tv After the Bell FOX Business July 28, 2015 4:00pm-5:01pm EDT
head into the close. the dow up nearly 200 points. melissa: the green spreading to commodities. oil managing to turn it around ending the day up better than 1%. [closing bell ringing]. still unable to close above 48 bucks a barrel. >> buckle up. bottom line, it will be a very busy hour as the closing bell sounds on wall street. there they go. we start out with the very latest out of the nfl. commissioner roger goodell upholding a four-game suspension of new england patriots quarterback tom brady. in announcing the decision goodell cited new information on or shortly before march 6, brady directed that the cell phone he used for the prior four months be destroyed. now in this statement goodell said, brady, quote, went beyond a mere failure to cooperate in the investigation. he support ad finding that he sought to hide evidence of his own participation in the scheme. critics argue that the commission hears become the judge, jury and executioner for the nfl and the four-game
suspension is too severe considering dallas defensive end breath hardy will serve the same four-game suspension for his role in a domestic violence case. nfl players association and brady are widely expected to challenge this decision in federal court which if he get as injunction would allow him to play while the case makes its way through the courts. melissa: we're waiting for results from twitter, to see if the company bounces back after catastrophic april earnings report that eroded 25% of the company's market cap overnight. which have gary kaltbaum, kaltbaum capital management and fox news contributor and kelvin kelly, recon partners. thanks to you both for joining us. gary, what are you expecting here? >> the good news the stock is weighed down but it is bad news because it tells you what the market expects of it. they will probably meet
estimates or beat by a penny as the usually does. for a stock, throw a ball in the area. will be about the reaction if it is good one it will go back on my screens. it has been off my screens for the last 90 days. melissa: kevin, there is a little bit of a bounce-back in this session anticipating earnings today. does that meet it goes down if they meet expectations? >> it is hard to tell. it swings in such a wide range. they can go up 25% or down 20%. it has been in there but on average they have gone up 18% off of earnings but this focus will be on the corporate overhang. we want to start hearing what they do. project lightning is rolling out. of the costello is in charge. dorsey is back. they have a lot of strong things in the pipeline. they had a deal with doubleclick. we'll see how that comes through. they acquired an email marketing platform. we want to see results there. we want growth of users anticipation between two million and eight million. anything above that we think could really move the stock
forward. we want to hear what they do with interim ceo. are they placing their strategy and partnerships guy or going to keep -- melissa: we want to pause right there for a second. because we have earnings out of gilead. lori rothman on the floor of new york stock exchange. lori. >> hi, there, melissa, it is a beat. looking 3.195 non-gaap earnings. revenue 8.24 billion versus estimate of 7.61 billion. this is company famous in bigs earnings drivers and sales of hepatitis-c drugs. first bulletin, $1.29 billion worth of sales that treats hepc. we'll go through the numbers to make sense of it. after hours the shares are not unsurprising higher in the after-market. back to you. >> thank you, lori. let's bring gary in on gilead. gilead up 18% year-to-date and gaining nicely in after-hours
trading, gary. do you like gill idea, do you like the sector -- gilead? >> it is still the strongest sector in the market. with some sectors croaking the last few months it is amazing. gilead, the stock is up six-fold in three years. the numbers you're calling that is a big beat and big number, could get the stock higher going forward. they really beat pretty. >> kevin, to say we've seen a lot of m&a in this sector not doing it justice. gilead has not been a part of that would you like to see them continue to grow and acquire? >> not right now. they're trading at great pe level. it is about 11 times forward. we just saw them crush numbers. they're paying out shareholders with a dividend, unlike other biotechs. they can sit around, be patient. use their stock or cash to go acquire. but they don't need to do that right now. they have 90% gross margins. we don't want them to be forced into anything. we want them to stay the course.
the drug is our top name hepatitis-c drugs. they're doing well. we want them to stay the course. they're like the apple of biotechs. >> but, gary are they too reliant on the help-c drugs? -- hep-c drugs. >> i never want to see a company getting a lot from one or two or three different drugs. you want them to be diversified. that is why you're seeing so many mergers and pickups. we're seeing companies with no sales but things in the funnel being bought out. i expect more of that, not less. i think gilead will be a part of that playing field. melissa: guys. i want to turn you back to twitter because we are still awaiting those numbers and it seems like for the company the key thing we need to hear is new strategy for the company before they squander what they built so far. gary, do you agree with that? >> yes. here's the big thing with twitter right now. it trades 200 times earnings because they just don't make a lot of money off of their revenues at this point in time.
