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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  March 29, 2019 3:00pm-4:00pm EDT

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when we are free of the tariff barriers of the european union, we can trade with canada, australia, new zealand, united states, china. charles: thank you very much. liz claman, we are up 192 points. great day for the market. liz: i know. with lyft, notice i'm kind of getting in the severity wipirit pink, do you ever buy on the first day of an ipo? charles: it's been years. it really has been years. liz: dangerous, right? charles: it is, but i want the audience to know if you wait six months or so, don't forget about these names. i made a bundle in etsy more recently, a name that was a hot ipo, fell aapart, then took off. liz: six months? i can't see six minutes ahead. thanks, charles. have a good weekend. all right. we are about to close out a historic quarter. not a member of the s&p just
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yet. yes, it's history for the s&p. but take a look at lyft, the ride hailing service racing to the finish line on its first day as a publicly traded company. but if you bought it right after the first trade, you are not thrilled. at 11:48 eastern time, here is this intraday picture, lyft shares had liftoff, immediately spiking to a high of $87.24. traded as high as $88.60. right now, shares are at $80.79. still a gain of $8.80 but the first -- you could call it tech debut of the year, bringing in $2.3 billion, sparking what could be a sizzling year for, well, you don't call it the unicorn. you call this a decacorn company. those are companies worth more than $10 billion before the ipo. thinking about buying shares? venture capitalists got in years ago. the former goldman sachs banker brothers took a big risk,
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investing early in lyft. are they in the money today? this is more complicated than you might think but it's a game they are ready to play again and again, this time coming up with pinterest, they are here in a fox business exclusive. you can hear how they did it. the euphoria around lyft tempered in a bit of a gut-wrenching moment earlier this morning by the brexit crisis. stocks hurtle to session lows right when the uk parliament for the third time voted to reject prime minister theresa may's brexit with a planned deal. protests breaking out across london as it appears a no-deal brexit collision course is now in motion. investigators are apparently now very close to zeroing in on the exact cause of the boeing 737 max crash in ethiopia. no trade deal in hand, so why is treasury secretary steven mnuchin smiling? and with 29 underwriters, charlie's about to break it on the banks that are getting the most lift on the lyft ipo. less than an hour to the closing
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bell on this friday. let's start the "countdown." liz: and we have this breaking news. president trump apparently just let it drop that he's going to have a news conference in one hour and our fox business d.c. team is quite sure it centers around this woman on your screen. his small business administration chief, linda mcmahon. chatter swirling in the past several hours that she will step down from that position. the co-founder of wwe, yes, the world wrestling entertainment company, is expected to rejoin the private sector. the president, we understand, will step before the cameras at mar-a-lago in florida at 4:00 p.m. eastern. fox business has our cameras there. to wall street. wall street's adding a few pages to its history book at this hour. we are looking at the dow, s&p and nasdaq. s&p is having its best quarterly performance in nine years but look at the russell 2000. the russell is having its best
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quarter since 2011. these are small and midcaps. it's pretty interesting to see that they are coming along for this ride. now, when we see a lot of green on the screen, it's not necessarily all lyft, just lyft or lyft at all. one single market can send the markets into a tizzy. today that word was constructive. that's all the bulls needed to hear. who said it? technically, nobody said it. but as he was leaving beijing on his way back to washington, treasury secretary steven mnuchin tweeted that trade talks between the u.s. and china teams were quote, constructive. the most immediate reaction, chip makers which have huge exposure to china, they sell into asia, they manufacture in asia, they started popping. they are all in a basket in the philadelphia semiconductor index and that is gaining steam, even as we head into the final hour of trade here, up 1.75%. you can see what a jump from yesterday. but one stock within that basket is having an outsized reaction. micron technologies.
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look at micron, up five full percentage points while the rest, whether intel or nvidia, up about 1% or 2%. if you claw down a bit deeper as we at "countdown" tend to try and do for you, according to research firm clsa, amazon may be looking to micron to replace samsung as its dram chip supplier, citing korean media outlets who report that amazon might be having quality issues with samsung semiconductors. if the two parties can't figure it out, that would put micron and south korean chip maker hynex in the sweet spot. silicon valley, decacorn lift, pretty sweet spot with about, yep, 55 minutes left to trade on the first day. the ride sharing service galluping into the publicly traded arena. founded in 2012, the lyft ipo priced at $72 a share, opened for trade at 11:48 a.m., jumped above the $87 mark. we are now lower than that at the moment, at $80.80.
