Transcripts For FBC The Claman Countdown 20240712 : vimarsan

Devastated from the coronavirus from being evicted from their homes. We have the details coming up for you. Americas biggest chip maker rolling out its latest chip sets. Code name, tiger lake. Intel ceo bob swan here to tell us how its going to help it maintain dominance in the microchip world. Plus we will introduce you to a company shaking up shakes. The cofounders are here to explain how the reopening of gyms around the nation can help boost sales of its plantbased protein shakes. Less than an hour to the closing bell, im Cheryl Casone in for liz claman today. Lets start the claman countdown. Cheryl lets make you smile. Smile direct club investors are grinning from ear to ear as the stock sets its biggest oneday percentage gain ever after executives bought up millions of dollars in shares and as the company pulled the plug on manufacturing, a manufacturing facility in texas. Right now the stock is up a little more than 25 . A record ride for peloton interactive, hitting another high for a second day in a row after jpmorgan boosted its price target to the highest on wall street, citing optimism ahead of next weeks earnings report. The stock up more than 8 . The athome Fitness Company is on the firms u. S. Analysts focus list. You know liz claman loves her peloton. She got me into it and now i love it. On the flipside of all of this, count Sports International not getting love despite new york city gyms reopening. The opening of sports clubs across the northeast plunging. They warned they may indeed file for bankruptcy. That stock is down more than 20 right now and it is below 1 a share. That means d listing after 30 days, folks. Breaking news right now. President trump is now on his way back to air force one after speaking in the tarheel state on the battleship north carolina. He was in wilmington. This coming after his administration passed a nationwide Eviction Moratorium through the end of the year. This will help to ease the minds of millions of americans who are struggling to make ends meet during this pandemic. Edward lawrence has more details on that plan from washington. Edward . Reporter hey, before i get into that, i know you guys love talking about the Federal Reserve here. You know, the beige book came out. This is the Federal Reserve looking forward to their guidance and meeting in september. One interesting nugget, very interesting, out of this, is that firms are having trouble finding workers, compounded because available day care is not around. Also, people saying they arent able to find or the uncertainty around whether their kids are going back to school in the fall. This is in the beige book here. This is also at the heart of what the administrations been saying. If kids cannot go back to inperson learning, parents cannot fully work, that holds back the economy in turn. The federal restoerve that real economy, we talked about it before. What will this mean for the stimulus talks happening in washington . Lets bring in our traders. We have Teddy Weisberg and scott bauer. Great to see you both. Teddy,ly sta i will start with. The beige book looks pretty good. Im glad edward brought that up. But lets talk about the two things the markets seem to be waiting for. Stimulus and a vaccine. What if one of those shoes decides to drop in the next month . September is not normally a good month for stocks. Well, i think you forgot the third leg of the stool which might be just as important. Thats the economy. You know, what drives stock prices at the end of the day are corporate earnings and talk of a good economy. We continue to get good economic news. We are not dismissing the covid19 issue which is an enormous issue and the vaccine which we hope will come. But these are all out there. But the markets really reacting i think to the improving u. S. Economy and as long as those numbers keep coming in, i think along with the fed being in a very accommodative mode, it creates a very positive environment for equities. Cheryl you know what, twothirds of the u. S. Economy is the u. S. Consumer and how they spend. That adp report today was half of what economists were looking for. We will get initial claims tomorrow. Then youve got the august jobs report thats going to be coming out this friday. We are supposed to see unemployment actually tick below 10 . But the market really did shrug off today that adp number, in particular, even when these numbers for the claims data have been jawdropping. Why . Absolutely, to me very flabb flabbergasting that it shrugged it off. Its setting it up for failure on friday, if we get a really negative number, a bad number friday for the august jobs report, i think that all of this euphoria that we have seen over the last few weeks, even this morning was shrugging off that adp data, i think we could be in for a pretty big shock. Im expecting a lower than expected number on friday, because im not sure that everybody is really factoring in the effect of the stimulus that people had, that ended in july, and what that may have done to employment in august. So im kind of positioning myself a little bit on the cautious side. If you kind of tie in the factory orders that we saw today, which yes, thats the manufacturing side of things, it was great. Big rebound in manufacturing. But when you really dig into it, whats happening is even though they were the best numbers that weve seen in like 21 months, they are still below where we were two years ago and they are not hiring people back. So even though the output is there, theyre just not hiring people back. I think that may be reflected on this friday. Cheryl thats why i was looking at the beige book at 2 00, teddy, because thats when ppp was really expiring for small and medium size businesses, the extra employment money was starting to go away. I did find that interesting. Still, at the end of the day, we are in a very low rate environment, the fed has changed their stance in how they handle monetary policy, and Steve Mnuchin seems fairly confident that they can come to some type of agreement with the democrats. Then youve got the tech bubble that is continuing to bubble, if you will. Am i missing anything on the good news side of this . No, i think you have it all and then some. At the end of the day, the market doesnt lie. The market is a forwardlooking indicator, not a trailing indicator. I would agree that the markets always tend to get overdone. Theres nothing rational about pricing of stocks. Theres nothing rational about the stock market. But the overall trend remains positive because we have an accommodative fed which is music to the markets ears and you have an improving economy. If we had this conversation in early april or the end of march, we would have said we will be where we are today then, you probably would have had us all committed. I think whats going on in the market is a reflection of an improving economy. Yes, the issues are out there, theyre not going to go away any time fast, but at the end of the day, its going to be the economy, its going to be corporate earnings and its going to be an accommodative fed. Thats going to help the market. Cheryl okay. Scott, final word to you. Whats your eye on the