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tv   The Claman Countdown  FOX Business  May 18, 2021 3:00pm-4:00pm EDT

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number in cpi, very soft number in retail keeps tapering away. charles: all right ken, courtney , we covered a lot of ground always appreciate it. we're going to watch that tesla, that is something really really exciting, that's a big bet against a big guy. we'll see what happens in the meantime, hand it over to liz claman. liz, you know, we lost some altitude i'm not sure, a lot of anxiety out there. liz: yeah, i know. we're all in the red at the moment but yeah, we'll watch that tesla story for all of your viewers who are going to stay with us, thanks, charles. the ford electric vehicle center in dearborn, michigan getting a jolt of presidential pop in just the last hour, as the commander-in-chief tours the plant to promote his american jobs plan, and its $176 billion investment in electric vehicles. that's got the entire ev sector powering higher but the back drop of a mixed picture which is now all lower on wall street for the broader market is kind of dimming, some of that move.
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a trio of market titans showing their cars as you just heard charles mention, michael burry saying warren buffett and cathie wood lay down their winners and fold their losing hands our floor show traders are about to pinpoint who made the pest trades. and the great outdoors mean big profits as lockdown weary americans head for the hiking and biking trails, shooting ranges as well. the vista outdoor ceo is here, as his company clocks a record run. it's a fox business exclusive. plus, food prices have you guys seen, flying higher as inflation takes its toll, as grocery chains scramble to stay ahead of pricing, ahead of rising prices, rather, and this is that health food giant behind garden of eden , baby food, they're working on the inflation recipe we'll have how close the ceo is on raising prices to keep up in this roaring post pandemic economy, okay check the dow down
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118 at the moment breaking news president joe biden just putting the world on notice saying america is back in the ev race. the president speaking at a ford plant in dearborn, michigan as he looks to put a charge into auto workers around the country. all right we're looking at the timing that is very interesting. it comes after this morning's lamb border patrol guinea volkswagen announced the luxury auto line, will be fully electric, not just one or two models, but fully electric by 2024. to the white house and blake burman, blake, you know, let's get to president biden and the plan to win the global ev race because you see everybody in it now. >> i'd like to see you in one of those fully electric lamborgh ini, that be pretty cool. liz: i've got to stick with the tesla at the moment. reporter: there you go, i hear you so we did see right president biden in michigan today, he was at a ford plant in dearborn, michigan the ford f-
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series the most-sold vehicle in the u.s. annually and tomorrow, ford is going to be unveiling the new lightning, the electric vehicle for the ford f-150 so that's part of why president biden was there today he said he wanted to drop by and say thanks to ford for heading in that direction but also, liz there's clearly a political angle to this as well as you know the president has been pushing his american jobs plan which has a big push towards trying to build-out electric vehicles, and charging stations all across this country. for example, the plan calls for 174 approximately dollars to incentivize and build-out ev, $100 billion in rebate for ev purchases, 15 billion to build-out 500,000 charging stations nationwide, $20 billion for electric school buses, the president making it clear today that he views the battle over electric vehicles as a race between the u.s. and china. watch. >> but today, china has a bigger manufacturing scale than all other countries, and using
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that scale to make these batteries not just in china but they are making them in germany and in mexico, and now exporting those electric vehicles around the world with sights on the american market, and they think they are going to win, but i've got news for them. they will not win this race. we can't let them. >> [applause] reporter: liz, there was an interesting question aboard air force one put to the press secretary jen psaki as you know the president of the united states travels in a well-armored well-equipped vehicle known as " the beast" and the press secretary was asked whether or not the president, the white house have intentions of making the beast electric. and they said at this point, that is an objective of there's. liz? liz: the beast, okay, the ev beast. these names, look, lee, neo, the chinese names are jumping but lordstown is having a huge day, blake.
