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tv   After the Bell  FOX Business  February 2, 2017 4:00pm-5:01pm EST

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>> going for atlanta. lifelong jets fan, going for atlanta. send me nasty tweet of the that's fine. i'm going for atlanta. liz: i'm heading down to the super bowl. [closing bell rings] i have to go for atlanta to be contrarian. s&p for the s&p, david and melissa. david: thank you very much, gary. donald trump on the phone about brady for you. you have to ages to the president. a wild ride for the dow today. the dow struggling for gains in the final moments for trading. major averages ending mixed. only one closing in the green as we wait what is expected to be a huge report from amazon. it will be out any moment. i'm david asman. melissa: i'm responsible for the huge amazon report because by too much. i'm melissa francis this. is "after the bell." here is what else is happening this hour. very busy day for president trump, the president making headlines comments on trade. criticism of a deal involving
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thousands of illegal immigrants coming in from australia. new threats against iran and even, even managed to pick a fight with arnold schwarzenegger? david: what? melissa: it has been a really busy day. we have you covered on all of it. meanwhile, berkeley burning. chaos and intolerance from the left happening at birthplace of free speech. college republicans across the country say they feel threatened. christian persecution on the rise in every corner of the world. details on a disturbing new report. david: it is frightening. wait until you hear details. stocks, reversing course today, edging lower as uncertainty returns over president trump's trade and foreign policies as well as the delay of a commitment to lower taxes. the dow ending the day down about six points. caterpillar, unitedhealth and bowing among the biggest losers. lori rothman from the floor of the new york stock exchange. lori, retailers are moving big as we await amazon's earnings report.
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>> if you look at the stock performance of major retailers. online retailers like amazon and versus brick-and-mortar retailers you witnessed a cultural shift the way we shop. melissa talks about how many amazon boxes show up at her place. mine too. amazon up 5%. great for today. shares over the last 52 weeks down 30%. year-to-date, early february, macy's down 14%. the news, outgoing ceo terry lundgren will explore a sail of macy's. business, customer traffic over the holidays has been so slow. looks like macy's needs to team up with a bigger company to make it work. brick-and-mortar retailers take a big hit. ralph lauren shares six-year low. ceo is out because it can't get along with founder ralph lauren. only hired a year ago. david: lori we have to break in. numbers from amazon, trading way lower after-hours. adam shapiro live in the newsroom with the numbers. go ahead, adam. >> miss on revenue.
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let me give you the revenue number. 43.7 billion. the street was expecting 43.8 billion. earnings per share, we're rerting 1.54 share. that is a beat. we were expecting $1.35. revenue is a miss. we'll jump into this and get you more headlines. melissa: here is scott martin, kingsview asset management, chief investment officer. he is a fox news contributor. jays con rotman, lead deaisle. give me reaction. >> i like my note officially published on the screen before earnings are releasing don't buy amazon at these levels. short and sweet, amazon is a phenomenal company. it is overvalued. i wouldn't touch it because pe is almost at 200. prime gets you stuff in a day. you will not see prime profits. you will wait a long time to buy at these levels. >> business is all about the cloud. they were the first to really go in and make a huge investment there. now that is where everything is
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moving. don't you see that as the future business and a reason to be involved in this? >> yeah, if you look at amazon as retailer you're making a mistake. their web services that is where a lot of their gross margin is. that is growing incredibly. part of why the stock is down a little bit. maybe numbers came in light. that is the future, you're correct with the company's growth outlook. i think that will carry this company higher in the future. melissa: jason, we want to drill down deeper on earnings per share number. that was the one supposed to be a concern. we're seeing there a beat right now. they had forecast there were, so many costs involved in people like me who order a pack of gum and have a prime minister membership and get it delivered the same day but they beat on earnings per share. >> i think that amazon is unarguably, inarguably a fantastic, world of had class company. i think if you're speaking to investors out there, and all i'm
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saying is that the thing has a pe of 200. melissa: just too expensive. i gotcha. >> just too expensive. exactly. melissa: go back to adam real quick who has more color on this. go ahead adam. >> charlie, hold on a second. i want to let you know prime minister membership, when we talk about prime now, was up 73% since 2015. but they're not giving us the raw number for prime membership but it was up 73%. web services 3.54 billion. melissa. melissa: okay. jason, go ahead. you were finishing your thought on that. the stock is just simply too expensive is your point? >> it is too expensive and you know what? amazon and microsoft obviously this discussion could go on and on, but even from a cloud perspective they're not direct competitors in everything they do but in some things they are. ultimately i would rather own microsoft. it has lower pe. a more stable business. it has a lot more room to grow at this point in my humble opinion. melissa: okay.
