tv After the Bell FOX Business August 8, 2019 4:00pm-5:00pm EDT
[closing bell rings] we hit another new high on the dow, 373 points to the upside. we're slightly off it. all green lights to the close. major indices higher after surging right here in the all important final hour of trade. that will do it for "the claman countdown." ashley: what a finish. uber, the world's largest ride share company, you know it, reporting in a few minutes. second report from the company. it could also impact your wallet tomorrow. get back to stocks with much more positive day. investors decide to jump into the markets. ending in the green on easy global growth fears. the dow ending up 375 points. what a turn around. i'm ashley webster, in for you today for connell mcshane. melissa: i'm melissa francis. this is "after the bell." the s&p 500, tech-heavy nasdaq ending in positive territory the third day in a row. more on big market movers, but
first here is what is brand new at this hour. wooing the heartland. democratic 2020 candidates in iowa today, making their pitch to americans including farmers who have been hit very hard by the trade war. we're live in des moines taking the pulse of voters. white house hopeful, new york city mayor, bill de blasio calling for corporations to pay their fair share. where have i heard that before? vowing to tax the hell out of the wealthy, what he said during a heated interview with fox news's sean hannity. the highlights you have to see. outrage on the left, outrage a growing boycott for a fundraiser for president trump. outrage on both sides of the oil. ashley: fox business team coverage and edward lawrence from the white house, phil flynn from the cme and jackie deangelis from the new york stock exchange. we'll begin with the latest from
the white house and edward. reporter: china actually rebounded in exports, 3.3%, growing from june to july. that was good news for the market. the deficit with the united states shrank about $2 billion. 1.95 billion. the china's positive news, as the country shows signs the central bank will continue to devalue its currency. the bank sent reference point of the u.n. for lower each day of the trading day of august. now with no indication that trend will slow down. white house economic advisor peter navarro downplayed the importance of this. >> the yuan has gone down 12%. we put on terrorist at 10%. the yuan goes down 12%. basically they're trying to offset the effect of the tariffs but it does have ripple effects but this is not, this is not something that's threatening to the global economy. reporter: still as the dollar strengthens, other countries
possibly could cut interest rates because of what china's doing. that in turn makes our products more expensive to others overseas. now president donald trump says he does not want a stronger dollar, in fact tweeting this about the federal reserve. they have called it wrong every step of the way. we are still winning. can you imagine what would happen if they actually called it right? he is frustrated with the lack of progress over the trade talks. trade experts say that the legal language in the trade agreement spooked the chinese. >> their main problem they apparently thought this could be an agreement in principle and it wouldn't be legally binding in courts inside of china or inside america. bob lighthizer explained to them, no, this is legally binding. we'll have an enforcement mechanism. you're going to get tariffs, other measures against you if you violate it. that seems to have shocked the chinese. reporter: experts say looks like a prolonged dispute. our trade sources say chinese not only expect 10% tariffs to
go on, but those 10%, they're prepared for them going to 25%. back to you guys. ashley: edward, thank you very much. let's bring in today's market panel, lenore hawkins, thematica, and paul dietrich. thank you both for being here. lenore, let me begin with you. what happened the last 24 hours? yesterday we were down 600 points. almost 1000-point turnaround. are we focus on the chinese yuan? >> that is really what is doing it. the market, i love it when we talk to the market, as if it is some guy to say how are you doing today? the market participant today are feeling a bit of relief the renminbi, the chinese yuan is not crashing as it was expected. but it looks like they will use this to help fight the trade war. ashley: paul, let me bring you in. investors have to be queasy, not
only volatile, very fragile, each headline sparking another fall or perhaps a rise. how do you play this as an investor? >> i think you have to look at effects -- ashley: i'm sorry, paul. breaking news. uber reporting second quarter results. let's look straight to susan li for numbers. susan: loss bigger than expected. $4.72. analysts were looking for a loss of $3.12 was the estimate. as for revenue, also a miss here as well. we're calling it 3.16 billion. 1.66 billion. let's round it up to 3.71 billion. analysts were looking for 3.36 billion. speaking to uber. the reason they missed here i got off the phone, because the analysts did not anticipate the ipo rewards that they gave to their drivers. so in this earnings report, uber says they have included