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you can't see it but it's up 19% we have workhorse better by 8%, and you know what? president can thank elon musk for making sure that we were always in the lead with tesla because that was a big first one that was manufacturing there. blake good to see you thank you very much and by the way we're going to check on the republican side of the infrastructure plan in just a few minutes. in the meantime one of the most famous short sellers in the world has taken aim squarely at the most famous ev company. michael burry, the star investor portrayed in that movie "the big short" has made a very big move against tesla, but he isn't the only one who just coughed up his secret first quarter trades. billionaire warren buffett and cathie wood the hot hand revealing a flurry of news- making trades but first let's get to burry's more than $530 million bet against tesla, his 13th filing with the sec shows long puts against more than 800,000 shares of the ev giant. tesla shares, bucking the bear ish bet at the moment
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moving higher by three-quarters of a percent but let's flip it over to the oracle of omaha whose berkshire hathaway reveals a brand new stake, a $943 million stake in insurance broker aon, at the same time, berkshire dumped its stake in chevron by 51% exited nearly all of his shares in wells fargo, which by the way, he started adding to in 1989 so that's a big deal. team buffet also sliced holdings in u.s. bancorp, merck, bristol myers, stone co, and liberty global. company exited its stakes in synchrony financial and sun core energy entirely but beyond aon buffet added to his positions in verizon, restoration hardware, and kroger finally, cathie wood shed nearly all of its $23 billion stake in apple, figuring do you know what maybe money could be put to better use there, so where? she added to her twitter, draft
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ings and coinbase holdings. are these right moves? what do you think? to our floor show trader scott b auer and tom heys, guys what i'm calling second guessing tuesday. scott, who made the best trades during the first quarter and why , what do you think? >> yeah, this is the ultimate monday morning quarter here. you know, a couple things, i think with buffett's they are getting so merky now because things are happening so quickly and he's not keeping on to his holdings as quickly. i do really like what he did though. he took some massive profits off the table in the energy name, some of the drugmakers and especially the financials. i really like what he did there. in terms of cathie wood, to me, it's actually, i don't want to say disappointing, liz but it looks to me like she's almost just trying to double up and maybe average into some of these long positions that she's taking a beating on over the last quarter or so, or over the last six months. the one i really do like that she did go into though is
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twitter, and then, finally, going to the michael burry, people need to understand that he didn't just short the stock, which he did actually in december come out and put a sell rating on there but he didn't just short the stock he bought put options, 8,000 put options which if they all went to zero, stock went to zero that's the $530 million that we're talking about. the thing we don't know, we don't know the expiration or the strikes that he actually bought. those were not released, at least that i saw yet, so we don't really know the true value of what he put up there. that being said, he's absolutely sure but in sum, i'd like cathie wood's twitter purchase and i think what buffett is doing right now especially since he bought back what $27 billion worth of berkshire hathaway, you know at the end of last year, i think he's doing a phenomenonal job. liz: well yeah, and we keep saying he, don't forget todd and the two guys he put in charge of
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the stock portfolio. folks that's why buffett used to say i buy a stock and i never sell it. well guess what he has started to sell and i would bring up general motors. he upped his stake in the third quarter of 2020 and since then its been he, they. its choked about 150% year-over-year. he trimmed some of that, so tom hayes, you know, he is through todd and ted, starting to act like a more basic investor who takes profits nothing wrong with that but tell me who you think made the best trade or trades here of these three. >> yeah, well, i think to your point, certainly better commentary on todd and ted than it is on warren because you remember from the annual meeting he said he'd have no problem owning the entire company of chevron as we're going to need a lot more fossil fuel to get us through the renewable transition , so this was a shock er and certainly a todd and ted decision. i think the best trade ofq 1 is actually someone else that we all know, george sorros.
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the loss was family's gain they bought all the chinese stock that bill wang had to liquidate the forced liquidation and the prime brokers had to sell. he went in and these stocks were cut in half due to forced liquidation and he bought baidu, he bought vip shops and tencent music along with discovery by the way which had the merger yesterday, and i think that's going to prove to be the trade of the year. you're seeing even today, in a weak take, the chinese stocks are up and i like that trade quite a bit, so i don't think the buffett 13-f tells us a lot about what wavelength en is thinking i think it tells us about todd and ted and as far as michael burry to scott's point the notional value is 500 million, but what he has at risk maybe a few million, maybe a few tens of millions but i wouldn't bet against elon musk long term, the thomas edison of our day. short-term the trade works, we'll find out if he took profits or not.
