so much time on how do we find them, how do we pick them out and, of course, you've got your own way of doing it. fantastic stuff. tglr. and you know what's interesting, we came into the near -- the year, nancy, everybody wanted to be in the dividend stocks, but aristocrats, sometimes they've made big moves already, so i love the the premise. congratulations, we'll from time to time share it with the audience as well. all right, folks, i'm here out in vegas, and i've got to tell you meeting a whole lot of fantastic individual investors. people want to make money in the stock market. that's what this show is all about. keep watching and, of course, the next hour is really where you get all of the guidance. liz claman, unfortunately, you may need it today. liz: well, i'm too busy, i've been following your instagram and twitter feed. [laughter] and you're, like, there this in vegas with poll carry. i want to play. charles: yeah, yeah. [laughter] we're doing okay. liz: safe journey back.

we need you back, so be well. thank you, charles. we begin with breaking news. some of the world's top bank stocks are losing chunks of their market cap as we kick off the final hour of trade, and that is dragging down the broader market. dow jones industrials -- and, by the way, everything is off the lows of the session, but still the dow is down about 184 points. we had been down about 465. we are looking at what's going on here regarding the selloff. it's erasing much of the ground the bulls had gained during this hour yesterday. if you look at the dow jones industrials' 2-day chart, the blue chips at the moment are kind of coming back but still certainly not what happened yesterday, blasting skyward by 407 points monday afternoon. yeah, not there yet to find that number back. the s&p right now down 24 points. that loss at the moment basically yesterday's 40-point gain, can't get it all back. the nasdaq's 85-point sizzler just 24 hours ago has pretty

much been doused, down 128 points for the nasdaq. now, the heaviest weight dragging the the markets underwater, moody's downgrade of 10 regional banks. this move suggests that the panic this past spring sparked by silicon valley bank going belly up due to devalue bonds on its balance sheet may have left other banks vulnerable to the same issue, at least that's what moody's thinks. the kre down more than 1%, investors flee thing individual regional stocks which each lost a notch in the shower of moody's downgrades and warnings. it makes some sense, those names which include m&t bank, a $19 billion market cap, fulton, citizens financial, makes sense they would get hit anywhere from- 1-2%. but check out the big banks. although untouched by moody's scissors, bank of america, goldman and citi are all down. we've got bac down 2.33%, goldman sachs down 2%, citigroup down 1.7%.

and doesn't mean to say that the only sector targeted by the bears at this hour is the banks. look at the point process on the transports. so what we've got here is down 90 points. it eclipses yesterday's 76-point gain. of course, the transports include the truckers, airlines, railroads and package delivery names. ups actually had been much lower, look at it right now, till down about 1 is %, but at one point the shares had dropped to $176 a share at session lows, back up to about $180 at the moment is and change. this after the company, seen as a bellwether for the economy, reported weaker than expected revenue knew and lowered full-year revenue forecast. a a lot of parts that are moving at the moment, so joining me now, adviser group's chief market strategist, phil man cat toe and -- blancato and all things banking star chris whalen. chris, if you look at the dow heat map, the the laggard is pretty much aping the story of

the day. it is goldman sachs, as you see. the financials, all of them, are under attack. jpmorgan's also in the red at the moment, not by nearly as much, down about, under 1 is %. what do you make of the sector selloff, and is it overdone or just about right, something you expected? >> well, no one expected this, liz. the rating agencies kept their actions very much under wraps. the u.s. downgrade obviously broke the bubble in a sense. we could ignore s&p for the past decade, but you can't ignore two of them. and, you know, in the world of credit, you use the lowest rating. so the question now is when is moody's going to join with everybody else at aa+? i hope krol isn't is -- isn't the the last. it was expected, you know, the u.s. is behaving badly in fiscal terms. we seem like idiots. we are. so the fed enabled this.

