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tv   After the Bell  FOX Business  May 4, 2016 4:00pm-5:01pm EDT

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century fox. david asman, melissa francis hear for "after the bell." [closing bell rings. melissa: dow ending well off session lows. i'm melissa francis. david: i'm david asman. this is "after the bell." we'll take you back to the markets. first this is what else is happening this hour. john kasich is expected to announce the suspension of his campaign. kasich canceling events today leading up to a big announcement taking place in just about an hour. of course we'll cover that live. and while the race goes on for the democrats as they head to condition tuck and west virgini. coal country where coal miners are still reeling from comments hillary clinton made about putting them all out of work. buckle up tesla and 21st century fox, the parent company of this network, among big names reporting quarterly results. we'll give you the numbers when
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they come out, melissa. melissa: stocks ending off session lows. adam shapiro at new york stock exchange. trader phil flynn standing by at the cme. let's start with adam. >> dow settling below 100 point loss. we'll see if we hold it in next minute or two. s&p 500, essentially positive for the year. dow is positive for the year. nasdaq by the way is down for the year almost 6%. talk about mcdonald's. mcdonald's had really good day. if you like garlic, just don't kiss anyone after testing the new garlic fries. they're testing garlic fries in san francisco. americans love french fries. mcdonald's, they love the stock. it hit another all-time high. up to $143 at one point. in august of 2015, this stock hit 52-week low, 87.50. mcdonald's turned it around. up 8.6% year-to-date. melissa?
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melissa: thanks so much for that, adam. david: it was crazy day for oil. it was way up and a bit down. phil flynn, price futures group joins me now. phil, looking at a market watch piece, oil prices have nowhere left to go but down. do you agree? >> i totally disagree, david, and let me tell you why. a word i call production destruction. we're seeing biggest pullback in energy investment in history of oil. at some point it will take its toll. if you want to be bearish dave, you have to be concerned about global economic growth. you're looking for a major slowdown but the way i see things, despite fears of slowing economic growth, we saw some of that in oil price today, the actual hard numbers don't really line up with that. gasoline demand in the u.s., near record high. distillate demand, really, really strong. we're seeing production fall in the u.s. eight weeks in a row.
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u.s. production fell, it fell by over 100,000 barrels a day this week. that to me shows that supplies are going to tighten in the very near future. david: interesting. taking on "market watch." our man phil flynn. thank you very much. phil. melissa: breaking news. fox news confirming that john kasich will suspend his presidential campaign. the ohio governor is set to make a formal statement? the next hour. the statement we'll bring it right to you when it happens. indiana primary is in the books for the democrats and bernie sanders shocked hillary clinton with an upset win. now focus shifts to kentucky and west virginia, two states economically devastated by the collapse of the coal industry. our own peters barnes joins us with the latest on that. peter? reporter: hey, melissa. bernie sanders is trying to build momentum from his unexpected win over clinton in indiana on tuesday night. he is campaigning in kentucky today, coal country, where
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hillary clinton just finished a two-day campaign swing. he is predicting victory there as well as in other upcoming primaries in west virginia and in oregon. now sanders, what i mean, sanders is not himself soft on coal. he has a big green energy plan that includes a carbon tax on fossil fuels but clinton has been dragged down in coal country by the obama administration's tough regulations of the industry which critics say amounts to a war on coal. and by her own comments on coal. as you recall back in march when promoting her 30 billion-dollar economic plan to help coal community, she said, quote, we're going to put a lot of coal miners and coal companies out of business. on her visit to kentucky, west virginia, southern ohio this week she was singing a different tune. >> here in ohio, a few weeks ago during the ohio primary sounded like i said something differently about coal miner jobs. to put it plainly i misspoke. one reason why i took this trip, to say that directly to the