$298 million driver appreciation award. that was made in connection with the ipo which they also announced as well. what that is, they doled out stock compensation based on tenure to those drivers that have been with uber for a long time. still some pretty strong. pretty strong bookings. they made 15.75 billion. the growth rate is slowing. we're looking at 31% growth. we saw close to 40% over the past few quarters this is something i'm sure that analysts and market will take another look at as well. as for drivers and trips, still pretty strong numbers out there. i'm still trying to sift through this to look at other business revenues as well. that includes uber eats. ashley: yes. >> susan: you know they shipped about $10 billion in food orders over the past year. i will hand it back to you for now but i will keep looking through this report card. melissa: let me ad a little cover, a little color as well. uber eats revenue at
595 million, up 72%. ashley: wow. melissa: for uber-eats. also another stat folks were looking for in july, the uber platform reached over 100 million in monthly active platform consumers for the first time, hitting that 100 million mark. ashley: let's get back to the panel. paul, so sorry i enter rapted you there. just as i ask you a question the uber results come out. let's talk about uber if we can. big miss on earnings. big miss on revenue. they're losing a ton of money. is this an attractive investment? >> well in the long run the answer is yes. they're using the amazon model. you know, it took amazon an awfully long time to make any money. they're putting all of their money into basically expanding services, expanding riders and they do have, because they're cheaper than most of the taxi
services, and they have been competing with lyft, if they, now that lyft and uber are both publicly-traded companies at some point they will get a lot of pressure to increase revenues. they actually have the where with all to do that because they're underpricing the market in terms of the rides and they can still raise prices without, with still staying a little bit under the taxi companies. melissa: i don't know. lenore, let me ask you, i disagree with that. i don't know how, the reason why uber is so popular is because it is so cheap. the moment that they raise their prices, all of sudden you have a whole bunch of other options. so the only reason why it is so dominant is because they're willing to lose money on all of thisthese rides. when they try to leverage it, have a higher price, lyft comes at you with a coupon, you get them right back down. lenore, i don't know how they become the amazon because it doesn't seem like, the thing
that makes them attractive is the low price that makes them lose money. >> exactly. you have got to decide whether this is the amazon model or more for those who remember the webvan model. melissa: right. >> as a consumer i love these guys. i love the ability to have an app, anywhere i travel, theoretically i can go use it. the challenge is insane amount of money that they are spending to really blaze this trail. they're having to deal with unbelievable regulatory problems. for example, in italy where i spend the majority of my time, uber doesn't exist in any small towns. all you can get in major towns are uber black, using already professional drivers. just another way for them to compete. where will you have margin pressure? 2 doesn't exist. ireland, another place i spend a ton of time. uber in ireland barely exists. when you call uber, all you get is taxi? where is the moat? where will uber maintain the really big margin when it is becoming easier, easier with low
al area comp with an app that calls all local drivers. melissa: i loved webvan. i loved it right out of the gate. totally. >> i loved it as a consumer. not so much as investor. >> i disagree. you've got basically, if you're still under the taxi prices, no one's going to switch over to taxis. ashley: that's true. >> both lyft and uber are now -- melissa: they're really not under taxi prices in new york. we have to do some other earnings. go ahead. ashley: lenore, susan, paul, thank you. cbs reporting second quarter results. let's get down to jackie deangelis at new york stock exchange with the numbers. reporter: good afternoon to you. it was double beat here. $1.16 a share. that was higher than $1.12 expected. revenue 3.8 billion, up 10% year on year. higher than 3.71 billion
expected. cbs showing a good number on the top and bottom line. they said cbs all-access, showtime, fueled a 13% increase in affiliate prescription fees. people will focus on that. they said they're on track for 25 million subscribership by 2020. that is for the cbs all-access, showtime subscription. back to for now. ashley: the stock pretty much unchanged in after-hours for now. melissa: oil rebounding closing up 3%, snapping a three session losing streak. let's go to phil flynn for all details. phil? reporter: some people are calling it the saudi put, basically saudi arabia yesterday at the lows came out and said, oil prices at these levels were unacceptable. part of that is what the rally is about today. part of it is is the stock market coming back. those two factors bringing expectations demand will be strong, supplies will be tighter. we're getting details what saudis might do. they're warning customers, hey that oil you were expecting next
