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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  June 27, 2019 3:00pm-4:00pm EDT

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tone to all this trading. liz: wonder why. the first letters that word trading, trade, right? we are waiting on this. charles: we are. liz: breaking news. t minus four hours to the kickoff of that g20 summit in osaka, japan. president trump on the ground at this hour along with the rest of the world leaders, of all the one-on-ones and working dinner meetings, perhaps the most crucial meeting will be the one that could determine the fate of the global economy and your portfolio. ahead of tomorrow's face-to-face with chinese president xi jinping, we are taking you to japan live for late-breaking details as reports surface now that huawei has become a central pawn in the g20 game of chess. that's why the markets may be holding their breath for any news on the upcoming trade talks. the dow is actually trading all day in a pretty narrow range of 141 points. up 17, down 17. right now, we've got the dow up
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about 34 points, s&p better by 12, nasdaq up 56. boeing is kind of holding back the bulls at the moment. tell you why. from wall street down to miami, it's night number two for the democratic contenders in the 2020 showdown to show their stuff at the debate. we will go live to miami for the latest, hottest chatter on who's getting the most buzz ahead of the big moment. climate change was one topic that didn't really get the buzz some think it deserved. the potential job creator won't get the cold shoulder here, though. we are going to introduce you to the company that's developed the first zero emissions fossil fuel plant that the ceo says will lower your electricity bills across the nation for both individuals and businesses. could this be a true game changer in the energy world even for climate change skeptics? it's a fox business exclusive. plus, mark zuckerberg takes a sledgehammer to the idea of breaking up facebook.
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bitcoin's neck snapping about-face after yesterday's wild spike. and charlie breaks it on the ceo who could be about to get left out in the cold. less than an hour to the closing bell on this thursday. let's start the "countdown." liz: you know what, we got to show you bitcoin right now. we are witnessing a bitcoin bruising at this hour. look at the cryptocurrency. it has now plunged below $11,000, at $10,958. why does that matter? remember it was exactly at this time yesterday that the crypto coin of record jumped to an 18-month high of nearly $14,000 per coin but then hours later, after the market had closed, bitcoin started to fall and then it plunged more than 1,800 within ten minutes. so that is neck-snapping. it caused the crypto exchange coin base to crash.
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you can see here's the three-month chart. maybe if we showed you that, here's the one-year picture. it's kind of a hangover from the bitcoin sugar rush that best shows what can be the parabolic nature of the asset in up and down directions. what we are seeing at this hour is relatively placid world of stocks compared to bitcoin. it's all over the place at the moment but right now we are down 12%. let's look at the markets. small cap russell 2000 and dow transports plowing up the biggest returns in this final hour of trade, especially as it pertains to percentage gains here. the russell 2000 up 1.33%. same with the dow transports. the dow is carving out decent gains, up about 25 points, but it would be much higher as our brightest guy in the newsroom, charlie brady, says if it weren't for boeing. boeing itself is shaving more than 50 points off the dow at this hour. this story broke on our show right before the close yesterday. shares of boeing continued then to lose altitude this morning
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and throughout the session. we are down about 2% after the federal aviation administration found a new flaw in the 737 max jet which could very well delay the aircraft's return to service. more than the delays we have already seen, right? the aircraft of course was grounded after two fatal crashes earlier this year. the fallout, pretty much felt today as airlines extend their cancellations of the 737 max flights. which ones? we are looking at southwest which is flat on the session. it says it will remove the max from its flying schedule now until october 1st. united, which at this moment is up 1%, has extended its cancellations into september. american, which right now is up 2%, is quote, monitoring the situation. let's get to investors who are taking a bite out of con-agra stock, the top loser on the s&p 500, down 10.66%. the packaged foods maker missed on earnings and sales as lower prices and aggressive store promotions by rivals ate into