and finally the rating agencies are responding. but the key thing that your viewers need to understand is that banks are tied to the u.s. government. so the biggest banks eventually are going to get downgraded at least a notch to reflect the the u.s. downgrade. liz: well, but that's -- >> if you look at how they rate big banks, there is the an assumption of government support. liz: uh-huh, true. >> so once they go down a notch, the banks have to go down a notch. liz: okay. well, i mean, we'll see if that actually comes to pass. but, phil, when you look at what the downgrades mean and, by the way, it wasn't just names like m and t, pinnacle, blk, you've got outlooks that have been change to negative. capital one, citizens financial, fifth third9 and the banks under review get a little bit bigger, bny mellon, bancorp, state street, northern trust, truest. does this concern you, that there might be some type of contagion? >> it doesn't. i think this is a bit overblown. to be honest with you, i hear

the comments made and i look at what happened with the two banks so far that have been in serious trouble, i would leave first republic out of it, that's a much better bank. to me, the default cycle is only slightly up, it's very small. even credit card debt only slightly up. so i'm not in the camp that there's as much stress as is made out to be. liz: well, the markets are kind of running scared here. if you look at the treasury markets, we watched a bit of a flight to quality. if you look at what's going on with the 10-year, the 2-year, and we've got a whole bunch of options this week, is that something more than a flight to quality or flight to safety? >> no, it's an incremental increase in painful if i mean -- in pain. i mean, i agree with my colleague, the world is not ending tomorrow. consumer defaults especially are very low. where the pain is, is commercial real estate. some of the big players have

stepped back, they're not making new hones. and if you're -- new loans. and if you're in a business that was always assuming assets would go up in value and that we could refinance every seven years without paying any principal, that now is over. so we're going to restructure a lot of real estate. it's going to look like texas in the 1970s, liz. liz: yeah, we keep hearing that. chris, we keep hearing that, but suddenly we're looking at a federal reserve that seems just a slight bit more dovish. you had patrick park or -- harker -- >> can you imagine? there you are. liz: yeah. patrick harker coming out, he's the philly fed guy, president, he came out this morning and said that the fed may now be at the point where it can just -- well, he didn't use the word pause, he said hold steady on rates and wait to see what's going on. then, of course, you had tom barkin of richmond fed, and tom barkin says let's just be

data-dependent, we need to wait. and we don't have another meeting, phil, until september. so we're getting thursday the cpi number and much more on inflation. >> and truth be told, oil being up a little bit means they're probably going to level are off. maybe -- i think they might if miss to the upside. maybe we'll come in with a number slightly higher than expected, and this number of 4% on the 10-year makes sense. to chris' point about interest-backed loan, private equity plays very well. we're seeing the loans discounted down to 90 cents, they're actually being cheapened, so you see some buyers. yeah, we'll get some defaults, but that's a normal cycle. i'm not terribly concerned. liz: chris, what do you like right now? this feels like if there's a crash and there's a slow motion, it's put into super slow mow as we called it when we wanted to slow down a great play in sports, one thing you can do is you can get out of the way and

go somewhere else. what do you think? where are you going? >> i'm a fundamentalist, as you know, liz, and i like to buy quality cheap. so i've been accumulating new york community bank, i've been accumulating guild mortgages which is one of the best-run lenders in the country, small cap lender out on the west coast, purchase business. really no expense management, really well. another company that i like, sort of a client but i can't own the stock is mr. cooper. they're one of the winners in the mortgage space and relatively cheap right now, so i like to buy cheap when the cycles are against us. but the banks, look, they ran very well. western alliance was up 40 some percent in a month. so the street wants to to own these names, but i think it's going to take time for them to restructure their balance sheets so they can really get back to a stable profile that investors aren't going to worry about. that's really the issue. the reprice of deposits is ongoing, and it is the huge.

liz: that is very true. and, phil, go ahead -- >> great point. remember, the ped -- everyone went through -- the fed stress test, everyone went through with flying colors. [laughter] you look at some of this stuff and you would say, he's right, let's buy some of this stuff on the cheap. if you think rates are going to be lower in 12 months, then you're going to win for sure because the balance sheets clean themselves up -- >> yeah. i think what's interesting, the beat with on capital one. that's one of the best managed consumer lenders --? >> exactly. i couldn't agree more. i'd be a buyer all day long. [laughter] liz: what's in your wallet? gentlemen, thank you. and, folks, they're both giving that advice that is really hard to take and sometimes it's wrong, but a lot of times it's right. buffett does it too. don't buy on days where the market is skyrocketing, and right now it's not. we've got a selloff here and maybe some things are cheaper. here's a question for you, is outdoor decking company tradition benefiting -- treks,

benefiting from the upgrade? it seems like that based on the stock's year to date performance, the ceo next on the company's outlook as homeowners lock into cheap borrowing costs stay put. nobody want wants to give up that 3% mortgage, so they're gussiing up their decks? we shall see. "the claman countdown" is coming right back. ♪ ♪ this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay. your best defense against erosion and cavities

