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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  April 27, 2015 3:00pm-4:01pm EDT

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now. the market is down 15 points. "countdown" with liz claman kicks off right now. liz: melissa, thank you. does it all come down to six? sales of apple's iphone six and the massive numbers from last quarter that need to be beaten maybe. we're gaining it all. should you buy apple stock, the most important question. tech companies large and small trying to help victims and survivors in nepal's deadly avalanche. viber will tell us about its efforts to improve communication. they're showing real compassion here. he's often referred to as the fed when whisperer. what can john tell us about a fed hike being canned? a lot of breaking news. let's start the "countdown." last hour of trade. ♪
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liz: and we begin with that breaking news. melissa francis just told you about. timewarner cable reaching out to cox communications to discuss possible merger opportunities. but according to sources, cox, which is not publicly traded, but is the third largest cable company, did not show interest in a timewarner cable deal. we have you covered from every angle in the last hour on that story, plus everything that's happening with the fed and all the breaking news out of nepal. john to tell us how the fed will handle the strong dollar. blake burman with the latest details on how big business and the mergers like the failed comcast one will be treated under loretta lynch. scott redler, how to set up for apple earnings. how traders are setting up for the close. tom telling us what
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yemen tensions mean for prices at the pump. first, to our traders. here's the number. 2117.69. that's the lesm to watch for the s&p. earlier today, we hit it. we need to manage to close about that level. it will be the seventh so far in 2015. what's the trade? and why the reversal today? let's get to the floor show. traders at the cme, new york stock exchange. also, john, chief correspondent. to you first, scott, we had a great rally this morning. completely fizzled. what happened? >> you have to put into perspective where we came last week. last monday, 2,085. to hit 2120, that's 40 handles. we haven't had much power. a little upsetting we sold off. you had the weakness in the russell. the weakness in the mid-cap and bio. small red flag. as long as the s&p holds 2100, the active
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investors will stay on. >> we get the apple numbers in the 4:00 p.m. eastern hour. david asman wil and i will have them the second they come out. looking at the trades, what's going on? we've had the stock pull back from an earlier high. >> any time the stock gets a historic high. that report better be good. people are keying on 67 million iphone 6s. it has to be north of 60 to break that all-time high. people are expecting a big buyback. they want to see 150 billion and a dividend raise to 50 cents. liz: we need to get to allen at the cme. we're looking at treasury yields. we're looking at a tentative market in advance of an announcement from the fed. they won't be raising interest rates. but any move they discuss will affect the markets. what are those pits in chicago sort of bringing in, in the emotion of
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it? >> we're just seeing sideways action. if you look at crude oil. it traded at 3-dollar range. currencies trading sideways. a little bit of a bounce in gold. not much happening. new highs in the stock index. if we have a lower close, that's a key reversal. i'm not worried about that. the upside target in the s&p is 2100. every time we've sold off, it's bounced back the measured move distance of that sell-off on top of the highs. about 5% higher. it's slow and steady. you'll get these profit-taking bouts like we see today. liz: let me bring in john. all these traders are waiting to see what you have to say. what do you expect will happen as we go into the announcement of the two-day fed meeting. >> i don't think there will be any surprises. the fed set the table. they said they won't raise rates at this meeting their last
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meeting. what will come down to is how they characterize the economy. we'll have a report on gross domestic product which will look weak. and the inflation numbers will look pretty soft. so they downgrade their assessment of how the economy is doing right now. they also probably signal that they're looking through that and they think we'll get back on a better track later this year. liz: you're looking at everything from grain prices to oil prices to gas prices, tom, do you see any hesitancy, any skittishness in advance of this meeting? >> most people down here are looking at over the next couple of weeks heading into june, what we'll see, whether demand in gasoline picks up into the driving season. then further into june. what happens with the iranian deal. whether that goes deal and puts another couple of barrels on to the market here. we rallied 25% off our lows. >> is that all the tension in yemen. it's not that yemen is
