tv The Claman Countdown FOX Business November 16, 2020 3:00pm-4:00pm EST
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thank you very much. i appreciate what you had to say. meantime, folks, we have nestled in, we are holding on to gains. liz claman, we pulled back a little bit but we have nestled near the highs of the session. this last hour of trading is going to be explosive. liz: any gain in the s&p, any gain in the russell, 11measly points to get the transports, right, a new record. there's so much happening right now. i know. guys, you've got to stay for the whole hour. it's not even a trifecta. it's a quadfecta. moderna is the one stock injecting life into the markets, spurring a record rally as the vaccine candidate shows an effectiveness of nearly 95%. in this hour, yes, i will say it again, we could witness the dow, the s&p, the transports and the russell 2000 close at all-time highs. the dow is about to make its quickest recovery, by the way,
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from bear market to a new record at the fastest pace since 1991. 193 trading days from low to a record. but the vaccine by both moderna and pfizer are about to create a mountain of medical waste. this is all great news for one company out there, steracycle which disposes of it for hospitals and medical facilities all across the world. the ceo is in full preparation mode. she's going to explain what they're doing to get ready for that in a fox business exclusive. and as casino stocks rally on the vaccine news, are they kicking off the party a bit too early? the ceo of circus sports just opened the biggest sportsbook in the nation. how he's actually calm about this. he's betting his early open will earn him a lot of green. first, we've got team fox business coverage ready to roll. blake burman live at the white house with the plan now in place
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to distribute the moderna vaccine. hillary vaughn is in wilmington, delaware with what president-elect joe biden is about to say in a speech about the virus and the economy. and our floor show traders standing by to tell you where to put your money to work as a vaccine inches closer and closer to reality. okay. we've got to give moderna some love here. it is off its premarket highs but still up about 10% right now. the stock rose to a 52-week high on the news it broke today, preliminary trial data shows its coronavirus vaccine is 94.5% effective but there's more. remember on friday right here on "the claman countdown," dr. jacob glanville, one of these guys at the forefront of development for antibody treatments, et cetera, he showed you the lab quality freezers that are needed to keep most vaccines out there, including pfizer's covid shot, at a storage temperature of minus 94 degrees fahrenheit. this morning, moderna's ceo
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revealed his vaccine's cool factor. >> it's more a regular freezer, like your freezer at home, to store your food and ice creams. those freezers are widely available at pharmaceutical distribution centers because they are fda approved for them. so that's not a problem. the thing we're very excited is we used before to update [ indiscernible ] and now we have 30 days of study where you can take the product out of the freezer. liz: that is the ceo. in other words, what he's saying is, his will not require expensive lab freezers. to blake burman live at the white house on blake, the next big question. what's the administration's pecking order and plan for who gets the vaccine first, second, third, fourth, et cetera?
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reporter: yeah. it's a good question. first off, as it relates to moderna, they will still need emergency use authorization. that's the eua. should be coming or at least hopeful to be coming in a couple weeks. then you are talking about distribution of this vaccine potentially starting by the end of the year. there are still no real exact details as to who might get this first and when you think about it, it kind of makes sense because they don't really have all of the data just yet. once they get all that data, then there will be a more fine print plan. i asked the white house about this earlier today. i was told quote, i will read it to you, the cdc will provide further details regarding prioritization after an independent review of the data by experts. we anticipate that the first doses will go to vulnerable populations and health care workers. those two groups of individuals is who they think will get it first. the u.s., though, is going to have a pretty big access to this at least right off the bat because during operation warp
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speed there was a $1.5 billion contract that was penned with moderna with the hopes that this vaccine would be coming forward. that means it will treat some 50 million people and the u.s. government will have the option to buy more of these doses down the road should they choose. it was interesting, though, to hear from the top scientist on operation warp speed earlier today as he's already looking down the road for additional vaccines as well. listen. >> what's important is that there are other vaccines that are following actually quite close closely. two more vaccines are in phase 3 trials. they have already 10,000 subjects more or less included into them. one of them, the j & j vaccine is a one-shot vaccine so it goes much faster. reporter: you were talking about the biggest names in the pharmaceutical industry, vaccines coming within weeks and the hopes others will be right after that. liz?
