Transcripts For FBC The 20240703

Thank you so much, sir, appreciate it. Good afternoon, everyone. Im Ashley Webster in for liz claman. Were seeing green across the screen. All the major indexes moving higher as you can see, but we are off session highs. And when you look at the intraday chart, you can see that all three indices spiking up right around 1 p. M. There you go, you can see that moving on up less than an hour after House Republicans voted in a closed door meeting to elect republican majority whip tom emmer as their nominee for speaker of the house. Now, the nomination has a long way to go though, he needs the votes. And well start with a vote on the house floor. Fox news senior Congressional Correspondent chad pergram is live on capitol hill this afternoon. Chad, whats the timetable from here . Reporter well, theres no timetable right now because tom emmer is in this room right behind me listening to his opponents. He won this race against mike johnson, got 117 votes, mike johnson 97, but that is a far cry from the 217 he needs to have to win on the house floor. Were told that he has about 200 or so is members who would vote in support of him. Im told that this is doable but tough. I spoke earlier with Republican Representative Ken Buck of colorado. But with, yeah, i think it is different person, same problem. Problem is people are is are to want to get to 3218. And im hopeful to 218. I dont know, i think tom doesnt want to to go to the floor until he either has 217 or gets are close to 217. Reporter they keep describing this to me as the airing of grievances inside this room as tom em or is listening to his detractors. One person who hes probably not going to get is jim banks, republican of indiana. Jim banks anticipated that he would vote no on the floor against tom emmer. Listen. I cant go along with putting one of the most moderate members of the entire republican conference in the speakers chair. That betrays the conservative values that i came here to fight for. So im, i hope theres a change along the way. He doesnt have the support in the room right now. Reporter emmer is hearing from these members, and im told its onesies and two says about what their grievances are with his candidacy for speaker. I spoke earlier with ely crane, republican of arizona, who said the base so posed to him, and thats why the telephone lines are lighting up on capitol hill. I also spoke with a republican from pennsylvania who endorses him but says some of the problem is the fact that he voted to certify the president ial election from 2020. Mr. em orer agrees with me that the election was not stolen. He voted to certify, as he should have. There are some people that are criticizing him for that. Reporter thats some of the criticism in the room right now in. Yes. Reporter the fact that he votes to certify. One of them, yeah. Other people, you know, just dont like anyone cently in leadership. Currently in leadership. Reporter we just got a statement here the from former President Trump about tom em or, and that is what he said, emmer never respected the power of a trump endorsement. Hes out of touch with Republican Voters and voting for a globalist rino like tom emmer would be a big mistake. So far from the clear as to whether or not tom emmer can get the votes. He got fewer votes hand jim jordan did just about a week and a half ago. Back to you. Ashley my goodness. Chad, so much. On we go. Well have to continue to follow that, of course. Chad, thank you. Lets get back to these markets. We are moving higher. The bulls, well, theyre making a run for it at this hour hoping to secure a muchneeded win. The s p 500 is lifting off of its lowest level since may 31st and on track to snap a fiveday losing streak. The nasdaq on pace also for a second day of gains in a row, and the dow rebounding off of fivemonth lows and set to snap a fourday losing streak the as well, the dow higher by 250 points. At one point it was up, let me see, the high so far of the session is up 335. The dow being propelled by verizon, 3m, cocacola after their upbeat earnings as you can see there. Verizon also taking the top the spot, by the way, on the s p 500. General electric, number four. As you can see, theres the numbers forral a pa bet and microsoft as well alphabet and microsoft as well. Ge raising, a raise on increased demand for its aerospace business. That helped. By the way, 30 of the s p 500 set to report this week. Its a biggie for earnings, and among them microsoft and alphabet coming up right after the bell. Ahead of the report or, both of those stocks moving higher. Alphabet google up 1. 5 . Were going to preview what to expect, by the way, from big tech with premier tech analyst mark mahaney. Be interesting to see what mark is expecting from big tech. But first, a quick check on one of the biggest movers on the session, bitcoin. Topping 35,000 this morning, thats a 52week high on etf optimism. Will the sec finally give its approval . Anyway, or lets dig into whats driving all of this positive market momentum with our floor show. Joining me now is cfra researchs chief investment strategist sam stole, and from the floor of the cboe, scott bauer. Gentlemen, thank you both. Sam, whats todays sentiment about . Weve seen treasury yields stabilize, weve seen some pretty nice earnings reports. Is that the main reason for perhaps more positive attitude today . Yes, ashley, i think those are the two primary factors with with the 10year yield peeking its head above 5 and causing investors to experience a chill go down their spine. Now by having it dip back toward the 4. 