tv After the Bell FOX Business January 28, 2021 4:00pm-5:00pm EST
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stocks. you have twin tailwinds of easy money from the federal reserve and fiscal stimulus coming out of washington. [closing bell rings] >> they have to be cautious dawes valuations are high. i would dollar cost average. liz: always good advice. chris, thank you very much. that will do it for us. green on the screen but the reddit crowd is upset. connell: disruption on wall street. stocks are bouncing back today after that big selloff we had yesterday, the biggest in three months and it is a different story today for the reddit revolution. we'll get to it all. at the close the dow is in the green snapping what had been its longest losing streak in 11 months closing higher by 300 points. the s&p and nasdaq both breaking two-day losing streaks. s&p up 36 and nasdaq up by 66, 67 points. the stocks to watch, gamestop, amc, blackberry those stocks in the red today as robinhood and other brokerages stopped
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investors from buying some of these stocks. lawsuits have been filed as a result. congressional hearings could be next. we'll talk about all of that. i'm connell mcshane. welcome to "after the bell" a remarkable few days in the financial world. time for the news happening at this hour. ♪. connell: fox business team coverage, blake burman today at the white house, kristina partsinevelos and gerri willis both in new york and edward lawrence is at a vaccination site in maryland. we'll get to everyone. kristina, we'll start with you on this reddit revolution as we call it. what is the latest? reporter: two can play this game. as you said reddit internet users pitting themselves against institutional investors betting stocks would fall. in the middle weapons are companies like gamestop, however the warning of the volatility of game sop and a lot of these other companies have seen their stock share pretty much plummet
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today, down 30%. we had an intraday high of $483? why did we see complete reversal today? trading firms, brokerage firms, interactive brokers, as well as robinhood restricting trades of these volatile stocks. of course a lot of reddit users, retail investors are very angry. nonetheless they're still gathering in droves on-line for rules, on tiktok, reddit, to encourage each other to keep buying hard beaten, storm stocks. like nokia, like blackberry, like bed, bath & beyond. why you're seeing a trend and massive up swing and a little bit of drop as brokerage firms restricted trading. to retail traders this is less about the fundamentals and more about a fight against corporate america or wall street. this is often what you see in these chats. so the risky behavior is definitely being watched by all.
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you have treasury secretary janet yellen you have congress commenting, nasdaq, brokerage firms, even senator elizabeth warren called it casino. there will be an investigation into this. last but not least you have robinhood issued a statement, yes, they did restrict trading. two class action complaint have already been filed by users against robinhood at the moment. some took to going to the robin hood headquarters in menlo park, california to protest. overall it is an incredible amount of volatility. you have wall street veterans come training retail investors are inexperienced and could get massively hurt if the stocks continue to drop. which is what we're seeing now. back to you. connell: a headline at the close of new york stock exchange, halted gamestop trading. kristina, thank you. it has been crazy to watch this.
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we bring former investment banker carol roth and scott martin from kingsview. you will probably tell me, scott, it is not that simple. as you watch this, who are you with? are you with the main street crowd or wall street crowd? that is how people are trying to separate it. what do you think? >> connell, always the tough questions. it is getting bad. the worst part for me it wasn't too bad at first because things were operating normally. investors out there, call them the retail crowd for now were able to position themselves somewhat synthetically, strategically on option side, not just on the common stock and get in and out of positions as they needed to. the scary thing happening to me, at least in my mind i'm seeing and some people i've been talking to they're getting shut off as far as liquidity. so platforms are starting to turn off the ability for some individual investors to just openly trade the stocks or options, connell. that is where the game is starting to get tilted again because you're getting trapped in trades and not getting liquid
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on things you would have sold today or certainly sold this morning. connell: people are really angry, carol, about the move from robinhood. it wasn't the only one but most telling because retail investor interested in the platform because they basically said folks trading in the stocks, and others gamestop, you can't buy them anymore. you can close out your position but you can't buy them. now lawsuits have already come in. what do you make of what happened just today? >> to me we're living in a modern-day retelling of my favorite '80s moving, "tracing places." just like the movie, wealthy and non-empathetic brothers get beat at their own game. the folks that beat them, it is not about the money but it is about the social story that is the bigger issue here. people feel like main street hasn't sold out to wall street. it has been over and over again.
