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tv   Varney Company  FOX Business  February 4, 2016 9:00am-12:01pm EST

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we don't have enough data and we need to find that out, but this is a week for celebrating the game. there's a lot of things to talk about, obviously, in and around the nfl that as we get closer to the game it becomes more and more about the game and that's good. maria: brian, thanks for watching, coach billick, that will do it for us. "varney & company" now, stuart, have a good show. stuart: thank you very much, maria. like it or not. politics rules. the election has certainly captured attention just look at what's going on today. good morning, everyone. let's start here. a nasty fight between donald trump and ted cruz. it's all about dirty tricks. but as the two republicans fight does the door open to momentum man, marco rubio? for the democrats, bernie attacks hillary because she took millions from wall street. when asked about that, she stumbles and her e-mail trouble expands again. yes, it is a crisis for her. meanwhile, in little rock, arkansas, trump fires up a record crowd of 12,000 people.
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the most they've had in that stadium for 42 years, jeb, in new hampshire, he has to ask for applause. the facebook juggernaut goes on. gopro sinks, gun sales take off. we have it all for you. "varney & company" is about to begin. ♪ >> all right, look at this. martin shkreli, the guy there on the right in front of you on the screen. he's the former ceo of turing pharmaceuticals. he's on capitol hill. his lawyer says he'll remain silent. they were going to ask him to testify about sharply higher drug prices. he's going to stand up and take the fifth. that's what's going to happen. hopefully you'll see him stand up and take the fifth. we'll be on that one for you. right, look at the markets please, here is how the dow is going to open up in about what,
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28 minutes' time. we're down about 80 points. we started out higher with oil, we move lower along with oil. oil has gone up a little bit so the market is not as far down. have you got this? oil and stocks, married together. share price of gopro, it's going to open round about an all-time low. it reported a loss and warned about future sales. it makes a great camera, about all it does. who is going to buy the company, that's the question. it's going to open up around 9 bucks a share. the political story this morning, let's get to it, shall we? that's what everybody wants. hillary clinton struggling at a town hall event when asked about the speaking fees she received from goldman sachs. listen to this. >> i make speeches a lot to groups, i've told them what i thought. i answered questions. >> did you have to be paid $675,000. >> well, i don't know, that's what they offered, so-- . [laughter]
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>> you know, every secretary of state that i know has done th that. >> i wasn't committed to running. i didn't -- i didn't know whether i would or not. >> you didn't know whether you would run for president again? >> when i was secretary of state, several times i said i think many' done, you know, so many people came to me, started talking to me, the circumstances, the concerns i had about the republicans taking back the white house. stuart: i don't know, sarcastic or what? she didn't know whether she was running or not when she stopped being secretary of state a couple of years ago. joining us now clinton fundraiser harley littman who arrives with a smile on his face. >> glad to be here. stuart: you contribute to hillary clinton. >> i do. stuart: are you going to give her more? >> i will. stuart: why? >> because she has the most experience. stuart: how do you handle something like this, oh, i didn't know i was going to run
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for president when i stopped being secretary of state. do you believe this? do you believe it, harley? you know her, do you believe that she didn't know whether she was running or not when she stopped being secretary of state? >> i think she's dealing with a huge liberal onslaught and she should not apologize for taking money from business. businesses create jobs and banking is a big part of the new york economy she was a u.s. senator from new york. i think it's fine. i think she's a little bit too defensive on it. stuart: what you're talking about is just taking money from wall street and a super pac with 15 million in it from wall street. that's what you're talking about, that's not a problem, i take it, right. >> all candidates take money from people as long as it's done legally. stuart: bernie sanders bernie sanders doesn't take from wall street. >> donald trump.
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>> donald trump is a billionaire. stuart: you're in trouble, your candidate is flawed. you're still going to give money? >> the bar was set too high. in iowa it's an extremely liberal state and an anomaly. it's basically all white, you don't have minorities and she still won, obama beat her there in '08 handily, but i think she's doing better than you think. stuart: barely. >> the bar was set unrealist unrealistically high. in that server in the barn in, know. there were tactics for overseas, and it was there for every hacker to read. she may be indicted. will you it still give her money. >> the u.s. government doesn't protect anyone from being hacked. i don't think it's any more protection even if it's on her own personal server. we don't know what the facts are. stuart: yes, we do. >> no, there's discussion what
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is classified information. stuart: we do. >> the state department even said themselves what they sent her was not classified andlater deemed classified. fact number one, all of that was on her private hackable server. item number two, her judgment is awful. >> well. stuart: ten seconds. >> you're mistaken on that. she made a mistake on that and learned from it and never do it again. stuart: thank you very much indeed. martin shkreli, you watched him there, can we listen to are a second. >> congress passed unanimously out of house with voice vote and only one dissenting vote in the senate as i recall, the generic drug user fee act in 2012, the act promised shorter wait times for required applicants to pay $1.5 billion in user fees over a five-year period. despite these fees and their promises, the fd.
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a still has a backlog-- >> okay, you're going to see a lot of hard questioning of people in the pharmaceutical business today on capitol hill. ashley, i think i'm right in saying this has got nothing to do with shkreli's indictment on fraud for his hedge fund. ashley: it's raiding a hedge fund. this is about pricing in the industry and the fact that he raised-- when he bought over a company he raised the price of a certain drug by i think it was a thousand percent. stuart: we'll get back to the hearing, i don't know fireworks, he'll plead the fifth, but you're going to hear some harsh questions. political theater. political theater, speaking of which, donald trump calling out ted cruz for those dirty tricks in iowa. trump says he could have won if not for those dirty tricks. here is karl rove explaining how. >> the gap between donald trump and ted cruz is 6,239 votes.
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there are 1500 precincts, do the math. if this message caused precinct captains in the precincts to tell the carson people, well, your guy is getting out. he's having a big announcement later this week, caucus with us, if that cost carson four votes a precinct to switch to cruz, cruz beats trump. stuart: that was a good explanation, you could follow that. what is trump saying about this, he was on greta, pulled no punches, roll tape. >> he did it on purpose and then apologized after the votes were counted. that's thousands of votes that were taken away which, by the way, would have given me, in my opinion, would have given me the election. i think what he did was a fraud and voter violation statement looking like it came from a government was a fraud and i think it's a disgrace that he did it, but what he did to dr. ben carson, a very good person, with are he said he left the royce, vote for us.
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i think that's something that is really very serious. stuart: what do you say? >> you know what? they're not running for the vatican, dirty politics and dirty tricks as they say in politics is not that unusual. i do think that mr. trump has a good point and certainly ben carson does, oh, carson, we understand could be dropping out flying off to florida. those votes for carson probably went for cruz and that's not great. they're not going to go back and redo it. >> without the extra votes for cruz, trump could have-- they're not going to overturn it, but look, put aside this fight between these two candidates, bring in ashley please, because i'm going to chuck this out. doesn't this fight pave the way for marco rubio to march right up the middle? >> oh, it certainly does and just look how well he placed in iowa, that was a surprise that night that he placed so close to donald trump. so, i think right now, the issue is, with cruz and trump feuding, it's definitely paving
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a path forward for rubio who, honestly, is different from the other two front runner candidates because those two should be joining together as the quote, anti-establishment outsiders, whereas rubio has been pegged as an establishment candidate. so, i think at this point, with the two of them arguing and not banding together, you're going to have a lot of voters who are maybe going to shift positions and say, who is the strongest candidate of those top three that won in iowa and that's what you're going to end up happening as a result. stuart: are you discounting the rest, jeb bush, john kasich, chris krchristie et cetera, and say he's the guy? >> i'm on the ground during the campaign event. christie, kasich they definitely have a strong ground game. i haven't seen much in the way of jeb bush. i attended a rally for him. not much excitement. you saw him having to ask the audience for applause. it's not a good sign, but you've seen a lot of excitement around the other two governors
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and their phone banks are busy, they have door-to-door knockers going out there. so, they have strong ground game orangeses, so i think it's still very much in play for them. but rubio is definitely in the mix there and polling in third in new hampshire. stuart: ashley, you just mentioned jeb bush asking on the stump for applause, you got it from social media. because it was all over the place last night after it was said, the first thing i saw when i woke up. it had a huge impact, didn't it? >> oh, certainly did. and that shows you right there how much he is just struggling to get excitement around his campaign. and this has been something he's dealt with for a long time when you saw trump criticize him as being low energy and he's tried to get back out there to no avail. in new hampshire, this is the last state that jeb bush can play in. if he doesn't do well here, i don't know what can happen to his campaign. you can have all the money in
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the world, but if you can't generate excitement around your campaign, it's pretty much dead in the water and he definitely has not had that type of support in new hampshire. >> you've got to have the votes. ashley pratt, thank you for joining us. we're dealing with the markets, not so far down. we're dealing with oil, up a little bit this morning. we're looking at gold. $1155 an ounce, we've got that for you, plus this, the hockey player, he made this, he hit the referee, suspended for 20 games, second longest suspension in history involving the player and the ref: next, the hillary clinton e-mail scandal. is there any way she does not get indicted? back in a moment.
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at ally bank, no branches equals great rates. it's a fact. kind of like grandkids equals free tech support. oh, look at you, so great to see you! none of this works. come on in.
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my dad gave me you know.ares, he ran that company. i get it. but you know i think you own too much. gotta manage your risk. an honest opinion is how edward jones makes sense of investing. >> martin shkreli is in front of a congressional committee.
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elijah cummings says it's blood money because shkreli raised the price of a life saving drug. we're told that he's sitting there smirking. a company that is cutting a dividend and cutting the budget and it's a fallout from cheap oil. shell down in profits and reporting they're cutting jobs as well. ashley: 10,000. stuart: 10,000, thank you very much. stuart: lowest in years. royal dutch may open higher. king abdullah of jordan is at a boiling point with syrian refugees, and we can't let them more in. findings jobs for them. >> europe is at a migrant boiling point.
