tv Countdown to the Closing Bell With Liz Claman FOX Business October 13, 2016 3:00pm-4:01pm EDT
trish: all right. let's check out these markets, you can see we're back up to the flat line, down just 13 points. we had been down 184 at the low of the session, but we're coming back. not bad. liz claman is going to take you to the close. liz: trish, thank you so much. hey, we have got a comeback in the works on wall street and a comeback on the campaign trail, perhaps? the dow trimming its losses, down earlier by 184 points. need to tell you that while we are down 15 points, just a minute ago we were down less than 6. oil is also reversing. it had taken an earlier hit. it's trying to move higher right now. in florida, the self-described king of the comeback facing sexual assault accusations head on. donald trump wrapping up in west palm beach more than an hour ago where he called the latest accusations by four women, quote, totally and absolutely
false, smears and bug lies. says -- big lies. says he's going to prepare a lawsuit against "the new york times." trump blaming the hillary clinton campaign, the media putting out pure fiction as trump faces his scandal, hillary clinton's team deals with the latest wikileaks dump. we got our hands on this, it's the 80-page document detailing her campaign's problems regarding close ties to wall street specifically. our political panel on the latest mud-slinging from sides and where it takes us next. in the meantime, the phony bank account scandal takes down the wells fargo ceo just as charlie gasparino told you it would right here on "countdown." charlie joining us in a moment to tell us how it went down. and samsung's galaxy note 7 disaster blazing out of control with flames licking the major carriers. the always-outspoken t-mobile ceo john ledger with me exclusively on how his company is fighting the fire. plus, he just hit three million
followers on twitter. glad you're following us right now. we're less than an hour to the closing bell, let's start the "countdown." ♪ ♪ liz: so pretty much all day until a couple of minutes ago everybody kind of thought we would end the day with a triple-digit loss, but the markets are staging a clawing comeback right now. the dow has pretty much erased the 184-point loss at the lows of the session boosted by pretty much the recovering sectors. what are those? utilities, real estate and health care stocks. do you own those? because they are propping up the broader markets at this moment. but a slightly different story for financials. currently, the s&p 500's worst performer. i guess you could call it earnings jitters because some of the largest banks are on tap to report tomorrow including citigroup, jpmorgan and wells fargo. by the way, this will be the first quarterly report for the embattled lender since news of the phony bank accounts and
credit card scandals hit the radar. citigroup's down two-thirds of a percent, goldman's getting, 1.2. also having a rough day, deutsche bank. germany's biggest lender said it's putting a freeze on all hiring. what does that do? it's trying to struggle a staged comeback from recent legal woes that brought shares to multi-decade lows. the stock is down about 1.5%. it's only $13.40. amazon putting its record-breaking streak on hold at the moment, this despite news -- and it's pretty good news -- it plans to hire more than 120,000 seasonal workers for the holiday season. that's about 20,000 more than they did last year. typically, that kind of announcement means the company's uber-confident that it's going to be ooh well, and that usually brings cheer to holiday investors, but right now the stock is down about half a percent, it is trading at $829.47. but i just point it out here, the annual high of the stock is 847, the annual low -- don't you
wish you bought it here? -- $474. so way higher than that. to politics where both candidates are battling scandals on the campaign trail. the clinton campaign dealing with the drip, drip of wikileaks revelations. speeches in which hillary clinton praised wall street bankers telling the finance crowd that her anti-banker sentiment was, quote, just political. meanwhile, republican nominee donald trump fending off his own allegations of unwanted sexual advances. donald trump threatening to sue "the new york times" over its report that two new women have surfaced claiming the businessman sexually haha rahed them. -- harassed them. adam shapiro this west palm beach, florida, a state where the republican nominee, adam, has pretty much campaigned for three days straight. he made it clear about the lawsuit, right? that's "the new york times." you've also got the people magazine reporter making claims too. >> reporter: right. and be he addressed that issue before, what, about 3,000 fans
