tv Countdown to the Closing Bell With Liz Claman FOX Business August 9, 2016 3:00pm-4:01pm EDT
tonight, i'm going to be hosting for meg been kelly again -- megyn kelly at 9 p.m. be eastern on "the kelly file." we had some lively debate. evan mcmullin was on last night and, of course, steve moore, talking about trump's economic policy. liz claman, over to you. liz: thank you so much, trish are. look, you guys, if ever the economy and the stock market diverged, it might be right now. if you are in stocks, your most likely making money. the s&p 500 and the nasdaq hitting lifetime highs. the nasdaq is still there, but even after multiple records so many of you do not feel the money love. why? we have four separate experts about to tackle that for you. and speaking of love, it's been 24 hours since presidential hopeful donald trump laid out his plan to make america great again. while some high finance people love it, already some of the most respected names on wall street are raising red flags. so katrina pearson, trump campaign national spokesperson, addresses the how to pay for it
elephant in the room in just moments. you can't miss it. and denials from a billionaire investor abounded when charlie gasparino reported months ago that valeant would have of to sell top assets to pull itself out of an acid pool of debt. well, now we know bill ackman's fave stock out with a miss on earnings and a promise to sell what it can to make year-end targets. charlie gasparino has exclusive details. yes, charlie was right on valeant. is the delta disaster over? and guess who's making off valentine's day? plus, will "sportscenter" be the key to disney scoring an earnings home run? we're less than an hour to the closing bell, let's start the "countdown." ♪ ♪ liz: the battle is raging at this hour on who has the better economic plan, donald trump or hillary clinton. and right now the markets
themselves are witnessing a full-fledged bull/bear battle at the nasdaq, and the bulls are winning by a whisker. lifetime high for the nasdaq. the number to watch is 5221, the names getting long in the tooth are winning today. first, amazon. the retailing giant hitting a lifetime high today as investors seem to be getting behind the company's shift to becoming an infrastructure company, not just let me buy duct tape overnight. because i've done that. [laughter] the kids need duct tape. shares right now are jumping to $768.32. the number to watch, $767. that is the number one, all-time record high. google's parent company, alphabet, also hitting a lifetime high powered by a surge in the nasdaq. the tech giant's gain has made the combined net worth of larry page and sergey brin about $81 billion.
right now those shares are up just under half a percent. and finally, microsoft hit a 16-and-a-half year high. the shift to cloud computing has been such a game changer for the company, although you could argue the new ceo has been the guy. not so new anymore, he's just made this company gel. right now company shares $58.15, the highest since the year 2000. to politics, let's take a live look at pictures of republican presidential nominee donald trump who right now is speaking at the university of north carolina in wilmington, north carolina, right this moment. the billionaire businessman zeroing in on the economy this week. vowing to jump-start the growth here by, quote, making america grow again. mr. trump promising reduced tax rates for most americans, most dramatically cutting the tax rate corporations would pay. but the hillary camp says, not so fast. democratic nominee hillary clinton pouring scorn all over trump's economic plan, calling it, quote, put together by six men named steve all trying to avoid paying their fair share.
fox business' blake burman live in washington, d.c. with the very latest on them sparring over economic proposals. and, blake, hillary will, of course, give her economic speech thursday, so she'll get scored too. but for now the fans, critics and economists are working off trump's plan. when he first started his run, he said wealthy people like himself would have to pay more. he's now cutting wealthy's rate among other plans what kind of attention is that getting? >> >> reporter, well, a couple of donald trump's wealthiest backer appear all for it. in the last 24 hours or so, steve forbes, carl icahn have thrown their support behind transfer's speech. his initial top-end rate for individuals during the primary when he was run anything the republican race, that was a 2. now it's -- 25%. now it's up to 33%. however, that is still below the near-40% rate that is currently on the books. as for trump, the candidate himself, you just mentioned it, right now he is holding a rally in north carolina, and motion moments ago he told his
supporters that the focus of his tax cut plan really on the middle class and on businesses. watch here. >> the thing i'm doing, i'm cutting taxes big league -- [applause] especially for the middle class and especially for businesses. [cheers and applause] because businesses are dying, and that means small businesses. businesses period. >> reporter: back to icahn here for a we could. the billionaire investor released a statement saying trump is right about our economy. here's what he put out about an hour ago. quote: i never thought i would say this, but we cannot blame even mediocre ceos for not investing when they have to face regulators that are scaring the hell out of them. instead they borrow at near-zero interest rates and buy back stock. the fed will just keep lending money at zero interest rates until the bubble bursts and we go over the proverbial cliff. that from carl icahn a while ago. trump said earlier today he feels 4% growth would be easily attainable under his plan. liz: yes.
