Skip to main content

tv   The Claman Countdown  FOX Business  November 22, 2022 3:00pm-4:00pm EST

3:00 pm
your peoeoeoe woululullive i i a of coue e e e leadadads of these natititis woulllllllheirwiss banknknkccountntnt t't't'face it amamamican taxpaps t t t e moneneneto a a a underdedededation.n.n. we gt t t our conononiousne ananand ouououout of our goodwdt thee tototon, thehehe undededeevelopioioio shoulululd is kinininof moneyeyey.t t tke theyeyeyhould o o o a a ae to devevevep on o o oand its a huhuhu m m mtakeo ststst whery are,e,e,o staytatuquo, b b bause g g g me to o o live, u,his isia all l l er the w w wldmentntntot een eueueupia. somomomody avavavlaurenenenimonetetet in fo liz z z aman... uren o o or to yououou. rkets s s ght noin ralalalode, e retatata patch...h hher gsgsgo the avavavages a a a h you can n n e the e e w is up p7 tststsand ththths&p p p u u up, thaqaqaqs s s 100 pointntnt
3:01 pm
erythis s s aboututut 1%,%,%,ut the e e adlinenenemaking the b t ter r r e firsrsrst t t aring ge x x x nkruptptpt casasas , , ,ight nowis a a a l l le pictctcte of t t t delaw courthththse wheawmakekeke esesesting f f f tololola jujuju substststtial a a aunt of thehe sets a a a misisisng, ananansomm hahaha been stststen. meanwhile, we have brand new pictures caught today by the daily mail show disgraced ex -ceo sam bankman-fried far from the drama. he's in the bahamas. still there are questions about whether sbf could be extradited to the u.s. for questioning in his company's fallout. lawyers told the court ftx became bankman-fried's personal victim and called the crash the most abrupt and difficult collapse in the history of corporate america. that is a quote.
3:02 pm
kelly o'grady is live at the course in wilmington delaware. kelly, look. lawyers say ftx has more cash than they ever imagined when they looked at the books and saw this was a disaster but clearly not enough to satisfy creditors? reporter: yeah, that's right, lauren. the numbers they quoted was 1.24 billion but that's not nearly enough when you owe your top 50 creditors a loan over 3.1 billion. not to mention the rest of the million that they also have to think about. now today's bankruptcy hearings kicked off and the way that i would characterize it is the central challenge they framed up is bringing order to disorder in the world of ftx. now one lawyer sharing "what we're dealing with is a different sort of animal. unfortunately the ftx debtors were not particularly well-run and that is an understatement" and we were there as the lawyers left the court within the last hour, responding no comment to our questions, after a number of
3:03 pm
revelations came out of today's hearing. now first, you mentioned those stolen assets. they are saying that a substantial amount is missing, fatality ftx sharing they are continue together fight off cyberattacks since the day filed for bankruptcy and lawyers also revealing ftx is in constant communication with the justice department and the cybercrimes unit of the new york u.s. attorney' office has opened a criminal investigation. the second one i want to highlight is that ftx customer data will continue to be redacted, including that of the top 50 creditors while representatives of the u.s. trustees office argued for full transparencies, the judge did rule in favor of ftx, that it will be revisited at a december 16 court hearing and finally, as sam bankman-fried hides out in the bahamas, we're learning where some of those billions of dollars went. liquidate or s did agree to con solemn the two bankruptcy cases in delaware today but admitting they are still holding on to assets they directed the former ceo to transfer, without authorization and even more wild
3:04 pm
, you know those mansions and those yachts in the bahamas? well ftx lawyers revealed today that 300 million in company funds were used to purchase personal real estate so no wonder there are calls for when is this guy going to be extradited back to the u.s.. there do need to be charges filed and legal experts are telling me it could take sometime because folks want to build an airtight case to make sure those aren't thrown out, lauren, if and when he is brought back to the united states. lauren: this is just in credible kelly o'grady the dram that i feel came from that courtroom in your reporting really is something else. we appreciate it, thank you, very much. we have a fox market alert for you. disney shares on watch following that sudden storybook shakeup at the entertainment giant, that dropped on sunday night. look, the stock showed some magic yesterday, it gained 6%. today is a different story. yesterday's gains on news that the former ceo bob iger is the new ceo, making a surprise return from retirement.
