tv The Claman Countdown FOX Business January 11, 2021 3:00pm-4:00pm EST
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ago now it is two, it's not an internet newbie it's a largest theatrical movie thing here in the uk going. charles: i love going to the movies, i hope you're right, congratulations on the new job and title and all the great stocks you picked for his last year, we are holding in, that is the most i say but better than how we started. liz: indeed, that is true, some of the index might make a run for the greenline, breaking news as the house pushes ahead toward impeaching president trump for a second time, the list of business names stealing off their political donation wallets, blacklisting politicians and platforms they blame for the event leading up to wednesday's deadly capitol hill riot is growing, wait till you hear the newest names in just the last half-hour, in the meantime the selloff, it was in full swing earlier immersing in
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a big of a moderating effect, it is hitting twitter specifically which band the president, they got hit the hardest, that got his supporters screaming censorship but do they have a case, we've got the first amendment attorney who sued and won one of the biggest cases involving twitter and president trump, fox business exclusive, speaking of blacklist, the new york stock exchange has made it official after flip-flopping all over the place on the trump administrations order, the night he has delisted once again three telecoms, three chinese telecoms and that sends investors into confusion, goldman sachs former vice chair bob who served in the state department is here on this developing crash between d.c. and wall street, how the biden administration might differ when it comes to chinese equity. we are seeing profit take on wall street in the final hour
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after market close at record high on friday but the bitcoin bloodshed is celebrating this final hour after friday hitting a record high of 42000 of crypto currency getting bashed to the tune of about 19% we will tell you what might've triggered that u-turn. let's get to twitter and facebook stock story, the business fallout in the wake of deadly rising capitol hill consuming shares, both are slumping, twitter down six and a third%, facebook down 3.6%, after permanently in the case of twitter or facebook indefinitely suspending president trump from their platform, twitter has lost nearly 5 billion in market cap value so far this session. flip it over to amazon, apple and google there involved all in the red after booting social media platform parler i favor of
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the writers detected capital, they kicked parler off its app store, amazon booted parler off its web hosting service earlier this morning. parler is now suing amazon, although this action raising questions about freedom of speech and the role big tech plays in this game, attorneys from the first amendment institute and columbia university have successfully argued cases involving twitter president trump katie fellow is one of the lead attorneys, joining us live with senior research analyst dan fox who covers a lot of the stocks. kadian going to start with you, the first amendment protects people speech against government censorship but it does not require any private entity or company to publish or disallow people's viewpoints. but knowing their power and control due to their size are we at a watershed moment where they're banning voices or anything close to violation free speech? >> that you so much, an initial matter it is clear that
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twitter's actions in suspending president trump's account does not violate the first amendment because as you said the first amendment only constrains the actions of government officials or government entities and not private corporations. the courts have long held that private corporations like twitter have their own first amendment right to the side which speech they want to carry or not carry. beyond the first amendment legal question there is a question about the free-speech environment more generally not just the first amendment and not the requirement for it. i do think twitter's action while it may be justified with its un-policies and reasonable in the light of the events of the last week do raise concerning questions about the power that the very small number of companies have over in enormous amount of speech from billions of people across the
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nation and across the world. liz: i want to make our viewers aware why what you are saying is so incredibly significant, that is because you are the one who argued and sued president trump after he tried to block certain followers on his twitter account, you successfully sued because you said he is using it for official business and announcements like you he's firing or how he's feeling on any given day on certain policies and you can't simply ban critics who follow you, my question is do you allow these companies to silence voices? >> those two issues are very different, our case and twitter's action in suspending trump or this fundamental reason that the first amendment only restricts the ability of government of whether the government can censor speech,
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and her lawsuit against president trump we argued in the courts held that president trump and his white house aide used his twitter account as a public reform in a virtual town hall where he spoke of the virtual podium and all of his millions of followers could reply to him and because he was a public official he was hosting this public forum and the first amendment has long been held to mean for instance in open public meaning in the city counselor cannot kick out someone because he does not like what they have to say so the court tells president trump violated the first amendment when he blocked the followers. liz: the stocks are getting hit, i'm not sure to worst hit in the world, when you look at facebook, facebook is still up 22% year-over-year, twitter is also considerably higher year-over-year about 56% going
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into today's session but are these stocks becoming a little too dangerous at the moment questioning. >> i think if we look at the issues around whether these platforms are used to promote violence, that is obviously concerned i think all these platforms including facebook, twitter, google need to invest more in technology tools and artificial intelligence and bring a greater level of transparency and communication with society and with their users, i do think the sector continues to remain investable but there is certainly a lot of responsibilities along the esg front, clearly to keep innovating that is required to create value for the stakeholders including their shareholders over the longer-term. liz: amazon is getting sued by parler, the twitter alternative for a lot of very conservative voices who said there gonna be