and we should mention carl icahn is going to be on risk and reward at 5 p.m. eastern. blake, thank you. and coming up, katrina pierson, who is the trump campaign national spokesperson, is going to be joining me. and i'll ask her some of these questions. so you need to stay tuned for that. who does wall street trust, though, when it does come to the economy? well, let's bring you all the experts from three major trading floors. traders at the new york stock exchange, cme group and the nymex. you guys deal with numbers. you have all collectively been on trading floors if we added it up something like 90 years. so i'll start with you, tim anderson. when you were looking at donald trump's plan -- and i'm sure you were eager to hear hillary's as well -- what was your first thought? >> well, the first thought was that cutting corporate rates by, down to 15% is a huge plus for the economy, for job growth and to get us out of this rut where we're only running like 1-2% gdp per year. liz: larry, you guys over in
chicago know that the more you spend, you've got to bring in more than what you spend, right? you've got to be able to check and balance here. larry, what did you think of it? >> well, it's hard to describe, it's hard to get your head around, because it sounds really good in the headlines. when you read below the surface, it's really not doable. i mean, we just can't take away that much revenue from the government and operate a leviathan like we do right now. everybody wants a small government that, you know, is streamlined, but we need be income to make that happen. so i think cutting corporate taxes so drastically, first, will never be past and, second, so abrupt to the system i think it would be very dangerous for the stock market, to say the least. liz: one of his plans involves energy and really kind of dropping a lot of regulation on the fossil fuel industry, elliott. that's your department over at the nymex. what did you think? >> well, what i think, actually, is that, you know, the trump
plan has a few unrealistic issues. the 4% growth really is a big assumption, i think. i do like one thing about it though. the repatriation idea and giving guys with money parked offshore a chance to bring it here at a significantly reduced tax rate, i think that might entice some people to bring money here. i think for the most part his plan is not sustainable, i don't see it. you can't cut taxes and assume that growth. liz: you're saying smoke and mirrors. back to you, tim. to elliott's point, when you talk about repatriation, we have done that actually in the past, and one of the problems was say, for example, tbiezer, when they brought -- pfizer, when they brought their money back, they laid off a lot of people, hundreds and hundreds of people. so do you think that there needs to be a caveat in there or some kind of promise that you can't lay off people, you've got to actually put it back into the business in. >> well, clearly i think any, any company that's going to bring back money from overseas and allegedly there's $2-$3
trillion overseas that could be repatriated, if they have a positive business environment and a positive growth message for the economy, they're going to want to invest that money, not just put it in short-term debt or even ten-year notes and get, you know -- liz: fine, but not -- >> -- very small rate of return. liz: but not lay off employees. that's what we don't want to see. >> correct. liz: the nasdaq's holding, larry, what do you think is really driving this on a day where we don't have too much information? second quarter productivity was not a good number. it fell for the third cop sective quarter, so -- consecutive quarter, so i don't know what this market is moving on, but the nasdaq is pretty much at a record to. >> yeah. and you've seen that since the beginning of the dog days of summer, july 14th. the nasdaq has done very well, outperforming the s&p 500 by almost 2%, i think. what we're seeing is just a massive rotation out of
defenses, into electrical -- cyclicals, and basically, you're right, the product bivity wasn't there, it hasn't been there. earnings growth, i mean, the we're at an inflection point in the economy. yes, this earnings season was slightly better, but there's generally no earnings growth anywhere. we also have wages rising -- liz: okay. >> i don't know where it's all going to end up but, yes -- liz: i would have said oil was rising because, elliott, earlier it was, but before that it was dropping, and now it's dropping again. there's very choppy trading in oil right now and, i'm sorry. you know, opec's big attempt to say that they would find religion and start cutting, that fizzled. what will drive this market higher? >> you know what? i think -- [laughter] there's always somebody who doesn't get the message, liz. [laughter] we were looking near record or storage -- liz: look at this intraday. this is crazy. all over the place. >> i think that crude, every rally in crude, i think, is a selling opportunity. i told you to look at natural
gas last week. it's down big today. there's a lot of reasons to hate natural gas. i mean, you know, technically that market is a sale and fundamentally there is bullish news. hot weather will keep gas up -- liz: downpour for nat gas. >> i would sell crude here too if i had my druthers. [laughter] liz: but you don't. you guys, thank you so much for playing in and weighing in. we appreciate it. we'll ask you, too, about hillary's plan be, fair and balanced. tim, larry, elliott, good to see you. do not deirdre bolton's interview with carl icahn, fisk and re-- risk and reward, 5 p.m. eastern, and how he believes trump's economic plan could impact america. closing bell, 49 minutes away. the dow is pretty much flat. the index to watch right now is the nasdaq, at lifetime highs right now but just by a whisker. and delta reeling after yesterday's service outage. hundreds more flights delayed.
