tv Countdown to the Closing Bell With Liz Claman FOX Business June 7, 2016 3:00pm-4:01pm EDT
course, are on the big prize, california. join us tonight right here on fox business for our special coverage. lou dobbs is kicking it off at 7 p.m. eastern, and he will join me and the all-stars at 9 p.m. tonight. don't miss it. liz is from california, right? liz: yes, i am. i'm from california, and i live in new jersey, so i'm covering both angles. trish: i like it. liz: we're going to have a great time, we're going to provide what we hope is that second-by-second information on a very important evening. trish is going to be at the helm, we'll see you then. thank you. and in the meantime, wall street readies itself for a historic day. we already hit dow 18,000, did it again just 40 minutes ago. this as oil hurtles over $50 per barrel, and the s&p 500 is nearing an all-time record. and you know what? it's not just the markets. hillary clinton may also be on the verge of making history.
the associate toed press announcing -- associated press announcing it's a done deal, but the former secretary of state waiting on the voters to officially decide. that could be tonight after all the results are in. hillary clinton could be the first female presidential presumptive nominee in our nation's history. voting underway in six states right now. our cameras are trained on live pictures of california, montana, new mexico, south dakota. it will, in all likelihood, be california that holds the golden ticket for a clinton nomination. an estimated eight million voters expected to cast their votes. the horse race there neck and neck, and bernie sanders or is running like the wind -- thanks, christopher cross, or should we quote tom petty? he won't back down. but that could change if bernie misses that victory in california. donald trump still dealing with the fallout with his comments about the judge in the trump university case at a time when many republicans feel trump should be attacking hillary clinton.
instead, trump is forced to defend his comments on an unrelated issue. will it hurt him as he begins to really try to raise millions for a likely fight against hillary in the general election? gop fundraiser, bigtime money man john jordan out of california, we're going to get his thoughts on how he separate9 eyesed this. -- strategized this. plus, canadian oil workers return to work. charlie breaks it, we're less than an hour to the closing bell, let's start the countdown. ♪ ♪ liz: we have our finger on the fox business official confetti cannon, as we like to call it. the dow is poised to close above 18,000. right now we're at 17,983. folks, that means it's not a sure thing. it has crossed the 18,000 line 32 times so far today alone, so you've got to stay with us the entire hour.
but either way the news is pretty good if your portfolio is heavy on stocks. first off, the s&p is less than 1% away from a record close, trading at a highest levels since last july. you see the s&p at 2116 right now. the record close level to watch, 2131, it was last hit may 21st of 2015. oil spouting higher on a weaker dollar. light sweet crude settled at an eight-month high, above $50 for the first time since last july. we're still there at $50.42. up about 1.5%. so as a result, the energy sector the best performing sector of the s&p. leading the way chevron and exxon, but look at schlumberger and conoco, all of them better by about 1, 2%, but conoco is up 4.25%. on the flipside, got to give the bad with the good. some of the biggest laggards are biogen, valeant, of course, and alexion.
charlie gasparino, as valeant drops 14%, is going to have exclusive details as you may or may not know, valeant slashed its guidance, so the stock is tanking. billionaire bill ackman has a big investment in it, so charlie's going to break that in just a minute. take a look at california, live shot of californians hitting the polls in manhattan beach as hillary clinton inches closer to history. but here's why her rival, bernie sanders, says today that will not be today. clinton needs 2,383 delegates to clinch the nomination. here's what she currently has, 1,812 delegates already pledged, but this is a big day of polling with six states casting their votes. 806 delegates are at stake, but bernie sanders says it's unlikely hillary clinton will sweep these contests, and he claims many superdelegates have yet to pledge their votes. superdelegates can switch, that's why sanders says he will stay in the fight.
