Transcripts For FBC The Claman Countdown 20240713

As georgia swings its restaurant and Movie Theater doors back open right now, we are going to get a realtime ontheground assessment and report from the ceo and cofounder of atlantabased wing zone. The restaurant chain with 90 different franchises. Youve got to hear how hes describing the brand new day here in georgia. But as concert venues and sports arenas remain absolutely shuttered still, whats a Live Entertainment company doing . In his first interview since announcing that it will refund Ticket Holders of concerts that had been postponed due to the coronavirus, live nations president is here. What he needs to see before lifting the curtains back up on concerts around the world. Plus there is breaking news on live nation. The Saudi Sovereign Fund has made a big investment in the company. Its a fox business exclusive. We will hear from joe in just a moment. But a true return to normal really hinges on the search and discovery of a cure for the deadly coronavirus. A new player is a company that is dusting off a longrejected drug that now has the attention of the mayo clinic. Wait until you hear the store of viralclear, what they are doing and how close they are. Less than an hour to the closing bell. Lets start the claman countdown. Liz we have this breaking news. An additional 2 billion is now in the u. S. Kitty for Small Businesses through the Paycheck Protection Program as the second round of funding has kicked off today. Kicked off a couple hours ago, 10 30 a. M. Eastern time. The additional 2 billion in funds come from a number of borrowers who declined or returned the loans that they had already taken. We are talking about shake shack, you had heard about that one, kura shus ashga sushi, we about that well capitalized sushi chain. Both of them heaped with criticism after they took the money that was headed for smaller outfits. The latest death toll from coronavirus stands at 53,922. Check the dow right here. We are up about 368 points right now and looking at certain what we call pop stocks. Jonesing for a new iphone . You have to wait a bit longer, especially if you want that 5g apple phone. The wall street journal is reporting that apple is delaying the production of the 5g devices by about a month as the coronavirus pandemic has put pressure on demand and supply. Apple is flat on the session at 282 and change. Look at beyond meat, snapping a sevenday winning streak after ubs downgraded the plantbased meat maker to sell, citing increased competition, a drop in restaurant volume, of course, as so many are closed, plus its recent runup and of course, as we look at the stock, its running down about 8. 8 at the moment. But it is up nearly 100 over just the past three weeks. On again, off again reports are that tesla has called off plans to call some workers back to its california Vehicle Assembly plant next week. Instead, the electric vehicle car maker will bring them back the day after a local shelter in place order is lifted. When is that . That is may 3rd. Tesla reports, by the way, after the bell on wednesday. The stock is up 9. 5 . Home stocks are in the bulls eye right now. Targets have been cut on home depot and lowes on a disappointing outlook for Home Improvement spending. What happened to everybody who is doing their doityourself things . I was watching the magnolia team. We like them. Chip and joanne. Wayfair shares are spiking as steeple raised its price target on the Home Furnishings retailer despite cutting the stock to a hold from a buy. So lets talk about oil. Oil is dropping. Cant even say slipping. Its plummeting, 24. 6 . Today it closed at 12. 78 a barrel, slightly higher than that in the aftermarket session. But black gold is not the only pressure thats really facing the markets this week. Even though we are in the green at the moment, take a look at some of the big economic events this week. We put together the calendar for you. Feds twoday meeting begins tomorrow. Their statement and News Conference on wednesday. They are expected to keep rates at 0 to. 25 . We will also get a look at First Quarter gdp on wednesday. Youve got many different estimates here but jpmorgan expects it to shrink 9. 9 . Look at this earnings week calendar. The busiest for First Quarter earnings. 12 dow components, 157 s p 500 companies are set to report. Big names like apple, amazon, facebook, microsoft, google parent alpha, alphabet, and tesla. Throw in ge just to name a few others. Wow. Amgen, whirlpool, visa, twitter. Lets get to the floor show traders. Phil flynn, will investors, no matter what the headline, seize on the good news or the bad news . You know, i think you can see by todays Market Action that they want to see some good news. You look at the oil market, thats telling you the global economys in the tank, its saying we will get really, really bad data this week, but look at the stock market. They are looking ahead. They are thinking this situation with growth is going to be transitory and they really are counting on Central Banks around the globe to keep the foot on the accelerator when it comes to stimulus, and that giving them hope stock values will continue to rise. We are seeing that today. Liz except that, you know, when we get First Quarter gdp, i think it is really important that people understand this is rear view mirror looking, but we are still in the throes of this coronavirus freeze for the economy, but there has been a 17. 