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still above, as we said, $72, but at this point, it is big volume here. more than 50 million shares have changed hands as buzz and excitement continue to swirl at this hour. concerning lyft's big stock market debut. remember, it is not how lyft opened, it's how it closes. you have to stay with me, right? we have 54 minutes left to see how lyft closes here. two guys watching every tick of the trade extremely closely, slid behind the investment while long before the stock went public t two brothers quit their day jobs at goldman sachs to get in early on the early investing game. lyft was one of their first early investments. they bought in during the series e funding back in 2015. it's actually not even that early, as others did, when lyft was valued at $2 billion. right now, we are looking at a market cap of $24 billion. carter and courtney are the founders of m-13.
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great to have you. how are you feeling on a day like this? are you guys on the money, having bought in when the valuation was $2 billion? >> absolutely. i would say it's a proud day. any time we can back tremendous companies, tremendous founders like lyft, what we are proudest of is even though it was a series a, even though it was valued at $2 billion, lyft has very little of the u.s. ride sharing market and obviously have proven a lot of people wrong, upwards of 40% of the market, and shown their ability to execute. liz: you guys have been sitting there on this egg, incubating it, right, carter? not to envision you guys sitting on a giant egg that says lyft on it but honestly, did you get anxious at certain points? >> yeah, i think there were a lot of anxious points. we live in this world that everybody wanted to talk about uber and how could somebody like lyft make this kind of headway and we had a thesis in 2015 around brand and their ability to execute and being a perfect
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duopoly market. thankfully that's proven right. we are proud today not just because of returns for our investors but that we took a contrarian bet and it's worked out this time. liz: where do you see it closing? i know i'm asking you to have a bit of a crystal ball here, but on a day like this, we have been as high as $88. what do you think it will close around? >> yeah, hard to say. i think people have to keep in perspective that when the prospectus came out they said $62 to $68 range, based on demand it went to 72 and opened really high today. i think it will still close in the 80s but truthfully, anything over 72 should still make people really happy. and n from here. liz: i want you to explain to our viewers how one gets in early when it is not publicly traded. you have to be an accredited investor, correct? explain the process you went through. >> correct.
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i think when you are in these circles, obviously you have to be an accredited investor but world travels fast if you do good work. with our company, we always try to add value to brands in unique ways. first it was just the personal investment and from there, we started to bring in value add investors, help with partnerships. we have been big believers in john and logan from the start but other people in the c-suite, we have worked with all of them so the more value add, i think it begets them coming to you for other things. liz: we have to bring up the lockup period and when it actually expires. lockup, for those who don't know, is the point where insiders like yourselves are able to finally sell. will you be selling on the day of the lockup expiration? >> we absolutely won't be selling. again, if lyft is showing anything, it's the ability to execute. going from less than 10% of the ride share market in the u.s. to 40%, they have shown that ability. i think we are in the very early days of the growth and valuation you can see from lyft, you know,
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you think about international expansion, you think about the ability to build businesses on top of this and you think about their growth rate. so we are long term holders. i think the company gets stronger every day so we are going to kind of stick with the ride. liz: one last question. i know you guys are also going into things like pinterest. you have early investment in pinterest and possibly slack, right? talk to me quickly about the concern that both uber and lyft might be looking at a game over once a waymo comes into the picture. i study waymo extensively and this is a company that may come in with autonomous vehicles, they are backed by google, and google has waze and google maps and that gives them somewhat of an advantage. are you concerned about that? >> always concerned, who knows where it all heads, but i think everyone believes it's headed toward a future of self-driving or driverless cars. luckily, to uber's credit, both
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uber and lyft have options within that. waymo is certainly a real competitor. i think we believe that uber obviously has a bunch of other revenue streams but we think lyft is well prepared for the driverless car market as well. liz: courtney, carter, great to see you guys. come back when pinterest goes public. >> we would love to. >> thanks so much. liz: thank you, gentlemen. i'm just looking at lyft right now at $9.11 or 12.6%. we will be watching this throughout. we have our lower bunk here on it. lyft is clearly setting the stage. uber is not public but it came out before lyft became in existence. as you just heard, the 2019 ipo pipeline is bursting with all kinds of offerings. not just slack and as i mentioned, you know, those other ones. peleton, palentier, some of the marquee names that are teeing up to go public. i want to get right to the floor