most right now . I agree with teddy. It is forward looking. Things are looking up and what i say, to be kind of cautious on friday, im not saying that were looking at a massive drop in the market. I just think thats going to be an opportune time for people to maybe take a little bit off. But like teddy said, the numbers we get on friday, earnings, corporate earnings going into, you know, the rest of the year here, thats really where i want to see a big pickup. Not just bottom line because of cutbacks. But i want to see the consumer really kicking it into high gear and helping to kick in those corporate earnings. Cheryl i have to say, this has been kind of a jawdropping week for me, but looking at the nasdaq right now, above 12,000, it took us 19 trading days to get here for the nasdaq. Thats incredible to me. To jump that thousand points we just saw in the nasdaq. You know, its on fire. Teddy, scott, gentlemen, thank you. Thank you. Cheryl good to see both of you. Back to the big board, because the dow, we are on fire. 374 right now, 29,020. We are pushing 30,000 on the dow. Again, positive territory for the year. We are about 3 at this point from another record on the dow. Never say never. Well, it is nothing but net for draftkings this hour. The Sports Betting giant enlisting Charlotte Hornets owner and basketball legend Michael Jordan as a special adviser to its board. The fivetime nba mvp and twotime olympic gold medal winn winner [ inaudible ] undisclosed amount of draftkings fair. The husband and wife duo going for a slam dunk of their own by shaking up the shake world. Their Success Story and more coming up on the claman countdown. I do what i want when i want it i buy my own rocks and i flaunt it rolling through the streets so stunning you know im a diamond honey im a celebrate this feeling watch me while i break the ceiling you know that unstoppable feeling so ima showem how im shinin walking bold. Ice on me raining down like Diamond Rings everyday did you know that you can shop online with a virtual consultant . Ask about special financing yeah i do it right cuz with the diamond credit card. Im a diamond. Tools, cattle, grain, traded goods. Even shells represented value. Then currency came along. They made it out of copper, gold, silver, wampum. Soon people decided to put all that value into a piece of paper, then proceeded to wave goodbye to value, printing unlimited amounts of money as they passed the buck to the future. Thats why its time for Digital Currency and your investment in the grayscale funds. Go digital. Go grayscale. So youre a small bor a big one. You were thriving, but then. Oh. Ah. Okay. Plan, pivot. How do you bounce back . You dont, you bounce forward, with serious and reliable internet. Powered by the largest gig Speed Network in america. But is it secure . Sure its secure. And even if the power goes down, your connection doesnt. So how do i do this . You dont do this. We do this, together. Bounce forward, with comcast business. Cheryl well, it is the day that fitness fanatics in new york city have been waiting for. Gyms getting the green light to open their doors by mayor bill deblasio after being shut down on march 16th. Gym stocks, planet fitness, club Sports International and equipment maker nautilus all trading mixed right now, as you can see. We have about 40 minutes left in the session today. While your workout is important, athletes know that nothing beats proper nutrition. You may have seen these shakes in whole foods, sprouts, cvs or target. Owyn have been serving up 100 plantbased protein shakes to help keep athletes in top form at all times. Joining us now are the power couple that are shaking up the shake industry, the cofounders of owyn. They are both former athletes themselves. Great to have you here. Thank you. Thanks for having us. Cheryl katherine, i know you played soccer. Jeff, you played football. Why get into this really crowded market . What inspired you both to do this . When there are so many shakes and powders and Everything Else out there right now . Katherine, first to you. Yeah. So we were both athletes, as you mentioned, so nutrition is something always at the forefront of our minds. We take it very seriously when competing both on and off the field. So when we were thinking about creating owyn, we looked at the marketplace and we were supposed to have access what we were led to believe was the best nutrition out there, but what we came to find out that everything that we were presented with was either dairybased, full of sugar or artificial ingredients. Cheryl thats really true. Your shakes are low fat and low in sugar. There is a need for that out there. They are. We kind of searched long and hard for a solution that we would feel really good about putting into our bodies, and when we couldnt find it, we decided it was time to create our own brand. Then owyn was born. That was about three years ago at this point. Cheryl the fact youve got such high distribution in such a short amount of time shows the Athlete Community really, i mean, you became a fan favorite for sure. Jeff, i want to ask you this, though. During covid19, i wonder with all the gyms closed, did that affect the business at all . Did you see demand change . We saw how people were buying. When we originally created the brand, it was really kind of, as you mentioned, that owyn stands for only what you need and it was that ethos that guides everything we do as a brand. The products we create and the ingredients that go in them. We felt a brand built around transparency would resonate with the modern consumer. This modern consumer buys in the gym and also buys at our website and amazon. Once we felt we had brand affinity and people resonated with the brand, then they found other ways to buy it. So maybe not quite as much in the gym anymore, maybe not as quite as much in the Grocery Stores and more online, we are seeing massive growth as well. Cheryl tell me about this partnership with cardi b. This is pretty cool. She donated i think, what, 20,000owyn drinks to medical workers here in new york during the crisis . How did that happen . She did. Its an organic development that happened. She just loves the products and one thing thats kind of core to our brand is we spent a lot of time, effort and money on testing our ingredients, testing our finished products and we take it very seriously. We are very proud to say that all of our products are allergyfree and we dont know of any other nutrition brands that can make that claim. Whenever someone like cardi b finds out about owyn, they know thats an organic type of thing and they can safely recommend it to others and specifically new york, which is our home market, there were so many people working overtime and spending countless hours trying to help with covid, in some small way we were very fortunate to have attracted the attention of cardi b and made some kind of impact, either the 20,000 bottles we donated even more as a brand, so fortunate to be in a position to be able to do Something Like that. Cheryl before i let you go, i have to ask, you have some pretty big Business Partners in all of this. Clear lake Capital Group is with you, power plant ventures, you have someone serving as