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don't ignore this story because it's over there, it may well come here. and hillary's e-mails, the state department has classified seven more of her private e-mails as top secret. roll tape. >> the press has reporting there is 22 e-mails, there's actually more than that. >> i've never read anything more sensitive than what the e-mails contain. they do reveal classified methods and classified sources and classified assets. >> i don't know how anyone could see whether they're sending or receiving them, and not realize they're highly classified. >> and serving on the house judiciary committee, from what you've been told openly in congress by chris stewart and others, is there any way that the fbi will not recommend indictment? >> stuart, good to be with you. look, that's the fbi's call,
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the justice department's call. obviously, what congressman stewart had to say, i think, is revealing, but they get to make the final decision. what we do know is from the start when hillary clinton, i happened to serve on the benghazi select committee, we know that secretary clinton took her e-mails and decided which ones were public and which ones were private. she got to make that determination, we have no idea what search terms, what parameters, who oversaw that process, who made the decision, then the fbi goes in and gets the server now we find out the fbi and statement-- state department is saying they have a number. stuart: i know the fbi decides. i don't know see how they don't indict, that kind naming the names of our intelligence people overseas in active intelligence work on her private server in her barn in chappaqua available to all able
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to hack into it. are you with me on this, can you see any way the fbi cannot indict her, will not indict her. >> remember, those, stuart, this is the same justice department that didn't indict anyone in the targeting of conservatives in the internal revenue. stuart: but this is the fbi. >> i understand. stuart: maybe the justice department will say no, we're not going to press the indictment, but it's the fbi which will recommend or not indictment. >> yeah, i understand. stuart: sir, i've got to come back to it. there's no way that the fbi will not indict her, surely. >> well, look, we'll find out at some point and if the evidence is there, then they should do that, they should follow the evidence and the evidence seems compelling. ultimately it's their decision and the justice department, and the fbi to do the right way i'm nervous about this justice department based upon what i've seen particularly when it comes to what they did in the internal revenue service, that
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investigation. stuart: we'll have quite a crisis if the fbi says indict and the justice department doesn't do it. that would be a crisis. thank you. >> good to be with you. stuart: back to capitol hill. more testimony-- actually not going to be testimony from martin shkreli. ashley: right. stuart: it's harsh questioning of martin shkreli and it's ongoing. ashley: the government reform committee for those of you keeping track at home. basically they're looking into the high price of drugs and he's become the poster child, shkre shkreli, that is, in fact he hiked a life-saving drug for 5,000 percent, he's going to take a fifth amendment right. he's smi he's smirking, you know he's 32 years old. he looks 19.
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it's nothing to do with the charges of criminal fraud, something to do with him taking money from a hedge fund. stuart: they're being looking into the pharmaceutical industry talking about raising the price of drugs. ashley: they want to them to justify the price. stuart: they're on the hot seat. there is shkreli, they're being introduced to the audience, so to speak. the questioning will begin at some point in the very near future and we expect that mr. shkreli will take the fifth. here they are, they're rising, promising to tell the truth. let's listen for a second. >> the testimony you're about to give will be the truth, the whole truth and nothing, but the truth. thank you, please be seated. let the record reflect that the witnesses all answered in the affirmative. in order to allow time for discussion, we would appreciate your limiting your oral statements to five minutes.
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mr. merit, are'-- are' recognized for five minutes. i'm of the pharmaceutical care-- >> we're listening to opening statements from the people involved in this hearing. it looks like they're going to save mr. skelly until last. when woo we get to him we'll go to him. ashley: you mentioned valeant pharmaceutical, canada's largest drug maker, and they're accused of raising prices for cancer, aids, you have it and they'll be answering questions. stuart: we had a video a few minutes ago of martin shkreli of kind of rolling his eyes. is that, that's just a few minutes ago, kind of smirking. he's looking around. rolling his eyes a little bit there. ashley: doesn't seem
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particularly bothered. stuart: that's elijah cummings saying this is blood money, you've raised this drug 5,000%, that's blood money. and he's rolling his eyes. we'll take a break. hold on a second, look at this am i right? look at this, cam newton, he'll have most of his super bowl earnings eaten up because of california taxes. we've got this story. ashley: it's insane. it's a complicated tax code for the athletes because don't forget they play across the country in varying states so there's a calculation, how many days of your season did you spend in this state? and compare that to the others and come up with a ratio, what does that mean? put it this way. if he wins on sunday, cam newton pays california, 159,560
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in taxes. if he loses, he pays $159,200 so basically he loses either way. this is the most remarkable stand on that. if he loses, his effective tax rate on all of this, don't forget, federal tax, 40.6%. he comes out at 198.8%. stuart: that's ridiculous. ashley: it's absolutely ridiculous, but because of the way they calculate their taxes, don't forget, they take his overall salary here and bonuses for winning in playoff games and bonuses if he wins the super bowl and put that altogether based on the amount of time he spent in california, is the calculation on his tax. bottom line, win or lose the person doing the dance in the end zone is their tax man. [laughter] how ridiculous. stuart: oh, california. ashley: peyton manning when he played in new jersey ended up losing, i think he paid like 105% in taxes and actually paid
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out and never got any money. stuart: that's ridiculous. that's absolutely ridiculous. ashley: insane. stuart: why on earth do they hold a super bowl in california? >> every player is something. stuart: stop this, i don't want it, i don't want to win or lose i don't want to play that. that was amazing. thank you, ashley. ashley: you're welcome. stuart: coming up the opening bell and mr. shkreli, we'll catch him pleading the fifth. back in a moment.
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stuart: we are following the case of martin shkreli. he will be testifying today in front of a house panel looking into the high price of drugs and escalating drug prices. mr shkreli rose a price of a drug buy 5,000% which is rolling his eyes and smirking, probably the most unpopular capitalist in the world at this point. when he takes the fifth and we expect him to do that you will see it on this program, you will watch it live. you are going to get it. "the opening bell" coming and things have been changing around all morning. we started higher because oil was up. then we moved lower because oil
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started to go down. now i see oil up $1 a barrel. we expect dow industrials to open flat. we have 10 seconds to wait to see if i am right or not but when the bell is rung -- 3, 2, help me out, it is 9:30, away we go. dow industrials have opened 11 points lower, they have opened a points lower. i am calling it flat. the stock i want to look at verse is go pro. like it to hit a new low, $9.06, lost a lot of money. they got a dismal forecast, they were an ipo darling, maybe they are right for a takeover now. analyzing all this we bring in ashley webster, liz macdonald, scott shellady and jack how. go pro, good product, i got it, that is their only product which is that the go pro story in a
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nutshell? >> they tried to tell a different story for a while, we are creating this ecosystem, there is going to be content, there's a lot going on. i am reminded of a picture of an old radio shack flyer, 80% of the product was made obsolete by the iphone. go pro, these getting better and better, this is a different audience doing different things but how many of these people out there -- stuart: buy that thing on the ground that somebody might buy that. >> facebook could integrate with the virtual reality head set. this stock is down 90% since this ipo. ashley: is saturated. >> something that is already a good story. stuart: we decided somebody would buy go pro and resuscitated. look at facebook.
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today is the twelfth anniversary of facebook cheese mark zuckerberg starting the company in his dorm room. the stock is up 7% this year alone. all right, take the big picture here, is facebook the tech stock of the year? liz: yes. what mark zuckerberg is saying is you wants to connect 5 billion people to face book by twenty-third, 7 billion people on the planet.n half of the pla the internet is on facebook. he could do it. stuart: is that a monopoly? liz: it could be. you have to sit over that one. >> i get on facebook? stuart: is it the tech stock of the year? >> i think it is because their earnings estimates that going up rapidly, facebook is cheaper than using, facebook and google, who bring out the online at dollars. stuart: amazon and netflix,
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those stocks are down 20% this calendar year. the first week of february down 20%. do you buy a company like amazon on the way down like this? i go back to you, by amazon now. >> i get steamrolled every time i say something negative about amazon stock but look, this stock has been rising with no earnings, people very excited and optimistic about the future as we show more earnings. i have got a theory that the reality will subtract the excitement and valuation will come down. amazon the company has a bright future but there are some thoughts remaining. stuart: look at oil. it was up 8% yesterday, big jump. even though there was a big increase in the supply of oil available the price went up a lot. look at that. is up another $1 a barrel now, $33.38. scott shellady, you are our oil guy. what is going on?
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>> was a great example we exhaust all the shorts, had a standoff after the bearish news came out and there was no news sold into the market so you saw the shorts are to cannibalize themselves on the way out and that will continue today. oil screens at 50, i think in the short term it is starting to sell another dollar or two higher but ultimately i think it is getting hard to go aggressively short oil. ashley: i think the weak dollar has a huge impact, the fed i don't think will raise rates four times this year's so that has given weakness to the dollar, cheaper to buy oil, people buy the oil in u.s. dollars, the theory being oil will start to see demand goal of. stuart: has been weak in the last couple days. look at that, $33.47 as we speak. oil is up, stocks up. look at conoco phillips losing money cutting the dividend
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lowering the budget, that is fallout from cheaper oil, 30 days on conoco phillips. the fallout, shell, europe's largest oil company is cutting jobs, reported its lowest profit in 13 years. i see royal dutch shell up. want to see that one? >> it is not cutting dividends, another company, conoco phillips cutting the dividend in this low of tough news, you noted the lowest annual income they made in 13 years, they cut jobs, cut down the project they have, reserves have dwindled by 20% so that is the bad news. the good news is they have a dividend of 8%, they are not adding that. stuart: if you can get 8%. >> they declined to give guidance in the future but said they are not lowering their dividend. stuart: 8% on a company like shell. good lord.