8 area, that has allowed investors to breathe a sigh of relief. Also as you just mentioned, onethird of the companies in the s p 500 are reporting earnings this week. And as we headed into the week, expectations for the full reporting period was the s p down 1. 5 . But investors remember that in 54 of the last 56 quarters actual results exceeded end of quarter estimates. And so i think wall street is on the optimistic optimistic that itll happen time as well and maybe push us into the green on a yearoveryear basis. Ashley and, scott, is this partly was we set the bar so low these days . And also its interesting, isnt it, you expect higher Interest Rates to slow the economy, to impact Third Quarter earnings, and yet here we are. Just another example of the resiliency of both the economy and the consumer which are the same. And, ashley, that the word, resiliency, because all expect with Interest Rates the way they are a lot of these high growth and hightech stocks, that they would have worse numbers. But, yes, the bar has been lowe. Azzam said, 54 of the last 56 have beaten, i expect this to be another one. And valuations, quite frankly, have gotten to a point for a lot of these big tech, big Growth Stocks so low that any beat here and any sort of positive guidance, this could really be a sustained rally going into the end of the year. One thing i want to really point out, right behind me is the s p 500 options pit. Right next to me is the vix pit. Now, the vix we all know, people look at it as the fear index. The higher the vix goes, the more fear there is. Typically that happens when the markets selling off. On a daily basis, typically we will see calls outtrade puts by about a 2. 5 to 1 margin. Over the last week, we have seen that almost flipflop where its a 1 to 1 ratio. To me, thats telling me that the sentiment, the retail paper coming in when vix got to that 322 and 23 handle 22 and 23 handle last week which was the highest since march, people said enough is must have, and they started coming enough is enough, and they start buying put options instead of call options. Whether that was a market bottom call or maybe just saying, you know what . Volatility is not going any higher here in the near term. Thats what i saw last week leading into the big earnings that were seeing this week. Ashley thats interesting point, scott. Sam, could we have seen perhaps a little bit of a bottom even though, of course, we could also always take a step lower, such is the nature of the markets. But, you know, maybe some people jumping back in here saying, hey, theres some good stocks to be had at good prices. Absolutely. I take a look at the 153 subindustries in the s p composite 1500 index, and we recently saw only 8 of them above with both their 50day and 200day moving averages, and that is usually a sign of downward excess imflying that were pretty imflying that were pretty close to a bottom, if not getting ready to recover. And certainly we had the final shakeout possibly yesterday with the better results today as the yield withs came down yields came down and earnings are coming in. So maybe we are due for that enof end of year rally. And in the preelection year Fourth Quarter for first term president s since world war ii, the market has never declined and has risen on a total return basis nearly 6 . Ashley i feel better already, sam. [laughter] very quickly, scott, we have a lot of analysts who say, wait a minute, we are going to pay the piper eventually, probably next year. Again, were talking about soft landing, hard landings. How do you see this playing out next year . Yeah. I think that were already in a recession, to be quite honest with you. Not a deep one, but i know what the technical definition is. By technical definition were not there, but i think that main street already is. So if we, you know, some of the analysts are talking about being there next year, i think were are already there. And i do think though there is the possibility of a soft landing. It certainly looks, at least according to all expectations right now like the fed is not raising this year. The probability even into the First Quarter of them raising rates is less than 30 . So almost 70 president chance by 70 chance by First Quarter next year that rates are going to be the same. So i think the market is very accepting of that. And if we do have a recession from the technical standpoint, which i believe were already in, i think it could be very moderate. Ashley well, i feel so much better about things. Sam and scott, thank you both, gentlemen. For raising my optimism. All very good stuff. Thank you both. Now this, the eighth installment of the Mission Impossible franchise has been postponed for a year. Why . If well, actors strike surpassing three months and still going. Major studios and the Union Returning to the negotiating table today. Well have the very latest on that. Lets take look at the studios stock for you, comcast, disney, netflix, pair paramount. Its a mixed bag. Walmart and the disney moving lore. The claman countdown is coming right back. adventurous music be ready for any market with a liquid etf. Get in and out with dia. This is american infrastructure. Megawatts of power, rails and open road, and essential services of every kind. All running on countless invisible networks, making it a prime target for cyberattacks. But the same aipowered security that protects all of google also defends the systems running americas infrastructure. For these services. For the 336 million of us living here. 