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such a big producer. it's that they're near that gulf of aden. and that region is important to oil trade. >> although, if you ask a lot of traders down here, yemen is not one of the things they bring up. one of the first couple things they're looking at. certainly the tensions in yemen don't help. we're taking a break in the upper 50s. we'll see if we can head higher from here as we head into the summer. >> gentlemen, thank you very much. we're watching a market that is down. which is fascinating. earlier today, the dow jones industrial up 95. the s&p up eight. so, again, a little bit of a fumble. maybe it's a tired market. we bring back john as we say thank you to our traders. john, what is the number one thing that our traders have to watch and listen for when the fed statement comes out? >> well, you know, i think what's really important at this meeting is, there is a landmark that they're setting. this is going to be the first time in six years
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since 2008 when the fed hasn't given guidance to the market about where interest rates are going next. they've been saying things like they'll be patient. and they'll wait a considerable time. they've given dates and all kinds of hints that they won't raise interest rates in the past. this is the first statement that will come out since 2008 where they're not giving anymore of these hints. starting in june, although we've reported it's not likely in june, but starting in june, after this meeting, it's a toss-up every time they go out and have another one of these policy statements. liz: you said not likely in june. why not? and is it the strong dollar which actually has gotten slightly weaker, but up about 28% from its trough earlier. is it that? the labor numbers? lack of inflation? >> it comes back to these gdp numbers, really, that are coming out on wednesday, the same day that the fed report comes out. they'll look soft. they could have a one
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handle on them or be even lower. because the economy softened in the first quarter. this was because of the strong dollar. because the dollar is so strong, it's hurting our export outlook. the fed is reassessing. they're asking the -- the officials are asking themselves, is this economy going to perform this year the way they expected when they set out their forecast in march. it will take time to figure it out. it looks like june will be too early. this is the last thing i'd say, liz, is these next two job reports, the first friday of every month are really important. those will be the volatility days in the markets. we've got to see -- we will have to see really strong job numbers to move the fed at that june policy meeting. you're going to see a lot of action, the first friday of every month, including a week from now. >> that's a great reminder. people have put that to the sidelines. i think you're right
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because we had a terrible march jobs report. was that a blip? or is that the start of a trend? there are criticisms about janet yellen that she might be pandering too much to the stock market. you're one of the best interpts of fed thinking. is that a fair assessment? >> the fed does care about what stocks are doing. they care about financial conditions. if the stock market is strong, they think the economy will get stronger. and vice-versa. having said that, it's hard to make the argument right now that she's pandering to stocks. because, hey, look, they stopped the qe program, which the stock market was running on -- that fuel for a few years. she stopped it last october. now she's talking about raising interest rates. you know, if we've had a sideways year this year, it's partly because of federate increases. i think it would be hard
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to make that case that she's pandering to the fed. (?) you can argue that the fed has done that in the past though. liz: john, thank you very much. john, chief economics correspondent. we value anything you say on this subject. we have the closing bell ringing in 50 minutes. this is the way to behave during a crisis. as nepal's earthquake shears off mount h mt. everest and causes major damage. several americans killed. 4,000 others killed. dozens of climbers managed to survive. nobody knows who or where. it's impossible to communicate. not so much anymore. again, here's how to behave if you're a corporation. a tech company, voice and messaging app viber aren't taking a single dime for it. a fox business exclusive with one of their top chiefs. stay tuned.