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the demand of the company's marie callender -- they make the best pies. why would that eat into them? that lemon pie is phenomenal. they also own hunt's and chef boyardee. right now, they are at $25.83 per share. let's get to the g20 and the u.s. and china. are they using technology company huawei as a weapon against each other? that's what the "wall street journal" is reporting at this hour. chinese president xi jinping is apparently, according to the "journal," prepared with a list of demands he needs before he will sign on and agree to what the americans want in a trade deal. what's on the list? well, the u.s. ending its ban or blacklisting of huawei. the united states has said no american company can be doing business, can be selling to or
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buying from huawei. but this is actually not the first time that a telecom or technology company has come between the two nations. remember last may, president trump placed a similar ban on a company called zte after it admitted to violating u.s. trade sanctions. there's a problem president trump took on with the help of xi jinping, and the president tweeted a bit into, it was very short moment, into the blacklisting of zte, president xi of china and i are working together to give massive chinese phone company zte a way to get back into business fast. quote, too many jobs in china lost. commerce department has been instructed to get it done. the president also attacked zte verbally saying it hurts american companies. listen. >> a very large phone company but it's also a phone company that buys a large portion of its
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parts that make up these phones that are sold all over the world from american companies. so when you do that, you're really hurting american companies also. liz: that ended really quickly after the president first slapped that sort of ban on zte, because he said and perhaps very much rightly so, that it was hurting not just chinese companies but u.s. companies. a month later, zte settled with the u.s. government for $1.4 billion, a situation that really is echoing right now. let us head right now to osaka live where edward lawrence is on top of all the activity, and is huawei now sort of that sword of damocles or the machete that will be used by one side or the other? reporter: it's certainly something that everyone is talking about here in osaka, japan, including the world leaders. i do want to show you one of the headlines from the newspaper. i know you love newspapers here. you can see here they are still preoccupied here with what is going on in the city itself. this says osaka stopped, talking
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about the lockdown the city is on for security reasons. this one says the g20 will limit traffic, talking about the road closures they are having here in osaka. trade talks will go to the highest level here in japan for president donald trump. he plans on talking trade with all nine world leaders that he's going to speak with here at the g20 summit. a source close to the trade talks between the u.s. and china says the two delegations will meet friday, today, friday, in a few hours in japan, one day ahead of when president donald trump meets president xi jinping. now, the u.s. wants to gauge the chinese are willing to come back to the table, putting everything back in that u.s. trade representative robert lighthizer says they deleted from the trade deal. the chinese want the u.s. to back off the reliance or overreliance, as they call it, on binding language in the agreement. white house economic adviser larry kudlow, optimistic. >> the two leaders are going to meet on saturday. i think about midday. and no preconditions have been
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discussed at all. president trump looks forward to the meeting. we believe it's quite possible if the meeting goes well that the chinese will come back to the negotiating table and we might be able to pick up where we left off in may, where we completed roughly 90% of what could be a good agreement. reporter: he said no preconditions there. the chinese believe that there were preconditions in order to get the meeting. they say that the president was going to hold off on new additional tariffs in order to have this meeting with president xi jinping. the chinese also saying lifting sanctions on huawei would be part of a greater deal, and the reason chinese sources are saying that that should be in the greater deal is because president donald trump brought it up himself, saying it could be included as part of a deal. liz? liz: edward lawrence, thank you very much. with the dow up 20 points, how quickly did june go by, right? the last trading day of june is tomorrow. it's been a really nice run for the bulls, with the dow, s&p and
