tv After the Bell FOX Business April 16, 2019 4:00pm-5:00pm EDT
minus inflation. real fed fund has been 1.7% the last 50 years on average. [closing bell rings] for the fed to give up at a low rate shows the fed is if trouble and they're very worried. liz: barry, thank you for joining us. nasdaq, 8,000 even. that will do it for "the claman countdown." melissa: we're moments away from the numbers that will impact your money tomorrow, netflix, ibm, united continental all expected to report earnings the next few minutes, all major averages ending the day in the green. the dow endings up 68 points. a new closing high for 2019. i'm melissa francis. connell: i'm connell mcshane. the nasdaq closing at new ice as well. s&p 500, fighting for some gains. up a point or so, point 1/2 into the close. we have it all for you. this should be a big hour. this is "after the bell." more on the big market movers. here is what is new at this hour
paris where hundreds of people are currently gathering for a vigil at notre dame after devastating the cathedral. police are investigating the cause of the fire. we'll have the latest on the investigation and the restoration efforts. plus budgeting for bernie. the democratic white house hopeful vowing to tax the rich big time as new numbers reveal the senator's grand plans including health care and free college tuition, would add up to about $20,000 per taxpayer. then there is boeing 737 max crisis. how it is starting to impact your summer travel plans. melissa: back to the markets. the biggest dow leaders today are caterpillar and boeing. some big news coming out about the plane maker. let's go to gerri willis on floor of new york stock exchange with that story. gerri? >> it has been a big day in the markets. the dow up a quarter point. the s&p 500 up marginally here.
the nasdaq up pretty strongly as well. all in the green. hitting new highs. good news for the markets. meanwhile let's talk about boeing. a decision from the faa, federal aviation administration saying that the software update to the 737 max aircraft operationally suitable. those words very important for boeing shares. they're up 2% on the news. faa says some additional training might be required because of this but, all good news for boeing which has suffered mightily in the wake of those boeing 737 crashes. very difficult for the stock here. i want to talk to you about another headline that has been moving the markets here. apple and qualcomm found common ground in battle over chip royalties. qualcomm shares are up 22%. last i was able to see apple was up marginally. they're dropping all litigation. as you know they have been fighting for some time. it impacted the stock prices. the agreement would end all on going litigation including with
apple's contract manufacturers. the companies reached a global patent license agreement and a chip supply agreement. this is important to the state of qualcomm's future business and as you can see, the shares soaring here. back to you guys. melissa: all right, gerri, thank you for that. connell: bernie sanders slamming tech companies for not paying taxes what turned out to be a heated town hall on fox news channel last night. let's take a listen. >> amazon, netflix, and dozens of major corporations as a result of trump's tax bill pay nothing in federal taxes. i think that's a disgrace. connell: you heard the mention of netflix. let's bring in our panel today, which includes gary kaltbaum. look up, gary, kaltbaum capital management president, fox news contributor. bottom of the screen, numbers are flashing across. we'll have time to go through, barry, detail on netflix what it
is reporting. heard bernie sanders go after the company on the tax side of things. what did you make of last fight, particularly on that, attack on companies? netflix down 4% after-hours. the reason i'm not giving all the numbers as they come across. we need a second to make sure we have everything right to put together. i tell you netflix reported earnings for the quarter. the stock is rower, down 4%. revenue is better, profit looking okay. we're looking at subscriber numbers, before we get to gary and sara, let's go to the newsroom to deirdre bolton. what are you seeing, deirdre? >> we're looking after-hours the stock is down 4%. for the first quarter there was a beat, very clearly as far as earnings go. actually a blowout number. so 76 cents per share. wall street looking for 57 cents per share. so a beat on earnings. if you look at revenue for the
fiscal first quarter, more in line what analysts were expecting, 4.52 billion, which indicates a 21 1/2 percent increase compared to the same quarter a year ago. the problem, the reason that you're seeing the stock move lower postmarket is because the second quarter guidance is really disappointing. wall street was looking for 99 cents per share as far as earnings go. netflix is guiding for earnings of 55 cents per share. basically half of the earnings that investors at wall street were looking for this current quarter. they're talking about revenue for this current quarter at 4.93 billion. we'll give you more details on that. of course, connell, you know this very well, the backdrop this company continues to burn cash. $3 billion what happened last year they burned through. expect more of the same this year. with it peaking, make exceeding that number. if there is concern about that, it is about the cash burn. i'm also waiting to see how many net ads there were as far as