president of the company now. Have any of the Big Companies knocked on your door . Have you heard from cocacola or pepsico about doing some kind of buyout . We are the Fastest Growing shake in the country, top five in the category so with that growth [ inaudible ] and of course, its attracted some conversations with those larger brands. But selling isnt necessarily something we are focused on at the moment. Theres just massive opportunity ahead of us. Today we actually Just Launched a series which is a line of 35 gram protein, zero sugar products, and as you mentioned, very highly skilled team in place, super energetic, super passionate and as a company overall, the passion buckets overflowing. We feel like theres a ton of opportunity ahead of us. Cheryl definitely keep us posted on where this company goes. Three years, you have done a pretty incredible job so far. We look forward to the next chapter. Katherine, jeff, thank you guys so much. Congratulations. Thanks so much. Thank you. Cheryl all right. Well, talk about making money some more, we got the dow up, we are pushing session highs right now. We are up 1. 5 , a gain of 429. We are at 29,075. Its pretty incredible where this market has gone. Now, another day, another run of job cuts, unfortunately, for the Airline Industry. Coming up, the latest on what the biggest names in the Aviation Business are doing to bring people back to the skies and smooth out the covid turbulence. Live on the ground at Chicagos Ohare International coming up next. Right now, the worst place to be is stuck inbetween. Accelerate your investments or pull back . Change the plan or stay the course . Thats why Northern Trust is here. With specialized expertise. A history of success through every economic climate. And proven strategies rooted in data and analytics. Giving you more control. Clarity. And confidence. For now and whatevers next Northern Trust wealth management. Im a sustainability science researcher at amazon. Climate change is the fight of our generation. The biggest obstacle right now is that were running out of time. Amazon now has a goal to be net zero carbon by 2040. We dont really know exactly how we are going to get there. Its going to be pretty hard. But one way or another were going to reduce our Carbon Footprint to net zero. I want my son to know that i tried my hardest to make things better for his generation. Now you can trade stocks and etfs for any amount you choose instead of buying by the share. All with no commissions. Stocks by the slice from fidelity. Get your slice today. Cheryl lets take a look at amc entertainment. The stock is up about 15. 5 right now after they announced that theyre going to have a total of 420 theaters open this weekend, a full 70 of their locations. Big news, its going to be reopening locations in california for the First Time Since the lockdown. A different story, though, for the Airline Industry. Aaa projecting a nearly 74 year over year decline in air travel by the end of summer. Furloughs in the industry are continuing. Grady trimble is at Chicagos Ohare International airport with that story. Grady . Reporter aaa is not even putting out travel estimates for yet another Summer Holiday as Labor Day Weekend approaches, though they do say most people will be road tripping this summer and that plus the lack of Cheryl Casone<\/a> in for liz claman today. Lets start the claman countdown. Cheryl lets make you smile. Smile direct club investors are grinning from ear to ear as the stock sets its biggest oneday percentage gain ever after executives bought up millions of dollars in shares and as the company pulled the plug on manufacturing, a manufacturing facility in texas. Right now the stock is up a little more than 25 . A record ride for peloton interactive, hitting another high for a second day in a row after jpmorgan boosted its price target to the highest on wall street, citing optimism ahead of next weeks earnings report. The stock up more than 8 . The athome Fitness Company<\/a> is on the firms u. S. Analysts focus list. You know liz claman loves her peloton. She got me into it and now i love it. On the flipside of all of this, count Sports International<\/a> not getting love despite new york city gyms reopening. The opening of sports clubs across the northeast plunging. They warned they may indeed file for bankruptcy. That stock is down more than 20 right now and it is below 1 a share. That means d listing after 30 days, folks. Breaking news right now. President trump is now on his way back to air force one after speaking in the tarheel state on the battleship north carolina. He was in wilmington. This coming after his administration passed a nationwide Eviction Moratorium<\/a> through the end of the year. This will help to ease the minds of millions of americans who are struggling to make ends meet during this pandemic. Edward lawrence has more details on that plan from washington. Edward . Reporter hey, before i get into that, i know you guys love talking about the Federal Reserve<\/a> here. You know, the beige book came out. This is the Federal Reserve<\/a> looking forward to their guidance and meeting in september. One interesting nugget, very interesting, out of this, is that firms are having trouble finding workers, compounded because available day care is not around. Also, people saying they arent able to find or the uncertainty around whether their kids are going back to school in the fall. This is in the beige book here. This is also at the heart of what the administrations been saying. If kids cannot go back to inperson learning, parents cannot fully work, that holds back the economy in turn. The federal restoerve that real economy, we talked about it before. What will this mean for the stimulus talks happening in washington . Lets bring in our traders. We have Teddy Weisberg<\/a> and scott bauer. Great to see you both. Teddy,ly sta i will start with. The beige book looks pretty good. Im glad edward brought that up. But lets talk about the two things the markets seem to be waiting for. Stimulus and a vaccine. What if one of those shoes decides to drop in the next month . September is not normally a good month for stocks. Well, i think you forgot the third leg of the stool which might be just as important. Thats the economy. You know, what drives stock prices at the end of the day are corporate earnings and talk of a good economy. We continue to get good economic news. We are not dismissing the covid19 issue which is an enormous issue and the vaccine which we hope will come. But these are all out there. But the markets really reacting i think to the improving u. S. Economy and as long as those numbers keep coming in, i think along with the fed being in a very accommodative mode, it creates a very positive environment for equities. Cheryl you know what, twothirds of the u. S. Economy is the u. S. Consumer and how they spend. That adp report today was half of what economists were looking for. We will get initial claims tomorrow. Then youve got the august jobs report thats going to be coming out this friday. We are supposed to see unemployment actually tick below 10 . But the market really did shrug off today that adp number, in particular, even when these numbers for the