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liz: well, yeah. this is a moving target for moderna. i was just checking. moderna was already run up, the stock, 403%. it was 390 when i wrote it. now it's 403%. from an investment standpoint, we want to let our viewers know just as blake mentioned, opportunities are popping up all over the globe. baylor college of national school of tropical medicine just announced its covid vaccine developed by dr. peter hotez, widely respected in the world of vaccines, began trials today in india. baylor is working with dynavax. they have partnered with india's biological ede. india has the second number of coronavirus cases in the world after the u.s. there are many parallel efforts to solve this deadly problem. solving another problem.
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the economy and the recovery. to delaware, where president-elect joe biden is about to outline his economic recovery plan at any moment. hillary vaughn is in wilmington waiting for that. what can we expect? reporter: liz, we are expecting some at least insight or details from the meeting that he just held with ceos from different companies ranging from retail to technology. the ceos from gm, target, microsoft, gap, all meeting with him virtually along with labor leaders, top leaders from unions around the country chiming in about really how corporations and unions can work together to get businesses back open and workers back to work. we're expecting new information and details from that conversation that he had this afternoon at any moment now when he takes the stage. but while that is happening, there has been some speculation about how president-elect biden would solve a big problem.
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student loan debt. that is something that progressives are pushing him to take executive action on, and circumvent congress if he does not have a democratic majority in the senate. but the party is really split on whether or not that is a good idea. interestingly, overnight, obama's former chairman of the council of economic advisers tweeted that he does not think loan forgiveness is a benefit to people because you have to pay tax on that. he tweeted this. much of the advocacy i have seen was arguing this would help the economy. i see very little aggregate help from it. have heard from more tax lawyers and based on that, i believe it's very likely that student debt relief done administratively without congress would be taxable, but progressives are still pushing him to take executive action on this when he gets in the oval office and one of those people used to work for senator elizabeth warren, her former economic adviser, disagreeing with what obama's former staff
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was tweeting about, saying this. canceling student loan debt has positive income effects, the median borrower making payments has a monthly payment of more than $200. canceling debt could reduce or eliminate those payments which is like sending those people a check every month. so while biden navigates that, we still have not heard from him whether or not he would take executive action. i reached out to the transition team and leading up to this point on the campaign trail, he was mostly silent about whether or not he would take executive action. his first choice would be to work with congress, but progressives want him to find a work-around if that's not possible. liz? liz: we'll be waiting to hear what he says. i can only think i would rather pay tax on 50 grand than pay 50 grand. right? listen, we've got a lot of problems with student loan debt. thank you so much, hillary. all right. you can see that we have seen people testing the microphones at the moment so we will keep you posted on what comes out of that speech. in the meantime, the major averages as they speed toward
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record closes on the vaccine news. we've got to show you how those same headlines are actually pushing higher, the very sectors hit hardest by the pandemic. look at travel and leisure stocks. they are huge winners at this hour. the cruise lines, carnival up 9%. you can see some of the restaurant names, hoteliers seeing gains. united airlines jumping 4.5%. then of course, you can't forget dine-in restaurants. the home of applebee's and i-hop is jumping 8.25%. but what about the stay-at-home stocks which were major beneficiaries of the lockdowns and working from home orders? they are swooning, in some cases not too dramatically. we've got zoom down about 1.7%, fastly down 2.5%. but look at the online retailer far fetch, down 4.5%. but with that vaccine or a couple of them on the horizon, when will we start to see some
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normalcy actually return? here's dr. anthony fauci. >> if we get the overwhelming majority of people taking the vaccine, then you have on the one hand an effective vaccine, on the other hand a high degree of uptake of the vaccine, we could start getting things back to relative normal as we get into the second and third quarter of the year. liz: okay. second and third quarter. that begins in april, guys. to our floor show traders. are we watching every development to anticipate the next big opportunity, scott, because dr. fauci says possibly april, five months away. do you leave the stay-at-home stocks or are there still some that have gas still in the tank? >> well, the stay-at-home stocks started to anticipate this about a month ago. if you remember, peloton was at $130 and today went below $100. zoom was like i think at $580 and went to about $360. i do think that from here, they may bounce but those bounces are going to be sold. these stocks in my opinion have
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made the high of this year and probably don't get above that high next year. what you want to do is you want to kind of rent them. you want to play little dips but make sure you don't get caught chasing those because chances are they will be making lower lows. what we did talk about last week, if you remember, was you want to buy some of the airlines, the banks and cruise lines only on dips. this is almost like a deja vu from last week. remember we had that gap up, it sold, it was too exciting, too much bullish sentiment. if you bought some of those airlines and banks and cruise lines into the weakness last week, today you were getting paid. i think you should do the same thing. not on strength, only on weakness. i think investors could accumulate the jets which is an etf for the airlines, only on weakness. if you want to choose a bank, choose bank of america on weakness. of all the cruise lines, go with norwegian. i'm told it has the best balance sheet but only on weakness. if you do that, coming into april, i think investors will make a lot of money.