upwards of another 530 canceled. refunds and vouchers being offered to all passengers who were impacted by this technical and a snafu. as, of course, the ceo apologizes, delta's tock down half a percent. just 20 president to $-- 20% though. from the skies to the oceans, norwegian cruise lines getting crushed after cutting its quarterly and full-year outlook. weak demand in u.s. and europe to blame. shares sinking 10.5%, that could mean discounts on cruises. call your travel agent. and it didn't take long for critics to pounce on donald trump's economic plan. hillary clinton supporter gene sperling saying this here on countdown yesterday -- >> i don't know whether his first plan or his second plan will win the gold medal for which is the most regressive and most contributes to income inequality, but it'll be a tight race. liz: well, katrina pierson, trump campaign national
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how's he going to pay for this plan, you know? according to my calculations, this is going to at least double the size of the deficit. liz: so that was not a political operative from the other side, that was byron lean of blackstone, one of the world's most widely-respected gurus reacting to trump's economic plan. that question is being asked by many outside the political world. here to answer those questions trump national campaign spokesperson katrina pierson. hi, katrina. >> hi. great to be here. liz: all right. byron is not from inside the beltway. he's a numbers guy, six decades of financial success. if he were standing in front of you asking how is donald trump going to pay for the plan, what is the answer? >> well, look, i would simply say that this was one speech that's going to be followed by a series of speeches that will be addressing that question. but even if you look at these particular policies that mr. trump has spoken about in the past, he has talked about cutting waste, fraud and abuse
which i know isn't a ton of money, but we do have to start somewhere. but then we also look at some of the money that's renegotiated with some of the trade deals. and when you look at the number of jobs we're talking about increasing revenue, that turns into a big number, liz. and we have to keep in mind, you know, in elections past we've had all these promises to do certain things with the economy whether it's taxation or regulation, and things have just progressively gotten worse. now we have a candidate that actually has a vision and who's going to be strong enough to fight for it, i think that's really important. particularly as we've seen with president obama and hillary clinton where the economy is today. and i think americans are going to have to ask themselves do they want a third term of terrible growth, taxation, no jobs and moving forward what else are they going to do with regulations? liz: well, let's just be clear, there has been job creation month after month, quarter after quarter, but as a business
network it is our job to press for detail. trump wants to drop lots of owner regulation that's choking wiz. i personally -- business. i personally could not agree more. regulation like a weight on the chest of anybody who wants to even start a business. but beyond saying he would cut regulations that were non-safety relates, how is he qualifying the benefits versus the cost? >> well, if you look at -- let's start with the regulations, because we're talking about regulations that we're facing today from, you know, walking into your local grocery store to the food that your children are allowed to eat at school. not to mention obamacare which was something that was left out that we do know causes a ton of burden on businesses. and when we look at the cost, i mean, we have -- we are spending so much money right now, and you could actually start with tom coburn's last waste book that he published before he was leaving office. i think that's a really good point -- liz: hold on, i want to get to
obamacare in one second, but we do have breaking news. donald trump has just now agreed to three presidential debates with hillary clinton. three debates. katrina, that was a question as to whether he would because he was balking about two of them, saying that they were conveniently scheduled at the same time as nfl games. but the nfl's schedule came out well after the presidential debate. what do you think about this change of heart? >> well, the reason why mr. be trump spoke about that is because when you look at the nfl commission, you do have hillary clinton individuals on there. you know, this was scheduled on days that are questionable when it comes to nfl games. but the reason why mr. trump has accepted to move forward with this schedule is because he's very serious about going up against hillary clinton and talking about the differences between what a trump administration and new vision would look like versus the campaign of the old times, politicians being all talk and no action. liz: you had mentioned obamacare. with a republican-led congress,
he probably could get that repealed. who thoughs, but that is a possibility. who knows, but that is a possibility. if so, katrina, you would still have a lot of people wake up the next day up insured, they would find themselves uninsured again whether they are kids up to 26 years old who are on their parents' insurance or people who had pre-existing health problems. what is donald trump's answer to something like that? >> well, again, this is something he's been talking about on the trail. this was handled very inappropriately by the government to begin with. if we want people to purchase insurance, we should, a, make it affordable and, b, make it accessible which means you have to lift those restrictions of purchasing insurance across state lines. look, i spent 14 years in health care. i know exactly the burden that is put on people. one person in texas could purchase exact same plan from blue cross blue shield in florida, and it could be up to $5,000 difference. this is the debate we need to be having, what to do moving forward.
