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tv   The Claman Countdown  FOX Business  October 12, 2020 3:00pm-4:01pm EDT

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the top ten. certainly, there's a lot of opportunities across the board. energy does not look too good today. i've warned you about energy though, no need to force the issue there. it's a huge week. we start earnings and a whole lot of other things. liz claman, a great way to start this week. liz: you know, you sound like and down the stretch they go, like horse racing. [laughter] and it is, charles -- charles: it is! liz: -- such a hot day, it really is. all right. you know, it may be monday, but it's what we're calling super tech tuesday that appears to be driving stocks, at least the big names, as we barrel held first into -- head first into this final hour of trade. look at the nasdaq. it is up 351 points, stampeding into the close led by a tech titan i ahead of apple's 5g extravaganza and amazon's prime
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day event. our new betting week close there, never to be seen again, perhaps? barstool sports has put penn national gaming stocks firmly in the lead, but nearly a month after its record-breaking rollout, what's the next may for penn national gaming whose stock surged 153% year to date? penn national ceo jay snowden is here in a fox buzz exclusive. plus -- business exclusive. plus, we've got the woman who traded silicon valley for the heartland and now has her home-grown products flying off amazon's digital shelves. but first, we begin with a fox business alert here. investors are pulling back the reins on workhorse at this hour after it gallopedded ahead at the opening. take a look at the utility maker. it secured about $200 million in funding from institutional lenders in the form of senior
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secured convertible notes due in 2024. so you can see where we opened, above $30 a share. right now we're at $27.05. so really pulling back, and possibly just getting to the flatline from where it closed on friday. the company plans to use the proceeds to increase production, advance new products and refinance debt. investors are buying dillard's stock, web bush increased its price target to $49 after berkshire hathaway investment manager ted wexler -- one of two traders entrusted with warren buffett's massive stock portfolio -- he disclosed a $1.1 million share in the department share or personally, not even for berkshire. that makes ted wexler the fifth largest shareholder. that stock is powering ahead by 31%. now, at this hour back on friday twitter, i don't know if you guys remember this, but it had taken a dive. in a reversal of fortune at this
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hour, the micro-blogging service getting a boost after deutsche bank upgraded the stock to a buy, raised its price target to $56 a share. it's jumping to $48.34. and, yeah, let's get to the super tech tuesday. investors are polishing up their credit cards ahead of tomorrow. amazon kicks off prime day 2020, its two-day sales event when it offers discounts and savings across the platform. amazon is jumping 5.6%. looked at apple, up 6%. punched a one-month high ahead of tomorrow's unveil of the much-awaited first generation of 5g phones likely to be called iphone 12. and best buy kicking off its own version of black friday tomorrow, deals straight from the electronic retailer's not yet released black friday ad will be available tomorrow and wednesday. so, of course, that leads to this, folks, let's just face it, at this hour we once again have
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a big tech melt-up. so as consumers gear up for the new black friday, will investors be unable to tear themselves away from their love affair with technology's handful of leadership names? to our floor show traders on this very busy monday. scott redler, we may get the answer tomorrow with the kickoff of third quarter earnings season because we're getting jpmorgan, j&j, citi, goldman, bank of america, wells fargo wednesday, a lot of big names in addition to that. any signs of rotation out of this handful of big tech names, scott? >> well, at this point there's no signal for that, but you rarely get a signal. you remember last week when they rotated out of tech we were together i saying, hey, buy apple, buy amazon. if you did that, you did well. so if we look towards the rotation for maybe earnings, i would say that jpmorgan -- it's been a nine month channel. it's done absolutely nothing. if you want to trade there, buy
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a call spread. it's not that sophisticated, you could buy the 105 calls and sell the 110 calls. if jpmorgan is actually positive and responds well, investors could make a nice percentage return. if that doesn't work because sometimes they like to sell jpmorgan on earnings, look to wang -- bank of america, buy that dip, and then usually you can play the middle there. take a call spread with jpmorgan and perhaps if that doesn't work and they sell them down, get involved with bank of america in the 25s. liz: is this weird, this year to date picture of jpmorgan, you wonder what the heck, because this is the biggest bank by revenue and deposits. yeah, i am interested to see what happens tomorrow when people will be kicking themselves saying why didn't i listen and get in today. phil, to big tech once again. it became the defensive play of the season in the face of the pandemic. usually we'd see treasuries or gold as a defensive play. of course, the bond market is