of very loud, boisterous, energized, passionate crowd of his supporters, and he said -- he called all of it a horror show of lies, deception and malicious attacks. he spent a great period of time linking the clintons to the media and saying that the corporate media in our country is no longer involved in journalism. but really what he was doing was distancing himself from these allegations. here is donald trump in his own words. >> it's not coincidence that these attacks come at the exact same moment and all together at the same time as wikileaks releases documents exposing the massive international corruption of the clipton machine -- clinton machine. these vicious claims about me of inappropriate conduct with women are totally and absolutely false. [cheers and applause]
and the clintons know it. and they know it very well. >> reporter: so mr. trump is taking his message to ohio right now, but when you ask the supporters that were here today do you believe mr. trump, some of them say it doesn't matter whether it's true or not, others just absolutely don't believe what was printed in "the new york times" or the people magazine article is true in any way. the supporters say these are clinton's supporters, and they question the awe hen disty of these -- authenticity of these accusations. liz? liz: adam, thank you very much. coming up, we're going to look at hillary clinton's latest scandal over her leaked speeches to wall street. that's with our political panel. and really the question becomes are either of these scandals shifting voter sentiment? we will know tonight. making money, 6 p.m. eastern, charles payne will reveal the latest fox news national polls on the race for the white house. grab your hiking boots,
that's what the philadelphia federal reserve president, patrick harker, told fox business exclusively. he wants to see a rate hike before the end of the year. listen. >> i was supportive in september of a rate move, and i am still supportive of, by the end of the year, having one rate move. for a couple of reasons. one, the labor market, as you mentioned, continues to be strong. some say 150-ish thousand jobs is not strong, but it's well above what we need to maintain the unemployment rate at or near its natural rate. secondly, we're seeing other signs of wage increase, we're seeing core pce starting to move toward 2, so i am supportive of a rate move this year. liz: peter barnes with philly fed president harker. all right, so look, the fed looks for the moment to pull the trigger before year end, but then we got bad news out of china. i wont to bring in john -- want to bring in john corpina, this
morning the news was pretty bad. i don't know why anybody is surprised, in essence, china had the biggest export slowdown since february, so their currency is tanking. you would think under those circumstances they would be able to sell more to countries like us. they're not. then i start reading that that may hold off the fed. what do you think the market's thinking? because we're staging a comeback right now. >> i think the market's just as confused as we are, and as that headline that we got out of china wasn't overly surprising, it's definitely concerning. and come back domestically, we've got three pretty big things that are going to happen before the end of the year. we're right into earnings season, we're going to get some big financial numbers tomorrow, we've got the election, and we do have the rate hike. we have been talking about this for a long time, when it's going to occur. i'm more in the camp that it's going to happen the beginning of '17 but leaning more towards that it will happen after this election. i think that's within the major hurdle of getting past that election to finally do something.
but we might get a replay of last year. in december we had the rate hike, and the market didn't react positively to it at all. the market sold off significantly. january and february took us two and a half months to rebound, i think we might see that again. liz: yeah. i mean, a short-term fall. it's totally to to be expected, todd, but the fed starting to look like it might be behind the curve if it doesn't even have the ability to raise one tiny quarter of a percent. i'm less interested in what they're thinking, because they keep changing it, and more interested in what an investor is doing right now. you guys see flows of trading on the floor of the cme. what are people buying, what are they selling right now. >> hello, liz. i mean, right now they're very edgy right now. there are still some buyers coming in but, obviously, they're staying away from the financials for a very good reason, because until rates start to rise, the financials are going to have trouble making more money. so that's one of the big issues they're having -- liz: so don't you buy them cheap now? look, all of them are down.