subscribers. how many new people did netflix sign up around the world. this is the huge metric wall street is waiting for. the u.s. market more or less matures. the key is how many subscribers did netflix add from overseas particularly asia? i will be looking for that. let you know when i have them. guidance pushing the stock down post-market. connell: that is a mess. jump back in on international subscribers. analysts looking for 3.71 million to be added. get back to gary and sara. you saw them on the screen for a moment we'll allow them to speak. russell for our netflix panel. forget about bernie sanders. we'll get back to him in a minute. gary, that is a messy number terms of it guidance. if you're saying we'll have profit 99 cents a share and now you're saying 55 cents a share, you don't have to be a math major to figure out that's not good. what do you make of it? >> frankly they're lucky we're
in good market. would i expect the stock would be down eight to 10% on a number like this. it tells you they are paying a ton of money on kent tent and whatever buildout they will do across the world. the numbers they're paying people obscene. i'm jealous i'm not involved in that. i think that is what is doing the trick in here. of course going forward the competition we know what disney just announced this week. we know how disney's stock reacted. connell: right. >> netflix stock got hit but rallied up on an up grade. it is giving a bunch of that back. i can't wait to get neck deep in the numbers. certainly when you miss by half not a good thing. melissa: no, definitely. just to but in here for a second, everyone is reacting to guidance a little more color. they're expecting free cash flow to improve in 2020 and each year afterwards but it is really, let's see, sub additions of five million for the second quarter, missing the 5.5 to 6 million
expectation. this is coming in in dribs, drabs. i'll giving thaw part. this is some of the biggest stuff people are addressing. connell: sara, when we talk about netflix there is a lot to gary's point on the competition side especially with new disney product, disney plus coming out but netflix's own issues they are so dominant but one of the reasons they have a lot of content, and content gets very, very expensive i'm not sure if that is why the guidance is what it is but it costs money to have that kind of content on platform. >> the biggest time -- connell: sarah, something is wrong with sarah's mic. i can see the lips moving. russell, go to you for one second. we'll get back to you, russell, you spoke about that point about netflix. you have to pay up for content. go ahead. >> netflix will have to continue
to pay up for content. this is something, to the just a problem is going to go away. it has to produce more original content to attract more audiences from more groups that sign up for this. disney, apple are pulling at them in different directions. compete something really challenging. one of the reasons why earlier this week we saw netflix take the comedy set upto move it to sirius xm. that is something never done by the company before. we'll see more of the diversity all over the place. melissa: looking at the revenue guidance for second quarter is a little bit light. connell: oh, yeah. melissa: nothing like the earnings, 4.93 billion, versus 4.96 billion. connell: let me get sarah, sorry about your microphone issues. not that we didn't want to hear from you we just couldn't hear you. with did you say about the netflix challenges and spending about you go ahead. >> they are not an ip company that own franchises keeping people from coming back and not canceling the subscription.
the biggest challenge they're up against streaming services like hbo with warner media and disney where they have popular franchises where people watch over and over. connell: let's talk about that. sara, talk about that. on disney plus issue they come out with their own streaming service, obviously disney content, now that they bought the fox assets they have a lot of content. pricing was low, you get that for 6.99 a month i believe it is? the question, if you're going disney plus, saying i'm going with them and not netflix? more people analyst was expect would go both. it is not either/or, could be in addition. is that what people are talking to you as well. >> that is absolutely right. parks associates put out a study the average household will pay for three to four streaming subscription services. you're right, it could be additive but where netflix needs to be worried not necessarily disney plus. it is the bundle that disney could supply with disney plus.
