Transcripts For FBC The Claman Countdown 20240713 : vimarsan

FBC The Claman Countdown July 13, 2024

Disposes of all that medical waste. First on fox business, the ceo is here on grinding down and destroying covid from all the used masks, gowns, needles and more. And with schools still closed, the untold story of not necessarily about kids or teachers struggling with the new virtual reality, but the parents. You know what im talking about if youre one of them. A fox business exclusive with education giant mcgraw hill, trying to solve some of your problems. Plus, are your hands cracked and dry with all that hand washing . To avoid getting the virus . The guys who gave up their big city lifestyle to start over down on the goat farm. How their now famous Goat Milk Soap has the beekman brothers cleaning up in the middle of the coronavirus crisis. For those of you who thought peloton would lose the race, think again. Less than an hour to the closing bell, lets start the claman countdown. Liz breaking news. The possibility of negative u. S. Interest rates may become a reality. We want you to see this intraday chart of the february 2021 fed funds futures contract. This is where the traders bet on what they believe the Interest Rate that the fed sets will be. So for the february 2021 level, it looks to be above the 100 mark. That is a level indicative of a negative quarter basis point policy rate, meaning the market is pricing in negative rates early next year. While fed chairman Jerome Powell has pretty much said no way, no way would that happen, we dont want that to happen, negative rates are for countries that are really in a lot of trouble, the markets appear to be pricing in something else. We will keep an eye on this. We just havent checked on fed funds futures in awhile. When we saw that, we thought uhoh. Were watching that. Got some time before february 2021. Meantime, weve got retail rumbling to life. Gap will reopen 800 stores by the end of may. We have ulta planning to swing the doors open at 180 of their locations. Thats supposed to be this monday. And kohls will reopen 25 of its stores next week. You can see the stocks are all moving higher. Nice move for kfs or kohls, up 7 . What a contrast to the retail wreckage at neiman marcus. The luxury chain is now officially the very First Department store name to file for bankruptcy protection. The name behind the famed christmas catalog struggled with billions of dollars in debt. Final nail in the coffin was the coronavirus pandemic. They filed chapter 11 which means they will perhaps get protection and restructure. Biggest pork Processing Plant in the u. S. Is partially back online at this hour. Tyson had been forced to close the iowa plant in an effort to contain the spread of coronavirus. The closure of many of the nations meat plants has put severe pressure on the countrys Animal Protein supplies. But the reopening here of tyson foods, stock is up 4 . Payment services have a really strong pulse at this final hour. Paypal hit a record high as it forecast a strong recovery thanks to a surge in online shopping. Paypal is up nearly 14 right now. That same hope is powering squared even though it reported a surprise First Quarter loss, moving higher by 11 . Nice jump there for both of those. And peloton is peddling to a win. The subscription based exercise company is hitting a record high. Look at this price, 43. 91. Up 15. 33 right now after raising its revenue forecast and wait until you see how many people have subscribed now. The boom prompted by the pandemic helped power a 66 rise in Third Quarter sales. It might just be one of the fastest comebacks in stock market history. Yeah, the nasdaq. After tanking 30 less than two months ago, the nasdaq is now positive for the year. Nasdaq is not the only sector staging pretty beautiful recovery, though. Oil is spiking 82 over the last two weeks alone. While initially jumping today, well, there was this news, that chinas exports rose last month before turning negative, oil is still 62 below its oneyear high. You know what i always want to do is give you some perspective here. Even the hardhit Consumer Discretionary sector has bounced back pretty significantly over the last month. It has jumped more than 15 . But how will tomorrows april jobs number impact the markets and what should you buy and what should you avoid ahead of that report . To our floor show traders. Phil flynn, sart with ytart wit. Is there anything you would scoop up thats still at a discount ahead of the number tomorrow . Im looking at the oil refineries. Oil prices have come back pretty dramatically and one of the biggest stories we are seeing is the return of gasoline demand, right. Refiners had cut back on gasoline production because nobody was driving, everybody assumes we have plenty of supply, but all of a sudden demand is coming back faster than the production of gasoline. In fact, we heard from one big refiner today to say listen, we dont know how all this is going to play out over the next few weeks but we are only going to sell gasoline and diesel to our regular customers because we are afraid that demand is going to come back faster than our ability to produce it. That means if you havent filled up your gas tank, go do it right away, because these gas prices could spike if demand continues to recover. I like the refineries. Hollyfrontier is one of the ones ip keeping an eye on now. Liz is there anything you would avoid ahead of what we know will be a very very difficult report tomorrow to stomach . Yeah. You know, you mentioned peloton. I love that stock, because i will need it really badly after being locked in the house. Im too close to my refrigerator. Weight watchers would be great. I think what i would avoid for sure is you know, the movie stocks. I really think theaters are becoming a thing of the past. Everybody has been locked at home. Look at netflix, its gone through the roof. They are seeing everything they can live at home. Some of