3 drop in consumption. Anything that people consume, whether it is food, gasoline, anything. So the number is not going to be pretty. Is wednesday a tentative day for you on trade . Well, its got to be because people are going to look at that number, they are going to see the worst numbers since the Great Depression. It may even exceed some Great Depression numbers. You will see the economy at its worst when it really shut down, when everything, when the world stopped, and its going to be ugly. When they see that number, its going to scare a lot of people. But i think you have to have a lot of confidence that we are already seeing a lot of these economies start to reopen. We got the news out of japan overnight which was giving the market a bit of a boost that they are on unlimited qe and Central Banks around the globe i think are taking aggressive action to get us through this. I know that we are going to get through this. I really believe it. There is going to be a happy ending to this terrible story, and i think the stock market is at least signaling that to a large degree. Liz do we have scott redler on the phone . Scott, im very interested in your thought on this, because this is such a psychologically sensitive market, depending on the headlines. Today, it just feels like a brand new week, you have georgia reopening, that will be highly scrutinized, obviously, but tell me what you are really specifically looking at and gauging, especially considering we are getting names like apples earnings and these are market benchmarks and they do tend to move entire sectors. On the phone yes. We have the generals of the market reporting this week. Like phil said before, the market kind of looks past the rear view mirror. Right now, the market is focusing on business reopening, how are states reopening, how soon. Sometimes we know what we know and we try to figure out what we dont know. We dont know how fast business is going to bounce back. Right now, its all sentiment and at this point, every time like the claims came out which were historically horrendous, the market rallied on those days. Although on wednesday, the gdp is going to be historically horrendous number, its going to be how the market responds to reality and with the reports coming out its going to be very important. Netflix reported last quarter, that was one of the stayhome gems and it didnt do anything because it went too far, too fast and hasnt rallied since. Traders will be looking to see if a company like amazon thats supposed to be benefiting the most from this situation, if they cant rally on a great report, its showing you limited upside and the generals [ inaudible ] the reality really hits on this quarter and they guide lower, i think people trying to figure out what will apple do. Will they put thecut their buy raise their dividend . Apple is an unknown. We will watch very closely to see what they do. Are they going to be super conservative or are they coming out with the optimistic approach to keep everybody, you know, in line. Liz considering they were the first to warn, i think they are pretty even and honest, lets hope, on exactly what they are seeing, good, bad or ugly. Gentlemen, thank you very much. Phil flynn, scott redler. We are looking at 50 minutes before the closing bell rings. The dow is really only 15 points away from its session high at the moment. A lot of good will and good feeling at the moment but General Motors cutting the ignition on its dividend and buyback programs on an effort to preserve cash during the covid19 pandemic. Shares are up 2 , shaking off Early Morning sting of the news. Of course, gm is just one of the many tightening its belt when it comes to companies but the outbreak is giving one biopharma, you ready, failed drug a Second Chance at success. Up next, how one left for dead antiviral treatment is now being brought to the forefront of the coronavirus fight. The ceo is viralclear is here next. So i listen to audible almost any time that i can. 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Its the most reliable wireless network. And it could save you hundreds. Xfinity mobile. Liz well, look, a lot of Drug Companies are trying a lot of different things, but right now, we have dashed hopes that regeneron and sanofi. The testing of a Rheumatoid Arthritis drug they had collaborated on and repurposed to test on coronavirus patients, well, its been scaled back after initial trials showed it benefited only the very critically ill coronavirus patients versus those with slightly milder symptoms. But you know what, sometimes in pharma world, when one door closes, another one or maybe just a window opens. Viralclear pharmaceuticals, a subsidiary of biosync technologies, the stock is down 1. 