claims data have been jawdropping. Why . Absolutely, to me very flabb flabbergasting that it shrugged it off. Its setting it up for failure on friday, if we get a really negative number, a bad number friday for the august jobs report, i think that all of this euphoria that we have seen over the last few weeks, even this morning was shrugging off that adp data, i think we could be in for a pretty big shock. Im expecting a lower than expected number on friday, because im not sure that everybody is really factoring in the effect of the stimulus that people had, that ended in july, and what that may have done to employment in august. So im kind of positioning myself a little bit on the cautious side. If you kind of tie in the factory orders that we saw today, which yes, thats the manufacturing side of things, it was great. Big rebound in manufacturing. But when you really dig into it, whats happening is even though they were the best numbers that weve seen in like 21 months, they are still below where we were two years ago and they are not hiring people back. So even though the output is there, theyre just not hiring people back. I think that may be reflected on this friday. Cheryl thats why i was looking at the beige book at 2 00, teddy, because thats when ppp was really expiring for small and medium size businesses, the extra employment money was starting to go away. I did find that interesting. Still, at the end of the day, we are in a very low rate environment, the fed has changed their stance in how they handle monetary policy, and Steve Mnuchin<\/a> seems fairly confident that they can come to some type of agreement with the democrats. Then youve got the tech bubble that is continuing to bubble, if you will. Am i missing anything on the good news side of this . No, i think you have it all and then some. At the end of the day, the market doesnt lie. The market is a forwardlooking indicator, not a trailing indicator. I would agree that the markets always tend to get overdone. Theres nothing rational about pricing of stocks. Theres nothing rational about the stock market. But the overall trend remains positive because we have an accommodative fed which is music to the markets ears and you have an improving economy. If we had this conversation in early april or the end of march, we would have said we will be where we are today then, you probably would have had us all committed. I think whats going on in the market is a reflection of an improving economy. Yes, the issues are out there, theyre not going to go away any time fast, but at the end of the day, its going to be the economy, its going to be corporate earnings and its going to be an accommodative fed. Thats going to help the market. Cheryl okay. Scott, final word to you. Whats your eye on the most right now . I agree with teddy. It is forward looking. Things are looking up and what i say, to be kind of cautious on friday, im not saying that were looking at a massive drop in the market. I just think thats going to be an opportune time for people to maybe take a little bit off. But like teddy said, the numbers we get on friday, earnings, corporate earnings going into, you know, the rest of the year here, thats really where i want to see a big pickup. Not just bottom line because of cutbacks. But i want to see the consumer really kicking it into high gear and helping to kick in those corporate earnings. Cheryl i have to say, this has been kind of a jawdropping week for me, but looking at the nasdaq right now, above 12,000, it took us 19 trading days to get here for the nasdaq. Thats incredible to me. To jump that thousand points we just saw in the nasdaq. You know, its on fire. Teddy, scott, gentlemen, thank you. Thank you. Cheryl good to see both of you. Back to the big board, because the dow, we are on fire. 374 right now, 29,020. We are pushing 30,000 on the dow. Again, positive territory for the year. We are about 3 at this point from another record on the dow. Never say never. Well, it is nothing but net for draftkings this hour. The Sports Betting<\/a> giant enlisting Charlotte Hornets<\/a> owner and basketball legend Michael Jordan<\/a> as a special adviser to its board. The fivetime nba mvp and twotime olympic gold medal winn winner [ inaudible ] undisclosed amount of draftkings fair. The husband and wife duo going for a slam dunk of their own by shaking up the shake world. Their Success Story<\/a> and more coming up on the claman countdown. I do what i want when i want it i buy my own rocks and i flaunt it rolling through the streets so stunning you know im a diamond honey im a celebrate this feeling watch me while i break the ceiling you know that unstoppable feeling so ima showem how im shinin walking bold. Ice on me raining down like Diamond Rings<\/a> everyday did you know that you can shop online with a virtual consultant . Ask about special financing yeah i do it right cuz with the diamond credit card. Im a diamond. Tools, cattle, grain, traded goods. Even shells represented value. Then currency came along. They made it out of copper, gold, silver, wampum. Soon people decided to put all that value into a piece of paper, then proceeded to wave goodbye to value, printing unlimited amounts of money as they passed the buck to the future. Thats why its time for Digital Currency<\/a> and your investment in the grayscale funds. Go digital. Go grayscale. So youre a small bor a big one. You were thriving, but then. Oh. Ah. Okay. Plan, pivot. How do you bounce back . You dont, you bounce forward, with serious and reliable internet. Powered by the largest gig Speed Network<\/a> in america. But is it secure . Sure its secure. And even if the power goes down, your connection doesnt. So how do i do this . You dont do this. We do this, together. Bounce forward, with comcast business. Cheryl well, it is the day that fitness fanatics in new york city have been waiting for. Gyms getting the green light to open their doors by mayor bill deblasio after being shut down on march 16th. Gym stocks, planet fitness, club Sports International<\/a> and equipment maker nautilus all trading mixed right now, as you can see. We have about 40 minutes left in the session today. While your workout is important, athletes know that nothing beats proper nutrition. You may have seen these shakes in whole foods, sprouts, cvs or target. Owyn have been serving up 100 plantbased protein shakes to help keep athletes in top form at all times. Joining us now are the power couple that are shaking up the shake industry, the cofounders of owyn. They are both former athletes themselves. Great to have you here. Thank you. Thanks for having us. Cheryl katherine, i know you played soccer. Jeff, you played football. Why get into this really crowded market . What inspired you both to do this . When there are so many shakes and powders and Everything Else<\/a> out there right now . Katherine, first to you. Yeah. So we were both athletes, as you mentioned, so nutrition is something always at the forefront of our minds. We take it very seriously when competing both on and off the field. So when we were thinking about creating owyn, we looked at the marketplace and we were supposed to have access what we were led to believe was the best nutrition out