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people who are affected. reporter: now as a percentage of state gdp, the coal industry is 3%, coal mining rather, is 3% for kentucky and 10% for west virginia. melissa? melissa: thank you so much for that, peter. ashley webster right now with breaking news. earnings on 20th century fox. >> we sure do, parent company of fox business network. earnings, 47 cents per share. exactly in line with the estimate. meanwhile revenue coming in at 7.23 billion, which is slightly better than the estimate. by the way cable revenues they were looking for 3.88 billion. it came in at 3.94 billion, so some higher numbers coming in. the estimates being beaten just slightly by 21st century fox. as you can see the stock moving slightly higher in after-hours
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trade. melissa: ashley, thank you for that. we'll drill down more details coming up. david: we will. cbs earnings came out and they were a lot higher. they had a super bowl, super bowl l as a matter of fact, they got huge revenues. 20 first century fox, of course the parent company of fox business, had revenues because of political ads. political ads flowing in not only fox news channel but affiliates, company-owned affiliates. when the new york primary hit i saw some affiliate people here were saying a lot of cash coming in. melissa: always good in political year especially year like this where people have lot of money to spend, we're moving on. continue with the coal mining story again and play sound from what happened here yesterday. play the tape. >> i'm hurting now. there is a lot of families that are hurting and going without right now. we're not worried about down the road. we're worried about what we're
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going to do for our families now. >> the miners in west virginia and pennsylvania so great to me last week, ohio and all over, they're going to start to work again, believe me. you're going to be proud again to be miners. [applause] david: first we had coal miner bo copley on our show yesterday. then donald trump appealing last night to folks in the coal industry who are hurting bad but can trump turn these coal miners lives around and bring a dying industry back to america? here now, charles payne, host of making money on fox business. charles, thanks for coming in. let's be specific. look at these numbers, obama's war on coal, he has done it, and waged war through the epa and other actions he has taken. 29,700 coal jobs killed, 422 coal mines closed as a result of his actions. can trump revive the coal industry after that? >> it is going to be real tough, david, and i'll tell you why. there has been a big coal war
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around the world. there is a slump. even china laid off 1.3 million coal workers. apply 15 billion to try to retrain them to get into other industries. here is the problem though. you hit on it. there was natural trajectory for coal and transition to so-called solar or wind and those kind of things. it probably would have happened naturally over the next 20 years, 30 years, 25 years. instead president obama rammed it down the industries throats. david: yeah. >> it was epa, clean air act, ozone, materials, particles, fuel, every aspect. every single angle that president obama could he took. they can't retrofit the power plants the degree they needed to be. the fracking material made natural gas so inexpensive it is tied with coal for electricity. david: charles, i have to interrupt you because tesla earnings are out. speaking of one industry making
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waves, it uses a lot of coal to make energy for electric cars. tesla out with first quarter results. adam shapiro at new york stock exchange with details. how did it do? >> tesla shareholders are happy. loss was smaller than expected. street was expecting 58 cents. revenue came in at 1.6 billion. that stock in after-market is up anywhere from six to 7%. they expect to hit the 500,000 build number, that is models they will build, by 2018. model 3 deliveries, the new sedan, 35 grand, they took delivery they expect in 2017. melissa, they expect capital expenditures to be 50% higher as they move forward. if they build that 500,000 build model unit. david: put a fine point, these are not earnings but losses.
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the losses were not as bad as they thought it would be. melissa. melissa: but they keep getting larger as time. jonathan hoenig, capitalist pig hedge fund and you gary gastelu. what jumped out there? jonathan you look as the stock with unicorn, no matter how much money people lose they continue to be excited about it. what do you think about the numbers? >> they have been. that trend is turning. we see it turning after hours. even the after hours beat, numbers beat a lot of what expectations were. they haven't recouped losses today. tesla, you have to fairly value thing. wall street values it $620,000 per car sold. that is almost astro astronomical. you have to look at it as a pipe-dream. this is name like apple, another big cap classic tech people should probably avoid.