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david: as earnings season well underway you can see the biggest companies in the world are focused on o thing. we'll give you a guess. president trump obviously. most conference calls center around the president's hot-button issues, tax reform, border taxes and so on. scott, sounds like hyperbole to say it is all about donald trump but it really is. you think about apple, exxon, amazon. jeff bezos owns "the washington post." that plays into the trump factor, it is everywhere the trump factor. >> if you're a company in the s&p 500, david, you want to get along with dt. you have opportunity. one thing amongst controversial things donald trump has done, he has reached out and i think connected, david, with the business community. it is such a sigh of relief, breath of fresh air to have somebody in the beltway that actually understands business from private sector experience. that is why corporations are in better shape than they were two months ago when obama was still in there. david: jason, not only getting
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along with donald trump, it is understanding what makes donald trump tick and where he want to go, how that affects things like the dollar. how that affects things like exports, right? >> you got it, 100%. that is exactly what i was going to touch upon. really, i disagree with people making a blanket statement that trump is good for the whole stock market and every u.s. company. it literally is a case-by-case basis as i alluded in my notes. if you're exporting, that is great. if you get a lot of materials inbound to make the stuff you sell you may suffer. david: if you're like amazon, scott martin, if you're like amazon and a lot of stuff you're selling depends on cheaper imports, an import tax would really hurt. >> true, david, but there will be fiscal reform to back that up. david: let's hope. let's hope. we haven't heard details yet. >> that is what he telling us. jason says -- coorations are
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better off today than they were under obama. we've already seen that reaction. david: on that we agree. >> that is already speaking volume ups. david: let's get the tax specifics. melissa: sitting down with top lawmakers and executives from harley david son. tax reform expected to be front ant center didn't come up. david: no. melissa: some connecting that with the dip around the dow. other headlines came out of the meeting. peter barnes with all the details. reporter: that's right, melissa. president trump met with top tax writers from the house. they talked about renegotiating trade agreements nafta in specific. house speaker ryan was talking about tax reform on "fox & friends," republicans want to repeal and replace obamacare first before tackling tax reform. look for tax reform by fall. >> it is just the way the budget works, we won't be able to get
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the ability to write the tax reform bill until the spring budget passes through the summer. these are things we have to do. close budget deficits. work on our debt. tax reform which is economic growth. reporter: later at the white house as you mentioned president trump met with labor union officials as well as harley-davidson executives around promised trade deals that will help them all. >> our allegiance is to american workers and american businesses like harley-davidson. we're very strong. in the 1980s, i remember this, you were victims of trading abuse, big trading abuse where they were dumping all sorts of competitors all over the place and ronald reagan stepped in and he put on large tariffs and you wouldn't be talking about harley-davidson right now if he didn't do that. but we're going to help you too. reporter: after the meeting the harley people came out of the west wing. said they appreciated the president's interest in strengthening american manufacturing.