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liz: jets right now, 3.3% to the upside. phil, which stocks do you think that have been actually crushed might boom again? you want to buy ahead of it, right? scott told us last week watch out, because some of these stay-at-home names are going to start to degrade just a little bit. what would you buy now ahead of that second to third quarter normalcy? >> i think if you are picking a sector, you want to look at energy and industrials. obviously those were really beat up. those are global names. as you look around the globe, you can look at what's happening in china. they got great data overnight. japan, great data. but you know, the normal stay-at-home stocks, the ones we have all been watching here, try to find ones that will make money whether you stay home or whether you go outside or whether you go back to work, right? i picked out three names that have done very well at the stay-at-home level that i think will do really good even if we open up. one of them was nintendo, believe it or not. everybody has been at home playing video games. the nintendo switch is a real
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hot customer right now. it's a game where you can play it at home, you can take it with you, bring it to work, when your boss isn't looking you can plug it in, you can continue the game. it's awesome. the other thing is amazon, right. amazon, if everybody is staying home for christmas, everybody's going to be shopping with amazon. so this stock is going to benefit whether we open or close or whatever, amazon is here to stay. i think we are going to get a big holiday bounce on that. if you get any dip on amazon, that's it. i think best buy is my third one. i think this is going to have an incredible holiday season right now. people are going to be at home and the reason why i look at the new home sales, they have been explosive. everybody is buying a new home. continuing home sales. when they get into a new home they want everything new. new tv, new appliances, you name it. i think they're going to have a great quarter. liz: scott, phil, always good to have you guys. what a day, everybody. you've got to stay with us.
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we could see four all-time record closes. the coronavirus pandemic is causing thousands of companies to shut down but one vegas casino has actually just held its grand opening. complete with the largest sportsbook in the world and six pools with swim-up bars. the ceo of circussports is going to show that to you next. with the closing bell ringing in 45 minutes, and the dow up 327, "the claman countdown" will be right back. did you know you can go to libertymutual.com to customizes your car insurance so you only pay for what you need? really? i didn't-- aah! ok. i'm on vibrate. aaah! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪
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liz: we have a fox business alert. you got to take a look at bitcoin. it is bouncing at this hour higher after citigroup's foreign exchange unit sent a note to clients calling for the original cryptocurrency to hit $318,000 per coin by the end of next year. right now, we're at $16,803. still above $16,000. okay. we're optimistic here. that number, citi says, is based upon comparison to past bull runs for bitcoin. in another potentially bold
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time for cryptos, former commodities futures trading commissioner head gary gensler who has been tapped to lead the biden/harris financial policy transition team, is emerging as a defender and supporter of facebook's libra token and other cryptocurrencies in general. in multiple appearances before congress, he has supported that. he has also given a lecture at m.i.t. and a class there supporting the future of cryptocurrencies. there you see, bitcoin is getting a bump of $425 at this hour. from the green to the red, let's look at online education stocks. they of course are dropping most likely because of the positive vaccine news regarding moderna. k-12 ticker symbol learn down and chegg also taking a hit on hopes for what is expected to be a return en masse to classrooms. some schools have been doing in-person classes but not everybody and it is so touch and go at the moment with spiking