why not buy them at this moment? >> you know i like to be a bear, but here i would be a buyer of the financials, especially like a wells fargo. i think those are are a value play, but you're seeing a lot of people buy on margin with money they don't have that they can't afford to buy. a lot of the money is retail money, not the wholesale, not the commercial traders. so you're seeing a real push up here at the end, and you saw a little bit of a pullback right down to where supports say we should have bounced from. i think that the fed will raise rates, and i think that they'll do it later in the year, but debt to gdp is a big thing to watch here. liz: well, the fact -- i have to say, alan -- part of the reason the market's making a comeback is oil names started to reverse. they had been down on a much bigger than expected build in inventories, 4.9 million barrels. that means much more supply. again, the price should be going down. instead, it's above $50 a barrel, we're at $50.49. and yet goldman sachs is out there saying despite possible cuts, the oil market is unlikely
to rebalance because the u.s. is still pumping as well, and we're not even part of opec. >> well, i do agree. i don't think we're going to rebalance, at least not just yet. i think we do have lower move here. but right now it's news-driven. so we're range-bound. so for myself, i'm not doing anything until we break $48.50 or on the upside, $51.77. overall though, i think we're going down. i think we've got a lot further to go. and natural gas, it's up at a high right now. it looks like it's going to be a big short, a scaled-in short right now.ly 4% at the moment. great to see you guys, john, todd, alan. >> thank you, liz. liz: anytime, guys. closing bell, we are 49 minutes away. we are watching the dow, now it's down only 10 points. here's what we call our dow heat map. all 30 game names in the dow
with merck at the top getting a buy rating from bank of america. coming up, jeff flock down on the range are as gun sales shoot up for the 17th month in a row are. he is going to tell us what's behind the explosive numbers this time. and the fake accounts banking scandal takes down wells fargo's ceo, john stumpf. charlie gasparino has the inside scoop on how it unfolded and what happens next. plus, rock and roll legend bob dylan the newest nobel prize winner. not sure wells fargo employees will be whistling tune as stumpf skedaddles for good. coming up. ♪ ♪
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generally the presages the next corporate move that discover stump of is out. the coo is probably going to become the ceo at the end of the year. liz: that's why we have this. it's a segment called charlie breaks it, and there it is. [laughter] tuesday charlie called it right here on countdown. two days after after wells fargo reshuffled its ranks, then we found out yesterday john stumpf is, i put this in quotes, retiring. i'm sure he didn't plan on that. steven sanger, director at wells fargo since 2003, becomes the new chairman. does this mean wells' troubles are behind it, charlie? >> i just want to say like a broken clock, you know? i get one right once in a while. liz: twice a day. >> hopefully right on twitter too. i will say this, there's going to be a lot more turmoil at this bank. liz: so it's not over. >> no, it's not over. now, think their senior management right there is set.
i think underneath them a lot of people are talking about moves, people getting whacked out. anybody that had anything to do with this scandal will probably get hit. and here's something else that i -- we're getting from analysts, my producer, brian schwartz, made some very interesting calls today that analysts are predicting and expecting from their sources, so they talk to people at the banks, some sort of major retrenchment at wells following this scandal, following stumpf's exit. they're talking -- one analyst, mike mayo, says he's seen he hi hi -- he thinks over a thousand branches could close. now, why are they doing this? they're going to go to a more automated system, limit the cross-selling interaction, take out cross-selling -- liz: automated? i'm nervous about that too. we don't want any robo-signings -- >> who knows? [laughter] maybe robots opening up dummy accounts, right? but i think what they're going to do is sort of retrench the bank, the branches, more control
of it and less human interaction that humans are vying for their bonus, so they open up these faulty accounts. that's kind of where they're going here. the tragedy of this, it's going to lead to layoffs. and i'm telling you, analysts are predicting a major retrenchment. if that's going to happen, the tragedy of this is, you know, it's not that management is being held accountable. they are, i guess, now. but now little people are going to lose their jobs, because they're going to crush the branch system because they feel that there's too much liability -- liz: more than the 5900, quote, little people who were canned trying to reach goals that the company had forced -- >> they were canned, and they hired people in their place. those jobs are done, the branch system. and i think that's what's going to happen. we should point out wells is doing quarterly earnings tomorrow. the new management, stumpf was expected to be on that call, by the way. liz: yeah. >> and they're going to be asked
about this retrenchment and the realignment and the restructuring of the bank that's going to focus, that's going to narrow down the branch system. that's going to be a topic. liz: he gets no severance are on this deal, but does he get something else hidden in some type of -- >> well, of course. he's got stock options -- liz: he already gave up some unvested, about 41 million -- >> right. i bet he walks out of this with a couple hundred -- with a hundred million, there we go. that's after the clawback. listen, these guys get paid in stock, okay? and when you leave, you get your stock, you can cash out. and that's what's going to happen here. this is a bank -- this is a work in progress. here's the thing. the other thing is if you can't cross-sell across banks, if washington screws the banks in that way, again, as they took them out of other high-profit businesses after the financial crisis, if you can't cross-sell on the retail side, okay, look, you're an average guy or woman, right? you're out there looking, do i buy bank stocks?