let's bring in democratic strategist joe, to you first, it all in a way comes down to california. what happens if bernie wins that and hillary wins all the other states? he's not going to get out. >> yeah. i actually think he probably be will get out. new jersey's today, and new jersey is some odd-up, and all she needed was 30. she's right up there on the threshold. she's got this. the ap called this last night, which was a little bit lackluster because they knew they had these primaries coming today, and i think they wanted to scoop everybody. but this race is done. hillary clinton will be our nominee, there is no doubt about that. superdelegates as we've seen in the past, they really don't change. liz: mercedes, do you agree with joe? >> yes. you can tell joe and i have been in politics for way too long. [laughter] absolutely agree with joe. [laughter] i think what you're going to see is whether he wins or loses
california, i think it will be very difficult for sanders to justify staying in the race. we're not going to see these superdelegates switch to sanders. these superdelegates are primarily democratic establishment, state leaders, governors, local officials. they're going to stick with hillary clinton. i know that sanders wants to keep on on his revolution, but let me tell you, you've seen it when it was ted cruz and trump. ted cruz got his rhetoric attack on several issues 48 hours before he dropped out. he has to, obviously, continue with the fight. but there comes a point where she reaches that magical number, and it's going to be very hard for sanders to just stay in and he's going to get a lot of pressure from the democrats to step aside. liz: joe, it's a little stunning though to those who had, you know, you hear the term coronated, who had coronated hillary clinton months and months ago that it has taken this long, all the a way to june and california and new jersey. >> yep. yeah, absolutely. but here's the thing, with the process by which democrats
assign their delegates is very different than the way republicans do. liz: yeah, we know. >> we knew there could be a long, drawn-out process because you can't break away from the pack, and you also can't gain a lot of ground real quickly as a democrat. 's just not in the rules. but that being said, sanders wants to get to the convention, and he wants to make some serious plays on committees; rules committees, delegate, probably superdelegate allotment committees and platform committees because even though he starts -- look, i voted for the man. the revolution was something that he was trumpeting. those positions may still have planks in the platform for democrats, and he wants to make sure those voices are heard. liz he'll have some leverage, certainly. mercedes, on a potentially historic night for the democrats, hillary clinton being the first female presumptive nominee, donald trump is expected -- and we've been reporting this -- he is expected to host his own news conference. it is going to happen, you know, perhaps to keep the spotlight on him, but he's got to do
something positive with that light and make it less of a harsh light, certainly, especially considering what's been happening with him having sort of pinpointed an indiana-born judge as a mexican. what do you think he does tonight, do you think he apologizes? >> first of all, kudos to donald trump who's holding, again, another press conference as opposed to hillary clinton who -- liz: well, she held one last night, but it was very short. >> very short. eight questions. [laughter] but for trump, he needs to have this pivotal moment where he's shifting the narrative. he was a successful in the primaries where he talked about the economy -- liz: will he apologize? >> he needs to. will he? no. he will not apologize. that is not the way donald trump functions whether we like it or not. we know that republicans have called for him to apologize under the sun. he's simply not going to do it, liz. but he has to -- he's got to shift from the trump university which in no way is bringing him any sort of positive publicity to moving towards the fact that
we need to be talking about the economy. it is the issue that the american voters care about. other than that, hillary clinton's just going to eat him up for lunch because that's what she did last week with the speech she gave on foreign policy, and he's going to have to gain some ground in terms of messaging. liz: quick, joe, really fast, because we've got to run. >> he's got to apologize, and i don't think he will. you know what the worse job in american politics is right now is? being a gop candidate and having to run underneath him with all these comments because the next question you get from a reporter is are you supporting donald trump, and you're wrong either way. liz: the down ballot issues are very big. mercedes, joe, thank you. >> thanks for having us. liz: anytime. guys, coming up later we are going to focus specifically on strategizing the republican race. how donald trump plans to raise money to fight a very well-funded democratic presidential opponent if it's hillary clinton. gop fund raiser john jordan in the state of california joins me in about 19 minutes.
you've got to see what he has to say. 10:42 a.m. eastern time, that is the moment the dow hit 18,000 for the first time since april. right now we're at 17,977. look, we always stress this, 18,000 is, of course, a psychological level with not much importance beyond that. as we say, confetti button. but how do you trade it? let's get to the floor show, traders at the new york stock exchange, cme group and the nymex. teddy, i'm not sure there is a way to trade that or whether anybody should. however, people who stayed in stocks at the ugliest point in february have done more decently, have they not? >> oh, absolutely. unfortunately or fortunately, we're in an area now of the popular averages where they're going to separate the men from the boys pretty quickly. i mean, we don't know what it's going to take to punch through these next couple of hundred points on the dow to get us to a new all-time high, but, you know, we're right back up there again, a double top.
yellen yesterday sort of gave us a little more fed candy, you know, kind of took the edge off the hawkish chatter that we've seen for the last three or four weeks. that's what it takes, higher oil, weaker dollar. the fed on hold as, you know, still trapped between a rock and a hard place, you know? perhaps we get there. it's not going to be earnings, so it needs to be something else, and perhaps it's just the fed on hold. liz: fed candy, i like that. i want candy. [laughter] elliot, i'm going to pour a little sour on you because, you know, you were saying oil at 40, oil at 40. oil at 50 today, and above it right now holding there in the after market session. yes, we have a weak dollar, and even as alberta, canada, starts to grind up its operations in the shale area where the wildfires had stopped production, you would have thought the price would come down here, but it has not. >> not yet. that was a while ago. if you look over the last few weeks, i've actually said oil is not going anywhere, and it has not -- liz: it's gone from 45 to 50 concern.
