Skip to main content

tv   Countdown to the Closing Bell With Liz Claman  FOX Business  August 25, 2016 3:00pm-4:01pm EDT

3:00 pm
fires back at him. of course, she's got a lot of explaining to do when it comes to that clinton foundation. she's already attempted that, as ahas her husband in -- as has her or husband in recent days. liz claman is going to take you into that right now. liz: right. donald trump just finished, trish, hillary clinton's about to begin. we will listen in when she begins to speak, but we're talking major mud-slinging on the campaign trail at this hour. donald trump, you heard moments ago, saying hillary clinton has, quote, betrayed the african-american community. reaching deep into the democratic playbook to paint decent americans as racist, trump just wrapped up in manchester, new hampshire, getting ahead those few shots ahead of hillary clinton's big speech in just a few minutes. you're looking at live pictures from the red mountain building student center in reno, nevada, where hillary clinton will give that speech. it's being billed as an attack on the, quote, alt-right.
3:01 pm
clinton working to appeal to conservatives. former governors jim hodges and dave heineman, a democrat and a republican, here to break down the back and forth in the race for the white house. the embattled ceo of mylan, the maker of the end epipen, claiming she's more frustrated than anyone in paying for the life-saving epipen, the company offering coupons for consumers rather than slashing the actual price for the crucial device. investors not impressed with her explanation at this hour which involved blaming insurance companies and pharmacies. mylan initially spiked this morning, now it's falling one and a third percent. a fox business exclusive coming up, the mylan spokeswoman who quit her job last night over these price hikes. is she now satisfied with
3:02 pm
mylan's coupon offering? we will ask her. wall street is watching wyoming, jackson hole, to be exact, doesn't look like a lot of activity right there, but guess what? we've got the fed president there who may give the best hint yet. day two of tentative jittery trade, the dow jones industrials down 42 points. lots to go here. we are less than an hour to the closing bell, let's start the "countdown." ♪ ♪ liz: so when you see that the dow is down 42 and the s&p's lower by 5, that's the markets holding their breath ahead of the big kahuna, and that would be janet yellen, the head of the federal reserve, and her speech that she will give tomorrow. everybody thinks she's going to reveal some detail about when we will see the next interest rate hike, but million then, markets are in -- until then, markets are in the red. dollar tree and dollar general both reporting lower than
3:03 pm
expected quarterly sales. the discount retailers blaming growing competition and reduction of food stamp coverage. so shares there are moving lower, dollar tree down nearly 10%. dollar general getting really hammered here, down 17%. and it's hard to go at it alone. hp, the hardware printer and pc business of the former hewlett-packard reported earnings shy of analysts' estimates. what's the problem here? weak sales of printers paired with cost-cutting measures. never a good mix, so that stock just about flat to slightly lower. to nevada, live pictures from reno where hillary clinton is about to re-emerge on campaign trail after several days off fundraising. she's about to take that stage to launch what we expect to see, and that is the latest verbal grenade at the republican nominee. she's taking on donald trump's embrace of the alt-right, the ultra-anti-establishment conservative voters as their known. the intent is to try to prove to
3:04 pm
the center-right republicans trump will never stand for, quote, true republican beliefs regardless of his attempts to try and soften his views on immigration, and he also has said he regrets hurting people's feelings. blake burman, look, we'll keep an eye on the hillary stage right there, but tension has been ramped up as hillary's appearance appears to coincide with this release of a new attack ad that shows white supremacists endorsing donald trump. >> reporter: that's exactly right, liz. if we needed a reminder there's only 75 days until election day, you got it today because the race elevated to a different level on this day. hillary clinton's campaign, they put out a web ad earlier today that used images and words of members of the kkk, including david duke, along with a self-described white nationalist, and they touted their support in that video for donald trump. the video also depicts trump's new campaign ceo, steve bannon,
3:05 pm
as a sympathizer of racism and neo-naziism. that video is coordinated with a speech that clinton is about to give any moment now, you see the stage there, in which she will try to tie trump to what's known as the alt-right movement which critics contend aligns with white nationalism and elements of extremism. donald trump just wrapped up his very own rally in new hampshire this afternoon. take a listen here, this was the reaction that he gave in that state. watch. >> they are left with only this one tired argument: you're racist, you're racist, you're racist. they keep saying it, you're racist. it's a tired, disgusting argument. >> reporter: now, liz, this speech from hillary clinton and her campaign video, they come as trump tries to reach out to african-american and hispanic voters and as he reworks his immigration plan. liz: blake, thank you very much.
