Skip to main content

tv   Mornings With Maria Bartiromo  FOX Business  February 2, 2023 8:00am-9:00am EST

8:00 am
list i don't think this issue is nefarious compared to decades decades chinese government to genealogying in economic espionage the most immeasurable over the years, something we have to sign light on previous administration did a very good job of focusing on the issue and for once we started to have an actual dialogue with china, regime not the people he the -- liz: i think one of donald trump's biggest achievements american people are now aware in universities corporations so many fronts chinese have stolen from us infiltrating to use your word, thank heavens somebody became vocal about it doesn't mean this administration currently hasn't turned everything around on head.
8:01 am
maria: joe biden walked into white house canceled china -- tells you everything right there such a pleasure having you this morning. thank you please come back soon. >> i will do that love the show. >> mike baker here liz mark next hour of "mornings with maria" is happening now special guest, biopharmaceutical ceo will join us, the next hour of "mornings with maria" begins right now. . maria: good thursday morning. thanks very much for joining us this morning. i am maria bartiromo. it is thursday, february 2, your top stories right now, 8:00 a.m. on the button east coast,tech on deck futures lower take a look dow industrials down 112 nasdaq up 186 points that is us 1 and a half percent higher right now on nasdaq, we are looking ahead to more technology earnings, and economic data, we are waiting on amazon, apple, alphabet out after the
8:02 am
close watch apple will give a window into a lot the consumer china supply chains, meta reported last night social media indigent missed earnings per share but look at beat on revenue, what it is doing to the stock this morning, company also announced the 40-billion-dollar stock buyback meta platform shares right now up 18 3/4 percent right now stocks higher yesterday in a technology led vans nasdaq up 4 of last five kas traditional banks making policy announcement federal reserve raising rates 25 basis points, yesterday. as expected. earlier this morning, bank of england raised rates 50 basis points european central bank with rate decision in a few moments, we will get those numbers to you as soon as it hits the tape, jobless claims, out 30 minutes' time we get those as well could be a market o he mover, of course, january jobs' report out tomorrow join us all-hands-on-deck for that data, for month of january price of oil, is lower, the price of brent 82.49 down a
8:03 am
fraction right now crude oil right now 76.18 down a third of one percent, shell posted annual profit 40 billion dollars, highest profit ever, stock this morning up better than 2%, european markets look like this, take a look at eurozone higher across the board ft 100 up 48 cac quarante up 11 dax higher by 1285, one and a quarter % higher in germany in asia overnight most green hong kong weak spot others traded up fractionally, as hong kong announced this morning, it is giving away 500,000 air tickets to, revive tourism paying to you go to hong kong. back in u.s. americans are addressing, the state of the union receiving a it in a negative way, fox news poll finds the majority of voters describe midterm a dysfunctional family detail coming up right here "mornings with maria" is live right now. maria: it is busiest week for earnings this week, meta
8:04 am
reported last night social media giant happened much better than expected revenue, the stock up 19% also announced a 40-billion-dollar stock buyback investors focusing on largest companies by market value tonight, we are waiting on apple, amazon alphabet closely watched to see if january tech rally is justified by strong profits all three companies reported, will report, by the way, after the bell joining us ershares ceo joel shulman hot topics mark tepper liz peek the rest of the show, sam waksal great to see you. thanks so much for joining the conversation we've got a lot to talk about on medical breakthroughs with you, joe welcome good to have you your take on all this, what did you assess the earnings period for us so far how do you see it? >> green light for tech, i mean we haven't seen many months maybe couple years since big gap premarket between dow, value, oriented
8:05 am
deduction down, tech up 1 1/2, as you point out i mean about a 2%, gap between, value and growth. tech hasn't really performed as strongly as i think it willor can in the weeks to come obviously, today after market, going to be a big day, but being up close to 20% kicking things off a big move they were they are 150 stock 150 dollar stock, 1 months ago closer to 320, a lot of room to grow. maria: mark. mark: i want your take on you know a lot of people are predicting a profits recession this year if looking at screen right looks like earnings season so far earnings are slightly negative down .37%, tech in particular, negative earnings growth, of negative 13%, so what is your take on whether or not there is going to be a profits of recession this year. >> mark i think you are absolutely right, there have
8:06 am