>> oh, come on. >> well, it was 48 the last time we talked about it, actually -- liz: is that larry laughing? >> yes. >> it hasn't moved. if you're talking about a $2 move in a $50 product, to me, that's not a significant change. >> yeah. >> it's just a psychological number, 50, just the way you say that 18,000 thing. crude could be a buy here. i don't really think so but, you know, i'm not a seller here. i just think like i've said, i don't think crude's going anywhere. liz: larry, if you're talking about being a seller, anybody who's selling stocks, we mentioned fen, but let's bring it -- february, but let's bring it closer. we have continued to see gains here, wall street climbs the wall of worry. there are a lot of worries. you've got the british referendum vote coming up on the 23rd, everybody worries if they leave the european union, you'll have short-term volatility. again, people are piling money into stocks. not in huge volume, but nonetheless -- >> yeah, it's amazing. 300 points in the s&p 500 since middle february, and there's
been no economic performance to justify it. liz: is it a mistake to go into stocks? is that a mistake? >> no, not at all. i mean, what happened was the earnings projections were down about $105, that turned out to be false. also the chinese did not devalue the currency, the depreciation wasn't as great as feared. so it's not what happened, it's really what did not happen to get the market to where it is right now. now, next year they're expecting $130 per share. if that's true, then 2200 isn't out of the question. it's absolutely plausible. but from my point of view, i don't think the risk/reward is there right now, so i let somebody else have the fun. in six and a half years i've never said this, but today i would go underweight stocks only because the risk/reward isn't there, and you have plenty of opportunity in the next six months to buy these symptoms cheaper. liz: listen, i've got to quickly go, guys, buzz the nasdaq just turned slightly negative.
not a huge amount, but we're watching this minute by minute during this session. teddy, larry, elliot, great to have you. thank you so much. there's the nasdaq, down about half a point right now at the moment. you could call it flat but, hey, look, we're a game of inches here on a day like this because that's what we're doing for you, we're watching your money. closing bell, 46 minutes away. here's the dow 30 heat map, solidly in the green. we do have red on the screen starting with cisco systems and coca-cola, but leading the way is the parent of polo. it's chucking its old business plan, and that's not helping ralph lauren. ralph lauren announcing it will cut jobs, close stores and slim down its real estate holdings in a major overhaul to fix its struggling business. the luxury retailer also said sales will likely fall sharply this year. so when you see that polo ralph lauren is only falling under 2%, that shows at least some strength here, $94.40 a share. coming up, last month's
wildfires in canada forcing mass evacuations and homes and businesses, remember that? trees torched, people evacuating frantically. but one industry is finally getting back on track. the big business ramping up production and why it matters to you, your money and the markets, that's next on "countdown." ♪ ♪ measure
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liz: oil companies near and around canada's fort mcmurray in alberta are finally restarting operations after deadly wildfires ravaged the region, forcing mass evacuations and businesses to shut down last month. at its worst point, that shutdown killed output by more than a million barrels of oil a day, currently about 400,000 barrels still offline as firms including imperial, conocophillips and sun corp. work to ramp up production. way across the ocean nigeria still las a million -- has a million barrels offline due to terror action, still helping to force these prices higher. you may remember this scene, let's show it to you, irs employee lois lerner taking the fifth after being accused of targeting conservative nonprofit groups. today the irs has finally
released the names of the groups it targeted for extra scrutiny back in 2013. adam shapiro is on the case. >> reporter: and it's important to remember that the key question, liz, has yet to be answered by the irs which is why were groups filing for tax-exempt status put on a list to delay their applications, and what did those groups have in common? former irs director lois lerner testified before congress that the irs did target conservative groups with words like tea party patriot, liberty, those names in their names and inclusion on the list. many of those groups are part of a class action lawsuit now against the irs. the irs recently disclosed that it had placed the 426 groups on its so-called hit list prior to the 2012 presidential election. most of them were the conservative groups, as i said, with names like tea party, patriot, liberty or constitution in the names, but there's several others as well. roughly 29% of the easily-identifiable 426 groups were conservative, although it's
much greater than that 29%. opponents call the list of 426 bogus and fabricated, claiming the irs added liberal political groups to the list to make it look as if nothing sinister happened. but lawyers suing the irs say they have documents which show the original irs hit list targeted conservative and only conservative groups, and the liberal groups were only added after the treasury department started investigating the irs. liz? liz: adam shapiro, thank you very much. closing bell, we're ringing in 39 minutes. the dow has lost some of its gains here, still up 52 points at 17,972. will we hit dow 18,000? it's happened 32 times today. not there though right this second. now, since its launch we haven't seen an iphone slayer, but now the smartphone wars are heating up as rumors of a top secret samsung model leak out. there's even a code name, it's called project valley.