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that is a lot better than treasury, the negative interest rate there. duncan doughnuts reports unexpected drop in sales in america, stock is down 3%. ralph lauren, their sales are down. a big drop, 14% to the downside, 98 on route lauren, higher sales at grubb, but up 9.5, when you talk percentage terms you know they are moving, 10%, but bizarre homes, they make homes, build homes, 7% higher, they have better profit and better sales up the coast. wait for it. credit suisse down 12%. that is hit on a major -- what do you have? liz: worst performance in 25 years, the stock is pounded right now. the bank is saying global trading revenue is down. another indicator of the water
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cooler talk picking up on wall street, global recession, the u.s. could be tipping intuitive trading revenue is down dramatically. stuart: they don't give it all back to you. liz: you give the government some money in negative rates. stuart: look at the stock, sumner redstone stepping down as chairman, replaced by lesley, he's 92 years old, stepping aside. ashley: late last month the judge in california said redstone should undergo a mental competency exam. he was sued by a former mistress who said she is basically living ghost. all of this is the backdrop to him saying he is stepping down. he will stay as ceo of cbs, the redstone today will be stepping down.
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stuart: he held on as long as he could. really had to push him aside and stock has gone up. how about -- this is a good story, smith and wesson they make guns, the fbi conducted more than related background checks this january than at any other january since the system was created. it is the ninth month in a row of record number of background checks for gun stand-up goes that stock. liz: 2.5 million background checks is a lot of background checks in the month of january. stuart: 2.5 million background checks is the prelude to buying the gun. liz: that is on the heels of december at 3.3 million, the most background checks for the month of january since 1998. stuart: scott shellady in chicago, anything to say about this? >> you know i do. if president obama doesn't make enough on the speaking for when
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he is out of office, he will have a platform, because we have sold more guns than any other president. stuart: sarcasm is a low form of which. >> i want to caution your viewers this can create a boom for sales but also be vacuum on the an end. it is difficult to read these cycles for these stocks. stuart: we got it. bernie sanders attacking hillary clinton over speaking fees. hillary clinton is vilified for making money. this is america. since when has a presidential candidate been vilified because they made good money? >> i don't think it is the amount of money she made that the people she made it from. people are worried she won't be impartial towards some of these big banks and not be able to rein them in and this is a problem for hernando left,
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bernie sanders is not speaking out against these banks. liz: you are right, this argument, you are in america, you should be able to make money wherever, that is why this argument about hillary clinton is not gaining any traction. what could gain traction is housing finance reform bills died, none of the with co-sponsors in the senate and she is taking more money from the financial sector and and her husband did during his political career. >> in the arkansas days did she turn a one thousand dollars and to $1 million? >> go back to cattle futures. she seems to be doing really well. stuart: sarcasm is a low form of which. but very effective nevertheless. i give you the last word on a presidential candidate vilified for making money. >> should probably use her cattle broker, the person was
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flipping the:back in iowa, the same person. stuart: listen in. >> i want to ask you a few questions. what do you say to the sick old pregnant woman who might have aids, no income, she needs it in order to survive. what do you say to her when she has to make that choice? >> on the invoice of counsel lion but my fifth amendment privilege against self-incrimination and respectfully decline to answer your question. >> you were quoted on saying on fox 5 in new york if you raise prices and don't take the cash and put it back into research i think it is despicable. i think you should not be in the drug business. we take all of our cash, all of our extra profit and spending on research for these patients for other patients with terrible life threatening, like ending
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diseases. did you say that? >> on the advice of counsel i invoke my fifth amendment privilege against of recrimination and respectfully decline to answer your question. >> these think you have done anything wrong? >> on the advice of counsel i invoke my fifth amendment privilege against self-incrimination and respectfully decline to answer your question. >> i would like to yield time to congressman downey of south carolina. >> is it pronounced shkreli? >> yes, sir. >> you can answer some questions. that it and incriminate you. i just want to make sure you understand you are welcome to answer questions and not all of your answers will subject you to incrimination. you understand that? >> i intend to follow the advice of my counsel, not yours. >> i want to make sure you're getting the right advice. you do know that not every
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disclosure can be subject to the fifth amendment assertion, only those that you reasonably believe could be used in a criminal prosecution or could lead to other evidence. >> i intend to use the advice of my counsel, not yours. >> do you also understand that you can wave your fifth amendment right, you gave an interview to a television station in new york where if i understood correctly you couldn't wait to educate members of congress on drug pricing and this would be a great opportunity to do it. do you understand you can wait your fifth amendment rights? >> on the advice of counsel i invoke my fifth amendment privilege against self-incrimination and respectfully decline to answer your question. >> i am vexed. he has been willing to enter released one question this morning. that one didn't subjected to incrimination.
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i don't think he is indictment for the subject matter of this hearing so the fifth amendment actually doesn't apply to answers that are not reasonably calculated to expose you to incrimination and even if it did apply he is welcome to wave it. i will listen to his interview, he didn't have to be prodded to talk during that interview, doesn't have to be prodded to tweet a whole lot or show us his life on that little wet can he has got so this is great opportunity if you want to educate members of congress about drug pricing or what you call the fictitious case against you or we could even talk about the purchase of butane plan, is that the name of the group? >> on the accounts of council i in the collective amendment privilege against self-incrimination and respectfully decline to enter your question.
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>> i am stunned that a conversation about an album he purchased could possibly subject him to incrimination. >> the gentleman is correct. i understand mr. shkreli is under indictment but it is not the intention to ask questions about that topics go -- >> if i understand correctly we are not going to ask him questions that are going to be the subject matter of his current pending criminal charges, and if we were to get close to one or in a gray area he is welcome to assert his fifth amendment privilege there and if we stay away from the subject matter of his indictment he is, some card you has a legal obligation to answer under caster's united states, has the right to do so as he did in the television interview and as he does quite frequently on social media. >> correct. >> they are recognized for a
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moment? >> you will not. you are not allowed. under house rules you have not been sworn in. you are not recognized and you will be seated. the gentleman from south carolina is correct, we are trying to provide an opportunity to have a candid discussion about issues related to drug pricing. we recognize mr. cummings for any questions. >> mr. chairman, let me say for the record i completely support your decision to bring mr. shkreli to make sure he asserted his fifth amendment right before this committee. normally democrats on our committee accept it, the assertions of a witness's attorney that his or her client is going to take the fifth, but in this case, mr. shkreli made a number of public comments
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himself, raising legitimate questions about his intentions. honestly i did not know whether he was even going to show up today so it is nice to see you. but now that he has invoked his constitutional rights i will respect his decision. to mr. shkreli since i have you in front of me, after trying to get you in front of this committee for so long let me say this. i want to ask you -- i want to plead with you to use any remaining influence you may have over your former company to press them to lower the price of these drugs. you can look away if you like, but i wish you could see the faces of people, no matter what anyone says, who cannot get the
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drugs they need. and by the way, taxpayers, somebody is paying, taxpayers that end up paying for something and those are our constituents. people's lives are at stake because of the price increases you imposed and the access problems that have been created. you are in a unique position, you really are. rightly or wrongly, you have been viewed as a so-called bad boy of pharma. you have a spotlight, you have a platform. you could use that attention to come clean, and to write your wrongs and to become one of the most effective patient advocates in the country and one that could make a big difference to some many people's lives. i know you are smiling but i am
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very serious. the way i see it you could go down in history as the poster boy for greedy drug company executives or you can change the system. yes, you. your detailed knowledge about drug companies, the system we have today and i truly believe, i truly believe -- are you listening? >> yes. >> thank you. i truly believe you could become a force of tremendous good. of course you can't ignore this if you like, all i ask is that you reflect on it. i don't ask, mr. shkreli, i beg that you reflect on it. so many people that could use your help and god bless you,
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thank you. >> mr. shkreli, it is your intention to decline all answers to the questions that invoke your fifth amendment rights. >> yes. >> given that the witness indicated he does not intend to answer any questions and out of respect to his constitutional rights i ask that the committee excuse the witness from the table. without objection so ordered. we will pause for a moment as mr. shkreli is escorted out. stuart: what you have just seen is high political theater indeed. martin shkreli, the bad guy capitalists in the pharmaceutical industry refusing to answer questions and his facial expressions as those questions were being asked implied in my mind contempt for the proceedings, he was smirking, laughing, he was not taking it seriously. liz: he great -- give great a video tape for hillary clinton or bernie sanders to use in
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their campaign. stuart: when there's a legal, constitutional aspect of this and judge andrew napolitano is with it. you were sitting right next to me as we were watching these proceedings a you were jumping up and down. judge napolitano: it is highly improper for members of the committee to try to persuade him to give up his constitutional liberties. they took an oath to uphold the constitution, part of the same government that is prosecuting him for an unrelated crime but nonetheless prosecuting him. they know, their lawyers, that he should not be saying a single word while he is under indictment and they are not serious about getting information from him. weber serious about getting information from him as they can immunize him from prosecution, he would have no fifth amendment rights. because they are not serious they're not immunizing them. stuart: because the answers one question he has to answer them all. judge napolitano: other than a strictly ministerial question like this is my name or a won't answer any questions.
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if the answer anything substantively he could be like lois lerner could be deemed to have avoided fifth amendment rights. bernard: when he lost a cummings said are you listening and he said yes. judge napolitano: that is not a substantive answer, that as an administrative cancer. stuart: this is high politics. judge napolitano: it is legally nonsense. the offensive but high political drama. as you pointed out particularly now with bernie sanders and hillary clinton, who is more progressive battle going on. stuart: i disagree with you, trey gowdy and jason chase fits should not be answering questions like that, should not be badgering the witness, they are politicians. this is a political setting. what is wrong with asking sharp edge questions and going after a guy who is -- she is testifying that won't testified. what is wrong with doing that? judge napolitano: what do they gain? stuart: what is wrong with it?