5 , it is planning to run Clinical Trials on a molecule that was originally developed for the treatment of hepatitis c and also psoriasis but had been shelved after failing its hepc study. That droug is now showing cultures, real promise in cell cultures against covid19. So much so the mayo clinic plans critical trials for the orally administered drug and that will be relatively soon. We are happy to bring in ceo nick spring, who joins us live. Welcome. This is certainly encouraging. How did it come about that you turned to this old arthritis drug that was rejected a decade ago as a possible answer to covid19 . Good afternoon, liz. Actually, its not an old arthritis drug, its actually an antiviral drug. So the reason we went after this was that a few weeks ago, i got a call and i was asked by dr. Jerry zeldis, one of the cofounders, asking if i would be interested in helping with the covid crisis. The drug is oral which is very good, and its been effective against very fast replicating viruses, such as covid19. That was one thing. The second point was that because it had already been through a number of phase one and phase two trials, as they are called, and actually tested on 400 human subjects, you know, check the box to be safe and that looked very good. Then as you referred to already, the drug had been tested in cell cultures and there had been shown to reduce covid viruses by over 90 . More recently, a trial we did showed it reduced the culture itself by 98 . It was fantastic. Lastly, we felt that [ inaudible ]. Liz im thrilled, because the sooner, the better. But um im so interested to kno what specifically it was against the sort of you call it the drugs mechanism of action that made you think this will work . Is it simply that it was an antiviral . But there are a lot of antivirals out there. What was it specifically about this one . Oh, thats a very good question. So there were three major things. Firstly, the mechanism of action is it actually works on the host side of the situation. It stops the virus actually replicating. It interrupts the process and therefore the virus is starved of its essential pace for making rna which is essential for viruses. Thats one reason. The other reason we liked it a lot is the fact its oral, which means its very easy to give. A number of other drugs out there are ivs and injection. The third thing we really, really liked about it is it has a dual mode of action. It not only is a very broad antiviral, but its also caused an immunomodulatory drug which means it stops inflammation. When people ill with covid, they arent necessarily dying of the virus directly, but they are dying of or getting very ill over the side effects of the bodys reaction to the virus. Liz just tell me really quickly, when do you begin human trials . Im really pushing this along because we are all excited about it, at the mayo clinic. Right. Yes. So we started on this project six weeks ago and we have moved fast. In fact, one of our mottos is focus and speed. Theres three major founders between us with over a hundred years worth of experience. We have been able to jump into this. We actually sorted out supplies of the product itself, we sorted out the protocols for the actual Clinical Trials and we have submitted the other day the new drug application which means we should be into the clinics in the next few weeks, once the fda files that application. Its very very quick indeed. We should be treating real patients really soon in three of the mayo clinics centers. Liz will you come, please, and join us again in a couple of weeks to give us an update . This is extraordinarily important. Thank you so much. Thank you very much indeed for your time. Liz nick spring is to me a real hero because he has done many, many things. Came from merck, you know, he was behind the wildly successful launch of the hpv vaccine gardasil and many other drugs. Congratulations. Keep us posted. Georgia is taking the plunge and allowing doors to reopen, albeit very slowly. We are at session highs right now. Look at the dow, up 402 points right now, with 40 minutes to go before the closing bell. Atlantabased wing zone, winging its way through the pandemic and reopening fears right now that with the nfl already preparing for worst Case Scenarios for the Upcoming Season and mlb still on hold, could the football food favorite still find itself outside the end zone . The ceo Matt Friedman on surviving the coronavirus game of chicken, next. Z i came across sofi and it was the best decision of my life. I feel cared about as a member. Were getting a super competitive