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tv   After the Bell  FOX Business  July 18, 2019 4:00pm-5:00pm EDT

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they aren't accessing all of off to get a little more cash. is a developing story. your photos. melissa: one step closer in the they are really not doing five for 15. anything that if you ever read [closing bell rings] liz: good to see you, jb the house voting 231-199 in another terms of service that favor of a bill to increase the mckenzie of td ameritrade. everyone else is. minimum wage to $15 an hour, a connell: there are concerns because they are russian. susan: i'm going to disagree slightly lower dow jones, not a measure some say could bad day with so much news. negatively impact the fast-food with that. the bulls hang on in some shape industry if it ever makes its >> -- is owned by a chinese or form. that will do it for the way to the president's desk. company and the exact same rules apply. the minute you do this, the "claman countdown". minute you call the fbi on some discussing with me, the ceo of little developers because they happen to be based in russia, melissa: the only u.s. company fat brands. you are going to have to start thanks so much for joining us. looking at every single worth one trillion dollars will what does this mean for developer all over the world. release its result. connell: you guys -- fast-food restaurants in microsoft will report earnings general? >> it means rates are going up, susan: i want to quickly get any minute. we'll bring you the numbers just prices are going up. there, there is imbedded data that is the bottom line. that goes with these photos like as soon as we have them. the operators don't have the the dow fighting for gains at margin to absorb a minimum wage location, device and also the the close, ending up a whopping size of the image. think of what you can do with one point, almost two if you increase to $15 without raising location data. prices. drone strikes have been round up, amid heightened melissa: is that the only answer initiated with that. or might you see fewer people tensions with iran, optimism for connell: real quick, i want to rate cut. i'm melissa francis. employed? >> well, look i think technology neil: i'm connell mcshane this go on the u.s./china trade war a little bit. this moves the market a lot. helps in some way but i have the markets were up and down, all over the place but huawei is "after the bell." want seen technology make restaurants was one of the issues early in more efficient for example, in the day because a number of the delivery mechanisms, all the senators announced plans to introduce a bill restricting delivery uses technology to have
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huawei from buying or selling more through-put. u.s. patents. that won't change the labor mitch mcconnell was on with costs. there are kiosks, some maria earlier in the day and he to look at netflix following the restaurant will use those, by talked about it. and large everyone will not go skip that for a moment. to a kiosk to avoid a employee just so i can get comment from massive subscriber miss we you on it, lance. reported to you on at the front. mcconnell and a number of others "after the bell." there is a little bit of it, in the senate, when he was on melissa: that was a disaster. wages are unavoidable. with maria, he talked about this, they really want to go if this gets passed, prices will after huawei. he said today on fox business at the white house president trump wrapping up meeting with go up period. they see it as a true national melissa: what difference does it make to have the wage mandated security concern. it's clear the president airline ceos. at federal level opposed to doesn't. he's talked about it as a connell: anytime we get bargaining chip in the trade doing it differently in each microsoft as we wait. negotiations. how do you see this playing out? erin gibbs, gibbs wealth market because some places like >> i think honestly, i'm not new york it is already $15 an sure you can have it both ways. management. jeff sica, circle squared and they either are a threat or they hour? >> i agree with you. are a bargaining chip. lance ulanoff here today. some places it will not make a to try and have them both at the bit of a difference. some places, smaller towns, same time doesn't make sense, tech expert extraordinaire. because basically, huawei has states you don't have higher been trying to grow a u.s. base let me go to you lance, wait for cost structure, it will be a for a long time. real problem, a real problem. it is not in their best interest numbers, don't see them yet. melissa: i don't want to change to be spying on american could be any minute from microsoft. it would be almost a surprise if customers, when they are really subject, fat brands, i thought just trying to win against apple it wasn't quote, unquote a strong number. it was funny, has gone into we're looking past at last kate impossible meat. and samsung. but you know, we kind of felt have you already rolled that out quarters. or are you just thinking about like we were getting close to a everyone microsoft had deal where they would have a better-than-expected earnings. it and i can't imagine going to seven of the last eight it chance to operate in the u.s. a fatburger, grown up in l.a., i but -- connell: i don't think that's looked deeper in revenue. going to happen. >> it may not. the cloud business, what do you love fatburger, ordering a connell: susan, lance, thanks.
