Corporate welfare, spending billions of dollars to guarranty the Richest Companies in the world but where is your part . All that and much more on making money. Charles stock of the day, folks Charles Schwab, Td Ameritrade jumping on news, fox news learn the two plan to merge. Jackie deangelis on the potential take over. Good afternoon, charles. That is a lot of green on the screen. I realize what im wearing here but our colleague Maria Bartiromo did break this news this morning. Im waiting for companies to confirm it. Charles schwab is expected to buy Td Ameritrade for 26 billion. Combine the companies together, the assets are worth five trillion. Which puts the combined company in a Different League in terms of the competition. Ceo Walter Bettinger will run the new companies. The theme of the industry is consoledation. The current environment has been pretty tricky for these companies. Commissions eliminated. Schwab was one of the First Companies to do that in october. Flipping tables and disrupting things. People were worried that schwab would see a reduction in revenues once commissions went away. Schwab said new client accounts went up 31 in october. It somehow managed to balance the business. You mentioned as we opened, others looking to see where we see more mergers in this space. Etrade, interactive brokers, those are names being tossed around, certainly ones to watch. Back to you, charles. Charles jackie, thank you very much the merger news this year has seen a dearth of deals. Is that about to change . David dietze, and Heritage Capital president paul schatz. Paul, so far this year we had 1. 5 trillion in deals in north america. Sounds like a lot but it is nothing. Last year two trillion. 1. 9 trillion going back. Even further than that a lot more. Shocking were at record highs. You would expect record deals as well . You would. What are people doing . Theyre buying back the stock instead. That is what is in vogue right now. Before the bull market end there should be some kind of a merger mania, take over mania, whether gets saw in the 80s where it was outlandishly crazy. Yet to be seen. I will give you a couple. Gw pharma, people think its a cannabis stock. It really isnt. I think that one, at least double from here is one. The charles do you think a regular Biotech Company would make a bid for them to have access to that sort of cannabis Biotech Company, or more than likely a Big Health Care company for sure. I think that is, easy takeover. Charles all the other ones. I want to get david. I want to find out are you surprised at death of major deals . Is it about buying back your own stock . Could we see this all change . Certainly fourmonth ago we were talking being on edge of recession, yield curve inversion, the fed had to start cutting rates. That put a pause in a lot of company as plans to get bigger. We gotten past the soft patch. Fed is on pause because of a better economy. Stock market back to alltime highs. I think we could play catchup for next six months. I agree with you for m a activity. My sector is Electronic Component and distributors. Weve already seen strategic buyers. Weve seen private equity jump into the game. Apollo, clayton have bought two of those companies, astor international. Two i would highlight this afternoon, Aero International and avnet. They have lagged the market. Charles hate to say it two very old boring names. It is interesting because if you look at Td Ameritrade and Charles Schwab, this year coming into todays session, schwab was up less than 8 . Ameritrade was down 16 . Over last three years Charles Schwab is up 14 1 2 . Td ameritrade is up 1 . Viewers watching the show, i want to be in the next big takeover, that is big money overnight. Is that one of the things youre looking for, like stocks that lagged or does that matter . For me it doesnt matter. Im looking where sectors have been dormant forever. Schwab and td, regional banks, except for the suntrust merger, they have been dead for years and years and years. I mean, that sector is screaming for goldman, morgan and bank of america to get involved, get some act at this time going. That is where you could see a real boom at the market peek somewhere down the road. Charles here is a a theory i have i like deals almost all cash. When a company is trading alltime high but still using cash, what they tell shareholders we think our stock is going even higher and it is much more valuable than cash. I love, for instance i would buy Charles Schwab because it is mostly a cash deal. They are suggesting we would rather spend cash than our stock at this level. Sends such a strong statement. When theyre offering the stock you dont know quite what the stock will be worth by the time the deal closes. A much tougher decision to make on the part of the target. You set a cash amount, youre saying exactly what you will do. It is much easier thing for the board to agree on to get the deal done. On takeovers, the invest in the short term. Gets all excited. My stock is up 2, 3, 4, 5, 20, 30 whatever the number is but in the long term a lot of times the company would be better staying off by themselves going solo. It is shortterm gain but they forget about the longterm gain. We love the pops. Waking up, see your company taken over. Charles number one percentage gainer feels so good. What feels so kickky the conversation going on what the heck is going on with trade. China trade official, from the Chinese Ministry said that were negotiating. And we could have fights and negotiate at the same time. Like stories come out, like theyre at each others throats. Of course