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judge napolitano: is wrong for the government to chill you from exercising constitutional liberties. stuart: bent is about to speak. >> i will make a brief statement on behalf of mr. shkreli. shkreli will not answer any questions. i may answer one or two questions depending on the question. i am feet--mr. shkreli's attorney. to my left is my father. let me first say this was a frustrating morning for us because i think mr. shkreli would like nothing more than to enter the committee's questions and i think he would have very good answers. he has agreed because of the pending indictment in the district of new york to follow my advice and not answer any questions and invoke the fifth amendment privilege and i think that was the appropriate advice under the circumstances.
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the gentleman on the committee who discussed the fifth amendment with all due respect had no idea what he was talking about given the law as i understand it to be. mr. shkreli has the right to invoke his fifth amendment and to be ridiculed for it is just unfair and inappropriate. i would also tell you that mr. shkreli did not intend to show any disrespect for any members of the committee, listen intently. some of what you saw was nervous energy by an individual who would very much like to explain what happened but has agreed to listen to his lawyer who has been around this block several hundred times over the last 40 years. it is a frustrating morning because many of the things that were said in this hearing simply just not accurate and i think we will address the substance in
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her testimony later this morning. but not for the pending indictment in federal court, mr. shkreli would himself address these issues. a lot of the statements attributed to him and noted by the committee were made before he >> reporter: to counsel. priority is to resolve favorably the criminal case in the district and at the same time through people including mr. shkreli will be addressing these issues but not in this hostile forum. i appreciate mr. cummings's remarks, he is right, mr. shkreli is a brilliant scientist whose devotion to saving lives is extraordinary in my judgment and at the age of 32 he has already developed several drugs and use in the process of developing several more that will save the lives of people who suffer from illnesses that
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most of the major pharmaceutical companies have recently ignored. we told them he was going to invoke, they insisted that he come down anyway. out of respect for the committee we came and now we are about to leave. if you have one or two questions that are appropriate i will try to respond but i really don't want 500 questions shouted at me at the same time. >> the government going after your client, pharmaceutical companies are raising their drug prices by sometimes 1,000%. >> is unfair and that turning has been singled out for the unfair publicity they received and when all the facts are out and they are ultimately disclose i think everyone will recognize that mr. shkreli is not a villain, not the bad boy. at an end of this story he is the hero. >> any regrets about having raised the price that high given the publicity it has generated? >> the only regret he has is the
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unfair treatment he has received and some of the things he may have said in response that were not well thought out but he is 32 years old, he is not a lawyer, he is a scientist and he was angry at times at some of the things he said may have sounded bad and they have fuelled this inquiry but on balance at the end of the story mr. shkreli will be in my view cleared of the criminal charges that have nothing to do with their grim and you will see that he has saved many lives by his brilliance. there is nobody who cannot afford the drug to our knowledge who has not received the drug, thank you very much. stuart: that is martin shkreli's lawyer just ticketing now. they left the hearing, they held a brief question and answer session, the lawyer did at least
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and now they are off-camera and away they go. one thing i picked up on, he said my client, shkreli, just nervous energy. mr. shkreli was smirking, laughing, turning aside, rolling his eyes and his lawyer says that was nervous energy. that won't do. judge napolitano: is almost irrelevant. he is not on trial before this committee, he is not running for public office. who cares what these two bit political hacks have to ask him at a criminal proceedings? stuart: he is in trial in the court of public opinion. judge napolitano: doesn't care about public opinion. what it is reckless behavior before this. stuart: he could be convicted in the court of public opinion. judge napolitano: if convicted in the court of public appearing, can't get a hearing in the district of brooklyn and they have to throw out the prosecution did when he has already been convicted. that is separate, that is all
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about him allegedly looting his hedge fund. this is raising the price of the drug. judge napolitano: this guy doesn't care what public opinion thinks of him. he doesn't care what these political hacks think of him particularly the political hacks who are lawyers and don't understand the fifth amendment, he doesn't care about that. that is his privilege. stuart: trey gowdy and elijah cummings you make label political hacks that their politicians asking valid questions of a person who appeared before the. judge napolitano: badgering by trying to talk him out of asserting his fifth amendment privilege i have never ever seen. even mobsters and thugs and killers that assert the fifth amendment privilege are permitted to do so without being badgered. judge napolitano: stuart: when you think and his lawyer won? judge napolitano: not politically.
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he looks like a spoiled jerk but he doesn't care that he looks that way. this is not the jury that will decide whether he stays free or goes to jail. stuart: what is on trial in that hearing was capitalism itself. his brand of capitalism. judge napolitano: absolutely. stuart: he used the expression greedy pharmaceutical company, greedy executives. capitalism is on trial. judge napolitano: yes it is. stuart: a rotten character of the poster boy for capitalism. judge napolitano: i agree with you. some of us believe in capitalism selfishness is a virtue. stuart: don't drag me into that. judge napolitano: ayn rand birthday was this week. stuart: are we done with this? because mr. shkreli has disappeared. i am sure the hearing continues. ashley: to your point, really wanted to make the point my client may not look very good but had nervous energy and would
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love to say something, trying to explain away the smirking, a rolling, apparent indifference, very aware of what public opinion will be of that. stuart: he has a difficult client, would you agree? judge napolitano: yes, he does have a difficult client. you always have a difficult client when you are not the first lawyer. there's a reason the first lawyer left and the reason the first lawyer left is because shkreli on his own -- you don't go on television and explain yourself when you are under indictment. the feds are taking down every word, every smirked, every nuance and will use it against you at the time of trial. stuart: maria bartiroma interviewed on this network fox business network interviewed mr. shkreli just a couple days -- judge napolitano: her face and image and words may well play and his criminal trial. liz: he said he was going to be -- the rate congress.
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when he said we have $1 billion of of this drug, when those e-mails came out and commerce talked about it he moved to plead the fifth. he faces 20 years in prison. his company did enjoy federal tax benefits from drug research. stuart: let's listen to the badgering you were talking about. here is a sound bite from jason chaffe chaffetz. >> what do you say to that sickly old pregnant woman who might have aids, no income, she needs darprim in order to survive. would you say to her when she has to make that choice? >> on the advice of counsel might invoke my fifth amendment privilege against self-incrimination and respectfully decline to answer your the collective amendment
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privilege against high in the collective amendment privilege and respectfully decline to
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answer your question. stuart: back to that question where he is saying what do you think about the poor lady who is suffering in this and this and she can't get it to save her life and your guy -- judge napolitano: with the mean my guy? i am on the side of his constitutional liberties, nothing about his personal behavior rather than what i see in this political facade. stuart: in response he rolls his eyes, smirks. ashley: peacemaking apolitical statement. it is the unveiled question. what were you going to say to the woman who may die if she can't afford -- is a loaded question. judge napolitano: if he rolled his eyes and smirked in a jury where he is a criminal defendant there might be a profound response but in front of these two bit political hacks who don't know what about the fifth amendment who cares if he rolls his eyes and smirks? stuart: joining us now is camera
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holder, an arch leftist who happens to be an attorney at the same time. you have been listening to what the judge has been saying, dismissing the elijah cummings as a political hack and is asking questions of this guy who is rolling his eyes which may we have your opinion? >> i love and respect my colleague, wonderful judge but i cannot disagree with him more on this. because these congressman are people who have been doing this for years. he may not respect or like what they do but this isn't their first hearing and to call from hacks they are investigating things like the flint meltdown if you will. all of these in justices that do occur in america and i would like to say is that mr. shkreli or however you say his name didn't get beaten up in high school. that is what happened.
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he has no respect for authority. i don't care if you don't like eli joy cummings or jason shaffer threw are both on opposite ends of the political spectrum, you should have a certain level of respect and this is a legal proceedings because that is why we had to initiate fifth amendment rights because he can be charged for lying and the other thing is the jury, the potential jury pool is going to see things like this and he is an idiot to roll his eyes because everybody who could be in that jury pool. stuart: to answer the questions. would he be an idiot to answer the questions? >> absolutely. stuart: he should have stayed quiet. >> i agree with that, i am not saying he should have spoken but that behavior i don't care if you like it elijah cummings or whoever else, look at them like they are tax is the stupidest thing, i would be my client, it is absolutely disgusting the way he behaved. stuart: respond if you wish. judge napolitano: i have nothing to say. this guy couldn't care less
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about the proceedings. i couldn't care less about the proceeding. is not even a proper subject for inquiry by congress, has nothing to do with the constitution, it is political hacks trying to get on the evening news. stuart: surely congress has every right to investigate perceived wrongs. judge napolitano: absolutely not. who is congress to tell this hedge fund guy how to spend money is investors have given him. >> taxpayer money. stuart: should the congress be allowed to investigate the flint michigan s? judge napolitano: data >> people are hurt, people are harmed. what is going on here? judge napolitano: the constitution was not written in order to right every wrong. that is the supreme court. and stuart: what is wrong with that? judge napolitano: it is nr fede. when congress asked roger clemens the contents of his urine and he apparently did not
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speak truthfully about it, he got prosecuted over it and ultimately acquitted $10 million later. what business is it of the congress to pass that? these guys think they can ask anybody anything they want under oath and they can and should not be able to and when they misrepresent the law -- asking a question -- stuart: calm down, listen to the judge. judge napolitano: when they try to badger someone into giving up his liberties they are violating the oath and they took to uphold the constitution. stuart: i am with camera on this, i have the right to ask any question they register as mr. shkreli has the right to plead the fifth and not respond. >> if you let me complete a thought there are two separate
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issues here. one is they have the right and authority and jog and duty to investigate and the authority to ask a question, two separate issues and i would respectfully disagree with you, i believe they have the authority and right on behalf of the american people to investigate this type of potential wrong. stuart: where are we now with his little diatribe. judge napolitano: we for him to smirk again so we can make much ado about nothing again. stuart: we have tape of the smirk, roll it please, let's see it again, look at that. is not much of a smirk but it is a slight one. we are watching the smirk, what do you say? liz: ramifications beyond what happened with shkreli, we have 50 congressman sending a letter to the national institutes of health saying you need once and for all to knock drugs off patent and make drugs cheaper given what is going on with drug
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price gouging overall in the market. this is casting a shadow over the entire drug industry what is going on with shkreli as hillary clinton and bernie sanders will bring up. stuart: the pricing of drugs is a political issue. >> the biotech sector has been dragging down the nasdaq, one of the biggest drags this year. ashley: taxpayer money is used, taxpayers have the right -- stuart: the drug went straight -- ashley: $750 a pill. bernard: when we pick up some of the bill, we are paying that rapid increase. judge napolitano: because of medicare and other socialist programs. stuart: taxpayers are paying the bill. i you reversing yourself? is it now legitimate question
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from congress? judge napolitano: is not a legitimate question to badger someone out of asserting their fifth amendment privilege when they aren't indictment. stuart: is it legitimate question to ask that question? judge napolitano: the ripple in writing ahead of time he is not going to answer. can't answer. you wouldn't enter a few had been indicted. you would have asserted your fifth amendment privilege, you would have been offended if some congressman tried to talk you out of it. stuart: sooner or later we have to take a break so we can make some money and profit on this program. before we do that i think you should have the last word. >> i am going to rest because i believe congress has a right to investigate. stuart: i think liz made one of the best points that is bernie sanders and hillary clinton are going to be all over it this hearing the >> and use it. stuart: is going to appear in campaign ads for the left because he is the poster boy for wrong capitalists, smirking and.