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From your first big move to retiring poolside and the other goals along the way. Wealth plan can help get you there. J. P. Morgan wealth management. Nice footwork. Man, youre lucky, watching live sports never used to be this easy. Now you can stream all your games like its nothing. Yes [ cheers ] yeah woho running up and down that field looks tough. Its a pitch. Get way more into what youre into when you stream on the xfinity 10g network. Heres why you should switch fo to duckduckgo on all your devie duckduckgo comes with a builtn engine like google, but its pi and doesnt spy on your searchs and duckduckgo lets you browse like chrome, but it blocks cooi and creepy ads that follow youa from google and other companie. And theres no catch. Its fre. We make money from ads, but they dont follow you aroud join the millions of people taking back their privacy by downloading duckduckgo on all your devices today. Nice footwork. Join man, youre lucky,ople takwatching live sportscy never used to be this easy. Now you can stream all your games like its nothing. Yes [ cheers ] yeah woho running up and down that field looks tough. Its a pitch. Get way more into what youre into when you stream on the xfinity 10g network. Ashley all right, some breaking news for you, or we already told you about nvidia and amd getting into the pc chip businessful well, now qualcomm has Just Announced two new chips, one for desktops and laptops and one for highenandroid phones. Qualcomms chip will be based on arm and will compete with intel. The stock itself up 1 in todays session. Now to this story, the hollywood actors union, theyre back at the negotiating table today with major studios in hopes, of course, of reaching a deal to end the 103day strike and salvage the 2024 Summer Box Office and the 20232024 tv season. Lots riding on it. Lets go live to reallily kelly ogrady, where do these stocks talks stand right now . Reporter the big four studio heads are going to present a new proposal today, and they actually reached out to the union over the weekend to resume negotiations. Thats certainly a positive sign. Remember, talks broke down about who to weeks ago primarily over streaming residuals. The union had proposed a fee for every streaming subscriber. Studios called it, quote, an untenable economic burden that would run an extra 800 million per year. Of course, another key piece of this though is artificial intelligence. Profit rather than subscribers has been an ever growing focus on these earnings calls, and a. I. Generated con content could be a big way for the streamers to get there. Actors are looking for protections and, of course, so that they dont get pushed out of the business. Experts in the Entertainment Industry tell us this really could be a water shed moment. A. I. Is probably the single most thing thats going affect the entire industry. Artificial intelligence and computers can do it faster, quicker and cheaper. So if the industry takes the position that we care about the bottom line and the bottom line only, then i do believe that creativitys going to suffer. Reporter studios though, actually, theyre face thing shortterm financial pressure. Many major productions have been delayed. Paramount Just Announced that Mission Impossible got pushed from next summer to memorial day of 2025, deadpool 3 also recently pushed back with, Stranger Things season five delayed. Theres an interesting dynamic here. Netflix could actually be better positioned to withstand the strike than franchisedriven studios like disney. They can still film a lot of content overseas like a squid game, but both sides are definitely looking for a resolution. The Economic Impact to the industry has reached over 5 billion at this point, tenses of thousands of jobs have been lost since may. So fingers crossed these talks move forward today. Ashley lets hope the solution is not Mission Impossible, for sure. Kelly, thank you very much. Interesting stuff. Well continue to follow that. While movie and tv content is delayed, well, guess what in theres always gaming. Esports leader phase clan brings its video Game Trophies and founders, guess what . 9 into the fold of Dallas Cowboys owner e jerry jones portfolio. Were going to talk with the ceo in just a moment. But first, lets take a look at video game stocks, ea sports, microsoft, of course, nintendo, roblox and take who two bear active, theyre all moving higher except for take two which is down a third of a percent. Well be right back. We got this. We got this. We got this. We got this. We got this. Yay we got this. We got this life is for living. We got this lets partner for all of it. Edward jones this is a special alert. Israel is under attack and israels enemies seek our destruction. The people of israel need immediate help. Rockets have us squarely in the crosshairs. Our people are targets in their own homes. Many have lost everything and fear for their lives. The International Fellowship of christians and jews has launched an urgent response to rescue those affected by this violent