this is a warning. all the earnings are going to go down if you can't cross-sell on the retail side. so be careful. this is why we try to tell you there's two stories, the corporate story, the outrage, what happened here, how they're going to lay people off, probably close banks, but if you're a bank investor in these stocks, watch out, because washington is going to outlaw cross-selling which is a moneymaker, and it's usually done completely honestly. but because of the regulations here and the oversight, bank stocks are going to go down. liz: well, wells is down 1.5% today. charlie broke it, that's why you've got to watch. >> right here on "countdown," that's right. liz: closing bell or, 3d minutes away from ringing. dow is down 18 points. we're making a run for the flat line here. the red bulls are back. disney releasing the trailer to the next "star wars" installment, rogue one: a "star wars" story, the stand-alone movie is about the team tasked with stealing the plans for the
death star and is set before the original 1977 classic which i saw in westwood in 1977. disney bought the "star wars" franchise in 2012 for $4 billion. its first release, the force awakens, made more than $2 billion. so we say that's a big, great deal for them. and they don't have blasters, but more traditional weapons. jeff flock taking target practice live at a gun range in bowling brook, illinois. jeff? [gunfire] >> reporter: hi, liz. this presidential campaign has really brought people to the gun ranges. we're talking to them, and we'll -- [inaudible] when we come back. [gunfire] ♪ ♪ did you know there's a way to save up to 95%
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and have been rising past 17 months in a row. the move is driven part on the concern, whether unfounded or not, president hillary clinton would try to cut back on gun availability. jeff flock at a gun range in illinois, sold out of annual memberships because of increased demand. jeff? reporter: i am just amazed, liz, how much activity at this gun range. it is also a place where they sell guns as well. you see not only rifles but handguns as well. just tremendous increase, since the presidential campaign began, just happening on to people. this young lady here is a instructor. this is your pupil, is that correct? >> yes. good afternoon. reporter: just learning how to shoot. >> this is intermediate class. she is pretty proficient, get her to the next level. reporter: when you made you do this. >> when i got started. i got hooked on it.