there, but what we came to find out that everything that we were presented with was either dairybased, full of sugar or artificial ingredients. Cheryl thats really true. Your shakes are low fat and low in sugar. There is a need for that out there. They are. We kind of searched long and hard for a solution that we would feel really good about putting into our bodies, and when we couldnt find it, we decided it was time to create our own brand. Then owyn was born. That was about three years ago at this point. Cheryl the fact youve got such high distribution in such a short amount of time shows the Athlete Community<\/a> really, i mean, you became a fan favorite for sure. Jeff, i want to ask you this, though. During covid19, i wonder with all the gyms closed, did that affect the business at all . Did you see demand change . We saw how people were buying. When we originally created the brand, it was really kind of, as you mentioned, that owyn stands for only what you need and it was that ethos that guides everything we do as a brand. The products we create and the ingredients that go in them. We felt a brand built around transparency would resonate with the modern consumer. This modern consumer buys in the gym and also buys at our website and amazon. Once we felt we had brand affinity and people resonated with the brand, then they found other ways to buy it. So maybe not quite as much in the gym anymore, maybe not as quite as much in the Grocery Stores<\/a> and more online, we are seeing massive growth as well. Cheryl tell me about this partnership with cardi b. This is pretty cool. She donated i think, what, 20,000owyn drinks to medical workers here in new york during the crisis . How did that happen . She did. Its an organic development that happened. She just loves the products and one thing thats kind of core to our brand is we spent a lot of time, effort and money on testing our ingredients, testing our finished products and we take it very seriously. We are very proud to say that all of our products are allergyfree and we dont know of any other nutrition brands that can make that claim. Whenever someone like cardi b finds out about owyn, they know thats an organic type of thing and they can safely recommend it to others and specifically new york, which is our home market, there were so many people working overtime and spending countless hours trying to help with covid, in some small way we were very fortunate to have attracted the attention of cardi b and made some kind of impact, either the 20,000 bottles we donated even more as a brand, so fortunate to be in a position to be able to do Something Like<\/a> that. Cheryl before i let you go, i have to ask, you have some pretty big Business Partners<\/a> in all of this. Clear lake Capital Group<\/a> is with you, power plant ventures, you have someone serving as president of the company now. Have any of the Big Companies<\/a> knocked on your door . Have you heard from cocacola or pepsico about doing some kind of buyout . We are the Fastest Growing<\/a> shake in the country, top five in the category so with that growth [ inaudible ] and of course, its attracted some conversations with those larger brands. But selling isnt necessarily something we are focused on at the moment. Theres just massive opportunity ahead of us. Today we actually Just Launched<\/a> a series which is a line of 35 gram protein, zero sugar products, and as you mentioned, very highly skilled team in place, super energetic, super passionate and as a company overall, the passion buckets overflowing. We feel like theres a ton of opportunity ahead of us. Cheryl definitely keep us posted on where this company goes. Three years, you have done a pretty incredible job so far. We look forward to the next chapter. Katherine, jeff, thank you guys so much. Congratulations. Thanks so much. Thank you. Cheryl all right. Well, talk about making money some more, we got the dow up, we are pushing session highs right now. We are up 1. 5 , a gain of 429. We are at 29,075. Its pretty incredible where this market has gone. Now, another day, another run of job cuts, unfortunately, for the Airline Industry<\/a>. Coming up, the latest on what the biggest names in the Aviation Business<\/a> are doing to bring people back to the skies and smooth out the covid turbulence. Live on the ground at Chicagos Ohare International<\/a> coming up next. Right now, the worst place to be is stuck inbetween. Accelerate your investments or pull back . Change the plan or stay the course . Thats why Northern Trust<\/a> is here. With specialized expertise. A history of success through every economic climate. And proven strategies rooted in data and analytics. Giving you more control. Clarity. And confidence. For now and whatevers next Northern Trust<\/a> wealth management. Im a sustainability science researcher at amazon. Climate change is the fight of our generation. The biggest obstacle right now is that were running out of time. Amazon now has a goal to be net zero carbon by 2040. We dont really know exactly how we are going to get there. Its going to be pretty hard. But one way or another were going to reduce our Carbon Footprint<\/a> to net zero. I want my son to know that i tried my hardest to make things better for his generation. Now you can trade stocks and etfs for any amount you choose instead of buying by the share. All with no commissions. Stocks by the slice from fidelity. Get your slice today. Cheryl lets take a look at amc entertainment. The stock is up about 15. 5 right now after they announced that theyre going to have a total of 420 theaters open this weekend, a full 70 of their locations. Big news, its going to be reopening locations in california for the First Time Since<\/a> the lockdown. A different story, though, for the Airline Industry<\/a>. Aaa projecting a nearly 74 year over year decline in air travel by the end of summer. Furloughs in the industry are continuing. Grady trimble is at Chicagos Ohare International<\/a> airport with that story. Grady . Reporter aaa is not even putting out travel estimates for yet another Summer Holiday<\/a> as Labor Day Weekend<\/a> approaches, though they do say most people will be road tripping this summer and that plus the lack of Business Travel<\/a> is the huge problem for airlines right now amid this pandemic. United announcing today that it will furlough more than 16,000 employees come october 1st. Flight attendants make up the largest number of those being furloughed, pilots the second largest. But it also includes technicians, mechanics, administrative positions and others. The furloughs will take effect in a month unless theres an extension of the cares act or some other help from the federal government, and we should point out a lot of employees for united took voluntary packages like leaves of absence so the number of people including flight attendants without work could be even higher. These travel numbers from tsa paint the bleak picture for the Airline Industry<\/a> right now. Half a million passengers going through tsa checkpoints yesterday, that is down 75 compared to the same time last year. President trump assures the airlines, though, that more help is on the way, although there is no deal just yet. Well be