and in order to do what's always been done is to stick with what porks, and if you're going to be in the marketplace, it's got to be competitive. liz: i have to ask you about the corporate tax cut, and that would be the biggest. of course, that immediately, instantly makes the u.s. much more attractive for domiciled companies, meaning they would move their headquarters here versus the other way around, and yet donald trump has said he would punish companies that left to go start their headquarters somewhere else. that, katrina, is straight out of president obama's book. president obama has said the exact same thing. saying, you know what? we're going to make it too hard for companies to move their headquarters out of this country. so how is trump any different from president obama on that level? or does he simply agree with him and say, well, that's one thing i agree with the president on? >> well, there's a huge difference, liz, and that is the fact that donald trump does not want to punish success, and that's what we have right now. and that's what hillary clinton wants to continue doing.
that was really a message to the workers and to the employees so that they know they will have an advocate for them in the white house -- liz: but if democratic -- >> [inaudible] >> liz: you have to admit, it kind of is out of of the democratic playbook. >> i wouldn't necessarily say it's out of the democratic playbook. it is mr. trump speaking to the workers by saying i understand, i hear you, and i'm going to make sure we keep as many jobs as possible here. but it won't even be an issue, because the tax environment's going to be favorable to success. liz: we shall see. and i know a lot of corporations love that part of it. katrina, thank you very much for joining me. >> thank you. liz: katrina pierson, trump campaign national spokesperson. and as we look at the big board, we do have the dow down three points. but, again, i will say it's really the nasdaq that we've got to be watching here. at that level right now, 52.24. we are two points above the nasdaq all-time high. we could see it again this hour with only 37 minutes to go. you've got to stay with me.
and happy valentine's day. in china, that is. the world's second largest economy celebrating its version of the holiday right now, and one major retail stock has its heart set on big profits. but it was a different story for luxury giant coach, just missing estimates for sales despite the bump of 2% in america. its first quarterly sales rise in the region, three years in the region. coach shares right now down 2.5%. come on, somebody buy those purses. and it's easily one of the most widely-held stocks on the planet. disney earnings taking center stage after the bell today, but will it add any magic to the second quarter scorecard? ashley webster crunching the numbers. stay with "countdown." ♪ ♪
austin wants to know where his roses are. please go do beijing. one company is viewing the world with rose-colored glasses. chinese e-commerce giant alibaba seeing sweet return thanks to china's valentine's day, which turned into this megaonline shopping holiday. sales of roses may reach eight million yuan or. that may not say much but, u.s. valentine sales 1.9 billion. china's sales, have jumped expo nextly. alibaba trying to send a note to cops doing business in china. regulations over tech continue to grow. china makes it very difficult for companies both here in america an elsewhere to start up in china. so, alibaba says, let us help, for a fee. the new program already has 11 companies on board.
