tv Countdown to the Closing Bell With Liz Claman FOX Business October 7, 2016 3:00pm-4:01pm EDT
sunday with our special coverage of the second presidential debate between donald trump and hillary clinton. the intelligence report is going to kick it off. i'll be here on sunday at 6 p.m. eastern followed by lou dobbs and neil cavuto at 8 p.m. eastern. make sure you tune in, it's a biggie, it could be a game-changer. now over to liz. liz: thank you so much, trish. we will. in the meantime, we've actually got a ray of sunshine here, some breaking news. florida's west coast ports are now back in business, but hurricane matthew is still there present and churning, inundating. right now it is turning north. markets are soaking in all the news because it's falling flat fast and furiously. the dow jones industrial average is flat right now, down a measly point at the moment after today's lackluster jobs report. but no shortage of news. this video speaks volumes about the continuing danger. we have a rising storm surge, deadly potential at this hour.
you can see that homeowner standing on the stairway watching a virtual river pass by. hurricane matthew pounding the florida coast with punishing winds, dangerous surf and the additional threat now, folks, of tornadoes. you're looking at live pictures of daytona beach, florida, where the worst does appear to be over, but folly beach, south carolina, the waves are now picking up at this hour. the outer bands of the hurricane are beginning to be felt. matthew, let's give you the exact numbers at least we have. right now located 60 miles southeast of jacksonville beach, but the hurricane warning has been extended from cocoa beach, florida, stretching all the way north to surf city, north carolina. the western eye wall brushing portions of the northeast coast of florida as it moves north/northwest 12 miles per hour. that's the speed of this monster. one death reported so far, and that's in florida. not so in the deadly aftermath in haiti. the death toll there, it is rising by the second.
folks, we are sorry to tell you 800 people have lost their lives at this hour as the destruction there becomes more clear. international officials calling for more aid to help provide shelter, food, water to the battered nation. now, while the most populated areas of southern florida appear to have survived with pretty much minor damage, nearly a million people in jacksonville alone with directly in the path. matthew's maximum sustained winds currently at 115 miles an hour. the most devastating part of this storm may still be yet to come. the national hurricane center is saying flooding could be deadly. high tide, destructive waves and a storm surge that could be as high as 6-9 feet aboveground from flagler beach, florida, to south carolina, that could create situations similar to the devastating flooding that we all saw up here in superstorm sandy,
2012. president barack obama referencing that storm by warning residents of florida, georgia and the carolinas today to listen to their local officials and take their advice. as of this moment, we've got more than 800,000 people without power. power lines down and transformers bursting through the storm. officials there believe more than a million people could be left without power before matthew departs. now, we did warn you exactly at this time yesterday that florida's daytona beach would get hit squarely in the jaw. that has, indeed, come to pass. adam shapiro on the ground in daytona. tell us what you're seeing, what you're feeling. >> reporter: this is actually pretty good at this point. you see people around, they're venturing out. they're going to inspect their homes. there is a trail arer park, it's called tanglewood. the reports are that the devastation there is pretty bad. it is a mobile home park, and the winds were fierce. the national weather service says that there were wind gusts in this area of 91 miles per hour. and let me show you how strong the wind was. going to kneel down here.
i've been showing people these roof shingles all day because this is what blew off the roof here. when you look from the second floor of the building where we were taking cover during this storm, you can see out above some of the one-story roofs. shingles are gone, gutters blown off. so that's the degree of the damage. doesn't look like there's structural damage anywhere, but that's the kind of damage they're going to have to clean up around here. the electricity in this part of florida, it is out, volusia county. dark right now, that's roughly about 300,000 people. but, of course, as you heard rick scott say, it's in excess of 600,000, and when you add in everybody around the state, it's approaching 800,000. florida power and light says they will have electricity restored to miami, dade county, broward, up to palm beach, the few people who did lose electricity will have their electricity back on by the end of today. we shot video earlier that showed the storm here in the daytona beach, the port orange area, liz, and i've got to tell you, the wind was just wicked,
as they would say in boston. it was wicked strong with an incredible amount of rain. the rain was sheeting at one point, and it was coming in sideways, and it was like little pellets stinging you on your skip. i could feel it through my rain slicker. the good news, the flooding that took place here is low-level flooding. it's on the streets, it's from what we believe is about 10 inches of rain that fell. the storm surge that everyone is concerned about did not materialize. the 7-11 feet they were worried about hitting at high tide as i wrap up did not occur. although there is some low-level flooding, nothing into the homes. but, again, there is some damage, and for people who lived in that mobile home park, tanglewood, it's not a good day. in fact, some of the people you saw going out to venture and see what was going on with their homes as i was coming on to talk with you, those are people who live in tanglewood, and their neighbors say it's devastating. liz: i can only imagine.