helping the airlines. Yeah. Well be helping the airlines. You have to help the airlines. Tough business, always is. Airlines are a tough business in good times. And were about ready to get back to good times. Reporter American Airlines<\/a> just last month announcing that 19,000 employees will be furloughed or laid off if they dont get help from the federal government. A lot of the airlines including united, who announced those furloughs today, say that they dont expect travel to get back to prepandemic levels until there is not only a vaccine developed but widely available and distributed as well. Cheryl . Cheryl wow. Hard to see the Airline Industry<\/a> so crippled like this. Thank you for that live report from chicago. Lets take a look at the markets right now. Look at this. We are above 29,000 and this is no simple feat, folks. We havent been up above 29,000 since february 21st. I mean, what a year its been. Dow up 440, s p up 52, nasdaq up 113. New records seem to be on track for the s p and nasdaq again. Well, nvidia feeling the gforce today on the upcoming release of its newest generation of rtx gaming chips. The literal powerhouse ushering call of duty and fortnite into the future, jumping on a streethigh price target of 650 from bank of america. The stock is up 4 hitting a new alltime high actually earlier in the session. All of this as intel is launching a new beast of its own in hopes of total laptop gaming domination. One of its closest rivals is feeling the hit. Intels ceo is here coming up next. Ive always been fascinated by about whats next. And still going for my best. Even though i live with a higher risk of stroke due to afib. Not caused by a heart valve problem. So if theres a better treatment than warfarin, i want that too. Eliquis. Eliquis is proven to reduce stroke risk better than warfarin. Plus has significantly less major bleeding than warfarin. Eliquis is fdaapproved and has both. Whats next . Reeling in a nice one. Dont stop taking eliquis unless your doctor tells you to, as stopping increases your risk of having a stroke. Eliquis can cause serious and in rare cases fatal bleeding. Dont take eliquis if you have an artificial heart valve or abnormal bleeding. While taking eliquis, you may bruise more easily and it may take longer than usual for any bleeding to stop. Seek immediate medical care for sudden signs of bleeding, like unusual bruising. Eliquis may increase your bleeding risk if you take certain medicines. Tell your doctor about all planned medical or dental procedures. Ask your doctor about eliquis. And if your ability to afford. Your medication has changed, we want to help. To listen, is to hear more than whats being said. And offer the answers that make someone feel truly heard. I understand, lets get started call a Dell Technologies<\/a> advisor today. Tools, cattle, grain, traded goods. I understand, lets get started even shells represented value. Then currency came along. They made it out of copper, gold, silver, wampum. Soon people decided to put all that value into a piece of paper, then proceeded to wave goodbye to value, printing unlimited amounts of money as they passed the buck to the future. Thats why its time for Digital Currency<\/a> and your investment in the grayscale funds. Go digital. Go grayscale. Cheryl the latest salvo in the chip wars, intel launching its tiger lake chip, calling it its best laptop processer ever, providing longer wifi battery life, saying it speeds up its games and surpasses the speed of its previous chip and rival advanced microdevices. Amd is trading lower on the new competition set to arrive in laptops this Holiday Season<\/a> while intel jumping higher in the session more than 3. 5 . We have intel ceo bob swann joining us right now. Bob, its great to have you here, sir. Wonderful to be with you. Thanks for having me. Cheryl talk to us about this new chip. I understand the news of it was leaked a little bit ahead of time. It looks like its going to be quite the piece of the pie for intel in your move to get these pc laptops faster, especially for gaming. Its hard to keep great ideas secret. As you said, at a time when the pc is becoming more and more essential ingredient in everybodys everyday life, whether you are working from home or studying from home or just trying to stay connected, the pc is becoming more and more essential. So thats why the importance of this Product Launch<\/a> of tiger lake today was very exciting. The worlds best processer for computers, dramatic Performance Improvement<\/a> over our last generation and over the competitive offerings and we are really excited about what it does. Its technology that really addresses some of the fundamental things that we are using today to keep connected. Longer battery life, better content creation, more productivity, enhanced gaming. A very exciting product at a very important time when that pc is, in fact, more essential than its ever been. Cheryl i was looking at 2009pc revenue for intel, 37. 1 billion, but then you had record revenue in the first half of this year. So talk to me about how important now that pc revenue, that pc business, is for intel in general and i know you are careful about your forecasting but what can you tell us about the next few months . Well, i think first off, pc has been essential for this company for a long time. Then i think today, as reflected in our first half results, its becoming more and more essential for everyday life. Our ability to communicate effectively is increasingly driven by the technologies that we develop in conjunction with our oem partners to deploy into the pc. So its roughly a 37 billion business. We have a very strong market share position. Todays products we think will enhance that market share position and the role that pc plays in intel is a significant part of the overall makeup of our company. But we are also in a world where increasingly, everything looks like a computer. Whether its your pc, whether its your mobile device, whether its a data center, whether its the cloud, whether its the network, whether its the car, whether its your home, all these things look Like Computers<\/a> and today, we are deploying technologies into the pc and we continue to innovate these same kind of technologies to deploy products in a variety of different form factors. Cheryl i want to mention that cloud, networking, automotive, theres a lot of places for these chips to go. I do want to ask you about apple. Apple is starting obviously to make their own chips. I want to get your sense of what this means for not just your business, but for the chip industry overall. You know, we participate today in a world where [ inaudible ] larger than its ever been. Our market is roughly a 300 billion market by 2025 and we have a large share position in that market, in the low 30 . So the prospects for us to grow and develop fantastic technologies for our customers and all these different devices is significant. We will just continue to bring out special products that address the needs of end consumers and play a bigger and bigger role in the silicon market overall. Cheryl i do want to ask you about china, because the Trump Administration<\/a> is looking to restrict chip equipment and other