soon hopes to add more. alibaba $85.52, up 2/3 after%. trading volume, 12.7 million shares. all the naysayers says this quarter's earnings season would be awful. nearly 90% of the s&p 500 companies have reported, how did they do? guess what? more than half of them beat what analysts thought they would do on both revenue and earnings per share. ashley webster in the newsroom to break it down if it is indeed good news? reporter: it is good news. i guess you could say how low did they set the bar. an ant could jump over the limbo stick as they say. liz, let's take a look. 62% have beat the estimate, the street estimates for eps. 30 missed and 8% met. overall down approximately 4%. if you take out those energy companies it's a lot better than previously thought. now on the revenue side, 51%
have beaten as you can see there. 49%. down 1% overall though but we did have a low bar. both earnings and revenue better than the first quarter although the first quarter of the year was pretty miserable. it would have been not that hard, perhaps to beat it but what we can say is modest improvement, liz. that is the way we put it. solarcity, disney after the bell today. liz: disney masks sieve. reporter: huge. liz: tesla acquisition we'll see. ashley, thank you very much. reporter: thank you. >> solarcity down a quarter of a percent. closing bell, we're now 29 minutes away. now this is a bit of a comeback. valeant investors on a high after the embattled pharmaceutical giant reaffirming the full year outlook, but the drama for billionaire investor bill ackman far from over. new information on the wrong way
bet that they won't let go of. charlie gasparino has the biz drama coming up. battle for the white house playing out on social media. donald trump firing back at naysayers in his own party, forget the democrats. taking to twitter with these words. i am running against the washington insiders just like i did in the republican primary. these are the people that have made the u.s. a mess. is the outsider strategy enough to win over voters even now as sixth gop member of congress says never trump? kelly and david mercer raring to go on all things 2016. "countdown" coming right back. nasdaq up 11 points, folks. that is a lifetime high.
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millions and millions of votes, yet republicans keep trying to eat one of their own. the day after 50 of the nation's most senior republican national security officials penned a letter proclaiming that not one of them will vote for the republican nominee because he is quote, reckless and irresponsible, more gop support is heading into hillary's camp. former ceo of mgm, harry sloan a notable republican donor, who served on both finance committees for the past two republican nominees, is putting his cash behind the democratic nominee instead. but trump supporter former new york mayor rudy giuliani says, doesn't matter. this only proves trump is the outsider candidate so many voters have found appealing. >> these are all the people who have been running policy for the last eight, 10 years, and, 12 years, american people have to deliver a judgment on that. they say america is headed in wrong direction. these are people who headed it in the wrong direction. liz: kelly ridel, "washington times," david
mercer, democratic strategist joining us now. kelly, no doubt, donald trump doesn't care what 50 people in d.c. or who served in administrations that got us into the iraq war say or do at this point but what amazes me is, that republicans have an opportunity, at this point, to maybe regain the white house, and they are not supporting him. why not? >> well, i think they want to protect all these insiders, want to protect their power and privilege. liz: many of them are not even in government anymore. they are at think tankses. >> but think tankses get money fund-raisers, get money, it is a political cycle here in d.c., us who live here know about it, there is insider class that donald trump from day one run against. what i find most disheartening is that the fact that these elites, they had their candidate in jeb bush, or in marco rubio, and donald trump easily defeated them. jeb bush hat $100 million behind him.
at the end of day three delegates to show for that. there is huge messaging gap between the elites and the base. the base has left the elites. the elites, they haven't discovered that. they haven't grown wary of that. and are reconciling their policies to meet the base. liz: i'm sure david has completely different take, it is hillary's policies attracting republicans. i'm not so sure, david. i think it is just they feel extremely uncomfortable certain things in the past donald trump has said. maybe he has now changed, with this new economic policy plan that is out, some of it is very popular. what is hillary going to do to keep her trajectory going in the same direction? >> well, her trajectory is going in the same direction and, we also see trump's going in his direction which is down, down, down, much like a sinking ship. why you see some defections, is because it is not a ship that is off course. this is a ship with holes in it. and donald trump has nothing to
offer either in his record or in his plan, which was very broad, shy on specifics, as to how he is going to raise the income of the middle class american, so that they can afford college for their children. liz: if you understand, david, what has been going on it? exactly working for the middle class. the wealth gap has gotten bigger and bigger. kelly -- >> if i may speak to that. liz: go ahead. >> if i might say that to that liz, the wage gap between productivity and wages has been wide and a big gap over the last 30 years. liz: talking about the wealthy and middle class. >> we've seen 2.3% rise in income from last year. so we're seeing that increase, but republicans might want to raise the minimum wage as democrats have advocated for years. liz: what about that, kelly? donald trump says by conduct the corporate tax rate, that is certainly sort of supply side or some call it trickle-down economics.