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non-meat burger? something very important to get >> yeah it is interesting. to. we launched, so fat brands, melissa: biggest story of the expect? it will be story of this. day. dream come true for hot dog what really been driving fresh authentic tasty brands. microsoft's growth. we have seven different brands so funny to read headlines, enthusiasts. in the portfolio today. oscar meyer offering a chance to microsoft is the hottest we launched four impossible stay on its wienermobile company. foods years ago in our fat connell: let me interrupt you, overnight. burgers it, received very well, fans can book the 27 foot long lance. give you a headline. brought in a whole different hot dog on wheels for $136 a gerri will dig through them. they beat the street on customer. you're right. earnings. adjusted number of $1.37, better night on airbnb. the company offering a mini people come in say, i didn't fridge packed with hot dogs know you had veggie burgers essentials and a hot dog which we had on the menu, were inspired onesie to snooze in. than $1.21. perfect for connell. connell: thanks for joining us. revenue, revenue better than selling 250,000 veggie burgers and now selling a million "bulls & bears" starts right now. 37 billion. gerri will interrupt you again impossibleburg years are you once she gets more figures on selling fewer beefburgers? breaking news. shares of tech giant microsoft cloud. that is what we expected better >> no, eight years in a row climbing nearly 1.5% in reaction positive same-store sales increase. they have been driven by to its fourth quarter earnings than expected forecast figures. report just released in this delivery and impossible burger. last hour. >> better numbers on azure. we will have all the details and some beefeaters will alternate the numbers you need to know coming up. we expect that will be big once in a while from one to the growth driver there. certainly, windows oem, other. it also brought in a customer they didn't even know they could a vote for any democrat in installs, that has been trailing 2020 is a vote for the rise of off business, even with a tiny get plant-based protein in bit of pc growth year-over-year, fatburger. >> did you try it? did you like it? radical socialism and the
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it will not be the story of tell us the truth. destruction of the american >> it's a great product. dream. this. connell: you think cloud it is really the build of business is better than theburg ir. frankly, the destruction of our you have all the toppings you country. put on a fatburger. instead it is on a impossible lauren: president trump slamming forecast? progressive democrats in the foods patty instead after beef 2020 field and sounding the alarm on what he's calling the intelligent cloud, 11.39 billion. patty. rise of radical socialism. gerry joins us from the stock otherwise it tastes much the same. it is good alternative. melissa: i know fish is next. exchange. at first glance, gerri, this looks pretty good for microsoft. andy, thanks for coming on. >> so good to see you. connell: we believe him. melissa: he didn't really say he >> i tell you it does look pretty good. liked i. eps bottom line, $1.37. he said if you put all the other stuff on it almost the same as you said the estimate was thing. i think that was a honest dodge only 1.21. which i appreciate. pretty spectacular there. connell: an honest dodge from a guest. revenues at 33.7 billion. sounding the alarm on face app seems to be all the rage, this that is a beat as well. last few days, this cloud revenue, this is main part, this is the big kahuna for russian-owned selfie tool. it ages your face. some say it poses a security microsoft. cloud revenue, azure business risk for use years why would you do it if it ages your face, 11.39 billion that ace revenue number. it was expected to be connell? it. connell: it is fun. 11.03 billion. so they beat that number. melissa: nothing fun about that. connell: overnight stay in a not by a lot. giant hot dog. just a little bit.
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oscar meyer's first ever offer to dedicated fans. we cover it all here. we'll be right back. returning 7.7 billion to melissa: we really do. shareholders and dividends. that is a big headline for ♪ microsoft. only trillion dollar company in the u.s. at this point, reporting very positive earnings announcement. but this year, there's a more thrilling path to follow. as you saw we came into the earnings announcement, the president said he would be (father) kids... reviewing this this pentagon ...change of plans! (vo) defy the laws of human nature... ...at the summer of audi sales event clough account given to amazon. get exceptional offers now! linkedin, revenue rose 25%. i think that is pretty much due to my producer down here using hey, who are you? it all the time. oh, hey jeff, i'm a car thief... what?! that is a big positive for the i'm here to steal your car because, well, that's my job. company. positive upbeat earnings for what? what?? what?! microsoft here. (laughing) what?? we'll see that after-hours what?! pretty handily. what?! melissa: services revenue rose [crash] what?! haha, it happens. 6%. that is another one we're talking about. and if you've got cut-rate car insurance, gaming revenue fell 10% for the paying for this could feel like getting robbed twice.