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liz: fascinating stuff and yes, it is a good point and i like the outlier with george sorros and that investment because he's now acting like buffett, who says you want to rush in when everybody is selling and panicked and you want to leave when everybody is excited, so scott, tom, good stuff, thank you very much. >> thanks, liz. liz: good to see you guys. all right, is housing a market where we've been talking about why the huge miss for april housing starts pulling down lena r, the 9.5% drop rattl ing home builder stocks as surging lumber prices and supply shortages take the blame. well as these guys split though on the headline numbers, dig just a bit deeper and you'll find permits to break ground on new houses actually beat expectations so watch out for the current quarter. the burning question now is whose next with high prices? could the prices on your favorite snack foods soon be going the way of wood?
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skyrocketing commodities prices and why, just as plant-based milk is enjoying huge demand, why he's ducking out of the fight, with the closing bell ringing in 49 minutes, and the dow down 107, look at crude oil that has touched $67 a barrel it's now at $65.53 and the "claman countdown" comes right back with the haynes celeste celestial ceo right after the break. ♪ ♪ (upbeat music) ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪
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liz: nice move in this final hour of trade for walmart. walmart raising its full year earnings forecast, this is the world's biggest retailer saying that americans, with their pockets stuffed with stimulus check money, went on a spending spree. walmart's become more popular than ever with the health-minded crowd believe it or not, after clearing shelf space for things like carrot chips, garden of eden, celestial seasonings and many other names owned by the multi-national organic food conglomerate hain celestial whose stock is up 40% over the past year. let's bring in hain celestial ceo mark shiller. welcome to the show, you know, warning sirens are going off for food producers, everybody really, wheat, corn, soy prices
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hit eight-year highs. the feds telling everybody to relax that'll soon work through the system but tell me where you're seeing most dramatic cost increases and how you're dealing with them. >> sure, well thanks for having me on. we are definitely seeing inflation, really across many aspects of our business. freight costs are up considerably, we're seeing packaging costs that have been going up-tick harry reedily when the snowstorms hit in the south, that suspended production and increased cost. labor costs are going up, commodities costs are going up so it's a very high inflationary environment. the good news is we will be able to pass some of that on to the consumer, and we've got plenty of productivity in the pipeline that we've been working on for years that will more than offset it so we still feel good about our ability to expand margin. liz: so you said that the good news is you can pass that on to the consumer. the consumer, who no, might pushback a little bit. are you concerned about that and what does that mean for what you expect to be a bottom line for
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this current quarter. >> yeah, so look. we're always very thoughtful and conscience of how much we're charging the consumer relative to the value perception of the brand, so we don't make these decisions lightly, but you know, when there's universal across-the-board inflation, you see it in everything from airline tickets to package goods food so i think there's an expectation that it's somewhat inevitable. that said healthy food tends to appeal to a higher more affluent consumer whose less price- sensitive. if you go back to previous recessions, healthy food has outperformed the market during the recession of 2007. health food grew 8%, so the people that tend to buy products like ours that are willing to pay the premium for organic they are less price sensitive and when you're selling things like a jar of almond butter for $14 a jar, consumers are not going to be that sensitive if you take a $ 0.20 price increase so we're thoughtful, choiceful,
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disciplined but we have enough productivity and pricing power to cover the cost. liz: a year ago, the pandemic was fueling, you know, quite frankly demand for anything that shoppers could get their hands-on. i mean, i can't find pasta, let me buy, you know, soy pasta or who knows what. they were just trying to get anything. what are you seeing as we emerge from the pandemic right now, as far as demand is concerned? >> so the good news for us is we're right in the sweet spot of where the consumer is going. first, and foremost, people are eating healthier. they are worried about getting sick, they are stressed, they are worried about their immunity system and we've got products for all of those kinds of conditions and so we've got products that'll help you sleep like sleepytime tea, products that are good for your immunity system, so, healthy eating is here to stay. you see it not only in food but you see people gravitating toward health in a lot of industries so that's one piece