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show. gentlemen, besides the lyft ipo, we are also wrapping up right now the first quarter today so we are at the last day of the quarter, last day of the month, last day of the week. what's the big trade you are honing in on for the next three months? phil, to you first. >> you know i'm going to say commodities. i'm in the commodity exchanges here. they are going to do great. we are talking about the stock market doing great. did anybody happen to mention that crude oil also had its best quarter since 2010. up pretty good. i guess it's a lot easier to have that kind of quarter when you had a lousy quarter the last quarter, right? i think what it's saying about the market is very good. commodities are going to be very, very hot in the new year. i will go one other place i think will be really hot, the cloud sector. up in the cloud. i'm not talking marijuana stocks here. i'm talking about cloud stocks right now. okay? lot of times when i say cloud stuff, you think about the first press cloud computing, great etf
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that's going to cover all the cloud stuff. this is a stock that's really -- skyy, up in the sky. there you go. i think that's going to cover a be the story. it's going to really grow. it took a big hit last year but it will go with the market. more companies have to get into the cloud in the future. it's a very small percentage of companies that are right now. that's going to be the future. this is the best way to cover all those stocks. that's why i want to stay in the cloud. liz: tim anderson, bring us back down to earth. give us what you think will do well in maybe the second quarter here. >> look, i think the home building stocks are really primed to take advantage of an uptick in the housing market. and i think we are going to definitely see an uptick in the housing market as we get into the second quarter. i think the home builders are probably still a little bit underowned. they look tremendous on the charts. they have got some good
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fundamental underpinnings from the economy right now. liz: great to see you. the home builders are down today, folks. you wouldn't be buying at the high. you want to buy lower, sell higher. good to see you. have a good weekend, gentlemen. we are looking at a rally, up 172 points. we are also looking at an all-out brexit brawl. closing bell, 45 minutes away. parliamentary divide, wider than the english channel, sparking protests across london over the past several hours. the entire european economy, at least some believe this, is on the line. we've got deirdre bolton crunching the last-minute numbers since chaos is starting to get a little hotter across the pond. plus, the boeing blame game. the good, the bad and the ugly of what investigators are now honing in on as the cause of the ethiopian airlines crash. and look at lyft. it's still liftoff at the moment. can it continue to drive higher into the close? it's up 13%.
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over the past two minutes, it's gone up another percent. we are watching it oh, so closely. don't move. "countdown" coming right back. i don't know what's going on. i've done all sorts of research, read earnings reports, looked at chart patterns. i've even built my own historic trading model. and you're still not sure if you want to make the trade? exactly. sounds like a case of analysis paralysis. is there a cure? td ameritrade's trade desk. they can help gut check your strategies and answer all your toughest questions. sounds perfect. see, your stress level was here and i got you down to here, i've done my job. call for a strategy gut check with td ameritrade. ♪ ifor another 150 years. the fire going ♪ to inspire confidence through style. ♪ i'm working to make connections of a different kind. ♪
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with signs that read stock the brexit betrayal and free britain now and even trust in our politicians is dead. we are watching this and it's just a sliver of the fallout from the not so charmful third vote on theresa may's brexit proposal that failed 344-286 votes. european union council president donald tusk is calling for an emergency eu summit two days before april 12th to discuss britain's future. just minutes, he called for this after parliament's rejection. deirdre bolton is looking at the turmoil. i know the sun has set in london but the next chapter in the saga is also very much on the horizon. >> liz, it's actually monday. on monday, parliament's going to seize control again from prime minister theresa may, hold a second round of votes where they try to find a solution that is different than may's plan and then vote it into action. you probably remember earlier
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this week on wednesday, to be precise, this is exactly the exercise that the house of commons went through and if you remember, none of the eight alternative plans that anyone had come up with had enough votes to pass. so if parliament cannot find a solution again, that is to say, if monday repeats this past wednesday, the risk increases that britain faces a hard exit or crash-out, as people call it, to leave the eu on april 12th. one possibility, one potentiality is that britain gets more time from the eu but keep in mind, the eu has 27 member states, each one of them have to agree to give more time to the uk. french president macron has been clear in stating he is sick of the situation and said long story short, england should not take it for granted that the eu will allow it more time. ideally, the uk figures out how to leave the eu before april 12th and as you highlighted, two
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days before that deadline, eu council is holding an emergency summit so that's on april 10th. as far as current scenarios go, most economists say it would be great if the uk could come up with a plan because most agree that the worst case scenario is this crash-out which means there are no trade agreements in place, there is no plan for how people cross borders and on a granular level, some british citizens are even worried about medications will get to them. that's just one example. if there are no customs agreements in place, it is just unclear how people will live their daily lives. so the next big calendar point is monday. we will be following it for you, of course, here on fox business. liz: total and utter mayhem. i'm kidding. who knows. some of this is scare tactic-esque, isn't it. closing bell. we are now 38 minutes away. dow is up 168 points. lyft is not the only car-related stock flying high right now.