they have to find a way to become somewhat facebookish. facebook learned how to leverage their business, get big numbers and earnings out of every sale. melissa: we're hearing earnings, seven cents a share. that is a beat. we're looking 7 cents a share right now on twitter. that is the first number to come across. we had been expecting 4 cents. kevin what do you think of that? >> they have beat every quarter since they have gone public. that is not what is driving the stock. that is the interesting part. but what people need to focus on is that they're growing their revenues and what's nice about twitter is that they have all of this in the pipeline. they actually have gid analytics that a lot of people like. social media ad spend is going to be a big driver for all of the stocks, whether it is facebook, whether it is google. this is an ecosystem other companies build around. so we don't think twitter is going to, you know go down,
essentially because it is just like facebook right when they went public. they didn't have a good mobile platform. they didn't know where the growth was. they brought in sheryl sandberg and they turned the ship around and they are off to races this is redux, as facebook was when they went public. melissa: gary, do you agree with that. >> 100%. i will add one other word into it, certainty. the company needs to get some certainty into it. we know somebody is now running the company. we don't know if he will run it for a long time. melissa: lori rothman on floor of new york stock exchange with more details on earnings. lori, go ahead. >> at first blush looks okay for twitter. 7 cents a share versus 4 cents. revenue 580 million versus 481. you see numbers on your screen. twitter numbers were way up ahead of the call this afternoon. looks like initial reaction is satisfactory. waiting to see a number. okay, it is being bid up.
people are satisfied here. we're waiting to hear if i newsment on ris and follow-up q&a on periscope. this is one of twitter's products for video streaming. we'll see information about ceo and user engagement and growth. we have quote already in the earnings call from one. executives. q2 growth suggests monetizaton but we're not satisfied with our growth in audience. average monthly users we'll break it down. back to you. melissa: let's kick it back to the panel. revenue is 052 million. still a beat. -- 502 million. we're seeing the stock bid up after hours in the trade. kevin, what do you think of the revenue number, 502 million. >> that is a great number. they have the ceo noto came in from goldman sachs. he is focusing on balance sheet and managing this company and i has done a job that has been
very phenomenal and is shareholder friendly. the market was anticipating a basically a 13% move off these numbers and the bar was so low this surprise is really going to help. we could see it go up even further in the after-hours, even going into tomorrow morning. >> gary, what do you think? already up 6% after-hours. it's a good number. it has been around nine hours, hard to imagine but twitter has been around nine years so people were losing patience with it so is this encouraging? >> i think it's a start. the one thing i do like about twitter is anthony noto, an ex-goldman guy, really knows his stuff. i think he can do a good job with it. i was saying something about certainty. wall street likes certainty, not uncertainty. they have to figure out who is running the show. looks like the stock put in for a low only because it was way down already. it is not a leadership stock by any stretch of the imagination. melissa: building on that point, you were saying just that, that they need certainty, that is
something they're very far from in the stock. they have interim ceo going back to one of the founders -- we don't have a lot of color who will run the company long term and also what the strategy is. at the same time, you hear more and more reports of users disengaging. more and more bots on twitter. seems like we're far getting any certainty on this, no? >> well, that is the main point. where is twitter going to be in a year or two? where exactly do they want to go? they are losing people. the amount of tweets has been less but still the place to go, the place that is most talked about. now the big thing is, how much will they leverage. just because they beat a 4-cent number at 7 cents that is not a huge dollar number far a difference but definitely helping the stock only because it was way down. again there are much better in the space. facebook much stronger place to be. >> quickly, kevin, always rumors of twitter being bought up, facebook, google.
