Skip to main content

tv   The Claman Countdown  FOX Business  November 17, 2021 3:00pm-4:00pm EST

3:00 pm
table. charles: i've been spying it i was looking at gold and then i look over at silver which is making a bigger move. you covered it all, that's why we love having you on. we will talk to you real soon. a sideways session. a lot of things coming up a lot of breaking news. the one person that could put altogether. liz claman. liz: it is true, a million things happening right now. a bowl bear tug-of-war as investors struggle with stellar retail earnings in a mixed picture in the housing market. the bears winning at the moment, keep in mind the nasdaq and s&p are below record highs. president joe biden taking the infrastructure roadshow to detroit at this hour. you're looking at a light picture at the gm area where that's an all electric. it retails for more than $108,000. the president is about to get a tour of general motors factory 0
3:01 pm
in this hour as a legacy automaker for a head-to-head ev battle with tesla. word is top analysts dan ives follow from wall street and main street stand right now when it comes to his calls on gm, tesla and rivian and the rest. wedbush tech guru is here on a fox business exclusive in the first appearance dropping a bombshell prediction about holiday iphone sales. will ask him where he believes apple shares will going 2022. the pandemic do-it-yourself home improvement movement still has legs low stock hitting record high as it reports earnings, ceo marvin is here on whether he sees homeowners putting other hammers anytime soon prompted by supply chain and inflation. he's coming up. let's begin with a fox business alert market during investors for a loop.
3:02 pm
what would normally be bullish is now bearish and vice versa trade you can see the markets are all in the red but you would think that they would rally on the back the third quarter earnings season has been pretty stellar. 93% of s&p 500 that are reported so far. 77% at beaton revenue estimates. 81 beatty nonprofits. to the oil patch another case vice versa. the oil majors in the refiners are all in the red even the fresh inventory showed a surprise drawdown of 2 million barrels in weekly crude supplies, usually the lower the supply the higher the price climes but crude is getting slammed. intermediate close out the regular session done 2.9% to about $70.36. right now down 2.5% down to $70. our investors and traders confused, cautious, let's get
3:03 pm
right to the floor show, teddy weisberg and scott shellady. scott all begin with you we can argue who cares what investors and traders are really thinking. what should they be thinking what should they be doing? >> they had to be really concerned about what the fed is going to do and how this will go forward with the tapering and interest rate hikes. this is about reining in runaway inflation at six-point to percent. it touches everything. inflation in the energy is what's driving the and energy prices are what's causing although the bees basic price rises. that's what they have to be concerned with. how hawkish or double-edged is the fed going to be will there be a new person going to drive that initiative. at the same time argue the fact the earnings are doing okay, stellar as you said but i'm not so sure the underlying problems
3:04 pm
of the economy aren't still there and from cracks to fissures. we had bad jobs numbers, all argue the michigan survey was also very weak. we had housing stuff that wasn't very good. we have the two or three numbers out of, crossed the tape that aren't telling me this is a runaway economy. i've been doing this for 34 - 35 years. this is the first time since i can remember that we will be talking about raising rates into the teeth of the economy that is doing okay at best. i don't remember that happening. we raised rates when things are already overheating. that's not the case. what is that going to do. the idea with the expectation or the perception of the interest rate hikes or the tapering going to do to the economy next spring when we have the bill go through taxes go through the roof the biggest tax climate we've ever
3:05 pm
seen before. too many things to worry about but the wall of worry is okay, we just have to get over the issue with oil is a predatory pricing that the administration is pushing short-term. liz: were perceiving the economy is negative because of the issue of inflation. however, were seeing the stock market near record high, it's record after record. today a breather with the dow down 195. it's also the time of the year when the big wall street firms rollout the 2022 prediction. we told everybody that morgan stanley had came out and said they expected the s&p to close lower next year at around 4400. were obviously about that right now. goldman sachs coming out on limb yesterday for the chief equity strategist coming on saying the end of 2022 will see 5100. i don't think either of these guys is on point and it's too far out. at that point what do you say about an investor who says i
3:06 pm
will continue dollar cost averaging into this market. >> clearly hopefully we can all agree there is nothing rational about stock pricing and stock markets in general. i tend to overshoot on the upside or the downside and that's because so much of stock trading is psychological not based on fundamentals. at the end of the day scott alluded to this. at the end of the day it's going to be two things, corporate earnings and what the fed does, i don't know what the fed is going to do. these analysts, morgan stanley and goldman sachs and every other major firm are paid a lot of money, but at the end of the day there crunching numbers and looking at the numbers throwing darts against the wall. sooner or later one of them is going to be right, even a broken clock twice a day. but the stock market white