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carmax, clear winner on the s&p 500 right now, up ten full percentage points to $70.20. investors are slamming the gas pedal after the auto retailer beat on both earnings and revenue. coming up, the bullish case for stocks from a man who knows. and the important part of that a trade deal could play in pushing your portfolio higher in the next nine months. tom lee. checking back on lyft, because we have on it the screen but we like to show the intraday picture here. it is off the intraday high of $88, at $80.96. charlie gasparino is working his sources in the banking world right now. he's got new information on just exactly who's making the biggest bucks on this debut. 29 underwriters? somebody's ahead of another. "countdown" will be right back. -driverless cars... -all ground personnel... ...or trips to mars. $4.95.
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liz: a preliminary report from international officials investigating that doomed march 10th ethiopian airlines boeing 737 max flight has found that that flight control feature in question, the one that was designed to prevent a stall, was activated just before the plane nose-dived and crashed. this according to unnamed sources talking to the "wall street journal." the data retrieved from the black box also reportedly confirms similarities between the ethiopian crash and the indonesia's lion air crash from six months earlier. combined, 346 people were killed. now, the findings, we should mention, are subject to revisions and another report, new one from ethiopian air authorities, is expected within days. all this, though, comes just days after boeing announced a fix to that automated system which apparently was a bit -- needed calibrating, too sensitive, not sensitive enough, a fix boeing says will now make
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it less aggressive and give more control to the pilots. anglo-german tour operator the latest company to report a drop in profits following the grounding of the boeing 737 max 8 jets. the company said profits will be down, no small chunk of change, $225 million this year. but they say they have no intention of scaling back its order for the 737 max planes. this follows southwest airlines, west jet, air canada and united airlines all having to adjust outlooks based on the grounding of that specific design. boeing moving higher today. it is up about 1.66% to $380.51. boeing is not the only stock, by the way, staging quite a comeback. gerri willis is on the floor of the new york stock exchange with today's fox business brief. gerri: that's right, blackberry surging, beating earnings expectations. while the tech company did not
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record any revenue for hand-held devices, it did see a 71% increase in licensing and 20% growth in technology solutions. jumping 24.9% so far this year, compared to just over 12% increase in s&p 500. currently the stock is 14% higher today. from tech to biotech, celgene flying high after bristol-myers squibb received a vote of confidence backing the merger. institutional shareholders services telling investors to approve the record-breaking $74 billion buyout plan. the deal will face some backlash from investors, who vote on the deal at an april 12th meeting. celgene 7% higher. bristol-myers squibb down marginally. from high-flying tech deals to home furnishings. the company formerly known as restoration hardware not feeling the love after posting mixed fourth quarter earnings which
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missed on revenue and sales. stock cratering after cutting the 2019 forecast, getting downgraded by deutsche bank. shares are currently down 21%. it was a constructive tweet that sparked the day's rally. how much of a catalyst will the china trade deal be in the second quarter? more on "countdown" next. a business owner always goes beyond what people expect. that's why we built the nation's largest gig-speed network along with complete reliability. then went beyond. beyond clumsy dials-in's and pins. to one-touch conference calls. beyond traditional tv. to tv on any device. beyond low-res surveillance video. to crystal clear hd video monitoring from anywhere. gig-fueled apps that exceed expectations.