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melissa: go ahead, charles. >> i definitely wouldn't compare it to apple. one trade at valuation metrics extraordinarily low. whether you think they continue the miracle, apple, to your point, jonathan, i agree 1000%. i would not chase it in the after-market. if it goes to 223, you're looking 100 and is 50. three months ago the street was looking for gain of 10 cents. we're looking for loss of 58 cents and beat by a penny. i wouldn't celebrate this listen to the conference call. anybody buying this in the after-market might be a little nuts. melissa: gary, something people will listen to on the call, how fast they get the cars out. downward revision for q1 sales or the total year. you made the joke before that spacex may land on mars before you can easily buy a model 3, right? >> they sent a strong message, getting rid of heads of manufacturing and production. had a lot of issues meeting
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deadlines. putting out quality products. heard that from consumer reports. doors on model x are a big problem. seats in the model x. they need to clean that up before they think about building 500,000 cars a year, not easy to do for anyone yet alone a little startup building high-tech car. they will have to fix that in two years if they will do it in 2018. melissa: jonathan, another interesting thing about this stock it should be politically sensitive. they depend on $7500 of subsidies per vehicle. however much this industry is favored really drives sales and how much i would say profit except they're not making any but you know what i mean, right? >> exactly right. this is a company like a lot of green energy companies that really only exist there but for the grace of subsidies and incentives from the federal government. so a lot of analysis here has to be political. what will next administration policy subsidizing companies
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like tesla, in this type of arena. market doesn't even know what to make of tesla. in the last three months alone it has been down 50%. up 90%. trading at unbelievable estimates of future earnings, this is pipe-dream attached to a piece of paper. i would avoid. melissa: charles, try to top that. >> i agree with respect to being cautious on the stock. i played tesla a lot in last few years. i will go back to your comment though. think about this, melissa, average person that buys tesla is in top 10% of this nation. they're college educated. they live in places like california where they not only get federal subsidies but local subsidies. imagine subsidizing millionaires to buy cars while regular folks are buying overpriced used cars that take gasoline. melissa: gary, taking it to very serious place, we had bo copley on the show who was breaking
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down over losing his job in the coal industry because people like hillary clinton talking about clean energy out there. yet you have subsidies for this type of a car and by the way, my partner here pointed out the fact this is being powered by coal in large part because you're plugging into electricity, ironies abound with this one, gary. how do you sort it out? >> that is part of the success but already a problem for tesla. california is rolling back subsidies for high income buyers. once tesla sells 200,000 cars, that will lose subsidy. that is $7500 per car, makes it a lot less competitive. they are there in first place to get businesses kick-started. once other companies catch up they will lose subsidies unless there is big change, get renewed or expand the subsidy program. really depends what the next administration looks like. melissa: that's true. we would be remiss if they rolled out model 3, a month ago, 325,000 orders right out of the
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gate. with no plans to get car soon. no matter how much trash-talking people line up to buy vehicles. david. david: if there is republican president you wonder what happens. if you shop at whole foods you're pretty happy in particular, if you have the stock. they're adding to after-hours. adam shapiro on the floor of the stock exchange. good day for whole foods? >> it was, david. beat on earnings per share 44 cents. street was expecting 41 cents. revenue slightly below the what the street expected. revenue came in at 3.7 billion. couple things to pay attention to, same-store sales actually fell 3% but full 2016 fiscal year sales growth is expected to be up to 3%. david? david: all right. good after-hours. thank you, adam. appreciate it. melissa: lot of earnings there. david: indeed. melissa: claims more lives in america than respiratory disease, stroke and alzheimer's and totally preventable. results of a new report on the
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high cost of medical errors. david: john kasich is expected to announce suspension of his campaign within the hour, leaving donald trump the last candidate standing in the running for the gop nomination. we will take you live to columbus, ohio, when kasich takes the mic. melissa: one of trump's main selling points has been his self-funded campaign. how long can he keep that up in a national election? our panel weighs in. >> i think it is most likely i will because you're talking about a billion dollars or a billion 1/2 dollars. and -- >> you've got it. >> i do have it. all i have to do is sell a building. it's a fact. kind of like social media equals anti-social. hey guys, i want you to meet my fiancée, denise. hey. good to meet you dennis. when a moment turns romantic why pause to take a pill? or stop to find a bathroom? cialis for daily use is approved to treat
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melissa: 21st century fox, the parent of fox business, reporting a big rise in revenue in the third quarter.
