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tv   The Claman Countdown  FOX Business  August 6, 2019 3:00pm-4:00pm EDT

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alone it's going to go on and make modest new highs, in my opinion. charles: jim, jackie, thank you both very, very much. appreciate it. the d is up 237 points. it was a lot worse today. liz claman, you will have another wild hour. i can feel it. liz: always. that's why people have to join us. the markets hit session highs just minutes ago. i will give charles that credit. the number to beat, a gain of 313 points for the dow. we are up 240 right now. but even that isn't very strong of a jump and it's certainly not enough to erase half even of yesterday's 757 point loss. that loss took 2.9% off the blue chips. the nasdaq shed 3.5% after china allowed its currency to weaken below a key level. when all was said and done, total market losses in the aggregate came in at $950 billion, the worst since december 4th of last year. in this final hour, we've got trade-sensitive stocks leading the rebound.
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we will name them for you. the dow is about to snap a five-day losing streak, six for the s&p and nasdaq. but it's not just stocks that are bearing the brunt of the trade war that shows no signs of coming to an end. look at these mountains of hurt. one of the unintended consequences of the trade war between the u.s. and china, recyclables. here in the u.s., china used to scoop it up by the ton. they are now piling up in cities and towns. enter the american maker of wood alternative decking material. the ceo is here on how he's turning trash into treasure and his stock price is the goal. plus disney versus netflix in that streaming battle. apple's soft launch of its hard card. charlie breaks it. less than an hour to the closing bell. let's start "the claman countdown." liz: we are just getting some
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headlines from at & t. look at the stock at the moment. it is suddenly climbing to a high of the session right now, up about 1%. here's what we know. the chief financial officer is apparently providing an update to shareholders in an oppenheimer conference. the telecom giant says it expects total wireless service revenue to grow for full year 2019. it also wants to stabilize earnings before ebitda. it just means all the earnings once you take out the noise here. that involves its entertainment arm. also crossing the tape, at & t expects elevated video churn to continue for the remainder of the year. not necessarily good thing when you hear the word churn. in the meantime, the loser is the leader. the nasdaq, which crumbled yesterday, is showing the most gains at this hour. when you look at percentages here, it's up 1.25%. s&p is up 1%. the dow is up just under 1%.
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mcdonald's, visa, apple, nike. they account for more than half of the dow's move to the upside here. you have mickey d up 1.7%. visa, 2%. nike, we will talk about in a second, 3%. apple better by 1.66%. apple was down 4% to 5% yesterday. rumors abounded in premarket that advanced microdevices ceo was leaving the chip maker. that's why you see early in the session a drop-off there. she apparently, at least the rumor was, was going to leave for the number two job at ibm to eventually replace the current ceo. well, su came out and denied the rumor mid-morning. that certainly didn't help ibm. su said she's sticking around at advanced microdevices but given r track record at amd, it would be a major blow for the firm if she did jump ship. the stock is up 778% since lisa
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su took over. she is quite the winner there. let's get to earnings. shake shack delivering burgers and results. the stock is on pace for its highest close since may of 2016, a jump of call it 18% right now in this final hour. that is a ten-year high. the burger chain posting better than expected quarterly results. also raised its full year revenue forecast. while shake shack delivers the real meat, you know where i'm going with this, beyond meat shares are dropping about 7.75% after the company closed a public offering of its common stock. they sold 3.7 million additional shares. when i say additional, i mean separate from the ipo. thereby diluting the value of their current holdings. the maker of the plant-based meat products is down about 17% month to date but it's been an incredible ride of triple digit percentage jumps since beyond meat went public. a big wall street name is
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sending up a red earnings flare about the u.s./china trade war impacting profits this year, but also next. citigroup's chief strategist, big name on wall street, is cutting his profit forecast for the s&p 500 companies this year by $3.80 to $166.20 a share. he also chopped off $4.25 from his forecast for next year as well. now, at the end of last year, his price target for the s&p was 3100. right now we are at 2874. he says he's adjusting it to 2850. he sees this going lower before the end of the year. all right. he isn't the only one making big calls on wall street. we do have morgan stanley relating to the trade war predicting specifically that a recession will hit if president trump imposes 25% tariffs on some $300 billion of chinese goods not currently subjected to
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tariffs. you will remember it was thursday mr. trump had already said he would impose 10% tariffs on those goods september 1st. to our floor show traders. john corpina, we are up 242 for the dow. what's going on on the floor of the new york stock exchange? >> we are getting a bit of a rally. i don't think it's at euphoric as the panic was yesterday in the selloff. it's good to see we did bounce off the lows after the closing session yesterday, overnight s&p did trade down. we did see that rally back up and continue into the session today. it's going to be just really interesting to see how much of this we can hold on to, and if there's going to be a carryover. everything seemed to flush out rather quickly which is sometimes good when you have this volatility in the market. it just seems like, you know, the wave comes in and then goes back up again. we will need consistency here, we will need more volume here, we will need a strong closing bell to convince me we are on the bounce up today. liz: well, honestly, you could say, phil, that what triggered