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nasdaq on pace for their best month since january but come monday, the first day of july, could be a wild one on wall street, particularly because of what edward just talked about. the headliner event that happens this saturday in osaka, japan when presidents trump and xi meet face-to-face to try to work out trade issues man-to-man. investors glued to their phones and televisions and hopefully fox business, hoping for the best. prepping for the worst. what are our traders doing that perhaps you could follow? sarge, start with you. you have all the angles covered. >> okay. this is the ball game. tomorrow, you have the russell rebalance, you have the end of the half, you have the end of the quarter. you will have big volume and markets will move around a little. you have to think what are the chinese going to buy if there was a favorable outcome on saturday? they will buy construction equipment, cpus, cpus and aircraft. so my short term trade which i am putting this trade on already, is short term
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caterpillar, and i don't want to go into boeing even though it's aircraft because i don't trust boeing right now. i'm replacing them in my trade with apple because apple is highly exposed to apple. to hedge this trade, you want to have protection against yields if they get crushed. i'm increasing my exposure across all three classes of debt and i'm upping my utilities, doubling my stake in southern, a high-yielding utility that pays a nice dividend. i can go on. i can talk about the cold war if you want. i maintain lockheed, mercury, united technologies, you need those. but that's not part of this trade. those are investments. liz: all right. excellent. excellent explaining. phil, you are up at bat. you hope for the best, that would be a trade deal, but you prepare for the worst. what are your let's hope for the best picks and prepare for the worst picks? >> i think commodities are your play. i think you can play it both ways at this point, because you have so many unanswered questions. this can have a major impact across this entire room down
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here where all these commodities are traded. for example, grain markets, for example, you know, how this could play out could have a big impact, you know, what is china going to do on the pork issue, are they going -- they are going to have to import a lot of pork but they are promising a lot more. i thought what was interesting is that china threw back, president xi, this huawei bargaining chip which president trump actually said that that could be on the table. so this might be a way for china to come back to the negotiation, save face, say hey, president trump is giving us something and that way they can set the stage for a big deal. that's what i'm betting on right now. liz: okay. so chris, you know, obviously phil is pretty positive and optimistic about a deal, but we've got to be prepared for both sides. how are you doing that? >> well, i think that it's all going to really unfold sunday night when the electronic markets turn back on. that's going to be key. then we will trade through the night, then open up regularly on
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monday. but i'd say you can play it both ways. we are going to have some sort of an explosive move. i don't know if it's going to be higher or lower. you do a straddle. buy a call, one of them will go worthless, one could make you some money and the markets i would look at would be soybeans and you have to look at cotton and the third one, a little more esoteric, copper. those are going to be very sensitive. they call them the canary in the coal mine trades. you just wait for the breakout. i wish i knew which way we were going to go but sunday night, it's going to be interesting. liz: you and me both, right? we wish we knew. folks, whatever you do, stay tuned to fox business.com because the headlines will start to come through certainly saturday and then sunday and when the markets overseas open sunday night. we are off to the races. great to see all of you. you come and you bring it and you win it. thanks so much. investors taking a long walk off a short pier. with the closing bell ringing in 47 minutes and the dow up about 26 points, the nasdaq better by 57, pier one imports tumbling in
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this final hour of trade after the home furnishing retailer announced first quarter comparable sales fell 13.5%. why? lower store traffic and lower customer spending averages. pier one down about 44% already this year. it's getting hit another 6% right now to $8.24. up next, 2020 candidates front and center at last night's democratic debate, sharing their views on the trump economy and how they plan to alter it, change it, who knows, fix it. connell mcshane was there for the fireworks. what we are going to do is take you live to connell in miami for not only a recap, but perhaps just as importantly, a preview of the showdown between vice president joe biden and senator bernie sanders tonight. "countdown" is coming right back. my experience with usaa
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♪ at comcast, we didn't build the nation's largest gig-speed network just to make businesses run faster. we built it to help them go beyond. because beyond risk... welcome to the neighborhood, guys. there is reward. ♪ ♪ beyond work and life... who else could he be? there is the moment. beyond technology... there is human ingenuity. ♪ ♪ every day, comcast business is helping businesses go beyond the expected, to do the extraordinary.