i kept wanting to learn. i just don't want to just own something and keep it at home. reporter: take you out on the range. part of this is politics, right? >> our rights absolutely and woman's right to defend herself. i look at it as a sport. i look at it as law-abiding citizen i need to be able to defend myself in public. reporter: this driven gun stocks, liz, as you know, but in particularly, as i said in the last 15 months or so, we have had month after month, 15 straight months of increases. kind of put ear protection. you talk about women, this young lady here is also somebody who has just started in last three months or so. lori? i don't want to interrupt you there as you're shooting but politics is important to you. this campaign is important to you? >> oh, yes, most definitely. this campaign. reporter: because of guns? >> a lot of other things too. i don't want to lose my second
amendment nor first amendment. >> reporter: gotcha. let you get back to what you're doing there. pete runs this, managing partner of this range. you just opened this in february. invested what you say 6 million bucks? >> roughly. reporter: just because of tremendous increase in interest? >> actually a couple of my partners had the idea to develop this and make a shooting range out of it. so we took a look at the economics and it all looked very positive for us. reporter: and it doesn't hurt that this is a political issue that has spurred some people to action. >> absolutely. as we talk about some of the political events serve as a catalyst for these types of issues. especially for gun sales. reporter: leave you liz, with -- [inaudib [gunfire] [gunfire]
liz: think you clipped his ear. [gunfire] wow. jeff. did you hit the target? okay, okay. [gunfire] reporter: what can i say? i'm done. i'm done. not all political. some is stress management. liz: i know, listen, very interesting to go to a range. we'll see very hard, hand-ichord nation. good to see you, jeff, thank you very much. we're 30 minutes away. t-mobile ceo john legere never at a loss for words. not without his traditional magenta gear. he is bringing to a fox business exclusive how his company is dealing with the galaxy samsung 7 note disaster. donald trump may have his hands
full with latest round of groping complaints, 80 pages show clinton embracing wall street's dark side, while telling potential voters she is going after wall street. richard goodstein and michael goodwin live, whether latest blow to the clinton campaign is glancing or connects? don't go away. the dow is down 24 points. you can run an errand. (music playing) ♪ push it real good... (announcer vo) or you can take a joyride. bye bye, errands, we sing out loud here. siriusxm. road happy.
(announcer vo) you can sit in traffic. or you can crack up. (man on radio) but if it isn't refreshing... (announcer vo) sorry traffic, we laugh 'til it hurts. siriusxm. road happy. >> i'm lori rothman on the floor of the new york stock exchange with today's fox business tech minute. joining virtual reality race, sony rolling out playstation vr virtual headset. pliesed at $399. it requires a playstation 4 system and camera. this is the first major launch since it complete ad turn around in june.
bmw celebrating its 100th anniversary with the unveiling of motor vision motorcycle concept. the artificially intelligent bike contains self-balancing systems allowing the bike to remain up right as well as standing in motion. this is the fourth and last concept reveal for the german carmaker. russian billionaire businessman hoping to colonize space revealing plans for the first space nation. expected to join the united nations. keep it here on "countdown" for interview with t-mobile see joe john legere.
what we decided to do, focus since we're a business networks on ties to wall street. any comments on paid speeches to banks over the years. remarking to a law firm in san diego specializing in litigation on behalf of investors she said, quote, she represented and worked with some on wall street and did all she could to make sure they continued to prosper while senator in new york. she joked to a crowd in bold man saks in 30 -- goldman sachs that this those people were smartest group in the room. we have "new york post" columnist michael goodwin. richard goodstein. she supports wall street. that is fine. she sing as different tune to potential voters out there. that ask what bernie sanders complained about and questioned regarding her sort of talking out of both sides of her mouth. what does she do about this. >> well we know, first of all, it is odd, isn't it, that we are taking wikileaks, which was
reviled when it was snowden who was considered a traitor, putting things out into the public domain. now the trump campaign seems to be predicating its whole strategy on prayer there will be more ps. he is afraid of having his tax returns to come out. on merits, liz, the fact we know what hillary said as public policy matter before she ran for president. closing carried interest loophole. she was out there decrying possibility of subprime mortgage scandal on floor of nasdaq before it happened. she is talking about higher taxes on the wealthy. so if she is somebody who is a pawn of wall street, they're not doing a very good job of kind of having her under control. in contrast to donald trump who says do away with dodd-frank and go back to the wild west. we saw that what got us end of o 08 and into '09. liz: she said she wouldn't be against putting back glass-steagall which was