3:05 pm
he even seemed surprised by it. to replace bob chapek as ceo. that was effective immediately. it was news investors, hollywood , disney fans, all cheered but today, disney shares in reverse, they are down 1.7% as further restructuring efforts begin to take effect. first, kareem daniel, the company's media and entertainment head, is the first to go. disney's hardly the only company making changes. elon musk reportedly recruiting new engineers for sales teams in the new hard core twitter 2.0, that saw mass resignations and layoffs since this deal closed. that was october 28. out with the old, in with the new. twitter is a new company and value is new, when it comes to retail. pretty strong retail earnings helping to lift the dow, the s&p , and the nasdaq today. they are all in rally mode. the dow is up 387 points right now.
3:06 pm
then there's best buy. they maintain their holiday quarter outlook. they say they are managing inflation and the stock is up double-digits, 78.87 a share a gain of $8. dick's sporting goods handing in a better-than-expected quarterly report card when you look at profit as well as revenue. the ceo, lauren hobart says the company is taking a more surgical approach to the holiday season and they are focusing on promoting specific products with an eye towards what athletes want. dick's sporting goods up 9% and you can really see this one week chart, how much the stock has advanced, and one of the biggest movers of the day, this tuesday, of thanksgiving week, abercrombie & fitch, do you guys remember them? they are up a whopping what is that 19.5%? strong revenue and surprise. they reported a quarterly profit it was a penny but it was a profit and unexpected.
3:07 pm
the gains today just as strong as the cologne in the stores, remember that? i used to say, can you please turn the lights on so i can see what it is you're selling? okay, that's today. tomorrow, that brings the data. the real data. the economic reports we get initial jobless claims, new home sales, manufacturing number s. the minutes from the last fed meeting, and just when you thought it was time to go into holiday mode, maybe shut off a little bit, we're telling you not yet, and we take that to the floor show we have our trader scott bauer and steven sarge guilfoyle joining us this tuesday. scott let me begin with you. it seems like it feels like this markets on cruise control. do you think investors potentially are missing a big catalyst? pick the catalyst. could it be this rail strike which could juice inflation, the opec meeting in earlier december, what do you think, scott? >> i think there are so many things out there that at any
3:08 pm
one-time, literally, any second of the day, can derail what's going on right now. i'm not saying that's going to happen. you've got those two things you just mentioned about. you've got a diesel shortage. you've got all of these economic reports coming backup and oh, yeah we still have the fed. people still expecting a pivot from the fed, that they are going to come out and just raise 75 basis points again, but that they may say okay, that's it for the extreme hikes. we're going to start tapering those down. now, again, i'm not saying any of those will happen, but there is certainly a lot out there that at any one time can happen, and then there is still the ongoing war in ukraine and russia, which we know has impacted economies throughout the world, so i'm not trying to be gloom and doom here especially with the holidays. the rally is nice. i do think that we can go higher into the end of the year here, but i think especially with where the vix is now, lauren, it's the lowest its been in six
3:09 pm
months here. there's no reason, absolutely no reason in my opinion, for an investor not to buy a little bit of protection if you want to stay in this market through the end of the year. lauren: that's why i brought up cruise control. i was thinking of the vix and just this complacency that seems to be forming. guys bring backup whether you want to do the nasdaq losers or the s&p 500 losers because both of those charts have the same stock this number one, and that is dollar tree. i bring it up because scott, you as well as sarge, both like it. sarge, you first. why do you like dollar tree and why is it down so much today, nearly 8%. la[lr]llus s v., tne i lo othsu aeatie g thgo bcen ni c tegonteowwe oc13 one lathf eabao efe en soleettst