been revised expectations, meta up 20% premarket a great example remember that for the past, 6 to nine months we've seen more than 1002,00,000 technology jobs disappear they've pug put costs in perspective focusing on efficiencies squeezing margin the market is seeing this to price, i thank you revised expectations i think very low expectations, i think that is best time earnings beats what we're seeing though, many small to mid-cap stocks, have really rallied a lot some up he over one hundred percent many up over 30, 40% year-to-date, we're going to see more this afternoon i think. maria: i wand to zero in on apple when you get apple earnings a window into the consumer, getting a window into china, the supply chain, and by the way, thes valuation 2.3 trillion dollars, highest market value of any company. big shoes to fill there, are they going to do it stock up 1
8:07 am
1/3% right now. >> we have we primarily focus on small companies probably biggest expect a companies nvidia doing great, chatgpt moving them, major position there is but otherwise most growth, most movement has been, the smallr, smaller tech companies the mid-caps seeing a lot in cloud so forth apple is you know is a closely monitored stock have been underperforming many tech stocks i think investors looking for a place to get money, not going to find from itted pass, the microsofts they find from it smallr mid-cap stocks. liz: do you think meta performance has more to do with earnings guidance performance in terms of viewers or is it the stock buyback? is that something we might from a lot of tech companies that are cash rich? >> well, i i mean actually both when you look at meta, from earnings standpoint if you look at them right now
8:08 am
enterprise value ebitda is about 7 versus benchmark in sectors 17. so they've been ironically, high growth stock for many years, now from placing standpoint closer to value stock in terms of the way people look at them they have been beat up it is the buyback encouraging but the fact as would say year of efficiency, gotten, in gear remember all these layoffs has not really hurt our -- our unemployment u.s., lowest in seven years 3 1/2% going to find out more in a few minutes but unemployment is not effective, so we are seeing most job layoffs are foreign workers, multi nationals laying off international workers h-1b from india china other places laid off. maria: jobs numbers tomorrow morning all-hands-on-deck on jobs numbers for january we will see what that says great to see you. thanks very much joel shulman
8:09 am
sam we've hat pharmaceutical earnings out you feel where growth is in this economy. >> i do, i think there is going to be growth in the economy, anyway, because i don't believe we're going to have a real recession in this country because we don't have unemployment. so i think the economy is going to do a much better than a lot of people think. in the medical industry i think we are doing a great job, eli lilly growing, going to grow a lot, an important drug for eli lilly a big detail all of biotech, pharma is going to be important. maria: i want to get detail from sam waksal next block much more ahead talking about medical breakthroughs 8:30 a.m. latest jobs data the initial jobless claims coming out we will have numbers as they cross the tape you are watching "mornings with maria" live on fox business, we'll be right back.
8:10 am
♪ ♪ .
8:11 am
8:12 am
8:13 am
8:14 am
maria: welcome back eli lilly down one pandemic/4% beat on especially eps earlier but missed on revenue this is for fourth quarter, pharma company received approval from fda for a new blood cancer drug joining me right now as special for the hour graviton biopharmaceutical, ceo sam waksal great to see you. >> great to see you. maria: used a career investing in pharma i want your take what we're seeing in eli lilly, diabetes problem heart disease number one killer how would you characterize the growth stories within pharmaceuticals right now i think great growth in the pharmaceutical pharmaceutical industry talk eli lilly everyone expected lots of things going forward
8:15 am
david spoke today going forward lly a play in type diabetes obesity, the drug a bit different than nova, but interesting because these drugs have an effect on time 2 diabetes, also have an effect on obesity, for example, somebody gets bar attic surgery type two is cured before they lose one pound. that is because, amongst those are things glp1, as well as lily that is going to drive revenues for lily very high. >> show the eli lilly is planning to spend 450 million to expand manufacturing site in north carolina demand growing for that diabetes drug there is a cancer right here where do do you believe we are
8:16 am
in fight against cancers, sam? >> the first of all, i believe, that one should not say cancer. because we're going after different types of tumors those take different types of drugs. so, for example, we've seen in the area of nonsmall cell lung cancer, a huge killer in the world, over the last few years, the ability of your immunosystem to kill your own tumor has become enormous, and it is in the area of lunning a conference so keytruda. >> merck drug. >> and bristol-myers squibb, melanoma other cancers. >> is it you also have this combination partnership of between merck and moderna trying to use mrna technology to create a