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liz: we should take a look at lowe's ask and home depot shares, and intraday you can see that while they are losing ground, they have definitely fought back. lowe's right now at $221 a share, that's a loss of just under 1. earlier it was at $27, and for

home -- 217. and home depot was as low as $323, it's at 328 right now. sill also in the -- still also in the red, but telsey group downgraded the the home improvement retailers to citing weak housing market trends and says consumers are more cautious on spending, particularly on high-cost renovation projects. but trex, the maker of composite decking and railing, says consumers are still splurging on improving their outdoor home spaces. where does the home improvement market currently stand as mortgage rates continue to rise? trex ceo brian fairbanks is here in a fox business exclusive. brian, if you could, compare this summer to previous summers. what kind of spend are you seeing people make on the stuff that needs your trex decking? >> thanks for having me back on the show again. this summer's very different

from last summer. we're just coming off of our second largest quarter in the history of the company. now, last year it was a strong quarter as well, but there was significant build and inventory in the channel. this year channel invenn stories are very low. the consumer has been very active in improving their existing homes, so while it's been more difficult for the consumer to be able to move up to that stuff that, say, moving from a 1500 square foot home to a 2500, they're repairing and improving existing spaces, and that's definitely benefiting the company. liz: are you seeing my kind of wobbling in the spend? -- any kind of wobbling? and i ask because, i mean, forget mortgage rates which, by the way, look at week over week. the 30-year fixed jumped markedly, i believe it climbed from 16 basis points from last week to 7.42% according to bankrate. that's pretty big compared to

that it was 7.26 last week. putting mortgage rates aside, americans are getting a little nervous, are they not, about keeping their wallets open on anything. >> clearly the higher rates are a concern in the marketplace, but the consumers who are doing the repair and remodeling spend, for the most part they're sitting at a 3 or 4% rate. that cash is still in their pocket, and they see the opportunity to continue improving the equity within their home by improving their living space. liz: well, what about the second quarter sales falling 7.if 7% year-over-year? to what do you really attribute that? >> sure. so last year we had a significant inventory build underway. coming through pandemic where the channel had been shortened for probably about a year and a half, they continued to build that inventory until they realized that there's a little too much inventory in the channel. so we were down a little bit on a year-over-year basis. our residential segment by itself was down about 5%.

if we look through all of the the channel inventory build and depletion noise, it was mid single-digit growth from a consumer sell through. and in this market with all of the things that are going on around us, we're pretty happy with seeing that the trex consumer is holding up well. liz: have you ever considered that maybe one of the problems is that your product is too good? i have a, rex deck -- a trex deck, nothing, no termites, nothing can eat it, weather can't affect it. so how do you t repeat customers when it's one and done? i mean, i will probably never need to e place this deck, knock on tre e x. >> in our case, it's a great problem to have. [laughter] we have the respect of -- to put that product in and they know it's going to last for the life of the home. but the larger opportunity for us is there's 50-60 million wood decks, and a large percentage of those decks are running to the end of their lives. and when that consumer's back in

the marketplace, the last hinge they want to do is install something that's going to fail again in the next 10-15 years. that's where where our products come in place, and we've been able to gain more and more share away from those wood buyers over time. liz: yeah. i mean, trust me, when we took off the wood deck, there was a condominium set up by termites and ants. [laughter] like a multi-floor condo system there. [laughter] brian, thank you very much. bryan fairbanks of trex. from outdoor decking to home appliances, jeff flock is going to join us next as consumers air their dirty laundry about eco-friendly washing machines. something tells me some of you guys out there are having this issue. we've got a live report on what's going on there coming up. in the meantime, closing bell ringing in 40 minutes. s&p down 24 points, that's a half a percent. yesterday, yeah, it was up 40 points. so, you know, we're watching not