3:10 pm
sts ntceet hiesag tatorometwi m h fthesaswn ilomctesl get tough within six months. lauren: yeah, you know, i agree with you, sarge. scott give us your opinion, quickly but let me just put my two cents in here and you can tell me if i'm right. when i think of dollar tree i think of trading down if you will looking for value, and they actually sell a lot of
3:11 pm
consumables. and there's not a big profit margin on consumables, so dollar tree is in the right space at the right time in an economic downturn but their profit margin s get rid because they aren't making much money on the consumables that they sell. rtrtrtrtctctctgogogogogo a a a o g g gaiaiaiaiaiaiaickckckckckce reeeeeeeeeee s s s ss s s ththte thththththththakakakakakr r r r. ovovovdododododorerereres sell-off here, and sarge, i've got to ask you a question. when is the last time you were
3:12 pm
in abercrombie & fitch and spray ed that cologne all over? >> i have not been since i had to buy presents for my wife when she could wear those clothes. lauren: [laughter] honestly i think it might have been the 90s. one quick one for you, sarge. i want to get you back in here. zoom became part of our lexicon during the pandemic and that was the last time that the stock was trading at the high levels it's down 90% since october of 2020. they reported today. sarge what's your take on zoom? ss abisnylehegepud ou iwiru a . a alett oue t ree ioomalo poitalk he d
3:13 pm
thti is 7om iar soe but this is where zoom possibly turns around. lauren: how many zooms are you doing per-day now, sarge? >> if i work for somebody else i guess i'd be doing a ton of them, but it's -- lauren: give me a number. scott? >> likewise. definitely less than five a week lauren: yeah, the worst is, when you're physically in the office, and you have to zoom with a co- worker at home. sorry, it ruffles my feathers every single time, scott bauer, steven guilfoyle, thank you very much and happy thanksgiving, gentlemen. >> you too. lauren: inflation is a theme this thanksgiving, and certainly this christmas is driving up the cost of christmas toys but one company is actually using that to their advantage, mg entertainments makes it uber popular, the ceo, izaac larry, is here on what's surprising about the surprise this year. first we check the big board, still in really strong low volume but very strong rally
3:14 pm
mode. the dow above 34,000, up 382 points. "clayman countdown" is coming back after this. nexium 24hr prevents heartburn acid for twice as long as pepcid. get all-day and all-night heartburn acid prevention with just one pill a day. choose acid prevention. choose nexium.
3:15 pm
at adp, we understand business today looks nothing like it did yesterday. while it's more unpredictable, its possibilities are endless. from paying your people from anywhere to supporting your talent everywhere, we use data driven insights to design hr solutions and services to help businesses of all size work smarter today. so, they can have more success tomorrow. ♪ one thing leads to another ♪
3:16 pm
3:17 pm
3:18 pm
lauren: honey a shrunk the toys, mg axe entertainment one of the large its and fastest growing privately held toy and entertainment companies is expanding its miniverse of toys launching 200 miniature versions of its full-size toys and they are expected to hit the market next month, all selling for under $10. mga brands include little tykes , lol surprise, brat s and rainbow high, you know
3:19 pm
them all. you've bought them all and you might continue to do so. keep in mind the retail has become really a mix of which company answers inflation best for its customers. its been particularly hard for mga's publicly traded rival s so you can see here both hasbro and mattel struggling recently but look nice gains today. mattel is up 5%. hasbro at 60.80 is higher today but hovering near its 52-week low, and you can see that in that chart right there. so we ask, what is mga doing differently? izaac larian is the ceo joining us now. is this shrink-flation, or something a little bit different? >> hi, good morning. lauren: good morning. did you just say good morning? >> somewhere in the world it's good morning. lauren: good afternoon here. >> so thank you, thank you for having me.