8:17 am
vaccine? >> that is a great question. because what is happening now, and i have never been i have my own biases never a believer mrna is going to be important in therapeutics that is a different point we have seen what biotech, have been able to could in covid now in terms of cancer vaccines very individualist way with oncology when your immune system is reacting you go you add a vaccine you make it a better response against a tumor that is going to be huge if it works. maria: very promising let's take a short break get to cheryl breaking news on european central banks. >> 50 basis points hike as expected, by the ecb the rate decision now sending 2.5% but commentary changing the game in europe right now because
8:18 am
talking about further 50 basis points hikes, in particular aut march meeting so again saying we are going to raise 50 biceps now but signaling clearly, that they are going to keep going, that going to have to do another a half percentage point jump in march as you know you talked about it inflation story in europe has been worse than it has been here in the united states, more than ep 10% in okay ber, 10.6% is what they had huge, more on ukraine a energy story there as well as pandemic issues over in europe but that is the decision, and signaling more hikes to come. maria: stocks are rallying in europe cheryl, thank you very much, dow industrials meanwhile, off the lows down 65 right now, i am with sam waksal talking about pharma medical breakthroughs cancer in particular has really shown incredible progress in terms of treating, some cancers, that are no longer considered a killer, for example, breast
8:19 am
cancer. >> changes have been enormous that is why pharma venture capital private equity invest a lot in cancer we had targeted drugs for cml now, new drugs for immunooncology, we have the ability to have your own t-cells kill leukemias, the cancer breakthroughs have been enormous we are going to -- more we are understanding more and more about the pathways that cause individual cancers. >> 25 years ago we talked about so much about human genome project mapping genome ahead of diseased figured out bad eating causes diabetes started eating better smoking causes cancer stopped smoking tried to get ahead of wellness, explain new
8:20 am
commonwealth study find americans spend most on healthcare compared to other countries but as we have lowest live expectation at age 77 talk about life expectation why is it that in america the life expectation is 77, then look at place like korea, or japan, and many more years old. >> america has seen even further decrease in life expectation, over the last few years. so in 2020, 2021, and even in 2022, we see life expectation going down. our costs are the greatest in the developed world, so that is a real discrepancy. maria: in one offed a fight on debt ceiling. >> weaving a fight on debt ceiling, isn't only pharmaceutical costs there are a lot of ways we can fix that inland a pay when it works
8:21 am
system i wrote op-ed piece about it many, many years ago. maria: when drug works pharma company gets paid if it doesn't -- >> especially in cancer. >> the reason different than other countries? you think what we're eating? where we live? why a life expectation of 77? >> i believe that there is also the -- the discrepancy between haves and have-nots sadly even in new yorkcy places average life expectation is 87, in spots and neighborhood with live expectation 63 years of age a big discrepancy but, also, in the last few years, we had covid killing a mill americans, more americans died during covid than any other country. maria: i want to talk about covid later in the show, i want to get your take on what happens with you pharmaceutical companies now,
8:22 am
and also, this report from project veritas about pfizer we will get into with it sam later in the show he will be with us the rest of the hour stay with us. we'll be right back. . we all have a purpose in life - a “why.” no matter your purpose, at pnc private bank we will work with you every step of the way to help you achieve it. so let us focus on the how. just tell us - what's your why?
8:23 am
bath fitter is a better way to remodel your tub. a custom-made watertight fit and high-quality materials mean a beautiful tub, and a great value. bath fitter. it just fits. visit to book your free consultation. when you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh
8:24 am
i screwed up. mhm. i got us t-mobile home internet. now cell phone users have priority over us. and your marriage survived that? you can almost feel the drag when people walk by with their phones. oh i can't hear you... you're froze-- ladies, please! you put it on airplane mode when you pass our house. i was trying to work. we're workin' it too. yeah! work it girl! woo! i want to hear you say it out loud. well, i could switch us to xfinity. those smiles. that's why i do what i do. that and the paycheck. so many people are overweight now and asking themselves, "why can't i lose weight?" for most, the reason is insulin resistance, and they don't even know they have it. conventional starvation diets don't address insulin resistance. that's why they don't work.