3:06 pm
by the way, we're going to have complete reaction of hillary clinton's speech as soon as she delivers it. former governors jim hodges, he's the democrat there south carolina, and dave hine match, the republican from nebraska -- heineman, joining us to weigh and break down these newest attacks which appear to have real mud-slinging at the center of both of them. to the controversy sweeping the nation, mylan in damage control mode, finally making a move regarding its high price tag of the device, the epipen, that costs $4 to manufacture. but did mylan control the damage? in the wake of outrage over 17 price hikes of the life-saving epipens which spiked from $57 in 2010 -- 2007, rather, to as much as $700 for a pair today, the company announcing it will offer a savings card type of coupon to some patients that will cover up to $300 of the epipen two-pack price tag. to be clear, the company is not lowering the price by a single dollar.
3:07 pm
mylan's ceo today blaming the system, blaming insurance companies and the affordable care act for the price hike. she's reportedly said she'd a mom, and she's frustrated. the bad press pile-on continues. actor sarah jessica parker whose son suffers from a peanut allergy has resigned saying, quote: i recently learned that the price of the epipen has been systematically raised by mylan to a point that renders it cost prohibitive to many people. >> she doesn't condone the decision, she's ended her relationship with mylan as a direct result of it. before sarah jessica parker resigned, my next guest, a mylan spokeswoman, quit her job. kelly, mother of five, has been watching and apparently couldn't take it anymore. last night she sent her resignation letter to mylan. now former mylan specialty
3:08 pm
spokeswoman joining us now in a fox business exclusive. kelly, you resigned last night. today they've announced they're going to give coupons and try and shoulder some of the costs. did you quit too soon? are you satisfied with the company's moves? >> no, i'm not. this is not nearly good enough. we need a stronger voice on this. a coupon's just not enough at this point. it's too little, too late. heather needs to step down. we need to do damage control on this. she owes a stronger explanation to consumers who rely on mylan and epipens to keep their children safe. and, quite honestly, shouldering the blame to obamacare and all the other things that she was saying today is just not good enough, in my opinion. liz: hold on. i'm pretty sure you're the first person i've heard -- and we've been covering this pretty intensely -- to say that heather bress should step down. why? >> because she is a leader of a multibillion dollar company, and
3:09 pm
she has not been truthful, she has not been honest, she did not step up to the plate when she should have, she did not answer the tough questions when she had millions of consumers asking why can't i afford a life-saving device when it only costs $1 to produce this pen. to me, when the trust is broken, you have to step up to the plate, and you have to answer those questions honestly. and the statement that was released by mylan today simply was not good enough. liz: okay. i want to show some of your letter where you said to mylan -- and, by the way, you were a paid spokesperson, we can show some of this. soon enough, an innocent child's life will be lost, and for what? money? i cannot accept or comprehen this line of thinking, i resign from my position as a spokeswoman for mylan specialty effective immediately. somebody named julie simply wrote back: we're confirming receipt of your e-mail, thanks for your feedback. >> uh-huh.