3:20 pm
at mga we noticed the inflation coming early on so we have developed over 200 toys below $ 10. this is one of them. this is going to be one of the hottest toys ever. lauren: is that, what is that? >> okay, so this is basically, i don't know if you know about the food craze that goes on. i don't know if you can see these in the camera, and you can make different foods, miniature foods and dry in the sun and collect them. this is a big craze, it's going to be at walmart on december 5. lauren: how much? >> under $10. we have this one here which is $ 10. lauren: yup. this one here is $7. lauren: okay. >> so it's a big deal. so yes, mini is the way to go because kids and adults are buying them. our iconic bratz, we have literally replicated the
3:21 pm
originals to many bratz and these are $10 and we even have mini cross cosmetics. so i don't know if you can see it. they are real. i put my eye shadow on. lauren: [laughter] when did you say or you said early on you thought mini was the answer to inflation define early on? because i'm imagining the supply chain is still difficult, you got to get the items here. what's early on and did you make it? >> okay, so we noticed this trend early in january, with the inflation 23% our costs went up 23%, so we said okay, there's going to be an inflation , there's going to be a recession, because consumer s are going to be stretched but every parent and grandparent, gift-giver needs to put a toy under the christmas tree, so why don't we come up
3:22 pm
with a whole line of toys below $10, and give them the opportunity to bring that gift home, and we have seen early success. i mean, this mini surprise, which is in collaboration with hersheys and pez, and other companies, is selling out, if you go to walmart, target, amazon, it's selling out like crazy, so we have noticed a craze and the consumer who is stretched and these toys i think is going to help them. over 200 toys under $10. lauren: you should make a crystal ball because if you predicted this , back in january , i'd buy your crystal ball. you were right on, sir, but i guess you saw it. you said your own costs were up 23%. i remember, it was a few holiday s ago, the joy or the surprise of the lol surprise doll with the
3:23 pm
physical unwrapping of all the parts. as a parent i thought it was the most annoying thing because i had to help and then clean-up but that's what the kids loved. what do they love about the mini toys? >> on the mini food, the beauty of it is all first of all the element of surprise is still there, but you make basically an activity toy, lets you create your own toy, when you make a pizza and i make a pizza, it looks very different, when it's done and over with, so it also takes care of fidgeting because a lot of kids are fidgeting. it's a great toy. it takes 20-25 minutes of play for a little kid to do that. believe it or not, adults are doing it. one of our buyer's mother whose 80 years old we sent her some samples and she got addicted to these and she's cooking all of these mini foods on a daily
3:24 pm
basis. lauren: that's so cute. i don't think my kids could sit for 20 minutes though, maybe 10, maybe. >> they will try it. lauren: where are your factories >> we are in china, and we have the largest toy factory in the usa that makes l'il tykes, and we have those minis also so you open these and you decide. lauren: how is it going in china now though? they are still doing covid-zero, a fifth of the chinese economy is currently impacted by lockdown, and covid-zero policies. has that impacted your ability to get things there, to here, when you want them, for the cost that you want them? >> well two things. first of all, yes, covid, zero- covid policy in china is frankly very annoying, and because covid is coming to china after everything that they have done, but the supply chain had
3:25 pm
gotten a lot better. last year, this time, we were paying $22,000 for containers to l.a. and it would take 60 days to get here. now we're back to the levels of $2,500 per container and it takes about 20 days to get here so things are getting better in the supply chain but definitely the recession, the inflation, is going to be here for a while. it's not transitory. it's going to be here even though the interests is going up my prediction is that the inflation is going to be with us for the next five or six years. lauren: that's your crystal ball , inflation is going to be with us for five-to-six years even though if i'm quoting you correct, the cost for you to get a container went from $20,000 last christmas to $2,500 this christmas? >> yes, that's correct. but that's only one element. the cost of labor is up.
3:26 pm
the cost of, you see the oil prices up through the roof and we buy rezin, the cost of plastic is up, the cost of energy is up, thanks to russian war. everything else is up, so yes. it's never going to, i don't think it's going to go to 2% for the next five or six years. it'll maybe drop to six or 7%. lauren: izaac that's the music we have to go. dire forecast but we do appreciate it. we also have a national rail strike, threatening to play grinch and we'll go straight to the white house for the latest on this potential strike that could absolutely cripple the supply chain. the timing could not be worse. markets still up, dow up 388, "clayman countdown" coming right back.
3:27 pm
♪ at prudential we think you should say it when things go right too. like, when you score your dream job. sell your business. or discover she's smart... really smart. now what? here's what: you connect with prudential's rock-solid team serving over 50 million people. with investment, insurance and retirement know-how. who's your rock? visit prudential.com or speak to an advisor today.