attack. Our teams are on the ground across israel delivering lifesaving aid. Your urgently needed gift of only 45 will help rush food, water, medicine and emergency supplies for jewish families that have nowhere to turn. Time is literally running out. What we need you to do is to act now. Every day, more dog people, and more vets are deciding its time for a fresh approach to pet food. Theyre quitting the kibble. And kicking the cans. And feeding their dogs dog food thats actually well, food. Developed with vets. Made from real meat and veggies. Portioned for your dog. And delivered right to your door. Its smarter, healthier pet food. Get 50 off your first box at thefarmersdog. Com realfood ashley jerry jones investment portfolio . If guess what . Its growing. After Gamesquare Holdings backed by the thats cowboys owner is set to buy video game influencer and Esports Company phase clan in an allstock deal worth about 17 million. Once the esports purchase is complete in the Fourth Quarter, jerry jones will own 55 of the combined entity while phase shareholders will own the other 45 . Now, the acquisition comes after phase made its debut on the nasdaq last year i have. A concern via a spac merger with a valuation of nearly 1 billion, but the poplar genz bran has since plummeted, and today the market cap is just 14 million. Guess what . Joining us now in a fox business exclusive life from the game square headquarters in texas is ceo justin keller. Justin, great to see to you. Let me begin with, you know, having just outlined the problems that weve seen with faze clan, why do you think it makes sense to game square . Yeah, absolutely s. And thanks for having me. I was actually formerly the cfo at faze clan, so its a bit of a full circle moment for me. Ashley wow. Talks really initially began faze, weve been a client for some time, so talks initially began around strengthening that partnership. When it became evident to us that they would be looking at a potential liquidity event, you know, we saw this as a huge opportunity. I reconnect with the faze founder s which was really important, got their backs and support backing and support and here we are. Were extremely excite to be combining the worlds biggest bran in this space brand in this space to be able to monetize that audience. Ashley talking of monetizing, you kind of, what, you focus on the youth culture, i would assume, with these products. Let me ask you what kind of monthly audience are you attracting right now . Yeah. I mean, the monthly audience is staggering. I mean, we are combining the biggest creators in the space. Our current talent of tim the tap man ninja, athletes such as trayvon decision, compliancing combining that with some of the audience, so the combined audience of faze clan complexity and now Media Network actually reaches a billion fans. We have the largest audience in gaming bar none. But importantly, i think with the game withsquare infrastructure and especially given the markets were in today, this isnt just about the story and the audience, its truly about monetizing that audience, and thats what we think gamesquare brings to the table with the huge sizzle that faze clan brings. Ashley you merged with engine gaming and media earlier this year, and at the time you said the merger transformed the gaming and esports industry. You hoped to be on the path to profitability this year. Hows it worked out so far . Yeah, its be been great, and i think this should give shareholders, you know, really great confidence that we have the ability not only by combining these entities to get to scale, but importantly, reduce cost. These tougher markets right now, its expensive to be a public company, so weve combined three entities soon with the closing of the faze deal in q4 to get to scale and, importantly, pull out a lot of costs here. We identified and called pulled out close to 8 million in annual cost with the engine deal, were aggressively pursuing profitability and very much on the at of that path to that within q4 of this year, and weve identified around 18 million annualized cost savings at faze clan. Were going to be aggressively pursuing profitability, and we think consolidation and getting to scale here is are really key. Ashley i have to ask you before we have to to let you go, justin, you know, jerry jones is perhaps famous for his handson management style, lets put it that way. Does he have a lot of say in what you guys do . What kind of interest does he have . Yeah, i mean, the jones family have been fantastic. I originally explained the tap man as signing Aaron Rodgers if we didnt have dak prescott, and the example was tom brady, so so we definitely used a few football analysis analogies. Theyve been incredible supporters, and i think thats a huge plus for the esports industry and the gaming industry mored broadly. Ashley very quickly, justin, you also had said earlier in the year that you foresee a billion dollar valuation, maybe three years away. Are you on track . Yeah, were on track. Were, you know, were keeping our head down. Were, you know, pulling costs down, were continuing to grow revenue. Ashley right. And we feel really good about where were headed. And i think as the markets start to turn, were going to be in a really good spot. Ashley well, congratulations on this latest deal. Clearly just moving onwards, or forwards and upwards. Justin ken that, thanks so much for joining us from frisco, texas. Thank you so much. Thank you. Appreciate it. Ashley thank you. Let the games continue, why not . Shares of Online Sports and Gaming Company draftkings winning on wall street today after Moffett Nathanson upgraded the stock from neutral to buy and hiked the price target from 31 to 37 a share. The brokerage citing product enhancements which include strong parlay options, 22 out of 23 brokerages have a buy rating or higher on this stock the, today up more than 3. 