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they jumped on their bikes and rolled. melissa. melissa: pretty cool. peter, thank you very much for that. david: president trump putting iran on notice. oil doesn't seem to care shrugging off president's new threats. it was down slightly, $53.54. first loss in three sessions. gold logging its highest close since mid-november, as the dollar gets weaker. gold settling up over 11 bucks to 1219 an ounce. destroying their own campus to protest a conservative speaker. authorities letting chaos an intolerance reign. president trump is responding, if california authorities won't defend order and the first amendment, he will. details ahead. melissa: democrats gearing up for a fight to prevent neil gorsuch from joining supreme court. the same people threw their support behind him a decade ago. david: house minority leader nancy pelosi bashing the president and his chief
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strategist as partisan tensions continue to rise. >> what is making america less safe is to have a white supremacist named to the national security council. he is an illusionist. now you see it, now you don't. you can't predict the market. but through good times and bad... ...at t. rowe price... ...we've helped our investors stay confident for over 75 years. call us or your advisor. t. rowe price. invest with confidence. you know how painful heartburn can be. for fast-acting, long-lasting relief, try doctor recommended gaviscon. it quickly neutralizes stomach acid and helps keep acid down for hours. relieve heartburn with fast- acting, long-lasting gaviscon. and helps keep acid down for hours. juswho own them,ople every business is different. but every one of those businesses will need legal help as they age and grow. whether it be help starting your business, vendor contracts or employment agreements.
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david: news on amazon. stock is down 4%. followed a beat on earngs. did miss in revenue as competition continues to heat up, very competitive environment in e-commerce. melissa? melissa: earnings alert. visa shares up 3% reporting first quarter 2017 earnings. company beat on earnings per share and revenue. sees revenue for the fiscal year
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13 to 18%. higher maybe? fight for america's highest court. president trump meeting with conservative groups to push his supreme court pick. discussing opposition to judge neil gorsuch and what strategy to do in response. sharmane yost was in the meeting yesterday, american values senior fellow joins me now. how concerned was that meeting about getting this nomination through would you say, put it on one to 10, how big of a problem did the group think it was going to be? >> i would give it a one only because we did discuss various things could come up. the president was wanting to kind of look at all the different options and talk about what the other side would be talking about. frankly, melissa, this is an old playbook of theirs. they're not being terribly creative. they even had sign were preprinted came out very same night he announced the nomination. so, i, the meeting was pretty optimistic, very excited. this is a great nomination.
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melissa: i mean obviously the other side doesn't think it's a great nomination. they're talking about, you heard the rhetoric, all things will be threatened. nancy pelosi saying if you leave your house or breathe air or dripping water, you know, this is the horrible choice for you. obviously they're gearing up for a big, big fight. i guess the question comes down to, do you think they will spend the political point, did the group think, on this nomination or are they going to save it for the next one, because it started to feel like they're gearing up for this one? >> melissa, listening to redescribe the kinds of things that she was saying it is all the over the top rhetoric. when you're talking about someone who has the kind of credential neil gorsuch does. he is one of the leading legal minds of his generation. you were saying that he is getting opposition right off the bat but mostly political opposition. melissa: of course it. of course it is. that's what we're talking about. this is politics. they will play politics. when the roles were reversed a lot of republicans played politics.
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this is with we expect at this point. on the left they feel very backed into a corner because they're losing on every front. they may decide this is the battle. when you look at what some folks are calling swing votes, and they are democrat senators. we have a full screen to put up on there, some people in the middle might be willing to come over to gorsuch's side, joe manchin, heidi heitkamp, were those list of folk discussed in meeting. >> this is political opposition, not legal opposition. we're hearing from left-wing scholars laurence tribe, professor -- he is getting -- making it hard for democrat. we haven't mentioned the fact he was confirmed unanimously to the 10th circuit, unanimously. so some of these senators who voted for him last time he was up in front of the senate are really going to have a hard time
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defending their opposition to him now. so we did talk about that, about the fact that you know, we're seeing kind of a flip now people saying, well he was fine for the 10th circuit for supreme court. that is just not going to fly. melissa: this is politics. it is going to fly because they're democrats and they will be on their side trying to hold up the wall here. i think the real question, since it is about politi the senators listed on screens there are all from states ended up supporting donald trump. maybe only political argument for these folks, they may feel a loyalty to democrat to stand against gorsuch but, perhaps they would worry about how they would be receive back home when their own constituent voted for donald trump. isn't that the real argument for these folks? >> it is when you have a lot of purple states and have an election as narrowly decide decide as this one was. it is dicey for senators facing re-election for midterms, it
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will be a real political challenge. particularly, we may want to make the different ages between idealogical opposition and the political opposition but when it smells like such a political, knee-jerk reaction, when it is this canned kind of demonstration, it is starting to feel very tired. it is starting to feel very inauthentic. melissa: we have to go. charlene, thank you for your time. david: trying to reverse quote a dumb deal made under the obama administration. why president trump wants to prevent a ally from sending the next boston bombers into the u.s. christianity is now under attack on nearly every continent. why does the media scream about attacks on muslims? ambassador john bolton sounding off on that. >> religious minorities are being persecuted. there is nothing wrong preferring religious minorities from persecution. yazidis are being persecuted.