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the comeback today is that china stabilized its currency. we will get to more on the currency in just a minute because edward lawrence has some news that he's getting in front of the camera this very minute, he's going to talk to us in a second, but i mean, you also have the federal reserve heads coming out and making comments, bullard of st. louis fed is saying further rate action, meaning cuts, could be desirable. that's the word he used, desirable. >> you're right. he said it's too early to make that decision. liz: yeah. >> i think the other thing you have to remember, too, when it comes to the china trade war, i think one of the reasons why stocks are coming back, is i view their action last night with the reference rate, you know, raising it higher than people expected, is a little bit of a retreat. i think it was a reflection of the trump administration officially declaring them a currency manipulator and now they are going to have to prove their case in front of the g20, right? they are going to have to explain to them why they are not
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a currency manipulator. now the onus is on china to prove they are not manipulating their currency. i think that's one of the reasons we may see a backdraft from that policy. liz: scott, you look at the ten-year, it's still a flight to safety that is happening before our eyes at 1.73% for that yield. i still look at that and i think you're better off in stocks, if you can handle the risk of a roller coaster ride, because there are many names out there that have no exposure to china, verizon, for example, gives a very nice dividend and has zero exposure to the problem child we have right now. >> i absolutely agree with you. everyone's portfolio has varying degrees of risk assets to them and varying degrees of how much they have in a bond portfolio. but you're right, at 1.7%, i'm going to look at the equity markets here and i don't want to be all in. in fact, i think the rally we
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are seeing today is very short-lived. i kind of wish that the flush that we had overnight had happened during an open active day session, that retail could have gotten involved in that flush because to me, that would have been a better signal that maybe we hit a short-term bottom here. that being said, i think there's lots of bargains out there to be had and you know, i think you need to pick and choose but i agree with you, the equity space is where i would rather be right now. >> scott, just a quick followup to that. since that flush-out did happen overnight and the retail investors didn't get that opportunity, this might be an opportunity now why we're seeing this market run higher because retail investors are going oh, i hope i didn't miss this whole flush-out i need to get back in. that might be some of the false misleading green we see on the screen now. >> that's a really good point. i would say just based on experience, i know you have lived through it as well, that's kind of what scares me about this rally today. >> right. absolutely right. liz: guys, we have to run. great conversation. john, scott, phil, thank you. the retailers we are covering
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today, that's certainly welcome i'm sure for those stocks. while the markets might be in the green for now, the u.s. treasury's announcement that phil just talked about to formally label china a quote, currency manipulator, has some global economic watchers raising their eyebrows. the move seems a little unusual since the u.s. treasury department seemingly overlooked some of its own currency manipulator criteria that must be met if you can call a country that kind of situation, right. china flunking two out of the four conditions in the last semiannual currency report all the way back in may, but the treasury department did not wait for the next report to come out. it moved ahead with the designation within just hours yesterday of the yuan breaching the seven yuan per dollar floor. edward lawrence is live at the white house. edward, let's talk about china first, because yesterday, we saw what china's idea of retaliation to the president's call for
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september 1st tariffs look like. what more are they talking about? what are you hearing? reporter: china has some options in the bag. the big stick for them in their bag is talking about rare earth minerals. the chinese supply 80% of the global market with rare earth minerals and there's some fear that the chinese could limit exports of those minerals there. in fact, recently within the last couple of months, president xi jinping visited one of the largest rare earth minerals exporters and producers in china there. now, limiting the exports could hurt u.s. technology, we are talking about those minerals in everything from cell phones to radios and also watches, smart watches. china could also retaliate against american companies in china. specifically, they are working on their own entity list, that is that blacklist, where you can't buy or sell from anyone if you are on that list. china has already issued travel warnings for their citizens coming to the united states. u.s. travel association late today released the new numbers showing that inbound travel to the united states dropped 1% and
