming back. see you again soon. >> thank you for having me. stuart: a related story about tiktok. their parent company is beijing's bytedance. they want to sell a majority stake in that company. susan, what's the valuation price? i know it's huge. susan: $50 billion. that's bigger than snap which is currently sitting at $33 billion. this latest number comes from reuters but there have been numerous reports that bytedance, their early investors are really chomping at the bit to take tiktok off bytedance's hands. it's a hugely popular viral music app, away from its chinese owner. tiktok broke records for downloads the first quarter, downloaded over 2.2 billion times globally at last count and it's expected to bring in around $1 billion in sales just this year. as you know, the u.s. is considering a ban. we just heard from president trump which will be in the play back that he's considering maybe

making a move sometime later this year on national security risks. however, i would caution on these reports that bytedance, yes, it's the world's most valuable startup at $140 billion, but they have bragging rights here because they are the only chinese company that has been able to crack the u.s. market. you think they are going to give that up that easily? i don't think so. history has shown they are wresting apps away from original ownership does not work. think of myspace and tumblr and how those failed. stuart: the president did say he's looking at tiktok, i think. looking at it closely. susan: looking at it closely. again, don't you think if you have bragging rights, you have that above every other chinese company, are you going to give up your big money maker in the u.s. that easily? stuart: understood. but is it worth $50 billion, a majority stake in the company, if they are banned from the united states? susan: okay, no. if they are banned from the united states, no, they are not worth $50 billion. i think people are playing it that the entire blanket ban is not going to happen, especially when you have so many users and it's so popular in the u.s.

stuart: you're right, but to me, it's just extraordinary that the expression 50 billion should appear out of nowhere for something like tiktok. i can't get my arms around it. you've got a global market and i can't quite wrap my arms around that. haven't got used to it yet. susan: let me ask you this quickly. we have that big tech hearing at 12:00 noon today and i was just listening into your last interview. don't you think that the tech ceos are a little more insulated with four of them there? that's what they wanted. they didn't want individual questioning because if you take a look at bill barr yesterday, he takes all the heat from the subcommittee but if you expand it over four, that means you have more cover. stuart: i think you are absolutely right. it was a show of force by the government to bring them all in, but all four of them together gives them sort of collective security to some degree, maybe. susan, thanks very much indeed. next case. it appears that democrats were not very comfortable letting attorney general bill barr speak at his own hearing. but we will let you make that

judgment. roll tape, please. >> reclaiming my time, mr. attorney general. >> reclaiming my time. >> reclaiming my time, mr. barr. >> reclaiming my time without political bias. >> reclaiming my time. >> reclaiming my time. stuart: reclaiming my time without political bias. got a lot more of that for you coming up soon. another look at gold, please. it's done very well recently. nearly 2,000 bucks an ounce. my next guest says this is a once in a generation buying opportunity. however, please remember our guest is a gold miner. we'll be right back. ♪ the new house is amazing. so much character. original crown molding, walk in closets... we do have a ratt problem. ♪ round and round! ♪ with love we'll find a way, just give it time. ♪ at least geico makes bundling our home and car insurance easy. it does help us save.

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stuart: here is the president speaking to reporters just moments ago. listen in, please. >> -- the courthouse very well secure. we have done a fantastic job. we hear all sorts of supports [ inaudible ]. we told the governor, we told the mayor, secure your city. if they don't secure their city soon, we have no choice. we're going to have to go in and clean it out. we could do it very easily. we are prepared to do it. they need to clean out their city and do their job and get rid of the anarchists [ inaudible ]. that's what they are. they're not protesters. they are anarchists and agitateors. we have many in jail, many of them have been put in jail.

it's going to be a long sentence. they need to clean out their city, do it right or we're going to to do it for them. would you like to say something about that? >> as of now, we're very far apart. [ inaudible ]. >> we want to work on evictions so people don't get evicted. work on payments for people and the rest of it, we really don't care, we want to take care of the people. the democrats aren't taking care of the people. the payments aren't enough. the payments aren't enough. you understand that. they're not making the payments high enough. the democrats are not taking care of the people. nancy pelosi takes care of

herself but she doesn't take care of anyone else. look at what's going on [ inaudible ]. with schumer and pelosi [ inaudible ] take care of the people. in the meantime we ought to stop evictions because that expires very soon. we want to stop the evictions. [ inaudible ]. reporter: are you going to pass a short term bill? are you saying you want to pass a short term bill? >> i didn't hear a word you're saying. reporter: are you saying you want to pass a short term bill? >> [ inaudible ]. >> we want to take care of them now. the rest, we'll discuss later. they want bailout money.

the democrats ran cities terribly. the cities are going down [ inaudible ]. you look at what's going on in seattle. democrat run cities, whether you like it or not, they are terribly run and they are always overtaxed so they tax them too much and they run them poorly. we don't like that. what we want is we want to take care of people. [ inaudible ] most of the country is very well run. you're watching portland, you're watching seattle, you're watching new york where they had a 400% increase in crime. 400%. my city that i love, that i l t left, had a 400% increase and it's unacceptable. most of the country is very well run and republican cities are very well run and it's a shame to reward badly run radical left

democrats with all of this money that they're looking for and cities that throw it away on cities that are poorly run. reporter: what about the fbi money? reporter: are you confident that [ inaudible ]? >> i told you, i read about it, i talked biabout it, colin powe says it's not true. colin powell is not exactly somebody i'm a big fan of. colin powell says it's not true. other people say it's not true. if it were true, i would be very angry about it. you look at russia, russia became russia from the soviet union. they lost a fortune and a lot of people. a lot of people. so i don't know why they would be doing that but i would certainly take that under . president trump: i would spend appropriately. nobody ththat's been tougher on

russia, nobody has been tougher on china, nobody has been tougher on iran than me and it is not even close. everybody knows it. nobody has been tougher on russia, china, or anybody else than me. including our allies, nato, who i got to pay -- stuart: i was getting seasick as the shot moved around all over the place. i couldn't quite hear everything that was being said. we had to drop that. i apologize. president is saying to the big city mayors if you don't secure your city, we'll do it. they are a bunch of agitators and anarchists, and we'll clear it out. that is what he said to the nations mayors. we'll have lot more "varney" after this.

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stuart: 10:00 and the dow jones industrial average has moved up a little bit. maybe because the president told reporters they'rer working on payments for people. the two sides are far apart. we'll take care of the people. the indication, we'll spend government money. up goes the stock market a little bit, nasdaq, nice gain, 82 points higher. another big story, kodak, look at this, moving way up again, 200% higher yesterday. another 160% higher today. i got to tell you we've got the ceo coming on the show very shortly. you got to look at big tech. the ceo's of the most powerful

companies in the world, big tech names, follow them every day. hillary vaughn tracking it all. what are they going to say, hillary? reporter: stuart, we got an early look at the opening statements. here is a brief take from each. we'll hear from amazon's jeff bezos. his first appearance in front of congress ever and he will make the case the pandemic made his competitors like target and walmart, costco even more competitive as consumers go to online shopping and things like curbside pickup. we also face new competition from shopify, instacart, companies that enable traditionally stores to put up an online store almost instantaneously. apple's tim cook will say one of his biggest competitors is google and their development of android devices. that is big competent are h tore for them. sundar pichai will talk about free services, maps and gmail. those are key to keeping main street open and online during