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liz: okay. you could say that this past quarter came in like a bear, but is going out like a bull. the s&p 500 is set to post its best first quarter performance in more than two decades. best overall quarterly performance in nine years. but in two decades for the q1?
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how much better can it possibly get before year end? tom lee says considerably higher. the co-founder of funds track global advisers says about 100 plus points higher and he says about 2935? that's very bullish. what's behind that outlook? >> i think a lot of it has to do with investors just got too bearish late last year. we had a waterfall decline in stocks, now in money markets, the highest since 2010 so almost a decade. hedge funds have near record short positions in equities and as long as the economy doesn't slip into recession, and we think it's midcycle, then you have a big valuation argument for pe to expand this year. we think this year is like '09. i think it's more realistic to expect the s&p to close above 3,000, as much as 200 or more points from here. liz: oh, okay. all right. even 3,000 would be, to me, quite a move to the upside. even with the backdrop we have right now of a slowing global
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economy? >> yes, but it's only if the slowness is a consequence of brexit and trade tensions, which we'd say are speed bumps, creating like inventory corrections. if the global economy's slowing because the business cycle peaked, then of course s&p 3,000 doesn't happen. we are in the camp this is more sort of a speed bump inventory correction, trade tensions going away, a trade deal or brexit really bringing visibility. liz: if that's the case, we have this flattened or inverted yield curve on the low end, the short end, from three months to the longer end on the ten year, and you have larry kudlow coming out and talking to, you know, stuart varney and people on this show saying cut rates immediately and stephen moore, a frequent guest on this show who may very well be at the fed soon, also says the same thing. what camp are you in? i personally think that would scare the markets.
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what do you think? >> i think mr. kudlow actually is correct in some ways because we looked at the inversion of the ten-year versus three months, and the last eight times this happened, seven out of eight is because the three-month jumped up. liz: wait. can i interrupt you and say many times that this happens, it precedes a recession. i want our viewers to know that. go ahead. >> yes, that's right. precedes a recession but it's because the fed's intentionally raising rates, the three month jumps up because the fed is trying to put the brakes. i don't think the fed was trying to slow the economy in december. in fact, we got this inversion because the three-month, you know, if the fed didn't raise in december we would have a normal curve. i'm sympathetic to the idea the rate cut might be appropriate. liz: i'm looking at lyft. looking at lyft, it's a stock today going public, it's not too, too frothy. it certainly has had a nice move to the upside here. we have about 22 minutes left of
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trade and lyft at the moment on its first day of trade is up 11.5%. it is not at the highs of the session. that said, what stocks would you be going into right now with your outlook that the s&p could jump anywhere from 100 to 200 points? >> well, on our list of recommended ideas, are names like american express, amazon, google, these are sort of franchise businesses with long histories and really should be part of core portfolios. liz: i think so. i like the solid names and if you are talking about names that are sort of best in class, those are the ones. i just get concerned on ones that are particularly focused on the consumer, as we see slowing gdp, and the consumer and spending, two-thirds of gdp appear to be wavering just a bit. >> yeah. that's right. the consumer is also fickle as well. they have confidence issues.
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we had the shutdown. the stock market. so even though i say long-term, we are bullish on the consumer, you're right, in the short term, things that are consumer-focused, consumers can always cut spending. liz: before we go. you have been one of our bitcoin guys. bitcoin is above 4,000. certainly not where it was about a year and a half ago, but tell me what you were doing today. you were at a bitcoin event? >> well, we are at a cfa annual summit in texas. so it's a full day of events, both traditional markets and crypto, but yes, i was moderating a panel with some really great crypto guys and we talked about the crypto market. i think there's a real sense that bitcoin is being cumulated by core holders. that's something we talked about offline. that means if you are wondering if bitcoin is a buy at 4,000, 42,04
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4200 is a key level, we think it will cross over the summer above it. if it's being cumulated by larger investors, it's a good time to be optimistic. liz: a few months ago it had a three handle but there are those who are very skeptical. you're not one of them? >> well, you know, when you think of bitcoin's price moves, it's so volatile that it makes sense that traditional investors are very skeptical. bitcoin has fallen 75% four times. it's recovered every single time and made new highs. so i don't know how long it takes but i don't think people should think 20,000 was the high water mark for the lifetime of bitcoin. liz: all right. tom lee, good to see you. thank you very much for coming on. >> thanks. liz: a highly promoted debut, surging on ipo day, with hundreds of millions of dollars in losses and what's called a dual class structure. i'm not talking about lyft. no, i'm not talking about lyft, although lyft has all of those components. with the closing bell ringing in 19 minutes, looking back in ipo
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history. remember snap. snap was one of the most highly anticipated social media debuts to hit the scene in 2017, quickly becoming one of the most controversial stocks in the market. shares now trading nearly 36% below the ipo price which was $17. could history repeat itself with lyft? what makes lyft different? charlie gasparino running to the set with what insiders on the street are saying about this debut and who stands to gain or lose the most in lyft's long run. lyft is up 11.5% to $80.27. heading into retirement you want to follow your passions rather than worry about how to pay for long-term care. brighthouse smartcare℠ is a hybrid life insurance and long-term care product. it protects your family while providing long-term care coverage,
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liz: $24 billion valuation.