3:10 pm
liz: how long were you working for them, and were you on their schedule to do things for them? >> yeah. so for two years i was a paid spokeswoman for mylan, and i was specifically hired to do educational initiatives. so my job was to travel around the country and just advocate on auto-injector awareness, basically, have an action plan -- liz: okay. because without it, let's just make this clear, without it, people die. without an epipen -- >> within minutes. liz: -- whatever you're allergic to, within minutes your throat closes, and you are dead. so this is an amazing drug. some -- met me play devil's advocate. some would say, well, p isn't that worth paying $600 for two of them? >> not when they cost a dollar to make and not when in 2007 it only cost $50 to buy. really there's a disconnect here, and it has not been explained to anybody's level of
3:11 pm
satisfaction. again, offering a coupon and not even an apology, i think, is what everybody's most outraged about. we're talking about families, we're talking about children, we're talking about mothers who literally are going to the pharmacy and having to make a choice can they actually fill a prescription that is $600, $700, $900? nobody is going to be able to look at me in the eye and say that's okay because it's just not. liz: has your son ever had an an flak tick reaction the? >> yes, twice. and, actually, two years ago he had an an my lactic reaction to dairy. i was not home, and my 14-year-old daughter at the time actually is the one that gave my son his epipen. and we talked about this last night, actually. she had her three other little brother ares standing by crying in the corner watching their other brother go into shock because he couldn't give himself his own epipen. so she went to the cabinet, she got the pen because she knew
3:12 pm
where it was located, and she gave it to him and called 911, did everything she was supposed to do as a 14-year-old. liz: well -- >> however, if that pen was not in that cabinet, you're going to have three children in the corner crying because they're going to watch their brother possibly die in front of them. it's an entirely different story. we were lucky. so that's why this is not one of those conversations as if, you know, should she resign, should she not. no, we need to take ownership of the decisions that have been made. these are people's lives at risk, and that is precisely why i resigned. liz: okay. well, let me just say that we have, we had a bunch of twitter followers, and one of them wrote: a coupon? what is this, bed, bath and beyond? just lower the dang price. so that's one thing. and that's a libertarian dad who thinks that there shouldn't be government involvement here. i don't know what the answer is, but we do know that we have people, lawmakers in d.c. who are calling to discuss this, and
3:13 pm
in the end, the market is the biggest voting mechanism. >> yeah. liz: that stock is down today. so whatever they did is not enough to change what has been a steady fall. >> no. liz: here's the intraday picture, but over the past week -- before we let you go, because we've got hillary clinton's speech we've got to cover here. why didn't you notice that this price was going up and up and up, kelly, if you've been working for them for two jeers? i'm just -- two years? i'm just curious. >> you know, it jumped up considerabars. i have actually made comments to mylan in the past about it. liz: and what'd they say? >> you know, we're working on it, and we're doing the best that we can. and really that's been the m.o., we're working on it. liz: well, james baker, the doctor who runs the family -- the allergy, food allergy organization, spoke with us yesterday and said, yeah, they've been working with them for a year -- okay, time to actually do something. kelly, thank you so much. kelly rudnicki, she runs a mom
3:14 pm
blog as well. let us take you to reno, nevada. at this very moment, hillary clinton is on stage. we are monitoring the stage. when we start to hear what we feel is newsworthy, we will take it. in the meantime, dow jones industrials down 29 points. low of the session, 50 to the downside with the closing bell 45 and a half minutes away. it's walmart that is dragging down the dow along with unitedhealth group and nike. there's no question that another retailer has the right answers today, guess reporting a higher than expected second quarter sales and profit, lifting the low end of its forecast as its restructuring begins to show signs of progress. and their models aren't bad either. but look at the stock. today it's up 22%, but perspective, my children. guess stock was down 21% so far this year. that's now entirely erased at this moment. up next, a new offensive against isis in syria, it's underway, but the u.k. says american technology companies
3:15 pm
are not doing enough to fight terror online. what the british government wants from facebook, twitter and google. oh, boy, you've got to hear this. that's straight ahead on "countdown." ♪ ♪ ♪ with this level of engineering... it's a performance machine. with this degree of intelligence... it's a supercomputer. with this grade of protection... it's a fortress. and with this standard of luxury... it's an oasis. introducing the completely redesigned e-class. it's everything you need it to be... and more.
3:16 pm
lease the e300 for $549 a month at your local mercedes-benz dealer. mercedes-benz. the best or nothing.
3:17 pm
you just stuck it in a drawer somewhere and forgot about it. until a dump truck hit your pickup truck and now you need a tow truck.