would it make sense of some of the really big guys to come in and pick up twitter? >> i'm actually thinking in the opposite direction. we don't know what is up twitter's sleeve. they may be on the acquisition sleeve as they have been in the past. who knows, maybe they go after snapchat that plays into new project lightning that focuses on moments and news events. i see them going in the opposite direction. melissa: given that, kevin what is first question on the call? >> my first question is when will they come out with lightning and not as noisy and bring in more users. melissa: we're getting warmed up. busiest week so far this quarter. it is not over yet. >> not by a long way. a different feeling for tom brady, the quarterback finding himself on the losing side but a new battle is just beginning. melissa: a funny thing happened on the way to the white house. a new report reveals john -- jon
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melissa: twitter shares feigning in after-hours trading after surprise beat on the top and bottom line. twitter is saying it is seeing good progress monetizing the service but it is not satisfied with its growth. interesting to note that its quarterly ad revenue sup 63% from last year to 452 million. earnings, sorry, ashley, over to you. ashley: that's all right, melissa there is earnings alert. yelp with second quarter results. gerri willis with these numbers. >> disappointing earnings numbers for yelp. they actually lost two cents a share. revenue coming in at 133.9 million. that is better than estimates of 133.48 million. this is crowd source reviews for restaurants and other services. big miss for yelp. ashley: down 14% in after-hours
trading. gerri willis, thank you very much. melissa: no stopping him yet. donald trump taking two to one lead in new hampshire, with 24% of the vote according to a poll from monmouth university. monica crowley, fox news contributor, dan hen anyonefer from "wall street journal" and matt welch from ws -- "reason" magazine. is this surprising. >> made comments about john mccain the conventional wisdom that his results would crash. you know the famous catchphrase you are you're fired!? that is the sub tex of everything he is saying. whether you love him or hate him, agree with him or other issues, subtext he is saying to establishment or career politicians you're fired!. i don't know if he will end up being the nominee. i don't know if he will burn out or flame out or implode, or go all the way i have no idea. what he is tapping into is
something really important that the other candidates should be paying very close attention to. melissa: dan, taking this huge lead over other republicans. when you put him head-to-head with hillary clinton doesn't look like he can beat her. looking at poll from july 22nd through the 25th showing hillary clinton at 56% and donald trump at 40%. this was cnn poll of registered voters. >> yeah. it is a problem for him. one thinks of ross perot of 1992. perot ultimately got eight teen .9% of the vote. i think there is probably a ceiling on donald trump's vote. monica said he tapped into something real. i call it economic anxiety. look, in the may "fox news poll," 60% of the people think we're still in recession. that is astonishing. new hampshire unemployment rate, 3.3%. if you add in discourage workers, part-time workers, marginally employed workers the unemployment rate is over 9%. and i think there is a lot of
people who just feel for six years this country has not been going in the right direction for them. he has done a better job of anyone than surfacing those anxieties. >> matt what is your take. >> 60% of the republicans have very unfavorable views towards donald trump. there is a ceiling how much he can go, even on the republican side with the nomination right now. i think what we've seen after mccain's comments he can literally say any crazy thing he wants to he will not suffer for it because is anti-establishment and anti-media candidate. melissa: the white house taking jon stewart very seriously. "the daily show" host secretly meeting with president obama in at least two occasions. this is according to a new report from "politico." matt, start with you on this one. i mean it is one of those things where cause he is supposed to be entertain tenant and not news he can do things without is seemingly over the line but has influence of somebody in news. >> he always played it both ways.
i'm a come needian, don't take it seriously. this shows something on obama side and stewart side. on obama side you're going to be with jon stewart. you're not dumb. melissa: very powerful. >> young people voted for obama in historic levels. jon stewart is ticket to that. political comedy from the left has not been very funny from the last several years. it really hasn't. when you're anti-authoritarian, anti-people in power you get to be funny. what happens when your team gets in? this is endemic on this. why jon stewart hasn't -- >> recommendation, jon stewart run for democratic nomination for presidency. the day after he got in there he would be tied with hillary clinton, for the same reason donald trump is doing so well. he is a famous celebrity. young people love him. bernie sanders would fall by the wayside and beat jon stewart. >> he is probably right about that. hillary clinton is worried about bernie but should be more worried about jon stewart. he has enormous influence.