8:25 am
now, there's golo. golo helps with insulin resistance, getting rid of sugar cravings, helps control stress and emotional eating, and losing weight. go to and see how golo can change your life. that's >> -- the warning against taiwan -- >> i don't think china can tell me where i can go any time any time.
8:26 am
maria: that was kevin mccarthy responding to chinese communist party threatening him to stay away from taiwan. secretary of state blinken preparing two-day trip to cline beginning this sunday, expected to talk about russia's war on ukraine mill, and on climate change no word about any discussion or raising the origins, more than a dozen gop senators urging blinken and janet yellen to push china on human rights trade beige's aggression in yind indo-pacific region member of senate foreign favors banking appropriations committee bill hagerty is here good to see you. thanks very much for being here what are you expecting from this trip? and what is a must raise for blinken in your view? >> well, i certainly wish secretary blinken the best he has got major challenges ahead of him though. what i hope he will be talking about is china's military
8:27 am
aggression, the fact they've been sending warplanes into taiwan's airspace supporting, russia war in ukraine violation sanctions continue to ramp up grand theft posture everywhere they possibly can. from economic standpoint aggression continues, subsidizing companies, stealing intellectual property all needs to be brought up but what i am hearing is that they are going to talk about climate change talking about, cooperation on world health china has worst track record on world health lack of transparency, origins corona, fentanyl through mexico partnering with mexican cartels to kill american people. it is laughable when you think about what contributions might be to that if you think about discussion on climate, you've got united states reenters paris climate aaccorded major signatoriess have done nothing to meet obligation we got nothing for that handed over another great opportunity to
8:28 am
china continues to build more coal fire plants to become the largest polluter in the world we make ourselves disadvantaged a war on domestic production handing advantage to china trying corner market honor electric batteries, ridiculous. maria: that is stunning extraordinary i find it outrageous three yeahs away from beginning of covid having first hearing on thank you origins of covid 19 because republicans in charge in the house not one hearing nobody was curious as far as how this thing started, with sam waksal is pfizer is pfizer mutating covid project veritas report interviewed director of research he said that they are doing gain of function or mutating covid to make more vaccines project came out said
8:29 am
not true we are not going gain-of-function research what can you tell us. >> look. i do believe that there was a laboratory accident in wuhan. and i do believe that that accident led to a worldwide pandemic. we can talk about that at length. i do not believe pfizer is doing anything to endangering the world in that way, pfizer has been working and pfizer has -- albert done unbelievable job, making a vaccine available with their relationship with biotech quickly to american public to work a great job i do not believe pfizer is doing anything to danger the world. >> senator you want to weigh in here. >> is it a i would just say with respect to to the chinese communist party they've done nothing to keep the world safe is a you he remember what happened in china once virus got loose, any domestic
8:30 am
previously but allowed international travel to continue this something we need to make front center deal with this i think, needs to have on agenda i certainly hope he he will. >> have in fact, we had planes coming in, with people ininfected to west coast we had planes from italy to east coast people infected with covid that began in china we absolutely had a worldwide pandemic because it wasn't done we didn't respond quickly enough, the world didn't respond quickly enough. and it was a disaster. >> you want to jump? liz: it seems to me not long ago the united states was compacting from china certain changes in behavior because we had leverage we had trade why is that idea completely off the table? and by the way, what is our trade policy right now? with china? is there any conversation
8:31 am
about that at all? >> john ratcliffe would stay china strategy is following rob, replicate replace sl that is what they do. >> you can't disagree request john at all, you are exactly right we were putting severe degree of pressure on china using trade as major tool you think about the trade deficit with united states china made out like a bandit over years used that gap to fund a massive buildup in militarily we were pushing back in previous administration need to continue that right now trade tools are there we need enforce them when secretary blinken shows up in china we need to speak from a position of strength. maria: i want your take on debt limit getting breaking news right now because the economy is showing signs of slowdown, but senator say with us i want to get your take what you are going to do with debt limit is busted it already has been now we are in extraordinary moves cheryl casone on labor unit labor cost job claims out. cheryl: claims, came in
8:32 am