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so get allstate... quarter. connell: erin gibbs jump in on and be better protected from mayhem... this. one of the things for microsoft, like me. in recent history, this wasn't ♪ always the case you about in recent history they really raise when crabe stronger...strong, with new nicorette coated ice mint. ed the bar under satya layered with flavor... it's the first and only coated nicotine lozenge. for an amazing taste... ...that outlasts your craving. nadella. stock is up 37%. new nicorette ice mint. i will borrow gerri's language on some beats, the numbers were not all good. beat by a lot on some of these things. the stock is up 1%. what do you think about the microsoft on present day given gains we've already seen? today's senior living communities have never been better, >> the company been consistently with amazing amenities like movie theaters, exercise rooms delivered in a lower double-digit growth, but even guidance for next year, for and swimming pools, public cafes, bars and bistros their fiscal 2020 year, we're still looking 11% top and bottom even pet care services. and there's never been an easier way to get great advice. line. this is above the industry a place for mom is a free service average both historically, going that pairs you with a local advisor forward. the fact they have been able to to help you sort through your options so consistently beat, they have
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their pocket areas of growth. and find a perfect place. they have really turned this a place for mom. company around. you know your family connell: really have. >> i like it here. we know senior living. connell: they really have. together we'll make the right choice. jeff, your thoughts on microsoft? >> i agree with a lot, what everyone is saying. who used expedia to book i think also with microsoft, the vacation rental keep in mind is, here you have which led to the discovery the only big tech company that that sometimes a little down time doesn't face serious antitrust can lift you right up. expedia. everything you need to go. issues. microsoft played that game 20 years ago, they got through it and survived it. going forward with the growth we're seeing there are definitely great days ahead for microsoft that. >> is interesting. been there, done that, with antitrust issues, lance a lot of big technology companies are dealing with. even on the pentagon issue that gerry brought up, we heard from the president today, to hear him tell it he got complaint from microsoft and oracle. pentagon, the shoe was on the other foot when it came to large
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technology companies. >> completely different strategy with nadella. he is about microsoft products on any screen, any plat perform 24 this helped him windows is most used operating system in the world. it is still not the story. if went to microsoft build, in the spring they didn't talk about windows but talk about everything else. they're playing a smart game. not getting into muddy waters. they look better to the expedia. administration, because the adminstration doesn't seem to on to the next job. like amazon very much. certainly good news for microsoft. connell: if there is any the next challenge. question, erin, you can jump on the next place. this one, the question is, can on to the next level. you keep it up? if on the cloud side, they were able to beat estimates for and all the rewards that come with it. another quarter, how long can the all-new ram 1500.
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that keep going in terms of motortrend's 2019 truck of the year growth rates. eventually growth rates in cloud everything you need, part of the business will start to get on to bigger things. to slow, right? >> we have seen a slight slowdown. one thing i'm looking at, particularly for the guidance for 2020, making sure gross connell: calling for an investigation, senator chuck schumer today says he wants the margins say 65.3%. fbi to look into this popular again it is phenomenal. if they keep that up, even with face app which in case you don't increases cap-ex, that says they know is an ai powered selfie app can keep this up for another year. connell: go ahead, melissa. that's being accused of melissa: no, it is interesting, collecting and uploading users' you talk about the guidance. data to the cloud regardless of you usually see that cross. consent. susan li joins us with this. i'm not seeing anything on that. lance is back as well. that is an interesting point. we were talking about this yesterday. connell: we'll dig into the release deeper maybe wait for melissa has no interest in it. the call. with a large company, i haven't i thought it was funny, i got to seen anything like this, maybe admit. i got a kick out of it like a we're digging for stuff, jeff, lot of people playing around see what effect will be of the with it. now a number of people are up at trade war. arms. it's a russian company and they if they say anything at all think what? about business and sales for susan: well, it's been around since 2017 but didn't go viral china, is right? >> exactly. until the likes of lebron james, the companies are relying drake and even the jonas heavily on china. microsoft is probably, they do brothers started doing it. it's been around since 2017. obviously have china exposure. it uses artificial intelligence
