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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  May 19, 2016 3:00pm-4:01pm EDT

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she admires because he's, quote, a freedom fighter. "like" my facebook show page and tell me what you think, plus egyptair has said they found the wreckage of flight 804 as investigators work to determine if, in fact, it was terrorism that brought down the flight. liz claman is all over the story and takes you into the close now. liz: in fact, trish, we're just getting the news, france is sending a team of investigators right now to the scene of the crash and, of course this is weighing heavily on the hearts and minds of travelers all around the world not to mention the family members, we have a triple-digit dive as the dow and s&p are swimming underwater for the year. down 118 points, had been down 196 earlier. retracement, closer to the cf1o flatline. this as another fed head warns that june is a live month for a possible rate hike. it's a possibility, folks. to that horrific crash of egyptair flight 804 weighing on airline stocks, travel and
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luxury stocks as well. wreckage from the airbus a320 from paris to cairo has been found in the mediterranean sea. the news revealed in the past half hour. no signs that any of the 66 people on board survived. devastated family members are gathering and waiting in cairo as speculation focuses on the possibility of a terrorist attack as the cause of the crash. what does it look like to the trained eye? we've got one, former cia director james woolsey on the crash, terrorism and security of america's airplanes and airports. james woolsey with us live. on the campaign trail, the front-runners are sweating it out to raise funds. donald trump and hillary clinton focused on campaign crash as a brand-new "fox news poll" shows trump leads hillary clinton, but the new numbers we have both show both have major flaws as candidates. senator roger weaker and bret
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baier on the race for funds. the latest details on golfer phil mickelson's brush with the law, his connection to a professional gambler and wall street bets gone wrong. less than an hour to the closing bell. let's start the "countdown." we have breaking news right now, we have developing news on what's going on in egypt, not to mention what's happening here in the u.s. on the markets. so is it fear of the fed or fear of terror? both have a significant grip on the psyche of the markets at this hour. glad you are with us, a lot could change within this hour. we have all major indices in the red for 2016. follow-through of yesterday's somewhat moderate losses. primarily for two reasons, the news of that egyptian airplane crash that is looking more and more like a terror attack and on the federal reserve side,
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new york's federal reserve president william dudley pointedly saying in a speech today, quote, we are on track to satisfy a lot of conditions required before we see a june or july rate hike. we're almost there. pretty much how the market is interpreting what he said, and june will be a so-called live meeting, live meeting and that, of course depends on what's happening with the data. all this on the one-year anniversary of the dow's all-time high. and that number, 18,312, we're at 17,414. we're nearly 100 points below that level at this hour. today would look a lot worse if it weren't for walmart propping up the dow. the big box retailer coming in with gangbuster earnings for the quarter, and the company attributing the gains in part to vb increased employee wages. remember when they hiked up wages significantly and people said this would kill the company, hurt their profits. not so. they came in with good numbers
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and the stock is skyrocketing up 9%. we've got this, merger thursday? usually merger monday. german drug and chemical group bayer ag has made a move to monsanto. as you see monsanto up 4%, shares of bayer are tanking, the worst drop in five years for the company. down nearly 8%. nobody knows the numbers on the detail, what they'd be offering, but shareholders do not like this. monsanto has a $44 billion market cap, seems like a lot to the shareholders on the german side. the egyptair and the breaking news, it is official, egyptair confirmed the plane wreckage from flight 804 has indeed been found. strong likelihood that the egyptair crash was a result of terrorism. it had left paris, just near
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the island of crete when it started making erratic turns, then plummeted thousands and thousands of pete and disappeared. here's what we know. egyptair was en route from paris to cairo and vanished from radar. it made a left-hand turn, 90 degrees, and spinning right by 360 degrees. very abruptly, midair, just as it entered egyptian airspace and plunged and the mediterranean sea. the u.s. navy is providing new footage of the p 3 orion aircraft searching for egyptair 804 as we speak. that type of aircraft is on its way to help search for the wreckage, some of it has been found. the footage shows the p-3 departing the airstation in sicily this afternoon. egyptian officials say terrorism are much higher the possibility than a technical