weaker than expectation 138,000 claims flies in the face of layoff announcements we've been getting estimate was 00,000 came in 183. as far as continuing claims those dropped 1.655 million estimate was 1.67 million you productivity jumped in fourth quarter by the way, more than expected, we were looking for 2.4 got 3% jump on productivity for the a furthering quarter labor costs, fell interesting that is an inflation story, 1.1% maria the expectation was 1.6% opinion, of course, january jobs' report out morning 8:30 a.m. maria: markets back on numbers cheryl as we continue to see inflation cool down dow industrials way off the lows, now down 12 points about to go positive looks to me, quick on economic data mark. mark: did you really think fed is going to pivot with initial claims 183,000? absolutely not, but the market seems to believe that because look at nasdaq up 1.74%
8:33 am
premarket, seems like the market wants to believe pivot coming i say no chance with jobless claims snooubs the market saying consumer is going to continue in pretty good shape the essential story of the soft landing, if unemployment goes crazy -- >> senator look we've got debt ceiling debate your colleagues saying they are not going to vote to increase the debt ceiling, noo until structural reforms in spending. >> i support that when we're feeing from a democrats false choice stz, being medicare or a blank check not the case we can protect payments on debt interest rates, protect social security medicare get the at major wealthiest full spending taking place the fed has a tough choice now? we've had so much inflationary spending on wholly partisan fwooz years.
8:34 am
>> a choice of -- the democrats caused this we can fix it, it. maria: i assume not willing get u.s. to default on debt. >> no, no, we don't have to that is a false choice. >> senator good to see you. thanks so much bying hagerty in d.c. we'll be right back. .
8:35 am
8:36 am
8:37 am
8:38 am
money. >>. >> itching we are going o to be cautious about current victory sen sending signals we think game is won we got a long way to go it is early stages of disinflation most welcome to be able to say that that we are now in disinflation but that is great but we just see that it has to spread through the economy and then going to take some time. maria: that is federal reserve chairman jay powell jay powell yesterday announcing increase in interest rates, of 25 basis points, that is the small evident rate hike since last march joining me right now former president ceo of the kansas city federal reserve,
8:39 am
the former fdic vice chairman, distinguished senior fellow thomas hoenig good to see you thanks very much for being here do you believe we are in disinflation. >> i am looking at a dozen eggs 60%, give your assessment of jay powell's speech the rate hike we saw yesterday. >> well, i think first of all, the economy is slowing. that was purpose of raising the rates so we're getting that done. i think what you have is a -- talking past one another a little bit. the market is saying the fed has done so inflation is coming down. now they are going to begin to think about lowering rates again but before the end of the year. the fed is saying no we're just getting started. and we want to make sure you understand that we are just getting started so we're going to keep rates up and discussions inside fed will be, how long do we keep rates elevated? the market has led the fed over a decade and half that is
8:40 am
why you have the market kind of pushing them to easy more quickly than otherwise the fed has credibility problem they have to stick to their guns for a good part of this year. and i think we are going to have this difference going on, through most of this year. maria: thomas somebody had to be messaging this potential pivot. it didn't matter what jay powell said yesterday markets rallied the nasdaq finishing up better than 200 points, this morning we heard ecb raised rates 50 basis points bank of england raised rates this morning by 50 basis points across the board global central banks boe officials said they see much shall other recession than feared have things changed in your view in terms of macrostory. >> i don't think things changes sometime in 60% range -- i think we still have
8:41 am
inflation i think part of the problem is he yesterday when the fed raised only a quarter point, only a quarter point, it kind of confirmed what market has already been thinking getting close going to do this the fed is -- slowing down even more that signal is i think hurting the fed credibility, but we will see, they are still talking tough words are not enough, the market has to be convinced the fed is now in charge, again, it hasn't been sometime, and i think that is going to be a major fact go, going forward whether or not they can believe fed louped of the fed. maria: important point credibility. mark: pricing in a pivot without a doubt despite what jay powell wants to say market pricing in a pivot kashkari recent said investors are playing chicken with fed going to lose. what do you make of that. >> i think words again, kashkari kind of a hawk trying to convince the world that
8:42 am
they are going to be tough so market believes him look at actions last decade and half this is where they are looking at markets always been right the last, decade and half fed always stepped in taking care qe when they need to that is the track record, so the fed has to disapprove that track record that is actions are going to have to speak louder than words. maria: go ahead. >> thomas do you think any chairman powell has said always that he is going to be looking, very carefully at what really is going on, so it is hard -- to predict what the future is going to bring. but do you think that when you are looking at things you are seeing the trailing events are predicting a drop if not what you are talking about in inflation, the fed is going to calm down? >> well, i think -- the fed will come down, but, inflation is still is too high.