the pandemic saying this, nearly 1/3 of small businesses owners say without digital tools they would have to close all or part of their businesses during covid. lastly we'll hear from facebook's mark zuckerberg who will make the case he should not be the one making the tough call over what type of products and political ads or discussions are moderated on the site. they want one rule from regulators over when and how content gets moderated. we'll hear from that. stuart, this is about antitrust. we'll hear from sources. hear a lot about censorship and accusations over apple's manufacturing footprint in china. stuart: we'll hear a lot of them being filthy rich. that will come up. there will be nasty questions from the left. hillary, thank you very much indeed. this is interesting news. big news, actually. pending home sales numbers, very important for the real estate market. what have we got, susan? susan: very bullish in the month

of june. 16.6% increase in the month of june. that is the second biggest gain on record after may's 44% surge. we know home recovery is doing well after covid. new home sales also did the same. i think it was like a 13-year high because home mortgage rates are doing very well. stuart: mortgage applications were down ever so slightly last week but, lauren, tell me about refi activity. that is a different story, surely. lauren: up 121% from last year as investors try to lock in lower rates and save money on their mortgages. this is positive part of the market. overall mortgage applications they fellas week. is that a sign that perhaps the red hot housing market is cooling off a bit. if you couple that with the size of the average loan increasing you could make the argument some

first-time buyers are stressed economically and the fed has spiked the punchbowl. the low rates juiced the housing market, increased competition with the home prices f you're a first-time home buyer, you don't know what the next stimulus will be, don't know the status of your job, prices are going up, can you continue to afford a home? stuart: good question, i don't have an answer for you immediately. the market seems to like the surge in real estate activity. thanks, lauren. now this. never has the choice of a vice president been so important. joe biden will make his choice within a few days. i don't know who he is going to pick but i do know woman so ever he chooses will exercise far more power than any vice president in generations. biden is 77. if elected would be 78 going into the oval office. he is forgetful, occasionally

seems confused, not focused or sharp. the vice president will exercise power, stated politely, she may be president sooner rather than later. mr. biden has been pulled to the left by bernie sanders. he and alexandria ocasio-cortez have pushed him into the extreme green new deal. if he chooses senator warren as his running mate he goes even further left. if he chooses kamala harris other any other black woman he will be wading right into identity politics. who is really running this campaign? seems like joe biden is reacting to and appeasing his badly split party. maybe he has to go with senator warren to keep the socialist wing own board? maybe he has to go with kamala harris to secure a big turn out of african-american voters. it is not totally his campaign. it is not centered entirely on him. he is at the top of the ticket, but like never before he has got to share the limelight, share

the attention and if elected share the power. this is truly an election like no other. by the way, "politico" may have jumped gun. they reported that joe biden chose kamala harris as his vp. lauren, they took the post down, what more do we know about this? lauren: i don't know if it was real or a head fake, stuart, but i can tell you they published the article. it was dated august 1st, joe biden picking kamala harris as his running mate. there is a quote, she brings her experience as prosecutor, household name recognition and skill as a debater to the ticket. the "politico" said the article was a placeholder t was published as a mistake. they took it down. on the same day, app photographer joe biden's notes on kamala harris she may be number two.

part of notes, do not hold grudges. harris attacked biden last year on the primary debate on opposition to federally mandated schools desegregation busings. she made amend, she endorsed him and campaigned for him since march. she has household name recognition. she is a good debateter. stuart: we just don't know. we just don't know. we can place our bets so to speak. thanks, warren. bring in liz peek. come back in again. good to see you again. >> good morning. stuart: do you agree with me here that this is the most important vice-presidential pick in generations and whom so ever he picks will be extremely boyarful? what do you say about this. >> there is no question, stuart. we know joe biden can't handle a lot of give-and-take with reporters. he isn't really doing many in-person public events.

that is going to leave the stage very open to whoever is his number two. there is a lot of speculation that joe biden won't make it threw four years because of his various issues with cognitive deterioration. there is possibility, likely possibility, whoever the vp is will be the next president four years later. generally speaking presidents, or parties get two terms. yes, i think it is incredit boy consequential pick. i do think biden has got himself into a corner. i think he absolutely has to choose a woman of color. that is why we're talking about kamala harris. stuart: it will almost be a vote on the vice president in november, as opposed to just on joe biden? >> i think's true. i think voters have to assess a lot of things. right now joe biden is running as a blank slate. because he is not out there very much and because the progressive wing of the party has taken such an incredible lead with democrat

agenda-setting. we've seen that with so-called unity platform between sanders and biden and also with the very big role being played by elizabeth warren, you know this is the group that is in charge right now, joe biden what does he stand for? he is supposed to be a moderate. stuart, if you look at the various bills that he has put out there, the platform he put out there, there is nothing moderate about it. i hope voters are paying attention to this and particularly paying attention to the outside chance that the democrats take the senate because there is a whole wish-list of progressive priorities that are barked up in the house that could go through the senate if that happens. i honestly think the country would never be the same. stuart: i think it is called election risk. we've spoken about it many times. liz peek, thank you very much indeed. see you soon. >> thank you. stuart: back to the market. we moved higher. maybe it was something to do with the president saying we

would spend money. he didn't say it in those words but he basically implied that. we're up 70 points on the dow. ed yardeni is with us. can you answer me this question, ed. we have contentious hearings coming up in a couple hours, yet the tech stocks and their executives who will be talked to today, those tech stocks are up. why is that? >> well, congress, washington threatened antitrust moves against the big tech companies before. it has been kind of the chatter in washington, d.c., for what about, two three years now and nothing really has come of it. i think the perception these are really huge companies which is why they're looked at. they have tremendous amount of firepower in terms of lobbyists and look, i think they actually will make a case there is competition in technology. we always look at some of these big companies so you know, they're taking over the world but there is always up starts

that you know, come out of nowhere. so i, i think there, investors will say they're going to be fine. stuart: i agree. because you know, they are the crown jewels of american business. >> correct. stuart: if we start talking about taking them to pieces or reining them in, you will do damage to our economy. i don't think people really want that. i think -- go ahead. >> that is reflected in the stock market. 25% of the s&p 500 market cap is accounted for a handful of these big tech companies and sew you're absolutely right. they're the crown jewels. stuart: thank you. i glad you got my endorsement on that one. ed i can't remember denany, thank you again. see you soon. look at kodak. what extraordinary ride they're having after getting 765 million-dollar loan to make

key drug ingredients. the stock is up another, keep looking at this, amazing, it is up another 240% now. it was 200% yesterday. that is quite a performance. 27 bucks a share on kodak. the ceo joins us later this hour. baseball, on the brink. miami marlins taking a break to deal with the virus outbreak. 15 players infected. is the entire baseball season doomed? i will ask a former player turned physician, dr. mark hamill ton all about that. he is in the next hour. how owning a home put one black family on the trajectory to success. we'll bring you the success story after this. ♪ hey, can i... hold on one second... sure. okay... okay! safe drivers save 40%!!!