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closed today for the holiday, but, phil, are you hearing about maybe any whisper numbers in any of these names that'll offer earnings surprises and perhaps bore investors away from this overpoppe lated sector? >> i think you can tell by the way the market stock is acting, these tech names are going to blow away expectations, and they'd better because, you know, they have a lot to live up to. liz: yeah. >> sometimes we really build up these stocks in anticipation, and they disappoint, then you get that scott redler break to buy, he's going to buy, and you're going to say why did we hang out? i think the biggest fear or is that we do get good earnings, and these stocks really take off, and then you do get that rotation. i think there's a rotation play waiting to be had. you know, when you get a lot of commodity funds or stock funds that are sitting on a lot of these stocks and they're making a lot of money, they like to protect those profits. so you could have that situation. i think the, you know, materials is going to be one lawyer that i
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think is under-- one area that is undervalued. it can come back after the elections. there's probably going to be some type of stimulus package, you know, creating more intention to use these things. so i think that that is the biggest -- liz: right, right. >> but, you know, breaking up is hard to do. don't get me out of my tech, whatever you do. liz: and one last question to you, scott. so the s&p is within 2% of an all-time record: the dow has already e roused, starting -- erased, starting last friday, every loss year to date because it has been a very difficult row for this year. do you get a little concerned, is there any insurance that you're buying? and if so, what, so our investors can maybe piggyback off your trade? >> well, i've been holding about 20-plus positions throughout the course of the last few months, and i tried to buy insurance policy. i bought vix call spreads for november for the election and for december just in case we don't have a president and just
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because the market doesn't like what it sees. having insurance is great when you need it -- [laughter] if you have a big portfolio, you know, if you have to go with some spy puts or put spread or vix call spread so you can sleep at night, that's not bad. especially if you're a trader. if you're an investor, this year also proved you could put monthly flows in, you get a nice cost average, do it at the long term, and there's less risk of being in the market if you have a long-term plan. liz: i've never heard of the vix charity, but, yes, you're donating money. [laughter] and, phil, i do want to look at crude oil. people are wondering what's going on, crude has fallen two sessions straight. i know that libya's coming back on line, so there's going to be way more supply, but what do you see in this sector? >> i think we're getting that dump because of libya. opec's going to have to react. if that happens, oil should find some ground here, make no mistake about it. i can't believe we didn't talk about the jcpenney cyber sale.
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that's coming up tomorrow. nobody's mentioning it, i don't know. [laughter] you know, we've talked about apple and amazon, jcpenney in the cyberspace, who knows what's going to happen tomorrow. liz: yeah. well, yeah. and people will be home, and they've gotten a lot better at using their credit card online. good to see you guys, our floor show traders, giving you their road map. we're really appreciative that you're here. speaking of roads and maps, do all business roads lead to amazon? with the closing bell ringing in 52 minutes and the dow up 309 points, when we're talking about all business roads, we're actually including the business of agriculture in that question. on this national farmers' day, up next a sizzling hot family-own farm whose products are flying off amazon's warehouse shelves within hours of arriving on those shelves. who is this farm? what is their secret? you are going to meet them next
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liz: as tens of thousands of family-owned businesses and farms unable to survive during the pandemic closed for good, one generations-old farm turned to technology to flip the hyperspeed switch on its pipeline of non-gmo products. as the covid panic spiked in early march, legume and grain farm palouse saw six weeks of produce at the amazon warehouse sell out in a matter of hours. that's when owner sarah maynard tapped into her silicon valley background n. a fox business exclusive, sarah, owner of palouse, joins us live. happy national farm day to you and the team there, sarah, how's everything going? >> hey, thank you so much. thanks to having us on and also farm bureau for putting this together for us. liz: oh, we love this story. and right off the bat oversimply ifying this, i know i am, but could you describe -- let's just call it the day before the pandemic and the lockdowns began