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i can see that coming right up. judge napolitano: i wonder if mrs. clinton gets indicted she asserts turf of the amendment privilege. stuart: we are killing of the break, this is dramatic stuff. i am going to break away briefly. as all this was going down over the last half hour the dow jones industrial average has turned to the upside, the price of oil has gone up another $0.80, 3307. that is what we have on the markets. questions that were asked and the video tape coming out of it which will be used in political
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commercials was reading this morning. liz: what was reading was representatives said to shkreli's lawyer you cannot interject, you cannot speak because you have not been sworn in. that was right out of a movie. ashley: the moment with trey gowdy, badgering shkreli, i will take the advice of my counsel, not yours. "cavuto coast to coast" when he said that. judge napolitano: members of congress take an oath to tell the truth. that is the day i long to see. liz: issues congress is dealing with our drug prices going up and the first question out of the box was related to a woman, if she theoretically had aids and needed is very expensive drug which he raised the price overnight and it comes in the context of pfizer moving duet deal to lower their corporate tax bill. that is the scope of the political backdrop to this
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hearing. stuart: they appeared in public, made a statement on two issues, he took issue with trey gowdy and the other members of the panel saying they had no idea what they were talking about and dismissed the smirking of his client as nervous energy. let's hear from him. >> the gentleman on the committee who discussed the fifth amendment, with all due respect had no idea what he was talking about. given the state of the law as i understand it to be. mr. shkreli has the perfect right to invoke his fifth amendment and to be ridiculed for it is unfair and inappropriate. i will also tell you that mr. shkreli did not mean to show any disrespect for any members of
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the committee, listened intently, some of what you saw was nervous energy. stuart: first off, you agree they don't know what they are talking about. why don't they know what they are talking about? judge napolitano: a lot of opinions on this, some opinions say if you say anything, even acknowledging the whar you have waived it, and others say you must say something substantive in order to waive its so the jurisprudence, this a fair thing to do when you are executing a client before any type of here with the client is to instruct the client to remain absolutely silent another event to take the oath so there isn't even a hint of the potential for a waiver. >> i would say that he should have at least spoken to one of the members of congress in advance and said can we just get
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this housekeeping matter under control in advance of this. answering that your name is shkreli is not a violation of your fifth amendment right and when you are opening a hearing, acknowledging that is not a waiver. and to briefly say something as a procedural issue it would have been interesting if mr. shkreli had said you don't say anything in the very beginning and then waived his right so he could have sat there and listened to what was going on because -- stuart: not leave but stayed there. >> or wait until the first question and then waive his rights because they excused immediately. maybe that could have been a possibility. judge napolitano: a letter earlier this week said mike klein will invoke his fifth amendment right and they brought him down anyway for this political theater. stuart: let me sum it up.
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judge napolitano: the queen has nothing to do with it. stuart: i remember this very well. martin shkreli i thought made a pretty poor poster boy for capitalism. i think his performance in a political sense was dreadful. he has got a ron reputation because he did indeed raise the price of the drug that he acquired for his company by many thousands of 1% depriving many people from that life-saving drug. he appears before congress a hated man to start with, not legally but purely politically. this is a terrible thing. i am a capitalist. i want to see free markets and competition rules and win and when we are presented with a poster boy like this young man smirking in the face of congress i think capitalism loses lee janzen make sure you are the only graduate of the london school of economics hooper
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cleanse himself a capitalist. stuart: of all people, camera holders with me on this. >> i am -- judge napolitano: ardent leftist. stuart: i think i am right and you agree with me. >> i love how you make of these names for me, totally pummeled on social media because now people think whatever comes out of your mouth is flowers and fruits. stuart: it is. i thank everybody for a terrific performance and thank you very much. judge napolitano: are you thanking mr. shkreli for this performance? stuart: i am not the big board 100 points higher. what you saw from shkreli and the panelists in congress nothing to do with the markets at all. we are up 100 points. let's pay some bills, commercials, let them roll.
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.. gay
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stuart: enough of the shkrelis of this world. a nice gain, 98 points higher as we speak, check out all 30 of the dow stocks, most of the green, 12345, eight of the markdown, not too bad. >> number of things, factory orders fell, first-time jobless benefits higher than expected. all of this contributing to the fact the we don't think the fed will raise rates. what does that do? gives the stock market a boost and weakens the dollar which gives the oil market a boost because it makes oil cheaper for people to buy. market's rise. stuart: i love the way he talks, dow jones industrial average, the price of oil is up 70 odd sense, $33 a barrel.
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liz: bond futures, and raise rates, and maybe won and done. stuart: no buzzer, how about go pro. here's a company that lost money, give the a disappointing forecast and an all-time low for the stock, 948. the story here, one trick pony or somebody's going to buy at. liz: a one trick pony and will somebody by it? this stock is down 90% since its ipo two years ago. at the time of its value more than u.s. steel or cablevision so the question is who could buy it, could it be facebook? could it be apple? the ceo doubling down on the earnings call saying we are still going full speed ahead or will this force him to put the
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company offers a. stuart: i am not sure apple for example -- cameras on these iphones are fantastic. why do you want a go pro? liz: it was a beast, another device. stuart: at the moment people are not buying it as the buyout opportunity because it went -- liz: i hate to say the share price collapsed. stuart: we almost put it on deathwatch. when we put stuff on deathwatch it goes up. one more. conoco phillips losing money, cutting the dividend, that is not good news. when they cut the dividend not good news. el which is maintaining its dividend is paid a% at the moment. liz: chevron and exxon with their worst picture in ten years.
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the world of her continues. stuart: with oil at $30 a barrel i am not surprised. big board shows it up more than a hundred, more varney after this. in new york state, we believe tomorrow starts today. all across the state the economy is growing, with creative new business incentives, and the lowest taxes in decades, attracting the talent and companies of tomorrow. like in the hudson valley, with world class biotech. and on long island, where great universities are creating next generation technologies. let us help grow your company's tomorrow, today at
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>> what you say to this single pregnant women who might have aids, no income and she needs in order to survive. what do you say to her when she has to make that choice? what do you say to her? >> privilege against self-incrimination i respectfully decline to answer your question. is it pronounced shkreli? >> yes, sir. >> you can answer some questions. that didn't incriminate you. i want to make sure you are getting the right of eyes. you do know not every disclosure
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can be subject to the fifth amendment assertion. only those that you reasonably believe could be used in a criminal prosecution or could lead to other evidence. >> i intend to use the advice of my counsel, not yours. >> you understand you can wave your fifth amendment right? >> on advice of counsel, and the fifth amendment privilege against self-incrimination and respectfully decline to answer your question. stuart: what you're cherishing is martin shkreli, the bad guy pharmaceutical raise the price of a life-saving drug. he appeared before congress this morning on the sharply questioned. he refused to answer questions, pleading the fifth. a month after he left the hearing room, martin shkreli was on the tweet the system again. what did he say? >> he said it is hard to accept this in the cells represent people in our government. he is also re-tweaking people things like they made shkreli
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look silly and they wish the lawyers would let martin shkreli speak. stuart: he himself someone that word. that is absolutely contempt. he is contemptuous of those. liz: is facing 20 years in prison. stuart: moving on. look at the board. we are 80 points higher because the price of oil has gone up a little bit. up a bit more this morning. 33 bucks a barrel. individual stocks are moving. how about grub hub. higher sales, double-digit percentage gain. 14% up on grub hub at 21. metlife profits way down. it is tough economic environment in the rest of the world. low interest rates not helping and metlife is down 4%.
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let's get to the election, shall we? politics are the bread-and-butter of this program. donald trump calling out ted cruz for what he says their dirty tricks. ted cruz wasted no time responding. >> it is no surprise that donald is throwing yet another temper tantrum. it seems his reaction to everything is to throw a fit, to engage in insults. i understand that donald find it very hard to lose. he finds that very difficult. the islet people spoke. stuart: as they head towards new hampshire, there is a monumental fight between donald trump and ted cruz. welcome to the program. that site actually lets marco rubio to go right up the middle. it is tailor-made for him to rock weight in. >> per usual, you are correct.