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liz: fox business alert, so we're calling a little bit of an audible here because i just looked up and said, wait, oil's now at $83 a barrel, just a penny off right now. it's the after-market, but in the regular session west texas closed at $8 2.92. here we are, $83 a barrel even

at the very moment. all right, let's get to some stockses, pop and drops here. investors have a beef with beyond meat. ing the stock is falling nearly 15% after the plant-based meat company reported weak sales, slashed revenue forecasts and walked back its promise to be cash-positive in the second half of this year. despite cutting prices by 8.6%, demand for beyond meat products continues to crumble. the ceo blames special interest groups that claim its products are not healthy or sustain by manufactured. the company, of course, disagrees. pox corporation, on the other hand, charging higher by 5.5% at the moment on an earnings beat. the media giant and parent of fox business is gaining about $1.8 # 6 to $34.94 and is on pace for its largest percentage increase since february of 2022. revenue remained flat year-over-year due to a softening advertising market, but ceo lachlan murdoch says

fox's dominance in sports content in particular considered the most valuable on television puts the company and its balance sheet in a strong position. the company also raised its semiannual dividend for class a and class b shares. and speaking of tv, billionaire charlie ergen wants to reunite his telecom empire by merging tv satellite company dish with broadband company echostar. the merger would bring together two companies that used to be under the same umbrella 15 years ago. he had pun off echo star in 2008, but if the merger actually comes to fruition, it will exchange 2.85 shares of dish common stock for each share of echostar. well, dish is getting a nice pop on in this, it's up 9.7%. echostar is hitting a 5 52-week high, it's up 1.5. from your tv to your toaster, just about every appliance maker is getting more eco-friendly. while that may, of course, help the environment and bring down

your electric bill, in some cases consumers are starting to notice a quality difference or a performance difference between these new green products and their predecessors. jeff flock is at an appliance store in new jersey with some insight on developing, i suppose, gap. jeff? [laughter] >> reporter: yeah, you know, liz, whether it's dishwashers that use a little bit less water or push for electric ranges like these new induction rangetops which are all the rage, apparently, theoretically replace the gas-fired ranges, or, you know, whatever it is, air conditioners, the hot water heaters, all of it is, you know, coming whether we like it or not. [laughter] and we've been talking all day to rich super who is the owner of abc discount appliances. [laughter] emphasis on the discount maybe. are people paying green for the green? >> they're buying green but

they're not paying extra for the green. you know, there's -- they do wind occupy costing a little more, and they'd rather spend less and pay a little more at the end. >> reporter: liz is talking about the potential that, you know, these things don't work quite as well, you know? do people like them as well in take me back into the dish -- the clothes washing and drying stuff. you say these now are more green, they actually use less water -- >> right. >> reporter: -- and less energy, but -- >> the issues come across where they use less water rather than soaking the clothes, they -- >> reporter: fill this whole tub up, right? and that was a little wasteful. >> it was. they became more exhibiter, they spray the clothes, but a lot of times kids' uniforms, muddy things aren't getting as clean. so, therefore, they're washing them again. so what are you really doing, if you're washing something twice, you're back where you started from. >> reporter: last question for you as we look at maybe -- i

don't know if scott's able to see the front loaders there, the kind of expensive ones, they say it's going to save us a lot of money on our electric bills. it does save some, but you had some numbers on the washing -- or the washing machines. >> right. they say that over the lifetime of an appliance, of a washer you'll save about $425 over that lifetime. well, the average life span of a washer or dryer is 10 years. so, you know, when you take the gas or the electric and the water, it winds up being maybe $5 a year -- or a month, excuse me, a month. so people aren't willing to spend 2, 3, $400 more and only save $5 a month. >> reporter: makes sense. makes sense. well, there you go, liz. i mean, it's a noble thought. and just to be clear, you're no climate denier. >> no, no. >> reporter: listen or or we've got to do something here, but -- >> hey, listen, at what cost? i believe that we do have issues, but i also believe that,

you know, by taking these appliances and running them two or three times to achieve the same thing, you're actually doing more harm than good. >> reporter: well, liz, you know, they've got the original toilets when they used less water, remember, they were bad at the start and we'd flush them two or three times. not to bring up a difficult summit, but they've gotten really good now. i don't know, no problems -- liz: very good. there's a choice of using less water or more. can you ask rich, because my biggest problem is a dishwasher that doesn't dry the dishes. so we literally are putting the dishes in the oven afterwards -- >> reporter: liz has a problem i drying her dishes. her dishwasher, the company which will remain nameless, and she's been putting her dishes in the oven to dry. >> really? [laughter] >> reporter: there's a lot of things about liz you've never heard before. [laughter] >> actually, one thing you can use, jet dry, that does help -- liz: we did. >> reporter: i assume she's smart enough --