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we talk about travel, that's a large number. the chinese are very big spenders. now, all the tourists, of all the tourists coming to america, chinese tourists spent $36.4 billion here last year. still, white house economic advisers say the administration must keep the eye on the ball and level the playing field with everything, including currency. >> when we announced tariffs back in march of 2018, since that point, the chinese currency has fallen by about 12%. so what that does is it makes our exports harder to sell to china. that costs us jobs and factories and it floods our markets with their imports. reporter: on top of that, china says it will no longer import or buy u.s. agriculture. the president tweeting out today, taking to twitter, telling farmers that he would stand behind them, the president saying that he has stood with them in the past, hinting there could be another bailout in the future if china doesn't reverse that policy and start buying
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u.s. agriculture. liz? liz: these rare earths, i believe there are something like 17 of them. we have them here. we just can't refine them here. we have to send them to china. that is certainly something they could weaponize. reporter: absolutely. that's something that's a big concern, not just here in the united states but around the world. the u.s. has been working with other countries to try and solve this, so to speak, find a work-around with it, and that's been going on for about the last eight months or so. but again, you know, semi-beholden to china related to rare earth minerals. that's the big stick in their bag. liz: thank you very much. for those of you who don't know, rare earths are used in everything from electronics to cancer drugs. we need them. we will let you decide on this one. which brokerage call do you believe when it comes to nike? with the closing bell ringing in 47 minutes, and the dow up 249 points, the swoosh stripe leading the dow 30 after morgan stanley raised its price target on the sports retail giant to $108 from $103.
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maintaining the stock at overweight. but just yesterday, ubs cut its price target on the stock to $84 from $85. up $2.30 at $81.27, nike is trading higher. up next, the unintended consequences of the trump trade war churning a gold mine for one american company. the ceo who is literally turning trash into treasure. trek. ♪ can i get some help. watch his head. ♪ i'm so happy. ♪
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liz: one country's trash was another country's treasure. that is until the trade war. look at this. these are recycling centers in massachusetts, specifically westborough, massachusetts, where discarded paper and plastic are piling up.
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all around the nation, recyclables which the chinese used to buy from the u.s. are mounting. while the u.s. is the biggest producer of recyclable waste in the world, china was the biggest buyer, but then china changed its policy, first restricting the imports of soiled product, then when the relationship between the two countries entered a deep trade freeze, china has all but stopped picking up our trash. plastic exports to china have tumbled 80% and some reports now say that will drop to 90% by year end. but for one niche business uniquely tied to recycling, this plastic glut is actually a good thing, creating a potentially cheap heap of raw materials. trex is one of the largest recyclers of plastics and plastic bags in north america which it mixes with scrap wood to create composite lumber for outdoor decks and fixtures. it's become hugely popular, pushing the stock up 35% year to date. it's up another percent right
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now. jim kline is here, the ceo of trex. how many pounds of plastic do you guys recycle every year? >> it's over 400 million pounds. liz: what have you seen since the trade war? >> we saw the trade war coming before basically 2015, and we started to modify our purchase programs. what we are seeing is a less contaminated stream that we can buy for less money. liz: good news for you, certainly. >> great news for us. liz: it's not a surprise to see piles and piles of trash at a recyclable center in massachusetts but it could actually be anywhere. we now know that it's gotten so bad that china's not buying this recyclable mess that everyone from maine to oregon, minneapolis to philadelphia, these are municipalities and cities that have stopped their recyclable program. >> post-consumer plastic waste is not something that's very desirable for most. the product we use is not post-consumer, but to the extent that, for example, plastic bags
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at a grocery store, we recycle those as part of our major recycling program. liz: the pallet stretch wrapping as well? >> yes. liz: let's show how, we've got this video of what you guys do. you insert the plastic and out spits these boards. i have a trex deck because guess what, everybody, the termites hate it. they can't chew on it. it's an unbelievable building product. you guys have been doing some really good business. what is happening here as we see this animation? >> basically what happens is when the waste polyethylene comes in, it's in big bales. we tear it down, throw it on a belt. it's untouched by human hands until out the other end comes a deck board. it is blended with waste sawdust from cabinet and furniture manufacturers, a few secret ingredients, and pushed through a form and out comes a trex
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board. liz: fascinating. it's doing good things certainly for the environment. talk about your hiring. where are you hiring, if at all? >> we have locations in winchester, virginia and in nevada. we are hiring in both. we have been on a pretty good growth march for about five or six years, average compound growth about 15%. this year we are still hiring and we see a great opportunity going forward. liz: great to have you, jim. again, it's important to note there is certainly a correlation, you are doing big business and on top of all of that, the stock is up 35% year to date. big move for trex. thank you so much. >> thank you. liz: we are coming right back. the dow holding on to gains of about 280 points. lots more to come.