is it the iphone killer? stay tuned for today's tech minute. and you may have to fight a big crowd like i have to every year in omaha, but you too can have lunch with the world's greatest investor. we'll tell you what it will likely take, how much money it would cost for a table for two with warren buffett. actually, you're allowed to bring some friends. more "countdown" on the way of how you might be able to sit down to lunch with the oracle of omaha. ♪ ♪ there's a lot of places you never want to see "$7.95." [ beep ] but you'll be glad to see it here. fidelity -- where smarter investors will always be. if only the signs were as obvious when you trade. fidelity's active trader pro can help you find
♪ ♪ liz: i'll have the filet mignon times a thousand. how much would you pay to have a sit-down lunch with the oracle of omaha and pick his brain on investing? well, open your checkbooks, folks. the bidding for the 7th annual -- 17th annual power lunch with warren buffett is officially underway on ebay. it's off to a calm start. bidding started sunday, june 5th. top current bid is just over $230,000.
pre-qualified bidders have until friday at 10:30 p.m. eastern to place that bid. mr. buffett will dine with winning bidder right at this restaurant, because we shot that interview last year as it was happening with this luncheon. you can bring up to seven friends. it's smith and who eleven sky steakhouse in new york, it can be on a mutually agreed-upon date. the record high? somebody paid $3.5 million in 2012. so you're sitting there thinking i don't have that kind of money? okay, you don't have a couple of million to bid on the lunch? what would you be willing to do to have lunch with warren buffett in and, folks, it's twitter, can you please remain clean? you'd sing the whole musicalell? tweet me, leave a comment on our facebook page. find all the links to the all those interviews and more, lizclaman.com. the bid race is on for
embattled yahoo!'s core internet business. speak of bidding, this one's not on ebay, lori. lori rothman with today's tech money. >> that's funny, liz,ing thanks so much. longtime favorite in the race for yahoo!/verizon reportedly planning to submit a $3 billion bid for the core internet business. now, shares of verizon are up about 2.5%, yahoo!'s down today by about 1% at last check. well, could an iphone killer be on the way? samsung's new project code named project valley features two new phones with bendable screens. the devices could be unveiled as early as 2017. samsung also making progress in talks with tesla to supply batteries for the automaker's model 3 electric cars as well as its energy storage project. have a look at shares of tesla, up almost 5% on the news. liz, back to you. liz thanks so much, lori rothman. folding like a -- right?
i need it to fold like a newspaper right under my arm. we're closing in on 18,000, we stand at 17,975 on the dow as hillary clinton closes in on her own page in the history books. donald trump faced with a daunting issue. how, even with the help of a lot of billionaires, is he going to raise enough money to compete? john jordan runs a major winery, he's got money, he raises funds for gop candidates. he'll tell us how he feels the trump train can cash in on the gop gravy train. stay tuned, more "countdown" on the way. it's more than a network and the cloud. it's reliable uptime. and multi-layered security. it's how you stay connected to each other and to your customers. with centurylink you get advanced technology solutions, including an industry leading broadband network, and cloud and hosting services - all with dedicated, responsive support.