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let's go back to ashley webster in the newsroom for more details on this one. what did you see? >> overall revenue figure, 7.32 billion, beat estimates. up 5% year-over-year. when you break it down looking at cable revenues, coming in 3.94 billion. that is beating the estimate. on the television side the revenue coming in at 1.3 billion. the estimate there was slightly under that. all the political season, ad revenue certainly helping. on film entertainment side, revenue was 2.23 billion. street was looking for 2.4 billion. cable and tv side, revenue exceeding expectations but on film side just slightly below. melissa: ashley, what you're saying cable is fantastic business? is that -- not to mention it is a good business, we might want to stay in it. >> growth business of all industries.
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melissa: now you have gone a step too far. >> sorry. melissa: david. david: we'll keep checking back to see how all the stocks do after-hours. the end of the stop trump movement for one anti-trump group. club for growth pac and club for growth action will do what we've always done best, fight hard to win congressional elections for true economic conservatives. will gop donors also focus their funds on congressional races as opposed to presidential race? here to weigh in phillip klein, "washington examiner" managing editor. great to see you. you're part of the never trump movement, fair to say, correct me if i'm wrong but what are your feelings what happened last night? >> i don't like to necessarily call myself part of the movement. i'm a journalist. i have conservative views and my views aren't consistent with donald trump and i -- david: but there is no way you would vote for donald trump? >> no.
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no way i would vote for donald trump. david: that makes you no way i vote for donald trump, movement of one in that regard. what do you think about last night about what happened? >> clearly voters spoken and republican voters want donald trump and that is the direction that the party has decided to go. you saw that reince priebus, the chairman of the rnc pretty immediately jumped on and called trump the presumptive nominee. with all of his rivals out, it clearly will be him and indiana solidified that. david: but what do you think about the country itself? you're stating obvious. the real question what do you think will happen in november and what has happened in the country they would vote for donald trump? >> i think what happens is there is clearly an anger at elite institutions that donald trump able to benefit from and he has people believing that he could come in there like a wrecking ball because he is a
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non-politician, is going to be able to shake things up and make all of these changes that they don't think that politicians can be able to make. david: right. >> i don't think that is going to translate into november because you're dealing with a different electorate than the one trump faced. david: the bottom line though that the never trump people, you may not be part of the movement but you would never vote for trump, in the republican party they don't think donald trump is conservative enough. he is either a liberal or too moderate a republican. a lot of people would say mitt romney was more liberal and a lot of things. on specific policy, like tax policy, for example donald trump definitely taken a more conservative stand in terms of lower tax rates than mitt romney ever did. i asked club for growth president david macintosh yesterday whether he could support trump on specific issues like tax policy. here's what he answered. >> look, if donald trump actually decided to really push for his tax plan, for example, which i think is a very food tax
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plan, yeah, i would help him do that i'm for issues and doing the right thing. david: club for growth which was terribly anti-trump, now saying maybe on some of the issues i could support trump. what do you say to that? >> i think it is very clear that view of trump is just beyond ideology. it also goes to his tone and the sense that he is not fit for office. that is more fundamental issue than mere idealogical differences. and also, if you're talking about if he becomes president, and he is doing things that you agree with, i think there's a distinction between saying that and supporting him, an issue and being skeptical that he would actually pursue those policies. david: right. the question is where the money is going and clearly club for growth thinks they can spend some of their money actually supporting individual projects, whether tax policy or whatever. phillip, thank you very much. phillip klein from the "washington examiner." thank you. >> thank you.