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people lost their businesses and lost their livelihoods. at the same time last year seven tech stocks gained $3.4 trillion in value. this is a statement and it is a time for self-reflex from wall street, from the investors, from the politicians, from the fed and i fear if we don't see some changes here, okay, we hear you, we understand the frustration and we need to do better here because there is it an unfairness in the way that we've been centralizing this power, that not only are we going to have a fight that happens online but it ultimately could lead to violence which would be a horrible outcome for everyone. connell: i can agree with you on the point this is the same story told in different way. we'll talk about later in the show. more from you guys. right now expanding coverage, president biden signing another executive order. this is reopening the affordable care act enrollment. let's get to blake burman live at white house with details.
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reporter: hi, connell a couple of executive orders today, you're right. the first one as it relates at least to the affordable care act as president biden is calling on health and human services to look at another enrollment period lasting three months. february 15th to may 15th. the president saying this is pretty simple why he wants this to happen. listen. >> basically best way to describe it undo the damage trump has done. there is nothing new that we're doing here other than restoring the affordable care act and restoring the medicaid to the way it was before trump became president. reporter: the president today, connell, also rescinded the mexico city policy as it is known. that policy restricted federal money going to non-governmental organizations that were involved with the abortion process. the president overturned that. this has gone all the way back to reagan, cornell, that republican presidents were in
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favor of this. then democratic presidents rescinded it. today we saw that from president biden. connell? connell: it has been some pace on these executive orders. before you go, blake, any update on the relief or stimulus talks? reporter: yeah, pretty big headline coming out of the white house, connell because in washington, d.c., there had been some chatter that maybe the $1.9 trillion package the president put forward would be broken down two essentially things democrats and republicans could be agree on and things they could not and democrat was take the second pile and push it through on their own right through the process known as budget reconciliation. however the white house today shot down that possibility. listen. >> i just want to take the opportunity to be crystal clear. we're not looking to split the package. that is not a proposal from the white house. i talked to the president about it this morning. that is not what our focus is or our intention is. reporter: focus, intentions, negotiate on the 1.9 trillion,
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connell, this is looking more and more every day like it is going down the path of democrats use the legislative reconciliation process. thus potentially get most or all of what they're looking for. connell? connell: sure seems that way. thank you, blake burman in washington. we've been talking about battles brewing all over the place this week but this particular one seems like it is building for about a decade or so in techland. facebook's mark zuckerberg is accusing apple of abusing its market power as it is now speeding up plans to help users stop apps from tracking people's data across the web. as carol and scott come back on this, carol, you first on this issue. apple will update their operating system. i guess the point of that is they're going to require you to opt in for this ad tracking as opposed to already be in and then have to opt out. mark zuckerberg is not happy. does he have a legit beef, do you think? >> first of all for full disclosure i own facebook stock but also very much on the side
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of privacy and i think we should have control over what we're opting into and what we're opting out of. we've been completely abused from a privacy standpoint. i think his bigger issue is that apple may not be doing the same things for their own, you know services and so they're saying it is not fair if you're not doing it with your stuff but with everybody else's. that is where you might get into the weeds. bring on this fight. i think a big fight over privacy ends up again with decentralized power. it ends up a win for the individual consumer and at end of the day that is what i care about the most. connell: right. zuckerberg thinks, scott, apple sus aing privacy to hide behind it in order to get a competitive advantage. what do you think? >> yeah, we own apple and facebook as well for our investors. zuckerberg defending privacy or standing up for privacy, that is pretty crazy to think about it. these apps and everything we get the stuff we're so addicted to