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in his latest fund-raising message that was just sent out to bernie supporters. here it is. let's make our voices heard loud and clear once more in the six states voting tuesday. members of the media and political establishment may have anointed secretary clinton from day one but we know this race is going to carry on until the delegates cast balt lots -- ballots at the convention in philadelphia. blake burman at the campaign headquarters in brooklyn with details. it is still a showdown tonight, is it not, blake? reporter: it, is, liz. hello from down the street and across the river. you mentioned the showdown, the clinton campaign is being very careful and cautious declaring victory after last night the associated press reached out to about two dozen of the superdelegates to confirm they indeed would be voting for
hillary clinton at the convention in july, thus getting clinton to the magic number of 2283 delegates. clinton and the campaign say yes, there are still six states to vote today. they want to make sure every vote counts. that everybody feels they have had the voice heard in the process but later tonight will certainly be in some form or another, a victory party from hillary clinton, not only marking her potential, at least, celebrating being presumptive democratic nominee, as she described it, a historic moment, being quite possible lit first woman to ever represent a major presidential party. meantime bernie sanders is not backing down one iota. you talked about that fund-raising letter. his campaign is saying after tonight, no matter what happens in california, and that is where he has been today, he has been camped out there a couple weeks now, his schedule he will fly back to his home state of vermont and he will keep on
campaigning. that is zero chance, one of the ways his strategist that he will be dropping out wednesday. he intends to go to d.c. there is still a democratic primary in d.c. next week. white house, press secretary josh earnest has been peppered with questions couple days now whether or not the president would be endorsing and after the ap tally from last night, the press secretary was asked today whether or not the white house feels this race is over and they did not go that far. here was josh earnest from earlier today. >> the white house views the situation as on going. democratic voters in six states are at the polls even as we speak, out of respect to that ongoing process i'm not going to declare a winner from here. reporter: still very much a primary at least in the eyes of bernie sanders what happens happens tonight going forward. i will leave with you this. president obama is expected to be here in new york tomorrow. hillary clinton will be in this
area tomorrow. the white house says though the president and hillary clinton will not be meeting, hence, maybe potential endorsement though they have said the president is kind of getting there at least as it relates to possible endorsement somewhere down the line, liz. liz: we're watching it every step of the way. blake burman, thank you very much. blake in brooklyn. the republicans have their own issues. at the very time donald trump supporters were hoping the candidate would attack the democrat on big issues important to the nation, team trump dealing with controversy over his recent comments about the judge in the trump university case but there is equally big problem that may be on the horizon, raising enough money to take on potential hillary clinton campaign money. the latest federal election commission filing, hillary clinton raised 29million dollars and is very ready to put it to work -- 296. we have john jordan, ceo of jordan refinery.
you've raised money for gop candidates. you're also a republican strategist. are you worried about his ability to raise money? he is a billionaire. he has a lot of billionaires on his side. why are people asking this question? >> i don't know but let's break apart some of numbers. you cited the $296 million that secretary clinton raised. in the reports it is important to understand what you're seeing. most importantly, to see the cash on hand number. her cash on hand number is much, much lower. two, the importance of money in politics in terms of buying airtime, which is where huge percentage of political money goes, really isn't as important as it used to be. there is all kinds of examples. this election cycle about money and huge ad buying just not moving numbers. one only has to look as far as jeb bush, marco rubio and even hillary clinton early on in the primary when she was struggling against bernie sanders who had no money early on. cash on hand number is very important.
the second number you want to look at is the burn rate. how much money are they going through matter of overhead, consultants, office space, staff, to keep the lights on. in earned media, which is free media, social media and so forth which donald trump proved so adept at, proven to be dominant in this election cycle -- liz: in fact he definitely burns his cash at a much slower rate. he has fewer people. he is very efficient whether it comes to certainly running his operation. but let's talk about the people he has on his side. a bunch of billionaires, sheldon adelson, wilbur ross who has been here on the program they're aiming for billion. he is ready to step up. you have got woody johnson, who is big, big republican, ken langone. all of these people are doing this but will it become harder for them as donald trump has said some things that offend even a lot of republicans? and that is calling the judge who was born in indiana, who happens to be assigned the case of trump university, mexican.
he is a mexican. john, even you would say he is not a mexican. he was born in indiana. his parents are mexican. >> he is obviously not a mexican. he is indian nan. he is a hoosier. this whole, this whole incident has been completely unfortunate. it is offensive to a lot of people, myself included but most importantly, in the context of this race it has taken trump off message. it has taken him off what otherwise had been a very good week for him. you had the jobs number coming in as disappointment. gives him opportunity to talk about the economy and issues that matter to every-day americans. next couple weeks we'll have the book by secret service agent shot to number one on new york best-seller list. taken him off messages and got him on defense and wasted week and wasted opportunity for mr. trump. liz: it is california primary day, i know he is presumptive nominee, did you vote and did you vote for him. >> i voted and voted for him. it has been over on republican side some period of time.