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they will probably reveal a lot to manipulate those photos. it's not a filter. more. it's a lot easier to companies people really got a little that rely on component like concerned when they looked at apple to determine what their the developer called wireless exposure is. microsoft still has to grow in labs based in russia. the cloud area. they say they have no they are catching up to amazon affiliation with the russian government, they don't transfer the data to russia but speaking and one of the areas that they need to grow is china. with cybersecurity experts, they let's see what they have to say. say if it's a russian company, let's see if they can keep up these revenue numbers. the russian government has access to anything they want. keep in mind, this is a company when you download this app, have you noticed the long terms and that does substantially more conditions? they are pretty far-reaching. revenue than amazon does. so they have a lot of firepower they use words like irrevokable. to endure a decline a lot of tech companies may not have. connell: guys, what we'll do, for celebrities, that means they we'll come back. don't get any royalties. that means they can use your first, second, maybe third real name, user name and glance, just about everything we saw from microsoft looks solid. likeness. think about what they can do. we'll dig through it, wait for they can build a data base. the call, look at some of the guidance figures come back to later in the show. building a data base of what you erin, lance, you come back for a look like young and old, that's a pretty serious security segment later. thanks, guys. melissa: breaking news on iran, concern. connell: the pictures president trump announcing a themselves, you are the expert on the tech stuff, i guess the u.s. showdown, a shot-down pictures, if i was to google
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susan li and hit images, i'm iranian drone in strait of sure a bunch of pictures would pop up. hormuz. but she looks like she does now. blake. reporter: commander-in-chief she wouldn't be older. what do they actually have announced this, u.s. quote, access to and should we really unquote, destroyed an iranian be concerned? what's your take on this? drone. president saying that this >> well, honestly, no. first, i am impressed with their happened in the strait of hormuz. he said that this iranian drone ai. it's an incredible piece of artificial intelligence used to was going about 1000 yards or so ma away from the u.s. boxer, it ignored multiple calls to stand down. this was the president just a little while ago. >> this is the latest of many provocative and hostile actions by iran against vessels operating in international waters. the united states reserves the right to defend our personnel, our facilities and interests and calls upon all nations to condemn iran's attempts to disrupt freedom of navigation and global commerce.
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reporter: speaking of the military, president also expressed his reservations about a potential 10 billion-dollar cloud computing contract will be handed out by the pentagon. amazon is seen as the leader to win that contract but the president says that he has been presented with many concerns. >> we're getting tremendous, really complaint from other companies and from great companies, some of the greatest companies in the world are complaining about it, having to do with amazon and the department of defense and i will be asking them to look at it very closely. reporter: by the way, melissa, we believe at the white house a meeting is taking place between the president, vice president, and executives from airline companies. you can see there, the ceo's of american, united, jetblue, fedex, atlas air and qatar airways meeting with president trump. we are told that transparency and competition will be the subjects of discussion here.
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melissa? melissa: blake, thank you for that. connell: also today disney firing back at abigail disney's criticism saying her statements are quote, unfair and libel oust. reporter: she is the granddaughter of roy disney, she was livid after visiting disneyland last year, more specifically about the pay practices with the company. this came out yesterday. disney fired back with their own statement. we generally avoid commenting on base le reports. this is particularly egregious and we won't let this stand. we strongly disagree with this characterization of our employees and the experience at disney this is widely reported stunt is a gross and unfair exaggeration of the facts that is not only a misrepresentation but also an insult to the thousands of employees who are part of the disney community.