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cases of the coronavirus. trade makes the world go round. asia pacific markets rallied overnight after china and 14 other asian pacific nations agreed to a new trade pact. look at the bump that banding together has given these indexes. japan's nikkei, 225, up 1%. south korea pd ko's kospi index nearly 2% and the shanghai index, up more than 1%. not all asian stocks are enjoying the rally despite beating quarterly estimates on top and bottom line, jd.com slipping right now, 7.5% because of stay-at-home mainstays also falling. we have already showed you those. still, though, jd.com up more than 140% year to date. what else is on the move. oil. phil touched upon it but let's go deeper. crude is jumping about 3% in the
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aftermarket session. it settled earlier at $41.34. we are climbing a bit more, five pennies more on that. this as it appears the trump administration is ready to let oil companies drill in the arctic national wildlife refuge in alaska before he leaves the white house. let's go to cheryl casone with more on today's oil move. cheryl: yeah, the department of the interior said nominations and any comments have to be received 30 days after the federal registrar publishes the document. it's reportedly going to be released tomorrow which means in 30 days, next month, that would happen while president trump is still in office. these transactions could begin. this is big for the energy sector. take a look at some of these stocks today. of course there's other news in the energy sector which i will get to in a second but as you can see, valero, conaco, chevron, big moves in all these stocks. another piece of the story, oil prices surging, you showed that contract at the top. this is another wind in the
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sails of these stocks. prices shooting higher after the breaking news before the bell today that moderna's new vaccine candidate was effective at a 94.5% rate. that's an overall market positive, whether it's air travel, ground travel, just the economy that gets a shot in the arm, all of that is oil positive. one analyst said crude looks ready to run higher but the contract may have to wait until the virus is under control in the u.s. and europe. this might be a longer term story as we watch oil. additionally, i want to take a look at exchange traded funds that track the energy sector. big gains to show you here. look at spdr xle, up 6.25% right now. the vanguard energy etf also higher by 6%. still energy as i send it back to you, still the most beaten down sector of 2020, but there could be light at the end of the
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oil tunnel, if you will. liz: we need to see a very bright light tend at the end of tunnel. thank you very much. you heard it here first. we profiled green power motors on friday. look at the stock today. up nearly 30%. why the major pop? it announced it has sold six electric school buses to a california school district. they are electric powered vehicles with a range of 150 miles. terms of the deal not released but the stock is being released big-time. there it goes, up 30 full percentage points. up next, vegas-bound with the ceo of circa sports. yes, i will show you the swim-up bars in the six pools they have and the sportsbook and more. dow jones industrials on pace to close at an all-time record, up 378 points. we'll be right back. (harold) twelve hundred strings of lights. (betsy) quarter mile of tinsel. (harold) and real snow all the way from switzerland.
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liz: oh, i'm sure a lot of ceos just like you guys out there had pre-pandemic visions and grand plans. here's one. throngs of people frequenting casinos along the las vegas strip with sports betting emerging as the brightest current spot in las vegas' 115-year history downtown. now with the latest covid-19 vaccine news, could this be happening again sooner rather than later? the owner of the circa resort and casino is betting on that. the first adults only property in sin city opened last month. talk about timing, right? it's home to circa sports with a sportsbook touted as the world's largest. a stadium swim, that's a six-pool amphitheater with a gigantic l.e.d. screen for sports lovers. the man behind the property is right there, ceo derek stevens.