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of good news. the second is during the pandemic, consumers discovered buying food online for the first time, and if people who bought food during the pandemic for the first time, they're now buying more than 50% of their groceries online because they are realizing there's broader selection, it's more convenient, you can sit while working at home and have it delivered to your door, or you can click and collect so you don't have to sit in a crowded grocery store or have your young child kind of, you know, nagging at you while shopping so it's just a more convenient experience so those two trends are huge. we are very over-developed in e-commerce. ten years ago if you wanted to buy healthy food you could only get it online or in the natural channel and so our business skew s much more heavily toward e-commerce than most of the rest of the industry. liz: you know, you talked about the consumer gravitating toward healthier foods well they're gravitating toward non-dairy drinks, you know, don't call it milk almond milk and soy milk. this is interesting timing for you though, that's exactly what you're going away from at
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least here in north america, divesting of dream, which of course has soy milk and some of the other non-dairy milk. why, what is the thinking behind that just as oatley become super hot. >> yeah, so outside of the u.s. , i would point out that one of our largest business is non-dairy beverages. we're a leader, we've been growing double-digit, we're very well positioned in the market as an innovator but here we were in the shelf stable part of the market, the growth is in the refrigerated case, we were in soy, the growth is in oat so it was a relatively small business for us that wasn't generating significant profitability and we would have to do a complete re-launch to get into the end of the market that was growing and quite frankly, we have so many brands that have growth potential it's about being choiceful in terms of where you was in to place your bets and where you have the most upside. liz: well you guys are watching the trends mark great to see you please come back. the fed says that these prices
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are transitory i don't know, we'll see. we'll see thank you very much. >> thanks for having me. liz: will we or won't we see president biden compromise with republicans to get started on rebuilding the nation's infrastructure? well, that actually depends on the gop, which is getting close to firing back with a lienor, cheaper and tax hike-free plan. a live report on what it could look like, next. and have you guys seen gold lately, we want to show that to you up about 11.5% since its 2021 low hit back on march 8. the precious metal retaking its alternative investment crown. the theory behind the move, well , as cryptos endure and elon musk fuels rollercoaster ride, investors who sell bitcoin which is down again today by about 2.6 % are parking the money that they get , maybe in some cases back into the metal. litecoin are on the rebound at the moment closing bell we're 38 minutes away but coming right
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liz: fox business alert, airport spa turned covid testing site express spa taking flight into the pop stock take a look at the travel and wellness firm jumping about 7% right now after predicting a strong recovery, oh , whoa 9.5% sorry i literally just looked at it on the commercial break, so its jumped another 2% here, predicting recovering the second half of the year and an increase in demand for the company's covid express check sites, as travelers do continue to heed required safety regulations. express spa reported $8.2 million in revenue from its current 13 locations, now operating at 11 airports across the u.s.. up 13% at session highs, express spa is still holding on to much of that as you can see it's still $1.33 stock in the meantime let's flip it over
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to the airlines because they are basking in the glow of positive reopening forecasts as well, american airlines, delta, jet blue, are all moving higher, in fact the whole space is in the green. i just checked, everybody, jpmorgan is also feeling the travel bug, the big bank upgrading shares of mgm resorting betting on increasing action at u.s. casino s particularly in las vegas, we have mgm moving higher by about t .6% and jpmorgan also giving a shout out to mgm sports wagering and i-gaming business, but boy i'll tell you something they are selling out on the weekends that's the big report there. speaking of gambling, johnson & johnson under pressure, but not striking out completely with investors in spite of this growing controversy surrounding the new york yankees now, a ninth member of the bronx bombers team and staff have tested positive for covid-19, despite receiving the j & j single dose vaccine. so far, no one actually has show ed any symptoms, okay so they test positive, but they
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aren't sick, which could explain why j & j is still in the game and in the green up 1/3 of a percent right now to $171 even and you could call it a barrons bounce, the mean stock trade just won't die and it looks like he is right. amc about to extend its longest winning streak in two years. going now for an eighth straight gain, we have amc up about a percent right now, express another famous one, up 4.3% for the reddit crowd and retail sector and wall street bets original cause celeb game stop was down earlier but it has dug itself out of the hole, out of the red this afternoon and is now up by 2.5%. check the clock, in about an hour from now, president biden and his administration officials are headed to capitol hill to meet with senate republicans to discuss infrastructure.
