Wallet. Well see that math. Fox Business Team coverage, Lauren Simonetti is watching the markets but well kick it off with blake burman who is at the white house as we await the president s remarks. Blake. Reporter melissa and connell, for the second day in a row the main event for the president will involve deregulation. Senior Administration Officials are not saying whether or not there will be a big policy announcement here. They will say, it is quoteunquote, victory lap. Here is the press secretary Kayleigh Mcenany from earlier today. The president reversed the disasterous overregulation of the obamabiden administration. Under President Trump 7 deregulatory actions have been taken for everyone new regulation. This amounted to 50 billion in regulatory cost savings. Reporter elsewhere today, some pretty eyepopping comments from attorney general bill barr as he unloaded on chinas ambitions and role u. S. Companies play in that company. Google, microsoft, apple, all have quote, been too willing to collaborate with the Chinese Communist party. He also leveled this warning to the u. S. Business community saying that china doesnt want to trade with the u. S. , rather they want to raid the u. S. Connell, melissa. Back to you. Connell blake, thank you very much. We have breaking news now on netflix. Earnings just coming out on the revenue side the sales at net flings last quarter were better than expected, 6. 15 billion in quarterly sales. Compared to expectation of 6. 08. Now earnings were light. The stock is way off in afterhours trading down 12 . Earnings of 1. 59 last quarter, well short of the estimate put in of 1. 81. Real quick before we bring in our panel to talk about this revenue outlook looks a little light you about earnings in the third quarter, going to be above according to netflix above analyst estimates as we go through the numbers i want to bring in dion rabouin from axios and geir by b. Smith. , fox news contributor. Were looking for the subscriber number, that is always the driving force with netflix. The estimate was over 8 million new subscribers in the quarter which is ridiculous but the stock is selling off, it seems, it might be that, there is a little bit after disappointment. I wonder if we were set up with disappointment with netflix no matter what they reported . Stock is up 60 yeartodate while the broader s p is negative for the year, naturally you will have some very high expectations. I think, last time we talked about netflix i think i said the way they were setting themselves up for this quarter in terms of issuing that guidance may have outkicked the coverage a little bit. But you have really bullish investors. Folks are bullish on netflix. Number one they had solid numbers. Number two looks like coronavirus is coming back in certain parts of the country. That sounds bullish for netflix. I think the expectation was they were going to overdeliver. You had call options set up significantly in favor of netflix getting beat. Folks getting too bullish and netflix not delivering at spectacular pace were used to. The numbers are not terrible. The number is much more about positioning than about particularly bad number for netflix. Connell even though sales, gary, were better than expected, most recent quarter we have on the screen. As i said before going to dion, guidance for next quarter saleswise at 3. 33 billion, that is a little light of the estimates and again the same type of conversation with you, with the stock up as much as it had been i guess no surprise to see it pull back here after hours. Your take on netflix . Well, i tell you what, connell, maybe im in the minority given onset, theyre up 63 yeartodate, i have to think the best days of netflix are beyond them. Here is the reason why. It reminds me of ibm back in the 80s, they were the king. They were the source. They were the only ones for any real kind of computing, particularly mainframe. They started to get nibbled away by wangs and all the other competitors. Look at the netflix landscape. It used to be they were the only ones. If you wanted online and going way back, even before you were born, connell, get the disk through the mail, that was it. That was your only choice, subsequent to blockbuster but now theyre a content provider and they have done a great job but now who do they have . They have everyone from disney plus to that new peacock thing, to hbo. Everyone has an online offering and they take their own libraries with them. So now netflix has to produce a lot of their own stuff to replace the things that have gone away like friends they had access to. It is a very difficult, dangerous landscape. I like netflix. I still pay netflix. Most people dont even know what they pay in their Netflix Subscription per month. I dont, to be honest with but the competition will get really fierce. Connell i love that, gary, that peacock things. There are all kinds of streams services out there, youre right about that. Dion i, will give you couple other headlines on netflix that are bother some about netflix. Net paid additions is down. Maybe goes into that theory youre getting all you can get out of netflix in the short term. The other headline theyre slowly resuming production in many parts of the world. Which give us the conversation we always have about netflix. As things might be saturated here in the u. S. , we all have it if were going to get it that is not necessarily the case in other parts of the world . Look, the story for netflix, they have got to keep growing. This is a growth stock. That it is bad, actual revenues versus the price of the stock, not great. Gary said, folks are out there think the thing has run as far as it can. I will tell you i wouldnt bet against netflix with your money, connell, but there are folks who dont believe in the growth story but netflix consistently has delivered. I do have to say those numbers will disappoint a lot of folks on the street, if that guidance, because of the coronavirus, a lot of companies are getting the benefit of the doubt. As long as youre issuing some kind of guidance, a third of the s p has pull back any kind of guidance going forward. Any kind of guidance investors will be more forgiving of. Well see a bump as people buy the dip. That is concerning number because it is all about the growth in terms of netflix. Connell with overall paid subscribers, dont know if weve gotten that, guys, netflix added more in the second quarter. We talked about everybody staying at home and the like. That number now, wanted to be sure before we said this, that number of, this is a crazy number, was 10. 