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sweeping as cross the nation. what was your world like and then the day after when suddenly there was this massive demand? describe that. >> sure, i'd love to. so we sell chickpeas and wheat berries on amazon, and they're grown directly on our farm. we've partnered with amazon for over ten years as a small business to send products to their fulfillment centers and have amazon fill the orders. it allowed me to get an alternative work force in place, is have more flexibility in schedules, so many benefits to partnering with amazon as a small business. that's just one of them. so we were chugging along, the normal growth patterns. everything was doing fine. and one of my managers was just stressed. she was, she couldn't keep anything on the shelf, i mean, we started feeling this early february. we never climbed out of the holiday stock at amazon
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warehouses. so she sent up the red flag. and i thought i better go -- i work at a different office. i better go check and see what's going on. and as i saw what was going on, i started watching the numbers very closely. and the sales started jumping at astronomical levels. so much so that we had to immediately flip product, we saw 4,000% growth in some products. we had to flip -- of course, the fulfillment centers wouldn't have time the catch up. so we flipped to filling those orders in our warehouse. and so we had to staff up -- are you there? liz: yeah, i'm right here. >> okay. so we had -- liz: so let me jump in here, let me jump in here because, clearly, you guys were, as you say, chugging along, and then suddenly you see that there's this massive demand for dry goods and pantry statements which, of course -- staples,
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which, of course, works perfectly for what you guys have, split peas, lentils, wheat berries. there was this bizarre desire on behalf of everybody to start baking bread, and that works perfectly with you guys. talk to me about what you as a family farm that's been around for generations saw as a massive challenge. i know you ran out of bags in which to put your products, and you leaned on tuneny local businesses -- tuneny local businesses to help with that? this is fascinating to our viewers. >> so when your working 18-24 hours a day, every day there's a new challenge. so the team would come with challenges, and it was, like, so exciting. it was an exciting -- there was a lot of momentum internally, a lot of loud music playing to keep us, you know, full of energy to fill these customer orders. we immediately knew that, we knew early march we were running out of packaging, and we had to figure it out really quickly.
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so we started using all of our u.s. channels to pull in packaging. and we knew we had to do a complete shift from our fabric bags. our fabric bags, there's a long time to manufacture. we needed something faster that we could do local. so we -- not imported, we bought all the craft bags in the u.s. and had them shipped here from anybody that had any, and we launched a new site. i took one of those to a local print shop, j and h printing, and i looked am hose will the this -- homeless at this point, and i looked and pleaded with her with these eyes of desperation and said can you print them, and she said yes. and we took that packaging, and within 24 hours we had a number one bestseller on our hands. we had about 14 -- liz: nice. wow. >> yep. and we just kept growing. liz: well, this is a story of the going gets tough, the tough get going. you have a silicon valley background. you had worked in that region,
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in that area in marketing for a up couple years, so you were able to kick in. what's your final word on amazon? because, you know, there are people that want to beat up on this company, and then there are others like you who were able to at least get your products in front of the nation and, quite frankly, the world instead of your little area. >> so, first of all, i wanted the platform. here's what i'll tell you, corporate spaces don't mean anything. there's another large online e-commerce business, they've been allowing price gouging of my products recently. we brought it to their attention, they won't take care of it. amazon brand protects my small business. they have an amazing ability with the brand protection to take care of me, and who would have thought that i needed to protect the brand of lentil and garbanzo beans? [laughter] yeah, right? amazon keeps getting new tools to help businesses like mine
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succeed. i think what you're going to see is that as a seller on amazon, you have so much more access to really good reporting, first of all, really good brand protection and really good relationships. liz: okay. >> what amazon says they will do, they do. look at their investment -- today's the last day if you go spend $10 with a small business on amazon, they're going to give you $10 tomorrow on prime day. liz: okay. it sounds like a good deal. >> [inaudible] yeah. liz: i'm liking the lentils. i'm a big fan. sara, on this national farm day, you are a huge success story during difficult times. i know you were hit with tariffs as well, but you are still standing, and we love to tell that story on national farm day. thank you so much, sara mader. >> thanks for having me. thank you. liz: check it out. all right, the closing bell ringing in 40 minutes and, yes, we're still up 297 points for the dow.