Interest Rate on our money. Were able to invest through the same exact platform. I really liked that they didnt have any hidden or extra fees. Sofi has brought me peace of mind. Truly thank you for helping me prepare for whatever the future has in store. Heres the thing about managing for your business. S when youve got public clouds, and private clouds, and hybrid clouds things can get a bit cloudy for you. But now, theres the Dell Technologies cloud, powered by vmware. A single hub for a consistent operating experience across all your clouds. That should clear things up. And sometimes, you can find yourself heading in a new direction. But when youre with fidelity, a partner who makes sure every step is clear, theres nothing to stop you from moving forward. Liz the small and midcaps are on fire. Look at the russell 2000. It is up more than 4. 5 right now and the russell 1000 is up 1. 8 which beats the gains we are seeing for the s p, the nasdaq and the dow, which are all up 1 plus. We just wanted to mention that. We know there are a lot of Small Businesses out there that are publicly traded. All right. Georgia. Georgia is currently the most intensely scrutinized state in the United States at this hour, as it reopens restaurants postcoronavirus shutdown. What they are doing is beginning with limited Dinein Service but if they want to open at all, okay, Governor Brian Kemp has said they have to follow a list of 39 different requirements. Among them, a limit of 10 customers per 500 square feet, and all employees must wear face coverings at all times and they have to be screened for illness. Lets get a realtime report on how the reopen is going. We are joined by cofounder and ceo of atlantabased chain wing zone, Matt Friedman, which has some 90 plus restaurants and multiple franchisees. Thank you for joining us. First, let us know how many of your stores have reopened and what are the reports youre getting from your franchisees on the ground . First of all, thank you for having me on the show. Wing zone operates two different models. One is wing zone takeout and delivery and the second one is wing zone grill and tap. Ultimately, our takeout and delivery model has been thriving in these times with the surge of curbside takeout and delivery. On the flipside, grill and tap has obviously been struggling, mainly because our dining rooms are closed and we rely so much on that consumer coming in for that dinein experience. Liz but today, as some of them, all of them, tell us what you are hearing from the franchisees on the ground about the big moment. You know, finally getting the actually dine indoors open. What is the deal of how that is going for you . You know, Public Perception is really something that a lot of private businesses need to take into account. When we first talked about opening our dining rooms in atlanta, there was some pushback and i think that where we took that was we are kind of in a wait and see moment right now. For us, we are going to sit tight for the next few weeks in our dinein restaurants. The stipulations that Governor Kemp has put in place is going to limit the amount of volume that a wing zone grill and tap can do. If our dining rooms seat 100, 150 people, we are really limiting that to about a third of those people. We rely on a big bar business. Ultimately our bar isnt going to work in this environment. Liz i see that because you have all kinds of restrictions but theres such an eagerness to get back to normal life. You are dealing with huge amounts of chicken wings. We are also hearing, im interested to know what your experience has been and what you are dealing with, we are hearing that at many Meat Processing plants, covid and the virus have really spread or there have been little hot zone pockets where they had to shut down some of these areas. What are you hearing and from your suppliers, are you seeing any kind of price hike . I know wings have been cheaper lately. Tell me what kind of reaction youre experiencing. Yes, so with fewer restaurants operating in the sports bar business and even wing zone type models, theres an increase in supply and decrease in demand. Wings right now are the lowest they have been in ten years but we do need to be conscious of the fact that the plants deal with a lot of labor, its a lot of close labor of people side by side, so we are keeping a close eye on that. Its definitely a concern. Weve got to continue feeding this country and making sure that restaurants can operate when we come out of this. Liz indeed. Final question. Youve got some 90 different stores, many of them are franchises. Did any of your franchisees apply for these ppp loans, the Small Business loans, and tell me how that worked, because weve got a refresh of a big chunk of money today that started at 10 30 a. M. Eastern. What has the experience of your franchisees been in applying for these loans . Yeah. Were mainly franchise based. We have franchisees