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failure. so many questions unanswered, families devastated and mourning and speculation swirling as to what happened and who's to blame? to ashley webster in the newsroom in new york with the latest. what can you confirm for us. lot of developments in five minutes. >> reporter: this is changing constantly as you can imagine. your comment that suggestion or speculation is growing all day that this was indeed an act of terrorism and not mechanical failure. why? if it was a technical problem or there was a fire or some sort of failed engine, the pilot or the crew would have been able to put out some sort of mayday, some sort of emergency signal out. that is not the case. the erratic behavior of the plane before it dropped off the radar was literally 10-15 minutes after the pilot had a very normal conversation with air traffic controllers in greece, saying thank you very much in the greek language. seemed to be in good spirits. now, the question is for
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longest part of the day, egypt refused to admit there was debris found in the mediterranean, despite the fact that many outlets were reporting that until they did put out the tweet two hours ago. it says from the egyptian ministry of foreign affairs declaring the finding of missing aircraft m s804, in cooperation with the greek counterpart searching for other remains of the missing plane. that was the final bit of hope that had gone for the victims and families and relatives aboard the plane. three possibilities what brought the plane down, liz. catastrophic mechanical failure, it could be, but not considered likely. disturbance in the cockpit, or an explosion on board. now, we do know that the prosecutor's office in paris has begun an investigation of all what they call flightside employees at charles de gaulle. that is anyone who it contact with the plane while on the
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ground waiting to take off to head to cairo late last night. paris has done this before, indication that there were concerns about employees who may have radical islamic views. this was done a year ago, 60 employees were fired as a result of the investigation. the paris office says it's going to take a close look at everyone working on the that airport. they've been interviewing all of the security guards this afternoon who were at the airport last night. this is going to be a long investigation. the key, of course, is finding that black box, it's believed it will be emitting a signal, a ping if you like, the key is finding it. once they do that, there will be a lot more of the answers given, they hope on the black box, liz? liz: thank you very much. we need to let our viewers know, any new developments for the search, we found it, right? they have agreed they have found at least the wreckage, but any new developments on the news swirling around it we will interrupt.
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in just a few minutes we have former cia ambassador james woolsey regarding the terrorism, what he thinks happened here, the threats facing france. all the countries in europe and, of course here in the united states. so look, it is no surprise that the markets are in no mood to jump higher. we have this, new york fed president william dudley adding on the fed minutes, the fed is ready to hike if the data continue on the decent path. today dudley told the crowd that june will be the so-called live meeting, there is a possibility they could raise and that a rate hike is still on the table for july depending on economic data. so what are the markets think? right now we're pricing in a 26% chance the fed will hike rates next month. remember one month ago that probability stood at 2%, so to the floor show, traders at the new york stock exchange, cme group and nymex. keith bliss, tell me what has the markets in their grip right now? is it the fear of terrorism?
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we know that's affected the markets in the past? is it really the fed uberralis? >> i don't think the fed is impacting the martha much as we'd like them right now. it's about the fed and the economic outlook and also, liz, we've been dealing with seasonal factors for a long time. i've said this before, the strongest week in the second quarter is the third week in april, that is happening a little bit here. the fact of the matter is before we came on the air, we traded in a straight line back to the fall of 2014. we not moved much. we've gone up, down, but back in the same spot. i think the markets are dealing with a fair amount of weakness that they need to understand and reconcile and it's not helping the fact that you have fed speakers coming out and saying we are going to raise interest rates coming in here, and two things that the market doesn't like is decreasing earnings and higher interest rates.
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that's going to be a problem. liz: throw that one in there, larry. there is always a trade, a way to make money. well off the lose of the moment. the dow is down 89 points, having been down more than 190. this is a decent sign. this final hour of trade, i always remind viewers, anything could happen, so what do you think the path is here? >> i think short-term the path would be more rotation in the market. believe it or not, the market is holding up very well, people are very afraid we're going to have another repeat of august or january, worried about soft china data. the hawkish fed, consensus of being caught offguard. the good thing is corporate earnings were good enough, oil rallied 24% since the end of march, recession risk is lower. the trade is the reality that we are going to be raising rates. i think it's going to be july 27th meeting, not enough data between now and then. liz: you're right, that's a great point.