3:28 pm
3:29 pm
- my name is deven schei and i served in the united states army. back in 2004 when my brother came back from his first tour, he asked me to make him a promise and that promise was if anything ever happened to him overseas that i would finish what he started. unfortunately, my brother was shot in 2005 in the head in mosul, iraq. three years later, i knew that i needed to fulfill that promise. it was about finishing what the schei name started. and july 2nd, 2010, we were called on a mission. and that was the day i got hit. transitioning back to civilian life was extremely difficult. you feel like an outsider every it was hard to admit defeat. and that's exactly what i felt like i was doing when i finally contacted the wounded warrior project. i knew that i needed help. and when i reached out, they gave me tools to better my life. they truly saved my life.
3:30 pm
if you wake up thinking about the market and want to make the right moves fast... get decision tech from fidelity. [ cellphone vibrates ] you'll get proactive alerts for market events before they happen... and insights on every buy and sell decision. with zero-commission online u.s. stock and etf trades. for smarter trading decisions, get decision tech from fidelity. ♪ ♪ mercedes-benz is turning electric... completely... on its head.
3:31 pm
bringing legendary design... and state-of-the-art technology... to a fully-electric suv. the all-new, all-electric eqb from mercedes-benz. lauren: call them the dynamic duo. burlington and american eagle helping to boost the major averages today so burlington stores, look here, up 19.9%. they are upbeat about the holiday quarter, that over shadowed a lower than expected third quarter earnings report. the ceo, mr. michael sullivan said look, not happy with the third quarter numbers but we're taking significant steps to improve the value and the mix of what we sell. we know this is primetime for
3:32 pm
off-price retail and investors seem to be convinced. american eagle also higher, post ing stronger sales for the third quarter that just rapped. the company said its measures to reduce inventory and reduce expenses are working, getting rewarded to the tune of 16% gains on wall street. the pandemic darling zoom, zoom ing lower after cutting their annual sales forecast, and goldman sachs and morgan stanley cutting their price targets on the stock. zoom has tumbled 90% from its october 2020 pandemic peak, when it became a lifeline for people. stuck at home, we zoomed, that's how we interacted with the outside world. sad, but true if we're still doing it now to some degree. dell technologies shares are trading to the upside, six and two-thirds percent, 43.80 a share posted better-than-expected third quarter results the computer technology giant credits an improving supply chain.
3:33 pm
that's good news helping to offset weakness in personalllll ocococzyzyzyzyzyzyasyeyeyeyeyeyl cococo tfafafa's's's$0$0$0ababas cathie woods, her ark investment doubling down in crypto buying $1.5 million worth of grey scale , bitcoin trust, the investment front also bought more than 1.3 million shares of coinbase this month, and it now owns around 4.7% of the crypto exchanges total outstanding shares. both of those stocks coinbase up 5.2%. well the biden administration scrambling to keep the trains running on time. literally, after one of the
3:34 pm
largest railroad unions voted to reject a labor agreement that team biden helped to negotiate. it is the fourth union out of 12 to shoot the deal down, leaving the very real possibility of a strike, of the nations rail workers, one that could seriously impact the counte c ilhappnds to hpoye, , i get into that i want to tell you that within the last 10 minutes president joe biden has now tweeted out saying he's going to extend the student loan ban on repaying federally-backed student loans until through junf those student loans federally- backed student loans will have to be paid until june 30 of next year. now on to this. yeah, we're about two weeks away from a possible rail strike in the u.s. , as the holiday shopping season is ramping up.