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two major words there. you have insult and stunt. abigail disney visited disneyland last year. she will look further into the investigation. she complained bob iger, the ceo has received $66 million in pay. that is 1424 times the median salary of an average disney worker. so she is saying it is grossly unfair. that is who you're seeing on your screen right now. that statement was actually much longer. disney responded they pay their theme workers $19.50 an hour, which is much higher than average. overall if there is any type of catch the "new york times" did.out that abigail disney is also slowly starting to work on a possible documentary about income inequality. it follows into her theme park. she is very wealthy. she is part of the patriots millionaires who support increases in minimum wage to $15 by 2024. she supports higher state and
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corporate taxes. disneyland still the happiest place on earth. connell: i always thought it was "studio b" here on fox business. >> oh, so good. connell: kristina. good stuff. melissa: elizabeth warren's next target, wall street vampires. huh. the democratic candidate taking aim at private equity firms for looting the middle class. critics warn the potential could backfire on you and your wallet. connell: your privacy at risk again. the popular age yourself face app could put your data in the hands of that russian startup, doing so without your consent. that is coming up. ♪ fisher investments tailors portfolios to your goals and needs. some only call when they have something to sell. fisher calls regularly so you stay informed. and while some advisors are happy to earn commissions whether you do well or not. fisher investments fees
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connell: breaking news, microsoft's stock price is up in after-hours trading. we told you earnings and revenue both beat expectations fueled by growth in the azure product, its cloud services business, which again topped expectation. the stock is up a little more than 1%. we'll stay on top of it. melissa. melissa: president trump announcing in the last hour that a u.s. warship destroyed an iranian drone in the strait of hormuz amid heightened tensions between the two countries. let's bring in chris harmer, a retired navy commander.
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thank you for joining us. what do you think about this? i would better ran said they were flying around minding their own business and not a threat to this warship that shot down the drone? >> i'm sure what iran will say. reality because of rapid expansion of technological capabilities of unmanned aerial systems or drones the united states navy pushed back against the iranian practice of close surveillance. a drone can be used for two things. it can be used to surveil a ship or attack a ship. if you're turning it into a suicide drone, it doesn't have to release weapons t could dive into the ship. the united states made clear to the iranian navy, keep their drones away from our ships he specially going through constrained waterway like strait of hormuz. unfortunately wees can lated, but it was necessary, inevitable, on the constant of
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iran harassing our ships. melissa: are there rules where you can fly over the fly zones over territories? >> general practices like responsible nations won't harass ships going through an internationally navigable waterway. international law is clear. the law of the sea predates or preexists a lot of legal definitions around today but for time in memoriam, if a ship can transit internationally navigable water it has a right to innocent transit. the united states navy exercises that right on regular basis into and out of the persian gulf. the only into and out is the strait of hormuz. iran navy constantly harass us. with expandability of drones to include combat operation this is was necessary move by the united states navy to pub bark, you can't do that anymore. you can't fly close to us with
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dual-use drone. melissa: what do you think their response will be? >> i think the irrainsians will make a big deal about it. they will say something at the u.n. they will take any chance to paint the united states as aggressor. we're reacting to iranian aggression. it is hard to restrict the growth of that escalation. the iranians tweak us, make us overreact. what they are looking for overreaction from the united states navy. this was in fact a measured response. shooting down a drone 1000 feet or 1000 yards from a u.s. navy warship is a measured response. it is not an overreaction. >> chris harmer, hope you come back soon. unfortunately i think there will be more of this. and we need your insight. >> i will. connell: something with iran almost every day. a legislative win when you report on with the democratic party the house voting to raise the federal minimum wage for 15 bucks an hour. that heads to the senate for a
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vote. could the move backfire on businesses? we'll talk to the ceo of fat brands. that is coming up. acting home lap security secretary kevin mcaleenan facing tough questions from the democratic leaders on conditions of the migrant facilities at the border. we're live on capitol hill with the latest on that. drive safely.. . with drivewise. it lets you know when you go too fast... ...and brake too hard. with feedback to help you drive safer. giving you the power to actually lower your cost. unfortunately, it can't do anything about that. now that you know the truth... are you in good hands?
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melissa: intensifying. acting homeland security secretary kevin mcaleenan testifying before the house overnight committee today as both sides of the aisle are battling over conditions at the border. hillary vaughn on capitol hill with more. reporter: congresswoman alexandria ocasio-cortez one of those democrats that really nailed secretary mclean nan over culture at cpb. she tried to tie the president's policy of separation to dehumanizing culture at cpb,
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tried to say that is what really caused the facebook group with thousands of cpb agents that involved several racist and sex it attacks against herself and other female lawmakers. >> so you don't think that having 10,000 officers in a violent, racist group sharing rape memes members of congress voiced to dehumanized culture? >> those posts are unacceptable. they are being investigated. i don't think it is fair to apply them to the entire organization. reporter: the secretary was asking congress for still more funding. he wants there to be amendment to the flores agreement that prevents law enforcement detaining children longer than 20 days. that agreement triggered a surge at the border. >> you want to keep them longer. it last been very clear from this administration, you want keep kids longer.