3:07 pm
frankly as we look at it now coming into the end of the year. i think the fed is on hold despite the rhetoric and corporate earnings have been terrific. were gonna have to look at the fourth quarter no reason to think the fourth quarter and will not come in good grade there's a lot of variables under variables but the line for reese resistant continue to be higher if you're a traitor you pay more attention to the ratifications by the so-called genius is that the firms. if you're a long-term investor staying long and holding on through thick and thin has been the right mantra and i would suggest that's what i would continue to do until something fundamentally changes and that's going to have to come from the fed. liz: that brings us a full circle to scott shellady. you have to tell me as we look at what's going to be an announcement president biden did
3:08 pm
say, and four days, now or three days, he will announce the fed pick. i would argue the fed is behind the curve in the economy the is a overheating but is simmering. we do have inflation right now. we do have the supply chain issue but we have wage inflation. with the ten year yield 1.61%. where do you see the best opportunity. let me flip it on the side. >> i agree with teddy the best opportunity to continue to what you do up until now. six-point to percent unemployment and rages going four-point to 9%. you're not making money, it's costing you money to your point whoever is running the fed we will have to see what they want to do when we see inflation 8%, what if inflation gets to 10%. we just passed a bill that will pour more fuel onto the fire. that could fundamentally change. like teddy said the underlying
3:09 pm
paintings of the economy. that's a problem we all made a big assumption that the economy will be just fine it will simmer along and will be okay, what is the fed going to do, the earnings look great. what if we see inflation at 8%. the 6.2% reading, 31 years high. were gonna see inflation go up from here. what is the world look like the, that is going to eat into everything. that's it price everybody has to pay. liz: we had low rates for years, the market knows the true valuation. teddy scott, greato have you. the ev world getting a charge today, so no motors making the trading debut a local vehicle pioneer opening at $20.6 after pricing last night at $15. the solar power startup moving up $19 or 131% to $34.66.
3:10 pm
investors running on the green wave with president biden making his first ed stop in detroit after autographing 1.2 trillion dollar infrastructure bill on monday. at any moment we expect the president to help general motors fling open the doors of gm's second electric vehicle plant named factory 0. let's go live fox news in the motor city following all the electric action. >> were here in the president's motorcade at the gm assembly plant. this is a big part of the reason why the president is visiting motor city today. this is the gmc hummer ev that hit the road next year. the president will get a chance to get behind the wheel and test drive the electronic vehicle technology from general motors. he will to her the factory 0 where the new hummer ev will roll off the assembly line after visiting new hampshire yesterday. this is a stop to his victory to
3:11 pm
her after signing the one trying another infrastructure bill. the plan sets aside billions of dollars to install 500,000 ev charging stations across the country. the idea is to get enough of the charging stations to match the frequency of your traditional gas station on the road. we spoke with one local bus driver in michigan who took the time and between bus routes to show up and show support for a bipartisan infrastructure bill. here's what he had to say. >> if you own a house and you don't do repairs, falls apart, it's worth nothing. we have to upgrade, it's worth a lot of money but our country is worth it. if you give americans the tools that they need, they'll get the job done. >> the other big energy headline that we are tracking closely. the president is calling on the ftc to probe big energy companies. in a letter the president made
3:12 pm
mention of the current gas prices and how much higher they are compared to pre-pandemic levels. he also points to the gap between unfinished petroleum in the prices that were pain at the pump. stay tuned. liz: your truck driver just articulated in a better way then most pro-green people want to look towards this and say let's investor to country. with gm on track at this hour to close at an all-time record. top tech and ev guru dan ives is about to join us exclusively on the one big advantage, he says gm has over the sizzling newbies in gm going head-to-head with elon musk and tesla and overtaking tesla, the fox business exclusive coming up at the bottom of the hour with dan ives. shares at a record high after it
3:13 pm
listed the full-year sales forecast. marvin allison is about to join us live to talk earnings, supply chain and his new plan on developing for booming sales. he is looking at baby boomers and finding out what they need the most to upgrade their home. the closing bell ringing and 48 minutes, the dow jones industrial down to enter points. "the claman countdown" coming right back. ♪ i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. life is for living. let's partner for all of it. i'm so glad we did this. edward jones
3:14 pm
what's strong with me? what's strong with me? i'm so glad we did this. what's strong with me? what's strong with me? with me! with me! what's strong with me? with me! with me.