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alan, larry, you talked about oil, alan we're looking at oil trade today that is lower because we're expiring the june contract tomorrow, that could go to july. that's kind of wonky. does the fact that the dollar is stronger today, correct? that makes oil weaker. gold is down 18, 20 bucks, right? >> yes, we had a sell-off, it's also a straight move up, there's got to be some sort of retracement. we had that. watching crude oil and the quick rally up and for us settling where we about today it sets us up for a bullish move up from here. i think we're going to get on 52 1/2 to 55 in crude oil before we see a sell-off back down. liz: boone pickens told us last week 50 to 60 by the end of the year. that would be in its sights. good to see all of you, we've got to run. keith, larry and alan. thank you so much. everybody needs to watch "after the bell" in 48 minutes. david asman and melissa francis have unbelievable analysis.
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gap is reporting quarterly earnings. gap is not always but a little bit of a proxy for mid to higher priced retail. got to watch. that 4:00 p.m. eastern immediately following "countdown." closing bell about 47 minutes away. despite all the red on wall street, here's a retailer looking shiny. urban outfitters doused in green at this hour. the retailer posting a 3% sales increase in the first quarter. that was good enough to give the beaten down stock a lift of nearly 14% right now. but remember, urban outfitters has been down 40% over the last year. good move today at least. up next, having donald trump at the top of the ticket, look, no surprise, it's got some republican senators worried about their re-election chances, but could it be a blessing in disguise? mississippi senator roger wicker up next. he leads the national republican senatorial committee. he helps them raise money, he's going to tell us why trump's
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xfinity x1 lets you access the greatest library of billboard music awards moments, simply by using your voice. the billboard music awards, live sunday may 22nd, 8/5 pacific, only on abc. . liz: now that the presidential race is down to three, the battle to raise cash is definitely on. the presumptive republican
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nominee donald trump is holding a fund-raiser in less than three hours in lawrenceville, new jersey, to help the state's governor chris christie recoup losses from his own failed presidential campaign, he's not the only one in the green today. democratic front-runner hillary clinton at this moment holding a fund-raiser in chicago after she hosted another one in park ridge, illinois, just a few hours ago. they're in full money making mode here. 2016 is about so much more than the race for the white house. 35 senate seats -- 34 rather, 34 senate seats hang in the balance. joined by the man responsible for getting the republican seats re-elected. ex-presidential candidate, right senator? senator wicker of mississippi joins us now. good to see you, sir? >> glad to be with you! >> you look at the challenge you have, and to be fair and balanced, we should immediately tell our viewers, we reached out to your democratic counterpart senator john tester, we hope to have him on
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soon, he was not available. senator wicker, this is a big challenge, donald trump is doing his thing, you have a bunch of senators challenged in tough races and they need coin, don't they? how are they going to do it? >> we've been raising money all along and doing pretty well. let me tell you, six years ago with the cycle was elected we won 24 seats. the democrats only won ten. that means we have 24 seats to defend, and we're happy to have that challenge because we think we have excellent incumbents who have a good record of delivery for states and constituency, i feel good about the fund-raising and quality of our incumbent candidates, and there are a couple of states where we think we will replace democratic senators with republicans this year. liz: let's get to ohio, a key battleground state for the presidency and the senate situation, rob portman would love to continue that, holding that sea.