i see people behind you, so clearly people feel a little safe at the moment to be able to venture out and see what's going on. adam shapiro, thank you. again, 8-12 foot storm surge. looks like daytona didn't get slammed with that, but they're still getting hit by winds. and, remember, when you see a hurricane, the tail sometimes whips around, and there are moments of calm and then moments of complete hysteria. the eye of the storm as it moves north of the beach town still threatens this town. mayor derek henry just got back from driving around with police to survey the damage. mayor henry joins us on the phone. thank you so much for taking time out on what i know is a busy day. give us a snapshot of what you saw. >> well, we saw a great deal of devastation as it relates to our tree line throughout multiple neighborhoods, many business signs were down. we had several, one neighborhood with, i think, five trees that
went through the homes. but it is much better than it could have been. we are very happy ask delighted with our residents who listened and heeded our warnings to leave. and just very grateful that the storm took a little bend away from us, and the impact was not as significant as it could have been. however, we are very concerned that residents are rushing out too quickly. liz: oh, okay. because we just saw our reporter, adam shapiro, out on the street, and then, sure enough, we did see residents coming out and milling about. is the message that you'd like to give to them to, please, stay inside at the moment? >> i certainly would. we need them to, please, please, stay inside because, one, the ground is very saturated. we have lots of problems with multiple trees, and many of these trees will fall, and they won't be aware of it, and a person could actually get injured. and then, finally, as you were just mentioning, the tail spin
of the storm is very dangerous. and while you may have calm for a moment, it doesn't take but a second, and they won't have an opportunity messily to react -- necessarily to react to these dangerous winds. and you still have power lines. and the final thing is that we need them to stay off the roads in an effort, because we are beginning to activate our emergency crews to clean the environment, our police department, our fire department. they will better be able to do their work if our residents will stay at home. liz: great point. we're happy, hopefully, to pass that along to your viewers who live there and who still have power. thank you. and good luck to you, mayor. mayor henry -- >> thank you. liz: anytime. derek henry of daytona beach. updated numbers, we are now being told that more than 800,000 people are without power at this hour across florida. specifically, but that number is expected to rise as matthew continues to churn its way up the coast. again, it's just south/southeast of jacksonville.
okay, so it hasn't even gotten to the carolinas yet. duke energy has more than five million customers between florida and the carolinas. suzanne grant is duke energy's communications manager. look, as a business network, we put that hat on, but we also put on our hat where we say tell us what's happening, what is the status? because we have on our video blowing transformers which happened overnight. tell us what the damage assessment is so far. >> well, we have seen some extensive damage in our florida territories. we serve 1.7 million customers in florida, and those customers are along our atlantic-most coastline areas and were fairly hard hit. right now as of about 3:00 we have about 162,000 customers without power. we're working to finalize those damage assessments in the heaviest parts of our customer areas where we were hit pretty tough. liz: suzanne, talk to us about the challenges you face, because you guys are waiting for the second the winds die down so you can bring in workers.
duke is known for bringing in workers from all over the country. i understand you have people coming as far away as indiana. crews, linemen, contractors, tree trimmers, what are also known as vegetation personnel. tell us what the status of those crews is. >> well, we brought in many of the crews in the days before the storm, so we're watching and monitoring this storm well before it caused an issue for our customers, and we're bringing crews in so we are staged in advance, and we've got them in the areas where we believe are going to be hardest hit. and as you said, we're bringing in additional crews from the midwest to help throughout the weekend. right now we know that we have doubled the number of crews we normally do in florida working this storm on behalf of our customers. liz: listen, good luck to you. and i know it's hard. people need to be patient, folks. i know -- listen, that's the problem. you probably get a lot of complaints, but what is the best way for people to reach you if they don't have phone service? >> well, we have, obviously, our phone numbers, but we also take
outages by text message, and we also have outages we can take via our web site if people have computers available. so it is important they can get to us and let us know that their individual home or business is out so we can make sure we get every customer back up in service. liz: good work, suzanne. best of luck. thank you so much. >> thank you so much. liz: duke energy spokesperson. look, we should give a nod to energy as we continue to fall and watch the fallout from hurricane matthew. traffic is still at a standstill in certain pockets of different states that are being, that are being affected here as residents attempt to evacuate. what happens when people are stuck in standstill traffic? they burn gasoline, they run out of gas, and, you know, the gas stations are either closed or out of gasoline. well, here we have most oil and gasoline terminals along the southeastern coast shuttered as a result of the storm. let's check on the price of natural gas right at this moment. it is trading higher.