>> i'm sure she does. that is a problem especially with plastic items. a lot of times they don't get as dry because they've taken that heating element and buried it. it would help dry before but now it doesn't. another energy-efficient move. liz: he's right. it's the plastic stuff. good stuff, rich and jeff. thank you very much. we appreciate it. [laughter] all right, the stampede to buy every available dose of weight loss drugs that are out there is proving beneficial hugely for novo novo nordisk and eli lilly. and now telehealth company hims and hers is getting into the weight loss management business, but in what form? we've got the ceo next. and talk about heavyweights, you're not going to believe this. even at the height of his career, star quarterback in the nfl joe theismann never weighed more than 190 pounds.

and his height? he's barely 6 feet tall. so how did joe tower over the competition, win a super bowl, get named mvp and then -- and in a way here's the real accomplishment -- create a whole new life for himself when right in the football prime of his life he suffered a horrific career-ending injury? he reveals it all in my brand new episode of my everyone talks to liz podcast. just dropped a couple of hours ago. folks, we've talked -- topped is.5 million -- 1.5 million downloads because people want to know how super successful individuals turn stumbling blocks into steppingstones so that you can earn and -- learn and do it too. joe theismann did it in not one, but two careers. and, by the way, wait million you hear the story he tells of stepping in for an injured punter. the quarterback said, put me in, coach, despite never having punted in an nfl game. you've got to hear what happened there. get it on apple, spotify,

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liz: if novo nordisk is hitting a record after new trial data show that its weight loss drug cuts the risk of major cardiovascular events by 20%. it's one of the latest highlyfect of i have weight loss drugs. right now up 16.5%. as demand skyrockets for these prescriptions, i mean, there are wait lists all over the place, or telehealth pioneer hims and hers, which provides telehealth services including appointments and consultations and prescriptions,es has not only

unveiled its new heart health program in recent weeks, it just confirmed the launch date of its weight loss management business. joining me now, cofounder and ceo andrew d can udham -- dudham. what's it going to do, what does it offer, andrew? >> hey, liz, thanks for having me. so we've committed to have the weight management platform out by the end of this year, pretty much right in time for everybody in january who's ready to kick start health and wellness. and what that's going to offer is a wide range of generic medications, nutritional benefits, behavioral health, all simple from a mobile app. pick up your phone, talk to a provider and get that delivered to your door. so it's going to be easy, simple, affordable and, hopefully, really, really effective. liz: when you say generic medications, i don't want to triangulate or assume anything because there isn't a generic ozempic at the moment, right? what medications are you talking

about? >> you know, there's a wide range of medications that have been around for nearly two decades, and if you go to these really fancy clinics out in beverly hills or new york, you'll be able to find doctors who know how to use them and find the underlying issues that you as an individual might be facing, and that might be why it's causing weight gain. so our aim is to use these medicines that have been around for a long time, help you get access to them at affordable prices and hopefully get great outcomes. liz: okay. because all people are talking about these days so semipick, oh, my gosh, this person lost 20 pounds, this person lost 50 pounds. of course, you also hear that once you stop it, a lot of people gain the weight back. will plus it's extraordinarily expensive, manager like $1,000 -- something like $1,000 perishing i don't know, whatever it is -- >> that's right. liz: but you've got everybody going head first into weight loss management. why so slow to do this, andrew? >> you know, we're just trying

to be really respectful of the consumer. the glp1 that everybody are really excited about, they should be excited about them. these have 15, 20% weight loss for an individual, but the reality is, is they are very new. the studies have been around for 9 months or 12 months and, as you mentioned, liz, people are starting to report some different side effects that are a little bit concerning to people. so as a brand with hims and hers, we hold and safety in the highest regard, and we want to make sure whatever we offer on the platform it's going to be reliable, it's going to be affordable, it's going to be safe. and i think until we can really uncover some of these unknowns with ozempic and we geoff i have, even some of the supply chain issues, people, as you said, are not getting reimbursed. this could be $1600 per month. we need to figure out these things, and once we do, we'll have a big range of those products. liz: okay. you're taking it slow and steady. you just unveiled your

cardiovascular care and treatment rah program. tell me about adoption, what people are thinking, and how do you do that when you are primarily a telehealth company? >> yeah,s this is incredible, right? hearse disease is the number one killer of men in the country. if so you're talking about 100 million people at risk. what we do at hims and hers, we can help diagnose in advance, help indicate that you might be a risk of cardiovascular disease and quail get -- actually get lipitor and crestor or actually built into your base treatment. if you're coming to us for something like hair loss or sexual wellness or maybe a dermatology issue, you don't have to make your routine any more complex. we can add this heart support benefit right into your medicine delivered to your door so you have one daily pill that can attack multiple things that you're strug struggling with. liz: i admire your efforts in telehealth because before covid very few people were inclined to talk to a doctor over a telephone screen.