you can imagine if you get a pretty low price, hulu, disney plus, maybe espn plus too for relatively low price, disney plus might not be the best netflix killer, but combined that is very attractive consumer offering. connell: weigh in on that. we'll get back to gary on some numbers in a moment. what about the competition and where netflix stands strategically? >> i think the biggest thing we're going to see is consolidation. you kind of got a taste of that with apple tv the apple tv plus service was more than offering original content. away of offering experiences in one place and one experience for navigating those things. netflix was not a part of that list. connell: we'll get ibm in a moment, gary, breaking. quick thought on netflix only 3% lower. maybe the guidance is not as bad in analysts minds as thought or the other numbers are holding okay. this stock usually moves on average what, five or 6% maybe
more than that? this is not a big move in netflix world, right, gary? >> i said we're in a strong market right now. i think it's a very forgiving market. i think it would be much worse if we were in a bearish market now. no matter what you cannot spin how much of a miss this is, not on the past but on the future. connell: okay. >> russell and sara completely right, competition. they have a target on their back. everyone will come at them on price an content. it will be couple interesting two years. connell: deirdre, you have more on this? what are you seeing? >> talking about the fact most people want to know how many new subscribers is netflix getting from domestics and overseas. another reason why we're seeing so much pressure on the stock in the postmarket, because the second quarter, current quarter net ads, pretty much half what the investment community was looking for. let me take you through the numbers. the company saying 300 new users will be added in the u.s. but if
you look to the wall street community, the analyst community they were looking for 670,000. so that's bad. overseas growth, 4.76 million, netflix saying how many new users getting overseas. wall street was looking for 4.3. less bad international but missing mark on both fronts. connell: stock is down only one 1/4%. breaking news. ibm results. gerri willis has those for us. gerri. reporter: connell split decision. 22.25 a share for earnings -- 2.25 a share for earnings. they're missing on the top line. this is the story we've seen time and again. beat on the bottom line, a miss on the top line. but here's the good news, ibm is maintaining eps for the year. so no negative guidance for the
year. it is positive, maintainingfied dance on cash flow. but stock down after hours. after being higher it is negative, down 1.65% as you can see right here. the stock had been up since the last earnings report january 17%. they're betting big, big on the cloud. this should be important with 5g coming but in this earnings report tonight they're maintaining earnings guidance for the year. this is what people are looking at when you look at these earnings reports. a beat on eps, a miss on revenue. back to you. connell: ibm, netflix, both selling off. gerri, thanks. melissa: we'll have more of senator bernie sanders comments from the very heated fox news town hall last night and how his ideas could cost americans a cool 20 grand each although i heard much bigger estimates than that. we're looking into his budget with james freeman from the "wall street journal" we're diving into his tax proposal with grover norquist, americans for tax reform president. connell: a vigil currently is
being held over in paris. we'll have the latest on devastating fire that caused massive damage to the iconic notre dame cathedral. we're taking you live to paris later on this hour. melissa: the number of measel cases rising yet again this month, now on track since the disease was eliminated as an epidemic nearly 20 years ago. we'll tell you what you need to know coming up. >> we have administered as i mentioned over 18,000, 19,000 mmr vaccines to date. that is what we need. we need more people to be vaccinated. we need our entire community to be vaccinated. ♪ ♪♪ ♪♪
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connell: more break being news. this time an airline out with earnings. united continental. let's go back to deirdre. things barely over with netflix. now she has to do united continental. >> as far as united, a beat on earnings, we're showing viewers own the screen, adjusted earnings $1.15 per share. wall street community looking for 95 cents, a clear beat. why you have the stock moving higher in the post-market session. a slight miss, analysts looking for 9.61 billion and united
posting $9.59 billion. interesting enough we cover how all the airlines are affected by the boeing 737 max aircraft. the fact they all had to ground them until august for the most part. just to know, united has 14 planes that have been grounded. you compare that to american which is 24 planes and southwest at 34. but just to recap beats for profits and a miss for revenue, connell. connell: eninvestors seem to like the profit numbers up 3%. thanks. melissa. melissa: the unequivocal democratic front-runner what fox news's chris stirewalt calling bernie sanders as committee for a responsible budget says his proposed policies could cost $20,000 per taxpayer. joining me is james freeman from "the wall street journal" he is also a fox news contributor. first of all committee for responsible federal budget that is oxymoron. >> we don't see too many of those. melissa: 20,000 per taxpayer i saw another one that said 60,000