in terms of millenial reach and so on. barack obama would be really stupid not to have reached out to him. and frankly if you are hillary clinton you should be reaching out to the next generation of liberal comedians. shows a huge gaping hole in conservative comedy. melissa: shows a huge gaping hole in the next crowd of people. you can see jon stewart cozying up to president obama, hard to picture him having that relationship with anyone on either side going forward. there isn't a young, exciting candidate. am i wrong. >> on the republican side? melissa: on either side. i can't see jon stewart and hillary clinton hanging out? >> i disagree on republican side. there are people with a pulse. rand paul done decently well. marco rubio does well. >> ted cruz has been on various comedy programs, done very well too. melissa: that was fun. thanks, guys. ash, over to you. ashley: thank you, melissa. mr. kerry goes to washington. the secretary of state facing off with lawmakers over the iran deal and sounds like his patience is running a little thin. we'll let you hear for your
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and you could save up to $509. call liberty mutual for a free quote today at see car insurance in a whole new light. liberty mutual insurance. ashley: busy hour for earnings. lori rothman on the floor of new york stock exchange. with all the numbers her hair is not sticking straight up. that is a good sign. >> earningspalooza. twitter beat on top and bottom line. revenue 502 million versus 481.28 million. the key thing for twitter is that those ad sales improved and even though management came out saying we need to improve, at least we're making steady improvement and investors like it after hours. shares are 5% higher. gilead sciences their main drug
is a drug to treat help sights c. this is $3.15 a share versus $2.71 a share on. the street was only looking for $7.61 billion. so their hepatitis-c drugs again continuing to drive sales there. a lot of concern, a lot of -- see a deal that gilead may do but so far nothing on that. that is the expectation. moving along to the oil industry. anadarko ahead of earnings report, anadarko hit new high. 12 cents a share is the earnings, versus expected loss of 51 cents a share on anadarko. so that is pretty good. revenue, top line a little soft. missed by a few points. 2.64 billion versus 2.66 billion which was the estimate. all right, yelp, i can give you yelp. 12 cents a share versus 1 cent estimate. 1.339 million is the revenue. 133.48. so a little better there.
you see shares of yelp are a little bit soft. ad sales improved but clearly not as much as folks were hoping for. that wraps it up. wall street zeroing on tech companies, they need to monetize. that is the challenge. seems to be working. want to look at guidance. looks like twitter did reinforce its 2015 guidance and i think that is giving some ease to investors concern about the strategy which was, we were all sort of prepared for. listen to the strategy thing. streamline the strategy to continue to monetize. back to you. ashley: very good, lori, sit down, have a glass of water. >> something stronger than that, ashley. melissa: there you go. a few other stories on our radar right now. new york prison worker joyce mitchell pleading guilty to helping inmates david sweat and richard matt escape. the prison seamstress accused of smuggling hacksaw blades in frozen hamburger meat agreed to a plea deal in court today. she faces up to seven years in
prison for her role. meanwhile the search is expanding for the two teenagers who went missing off the coast of florida. the coast guard is sending helicopters off the georgia coastline in hopes of finding two boys who have been businessing minutes friday. danger will robinson. elon musk and monk hundreds of scientists urging a ban on military robots. in an open letter researchers are warning that military artificial intelligence arms race could develop soon if preventative measures are not taken. that's disturbing. ashley. ashley: it is. earnings surprise for twitter on the upside. what does this mean for company earnings forward? a school dropping mandatory admissions test, not when i was around unfortunately, next. why pause to take a pill? or stop to find a bathroom? cialis for daily use is approved to treat both erectile dysfunction and the urinary symptoms of bph,
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problem for twitter? >> twitter is good system. if you're part of the system and being for news and live events f you're a casual user and come across the service and hard to figure out what to do, who to follow or get information. that would do a lot to help their revenue game. ashley: gary the company also saying that they saw a 53% rise in what they call ad engagements. that must being -- >> for me though, i don't usually talk mergers and acquisitions and buyouts. if there is any one company out there, that has the potential to be bought it is this one. i think they have enough people on there. i think it would be a great buy for some other companies. i don't think they will be around next year. they will be swallowedded up by somebody.