all over the United States and in five countries but specifically about the u. S. We got in early with a lot of our communication to our franchisees, kind of supporting them through the process of not only operating their business but ultimately applying for ppp. Most of our franchisees have applied. They are local Business Owners in their community and its so important that they continue to employ people and make sure people are getting paid. As of today, most of our franchisees have applied. Only two have actually gotten their money. We are really optimistic that this next release of 310 billion will help a lot of those people out. Liz only two. Well, lets hope that this time around, you dont have the big boys sucking up a lot of that money that was meant for franchisees like the wing zone people. Good to see you, matt. Good luck. Thank you very much. Matt friedman of wing zone. Thank you very much. Liz we do have the closing bell ringing in 29 minutes. We are hold onning ing on to moe gains with the dow up about 391 points. Casino stocks getting a roll of the dice at this hour as j jerferies says quarantine rules could be lifted in may. Las vegas sands, mgm, wynn, all racking up the chips at this hour. Even with china and potentially las vegas reopening in weeks, is it too little, too late for Live Entertainment as sports and concerts remain frozen in time . In a fox business exclusive, live nation president on what his company is doing to stay alive through the pandemic and breaking news, the Sovereign Fund out of saudi arabia has just made a big investment in live nation. We will get the story coming up. I wanted more from my copd medicine thats why ive got the power of 1, 2, 3 medicines with trelegy. The only fdaapproved oncedaily 3in1 copd treatment. Trelegy the power of 1,2,3 trelegy 1,2,3 trelegy man with trelegy and the power of 1, 2, 3, im breathing better. Trelegy works three ways to open airways, keep them open and reduce inflammation, for 24 hours of better breathing. Trelegy wont replace a rescue inhaler for sudden breathing problems. Trelegy is not for asthma. Tell your doctor if you have a heart condition or high Blood Pressure before taking it. Do not take trelegy more than prescribed. Trelegy may increase your risk of thrush, pneumonia, and osteoporosis. Call your doctor if worsened breathing, chest pain, mouth or tongue swelling, problems urinating, vision changes, or eye pain occur. Think your copd medicine is doing enough . Maybe you should think again. Ask your doctor about oncedaily trelegy and the power of 1, 2, 3. Trelegy, 1,2,3 man save at trelegy. Com. Trelegy, 1,2,3 about medicare and 65, ysupplemental insurance. Medicare is great, but it doesnt cover everything only about 80 of your part b medicare costs, which means you may have to pay for the rest. Thats where Medicare Supplement insurance comes in to help pay for some of what medicare doesnt. Learn how an aarp Medicare Supplement insurance plan, insured by United Healthcare Insurance Company might be the right choice for you. A free decision guide is a great place to start. Call today to request yours. So what makes an aarp Medicare Supplement plan unique . Well, these are the only Medicare Supplement plans endorsed by aarp and thats because they meet aarps high standards of quality and service. Youre also getting the great features that any Medicare Supplement plan provides. For example, with any Medicare Supplement plan you may choose any doctor or hospital that accepts medicare patients. You can even visit a specialist. With this type of plan, there are no networks or referrals needed. Also, a Medicare Supplement plan goes with you when you travel anywhere in the u. S. A free decision guide will provide a breakdown of aarp Medicare Supplement plans, and help you determine the plan that works best for your needs and budget. Call today to request yours. Lets recap. There are 3 key things you should keep in mind. One if youre turning 65, you may be eligible for medicare but it only covers about 80 of your Medicare Part b costs. A Medicare Supplement plan may help pay for some of the rest. Two this type of plan allows you to keep your doctor as long as he or she accepts medicare patients. And three these are the only Medicare Supplement plans endorsed by aarp. Learn more about why you should choose an aarp Medicare Supplement plan. Call today for a free guide. Liz breaking news. We need to take a look at shares of live nation, jumping 9 right now. Shares of the Global Entertainment giant are spiking after saudi arabias Sovereign Wealth Fund disclosed it has purchased a pretty significant stake, 5. 