per taxpayer, no matter what it is it is more than we could possibly afford. >> it will be huge. bernie sanders likes to say he will take it from the millionaires and billionaires. i guess now he talks about billionaires since he is a millionaire. but the point is, you pointed this out, the top 1% of people in this country have total income every year of about $2 trillion. if you took every nickel of that, it is not enough to pay just for his health care plan. which is once scored at 30 some trillion a year. now he added in the new version he introduced last week expanded long-term care coverage. he is coast sponsored the green new deal. he voted present, but he has said he wants a jobs guaranty. that has been estimated by some close to 100 trillion over 10 years that includes the health care plan. basically i think that 20,000 per person in additional taxes to pay for bernie's agenda is
low-balled. melissa: i love too, he revealed his own tax returns and martha maccallum and bret baier last night asked him why did you take the tax cut if you think it is unconscionable? why don't you pay more tax if you think millionaires should pay more tax? and he laughed. i said i will pay the tax i owe. which i thought, you know was a fascinating answer from someone who can't, who is dying to spend the rest of our money. but doesn't throw any extra into the pot himself and goes along with the tax cut that he thinks is basically criminal? >> yeah, he doesn't seem to be embarrassed at all people asking him how he is now lately achieved more than a million dollars of income in a couple years recently. said, well, if you write a best selling book you can make that kind of money too. i don't think, he really understands that idea that you work and you create something and then you extract profits
from that property is against everything he spends the rest of his day talking about. so there is a, there is a hypocrisy issue here. i think beyond the numbers, the amount of money a sanders government would take from us, it is the loss of freedom. we've been talking about how much this health plan costs. no one will be able to escape unless they are super wealthy like bernie sanders because he has created an escape hatch for people who can pay cash for all medical expenses and know it ahead of time. i think he ought to be asked why he is allowing people like him to get out of a system that other people will not be able to escape. melissa: it is also, whenever he talks about wages, how wages are not growing fast enough to keep up with the cost of living i always feel that wages are not growing fast enough to keep up with the cost of government. my largest single expense every month is my tax bill, more than
food, rent, education, what i have to give to the government. for people at home, just look at your paycheck and your payroll tax that goes, at the same time he is talking about taking even more of that money, to washington and your wages can't keep up with this huge size of government. you wrote a great piece recently, make washington small again. and you talked about the fact that one of the biggest disappointments, the probably biggest disappointment of the trump administration he too hasn't shrunk the size of government. >> unfortunately he struck the bargain that a lot of people do in that town which is, we can't set budget priorities so we'll have more of everything. more defense and more domestic spending. i would probably say yes we want to have a strong defense but, when you have this, you know, 22 trillion roughly in debt, that is the debt we acknowledge. it doesn't count a lot of promises of entitlement programs
going forward, you need some discipline at some point. but i think, to your earlier point, i think bernie, this is true, a lot of the democratic candidates he is running against the economy of the obama era. in other words, people with financial assets thriving, other people not seeing those wage gains. we are fortunately in an era lately of rising wages and with the tax cut rising take-home pay. so i wonder if the economy continues to perform well if he and others like elizabeth warren can continue to essentially attack the obama economy. melissa: interesting. james freeman, thank you for your thoughts. >> thanks, melissa. connell: all right. a little more tax talk as there were definitely sparks flying last night in the town hall. bernie sanders defending his plan to tax the nation's wealthiest individuals. here he is. >> so would you be willing to pay 52% on the money you made.
you can volunteer and send it back. >> you can volunteer too. >> you suggested everybody in your bracket should do. >> why don't you give. you make more money. >> i didn't suggest a wealth tax. >> she is not running for president. >> you fight for wealth tax. connell: martha maccallum not running for president. grover norquist, americans for tax reform president. as i'm sure i heard you watch, the grover the number came up was his number, top rate of 52%. that is what he ran on in 2016. he is sticking with it. with would actually look like? i'm sure that you run numbers? >> that is on top of state and local income taxes. on top of any number of taxes, property taxes, sales tax, that people pay. the reason why sanders wants a higher top rate is the same reason the countries like sweden and portugal, they have about 60% now. nobody is at 70% anymore.