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>> we want to keep families together. reporter: congressman mark meadows in the committee says he wants to push for more funding within a week for cpb to build more facilities to improve conditions that these children and families are being detained in. melissa. melissa: hillary vaughn, thank you for that. connell: let's stay in washington. odds of bigger than expected interest rate cut by the federal reserve helping to turn the dow positive in the last hour of trading today. our own liz claman pinned down the number two man at the fed, richard claire reed whether he believes the economy is closer to rate cut. whether the fed is using up weapons it might want to save for real emergencies. he joins us from d.c. we were talking about how there are a number of crosscurrent in the market today. this interview was one of them no doubt. >> definitely. it started hitting the wires the minute he began speaking with us on fox business. connell, to be sure before our exclusive interview with fed
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vice-chair richard clarida, it was expecting a rate cut at the july meeting which is july 30th, and 31st, if you look what the markets were expecting before the interview, the fed funds futures give us odds of 50 basis point rate cut, that number before he began speaking was 50%. so a 50% chance. look what is morphed to since that interview. we have spiked to odds after 50 basis point rate cut up to 70%. that is climbing. a few minutes ago it was at 69%. what did he say that juiced the markets in this regard? let me give you some headlines. he sees the u.s. economy in good, strong place and uncertainty increased and when i pinpointed him down on this, trade he had had wind, trade fights, trade battles are definitely elevating the issues here of uncertainty. he said you don't want to wait
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until the data turns so bad, that you definitely need a whole bunch of rate cut. so, he said that is why one would consider a rate cut. so it is very important to note that while he wouldn't come straight out, say we're definitelying doing it, we have two more weeks until the meeting. more data will come in. it may be better than expected, may be worse than it expected. immediately to hear him say that, the markets took what he said, read it, you will see a rate cut, spiked the chances of a 50 basis point cut. he did not say that would be it but that is the odds at the moment. you can check it out on foxbusiness.com. richard clarida is the number two man at the fed. people really listen to him. he is a voting member. connell: we see that with the reaction. liz, great interview. see you back in new york. liz claman. melissa: good stuff. that is what charles payne has been saying. i don't think a lot of market was convinced. liz's interview locked in the
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idea that they're trying to be proactive. connell: say more than 70%, most people think that, which is a lot different than where we were. yep. melissa: democratic presidential hopeful elizabeth warren has another plan and wall street isn't going to like it. we're breaking down the details. that's next. connell: calling it a national security risk for millions of americans. senate majority leader chuck schumer is urging the fbi to investigate the new social media trend, face app, how you can protect yourself and your family coming up. melissa: have you seen this? look at that! how crazy is that! off the southern coast of england, they discover ad human-sized jellyfish. liz daily and her partner dan, estimate the sea creature was almost five feet long. something they have never seen before. i hope i never see in person. connell: no. melissa: i don't want to see that. but i like it on tv. ♪
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♪ mmm, exactly!ug liberty mutual customizes your car insurance, so you only pay for what you need. nice! but uh, what's up with your partner? oh! we just spend all day telling everyone how we customize car insurance because no two people are alike, so... limu gets a little confused when he sees another bird that looks exactly like him. ya... he'll figure it out. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ connell: more breaking news. we just heard from boeing. and the company says because of the prolonged grounding of 737 mack jet, it will affect earnings. it is supposed to report earnings 27th of this month. it will take a charge of about because of the grounding of $5 billion to compensate 737 max passengers. the stock is up a little more
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than that in after-hours trading. boeing will book a 5 billion-dollar charge to compensate the 737 customers. that is just in from boeing. all right, now -- targeting private equity vampires. senator elizabeth warren rolling out her stop wall street looting act, that is what she is calling it, looking to curb some of these firms impose long-term pain on the companies they buy, paying for their workers in exchange for short-term profits. her focus on economic issues seems to be helping her politically against her democratic rivals. she has been steadily gaining in the polls, placing firmly in second place in the "wall street journal" nbc recent poll. we're joined to break down senator warren's latest proposal, dan mitchell, center for freedom an prosperity. old joke, that senator warren has a plan pretty much for everything, in this case taking on private equity. anything of merit here?