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get ready for apple. will a potential 2 billion-dollar shortfall courtesy of the strong us dollar be a drop in the bucket for the tech giant? what should it do with its cash pile? and so many more questions. stay tuned. we're all over it here. fox means business. ♪
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liz: i had the opportunity to have quite a rocking night on saturday night in washington, dc. oh, yeah. this guy, i just ran into him at the white house correspondents dinner. bradley cooper, american sniper. he really wanted to talk to me, but i was very business with melissa francis and charlie gasparino. but he's a nice guy. team fox news and fox business in attendance. throughout the show, who else i ran into. you have to see the picture of charlie gasparino too. we need to get to shares of apple. moving higher after the bell today. what's the number one thing investors must be watching? there are a lot of things. will this be a slam-dunk for apple? jo ling kent has everything you need to be watching. jo: the street is expecting
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monster earnings from apple. first as usual, we're watching the top and bottom line. analysts expect the giant to earn 2.16 a share. revenue drives 23%. analysts estimate that nearly 60 million iphones were sold. if they hit that monster number, it will be the second biggest sales record for the iphone. remember the big record. seventy-four and a half sold in the last quarter of 2014. we may also hear about the apple watch as well. despite the fact that apple has said it won't break out the numbers. we may get more on that. the estimates on the apple watch are very strong. spr capital markets predicts 2 million were sold in the presale period alone. that will be on track for 20 million units of the apple watch this calendar year so far. the company is also expected to give more details on the stock buyback program. and we also expect to see more data on the ipad which has been struggling in the recent quarters.
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looking ahead, over the last four quarters, it's moved 4.8% on average the day after earnings. for this report, options traders predict a 3.8% upward move. lots of potential movement as apple reports right after the bell. >> jo ling kent, thank you so much. what are the tech analysts predicting for apple? colleen howard and howard. howard, i want to get to you first. you can aggregate through sort of the real feel of your followers on stock twits. what people are expecting for apple. what are you seeing on stock twits? >> hey, liz, you look great. >> thanks. at the party. right? i did feel comfortable with bradley. but i'm a happily married woman. >> he's been intimidated around me. liz: oh, you too? >> yeah, me too. it's a guy thing.
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it's been a long time. the stream has been bullish. i think you just had -- she just mentioned options volumes a three to 4% move. option traders are usually a gouge for this. we've been bullish for a long time and really bullish and correct. so i don't think today in the scheme of things means much. our streams have been long. very hard to bet against apple. my main indicator, liz, and it's been like this for eight years, has been the retail story. they have the trojan horse, that american retail location that brings people in to try products. liz: we've seen microsoft and samsung try to do this. tell us what you're expecting from apple. what's the number no one is looking at that you'll be execut scrutinizing?
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>> i think everyone will be looking at hints about the watch numbers. which i do expect they'll probably talk about in the earnings call here. i think they probably have nothing to be ashamed of on that front, by all accounts. it was very successful. liz: what about the phone units? i'm seeing everything from 58 million, maybe even 70 million for iphone sales. >> right. and even if it's on the lower end of that, even if we're at 58 million, that's a great number. it was only a year ago that the iphone sales seemed to be slowing down. and everyone had seemed to be saying that apple run its course with the apple product. they needed something new and splashy. they doubled down on the iphone. they didn't lower prices. they raised prices. that was a good thing. they came out with bigger models and storages. i'm interested to see how they break out the iphone six numbers. and if the iphone six plus and storage models ended up selling well
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here. it would validate its strategy. >> last quarter they did 74 and a half million phones. >> yeah, i'm trying not to think about granularity. >> that doesn't move a stock if they miss it? >> if they miss it, yes. but there's so many levers that apple can pull with respect to acquisitions. we haven't been talking about apple potential acquisitions for a while. apple has this big of tricks that they can use, but they rarely do. apple is not thinking about quarter to quarter. it's -- it's -- but like you said, they miss a number. the stock is not cheap. the stock trading at a high multiple still. so, you know, a 10% move is possible. i'm not thinking that will happen. i've been long in the stock a very long time. yeah, anything can happen. >> colleen, you're looking at ipad sales. no revolutionary ipad,