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s&p up 1.8% or 62 points, but watch the nasdaq, up 312. it's leaving correction territory in the dust today, but we still have 39 and a half minutes now left to trade, and you never know what might happen. in the meantime, sports fans going wild last night. where do i look, where do i look? you had mlb playing off, the biggest teams in the nfl facing off, and the l.a. lakers winning the nba finals. but was it an even bigger win for casino and penn national gaming? penn national gaming ceo jay snowden joins us live in a fox business exclusive next. and to the biggest match-up of all, president trump and joe biden are on the road again today. up next, connell mcshane takes us to the ground to one key swing state that's coming down to the wire when "the claman countdown" returns. don't go away. ♪
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♪ ♪ liz: all right. day one of the four-day supreme court confirmation hearings for judge amy coney barrett has wrapped up for today. we heard from each member of the senate judiciary committee ahead of judge barrett's opening statement. tomorrow the questioning round begins. on october 22nd, the committee will vote on advancing the nomination to the floor for a full senate vote. all right. so from there to election day -- [laughter] we've got fewer than 22 days til election day, and as we inch closer to the polls opening, the swing states of wisconsin, michigan, pennsylvania, ohio and, yes, florida are under the microscope. now, at the moment in florida, the presidential race is this close. on your screen, three of the latest polls. fox 35 in florida shows trump with a 46-43% lead.
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flip it over to the poll conducted by reuters within the same time frame as the fox 35 poll, that one shows a 49-45% lead for biden this time. and "usa today"'s florida poll done earlier this month, no shock here, the race is tide, 45-45% -- tied. all right. so to get straight to the story, we seven connell mcshane to orlando, florida, to a state that could very well swing the election in favor of either president trump or joe biden. connell, what are you hearing from the people that you're speaking to there? >> well, it's interesting, liz, we're here all week trying to get a sense of, first, the economy in different areas of the astronaut. today we're actually coming to you from sea world as you can probably see behind me. although there are tourists back, certainly the levels are down from what you'd expect in,
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quote-unquote, normal times. and all the indicators are still pretty rough here in the orlando area whether it's hotel occupancy, airport traffic, they're way off from normal years. so how does that translate to politics? as you said, the polls show it's so close. it always is here in florida. i will say that some of the biden supporters we've spoken to like the mayor in orange county, jerry demings, they do think this state has really kind of leaned a little bit to the red in recent elections, might be able to be flipped back to the blue side. take a listen. >> people are frustrated now because of the high unemployment rates that we see here in florida, and there really has been, i think, a lack of leadership and clear direction from the top, from the white house right down here to our governor as we have dealt with the pandemic in recent months. >> now, for president trump florida's seen as a must-win,
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and he is expected in this area today as he gets back out on the campaign trail post-covid, his first stop is in this area. vice president pence was just north of here over the weekend. so they certainly get how important it is. voters, a lot of passion, as you would expect. but we were out talking to them, liz, the other thing that stood out -- and it's interesting, because it's different when we were last in the swing states a few weeks ago -- a lot of people didn't want to speak with us for whatever reason. you'd get i'm sick of politics, or i don't want to tell you who i'm for because the environment is so tense. so the politics can be tough the gauge especially in a state like florida. the economy, baby e steps. one just quick anecdote, disney springs last night, they actually add had to close down their parking facilities because they hit capacity. kind of interesting, shows you people are starting to come back a little bit even though the levels are still down. much more from here, by the way, next hour. liz: you know, connell, it makes
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sense. it almost seems like voters don't want to show their hand. maybe they haven't decided yet, they're just waiting to see til the last possible moment the possibility. thank you. great to see you. connell mcshane right there in orlando, florida. and join us us one week if election day, october 27th, 2 p.m. eastern, charles payne's virtual town hall, america votes together. charles and his panel will be are answering your questions on jobs, housing, investing and much, much more. all right, check the clock. 31 minutes before the closing bell rings and, yes, the dow is now back up above 300 points to the upside here. the nasdaq up 323. hey, it's a melt-up in big tech right now, up 2.7% for the tech-heavy index. from the elections battleground to the battle on the gridiron and the diamonds, up next i speak in a fox business exclusive with penn national gaming see owe jay snowden -- ceo jay snowden on how penn's
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new relationship with barstool sports already turning out to be a winning bet in the growing field of online sports wagering. "the claman countdown" coming right back with jay snowden. don't go away. ♪ get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity. state of the art technology makes it brilliant. the visionary lexus nx. lease the 2021 nx 300 for $359 a month for 36 months. experience amazing. at your lexus dealer.
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find your fitscore and get your answers today to get the most out of medicare. call the number on your screen or go to healthmarkets.com call now. ♪ ♪ liz: the los angeles lakers supplying a feel-good moment in sports last night. they captured their 17th nba title in franchise history and, of course, it comes less than a year after lakers' legend kobe bryant and his 13-year-old daughter died in a helicopter crash, so a particularly sweet moment for the lakers and for all of the nba. in football, easily the best moment. my cleveland browns beat the indianapolis colts -- [laughter] 32-23. yes, moving to 4-1 for the first time since 1994. thank you. finally. okay.