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whoa. derek, this was a five-year dream project of yours. you are cooking along and suddenly just at the point where you are entering the final year of building, the pandemic hits. what was your first thought? >> well, i think it was a thought that i think everyone had. everyone was obviously very worried when it first came out. no one anticipated the length and severity of what was going to happen. we were fortunate, we have two other operating casinos in downtown las vegas right on fremont street. we have our operating team that was able to handle all the different directives and make adjustments. when we got here to october, we were able to open up circa, we had gone through a number of adjustments and things like that. we got to the point where we were just excited to open and we would open in about three weeks and i can tell you, business has been pretty robust. liz: describe it. tell me your numbers, tell me what's going on, what kind of
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population you're seeing here. you have also what is being touted as the largest sportsbook in the world. there's a 78 million pixel screen, i believe is that behind you there? this is fascinating. talk about how many people it seats and what it can offer. >> yeah. we opened up the world's largest sportsbook here at circa and it's a multi-tiered location, three stories. it's got a mezzanine which we call the overhang, it's got tiered seating. 78 million pixel screen that you see over my shoulder. that's when people ask about what about the legalization of sports betting all over the country, are you worried about that. i always said no, not really, because when people come to las vegas, everyone will want to see the world's largest sportsbook. so far, it's been very busy. we have been selling out. obviously it's socially distanced at this point, but we have been selling out so that's
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been great. then with our new product we brought in, stadium swim, yeah, six heated pools, outdoor venue, o outdoor, lot of sunshine in las vegas, holds over 4,000 people. we were sold out all weekend. it's been good. again, we are open at 50% capacity. liz: i was going to say, you are limiting. okay. 50% capacity. you're crazy. you and your brother are nuts. who does this? six pools and swim-up bars. again, i like the temperature-controlled part because i'm a little baby and i need it about 86. what about the adults only part of this casino? >> yeah. there are so many unique things about circa las vegas. right now i'm doing this for the first time in our television studio here so we've got a lot of media involved and we've got some policies that i think kind of work for today's vegas
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customer. over 21, yeah, it's important because what we're doing is id checking everyone at the doors. what that does, it just makes for a better customer experience. we no longer have to i.d. someone if they go up to a blackjack or dice table or one of the bars in the restaurants because they know everyone inside the venue is over 21. we think it was worthwhile for us to give up a little bit of potential hotel revenue to really create a better customer experience for everyone. yeah, we're happy we were the first ones to do that. liz: well, it's really kind of cool, actually, because we can see over your right shoulder, our show. if you take the wide shot on this, i don't know if you can, but this is great. i don't know if we have ever been on a 78 million pixel screen there. there you are. great to see you. good luck to you. thank you so much. we will be watching this. we love entrepreneurs like you who take big chances. high risk, sometimes high reward. thanks, derek. good to see you.
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hundreds of millions of covid syringes will soon be filled and ready to inoculate the world. what's the hidden trade for that? could it be the u.s. company at the forefront of global needle and syringe disposal? a fox business exclusive with the ceo of stericycle on how they are right now preparing for the onslaught. with the closing bell ringing in 26 minutes, records abound. the dow, s&p, and the russell are all on track for a record, same with the transports. nasdaq jumping too, up 63 points. we'll be right back. metastatic breast cancer is relentless, but i'm relentless too. because every day matters. and having more of them
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very top he called on congress to come together to pass a covid relief package, while also saying he would not hesitate to get the vaccine when it becomes available. he touted a fairer tax strouctue with corporations quote, paying their fair share and no government contracts, he said, will be given to companies that don't make their products in the united states. another major note that we need to get to you here. biden says he will have a $15 minimum wage nationwide. some states are already there. they have already passed that. we want to bring you any other headlines as the president-elect answers questions right now from the audience. right now we are looking at the markets, still jumping. dow up 355 points. all it needs is a gain of 71 for an all-time record close. meanwhile, to the logistics of administering and storing the covid vaccines. there are two major challenges everybody is talking about right now as we await widespread distribution but with both pfizer and moderna's vaccines requiring two shots, what
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happens to the hundreds of millions of needles, syringes and ppe once the vaccine arrives? that's where stericycle comes in. the company treats and disposes of over 1.8 billion pounds of medical waste in 18 countries annually. the ceo cindy miller joins us now in a fox business exclusive to open a window into how stericycle is preparing for the onslaught of syringes. i can only imagine. what are you guys doing there? >> liz, it's great to see you. thanks for having me back on the show. i think as stericycle prepares itself moving forward, there's a couple things we learned prior to vaccine in terms of testing. so one of the things we do every day is obviously take care of traditional health care places, doctors' offices, emergency rooms, hospitals, urgent care clinics, and what we have learned from the first portion of this pandemic, once testing