what is interesting about california, other programs on the sister network talked about this, 17.9 million registered california voters eligible to vote. in 45 days preceding the cutoff for registration, there were 500,000 new democrat registrants. those 500,000 new democrats do not show up in databases used by pollsters as they have been predicting how california polling, california voters and predicting how california might turn out. if that 500,000 voters is really largely a bernie block, it could really surprise some people tonight. liz: i'm so happy you came on the show, john. thank you. please come again. >> my pleasure. liz: john jordan is a republican strategist, a businessman out in california, voting for trump. by the way who does he think would make a great veep candidate for mr. trump? you see more of my exclusive interview where john jordan articulates exactly what needs to be in that person.
tonight's claman confidential, see it oncolyses claim dot-com. -- lizclaman.com. i will be there with the fox business all-stars until all returns are in. 7:00 p.m. eastern until when it ends, folks, closing bell 19 minutes away. valiant pharmaceuticals need as painkiller right now. it is in a bit of a tailspin after slashing its outlook. this man is probably in a big wave of hurt as well, bill ackman, the billionaire who invested a lot in verily i can't. you have to -- valeant, is it time for investors to lay the blame on his doorstep? charlie breaks it next on countdown. closing the stage
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liz: we've got this breaking news. network equipment-maker f5 networks, just resumed trading after being halted on news pending. lori, the stock is spiking. let's get the nice. >> well, here's the story, liz, according to sources, anonymous sources, f5 hired goldman sachs, to help them. apparently they have been approached for doing a deal. f5 networks has market cap of $7.5 billion. shares up in excess of 12%. they were halted with a gain of 6.2%, volume, as best we can tell, trading two times average daily volume. once again, according to sources f5 networks gone ahead to hire investment bank goldman sachs to advise them as apparently f5 received some deal offers. we don't know a lot of details. we don't know who the potential suitors are. it is worth noting and we're seeing reaction in the shares, news that f5 may be preparing
itself for doing some kind of a deal. we're on it. back to you. liz: lori, thank you very much. we need to get to the valeant news, one high-flyer favorite and now struggling pharmaceutical company, the stock is getting slashed by 15%. the news is not pretty. the company slashed guidance and post ad net loss of $370 million for the first quarter of 2016. in reaction to the report the drug company hit that six-year low, going down even further in very active trade and investors are looking now for someone to really blame. their sights could be set on pershing square's bill ackman, who joined the board of directors in march. charlie gasparino has more on this story. so now it is bill ackman, they're beginning to blame him. >> right. liz: he is now actually on the board, is he not? >> from what we understand, one of the major shareholders dropped out. he is now the leading shareholder of valeant. he owns more shares than anybody else. he was the most prominent one.
he definitely owns more than anybody else. here is the thing. before we go to breaking news on monsanto, i don't want to delay here. liz: right. >> bill ackman has another potential issue to fall this year. valeant is obviously not doing well but if herbalife comes in with a positive settlement with the federal trade commission, as some people expect, i'm not saying it will happen, for all i know they will litigate this thing to death and the stock is going down, if they settle, and positive anywhere near some of the rumors that we're hearing, bill ackman, that is his other big position, that short position in herbalife, the stock will go up in herbalife, he will have a really messy year. it will be his second very messy year in a row. i'll tell you, he has lob-ups. which means you can't pull money out of his hedge fund except for predetermined dates. somewhat complicated formula. if that happens, he will have a real hard time holding on to investors. liz: redemptions possibly?