everybody realizes that is crazy. frankly 50 and 60 are pretty nuts as well. the reason you have a high tax rate on some people, what european countries do, they have much higher tax on middle income people. so they tell people in the direct middle who pay 10, 15, 20% more than americans, if you count the value-added tax and higher income taxes, middle person in sweden is paying significantly higher income taxes and sales taxes that an american with the same amount of money. they tell that, none of us are really gouging the guy makes a lot of money. so you shouldn't mind losing two of your fingers because the other guy is missing three. they don't raise more money with the higher rate. every time we take the top rate down, higher income people paid more in taxes and more of the total tax. connell: now, when top, rate came down this last time around, melissa mentioned this a little bit, a few minutes ago, it was bernie sanders, paying a lower
effective tax rate that seemed to benefit from the trump tax cuts. it when that was pointed out at town hall he was rather dismissive. here it is. >> marginal tax rate was 26% because of president trump's tax cut. why not say, i'm leading this revolution. i'm not going to take those? [laughter]. >> we're -- i am, i pay the taxes that i owe. by the way, why don't you get donald trump up here, ask him how much he pays in taxes? connell: he turned that around on president or tried to. brings up a larger point, among his supporters i was in the room, there so enthusiastic about the plans and trump tax cuts, even someone likes people have more in their pockets they don't poll as well. i don't know problem with selling it or problem with perception, people don't know they got a tax cut when they did, that is interesting what is going on. what do you make of it?
>> we've been through this before, when reagan cut taxes in '81, in '82 the republicans got beat in the elections even though the tax cuts started but by 84 the economy was doing well. people knew exactly how much their taxes had come down. reagan carried 49 of the 50 states. we're year-and-a-half out from the next election. people had one year, now looking how much lower their taxes have been. the economy is started to grow. before we expected. all the point of lower corporate rate was to get more investment so two, three years out you would have much greater productivity. we're now entering that period where we will see even more growth from productivity. connell: okay. so takes time is the larger point? >> we're going to have an election after people have looked at their tax returns a couple times. connell: we'll see how that all plays out. plenty of time to cover it. good to see you, grover norquist. >> okay. melissa: building a better border wall. that is what one construction
company is hoping to do. they're showing their idea off to lawmakers in arizona. we'll take you there live next. connell: more on the boeing fallout, how it affects summer trillion. we'll speak with the analysts about new developments, what it might mean for your next trip. we'll be right back. ♪ ♪ ♪ means to fight the hardest battle, which any human being can fight and never stop. does this sound dismal? it isn't. ♪ ♪ it's the most wonderful life on earth. ♪ ♪
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connell: now to a revamped border wall. there is a construction company claiming it can build the wall faster and cheaper and is showing off the idea to lawmakers in arizona. fox news's william la jeunesse on the ground in coolidge. william. reporter: well, connell, agents will tell you that border security requires three things, a fence to stop and slow people, cameras so you know what is coming, you see that there, a road hike this to get there quickly. this arizona company is promising all three for $15 million a mile. less than the government is currently paying for just a fence. how do they do it? let me show you. today, backhoe comes in, puts in
a six--foot deep trench. they drop in the prefab bring indicated steel fence like you see here. over there is an excavator that brings in each panel. already made. 56 feet long. then they bring in the cement, put it down here, boom, you have got a fence. now the unique thing i want to show you. they put in a fiber-optic cable. on this side and that side of the fence. what that does, it provides some detection. lets people know what is coming, 50 feet, excuse me 20 feet away. it gives agents, when you pair that with radar in the camera, a sense what is coming in front of them. it can detect people tunnel, climbing, horses, vehicles, you name it. how much is the package? $3.2 billion for 218 miles they say they will finnish 14 months. some members of congress attended the demonstration and to ask themselves is this a good investment? >> with our technology we have
the technology to easily produce over a mile a day. if the contracts were bigger, we could gear up to our threshold of two miles a day. >> if someone has ability to do it faster, cheaper, higher quality, bonding if you will to protect the taxpayer from all those claims not being true, i'm interested in that. i think the taxpayer is as well. reporter: so the border is 2,000 miles long, about 754 miles is fenced, 2/3 pedestrian, 1/3 vehicle barrier. president wants 450 miles roughly by the end of his terms. they invited 10 democrats. the you about they did not attend. this is unsolicited bid. at least from the lawmakers perspective they have a yardstick what to expect of all the bidders. now, in terms of money, the president asked for eight million dollars in terms of national security declaration. he wouldn't need congressional
approval for that but he would need to change the asylum laws. that as we both know is the problem we have today. back to you. connell: interesting stuff. great explanation from william la jeunesse in coolidge arizona. melissa: i love the american spirit. breaking news, netflix down after-hours. it had been down as much as 6% there. you wan see it, we're covering, down 1.6%. this was after the streaming company announced weak guidance for the second quarter, including in its global paid subscriber additions for the first quarter. netflix reporting its highest quarterly paid net additions in history. netflix says the company is quote, excited to compete with apple and disney. i bet. adding that the company doesn't expect new entrance to materially affect its growth. isn't that optimistic? connell: not really much movement percentage wise in the stock. we'll see how it does tomorrow. then there is this. we'll get to paris, repairing