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david: melissa? melissa: new report exposing cost of government regulations. what you're paying uncle sam is not just pennies. plus things are looking up the a the golden arches. mcdonald's hitting a new milestone. we have whole foods earnings. they beat. ♪ ♪ ah, my poor mouth breather. : a breathe right nasal strip of course.
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plus depreciation. liberty mutual insurance. . melissa: all right, looks like weight watchers is popping right now. reports first quarter results. ashley has results from the newsroom. what can you tell us? >> reporter: interesting, shares of weight watchers were up 22% at one point. earnings per share, a loss of 17 cents, the estimate for a loss of 18 cents, so a beat. revenue coming in slightly short at 306.9 million. the estimate was for 308.9. two million under the estimate, but why is the stock moving higher? it's because the company is raising four year guidance,
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raising the guidance for 2016. investors liking that. this has been on a roll since oprah announced her stake last year. in the first quarter historically for weight watchers is the strongest one, everyone wants to commit to losing weight at the beginning of the year. the numbers are moving higher in after-hours because they're raising that four-year guidance. melissa: raising the guidance but a disappointment with oprah on board. this is an interesting one to watch. thank you very much. david: another look at where tesla is trading after-hours, shares up 5% after tesla reported better-than-expected per-share results, about in line with revenue expectations. the electric car company is forecasting 500,000 sales by 2018, and at least for the moment investors believe them. melissa: the crushing burden of federal regulations, a new report exposing just how much the government requirements are costing taxpayers and who's to blame?
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shannon breen is in d.c. with the latest. >> reporter: the authors from the libertarian think tank, the competitive enterprise institute say if you don't like paying taxes, you should be worried with federal regulations. they estimate the cost about all the corporate and individual taxes the irs is set to collect. the total estimate of the cost tops $1.88 trillion. when you break that down into real world costs on everything from the food you eat to the gas you put in vehicle, amounts to annual cost of $15,000 per household. >> you've got these unelected bureaucrats and agencies doing most of the law making in america, and doesn't stop there. there is all the regulatory dark matter. the guidance matter, the bulletins, the memoranda, all the ways the agencies are manipulating and telling companies what they need to do and working beyond the normal law making process.
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>> reporter: critics of the heavy regulatory burden are pointing the finger at capitol hill. lawmakers are happy to talk about the bills they fought to pass and pass the burden to unelected government employees and often wind up complaining about what they issue. in 2015, for instance, congress passed 114 laws. at the same time, government agencies issued 3410 rules for regulations, nearly 30 times the number of laws that got through congress. by law, by the way, the administration is supposed to do a cost/benefit analysis on any regulation expected to cost more than $100 million. and rarely do. there's no penalty for doing it. melissa? melissa: thank you so much for that report. wow. david: the u.s. navy s.e.a.l. killed by isis. what the pentagon is saying about his death and the fight that led to his death? melissa: donald trump self-funding campaign. will the billionaire fund rays in the general election?
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our panel is going to weigh in on that one coming up. >> we will make america great again. we will start winning again. you will be so proud of this country, very, very soon.