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home in the first quarter of this year. welcome to the program. i want you to shea your story with our viewers because as i understand it, your great-grandmother purchased a house way back, 1936 and established your family's success. take me through it, please. great story. >> thank you so much. that is correct 1936, my great-grandmother who was widow with four young boys, purchase ad plot of property with home on it in hillsborough, north carolina for $500. that one decision has affected the family. we've all been homeowners. followed her example. we all been to college. the equity from that one purchase powered my family forward. stuart: that is a wonderful story. duplicated many times forward.

joe biden wants the federal reserve wants to address the wealth gap, the racial wealth gap i should say. what could they the federal reserve, what could they do? >> i think first and foremost keeping interest rates low so that those who do qualify for a home mortgage are able to do so, to afford and buy a build a home that is very important, especially in this climate. working with the treasury and hud to support existing legacy down payment. what i mean by legacy down payment, friends and family able to gift you thedown payment and non-legacy down payment such as my company, will give a down payment for you when mom and dad are not able to bridge the gap of wealth disparity. stuart: that is terrific idea. that seems obvious to me. why can't someone donate money to a perspective home owner to get them into the home, with a down payment? who would object to that? >> well existing guidelines say that your family can gift you

the down payment, which is wonderful if you come from a family that has the means to do so but unfortunately within the our minority community that is not the case more times than not, asking mom or dad for $10,000 for a down payment is very difficult within the black and brown communities. that is why our program like the chenoa fund, will provide down payment for those that don't have the familial means from to their children. stuart: that's ma great story. tai, thank you very much. come back soon. back to the market. we're up 79, nearly 80 points on the dow industrials, 26,458. look at starbucks, they estimate what, they lost $3.2 billion because of the virus. the stock is up this morning. it was three, four% earlier. up 5% now. they will do curbside pickup at

up to 1000 stores. that is a new kind of business for starbucks. the market likes it. >> blue apron is higher this morning. stronger profits because more people are working from home. however the stock is down 10%. still at 12.65. it was 2.28 back in march. its is down 10%. we'll come up with a reason for that shortly. amc theaters, movie people, they have a deal with universal. allows new films to be played in theaters for 17 days. then after that it can be released on streaming services. amc's stock down nearly for%. netflix, here is a story. they snagged 160 emmy nominations. it shows nominated included the "ozark," the can minutesky

method. up $2 on that news. spotify, where is that now? down one, nearly 2%. what is this about artist paying fees to gain more exposure on spotify? is that a scandal, susan? susan: you have to pay to get noticed. there are too many artists and too much music out there. "rolling stone" did an in-depth investigation, saying up to $2,000, paid by a new artists to get 100,000 screens for his song. it is tough to get people to listen. the spotify ceo said more than 40,000 new songs are released each and every day on the streaming site. that number is higher this year. another avenue for performers to develop a fan base is tiktok. we talk about it this morning. marketing campaigns on tiktok is 250-dollars. you can go up to $4,000, to pa playlists of one million. tiktok, spotify, apple music,

pandora, those are the main players deciding the future music stars and number one hits. stuart: that used to be called pay-to-play. it was a scandal back in my day. susan: thanks have changed. stuart: why is spotify down so much today? any idea? susan: the reason is they took a bigger loss in the quarter. we're talking about nearly $300 million in losses but there is some good news here. this loss was accounted for because of higher payroll taxes they had to account for in the quarter but the underlying business is looking pretty good. we had more people streaming, more listeners coming online, more paying subscribers. that is a benefit for a company like spotify. stuart: let's not forget investor greg smith think it is going to $400 a share and that spotify is the next netflix. but it is down today. pitter airlines, some staff could face furloughs. how many employees, lauren? lauren: lauren: the first low-cost

carrier to detail job losses when the aid package expires in october. 20, 30% of pilots, flight attendants and other workers may be set furlough notices. the unions will be informed on friday. you know, they have 9,000 workers at spirit. so we're talking about 20 to 30% of that. stuart: okay. spirit airlines, down just a fraction today. that is nearly 2%, however. $16 a share as we speak. the airline trade union not too optimistic about the travel industry bounce back. did you cover that, lauren? am i going back to you? lauren: this is ugly, stuart. the international air transport association, they say that air traffic won't recover to 2024. they pushed it back by a whole year. they're blaming three big problems. level containment of the virus here in the u.s. and other countries. anemic international travel, that was a mooney maker. and low confidence among passengers.

when you put that together, people will not fly anytime soon. stuart: i would love to go visit my kids in new zealand and australia but i can't comeback. texas congressman louie gohmert tested positive for the virus. he was scheduled to fly down with the president to texas today, but obviously he will remain in washington. representative jim jordan, jerry nadler sparring during attorney general barr's hearing yesterday. watch this. >> i don't want the time. i want the attorney general to be able to have enough time to respond accusations and questions asked him and you guys not cut him off. >> what you want is irrelevant, irrelevant to the rules. mr. stuebe is recognized. stuart: there is more where that came from. tensions between barr and house democrats clearly boiling over. you will hear more of it coming up. senator marsha blackburn pushing the nba to get tough with china. she will tell us what she wants

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stuart: still in the green but marginally so. exempt for the nasdaq composite up over 1%, better than 100 points. technology doing well. advanced micro devices. that is a tech company, we're calling them a lockdown winner. they report revenue up 26% in the second quarter. they have raised their full-year revenue forecasts. the stock is up 11%. intel is in trouble. amd comes in and does very well. the stock is up at $75 a share. boeing, that has turned around. they opened higher. now they're lower. they lost $2.4 billion. slow aircraft production because of of course the pandemic. look at that drop, 3% down. 165. general motors, 758 million-dollar loss. they blame factory shutdowns. again obviously because of the virus, the stock is back to $25 per share. gm is worth a tiny fraction of test tesla.

itch got amount of money over storage, how much we used, what have you got, lauren? >> oil is up 1%. this is big draw in oil inventories last week. down 10.6 million. we thought it might have went down a lot because we got other data showing a very big surprise drop. it happened again down 10.6 million, cordtoring the energy information agency. you remember ashley did some fred astaire tap dancing but. stuart: demand is strong for oil. up goes the price. $41 a barrel. it is peak driving season. the national average for gallon much gas is $2.18. that is the national average. jeff globing coming to us from a gas station in indiana.

the gas price doesn't go up until demand really returns. what is it like where you are? >> it had been returning, stuart. those numbers that you, lauren just gave you, those are big news. that would indicate demand has risen again. but last week demand for the first time since the pandemic started was down. that really had a chilling effect on gas prices. you see this one here, 2.18. seven cents below the national average. you always want to know where it is cheapest. we're getting down there in places like mississippi. cheapest gas in the nation at $1.83. louisiana at 1.85. arkansas, texas, a few pennies more. biggest drops last weekend was because of last week, demand being down. michigan dropped five cents, here in indiana, down four cents. that news that you just reported should be big news for oil, should rise the price of oil but unfortunately the bad piece of that, may force gas prices up

little too. stuart: just a little, jeff. reporter: it is cheap when it comes to gas. stuart: you used the word cheap in same sentence as me. you're right. gas prices right now are very, very low, historically speaking. $2.18 a gallon. dirt cheap. jeff flock indiana. >> a few more pennies. stuart: i can afford it. the nba getting ready to tip oaf the season, tomorrow it happens. the league is getting pressured over its ties with china. tennessee republican senator marsha blackburn joins us. you, what are you demanding of the nba about its ties with china? >> stuart, i had written to adam silver and got a response last week pleased that they have cut the ties with the training facility in in in china, that they are tied closely to china tv around alibaba. i think what they should do, as

they begin the season, create a foundation, put a portion of the chinese-made profits in the foundation to support human rights abuses. the uyghurs, hong kong freedom fighters, fines they collect during the season. they should put it into the foundation to do some good wit. because if they don't break their ties in beijing, in 10 years, you will see them be the national beijing association because beijing and chinese communist party wants to take all things american, create a chinese version of it. stuart: is there any chance this foundation will be established? >> i don't know. that is a question for adam silver what they ought to do with this money they are making off the chinese marketplace. look when you're doing business in china, you are working with the chinese communist party. what we know is, xi xinping has turned into a very aggressive

proponent of the china 100 year marathon, of having the 21st century be the china century. look. they took our jobs. they sent us this virus. it has been about six trillion dollar hit to the u.s. economy. they need to be held to account and companies that are doing business in china, have got to start unraveling their relationship with the chinese communist party, and these business entities that the chinese communist party controls. stuart: take a hard-line on china, senator. for the benefit of our viewers. i want you to listen to the way democrats spoke to attorney general bill barr in a heated hearing yesterday. roll tape, please. >> i gave instructions as to what -- >> reclaiming my time. >> i'm answering your question. >> you have got to let him answer. >> reclimbing my time. >> the effort there was -- >> i asked foreyes or no. let me tell you, i'm starttoring lose my temper.