3:18 pm
does your policy cover the cost of a tow truck? who knows? you didn't read it. you can't even find it. the liberty mutual app with coverage compass™ makes it easy to know what you're covered for and what you're not. call liberty mutual for a free quote today at coverage compass™ gives you the policy information you need at a glance. available 24/7 on your mobile device. switch to liberty mutual and you could save up to $509. call that's liberty stands with you™. liberty mutual insurance. liz: democratic presidential nominee hillary clinton is, yes,
3:19 pm
already attacking donald trump, saying he'd quote traffics and dark conspiracy theories. >> he was sued by the justice department for refusing to rent apartments to black and latino tenants. their applications would be marked with a c, c for colored, and then rejected. three years later, the justice department took trump back to court because he hadn't changed. and the pattern continued through decades. state regulators fined one of trump's casinos for repeatedly removing black dealers from the floor. no wonder the turnover to rate for his minority employees was way above average. and let's not forget that trump first gained political prominence leading the charge for the so-called birthers. he promoted the racist lie that president obama is not really an
3:20 pm
american citizen, part of a sustained effort to de-legitimize america's first black president. and in 2015, trump launched his own campaign for president with another racist lie. he described mexican immigrants as rapists and criminals, and he accused the mexican government of actively sending them across the border. none of that is true. [applause] and, oh, by the way -- [cheers and applause] by the way, mexico's not paying for his wall either. [laughter] [applause] if he ever tries to get it built, the american taxpayer will pay for it. we'll be stuck with the bill. but there has been a steady stream of bigotry coming from him. i think we all remember when trump said a distinguished
3:21 pm
federal judge born in indiana could not be trusted to do his job because, quote, he's a a mexican. think about that. the man who today is the standard bearer of the republican party said a federal judge -- who, by the way, had a distinguished record a as a u.s. attorney, had to go in hiding because mexican drug gangs were after him, who has mexican heritage but just like me was born in this country is somehow incapable solely because of his heritage. even the republican speaker of the house of representatives, paul ryan, described that -- and i quote -- as the textbook definition of a racist comment. [applause] and to this day, to this day trump has never apologized to judge curiel. but for trump, that is just par for the course. this is someone who retweets whiteupremacists online like
3:22 pm
the user who goes by the name white genocide tm. trump took this fringe bigot with a few dozen followers and spread his message to 11 million people. his campaign famously posted an anti-semitic image, a star of david, imposed over a sea of dollar bills that first appeared on white supremacist web sites. the trump campaign has also selected a prominent white nationalist leader as a delegate in california. and they only dropped him under pressure. when asked in a nationally-televised interview whether he would disavow the support of david duke, a former or grand wizard of the ku klux klan, trump wouldn't do it.
3:23 pm
and only later -- again, under mounting pressure -- did he backtrack. and when trump was asked about anti-semitic slurs and death threats coming from his supporters, he refused to condemn them. through it all, he has continued pushing discredited conspiracy theories with racist undertones. you remember he said that thousands of american muslims in new jersey cheered the 9/11 attacks. they didn't. he suggested that senator ted cruz's father was involved in the kennedy assassination. [laughter] now, perhaps in trump's mind because mr. cruz was a cuban immigrant he must have had something to do with it. and there is absolutely, of course, no evidence of that. just recently trump claimed that
3:24 pm
president obama founded isis. [laughter] and he has repeated that over and over again. his latest paranoid fever dream is about my health. [laughter] and all i can say is, donald, dream on. [laughter] [cheers and applause] liz: from donald trump's speech earlier to hillary clinton's speech, here we go, hillary clinton saying that donald trump has spewed a steady stream of bigotry, he retweets white supremacists' tweets, he was sued by the justice department for refusing to rent apartments to black and latino representers, so we're going on the -- renters, so we're going on the race warpath. this is pretty unbelievable considering this was something we thought this country had gotten over. coming up, our political panel is going to tackle that very
3:25 pm
subject in just a few moments. with the dow down 26 points, we'll be right back with our two governors, hodges and heineman. ♪ ♪ . . eryone.
3:26 pm
the usaa car buying service is helpful because it gives you that automatic savings, and i think it helps service members feel like their families are really cared for. and that's a really good feeling. (announcer) usaa car buying service, powered by truecar.