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an president trump, were going to leave, twitter did lose at least anybody can look at their own twitter account and see that they lost some followers, again i would like to put this through the lens of the fact that this is a business network, will anybody is whining about lost followers with five people dead whole different story, as we look at it through this, can parler sue amazon because they had a deal for amazon web services to be the server upon which parler operates, now amazon says were done with you. >> not having seen the complaint, certainly if they do have a contract they may be able to sue on that, what you're seeing on these private companies making decisions based on either politics or market forces and to some extent the marketplace, if one company does
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not want to do business with another company, that might be well justified, on the other hand when you have companies that provide the infrastructure for how a new social network would provide web services, that does create serious problems about whether or not you essentially can stifle certain kinds of speech by withdrawing the underlying facilities so they can't run the sites, the best thing that should be encouraged is more competition so you have a few gatekeepers in charge of the speech on these platforms. liz: youtube which is a part of google has banned or suspended any of the stuff coming on their side, we can put that graphic up again, shopify, that was interesting, is a broadcast that spotify is banning, all of these names, are they all at the same
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level, at least publicly traded ones where you say be careful, the trading in quicksand. >> what we try to do, look at each one individually, obviously the different business models that each of these companies has what we sit back and think about what's going on there's a responsibility to the societies they operated and we appreciate that with the countries operating in different expectations, the key, where a company -- there's a lot of user generated content and aggressive or violent suggestions that unfortunately as we saw on the capital have real ramifications they do have a responsibility to take it down in the case of parler it makes sense but these issues are fluent and it probably makes changes with other went in there going to
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come back, the other key thing the fragmentation, the big platforms around on and they are going to surge in different places, so it's fluid but we do think the space is investable longer-term. liz: summary taken hit, almost all of them that could be the overall market, katie fellow and dan flax as always great to have you, social media companies are not the only big business is distancing themselves from this fray, vertically from politicians, these are the latest names in the last half-hour, ups and airbnb just cut ties with anyone involved in challenging the electoral college results. when we say anyone i am assuming cheryl, the senators were the house members and this of course involves donations, particle donations, more. >> companies make those
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political donations, in response to the capital riot and some lawmakers opposition to the certification of the electoral college vote, several major corporations are pausing political donation in just the last couple of hours, we heard from goldman sachs, mastercard, american express, dow, microsoft and facebook there will be spending political donations in the doing it differently but the game is same, we started with citigroup announcing contribution to the first quarter of 2021 and they will not support candidates who do not respect the rule of law, ceo michael corvette condemned the violence of the capital saying he was disgusted by the actions of those, that storm the capital. commerzbank saying as is been a contribution condemning violence in any form, blue cross blue shield suspended contribution to 147 lawmakers against the certification of the electoral
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college, marriott who donated to josh hawley, j.p. morgan chase, also pulling that, ceo jamie dimon said in a statement obtained by fox business, i strongly condemned the violence taking place in our nation's capital this is not who we are and the people as a country we are better than this. he also added elected officials have a responsibility to call for an end to the violence and accept the result, morgan stanley by the way and microsoft said contributions initially but they will assess the implication of the events from last week, american express is reviewing all future political contributions, dow suspended all corporate employee contributions to any member of congress who again voted to object to the certification of the presidential election in an election cycle to be clear it can be a long time and senators, facebook pausing all contributions for the quarter and then they will do review mastercard and forward to
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spending donations, i told our colleague charles payne if there's any company that will continue to make political contribution at this point please reach out to fox business, the list has been growing and growing hour by hour today. liz: it is definitely a developing story, what is interesting the different, some are saying were only stopping donations to people who of course politicians and said they were not going to certify the electoral college votes and some are saying in the case of 3m, this is breaking we are not making any political donations, here we go, 3m will not be making any political contributions for the first quarter of the year, 3m will reassess its political contribution policy in april of this year. the stock down three quarters of 8%. thank you very much, we've got
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the market after hitting multiple records last week could the equity engine be starting to overheat, one investment in particular looks like it's starting to smoke, take a look at bitcoin, we knew the bitcoin engine was running hot after crypto currency jumped $23000 over a span of two weeks, is this a sign as it pulls back rather dramatically, is this a sign you should raise the hood on your portfolio and scrutinize what is going on, the traders are about to play mechanics to tuneup your investments, the closing bell were about 45 minutes away, dow jones industrial down 71-point, we're coming right back. when a hailstorm hit, he needed his insurance to get it done right, right away.