>> mr. barr, i will get to that. reclaiming my time. you answered the question. i have another question for you. >> shame on you, mr. barr. >> can i say,. >> shame on you. my time expired. stuart: any comment on the treatment the attorney general received there? >> i got to tell you when my children were little they used bad manners, i would say you're appearing to have graduated from rude school, maybe we need to put you in manners camp. i think it was just horrendous. the democratic party is better. there are men and women who are better than to have conducted themselves in such a manner. i can not imagine what the press would be today if republicans had conducted themselves in that manner. bill barr is the attorney general of the united states. he is there to serve the american people, which he does, with honor and integrity.

the way they conducted themselves yesterday was absolutely abhorrent. stuart: i will leave it at that. senator marsha blackburn, republican from tennessee. >> thank you. stuart: very much so. thank you. vice president pence weighing in on the perils of mail-in voting. watch this. >> what you see across this country in democrat-led states is an effort for universal distribution of ballots without the accountability that you have with absentee balloting. the entire ability for widespread is very real. stuart: in my opinion, there is no way we get election results on election night with extensive use of mail-in ballots. i call that election risk. you will hear what martha mack has to say about it a little later on this program. president trump, touting his new deal with kodak to make key drug ingredients. watch this.

>> today i'm proud to announce one of the most important deals in the history of u.s. pharmaceutical industries. might have administration has reached a historic agreement with a great american company. stuart: yeah the stock is absolutely skyrocketing. again, it has just been halted by the way. it is up 500%. then it was halted. 50 bucks a share. how did a formally camera company become a pharma company? well, the ceo is on the show next. ♪ it's easy to get lost in the economic uncertainty. the volatility. the ambiguity. this moment calls for more. and northern trust delivers more.

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stuart: ladies and gentlemen, you are looking at a sensation. the stock price of kodak. $53 a share as of right now. a few days ago, literally a few days ago, it was $2 a share. never seen anything like it. 50 bucks higher, just like that. guess who is with us right now?

perfect timing. the ceo of kodak, its executive chair, jim continenza. sir what kind of extra business are you likely to get with the deal from the administration, that justifies the explosion much your stock price? >> good morning, stuart. i'm not going to speculate on the stock price. i don't do that but look it, we're here to make, ks m&a pi and help fight the pharmaceutical blockage in the u.s. and the lack of supply. so we're really here for the right reasons. i don't speculate on the stock price. stuart: ignore the stock price. but the market is telling us that you're going to have a huge extra amount of business. are you going to take over the supply of basic drug ingredients and take it over from china? is that the goal? >> we're not taking, we're not taking over but we will supply

about 25% of the small molecule ksms and apis, which is key starting materials and active pharmaceutical ingredients for the u.s. supply chain with other partners. stuart: what is 25% of that market worth? can you give me a dollar number there? >> i couldn't right now speculate that. stuart: but you're going to get, you're going to try to take 25% of the small molecule active ingredient market. that is pretty nice chunk of money. can you do it? because, i think of you, the maker of chemicals that used to go into film, that kind of thing. can you turn around real fast and get into the production of these small molecules? >> that is a process of films is quite similar. we're currently making unregulated key starter materials already. we've been doing it a couple years, for a few years. we're doing it already. we have can get into it. we're proving it out, expand to

a large sale, moving from batch manufacturing to, utilizing buildings within eastman business park. adding additional capacity to rammed up the volume. stuart: did you go to the administration, we can do this, this, and this, give us some money. >> no. i think it was kind of mutual. when the pandemic hit, stuart, what can we do? we started making hand sanitizers, face shields. we did printed circuit boards for ventilators. that got us into the context how we can help with the pandemic. we were working working with anr partner with the government. they were going to start making them for this particular partner. that got the introduction. meanwhile the government can look at this, dr. navarro's group, kodak was on the list. the two things were met and married. stuart: sir, congratulations, that is astonishing performance of your stoke and your company,

what a turnaround for what you're doing up there in upstate new york. sir, it was great to have you with us. perfect timing. your stoke is now at $47 a share. i'm sure you don't mind. jim continenza, thank you for being here. >> thank you, stuart. stuart: talk about good timing. amazing. we're following the tech titans ahead of their testimony to congress later on today. congressman greg stuebe, republican from florida. he will be at the hearing. he wants to break big tech up. does he? i'm not sure about that. but i wilt ask him. what does he want to do? he is on the committee. he will be asking questions. we'll ask him. two new jersey gym owners arrested for defying state lockdown orders. they say they will not back down. watch this. >> i'm not afraid of tyrants and no american should be, because, we out number them greatly. the only thing that they run off of is fear.

which is why you see what you see in the media where they're pumping fear into the coronavirus when what they should be pumping is solution. stuart: they're on the show in a moment. what is the status of their business. can they stay open? they're on the show after this.

stuart: what do you think the response is going to be? likely to be arrested maybe? >> that is certainly a possibility but we consulted with our legal team early this morning. they have been reviewing the orders posted. so they told us to go ahead and open. we will, we'll deal with the consequences at this point. stuart: consequences were they were arrested and those two gentleman are back with us today, ian smith, frank trumbetti. ian, to you first what is the status of your business as of this morning? are you still in business? >> we are still in business although governor murphy constructed a plywood barricade over our doors. stuart: are you going to keep, frank, are you going to keep getting arrested? >> if mr. murphy has his way, yes. bottom line we'll go back to business. we're putting a plan together, retooling. we think this is a great injustice not just us but to the

community in general. they have, they are not practicing equal application of the law in any way whatsoever. they're picking and choosing who the winners and losers are in this situation and it is insane. we need to keep fighting. we need other people to keep fighting. with need to bring the light, governor who woman who needs no introduction more phonessable for things they have actually have done, all the deaths occurred in the long-term care facilities. i asked the question, governor murphy, why did you start recording the deaths in long-term care facilities on june 23rd. on that day 57 people in new jersey died. 50 in long-term care facilities. only seven out of the other nine million people. just so happens the next day, there is actually a task force, j.t. f army covid-19 task force was put into the long-term care facilities to track the numbers, keep track of the data.

on june 20 fourth that task force was disassembled. they have not updated numbers since. i truly believe that more people are dying every day still in those facilities than are dying out of the nine million people out here in population. stuart: let me jump in for a second. ian, when you were open, people were using your gym, what safety precautions did you take? >> we put together a 15 point safety procedure, starting at the door, as soon as people walk in. they walk in front of a biometric scanner that takes their temperature. so it's a touchless system. they stand in front of it. anybody who was 100.4 or higher was not allowed back in the facility for 72 hours. we have a no touch sign-in system where each person take as clean pen, fills out a health questionnaire with questions whether they have been in contact, whether recently tested, whether they have had symptoms. they record the time of their

entry, market with a signature gate and also their temperature. hand sanitizer at the door. each individual who walks in the facility gets their own spay bottle which is cleaned beforehands. we have ecolabs disinfenn tant proven to kill coronavirus in 30 seconds on surfaces. the entire thing is spaced out. everything is six feet apart. stuart: you took the precautions. >> we went above,. stuart: you went above and beyond, still shut down and arrested. i got to leaf it there. i want to follow up own this, see what happens to you guys, ian smith, frank trump betty. you. >> thank you very much. see you on sat stay. stuart: you got it. lauren, do people wear masks while they are working out? are we buying more home equipment. lauren: a lot more home equipment because our habits have changed over the past four months. we're comfortable working out at home.