8:43 am
we keep talking about the fact they moved from 9% to 6% something you know, that is that is so significant they think. but that so is far away from 2%. maria: yep. >> the fed has to be tough they have to hold their ground, but they have that is not the track record so they have to change how they are perceived by market market -- if think get continue the decline we see good numbers, for january and then perhaps february , i think they are going to be even more pressure from market saying fed is going to ease you got to ease the expectation is being pushed towards the fed, yes, you better deliver for us, i think that is where powell and fomc as a whole will that is what you will find the legacy, the next two months will define their legacy i think. maria: two items on the agenda, in front of you, to get your reaction number one, house ways and means speaker kevin mccarthy says he cease opportunity to come to agreement on debt ceiling
8:44 am
we're going up against june deadline said very good meeting with president, yesterday, he reiterated the stance that there is no there is no threat of a default but that there is a massive threat with this overspending number two, this unwind of the fed balance sheet what he talked about this a number of times the fed going to take a trillion dollars out of liquidity, because they are unwinding that balance sheet doesn't that create a market disruption this year? your thoughts. >> first of all, on the debt ceiling i think, you know, they have to get this spending under control back to some kind of an agreement, you can't go from 4 1/2 trillion spending before the pandemic, to 6 over 6 trillion dollars consistently the debt going from 10 trillion to 30 trillion mccarthy is right you have to get an agreement to get spending under control, i think they will do that they have to do that because you can't default on debt that i think will take place but the
8:45 am
going to be very painful very bitter, i think that's -- you know -- unwind. maria: unwind, is going to continue you are right that is pressure there is so much liquidity they moved balance sheet from less than 4 trillion dollars to 9 trillion dollars so liquidity out there they have to to keep rates up unwind has to continued will be disruptive at some point towards end of the year still early in process well below a trillion dollars out they've got to get much further they better stick to guns too but will be disruptive once to that point see if they stick to guns. >>. liz: quickly did jay powell make a mistake yesterday if he raised rates by 50 basis points, with the market have paid attention to miss message. maria: great question. >> it is -- it is -- yes, they would have.
8:46 am
it would have been a very significant signal we mean what we say, have they done that? what he did instead confirm 25 basis points i understand why he may have done it 50 basis points would have said to the world we're serious. maria: thomas we love having you thanks very much being here this morning love your expertise thomas o hoenig taking a break piper sandler managing director is here he will join us. stay with us. ♪ ♪ right now, the world economic forum and global elites are planning the great reset. this is why i want to send you my exclusive book for a gift of any amount. this book takes you behind closed doors to reveal their radical agenda and arms you to fight back for the future of our country. call or go to right away to get your copy,
8:47 am
and let's stop the great reset. hi, i'm jason and i've lost 202 pounds on golo. so when i first started golo, i was expecting to lose around 40 pounds and then i just kept losing weight, and moving and moving and moving in a better direction. with golo and release, you're gonna lose the weight. (vo) the fully electric audi e-tron family is here. with models that fit any lifestyle. and innovative ways to make your e-tron your own. through elegant design and progressive technology. all the exhilaration, none of the compromise. the audi e-tron family. progress that moves you.