7 of the company. Lyv is among the top stocks trading on the s p 500 right now. But in a world where live inperson events have been put on pause amid the covid19 pandemic with concert venues and stadiums and arenas shut down, how does a company like live nation, the largest Live Entertainment company in the world, operating in 40 different countries, stay alive . We are joined now by the president of live nation, joe berchtold. Great to have you here in a fox business exclusive. I will just get right to it. Shareholders responding very positively to this news about the Saudi Arabian Sovereign Wealth Fund taking this stake. What can you give us as far as details are concerned about that news . Yeah, certainly we think its great validation. You have a sophisticated investor like that taking such a large stake in live nation, clearly shows the confidence they have in our position, our potential. Its very consistent with what you saw last week with liberty, their reattribution of live nation shares, their decision that john and greg are personal slifting another 100 million to keep their stake in live nation because they see as we get through this, demand for concerts will continue, the shows that are not happening this year, 90 of them are rescheduling, moving into next year to set up a huge 2021. We see this as a very rough period certainly for a lot of people but we also see that when we get through this, we will continue to have a great concert experience, great concert business for our fans. Liz well, they are buying it at a discount. I mean, it was a 76 stock but it was also at the lows a 21 stock. Its at 41 right now. I guess the discounting is unfortunately, it makes sense considering the world of live concerts and sporting events and broadway shows have been frozen in time. But the stock was up already this morning before the news about the saudis because you guys just came out with this ticket relief plan, where Ticket Holders of postponed events can now get refunds. What led you to alter your policy to be more open to that . Certainly, we understand that challenges that everybody is going through right now, we dont want tickets to be part of that challenge. We have always been committed and on canceled shows, you will automatically get a refund. On rescheduled shows you will have the chance for a refund. The challenge over the past month for ticketmaster has been the same challenge as everybody else. We had over 50,000 shows globally impacted. Its more than we have had in the last ten years combined in one month. So we have had to just go through the process of show by show, first of all, ticketmaster is a platform so it had to go get cash back from the venues where it turns that money over to. Thus far, we already refunded over 30,000 shows, returned over 400 million to fans whan we want to do is come out with a very specific plan that we were clear, if a show is canceled you get a refund and the refund will get processed. For every show that gets postponed, we will open a window and make sure you have the chance to get a refund if you want. The reality is 97 of the fans that bought tickets to the show right now globally are keeping those tickets. They want to go to the concert. Another big demonstration of the strong fan demand there continues to be for our shows. We want people to have the choice. Thats what we want to clarify with this refund policy. Liz i absolutely think its a great idea. I get that a small percentage are asking for the money back. There are people right now who cant even pay their groceries. They think wait, i spent 200 on a concert that is postponed, i need that money now, good on live nation for doing that. Im very interested to know your thoughts on broadway. Broadway theaters, what happens there . When do you expect you might see any kind of change when it comes to reopening those theaters for live plays and musicals . Sure. I think that theres no question in general that fans are keeping the tickets. The survey i saw said over 75 of people want to be going back to live events within four months of when we get through this. So that demand is going to be there. I think whats important is that we let the facts and science dictate what is the exact pace thats going to take place. New york will be different than los angeles, different than london, different than singapore. I cant speak to the exactness of new york and Governor Cuomo seems to be doing a great job there, but i know certainly from our standpoint, we will look at our 40 countries that we operate in. I expect this summer as we put the safety protocols in place, as we figure out new ways to do better cleaning, temperature checks, potentially testing, you will start to see some of those clubs and theaters this summer start to do more shows and for the shows as i said that we cant do this year, we look forward to having a huge 2021 with a lot of those rescheduled shows. Liz okay. Im old school. Im waiting on sting and maybe the eagles. Some of these acts ive just got to see again. Joe, thank you. Good luck to you and the team. Really appreciate you coming on. Thank you, liz. Liz phil berchtold of live nation. Closing bell ringing in 18 minutes. Dow up 421 and climbing. We now stand at 