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melissa: breaking news right now, chipotle shares tumbling 3:00% after hours. profit falling more than 76%. oh, my. the burrito change was hurt by minimum wage increases, higher spending on advertising and promotions but it is planning to open at least 195 restaurants in 2017. hmmm. david: good luck. melissa: yeah. david: national security advisor general michael flynn appearing at a white house press briefing yesterday to tell iran it has formerly been quote put on notice, this after iran conducted another ballistic missile test on sunday. fox news contributor, former u.n. ambassador to the u.n. we have very important topics in four minutes. let's run through starting with iran put on notice, whatever that means. the president said nothing is off the table.
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he was asked specifically about the military option. what does that mean? might we be contemplating attacking one of their missile silos or what? >> i think for eight years iran thought there was no credible american military threat. that is one reason they were prepared to and did completely outnegotiate us on obama's famous nuclear deal. so for mike flynn to say you're on notice, i took that to mean, this deal is about one heartbeat away from oblivion. for the president to say all options are on the table puts credibility into a military threat that has not existed for a long time. if there is any chance at all to get the ayatollahs to back off the pursuit of nuclear weapons it is credible use of military force. not economic sanctions. it's a credible threat. two weeks in office, donald trump has shown himself to be credible. david: he has drawn a red line, imper sighs he might be, got to avoid doing what happened in the obama administration, drawing a
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red line and ignoring it. >> the choices dealing with the iranian nuclear program are very unpleasant. nobody should be under any illusion. they have been after this weapon for 30 feel years. they're getting very close to it as the recent ballistic missile test proved. david: turning now to that reportedly testy phone call between president trump and australian prime minister malcolm turnbull, that bum deal of refugee swap. president trump spoke about the deal. >> i have a lot of respect for australia. i love australia as a country. we have a problem, for whatever reason president obama said they were going to take, probably well over 1000 illegal immigrants who were in prisons, and they were going to bring them take them into this country. i just said why? previous administration does something, you have to respect that but you can also say, why are we doing this? david: so ambassador bolton, what do you make of this?
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>> well i think one other thing donald trump has proven he is pretty plainspoken man. there is only in my view one nationality on earth more plainspoken than americans is australians. the president voiced his opinion on that obama agreement and malcolm turnbull voiced his opinion from australia's point of view, it would have been an interesting conversation. you know what? this is how friends get to know each other. in six months nobody will pay attention to this. david: true. supposed to be an hour conversation. it ended up being half hour after the testy exchange, supposedly. a lot of this is reported. apparently the phone call to the australians seen there on the right of the screen came right after donald trump spoke to angela merkel, and that was also very contentious. and she apparently lectured him about the geneva convention. he didn't take well to that. >> look, angela merkel lectured barack obama on how alliance diplomacy works in the context of russian sanctions.