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just an h evolutionary one. >> i would be shocked if they went up. they've been on the decline. people are deciding to invest in the larger iphone. it has a bigger screen. the iphone six plus. you're getting into tablet territory there. if you'll buy a tablet or iphone six plus. people will buy that. >> started with the six plus. i couldn't handle it. i went down to the six. now i have the ipad. yeah, i am that person that had to give in with apple, howard. i have an imax. imac. >> i want to get her to the new gold laptop. apple is strong around laptops. i think where we're disappointed around ipad sales. you know, that laptop market is still a gigantic market. you know, my kids use it. they're living on the
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apple ecosystem. i think what people don't -- very hard to value for the analysts is obviously the stores. the ecosystem. the fact that from eight to 80, apple has a lockdown on an audience. then you have the genius bars. very few people talk about. very hard metric to talk about. that engages the customer for a lifetime. that's something that google and samsung can't do. best buy. it's an atrocity. apple systems, eight to 80. that's how investors need to think about the numbers. >> colleen, the services that howard touched upon. i'm thinking anybody can hang on every word about apple pay, or is it more itunes? anything about apple tv? >> yeah. i think we all kind of forgot about apple tv with all this watch hubbub. i think there will be incremental updates. another big thing will be on the dividend. i think that any sort of
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weakening in currency issues or other numbers could be made up if today apple says they'll increase their dividend by 15% or something. i think that investors will really like that. and that could be a good plus for apple. >> those numbers come out -- go ahead, howard. quickly. >> you make a good point about apple tv. we're not even talking about it. as you see, netflix gets better and better. the content gets better and better. we have two apple tvs. hidden away. another area where apple has ownage and they can continue to dominate. you bring up a good point. >> ownage. did you make that up? i love it. >> i make stuff up. why not? >> your wife. you blew your surprise. you'll probably get her a gold laptop from apple. we shall see. colleen, great to bring up, hey, i almost forgot about apple tv. howard, keep watching -- i have many more
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pictures of me with very important people. at the white house correspondents dinner. >> on twitter. we're one upping each other on twitter. liz: at liz clam. there you are. closing bell, 37 minutes. (?) the news maybe timewarner is looking toward cox communications. we have a new top cop at the justice department. loretta lynch takes over that top job. will she put over -- or will she effectuate or open the door to some of them? we shine the spotlight on her track record. nepal's infrastructure devastated. one telecom upstart offering major relief for free. who is it? how are they working? real heart and soul at this company. stay tuned. ♪
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♪ >> we have a fox business stock alert. us antitrust regulators have helped torpedo another -- chip equipment maker. live materials. thinking after it announced it had to scrap a 10 billion-dollar takeover of tokyo electron. it would have combined the number one and number three chip makers in the world. the deal ran afoul of us regulators. the reasons weren't exactly clear. regulators were supposedly saying, you know what, the combined company, it won't give benefits to consumers. but applied materials says us authorities told them it plans to address antitrust concerns were, quote, insufficient. shares of applied materials ending the session, we're down. nine and a third percent. we'll see with 31 minutes left of trade how it will close. breaking news on the merger front. we got word out that timewarner cable reached
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out to cox communications to discuss a possible merger. thithis has apparently happened in recent days. but a timewarner spokesperson just released a statement saying that's simply not true. we have not engaged in any discussions with cox. i reached out to cox communications. that company, number three cable company in the nation, telling me, liz, we won't comment on rumors about m&a activity. but we're not for sale. they're not publicly traded, by the way. we continue to explore potential growth opportunities. this is a company, cox, that has great markets and strong businesses. but they don't make rash decisions. hopefully there will be more clarity as the days go by on this. everybody looks toward lorettloretta lynch. she was sworn in this morning. just days after the department of justice helped thwart that merger between comcast
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and timewarner. what can they expect from the new enforcement professional? blake, there are a bunch of planes hovering over laguardia or chicago's o'hare, everyone is wondering if we can merge and grow under her. >> we spoke to different analysts just about that. they don't feel mergers and acquisitions will be a big target of loretta lynch. a couple reasons why. both pointed to the short time frame she'll have running the department under two years. lynch's bread and butter is federal prosecution. she could challenge a merger. there are several pending deals out there including at&t, directv, staples, office depot. laura craft, and heinz. as for her swearing, she didn't mention her views on wall street, m&a activity, or any of those potential deals.