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take your business beyond. this is actually an economy that's hurting small businesses and not allowing them to compete. >> we've had an industrial policy in the united states for decades now and it's basically been let giant corporations do whatever they want to do. giant corporations have exactly one loyalty, and that is to profit. >> for all the american citizens out there who feel you're falling behind and feel the
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american dream's not working for you, the immigrants didn't do that to you. the big corporations did that to you. liz: big business and the wealthy taking some pretty significant heat during last night's first democratic presidential debate among 2020 candidates, but with last night's debate in the rear view mirror, top contenders including former vice president joe biden, senator kamala harris and senator bernie sanders are gearing up right now for tonight's highly anticipated round two of the democratic debate. what sort of fireworks might voters see? to connell mcshane live at the scene of the debate in miami, florida. connell, this is always an interesting point. how did the lesser-known names with more to prove, how did they make an impression last night? reporter: i think a few distinguished themselves. maybe that's instructive in how we watch tonight as well. we were having a conversation almost exactly 24 hours ago, as we talked in previewing last night's debate, almost exclusively about senator elizabeth warren.
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she was the frontrunner in the polls coming in last night. we were talking about how she might do. then as the debate went on and certainly the spin room afterwards and waking up looking at the twitter trends and whathave you this morning was julian castro getting a lot of attention, the former housing and urban development secretary. almost nobody was talking about him beforehand but he went after beto o'rourke on whether border crossings should be decriminalized. again, got himself a lot of attention. to that point about trends, i will show you a couple of maps. maybe they are interesting, maybe not. let's take a look. we will keep this in mind tonight as well. on google, before the debate last night, the most searched-for candidate, elizabeth warren, to our earlier point, we were talking about her as well, cory booker, beto o'rourke and tulsi gabbard. during the debate, actuatulsi gd moved up on the list. those were the search results during the debate. i know you pointed out there were a number of attacks on big business and the wealthy and some of that got started from the so-called wing of the stage.
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mayor de blasio last night. let's see if there's a similar dynamic tonight, where someone starts those types of debates and the frontrunners have to pick up on it. liz: so now let's get to those frontrunners. joe biden, bernie sanders. i would imagine they are loading up on the messages they want to get up to voters. what is the chatter on the ground or perhaps in political media, i love the spin room stuff because that's where you get kind of the scoop, but what's the chatter there about who's got the most to prove? reporter: well, the big debate i think was what type of approach do we see from joe biden. there's no doubt the former vice president waiting comfortably in the polls, up in the 30s where bernie sanders in second place is in the mid teens. how does biden come after it tonight. we saw in his twitter account an example of what he would like to talk about and that's the supreme court. vice president biden tweeting today the supreme court refused to stop politicians rigging our democracy by writing election
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rules for their own benefit, it couldn't have happened without justices put there by donald trump and republicans. another reason why democrats must take back the white house in 2020. he's talking about the gerrymandering case there. also tweeted after that about the citizenship question on the census. that's what he would like to talk about. as the debate goes o n he will e standing right next to bernie sanders. on his other side will be mayor pete buttigieg from indiana. are there other candidates onstage who try to drag the former vice president to the left and how far to the left, particularly on economic issues, is he willing to go. open question heading into tonight. we'll see. liz: connell, thank you. you are right there where it's happening. we will stay tuned to "after the bell." at the top of the hour, connell is back with way more detail on day two of the democratic presidential debates and he will also take a close look at the miami real estate market. remember during the financial crisis, it was a massive bust. where is it now? connell and melissa have it all
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"after the bell". one issue some critics say did not get enough time in last night's debate, climate change. whether you agree or disagree, up next, we are going to introduce you to a company that isn't waiting around for candidates or the federal government to pay attention. this company is using capitalism of all things, ingenuity and entrepreneurship to solve the problem. we introduce you to the energy company that says it has figured out a way to use fossil fuels to create electricity, but without any harmful co2 emissions. it's a fox business exclusive. closing bell ringing in 37 minutes. walgreens leading the dow 30 right now. walgreens boost third quarter profits and revenue, beat estimates on higher pharma sales. yep. we've got wba up $2.40 to $54.77. "countdown" will be right back. stay with us. i can't tell you who i am or what i witnessed, but i can tell you liberty mutual customized my