notre dame. a vigil underway, being held at the historic cathedral. french president macron vowing to rebuild. we're live in paris in a moment. we'll have the latest for you. melissa: a growing health crisis across the u.s. a measles outbreak rocking the nation and what you can do to keep it from spreading. ♪ et to know the people that drive a company's growth and gain new perspectives. that's why we go beyond the numbers. t. rowe price. invest with confidence. that's why we go beyond the numbers. you wouldn't accept from any one else. why accept it from your allergy pills? flonase relieves your worst symptoms including nasal congestion, which most pills don't. flonase helps block 6 key inflammatory substances. most pills only block one. flonase.
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melissa: breaking news. shares of sprint and t-mobile sinking after-hours on a "wall street journal" report that justice department staffers have told the companies that their planned merger is unlikely to be approved as it is currently structured, casting doubt on the fate of the 26 billion-dollar deal. look at those stocks. connell: yeah, 10 and 4 1/2%. all right, now, picking up the pieces. french president emmanuel macron promising to rebuild the historic notre dame cathedral within five years after much of it was destroyed in that ferocious fire. molly hine is live on the ground for is? paris. reporter: ashes floating in the air but many streets around the island where the cathedral sits. we watched this afternoon, as experts as segs structural integrity assess what is remains and done their work. at this time yesterday was
enormous fire, the famous spire on top of the historic building crashed down. the fire raged for 12 hours and there were fears all would be lost but investigators say the famous edifice and the world known twin towers at the front have been saved. the determination still being made as to whether or not the structure is safe, safe to investigate, safe to go in and seek further answers but the working theory here at the beginning of this investigation is that this likely was a tragic accident related to the renovations of that spire and the surrounding structure. much of the roof was made of timber. some of it hundreds of years old, witnesses here on the streets as well as watching on television around the world know that wood burns swiftly. france's wealthy and elite business families including those involved in the country's elite fashion houses promised outpouring worth millions of dollars. as you mentioned the french president, emmanuel macron, promising a swift timeline hoping to get things
reconstructed and fixed within five years. connell? connell: molly line, thanks. molly line in paris. melissa: here is to react a professor of art history at duke university. can you put this into perspective for americans? i mean we have a few native-american, relics or, you know homes, basically that are this old but nothing else. what does it mean to the world, what does it mean to the country? >> to have this building so badly damaged, well, of course the cathedral of notre dame is in the center of paris, the capital of france. it is the building that since victor hugo but also before was a really powerful symbol of france, of french identity, of nationalism, of the great french gothic style. so this building is of incomparable importance. melissa: can you speak at
all-knowing so much about it, to sort of how they were unable to get control of the fire? you know they talk about the tremendous amount of wood inside and the way that the flames were sort of trapped inside. does it make, do you think it will make people rethink what to do with historic sites like this in order to preserve them and try and you know, keep them in their original state, but try to prevent something like this from happening? >> let me explain a little bit to your audience what the problem is. melissa: yes. >> when you walk into notre dame you look up you see the surface of the vaults. what you do not see is what is between the vaults and the roof, which as your reporter mentioned is kind of like a forest. it is a huge amount of carefully structured timber that supports the roof structure and it needs to be very strong and very heavy because it resists winds that are often beating against that
roof structure. so that huge amount of timber was very old, dried out in the summer, frozen in the winter, would go up like a matchbox. that is what people saw. that is what made us all terrified for what was happening down below. now this morning we see from the photographs that it looks as though only two vaults have been penetrated. one would have been penetrated probably by the collapse of the spire. the other one seems to have been broken through, not as badly. the question will be though, what happens to stone when it is exposed to such intense heat? because if you think about your garden and putting lime in your garden. melissa: right. >> lime for your garden or for concrete is made from burned stone. when you burn stone it doesn't actually catch on fire, becomes soft, grainy, fryable, will eventually become a powder like
limestone. so like lime in your garden. so we need to, they will need to assess stone by stone on the upper surface of the vaults that survive and on the upper vaults how bad the damage is and i believe a careful assessment will take a long time. melissa: yes. >> meanwhile those vaults are probably, some of the vaults are probably destablized. it would be very dangerous to go in there with possibility of further collapses or very uncertain situation. melissa: wow. >> of those vaults. >> caroline, thank you so much. i wish we had more time. you have so much knowledge. thank you for bringing it to us. >> you're welcome. connell: united airlines grounding all boeing 737 max flights to early june. what that move might mean for a busy summer travel season. that's next.