now people are very comfortable with it. it's cost effective in many cases. as i looked at your actual business and the stock -- the stock may be down today, but it is up year to date. and when i look at what you're doing, you just reported a narrower quarterly loss and a surge in revenue. you raised your revenue guy dance. can you give us any clarity on when you might be profitable? >> you know, this quarter we continue our march of adjusted ebitda profitability. if you track that, we are marching really chose towards our long-term goals of a 20-25% ebitda business. company is growing exceptionally robustly. talking about 83% year other year this quarter. diversified across the hims business, the hers business, new categories like mental health that we launched last year. so i think there's incredible excitement around the business where we have confidence that we can hit some pretty impressive

milestones. we put out a 2025 floor of $1.2 billion in revenue and $100 million in ebitda, and i think there's a reassured confidence we can hit and surpass that meaningfully in the coming years. liz liz well, you guys are, in a way, a unicorn of sorts. you are a spac survivor. you went public via a spac, and you're one of the survivors is and doing pretty darn can well. increase up about 18. you just mentioned mental health, so you've got celebrity kristin bell. what has she done by being so honest and coming out and and attach thing herself to your company -- attaching herself to your company? what about people who say how can you effectively diagnose certain mental health issues and prescribe drugs without really having an extended session with them in person? >> you know, this is one of the beggest problems in -- biggest problems in our country right now. a report came out just a couple days ago that half of the country face a mental health issue in their lifetime.

this affects all of us especially coming out of the pandemic, especially with tough recessionary times. and so kristin bell and our mental health platform is all about normalizing the fact that struggling with depression, anxiety, panic attacks, these things are very common, and they're treatable. so at hers and at hims you can just come right to the web site, get connected with a psychiatrist in just one hour. this usually takes since months on average in person. within the day you can get a personalized treatment, a psychiatrist that you can message with and talk to to, and that treatment delivered to your door hopefully within a week or two feeling a lot better. liz: andrew, good stuff. thank you very much. we'll see you next time. >> thank you for having me. liz: the company is called hims and hers. charlie gas prix emo -- gasparino, him has a scoop on who will benefit from bankrupt trucking company yellow's liquidation of assets. by the way, if you bought the stock yesterday, you are up 28%

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liz: my goodness, look at the intraday picture of yellow corp. the wild ride continues in shares of the trucking company.

it had been red in most of the session. we're 11 minutes before the hour. charlie gasparino tweeted out. people with direct knowledge of yellow truckings significant assets bidders have emessengerred and sales are likely to pass the 1.3 billion secured debt. stockholders will get a payday if there isn't the emergence of significant unsecured, what? >> creditors. liz: creditors folks a second ago it was up 28%. and now at this very moment, can we see it, it is up 5%. so, charlie, in motion. >> we're moving the stock. by the way i don't do these stories to move the stock this is exclusive news to fox business on the claim man "countdown." here is what it means. now that they have, follow me here, we were both confused why the stock was up on liquidated

company to $2 a share. liz: i thought it was meme players. >> it is note really. it is actually not that. here is what it is. this happens in liquidation chapter 11s, where you go in, particularly where there are unions involved in the past and where there is not going to be a union going forward. it happened with hostess. i tell you that. they go in, company and financial advisors, they start, because they're not encumbered by unions, they have good assets, yellow owns the land on his plants and various properties, it ownses the trucks. it has good assets. because it is not encumbered by unions you're getting tremendous bidders from established players in this type of trucking called ltl trucking. >> truckload. >> less than truckload. liz: i know less than truckload. >> what i'm saying is, they're getting significant bidders from what i understand according to people close to the bidding process. they will get a lot more than 1.4 billion. where it gets tricky is in in

this bankruptcy process you see the emergence of unsecured creditors, people that, you know, i don't know, maybe they owe money to you know, whatever you know, a vendor or something like that. liz: okay. >> they don't think so. i understand that they, this thing co, they could get 1.8 billion for this stuff. that's the numbers people are talking about. if that does happen, there is a lot of unsecured -- liz: market cap s 148000000. >> that's what happens, i know, but the market cap got crushed. people stopped doing business with them. if that does happen, shareholders who are at the bottom of the line will get some money. again, if you want a analog to this, it is not hertz. people say remember hertz in bankruptcy, shareholders went up, that was not a liquidation. that was a chapter 11 reorganization. this is a chapter 11 liquidation. the analog to this is hostess.