the theaters will have a difficult time coming back. The only way they will come back is if hollywood comes out with one blockbuster after another and even that might not be enough to save a lot of these chains. A lot of them are in trouble and you know, with the concerns about social distancing, people arent going to be able to get back into the theaters. I would really avoid those stocks. Liz john, when you look at sectors, phils right, we have seen the oil Services Come back, we have seen some really nice moves there, even Something Like the theater stocks. They were down for the count, amc has jumped pretty exponentially considering it was hanging by a thread there. Tell me, is there a sector you feel hasnt been picked over and that is a real bargain ahead of this april jobs report tomorrow, or in the wake of it, might sell off and would make it an even better discounted name . Yeah, you know, i think heading into the number tomorrow and seeing the effects on the market with the numbers today, the markets pricing all of this in. We are pricing in bad news already. And the market likes the transparency. So yes, the numbers are going to be bad. Sectors are going to be wildly affected by this. But i dont think overall, we will have a heavy foot on top of the market just because of these job numbers. We know what we are getting. Where do you look . Clearly its easy to say that, you know, the Technology Sector has had a great runup. We saw microsoft earnings come out and they blew numbers away, not really tremendously impacted by whats going on right now. Medical sector, that is also playing into this. Theres still a lot of room left in there. I wasnt going to touch on oil purposely because i knew phil had that one right down the middle but im going to think about one to stay away from which could get affected by the jobs numbers. Thats the reits. Commercial real estate, commercial office space, those are going to be impacted by job numbers. People are not working, businesses and corporations are going to have to reevaluate their footprint as far as office space is concerned and the thing we are all learning, and i dont care what business youre in, there is part of your business that you can work from home. I think moving forward, the reits will seriously have pressure on them. We will need one or two quarters to get through that and to see how they play themselves and how they can place themselves in the future. I like to play the reits, just not yet at this point. I think we need to get through one or two more cycles. Liz i would also say you have already heard of major Chain Store Sales names that say were not paying our rent. Yeah. Liz limited brands. Youve got to be really careful with those. Great names and ideas all around. Thank you so much. We are about 51 minutes before the closing bell rings. Any time, guys. Nice to see you in your natural habitat. Dow is up 260 but keep your eye on that nasdaq. You may witness what is one of the fastest, if not the fastest comeback in history. From having been down pretty dramatically. Zoom looking to defuse the zoom bombings with the purchase of secure messaging and File Sharing Service keeping. The acquisition, the very first ever for the Video Conferencing giant, now allowing its users endtoend encryption to help protect the privacy of their video chats. Zoom is up 5. 6 . It stands at 158 even. Digital security more important than ever, as homes turn into schools. Parents, this ones for you. Up next, in a fox business exclusive, mcgraw hill ceo simon allen on what the Education Company is doing to help ease the pain of overwhelmed parents, now forced to play teacher in the covid19 age. The claman countdown is coming right back. Some Companies Still have hr stuck between employees and their data. Entering data. Changing data. More and more sensitive, personal data. And it doesnt just drag hr down. It drags the entire business down with inefficiency, errors and waste. Its ridiculous. So ridiculous. With paycom, employees enter and manage their own data in a single, easy to use software. Visit paycom. Com, and schedule your demo today. Can it help keep me asleep . Day sale on the sleep number 360 smart bed. Absolutely, it senses your movements and automatically adjusts to keep you both comfortable. And now, save 1,000 on the sleep number 360 special Edition Smart bed, now only 1,799. Only for a limited time. Liz welcome back. We are awaiting President Trump. He is meeting right now with the governor of texas. The tape will come. We will play it for you. Most states across the nation have shuttered Public Schools pretty much for the rest of the Academic Year due to the coronavirus pandemic. No word, this is the real issue, on whether they will even reopen in september. Kids, though, rapidly transitioning to Virtual Learning but parents, not so much. One of the big three education publishers, mcgrawhill, is in the thick of it. Since the pandemic hit, the company has assisted thousands of students and teachers from k through 12 and university and college with the sudden transition to Digital Learning but what about the parents . They are the ones caught in the middle, especially with the younger kids. Mcgrawhill ceo simon allen has been getting an earful, im sure, from parents. Simon, what are you hearing and what have you folks at mcgrawhill done to smooth the bumpy road that many moms and dads are enduring . Its a great question. Thank you for having me. You know, we have 4,000 staff around the world, many of whom are parents, and many of whom have children of, you know, young ages going all the way up through into university, and those particularly with Young School Age children have really had a tough time. They are transitioning from Traditional Office space environment, open plans, colleagues everywhere, day care for their children, family arrangements, suddenly all thats gone. Now theyre at home, their children are at home, they are faced with home schooling, faced