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is related to them taking some of our data. that is some of the stuff in a weird way does help us but that is how these things work. the fact any of this will change i think is a pretty big dream. the fact they could fight it it out would be distraction what they're using our data for their benefit and some degree for ours. connell: it can be at times. we have to wrap it, scott and carol. we have a "fox business alert" with "after the bell" earnings in. visa with its first quarter results. gerri willis following the numbers. what do we see? reporter: connell, that's right. it's a double beat on the top and bottom line for the electronics payment processor. coming bottom line $1.42 expectations at 1.2. revenue at 4.69 billion. 5.52 billion was the expectation. payment volumes in the water was up 5%. if you've been watching mastercard and amex both had positive quarters as well. not a surprise of visa, the
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largest u.s. card network would also fall in line here. it is notable though, shares up by the way after-hours here. they're initiating a 8 billion-dollar share repurchase program. investors would like that one. they are not giving a 2021 outlook, very interesting. these are first quarter numbers for the payment processor but they are not giving us an outlook. just to wrap up one more time here, a beat on the top and bottom line for the world's, u.s.'s largest card network. connell, back to you. connell: all right. stock up about 1%, gerri, thank you there on visa. as we continue here on a thursday afternoon here in new york governor andrew cuomo is under fire after a 10-month investigation into nursing homes and covid-19. bracing for a different kind of experience. how some companies are now capitalizing on a growing trend ahead of this year's super bowl. we'll tell you about that. and we have some automakers left
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in the lurch over playstation demand of all things. jeff flock, you have that story. reporter: inside a ford escape, full of semiconductor chips. there is a shortage. that means trouble for the auto industry and maybe for you. we'll tell you why when we come back. get a hobby. you should meditate. eat crunchy foods. go for a run. go for 10 runs! run a marathon. are you kidding me?! instead, start small. with nicorette. which can lead to something big. start stopping with nicorette research shows people remember commercials with nostalgia. so to help you remember that liberty mutual customizes your home insurance, here's one that'll really take you back. it's customized home insurance from liberty mutual!
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♪. connell: let's get to governor andrew cuomo who has come under fire for his handling of the coronavirus pandemic in nursing homes. in fact today the new york attorney general released a report that covid deaths in nursing homes may have been higher than reported, in fact a lot higher. let's get to fox's bryan llenas in brooklyn with details on that? reporter: connell, in fact much higher. as much as 50% higher, that according to a 76 page report released by new york attorney general letitia james, found the death toll inside of the state's nursing homes, assisted living facilities could be as much as 50% liar than higher than the 9,000. they had insufficient covid testing which led to increase of risk of death for our most
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vulnerable. as for under count of debts look at this example. new york has never included the number of nursing whom patients who died in hospitals its official count. in one example a nursing home reported 11 deaths when actuality they had 40 covid-19 deaths. the investigation acknowledged that new york's department of health guidance issued by governor cuomo's administration in march of 2020, requiring long-term care facilities to accept covid-19 accepted patients may have led to more deaths. quote, government guidance requiring admission of covid-19 patients into nursing homes may have put residents at increased harm in some facility and may have obscured the data available to assess that risk. fox news meteorologist, our colleague janice dean, who lost both her in-laws in a new york nursing home has been a voice for suffering families and she is demanding accountability. >> there has to be subpoenas. we have to get howard zucker on
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the stand to tell the truth and this might be the first step to that happening, harris. it's, i don't want to call it a win. i just want to call it maybe some justice. reporter: it has been a frustrating battle for these families who have just been completely upset by the lack of transparency and accountability. governor cuomo has blamed the long-term care facilities and federal post but haas not taken personal responsibility at large for the catastrophe in our nation's nursing homes. connell? connell: yeah. we're biased, bryan, janice dean has been quite the voice in this issue. bryan llenas out in brooklyn. take it to fox news contributor bill mcgurn, columnist for "the wall street journal." your reaction today to this new report? >> well it's not surprising. look we know governor cuomo allowed people to go into nursing homes that had covid.