3:15 pm
i'll shoot you an estimate as soon as i get back to the office. hey, i can help you do that right now. high thryv! thryv? yep. i'm the all-in-one management software built for small business. high thryv! ow. get a free demo at you're a one-man stitchwork master. but your staffing plan needs to go up a size. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit
3:16 pm
it's another day. matching your job description. and anything could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. only comcast business' secure network solutions give you the power of sd-wan and advanced security integrated on our activecore platform so you can control your network from anywhere, anytime. it's network management redefined. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities.
3:17 pm
liz: the tight housing market and the baby boomer in addition to blowout earnings. the home-improvement giant said it's launching livable homes, new partnership with aarp that will offer specific expertise, products and installation education targeted at america's aging population and shifting needs, tips to make your home fall proof, ramps, bed side assistance in those knock it out of the park beating on both the top and bottom line raising the
3:18 pm
annual revenue, the home-improvement retailer showing no signs of slowing down despite what were facing the global supply chain and rising inflation as the stock bumped up a record high let's bring in those president and ceo marvin allison. how did you guys be the inflation grim that everybody is dealing with. >> it's great to be here, a lot of work managing cost but also finding ways to reduce expenses and other parts of the business that we can absorb the cost that we cannot avoid and protect pricing. at the end of the day we want customers to walk in and out competitive pricing and were very fortunate with the skilled team that were able to make that happen in the third quarter. >> investors are believing because the stock is moving higher. what we seen in the past 72 hours, this is retail where everybody is reporting the numbers, the word margins is getting a little touchy.
3:19 pm
if you are managing prices and i'm hearing you say you're not raising prices, how are you maintaining margins if you are? >> it's a combination of a lot of things were fortunate, it's not the only big box retailer this week that his reported margin rate improvement year-over-year. we drove that simply by managing cost. also in certain cases when we have the dramatic run-up in lumber cost, we had no choice but to pass the prices on to consumers. that hurt the dyi demand. in the case of the third quarter we had a combination, we had lumbar deflation, a dramatic price drop, copper inflation they neutralized each other but then we had demanded to supply chain costs that you talked about. how do we improve margin we reduce our shrinkage, we did a better job of making sure that
3:20 pm
we managed overall expenses on the other parts of the store. we had really good win-win negotiation with vendors to keep our costs down and were able to manage pricing in a way where we did not to be as promotional but give up our country competitive price. when you combine those together with an experienced management team with high demand, were able to hit all those numbers and i'm very proud of that. liz: that is great, people are scrutinizing and familiarizing with margins when it comes earnings report. one of the things that i see is different from last year at this time. last year the diy do-it-yourself movement was driven by people who are in lockdown and wanted to improve their homes. now it feels like the diy is still there but today the demand is driven by a shortage of inventory so people aren't so easily able to buy a new house that has the features that they
3:21 pm