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. melissa: markets ending the day well off the lows, still in the red. the dow down just under 100 points to close the day, investors are loving mcdonald's shares, hitting another all-time high. this is the 15th record high
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this year. up 9.5% year to date. lots of earnings after the bell today as well, david? david: breaking political news, john kasich will suspend presidential campaign. the move coming after donald trump's victory in indiana. we're awaiting a formal statement from governor kasich. comments to you live. melissa: the self-funded republican nominee donald trump dirk out $46.3 million on campaign spending, millions less than former rivals, but far from the one billion dollars needed to run a general election. will trump accept outside funding going forward? >> it's mostly they will because you know, you're talking about a billion dollars or a billion and a half dollars. >> well, you got it. >> i do have it. all i have to do is sell a building, but you know. i think that probably -- i'm not look for myself, i'm looking for the party where,
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the party is going to receive a lot of money so the party can compete. melissa: here now is brad blakeman, former george w. bush senior adviser and sabrina schaefer of the independent women's forum. brad, he made an important point at the end, not just about fund-raising for himself, selling a builng doesn't help the downed candidates. >> he is the much to the ticket and has to worry about the house members, senate members, governors, assemblymen, down to mayors and county workers. donald trump has to have a two prong approach to fund-raising, raise it himself which means it can't come from him, got to come from other sources and do it for the party. he's got to hit the ground and personally appear, surrogates appear for him. believe me, he's got a lot of ground to make up, the hillary machine has been around are in decades and donald trump is just beginning.
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melissa: sabrina, how much of a deficit is that? to talk about anybody else would have been out there raising money. he made it one of the tent poles of his campaign, he's not going to raise money, he can do it himself. he doesn't need to be beholden to anyone. it's a double edge sword for him. how far behind is he now? >> little double-edged sword. from the outside perspective, analyzing campaign tactics it is important he fund-raisers, it demonstrates widespread appeal. if you look at candidates who are largely self-funded like a meg whitman in 2010. she invested $110 million of her own money but wasn't able to demonstrate she was well liked and well received by the voters in california. for donald trump, who is already under a lot of scrutiny, it's important he shows he has support from a wide swath of voters. melissa: brad, push back on that a little bit. he has support from a wide swath of voters.
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he's the one who's ahead, on his way to the nomination, captured almost all the delegates so far to the points where the others dropped out. he does have support so far does, he need to demonstrate that by raising money as well? >> he does. sabrina is absolutely right. carly fiorina put millions of dollars into her own campaign, and what did it get her? melissa: they didn't have millions of millions of millions of votes, either of the women that you mentioned. >> this is true. here's the point, it's unfair for the american people to expect an individual to pay the freight. melissa: that's a different point. a different point. i like that, why is it unfair? why is it unfair? he wants to do it and sell a building why, would it be unfair? >> even though he's wealthy, that's not the way the system works. the system, and sabrina's point is well taken. not only do you have to show support at the ballot box, you
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have to show people are willing to give something of value. this is an investment in the future of our country. donald trump doesn't have to take large sums of money. there are candidates like bernie sanders taking the average donation is $27 from millions of people. he has to start now. having the ability to raise money and garner votes is really what makes the best candidate. melissa: sabrina, isn't that old world thinking, though? what people like about donald trump is he's not bought and paid for. he can do it himself. you bring up bernie sanders which is so true. he's saying wall street is not giving me a fortune like hillary clinton, the giant money machine pushing forward. that's not what i'm all about. he says you folks are giving me and $10. does the way that donald trump raises money make a difference? >> absolutely does. his goal is to show lots of people willing to invest in him and that he's earning their votes in some way, and it's important to show he's not just
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a wealthy person able to put himself in office. that runs counter to the populist narrative. people want to feel like anybody can run for office, that's the american dream, not just the wealthy among us. it's important he demonstrates he's one of the people. melissa: yeah, very interesting debate, guys, thank you so much. appreciate your time. david? david: u.s. navy s.e.a.l. tragically killed in iraq yesterday while advising kurdish forces near the city of erbil due to direct fire from islamic state militants. the identity of the s.e.a.l. is 31-year-old charles keating iv, he's the grandson of the man caught up in the s&l collapse. the scene of the attack being described as extremely heavy, extremely intense fire fight between kurdish troops, kurdish peshmerga forces and isis terrorist fighters. keating ran track at university
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of indiana, later attending naval academy. all flags in home state of arizona are ordered half-mast by order of the governor. melissa: there is a tough road ahead, listen. >> this fight is far from over. we must continue to look for opportunities to do more as we work with our partners in iraq and syria. melissa: carter met with officials from 11 countries to discuss what more can be done to accelerate the military campaign. in both iraq and syria. the u.s. announced plans last month to send more than 400 troops to the region. david: with what goal? that's the key. that's what donald trump keeps asking, as long as you have the specific goal, it might be okay with the american people, but we've had a very ambiguous goal for the last couple of years. melissa: great point. david: what you have to know coming next about those stocks. plus the second largest
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these little guys? they represent blood cells. and if you have afib - an irregular heartbeat that may put you at five times greater risk of stroke - they can pool together in the heart, forming a clot that can break free, and travel upstream to the brain where it can block blood flow and cause a stroke. but if you have afib that's not caused by a heart valve problem, pradaxa can help stop clots from forming. pradaxa was better than warfarin at reducing the risk of stroke, in a clinical trial - without the need for regular blood tests. and, in the rare event of an emergency, pradaxa is the only oral blood thinner other than warfarin with a specific reversal treatment to help your body clot normally again. pradaxa is not for people who have had a heart valve replacement. don't stop taking pradaxa without talking to your doctor. stopping increases your risk of stroke or blood clots.