we invested in it. i want to show you pretty big numbers. this comes from ebay. dumbbell sales rose 2,000% versus march and april last year. weight sales, 1300%. ameritrade, said 59% of people will not return to the gym, saving themselves $2100 a year on gym memberships and fitness classes. you look at some of the winners like peloton. it is up 3% again today. wedbush says peloton will continue to outperform even after the pandemic. so, it is a tough time for gyms right now. it should continue to be. as for wearing a mask, while working out, i've seen people jogging with masks on. i think that is pretty impressive. i don't like to wear a mask when i work out, if i work out. but some people are fine with it. stuart: try to get your kids to keep the mask on if and when they go back to the classroom. probably not going to happen. susan: impossible here. stuart: virus outbreak forcing

the miami marlins to put their, put the team, their games on pause. is this going to bring down the entire plan for the 2020 season? i'm asking are former baseball player and physician, dr. mark hamilton. he is coming up. also ahead brian brenberg on the next stimulus package. it is going to be gigantic. i think the fed will print money for years. that is my opinion. we'll hear what he have has to say. martha maccallum on the left push for mail-in voting in november. i think that is huge election risk. we're covering it. tech titans facing a grilling. i call the companies crown jewels of american business, leaders in technology. policymakers want to real them in. my take on that is next

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stuart: it is 11:00 and we've got a modest rally on our hands for the dow, up 88 points. solid rally on our hands for the nasdaq. it is up over 1%. that's 115 points. technology is doing well. here's the stock of the day. kodak. unbelievable. wait a minute. just a few moments ago, it was $53 a share and the stock was halted. we then interviewed the ceo just literally minutes ago, and now the stock is at $28 a share. gone from $53 to $28 in our interview with the ceo.

maybe it's because the ceo would not speculate on how much business he would take from the chinese. maybe that's what did it. not sure about that. but essentially, we've got a spike and a selloff in just a matter of minutes. now this. one hour from now, big tech testifies. don't expect a tobacco moment, remember that? it will be a virtual hearing, not face-to-face. not face-to-face combat, i should say. but it starts the debate on the power of four giant companies, apple, amazon, google and facebook. they are leading america and the whole world into the digital era. they have computerized business. together, they are worth nearly $5 trillion and they have between them $434 billion in cash. now, that is real power. and now comes political

pushback. they are accused of abusing their near monopolies, playing fast and loose with our privacy, acting like big brother and as far as the left is concerned, being unconscionably rich. what to do with them? do you tax them? do you tie them up with new regulations? you break them up, do you? confiscate the wealth of the super-rich, jeff bezos or mark zuckerberg? all of the above, all those ideas are on the table. i doubt that anything happens in the immediate future. these guys have enough money for lawyers and lobbyists to delay serious change for many, many years. but look, isn't it interesting that these four companies which i call the crown jewels of american business, should be under attack? they are american winners on the global stage. they have established clear american leadership in technology and we want to break them up or rein them in? remember when the clinton team went after microsoft a generation ago? that set back that great company

for a decade and more. now, yesterday, we saw extreme political theater when attorney general bill barr was attacked and insulted by politicians who wanted their sound bites for their campaigns. watch this. >> when protesters with guns and -- >> i am aware of protesters in the federal government -- >> this is my time and i control it. >> let me explain it had been planned all day. >> attorney general, the time is mine. we've waited a long time for you to come here. the time is mine. >> you've waited to talk to me like this, you didn't need to wait so long. >> could we take a five-minute break, mr. chairman? >> no. stuart: how about that. you may see something similar today. a lot of posturing. but don't let that detract from the importance of this moment. we have to decide how we are going to treat the most powerful and richest companies in the world, and the public debate starts today. by the way, you can watch it

right here on the fox business network, about one hour from now. i want to talk about stimulus, okay? because that's very much in the news. we've got congress looking at a stimulus plan of $1 trillion. i think it will be more. and the federal reserve is printing a lot of money. brian brenberg is with us. let's talk big picture, brian. have you any doubt in your mind whatsoever that the fed's going to keep on printing forever, certainly for years, and the government's going to throw in more than $1 trillion into the economy? that's gigantic stimulus. any doubt that it's going to happen? >> yeah, there's no question about the fed. they've essentially said the monetary spigot is open and it's going to be open as far as the eye can see. my big concern, aside from that policy which, by the way, is really revolutionary, my big concern is on the fiscal side with congress. i cannot believe that we are talking about potentially

another $3 trillion stimulus, and you know we're going to get something close to that because the republicans' opening bid was $1 trillion. so this, by the way, this is not a one-time thing. let's be clear. we're nout tat talking about a one-time stimulus. it's the fourth or fifth, depending how you count -- stuart: but look, wait a minute, brian, you're coming at this as an economist. fair enough. but this is entirely political. of course they're going to spend trillions of dollars because there's an election in three months' time and both sides think it's in their interest to chuck that money out there. it's politics, isn't it? >> yeah, but that doesn't mean it should be. i don't have to agree with that. i don't have to want it to be that way. by the way, the republicans are miscalculating here, stuart. if they think they're going to spend their way to electoral success, they are in for a rude awakening. they can never outspend the left liberal progressive agenda of

alexandria ocasio-cortez, sanders, warren, you're not going to win that game. my fear right now is they are actually trying to play it. their opening bid was another trillion. that suggests to me they have no desire to stand for a growth agenda. they want to stand for a spend your way to election agenda. it simply won't work and they've got to change tack or they are going to be in for a drubbing in november because there is no reason to vote for them if this is where they stand. stuart: all right. let's move on to an area where i'm sure there is agreement between you and i, and that is liability protection for businesses. listen to senate majority leader mitch mcconnell. roll tape. >> no bill will be put on the senate floor that does not have liability protection. the goal is to eliminate the prospect that one could make more not working than working. stuart: are we in agreement on this, brian? absolutely vital, liability

protection? >> yeah, we're ar're in agreem it and there's no way any bill should get passed if this isn't in it. talk to business owners, large business owners, small business owners, all of them say the same thing. i am deeply concerned about opening my doors and having employees or customers come in and ending up on the hook for an illness they may contract. it's just impossible to figure out if they are truly liable as long as they're taking reasonable steps, there is no way they should be on the hook. this has to be in the bill, stuart. it's one of the few pro-growth things that senate republicans actually offered here. if it's not in the bill, the bill has almost nothing to redeem it. stuart: okay. dramatic stuff from brian brenberg this morning. what did you have for breakfast? all right, brian, thank you very much indeed. see you again real soon. thanks. next, going to put some stores up on your screen. okay, retail stores. they are running out of change. okay. people are going out but they're not using cash.

the u.s. mint is asking for help to get more coins back into people's hands. ed moye is with us, former director of the u.s. mint. ed, let me go straight at this. what do we need pocket change for any longer? hardly any of us actually uses cash anymore. >> well, you and i probably don't use much cash these days, but there is a significant number in the population that is unbanked or lower income, where cash is king. and they need cash to survive because they don't have credit cards, they don't have bank accounts. so change is really important to that segment of the population. stuart: do you think it's worth getting rid of the penny and the nickel, perhaps? >> you know, there are a lot of countries that have gotten rid of that in a larger context called currency reform, where they get rid of their lowest denomination coin, which would be the penny for the united states.