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major praise today. 36-year-old gilbert cerna, who worked at that walmart for nearly two decades, led 140 shoppers and employees to safety when shots rang out on saturday. 22 people were murdered, another 24 wounded when patrick crusius opened fire with an ak-47, first in the parking lot, then inside the walmart shopping center. the father of two said while he was very scared, he didn't think about himself. he just thought about the people in the store and getting them to safety. of course, 13 hours later in dayton, ohio, another gunman opened fire, slaughtering nine people outside a bar before brave police within 30 seconds were able to shut him down and kill him. 26 were wounded. tomorrow, president trump is heading to both cities. let's get to blake burman at the white house. blake? reporter: the white house says that the president wants to go to dayton, ohio and el paso, texas tomorrow. by the way, he will be going with the first lady so that he can grieve and pray and especially thank the first
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responders who were on the scenes in the immediate moments after those mass shootings. this is going to be the sixth time in the last two and a half years during his presidency the president will make such a trip after a mass shooting. we heard from the president yesterday morning, some of his ideas to try to stop this epidemic of mass shootings. the white house says the president has been receptive to red flag laws in which authorities are able to remove weapons away from those who might pose an imminent threat. the democratic senator joe manchin, the republican pat toomey also say the president was receptive to their bipartisan bill to expand background checks. the white house says the president is considering executive actions and listening to legislative proposals. >> he mentioned some in his speech. we have talked to lawmakers already about some of the gun control legislation they have, whether it's the toomey/manchin bill, whether it's the red flag laws that we've talked about on multiple occasions.
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he's also talking about some of the loopholes that would have potentially stopped this tragedy. reporter: there are expected to be some protests in dayton tomorrow when the president arrives there, in el paso the congresswoman who represents that district, veronica escobar, a democrat and the former congressman, current presidential candidate beto o'rourke say the president in their view is not welcome there. no public events for president trump today. the white house says the president is getting ready for those two stops tomorrow. liz? liz: blake, thank you very much. dow jones industrials up 236 points. at times like these, what blake just talked about, it's very hard to smile at anything, let alone laugh, but tomorrow, we drop my newest edition of my podcast, everyone talks to liz. i've got the inspiring story of the woman behind the unbelievably popular caroline's comedy club here in new york
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city. what a story. she was the one credited with discovering jay leno, jerry seinfeld, ellen degeneres. the list goes on. download it. up next, the apple card quietly hitting the presses as the tech giant enters the cutting edge of high finance. but will people start whipping out that card? that and more coming up in today's fox business brief. "the claman countdown" is coming right back. welcome to the place where people go to learn about
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jackie: jackie deangelis with today's fox business brief. apple giving a lucky few a preview of its credit card. it is beginning a soft launch today to a randomly selected group of customers with a wide release coming to all iphone owners later this month. shares of apple trading higher by almost 2%. the dairy giant reporting a much wider than expected loss in the second quarter, missing bottom line estimates for a fourth straight quarter. weakness in the conventional milk category as buyers shift to alternatives also leading to quarterly sales misses. shares of dean trading lower by 33% today. severe weather creating storm clouds. delays in the spring farming season hampering the fertilizer giant's full year forecast, the
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china trade war and pressure from cutbacks in its phosphate segment weighing on sales. it is falling to a new annual low, currently almost 7% lower. up next, the king of content versus the king of the box office. netflix launching [ inaudible ] ahead of disney's streaming incursion but who will reign supreme? "the claman countdown" coming right back. memory loss relate? prevagen is the number one pharmacist-recommended memory support brand. you can find it in the vitamin aisle in stores everywhere. prevagen. healthier brain. better life. liberty mutual customizes your car insurance, so you only pay for what you need. i wish i could shake your hand. granted. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ 2,000 fence posts. 900 acres.