3:27 pm
3:28 pm
3:29 pm
liz: mudslinging began half an hour ago. hillary clinton in reno, nevada. she is live here. she slammed donald trump the move to the middle is basically a head fake. in essence he is spewing a steady stream of bigotry. this as she tops yet another national poll by 10% this time. however, we begin to wonder whether this negativetive and this bigotry talk on both sides might hurt the candidates. i'm joined by democratic governor jim hodges from south carolina. a long time ally of the clintons and governor dave heineman who
3:30 pm
serves on donald trump's agricultural committee. i'm really surprised race at forefront in such an ugly form? have we taken a single step from the '60s? >> we made progress. we elected a our first african-american president. let's face it. i grew up in the south and i know doug whistles when i hear it. donald trump has been using dog whistles for a long time. hillary is calling it out. i know the language. using it to appeal to people's worst instincts. liz: governor heineman she is calling him a bigot as well, articulating a couple things back when he was in real estate in the early days saying the justice department sued him because he was not fairly renting to latinos and to blacks. he doesn't have a big percentage of people of color who are right now on his side at the moment. does anything he says now, which is basically hammering democrats
3:31 pm
saying guys have been in charge in a lot of urban areas, look what happened? crime increased some of these areas. african-americans don't really seem to have a great shot at life. does that really work here. >> first of all i don't believe in name-calling by either candidate. even though i support donald trump the, i said from day one when i endorsed with, when he says something i don't agree with, i will say it out loud. when you talk about issues of america's inner cities. let's dispel myth right away. not every white person in america is as rich as warren buffett who lives in my state. not every african-american or hispanic is poor. people of all walks of life are poor, middle class, rich, whatever they may be. when you look at america's inner cities, detroit, baltimore, chicago, these have been controlled by democratic party for decades now. and they do have high crime rate. they do have failing schools,
3:32 pm
and poverty is increased. so we need to address those issues. i'm a strong supporter that every child in america, regardless of race, deserves a quality education. the way out of poverty to a good job is through a good education. so those are issues we ought to talk about and keep it focused on issues, not name-calling. liz: governor hodges, you have a constituency in south carolina, big chunk of voters there who are african-american. tell us what you think of what governor heineman just said. >> well, i'm encouraged, not just by dave's words but also by speaker ryan and hillary clinton, working together on ways to tackle poverty. i read recently they were embracing some ideas where they could wok together on issues of poverty. i think it is, all tied into trying to improve education and workforce training, and yes, health care. those are critical issues to our constituency here in south carolina but i think also to trying to move the country
3:33 pm
forward. we all have the goal of trying to get high-paying jobs and improve our economy. i think we have to come up with some solid plans to try to get there. liz: governor heineman, i know the state of nebraska has certainly lower unemployment rate than the rest of the nation. to what do you attribute that, how can we mimic that through the rest of the country? >> well, i think the key is to focus on growing your economy. and that means you control your spending, invest in your most important resources as i have always said, that starts with education of our children. you have got to lower taxes, you have to compete for jobs all across america. i never-minded competing against another state. that makes all of us better. so if you look at federal level, our corporate rates and our individual rates are too high. we need to get them down. frankly at federal level, both parties have failed to do their job when it comes to fiscal responsibility and they need to get about doing that in the next congress. we've got to move in the
3:34 pm
direction of a balanced budget. you can't get there overnight, but we need to move in that direction. liz: it is interesting, we have 15 seconds left, governor hodges. these are issues a lot of americans would love to talk about, not dog whistles, not race, not fingerpointing and mudslinging who is more of a bigot. how do we get to that point? >> well, i think have seen some encouraging signs recently with some issue papers certainly secretary clinton put out. i'm encouraged by some. discussion about new ways to improve education in our country. about worker training programs. i think there are some solid ideas. unfortunately you have to go to the websites to try to gather that information. but i do think we see encouraging and creative ideas how we can move forward. liz: we try to be very fair and balanced here. we literally give the same amount of time to each candidate when we take speeches like ones today. kind of unfortunate the tone is bad on both sides for the moment but we appreciate your tone.
3:35 pm
governor jim hodges, governor dave heineman, come back again. thank you so much. >> thank you. >> you're welcome. liz: amazing. i mean the race for the white house isn't just about democrats and republicans. the libertarians have voice here on fox business as well. john stossel's libertarian town hall is tomorrow night at 9:00 p.m. eastern. you have got to watch it. they have got great ideas too. closing bell 25 minutes away, with the dow down 28 points. uber coming to stop in new asian market but in london it is full speed ahead. uber's winding road. where it might take them next. coming up in today's tech minute. back at home, fbn's peter barnes in jackson hole, wyoming where he is is speaking with the fed power place. he has a live update about janet yellen's crucial update tomorrow. is it a hint about yellen's speech about a rate hike?