this is not a surprise to see a 4.75% hike at the moment, still pretty affordable, but this gain of 15 cents is something that i know ashley webster watches as it pertains to natural gas and the rest of the energy sector. >> reporter: absolutely, liz. that part of the world we have a lot of natural gas and also oil operations both in the gulf, thankfully which was spared this time, but certainly up and down the atlantic seaboard. let's have a look. we have natural gas with up, oh, up about 4%, nearly 5% as you can see. actually, here we go. those are mixed bag, exxon down. back to you, liz. liz: ashley, thank you very much. finish and we'll fix your microphone the next time we see you. thank you very much. 48 minutes before the closing bell rings. a flat to lower market at the moment with the dow jones industrials down six points, but
hurricane matthew is not down, it's not out, it is still roaring ahead. goldman sachs is at the top of the list, home depot at the bottom, which is interesting. but there's the forecast track as it charges toward charleston, wilmington, savannah and more. are twitter's bidders dropping like flies? reports another suitor of the social media giant is looking to unfollow the pursuit. is twitter bound to end up hashtag alone with the ceo wondering what happened to all of his hot dates? charlie gasparino with exclusive details on one of the most closely-watched m&a contenders in history, straight ahead. and the federal reserve's second in command calling the latest jobs report a goldilocks moment for the economy, but will the fine print be unleash the gremlins on the markets? the man who's at the front and center of compiling that jobs number and what it means for you and your money and your job search. labor secretary tom perez
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processing plant. tarheel, north carolina. they're doing this to protect employees in north carolina from hurricane matthew. industry sources are saying that farmers are bracing for the storm's potential lashing and and, therefore, there is a domino effect, and they must shut down this plant. be and that, no doubt, is affecting who knows what. what we will expect to see when it comes to the unemployment lines. speaking of employment, traders are calling the september jobs report that came out this morning not too hot, not too cold, sort of goldilocks. the economy did add 156,000 jobs. the unemployment rate ticked up to 5%. pretty much considered the sweet spot for the federal reserve. it was not strong enough for them to make a november move but might just be right for a december chance which now stands at 70% probability that we will see a rate hike put in by the federal reserve. let's bring in u.s. labor secretary tom perez to look at the numbers and the breaking news. secretary perez, thank you for joining us.
>> thank you. liz: we just saw smithfield foods is going to shut down the hog processing plant. i'm seeing numbers of 10,000 employees who might be affected. can you give us a sense of what you in d.c. are looking at and how this might affect the labor numbers come next month? >> sure. well, i'm happy the employers and so many people there are putting their workers first and the community first, and i applaud you for your coverage on this, our first concern, obviously, is with the here and now and making sure first respond's can do their -- responders can do their jobs. we'll continue to keep families in our thoughts and prayers. we periodically see short-term disruptions whether it's winter storms that were in the northeast last year or the year before, things of that nature. and we might see a short-term impact, but often times as well when you're in the rebuilding process, that sometimes results in job creation. but my thoughts right now are with making sure that everybody is safe and found and that the first -- safe and sound and that the first responders have the
tools to do their jobs. liz: absolutely. we're looking at live pictures of savannah, georgia, mr. secretary, and you can see the wind is whipping those palm trees. and we look and we, of course, pray for everybody there. people are looking at this jobs number though. it was a miss. i wasn't the worst miss in the world, but it appears now this is the third month in a row that we've seen a slowdown in the pace of job growth. three months is a trend, i could call it that. what's at work here? why are we starting to see a slight slowdown here? >> i wouldn't call it a miss. you've got to look at the entire picture here. we see steady job growth and wage growth, and we see steady growth in the quality jobs. three-quarters of these jobs were in three sectors that are really well-paying sectors; health care, construction and business and professional services which did the best. and when you layer this, liz, on top of the report from the census bureau of a couple weeks ago that shows the income rising over 5%, the median household
income rising over 5% from 2014 to 2015, 3.5 million people lifted out of poverty during that same period, that's the largest one-year drop in the poverty rate since the late '60s, and that 5.2%'s the largest increase in household median income, i think, ever. you know, you look at all those fundamentals, and you see we continue to make progress. and we still have more work to do, there's no doubt about it. but when you add up all of these things, first-time claims for unemployment, we've now had 83 weeks in a row under 300,000, and that's the longest streak since 1970. so, you know, those are -- when you look at bellwethers of where the economy is, the economists i speak to, they look at first-time claims for unemployment, they look at the job numbers -- liz: okay, but -- >> looking at wages, so we've got a lot of good indicators here. liz: well, i know you talk to economists. we talk to a lot of people, a lot of businesses, and it's manufacturing that seems to be a sticking point here.