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we know that people in nursing homes because they're older are more vulnerable and we know that this is just one instance where it is very hard to get accurate data because, there is not a uniform way in which we have counted covid deaths. now on the one hand i mean far be it from me to defend governor cuomo but it is a pandemic that hit us from nowhere and it is not surprising to me, people made mistakes didn't have the fullest information. the difference with governor cuomo he is just so arrogant and is not willing to make mistakes, far from it, he wrote a book extolling his own leadership there. he falsely blamed donald trump's cdc for these decisions and now, now he is reaping the whirlwind. some of his political enemies are now going after him the way he frequently goes after them. connell: you think cuomo will finally get some real widespread
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scrutiny as a result of this, of politically? i mean obviously president trump did. you know, understandably so on many issues the way the pandemic was handled. governor cuomo in new york, he never really did. that is why it was notable, bryan brought up janice dean. at some point it seemed like janice was one of the few speaking out about these issues and how they were handled? >> i think you make a great point, connell. my former newspaper, the "new york post" did try to hold him to account. he blamed them too. he blames anyone but himself. but the press corps was so overcome by the hatred of donald trump. so when president trump was given very combative press conferences he was compared unfavorably to andrew cuomo his press conferences would i say more measured but didn't feature any hostile questions that president trump got. so again i think this is just chickens coming home to roost.
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you know, in new york the dynamic is that the mayor of new york city and the governor don't like each other. and, it is kind of like the roadrunner and coyote, whenever the coyote can drop an anvil on the roadrunner's head, each of them do that. now they're all ganging up on gove governor cuomo. the sad thing we need to know what happened without necessarily pointing blame or accuse people, find out what happened, what we can do in the future to come up with more best practices. we're not going to get there this way with everyone pointing fingers, not accepting any responsibility. connell: i know there is no way to quantify it, sorry, bill to jump on it, that personal rivalry, they're both democrats, that personal rivalry between mayor de blasio and governor cuomo, that really cost us, didn't it? that really cost us in terms of how the response to this
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pandemic was handled here in new york? >> i agree. it is also makes it hard to figure out the truth. you know, just seems one takes the opposite side of the other. if the other takes a side, then you know, if the mayor takeses one position the governor will take another and vice versa. you had the mayor and governor clashing when the governor wanted new york city police to enforce his rule on home gatherings, during thanksgiving time i believe. so they just go at each other. that is not the way to get at the truth. i mean we need to get at the truth. again i don't blame people necessarily for making the best decisions they could on imperfect information at a time of crisis but let's admit that. let's try to get to the truth. instead, i mean the reason people have been so ferocious about the governor he has been so ferocious in denying any blame at all, and wants to be praised. he have has his brother on tv
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going after ron desantis. so i think you can make a good case, handles covid better with less impacts especially economic impact on the state and a state with a very elderly population. connell: bill, we'll stay on the story, especially after developments like we had today from the attorney general bill mcgurn, thank you. we have new headlines in on what was our top story today. all the chaos on wall street, the last few days, trading platform robinhood came out with, this is from reuters. it made a decision temporarily to limit the buying of certain securities. they will reverse some of that starting tomorrow. they will allow what they say are limited buys of the securities in question, gamestop and other stocks. the company says it will keep monitoring market conditions, looking to restore full trading in these securities but -- kristina talked about lawsuits being filed a backtrack from
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♪. connell: it has been a coal winter for the automaker. sales plummeting due to the pandemic. we have a new challenge they're facing a global shortage of chips. apparently this has a lot to do with surging demand coming in from videogamers. sounds kind of strange. we need jeff flock to explain it for us. he is live at ford dealership in illinois. jeff? reporter: pandemic induced run on playstation and xbox as well as regular old laptops soaked up all of the chips. consequently this is the ford escape here. the plant that makes this in louisville, kentucky, they had to shut it down for three weeks currently shut down because they don't have enough of these
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chips. that is the tip of the iceberg. it is not just ford. almost all the automakers. toyota has problems at the tundra plant in texas. vw has problem. honda has problem with the fit plants in ohio and japan. audi laid off 10,000 workers. john hennessey, you had problems with inventory already. you shut the escape plant down. now it is tough. >> i like to use the term we idle the plant for a little while. we get through the pandemic where we shut the down the plant to build cars we'll get through this too. this is little hiccup in the system. i think it will be back up and running there are brilliant people up at ford motor company. that is it what they do. they know how to move the things around, shell game. take chips from inventory we already have, put it in the f-series we have more of. reporter: big sellers and most important vehicles. that is what they're trying to do, connell.