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became widespread and let's be honest, millions and millions of people have already been tested, but they have been tested in untraditional kind of places. retail parking lots, drive-through testing experiences. so i think that has taught stericycle an awful lot to prepare for vaccine distribution. because it's one thing about making sure the logistics of the vaccine gets to where it needs to and it's another thing as you have said for us to make sure the logistics of the reverse of that. what happens to those needles, are we prepared, and i think those are the things we are looking at right now in terms of preparation. i can tell you, our engineering team, our operations teams are at it night and day in playing out various scenarios because what we have got to make sure of is that we have adequate sharps containers, we have to make sure we have adequate capacity in our facilities, that our fleet is up to speed, that we are staffed
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accordingly and that we are preparing to handle what could be really great news for the world and stericycle stands at the ready in order to be ready to facilitate that. liz: can you gauge how many syringes and needles you expect to have to grind down and to incinerate to properly dispose of these vaccines once they are done? i'm thinking you can do some type of math. you've got some type of algorithm which can give you a sense. what does that mean? will you be hiring? will you be dispatching all kinds of workers to different areas that you say are non-traditional, say dodger stadium, wherever they plan to give this vaccine? >> yeah. those are great questions. ones that we certainly are thinking about. just to put things into perspective, we divert from landfill about 56 million pounds of plastic every year. so that's an awful lot of plastic. that's an awful lot of syringes. that's an awful lot of work we
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do to help protect the environment. when you are talking about a two-shot type of vaccine, what i can tell you is we are rolling out scenarios that talk about, you know, is the vaccine going to be made available, does it start with health care workers, is it going to go to elder care facilities, you know, is it going to roll out geographically, how is it going to play out certainly here in the u.s. but around the world. so we are rolling out different scenarios to make sure that a couple of things we need to facilitate. the speed at which we will be, you know, making the frequency of our visits to clean out any of the bins for replacements, so we are well on our way to preparing for that. it's exciting times. liz: yeah. i would imagine. your stock is at the highs of the session right now. you are jumping about 3%. i know that you topped q3 earnings and revenue estimates but we are watching this story very very closely.
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good luck to you and the team. thank you so much for joining us. cindy miller of stericycle. nice one-month picture here. we'll be right back. businesses today are looking to tomorrow. adapting. innovating. setting the course. but new ways of working demand a new type of network. one that's more than just fast. you need flexibility- to work from anywhere. and manage from everywhere. advanced technology. with serious security. and reliable coverage, nationwide. forward-thinking enterprises, deserve forward-thinking solutions. and that's what we deliver. so bounce forward, with comcast business.
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liz: telecom giant at & t announcing that its streaming offering hbo max is finally available on all amazon devices given the digital service a whole new avenue toward subscriber growth but worried still over increasing content competition and massive debtload have investors looking at ceos of at & t's c-suite past? charlie, who, why? what's going on? charlie: this is getting interesting. listen, this is a big deal for
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at & t getting the amazon deal finally done. but i can tell you that investors believe the integration of at & t with time warner which is now called warner media, the paring down of its massive debt which is $150 billion or more, and deals like this with amazon is just not happening fast enough for them. they look at the stock price, barely has budged in recent years. they look at all the money that the combination of randall stevenson and john stankey, used to be the number two, now the ceo, they look at all these deals including directv, $45 billion and the time warner deal, $85 billion, and they are saying what is going on here, what is the strategy. we do know this. investors are complaining to the board of directors about the strategy of stankey and
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stephenson. stephenson stepped down but he's still around, still' key player, from what i understand. they want more change, less debt, they want more of their -- of properties that are not synergized with the other properties, sold off. they are also beyond mad about what's going on with directv. we should point out about five years ago, they bought directv for something like $49 billion. if they get $9 billion now for any type of deal, they would be lucky and they can't do that right now. as you know, directv, the satellite distribution arm of the company, is bleeding subscribers. so what's going on. in times like this, you have investors making all sorts of recommendations to the board. one of the interesting recommendations that i heard, and i got this pretty much confirmed, that this has been a recommendation, is to bring back the long-time ceo, ed whitaker,