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liz: so we were talking about how some people are upset that climate change didn't get enough attention during last night's debate, particularly the candidate who has made it the key tenet of his campaign. here's what washington governor jay inslee told fox news this morning. >> in a two-hour debate we had exactly 7:27 to talk about the thing that 25 years from now, people are going to look back at last night and say what were you thinking, why were you not focusing on this issue. liz: well, look, some are saying now it really is a global issue. for europe, here's a quote, hell is coming. that's what one spanish meteorologist tweeted about the record heat wave hitting the continent straight in the face right now. there's an area in france that saw a record high of 105.6 degrees fahrenheit and the country could see temperatures as high as 110 degrees by
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tomorrow. that is very unusual. public health warnings also in effect in belgium, italy and switzerland. while some governments are slow to act, some businesses are saying wait a minute, wait a minute, we can do this and make money. netpower is a partnership of four energy and infrastructure companies, including eight rivers capital, which has developed the world's first emissions-free natural gas powered plant currently being demonstrated at a facility in texas that promises 100% carbon capture. eight rivers ceo and president bill brown, a businessman who is passionate about this, joins us from the aspen ideas festival, where he will be on a climate change panel front and center tomorrow. let me first get your gut reaction about last night's debate. do you think that it should have had more of a central discussion here? >> absolutely. i think the majority of americans think that climate change is a problem. one of the problems when people get too deep into climate change
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is they start coming up with their own variety of solutions for it. the fact is, we just simply need to focus on solving the problem. we need to focus on the destination. any way we get there is a great way. liz: okay. you're on the way or so you say you are. let's hear about your 100% carbon capture, meaning no emissions, power plant that you have developed that you say uses fossil fuels, natural gas, but no release of emissions. >> no release of emissions. we basically just started with a clean sheet of paper. we thought what happens if we just focused on capturing the co2, the primary goal, and producing electricity as a secondary goal. when we did that, we used pretty much the same lego blocks but we put them together differently. the very core of what we did is we got rid of something really, really old and that's coal steam, and we are using carbon dioxide instead to drive our
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turbine. we turned the problem into the solution. liz: it's called the allen cycle. we have an animation right now on the screen. we find this really interesting, because most importantly as a business network, we talk about the green as in the green new deal but we also talk about green as in money. tell us about the cost because part of the problem with a lot of these efforts in their early stages is they are expensive, whether it's solar or whathave you. >> absolutely. the problem is that most solutions to problems are incremental. they just start off on adding something on to a system, making it more expensive. as i said, we started with a clean sheet of paper. our goal was not only to make it clean, but also cheaper. we wanted to make it so cheap to go green that you wouldn't think about going dirty. that way, we combined two greens into one. green power and making it cheap. liz: okay, but is it cheaper?
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can you say -- >> it is cheaper. liz: my bill or my business's bill is going to go down? >> your bills will go down. 2.1 cents per kilowatt hour, aided by the fact we also sell some other generated gases, but overall, this thing is going to be in the 2 cent range. liz: have you sold any of these systems yet? >> we've got one working down in houston, texas right now. we're working on sites all around the world. new zealand, abu dhabi, london, all over the united states. liz: well, you know what, those are some big oil areas. i'm so interested to see how this plays out, because it seems like you are apolitical. you are more of a businessman who is trying to make this work. >> absolutely. one thing i learned, with all due respect to politicians, they do what they do, i do what i do. what i do is i figure out how to
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make money and give people what they want. liz: you say you are doing it with net power and the allen cycle. we will be watching this. thank you so much. >> thanks, liz. i really appreciate your time. liz: bill brown of eight rivers. netpower is not the only one causing a ruckus at the aspen ideas festival. the dow has just turned negative, down about eight points, s&p still up 10, facebook's mark zuckerberg swinging the verbal sledgehammer at those pushing to break up the social media giant. just as his company releases its very first report on policing its site. nobody knows more about the issues facing silicon valley than a guy who swings the hammer to defend all the tech names there, both big and small. he's here in a fox business exclusive on why he thinks breaking up big tech is hard to do. "countdown" is coming right back. -driverless cars... -all ground personnel...