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back then the head coach was bill belichick, and he did nothing for the team. okay9. all right, our current coach was just 12 years old at that time. yes, our current coach. i am the cleveland browns. we're joined by a fan fully entrenched in the sports gamble world, penn national gaming ceo jay snowden. you must have been in heaven this weekend. >> well, yes, as a sports fan and from a business perspective, who would have thought seven or eight months ago we'd be talking about one night in october having nba finals and nfl football, major league baseball, the alcs, it's really been just a really busy month, september as well. and, yeah, we're very excited to be in the thick of things in our relationship and partnership with barstool, we find ourselves in the middle of all of this,
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which is very exciting. liz: well, your partnership involved, of course, a bunch of issues, but most importantly the rollout in pennsylvania only of the barstool sportsbook app, the sports gaming app. the numbers, i know, were absolutely insane. you had a record-breaking weekend. i believe you had something like 21,000 downloads per day over that weekend. but we're nearly a month past that. how have the numbers been looking since then? >> yeah. really a great start, as you mentioned, liz. pennsylvania being the first state that we launched in with the barstool sports book. look, we're teamed up with the best marketers around, dave portnoy, the rest of the peanut barstool. despite those record-breaking results for downloads and registrations and first-time deposits and betters in pennsylvania, we spent zero in paid marketing, paid advertising for the first two weekends and only just barely started to
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spend a little bit now and sandwich partnerships in philadelphia and pittsburgh, and they've done a great job with those. but the results so far have been great. i've only shared the first two weeks, we have our earnings call two weeks from now, so i can't give you exact numbers from every weekend after the first two weeks, but safe to assume that, you know, the tension and the stickiness, the loyalty of that audience and the app is a great product, we have a 4.8 rating which is as good as anyone else out there including draftkings and fanduel, so fans love the app. it's a great experience, it's very unique in that you can bet with the personalities behind barstool, and we're off to a great start. liz: mobile sports betting is catch as catch can depending on which states have approved it. that's why we can only show you a still photo of the app because i'm in new jersey, i couldn't download it. our team is all over, but luckily in the tristate area,
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connecticut and new york. as we're all disparate at the moment, we couldn't really see it. let's talk about other states and when they launch. i know tennessee is launching next month because it was legalized. virginia legalized and i believe that was in july, they'll take about a year the get going. louisiana, that's pairish by parish. maryland. so tell me when you expect to start opening those valves into particular states and the states where it's already legal. >> sure, liz. remember, too, part of what made, i think, our strategy really the gold standard is because we operate brick and mortar casinos, 41 of them across the country in 20 states. and why that's important is we don't have to pay for access for the sports betting opportunity in those 20 states that comes with the brick and mortar casino licenses. so we have a leg up from an economic standpoint. and we launched in one state first, want to make sure that we get everything right. there's some complexities around
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the traveling wallet once you launch in that second state, we wanted to make sure. you don't have to download a new app for that state, you don't have to worry about a second deposit, you can deposit once, the wallet travels with you. now, for us, it's a matter of getting to all those other states that have legalized sports betting across the country. we operate in many of those. we're going to operate in state number two, which is michigan, sometime in the month of november. we're just waiting on the regulators to name the date. we'll be ready. and as you get into 2021, i think you should expect for us to be in every state that's legal where we operate and launch by the end of 2021. we'll be well over a dozen states by the end end of the calendar year. liz: well over a dozen states, okay, that is definitely a headline because the calendar year, as we look at it, you know, it's not that long. so, you know, i know that you also have the brick and mortars. you've got 41 properties in
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casinos, but i am focusing specifically on online sports wage ebberring because -- wagering because it is a crowded field. we've hat the skill -- had the skills guys on, we've talked to a lot of these people, and they're all in it to win it. the score, we like those guys, they're pretty interesting. you have a marketing, i believe, a marketing deal, a relationship with some of these companies. but how do you avoid having any kind of crossover or conflict when you're dealing with barstool sports book as well? >> yeah, look, part of i why we have a relationship with some of those that you named -- draftkings and points bet and the score is because of the access that i mentioned to you earlier. we operate in 20 states, so we kept, obviously, one of those licenses for ourselves, for the barstool sports book. but then we ended up with more other sublicenses or skins that we farmed out and partnered with draftkings and points bet and the score and fox bet which is part of fanduel and flutter.
