advertising, distribution and sales and here is where you know more is coming, bob, the ceo of cbs viacomeeting with top executives and vp's and they'll be planning out strategy for further cuts going forward, what we understand in the near term, don't ask me to define near term -- ashley: whatever the heck that is. >> 6 months or so, we are talking hundreds of cuts, long-term much more than that, you combine them both, 15, like 25,000 people, we will talk about a lot going forward, we should point out that they have cbs viacom has no comment but this is happening. expected, we were first to report it was to happen before merger was completed, it was completed before the end of the year, again not a story i like doing. ashley: you get two companies merging. >> it's a lousy word, wall street, we have to report this because this is interesting, leads to higher stock prices, i want to switch gears to i don't know what was funnier yesterday larry kudlow's -- ashley: denial. >> or donald trump and tax cut, he said he was better than lincoln. ashley: well, okay, his opinion. >> better than geor

as media giants viacom and cbs continue to integrate, the combined company is seeking to cut some majorat of course is sending employees reeling about their future at the newly-minted viacom cbs, and the stock isn't helping. it's down more than 3%. charlie >> we have a little more insight into how many people are going to get cut -- are going to get cut and when this thing is going to happen. bear with me. i want to point out, again, i don't like doing these stories. they matter for wall street because stocks often move on these sort of -- on material stuff like this, often move up unfortunately. liz: wall street calls it synergies. we call it layoffs. and they are painful. >> they are painful. we've heard that there's already some cuts already going on, but the main cuts will begin in april. we hear over the next 12 to 24 months, it's going to be into the thousands. and it could be anywhere from 2 to 4,000 cut. that's a big number. here's -- that's the number inside the company. we should point out that the pr department at viacom did not confirm, did not deny. we're talking in the tho

viacom cbs, down a lot, especially today, because this bolton book might be held up. simon and shuster is the publisher and that's a viacom cbs property. i think it's overblown. i have been adding to cbs today. liz: are you as disciplined as sarge is, phil? we have to let our viewers know, president trump is on your screen right now just arriving in michigan on his way to tour the dana auto parts factory. go ahead. >> absolutely. i think sarge made some excellent points. i think for the average investor out there, you know, what they are going through is fear right now. there's no doubt about it. i hear it on the telephone. i'm getting calls if the middle of the night, what the heck is going on with this virus, what do i do. my best advice is to stay calm. in the big picture, today's market is a great opportunity. you look at the stock market, it looked like it was going to fall out of bed, it was risk off all morning, yet we have come down. so my advice is embrace the volatility. there's going to be great opportunities for stocks that you want to buy that you couldn't

by 10 announced a partnership with viacom, cbs, during video content directly to the 48 inch stream in the mbyte does not go into production until later this year but the company's ceo is already thinking about making money from data going in and out of the ev. daniel spoke to ed ludlow at ces. smart device.lt a i think it will become like a fourth space. we go from a to b. it is a waste of time. with the technology we are ainging in, it will become living space. we will be able to work, we will be able to entertain and bring in content. it is the next logical sense -- a step. in a driving scenario, you don't want a movie there. or even we experience on the display is so great on such a big screen. >> what is the cost of being from a viacom? pictures,ng paramount it is huge. , andhole amount of content they are a global player. makell custom tailor content packages for our users. recognition so we can make tailor-made packages based on individual customer profiles. that is what we are going to do. we are going to provide under relaunch the perfect content. >> what is the revenue split?

bob bakish, ceo of viacom cbs.squeeze 500 million in cost savings out of this merger. that often includes people losing their job unfortunately. bob bakish yesterday, began discussing merger related cost savings with senior executives. this now in play. one other thing, new york state labor department mandates any major company that has layoffs more than 250 people to alert them. and so this is more than 250. this will be a significant round. liz: charlie, good stuff. thanks, charlie gasparino. look how the asian markets closed and it was not pretty. the shenzhen had biggest drop in eight months. the shanghai index got clobbered. cost kospi got clobberedded. pete lloyd is focusing in on merge merge markets in asia. he says invest there. you're not worried about the coronavirus? >> you're always worried about everything. to put it in perspective we're long term investors. we think underperformance in emerging markets is been around for a while, compared to domestic stocks we would start allocating a bit more to emer