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gop leaders plan to nail down their counter-offer to biden's sweeping $4 trillion tax and spending proposal. let's get to hillary vaughn whose been walking the corridors of capitol hill. hillary give us the insight. do we know what the gop's plan is going to look like at least in some way, shape or form. reporter: we do have an idea because they say they aren't planning on making any substantial changes to what they put on the table in april and republicans walking into this meeting about an hour from now say they hope to walk out of it on the same page with the biden administration over what is infrastructure, and what is not. senator shelley moore is negotiating the deal with the white house along with a few of her senate colleagues and she says they aren't making any major changes to what they put on the table, but they are still drawing the line at tax hikes and human infrastructure like child care. the gop plan is the largest infrastructure package, republicans have backed in the past, and its size is even making some of their gop colleagues in the house a little skiddish.
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>> we should not be negotiating with them. that's number one but number two if you're going to do infrastructure, we could do it for about $400 billion. that's roads, bridges, waterways and broadband and we could fully pay for it by pulling back some of the money this congress has already spent. reporter: the gop plan though definitely does not do enough or spend enough for some democrats progressives in the house asking for $7 trillion, writing in a letter to speaker pelosi yesterday, "the pursuit of republican votes cannot come at the expense of limiting the scope of popular investments , human infrastructure cannot be secondary to the physical infrastructure, needs, under republican obstructionism but other senate democrats say both sides just need to focus on ways to pay for hard infrastructure, not the other stuff, senator crist coons tells me today, that is the way to get a deal. >> there's a broad menu of ways we can pay for hard infrastructure that i think can garner bipartisan support, we should do as much work in that direction as we possibly can, if
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we can get a bill, great. if we can't, then we'll move to what it's going to take to get 50 democrats. reporter: and liz, senator says that they are going to get into the nitty gritty details today with the biden administration officials that they are meeting with of how to pay for all of this , but the price tag also is still up in the air at this point. liz? liz: price tag, the tax plan, paying for it, oh, my. we'll be watching all of it. hillary thank you very much and again, as soon as we get any news on what the gop's plan looks like into the real weeds and the details we will let everybody know. taking aim at spring fever. it's sending one sports retailer sales into overdrive, wait until you hear what vista outdoors ultimate secret weapon is that may surprise you. here in a fox business exclusive next, vista outdoors ceo is coming up. closing bell we're 28 minutes away don't go away we have the nasdac now in the green.