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for going into iowa, this is like a this is liking him is like a two-man race for many people appeared the question was who is going to arrive and be the third competitor as we move forward. i think you really positioned marco rubio to get a second glance by people that were so much considering him before. certainly he's looking pretty good. he finished really close to trump in iowa as well. a close third to the second place finish. he's looking very good right now. stuart: he has momentum at this moment. >> sure. we've been talking to the trump alternative would be. put up your a governor? looks like possibly marco rubio. stuart: what to make of jeb bush as a meeting in new hampshire? he asked the audience to clap. he appealed for applause. that was all over social media all night long. i don't think that looks good for jeb.
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>> unfortunately, he is quite desperate. he paid close to $3000 per vote in iowa. it is unfortunate that a candidate for so much money and for so long all of us political strategists think the candidate that is well-funded will thrive at some point. it just doesn't seem to be connecting despite his name recognition for good or bad and all of the millions and millions of dollars he's gotten his arsenal. stuart: the other side of the coin if hillary clinton. is she a flawed candidate? she didn't do well at a town hall meeting last night. >> that is not a good format for her. tom hall are about connecting a resonating and vision and messaging. those are not her strong suits. she paled in comparison at that event. she is looking to get clobbered in new hampshire and she is owing to pick this up when she gets to south carolina. stuart: she was responding to a question about why she did so much money from wall street. she says when i left the job as
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secretary of state, i wasn't quite sure what i was going to run for president or not. that is why it took the money. she wasn't quite sure. a couple years ago she wasn't sure that she was running? come on. >> it is still such an almost tacit admission of your motivation for not taking wall street money. now you are condemning it in such a strong way. only if you run for the highest office in the land you have an issue with it. i don't know what that says about an integrity issue for me. stuart: listen to this. this is a poll. it is from the university of massachusetts amherst. bernie sanders held a huge lead over hillary and new hampshire. 58-36. i don't know whether that is an expansion of the sleep. it is certainly a whopping lead. no doubt he is getting hot because he's from neighboring vermont. >> years, but it's not like hillary clinton has won new hampshire before. she kind of came back and one
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bathroom barack obama. i don't know that i buy that excuse. i think she should be formidable there. stuart: is that the e-mail problem? this poll was taken over the last three days. right before then over the weekend, it broke that there was really serious, secret information on her private side, blues thing helping. stuart: in the legal community, the evidence is almost insurmountable. but there she goes to the indictment remains to be seen. serious credibility issues i agree with you. and now bernie sanders for a long time as hands off deck. he is going there now. stuart: he senses he could win the nomination. >> he could absolutely win the nomination. here comes joe biden. i am telling you. >> i was sad when he said he is it going to run. stuart: it ain't over until it's over. happy birthday, facebook.
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mark centerburg started facebook 12 years ago today. in his dorm room. this calendar year 2016 the stock has gone up 7%. that it not, is there? jo ling kent, facebook. here's a question. the technology stock of the year. >> it could be thought of as not because you have seen sirius growth in users and that is where the string bass. 1.6 billion users. you know what mark zuckerberg essay is awfully ambitious. he wants 5 billion users by 2030. and so, he wants to expand in emerging markets, countries where the ricin that much internet access. he wants to go from 1.6 to 5 billion users. it's very ambitious. plus you have to move into virtual reality with off oculus. a huge dabbling a huge dabbling of investment minister graham. i can go on a long time. there's a lot of confidence from analysts and facebook. we'll have to see what the rest
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of the year holds. stuart: the rest of the calendar year. >> i remember the first day i got on facebook. stuart: 2004. >> i will say was quite a distraction from final exams. and now look how many people it is distracting. stuart: dr bartend is with us. i want your opinion on facebook as the technology stock of the year, a winner this year. go. >> stuart, i love facebook. back in august we talked about those big stocks that we always cover and you said to pick one and i picked facebook then. you nodded your head knowingly when i was in the judeo and i still love it today. i think growing users is great, but here is the number that is really key. they are growing revenue per user's. 50% year-over-year in the u.s. that is their ace in the hole. when they take the same
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technology to asia and europe and pro-user numbers. >> can they get the gain in revenue money coming in per user overseas? >> i believe they can. they really concentrated to use them analytics to really concentrate on how to do this in the u.s. right now u.s. revenue per users is eight times higher than revenue per user in asia. when they turn their attention and start working on how to get the local culture, local issues involved in the advertising scheme, they will deal to do it. maybe not up to u.s. levels, but they will be able to multiply. stuart: those numbers are something else. i know you brought on stock picks that you particularly like. number one is lockheed martin. make that case. >> lockheed martin has been strong relative.
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you and i talked about by market take care. i don't see it as a quick rebound in the first quarter. we are going to continue to bounce back and forth instead of over levels. you want some names. lockheed martin is doing great on the contracts i and they have an ace up their sleeve, too. their cybersecurity consulting group is growing and is one of the strongest in the world and that going to help them get money out by the defense sector bringing that into the company. it also throws out reply of 1% dividends. stuart: 20 seconds left. i know you do not like delta airlines. make that case. >> yeah, they have been struggling. one number, stuart. their revenue per passenger seat mile has been dropping more so than other airlines. stay away from that one. stuart: d.r. barton, we hear you. thank you for being with us today. the economy, jobs and issues for americans in the election. i'll hold up more on that with
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dan hemminger in a moment. times and bad. for over 75 years, our clients have relied on us to bring our best thinking to their investments so in a variety of market conditions... you can feel confident... our experience. call a t. rowe price retirement specialist or your advisor see how we can help make the most of your retirement savings. t. rowe price. invest with confidence.
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>> i am nicole petallides. the economic news here for oil has turned positive and move stocks into positive territory as well. right now, dow stocks are up 117-point. that is the tune of three quarters of a percent. s&p up 11, nasdaq 26.
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oil is up almost a buck on the top. once again, the son of the nations, opec and non-opec. also the story here is that the dollar has been weaker. alcoa with some big moves here. the background up 19%. alcoa up 12%. big moves. ralph lauren on the other hand on the downside. the company is going some comprehensive strategic reviews. that is a winner today. your day at 5:00 a.m. on fbn.
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stuart: this is the worst performer in the s&p 500. polo ralph lauren cells down it. the stock is down 17%. that is a $20 plus per ralph foran. the biggest loser of the s&p 500. let's get to the election. dan hemminger is here. his piece this week is titled the economy trumps everything. all right. i've got to take issue here. you say that the economy and economic performance should he let people vote on this year. but it's not. >> it is. we've had won election in iowa, the iowa caucuses and the
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entrance polls of people going into the caucus make it crystal clear that the economy is the uppermost thing on their minds. donald trump has been running on the issue of immigration. build the wall. he got 44% of the vote and the people in iowa who think immigration is the biggest issue. the percentage of people who thought that was 13%. that is it. stuart: if the economy -- the economy is not doing well. >> nor is the stock market. stuart: of people vote on the economy and their view of the economy, they don't automatically vote republican or conservative. they don't do that. >> if you aggregate the issues on iowa democrats minds which was jobs in the economy, income inequality which i call an economic issue and health card adds that to 90% of their concerns. the economy and economic issues is the only thing democratic voters about these days and the
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one candidate who talks about those subjects is bernie sanders, the unlikely socialist from vermont. stuart: as the economy slides, and it is fighting, growth is virtually zero at the moment. does that favor the democrats because they say i will give you free stuff? you're worried about the economy, here's some free stuff. do you think he favors democrats? in a down economy after seven years of a leftist president connie think it still favors democrats? >> to republican candidates will have to do a very direct job of talking about what bernie sanders is proposing to people because you can't say i don't believe any of this is ridiculous. you have to give a direct answer to a sanders is proposing. he is saying we need a health hh care system something like francis. what bernie is proposing is a health care system like canada pushes the road and collapsing. the republican candidates have
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to go into that thing. stuart: hearties outgrowths? reagan did it very well. i don't know how the latest batch of republicans will do that. >> john kasich has done a good job talking about people's personal concerns, how it affects you and interestingly in iowa, marco rubio got 30% of the vote of people who thought the economy and jobs were the most important issue which was about 27%. rubio seems to be connecting to people on that subject of growth and economy and the jobs. i understand -- i wish economists would come up with a different phrase as it is hard for people to connect to. obviously there is really excited out there republicans have to find a way to articulate a per bernie sanders, hillary will grab the issue. >> you raised your eyebrows when he said hillary. you don't think she's the candidate? >> you know, i watched at town
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hall yesterday i'm beginning to conclude that hillary is not so much including a disintegrating. both psychologically she's not performing very well. i think that e-mail thing is a very serious subject for her. the political piece of it, bernie sanders is doing a better job of presenting himself to people than she is. that question from that woman who had five daughters 20 or so too can support hillary she had no real good answer for that. stuart: bernie sanders, socialist. >> unbelievable. stuart: mike bloomberg considering a third-party run for the presidency. top of the next hour we talked to the pollsters that he could win. next, one of payton and his former teammates on whether manning is going to ride off into the sun as a champion. there is a story for you. more proactive selling. what do you think michal? i agree.