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chips, big deal, u.s. was one time the big leader. look at chip stocks, american companies, some of them. that is a good thing but the demand as a result of the pandemic in the home video and all that sort of thing, has really taken a bite and they're still recovering from it. connell? connell: yeah. you wouldn't think of it. boy that is an interesting story. jeff, thank you. jeff flock for us today. we have pfizer revealing new data on its vaccine. we have officials in one state confirming the first known u.s. cases of the south african variant of covid. so we're going to get into all of this. a lot of new developments here. we'll tell you what we know so far as we continue through the hour. plus in a bid to boost sales, beer makers are trying out a new type of drink. there is recent data showing this might be working. we'll have that for you. the first full moon of the year, named the wolf moon. that will be lighting up the sky tonight and it will last through early saturday morning.
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it's either the assurance of a 165-point certification process. or it isn't. it's either testing an array of advanced safety systems. or it isn't. it's either the peace of mind of a standard unlimited mileage warranty. or it isn't. for those who never settle, it's either mercedes-benz certified pre-owned. or it isn't. the mercedes-benz certified pre-owned sales event. now through march 1st. shop online or drop by your local dealer today. connell: "after the bell" headlines for you today, the world health organization set to begin field work in wuhan in an effort to find the origins of the coronavirus. the team quarantined for 14 days and beginning their mission in china. officials are not sure how much the information the chinese will
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truly relay to the insurance efforts, as that country tries to avoid being blame for the outbreak. u.s. economy grew 3% in the final months of 2020, failing to regain gains lost from the coronavirus. this is the first contraction since the financial crisis of 2008 and the largest since world war ii. general motors will stop producing cars that run on gasoline or diesel fuel over the next 14 years. it will stern focus to all electric, cars, suv's and light instruction. gm's target is to have global targets and plants to be zero emission by 2040. fox news alert from maxine waters, congresswoman who is chair of the house financial services committee. she announced to reuters she will hold a hearing on gamestop and other stocks we've been covering. here is a quote from corning
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woman waters. we must deal with the hedge funds whose conduct led to the recent market volatility. we must look at the hedge funds an while manipulated to benefit themselves and partners while others pay the price. democratic congresswoman maxine waters, joining republican congressman french hill also of arkansas. congressman, good to have you own the show again. there is a lot you guys could focus on here, as we developed the last few days. where do you think the final focus of congressional hearings should be? >> thanks for having me. this is certainly reminiscent of what we saw in the dot-com boom. what we've seen in certain commodity spikeses like silver crisis of 1979. when you have a runup in a stock and unsophisticated players in it and sophisticated players. it reaches a critical moment that raised a lot of questions on capitol hill from both
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republicans and democrats. not only on the short selling part but also on the option trading in the stock by retail investors. their information, their qualifications, or those firms qualifying their investors and make sure they're eligible for option trading. i'm sure all of these will be questions that we'll look look at. connell: so when you look at it from retail investors point of view, politicians say we're trying to protect the little guy, retail investors, how do you do that? some say you have to protect them from themselves with more regulation in the industry. others say you have more freedom, for example, robinhood a retail platform which many investors use, today it stopped people from buying gamestop and other stocks. it will allow limited buying of the stocks tomorrow. is that backtracking?