they promote and use a higher denomination coin like the dollar coin and get rid of the lowest denomination bill. that usually saves a couple hundred to maybe half a billion dollars of printing and manufacturing costs each year. stuart: okay. sounds like a good idea to me. >> yes. but you know, it requires an act of congress and you can't get them to pass a budget. so don't expect any changes in currency any time soon. stuart: glad you added that one. while we have you, as former director of the u.s. mint, i want to talk gold. terrific runup in the price, close to $2,000 an ounce. goldman sachs says it's going to $2300 an ounce within a year. do you have an opinion on the price of gold and why it's up so much? >> so your conversation prior to this, the monetary stimulus

dovetails into why gold prices are reaching new record highs. i was director of the united states mint when gold prices hit its last high and the same factors that drove gold then are pushing gold today to past $2,000. i believe in the goldman prediction. it's mainly two big reasons. the fear of inflation from unprecedented amounts of monetary and fiscal stimulus with no clear plan to unwind, then there's also uncertainty of how and when the u.s. and global economies will recover from this pandemic. so those are the two big factors that are driving it. then there are two smaller factors that your viewers might be interested in. that is the deteriorating relationship with china and they buy a significant part of our debt which helps fund all this fiscal spending, and i'm not sure how crazy they are going to be continuing to support the

united states in this way, and then there's civil unrest in our country which also puts out questions on the u.s. reputation for being very stable. both of those have played into the lowest dollar in my memory. stuart: you make a strong case, ed moy, former director of the u.s. mint. thank you very much for being with us today. please come again soon. >> good to be back with you. stuart: come again soon. thanks very much indeed. i'm going to go through some earnings reports. first of all, general electric. known as ge. revenues down across the board in all their different businesses. energy and renewables getting a little bit of a boost but the stock is down 4%. ge still languishing at six bucks a share. general motors lost close to $800 million in the quarter. that's compared to a $2 billion profit same time last year. the stock's down 2.7%. look at it, $25 a share on general motors. six flags, theme park people, quarterly revenue down 96%,

obviously because they were closed. they only brought in $19 million in revenue. the stock is down again nearly 5%. spotify, their paid user base grew by almost 30% last quarter, but they still lost a whole bunch of money because of the virus. and all that spending on some top tier podcast deals. the stock is now down 2%. the miami marlins will not play another game for a week. 17 members of the team reportedly test positive for the virus. there were only 60 games to begin with. can the season last that long? going to be truncated. we will discuss it in a moment. lawmakers slam attorney general bill barr for using federal troops in portland, claiming protesters mean no harm. his response on that is coming up. first, 97 days to the election. as states turn to mail-in ballots, i say there's no way we

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fox news coverage, i don't think you are going to go away that night with a firm result. i just can't see it. >> well, we didn't last time around either. we were here all night and i expect that it will go on probably for days. it's interesting, there's 32 states that have a requirement that your ballot be received on election day or prior to election day, but still, obviously it's going to take time to count those ballots, stuart. in many of these states, we see a new york congressional election that was held in june where they're still trying to figure out who the winner is based on -- or july, rather, based on some of -- accounting

of these mail-in ballots. i agree with you, i think there is a recipe for potential disaster here as we look at this, and you also have to, you know, sort of encourage people to get these ballots as soon as they can, if they do plan to vote by mail-in and to get them mailed in as soon as they can, and i don't know that everybody, you know, their head is there at this point in the middle of july. stuart: i think it's a lawyer's charter. there will be challenges all over the place, wrong signature, lacking a signature, wrong postmark, late postmark. >> absolutely. that's what's going on in new york. they had to throw out one in five ballots. they weren't effective. stuart: and throwing out of those ballots was heavily concentrated in minority districts. so you've got race coming into this as well. what a mess it is. i do want to talk to you while we've got you, want to talk to you about the big tech hearing that starts in about an hour. it's obviously very important to the financial community. we're paying attention. but you tell me, is the rest of

america watching this? >> you know, i think to a certain extent they are. it harkens back to the times of monopolistic investigations that we've had throughout the course of technology, ibm was in i think a five to ten-year lawsuit over monopoly back when they were the king of tech, then you had bill gates as the last leader of this magnitude to be hauled before a committee to discuss the same thing. i think there's a lot that is, you know, even their technology is something we all use every day, stuart. there's still a lot of mystery there for a lot of folks who follow this, but the main two issues are going to be whether or not this is a monopoly so for example, in amazon's case, there's an issue with whether or not they use their own sellers' data to try to create their own products to compete with those sellers. now, that's an issue that would be very close to the hearts of anybody who's in business and selling their products on amazon. the other big thing that you're going to hear a lot about today is whether or not there is

censorship on these platforms and whether, you know, you look at the story from this week, president trump retweeted a video of doctors talking about hydroxychloroquine and whether or not mask wearing is effective. it was sent out originally by donald trump jr. and then he retweeted it. that was taken down. they were temporarily limited in their ability to use twitter because of that. now, whether or not those doctors are speaking the truth and science, that's another matter but the fact of the matter is that if you want to post something like that, you ought to have the freedom to do it based on your own understanding of what's being discussed and why you think it makes a good point. i think you're going to hear a lot of this discussion at least by the republicans in the room today pulled in that direction. stuart: i would bet big money that at 7:00 eastern tonight, you are going to be reporting on the left really going after jeff bezos, because he's the richest person in the world. that's going to be -- it's not going to be -- i'm not dictating

your lead but guaranteed you will be talking about that. >> yep. thanks, stuart. nice to see you. stuart: see you at 7:00 tonight. thanks, martha. another look at some individual stocks that are moving. avis, rental car people up, what, about 2%. they say that people are getting out more and rentals are getting back a little bit towards normal. i think the rental car companies are in deep trouble during this pandemic with competition from uber. spirit airlines, they are going to tell the unions to be ready for a round of layoffs. furloughs, i should say. that's the expression. maybe 30% of the work force, that's a very big number. the stock is down nearly 2%. boeing, now, this is a big drag on the dow. it's costing the dow about 50, 60 points at the moment because it's down nearly 4.8%. they say they are going to slow production of their flagship aircraft. the stock's down eight bucks. that hurts the dow. without boeing, we would have a

very solid rally on our hands, would we not. better get back to kodak. where is it now? all over the place today. it went to $53 a share, then we interviewed the ceo, it went to $27 a share. now it's $33. hey, lauren, was that drop, that selloff, because of the interview we did with mr. continenza? lauren: yeah, he said he wouldn't quantify for you, you asked him directly the size of the business that kodak is taking from china, only to say that the company is producing about a quarter of the ingredients used in generic drugs. the pandemic has sparked a new lifeline for kodak. listen. >> when the pandemic hit, we were like what can we do. we started making hand sanitizer and face shields and circuit boards for ventilators. the next thing that got us within the context of how can we help with this pandemic -- lauren: now they have this loan, they will help lessen our

reliance on china for life-saving medicine. the stock is up about 500% this week. stuart: this week, 500%. 300% today. lauren: the last two days. yeah. stuart: what a story. just amazing. we have news on tiktok, the popular social media app. got that. tiktok. their ceo, former disney guy, just called out facebook. now, this is ahead of mark zuckerberg, facebook guy, his testimony before congress. what did the tiktok guy say, susan? susan: well, tiktok's new american ceo, kevin mayer, just accused facebook of using patriotism as an unfair way to attack the chinese-owned consumer app. he also slammed facebook's efforts to build copycat apps that look exactly like tiktok. instagram reels it set to launch next month. facebook is reportedly offering hundreds of thousands of dollars to lure away some of tiktok's top influencers. tiktok has taken the world by storm, breaking records for app downloads in the first three months of this year and it has a

younger user audience, social media that they covet including 70% of 10-year-old girls have it on their smartphones according to one researcher. that's a segment that you want. facebook also has a history of copying their competitors and their features including snap's disappearing posts and that really hurt snap user growth. tiktok is wary but the company also has other headaches to deal with including regulatory hurdles to clear and you heard president trump this morning saying he will look at a ban on tiktok in the u.s. now, in response to that, tiktok's ceo kevin mayer also says the company accepts that it must deal with even more scrutiny because of its company's chinese origins. stuart: okay. we will see about that. the story moves on. thanks, susan. at least 21 football players test positive for the virus at training camp. more players are opting out of the season. is football doomed? is it? strong word to use but it's a good question. we will discuss. the consumer electronics show in vegas, canceled.