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he's a republican, but a democratic group secured, what, about 50 million to aiding his competitor ted strickland, ted strickland, i've covered him too, he beat bob taft with 60% of the vote in 2006, yes, he was beaten by john kasich but by a narrow margin. how are you going to win this one? >> well, normally the rule has been in those midwestern states that the governor is doing a good job, he gets a second term. in ohio, the voters decided that ted strickland had not done a good job as a trustee in the governor's office, so they replaced him with john kasich. i think his failed record as governor is going to compare very poorly to the stellar record of rob portman. i think in terms of the quality of the candidates, our guy portman comes out a lot better,
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and, yes, the national democrat liberal special interest money is going to flood into ohio in a torrent, and we're going to have to be ready to combat that. liz: so here comes the big question, senator. sometimes a sitting president or somebody running for president is a boon to a candidate of the same party. will you be asking donald trump to show up for certain senate races, and i say this because you and i both know that there are some republicans with a lot of money who are not ready to endorse him, they don't love him, because it took him flip-flopping parties a couple of times before he declared himself a republican in 2012. you let him do his thing for the presidency and figure out ways getting the koch brothers' money. >> we appreciate what the koch brothers' money might be doing in the super pac. the question about trump is this, will he be a drag from
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the top of the ticket on senate candidates? i think in the recent polls, we saw the fox poll yesterday, it shows donald trump leading nationally by three points. i don't think that question is going to be asked as much in the future as what is the enthusiasm gap on the part of hillary clinton. she keeps marching toward the nomination. liz: let me just be clear here. >> to win any primaries. liz: it will be helpful in depending on the state? some of the states where republican senators try to win here, these are states that twice went for barack obama. >> that's true. liz: there could be a factor after eight years. that's a possibility, the fox poll shows us maybe donald trump would be a boon and not a drag. >> i think that may very well be the conclusion that a lot of people are reaching. we think in wisconsin where, we've lost that state, those
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electoral votes in a very close race in recent cycles, we think we have a real good chance to win with donald trump there. pennsylvania, as you saw, donald trump is leading. we're close in new hampshire. we're close in ohio, which you've already asked about. so i really don't think that drag is going to be there and i go back to this enthusiasm gap when bernie sanders and his supporters realize they're not going to be able to get the nomination though they've won primary after primary, i think many of them are going to sit home and those are votes that the democratic senate candidates are not going to have in the general election. liz: we shall see. it's a possibility. senator, thank you. senator roger wicker. >> thank you. lot of work to be done. liz: and a lot of money, which turns some people's stomachs. they think do you have to have that much money to win a race? it is what it is. by the way, senator tester is always welcome on the program. he is the counterpart to what senator wicker does, that is
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raising money to help the democrats win. you heard senator wicker mention the "fox news poll." special report host bret baier coming up in minutes to talk about what he sees specifically in the polls and what hillary clinton and donald trump both need do to jump ahead. closing bell, we're 36 minutes away. up next with the dow down 77 points now, the race is on to find the black box of egyptair flight 804. was this crash the result of yet another terror attack? can you tell anything before we find the black box yet? more importantly, are our airports safe right now? those questions and more, we'll pose them to former cia director ambassador james woolsey standing by live next on "countdown."
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liz: the search is on for the black box. this breaking news on the crash of egypt air flight 804. right this minute they are
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trolling the waters. here's the map, as you can see. look, while there were no american citizens onboard, u.s. intelligence officials are desperately trying to help in any way they can in part by sharing threat data held by the national counterterrorism center with the french and egyptian investigators. so at this moment, a counter terror source is telling fox news that posts on social media from known terrorist accounts and sympathizers are being scanned right and left. ambassador james woolsey joins us now on whether he suspects that this is an act of terror. does it look like that to you? >> it definitely does. i think it's going to show up that way. it may be 10 to 1, that bet could be wrong, but i think it's likely. and we have a problem that's, liz, it's bigger than just whether or not we have enough tsa people at the airports and