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liz: can we take a live picture, okay, i stretch it when i say this is a picture of central park. you can see it through the buildings here, but it is pretty picture-perfect in central park today because we've got the sunshine, we've got good weather to pair with it new yorkers rushing to enjoy some fresh air after working at home for the past year, and as people across the country start running , hiking, and biking, with better weather, vista outdoor is cashing in. the company behind bell, camel back, remington, and more, outdoor brands, of course cannot stop growing. the stock up more than 385% from just one year ago today, as the green grass of strawberry fields, yes that's part of central park, it's not the only green, they are seeing. here on a fox business exclusive we thought let's bring in vista outdoor ceo to get the scoop here. i mean, a year ago your stock was trading at $7.77 we know
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what it's at today. its been a great year. tell me what this journey has been like, considering people immediately started to try and figure out ways to get their exercise as gyms shutdown and how you really capitalized on that. >> well, liz, it's good to be back on your show again, and i'm excited to talk about the momentum we have and it really started three and a half year ago when i walked in the door. we spent a lot of time transforming the company building our product pipeline, building our marketing machine, and so we were kind of hitting our stride when covid hit, and then when covid hit, and people were getting cabin fever, shelter in place they want to get out and we have, gosh over a dozen number one number two share brands in the marketplace and we capitalized on the momentum and we're able to outgrow a lot of our competitors because we're ready. liz: well, you're ready with bike helmets, you are ready with obviously, the camelback, which allows people to stay hydrated
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and all that, bell, i'm looking at all of these brands and i really want to know, because i'm sure you're seeing growth in all of them, where are you seeing hottest fastest growth? >> liz, good question, and what's most exciting about it is it's across-the-board, every one of our brands is growing over 20 -25%. we've got some brands like bushn ell golf with a gps-enabled laser, and we've got a camp chef with our wi-fi pellet grill, both of those have led to some months where we're growing triple digits and we just can't produce enough product. really innovative product and marketing is what's driving these two and our other brands as well. liz: you make ammunition, you don't make guns but gun sales have done incredibly well, and when you buy a gun, you need amm o. people are going out to the shooting range. tell me what you're seeing in that particular space. >> well, liz what's really exciting about this , to your point, when you buy a rifle or
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a handgun, you needham you mission, and what's really neat about it is and we haven't seen these trends before is more millennials, more younger generation people, more people of color, more women are embracing hunting, you know, field-to-table movements and filling their freezer with fresh meat, embracing safety and self- reliance, so we welcome in, gosh, over 8 million new users into this sport that we call shooting sports, and hunting, and so it's really created kind of a structural shift in whose entering in the market and how they are using the product which is really exciting for us. liz: well, you know, one thing for sure though. i guess if you really looked at all of the trends that you've seen over over the past 52 weeks it was stuck at home, work at home, play at home, workout at home. that has been just amazing for you guys. let's flip i guess you could call it the lens and say look
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forward. what will be that next catalyst for you, chris? >> well what's interesting, liz , is we think the structural shifts lead to what i would call kind of after market consumable- type of purchases which a lot of our products really are. we don't necessarily sell the bike but we sell the accessories. we don't sell the firearm but we sell the ammunition and so on and so forth but we just closed on two acquisitions which should add well north of $200 million of revenue incrementally to the organization this year, and we've got that new product pipeline that is really really starting to burst now, and really, that structural shift, which has created a whole new user for us that we can extend our brand reach into is super exciting and although we grew almost 30% last year, our online sales grew over 60%, and we're under penetrated today so we think we can take our online growth and grow that dramatically over the next few
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years. liz: i like that, the unicorn and the mohawk helmets for the kid for the bikes that's amazing. it's great to see you, christopher metz, of vista outdoor, good stock story, great business story we'll see you next time. >> thank you, liz. liz: super agent james bond may soon have a new home as amazon targets a prime deal. details ahead in the streaming giant plans to team up possibly with 007 and yes, elle woods, uh-huh, in a silver screen tie- up that could only be made in hollywood, and another story you have to hear to believe, michael curvin. whose that oh, he's a vitococo founder, ceo and president and he dropped out of this college with this nutty idea of packaging and selling coconut water and 16 years later , it's a top brand across all u.s. grocery stores and globally, it's everywhere but his journey was filled with bumps and bruises you've got to
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hear how mike went from selling out of the back of a rental van to managing a global business, on my everyone talks to liz podcast available on spotify, apple, google anywhere you get your podcast. closing bell 18 minutes away, s&p down 11 points the transport s down 100. we're coming right back. they said it couldn't be done but you managed to pack a record 1.1 trillion transistors into this chip whoo! yeah! oh, hi i invested in invesco qqq a fund that invests in the innovators of the nasdaq 100 like you you don't have to be circuit design engineer to help push progress forward can i hold the chip? become an agent of innovation with invesco qqq that building you're trying to buy, can i hold the chip? - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange.