manufacturing jobs shrunk about 13,000. look, it's a linchpin of the election. >> yeah. liz: people are talking about shrinking manufacturing jobs, they blame trade. trade becomes a topic. what is holding up growth in manufacturing? >> well, there are two things right now. first of all, it's important to note that we had solid manufacturing growth for the first six years of the obama administration, the best growth since the mid '90s. and what we've seen over the last year and a half are two factors. number one, the strong dollar. when you're manufacturing something for export -- and so many of our remarkable companies do just that -- a higher dollar makes it harder to sell. and then, secondly, the more broad global economic downturn. our economy has been moving well, but the rest of the world hasn't been following suit. and so when you are, when you have these global headwinds, manufacturing is a sector that will feel it. and so those are the two forces that have really reared their
ugly head over the last year or so in the manufacturing context. liz: secretary, on a busy day, we appreciate you coming on. >> it's always a pleasure. and we'll keep our, those families and first responders in our thoughts and prayers. liz: us too. secretary thomas perez of the labor department. we look at this storm here, and we know that there is so much more when it comes to the storm as far as the jobs numbers are concerned. wall street week, anthony scaramucci and gary kaminsky, back on the job tonight, 8 p.m. eastern. you've got to stick around for that. and then stossel, john's taking a look at what the presidential candidates don't know much about. that's at 9 p.m. eastern time. looking at that storm, again, just south/southeast of jacksonville at this hour. and we have the dow jones industrials down 11 points at the moment with just two days until the highly anticipated presidential debate. both candidates studying up ahead of what some are calling a make or break moment for their campaigns.
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liz: breaking news. president obama has just declared a state of emergency now in north carolina, ahead of hurricane matthew. this according to the white house. folks, i do have a few coordinates i give you when it comes to towns and area. north of surf city to duc. this thing is now moving ahead and forward north. so what we have is, at this point still hurricane at the moment, category category 3 going towards jacksonville, which is florida. hilton head, myrtle beach, cape hatteras, the outer banks.
it is going there. air force reconnaissance planes clocking winds near the eye at 123 miles per hour. you're expecting that eight to 12-foot storm surge. we're watching every single second the news and tape here to get you the very latest. speaking of very latest when it comes to politics, we understand both party nominees are laying low at this hour to prepare for sunday's debate showdown. hillary clinton with no events but sending out sure row bats out into place. donald trump not holding any rallies on his agenda. he is holding a security roundtable at trump tower. that happened this morning. advisors, campaign staff surrounded him. blake burman talking about how mr. trump plans to turn things around after his lackluster performance during his first debate performance. reporter: it is chris christie the new jersey governor, who is the head of trump's transition team along with reince priebus,
head of the national committee, they are ones who are actively involved in those sessions on this day. trump advisor who i spoke with earlier today, told me that trump has learned from his mistakes in round one. should be better equipped to handle what comes sunday night in round two. the format will be a town hall. so, a different kind of a setting than the first debate. trump partook in his own town hall last night at an event in new hampshire but during it he denied that it served somewhat as a final test drive. listen here to trump. >> by the way, they were saying this is practice for sunday. this isn't practice. has nothing to do with sunday. we're just here because we just wanted to be here and you know, hillary, frankly, they talk about debate prep. that is not debate prep. she is resting. she's resting. [laughter]. reporter: as for clinton, liz, this will be the second day in a row she is off the trail at least with public events. she doesn't have any public events today as she zeros in on
debate prep. bottom line for clinton, what she did last time, taking time off for preparing, it worked. so she is sticking to the very same script again. i also should mention, liz, while they are preparing trump and clinton, both took time out to speak with homeland security secretary jeh johnson. both were briefed on hurricane matthew's expected impact and the federal response. >> keep it here for fox business with latest on presidential campaign, 6:00 p.m. eastern. charles payne, as he always does gets to release the latest fox news polls. brand new fresh polls regarding this election. fox business's coverage of sunday's presidential debate. put it in teach v., dvr, live from st. louis. we start at 9:00 p.m. eastern. fox business has you covered. speaking of you getting you covered we're taking you live to south carolina where hurricane matthew is headed now. stay tuned. you can run an errand.