depression era rule that separated banks from investment banks. that kept us out of trouble for many decades until her husband allowed it to be dissipated. and along -- >> that is where the clintons began to hit the jackpot on wall street. supporting lifting of glass-steagall separation. that is when all the money came pouring into the democratic party. i would like to correct something richard said too. wikileaks and julian assange are not edward snowden. what wickly leaks done in this case, private email server, private email account, john prodesat that's release those emails this is not what -- >> arguably that is worse. at least snowed again was a whistle-blower. this is worse. this is a crime. >> snowden is whistle-blower and assange is what? this is the democratic party trying to flip the script. the democratic party one supported wikileaks until it started to turn on hillary clinton. suddenly wikileaks is bad now. liz: we also don't know if wikileaks is being helped by the
russians who are trying to impede this election. either way it is out there and it doesn't smell good, richard. but let me fast forward here. once again, the team clinton is out there, surrogates. we have michelle obama speaking today. president bill clinton and we know he has become a target because donald trump already spoke. it is quite obvious he kept using the word corruption regarding the clintons. how imperative are these kinds of things that she goes off the trail to prepare for the third debate? she has 27 days to fix this situation. and she is probably a little concerned or not about trump hitting her on her husband's infidelity? >> you know, if donald trump decides to run against bill clinton for president in some alternative universe he can run on this whole campaign. he is running against hillary clinton, okay? the fact of the matter is, talk about people in glass houses not throwing stones. we heard donald trump, we heard the real donald trump on that billy bush tape. now we're having all the women
come out of the woodwork, why? because they couldn't stand listening to him be up on the debate stage and lie about it. that is what the problem is. is she worried being 10 points, eight points ahead? i don't think she is worried about a campaign in 1998 was utter failure when it was centerpiece of the newt gingrich effort to reelect house republicans. >> both candidates are being exposed now. certainly women coming out about donald trump are painting a very unflattering picture of him, the tape, everything his own words. now the women coming out accusing him but i think wikileaks is providing something of the same kind of thing on hillary clinton. it is showing a side of her she wanted to keep private, that is now in the public. so i think it is a very strange campaign that we're having now about both, almost like x-ray machines of both of them. liz: boy, i don't like the skeletal structure i see. >> either one. liz: good stuff. thank you both, very much. right here on fox business we're going to be up all night next wednesday to give you wall-to-wall coverage of the
third and final presidential debate. maria kicks it off at 6:00 p.m., followed by "lou dobbs tonight," "cavuto: coast to coast." need i remind you fox business is your source of 2016 election coverage. closing bell, 19 minutes away. dow jones industrials down 23 points, but much better than it was. what a year it has been for twitter. the embattled social media giant has seen its stock plummet 40% as it has struggled to find a buyer. it is amazing, with millions of people using twitter every day the company still can't show a profit or sell itself. boy, if only twitter got a penny from every follower? this guy has a stunning 3 plus million users. perhaps jack dorsey and company could make a pretty penny off him and his followers and the process. the big reveal. ceo of t-mobile, john legere on his exploding twitter dominance as ceo. how he is handling the samsung
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store for full refund plus a $25 credit. speaking of t-mobile, its always outspoken ceo hit a major twitter milestone this month. his account has more than three million followers. putting it into perspective that his rival has 136,000. that is more than i. john, wow, joining me fox business exclusive ceo of t-mobile usa, john legere. three million is a big mark on twitter. why do we make a big deal of that. a lot of ceo's don't have anywhere near that. what do you attribute whcreate s
certainly just spoke very nicely toward its positives here. look, i want to get to the samsung galaxy note 7 debacle. have you had a lot of returns? can you hear me? >> yeah. i'm getting every other word, liz. i know the topic you're on. let's try to am bell on. liz: galaxy note 7 and returns coming in. number one, in what numbers are they coming in? we talked about the refund that you're giving people but also, whether it meaningfully hurts your bottom line for the quar let me just say a couple things. the note 7, and samsung recall issue is major major event and i think what we did, we led the way in being sure that we err on the side of safety for our customers. samsung has now certainly ceased production.
what i would say is, about samsung, samsung is a great company with a great following and if you're going to recover from this, the first steps they're taking are the right steps is, to to err on the side of customers. get devices in. give full optionality to all of your customers and they have come forward now with a, an extra incentive to have samsung customers switch to another samsung device which is $75 credit from them and 25% off the bill. liz: right. >> i would also say, liz, it is, there is a lot of other great devices out there as well that customers can choose, not just the iphone 7, google pixel i have one here. so that works beautifully on the t-mobile network. liz: not just verizon? verizon says, i think people are confused that they can only exclusively get the pixel there. you have one in your hand? i assuming you sell them? how are sales of the pixel?