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and we provide them assets in return for rev share. it's not so much that we're partners per se in how they operate their online sports books versus how we do, but we are in the business of collecting revenue shares from them. so we really do have the strategic advantage. and one of the other advantages we have over many of them is, i think, because we have this brick and mortar portfolio of properties that's going to allow us to be live in, like i said, over a dozen states at the end of calendar year 2021, we have economic advantages because our business is currently generating significant free cash flow. we are able to take the free cash flow from our core business and reinvest in growth opportunities both on the retail side as well as playing offense online with the digital sports betting/casino opportunities. liz: i know with these brick and mortar opportunities, that does allow you some latitude when one is lagging another.
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but with barstool sports having 66 million unique users, eventually do you see -- i mean, i believe you only have 60,000 at this point because of the limit with pennsylvania, but do you eventually see your mobile sports wagering overtake your casino business? >> i -- who knows, liz? honestly, we're in the first inning. that's part of what makes this exciting, and i get asked that question a lot. you know, the stock's had a great run, and what's the argument or the compelling position to investors today. i just continue to reiterate, it's so early. we're live in one state. we're going to be in over a dozen by the end of 2021. a lot of those states offer online casino as well as online sports. so we're just getting started here. i think the opportunities are really limitless as you think about where could we be in three years, four years, five years. remember, because of covid a number of states that maybe had
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not legalized or even considered legalizing sports betting in online casino, it's very high on the priority list right now because state like new jersey and pennsylvania that had already legalized it pre-covid, guess what they got to do when all the brick and mortar facilities were shut down? people went online, they were still able to participate in casino gambling, sports wagering, and other states took note of that. i think you're going to see it proliferate much quicker going forward than most thought about at the beginning of this year. liz: yet another reason to live in new jersey. [laughter] thank you, jay. [laughter] jay, it's great to see you. we will be watching. and erica far dinny, of course, ceo of barstool sports, she and i decided we're going to buy a women's hockey team, so maybe you can sponsor it. >> that sounds like a heck of a partnership. count me in on that one, liz. liz: jay, great to see you. jay snowden, penn national
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gaming. that stock has seen a gain of 237% year to date. all right, we've got the closing bell ringing in 16 minutes. the dow still holding firm, up 1% or 282 points. the department of justice has now set its sights on google. we're hearing the justice department's lawsuit against the search giant behe moth may finally hit this week. what does that mean? when? this week's kind of broad. charlie knows the details. gasparino up next. ♪ ♪ before discovering nexium 24hr to treat her frequent heartburn, marie could only imagine enjoying freshly squeezed orange juice. now no fruit is forbidden. nexium 24hr stops acid before it starts for all-day, all-night protection. can you imagine 24 hours without heartburn?
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is lng toit heome re in dea d dorthorbo billio s,ay ssrt group wroup wch o o s, uyossed ihe bnto las wl asl as asiver liver loll ot clull is inn tksh ddlaluisicqoncq corcq cp. co t take tkehe srtsrtoldidi cny blic via spapaci ppose acquisitioisn cnomom. red ball b w b l lhedhe byy red rd citalartnerartn aarnd oad exec billy beane. talks are still in the early stages. and triller is reportedly exploring a deal to go public as well, according to sources, they've been in talks with blank check acquisition company about to merge, about merging to capitalize on tiktok's ongoing controversy here in the u.s. no deal is certain at this time but, of course, it is something we will continue to watch. okay, breaking up is hard to do, you guys know that. and that may be one reason the department of justice has taken
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so long to file its suit against tech behemoth google. with the stock up right now 3.6%, because i told you there's a tech melt-up, based on charlie gasparino's reporting, fox business has learned something could be coming soon. charlie, what details are you hearing on the timing? >> i just want to mention on triller, we were the first to report that yesterday that they were out there and looking to do, you know, go public via a spac. liz: right. >> here's what we know about google. the cases againsting google, the regulatory causes, are heating up -- cases, are heating up. what we understand is some of these shoes could start falling as early as tomorrow where the doj could be bringing its case against google as early as tomorrow. that's the trump doj. and also you have out there state the a.g.s looking to ready cases over search and