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(announcer vo) you can go straight home. (howard stern on radio) welcome to show business. (announcer vo) or you can hear the rest of howard. bababooey! (announcer vo) sorry, confused neighbors, howard's on. siriusxm. road happy. >> i'm ashley webster on the floor of the new york stock exchange with this fox business brief. the dow just down slightly by seven point. also the s&p and nasdaq moving slightly lower. meanwhile deutch bank stock higher on reuters report that it has support from its biggest shareholder and german lawmakers. investors may be looking to give a cash infusion up to $3 billion. the german bank has taken a hit as it tries to work out a multibillion-dollar settlement with u.s. authorities. snapchat may be ready to go public as early as march of next year. the "wall street journal"
reporting that the parent company, snap, will be valued at $25 billion or more. that is big premium to the company's last valuation of $18 billion in may. what part of evacuate do you not understand? we asked former governors why it is critical for their political fortunes during a hurricane. more liz claman and the countdown after this. when it comes to healthcare, seconds can mean the difference between life and death. for partners in health,
liz: brand new video, thousands of people are evacuating at this time this is video of buses taking nearly 2000 people from savannah to augusta. safer regions this is georgia. police officers are helping elderly and children and families to get away from what is still category 3 very dangerous storm, hurricane matthew. the domino effect of hurricane matthew hitting nation's airport as well. orlando's airport closed last night. add that to the pile of
problems. so far nationwide, 4500 fights, 4500 so far have been canceled due to the storm. remember all of orlando's theme parks, disney world, universal studios, the big popular "harry potter" exhibit, seaworld all shuttered today and possibly tomorrow because of the storm. as matthew heads north, some airports in south florida are actually starting to reopen. cancellations are still rampping up in atlanta, charleston and from video you just saw, savannah, georgia. fox news's jonathan serrie is on a beach in south carolina. you probably heard already, jonathan. it's a state of emergency in south carolina where you are. what are you seeing? reporter: yes, indeed he has to mobilize any additional assistance needed from the federal government as state and local agencies respond to what very likely could be a very serious disaster here with the storm rapidly approaching. the main concern is not
necessarily the heavy, potentially hurricane-force winds but storm surge, especially out on barrier islands which are prone to flooding. they're keeping nervous eye on the ocean here. want to show you now some video that we took from our drone. we launched it just before the rain started. gives you a good look at the rough seas churning, just off the beaches of folly beach. a town on folly island. one. multiple barrier islands off the coast of charleston and the threat of storm surge goes just beyond the beach areas because of all rivers and tributaries leading in from the atlantic. these waters are all interrelated t can force surge upstream causing flooding in communities inland. heavy rains are expected for the storm, which could cause potential for flash floods in
other parts of the state far away from the atlantic ocean. so far more than 310,000 south carolinians have evacuated low-lying areas but state officials would like to try to bump that number up to half a million people. they say people should not take chances, even if you're in a sturdy structure. some of these low-lying areas, these barrier islands, low-lying roads will be cut off by floodwaters and highbridges will become too dangerous to cross in the heavy winds. folks in some of these more remote communities may find themselves temporary isolated. and so south carolina officials are urging them to get out of these threatened areas while they still have the chance. back to you. >> jonathan, thank you so much. you and the crew stay safe. we appreciate it. he has been doing unbelievable job here. we just got breaking news out of washington, d.c. it appears, this is a joint statement from the department of homeland security and the office
of the director of national intelligence on specifically election security. the u.s. intelligence community says that the russian government directed the recent compromises, translate that hacked, of emails from u.s. persons and institutions including u.s. political organizations. so we've got three groups that have been hacked by the russians according to the department of homeland security. then this also just came in. there will apparently release of5 more documents and emails from hillary rodham clinton's server, her private server. they are released, bold print today. search of we see, six of them have been marked classified and released with reactions. the topics will be honduras, assistance for libya post-gadhafi, 2011 and not around the 2012 benghazi attacks and comments from clinton con if