the poor, who donald trump has some segment of the less wealthy certainly, but he doesn't have poor minorities, they're wondering do i have to wait and see if my boss is going to pass down the savings of a corporate tax cut to me? >> this is where the washington elites help would be great because donald trump's tax plan resembles that closely the house gop republican bees put forth. we need to see how growth through gdp stronger than this 1.2% we have right now into the 4%, will trickle down and help. all hillary clinton is doing redistribution of wealth that actually hurts middle class. that actually hurts the people on low of the rungs of the ladder. liz: david. connell: quickly, how is hillary clinton going to battle very popular tax cut for a lot of segments that donald trump is offering? her speech is. >> remind people when tax cuts with two wars on two fronts. >> bigger deficit.
go to the state of kansas and look at governor brown back's plan. first on promises -- >> 70% of the americans don't think we're on the right path. they think we're headed down wrong path. that is repudiation of president obama and hillary clinton's policies. >> okay. we'll see. liz: we shall. kelly, david, we'll put you both back. i appreciate the lively discussion here. it is never ending, as the closing bell is about to ring. that will end, 18 minutes. look at dow, just flipped over, to positive territory by only two points. the nasdaq, yes, folks, you will witness if you stay with me or the next 18 minutes, if it stays here, a record, a lifetime high for the nasdaq on a somewhat slower august day. no it is not slow at all. after a spectacular fall from grace, once high flying company still drowning in debt, still has billionaire investor bill ackman working to keep it afloat. valeant pharmaceutical's stock
has its head above water this hour after one good piece of news. guess what? charlie gasparino called it all along. charlie charging down the hallway. come on charge, charlie. [laughter] he is coming in to talk about what could fire up the banking sector too, and another story. he has double fisted stories. don't go away. you both have a
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standing at $28. pharmaceutical company, once a high-flyer boasting higher loss. valeant reaffirmed guidance. it will reorganize, sell off assets to pay off massive acid pool of death. how dramatic is that. acid pool of debt. >> that is contradiction. liz: not funny. this company lost the 0% of the its value. looks great today? it was $235 over the past year. $235 a share. right now, 28. you could argue a good day finally for baby buffett, maybe. bill ackman nowhere to be seen throughout his key investment skyrocketing. man at head of the story from the beginning, sitting ahead of me. charlie gasparino. your take. >> we said at beginning everything was on the table. liz: including selling assets. >> including their crown jewel, bausch & lomb. when lehman brothers was going
down i was first to report, neuberger and berman, asset their crown jewel was on table. everybody denied it. it was obviously. this is too. finally we have reaffirmation of our story that was denied by cnbc. this shows you how you can not trust cnbc. scott wapner gave the microphone to bill ackman, where he was basically urinating on our story, which turns out to be 100% right right now. liz: i think i saw because i watch both, because you know, listen, they're our competitors. >> right. liz: they had a big thing on the screen said 8 billion in assets. >> what are they going to sell 8 billion? there is not a lot worth 8 billion. liz: months after your stories. >> right. you can sell a couple piddly things and get a couple billion, if you need eight billion, only thing they can sell worth 8 billion is bausch & lomb. it's a pretty good asset. will they sell it. but i can never tell you. it was on the table.