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liz: dueling breaking news stories hitting the tape right now. at the top of the hour, the house of representatives will begin to debate the revamped border bill that has already been passed by the senate. now, we just heard from house speaker nancy pelosi, who said moments ago that the u.s. house of representatives will reluctantly pass the senate border aid bill, saying quote, at the end of the day, we have to make sure that the resources needed to protect the children are available, in order to get resources to the children most quickly we will reluctantly pass the senate bill. meanwhile, still on the subject of immigration and the border, we have the breaking news out of bank of america.
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bank of america is now cutting its business ties with detention centers and private pensions -- i'm sorry, private prisons, rather, making it one of the very last big wall street bankers to cut ties amid president trump's immigration policies. bank of america is up right now 1%. i can kind of guess why politically, saying that you want to break up the company feels nice, right. it's like okay, there are issues, let's just take a big hammer and go do it. but i think the reality is we want to be -- we want to make sure the things that we do actually address the problem. liz: facebook's mark zuckerberg taking his own sledgehammer to the idea of breaking up his company and the other 800 pound tech gorillas of silicon valley and beyond. the social media ceo pushed back strongly at the aspen ideas festival yesterday in colorado. he also warns that facebook alone cannot stop russian election interference by itself. he called on the u.s. government
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to intervene and help. now, facebook just released this, what i have in my hand. this is a 44-page global feedback report compiled by its oversight board for content decisions. after speaking with and reviewing comments from roughly, i don't know, about 2,000 people about personal data, the company announced today it will clarify how facebook makes money and the rights users have to their own content but will that all be enough to silence users and members from both sides of the aisle who are screaming for the breakup of facebook? let's bring in carl guardino from the silicon valley leadership group, he represents about 400 of silicon valley's most respected employers. >> a little shy of that. good to see you, liz. liz: good to see you. what do you think, carl? will this report which some are calling facebook's federalist papers, will it silence, you know, the mob out there that says break up these companies? >> well, it really depends on if we are trying to make headlines
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or headways. we appreciate that elected officials running for president need to make headlines. american innovators and entrepreneurs are going to stay focused on making headway on innovation, job creation and benefiting america's economy. so three quick points on antitrust, liz. first, for decades, antitrust law in america has focused rightfully on whether it is benefiting through costs you and me as consumers, not arbitrary decisions on the side of a company. second, we both know that the economic landfill is littered with seemingly dominant companies one day who are on the trash heap of economic history the next day. liz: you could name off a whole bunch of these. >> oh, my goodness, yes. unless consumers are being hurt,
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politicians should let competition and consumers decide whether companies rise or fall, succeed or fail. finally, if the reward for business success in america is the destruction of a company, determined through political campaigns, rather than what customers want, that is a chilling message to entrepreneurs in america. so harsh words or hard work. we understand elected officials will use harsh words in a campaign. we are going to stay focused on the hard work of creating jobs through innovation. liz: i don't think liz warren is going to be just words. i think she really wants to go after these companies and quite frankly, president trump has been upset with some of the big technology and social media companies like twitter, saying that they don't give enough voice to conservative voices that are out there. you are coming at it -- you are getting arrows from both sides here.