that is what happens in negotiations here is my bet. This is what im saying this is my theory i think President Trump is going to push off these december 15th tariffs no matter what, with or without a deal. If that happens what does it mean for the market . It means, it is like the market on fire i think. Quite frankly trade is what makes the world go round. Taxes are completely antithetical to growing economy. Tariffs are a tax on trade. If he pushes that off, i think market much higher. We have breaking news. President trump is weighing new trade investigations with respect to the eu. Well get more deis tails on that. Coming into the week a lot of speculation trump would push off potential tariffs on european autos. We heard, eu guy draghi . Charles no the other guy, junk juncker. That is not impacting the market. Were up 12 points since we started our conversation. Tariffs are out there, before we hit the eu thing, china is much more important to the market right now. If President Trump pushes the tariffs off, what does it mean for the market . I think every day, week, month, quarter, the market is getting more and more comfortable with the tariff tantrum. The tiff going back and forth. Things are going back and forth. Alltime highs, were pricing in a lot of good things down the pike. Market is pricing part of this happening or not happening on december 15th. Market is pricing in we wont have all out trade war with the eu if the tariff thing falls apart, clearly we have problem. Good news on the trade front, get a half, full percent kick that day. Charles thank you both very much. We should point out there are 360 billion in tariffs already in place. Our economy and our stock market has done okay. Thank you both very much. Happy thanksgiving. You too. Charles United Auto Workers president gary jones is stepping down as a allegations in a lawsuit. Theyre accusing them of bribing Union Officials to get more favorite contract terms from the uaw. Jeff flock is following all of this corruption. Jeff, i got to tell you, another chapter in a really tough, tough history here. Reporter oh, boy. This is getting crazier by the day, charles. We already knew about the corruption at the union but it is now led to gary jones removal as the president. I say removal, he did resign but the board was set to remove him as president of the union for embezzling member dues, spending lavish sums on cigars and fancy hotels and other things he didnt even account for and you know, he has not been criminally charged yet, and neither has his predecessor, dennis williams, the former president of the uaw. But he has also been implicated in this. He also mentioned in this lawsuit that you mentioned that gm has filed against fca, that is Fiat Chrysler. They say, take a look at the terms of the lawsuit or what theyre alleging. They allege that sergio marchionne, the successful fca ceo, authorized bribes in a multiyear pattern of corruption to essentially get a better deal for fca and eventually take over gm kind of crazy. Gm says it suffered substantial damages because the fca workers, you know, got less money. The Union Leaders agreed to give them less money and gm got the worse of the deal. Fca for its part says that is bunch ba baloney. Here is how they put it from fca current ceo mike manley to his workers. He said were astonished by this filing both its content and its filing. We can only conclude this was tended to disrupt the merger with the peugeot folks psa. We will vigorously defend this meritless lawsuit. When you start blaming the dead guy, that is to say sergio marchionne, i dont know. Certainly some lawyers will make some money on this deal. Not a pretty deal. Charles not pretty. But also another big loser would have to be the Fiat Chrysler workers. The unions are supposed to be trying to get them the best deal. You know, if they did indeed line their pockets at expense of their workers, it could be the worst thing for the Union Movement in a long time, a long time. Reporter people are already mad at them. If this comes to fruition, you could get, you think membership is down now . Get a lot worse. Charles jeff, thank you very much, my friend. Thankthank you. Reporter good to see you, charles. Charles President Trump tweeting recently bringing the word nationalism back into the mainstream. Great job, rich lowery important book. He is here. Why nationalism should not be a dirty word. Most of the democrat took the stage last night and duked it out. Who won the messaging war . Didnt seem like it persuaded Mike Bloomberg just moments ago he made a major move. Well tell you about it when we come back. Imagine a disease is caused by too much of a bad protein, but a Company Develops a way to actually attack it. What drew me to Capital Allocation in Health Sciences was the potential to help many people through investments that help fund medical innovation. My team and i often choose to invest at the very early stages of human trials. 