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she briefly touched on issues relating to law enforcement, civil liberties, and cyber security. >> we can protect the growing cyber world. and we can give those in our care both protection from terrorism and the security of their civil liberties. >> loretta lynch is known for her time prosecuting terrorists in new york. she was tied to two very big banking cases as the us attorney in new york's eastern district. involved with citigroup's 7 billion settlement in the use of its role -- lynch has been criticized by some who say she went light on hsbc. >> we shall see. blake, thank you so much. closing bell. twenty-seven minutes away. the 7.8 magnitude earthquake devastated buildings and lives in nepal. took down the country's telecom infrastructure. but it couldn't destroy one telecom company's
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heart and soul. the company that's offering free relief and communication. we will find out who and how. and talk about printing money. it is estimated that apple makes a profit of $10,000 a second. will it give back some of that hundred and $70 billion tax money to shareholders with some type of dividend hike? we're 27 minutes away from the 14th hour. apple earnings coming out. we'll look at that report. and look who else i ran into at the white house christmas -- at the white house correspondents dinner. that's "frozen" fan favorite, adena mandela. a broadway star and glee goddess. ♪
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♪ liz: we have breaking news. there are now probable new cases of bird flu that have been found on four iowa farms. this is affecting a total of 2.3 million birds. the iowa department of agriculture is letting us know this right now. so far, 7 million birds have had to be killed in the midwest since the latest outbreak of the bird flu. but now iowa, it appears has seen a spreading of this to four previously unaffected farms. search-and-rescue operations continuing for a third day in nepal after that devastating 7.8 earthquake over the weekend. the death toll now estimated to be at 4,000. thousands of others are injured or missing. meanwhile, dramatic video capturing the moment the earthquake triggered a huge avalanche on the slopes of mt. everest where 18 climbers, a couple of
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americans were killed. dozens of climbers have been stranded. some have been rescued by helicopters. the person shooting that video. held the phone. kept running. hid under a tent. and was able to survive. truck drivers who haul goods from the nation's busiest ports in california have walked off the job. several hundred truckers are disputing their wages and their status as independent contractors. the strike is not expected to shut down business at the ports. comes months after the last strike costed millions of dollars. already, the avengers sequel is a cinematic smash. massive 201 million-dollar debut. it opened over the weekend in 44 countries. they're making us wait.
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already outpacing the 2012 opening of the avengers. it opens here in the us on thursday. hulk is my favorite. i don't know about you. under the best of circumstances, internet and cell service is spotty in nepal. now with the earthquake, it's become a huge and confusing disaster. one messaging app is parachuting to the rescue. phone and power lines down. there's an instant messaging and voiceover app that's making communication easy and free in nepal. called viber. it has suspended all charges for voice calls and messages to and from the nepal region. how do you restore communication in an area without access to electricity? we have in a fox business exclusive, viber ceo mike on the phone from london. props to you guys for cutting your fees completely off and to the region.
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whachwhachgwhat gave you the id? >> we did something similar in the philippines back in 2013 when there was a assume tsunami there. we were able to help. we decided to do it straight away. >> some businesses when times are tough, uber, will gouge. you guys are doing anything but. and you're not the biggest fish in the sea. whatsapp is the biggest. and you still said, listen, we have to have heart and soul over money. >> absolutely. we just felt like we needed to do something here. we had the ability to help. and we decided to do it. it was a genuine attempt for us to assist friends and families in the region to make contact with one another during what is typically a time of chaos with any communication system. >> total chaos. the one thing we keep hearing. people cannot find out if their loved ones are okay or even alive.