it was on the table when we said it. on the table when cnbc misreported it. scott wapner did not do a good job reporting. bill ackman, largest shareholder denied it, said it wasn't on the table. it was always on the table and still on the table if they get the right price. the problem they have on fire yard sales you can't get best price. liz: they know you're desperate. >> that they always underbid. they probably should have sold it back then when they first started thinking about selling it and not waited so long. they probably listened to ackman, put it aside and not actively shop it. but now, they might not have any choice. this is a heavily indebted company, with a business model essentially blown up. the old business model, which involved, basically selling high-priced drugs. that's what it was. it came under a lot of pressure. liz: bought stock closer to $100. >> what is his average cost? liz: i think 96 to 100. >> where is the stock trading
at? 26? this is not good year for him. ackman has taken a beating on valeant. taken a beating on herbalife which he continues to call and pyramid scheme which the ftc has not shut down. they found some problems. we'll keep you abreast. liz: you have something else. >> this is wall street show. we talk about wall street players. joe per rellow, one of the biggest players on wall street, runs pirello and weinberg. abu teak investment bank. one of the best bankers in the world. ran it at morgue doctoring morgan stanley. he is still in talks to merge with another firm. texas based firm tudor pickering. they are still in talks to merge this thing. it is ongoing. there is some disagreement over price. tudor pickering wants more cash. liz: don't we all. >> one of the problems is, i
think that, this is some of my surmise, there is not a lot of cash to be had right now. pearl weinberg, investment banking isn't doing great. not only that, they're he embroiled with lawsuit with michael cramer. liz: the guy who exited. >> guy who exited sued them for like $100 million. where are they going to get the cash? this is developing story. we'll keep on it. both sides have no comment but we have this confirmed talks are ongoing. liz: thank you. charlie. he was right on valeant. dow middling through the lazy days summer, up 3 points. should you look through 30 windows or 500 windows when it comes to see what is up for your investments? s&p's erin gibbs has her expert take on the dow versus the s&p. where you should put your eyes and money to work. countdown coming right back.
♪ liz: in these last five minutes we want to help make you money, so we asked this question, everybody talk about the dow. is there danger with the dow? the s&p 500 and the nasdaq both hit lifetime highs today. nasdaq still there but s&p i.q. chief investment officer erin dibs suspects something about the blue chip index you may not know. she is here now. what don't we know about the dow? >> basically thes have twice the weight of industrials versus a broader ben mark like the s&p 500. industrials are not doing well, expect them not to do well the next six months. essentially flatter earnings versus the broader market. s&p 500, more exposure to health care, technology, consumer staples, sectors growing faster and cheaper. liz: let me push back, i have cisco, apple, microsoft.
microsoft at highs it hasn't seen since 2000 today. i know they're industrial in a way because they make stuff, why would you say stay away from that? >> so, one, they're the slow growers in information technology. there are a lot of better opportunities when it comes to that. we're talking old school technology, cisco, microsoft. you get a bit more growth and better valuations looking at a broader index. yes, there is exposure to technology, there is exposure to consumer discretionary. i'm not saying there isn't any, but you get more and tend to get better values. liz: you say look through the 500 window? >> yep. liz: better vision, not the 30, because that is diminished. i'm dying to knee give us names. here we are in the midst of august. people are saying if i wanted to put a little money to work, where should i do it? >> i'm focusing on information technology, apple. i know it has been been beaten up. not anybody's favorite right now, but that actually makes it a great value. they're coming out with the
iphone 7 in september. liz: down 4%. >> when they get a new release, that typically picks it back up. they have $29 per share. connell: liz: i like gilead, byron wien blackstone said buy unloved stocks. it is down 33% yet a dividend of 2.3%. >> we see negative comments about shorters, basically cycles for treating for hep-c, some competition from merck. there is a lot of negative news. it is unloved but still has some great growth and we love that stock. liz: i'm waving my arms because erin says, this is her outsider favorite, sprouts. >> sprouts farmer's market. a little smaller than what we talked about the other two but it produces very high quality organic food but at a discount. they had phenomenal growth.
opening new stores this year. looking 15% revenue growth. still trading below their peers. we love the health food and this trends. liz: love the health yo further and chocolate -- yogurt. erin gibbs, s&p market intelligence, h chief investment officer. we'll put her picks facebook.com -- sris claim -- liz claman. will nasdaq hit a lifetime record. 52.24. that is about two points better than the previous lifetime record. here comes the closing bell. as i leave you with that. [closing bell rings] david and melissa. pick it up here for "after the bell." melissa: stocks fighting for gains as the closing bell sounds on wall street. nasdaq still managing to eke out a new record high. welcome, i'm melissa francis.
good to have you back. >> thank you, glad to be back. i'm david asman this is donald trump and hillary clinton neck-and-neck in two key swing states. of the a new poll you haven't seen yet. hillary clinton slapped with a lawsuit from parents of two the benghazi victims. judge andrew napolitano will join us to break down the case. what it means for her campaign. fish versus football. will disney's box office hits be strong enough to combat espn's declining subscribers? we've got disney's third quarter results out any moment. melissa: let's hit the markets. the dow barely positive for the day. disney a big dow winner ahead of earnings this hour. phil flynn, price futures group is a fox business contributor. he is watching all the action in oil at the cme. lori r