want. what have you seen with your customers regarding that shift? >> two things, two data points that are interesting. in the u.s. today, 60% of the homes are 20 years or older, that's the first thing that's happened since world war ii. in addition to that when you look at the supply and demand situation with homes that you talked about. we estimate there's a shortage of 1.5 million homes to meet the demand that is in the marketplace. when that happens, it's a positive or home-improvement because two thirds of the business at lows' repair maintenance and upgrade. when you replacing the cabinet and putting a new countertops and replacing the floor, et cetera, that is two thirds of our business. when you decide to stay in your home because there's no property in the marketplace that lead to expectation. i will just upgrade my kitchen
3:22 pm
and finish out the basement and expand the powder room, that is our business and that's a pro versus the diy. last year diy was driven by cleaning, ppe and people who were nesting at home due to the mobility limits of the pandemic and they were finding things to do in the yard and around the house and small projects. a lot of small projects have turned into professional projects. >> i like how you call it nesting, i call his stock. thankfully we have moved on from that, this livable home dealing with aarp, is this a particular critical time where fewer than 1% of homes have the proper features that support an aging homeowner? it feels like you guys are reading a baby boomer daily, where you do see the revenue going and where you see it moving? >> a quick story my dad is a
3:23 pm
must 80 years old and is lived in the same house i'd grown up in. he is not moving. he made that perfectly clear. as mobility becomes limited i was thinking to myself to a half years ago trying to make ways more assessable, walk-in tub, pulldown cabinets, nonslip floors, grab bars, i could find no place, one location and get everything. my wife's mother needed a stair lift in her home in the price she was given by the supplier was outrageous. it dawned on me, we have to figure out a way as a company that truly care about our customers to pull this in for a one stop shop project management for all these things where customer can come up and trust the price and the quality and they can trust the fact that will be there throughout the whole project and anytime they need to come in and make a
3:24 pm
modification. it was born from that, as i start to discuss my frustration. i'm a seal the home-improvement company, i can't get this done. i'm imagining is gotta be hard for everybody else. i spoke to other executives and did surveys, we realize this is a fragmented industry that takes advantage in some cases of the customers. we pull this together and we believe with our collaboration which is going to allow us to do a great job of providing training, branded content, videos, educational material for aging customers and homeowners, we can give them something that doesn't exist today in a cohesive ecosystem. liz: plus your dad, i know exactly what you're talking about. we had to go to all different websites to get things to help my mom. i think this is a great idea. please come back again marvin, thank you so much.
3:25 pm
we are coming right back, breaking news on amazon and the two stocks falling on the breaking news. ♪
3:26 pm
kevin! kevin? kevin. oh nice. kevin, where are you? kevin?!?!? hey, what's going on? i'm right here! i was busy cashbacking for the holidays with chase freedom unlimited. i'm gonna cashback on a gingerbread house! oooh, it's got little people inside! and a snowglobe. oh, i wished i lived in there. you know i can't believe you lost another kevin. it's a holiday tradition! that it is! earn big time with chase freedom unlimited. how do you cashback? chase. make more of what's yours.
3:27 pm
3:28 pm
if you used shipgo this whole thing wouldn't be a thing. yeah, dad! i don't want to deal with this. oh, you brought your luggage to the airport. that's adorable. with shipgo shipping your luggage before you fly you'll never have to wait around here again. like ever. that can't be comfortable though. the smart, fast, easy way (rhythmic electro rock music) (crowd cheering) - bito, bito, bito, bito! - [announcer] bito, the first u.s. bitcoin-linked etf.