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didn't get anywhere with him either. look, it is, i think still hard for many people around the world, it is obviously hard for people in this country, to acknowledge hillary clinton lost the election. good god, trump is president. just give it another couple weeks. takes a while to get used to it. they will get used to it. david: they will settle in. new report from advocacy group open doors usa. this concerns the prosecution and persecution of christians. it is not only increased but spread. it is occurring on virtually every continent around the globe. ambassador bolton, 90,000 christians according to this report have been killed in 2016 because of their faith, specifically. 215 million christians are prevented from practicing their faith. why are we only hear about muslim persecution when all this is going on?l, i can't answer tt question because it is a problem with the press. i think on a global basis. thesare horribleumrs, d i think it demonstrates that the
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oblem is increasing, not decreasing. so for those who believe in religious freedom around the world as a basic human right, and something that animates american foreign policy, i think we should have some congressional hearings on this i think the state department ought to be called up and asked whatth going to do to change it. david: one thing you spoke out in favor and other people as well, with regard to the refugees from the middle east, back when we were letting them in under the obama administration was, there were so few people, so few christians being let in. it seemed like you could count the number on one hand of christians being led in while thousands of muslims. now i understand the ratio of muslims to christians in the middle east, but, we were delinquent not letting in christians trying to get in because of religious persecution? >> absolutely. look the basis of the definition of refugee and granting of as sill loom to the united states or other countries is a fear of persecution because of your
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religious or political beliefs or similar things. it is the christians, yazidis, split off groups from islam are in danger, really of genocide. those are the people who should bet preference under long-accepted international refugee policy. david: john bolton, give us four minutes and we'll give you the world. we did it. big subjects. >> glad to be with you you. david: thanks for being here. melissa: not backing downs. nancy pelosi doubling down on her criticism of the trump administration. the latest jab from the house minority leader on one of trump's senior advisors. that is coming up. plus free speech on campus, well, unless you happen to be republican. >> the left is terrified of anyone who they think might be persuasive or might be interesting or take people with them. i am not a scary, far-right kind of neo-nazi as some of the posters came. they put things on posters and
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[shouting] [bleep]. melissa: violence erupting at uc berkeley. hundreds of rioters shoong off fireworks, smashing windows, reportedly burning u.s. flags, to stop "breitbart"'s editor from giving a speech at the left-wing campus. warning the on twitter, if
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uc berkeley does not allow free speech and practices violence on people with different political view, no federal fund, question mark? >> we have campus reform contributor this is part of a growing trend. what is amazing this was about stopping free speech. you had somebody coming on campus who is presenting an alternate point of view. and these student were determined, i'm not even sure they were students. they were probably professional protesters paid to come in and cause this damage but they were just there to stop the speech from happening. what is going on? is this berkeley phenomenon? is it happening all over? >> it is not a berkeley phenomenon. it is something we're really seeing around the country. it is not a isolated incident. new trend on college campuses anywhere, when someone comes to bring an opinion you don't agree with, rather than talking with them, or discussing policy difference, crazy concept, you shut them down. burn things in the street. flip over cars and call them a nazi. call it a day's work saying we
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won that argument. these are not even protests anymore. straight-up riots. i don't think we'll see too much condemnation those on left. it is given riots will happen anytime a conservative comes to campus. melissa: we don't know about arrests. people tweeted me much more than just the campus. the whole city. this is destruction of property. obviously. there was a supporter, who was pepper sprayed doing an interview. watch this video. >> i think the people watching tonight should look at people protesting look what color hat they're wearinofertainly not red. are you surprised, ma'am? melissa: isn't that amazing that was pepper sprayed while being interviewed on television. her hat did not say make america great again. it said make bitcoin great again. it was, and, here she is pepper sprayed in the face for speaking. david: wow. >> the people that are doing all that, shutting her down and pepper spraying her are doing
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that in the name of tolerance as they would call it. i always find it ironic with student on campuses, leaders through campus reform, so many say i'm on let because i'm scared of the violence that donald trump is creating around the country and violents of the republican party. i don't see too many student rioting lighting fires and breaking out windows of starbucks in name of conservatism. those on the left are doing it. professors and administrators emboldening them, encouraging them. let's hear out what our opponent have to say. they're saying no, you shut down anyone that disagrees with you. call them a few names. melissa: people watching in the video, that created all this violence, damaged all the property and lit all the flames were not arrested. you talk to more and more conservatives who say, it is not worth the threat to their body, to go and make speeches on campus. i mean, where does it go from here? how do you stop that trend? >> i was at georgetown university yesterday morning talking to student. we were trying to ininterview
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student about opinions on supreme court. one guy said, look, frankly i don't want to go on camera. i doesn't want people to know i'm conservative. because i will be harassed by my peers, and my grade could be knocked down by my professor. accounts with accountability and letting people know that college is a place and america is a place where we should have discussions freely and not just shut one another down because of disagreements. melissa: fascism in the name of tolerance. amazing. thanor coming on. david: bro shirt facism. that is what it is. house minority leader nancy pelosi slamming the trump adminstation today, starting with advisor steve bannon. >> what is making america less safe is to have a white supremacist named to the national security council. it is a stunning thing, that a white supremacist, bannon, would be a permanent member of national security council. david: yes, she said it twice. then after attacking bannon, she moved on to the president. >> he is an illusionist.