09 million paid subscribers globally. Now the analysts estimate was 8. 07 million, gary, and in the year ago period the number was under three million, 2. 7 million. That gives you an idea. A year ago we thought netflix was great, they were adding a little under three million. Now it is over 10 million. We may get caught up in a stock selling off based on spied dance, whatever else, that is some number to be adding subscriberwise in the quarter. Look, its phenomenal growth. The thing is, it is one of those things, not like going to the supermarket where every time you go you have to pull out your card and give them cash, oh, my gosh, i spent another 100. Like i said, netflix, they get the subscribers, theyre kind of locked in. Like those book ever the month club. You just keep paying it. How much am i paying . Who knows at this point. But i will say the flipside is, i get back to that content, each of those subscribers, they make less money unless they keep raising rates, which they can, because now they have to pour all that, just that cream that they had, really cost them nothing after they had all the libraries, old movies, they have to make the new product now. That costs a lot of money. That is what you saw with the networks, abc, cbs, they ran into the problems. Theyre still running into the problems. They have to pay a lot to produce the next seinfeld and things like that. They can keep growing. The bottom line number is absolutely fantastic. Just the Profit Margins even in this report are going to continue to get squeezed a little bit. Connell yep. Last word to dino. Concern about the future, this may be inside baseball, people that follow the company, the chief content officer they Just Announced appointed as cochief executive officer at the company, will stay in that current position as well. Deion, the last word on Competitive Landscape. A lot of concern about disney plus because of hamilton, the Competitive Landscape picked up with a lot of us staying at home, you like the way netflix is positioned big picture . Absolutely. When people are not ditching netflix for disney plus, they are getting netflix and disney plus. Gets netflix and peacock. When it comes to that content, all they have to do go to the debt market. Keeping rates super low. They borrow debt. Ebitda is a mess. No one cares. Borrow more money. Get more content. That is the solution. Connell guys, thanks. Good analysis, bottom line on netflix. Earnings light. Sales better than expected. There is concern about the outlook but the subscriber number, over 10 million in the quarter was huge. More later in the hour. Melissa, back over to you. Melissa all right. Fox business alert. At any moment we are expecting remarks from President Trump. The president will be highlighting the details of regulation cuts which the administration claims will boost average Household Income by 3100 annually. Here now to discuss is mike huckabee. He is former governor of arkansas and he is also a fox news contributor. Governor, i have noticed this week, i just want to tell people what theyre seeing on the screen there. These two trucks, i think what is going on, im just going to hazard a guess, theyre regulation and deregulation, pulling against each other, representing burden on businesses, illustrating what people are up against. Between this, the president on the stage yesterday, with a ups driver, not the ceo of ups, not some executive, not another politician but he brought up a truck driver, who got up there, i drive a bigrig. I want infrastructure investment. You know, im a working guy. I love you President Trump. There is a change in the tone of the campaign here in the past two days. What do you make of it . I think its pretty significant that the democrats who used to be all about infrastructure, remember when they said they really wanted to do it . President trump laid it on the table, great, lets work on it. He loves infrastructure. As soon as he put it on the table they walked away from the table and it is unfortunate because everyone wins. I dont care what your political ideology, is everyone wins when we have enhanced infrastructure. Enhanced roads bridges, sewer systems we all benefit dramatically from infrastructure. When i was governor, we had worst interstates in the country, i inherited them. I went to the people, we got to fix these. Everybody knew it was a miss. People voted 80 margin we fixed highways. We ended up being noted by truckers as the worst interstates to the best when we got that done. Here is what happened. Every motorist, they saved on average 481 a year on car repairs just based on better roads. Melissa wow. This is something people dont sometimes relate to, but they ought to because deregulation and Building Infrastructure are two things this president wants to do, can do, is trying to do, that are a huge economic benefit to every person, whether they have any political interest or not. Melissa it is also interesting because it seems like he is doing, we see the president coming out now. When he comes to the podium well listen to what he has to say. He is doing what he did in the last election where he is picking off people or groups that were traditionally supporters of the democrats. He has got Truck Drivers out there. He had endorsement from the police union. Im saying the society wrong, i think it was national policemens association . Anyway they had endorsed obama and