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talk to us about how viber works and where you operate. >> we're a free calling app that's available anywhere across the world. and, you know, we have a high number of users in nepal as well as other countries in neighboring areas such as india and so on. we decided to switch off the calling charges so that we could help people get through wherever possible. obviously on saturday, we weren't aware of how bad things really were with communication systems. we were unsure -- excuse me -- we were unsure if this was going to actually assist people in the area. we've seen a massive uplift in our calls over the last 24 hours. we'll continue to monitor, you know, viber usage to make sure we're providing the best possible free service to local users and anyone calling into the nepal area. >> well, you have a very easy app to download. how many people, number one, mark, in the region have used it before this? and have you seen a huge influx of users.
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>> so we have around 4 million users in the nepal area. or in nepal, sorry. we have around 40 million users in india. so we've got some big figures in all of the surrounding countries. globally, we have 560 million users. there's a good international coverage in that area. liz: can i ask before we go, how much you would normally charge under decent circumstances? >> it completely depends. the calling rates from all different countries are obviously different costs at different times. the viber service is always at a discounted rate. of course, if anyone has the viber app and they're able to call other viber users for free whether that's locally or internationally. we hope that will mean more people will be able to get in contact during difficult times. >> no gouging by the folks at viber. mark, you and your team
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deserve major thank you and props for what you're doing. mark hardy, viber chief operating officer. suspending. switching off all billing to and from the nepal region. closing bell, 15 minutes away. what does tim cook have up his sleeve besides how many ipads did they sell? how much money? and what do they plan to do with the cash stash? former apple insider and all around angel investor guy about what he's expecting from apple. managing director of garage -- he has his finger on the pulse of all things apple. ♪ ♪
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folks, you are looking at live pictures of a large group of juveniles facing off police. this is in baltimore, maryland. this is baltimore. you can see that people are throwing things. again, this is a live picture. courtesy of wjz. what we have is a street that appears to be a neighborhood street. but it is near a mall. and this all is, of course, being spurred by protests from over the weekend. businesses have been closed early out of fears of violence. police are responding with shields. a tactical vehicle as well. they're being pelted by rocks and bottles. police are responding by throwing some of the bottles and rocks back at the protesters. you can see police are actually walking backwards. this, of course -- this riot is in response -- i'm not sure i want to call it a riot just yet. but this situation is in response to the shooting of an unarmed
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african-american man freddie gray. there have been calls by baltimore's mayor to have answers by police. this is a tenuous situation. you can see as the protesters advance, police, i'm guessing, they don't want to have a massive confrontation. now you have people jumping on cars. police are backing away. we are going to keep a close eye on this situation at the moment. in fact, if it gets worse. we will go back to it. clearly police aren't engaging except by once in a while throwing back some of the things being thrown at them. very touchy situation right now in baltimore. we're ten minutes away from the closing bell. time for the "countdown" close. we want to get to nicole at the floor of the new york stock exchange. filphil flynn. then dan and guy kawasaki, how to play
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apple. nick, we'll start with you. we have the situation in baltimore. i don't know if the traders are watching that. >> absolutely. they're watching the screen. we have to keep the business watching that live as well. we're watching apple in particular coming up after the bell. and this has been a real winner. right now, it's up 1.7%. we'll see whether or not they had more apple sales in china than they did here in the us and option players are expecting volatility for that stock. apple and barrett gold. much like apple. running up. we'll watch for their numbers. (?) they've been selling assets. >> phil, give us the number one thing the traders and you are watching at the close. >> to see if the s&p can close higher. the pharmaceutical sector is weighing down on the sector. the biotech bubble may be bursting. that's nervousness. considering we should be enthusiastic because of
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tesla and good apple earnings to come. >> tesla shares jumping. tech giant apple reporting earnings after the bell. company is expected to top predictions. analysts have forecasted the world's most valuable company will post earnings per share of 2.16. revenues of more than 206 billion. joining me now, dan, managing director and senior analyst at fdr capital markets. along with guy kawasaki. long time apple watcher. i assume, guy, you also invest in apple back in the day. right? >> back in the day, my investment was employee stock options. liz: lucky guy. well, that's what angel investors do. what will be the one thing you're watching most closely when the numbers come out? >> probably the acceptance of the apple watch. it's a little early. but, you know, i think that's the question that
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everyone has on their mind. no question that apple will probably sell 5 million of them in the first month. or whatever astronomical number we can come up with. but then the long-term question is, once you get past the early adopters, does this watch hit main street? >> i have dan standing next to me. you as an analyst have modeled projections for apple watches for june. >> roughly 2 million out of the gate presales. the original we saw was 400k. we really view this -- its first step was a success. the key issue is longer term. where can this be two, three years out? two years out, it will be eight to 10% of revenue. in terms of numbers, it's three things. the watch in terms of presales. it's that iphone number. i think 60 million. that would be sort of what i would view the number that the street is looking at in terms of upper.