exports, specifically to china. I know thats a very important piece of business, a major market for intel. Your reaction to what the administrations proposing . Well, i mean, we are a u. S. Based company, but we are very global in nature and therefore, we have customers all over the globe. So we have always been proponents of free and fair trade, and china has been a large market for us over time. So we continue to engage with the administration on the role that the large china market plays for intel but for the Semiconductor Industry<\/a> overall, or just Global Companies<\/a> in general about the size of that market. We ship our products there, we fulfill a need, we make money and we use that money to turn around, reinvest in u. S. Centric r d, u. S. Centric manufacturing footprint. So its a large market for us and obviously, we will continue to operate by the rules of the road in every market that we participate in, that china is important for us and we continue to want to have a level Playing Field<\/a> on a global basis. Cheryl made in the usa. I know you have been working on that arizona facility as well. Bob swan, ceo of intel, great to have you on the show again. Please come back and keep us posted. Thank you for having me. Cheryl thank you, sir. Lets take a look at the big board right now. We are up again above 29,100 now. 29,110. Pushing session highs. The dow just hit a new session high just a couple seconds ago. We are watching this. We are also watching wall street bankers that are thinking about bringing their workers back to the office. Charlie breaks it when the claman countdown comes right back. Are you frustrated with your weight and health . Its time for aerotrainer, a more effective total body fitness solution. announcer aerotrainers ergodynamic design and four patented air chambers create maximum muscle activation for better results in less time, all while maintaining safe, correct form. Aerotrainers unique design allows for over 20 exercises for a total body workout. Plus, you can easily transition from one exercise to the next. Want tighter abs and a stronger back to help relieve pain . Do the aerotrainer super crunch. The prestretch works your abs even harder, engaging the entire core. Then its the back extension, super rock, and lower back traction stretch to take the pressure off your spine and stretch muscles. 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Now its your turn to lose weight, look great, and be healthy. Get off the floor and get on the aerotrainer. Go to aerotrainer. Com, thats aerotrainer. Com. Cheryl guess inc. In fashion in the final hour of trade, resuming its Quarterly Dividend<\/a> program after reporting a smaller than expected loss in the second quarter. A cautious pace of store reopenings helping to cushion some of the blows of covid19 related closures. Guess also saying its wellpositioned for the second half but failing to give official guidance estimates, pointing to pandemic uncertainties. Guess is up nearly 22 at session highs of the day, it is up 11 right now. Definitely a stock to watch. Weve got a lot of news on the banks right now. They seem to be in no rush to bring people back to their new york city offices but Charlie Gasparino<\/a> is hearing something very different. Hes got exclusive details right now. Charlie, what are you hearing . Charlie we are getting some daylight on when they might come back, when the banks, new york city banks, this is essentially new york city workers, you know. Its different for a broker in tuscaloosa than in new york city where if you work at ups, right down the block from us at fox business, you pack into a large building, densely populated manhattan. Remember, we are talking new york city presence only here. We should point out, banks have a major presence in new york city. Yes, they are global, but they are closer, i would say the vast majority or most of their workers are located here in new york city, the Financial Capital<\/a> of the world. Heres what we are getting. You know, you know, a lot of this is dependent upon the virus, upon a vaccine. We should point out that the dow moved up a bit, took a leg up, its at session highs, on a New York Times<\/a> report that a vaccine could be released in november. Remember, this is somewhat of cheryl you mean the post . Charlie excuse me . Cheryl the post or the times . Charlie this is a times report about a november release of a vaccine and it took the market a leg higher. A lot of this is dependent upon the pandemic, how long it lasts, vaccines, how good the vaccine is. But as of now, what we are getting from the banks is this. They are saying nonessential personnel probably wont be back into the office until 2021. They are saying that best case scenario, 50 of their personnel in new york city will be back by the end of the year. One interesting aspect i heard from brokers at ubs who were told not to expect to come back to the office until april 2021. Now, why are these types of folks being told this . They are not traders. Traders have to be in the office. At least thats the theory. Its hard to trade remotely, gazillions of dollars of stocks and derivatives, you know, the office is where the i. T. And technical expertise. So traders go in, computer programmers go in, essential workers go in. Everybody else works from home. I think what the banks are saying is simply this. Jobs such as human resources, public relations, legal, maybe investment bankers, definitely brokers, also known as financial advisers, under the current scenario, they are looking at a very long time span before coming back to the office. Sometime in 2021 at the major banks. We say major banks, talk about citigroup, about morgan stanley, about bank of america, about ubs. The big banks, jpmorgan, that have a presence here in new york city. So again, barring something, a vaccine thats 100 effective, usually vaccines are not, we should point out, we would be lucky to get 70 effective, barring if the pandemic picks up steam, this could be pushed out even further. This is all data and virus dependent and vaccine dependent. But were talking about a long drawnout process of people coming back to new york and heres the interesting thing. Possibly you could say this kills new york city real estate, right. The one thing that may save new york city real estate, at least in the short term, is social distancing. If you have to bring 50 , you want to bring 50 of your work force in, youre in your own office, if you have social distancing, you need a larger office, like a manhattan headquarters of say ubs or jpmorgan to handle 50 , just because of social distancing. The real question becomes longterm. The banks sit around and say okay, a lot of people that work from home, they dont need to be in the office that much, can we cut our new york city real estate. I think thats the very real possibility and the reason why people are getting very scared about commercial real estate in new york city. But again, banks are talking 2021 for these folks, these nonessential folks, and you know, heres something that bankers, i talk to Bank Executives<\/a> all the time. They are telling me their workers want to come back to work. They are getting sick of being home. They are also