month, you might not get it. they're talking about sending empty tankers to the u.s., buy u.s. oil, store it to lower our inventories. even with a big rebound we've seen in the stock market, the apparent less fear about the global economy, gold prices held up pretty darn well. if you look at a lot of the bond market, the stock market, sure looked like confidence coming back, not so much for gold. part might be donald trump talking about the dollar. he is saying he doesn't like the dollar being that strong. you don't usually hear that from a u.s. president. gold traders are keying off that, the currency, talking down the dollar may be good for gold. we also saw bitcoin of course, it pulled back a little bit today as well. we're seeing some of that come back a little bit on concerns that the dollar might get talked down a bit by the president. melissa: phil flynn, thank you so much. ashley: all right. business backlash. the billionaire owner of
soulcycle and equinox under pressure for hosting a fund-raiser for president trump's re-election campaign. celebrities calling for a boycott of his businesses. so is this feud going too far? melissa: plus hitting a new low. robocallers targeting a new group of phone victims. it is putting our health facilities at risk. ashley: yikes! money in the wrong hands. new york city mayor bill de blasio sounding off about the minimum wage, policies he says hurt the middle class but is his bark bigger than his bite, and why that move could backfire on the 2020 stage. we are next. >> i say there is plenty of money in this world. there is plenty of money in this country. it is just in the wrong hands. >> how did it get there? >> because of federal policies took from working people and gave it to the 1%. >> okay. ♪ that a speaker is just a speaker. ♪
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ashley: breaking news. uber plunging on second quarter results. they lost more than five billion dollars in the quarter. let's get back to susan li with the latest. susan. susan: accounted for because of costs for their ipo, their recent ipo. in terms of path to profitability, looks like costs are coming down from uber. they don't say anything like we heard from lyft which help
buoyed the stock. they're looking peak losses in rear view mirror. we're not hearing that from uber. they have not moved forward that lock-up period lifted by a month. november 5th is when we expect the lock-up period to end. the driver appreciation award made in connection with the ipo, uber says accounts for larger than expected loss, and why the shares are down 12%. as you said looks like we have big numbers when it comes to monthly active platform users. growth rates of over 30%. cost in currency terms around 37%. pretty much the average we've seen the past few quarters. bring it down to gross levels around 31%. there are still concerns here in terms of slowing growth, the path to profitability, guys? ashley: key question, susan li, thank you very much. now this. >> i want working people to get their fair share. >> okay. >> should anyone working for less than $15 an hour? >> i don't like the minimum
wage. >> you don't think, you, you described your life as working man i respect that you didn't wash dishes people should get $15 an hour in today's economy. >> no. because it hurts kids that get jobs. we have record how youth unemployment. >> talk about people trying to support their family. you don't think folks who are working hard to get $15 minimum wage -- >> mr. mayor. >> come on. melissa: i don't know that the minimum wage when you're working at mcdonald's, you're supposed to be supporting your family. presidential candidate, new york city, bill de blasio going head-to-head with fox news's sean hannity. very owned david asman. the response to that, when you raise the minimum wage to $15, are you going to stand there and choose which million plus people get fired and which get the $15 minimum wage? de blasio would probably say yes, i would love to stand there to pick the one that gets fired, the one that gets the money. >> you and i talk about economics all the time. we're kind of geeks. it is one of the few things
cross over party lines. most economists, not all, certainly all conservative economist, even a lot of liberal economists agree if you raise the minimum wage, certainly double it, the way he want to, you lose jobs. it is not people that are supporting families. it is the entry level jobs, the people who learn how to do work, you know, people still living at home. kids and so forth. there is a question about taxes. you know, he kept, de blasio kept asking sean, why are the 1% paying less in taxes. well, hello, in fact since the tax reform, the percent of the total income taxes paid by the 1%ries ren from 37%, which is still a lot, 37% of all income taxes paid by the 1%, since the trump tax cuts it is now over 40%. 40% or more of all income taxes are paid by the top 1%. so if you want to soak the rich, if that is your goal in life as it is for de blasio, then you have to vote for trump instead
of obama. melissa: i mean i would ask him why the city is vacant? we have some empty storefronts and, how that has happened under his administration? why that would be good for the nation, and what his answer to that is? >> his answer is spend more money. that is his answer for everything. melissa: we're out of money. >> increased excepts of new york mayor's office by 30%, 30% more we're paying the city. and the services are not as good as they used to be. the streets are dirtier than they used to be. melissa: yeah. >> the subways are running less on time, more decrept it than they used to be. i think we're spending 30% more, getting 30% less. melissa: let's not talk about the billion he gave to his wife's charity. >> okay. there is that. melissa: let me ask you about stephen ross, billionaire owner of, well, he is the the founder of, related which is the owner of equinox and sole cycle.