3:36 pm
you have to stay tuned.
3:37 pm
3:38 pm
reporter: i'm adam shapiro on the floor of the new york stock exchange with fox's tech minute. taking on google, twitter and facebook saying they're not doing enough to block extremist content promoting terrorism and violence of the companies defended their record saying they have blocked accounts and removed inflammatory content. apple is issuing a global upgrade of its operating system after espionage software targeting arab activist spy phone. experts say the spyware takes
3:39 pm
advantages of weaknesses in the operating system allowing it to take control of iphone headsets. uber is pulling out of macau 10 months after opening shop there. the company will allow customers in london to book journeys up to 30 days in advance. coming up more prime time drama for viacom. word of a possible deal look leaking out? charlie gasparino has the story. [announcer] is it a force of nature? or a sales event? the summer of audi sales event is here. get up to a $5,000 bonus on select audi models.
3:40 pm
always has to be who sat your desk? phone now, with one talk from verizon... hi, pete. i'm glad you called. (announcer vo) all your phones can work together on one number.
3:41 pm
you can move calls between phones, so conversations can go where you go. take your time. i'm not going anywhere. (announcer vo) and when you're not available, one talk helps find the right person who is. hi, john. (announcer vo) so wherever work takes you, you can put your customers first. introducing one talk-- another way verizon connects your business better. learn how at onetalk.com. liz: the only thing more exciting than janet yellen in a cowboy hat, would be if she gives a hint as to when we'll see the next rate hike. that is for us market nerds, right? the federal reserve major confab in jackson hole, wyoming, is well underway. peter barnes lassoed a fed-head in jackson hole. he is live with what he was able to squeeze out of it. reporter: i did, liz. i will probably wear one of the
3:42 pm
cowboy hats at our dinners. they do pass them out at some of these event. you're talking about esther boring, president of the kansas city fed bank. she is the host of the fed symposium here. we talked to her this morning. listen, she said as long as the outlook for the economy, her outlook for the economy proceeds as she expects she is ready to vote for a rate hike at the september meeting and we've heard other fed members, talk about possibly doing it in september. but she sounds pretty solid. she thinks that the unemployment rate is, unemployment is getting to almost full employment. she thinks inflation is headed towards the fed's 2% target. here is what she told me this morning. >> as i look at the data, as i look at the economy and the progress it's made, i judge we are nearing full employment. inflation is low and stable.
3:43 pm
that we should take advantage of the removing accommodation. i'm not looking for high interest rates by any means. i'm not trying to slow down the economy. in interest of the long-run, sustainable growth we should be raising rates gradually. reporter: and, by that of course talking about another quarter point increase. we should point out esther george is a hawk on the fed. she has voted three times already this year and been the sole dissenter in the fed policy meetings, voted three times to raise interest rates already. sounds like she is ready to do it again. we're waiting of course for janet yellen, who has, i guess kind of an outsized vote on the policy body, the fomc. so her remarks of course we'll be getting at 10:00 eastern tomorrow. we'll bring you those headlines first thing in the morning. liz. liz: you're in d.c. that is a fake backdrop. i shouldn't reveal that to our viewers. reporter: green screen. i'm in a warehouse in southeast washington.