24,199. Amazon, a river of dreams for weary investors on friday but the tide is changing today. Well be right back. There are times when our need to connect really matters. To keep customers and employees in the know. To keep business moving. Comcast business is prepared for times like these. Powered by the nations largest gigspeed network. To help give you the speed, reliability, and security you need. Tools to manage your business from any device, anywhere. And a team of experts here for you 24 7. Weve always believed in the power of working together. Thats why, when every connection counts. You can count on us. Daddy, i found you good job. Now im gonna stay here and you go hide. Watch your favorites from anywhere in the house with the Xfinity Stream app. Free with your xfinity service. Now any room can be a tv room. Stream live tv, on demand shows and movies, even your dvr recordings. Download the Xfinity Stream app today to stream the entertainment you love. Liz remember when south by southwest, that big festival, was one of the first events in the United States to be canceled due to the coronavirus . It was just a huge disappointment. You know the script said bummer but my mother does not like that word. If shes watching, im not going to say it. Huge disappointment for fans and party enthusiasts. But what about the artists who were just dying for their work to be seen . Well, the organizers of south by southwest are now partnering with amazon to actually stream some of the films that were slated for the 2020 Arts Festival with no paywall. Think of all the eyeballs. Nearly 40 short films and features have already signed on and of course, are available free now through may 6th. Amazon making some other big moves ahead of its earning season on thursday. The stock is down 1 . Lets get to cheryl in the fox business newsroom with more on amazon. Cheryl yeah, lot of news coming in on amazon as they, of course, get ready to report First Quarter numbers on thursday. As you can see, lets take a look at that stock once again because this is interesting right now whats happening with amazon. As you can see, its at 2383 and change. The stock is on pace for its second Straight Record close, if it can hold up a little bit. Well, its actually fallen. That might be off now. It was that way earlier this morning. Anyway, it hit an intraday all time high, 2461 and change on april 16. We are not there yet but we will try. The earnings per share estimate, by the way, 6. 33. That would be down 10 versus last year, and the revenue estimate, 73. 18 billion, a gain of 22. 6 over last years numbers. Analysts are making moves on the stock ahead of the earnings release. Credit suisse lifted their price target to 2800. Oppenheimer boosted to 2700. By the way, amazon also is piloting the use of video conferences to identify new merchants, trying to deal with fraudulent sellers since they cant deal in person. Whole foods has announced senior hours for grocery pickup, opening up an hour early for customers 60 and above in the United States and canada. The only thing about amazon that i have to say is a bummer at this point, pun intended, is trying to get amazon fresh delivery slot. Thats about it. Liz a disappointment. Not a bummer. Cheryl, thank you. Look at this. We are at session highs right now for the Dow Jones Industrials but dont forget, we do have a very strong russell 2000 as well. No, were not at session highs. Are we . 395 . I thought it was 400. All right. Okay. Second ago we were. All right. Im right on the ball here. Amazons new highs blasting it to the top of our countdown closer list. Up next, two additional names also bet on for a trifecta of profits no matter which way the market winds blow. Plus charlie breaks it when the claman countdown comes right back. Every Financial Plan needs a cfp® professional confident Financial Plans, calming Financial Plans, complete Financial Plans. Theyre all possible with a cfp® professional. Find yours at letsmakeaplan. Org. Weve worked to provide you with the financial strength, stability, and online tools you need. And now its no different. Because helping you through this crisis is what were made for. Liz own on this monday it is risk on. We have seven minutes before the closing bell rings. We have lots of green on the screen. High of the session were looking at 432 point gain, but now were up 397. When we started the show the nasdaq was up 99 points. It is now up 107. So the coronavirus quarantine for all intents and purposes for most of the nation still continues but so do the stimulus proposals. What could be in phase four . Charlie we were hearing it would be infrastructure. What are you hearing . I, liz, i think thats on the table. I think a lot of stuff is on the stable but the number on the table is pretty big. I think that is one of the reasons why the markets are up today. Another trillion is the word. Theyre throwing around the trillion dollar