he is not the guy that owns equinox and soulcycle. facing a massive backlash hosting a fund-raiser for president trump's 2020 campaign. they're saying irony, can sell soulcycle, cancel equinox. i met the ceo of soulcycle number of types, she is very liberal. she has nothing in common with president trump. her backer happens to be someone who supported the president, when they cancel soulcycle, cancel your membership, you're hurting this business that is super liberal. what do you make of this? >> one word, backlash. i think, all of the backlash to what this is, represents to what, joaquin castro did in terms of trying to shame all of these trump supporters, turn them into some kind of white supremacists whether they're all decent american citizens as far as away from white supremacist as castro is, it is failing. it is not only failing but creating a lot of discontent
among democrats, as you mentioned in this case, there are a lot of liberal democrat affiliated with equinox soulcycle. it is creating more problems for democrats than helping them. they will learn to regret it. melissa: yeah. i wonder, of course i have asked members of the rnc, have they seen a dip in donations. they say no. but that is what they would say. if they're a chilling effect, an owner, not worth it, i will not put my neck out? >> one person who is getting less income, and that is joaquin castro, because of the fact he had people that were giving money to him. they were also giving money to trump. they will not give to him anymore. four out of 44 people giving both to trump and castro. i bet castro will not get anymore money from these people. melissa: i didn't hear him volunteering giving money back to the donors? >> no. he will not give any in the
future. melissa: david, thank you. >> sure. melissa: top of the hour on the very fantastic bulls and bears. here is the lineup today. good to see you my friend. >> thank you. ashley: taking on silicon valley. the trump administration latest move to crack down on big tech, amid allegations against conservative views. we're live from the white house with the very latest. jeffrey epstein's latest legal fight, why the disgraced billionaire is charged with stealing millions of dollars from the owner of victoria secret. judge napolitano sounds off. there's a company that's talked to even more real people than me: jd power. 448,134 to be exact. they answered 410 questions in 8 categories about vehicle quality. and when they were done, chevy earned more j.d. power quality awards across cars, trucks and suvs than any other brand
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year in 2020. subject to regular aer to approves in the united states, europe and japan. melissa: white house reportedly taking considering executive action to tackle the alleged anti-conservative bias in silicon valley. this is according to "politico." fox business's blake burman live at the white house with the latest. blake? reporter: ran a story by the white house official. that official says the white house indeed exploring quote, all policy solutions what president trump sees as anti-conservative bias among social media companies that wouldn't rule out possibility of a executive order. fox has been told a draft executive order is bouncing around within the west wing. the president alluded to the possibility, when he hosted a gathering of conservative influencers nearly one month ago, for what the white house called a social media summit. >> today i'm directing my administration to he can more
all regulatory, legislative solutions to protect free speech and the free speech rights of all americans. we hope to see transtear currency, more accountability and more freedom. reporter: the president repeatedly expressed concerns with both google and twitter. republicans are questioning twitter's decision to lock the account associated with mitch mcconnell's re-election campaign. that account has essentially been frozen after it posted a profanity-laced video of protesters outside of the senator's home. according to twitter, posting video violated because it showed someone saying a physical threat. melissa? melissa: blake, thank you, interesting stuff. ashley: new kind of health crisis. a report revealing robocalls are overwhelming hospitals, tying up vital emergency phone lines. how does that mean for your
care. how hospitals are responding. that story coming up. melissa: counting down to the 2020 iowa caucus. democratic hopefuls pitching ideas at the iowa state fair. how are voters responding? karl rove, former president george w. bush senior advisor. ashley: bernie sanders trying out a new strategy for 2020, that may make you want to vote for him. no, it is not free wine. we'll have the story next. ♪-a delivery drones or the latest phones. $4.95. no matter what you trade, at fidelity it's just $4.95 per online u.s. equity trade. content on their endless quest, to nowhere.s, run hopelessly in their cage. but perhaps this year, a more exhilarating endeavor awaits.