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ask your doctor if you need to stop pradaxa before any planned medical or dental procedure. pradaxa can cause serious, and sometimes, fatal bleeding. don't take pradaxa if you have abnormal bleeding. and seek immediate medical care for unexpected signs of bleeding, like unusual bruising. pradaxa may increase your bleeding risk if you're 75 or older, have kidney problems, stomach ulcers, a bleeding condition, or take certain medicines. side effects with pradaxa can include indigestion, stomach pain, upset or burning. go with pradaxa, the only blood thinner that lowers your stroke risk better than warfarin and has a specific reversal treatment. eligible patients could pay as little as zero dollars on co-pay. ask your doctor about pradaxa today.
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. david: big hour for earnings, back to adam shapiro at the new york stock exchange where shares of fitbit are dropping after the first quarter reporting. >> reporter: down 11%, david. such a monster in the wearable tech sector, they beat on revenue, 505 million, the street wanted 444.26 million. earnings per share expected three cents, the guidance in the second quarter has investors worried. lowering guidance in the second quarter. let's go to weight watchers, oprah winfrey helping turn the company around. revenue 306.9 million versus expected 308.9 million. the loss at 17 cents, better than the street expected which
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was a loss of 18 cents and upped full year guidance, so perhaps oprah winfrey, all that she touches is gold, perhaps works for weight watchers as well. and our parent company, twenty-first century fox year-over-year up over the 6.84 billion, and a bit better than the street expected. earnings per share, bit of disappointment for the street. 44 cents, street was correcting 47 cents. year-over-year that was down from the 46 cents last year. cable growth up 9.8%. revenue from cable 3.94 billion. broadcast tv was up, 5% higher had, to do with higher carriage fees. david: the number you saw on the left was a little off at 44 cents, it was down off of the estimates, thank you very much. melissa? melissa: i hope you are feeling lucky. the powerball jackpot soaring to $348 million. that is the biggest prize since the $1.3 billion prize in january. the odds of winning are more
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than 1 in 292 million, that is according to powerball. the next drawing is tonight at 11:00 p.m. eastern. i'm sure you'll win. go get a ticket. you'll be fine. david: can we have a guarantee? the francis guarantee. john kasich said to officially suspend his white house bid to do what ted cruz did last night. a formal statement is expected in minutes, and we will take that live from columbus, ohio. melissa: medical mistakes are a lot more deadly than you think. the study that has people paying attention. yikes! ♪
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. melissa: could taking medical attention cost your life. medical errors are incredibly
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common, and the third leading cause of death in the united states. can you believe that? jonathan serrie has all the scary details. >> reporter: melissa, yeah, third leading cause according to this research team, yet they say it is grossly underreported. here's why. >> there's a historic system we learned dating back to 1949 where they only tabulate causes of death with billing codes. people don't just die from billing codes, people die from fragmented care and overdoses and other problems with medical mistakes. >> reporter: researchers at johns hopkins school of medicine analyzed a collection of individual studies on medical errors to come up with a nationwide estimate. more than a quarter of a million deaths in a given year which would place medical error among the major killers just after heart disease and cancer and more lethal than one disease and car crashes. they published their analysis
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in the bmj along with medical recommendations, there needs to be a standardized method on reporting and collecting data on the national level, instead of creating private silos of information at individual hospitals and medical centers. the health care industry should follow the example of air crash investigations where lessons learned are shared publicly to avoid mistake. melissa: what are the other things the hospitals can do to avoid the actual errors? >> yeah, another lesson straight out of aviation, checklists. we've already seen hospitals around the country that are adopting these as a way of reducing human error during difficult medical procedures. melissa: wow, that does not inspire confidence but better to know than not. jonathan serrie, thank you very much for that. >> certainly. david: unbelievable. we have known people who have been killed in hospitals and now you can say. that they've been killed by the hospitals.