3:29 pm
is below breaking news we want to take it to motor city where president joe biden took a tour of a general motors plant in detroit that makes electric vehicles that sells the benefits as a recently signed 1.2 trillion dollars bipartisan infrastructure package. the president on the production line getting a demonstration of an electrical test, he is with gm ceo mary barat and other company executives with union leaders the president expected to speak in the next hour. mr. biden is expected to drive and take a spin around, one of the first production 2022 gmc's all electric, pickup to rolloff the factory 0 will line we will
3:30 pm
keep tabs on the gm factory. gm stock is at an all-time high. stay tuned for that and wedbush analyst dan eisen is coming up on gm and tesla and more. fox business alert, a company says they can surgically raise prices. that appears to be a good thing, it is reflecting that on track for the biggest% increase in more than a year that would be an adjustment of 6.5%, t.j. maxx not only be on earnings estimate but an excellent inventory position go into the holiday season. all the tale of musical credit cards payments join visa after amazon said it will stop accepting the issue is credit card in the united kingdom beginning next year because of high transaction fees. visa not happy saint was
3:31 pm
disappointed amazon is threatening to restrict consumer choice. were getting amazon reports in the last couple of minutes that the company is considering changing the credit card to rival mastercard, right now mastercard is down 2.6%. meanwhile the buy now pay later superstar that is partnered with amazon is rising once again by 1% today for $252.77. investors tearing up and turning off roku. the stock down 12% after they cut the rating on the tv streaming platform and slashed its price target by $220 right now 243 and change. simply put, we think along streets revenue earnings estimates are too damn high. analyst cut roku's overall estimate for 2025 by 17%.
3:32 pm
he said after scrutinizing outlook he says lower video advertising revenue. down 18%, roku is on track for the lowest close in a year. tattooed chef surging by 13% after posting and earnings miss quarterly revenue reached a record high by an increase in tattooed chef branded products. the plant-based food company we should tell you running high at 35%. as we mentioned the president is touring the gm factory 0 in detroit with a chunk of infrastructure money aimed at electrification. how realistic is ceo declaration and gm will not just take on but overtake tesla elon musk. top tech evey analyst have fresh reports on those, a fox business exclusive to set the record straight on that in the eb gold
3:33 pm
rush, what's behind the new holiday iphone sales prediction. the closing bell ringing in 28 minutes in the dow down 156 points. dan i hear and only here when we come back. “you have cancer.” how their world stopped... and when they found a way to face it. for some, this is where their keytruda story begins. keytruda — a breakthrough immunotherapy that may treat certain cancers. one of those cancers is advanced melanoma, which is a kind of skin cancer where keytruda may be used when your melanoma has spread or cannot be removed by surgery. keytruda helps your immune system fight cancer but can also cause your immune system
3:34 pm
to attack healthy parts of your body. this can happen during or after treatment and may be severe and lead to death. see your doctor right away if you have cough, shortness of breath, chest pain, diarrhea, severe stomach pain or tenderness, severe nausea or vomiting, headache, light sensitivity, eye problems, irregular heartbeat, extreme tiredness, constipation, dizziness or fainting, changes in appetite, thirst, or urine, confusion or memory problems, muscle pain or weakness, fever, rash, itching, or flushing. these are not all the possible side effects. tell your doctor about all your medical conditions, including immune system problems, or if you've had an organ transplant, had or plan to have a stem cell transplant, or have had radiation to your chest area or a nervous system condition. today, keytruda is fda-approved to treat 16 types of advanced cancer, and is being studied in hundreds of clinical trials exploring ways to treat even more types of cancer. it's tru. keytruda from merck. see the different types of cancer keytruda is approved to treat at, and ask your doctor if keytruda can be part of your story. ♪ ♪
3:35 pm
remember when no dream was too big? ♪ ♪ and you could fearlessly face the unknown. (kids playing) you still can. ♪ ♪ (blowing dust) when you have a rock you can depend on for life, you'll be unstoppable. that's why over 5,500 companies rely on prudential's retirement and workplace benefits. - there is a very small radical group in our society who's your rock? trying to browbeat and bully our fellow citizens into their control. why is this happening? what are they really trying to do? i share my findings in a brand new book, 'hope for this present crisis'. get your copy today and arm yourself against their misguided and destructive mission. - [narrator] in 'hope for this present crisis', doctor michael youssef presents a seven-part plan
3:36 pm
providing practical steps on how to be a godly influence in our society, and how to take a stand for our faith in a culture aggressively opposed to the truth. there is hope for this present crisis if we act now. this book is now available to you for just the cost of shipping and handling: $4.95, and if you order today, doctor youssef will also include the action guide: 'practical questions and answers for this present crisis'. call or go online today for your free copy. i've spent centuries evolving with the world. that's the nature of being the economy. observing investors choose assets to balance risk and reward. with one element securing portfolios, time after time. gold. agile and liquid. a proven protector. an ever-evolving enabler of bold decisions. an asset more relevant than ever before. gold. your strategic advantage. at vanguard,