>> i do have one right here. exe distributor. ie, like what at&t did with the amazon fire phone which really worked out so well. but i would say google was smart enough they have created opportunity for customers to buy the device direct from google and use it on whatever network you want. it works beautifully on the t-mobile network. but exclusivity is another of the crazy 1990s things that verizon did, like buying iconic then attempting to do these but, no, it's a great option and people like the google device. come on, bring it over to t-mobile. liz: making a reference to them buying part of yahoo! which turned out to be a problem considering yahoo! endured the hack. there is actually news about that. sound like they want a discount, john on yahoo!.
those are marketly important developments. let me ask you about the iphone 7 and those sales. this galaxy note disaster certainly helps apple and maybe even pixel. but are there favorite aspects of iphone 7? everybody talked about the waterproof part but that balances out with the airpods people are not so thrilled about. have you thrown one into the water? could be a new party game, liz, where i have to guess the question that you're answering, asking. if it was anybody else except you. liz: i am so sorry. >> i do understand the topic about iphone 7. let me make a comment or two about iphone, which is, the iphone 7 launch was by far most historic @ t-mobile. at first day of launch we had our biggest device sale day ever. liz: wow. >> i wouldn't correlate, you
know, a inverse correlation between the issues samsung is facing to an apple upside. there is a lot of people that are very committed to the android platform. they have got optionality. it is too early for us to know recall number two, note 7 users will do. liz: okay. i think just on that, you know, apple's stock and strength should be supported. liz: right. and you're pretty agnostic. you want everybody to do well because you sell everybody. i hope you hear what i'm about to say. since you took over, in september of 2012, that stock is up about 650% for t-mobile. so you're doing something right, mr. ledger.
thank you so much for joining us. sorry what we call the ifb problems. we have the earpieces here. sometimes they function. sometimes they don't. i think we got through it. thank you. congrats on 3 million plus twitter followers. >> liz, congratulations on all your success, for anybody else i would have claimed i couldn't hear. we communicate well enough i hope we got the major questions in. liz: we did. john legere, t-mobile ceo. by the way you visit lizclaman.com for today's "claman confidential" with john legere. talking about his twitter war with donald trump. if he sees a sale in the near future? he is standing alone just fine. dow is fighting to hit the flat line. down 52 points. so much for that.
market showing resilience. can't seem to make it there. doesn't matter to you. what are you doing with your clients money? >> we're buying now. history in the election years the market takes a little bit of a dip before the election and bounces back to the end. we're seeing this as buying opportunity. risks are loy. thing we're loading up truck are smaller cap stocks, cheaper and better earnings and started to see price performance and they have lagged for so long, that their time has come. liz: saying russell 2000, smaller companies. but in that vein here you could drill down don't buy best of the best, maybe buy some of the worst of the worst because they will go from worst to first? >> that is sometimes the case. what is happening this year is totally upside down of the worst stocks are up by our measures using that methodology on valuation, earnings and relative strength, they're up 35%. the best are only up .8 of a percent. we think a reversal is coming. buy the best of the best of the
best, i think you will be rewardedded with quality and much better shape next year. liz: barry james. $7 billion man. [closing bell rings] over at james investment research. glad to have you here. you could still call this a comeback because at the lows of the session the dow was down 184. we're set to close down just 42. let me get it over to david asman and melissa francis for "after the bell." david: stocks coming back from big losses as liz said. looks like we were go to the flat line or maybe positive but pulling back at very end. i'm david asman. melissa: i'm melissa francis. this is "after the bell." we have you covered on the market movers but first here is what else we have for you at this hour. donald trump lashing out at media and his accusers, threatening to sue "the new york times" and calling the latest sexual assault allegations are outright lies. he has evidence to prove it. wikileaks continues to release