3:35 pm
now stores really need this holiday shopping season, because they need to recover from the pandemic. now a strike could cost the u.s. economy $2 billion a day. a white house official tells me the president believes a shutdown is an anthropology unacceptable because of the harm it would inflict on jobs, families, farm, businesses and community as cross the country. a month of unions voted to ratify the tent a ever agreement and the best option is for the parties to resolve this themselves. now the president is being briefed on "the situation" as it is unfolding. ahead of an association that represents the railway companies, says that they've already come up with a good agreement. listen to this. >> we need to do everything we can to avoid an economic crippl ing work stoppage. that's in no one's interests whatsoever. not our employees interests, not the carriers interest, not our customers interests. we need to keep the network moving. we need to keep the economy moving. we believe congress might need d de getd isf nome,there uiise
3:36 pm
sot , aiofet. en anow ths res,d,ok ongury nd te buquse ngeralhaav ris lyt t her s as 3ilndmaakg
3:37 pm
tht oa yo toua ov yveidnt thu. urururur: usisisisis p p p n thbibibibiioowrrrrlaon h ofofofofhel didididia a a a anv. weweweththththennmttttesesesesey teteteififif trararac drawdown at staff could put twitter users at risk. and season 3 fox news rewind financial crisis 2008 fox news and fox business biggest stars like liz claman, neil cavuto, and charles payne, take a look back at the events leading up to the great recession. got the six-part series now on apple podcast, spotify or fox news podcast.com but first, you
3:38 pm
like what you see dow rallying, s&p rallying, nasdaq rallying look at that. everything is up except for boeing, amgen and walt disney looking at the dow 30, "clayman countdown" coming right back. ou need it most? christian health care ministries is an organization with over 40 years of trusted care who understands the importance of family. a group that sees you for who you are regardless of your health history. offering values-based affordable health care cost solutions for people just like you and me. learn more today at your chm.org about healthcare that puts you in control.
3:39 pm
they're looking for you. who? who's looking? there is no time. they will kill you....but my daughter. mama.
3:40 pm
i'd like to thank our sponsor liberty mutual. they customize your car insurance, so you only pay for what you need. contestants ready? go! only pay for what you need. jingle: liberty. liberty. liberty. liberty. u.s. gold corp is advancing its environmentally friendly gold and copper mining project and creating american jobs in mining friendly wyoming. with a proven management team and board including former secretary of interior ryan zinke, a tight share structure, and a solid cash balance, u.s. gold's portfolio of world-class assets are creating american growth and homegrown strategic metals as the us moves towards an electrified future. u.s. gold corp.
3:41 pm
3:42 pm
3:43 pm
lauren: welcome back. another speed bump, i guess you could call it a speed bump in elon musk's flight plans for twitter's blue check mark, so he's holding off on re-launch ing the blue check verification subscription until there's "high confidence of stopping impersonation" it wasn't off to the best start so they made the announcement in a tweet of course also saying he could use different color checks for organizations and individuals, okay? at the same time, there are growing concerns about the safety on the site, after twitter security and privacy leaders quit, in the days after elon officially took over the company last month, so, you
3:44 pm
have impersonators, cybersecurity anxiety, should twitter users also flee the nest like half of the engineers apparently have? we have that question to the ceo of cybersecurity company shark tank star robert hershevek. robert, thank you. fox business exclusive we should mention that. i always like talking to you. what do you make of what musk is doing? >> it's a crazy time there. the blue tick thing amazes me, because i always think it's the old saying, any club i can get into isn't that exclusive, and so the problem with the blue tick mark is anybody can pay their way there. lauren: right. >> i think he's going to struggle that. am i paying money now to be verified? i don't know who people are. lauren: but the advertisers have left. >> the advertisers have left. lauren: so he needs revenue and subscription equals revenue. >> but lauren, how many verifications you need to sell? i think elon is a really smart guy and i have a lot of faith he will figure it out and this is a