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major or some of the industries kept closing at record highs, look at the dow, wednesday, thursday, friday, is flashing morning life on the dashboard, bitcoin pulling back, here we go on the price down nearly $8000 at the moment to 31884. remember last week it was $42000 after uk financial regulator warned crypto investors said be ready to lose all your money. overall what signals are we seeing from today's red arrows, is equity engine running too hot, scott rattler, any of these levels starting to concern you and where would you tinker with this when it comes to investments? >> last week is strong week in the market, and a cup located headline, if you would've said the market would've been at all-time highs i'm reading the headlines abouthe capitit ialnal eoe bthe wthav ae,otf o peoeopl
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ffsasasaer sposeupposeupseupup , ff anday t iododots s n nacok, wo r is is ver isonst civ cect cct ce 3760 i s a m mtu,el,e,, ld ehe tarly t mhiorsnihi, wng wele ov oveoveoveeee it w saw lf stocks gom rrooro tro troroen g tre t e ders ederydeeee mdi m cashlow fi trtro tinoond figurefi fi the texex actn scarasedasednnn whantns s sure you knownon trsdae t tss aa prent-enenn going g toe c eing out wut aut a slus ngsese going b bty hefty, what i'm thinking look at walmart, target is at all-time highs, walmart is well-off and ties it just pulled back from the 153 area, they're trying to create cash will, walmart at these levels are pretty good risk to make your engine for the week to give it
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some gas. liz: scott, i'll get back to you, why not materials if there's going to be some type. [guifpeople get the checks are g to go to walmart or target, what do you see out here? >> i like to tinker with my markets, i have my little screwdriver, i am a by the brakes kind of guy in a still and from u.s. stock market, i still think it's going to do good but i think it's time to tinker a little bit, i'm pretty much recommended 100% u.s. equities, go strong, go long like the browns did yesterday, i think now is time to look offshore a little bit, there's going to be more risk to the u.s. for regulations coming online, there will be higher taxes potentially down the road and for maybe 100% u.s., i'm
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probably going to start moving 25% overseas, and easy way to give reports portfolio people is to beyond the fun, that might be an easy way to do it, the other thing i am really getting very bullish about the potential for energy, not only the stimulus but the lack of investment in what were hearing from banks that they will not lend money to energy companies if they want to stay green. i'm really concerned about the underinvestment in the energy space which i think will come back to bite the global economy, later this year or next year, i think that's one of the biggest concerns i have about the risk to the economy in 2021. liz: the economy in 2021, how much worse can it get, let's say it gets better with the vaccine, scott led their, phil flynn,
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what's the future of capitalism, charles payne will cobbl wednest 2:00 p.m., have your questions to invested in europe foxbusiness.com. we might put them on the show, skiing facing a big lift in the pandemic. the uphill climb ski resorts are making to keep from tumbling down the slope as covid snows in the travel industry. closing bell ringing and 37 minutes. the dow is down 90, the low of the session is a loss of 265, were not close to that at the moment. ♪
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stocks, nio charging higher than more than 7% after the chinese maker introduced his own answer to the tesla model three, they're calling it the et seven, this is nio's new sedan comes equipped, you're seeing the big dramatic unveiling that the auto companies usually do, comes equipped with a powerful battery pack but it can double that of tesla's long-range model three but the car enhanced autonomous driving features which will be fueled in part by nvidia chips, that is why nvidia is on the screen higher than 2.6%, j.p. morgan also hiked his price target to 75 bucks, nio at 6282, it is up 820% right now, year over year. coming up wednesday speaking of nvidia, the soon to be nvidia family members, the ceo of architecture giant arms holding joins us on fox business on "the claman countdown" on his role the chipmaker would play nvidia's drive to the a.i.