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sharing intelligence. those go without saying, we need to do those right. liz: okay. >> but there is a large company, foreign company. that has been looked at by lisa benson in phoenix quite a bit in the last couple of years. they have fired a dozen-plus american corporations that are supplying maintenance workers and the like to aircraft hangars and so on and started hiring people in many circumstances who have very recent immigrants from the disaster zone of the eastern mediterranean. and that -- and without the right kind of vetting, and it's really hard to do that vetting because this part of the world is one where passports are forged and bought and sold quite readily. they could end up with a situation in which you have -- and it's happened a couple of times already in minneapolis and
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one other city -- where you have someone who is on jihad privately -- liz: and they get a job. >> -- working in a hangar, and they put a bomb inside a plane. liz: ambassador, if this turns out to be terrorism, what does that say about the security of paris' airport? we know that when that russian jet back in october went down with more than 200 people on it, turned out to have been a bomb, and it was leaving cairo. we figured security wouldn't be great there or as good as maybe the european airports, but now what? what are american travelers to think of what happens here depending on whether it turns out to be terrorism? >> it's kind of uncomfortable, but you have to put yourself in the shoes of the terrorists. one likely way to kill a large number of people would be to have the maintenance workers in the large facilities. they're not watched closely, and if one has a bomb that's the
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size of a large coke bottle and puts it in the right place inside the aircraft, it could go off when triggered or by the altitude or by any means. and it's very hard to find manager like that. we're -- something like that. we're not talking a big bomb, we're talking a very small one placed in exactly the right space to take an aircraft down. it can happen. liz: soft targets, hard targets, you know, coming up next month we have the euro 2016 soccer event. that's huge. it's second only to the world cup. >> yes. liz: a lot of people will be flying to that locale, and we know what happened with the paris attacks, we know what's happened with brussels. what is the best plan for security officials in all of these countries in dealing with potential threats? >> there's nothing to replace really careful and thorough vetting and cooperation between the various countries that are involved. and that's why this is so hard. as i said, it's really hard to vet people from that part of the
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world especially if they've just come over fleeing the wars and civil wars there. so i think it's going to be a dicey thing, keeping enough security done right in order to keep those games in france going. and then shortly after that, the olympics. we have a different kind of problem, the zika virus. it's not a great year for travel -- [laughter] and for sports events, i don't think. liz: well, it's very upsetting. thank you very much, ambassador james woolsey, formerly the head of the cia. we appreciate you coming. >> good to be with you, liz. liz: 27 minutes before the closing bell rings. yeah, the dow is down nearly 100 points once again. looked like we were making a run at least to slimmer losses. at the moment though we're down 98 points. again, you heard senator wicker talk about new polls. yes, they are new fox polls, and
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they show presumptiontive republican presidential nominee donald trump overtaking hillary clinton in the battle for the white house. up next, bret baier has parsed those polls. he's talked to everybody on the campaign trail. he's standing by on how much pressure hillary clinton is under, how much pressure donald trump's under, what he would ask the democrat if given the chance in a fox news debate. be thinking, bret, we'll see you in a sec. ♪ ♪
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>> i'm lori rothman on the floor of the new york stock exchange with today's tech minute. mark zuckerberg emphasized his respect for conservatives when he met with them on wednesday. the goal? to combat allegations that the world's largest social network is politically biased. zuckerberg wrote on facebook, quote: donald trump has more fans on facebook than any other presidential candidate.
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and fox news drives more interactions on facebook than any other news outlet in the world. it's not even close. now, consumer health care under fire again, "the wall street journal" reporting that the company told federal health regulators it voided two years of results from its blood-testing devices. some patients received the wrong results that might lead to incorrect health decisions. now, this comes a few months after regulators found major problems at their california lab.
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"special report" host bret baier. this is an interesting one. obviously, manna fort is extremely experienced, but he's for establishment, isn't he? >> well, he signed onto this campaign early on and has been the adult in the room as far as somebody who's been with campaigns and been dealing with the different aspects of a campaign. he's now, as campaign chairman and also chief strategist, that's a higher title. and how the split works with corey lewandowski who's technically the campaign manager, we'll have to see. i think this tells us that they're getting pretty serious about expanding the general election operation. liz: well, i look at this and i think it looks like things are starting to coalesce on behalf of the actual trump campaign. now, looking at the latest fox news polls, you've parsed through them, we've looked at them, they look pretty interesting, don't they? again, it's just one poll, but you backed this up back to april.