3:45 pm
bump in the road. i think the bigger issue right now is how do you monetize twitter? lauren: well i don't know that, how? >> i also don't own tesla and i'm not the richest man in the world, he is and it's his privilege to figure it out. lauren: you say that and i think of tesla and i think of the stock. it's down since october 28, it was the day he officially had twitter, tesla stock is down 25% in that time. it's just a short period of time his wealth down this year. he lost $101 billion. he is still the world's richest man. he's worth $170 billion. i am sure he doesn't care, but, what he's doing to twitter is effecting tesla. >> well, what i worry more about as a tesla shareholder is every human being only has so many cycles. eventually you have to sleep. i sleep four or five hours a night, and i run $1 billion company. he's running multiple what's
3:46 pm
that, the boring company, spacex lauren: twitter. >> there's a lot of stuff there from a security perspective, we don't really worry about the security of twitter. i mean, i think -- lauren: so you're not worried? >> i think when your security team leaves there's definitely a big gaping hole for the security of twitter but if we look at it we don't have a lot of personal information on twitter. you don't have your credit cards you don't have your health records. twitter is more a psychological call issue than it is a security issue because the big issue with twitter is impersonation and bot s. lauren: yeah. >> that's the big issue and they are trying to do influence so for us it's more of a psychological issue. how many of those users are actually real and verified and how are they influencing you and me and politicians and everyone else. lauren: that's what he's trying to figure out and we wish him well because that's a quest i think a lot of people want to see financiers expose the algorithms and show america
3:47 pm
what you're being fed and why. >> but i think the one thing that i have a lot of faith in is i get my news off twitter. most people today -- lauren: you're confident in saying that? >> i am confident in saying that and that's the great unlocked value of twitter and elon is a really smart guy. think about it. how many of us go to twitter to get information as opposed to a newspaper or someone else? now, a lot of it isn't real, and it's bots, but you've got to filter that. i have a lot of faith in it. lauren: the cyber risk index, from trend macro, finds that 32% of global businesses have suffered a cybersecurity breach this year. a third. i think that seems low. >> yeah, you and i were talking i do think it's low too. lauren, it's interesting. there's a law right now going through the senate that starting next year, all public companies in the united states will have to disclose a breach within four days of being breached. we worry about that at sicyderes
3:48 pm
, because most companies aren't in a position to know they are breached. the average enterprise when they do have a compromise has been breached from three-to-six months and when you get really bad data and people steal a lot of stuff it's because they are getting in your system for a long time. lauren: that's astonishing. robert herjavec, thank you very much for coming on. that makes me nervous especially with all of the fraud that we see over the holidays. we're up against a hard break and we'll be back with the "clayman countdown" right after this.
3:49 pm
let's dive in! but what about your back? it's fineeeeeeee! ugh! advil dual action fights pain two ways. advil targets pain at the source, acetaminophen blocks pain signals. advil dual action.
3:50 pm
. .
3:51 pm
hi, i'm jason and i've lost 202 pounds on golo. so the first time i ever seen a golo advertisement, i said, "yeah, whatever. there's no way this works like this."
3:52 pm
and threw it to the side. a couple weeks later, i seen it again after getting not so pleasant news from my physician. i was 424 pounds, and my doctor was recommending weight loss surgery. to avoid the surgery, i had to make a change. so i decided to go with golo and it's changed my life. when i first started golo and taking release, my cravings, they went away. and i was so surprised. you feel that your body is working and functioning the way it should be and you feel energized. golo has improved my life in so many ways. i'm able to stand and actually make dinner. i'm able to clean my house. i'm able to do just simple tasks that a lot of people call simple, but when you're extremely heavy they're not so simple. golo is real and when you take release and follow the plan, it works.