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21% pop at the open and beating its competition to an initial public offering, but which names on wall street are coming out on top following lyft's public debut? and you know, would their stocks be affected? charlie gasparino. >> i think that's a $23 billion valuation, just to be clear here. liz: right now. yes. it's a moving target. >> keep you on your toes. liz: i need that. >> very well. where shall i begin? did you give me the finger? liz: i gave you a finger. for those of you listening on xm, i did not. i used my index finger. >> i wasn't wearing my glasses. i saw something else. in any event -- liz: okay, mister. >> we have been crunching the numbers. just put this in context a little bit. lyft is the second largest ride sharing company. uber is the number one. uber is going to come public i think in a month or so, right? by june?
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they're going to be listing on the new york stock exchange. lyft came public on the nasdaq. here's what gets me going, you know. we're talking about a company worth $24 billion, $23 billion, with a negative cash flow of $350 million, has never earned a profit. uber has a negative cash flow of $240 million -- $350 million, not billion. i mean, there is something radically going wrong here. here's the thing. i covered the old internet bubble back in the day where companies had no earnings, no nothing, and they sold for huge valuations like the globe.com. remember that thing? liz: well, they were there yesterday. both of them. >> where is the globe.com now? liz: it is not in existence except in the history books.
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there was a lesson learned, we hope. >> look at what happened to the post-internet era ipos. google, companies like amazon -- not amazon, because amazon was back then, that was kind of a unicorn of the old internet age, but google, facebook. these are all companies with cash flow. they may not be profitable but they do have cash flow. i think what's kind of scary about this round of ipos, and it's not just there. we're talking, you know, you go down the line on a lot of the ipos that are particularly tech-related right now, investors are willing to pay, willing to roll the dice and pay up for these negative cash flow companies, and if you ask yourself why does the fed need to raise interest rates, well, by keeping interest rates low, you push people to more risky investments. i know larry kudlow is out today asking for another 50 basis points, he wants it lower. that's very strange to me. if you think you're getting a trade deal and the economy is doing great -- liz: i thought so, too.
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tom lee said yeah, cut rates. the guys in the banking world -- >> here's the thing. it forces people to take risks. they buy stocks. liz: what about the banks that took risks to underwrite this one? >> well, they don't take that much risk because they have it almost presold. my guess is -- liz: they get out clean. >> they get out clean. i think that's the thing you have to worry about. when you talk about why the fed needs to normalize rates, by keeping rates this low, companies like this keep getting a benefit from the markets because you don't buy other stocks. listen, i love netflix. do you like netflix? it's wonderful, right? liz: i don't watch that much scripted television. i'm very busy reading books. >> oh, yeah? reading teleprompters. liz: halo right above. >> but they have negative cash flow. they have off balance -- liz: hold on. lyft just went below $80. >> there you go. it's not $24 billion. liz: let's not be mean here. we are just calling it like it
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is. this was a stock that at its high today, hit $88. it's now at $79.06. >> liz, liz, there's a little bit of a bubble here with these stocks. i'm just telling you. you know, netflix, it's all because interest rates are so low. the fed, donald trump is jawboning the fed to keep interest rates so low so people take more risk. liz: which is something, by the way, he criticized president obama and janet yellen for doing. >> yeah. he said they pumped up the market. he's doing the same right now. listen, unless, i mean, let's give larry and donald the benefit of the doubt, they think a recession's coming and they're scared. that's always a possibility. by the way, you were going to ask me a question? liz: i was going to ask you how long you think lyft gets to be in the clouds here. i say that because there could be a lyft and an uber killer. waymo. >> waymo. liz: which is by the way, the ride hailing autonomous vehicle
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company that was started by google as a super-secret effort. >> do you trust these rebobotic cars? liz: we're going to find out. next week i want you to come along with me and the ceo, he and i spoke during ces in january, and he invited me to come along in a ride-along. the very first broadcast network to ride along since waymo hit ten million miles in its test market. >> waymo sounds like something dr. evil would develop. waymo. driverless cars. liz: remember the -- >> with laser beams. liz: woody allen. >> we're dating ourselves. liz: thursday, april 4th, you guys come along with me. i will bring you in the car with me live. >> am i allowed? liz: for a ride-along. it will be fine with me but he would probably say not that guy. >> yeah, because i might, you know. liz: thank you very much. charlie gasparino. >> i might shoot him with lasers. liz: lyft at $79.09.