5 . Shares up more than 150 year to date as a well, we should mention. Meanwhile, spotify, good day for spotify, in sync with investors at this hour. Shares powering higher for the music streamer, posted a surprise Third Quarter profit. The results largely driven by stronger than expected subscriber and listener growth. Spotify adding 6 million paying subscribers during the quarter compared with estimates for 4 million additions. Spotify really pushing higher today, up nearly 10 . Kimberlyclark, meanwhile, shares under pressure after the Parent Company of brands including huggies, kleenex and continue knell reporting below expectations. The Consumer Goods Company did, however, beat on profit. It also boosted its annual profit forecast for the third time this year. The company seeing resilient demand in the face of price hikes. The stock, though, down 1. 5 . And aerospace and defense Rtx Corporation looking skyward. Shares are on pace for their best day in three years. After the company beat Third Quarter estimates and approved a 10 billion Share Repurchase program. Rtx, by the way, also raising its fullyear outlook. Of course investors love it, its up more than 6. 9 5 . Now this, israel is intensifying airstrikes in gaza as it faces pressure to delay a ground invasion. This as hamas releases two more hostages. 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The you having secretary general must resign, he must resign [cheers and applause] and he must do it today. Ashley well, the israeli ambassador to the United Nations demanding, as you could hear, the resignation of u. N. Secretarygeneral Antonio Gutierrez after he said in a Security Council meeting today that the, quote, Palestinian People have been subjected to 56 years of suffocating occupation. All of this comes as Israeli Defense forces step up airstrikes saying they are already and determine for the next stage of war as intense talks to free more hostages goes on. Hostages so far two american, two israeli have been released with more than 200 still believed to be held by hamas in gaza. Local israeli media also reporting the idf is delaying the ground offensive as it makes tactical and strategic considerations. I want to bring in the president and chair of the Jcc Association of north america now. Darone krakow is in israel as we speak. His son, as we mention, has also been called up to the israeli army. Let me begin with whats the mood in israel right now in were 17 days after the barbaric attack by the terror group hamas. How would you describe the food today today . The mood today . Ashley, first of all, im very pleased to be with you. The mood here is deeply troubled. We have not yet finish burying our dead from the barbaric attacks of october 7th. There are still bodies to be identified that were damaged to such a degree that even dna identification has not been possible to date. There are upwards of 3200 people who are 2900 people who are still 200 people who are still missing in action, it is not clear if they are in the hands of hamas in gaza or not. There isnt a family in this country that is not mourning a loss or or fearful of the fate that awaits a friend or relative in the hands of the terrorists. And we know that an escalating war is in the offing. So the mood here is tense, but it is also absolutely resolved and determined. Ashley you know, you mentioned, you know, were waiting for the next stage of this and that the goal has been stated by Prime Minister netanyahu and others that they just want to stamp on hamas, wipe it out. And i guess the question to you is, is that possible . Look, that remains to be seen, and clearly beyond the scope of my personal expertise, though israels vaunted citizen army has demonstrated extraordinary capability in the past, and i expect in that ifs that is the determined goal of this effort, that they will succeed in achieving that goal. At a minimum, eliminating hamas ability to wage war against israel and eliminating its role in the Political Leadership in the gaza strip. Ashley i want to talk a little bit about the reaction that weve seen in the United States. Weve seen some very big protests, propalestinian protests, you know, both on College Campuses but in some of the major cities. Does that surprise you . It doesnt surprise me, but i think its important to draw a cities 2006 between a distinction between demonstrations in support of palestinian sovereignty and palestinian rights in the face of a complicated geopolitical environment and demonstrations in support of hamas which is a designated terrorist organization not just by the United States of america and israel, but by the entirety of the western world. Demonstrations in support of the heinouses and horrific acts of hamas which is responsible for the worst slaughter of civilian jews since the defeat of nazi germany is an affront. Thats not to say that there isnt a legitimate basis to advocate