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now donald trump is ahead of hillary clinton, and yet in april she was ahead of him if they were to go head to head. what does this tell you right now? >> well, again, it is early, but it tells us that there is this coalescing. first of all, people like winners, and this started to form right after indiana. i think that the most interesting number for me in this poll, liz, is the number about independents. and donald trump leads hillary clinton by 16 points among independents in this poll. if that was to track and to continue forward as you get closer and closer to election day, that's a big worry for the clinton campaign and something that the trump people have to look at and say they're pretty well positioned as of this poll. i think we're going to go on to be looking closely to see if other national polls that we respect track with this one. liz: well, that's important, you know? you don't just take one single poll, because these things are very noisy --
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>> even though we have good polls. liz: exactly. it certainly helps when you see a layering-on process. speaking of that, you've worked very hard to convince the democratic party to come and do a debate on fox news. now bernie sanders is the first to step up to the plate and say depending on the moderators -- and i'm sure he would lo you, bret, he'll come on. have you thought about if hillary agrees, what are the number one questions you'd be really interesting, without revealing your hand, that you think the viewers want to hear about? >> well, listen, i think you're right. i'm not going to reveal the hand, but there are issues that have not been asked that are important for people to hear about the separation between the gop prospective nominee and these two candidates. we have bernie sanders who's accepted the invitation to a fox news debate in california. we are hearing from and talking to the hillary clinton campaign and hoping that they, too, are going to accept. and we'll announce all the plans
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probably in coming days. and i think the number one question, the number one way to ask a question is to try to get them, as you know, off their talking points. we've heard every kind of iteration -- liz: sure. >> -- about all different democratic points, but i think there is a way to refine a question as we've done on the republican side that perhaps takes them off their stump speech. liz: i think it would be great. i hope the democrats agree and, bret, thank you very much. you're always welcome on the show. >> thanks, liz. liz: be sure to watch "special report" weekdays, 6 p.m. eastern on the fox news channel. it is definitely must-see appointment tv. closing bell, 17 minutes away. the dow down 78 points at this second, we're at 17,447. on the one-year anniversary of the dow hitting its all-time high -- considerably higher than where we are right now. golf superstar phil mickelson, three putts, another trade fingered in another insider trading case.
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a golfer? will he be able to swing his way out of this bunker? charlie breaks it next on "countdown." ♪ ♪ so what else is new? how's your mother? umm..she's doing good. she needs more care though. she wants to stay in her house. i don't know even where to start with that.
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i think, i think dollars to doughnuts the settlement happens -- liz: gotta go up. >> but if you look, it's going down because most people think this thing would end, and it's not ending. for all i know, it's going to be done tomorrow, but as of late yesterday, terms have not been reached even hoe herbalife -- though herbalife has put up a big fine and changes to the business model. liz: you know who phil mickelson is? well, the securities and exchange commission announced the findings of a bombshell insider trading investigation today x three men have been named in the case, but only one has been arrested, and it's not this guy on your screen. so the others facing charges while working with the government, the third name as the investigation, legendary golfer phil mickelson. for more on this, we turn to criminal defense attorney doug burns and our senior correspondent, charlie gasparino. here's the situation. dean foods is the stock. apparently, there's this golfer
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dude named billy waters who is the -- >> gambler too, noted gambler. liz: noted gambler, doug -- >> yes. liz: gives phil mickelson a whisper in the ear and says dean food is going to do something. phil mickelson invests a lot -- wait -- $2.4 million in one stock which he, apparently, according to all his trading history has never done before, makes 900 grand -- >> back up one step. liz yes. >> yeah, go ahead. >> the step is the guy from dean foods -- >> i mean, what happened was -- >> -- tells walters -- liz: right, the gambler. >> the guy from dean foods is cooperating. liz: former employee. >> he tells the feds that he gave walters the inside tip. we know that's a chargeable offense. the question goes when walters tells mickelson that same information, why isn't that -- >> i have been in many, many
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insider trading where a tells b&b tells c -- liz: and phil is c. >> so davis is on the board of dean, tells walters many, many times over and over very specific insider information; earnings reports, earnings forecasts -- >> and he's an insider. >> that's a clear case. by the way, they use a prepaid cell phone which one of them then throws in a waterway -- [laughter] very strong case. destroying evidence. liz: we should say phil mickelson will not be charged -- >> this is the second part now. that smells to high heaven. now the mickelson part. >> of course, go ahead -- no, what happens is he tells mickelson, walters does, one particular tip. but here's the key, he doesn't give him anything specific like it's an earnings report, okay, or there's bad or good news. he just tells him -- liz: can't believe i'm hearing this from you. you worked at the sec. you have looked at this.