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if you, now you see it, now you don't. so when the heat was turned up by people turning out at airports throughout the country, probably surprised him, he decided to move up his announcement of his supreme court justice. david: here to react, erin elmore trump surrogate, trump "apprentice" contestant and. we have bustle's editor. how can democrats attack president trump's bluster when they say things like this. >> i don't think necessarily what nancy pelosi said was an example of bluster. david: calling steve bannon a white supremacist is nothing but bluster. he is not a white supremacist. >> steve bannon as specifically said "breitbart" where he was executive chairman was the platform for at-right. separation between peoples is necessary for the -- david: julie, that is outrage just.
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call somebody, that is such a charged, statement. statement to make, call somebody a white supremacist in this day and age, essentially opening it up for attack. erin, why it is not irresponsible for julie, but of nancy pelosi to say it. >> irresponsible? it is slander. let's talk about nancy pelosi for a second. she has the honor and distinction of being the most well-known yet least-liked person ithe te, and leadship. coming from pollsters. the democrats have called her a disgrace she is flip-flopped on her stance whether it is obamacare or the economy. all she is doing is pandering to her political leftists out in california. for her there are no credibility here. she is not fair. she is not balanced. and she is liar. david: julie, aren't you worried about the credibility. same charges thrown at tea party when they first emerged in 2010. tea party was racist organization. then you had people like herman
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conn, herman cain, allen west, ben carson how can a black conservative be a racist? >> i think that this goes back to whether or not you know the alt-right does espouse ideas -- david: wait a minute. you can't just paint with a broad brush -- >> "breitbart" said white nationalists. david: charses were made now against something called the alt-right, made against the tea party. a lot of black conservatives members of the tea party. it couldn't be racist. >> i don't think that is really same thing. when a group specifically says as alt-right said, richard spencer is one of the people they point to for their ideology. richard spencer called for a white homeland. david: steve bannon did not say that. steve bannon did not say that. >> you can't remove those things from each other. david: we don't paint with prod brush. that is what fascists do. we have to leave it at that, ladies. melissa. melissa: breaking news. snapchat, parent company snap, officially filed for its ipo,
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for 3 billion in common stock. evan spiegel and robert murphy each own 44.3% stake in the company. so there you go. ipo season alive and well. david: meanwhile, what is alive and well what is happening inside of the beltway. at least they're alive. i don't know how well they are. there is a lot of activity going on. amazon stock showing interesting movement now. melissa: amazon's stock is down 4% after hours following a beat on fourth quarter earnings. weaker-than-expected holiday sales for the fourth quarter came in weaker than expectations. citing unfavorable exchange rates for weak guidance on that one. david: securing our borders. the president planning to follow through on a major campaign promise. why the proposed border wall may be finished sooner than you think. >> i think the wall should be looked at is, does it protect america? if the answer so that is yes,
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david: breaking news. it is now official, snapchat parent company, snap, officially filed for the ipo for $3 billion in common stock. the ipo for the popular disappearing messaging app has been long-awaited. we should say the company reported melissa, revenue in 2016 of 404 million. i'm laughing because it had a loss of 514 million. we all remember amazon for years, amazon was reporting losses before it turned around and now it has done nothing but go sky-high. so it could be in one of those amazon positions but you don't see it as being quite as multidimensional as amazon was. it has a very specific focus. melissa: right. david: you wonder whether it can make up losses of 100 million a year. melissa: the chat that disappears after you have it, obviously, this is one of those
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things debated over time, does really go away?u trust when ths away? david: nothing goes away. melissa: average users in the quarter that ended is a 48% increase from same quarter a year before, although you have to say before the kids, which neither of us are tend to move on from these things rather quickly. david: they do. you're right, nothing tends to disappear entirely when you write it on, or at least we assume that. they came that it does, then you see all the occurrences of when you thought something was going to be disappeared on your computer or your handheld and comes back again to haunt you. melissa: sound very old to have this conversation. david: i know. we mentioned the number of shares of stock, the value of the company would be between 20 and 25 billion. this would be the largest u.s.-listed technology ipo since alibaba. of course that was huge. that was 168 billion in valuation in 2014.