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throne. the new competition from nio and nvidia in the looming potential partnership between fido taken a toll on elon musk electric kingdom shares dipping below the 800 billion-dollar market cap level, tesla at $805.93 but down eight half% despite bank of america price target hike to get $800. bac you're a little late at 800. 806, the brakes after friday's runner. apple inserting itself into more work than one conversation at this hour and day extending games from friday, up another 28% even after walking back confirmation of ev production talks with apple to create an apple cart of some sort but the halo effect not reaching
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mercedes owner despite reports out of china that the luxury carmakers are engaged in talks with the eye empire. joining apple in the red right now, apple is down 2.5%, dine were down 2%. we've been talking so much about the new world post pandemic, keane fulfills pandemic criteria, outdoor, socially different ski list and skiers covered head to toe in gear and maybe even masks, after taking a hit in 2020 what is the outlook for the sport this season, joining us live from the slopes, and grady trimble, you brought, deer valley resorts and park city utah, just so you know i have met and picked pass already, i'm going to be skiing in vail at some point but it comes with a lot of caveats doesn't. >> things have changed out here at the resort with the outlook is still bright you can see
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where a beautiful deer valley and i'm going to take you for a spin as we tell you about the changes, obviously first and foremost you got to have a mask unless you're actively skiing like we are right now you have to have your mask on that means and lift lines, restaurants, lodges if you grab food on the mountain, all those places you have to have your mask on but they're trying to show people you can ski and snowboard and social distance all at the same time, a couple other changes, you mentioned your epic pass were at past resorts that accept the icon pass, here at deer valley in particular anybody with an icon pass or a season pass is able to come any day that they want to but there limiting one-day ticket sales and not doing walk-up lift tickets at all. if you want to ski at a vail resort which is a separate company you have to make a reservation in advance, some
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things to think about your planning your trip, you can see out here as were on the mountain it is really easy to social distance, very easy activity to do and even gavin newsom in california said we have to keep the mountains open so people can exercise and stay sane during these crazy times, i should also mention a few of the trends that are seen at deer valley, a lot more people are coming in their cars as opposed to flying in and traveling near and far like they normally do. were also seen lodging numbers down a little bit but by and large it's been a great experience out here today, today i was at park city which is a vail resort the other day and they're keeping things going even though we had to adapt a little bit and make some changes. liz: who is the photographer, who is shooting this, bravo to them, that is amazing.
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>> he is a talented man, i said we need somebody who can shoot and ski at the same time and he has risen to the occasion for sure. liz: it is true and we shall see but there limiting the numbers on the slopes, i see there is nobody on that run i love those runs there fantastic. thank you so much, great job. you need a little bit of fresh air after all that we've all been through. eli lilly on pace for a record close after announcing the phase two alzheimer's drug shows a significant slowing of decline in causation and daily function in early stage cases, lily is jumping 87%, that is good news. chinese telecom in the opposite direction it dropped three of china's biggest stock names at
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4:00 a.m. eastern, former secretary of state for economic growth is here on the fallout and where the trump battle with china heads under the biden administration. 26 minutes away from the closing bell, dow is down 100 and nasdaq down 178. don't move. ♪ everyone remembers the moment they heard... "you have cancer." how their world stopped and when they found a way to face it. for some, this is where their keytruda story begins.