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how our switch squad makes it easy to switch and save hundreds. wanna help kids get their homework done? well, an internet connection's a good start. but kids also need computers. and sometimes the hardest thing about homework is finding a place to do it. so why not hook community centers up with wifi? for kids like us, and all the amazing things we're gonna learn. over the next 10 years, comcast is committing $1 billion to reach 50 million low-income americans with the tools and resources they need to be ready for anything. i hope you're ready. 'cause we are. liz: discovery and at&t not the only media titans looking to shake up the streaming world. the information it's reporting that prime video owner amazon is in talks to buy mgm studios. this is the content library home to james bond, the voice, hand mades tale for upwards of
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$9 billion at least that's what mgm wants. the wall street journal first reported mgm was ready to put itself up for sale last december but didn't get the bids the hoped for back in 2,018 apple also held talks to buy the studio for $6 billion, so kind of could drive a truck through that difference there, but the negotiations at the time were unsanctioned by mgm's board and let to the ousting of then- ceo james barber who was a great leader at that company, very smart guy who built it up. now no word on any terms or whether a deal will definitely happen with amazon, which is currently trading down three- quarters of a percent apple pulling back by two-thirds of a percent but amazon and mgm may not be the only media companies looking for new partners after yesterday's massive $43 billion deal between at&t and discovery. there's probably a scramble behind the boardroom doors everywhere. more media consolidation among content providers as they race
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for scale, to charlie gasparino whose been talking to very high- up sources on all angles here. charlie: liz i want to turn back to the discovery at&t deal and just give you a little historical snapshot of what went down based on my sources who were essentially working on the deal. i spoke with them today, people on wall street that had been working on the deal and know directly of at&t's intentions. at&t had been weighing the sale of its media assets from what i understand at least since last fall, and it was looking at it in three possible scenarios from what i've been told. first, selling cnn and the turn er assets, you know the turner programming in one batch, possibly selling hbo and the studios in another batch, and then possibly selling the whole thing depending on what type of deal it could work out. as you know, liz, we were first to report that cnn had the potential to be spun out of the whole thing, and caused a
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lot of shockwaves and the people at cnn were clearly interested because i got a million calls. the rumor at the time was jeff bezos personally, not through amazon, his people called me and said they were not interested but bankers were clearly shopping this thing. one of the things i understood, i heard from my sources and they determined at some point that cnn could not be dislodged individually. it's very hard to sell that without the turner assets or the whole thing so that's when they went back to the other plans which is the three scenarios i laid out. now, what comes next, i could tell you now that david zaslov & company are really excited about this deal from what i understand there's lots of talk, again, about spinning cnn out. i hear not in the cards. liz: no way, right? charlie: his friend works there, it's a good chance now jeff zucker will stay with the combined company, jeff zucker the head of cnn was
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looking for another job, and as his contract was coming up i think it was ending in the next several months, so, you know, it's likely that he will stay and what i understand is that what they are relating to wall street particularly analysts is they want to keep everything. obviously that's what they are saying who knows about the future but right now they want to build this huge juggernaught that could be streaming and also offered over cable with multitudes of content. again, this could be, there could be other deals working, liz, you know a lot of people talking about at&t, comcast, or excuse me, comcast getting all these names mixed up, comcast buying the cbs viacom that's a little difficult for just comcast to do it because remember they have distribution, the anti-trust regulators not like that lately. maybe they do a spin-off deal like this. liz: they can't have nbc and cbs charlie: well you never know. i'm just saying they could spin
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it off as long as they don't have the distribution part. that's some of the stuff being spoken about. again this is all rumor. you get one deal, you get many others and this was obviously a huge deal and again when we first reported about cnn, our bunny had a good nose on this , liz. they were definitely doing stuff they were doing something, obviously bigger. one other thing i want to point out, liz last week we reported you and i reported that robin hood's ipo could be coming unthe next couple months. right now we should point out that the bloomberg is reporting that there's an unofficial date set for late june, so that's right within our timeframe so we broke it first. company is not denying that by the way so i think that late june is probably a good date. back to you. liz: i've got a quick question for you, charlie. our parent company, fox media, you know, anybody talking about that, and i bring that up only because we're looking at the stock, it's up about 2% right now. charlie: you know, i hate reporting about my own company,
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which i do once in a while, but in all honesty, i have not heard our name, and that doesn't mean it's not happening but i have not heard our name bounced about , you know what i'm saying? a lot of these companies that are, that need to be sold and combined have balance sheet issues. one of the problems that at&t had was massive amounts of debt and obviously, maybe not the right management to handle that sort of, the distribution and the content business all at once. you know, we have a very clean balance sheet. i don't know if we have to do anything. now obviously, there's a race for size and scale, but i've not heard our name in any of this to be honest with you. liz: well, the big streaming play at fox is free and they have seen huge growth. charlie: i hate reporting on us, other than to say that some of the greatest managers of all-time are under the fox network. liz: [laughter] charlie: i just want you to know
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i think you're the greatest, i love suzanne scott. is that all right? liz: lauren patterson, charlie gasparino, thank you very much. dow is hitting session lows we're down 205 coming right back , don't go away. . . . . i order my groceries online now. shingles doesn't care. i keep my social distance.