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it is more than that now. this is pretty small in comparison but still, 20 to 25 billion is a lot of money. melissa: huge story in the markets because this would be one of the biggest high-profile ipos we've seen in a while. to put the app on track for the stock debut coming up. people talk about when it would happen. now we know. david: there are a lot of millenials out there, 158 million daily active users on average. that is what they claim. they have to come out when delivering an ipo. you have to come out with all this inside information. that is how we know about their loss of over 100 million a year. 48% increase though in active users from the same quarter a yearinging a. compared to facebook which has over a billion, not that large. 158 million they think is worth $20 billion. melissa: there you go.
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lori rothman down i believe at the floor of the new york stock exchange and has more information on this one, lori. >> very special guest. peter tuckman, one of the best sources here on floor of the exchange. snapchat filing paperwork to go public. what can you add to the breaking news, peter? >> we're waiting to find out when they were going to file and where they were going to list. obviously as broker on new york stock exchange, we were, i walls hopefully anticipating they would bring it here and, we find out just now, just came across they filed for their ipo and it will be listed on the floor of the new york. >> it had been predicted valued at $25 billion. do you have anymore details? >> i don't know what the valuation is. the blips that are coming out are so huge. revenues of 4$0 million versus an -- 74 -- $470 million. estimated 150 million daily users. >> how discuss it compare to facebook?
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could be second largest. >> very possible i don't think it has the track record or history obviously that facebook does but obviously the hugest thing in social media that is going on right now. 158 million daily users. >> ceo evan spiegel, what an interesting move, right? he was offered 3 billion by facebook couple years ago. he could go public for valuing of up to 20, $25 billion. >> the stock has changed. we saw facebook go public on nasdaq. there were some issues. we were really upset we didn't get the listing. we had number of them since then. nothing big as facebook obviously. this is huge deal. this is what we've been working for. the exchange has been vying to get them to list here for a long time. this is huge coup for the nyse. >> in terms of timing, guys, i saw listed confirmed here at new york stock exchange from march. i'ven a little bit away from my computer. >> we're thrilled about it.