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liz: all you hear about is streaming wars, right? then you see the cover of bloomberg business week. you've got all of these helmets with all the logos, amazon to hulu, here is apple, up here is the mouse, disney, netflix, hbo. the streaming battle for original content and subscribers is about to get bloody and you, the investor, need to hear about this, right. because investors are glued to
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disney's stock at this hour. the company prepares to report earnings right after the bell. we are about 24 minutes away from that. disney is up nearly 2% today, but disney's november 12th rollout of its brand new streaming service, disney plus, might have netflix investors shaking in their boots. according to our next guest, which brings up the question can disney de-throne netflix, the current king of streaming? here for a netflix versus disney bull/bear debate, gerber kawasaki's ross gerber and porter bibb. good to see both of you. ross, to you first. you own both netflix and disney, but you are gunning with disney, you are on their side at this point. why? >> well, i think mostly because disney has such a wonderful way to monetize content that netflix just doesn't have. for example, my kid yesterday bought these new adidas that are "toy story" versions of adidas and disney makes revenue from so many different places for every
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piece of content. now that they have a streamer to put these shows on, it's just an additional revenue stream. where with netflix, it's the exact opposite business model where they spend all this money making shows just for a streaming service and there's no other monetization. we think this is a big problem for netflix longer term. liz: porter, i don't see vans wrapped with the netflix logo on them. where would ross's point take you? beyond the yeah, we've got a lot of programming. >> well, disney's had a fantastic run for the first half of this year. they are up since january 27%, 28% versus the s&p 500 which is half that, 14%. the problem that they're facing is that they have to spend tens of millions, hundreds of millions of dollars to make disney plus and espn plus and hulu, to make them attractive to not only subscribers but investors. they will start when they launch
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disney plus, they will still lose a couple hundred million dollars a year until '20-24. >> based off what? i don't agree at all. yeah, i mean that's just some analysis from some analyst who has no idea what they're talking about. the first day, the first day that this launches, it will have captain marvel and avengers end game on it and they will get tens of millions of subscribers right off the bat. it's got an $8 price point. i think it will be way more profitable than anybody can imagine. >> i agree with you, if you have kids, they are going to shoot you if you don't subscribe to disney plus. >> that's right. that's most people. >> the costs of operating a stream service are horrendous. disney, first, doesn't have much if anything in terms of customer relationship management that netflix has. >> what? >> they will have to spend a lot of money to do that. i know how many times have you gone in and out of netflix and
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they won't let you stop churning, they keep bringing u- >> when you go to disneyland, they track everything you do. disney knows -- >> you bet. >> -- their customers so well. netflix really doesn't know anything about you other than what you watched last week. liz: this is going to do one of these sort of doorbuster loss leader things. their pricing is so much lower than even the lowest level of netflix. we can put the prices up. but here's where else. disney, $6.99. hbo, $14.99. netflix is about two bucks higher at $8.99. what about comedy? ross, netflix dominates in comedy. i was just talking to caroline from caroline's comedy club. that's the podcast tomorrow everybody should download. they have 100 hours last year alone, 100 comedy shows. disney is not going to get that. look, you've got comics who drop the f-bomb and all of that. that's not going to be in disney's realm. they will lose out on all of
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that. >> i don't think that's what they're trying to do. you know, honestly, the comics in l.a. are so happy about netflix, i can't even tell you, because most of these guys were playing the comedy club for a hundred bucks and now they are getting paid $10 million an hour. so you know, is this really paying off for netflix, i don't know. but i do like some of it. i don't think that's disney's business model, though. and where the costs lies, you have to remember, disney's going to make this movie, put it in the theaters, do a billion dollars, and then drop it on the streamer. so where netflix makes the irishman spends $150 million, drops it on the streamer, and there's no other revenue, so that's why the costs look so horrendous for netflix, but for disney, it doesn't really cost them much more than the technology to put the app together. liz: porter, as we finish up, you have to tell me, disney is going to bust a move when it opens up its streaming plan with, of course, the big marvel comic movie that did so unbelievably well. >> absolutely.