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- hello, friends. michael youssef here. you know, the right says that christ was conservative. the left says christ was radical,
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but christ is the creator, god in human flesh, and he's the only one who can give you peace, and he wants to give you that peace, eternal peace. will you come to him? - [woman] are you looking for peace that can withstand any hardship that life can bring? visit findingtruepeace.com to find answers. that's findingtruepeace.com. ♪. liz: all right, so folks, from peak to trough which is where we are right now, the trough we've seen a 300 point swing for the dow jones industrials. we're down 223 right now. a significant drop-off in the last three minutes of trade. laggards at the very bottom would be chevron. we talked about chevron because warren buffett exited 51% of his remaining shares in the energy giant. industrials, energy, financials
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really pulling markets down right now. in these final moments of trade. let's bring in the "countdown" closer valuations will leave little room for mistakes here. he doesn't want you to fall into any traps. ted oakley, ox bow advisors will tell you where you should put your money. in this atmosphere, ted, what do you like here? >> liz a mixture of things that pay good cash flows. merck has sold down. it is half the multiple of the s&p right now, 3 1/2% dividend. they will spin off a company. we think they will be doing a lot better. enterprise products, a great natural gas pipeline. a 7 1/2% dividend. we really like that company, in the medical area, medical reit, medical properties trust which is a great triple net lease trust that goes to primary hospitals. all those areas pay good dividends. we like what we see there. liz: interesting that you picked
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merck. warren buffett exited a big portion of that. he also got out of bristol-myers squibb. his team who are in charge of the stock portfolio are not in love with the pharmas. you say cash flow is important here but what is the nut as you look at the pipeline of merck that tells you stay in this? >> what happened is if you look at oregon, this is a company they're spinning off. when they spin that off you're going to have a different balance sheet that will be better and you will have an earnings setup what you're looking at the next 35 years and i think you'll find overall that will really help merck. if you look at merck, it is down from 92 to about 79. it has some room to go here. like i say it is selling half the multiple. usually sells at a 10% discount to the s&p multiple. it is at a 50% discount to the s&p multiple now. liz: got it.
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3.3% dividend. not to mention your oil pick, pipeline pick has 7% dividend. we like stocks that pay us on days like this it where just about everything is moving lower except the airlines and electric vehicles. [closing bell rings] dow, nasdaq, s&p look to close at session lows for a loss of about 256 points for the dow. s&p losing 36, nasdaq down 76. that will do it for "the claman countdown". "kudlow" ♪. larry: hello, everyone, welcome back welcome back to "kudlow." i'm larry kudlow. president biden out on the stump today. take a listen to what he said. >> a job is about a lot more than a paycheck. it is about your dignity. it is about respect. it is about your place in the community. i really mean this, about looking a kid in the eye saying honey it will be okay. larry: so i certainly agree with president biden about the dignity of work. work is a virtue. it is ingrained in

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