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in some capacity, maybe even make him an interim ceo, because there's real doubts among investors that stankey and company can pull this off. look at it this way, liz. why are we hearing about the potential sale of cnn? they shouldn't have to sell that. that was something that the network makes money. liz: but. charlie: but, it could probably get a premium for it. they can't get a premium for their other properties and they have $160 billion in debt. one of the problems with selling cnn is sort of unwinding it out of the bigger infrastructure is not that easy and also finding a buyer. there aren't a lot of places that have -- that where you don't have antitrust concerns so that takes out tech and other media entities, and you can spend $10 billion which is what it would cost. that's why jeff bezos on his
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own, as part of his media empire that he has with "the washington post" is thought of as a possible suitor, although i have been told by mr. bezos -- people close to mr. bezos that it's not happening. so that's where we are right now. this is a company that keep an eye on them, it's got big problems, it has an activist she investor in elliot management which isn't currently supporting management and we will be hearing a lot of this. that's why you will keep hearing about a potential sale of cnn even if it's difficult if not impossible to do right now. back to you. liz: charlie, thank you very much. charlie gasparino. okay. could covid vaccine hopes pressure online retail? well, it is happening right now but our "countdown" closer has the brick and mortar names he says will give your portfolio door-busting worthy profits just in time for the holidays. you want to buy when they're low, folks, right? with the closing bell ringing in eight minutes, the dow just
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♪. liz: closing bell, we're four 1/2 minutes away. we are on the verge of history, folks. the dow, the s&p, the dow transports and the small and mid-caps, russell 2000, all about to close at all-time highs. don't move. okay. let's hope we didn't jinx that, right? big week for retail earnings starting with dow components walmart on track for its fourth straight record close by the way. home depot tomorrow. retail feeling the squeeze during the past eight months of the pandemic but is the space now the investment opportunity? let's bring in perry. senior director manager of b. riley with 10 billion in assets
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under management. you're saying buy now at the moment, not people are suddenly rushing in all vaccinated? >> that's right. good afternoon, liz. that is exactly right. the vaccine will take time to work. it will take time to distribute so therefore now is the time. liz: now is the time. all right, so what are your favorite names here in the space? >> so the, talk about some of the subsectors of retail. i really like consumer electronics, mass market as well as discount retailers and when i look at those three sectors i think they're all wound in together. so for consumer electronics i really like best buy, bby. they have, they have really gotten their distribution right. 25% of their online deliveries are from, or 25% of their stores are used to make online deliveries and their online sales were 40% up in the second quarter. i think target is also, tgt is
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just an incredible company. they are expanding their brands. they know what the customer wants. they see what the customer likes to buy and even in the stay at home environment their apparel sales have been incredibly strong. and they also have bopus buy on line and pick up at store. they have that down pat. a whole area in front of the store. that is easy to do, they made the customer experience, always been key for successful retail to, they have made that work very well. and then last -- liz: yeah. i know your last one is tj maxx which has had a little bit of a difficult time during the pandemic. i mean i've gone into tj maxx to look. it has been hard, certainly but the employees are social distancing. the plexiglass. so you like the strong traffic
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now in stores. you get in early on some of these names. perry says that's the way to go go. we're about to close, perry at four brand new records. >> that is amazing. liz: do you like the markets or is it getting a little toppy? >> i think the hope that the vaccines bring is a very good indicator of where the markets should go. there will be ups and downs. there will be disruptions. we'll have a new president soon. that always gets bumpy depending on who his cabinet will be. nonetheless i think the market is, at all-time high, it doesn't mean that, that is an anomaly. it could keep remaining strong. liz: perry, it is great to see you. perry mandarino. i got to tell you, guys we're making a run for the dow, not only the record but session high right now. session high, a gain of 463. we're up 451.
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it is a a quadfecta there is racing term i don't know if that is correct. s&p, russell, dow transports. you can thank moderna, 94.5% of efficacy. what a great day tore science. connell: it's a record-setting day on wall street. stocks surging throughout the day. moderna with the announcement that the coronavirus vaccine is nearly 95% effective in phase three trials. we were off to the races with that. the dow closes at the time. it is all-time high. closing at a record for the first time since february. it has been a while for the dow jones industrial average climbing closer and closer to that 30,000 milestone. looks like we'll be 50 points shy or thereabouts. 29,952. that is a big day. it is the second straight record close meantime for the s&p 500. the nasdaq 150 points shy or so. it is u
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