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>> i've seen 70 million. guy, what are you looking for, for the iphone? >> i will defer to my analyst expert colleague. >> okay. he's saying 60. >> sixty. then the capital allocations will be significant. street wants to see 150 buyback and up dividend to potentially 2%. a lot of great things going on at apple. i view this as the third inning of this story playing out. you had guests talking about how expensive it is. you x out the cash, it's trading at nine times next year's numbers. liz: i'm glad you brought up the cash. 178 billion worth. they did put some to work. giving it back to shareholders after carl icahnage stated carlicahn agita. do you think apple should have said, too bad, and anybody else who is trying to activist their way into the company? >> well, that is a tough
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question. you know, when you have such a pile of cash, it changes all the rules. an angel investor like me, what to do with that amount of money, it's so beyond my scope. i think you have to bet on jim's judgment. so far, what can you say? he's betting at thousands. >> the services aspects of this, dan, before we go. they have the itunes world. apple pay. at what point do you see those become meaningful additions to revenue? >> that's the golden egg. add an incremental $2 eps over the next two years. that's the next leg of this stool. i think we'll see good news from apple tonight. if tim cook is flying in a plane, i'll be getting on it. >> good to talk to you, guy. guy kawasaki angel investor. we need to quickly dip back into baltimore. police is responding
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with tear gas. we're keeping an eye on protests there. protesters are throwing bottles and rocks in baltimore at police officers. and police have now just responded with tear gas. we're watching the situation very closely in a suburb right there in baltimore near a pretty significantly sized mall. big story for the markets. moments to go before we find out how much money the apple machine cranked out. what plans they have for the dough. apple earnings straight ahead. don't go away. ♪ new york state is reinventing by leading the way on tax cuts. we cut the rates on personal income taxes. we enacted the lowest corporate tax rate since 1968.
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liz: as we wait on apple numbers, david, we have got a lot of breaking news. david: we do, we do. there is stuff going on in baltimore. have you seen what is happening with tesla? we'll talk about that with nicole coming up. liz: let's grow to nicole. she is at the new york stock exchange. apple numbers minutes from now. that is the big chatter, needless to say. >> liz and dave, people are
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watching it. up 1.7%. [closing bell ringing] we'll watch for dividends and buybacks and iphone sales. david: huge jump in tesla today based on analysis what will happen in the future. liz: you try to count that one out it keeps bouncing back. the bells ring on wall street. let's look how stocks finished up. the red on the screen is a bit of a surprise. earlier the dow was up more than 90 points. there was green across the screen. after a couple record numbers from the s&p and nasdaq, time to see a bit after profit-taking. david: one of the things that put it in the red, i was on the varney watch, there were suspicion of negative numbers in the gdp in the first quarter. that weighed on all the indices. liz: "after the bell" starts right now. david: and before we get to today's market action we're of course waiting for appl

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