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giddyup everyone. melissa: thank you very much. jonathan hoenig son the phone right now. one of the things really significant about this it ushers in that group of highly-watched, sort of venture-backed companies that have grown and become more ubiquitous mature to do an ipo. things like airbnb, uber, what do you think about this, jonathan? >> melissa, these are the unicorns, stocks like you said, highly valued by venture capital companies for years. the question now is it going to be a facebook or is it going to be a twitter. twitter was the last high-profile internet company go public. we know what a disaster that stock has been. facebook in my estimation exceeded the stock new all-time high because of innovation. snapchat wants to go the way of facebook it will have to innovate. at this point facebook instagram
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is eating snapchat's core business for lunch. melissa: that's really what the essential difference is. twitter is something a lot of people use. i love twitter. they never figured out how to make a bunch of money. facebook brought adults as they said in form of cheryl samburg when we have to do next to monetize how much traction we have here. that is oversimplifying, but some big differences between the two companies. snapchat has similar challenge, kids especially liked it because, it you know, became almost a sexting app where people were sending obscene pictures to each other. david: oh, dear. melissa: it disappears. you got to make money off that, jonathan? >> indeed. this is an industry where innovation isn't just accepted, it is required. as you said,. you don't have to go back to myspace. what happens when a rapidly-growing company doesn't continue to grow rapidly. that could be a real challenge
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here for snapchat. can it meet the valuation. it can come public but does it deserve the valuation three billion a few years ago, upwards 25 billion today. david: by the way in 2016, when they had recent round of funding it was valued at 17.8 billion. it is increasing in value but these figures, not really market-based. it is pie-in-the-sky stuff. it was founded in 2011 by three student at stanford. that does kind of gall you a little bit, that these students will be making billions of dollars. charlie gasparino is in the newsroom. a lot of students make billions of dollars these days, right, charlie. >> not me. david: you're not a student. >> i was working at golds gym in columbia, missouri. melissa: that makes sense. >> for $3.50 an hour. that was my road to billions. listen, you know a lot lot of
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these -- familiar story here. mark zuckerberg, jack dorsey, they were not thomas edison. they were young kids figuring this out in their dorm rooms and things of that nature. it's a fascinating capitalist story. i do think, there are two competing themes with the snapchat ipo. one competing theme are we hitting a market top with these things? i don't know about you guys, far be it from me, i don't send pictures of myself to anybody. melissa: right, well, i've seen your twitter feed. >> i knew you couldn't let that one go. i understand the utility of these things. that said, you know, so are we it hadng a mket top? thataid i could tell you, we were addressing this in liz claman's hour, there is interest in twitter if the stock comes down. people at disney still talks about disney. disney owns espn. it is declining asset. twitter is doing interesting things social mediawise with the
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nfl the maybe i'm too old to get the utility of these things. melissa: yeah. >> but you know, listen there are two sides of the story. are we missing the boat, us old people because we don't get how kids use social media? or is that a market top? that is where it gets interesting. david: charlie, another business out there really crosses the panorama from millenials to older folks like us and that is uber. we just got word uber's ceo, travis callan nick leaving the president's business policy forum. i assume it is some kind of a protest over the immigration thing. we haven't heard the details. do you know anything about it? >> only thing i do know about it, what i've been talking to investors last couple days he has gotten a lot of pressure to leave. melissa: right. >> he was much more, people said who are these guys that own uber? he was more of a libertarian in the peter thiel sense of the world. melissa: yeah.
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>> free-thinking silicon valley guy that was not, was not wedded to the leftism that most silicon valley ceos were. it is really a shame that a guy like that is being silenced by the left for being on a panel that wants to help the country produce jobs. i mean just really unbelievable thing. i think you have to take your hats off to peter thiel though for not buckling under to all this peter thiel spoke at the convention. being a conserve any of in silicon valley or even a libertarian, not necessarily a conservative is like being a conservative in hollywood. you're singled out and attacked. david: scott mcnealy left silicon valley. he moved out of the state entirely. melissa: uber there was hashtag boycott uber campaign that caught fire. celebrities fanning flame. delete uber account and go over to lyft. the company faced a lot of pressure. ironically getting close to the
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president is a good business decision talking about visas. all of the different issues going on in silicon valley you need the help of the president. >> it's a shame. you know what is great about our coverage? we bring politics and finance together. david: we do indeed. >> watch us. david: thank you, charlie. good stuff, appreciate it. melissa: all right. so it is the president versus the governor. why arnold schwarzenegger is proposing to switch jobs with president trump. david: huh?
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opportunities aren't always obvious. sometimes they just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets
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and drive forward with broader possibilities. cme group: how the world advances. >> they hired a big movie star, schwarzenegger to take my place. we know how that turned out. the ratings went down the tube. >> donald, i have a great idea, why don't we switch
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jobs, you takeover tv because you are such an expert in rating and i can takeover your job. and people can finally sleep comfortably again, hmm? melissa: he does jokes at his speech, team take it so seriously. david: i think people will have fun with that one. melissa: all right, "risk & reward" starts now. liz: a violent riot by the left, prompts university of california at becialgl berkeley to cancel an event with conservative milo yiannopoulos.

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