ashley: they're announcing as results they're being released. management turmoil and lack of ceo, how much does that hurt? >> it definitely hurts. it is overhang on the stock. people want earnings direction. people want direction, right, that is the biggest thing. getting back to issue of user engagement, people are using these on their mobile devices. if you go back to the women's soccer and championship games. people look at their phone to engage. that is where we think the product growth will go. they will surround the moments. people can start watching on their phone during the commercial and get video. that is where advertisers want to put their money. ashley: christina, we're talking about lightning project. how important is that? is that a game changer? how important is it to twitter? >> depends on the execution. twitter has battled with idea how to gain new users and how to bring people into the platform. lightning is supposed to do that. having a saying, putting content
around these live moments as they're happening but all depends on excuse because as i said, twitter works really well if you know the system but it is not a great platform if you're not already part of it. ashley: gary, you know, what the social media, the big players in this arena, they manage to create this ecosystem. has twitter really done that? or is there a lot of room to grow. >> look for me, i love it. i can put on all these news people that i want to follow and get things sent to me, great. but you know, i use the word clunky. they have got to get rid of the clunkiness when you are first starting out. if they don't do that, they're going to end up hitting a brick wall somewhere in time. got to be extremely easy to get through it. right now it is just not happening. ashley: kevin, finally to you, twitter also licenses its data which allows people to look in to look at past history and trends. could that turn people off and could that hurt the user base?
>> no, if anything i think it will help the user baseballs it will drive and let them know what their engagement is like and what they should keep posting about and what their value and worth is to the twitter ecosystem whether you're dunkin' donuts posting up something and they want to know the analytics that is really helpful and i think that is what is really going to keep a bid underneath the stock because people do want this data, analytics but that is 2016 story, not a 2015 story. ashley: very good. gary, kevin, christina, thanks for joining us to talk about twitter. we appreciate it. melissa: secretary of state john kerry getting grilled on capitol hill. his attempt to sell the iran deal to skeptical senate is coming up. ashley: plus the takeoff to hillary clinton's global warming push and it might not be the fuel she was actually looking for. it's a private jet. that's next. why should over two hundred years of citi history matter to you? well, because it tells us something powerful about progress:
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melissa: leafing on a jet plane. hillary clinton boarding a private plane just hours after promoting her climate change agenda. look at this video. seriously? the presidential contender calling it quote, one of the most urgent threats of our time. fun fact, the clinton's aircraft burns 347 gallons of fuel per hour. and it costs more than $5,000 per hour to rent it and it's lovely. all that china is recyclable, ashley. ashley: doesn't seem very green. melissa: i know. ashley: the state department is set to release 5000 pages documents to the house benghazi later today. those documents not expected to deal with the emails sent by then secretary of state hillary clinton. meanwhile the presidential contender herself returning to the new hampshire for the third time this month. fox business's peter barnes is in d.c. with the latest. peter. >> ashley, clinton did not get any questions on the jet or her email or benghazi problems in
new hampshire today but she did make some news on the keystone xl pipeline. opposed by major interest group within the democratic party, environmentalists who tend to be very active in party primaries. clinton said she would not comment on the issue while the administration cons its review of the project. >> it is not appropriate nor fair for me to prejudge in a public arena what secretary kerry and president obama eventually have to decide. and therefore i will not do it and i am sorry if people want me to. i've been very clear. i will not express an opinion until they have made a decision. >> so clinton kind of playing it safe on that issue, giving all the environmentalists that she may rely on for votes in the new hampshire primary and others. ashley. ashley: great no answer. peter barnes in d.c. thanks.
>> you bet. melissa: secretary of state john kerry on capitol hill today to help sell congress on the iranian nuclear deal and a the times sound pretty ex-passer is rated. >> do you care more about this deal, u.n.'s approval or american sovereignty and approval of the american people through their duly elected representatives? , mr. secretary. >> congressman, i don't need any lessons from you who i represent. i have represent and fought for our country since i was out of college. >> god bless you for your service. >> don't give me any lessons about that, okay? melissa: secretary kerry also saying that talks of a better deal would be a fantasy. yeah for a lot of reasons. here to weigh in on this, retired navy captain chuck nash, fox news military analyst. christian white man, and matt welch "reason" magazine editor-in-chief. captain nash, let me start with you. talks of a better deal are a