when they blew up the brand, fairest parts of the brand, wonder bread was part of it to private equity and various places unencumbered by the unions that essentially put it again, even that company out of business. so this is a really interesting wall street play. there is another story here which i need to get to that the lawsuit that yellow filed against the teamsters, mr. o'brien was on earlier with cheryl casone today. they were seeking damages because they say he didn't negotiate in good faith. they wanted minor concessions from the teamsters and he walked away and what i'm hearing from inside the company is the initial number that you heard, $150 million for that? liz: yeah. >> is now likely to go up to 1.5 billion. they may sue teamsters, liz for the equity enterprise, excuse me the enterprise value of the

company which they value at 1.5 billion which is now being sold off as you know. liz: we have hostess ceo tomorrow. >> oh, really? liz: yeah. >> who does he work for? liz: hostess. >> no, what part, they're owned by either private equity firm. i don't know who owns them. liz: of course, right. this is an interesting -- >> that is the analog, hostess got rid of its union problems. they had problems with bakers unions and teamsters. jimmy hoffa was running it, jimmy hoffa, jr. liz: parallels. >> by the way i gave you a president, did you see that from it it wily. liz: from italy. >> this is what i do to ward off the evil people that attack me on twitter. liz: the italian horn. >> zoom in on this, this is what i do to all my haters. this is called, it gives you the back, you give me the evil eye. i ward you off with this. liz: all right.

>> just looking. made in china. >> it always works. liz: okay. >> so i ward you off with this. liz: i will take a gold one next time. >> take gold prices slipping a bit at the moment by $10 to 1955 a troy ounce. keep in mind they're 5% all-time highs. barrick gold seeing benefit of historically higher gold prices in the second quarter driving the company to an earnings beat but that beat was not enough to win over investors. shares down, profits 19 cents a share declined from 24 cents a year ago on lower production and higher costs. how can barrick regain its luster in the third quarter? we have ceo mark bristow. great to have you back. this is an interesting question. how do you do it. today you would thought there is flight to quality with nervousness in the equity market

so gold is down? >> liz, good to see you again. the way to do it we had soft first half. so by that very nature we'll have a better second half. so but remember, mining is a long-term game and on the gold price we just finished a quarter where we saw the highest average gold price for a quarter ever. so gold is not in a bad space. i think some people think it is going to go higher on the bark of dropping interest rates. people think it is higher already because of risk-on around the global economy. but, whichever way you look at it is a good gold price to be operating against. i think the copper price is a little softer but then if you look ahead everything points upwards for copper. liz: mark, where is your biggest demand coming from beyond say, for example, the numismatic

collectors and obvious people buying it for jewelry? >> so central bank buying is been the real strong demand, on the demand side of the equation and shrinking supply. so as you have seen, gold has become quite an important currency dealing with the sanctions and the general sort of deglobalization of the world and how you manage money. it you always has been, always will be but in recent times it has become very much an important part of that and the fact that, liz, if you look at you know, a mere back in 1972 an ounce of gold would buy you a very nice meal in downtown new york, that ounce of gold does the same. it is a good store of value. liz: mark, i can tell you we

have followed this story and people keep saying what does gold do? it is just 5% off its highs. we'll be watching it. thank you so much. good to see you. >> thank you. good to see you too. liz: mark bristow of barrick gold. not exactly a golden market. in fact we're still in the red but well off the lows of the session. looks like the dow jones industrials, s&p, and nasdaq will close lower but well off the worst parts of the session. [closing bell rings] moody's downgrading 10 renal banks setting a negative tone for today but you never know what happens tomorrow. that is why you have to into "the claman countdown." see you tomorrow. ♪ larry: welcome to "kudlow," i'm larry kudlow. all right, "bidenomics" is a ploy to destroy american emergency, all right? that is