3:37 pm
you're more than just an investor, you're an owner with access to financial advice, tools and a personalized plan that helps you build a future for those you love. vanguard. become an owner. liz: general motors shares are up 3.2% zooming what looks to be a record close as president biden opens new doors and butter cds for the ed sector at the factory assembly plant, investors appear to be buying into ceo i do quibble statement that last month shareholder meetings that gm will overtake, eb leader tesla with ev crossovers at a 30000-dollar price point. there are very behind in the market cap, when trillion on october 25, rivian debuted just
3:38 pm
recently and now has $121 billion valuation. tesla the eb production leader. rivian has manufactured over the ev trucks and vans a big support for amazon and ford. dni's covers tesla and gm he will outperform on both for gm and a price target of $85 most recently. your bowl case is 1800 and share. has any of that changed century most recent. >> gm, a rating from an infrastructure perspective is $100 that's for both case of gm. >> but you're starting to see. on the transmission that mary is
3:39 pm
bringing. it's underappreciated story, i think it can be a triple digit stock next year. >> a hundred dollars is at $64.75 up 3.3% it appears to be climbing a little bit are beavers like to hear these kinds of stories. let's ask about general motors and mary barra with this blunt declaration that we will overtake tesla, yes or no, will she be right. >> i don't think the overtake tesla, it's tesla's world and everyone else is paying rent. the 5 trillion-dollar market tesla will own two or 3 trillion there is 2 trillion up for grabs, i think gm is all about conversion and the rating on the software services. they do that, this'll be a renaissance for the growth that
3:40 pm
happens. that's for investors in ev misunderstood the market. not just about one company, you see with lucid another's. >> the president is touring 0 factory which is assembling all of their ev's. you look at their ability to retool and that is something that you reference about the fact that they're able to shift from internal combustion assembly lines to ev lines in a quicker dramatic fashion, is that what i'm hearing you saying. >> gm outside the tesla, they are the only company to have the vertical immigration from the software services to the battery technology to the distribution seven, eight cars a year. that is happening to gm going into next year they'll roll out
3:41 pm
30 models in the next four or five or six years. while conversion of the customer base in the software services. it starts to get treated less as an auto company and more as a disruptive technology. the same thing for ford that you see investors take hold. >> the f150, the lightning has a lot of orders for that. you think people are underestimating what ford can do, do you see ford or gm or both, once they grow big enough three evey businesses. >> you may start to see some of this happening in the coming years but for now they will keep that together. that is part of what they have that no one else has in terms of the move and you are seeing a play out you see lucid another's, the appetite from investors, from an institutional perspective we view this as the
3:42 pm
industrial revolution. liz: again with the institutional players, also the retail investor going and big to boost rivian, there is a question of whether it's a tsunami of a gigantic wave that these investors can serve or will be completely swallowed. >> the green tidal wave, not a matter for plays out, were already starting to see that, look at china, ten, 12% of autos or ev's, the u.s. is going 2%, buy-in with the infrastructure will be the green tidal wave taking over in the u.s., that's why gm and ford have dove into the ev's. you see the valuation as a motive company in a disruptive technology player. that's where tesla is. liz: apple in the holiday rush
3:43 pm
that you see for the iphone 13, you came out and said you expect between black friday and christmas that there will be how many iphones sold. >> 40 million iphones between black friday and christmas. >> what was your technology coming up with a number. >> asia relative to demand trends, this is one where apple, even though the conservative because of the chip shortage they can blow away numbers for the holiday quarter and it's our opinion six or nine months from now apple is the trillion dollar mark cap. liz: quickly, there's news today that they will be offering repairing toolkits for iphones and for max, how does that figure into your case. it continues to be a nonparallel install base, 1.7 billion devices worldwide. that's a monetization where accessories or services, that is part of every rating happening
3:44 pm
in apple and i view that as the super cycle iphone 13 continues to play out out of china in particular. liz: will you stay on a going into 2022. >> is a green light by the 3 trillion-dollar any selloff with apple buyers. liz: great to see you, a fox business exclusive, upper tice prerogative 100 bucks on general motors. good to see you. we are coming right back, charlie brexit next. ♪ as someone who resembles someone else, i appreciate that liberty mutual knows everyone's unique. that's why they customize your car insurance, so you only pay for what you need. [ ferry horn honks ] i mean just cause you look like someone else doesn't mean you eat off the floor, [ chuckles ] or yell at the vacuum, or need flea medication.