3:44 pm
no, this is the real thing. it is beautiful. >> absolutely beautiful. thank you, peter. thank you. we'll see how beautiful the news is tomorrow. by the way, be sure to watch peter's interview with atlanta fed president dennis lockhart that "first on fox" interview airs at 8:50 eastern on "mornings with maria." okay, we're 15 minutes to go before the closing bell rings. just when you thought the book was being turned into the latest viacom drama movie, a new chapter is unfolding. the move that has cbs chief les moonves raising some eyebrows. charlie's about to break that. more on countdown in just a second. ♪
3:45 pm
3:46 pm
approaching medicare eligibility? you may think you can put off checking out your medicare options until you're sixty-five,
3:47 pm
but now is a good time to get the ball rolling. keep in mind, medicare only covers about eighty percent of part b medical costs. the rest is up to you. that's where aarp medicare supplement insurance plans insured by unitedhealthcare insurance company come in. like all standardized medicare supplement insurance plans, they could help pay some of what medicare doesn't, saving you in out-of-pocket medical costs. you've learned that taking informed steps along the way really makes a difference later. that's what it means to go long™. call now and request this free decision guide. it's full of information on medicare and the range of aarp medicare supplement plans to choose from based on your needs and budget. all plans like these let you choose any doctor or hospital that accepts medicare patients, and there are no network restrictions. unitedhealthcare insurance company has over thirty years
3:48 pm
experience and the commitment to roll along with you, keeping you on course. so call now and discover how an aarp medicare supplement plan could go long™ for you. these are the only medicare supplement insurance plans endorsed by aarp, an organization serving the needs of people 50 and over for generations. plus, nine out of ten plan members surveyed say they would recommend their plan to a friend. remember, medicare doesn't cover everything. the rest is up to you. call now, request your free decision guide and start gathering the information you need to help you keep rolling with confidence. go long™. ♪ ♪ liz: we've got some more drama
3:49 pm
coming out of hollywood. shari redstone is apparently trying to get the band back together to reunite viacom with cbs. cbs was spun off of viacom several years ago. that is only one problem, ceo of cbs les moonves hay not think that is good idea, charlie? >> we are listening to officials both close to mr. dauman, who was best way to put it, ousted by shari redstone. people close to the company's board. shari redstone is looking, plotting, talking, planning a possible reuniting of viacom and cbs bringing them together all under one roof. she would like guy to run it, even though tom dooley running viacom after dauman. here what we her from the company insiders, les moonves is not agnecessarily for it.
3:50 pm
he is worried, from what we understand the valuation of merging. essentially cbs would be buying, because cbs has slightly higher market cap, something like 23 billion. viacom with $18 billion market cap. cbs has done a lot better. viacom has market cap close to cbs, is saddled with face it, not very good properties. mtv was not what it once was. nickelodeon, paramount, go down the line. so that is what has, has mr. redstone very worried about this potential merger. now you could make the case shari redstone is his boss, which she is. they control both of those companies. cbs and viacom through national amusements, right? one problem with, les moonves could walk out the door. if he walks out the door, this is his trump card, he walks out with $150 million pay package. he gets golden of golden pair shoots. that is not something the
3:51 pm
company wants to shell out now, paying mr. dauman to leave something like $70 million. from what i understand inside the company, shari redstone made it clear. made it clear to moonves from what i understand. moonves is not on board. a lost analysts say moonves would like to sell, forget about viacom, he would like to merge with time warner. we have a whole complete package, whole story on foxbusiness.com. it will come in the next couple minutes where it lays it all out. but it's a very interesting story. it has major implications for stockholders of cbs and viacom. these are major media caps. as well as time warner. if they don't do the deal, people think moonves will convince shari redstone to do some deal with time warner. which puts together a interesting combination, cbs controls showtime, a bunch of different properties, the network with hbo, cnn. it would be a very interesting combination.
3:52 pm
liz: yeah, would the regulators allow that though? >> i don't know. one other point we should make, dauman is chairman until september 13th. what i understand he will keep pushing paramount deal, to push off part of paramount which shari redstone doesn't like. very low probability this is ever going to happen and the reason is, gets back to the idea of a merger. shari redstone would like a combined entity to include paramount where she thinks it could thrive if they have better management at the top, i.e., les moonves running whole show. that is where we are, major implications of shareholders of all the companies. moonves on the fence. liz: paramount, what not to love, ninja turtles. >> "ben hur? liz: i don't know if that was paramount? >> i think it was. they did a remake. you don't like gladiator movies. liz: i do. i like death and destruction. i worked in local news.
3:53 pm
>> you know who is big gladiator movie fan? david asman. liz: we'll ask him. he is coming up on "after the bell." charlie, thank you, i think. we have the dow down 38 points right now. closing bell about seven minutes away. it is a yellow flashing caution light on the wall street streets ahead of janet yellen's jackson hole's speech tomorrow but one market technician says there are more important things to be watching than the fed. screaming buys and screaming sells. you need to hear about these if you want to make money. we'll articulate those. countdown coming right back. ♪ with this level of engineering... it's a performance machine. with this degree of intelligence... it's a supercomputer.