i daunt sid blumenthal and speech by israeli prime minister benjamin netanyahu. when we get them we'll bring them to you. jonathan serrie was in south carolina. former jim hodges will be standing by and former republican governor and senator from virginia, george allen. i need to quickly ask but the emails. governor hodges, you're supporter of hillary clinton. what does this do now? then the russians are being brought into the discussion as well? >> i think there has been this great fear all along the russians may have been involved in the hacking of political parties. i think we all would agree keeping them out of our political activities is imperative. it is disgraceful that they have done that. liz: okay. i wanted to just get your comment on that. i will stay with you for a second, governor hodges, there is a state of emergency in your state right now. as a former governor who had to deal with hurricane floyd and
all kinds of other issues. how do you things are going? is governor nikki haley doing the right thing? she did reverse highway structure there allowing people to get out of dodge. >> i think you're right, so many people live on the coast of south carolina now the lane reversal worked very well. that is something we implemented back during my time in office. governor haley i think executed it well. the key is getting people out of harm's way. i think she appropriately pushed people to leave the area along the coast because of the risks that we have of both flooding and of the storm surge that was mentioned by your reporter earlier. so far so good. you know, we all are concerned about what's going to happen along our 180 mile-an-hour coast and potential for damage we have. most important we make sure we don't lose human life. liz: governor allen, virginia had its shares of storms and problems as well. we heard governor rick scott of florida, bluntly saying this storm will kill you.
how important is it? sometimes they get accused of overstating drama and ramping it up too much. me personally, it is better to err on the side of caution, isn't it? >> it is. especially hurricanes that are coming nothing like tornadoes that spontaneously arise. you know they're coming and you want people to be safe. evacuation aspects as governor hodges talked about are important. preposition assets once the storm is you through to get working with the local fire and rescue and law enforcement people to give relief. sometimes we found the department of forestry was great with the chainsaws, trees that have fallen down over roads. then the other thing as a leader, you need to get your boots in the mud. let people know that you know what they're going through. you get a lot of good comments and ideas what assistance they need to get back up and, at the federal level, fema can be helpful, small business administration, everyone working
together to help families and homes and small businesses get up and running. today's national manufacturers day. a day you want manufacturers also up and running. liz: this is shock to both of you. florida's a swing state. >> yeah. liz: florida is getting through a horrific time during this storm. during storms, you both know this, both sides of a race have to take down their campaign signs and people lose their absent see ballots and all kinds of things. governor on hodges will this be issue for election day? >> taking down campaign sides is good for the republic. but i think george would agree with me about that. the truth is we need to do everything we can to accommodate people who are recovering in their lives. i think it is important to be able to give them access to vote. and to understand that the next few weeks they will priorities other than politics.
and helping make that transition smooth is very important. liz: we got to run. >> we actually went through this in 2012. he is right on the signs. people don't want to see campaign ads by the way. if you want to run campaign ads in a state like ohio, run it during the bengals-browns game on october 23rd. they don't want to see political ads. liz: you're so mean, you know i'm a browns fan. >> i'm for jimmy's team during that game. liz: great to see both of you. governors, stay safe please. >> thank you. liz: as we go to a break we just want to mention with about 14 minutes before the closing bell rings, we're watching storm very closely. the dow is down 13 points. so much news here, including this. another one bites the dust. twitter's list of potential suitors getting shorter after epic corporate warning of caveat emptor, buyer beware. charlie gasparino is standing by with details you only hear on fox business. charlie breaks it down.