we think were good businesses and poised for a pop are fedex, occidental petroleum, gilead and viacom cbs we think is a very good company as a spectacularly cheap price. we're expecting the stock to be substantially higher we do think at some point they might become a takeover candidate. no matter what happens here, we do think you win. >> so, lindsay, if you're winning with some of the underperformers, what places are you looking at then that could be the places you either want to stay away from or maybe get into because they do have that runway to continue the bull run from 2019 >> well, i think david made a very good point. if you think about the multiple that the s&p 500 is trading at, 18.4 times right now, that's very extended from the historic average over the last ten years. it's averaged about 15.6 times so we're getting into extended territory for sure i think we're at a period where we really need to see earnings catch up to that multiple. so i'm with david and the fact that look at valuations of some of these companies the ones that have run the most might be worth taking profi

. >> tm $2.tech media tell confacebook, micron, viacom, cbs, among others like way fair, names we don't talk about. >> i bought micron, i added to micron look, you've got three manufacturers there. if you look, and you should look at the press coming out, digiti times. in asia you're seeing they are increasing pricing and not increasing production. that's panacea. >> pulled back to 99, on a name of pullback to add to great long-term play. >> royal caribbean, they have a sell on dominos pizza by the way. general mills in terms of consumer, monster beverage, wholesale, eldorado resorts. obscure names. we don't talk about a lot of them obvious maybe that's where the value lies and maybe we should talk more often. >> we think given the changing lifestyle, the seeking of experiences, i think that cruises offer that and royal caribbean has done a great job managing capacity to continue to drive profitability. >> we'll take a break. what's up next on halftime report. >> betting on the cloud. sales force top pick at rbc. one of our experts owns the stock. we'll debate it in call of the day. >>>

. >> viacom cbs was down 4%. >> the fundamental change of their business model, i think that is whatably, right arguably the credit -- >> by owning all your i.p. globally, that's what discovery and disney -- >> he started that from when he had pixar, lucas film -- >> he has been canonized and he is the top, right? so where do you go from here here we are at the very beginning of 2020. what will disney look like in the coming year? and how does he top the year he has just had >> apparently they may make a movie this year that's not a sequel it's just in the works right now. it's just -- they're just talking about it it's not for sure. don't get your hopes up. >> it's working, they basically own the box office >> we'll see a halloween sequel. >> do you have disney plus >> of course >> there you go. >> the best performing stock of the last decade has been netflix. it's moving forward. all we can talk about is streaming and of all the c.e.o.s you just listed, companies, disney is the most talked about at least the last few months thanks to baby yoda and other characters >> come on baby y

look at viacom cbs, transitioning leadership to george cheeks from joe ianello. down a tiny fraction. got it. >>> the latest on impeachment. here we go. it looks like the senate lacks the votes to call witnesses. senator lamar alexander is now a no on calling witnesses. i'm going to read his statement. if this shallow, hurried and wholly partisan impeachment were to succeed it would rip the country apart, pouring gasoline on the fire of cultural divisions that already exist. there's no need for more evidence to prove something that's already been proven and that does not meet the united states constitution's high bar for impeachable offense. former governor of arkansas mike huckabee joins us now. i'm saying this thing is almost over. what say you, sir? >> as always, stuart, you're right. you're always right. by golly, you have done it again. i hope you're right. this thing has just gone on insufferably and you know, only pierre delecto in the republican house and senate and susan collins looks like they may vote for it. we don't know about lisa murkowski yet but

viacom will enter a renegotiation with the nfl for cbs, fox it's so important to them as well what areing to see there if you were to have one of the big streamers sign a big nfl deal as well, that would be a serious moment >> you see how much cash, alphabet more than $60 billion in cash. if they decide and they've not done well in sports. if they decide to go sports -- >> on youtube? >> why not >> listen, it would be a significant moment news and sports keeps it >> bob backish you interviewed, the c oh, of viacom talks about how the nfl values the production >> fox will say the same thing >> right, but at one point you got to value the check at a certain point the check, but the nfl obviously does matter this is the jim nance tony romo factor, they like that, the keynote. >> it's hard to imagine the nfl won't be available on major broadcast networks >> why >> because they like it, they want it. but it doesn't mean they can't apportion certain parts of the nfl on the others as well, get more for less from the viacoms and foxes >> this is the major sports story of the nfl, when i go to