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Side effects include nausea, diarrhea, vomiting, belly pain, and decreased appetite, which lead to dehydration and may worsen kidney problems. I have it within me to lower my a1c. Ask your doctor about trulicity. And now for their service to the community, we present limu emu doug with this key to the city. [ applause ] its an honor to tell you that Liberty Mutual customizes your Car Insurance so you only pay for what you need. And now we need to get back to work. [ applause and band playing ] only pay for what you need. Liberty. Liberty. Liberty. Liberty. Charles President Trumps presidency has been nationalism, advocating for the United States to be the best. National review editor rich lowery says nationalism has become a dirty word and it shouldnt be. America is not just a nation but an idea. The idea is to protect its interests, borders and identity. The author of the case for nationalism, rich lowery. It has been too long. Thanks for having me. Charles you and i did a lot of shows during the election, leading up to the election, it felt like initially there was different sense what this meant. It felt like you were on the other side of this argument, nationalism was a bad thing, dangerous for the country, dangerous for the rest of the world. Where are you now . Whats changed . Yeah. So the book occasioned by trumps inaugural address, got me interested in the topic, thinking about it seriously. I sort of accepted the clicheed version of it, something nasty, wrong, inherently aggressive. As i got into the book, it is very old, natural, powerful phenomenon. People have not been able to wipe it out even though ideologies totalitarianism have attempted to wipe it out. Charles there is distinction between patriotism, pro, nationalism, which is antiother countries. That is not the read no. That interpretation doesnt make any sense. It comes from the word patri, loyalty to the father land and your own. Distinct people bounded together by common culture, common history, should govern its distinct territory. That is what it is. It can spill over into something aggressive and become imperialistic. Charles can it spill over or be hijacked . You know what i mean. People used the bible, to you know, as an excuse to do some really ugly things in this world, so for the, so on but youre saying in its real natural form, that its a good thing . It its true form. President trump, some of the u. N. Addresses says were a distinct and great people. Everyone else around the world they have their own distinct cultures. That is a wonderful thing. Well respect yours. You respect ours. That is true nationalism. His warsaw speech, the best speech of his presidency, the pols, worst part of europe, trampled by occupying armies, trying to partition them, you couldnt do away with polish. Because there is something polish about the pols. True to their tradition and and culture and mores. That applies to us today. Charles who wants to change that . Is it globalists, one world folks, open border folks . Is who pushing to change this . Who would see something wrong with americans proud of their own uniqueness . This would be common sense sentiment, right . Cosmopolitan attitude characterize a lot of elite in this country, elements of government, they have perspective socalled citizen of the world. There is not truly any such thing. If you get in a jam anywhere around the world, get kidnapped, the world doesnt come save you, your country saves you. Your corptry inherently cares more about you than anyone else does there is no universal military or universal language. Charles it is interesting. At one point steve bannon was calling it economic nationalism. Felt like that was a distinction to mitigate the blowback. You say forget about it. It is okay. Be proud of nationalism, that is who we are . American nationalism, small d democratic nationalism. Is key part of the country. It is wrong for democrats to their back on it and republicans to lose it prueher too trump and channel it in the rate way for our future. Charles congratulations on the book. Thanks so much. Last nights democratic debate failed to weed out the very crowded field. Who won the messaging war with voters and is it the moderate side, or the far left. Well ask an expert on that that. That. Facebook to crack under pressure from it rivals on political ads. Well give you details. Most people think of verizon as a reliable phone company. woman but to businesses, were a reliable partner. We Keep Companies ready for whats next. man we weave security into their business. Virtualize their operations. woman and build ai customer experiences. We also keep them ready for the next big opportunity. Like 5g. Almost all the fortune 500 partner with us. woman when it comes to digital transformation. Verizon keeps business ready. shaq chime magenta . I hate cartridges not magenta not magenta. Im not going back to the store. Magenta cartridges are so. buzzer vo the epson ecotank. No more cartridges. It comes with an incredible amount of ink that can save you a lot of frustration. The epson ecotank. Just fill and chill available at. Dropping to near record lows, my team at newday usa is helping more veterans refinance than ever. The newday va streamline refi is the reason why. It lets you shortcut the loan process and refinance with no income verification, no appraisal, and no out of pocket costs. One call can save you 2000 every year. Call my team at newday usa right now. Charles well the fifth democratic debate taking more of a civil tone with much of the debate focused on beating President Trump but that didnt stop them from taking some potshots at each other so who won the messaging game . I will ask beverly hallberg. Overall, beverly, the biggest winners and biggest losers last night. I dont think there was a clear winner because nobody stood out. Joe biden had a rough not. Even before the debate happened he sent out to his supporters, did i make you proud, how did i do . Of course he hadnt even taken the debate stage. He had poor words choices during the debates, domestic violence, how we need to fight against it, saying we need to keep punching it, punching it. Joe biden is a gaffe machine. He does well at