8:48 am
8:49 am
8:50 am
maria: welcome back. we've been talking about medical breakthroughs, gene editing emerging area biotech first potential drug could be approved as soon as this year joining is to join in the conversation managing director piper piper sr., biotech analyst, thank you so much for being here piper you wrote industry report in november about gene editing tell us what that is. >> a revolution taking place in genetic medicines target underlying cause of disease, the patient dna is permanently changed to fix mutation you
8:51 am
heard of crispr won nobel prize in 2020 works by targeted the faisht genome cutting dna to disrupt the disease, or insert dna to fix a mutation the benefit is that it is a one time treatment for potential cure to a range of genetic diseases >> do you believe biotech will have better performance this year than we saw last few years. >> we are very bullish on biotech defensive in a recessionary down 2014 market people eat food drink booze take medicine we expect to be biotech continue to decouple from breeder markets this year. with with respect to gene editing crispr, decompressing a drug, xsl for short, to treat sickle he cell, work by
8:52 am
turning on fetal human globein that replaces the mutated beta globein, in clinical trialed they have 42 out of 44, patients, transfusion independent all 31 sickle cell disease patients crisis free for several years this could be first gene edited month approved this year. >> talking throughout the commercial breaks, longevity so many break through those on the market sam to you tell us the best ideas for longevity. ted really did give us an insight into directions that things have been going, i am a believer in what mira is doing rig lateing gene editing going to be huge one thing every executive in silicon valley wants to live longer, one of
8:53 am
the things, that people are looking at now venture capitalists funding longevity work more and more it is not the major area biotech, but i am a believer that the reason statins really work isn't because they lower cholesterol but statins really work because they have effect on pathway inflammatory in -- vascular tissue that pathway is a rock2 pathway i work on that i have a real bias, but we have seen studies by national health service in great britain that shows that people on statins live significantly longer than people who aren't. >> statins should people take statins even if they don't have a cholesterol problem. >> i am not going to opine on that but i take statins even though i don't have a real cholesterol -- >> there you go. >> what are companies here
8:54 am
that are benefiting from longevity movement, potential statins. >> longevity is a tricky one prove pretty much takes a lifetime does someone live longer or not? that is several years the companies find a disease related to cause of death like diabetes, but sam was mentioning inflammation plays apple role in every disease heart -- cardiovascular inflammatory probably cancer probably the place to start. >> i am drinking ginger tea antiinflammatory. >> i just want a pill i am expecting you guys to come up with something. >> everybody wants to take a pill that is why -- the -- the drugs, probable do so well. not because of their effects ontype 2 diabetes but the everybody wants a pill to fit
8:55 am
into their size six address that is -- and an issue that i think, as ted said, as we look you know auto immunity this is a major area of importance in disease. >> auto immunity like lip u.s., rheumatoid after rightis ossio arthritis drones disease multitude of autoimmune diseases i work on that ted knows that is what i am doing at graviton right now the point is auto immunity also plays a role in longevity, aging. liz: there are major implications for national budget one big problem america has i think aing population obese population enormous cost to medicare, so forth, some drugs you guys have been working on i say "you guys
8:56 am
gaetz collectively do lower obesity help people. >> i saw in earnings this morning eli lilly, also saw, merck. >> absolutely, but, you know, the point is we can also go out and walk a mile. >> [laughter] >> we could walk a mile. >>. >> favorite stocks how would you assess earnings today. >> our top picks legend bioo sciences incredible bcm -- j&j, just reported that a new trial, will ultimately should lead to approval in early lines of minimum my loma t-cell that isontologist for people's tcell targeted against cancer 98% response rates 80 plus% complete response rates really showing proms of cell therapy a good one, partnering with johnson &
8:57 am
johnson, growth stories are many. >> what a great conversation, ted, thank you so much mark tepper liz peek sam waksal good to have you this morning have a great day, everybody.te "varney & company" is up right after the break. . you er. so you call in ibm and red hat to create an open hybrid cloud platform. now data is available anywhere, securely. and your digital transformation is helping find new ways to unlock energy around the world.
8:58 am
8:59 am
9:00 am
stuart: good morning, everyone, welcome to varney and company. it is an investor's dream, a massive stock buyback that boosts the value of the shares you own. it's happening now with meta, formerly known as ok


info Stream Only

Uploaded by TV Archive on