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liz: in the remaining days of the term presidency one more shot at china, today at 4:00 a.m. eastern the new york stock exchange officially delisted china telecom, china mobile and china unicom shares it comes after president trump signed an executive order in november banning american investors from investing in chinese listed companies on american exchanges that the
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administration accuses of financing china's military. in a fox business exclusive former secretary of state for economic growth and also former vice chair from goldman sachs bob poor max joins us now, meaning to director at tiedeman advisors. the push and pull of you should be and, yes you are not another officially delisted, what message does this send to investors. starting with confusion and sends a message that the administration wants to put pressure on china and it is done this to indicate his displeasure with china for a whole variety of reasons, the actual economic impact on china or the three companies is not enormous but symbolically it has certainly been one of many signals the administration has sent in its unhappy with china and wants to
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take action against them or chinese companies. liz: is sort of ceremonial to try to hit china from a military level but you are saying investors who own these stocks were more vulnerable to any negative effects in the u.s. >> the investors will be forced to invest of those stocks and now some of the companies that are dealing in chinese shares or chinese financial products has also said they will not trade in derivatives that hold the shares it has the initial effect of having impact on the holders of the shares in secular on the derivative market that benefits from or holds the shares to. it is confusing because the government and the exchange have both not been clear as to why
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these things are done and done in this particular timeframe. liz: there was concern or word that ali baba stock can be hit because hourly pay has been hit by the administration as an organization and a division of ali baba that should not be invested in, there is question about ten sent which is the videogame and entertainment outfit but they have some major businesses and operations and my question right now, there is nine days left of this administration, post nine days how will the biden administration be handling china and will he go directly for the stocks and hit them below the equity belt so to speak or if you could go inside his administration mind before it even starts, does he have a different tack? >> it's unclear what tack he will take and my guess i don't know if this to be certain but
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the probability is that he will first work with our friends and allies in the region to find out what they are doing with china and to see if we can make common cause with them and second i do think he is in a box and some of the actions of trump administration has taken vis-à-vis china, biden has taken tough positions on china verbally but obviously he's not the president so he has not done anything that directly affects china whether he can reverse the kind of things that trump administration has done or whether he wants to remains to be seen he might want to reverse some of them but probably not all of them and if he wants to be a tougher negotiator keep a few of them, maybe not all but a
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few as leverage to get the chinese to do more of what he wants which is production in intellectual property, production of trade secrets, agreements on how you deal with information, privacy of information, what to do with individual american investors to make sure that they have rights in china that are fair. liz: we have breaking news, the state department has designated cuba as a state sponsor of terrorism of course that is the opposite of attempting to open the doors between cuba but the obama administration had worked for, where does that leave u.s. cuba relationships in the businesses that have put in place efforts to build out whether his hotel industry and the telecoms in the u.s. like at&t? >> that is another thing, the
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confusion that comes when you quickly announce things and don't really prepare the market for them is unsettling at best for companies and can cost some monies because they have been counting on policy moving in one direction and it may move in another. this is the first i heard about the cuban thing, obviously companies that have hoped that they could establish a position in cuba will find for the moment that they can, they may find that the biden the administration as a different view on this and they may just wait and not do anything until biden comes in and see what he is administration say it's about these things before they take any action or feel forced to take any action. liz: as we see the current administration is making moves with nine days left, thank you
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or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goes down, your connection doesn't. so how do i do this? you don't do this. we do this, together. bounce forward, with comcast business.
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liz: one relatively major piece of unfinished business for the trump administration is the reform of mortgage giant fannie and freddie during the financial crisis had to be taken under the governments wing but will the white house be able to make any change for that before january 20, charlie gasparino who has been out front in the story tells us what is going on now. >> we should remind viewers and people this is a heavily traded penny stock meaning fannie mae and freddie.