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melissa: flashpoint. the trade war as president's tough talk on china heat up and two dozen predential candidates descend on the iowa state fair. how are voters feeling about the economy? hillary vaughn is on the ground in des moines so far. what have you eat so far? reporter: only had a diet coke. i have not tried any fried food i will fix immediately after the shot. melissa: good. reporter: we're talking to voters and in iowa, caucus-goers heard from two candidates, montana governor steve bullock and former vice president joe biden who stood on the soapbox for the first time pitching himself for president to caucus-goers in iowa. i got a chance to ask him today if the third time is the charm for him here in the hawkeye state? >> third time the charm for iowa. >> that will be up to iowans.
i feel good about it. reporter: there is a big issue here, melissa, that we talked to pork producers about. that is of course on going trade back and forth with china and the u.s. they have been hit hard by china's retaliatory tariffs. we talked to several of them, some of them who said that they stand by the president. they're willing to play the long game, but some are worried about the trickle effect it is having on their industries. >> we raised soybeans. we've done damage to the trade we won't get back. they have done damage to other countries and replace it. i applaud the idea what he is doing but it is really to me devastating to agriculture. >> farmers are used to playing the long game, used to rolling with that. so, but, yeah, i mean things that, we would like things to change. we would like, everybody, human nature like them to change as fast as we can. in terms of playing the long game, pig farmers are still on
the president's side. reporter: sew caucus-goers are not only judging what the candidates say on the stomach about important issues but judging what the candidates eat. you mentioned fried food, melissa i have not eaten any, they pay attention to what type of food candidates order. one type of food they are supposed to stay away from are corndogs. any other meat on a stick seems to be okay. melissa: [laughter]. save a corndog for me. i will individual. hillary vaughn, thank you. ashley: suddenly i'm hungry. joining us to react, i don't know that he is hungry, karl rove, former president george w. bush senior advisor, also a fox news contributor. karl, great to see you. listen, it is always amusing to me how the iowa state fair, presidential candidates descend on these poor folks and try to look presidential while also looking like they're for the ordinary folks. it's a difficult line to walk sometimes. they never look many could for
thible? >> well the more comfortable they look, the better off they are. look, it is not that they descend on them. the iowa fair-goers would be upset if they didn't come. iowans like to see their presidential candidates up close and personal, not up once, not twice, but half a dozen times. they like having candidates come to the fair. it's a great opportunity for them to see them up close and personal. ashley: is it an opportunity to say to the democrats, look what the president is doing to the poor farmers? this long drawn out fight with china is hurting you, to try to win votes on the back of that? >> that is the argument some are making but as you heard in the piece by your reporter, farmers appear throughout the midwest have a willingness to tolerate some amount of pain with the hope that we get a better trade picture vis-a-vis china. whether their patience runs out this year or next year, we don't know. but, it is not good times in the
farm country both because of weather. this year it has been awfully wet in the midwest. also because of chinese purchases of soybeans have dropped dramatically the last two years. remember iowa is a swing state. this is one of those states that donald trump won in 2016 after barack obama won it in 2012 and 2018 after george w. bush had won it in 2004 after losing it narrowly to al gore in 2000. so this is a state where even a small amount of change in public attitudes can matter a great deal. ashley: joe biden still appears to be the front-runner in the polls, even though perhaps numbers are tightening up a little bit. what does he need to do? didn't have a great couple debates up till now. do you still believe he is the guy to beat on the democrat side? >> look, he is a weak front-runner. he is sitting there in the low 30s. you have 20 some odd candidates. the field is chopped up pretty well. the key will be who has the best
ground game in iowa. then who gets a magic moment that between that imagine mick moment and their ground came, they can take advantage of the magic moment. barack obama was sitting there well behind hillary clinton, in 2007, the jackson jefferson dinner i believe it was early december, late november of 2007, gave a heck of a speech. caught on fire. had the ground game to take advantage of it, to line people up to be at the caucuses to support him. and dealt hillary clinton an upset in the iowa caucuses. went on to a long extended contest that ultimately made him the nominee of the democratic party. we don't know exactly who has that kind of a ground game yet. we certainly don't know if they will have the magic moment come along but everyone is staffed up, and working hard to create that kind of organization and hoping for that kind of moment. ashley: donald trump famously landed his private helicopter at the state fair. he gave kids rides. they loved him for that.