3:45 pm
oh, yeah. that's the spot. only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪ new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit and get started today. [energetic music throughout] what's strong with me? i know when i'm ready for a rest day. whose resumes on indeed match your job criteria. i can be ready for anything... tomorrow. find out what's strong with you with fitbit sense and daily readiness.
3:46 pm
i promise - as an independent advisor - to put the financial well-being of you and your family first. i promise to serve, not sell. i promise our relationship will be one of partnership and trust. i am a fiduciary, not just some of the time, but all of the time. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit moving is a handful. no kidding! fortunately, xfinity makes moving easy. easy? -easy? switch your xfinity services to your new address online in about a minute. that was easy. i know, right? and even save with special offers just for movers.
3:47 pm
really? yep! so while you handle that, you can keep your internet and all those shows you love, and save money while you're at it with special offers just for movers at
3:48 pm
liz: what do they say fortune
3:49 pm
favors the brave. the crypto exchange famous for the inspiring slogan not damon emerging dramatically in a black t-shirt making its mark after the biggest naming deal in sports history the staples center in los angeles will now be called arena after the single board cryptic exchange paid more than $700 million for the naming rights. the sum to the l.a. lakers, the clippers, the mba and the l.a. kings of the nhl. the name change will take effect on christmas day and be in place for two decades. bitcoin, theory and, litecoin are all lower right now. a quick breaking news, president joe biden hopping into an ev hummer during his tour of a general motors plan this is the first production 2020 gmc hummer
3:50 pm
pickup trucks to roll off the factory lines as were looking at this, the back is different from the old school he is expected to make remarks in the next hour, these things retail at $108,000 for the all ev version, it's pretty tricked out. the president isn't it and getting a feel behind the wheel of the all ev hummer. maybe we could do a big little one keep the video up. >> i would not do that with this hit. >> if you were watching yesterday he's a long-term investor and shortselling throughout the 40 year long career, he's kind of a switcharoo he is an investor in amc entertainment, the theater chain with a pitch that involves a special kind of dividend for shareholders.