3:53 pm
♪ lauren: disney is your worst performing dow stock as former chief bob iger takes the reins once again, wall street bankers are expecting him to make structural changes which likely will include slimming down the company's balance sheet. charlie gasparino is here. i mean is that it, espn? >> i'm talking to bankers. what is the low-hanging fruit? we'll get consolidations in terms of cost-cutting and who knows how much more money they
3:54 pm
will throw into streaming although, he was the guy, he was the sort of creator of the streaming strategy that chapek kind of took over. it is still not bearing any fruit. clearly he has to improve the stock price down about 60% over the past year. one way you do that is to cut costs. the other way, you can without cutting costs without firing people, cutting costs is getting rid of non-core assets. what are those non-core assets they can get rid of? espn is at the top of the list. dan loeb has been pushing for it for a while. third point activist investor fund. they initially put that on the table. dan backed off in terms of his dealings with disney. i'm sure that will be bag on the table. thatthat is a clear outlyer to r strategy. the other one is abc? do they need abc with disney? i don't know, is there synergies with the disney streaming
3:55 pm
products? maybe, maybe not. that is all the things they will have to look at because the journal had a good summation of chapek's demise. some of it is the woke stuff. no doubt that he missed that boat and he misjudged the mood of the country, implementing same sex kissing scenes into buzz lightyear. how much it turned off people. then he misjudged the strength of sanity san won ron desantis went toe-to-toe with disney and won. they lost a huge tax break. i think eiger will roll back some of that woke stuff. >> he is better with people. better with talent. better with that personal -- >> if the numbers are not working they're not working. this is a problem. that is why people are talking about them selling stuff. there is always the overhang and you know we talked about it
3:56 pm
yesterday, joe of the wrap put something else out today, could they be sold? who would buy it? lauren: yes. >> listen, i heard the name. he heard the name, apple. it is one company that has the money and has the size and the balance sheet. now, i don't think apple wants to run a theme park, an amusement park. i don't think they will want to run disney world. lauren: i think iger has too much pride. >> i don't think so, all these guys well sell their souls for shareholder value knowing the way i know all these guys and he will backtrack on wokeness if the stock goes up in a second. but apple, my guess is, if apple is going to buy anything they will want to buy espn and some of the -- lauren: parts of in a slimming down. >> some of the content properties that they have. i mean i think that is where it is going. bankers are talking about this but you know, he is only three days into the job.
3:57 pm
we'll see. lauren: bankers are talking to you. eventually they will say who they think the new iger will be when his term is done. >> two years, right? lauren: are they talking about any names to eventually replace iger who replace the chapek? another bob? >> one thing i know you want to wrap me here. chapek had no suck section plan. that is one of the problems. iger will have to get a succession plan going. from a corporate standpoint, say he goes, who comes in now? you really need something going and you know, i'm not an expert at this business but i'm sure there is capable people out there you know. lauren: charlie, thank you. >> jamie dimon maybe? you think jamie would want to run a studio. lauren: jamie dimon is good at whatever he touches. three minutes before the closing bell. thanksgiving week.
3:58 pm
the volume low. up almost 400 points. we have will rines. will, are we on cruise control or you see another shoe potentially dropping that can take us off this rally? >> i think it's a probably a little bit of thanksgiving week. lighter volumes you see outsized movements with penetrating volume. i think another shoe could drop. what is positive today, retailers, market are a bit nervous about reported good results. but when you look at companies like abercrombie, companies like best buy, is it really function of them selling more stuff, but as everybody knows prices have gone up. therefore their revenues have gone up? i think we think about continued interest rate rises into next year could well see earnings coming down. lauren: keeping more than half of money in stocks and the rest in fixed income is known as 60/40 portfolio right?
3:59 pm
it is the gold standard of investing. according to the leuthold mix is now on track for the worst year since 1937. why do you think that is and gold is up, i think still up today, first time in four days? >> yeah. so it's really a combination of two things which, you know, just have not worked. normally the whole point in having some ballast to a equity portfolio, putting fixed income in there, that provides some ballast for returns when equities are down but that has not worked because of rising interest rates and inflation. gold has performed today certainly on a relative basis versus stocks and bonds, despite the fact we had incredibly strong dollar environment which is typically very negative for fold. gold. since of the end of october, it looks like dollar peak and it
4:00 pm
may have rallied off that. lauren: we had the ceo of mgm entertainment, he said inflation will be a problem for five to six years. 15 seconds, what do you make of the next earnings season? do you think we'll see things get really bad in the coming, in the new earnings season? >> i think it is probably a still bit too early because a lot of this is very lagging. so far companies have muddled their way through. clearly technology companies have been hit hardest. [closing bell rings] i think a couple more quarters before we see a negative impact in the earnings numbers. lauren: thank you very much. the dow closing at the highs since august 16th. that will do it for "the claman countdown." ♪. larry: hello, folks, welcome to "kudlow," i'm larry kudlow. so i know we're coming into thanksgiving and it is truly one of my favorite holidays an

101 Views

1 Favorite

info Stream Only

Uploaded by TV Archive on