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how is this one going to end? the dow we know is looking healthy, up 187. we are coming right back. don't go away. eight minutes before the closing bell rings. you wouldn't accept an incomplete job from any one else. so why accept it from your allergy pills? most pills don't finish the job because they don't relieve nasal congestion. flonase allergy relief is different. flonase relieves sneezing, itchy, watery eyes and a runny nose, plus nasal congestion, which pills don't. flonase helps block 6 key inflammatory substances.
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♪ liz: i have told you guys so much can change from the opening bell till now. four minutes before the closing bell. the picture is morphing for lyft shares. we are below $79 a share.
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we're at 78.50. you see from the intraday picture, what started off at 23% jump, as high as $88 a share, is looking to end around $78 and change. we're keeping eye on it. any day is big day for lyft as it goes public and market well-known names. gerri willis tracking all the action at the nyse. reporter: that's right, liz. boeing up 5% because they unveiled a software fix on wednesday for that are 737 max. take a look at that 5.28%. other winners caterpillar, united technology. that on trade. optimism, dow dupont down this week, leading the losers list. why? because it cut first quarter sales forecast due to midwest floods hitting agricultural division. verizon and walmart down as well. back to you.
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liz: dow back up to session highs, 205. i believe the session high is 206 points. we're seeing a pop at the moment and as we look at end of march before us, let's bring in mr. todd horowitz. todd, talking about the dow's first down month since december, barely, right? we don't know how that will end. talk to us, what you think the market is waiting for? the s&p is not waiting it is doing wonderfully. >> they're wonderful, liz. how are you doing? great to be with you again. the markets are in tight range. we're testing upper end of the range. eventually we'll break to the upside or downside. right now looks like markets want to break to the upside. this pattern confuses investors and traders, we go up and start going back down. looks like the dow will be out of positive territory for the month. i think number is 198. i think we'll close 220 or more. they're trying to break out.
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at some point we'll see much bigger move. i think we see six or 10% move either way when the market starts to break up the range. we're stuck in 4 or 500 up or downrange. liz: keep focused on the markets. nasdaq is at 62 points to the upside. we have strong move going into the final minute of trade. we're less than a minute away. dow jones industrials is hitting sessions here, keeping an eye on lyft stock as well. we're not hitting session highs. give me a sense where this market goes in the next quarter? >> i think next quarter might be a little bit rough, liz. typically end of the quarter. we had a great quarter. we push it up. buying comes in last day of the month, last day of the quarter. i don't think earnings meet up to expectations that we're looking for. taken into fact we had monster mood since december quarter where we were crushed. i wouldn't worry.
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investors stay the course. [closing bell rings] markets go up 8% not just every year. i think we'll be softer market. liz: with you. show the lyft board here. we look to close around $78 and change. melissa: there we go. connell: nice finish to a crazy day news weiss. green on the street. last trading day of the quarter. good way to end it. on top of all that, we're waiting for new comments to come in from florida and president trump any minute now. as we wait, we see the dow up 210. settling in to close at session highs. nasdaq ending up for the third time in the last four sessions. good to have you with us. i'm connell mcshane. melissa: happy friday. i'm melissa francis this is "after the bell." the dow fighting for gains, s&p 500, nasdaq in green for third month in a row. for the quarter, major

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