fantasy. why do you think that is? >> because what they're trying to do is they're trying to sell this thing knowing that the more you look into it, it is like obamacare and that is the worse it gets the more you understand the deal. you take that, layer on top of it legislative malpractice with the corker bill which stands the constitution on its head, you have a real disaster that has put the sovereignty of the united states under that of the united nations there. is no way to sell that without just resorting to bombast. melissa: christians the more details comes out the worse it sounds. one was side deal struck in addition to the original treaty, trying to let the international atomic energy agency get a baseline maybe where they are in the developments so we would have something to compare it to since which have no real information. the other is the fact iranians if we get suspicious get to collect their own samples to submit for testing. i mean just gets more outrageous
the more you read it. >> right. well, john kerry is very much in his element. loves to get on the high horse and feign injury and moralize and try to lose people in the details which is what really the administration is trying to do, get into the weeds on this so you lose track of how many red lines they have crossed, how many concessions they have made. not unordinary to have the agreement between the iaea and offending state supposedly they come in for the cold. we've done the iaea a disservice. we made the rest of the agreement complete and up to the iaea to finalize the agreement with iran but all the leverage is off. there is no way that tehran is going to give anything to would-be inspectors. melissa: matt welch, as we look what is it going on in washington, it is all sort of irrelevant and they did the end-run, went to the u.n. and u.n. agreed they would go ahead and drop sanctions basically. so does it even matter any longer what happens in congress? >> if republicans and democrats were skeptical of the deal,
wanted to throw a monkey wrench and deeply and truly they could, they won't. i don't think. they lack the self-occurrage to make that happen because they don't want to be portrayed as being in the way after president exercising his prerogative on foreign policy. a lot of people using this to make politics out of, as they have the last couple days but i don't think they will see the congress really getting in the way of it. melissa: captain nash, what i worry about we've armed iranians with loaded wallet. while we walked a way. we don't know what happens with the nuclear program but meanwhile think get all the money frozen and commerce rand trade and makes them more powerful as a state sponsor of terror with all kind of cash. am i wrong? >> no, you're not wrong. that is part of the other problem. that is the shorter-term problem whether they don't cheat on this or not. they have never kept an international agreement. why know why this would be the first. but $150 billion in their economy, scale that to the u.s., talking several trillion dollars. they can do a lot of damage.
they are still today, as they were yesterday, the largest state sponsor of terrorism. they have been active in the region and they have been active throughout the world through the quds force. so none of that is going to change. we've just flushed them up with money. melissa: absolutely. gentlemen, thanks to all three of you. ashley. ashley: thank you. the test is history. it is not a history test but literally history. george washington university is dropping s.a.t. and act requirements for most freshmen admission. school occur work and grades will remain the most important factors in the college's review process along with student's. writing skills, extracurricular activities and recommendations. gwu joined hundreds of other colleges ditching standardized test scores american and wake forest universities. deirdre bolton, i was not a very good tester. i would panic on the big day of the test. >> these universities would have missed out having you with them but that is exactly the point.
someone's future can not be determined by a test that doesn't necessarily reflect your general knowledge or your problem solving aptitude and makes you on a good day pretty anxious. the larger point, you already hit on this, ashley, especially from gw, listen, we as an organization are the if -- getting hurt, keeping a lot of kids who would do great here from our school. that is why we would de-emphasize it. ashley: seems like an idea gaining a lot of momentum. >> certainly is. there are 180 schools who said, if you take it, we'll take a look at it. of course as we know, peter thiel, running that peter thiel foundation paying kids not to go to school saying you will have a better time, apprenticeship with us. ashley: very interesting, deirdre bolton. thank you as always. we'll see you at top of the hour for "risk & reward." we'll look forward to it. the million dollar discovery. the hidden treasure found off the coast of florida. melissa: plus tom brady
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call liberty mutual for a free quote today at see car insurance in a whole new light. liberty mutual insurance. ashley: welcome back, everybody. hits keep on coming for yelp. shares down 17% after the quarterly results we're learning chairman of the board, max levchin is stepping down to say, pursue other interests. coming from the conference call happening right now. left chin helped launch yelp in 2004 and founded paypal back in 1998. as you can see the after-hours trading is down more than 17%. melissa. melissa: whether on wall street or main street here who is making money and history today. the arizona cardinals are hiring her for a coaching position. she becomes the first female coach in nfl history.