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you wonder how much more of that will go on as we get fewer doctors. are you sitting down you? probably are. we will spend less than 1% of our lives doing it. the launch of a new campaign by the sport apparel company includes a worldwide study that finds we spend less than 1% of our lives devoting time to physical fitness while spending 41% of it staring at screens and almost 30% of our lives sitting down. so get up. melissa: get up and don't go to the hospital. that's what i'm taking away from that block. >> the key to a longer life. donald trump is getting ready to be the last republican candidate standing. we are moments away from john kasich formally suspending his presidential campaign. we'll cover it live. when it comes to small business, she's in the know.
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. melissa: breaking news right now.
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any moment we are expecting ohio governor john kasich is going to come out onto the stage and suspend his campaign for the white house. we're going to keep an eye on the podium and bring it to you when it happens. david: stating the obvious, donald trump is the presumptive republican nominee. ted cruz said he was suspending his campaign. so donald trump is the one candidate remaining. that means he's the nominee. melissa: there you go. walk you back through the earnings through this hour, it was a very busy hour. twenty-first century fox earnings right there, the parent of this network, as well as fox news and twenty-first century fox movie studio. david: and maybe soon hulu. melissa: reported a 5.7% rise in quarterly adjusted revenue. advertising sales higher than expected. not surprising, though, i guess it is by definition but the reason is the political ad season, as we're seeing the competition on both sides heat up, that is delivered ad revenue. david: that could increase more as we get into the general
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election as we know donald trump, didn't have to spend a lot of money. he's prepared to spend a lot more money in those general ads as we move. of course, that will benefit the local stations a little less, but overall certainly fox news and fox business benefit. melissa: why don't we show you tesla as well, another big one in this hour. they advanced 500,000-unit production plan to 2018 saying they're on track to deliver 800,000 to 900,000 electric vehicles this year. produce 500,000 vehicles in 2018, two years faster than expected. that was the key metric that investors were looking for. they wanted to know about production and delivery because of course they are able to generate lots of sales, people plunking down money. 325,000 people plunking down money for the next version of the model 3 but it depends when you can deliver it. david: and depends on the political situation as well. because a republican administration, if one is elected in november, may not
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provide as much extras to the company as they perceived over the past 7 1/2 years with president obama. a lot of the incentives to buy an electric car came from the obama administration. melissa: all right so, lot to follow here, keep an eye on the screen. "risk & reward" starts now. deirdre: we are just moments away from ohio governor john kasich making announcements he is expected to suspend his campaign. you are looking at a live shot there in columbus, ohio. we will bring you back there as soon as he starts speak. this is "risk & reward" i'm deirdre bolton. governor kasich and donald trump are the last two candidates in the republican primary race. senator cruz surprised many last night by dropping out. >> we gave it everything we've got, but the voters chose another path. with a heavy heart, but with

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