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let's get out there. let's meet these people. this just got interesting. why pause to take a pill? or stop to find a bathroom? cialis for daily use is approved to treat both erectile dysfunction and the urinary symptoms of bph, like needing to go frequently, day or night. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex do not take cialis if you take nitrates for chest pain, or adempas for pulmonary hypertension, as it may cause an unsafe drop in blood pressure. do not drink alcohol in excess. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, get medical help right away for an erection lasting more than four hours. if you have any sudden decrease or loss in hearing or vision, or any symptoms of an allergic reaction, stop taking cialis and get medical help right away. ask your doctor about cialis and a $200 savings card stop taking cialis and get medical help right away. thanks. ♪ [ male announcer ] fedex® has solutions to enable global commerce that can help your company grow steadily and quickly. great job. (mandarin) ♪
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ashley: pampers the broncos face off in super bowl 50 this week. the last game, peyton manning, nfl linebacker darryl nfl linebacker darrel reid is with us. great to have you here. you won the super bowl. back in 2007 you beat the bears in miami. candy miami. candy as we said recently ride
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off into the sunset? would this be the best finish? >> it would definitely be the best finish for him, especially with how the defense is playing right now, how the game is going and how he performed last game. he looks really good. he looks ready to take them off into the sunset. ashley: you know him. is he is nice of the guys he comes off? >> is a great guy. he is a storyteller. that's what i say about payton. if you're in an intimate setting he will be telling stories and be the life of the party and he's got a lot of stories to tell. ashley: he's got a go up against a good quarterback cam newton. >> cam newton is a very good quarterback, very much enough other quarterback, much more athletic than payton has ever been. he has a stronger arm at this point. but they are very contrasting styles. their styles are very different. it will be a very good game. ashley: the big question is who
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wins? to the super bowl and the occasion wipe out the underdog, all those different back as they go into it? is it the experience over the surging panthers? >> one thing nobody's talking about is this game is about defense. that is why both teams that because of their
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.... >> like many americans, they struggle speed to you conceive
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they are. former pharma chief. raising the drug. he refused to any questions. >> a woman who may have aids. no income. she would need it in order to survive. what do you say to her when she has to make that choice? >> i respectfully decline to answer your question. >> mr. shkreli. >> yes, sir. >> you can answer some questions. that one did not incriminate you.
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they can be believed to be used in prosecution and other evidence. >> i intend to use the advice of my counsel, not yours. i invoke my fifth amendment privilege and respectfully decline not to answer your question. stuart: what you did not see is mr. shkreli rolling his eyes. he started out with a flurry of tweets. ashley: these imbeciles representing the people in our government. he probably rolled his eyes as he said that out. he also retreated a bunch of earlier tweets. you know, are those actually from him?
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we contacted his attorney who said, well, yeah, that tweet was authentic. it is very frustrating for him to listen to what he believed. that is the company that he ran. he meant no disrespect. statements made were wrong and unfair and difficult to listen to without responding. >> the lawyer is saying please do not call congress and the soul. it really is not a good idea even though you did it. i know what you are thinking. why did he walk out of the hearing room and probably insults his questioners like that? that is not a good idea. >> agreed agreed agreed agreed. it was not stated under oath.
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it was not given in a public forum. it is totally irrelevant. you do not taunt the alligator until afterward you toss the screen. no good purpose is served by a person who is under indictment. >> capitalism. at that hearing this morning. the right of a private company. that was on trial. if mauer in shkreli, we have lost and down. >> that is why i was so critical. the republican congress bringing in their. these so-called republicans are supposed to be champions of capitalism. why do they bring him down there? knowing that he is erratic.
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he did awful things. jacking up the prices of the drugs. why did they do that? >> i am going to chime in here. forget any party. won't his state be decided by a criminal court? >> they could care less what congress thinks of them. >> congress has all of these hearings and they get nothing accomplished. >> that is political theater. taxpayer money is going to people like shkreli to pay these astronomical prices for the drugs that he owns. >> they know that that will be his response. they get nothing accomplished. >> they are sending our taxpayer money to have this.
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stuart: photo up. getting on the evening news. showing their constituents. >> do you want the congress to find out the true reason that those prices went up? >> if you do want them to do that, all they have to do is give him immunity. that is why they are not serious about answering the questions. >> he is so unpopular. you cannot do it. i we done? >> we're just getting started. you are multifaceted. [laughter] stuart: why don't we take a look at the big board.
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a gain close to 100 points. the price of oil up again. it was up yesterday. gretchen. >> the inside joke. when i come on your show. the market goes up. stuart: this is the carlson effect. the price of oil is up. conoco phillips. losing money. cutting its dividend. that is why that oil company is down 4%. now look at shell. it says it is standing by its dividend. that is why that stock is up. cheap oil underlies everything, but so does the dividend payment. donald trump. ted cruz.
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the public feud could be paving the way. the most recent poll shows trump with a big lead. thirty-three compared to cruz in 11 in new hampshire. rubio at 10. threadbare is with us. i just offered an opinion. having an opinion on my opinion. marco rubio marching right through the center here. what do you say? >> he has some hurdles in the way. in the name of chris christie. they are trying to take him out of that of being the establishment candidate. being the person to go up against donald trump and ted cruz. kristi is probably the person swinging the hardest right now. spending $30 million.
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it is under the name of bush. he has been hitting rubio. they see the attraction that rubio has. this whole message of unifying the party. stuart: do you think that new hampshire higher is do or die? >> i definitely think that they have to do well in new hampshire higher in order to win. just by a few money things. i think they run into real money problems. bush has money. he can go the long distance. they can kind of get out and support a candidate opposite of donald trump and ted cruz.
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>> running that e-mail story. kathryn herridge is right out front on this one. reporting some very serious stuff of what was on that server. do you think, and, again, i am sorry to ask you an opinion on this. is there any way pst i cannot indict hillary clinton? >> we have talked to many people on the intelligence community. they say that they cannot believe that the fbi will not do something. they are telling us that it is heading that way. they are starting to move. there may not be a doj determination for an indictment. the fact that bernie sanders is talking about this, even in the
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way that he does, suggest to you that they see this as a big phone or ability for hillary clinton. stuart: thank you very much. how is this for a headline. former new york city mayor michael bloomberg runs for president, he could win it all. look who is here. doug shawn. let's back up a little bit. i say that bloomberg probably runs if hillary is indicted and probably has to run out. >> you heard from rat they are that there are very serious issues that appeared to be getting more serious. certain turmoil now. might uber would be the only candidate that would run validly on a program ringing people of both parties together. stuart: you think that is the factor that could make him a winner. >> he is also uniquely qualified
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as a businessman. getting clear accomplishments ahead of ideology. the mass of the people in the center. they really want those kinds of policies. >> a guy that is the nanny state kind of guy, do not drink that soda. by the way, we do not like guns. you think a new york guy can win missouri, kansas, utah, florida? you think? >> i think. he is a fiscal conservative. he has a strong environmental record. i believe that kind of approach it represents, more importantly,
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ross perot in 1992. it could be very competitive in a year. very limited characterizations. stuart: i do not believe this. i think that you are angling for a job. >> i do not inc. bad. >> well thank you, gretchen. i think that there are tons of people in the middle. i have had a lot of people say to me, do you really think that that is true? in december and january, the fbi felt that 5 million background checks for guns. bloomberg wants to get rid of guns. >> he is not anti-guns.
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>> he does not want to ban guns. stuart: he is big on gun control. >> he is for the second amendment. it is just a fact. >> he is serious. millions and millions of dollars across the country for gun control. >> his principal focus has been getting rid of the gun show loophole. it is not anti-second amendment. welcome back. the centers for disease control has a warning for women who may become pregnant. do not drink alcohol. avoid it altogether. we will explain that one in a moment. ♪
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p2 these are homes. i hear profits. higher sales. a 16% gain. trying to explain why she took money from goldman sachs. listen to the explanation. >> i told them what i thought. i answered questions. that is what they offered. [laughter] every secretary of state that i know has done that. i was not committed to running. >> you did not think you are going to run for president? >> i didn't. several times i said i think i am done. so many people came to me and started talking to me. took some money from wall street
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did millions and millions of dollars. was not quite sure if she was running for the presidency are not. >> i do think that those answers were weak. from that, i do not really falter at all. i think she should have had a better prepared answer. >> the bigger picture is whether or not people want to vote for her believe they would be influenced by wall street because she took that money. she is trying to play herself as more of a progressive. really, for me, looking at it objectively and looking who to vote for, do those payments affect how she will treat wall street? stuart: on one hand she is
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taking the money and saying thank you very much. when you appear to be vacillating on whether you are going to run for the presidency or not when everyone knows that you were running. >> she will not take as big of a hit on wall street. what has made her do that is bernie sanders. >> you are absolutely right, gretchen. welcome to the show. she was pushed into the situation because of bernie sanders. suggesting that any woman who is trying to get pregnant should completely avoid alcohol. doctor david is here. no outgo call at all if you are figuring on getting pregnant. >> it is new. even in an american society is saying no out call hall if you
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know you are pregnant here at we are talking about 3.3 million women. they go in and out. they may get pregnant and not even know that they are pregnant. they are consuming all of this alcohol. you end up with this fetal condition. stuart: you may be pregnant. you do not know it. >> that alcohol goes straight to the blood did goes through the brain and liver and other organs. you have a birth defect and mental retardation's. bottom line, do not drink. if you think you are pregnant or you are not on birth control and you think you may be pregnant, please check. stuart: you are 100% behind it. >> 100%.
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even though i love a glass of wine. >> leave me out of this. >> real fast. a state of emergency because of the zika thing. it seems to me that this is a major scare. is that justified? >> i do not embed at this point people should panic or be scared. what is coming up? now we're maybe overreact inc. it took about a century for this zika virus to come from africa. now we are seeing some few cases in texas and puerto rico. personally, as a physician, i do not think it will be a major problem for our country. the virus has to go to them.
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>> if you are in that situation, you are a young woman, it is devastating. >> here is a message from varney did if you are pregnant, please do not go to south america, the caribbean. you do not want to take a chance stuart: thank you very much for articulating the position. all right. black lives matter. an activist therefrom could be the next mayor of baltimore. he will run for office. we will explain it all in a moment. ♪
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stuart: calls, the department store cut it forecast. one of the biggest losers in the s&p 500 did a 15% drop for calls. baltimore. black lives matter. there he is in the middle of the difficulties in baltimore. gretchen, what are your thoughts? >> calling him the social media emperor. he has a huge following with younger people.