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if so, what is your view on that? >> i think there are a lot of rules finra has overseeing broker dealers like robinhood. robinhood is a broker-dealer. they have the obligation to make sure their investors have information they need on their platform. particularly doing options trading, particularly a very sophisticated strategy. it is good robinhood opened up democratized investing for retail investors. they have to understand what they're getting into. our laws are written to be buyer beware. you need to understand what you're doing making short and long-term investment decisions. that is on the individual. i happen to think finra's rules on options trading, disclosure, that kind of thing for investors are sufficient. in my view i don't think you should stop investing though. i think that something we'll look into when we have the hearing. connell: okay. so the rules are sufficient, but that last part, so you will look
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into what specifically would you like to tackle, if the rules were -- >> well, where they have, the broker-dealer has said you can't buy or sell a stock to an individual investor. that is something that merits explanation when we have the hearing. connell: okay. sounds like robinhood is aware of that maybe. they pulled back. they were facing a number before class action lawsuits as well. it was remarkable today politically to see the likes of aoc, congresswoman of new york, alexandria ocasio-cortez, actually in agreement with ted cruz at one moment. do you think there is bipartisan consensus to do something here? if so, is it on the side of the retail investors on the side of the hedge funds and big wall street investors? >> i don't think we have dogs dating cats here yet. but i think both sides want to ask their questions and get answers about what happened here. part of this is we have new platforms. we have reddit's role in this that is much more significant
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and much bigger than it was back in the dot-com boom where you just had bulletin boards. fractionalization of smaller dollars by retail investors. all that is working in conjunction with the securities laws. as i said looking at short selling in the stock to begin with. all of this will make for a robust hearing when we have one at the house financial services committee. connell: a lot of people would argue you know, short selling still has a role in a market, do you agree with that? are you talking about, putting some restrictions on short selling itself? >> no, i think short selling plays an important role in the market. it is a important part of price discovery. just like i think retail investors having ability to invest small amounts of money and investing in the market, don't have to have a round lot, that is good equity investing.
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all these things can be taken to extreme. i am interested to learn the facts what happened in gamestop stock as well as amc, some of these others. connell: maybe there is something we're missing here. as we watch it play out in real time. we'll watch with the hearings. congressman french hill from arkansas. we have a push for passenger confidence, oakland, oakland international airport first-in-the-nation to sell covid tests from a vending machine. the customers have to take it on their own with saliva test. you turn it through fedex. the prices range from 130 to $150. more to come. we'll be right back.
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this is the vaccination site, they turned into a vaccination site. it was a 5000 seat event center sitting idle because of coronavirus. they offered to up to the county health department. the gm here says, it is a no-brainer. >> this is all about the residents. we want to become part of the solution. we've been on defense with covid-19 pandemic quite some time. we feel it is good to be proactive to help our residents. >> you're seeing video of miss mary getting her vaccination, 92 years young. they can do 100 people an hour for vaccinations at this space. they needed the space for social distancing and to be able to watch people for possible reactions. so far none of the sites in anna anna -- anne arundle county have
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had ad reactions. we just need more vaccine. >> we started on the 19th here, in less than two weeks we vaccinated almost 3,000 people. reporter: right now 47 million doses have been sent out to different sites across the nation. 25 million doses of about, have been put into arms of americans. the vast majority of the doses gone out have gone to hospitals. the anne arundel health department would like more vaccinations. they get 3,000 to 5,000 per week and they use all of them by the end of the week. back to you. connell: every little bit helps. edward lawrence in the state of maryland. a company based in that state out "after the bell" with headlines on its own vaccine candidate. we bring in a doctor who is emergency room physician and member at global outreach doctors. we are talking about novavax we herd about awe fines ago, its
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own vaccine9% efficacy phase three clinical trial conducted in the uk. we have more vaccines coming on. we're getting there, right? what is the state of things as we try to roll this out? i know there have been some speed bumps. >> definitely speed bumps. you're right. we're getting there. we'll still trying to build a plane while flying it but we're getting there. these big vaccination centers is critical. orange county did it with disneyland and now to see this happening in maryland with casinos is amazing. live nation came together and wrote open letter to joe biden saying we have venues that are not being used and we have a lot of people willing to help. i think that is important, exactly what america needs right now. i live in austin, texas, we're the live music capital of the