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>> the two mortgage giants that were taken over by the government and the financial crisis, it is been in limbo and in government control since then which is known as conservatorship, trump administration tried to release from conservatorship, get some game plans and release it eventually, obviously trump losing the election puts a monkey wrench into that and right now what we have is impeachment going on with the president, it is unclear if the white house will pick this up and when i say the white house is steven mnuchin the treasury secretary this is what do i get from bankers that are essentially working with the white house, they are telling me minute is going to decide this week what he is going to do with danny and freddie if anything, the likelihood and i'm telling you there is an impeachment process going on here, that slows everything down but the likelihood of mnuchin who has the same in this, the fh fa, mnuchin, the likelihood he releases something in terms of broad guidelines that he thinks
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the future of freddie and fannie should take, how far this goes, i do not know, i've been told the preferred shareholders may not like and maybe overwhelmed is the word that i use by what he's going to do which probably means there's awkward to be -- and probably means they won't release it from conservatorship, it is unclear is what's known the network sweep all the prophets that will never go back to the treasury would stay with fannie and freddie and he may call for that eventually, it is likely according to the bankers to be broad strokes about recapitalization and basically put them on the road if the biden administration wants to release them, that is where we are right now, i see a situation where they do in the network sweep, i don't know if he's going to go that far, i've been
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told this will be mainly broad strokes but broad strokes can be that, this is the week where the rubber meets the road and he squinted to decide if he could do anything, i say if because the bottom line you know what's going on in washington, it is bedlam and there right now and maybe mnuchin just says this is a bridge too far when we have impeachment going on. back to you. liz: thank you, you never know what's going to happen, the pittsburgh steelers, charlie. liz: setting records on the way, knocking the pittsburgh steelers out of the playoffs, the closer has wildcard winners for your portfolio. ♪
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♪. liz: four minutes to go before the closing bell rings on this monday. two more names, breaking news to add to the broking list of companies who are banning donations to politicians who, reevaluating it as well, the politicians who held up biden's electoral vote. bp pausing all donations. we understand at&t is considering reconsidering. so for now taking a pause as well on donations to political candidates. can we get to my cleveland browns? thank you very, this was my old, johnny manziel, how embarrassing. i had every single one of the brown's quarter backs except mayfield because i was concerned. the browns taking pittsburgh steelers out contention. baker and company spanked the steelers in last night's wild card matchup. we have an eagles fan who says he has wild card winners that
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will get you closer step in investing. what happened to your coach, man, doug pederson. >> i'm happy for your browns, i'm excited. my eagles in a mess. kind of like the world it is kind of topsy-turvy. you know what you do when you have confusion. you go back very much like the browns did, go back to fundamentals. in doing that, i want to go through the abcds, the fundamentals of the market. why, i need an expert. like the redhead that you are, i have a redheaded expert in elmo to help us to go through the a, b, c, and ds. tell me where you want to start, liz? liz: i want to start with camping world holdings. >> you want to talk, well, what the message i want to talk to today really is i get my glasses on here, as are accelerated earnings. that is where camping world comes in. the bs what we like biotech,
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life sciences. we know in this world so vitally important as the population gets older. we talk about camping word before. arc sell rating earnings not only what they sell as far as all the franchises they rolled up but in services. in biotech life sciences, i like a company, we like a company called neo genetics. they provide leading diagnostic testing. the problem some of that is pushed out a little, coming back in. it is very high growth story with a 10-year of over 30%. now you and i talk about this all the time, the c, okay. now there are two cs for this. never in our lifetime will spend less money year-over-year on cybersecurity. i think it is vitally important. we've seen how important that is. and you know, i love a company called veronis we talked about before. protects data in your files. big grower. we think it has got excellent
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management and possibly somebody that someone to look at to add to bigger companies to add as you know. we're a small-cap growth manager at emerald. 2,000 companies. [closing bell rings] liz: joe, the small caps have done absolutely brilliantly. joe, thank you very much. red on the screen. time for "after the bell." connell: tech stocks are under pressure today certainly dragging the market down from record highs. we have rising virus cases. recovery concerns continue to weigh in on investors. a fair amount of political risk out there as well which we'll be talking about. look at the dow, the s&p 500 and the nasdaq all kicking off the second week of the year in the red. dow down 89. it was down 265 at the low. it came off the lows. tesla here at the close it finally snaps what was a record 11-session winning streak. last week alone tesla was up by 25%. today down by 8%.
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