word. Here is how some of the elements of it. This is not put together just yet. There it withing political horsetrading going on. Pelosi democrats want certain things. They will want infrastructure. They want some state relief. Republicans are balking at that particularly a bailout of any type. We reported on your show exclusively illinois desperate need of potential bailout money. They have a bond issue coming in may. If they cant sell that, or step buys the proceeds they would be a candidate for any bailout. Mitch mcconnell has said no to bailout at least now. The other thing we keep hearing on the table, something art laffer put out there, the supply side economist, friend of mine i should point out, a really smart guy he is talking about a negative payroll tax. Im not an expert of intricacies of payroll taxes things of that nature, but from what i understand a negative payroll tax, something using the payroll tax system to infuse businesses with money. Instead of businesses paying government a tax, it is negative, because the government is paying salaries and maybe the tax of the employees for the businesses. So you get, it is a more streamlined way of getting money as opposed to the ppp, as you know, weve been reporting this left and right, second tranche of it and money should be gone soon. It is a bureaucratic nightmare in some respects. It is unclear rules. Systems not up to, you know, not working very well. The payroll tax system is in place. Been working for years. A very streamlined way. Art laffer, put, from what i understand, senator hawley is in favor of this, of this payroll tax, introducing legislation on this. I believe that is the missouri senator, josh hawley, correct, am i right on that, liz . Liz yes you are. You are absolutely correct. Republican, missouri. Republican. It is his baby as of now. Obviously first advocated by art laffer. The, again, there is going to be some horsetrading here unclear of a couple things, liz. Government is willing to throw as much money as they can. There are no atheists in the foxholes. Everybody is a keynesian these days. Money will flow. Donald trump, he advocated supplyside econmics, less government, he is throwing the full weight of the government to alleviate the Economic Impact that this thing is still, this thing, meaning coronavirus, and the economic shutdown is having on the American Economy which is pretty devastating. Again wall street is up on some of this stuff, liz. The main street economy is still hurting. If you listen to howard schultz, former chairman of starbucks he was talking about how the ppp money, those loans will be taken in, spent by companies that will still go out of business because of the impact this whole thing has had on the economy and on, on their lives. Again, negative payroll tax, trillion dollars, lots of money. Its coming, another round. Liz yeah. Stay tuned for the various impacts. Back to you. Liz charlie, thank you. Im just looking at the federal budget deficit, 2. 5 trillion. Forget about that. Lets get to sarge. Markets are going up right now but our next guest looking for rocket rides. Sarge, three names, what are they . Do it really quick. Amazon, freight train. Running away. Heard about it from cheryl. My target price 2650. Based on ecommerce, whole foods and amazon web services. We know they had to hire 100,000 people. They have to hire 75,000 more. The only hiccup from vendors. They have smaller marketing budgets. If goldman is right if we get a little move off 2450, the recent high, the pivot may have to move from 2185 up to 2450. Which will make the new target price [inaudible]. Liz teledoc. Up 110 yeartodate. If it is going to be up 775 . I expect this one, it is just so good, probably taking profit the before wednesday and load up on when the professionals sell it on thursday. Apple, i am the least sure of, okay . We know they push out iphone production. We know consumers will not be aggressive this year. Theyre relying on services more than anything else. Im not long apple. Short fair spread. I want it to go higher but, i expect to see that discount by thursday evening, maybe friday morning. I want to buy apple cheaper. [closing bell rings] liz you got it. Sarge, great to have you own. Thank you so much. Its green on the screen with the dow up 357 points and a riskon day. Melissa getting americans back to work. Stocks climbing today as more states move to reopen their economies. Im melissa francis. Connell im connell mcshane. Welcome to after the bell. Terrific day for stocks. Averages closing up more than 1 across the board. 1 1 2 for the dow, back above 24,000. President trump set to meet with industry executives in the retail industry. That is happening any minute from the white house. Then he will address the nation in about an hour talking about new testing guidelines. We will bring all the headlines throughout the hour but we begin with fox Business Team coverage of our t