biden twice before. Now they have gone over to trumps side. He is putting together an Unlikely Coalition again. What do you think of that strategy . I think its brilliant because he is not really the idealogical president. That is why some of the nevertrumpers in the republican dont like him. Theyre losing businesses political consultants. Theyre not being listened to because were moving into a new era where were interested in solutions. We want to solve problems. We dont just want someone to make a speech, be idealogically collect correct but never get anything done. This president is a doer. You may not like the way he does it but you cant argue when it comes to border security, deregulation, which is really, really important, he is getting it done. And we should be grateful for that. It doesnt matter what the party is, he is reaching out to democrats saying, hey, this is something we can agree on, surely . And they seem to be more interested in the election outcome than they are in the outcome for the average american family. Thats tragic. Melissa so weve also seen a change at the top of the campaign obviously. Brad parscale is out. There is a new head of the campaign. At the same time we have seen change in tone to these are more positive events where he is talking about either things he has done or things he can do. It feels like a big shift. Do you think that is the right way to go because, you know, over time in the past, negativity worked in politics. We all say we hate those ads but they work. So what you do think of a more positive strategy that we seem to be seeing these past couple days . I think it is really smart because the president needs to talk about the things that he has accomplished. The things that make a difference for the average american family. There is going to be a important time to go out there to attack the other side but let surrogates do that. Let him stay on the high road. Let surrogates go after joe biden. Melissa all right. So fox business alert. Thank you so much now. President trump delivering remarks on rolling back regulations. Lets listen in. A nice crowd on a nice cool day. It might be hot but its beautiful. Were here to celebrate and expand our Historic Campaign to rescue American Workers from jobkilling regulations. Before i came into office American Workers were smothered by merciless avalanche of wasteful and expensive and intrusive federal regulation. These oppressive, burdensome mandates were a stealth tax on our people, slashing take home. Pay, suppressing innovation, surging the cost of goods and shipping millions of americans jobs overseas, millions and millions and millions, it never ended. Nearly four years ago we ended this regulatory assault on the American Work other and we launched the most dramatic regulatory Relief Campaign in American History by far. No other administration has done anywhere near. [applause] thank you. At the heart of this effort was a revolutionary promise for everyone new regulation issued we pledged that two federal regulations would be permanently removed. We not only met that ambitious goal, which at the time people said was impossible, we vastly exceeded it. For everyone new regulation added nearly eight federal regulations have been terminated. [applause] been an incredible achievement. As you can see behind me we removed gigantic Regulatory Burden americans have been forced to carry for decades, freeing our citizens to reach their highest potential. Our historic regulatory relief is providing the average American Household an extra 3100 every single year. Were going up from that number. [applause] were going up from that number. Think of that. 3100 per household. Joining us today is Vice President mike pence. Thank you, mike. [applause] commerce secretary wilbur ross. Wilbur, thank you very much. [applause] labor secretary eugene scalia. Thank you. Thank you. Eugene. [applause] health and Human Services secretary alex azar. Thank you, alex. [applause] transportation secretary elaine chao. Thank you, elaine. [applause] we had a great day in georgia yesterday, cutting regulations. Like nobodys ever seen before. Epa administrator andrew wheeler. Thank you, andrew. Thank you very much. [applause] omb acting director russ vought. Thank you, russ. Small business administrator i love her name, jovita carranza. I love her name. Cms administrator, seema verma. Those are great people. Theyre doing incredible job. I want to thank the many state, local tribal leaders join us in the great cause. Thank you very much for being here. We all appreciate it. Thank you yall very much. What we have achieved together is truly without precedent. Never happened before. The Previous Administration added 16,000 pages of heavyhanded regulations to the federal register. That is why nothing got done. Under my administration, we have removed nearly 25,000 pages of jobdestroying regulations, more than any other president by far in the history of our country, whether it was four years, eight year, or in one case, more than eight years. The Prior Administration piled up more than 600 major new regulations, a cruel and punishing Regulatory Burden that cost the average american an additional 2300 per year. Think of that. The average american 2300, regulation. Hitting low income americans by far the hardest. These regulations also inflicted a steep economic toll on africanamerican communities. By contrast our reforms are putting more money in the pockets of hardworking americans. In addition to saving every family more than 3,000 per year, my administration is just issued another reform that my counsel of economic advisors estimates will lower the price of new vehicles by more than 2200 per vehicle. I think were going to get that up to 3500 per vehicle. [applause] very exciting. By the way, the vehicles will be better. They will be stronger and they will be safer. Our regulation cuts are also delivering massive savings on Broadband Internet services and some home energy bills. Well be really hist