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tech. that could come a little later. texas a.g. could be mounting his own case, or there could be, you know, groups of state a.g.s bringing cases like, for example, a texas case and maybe a california/new york case. at least that's what we're hearing. but the doj case against google is interesting especially in light, liz, of the way the stock's trading. it's making me think that the case is not going to be that exe pans i have. i mean -- expansive. there was two ways that the antitrust division of the doj could come down on this. it could go down very narrow e and say, okay, you know, you kind of screw people on this narrow part of your ad business. we want you to stop or else. and we bring a case. or it could be somewhat much more expansive, along the lines of what the justice department during the clinton years did with microsoft. and they could be seeking further, more existential remedies, so to speakment the
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market is suggesting the former, not the latter. that doesn't mean that's the case, but i'm just telling you what the market is suggesting, that this is not going to be an expansive case, and it's going to be something more narrow, something that google can handle, and it's not going to be something that wipes a third of their market cap out. again, it's always hard to game plan this stuff, you know? the justice department has been pretty mum in terms of leaking on this story other than they're looking at it. some of the stuff you pick up is from state a.g.s who are talking with the justice department, but again, we don't know where this case is coming out, exactly how expansive. but we do know it's coming down the pipe probably this week, and we hear as early as tomorrow. is so keep watching. this could be -- tomorrow could be a big day for google if this is the case. i just want to turn to triller. you know, we had a fascinating story over the weekend, liz, about how triller 's ceo,
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chairman put out a message to company employees basically saying that the chinese government is behind tiktok's attacks against triller in the media and some of the bad press they're getting in the media lately. we did a full report on foxbusiness.com. and in that report, we also said that triller's looking to go public via a spac. a special purpose acquisition corp., which you essentially sell it to this type of vehicle which sells shares publicly. of it's kind of -- some people call it a gimmick, other people call it the new way of raising money without too much wall sup, just mainly an -- too much wall street support. just mainly an investment banker, but we'll see where that goes. tiktok is about 50 times larger than triller. so -- liz: charlie, but careful,
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maybe -- be careful, maybe at some point the little guys become the big guys. we know that. charlie, thank you very much. we'll be right back after the break, folks. six minutes before the closing bell, big day on wall street. ♪ ♪ when i was in high school, this was the theater i came to quite often. ♪ the support we've had over the last few months has been amazing. i have a soft spot for local places. it's not just a work environment. everyone here is family. gonna go ahead and support him, get my hair cut, leave a big tip. if we focus on our local communities, . .
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♪ liz, okay, any way you look at it the nasdaq is the star of the close right now. we do have less than three minutes before the closing bell rings and the tech-heavy index is barreling toward the correction exit signs. in fact i think they just sped past them. yes, we will be out of correction by the time the closing bell rings. we're already there because the past six months so many investors have had a crush on the fangs and a few other big tech names. we thought bring in rdm financial group michael sheldon to help expand your horizons. you have rather interesting subsectors of technology. give them to us and tell us why
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you're focusing on those? >> sure. within technology we like 5g, the largest cell phone-maker in the united states is likely to roll out their 5g phones this week is a really big deal. we're big fans of e-commerce, definitely companies have gotten bigger due to the downturn. we like companies that have involved in the cloud. and artificial intelligence so there are definitely a lot of interesting, faster-growing areas within technology and we include that own the growth side of clients' portfolios. liz: 5g, robotics, there are opportunities all over the place and exchange traded funds but what do you think is going to drive -- i understand apple has its big day tomorrow, by the way, folks apple is charging up 6% with a minute left to trade but the robotic stocks are interesting. it details a lot of capital intensive moves from big corporations, does it not? >> well it does. one of the interesting things the world is getting older, due
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to demographics, some countries around the world, for example in china or in japan are moving towards robotics at the expense of replacing workers. [closing bell rings] this will be a concern for workers down the road. another exciting area within technology. liz got it. got to run. michael, there are the bellsta. will do it for us. connell: all right, looking at stimulus hopes sending stocks soaring for the fourth day in a row. we are up again. a nice looking finish. nice to be with you, connell mcshane reporting live from orlando, florida. as we continue our swing state economy series. >> i'm jackie deangelis in for melissa francis today. this is "after the bell." we have earnings optimism contributing to today's rally. the nasdaq is out of correction territory. big tech leading the way today. apple surging ahead of the big

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