>> absolutely. ashley: karl rove, thank you so much. >> be sure to get one of the fried oreos. ashley: now we're talking. ooh, baby. melissa: i want a fried twinkie. ashley: fried anything. melissa: good idea. jeffrey epstein under fire. the financeer facing a new costly accusation, this time from a retail billionaire behind victoria secret. we'll talk about the legal fallout. health crisis sweeping the nation. a concerning new investigation that links seizures to vaping. why the fda is sounding the alarm next. ♪ and most of that debt is actually from credit cards. it's just not right. but with sofi, you can get your credit cards right - by consolidating your credit card debt into one monthly payment. you can get your interest rate right - by locking in a fixed low rate today. and you can get your money right. with sofi.
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ashley: sounding the alarm on a health crisis. the fda investigating reported 1267 -- 127 cases seizures that may have been caused by vaping. health risks are noticeable even after a few puffs of the device, or even up to a day after the product was last used. melissa: a new twist in the case of jeffrey epstein. leslie wechsler, the billionaire behind victor a he is create accused the sex offender
misappropriating $46 million of his fortunes. the l brands revealed in a letter to wechsler foundation members, that the missing funds were discovered after cutting ties with epstein in 2007. here is judge andrew napolitano, fox news senior judicial analyst. he is host of "fox nation"'s liberty file. thank you for joining us. i was wondering how wechsler would come out and kind of explain the financial relationship and where a lot of this money went. we know that from all of the reporting that epstein was supposedly a money manager but we don't know of any clients he had except for her. no one else raised their hand that said he was their client. supposedly had to give him a billion dollars, power of attorney so he can manage your whole life. at one point the mansion in, brownstone here in new york was signed over to him from wexner. it left a lot of people asking the question, if he took so much
money from her, what was it that wexner got in return. he is saying nothing, i was robbed. that is what i got in return. >> these are great questions, melissa. the letter was released today. it is undated but it was posted today but you're right, it reflects that in 2007 and 2008 he discovered the theft of $46 million. what has he been doing about it since then? if he knew about it since then, the statute of limitations for prosecuting epstein has expired. he can't be prosecuted. the statute of limitations suing epstein to get the money back has expired. he can't be sued. the letter was actually sent to the, people who participate in the foundation which is a foundation that is private and very wealthy foundation. basically says, i gave him power of attorney because i trusted him. question, did he use the power of attorney to sign the deed, both as the seller of the
townhouse and as the buyer of the townhouse? and is that going to be undone? perhaps. i don't know if the townhouse is worth 46 million. i don't think wexner will get it. i think the government is going to get it. melissa: it does raise the question as epstein, if he is convicted of being involved in all of these various crimes -- >> right. melissa: everyone has asked, what if any involvement did he have in it? obviously very well-known business professional. he owns the company that acquired victoria secret. >> right. melissa: you know, i mean he is a retail genius. and, many people, what was the nature of their relationship? why would he let this person who didn't graduate from college, who is a high school math teacher, take over as his financial advisor and sign over power of attorney? why wouldn't he pursue him, if he stole that much money from him? what did potentially epstein
have that wexner wouldn't go after him for the money later? who would be asking those questions? the authorities? >> well, probably epstein's lawyers are asking those questions of their client. because if the answers to those questions are salacious, or reveal criminal activity on the part of someone other than epstein, then his lawyers might want to trade that information to federal prosecutors and fbi agents, in return for some diminished exposure. right now epstein's exposed to 45 years in jail. look there is a legitimate argument to be made. he pleaded guilty in florida. he can't be tried again. that is one side. if he loses that argument, confronting a jury trial. the feds say okay, we'll reduce 45 to 5 if you tell us what you know about whoever you, else you have been involved with. his name comes into this, they're going to reward epstein
if it is truthful and helps them in some other avenue knew they're pursuing. >> yes. >> this is a there is a head-scratcher, and asks more questions than it answers. >> we appreciate your time. ashley: news corp reporting fourth quarter results. let's get back to jackie deangelis with the numbers. jackie. reporter: ashley, it was mixed here. earnings for news corp, 7 cents a share. that was four cents better than the 3-cent estimate. revenues 2.47 billion. the estimate was 2.55 billion. still revenues roughly down 5% year over year. another headline just crossing, that i want to review with you, "wall street journal" subscribers a record, 2.6 million subscribers, guys. back over to you. ashley: jackie, thank you very much. melissa: targeting local hospitals. robocallers expanding their pesky scams beyond personal cell phones.