with looking after the chores of the children, faced with working as well, although we try to ease that. We have been in regular communication with our staff and we have been telling them when they need to ease up, they need to ease up and devote time to their children. We are trying to provide them as well with pretty good information that we have through our company, through mcgraw hill but also other routes they can use to help with the chores. Its a challenge to get used to this adjustment right now. Liz yeah. Well, i can tell you that when you say when to ease up and spend time with your children, they want to get away from their kids, okay . So what has mcgraw hill been able to glean and fix or change about the platforms that you have . Youve got very important platforms here, virtual labs and then the connect that we can show on our screen, and how does that help parents deal with the situation and what has it done for your business . We are a Business Network here. These great questions. These are, as sad as the situation is right now, liz, these are very Interesting Times for mcgraw hill because unlike many other companies, we have the wonderful situation of being both an Education Company and a platform company. So the products you just mentioned, mcgraw hill connect, mcgraw hill alex, our virtual labs, these are all very very effective tools to help through the learning process. We have gone way beyond simply textbook publishing. We did that very well. Weve got wonderful, wonderful content. Now when you marry that with really, really effective platforms to give you the flexibility and the opportunity to really learn and test yourselves at your own pace, its hugely helpful. So for us, we spent the last few weeks since the lockdown essentially literally spending multiple hours every single day, every staff member, helping faculty, teachers and instructors, move their courses online, with massive speed. For our business, thats great, because weve already got the majority of our Customers Using our digital product. Now we are just accelerating that transformation even faster and literally helping teachers and instructors almost hand holding through the process of transforming their classes all to be taught online. Liz simon allen of mcgraw hill, can you come to my house and hold my kids hands for me . Thank you and your team at mcgraw hill for doing fine work during a very difficult time. We appreciate it. Closing bell ringing in about 41 minutes. High demand for handmade face masks. Not enough to save the bottom line for etsy. Despite at least ten price target hikes, the craft selling website missed on earnings. That is weighing on the shares. The stock down 2. 4 . But the stock just so you know, still up nearly 99 since the start of the second quarter. But there is an ugly truth right now. 50 of Small Businesses dont think they can make it through. When we come back, one that is crushing it and doing very well thanks to you washing your hands. Need help like never before and wells fargo employees are finding ways to do our part. By helping people stay in their homes, through mortgage Payment Relief efforts. Helping local businesses in their vital role in the american economy. And helping hundreds of local organizations provide food and other critical needs. When you need us, wells fargo is here to help. Many of lifes moments in thare being put on hold. Are staying at home, at carvana, we understand that, for some, getting a car just cant wait. To help, were giving our customers up to 90 days to make their first payment. Shop online from the comfort of your couch, and get your car with touchless delivery to keep you safe. And for even Greater Peace of mind, all carvana cars come with a sevenday return policy. So, if you need to keep moving, were here for you. At carvana the safer way to buy a car. We were paying an arm and a leg for postage. I remember setting up shipstation. One or two clicks and everything was up and running. I was printing out labels and saving money. Shipstation saves us so much time. It makes it really easy and seamless. Pick an order, print everything you need, slap the label onto the box, and its ready to go. Our costs for shipping were cut in half. Just like that. Shipstation. The 1 choice of online sellers. Go to shipstation. Com tv and get 2 months free. Liz breaking news. The president of the United States has just made newsmaking comments. Lets go to him right now in the oval office. But we ive had very little contact, personal contact with this gentleman, know who he is, good person, but ive had very little contact. Mike has had very little contact with him. But mike was tested and i was tested. We were both tested. [ inaudible question ] its a little bit strange but its one of those things. As i said, i said yesterday, governor, all people are warriors in this country. Right now were all warriors. Youre warriors, were warriors. You can be with somebody, everythings fine, then something happens to that person, and all of a sudden test positive and were all warriors together. I am, you are, we all are. Its what we were saying before. Shows the testing, we have the best tests in the world. What happens in between when you get tested and just a couple of days later. So in this case, there were a number of days missed and it was a long weekend and things, so you never know. But we both tested in a negative fashion, i guess you would call it. Any other questions . Reporter can we get your reaction to some breaking news, the Justice Department has decided to dismiss the case against Michael Flynn . Are you aware of that . I didnt know that was happening at this moment. I felt it was going to happen just by watching and seeing like everybody else does. He was an innocent man. He is a great gentleman. He was targeted by the Obama Administration and he was targeted in order to try and take down a president and what theyve done is a dis

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