3:54 pm
with this grade of protection... it's a fortress. and with this standard of luxury... it's an oasis. introducing the completely redesigned e-class. it's everything you need it to be... and more. lease the e300 for $549 a month at your local mercedes-benz dealer. mercedes-benz. the best or nothing. that inactive satellite radio of yours is ready to roll. because the siriusxm free listening event is on right now! just hit the sat button in your car and listen free thru sept 6. that's right, two glorious weeks of commercial-free music, plus talk, sports, comedy, news, and more. your ride has never, ever, rocked like this. oh yeah, siriusxm is on for free right now. so tune in and let's ride!
3:55 pm
3:56 pm
♪ liz: so even though we're down at this hour by 41 points for the dow, people are still worrying we're near a bubble, that there is some type of bubble trouble. symptom worrying. there are screaming buys and screaming sells you need to worry about.
3:57 pm
we have the eagle bay capital founder and president. good to see you. >> happy to be here,. liz. liz: you don't look at all emotion about markets. you're a technician. >> price and charts shows sentiment and emotion and really prices that in. i got to tell you, when market, s&p 500 for example, peaked in may last year, we went side ways to down over 14-month period. that consolidation resolved to the upside. that was a big base and when you get an upside resolution from something like that, it is hard to be bearish, liz. liz: where are the screaming buys? >> i like tech, big cap tech, largest sector in america. 21% of the s&p 500. liz: apple, google. >> all your favorites. microsoft. monster capitalization companies. between apple and microsoft alone we're pushing a trillion dollars in market cap. that is driving tech higher.
3:58 pm
that is 1/5 of entire s&p 500. liz: three-year highs? we're not there yet. apple, will hit a three-year high? >> i think we're heading back towards 130. whether we break all-time high we'll revail wait. that is still another 25%. we'll worry about it then. liz: what about the screaming sells, jc? >> that i think is really, that's the big question, where is that money going to come from that will flow into the equities market. i got to tell you i think it will come out of bond. look at traders report, talking about sentiment, right, super bullish sentiment in bonds. everybody thinks rates going to zero. commercial hedgers, smart money, if you will, with, i know, positions that i think suggest that interest rates are going a lot higher and money is therefore going to be coming out of bonds going into stocks. i think you sell treasury bonds. liz: i have heard people say interest rates are going a lot higher months and months. >> years. liz: got only one tiny rate hike last september.
3:59 pm
janet yellen is supposed to speak tomorrow. what is your best guess. >> we're talking about real interest its rates, not federal fund. we don't care about fed fund rates. liz: it affects down market other interest rates. >> consumers market participants we want to look at 30s, 20s, want to look at 10s, the benchmark, right? got to 2012 loy on 10-year yield. had a failed breakdown and started exploding. since then bonds coming off i think they continue. liz: you like big tech. what keeps you up at night before we go? >> smart client of mind asked me the same thing yesterday. that is the real question, where is the thesis wrong? i think it is very simple, look at s&p 500 and russell 3,000. russell 3,000 represents 9% of all investable assets in the u.s. stock market. u.s. equities. and as long as we're above last year's highs we stay long. if that fails, we'll reevaluate. as long as we're above that, we're in.
4:00 pm
liz: he says go into tech right now. j.c. parets, eagle bay capital founder and president. [closing bell rings] janet yellen's big speech in jackson hole, with the dow down 32 points. hand it over to david asman and melissa francis. pick it up here for "after the bell," guys. david: thank you, liz claman. dow, s&p and nasdaq all ending the day in the red. hi, everybody, i'm david asman. melissa: i'm melissa francis. this is "after the bell." we have you covered for the big market movers but here is what else is happening this hour. it is a war of words on the campaign trail with hillary clinton and donald trump exchanging major blows. clinton coming out of hiding to attract trump at rally just wrapping up in reno, nevada. while trump slammed clinton at a rally in new hampshire. who came out on top? we have takeaways from both sides. >> kicking the can down the road, obama administration says america's massive deficit will

36 Views

info Stream Only

Uploaded by TV Archive on