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in one week phil mickelson make a profit of -- >> it doesn't matter. you could make 100 million. if you didn't do anything wrong -- i said originally mickelson did nothing wrong a year ago. >> here's another reason why. they don't have any evidence that when waters told mickelson anything other than buy the stock, that's number one. number two, they don't have any benefit where mickelson is paying back walters. >> excellent point, because the second circuit case that everybody talks about, newman, big deal, says that if charlie gives me a tip, i have to know as a receiver that he's getting the benefit. liz: but, doug, doesn't it look strange to you that phil owed this gambler money? >> he's a gambler, so what? liz: he has 79 million in career earnings -- >> he's worth $200 million. >> okay, fine, so the guy gives him -- >> here's the thing. under the law it doesn't matter that he owes him.
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mickelson is -- why is walters giving him the benefit? in order for this -- >> because he's owed money. liz: he wants to get paid back. >> that's what it is. >> there's no benefit. >> there is a benefit, he's getting paid back. i'd be the first to tell you if i thought phil mickelson did something right. liz: shouldn't phil mickelson have said this isn't right? >> there's the point. liz: should the pga tour do something about it? >> no. just issue a statement that phil mickelson has indicated that his conduct may have appeared bad -- pr -- >> the guy that got off, michael steinberg, on the same set of circumstances, the lawyer, barry burke, representing waters. just remember -- >> by the way, footnote, guys. [laughter] liz: we could do this all day. >> what if waters comes in and starts cooperating? >> that's the other thing. liz: and some are saying maybe you look at tournaments, and when people are desperate for
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cash, they throw -- >> why would mickelson be desperate for cash? he's loaded! liz: all right. listen, you never know. good to see both of you, doug burns, charlie gasparino. we've got the dow down 84 points with the closing bell about seven minutes away. gap earnings, they're up next. latest earnings report after the bell, not looking too gore juicer for the parent of old navy and the gap and one of the many stocks countdown closer says may be guilty of bad currency hedging decisions. he is going to give you his superstar secret list, coming up. i'm definitely able to see savings through using the car buying on usaa. i mean, amazing savings. i was like, wow. if i can save this much, then i could actually maybe upgrade a little bit. (announcer) save on your next car with usaa car buying service,
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liz. gap earnings are imminent. we'll keep it in a bug. other names reporting next week, like tiffany's. guess what? all kinds of companies in advance we'll possibly tell you might go down after their earnings because they didn't
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hedge properly against a strong dollar. we have the guy with fireapps. you talk about hedging heroes and dollar disasters, let's get to it. >> all right. liz: put some pairs here together. in tech who has done it well, who has blown it? >> google has done it. they have been doing great job for years. ones that will blow it not historically done as well as, is apple. tim cook is getting more currency aware but they have some ways to go. they should leverage technology better. liz: talk about pharmaceuticals and consumer names out there. who is going to do this right? who will be a hedge hero when it comes to the stronger dollar although the dollar denominate ad bit and dollar disaster. >> hedgers like eli lilly. they are doing good job on this part. as well as on zero side, which one under -- colgate and other ones are really looking to improve colgate but consumers
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products company could be doing better. liz: we have a no for j&j how come these companies can't get it right? they have been in business for years and years. i understand currencies are very volatile and how many currencies in some cases they have to hedge against? >> typically j&j have two, 300 pairs. they have currency elasticity in their price. they think they can hedge that way. that is not possible. they don't have the visibility. kpmg came out with research 60 plus percent of companies don't have proper visibility to better understand their hedging program. liz: keep this up on the screen, folks, what wolfgang is saying, some came out with earnings already, names on the screen like gap, apple, ralph lauren they haven't done as well hedging. >> no. liz: who is the best at it? >> google is very good at it, eke sent ture, pfizer, eli lilly. a lot of great companies are doing good job. how do i get better visibility?
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how do i communicate that better to my investors? at the end of the day they have more predictable cash flows. liz: we'll put the names on lizclaman.com and. wolfgang kessler of fire app. [closing bell rings] the dow well off the trenches off the bottom. that is the closing bell. david and melissa with after the belle. melissa: i'm melissa francis. david: this is "after the bell." we have you covered on markets. here what else we have for you this hour. newvillements in the mystery surrounding the crash of egypt heir flight 804. 66 passengers, including three air marshals on the flight from paris to cairo when it disappeared off radar over the mediterranean. authorities say terrorism is likely behind all this. the airline confirming wreckage from the plane has been found. on this day o

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