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and i agree with him on one point. they are going to manage the mechanics of the -- liz: he called you some analyst out there. you're agreeing with him. >> investors have -- [ speaking simultaneously ] >> -- in the first 16, 18 months of getting these streaming services working properly. liz: if you had to pick a stock of one or two, right now you have ross covering the space. >> i think you are going to see netflix bounce back once disney launches because disney plus is not a netflix killer. there are going to be all of a dozen streaming services. it's the golden age of content for consumers. liz: ross, you are covered on both ends, then. >> yeah. i agree with him, i think it's an amazon prime killer. but yeah. liz: good to see both of you. thanks for playing along. ross, porter, keep it right here on fox business. disney earnings and much more, all the action after the bell. we will get the results for you
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as soon as they are released. from the streaming wars to a real life episode of "let's make a deal." closing bell ringing in 18 minutes. the dow is still up 278 points. forget cbs game show reboots. charlie gasparino coming down to the set right now with late-breaking details on the excitement behind the scenes in the cbs/viacom merger with t-minus 48 hours to go until the media giant's self-imposed deal deadline. could a hollywood ending be in sight or will a cliff hanger be in store? charlie breaks it next. ♪
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liz: all right. cbs and viacom both moving
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higher as talks rage on about combining these two companies. but could it be mission impossible for paramount's parent company to strike a deal with sister company cbs? to charlie gasparino. >> the timing is of the essence here in terms of what i'm going to report. we should put an intraday chart up because i think we might be moving the stock a little bit. what we understand is that they would like to get -- announce it on thursday. they are trying to announce it on thursday. cbs took a little pop there. viac viacom, they are trying to get it announced but i am told that the chances of a thursday announcement when both companies do their earnings is dropping now. why is that? that doesn't mean it's not going to happen. i just don't want to say, they maybe have a breakthrough in the next ten minutes or the next day. liz: viacom also moving. >> here's what we know.
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listen, you follow the imbroglio of t-mobile/sprint. little different when you have regulatory reviews and things like that out there. it takes time. you got to dot the is, cross the ts. you have to get management structure nailed down. then you have to get price. liz: they didn't put in a self-imposed deadline. >> there's no self-imposed deadline. liz: they wanted to do it before earnings. >> that doesn't mean like they have to do it. i have been told by deal participants that they would like to get it done on thursday, make an announcement. it's unclear it will be thursday. the chances, because of figuring out the management structure and the price, like how many shares of viacom or of the combined whatever stock it's going to be, if you own x amount of viacom shares or cbs -- now here's another fly in the ointment. we should also point out, if they do not announce it and again, i'm hearing chances are
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slipping. that doesn't mean it won't but the chances are going down. if they don't, it's very -- it's very unlikely they will say anything thursday. they have to be very careful about forward-looking statements. they may address it in a sort of obtuse way but they can't, unless this thing is signed and sealed, they really can't say anything. if you don't see a thursday announcement, we are probably not going to get a lot of forward-looking stuff on the deal on thursday. if they don't announce it. again, i'm hearing it's declining. one of the reasons why it's declining is as i told you, it was price. management structure. i think joe ianniello is the key here. they would like him to stay for awhile. his contract ends at the end of [ inaudible ]. they would like him to stay. he's a very good financial guy. bob bakish will be the ceo. joe is a very good financial ceo. he's got very good close ties to wall street. wall street guys like him.
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remember, les moonves is known for the reason why he left. most people know him now. but he had a very good run at cbs and you know, the analyst community liked him. they like joe as well. i think the thinking is we would like him to stay as long as we can keep him. the question is, wl he sy beyond that transitionary period and that's still up in the air from what i understand. so that's the things that are slowing these things down. again, this is a moving target. tomorrow, they may have a breakthrough and are ready to announce it on thursday. but as of right now, i'm hearing the chances are going down because of management and price. and joe is at the heart of that management. if they don't announce it, again, i don't think they are going to address it that much. i think they can't really legally. and if they do the deal, okay, and -- that doesn't mean they're not going to do the deal. i think they are going to do it. let's just say they do it. liz: god, you are making me crazy. let's just say they do it. they might not do it. maybe they'll do it. >> suppose they find a slush fund on the side. it's always possible.