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the 13th candidate on the democratic side to say that he threw his hat in the ring. he really only has 13 months for people to get behind him. older african american women decide elections in the city of baltimore historically. can he relate to those women? could he be like barack obama and generate people to come out. stuart: you are addressing the question of whether or not he can win. can he get the support? this man who was active in the disturbances in baltimore -- >> i think he would get a bot of votes in that particular city. stuart: if he became the mayor of baltimore, how many people do you think would invest their money in the city of also more when it is run by an activist like him. i think there were 500 is this
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is out of business in baltimore because of what happened. >> how many open shows agree with his policy. stuart: fair question. yet again, you are on the ball. >> i will fluff up next time. stuart: the feud between donald trump and ted cruz is getting nasty. we are talking to the trump campaign in just a moment. ♪
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stuart: ladies and gentlemen, the headline is the rally has faded. oil is up. $0.15. that is why the stock market started to head south. donald trump and ted cruz over an alleged iowa voter fraud. that continues. this into what ted cruz had to say about donald trump's allegations. >> it is no surprise that donald is throwing yet another temperature jump. i think his reaction to everything is to throw a fit. i understand that on old finds it very hard to lose. he finds that very difficult.
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at the end of the day, the iowa people spoke. stuart: that is ted cruz firing back at donald trump. welcome to the show. good to have you back. >> hi. good to see you. not much that donald trump can do about it. rollback the results of iowa. throw out the results of iowa. let's have another election. that is not going to work. it stands. >> that is where we are really bringing up in issue. mr. trump is the corruption and corruption politician. it never gets changed. bringing this out to the forefront. we can expose a lot of the political system that is flawed. republican voters have been very concerned about voter fraud
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feared about ballot integrity. when it comes to november, we will fight that. with, specifically, ted cruz in this case. manipulating the voters. or, the dirty tricks that are being talked about with the cruz campaign. you have a candidate that is running a campaign on honesty and integrity. calling that out is very important. stuart: donald trump said he could have won in iowa. can you, could he have one? >> well, you know, i thought it was very interesting. he was on o'reilly last night and really broke it down for the viewers. even he showed it is very possible. it really could have set crews ahead and put donald trump in first place. there were a number of things that occurred.
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phone calls and more about that. anyone in the room. if you bust people, there's no way to trap those ballots to the registered voters. we will hear this over the next few days. just how flawed the process in iowa was. i am extremely proud of our candidate for coming in as close as he did. stuart: he had a great crowd. 12,000 people. okay. he did very well. why arkansas? >> this is an event that was on the schedule already for quite some time. there were a lot of people participating in that visit. it was a really great event. now, he is headed back to new hampshire. stuart: donald somewhat humbled after the second place finish in iowa. i know that it did not last long.
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was it painful? was it painful for him to step back and not be so aggressive? >> mr. trump has never ran for office before. this was his very first experience in the election process. he loves the people of iweb. he loved being there. there have been things that have been trickling out over the last few hours after the caucus. in the last couple of days since. it has really been frustrating. when you are manipulating voters, when you are lying in campaign ads, the people have been conditioned to accept dirty tricks as standards. we do not have to. that is the point that mister trump is making. we have an opportunity in this election cycle to fix that. stuart: thank you very much indeed. it was good to see you.
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ms. carson is rolling her eyes. >> i'm just thinking that i think what would be more appealing is to be talked more about the fact that he is the newcomer. he did not exactly know how to do the political system in iowa. more money into it and more for ground game he would have done better. more support for that potentially. >> you have influence. staying on trump. blake bergman is in new hampshire. >> you are just talking about the massive crowd that donald trump had last night. 12,000 plus they are. what we're seeing throughout this campaign cycle. it will be a much different kind of event here. donald trump expected to take the stage in about half an hour. this, only about four-500 people
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at this event. this is a smaller more older historic type venue. that is the reason for the crowd size. there is a different kind of crowd here today. one of the most procedures high schools in all of the country. a boarding school that is just minutes from here. a theater school, potentially, just for the ivy league. one hundred plus students are here in the crowd up there on the front row. some of them can't. they are just here to take in the trump experience. stuart: thank you very much indeed. i have some breaking news. what do you have, ask? ashley: going to be succeeded. he estimates as the tough guy at
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cbs. >> he has left the scene. god it. back to politics. shelby holliday from the "wall street journal." >> population trends. how they will affect new hampshire. you are telling me that the demographics favor marco rubio. >> possibly marco rubio. if you think of new hampshire geographically, it is sort of like a triangle. southern counties account for 80% of the vote in new hampshire. those are the counties he is going after. jeb bush, john k said. a punching bag right now. does have a lot of competition down there. i have to give a shout out to my colleague. very pleased abo this.
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they are more educated he had they are a little more moderate. rubio could possibly win those in new hampshire. those are the counties to capture. >> how about demographics and ted cruz. >> a much steeper uphill climb here. only 22% argued in joke of. evangelicals carry ted cruz in iowa. 65% of the vote there. ted cruz cannot rely on these voters like he did in iowa. whether or not that will work remains to be seen. he could win some of these counties. they are a little less educated. a little less wealthy. >> how about trump in new
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hampshire. he is way out front in the polls. 40% of voters do not make up their mind until three days before the primary. sunday maybe we will get a start to see how things will shape up. >> he has a populist message. voting more on economic issues and social issues. >> i am excited. i just got it. thank you very much indeed did the des moines register calling for an audit now. it was razor thin. the sanders campaign was considering challenging it, but now did not. >> is that because of the coin flips? they flipped a coin to see who got that last delegate and she won everyone.
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i just thought that it was absolutely ridiculous. >> some people left the caucus room. some people came back and were not counted did who was counted to was not. it always works in hillary's favor. >> all right. we have to move on. we will be back with more in just a moment. we are talking tesla.
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♪ >> the volatility continues. stocks down about 70 points. now, relatively flat. the s&p 500 down for. the nasdaq stock is down 11. some of the big movers are names caterpillar and united technology are gaining. calls came out with their numbers. their latest numbers. the worst selloff ever. that is on the entire retail sector. names like macy's, tj maxx. gruff pub is a mover today. the biggest single today. of over $2. starting your day at 5:00 a.m. we will see you there. ♪
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>> marr in shkreli. refusing to answer any questions. he left the hearing. fired off a tweet insulting the committee. hard to accept that these imbeciles represent the members in our government. that is shkreli. you have been in contact with his lawyer. >> raising some red flags. actually said that the tweet is
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indeed authentic. following my advice. he was very frustrating. listening to what he believed to be plainly false statements. he could not respond to them because of the pending criminal charges. he meant no criminal disrespect. >> i think that he has a problem. >> he also talks about having his previous attorneys. he authorized them to come up with a list of facial responses of people who testified before congress. >> thank you very much indeed. after the event, elon musk. how customers were being treated at the event. that person joins us now.
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insulted tesla. what happened? >> i would not say that i insulted tesla. i said repeatedly how much i appreciated the car. three months later, about three weeks ago i received that e-mail. my new tesla model x. i proceeded to do this and submitted my order. i went to check on the status of my order. i found that it had been canceled. speak to you went to date even so casing the model s. you checked in to get your tesla and checked in with the ordering of it. then you found that your order was canceled.
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>> not at that point. why was my order canceled. i talked to them. he told me on the phone, felt that my previous post was excessively personal and he did not feel comfortable with me owning a tesla car. >> what are you going to do about this? you have your free speech. deciding that i should not order it. the cancellation of my order. stuart: you cannot do anything about it. if i went into one of tesla service centers, i sell directly to their customers. if i win them personally to a service center, they would
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confirm that that was true. you will break down a lot. you are not going to get that tesla. it was not an inexpensive vehicle. >> thank you. >> they are lining up. [laughter] >> absolutely. we turned south. now we are down six points. sixty-three is where we are. more varney after this. ♪ more of a control... enthusiast. mmm, a perfect 177-degrees. and that's why this road warrior rents from national. i can bypass the counter and go straight to my car.
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stuart: i will show you go pro that has taken a hit. it is a new low. they are losing money. they have predicted even more declining sales. >> they are slimming down the number of cameras that they offer. and then they have to work on editing software. that is what they are hoping to do.
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they are cutting 7% layoffs. the company is certainly hurting. >> buying the whole company. >> they created this mini camera industry. the biggest competitor, the cell phone. >> $80 a share at one time. >> remember all the excitement around the ipo. there was so much excitement. this was the fundamental question. can they hold on. >> you are not buying another. stuart: hold on. listen to this. kim newton may not enjoy. california tax laws.
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>> this is so confusing. athletes play in different states. they get assigned a tax code. california has the top tax rate in the country. no big surprise there. if cam newton wins on sunday, he will pay an effective tax. either he wins or loses. essentially about the same amount of money. if you work in california, you must pay tax on the income's u-turn. >> do not ever work in california. >> i went to school there, but then i left. we will have more varney after
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this. ♪
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>> is guy could not care less about the proceeding. it is not even a proper subject. it is too big for lyrical ax trying to get on the evening news. >> there is a sound bite. judge of palatine no. i kind of agree with him. >> what? he will not turn this country into socialist. i just think it was an opportunity for the lawmakers to have their moment on the evening news. >> sorry. you will have to end on that note. >> he has become the poster for iron trim board for capitalism.
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>> congress does not effect people. >> capitalism in the pharmaceutical industry. >> we have to see what happens. it does not favor mr. shkreli. neil cavuto, my time is up. neil: thank you very much. there are some problems. they are not donald trump created. calling for a complete audit of the results in iowa. you may recall that the race is very, very close. that may be easier said than done. there is no way to recount these ballots. a national democratic party running it. i know that it is a little weird.


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