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melissa: cvs earnings underway. this stock right now flat after hours. very exciting. unchanged. >> now story we all know and hate, robocalls they bug everyone, and hospitals are no exception from february to april this year, one of busiest cancer centers in country received 6600 illegal robocalls, they mimicked internal numbers in the hospital, consuming 65 hours of hospital respond time. top's medical center in boston
more than 4500 calls placed in two hour time span in one day. it is that bad, top security tomorrow said there no indication that the call is phony until someone actually answers it. we have all been there, here is alex hammer stone, cyber security expert. alex. those kinds of stories are just horrendous. we all get these, they are so annoying, so why can't we stop them? >> there are a number of reasons, one is basic way phone protocol works. they are allowed to spoof numbers, because when you get a call from say a large company, it might be from their -- they want to show an 800 number not the direct line, it is an old practice, people take advantage of that now. >> ther -- they must be breakine sort of law, i heard so many people say, i was on the do-not-call list. does not seem to make a
difference. >> not a bit, if they are calling to scam you anyway, they are not going to obey the other laws. we deal with it, it is challenging. >> explain how hard it is to direct line to people, one line from here to there to romania to russia. >> a number of these come from overseas that makes is more difficult to litigate or track them down, a lot of fly-by-night operations, it is simple to get into the robocalling industry, you need a server, software and a list of numbers. >> is it effective, everyone either ignores them and let it go to answering machines or after there are no answering ang machines do we still have those. melissa: no [ laughter ] >> why are they still in business. >> it is an issue of scale, if you make millions and their are billions of these calls go oyou
could have a low percentage of success and make a lot of money doing it with the scams. barriers to entry are so low, with quantities you don't have to get many people. >> you are a cyber security expert, what do you do to cut down. >> that is my challenge, in my business, i have to answer my phone, i add them to a blocked list. >> then they come up with another number and go on and on. >> it is never ending, my block list is very large. but really something i deal with, i pay a lot of money to have a cell phone, really not that usable as a phone. >> last question, if government gets involved, will it do any good? >> a lot will have to happen on carrier end to block and identify the numbers, it is a matter of time, getting it implemented and requiring it. >> when it affects hospitals
those services that need to pick up the phone it is dreadful. melissa: dare i say? a reason to vote for bernie sanders. >> what. >> if you got into the office and you found out something about aliens, if you found out about ufo's would you let us know. >> my wife would demand that i let you know. >> is your wife a ufo nut, she is bernie, what is going on? >> you don't have access. >> i don't. >> okay, you will let us know. >> all right -- we'll announce it on this show. >> everyone promises that, they do, they all say, are you part of storming area 51. >> they are holding a festival instead but i don't' to get shot. melissa: a festival? >> they gave up, 3 million people on facebook say we'll show up, that means 7. but not real. i do want to know whether there are rail yens, we all do.
i would do is look in the book. melissa: you run for office, and tell us. >> i'm on it free wine, and aliens. melissa: that does it for us, "bulls and bears" starts right now. david: a good day, winning on wall street, always a good day, it was today markets soaring after china fixed its currency higher than expected this morning, easing global concerns, all major averages celebrating with dow up more than 370. today's gain, s&p 500 and nasdaq are now positives for the week. you can believe that? good news for those businesses today, bad news for two others, calls are now growing for customers to cancel their membership and bo boycott populr fitness clubs, equinox