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liz: you know what's possible. we are hitting session highs right now. i want to point that out to our viewers. >> that's because of me. anyway, yes, i take the credit. it's a done deal. what's the end game for cbs, viacom and shari redstone who controls them through the national amusements holding company. what's the end game. as your previous guest just said, they are going to be sold. liz: porter said in the commercial break they will, if they combine cbs and viacom, five minutes before verizon and at & t -- >> microsoft as well. by the way, apple has $30 billion like, mr. cook has $30 billion in a safe somewhere in cash, probably. that's how much cash these tech companies have. they're looking for content. there's some talk about them growing through acquisitions, maybe buying discovery. there's a lot of discussion which i tend to agree with that
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they sell the whole thing, she nests her trust fund for her kids and grandkids. liz: that's a lot of popcorn. charlie, thank you. charlie gasparino. we are coming right back. yeah, we are at highs for the nasdaq as well. nice move here, folks. as the ten-year yield continues to fall. ree with your golf clubs. now you can, with shipsticks.com! no more lugging your clubs through the airport or risk having your clubs lost or damaged by the airlines. sending your own clubs ahead with shipsticks.com makes it fast & easy to get to your golf destination. with just a few clicks or a phone call, we'll pick up and deliver your clubs on-time, guaranteed, for as low as $39.99. shipsticks.com saves you time and money. make it simple. make it ship sticks.
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♪ liz: need to you turn attention to the 10-year yield. while you see stocks hitting session highs, just off session highs, showing real confidence, in these final minutes of trade, we're watching the 10-year yield tick down even more. with we started the program 55 minutes ago the 10-year yield was, we were at 1.73? we're at 1.71. there seems to be -- i ought to check the vix. seems like if people are piling into treasurys, well the fix is
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actually down. there doesn't seem to be as much fear. just the yields continue to go down as the price of the treasurys go up. right there, we have cboe, fear index down 18%. after yesterday, which was a crazy day. it was also crazy yesterday for the videogame makers and today, take-two interactive is actually moving in the opposite direction, soaring after the publisher of hits like "grand theft auto," red dead redemption, nba 2k, raised full-year guidance after several firms boosted price targets as high as 150 bucks a share. we're at 124.94. tell you where we should be, to jackie deangelis. not only high-flyer is take two, right, jackie? >> it has been volatile today. we made a comeback, 290 points on the dow.
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look at stocks leading the way higher. it was a broad-based selloff. you can see nike up almost 3%. cisco systems, walt disney expecting earning after the bell, seeing a nice 2 1/2% pop of the s&p five up 36 points. look at those leaders. it is across different sectors development. a gain of 13%. back to you, liz. liz: jackie, thank you. three minutes and counting, much different feel for the markets. we have madison money founder, mark madsen and mike maury are here with different perspectives. yesterday was a tough day, mark, i know that for sure. what were you doing? did you pick up anything on the cheap? >> when market crashes investors mental state completely crashes with it. that creates pain and focus towards picking and choosing a
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thing that is unfortunately high, selling the thing that is low. yesterday what a prudent investor would be doing, selling fixed income buying stocks down. yesterday we were down 3%. everybody knows to buy low, sell high but they don't do it. liz: at your integrity viking funds, give me a sense what you guys do, outside of the big money centers of manhattan, when it comes to stocks on a selloff day like yesterday? >> thank you for having me, liz. what we do, we are a niche fund group, focusing on income strategies and, one of the income strategies we own is dividend harvest fund and it is a unique strategy that tackles dividend-paying stocks. i think it is prudent for investors to invest these style
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of stocks compared to the 10-year treasury. they provide growth income in this particular market even during recessions. liz: you like coke, at&t, abbvie all have decent returns when it comes to yield. mark, where do you see the trade war going? how much longer does it go and is there a way to protect the money? >> that has a lot to do whether or not trump gets reelected. i think china is waiting it out hoping to get somebody in office. investors should realize no matter what happens with the trade wars, they should move away from high dividend stocks, buy small and microcap stocks. s&p is up 15%. micro caps are down in the 3% range. selling things with longer term higher premiums. liz: mike, he took a swipe at your focus which is high dividends. what do you say to that? >> i think it is more important investors to stay course. avoid fear of missing out and
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chasing growth. as well as fear, panic selling. [closing bell rings] staying course, investing in the dividend stocks. liz: mark and mike, great to have you both of you. the market closes near session highs. the dow getting a boost from disney. melissa: stocks rebounding the following the worst traying day of the year, not today. the dow snapping a five-day losing streak closing up 315 points. near session highs. i'm melissa francis. welcome back. ashley: i'm ashley webster in for connell mcshane this is "after the bell." the s&p 500 and the nasdaq both finishing in the green, bringing six-day losing streaks to an end. much better day. big move will be disney set to report quarterly results any moment. find out the numbers here first before they move the markets tomorrow. stick around. we have of course fox business

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