she played rugby at boston college. a masters in sports psychology and phd in psychology. good for her, right? florida treasure hunters hit the jackpot. a family that discovered sunken treasure new the site of a 1715 sunken spanish fleet. announced gold they found valued at a million dollars. i like that. danger of losing money, coin nano brian. filed lawsuit against the laid night comedian and cbs accusing his writing team of stealing his jokes. that happens to me all the time. he claims they were copied from his personal blog and twitter account before making it into conan's late night monologue. jon stewart stole from me. that is the not same thing. ashley: i believe it. melissa. four-game suspension uphold for tom brady. roger goodell rejecting the
appeal in the alleged "deflategate" case. alleging that he had his phone destroyed just before he met with investigators. let's bring in our panel for reaction. j.t. "the brick" from fox sports radio and dan kaplan, sports business journal and sports attorney, jonathan romano. j.t., first your reaction to this you're probably not that surprised but certainly, if mr. brady destroying evidence doesn't speak well of him, does it? >> this is a dark day for tom brady. this is the worst-case scenario. his lack of cooperation initially with the wells report, the way he laughed off this on sports talk radio the day after the afc championship and the way i believe he and his team tried to buy this away and get a penalty instead of a four-game, two-game or one-game suspension. this is legacy play because it false under integrity. not as bad as gambling on your own team such as pete rose but integrity issue. it will take a lot to win this in federal court.
ashley: talking to which, dan, obviously the nfl believes they have a very good case. they though this will go to an appeal. so, you know, that said, is the four-game suspension commensurate with the crime? >> clearly the nfl has a strong case with the destruction of the cell phone. that was not out in the public domain. many of us including myself felt brady had a strong case to make for injunction in terms of the process, in terms of the crime not fitting the punishment but if indeed he did destroy his cell phone, that does look like he was trying to obstruct the investigation. ashley: dominic, from a law point of view, i would imagine he would claim there was a bit of a rigged jury because roger goodell basically oversaw this and ruled on the appeal. is that the basis of what the appeal will be? >> well, yes, exactly. it is going to be that and also the issue what else is on that cell phone. there is personal information potentially. in order to give it up, potentially he is exposing himself to other embarrassing information even though the nfl
will make it confidential or say they are these things have a tendency to leak. there might have been a reason, justification for destroying that phone has nothing to do with "deflategate." ashley: got it. j.t., has the nfl handled this correctly, do you think. >> no, they haven't handled anything perfectly for much more service issues. ashley: brought outside counsel right away, that was a good move, right, an outside investigator? >> i think nfl is dotting their is, crossing their ts because they knew tom brady will eventually go to federal court. brady can not lose one game. it will be with him for rest of his life. this is lifestyle issue. not take super bowl wins or hall of fame, but for rest of his life, farms come up to him all over the globe. some call him a cheater and patriots back to "spygate" and deflate gate will do whatever it takes to win football games. this nails the patriots big time
for their behavior over decade. ashley: he is poster boy of the nfl. good-looking, amazing looking wife, he is the a whole package. how much does this hurt? >> it hurts a lot. the commissioner almost but called him a liar. found the testimony uncredible and didn't believe it. calling poster boy of nfl is a liar. that is just terrible. ashley: won't be available to play until october 11th. >> unless he gets injunction. ashley: colts on the 18th. long time to wait. melissa. melissa: major moves in after-hours trading following big results on wall street. the numbers you need to know coming up next.
in these weeks, really last year. leading up to today's earnings report. first quarter was kind after bust. huge disappointment for twitter, but rebounded thanks to ad sales. twitter 6% rise they're reporting in cost per ad engagement. means the ad strategy is working and you can see the numbers there, 7 cents versus the 4-cent estimate on $205 million in revenue. talk about how facebook now, facebook looking for $3.98 billion in revenue. how is that for comparison size and scope of these two social media companies. facebook shares up 1% after-hours. likely enjoying some of the benefit from twitter's positive report. so we'll hear from facebook this time tomorrow ortly after t close, looking for earnings per share of 47 cents, on 3.98 billion. just shy of $4 billion. facebook shares up 28% year-to-date. cantor fitzgerald looking for 4.6% increase in monthly active
users. there is the sum. i will sent i had back to you. ashley: lori, thank you very much. another interesting day of earnings tomorrow. that's it for us. deirdre bolton, guess what, she is here to take you through the next hour of fox business with "risk & reward." deirdre: thank you so much, ashley and melissa. covering twitter earnings that are out. the stock is up post-market and analysis, perspective from a shareholder coming your way. yelp stock down of a hours including a change at the top. we'll bring you the news. no change for tom brady. his suspension is upheld. co-founder of fantasy bitting site, draftkings will join us. he is a big pats fan. that seem is a partner in his business. "risk & reward" starts right now.