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anything you would say would be a real problem here? we can talk about carried interest in a moment. as i said coming in, basically saying these firms, they're coming in there, looting these companies and workers are losing out. what do you say? >> i don't think senator warren understands the economics of wall street. wall street is just a named symbolize america's capital markets. what do those capital market do? they efficiently, competitively allocate investment around the country and for that matter around the world and guess what? every economic theory, even socialism that is what drives higher living standards over the long run. so the notion that she wants government to come in and control and regulate and intervene and micromanage those capital markets, i guess inside of the democratic primary where everyone is competing to be the most socialist they can, maybe that works but i shudder what might happen to the connie if she did these things. connell: you say there would be
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negative effect. she wants to take regulations that president trump took off, put some of those back on but to the earlier question i was about to ask, where she might have common ground with the president, on issue of carried interest. private equity managers taxed on income that they make. here is president trump back in the campaign talking about that subject. let's listen. >> as part of this reform we will eliminate the carried interest deduction, well-known deduction, and other special interest loopholes that have been so good for wall street investors and for people like me but unfair to american workers. connell: none of that happened. in tax reform the president as he said at the campaign at least wanted it to happen. wanted this income to be taxed differently, what is your view there? >> i'm on a different side than both warren and trump. carried interest is simply a term for the capital gains an
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investor earns, if he shares some of this, in effect reward for fund managers called carried interest. it is a capital gain. frankly under good tax policy, which is what many countries like singapore, do, you shouldn't tax capital gains at all. i don't want more double taxation. connell: tax at lower rate. i wish we had more time, dan. we have more breaking news. appreciate it. >> more breaking news on boeing. go to gerri willis with the details. reporter: raft of headlines on boeing coming after the close. the prolonged grounding of the 737 max is weighing on their financial results. as you said before they will take a five billion dollar charge to earnings when they report their second-quarter earnings, very big change. but i have to tell you investor like this. they like the fact this is getting washed through the income statement. they will book the charge in the second quarter but pay it over years. this is to compensate people whose families lost folks in the
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crashes of those 737 max jets. it is also the continued lower 3737 max production rate. to compensate for that. the increased 737 program costs will reduce the margin of the 737 program in the quarter to and future quarters. bottom line, boeing taking a charge that will result in 5.6 billion reduction of revenue and pretax earnings. we'll see how that plays out. for tonight it is good news for boeing. up 1.35%. back to you. >> gerri, thank you so much for that. posing the a danger to the community, a district judge rejecting jeffrey epstein's bail request, ordering the financeer in jail while waiting for his trial on sex trafficking charges. let's go to fox news's bryan llenas at the new york courthouse with the latest. bryan? reporter: judge richard berman, at the heart of his decision to
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deny jail for jeffrey epstein that he would be a danger to others and to the community. he refers to the thousands of sexually explicit nude photos and minors found in his new york city mansion. he cited compelling testimony from annie farmer, courtney wild, two of epstein's accusers who spoke out at court, expressing their fears, that epstein would hurt girls and intimidate other potential victims and witnesses from coming forward. >> only by taking away the freedom of jeffrey epstein can we restore the freedom of these victims. they have been living in fear and intimidation sense the day they were abused by him. now he is in jail. reporter: in his decision judge berman cited evidence that epstein intimidated witnesses and hush-money he paid to $350,000 coconspirators days
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after they were mentioned in the "miami herald" bombshell investigative story last fall. the judge also agreed with prosecutors that epstein is an extreme flight risk. on the other hand epstein lawyers made it clear they would pay any bail amount and agree to any kind of restrictions to make sure he would spend his time on house arrest inside of his mansion. in the end berman said there was probably no bail package that would have been adequate for him to have allowed him to be free on bail. melissa? melissa: bryan, thank you. connell: we have news on minimum wage, minimum wage warfare as the house calls it fight for 15. some in the fast-food industry are responding to that. making a comeback, more than a year after the chain closed all its u.s. stores, shoppers will once again shop in a toys "r" us store this holiday season. they are planning to open up two permanent stores in november. one in houston. the other in new jersey. the store's owner, true kids brands, revealing the locations
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will have interactive and playground environments. how about that? the toys "r" us comeback. we'll be right back. prevagen is the number one pharmacist recommended memory support brand.
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