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>> we appreciate that it is now bipartisan to attack innovation in america. but we will live through that. we are going to stay focused on what's good for american consumers and customers, what's good for our employees and what's good for our economy. liz: i need to quickly ask you about what is now happening in osaka, japan at the g20. that would be the trade talk that is gearing up tomorrow -- saturday, rather, between president trump and xi jinping of china. huawei is a reality when it comes to both sides using it in one way or the other, whether it's blacklisting or holding up the trade deal. we have a lot of companies from the valley and beyond who do a lot of business with huawei. what's going to happen here when it comes to using chinese tech companies as a bargaining chip? >> two quick points. first, we both know that carrots are a boomerang that are aimed at an opponent but come back and smack you right in the head and
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hurt american consumers and whether that's the cost of technology goods like our laptops and our cell phones, or everyday products from food to refrigerators, that is not good for you and i. it's a tax on american consumers. second, when it comes to huawei, two quick items. you're right, there are so many customers of huawei throughout silicon valley and america, that these are hard to untangle and we need a surgeon's scalpel rather than a butcher's meat hook when we are looking at these decisions. liz: carl, good to see you. thank you very much for your perspective. see you next time. >> i look forward to it, liz. liz: c-suite casting call? with the closing bell ringing in about 16 minutes, coming up, the dow for a second was negative. did you see that? down about six points. it's back up again. nothing to worry about here for the bulls at 22 points. charlie gasparino on why this
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man, joe eye nel lianniello, ma keeping the role for longer than first thought. charlie breaks it next on "countdown." let me break something about charlie gasparino. did you know that his dad drove a cab back in the day just to put charlie through school? you are going to find all of this out on my new podcast, everyone talks to liz. it's about charlie's and my childhoods, the different paths we both took to the top here at fox business. check it out. drive safely. but allstate helps you. with drivewise. feedback that helps you drive safer. and that can lower your cost now that you know the truth... are you in good hands?
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a cockroach can survive heresubmerged ttle guy. underwater for 30 minutes. wow. yeah. not getting in today. terminix. defenders of home.
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liz: you know the rolling stone song "you can't always get what you want but you get what you need"? cbs ceo joe ianiello may not get the top job in a combined cbs/viacom but could still be a key player in the merger goes
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through. charlie gasparino breaking it right now. >> we are hearing from people close to the board of directors of both companies who are saying listen, they're looking at this as likely to happen. i'm not saying it's definitely going to happen but they are now in deal talks with bankers as reported exclusively yesterday, people have been following our coverage. we understand this thing could come down possibly in the next month, again, snags are always hit and it elongates deal discussions. it may break down as it has in the past. this is at least twice they've tried this. but if it does happen, it looks like bob bakish becomes the ceo and the odd man out who might not be out is joe eianiello. why bob bakish? his relationship with shari redstone. ianiello was considered too close to les moonves. that doesn't mean this guy is going to go. we are getting this from people close to the board who are saying they would like him to be part of the transition because
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of his financial acumen. there's probably no better financial m & a guy in the media space than this guy. what it really came down to, les moonves when he was there, before he got ousted over sexual misconduct allegations, was kind of like the talent guy. he understood talent, understood programming. who made the numbers work for so long? it was ianiello. he was a tough numbers cruncher. he's got good relationships with wall street. what i'm hearing from the board, i'm not saying -- listen, it's going to be up to him to some extent. he does have a contract that runs just through the end of the year. okay? it's a lucrative contract. they would like him to stay for that transition to make this thing work and they are going to combine the companies and here's the other thing people are talking about. he could play a key role if they eventually sell the merged companies. everybody i talk to in media believes the end game of shari redstone, who is now controlling national amusements, the company that controls both of them, both viacom and cbs, is going to be
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put together, that her end game is to sell the combined entity at some point, possibly to some tech outfit that's looking to build up content. you know they all are. to be quite honest, they haven't really gone out and bought anything. they have been creating their own, amazon and apple and netflix. you name it. but clearly, what i'm hearing, her end game is to sell it. the m & a guy to do that would be ianello. i'm just saying, he may leave because there's a good chance he doesn't get the job. liz: the stock is spiking right now. >> people know he's good at this. the end game for both of these companies is to sell it. if you are going to do that, bob bakish is a very capable ceo. if you notice, after taking over for viacom, 2016, he worked that place. he improved that place. capable ceo, he deserves the job. but in terms of dealing with wall street and m & a, i'm
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telling you, ianiello is one tough s.o.b. i talk to people who still have whip marks on fwhastheir back f dealing with this guy. i'm just telling you. he is a tough guy. this is what i'm hearing from peop people. we should point out these situations are fluid. those are the two bankers, morgan stanley is representing viacom, and there are other bankers involved. but again, fluid situation. from what i hear, there are a lot of people who want ianiello in the mix to make this thing work and possibly sell the combined entity. liz: you called him a tough s.o.b. this guy is a tough s.o.b. i say that in the best of ways. if you want to know -- >> what was dr. evil's cat's name? liz: get off the dr. evil thing. i'm trying to promote you and your dramatic story. check out the podcast everyone talks to liz. it's on apple podcasts.