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stuart: well, look at that nasdaq go, up 119 points, better than 1%. nice gain for the s&p and the dow as well. stocks are up this morning. let's get back to big tech on the hill. bring in congressman greg stubey, republican from florida. you're about to walk into the hearing. seems to me that there are three choices as to what you want to do with them. you can break them up, you can tax them to death, or you can reregulate them big-time. does any one of those options appeal to you, congressman? >> those three things don't appeal to me as a member of congress. i certainly don't support increasing taxes, i certainly don't support increasing regulations on businesses. i think we should do the opposite. and i'm not one in the camp with the democrats to think we need to break up private companies. i'm going to go down the line of asking questions as it relates to censoring conservative talk. we saw recently there was a

letter from employees at google to their ceo basically saying we don't want to have police officers with g-mail accounts, we don't want to provide them services through google and those are the type of things that i intend on asking in the hearing. stuart: what could you do about that? i take your point, censorship of conservatives, it's rife across the board here, but what can you actually do about it? >> well, i think bringing to the surface what's really going on in these companies which i think that letter to the ceo illuminates the position politically of some of the employees at google, 1600 of them that don't clearly support our law enforcement agencies. i think bringing awareness to that and i think a lot of people certainly in my district have always believed that conservative voices are thwarted and there is bias in google and facebook and some of these other big tech companies and i think bringing that to the surface is very important to do, and asking them to be accountable. we have the first amendment in our constitution that gives everyone the ability to speak their mind and free speech, and i don't think that these tech

companies should be stifling that speech. stuart: i will second that, sir, big-time. thank you very much for saying it. now, you were at the hearing with attorney general barr yesterday. i know you saw this, but for the benefit of our viewers, i want to play some sound from the interaction going on and get your response later. roll the tape, please. >> what makes me concerned for the country is this is the first time in my memory that the leaders of one of our great two political parties, the democratic party, are not coming out and condemning mob violence and the attack on federal cou s courts. why can't we just say, you know, violence against federal courts has to stop? can we hear something like that? stuart: he asked the question. i doubt there was much of a response. you come from a law enforcement family. what do you think about that interaction there from a.g. barr? >> well, not a single democrat was willing to call the violence

that we're seeing in these cities for what it is and that we need to have federal law enforcement officers to protect our federal buildings, to protect our federal monuments and for the rule of law. you're not hearing a single democrat talk about that. in fact, they brought up video of peaceful protests. mr. jordan in the beginning of the hearing showed video of all the violence, actual footage, black and white and in color, all across the country of what is actually happening in some of these cities and the democrats are trying to cascade it as a peaceful protest. we know these are not peaceful protests. yes, there are peaceful protests that have occurred but when they turn violent, you need to condemn that violence or you are encouraging that behavior and from a law enforcement family, a father who is a sheriff and a brother who is a deputy, our officers' lives are at risk because there are leaders in this country that are not condemning violence and encouraging this behavior. stuart: give me 20 seconds on whether or not you think this is an issue in the election in november. >> absolutely, 100% think it will be an issue in november.

i don't think that moderates and independents in florida and across this country think it's okay to defund police and attack police officers and attack federal property. stuart: greg steube, we won't keep you any longer. thanks very much for joining us today. we appreciate it. >> thanks for having me. stuart: thank you. next, the consumer electronics show is canceled. this is a big deal. instead, this year's show will be completely digital. kurt knuttson is with us now. first of all, can you quantify how big a hit vegas takes with this cancellation of ces? >> stuart, good morning. 171,000 people will not be going to las vegas january the 6th. that's how many people showed up last year. so we were anticipating roughly the same amount. it's fairly consistent. 4400 companies would bring all their wares or goods or services and call themselves exhibitors and that's what people flock to see, the latest and greatest in

technology. the most significant tech show in the world has been shut down in its physical form. it is going to be massive for the tech industry. it is going to be massive for the consumer electronics retail. it is going to be massive for las vegas in their own economy because they rely upon that in part for their 57 some odd billion dollars of annual revenue that comes into that. i'm still holding my hotel reservation for that period. i haven't let it go. i just can't yet, but i will. stuart: well, do you think it will go -- stay virtual, stay digital, forever? >> never. not a chance. no. they've already indicated that in 2022, they will be picking a date momentarily, it will return physically as early as just june they were saying there's going to be some four-month physical gathering. i have been going to this thing for almost 20 years. i was sent a very detailed survey online asking in essence what would it take for me to go

this year, come up in 2021, and i just, as i went through it, it kept challenging the question just to see how comfortable i might be as a journalist who usually goes there. based i guess on all of those survey answers, their own internal workings, they put an end to it for 2021. this is a big blow. stuart: yes, it really is a big blow. i have been to ces. i have seen it. vegas is jammed with people with money, they're spending freely. it's a very big deal. and it is not going to happen this year. kurt, as always, thank you very much. see you soon. thank you. take a look at spotify, please. where's that stock right now? it's up 9.4%. that's a rally. they are now a certified lockdown winner. revenue up 97% last quarter. they brought in over $700 million. as i said, the stock is up big-time, 9.5%. look at l brands. they are cutting 15% of the

corporate work force, about 850 people. that's the parent company of victoria's secret. investors love this. the stock is up 34%. less than a half hour from the big tech ceos testifying before congress. we have a preview of what they are going to say. we will tell you in a moment. first, though, less than a week after opening day, and the virus is putting the entire baseball season in jeopardy. we are talking to a former pro baseball player who is a doctor, after the break. ♪ this is decision tech.

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should there be sports right now? should major league baseball go on? the nfl, too? >> it seems to me that it's probably not going to be able to happen.