saying that the divorce rate will shoot up dramatically if they dont get back to work. People are saying that. If they dont get back to work. So thats what people are grappling with. Cheryl the work at home thing is not all that. We are hearing that from a lot of employees now. And im not asking your opinion, but i know a lot of people i talk to that are at home are ready to come back to the office. Charlie heres the flipside of that, cheryl. They are lucky to have a job. A lot of people in this country are hurting and this is a small price to pay to have a job. The country is in very desperate shape right now and new york city, particularly, friends of mine in the Restaurant Business<\/a> are about to close up. Cheryl i know. Im going to get depressed. New york citys a mess. Dont even get me start order the mayor of this city. Im out of time. It would get really ugly what im about to say. Thank you for bringing up the times report and the vaccine. Any news on a vaccine will push the markets higher, youre right. Thank you for bringing that to my attention. Dow up 491 just off the session highs. All right. Closing bell, we have now got nine minutes to go. Coming up next, cashing in on some of the coronaviruss fallen angels. Our countdown closer has the picks when the claman countdown comes right back. Introducing stocks by the slice from fidelity. Now you can trade stocks and etfs for any amount you choose instead of buying by the share. All with no commissions. Stocks by the slice from fidelity. Get your slice today. Cheryl closing bell is ringing in about six minutes from now. Were looking at dow 29,000. Nasdaq 12,000, new record closes for both nasdaq and s p 500. We have come up very sharply within the last hour or so of trading i want to say for the dow hitting fresh session highs repeatedly. A lot of this is talking about stimulus, talking about a vaccine. Charlie gasparino mentioned a New York Times<\/a> report. There is lot of news circulating. Cautious optimism. Looking at strong markets. Breaking news. Wall street journal is reporting that Robinhood Markets<\/a> is relating to sec probes with deals with high speed traders. The investigation is in advanced stage. The company could have to pay a fine exceeding 10 million. Were seeing a big shift in stock markets, as millenial investors in the market thanks to robinhood. Reporter since early parts of this year trading platforms have seen millions of new users starting to invest. A large fraction is 24 to 35 years old. What is interesting, more than half of the age group of investors are trading more often since the covid19 pandemic began compared with 30 increase for the general population. Overall, individual Retail Investors<\/a> are now about 20 of equity trading. That is the Second Largest Group<\/a> of investors in the stock market. Almost reminds you of back in the 90s. What is interesting as well the commissions have basically been eliminated here that contributed to a more fair and accessible marketplace. Those potential investors are jumping in. Here is barstool sports founder dave portnoy just last hour during america invests together, that town hall with charles payne. Listen to this. I got in at the beginning of corona, in march, around there. I learned. I evolved. I have had a fun time doing it. I learned doing it. It has been very successful so far. Reporter setting up an account takes 15 minutes online. All you need is a computer or phone. Hard part is choosing actual investments. You have to roll up your sleeve, do research about companies you might want to invest in. Experts is a you always have to do your homework. Remember foxbusiness. Com is ends hag the portfolio tracker and real time market data. It is all free. Were giving you tools too, cheryl. Cheryl Jackie Deangelis<\/a> great report from the newsroom. Tesla, bonds hitting a record high as the automaker makes plans to sell five million dollars. Ford are bonds fallen angel index outperforming the high yield market this year. Todays closer, Dave Albright<\/a> new fleet asset management. He joins us now. Dave. Talk about this fallen angel opportunity. This year alone we had 150 billion of fallen angels. We anticipate another 50 billion. Some we owned. Some we didnt. Ford we didnt own. We purchased once it became a fallen angel. It has a large issuer, has to go index of etfs as an aggressive borrower. Fallen angels are seven years in. Lot of fallen angels like ford hat 10 and 30 year paper. You get the kick from having a lot of duration. Other opportunities we play, occidental is one after it fell. Qbc we owned it sold it after a profit. Hildebrand we owned it, and bought it back. Cheryl when you have the stock market hitting record of a record, is this a tough sell to investors . So i mean it is a tough sell because the index right now is about 2 but if youre investing in asia the corporate index is 90 basis points f youre investing in europe is it is about 60 basis points. With the dollar weakening over the last two years to the developed currencies it is actually a good investment. Right now you have Foreign Investors<\/a> coming in. You have insurance companies, people like me, the crossover investor being a multisector guy we still think it is a good opportunity. Dont fight the fed. Cheryl is there risk in this . The risk would be rates back up with longer during rage holdings, but right now we think the fed is all in. Continue to evolve their policy we get something on the fiscal front, that is even better. Even better opportunity is in high yield or even emerging markets. So those are another leg of the trade. First impact is Investment Grade<\/a> corporates with the fed stepping in very, verying a agressively and quickly. Cheryl we havent heard a lot about emerging markets in general in the past six months. That might be worth a look. Dave, thank you very much for that. I want to point your attention right now. [closing bell rings] were off the session highs. Were closing above 29,000 for the dow. Nasdaq is above 12,000. New records for the nasdaq, for the s p 500. Look at these numbers. A lot of news breaking in the last hour. Thats it for the claman countdown. Take it away connell and melissa. Connell the dow closing above that number 29,000. It is the first time weve seen that happen since way back in february. S p 500 and nasdaq both at new highs. It is the second Straight Record<\/a> for the s p. The fourth in a row for the nasdaq. We have a lot going on. All this came on with the report with the cdc telling the states to get ready to distribute a vaccine before election day. That really seemed to help stocks. Well to through it all for you. Im connell mcshane. Melissa that would be great news. Im melissa francis. This is after the bell. Fox Business Team<\/a> coverage. Susan li","publisher":{"@type":"Organization","name":"archive.org","logo":{"@type":"ImageObject","width":"800","height":"600","url":"\/\/ia801708.us.archive.org\/35\/items\/FBC_20200902_190000_The_Claman_Countdown\/FBC_20200902_190000_The_Claman_Countdown.thumbs\/FBC_20200902_190000_The_Claman_Countdown_000001.jpg"}},"autauthor":{"@type":"Organization"},"author":{"sameAs":"archive.org","name":"archive.org"}}],"coverageEndTime":"20240716T12:35:10+00:00"}