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um-hum. >> by the way, i have gotten such great feedback on that. liz: already. >> by the way, mr. bigglesworth. just so you know. dr. evil's cat. liz: thank you. the dow is up four points now. we are coming right back. when the going gets tough, the tough start buying. so says today's "countdown" closer. what he's buying now. it all started under this buttonwood tree. twenty-four people came together to sign an agreement that created the stock exchange. just the right elements coming together. it started when scores more people came together, just down the street and traded bonds that helped pay for the revolution, and the nation it created. it started in an office on the corner where the right people witnessed the telegraph and brought information and humanity together forever. it started with the markets,
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bringing together steel and buildings and silicon and medicine and rockets. we believe the possibilities of life and investing are greater when we come together. it's why for eighty years we've connected ideas with technology, data with inspiration, investors with solutions. so that every day together, it all starts again. ♪ ♪ there are roadside attractions. and then there's our world-famous on-road attraction. . .
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♪ liz: breaking news involving boeing with the closing bell ringing in 2 1/2 minutes. this is a two-day picture. remember the yesterday the faa still sees some risks in the 737 max jet. today we got this information, "the wall street journal" is reporting that boeing will pay settlements to the families of those who were killed in the two crashes that involved those same
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737 max jets, one last year, one the beginning part of this year. the march 11th one was ethiopia and several hundred people killed in both. we're watching that story. the dow is hovering above the flat line, boeing knocking a good portions of the dow's gains with it down 3%. boeing earlier was shaving 50 points off the dow which is two points to the upside right now. federal express, cruise ship giant carnival are two perfect examples of companies going through hard times, even though they are great companies. both are dealing with fallout over trade and sanctions. but our "countdown" closer, brent wilsey, says bad times make for good stock buys wilsey asset manager founder and president is here. you don't buy great companies going through great times because they're expensive at that point, right? >> that's correct, liz. that is where people lose money.
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what we like to do find companies with problems that we call problems that we could have something good down the road 12, 24 months. talk about federal express. look what is going on there, by 2026, e-commerce will double. don't you want to be part of that to get fedex part of on sale levels, dividend 1.7%. they only use 5%er to pay that out. we look to may of 2020. earnings per share on average about $14.82. sales price liz of $244. i'm looking for 50% potential gain of fedex. what a great time to get into this country. liz: warren buffett says you don't buy the quarterback that just leaves the field after the super bowl. buy the guy in the sling in hospital because he will get better, right? >> that's correct. liz: talk how markets are on tenterhooks in the trade
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meeting. >> what was that again? liz: i'm sorry we're out of time. [closing bell rings] sorry we couldn't get his answer. there is the closing bell. the dow is down nine points. s&p and nasdaq holding on to gains. connell mcshane is live from miami and melissa francis. melissa: stocks searching for direction ahead of the g20. major averages mixed on u.s. china trade optimism for now. the dow fighting for gains at the close, ending down about 13 points. s&p 500, tech-heavy nasdaq ending in positive territory. the nasdaq extending gains for the second day in a row. i'm melissa francis in new york. this is "after the bell." connell mcshaken is live in miami ahead of night two of the democratic debate, connell. connell: we're ready to go once again, melissa, honing in on voters care about here in miami. first here is what is new at th

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