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connell: we have breaking news. we're going to talk about boeing because united continental reported earnings earlier this hour. profit is up. so is the stock, sold more tickets, cut costs. standing by its profit target for the year. despite its boeing 737 max jets remaining grounded to early july. henry joins us, travel industry analyst. and one of the questions people have been asking, henry, granted
united has fewer of these planes than american or southwest but when you have these planes grounded now heading into the summer travel season, what will the impact be? >> impact for the traveler, fewer flights. that means fewer low fare seats. the good news this is not major inconvenience. it's a inconvenience, if it is your flight, of course it is the end of the world. connell: that is always the way. but other airlines, airline by airline. southwest seems to have a bigger issue here. they report earnings next week. >> right. southwest stated they will have approximately 160 flight cancellations a day. american at 115. in april united said they canceled just 130 for the entire month. so united is being very creative how they're approaching this even though they have got 14 max jets out of service. connell: what do you make of the way things are progressing with boeing? the faa panel says the fix they put in place, the planes are, i believe the phrase was
operationally stable or suitable was the phrase that they used. you would hope with a plane, right? they're getting there? what did you make of that? >> i interpret that as there's progress but, suitable is is not fixed. the faa said this panel recommended that simulator training would not be necessary. that is going to save the airlines time and money, getting the plane back into service which ultimately is good for the traveler. connell: none of us know what we're learning the last few weeks about more, is it taking longer than even the expert was anticipate to get this whole thing figured out? >> i don't think so. this is very complicated problem. it requires very thorough analysis. connell: henry, appreciate it. >> thank you. melissa: the u.s. is on track for the worst measles outbreak since 2000 as the virus hits another state. we'll bring you the latest in the ongoing outbreak.
melissa: we could see the worst measling outbreak since its elimination in 2000. the flare-up in michigan is lingered on going crisis here in new york. bryan llenas in the newsroom with more. reporter: fox news learned new measles case in michigan began in brooklyn, new york. no state has been hit harder than new york. the center of the outbreak in brooklyn orthodox jewish community. the city is expecting number to grow in nextly 3 to 5 weeks, county announced new emergency
measures, anyone infected is banned from visiting public places. last week, new york city health department issued a rare order making vaccination mandatory in 4 hardest territories 5 parents have filed a lawsuit anonymously claiming it infringes on their religious rights. melissa, vast majority of medical community agrees, vaccines are safe and necessary to stop this epidemic, this is highly contagious, people really need to get vaccinated. melissa: wow, all right brian ye-- -- the vaccine is different from the flu. this is like comparing apples and orangessis.
connell: brian said you have religious beliefs playing a buying part. melissa: "bulls and bears" starts right now. david: breaking news, note flick shares -- netflix shares sliding after hours. way off its lows, less than a percent off, recovering from a more than 6% drop. it was guidance that was a problem. not so rosy going forward, we'll bring you details coming up. >> i embrace the issue i am a millionaire. this year we had 560,000 dollars income, in our case it came from a book that i wrote, if anything thinks that i should