on behalf of civilian rights for palestinian citizens, for a twostate solution for political achievement, but supporting hamas is beyond the pale. They are a murderous, barbaric terrorist organization, and so seeing demonstrations promoting their message and promoting their agenda is an affront not just to j jews and to israel, but to the byer free world. Ashley and we have seen a rise in antisemitism. Weve spoken to several students on campuses who say they dont feel safe. Weve had incidences of businesses being targeted. Weve even had swastikas being placed in sop of these which is some of these which is absolutely reprehensible. Does that surprise you . I would say the level and degree to which students and members of our community have been made to feel unsafe by the actions of those who are supporting hamas and are viscerally antiisrael has taken us a little bit by surprise. I think in times of political and social discord forces of evil that lurk below the surface are somehow allowed out. I think we are living through a time of dedivisiveness in our society and in the western world. I think were living through a time of accusation and allegation and victimization. I think, unfortunately, jews have often found themselves on the wrong side of these kinds of times throughout history, and so therefore, while we are surprised by the extent of it, i dont think we should be surprised by the nature and the existence of it. That having been said, in a free society we have a right to stand the up for ourselves, for our rightses and to expect rights and to expect the country to deploy itself in defense of freedom, freedom of expression, freedom of identification and freedom. To stand with our allies and the members of our people. Ashley absolutely. And very quickly, d the oron, have you managed to stay in touch with your son . Hows he doing . I appreciate your asking. We had my son home for a 24hour leave where he got to spend a little time with his wife and his nowtwomonthold son, his first born. Before he headed back to his unit which is stationed in the north. These are tough times. We dont know whats in the offing, but we do know that this military confrontation is going to be a bloody one, and so we like every member of Israeli Society are Walking Around with knots in our stomach concern concerned about his safety and looking after one another here. I made the trip here to israel in order to watch over my daughterinlaw and grandson until hi sons safe return until my sons safe return. Well, we appreciate, dorom, very much that you took the time the talk to us, and we wish the best to you and your family. Thank you for talking to us today. Thank you, ashley. Ashley thank you. Now this, gm is idling more workers as the uaw has expanded its strike to a crucial General Motors suv plant just hours after the automaker reported earnings. Going to have a live record on that next. Of course, the the claman countdown is coming right back. Is made for sam who makes, everyday products, designed smarter. 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Ashley breaking news, General Motors stock falling at this hour down two 1 3 after the company Just Announced it will lay off an additional 139 uaw members because of the strikes earlier today. 5000 uaw members joined the picket lines at gms largest plant in arlington, texas. According to the uaw that arlington plant is gms biggest moneymaker, producing suvs like the chevy tahoe, chevy suburban, and chevy escalade. Doesnt seem to be getting better. Jeff flock is outside after Gm Distribution Center in pennsylvania with the very latest. Hah there, jeff. Reporter ashley, you would think on a day where you announce a three billion, with a b profit in the Third Quarter, that would be a good day for the company. Not so much for gm. Some way it adds fuel to the fire. By the way there is fire back there, theyre trying to stay warm out there. Adds fuel to the fire the uaw is building, making the case gm is making a lot of money so they should too. They have pictures of the arlington plant a short time after the workers walked off. As you point out they make the big suvs down there in arlington like the ones you mentioned and those suvs cost big dollars and make big profits for the company. Mary barra on the Conference Call says i agree we make a lot of money but i will not do something that will bankrupt this company down the road. Here is how she put it on the Conference Call. The current offer is the most significant ever proposed to the uaw accepting unsustainably high costs put our future and gm team members at risk is simply something i will not do. Reporter if you look at the numbers of workers on strike with that additional 5000 it is up to 45,000. That is about a third of the uaw Overall National membership. Ford about 16,000 plus, gm, stellantis each 14,000 workers on strike. As for losses gm says today it is losing about 200 million a week. If you put that together with ford and stellantis, the total loss thus far in the strike, about 4 billion. Suppliers big losers too, almost three billion. Dealers, customers, another almost two billion and the striking uaw workers have for scene about half a billion dollars in wages. Gm and tell lant tis got a surprise strike yesterday at its Sterling Heights plant reacting to these strikes and the folks at stellantis saying quote our very strong offer would address uaw