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world. things have been silent and muted since the pandemic. these venues have space, they have capacity. they can reach people across political lines and really help with the vaccine process. now that we have novavax added to the mix with really great data coming out, 88 to 89% efficacy is phenomenal. we're getting there. it is hopeful. we have a long road to go. we need to get our vaccine rate higher? >> a lot of attention in recent days to recent variants of the virus. novavax demonstrated what it described clinical efficacy against covid-19 both in the uk variant and the south african variant in addition to the original variant i suppose. as we go through this what do you make of what we're discovering? there is still data we need. some people are worried you won't get as much immunity on certain variants with the vaccines. my take on it from what i can read and talk to experts about
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it, as long as you get vaccinated you were better off than you were before. we'll get some immunity the way vaccines work. can you explain how they work with different variants? >> exactly as you said. as long as you get vaccinated you're significantly better than if you're not vaccinated. we're talking 94 to 95% efficacy with moderna and pfizer vaccines. that is that nominal. that is far better recovering from covid having antibodies. this vaccine is giving a very significant level of protection. there was some concern. we've got these variants. there are thousands of variants circulating around the globe right now. we're focusing on just a few, that we are concerned about. maybe decreased efficacy of the vaccine. pfizer just announced, we did a study at the university of texas medical branch that there really wasn't that much of a change in efficacy. that is really phenomenal. that is great news. connell: sounds like a silly
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way, i want to be clear on this last point, say efficacy, people throw the word around, don't understand, haven't been you there the trials. it is not quite as effective in an individual person. some people don't have 100% immunity and some have zero. in other words if you get variants, you get the shot you might build up some immunity but not quite as much. is that -- one more explanation and we'll let you go, just so we're clear. >> sure, absolutely. pretty much what it means if you're exposed to the south africa variant versus the variant we've had since the beginning in america, you know, there may be a slight increased chance of you getting, of you contracting the virus, developing symptoms from the virus. there is very slight increase of chance of that we are concerned these variants are happening. we need to race to get people vaccinated before mutations come far and we need a booster, we need to start over from square
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one, which we're not at yet. that is red flag we're worried about. connell: right. >> exactly. you're still protected very strongly but there is a light decrease in protection against certain variants than with we've been dealing with, not enough to say that the vaccine is not working because it's working. connell: okay. thank you. i understand it better. hopefully everybody else does as well. it makes that point. we have to get going on the vaccinations. doctor, thank you, always good to talk to you. we'll have you back, dr. can their i can't from texas. beer makers are trying something different. we'll have that story. grady trimble, drinking on the job again. reporter: connell, we're drinking on the job, but what is not in these brews causing sales to skyrocket. that is what we have on tap next all in one place.
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capitalizing on a growing trend. beer makers nationwide turning to non-alcoholic brews in order to boost their sales, and grady trimble is at the great central brewing company out in chicago today. grady. >> reporter: hey, connell. they just finished canning here today, and we have seen sales of non-alcoholic beer surprisingly explode in the last several years. look at the sales for 2020, $188 million, that's up about 38% year-over-year. david the ceo here at great central. so what is behind this? a because i would have thought, you know, if you want a non-alcoholic beverage, there are lots of other options, but people are turning to non-alcoholic beer. >> that's right. here at great central we're working with big draft out of the u.k. producing their products, and i think there's a big movement within the craft beverage scene that's really coming to life in the u.s. and non-alcoholic beverages,
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whether it's beer or drinks, are a huge part of that. >> reporter: is this, pardon the pun, a drop in the bucket, or is this something we're going to see growing in years to come? >> i think it's here to stay. much like the seltzer, i think there's a conscious decision by consumers to understand the ingredients and make sure what they're putting in their bodies is good for them long term, and i think the non-alcoholic beer allows them to find that perfect blend between the social settings that they a crave and introducing a bear that long -- beverage that's healthy and tasty at the same time. >> reporter: and i have to say, connell, they have this and a porter, i believe, or a stout in. >> we have this in a stout. >> reporter: they're both delicious, surprisingly, for me. they are really good. connell: you sound drunk, but that would have defeated the purpose of the story.
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[laughter] you sound great, grady. there's demand, they will make it like any other product. grady trimble out of chicago. a busy hour for us here. thanks for watching us today and every day "after after the bell." i'm connell mcshane in new york, see you back here at the same time tomorrow. ♪ ♪ lou: good evening, everybody. the republican party is not only battling the radical dems and the global elite orthodoxies of wall street and corporate america, but also caught in a frustrating dilemma of its own making. the gop lost in 2020 because it refused to acknowledge and to support donald trump as the leader of the party and president of the united, united, the most successful one-term president in history. the republican party's congressional leaders, mitch mcconnell and kevin
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