based on, based on what the leagues themselves are saying. i mean, you have the marlins saying we can't do it, so many people, so i think they should just follow the science. stuart: there you go. the baseball season probably not going to happen, according to former vice president joe biden. mark hamilton is with us. he's a former major leagues player and he's now a doctor. thanks for joining us this morning. do you think we're going to have anything like a reasonable, even 60-game season for baseball? >> you know, thanks for having me on, stuart. i appreciate it. are we going to have a reasonable season? it's probably too early to tell. the indications from the marlins camp are not good, but i also, you know, i watched the commissioner's address on the matter and saying they had protocols and you know, a lot of, you know, ideas to follow if this were to occur and kind of built-in contingency plans so what we see a normal season, i think the answer is already no. will we have a season, i think

many are hopeful. stuart: what do -- what do players talk about in the bull pen there, you know, as they're waiting to get on? i mean, you've got this virus. do they understand the risks? are they still fist bumping and chest bumping and all that kind of thing? is that going on? >> sure. i'm not in the clubhouse right now to see it. so i'm not 100% sure. my guess and my kind of understanding of it is that it's ever-present on everyone's mind right now. it seems like the players are calling votes to decide whether or not they want to go play in a certain city or whether they want to play whatsoever. the positives of it are at least as far as we're aware at the present time, it's confined to the marlins organization and granted, miami is currently experiencing its own very large outbreak. so we'll have to see. but my guess is that the players are at least aware that there's a significant risk to their own health. there's a risk of bringing it home to your family and i think every player's situation differs

based on whether or not they have someone at home that's more at risk, where they are in their career and things like that. stuart: what would you do if you were still on the roster of a major league team? what would you do? >> i think it's a tough decision. like i said, it's individual so i look back at my own career, this is kind of a question i assumed would be asked, and where i was with the cardinals as a predominantly bench player, predominantly a backup, you know, the risk of playing as long as the safety protocols are solid, which the fact it's contained to the marlins is a good indication that at least there is a way to contain this if there are issues. obviously if other issues break out, if the philly players end up positive, if other teams start showing issues, we would have to call into question whether or not this is feasible. but i think if you were trying to make a roster, if you were trying to, you know, establish yourself in the league, i would be more inclined to play in that situation. on the other hand, if i was a

star player on a guaranteed contract and you know, i had a high risk family member at home, i think opting out would be the clear choice. really, this whole situation's going to dictate itself based on the players, in my opinion. they came together, they made an agreement, they are testing that agreement, they are really the first sport with somewhat close contact to test it, and it's kind of a test case and what we are seeing is a speed bump, to say the least, but not a roadblock yet. stuart: well said, doctor. it is indeed a test case. first contact sport to try to get back in business. dr. mark hamilton, thanks for joining us. appreciate it, always. >> thank you. stuart: sure. let's switch to football. the virus causing some nfl players to just opt out of the season. that's what we're looking at here. i don't know exactly how many have opted out but some are opting out and it puts the whole football season, although it's some way distant, certainly puts it at some degree of risk, just like baseball. i will get more on that in just

a moment. look at this. i'm going to quote the stock price of wingstop, okay. they are a chicken wing company. look at them go, up 15%, soaring. that's because they had a blowout earnings report, income more than doubled from last year. they were delivering a lot of wings. sales surged both online and on their app. this was a chicken wing epidemic, if ever there was one. wingstop, $153 a share, up 20 bucks. starbucks, okay. they lost $3 billion in the last quarter, but the stock is up nearly 4%. why? well, i'll tell you why. they're expanding curbside pickup to 1,000 stores. that's something new from starbucks. investors love it. $77 a share on starbucks. then there's tupperware. they reported a huge jump in profits last quarter. restaurants closed, everybody at home, and eating leftovers. yeah, they did. me, too. that's good for tupperware.

the stock is up 52%. $14 a share, up five bucks. amazing. i think we've got jillian mele with us, fox & friends first cohost. give me the story on the football players who are opting out of the season. >> okay. so here's the deal, stuart. according to the nfl players association, 21 nfl players tested positive for covid-19 in just one week of training camp. as the list of players opting out continues to grow, here is where we stand as of right now. at least 25 players have opted out of playing this season over covid-19 concerns. 14 are voluntary opt-outs. three are high-risk. eight at this point are unspecified. so what does that mean, you might be asking. i'm going to tell you. those considered at high risk for covid-19, they are going to get a $350,000 stipend from the league and get credit for an accrued season. voluntary opt-out, that's most of them, they get paid $150,000 and they don't get credit for an accrued season. so say a player was slated to become a free agent in 2021.

that will now happen in 2022. so a lot of difficult contract work here at play. a lot of players have made the decision to opt out because of very personal reasons. case in point here, eagles wide receiver marquise goodwin posted a really touching message on social media and this reads in part quote, three years ago i made a decision that affected my whole life. i chose to leave my wife at the hospital after prematurely birthing our first baby boy which resulted in a fatality to play in a football game. i felt like i had to prove to my coaches and my new team that i was dedicated to winning and i wouldn't let anything keep me from the goal, not even my family. now, he also posted a video and went on to say quote, after choosing football so many times, i am finally choosing my family first. now, by the way, after the couple's first miscarriage, they went on to have two more. he said his decision in the past was selfish and that he's not going to do it again. so that's just one example of

many. we are hearing a lot of personal stories like that coming from the players who are opting out and those who choose to play are and will continue to undergo frequent testing, and we can expect safety protocols to change throughout the season. of course, as we are seeing with the mlb and the marlins, sometimes you have to quickly change the course of action. so that is it for now. stuart: it's a fascinating story because there really are two sides to it. i'm inclined to say come on, let's play, but then when you hear those kind of personal stories, you hear the other side of the fence. that's very important. >> you realize they are people just like all of us are. stuart: they are. jillian, thank you very much indeed. good stuff. thanks. in a few minutes, big tech ceos start their testimony in what's expected to be a contentious antitrust hearing. we've got their opening statements, by the way. we will bring it to you after this. ♪ businesses are starting to bounce back.

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stuart: a delay in the big tech hearings, pushed back to either 12:30 or 1:00. so you've got roughly a half hour, one-hour delay there. however, we do know what the big tech leaders are going to say in their opening statements.

susan knows all about it. tell me more. susan: the opening statements were released last night and all painting themselves as patriotic american companies. there was a difference in tone between those that are founders like bezos and zuckerberg and those that are more ceos and custodians like cook and pichai. bezos's opening will be more personal, more about the company culture and writing in fact he says amazon has made billions of dollars of failure inevitably comes along with invention and risk taking which is why we try to make amazon the best place in the world to fail. zuckerberg will say i'm proud that we stand for american values, like giving every person a voice and expanding access to opportunity. but there's no guarantee our values will win out. same line for apple's tim cook who says that apple is a uniquely american company whose success is only possible in this country, while alphabet's sundar pichai will say the competition also sets higher standards for privacy and security. as always, he believers privacy is a universal right and should

be available to everyone and google is committed to keeping your privacy. combined market cap of these companies $5 trillion. they have a lot of cash on hand for potential fines. apple has $200 billion. google, $130 billion. facebook has $60 billion. amazon has $50 billion. combined wealth of all four individuals, you have two of the three richest on the planet, $265 billion in total. that's bigger than peru and bigger than greece's economy. i don't expect to hear anything new later on in this testimony but i will tell you, there will be some interesting theatrics and people will closely pay attention to bezos since it's his first time testifying on capitol little. stuart: they will go after bezos because he's the richest person in the world and that will be the headline news when these hearings are over. that's my prediction. i'm sure i'm right. thank you, susan. susan: as always. stuart: more "varney" after this.

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stuart: the big tech hearing has been pushed back a little. 12 : 30 or 1:00 oak it will start. look on left-hand side of the screen those are the big tech ceos who will be under pressure today. all on the upside despite the pressure. got to get this in. kodak where is it at now? good question. it was $33 a share. during our show it went to $53 a share. then we interviewed the ceo and

then down it came to 27. now it bounced back to 33. he wouldn't confirm how much extra business he would get by going into the pharmaceutical business and taking over some of china's supply to us. what a story. my time's up. but neil, it is yours now. neil: remember when it was a dying photography giant. it missed the digital age. now it has a connection with the drugs and all the rest? it is off to the races. stuart: extraordinary story. neil: you and i are probably only ones that remember that old kodak. thank you my friend. >> neil, i was going to tell you asked my grandchildren what do you know about kodak? never heard of it. never heard of it. neil: isn't that wild. isn't that wild? paul mccartney was, beatles what is that? okay. game over. stuart: you got it. neil: feel like lawrence welk