3:51 pm
charlie, after your report you spoke with him last night, what did he have to say. >> he wants to set the record straight, correction there was a banner that said they met with adam aron the ceo of amc on this plan, he has not met with them, he has provided him in this is going to be really interesting story in the next couple of weeks particularly if they go through this, it's going to be a fab on the story on the 23rd period he is traveling as it is to get back on the 23rd he wants to talk to uni about this. he wanted to moderate. here's what you we know where will read this headline. he told me that he e-mailed aaron a plan to issue a securities token as a dividend on amc stock. if you issue the token it could have an inherent value. the token will trade on patrick
3:52 pm
burns t0 platform that was founded by patrick burns. the former ceo of overstock. the purpose is to put in nft with value into the hands of amc shareholder here is the secondary added feature which is fascinating. he believes in the debate once and for all over whether amc is subject to make a shorting. if you have this dividend and you lent out the shares, the people that you rent out the shares to hold shares that are owned by somebody else. the broken once the shares out in terms of a short sale. the ultimate owners, the owners are going to want the broker to get those back so they can basically get the nft, get the dividend that will create the
3:53 pm
situation. >> you will start buying like crazy, if there is synthetic open positions where there is no borrow in the borrow doesn't have to be matched or completed. you will see that, it's a fascinating plan and by the way this whole issue of whether amc controlled by dark pools. i am dubious i do believe mark is, we will hear him give that side of the story. i don't think it's a big deal but mark does. one way or the other we will find out what is going to go one. liz: this is historic he has not seen something like this before. miami issued their own token handover foot. >> let's get back to the original purpose, overstock did something like this which squeezed the shorts. the starks started trading up higher. this could be the same thing we
3:54 pm
get a short squeeze which can be very painful if anybody is really short. we should point out selling 70% shortages, it's not 100% but anyway it'll be interesting next wednesday. liz: tuning next wednesday i will moderate. i hope i don't get punched in the middle. we are coming right back the dow is down 167. ♪ ho ho ho! not again. oh no. for the gifts you won't forget. the mercedes-benz winter event. get a credit toward your first month's payment on select models.
3:55 pm
i'll shoot you an estimate as soon as i get back to the office. hey, i can help you do that right now. high thryv! thryv? yep. i'm the all-in-one management software built for small business. high thryv! help me with scheduling? . . high thryv! email marketing? almost there, hold on. wait for it. high thryv! manage my customer list? can do. will do. high thryv! post on social media? hash-tag high thryv my friend! get a free demo at
3:56 pm
3:57 pm
liz: andretti move over, moments ago president joe biden got behind the wheel and zoomed away on a ev hummer in tour of factory plant. 1000-horsepower, three electric motors. estimated 350 miles of driving range her charge.
3:58 pm
we should also mention, not cheap. more than 100,000 for the top level one. but we also remind you that dan ives, the wedbush analyst just announced he has a new price pre target on general motors unveiled exclusively here of $100 a share. gm at the moment, quickly if i can check, is on track to close at record high. the infrastructure bill focusing more on just than electric vehicles. it includes 65 billion for broadband deployment, access and affordability. what is the stock play? ernesto ramos, what is it? >> motorola solutions, liz. liz: interesting. yeah. >> big beneficiary of the infrastructure bill. regardless of the infrastructure bill this stock is doing great because of the trends in terms of increased transparency of
3:59 pm
safety agencies and police agencies wanting to have more direct recording of everything that is going on and better communication with the command centers but the funding is now there for them to be able to spend improving these systems. by the way, motorola solutions will sell you the product, will sell you the command center and sell you the servicing to go with it. so you can keep not only working well in the present but upgrading into the future this is really a solid play, not dependent on the economic cycle. we see risks to the economy here in terms of slowing down from the very high levels that we have to more moderate levels. this is a play that does not depend on the economic cycle and we like it for the reasons that i just mentioned. liz: it has had a nice run-up. you like ulta beauty. quick line on that? >> ulta beauty, the big trigger right now the catalyst is the partnership with target. they're opening up to 100 in
4:00 pm
target kiosks. [applause] this is concept familiar to the a lot of people. liz: pop-up. [closing bell rings] i like your thoughts, motorola solutions, ulta. ernesto ramos. the nasdaq is down 52. that will do it for us. "kudlow" is next. ♪ larry: hello, everyone, welcome to "kudlow," i'm larry kudlow. so the democratic party is in a tizzy over something called cbo projections of spending revenues and the economy. as you may know cbo stands for congressional budget office. it is allegedly and statutorily non-partisan. i have had numerous dealings with them down through the years. first as a budget deputy under president reagan. most reny


info Stream Only

Uploaded by TV Archive on