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call unitedhealthcare or go online now. ♪ liz: to the twitter soap opera. sales force investors and management were on the verge of revolting against ceo mark benioff. there is a report he considered making a bid for twitter and they did not like it. disney, google, apple, all reportedly lost interest in making a bid for the social media giant. now everybody is wondering will mark benioff concede to pressure from within his own company and shareholders or is he going it alone and buying twitter? here is charlie gasparino. >> to get this type of information, you need to go to cnbc to ask about this great story and ask david faber whether twitter is shopping itself.
they are so good on the story. they gave the investing public such a good read on this. david, congratulationses. >> you do realize -- there is enough oxygen in the world for both of you? >> no, there is not. look, that is what they did. they blocked me on twitter. he blocked me on twitter because i called him a gadrool on your show. liz: a drool? >> know -- liz: we're going through this again. >> you know what that means? translated literally it means cucumber. liz: which i like. >> figuratively it means you have the brains of a -- liz: okay, all right. >> we'll go through this. i always preface all my twitter reporting if you're small investor watching on the show be careful with the stock. rumors fly around and the stock is very volatile. i believe twitter will be sold at some point. i don't know when. it is obviously not going to be sold. liz: tanking right now. >> not doing very well right now.
but will it be sold to sales force which appears to be the last man standing. it is still a possibility. here is way will tell you analysts talk to people at sales force, they tell me this. liz: it was not tanking. tanking over the week. >> here is what analysts are saying about sales force interest, last man standing. they're confident, that mark benioff postponed his possible imminent bid for twitter. they are convinced speaking with people inside the company, he essentially caved to pressure from outside, meaning investors. they sold the stock. even within a lot of c-suite executives at sales force, thought this was a bridge too far. they believe, future bid is still possible but more likely, if the stock breaks. i think, this guy likes the stock. if i was to bet who might buy them, he seems like a guy who would like to bite. he has other business issues.
he has got a company that is growing. still isn't profitable by the way, but growing doing very well. the question do you take a left turn with twitter? apparently people are talking about it, if he does do this, say he did buy it, the market cap of the company of new combined company might decline by 20%. it would be a problem. liz: right now the market, can't see anything anymore, 13 billion. >> and they're a little down. liz: twitter. >> no, what is going on with sales force. liz: down a third of a percent. >> that is the backstory to why david faber blocked me because i called him out on some of this stuff. he is a nice guy. i kind of like him. liz: good friend. >> he is a good friend? oh, god. liz: something he doesn't get. >> with friends like that why do you need enemies. liz: i will say noodnik. >> with friends like him why do you you need enemies? liz: more on markets. weekly snapshot and last update on the hurricane at least for
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liz. here we go. this is a picture right now of hurricane matthew now heading north towards jacksonville, florida, and beyond. speaking of which, florida is putting all hands on deck. florida's fish and wildlife officers, will be commandeered to help with search-and-rescue. we're keeping eye on that as we are the markets. specifically wells fargo. it has been a rough month of blame and shame for the bank. it is up about half a percent right now but the embattled bank tumbled more than 10% since august. bring in bill smead. he is somebody says get in there and maybe buy, buy wells fargo? with smead capital management. you like wells fargo on this friday? >> well the stock has dropped dramatically and i think the bank has already gone to the regulatory bodies and asked them
ahead of time what do we have to do to make this right. it was the, i think the politicians were frustrated that they weren't allowed in ahead of time and the magnitude of the money involved is low. the reputational damage is high. and the question you ask is, did anyone move their checking account or did anybody leave the bank for a new relationship because of this? banking relationships are incredibly sticky. liz: yeah, it is amazing as you watch what has been happening. the stock is still down for the count. 20 seconds left before the closing bell. we got the jobs report today. it was a slight miss? >> well, what we expect is a transition away from longer, lower for longer on interest rates to a much better economy going forward. that changes what you want to own. liz: 2.2 billion in assess under
management for bill smead in seattle and growing. thank you very much. [closing bell rings] it crossed the unchanged line 55 times during this session. the markets closed lower for the week. david and melissa, pick it up or on this friday for "after the bell." david: stocks are sinking after the jobs report fails to meet expectations. the major averages spending the day and the week in the red. hi, everybody, i'm david asman. melissa: i'm melissa francis. this is "after the bell." we have you covered on all the big market movers but here is what else we have for you coming up this hour. hurricane matthew pounding the eastern coast of florida as it makes its way north, threatening georgia and the carolinas where more evacuations are underway. president obama just declaring a state of emergency now for north carolina. winds whipping at 120 miles per hour with dangerous storm surges eight to 12 feet! more than half a million people now without power in florida. we are on the ground along the