>> get a lot of redemptions. like i said he has lockups. it is not easy to pull it out. but herbalife does anything like what the rumor mill is suggesting, some marginal settlement, not big change to the business model, i'm not saying that will happen. it is all over the place as far as i'm concerned, but if he has two big implosions, that fund has problems. liz: herbalife climbing back to three-year high right now. >> let's go to monsanto. this is exclusive to fox business point this out, give investors update where the deal is. bayer made $122 a share, $60 billion bid for monsanto couple weeks ago. monsanto said no. they're still engaged and they still want to talk to them. here is what we know now. bayer management is expected to attend a deutsche bank conference in berlin, starting tomorrow and runs through friday where analysts expect there will be some sort of monsanto bid update from management. they will get some sort of
indication where this thing is right now. we should point out as we exclusively point the out last week bayer's ceo indicated in terms of the bid itself, the $60 billion, $122 a share bid he is not prepared to go much above the current deal. not saying he won't go above, he was tampering down expectation this is would be a huge premium they come back. we should point out, here's the interesting thing. deutsche bank is not, not part of bayer's loan syndicate. they recently assembled a loan syndicate, deutsche bank, biggest german bank is not part of it. one reason deutsche bank represents basf, potential competitor. liz: competitor, sure and german as well. >> we should point out this, this is just tea leaves. i know monsanto bankers are working. they're expecting some sort of other bid. whether it happens or not i can't tell you. i'm giving you what i know. monsanto bankers are working
overtime. liz: you they don't want to see the deal fall through and the stock has climbedded -- >> i will say this, look at chart of monsanto. i'm not saying it will happen, but the market is very much suggesting that the deal is not going to happen. the stock is going down. there was a bearish comment in "barron's" over weekend, they basically said investors take your premium now. that had an impact. market is not saying that they have a lot of confidence in this deal, i can just tell you, when bayer is lining up bank syndicate, they're still talking to investors. they will be talking to investors tomorrow. maybe they give us some more hints. i can tell you the bankers working for monsanto are preparing for some sort of second bid coming in. whether that happens or not, maybe this is just due diligence, who knows. just laying out both sides of the facts. but that stock is trading very odd for, for arbs,arbs not betting deal happens.
liz: very good work. charlie gasparino. we can see we're getting further from dow 18,000. could it turn around in the next eight minutes? we're at 11,942 after crossing the -- 17,942. after crossing the 18,000 seven times today. dow hitting two major milestones but will momentum last as the lays did i days of summer take hold? what you need to know and how to keep the sunshining on your investments. the guy who told you a while ago to buy entergy and was right -- energy, and was right, has some ideas.
today that it has seen 18,000 or more? market rally due in part to oil closing above 50 bucks a barrel for the first time in nearly 11 months. let's bring in a guy that really liked energy last time he was with me on the program, ross gerber. you made a great call couple months ago, saying go with energy. you love tech, you like tesla but now you love retailer which i find interesting. let's talk about under armour with just a couple minutes left in the show. >> well i don't look at them per se as retailer. but we love the sports business right now. and with, you know the olympics around the corner and of course steph curry dominating basketball, they have a great roster of athletes and great products too with their global expansion and expanding into women's clothing we really like this business and it is very well-run. >> isn't it?
do you think they could take over nike and their business. they are gutsy. >> apple watch the way it works with apps like under armour apps they own, coordinating not just the clothing you buy by the lifestyle they're building around under armour, they are a well-run company. they can grow and grow to the sky. nike, sports is a three-player business. you have adidas, nike and under armour. nike is the monster and under armour is growing like crazy. liz: baseball, basketball. hockey too, i don't know if they're in the under armour part of it. ross, we're looking at a market 32 times crossed 18,000 today alone. we're not there yet. what message is that sending you as pretty knowledgeable investor. not ready for 18 at the moment? >> no. i think there is a lot of this
negativity still tamping down expectations and such and while the market itself is like wanting to burst higher, that is the way it feels to me, there is this force, few things at market. we'll move substantially higher to break out causing shorts to cover or we'll continue to meander but we're actually kind of bullish because of energy. liz: energy names you like. we put them up on the screen. why you still feel that high oil is higher at $50 a barrel and energy is some great place because since february we've seen more than doubling of oil? >> you have got to be in energy. whole premise at earlier in the year total collapse. i saw a tweet from the permian basin, adding rigs. seeing price, whether 50 or 60, is not detrimental price to the
markets. we'll see upward revisions from the oil companies. liz: ross gerber, from gerber kawasaki. we're kind of close to the session lows for the dow. closing up at least for the moment by 22 points. we had been up from the lows by about 15. not a bad day for the bulls. david and medical list pick it up here for "after the bell." melissa: stocks ending the day mixed but the dow did see 18,000 although it couldn't hold it which says a lot. s&p climbing closer to all-time high. david: i'm melissa francis. david: i'm david asman. this is "after the bell." here what we have at this hour. we're hours from results that will have major impact on the democratic presidency. after tonight we may see the first presidential pmp