Transcripts For FBC The Claman Countdown 20240712 : vimarsan

FBC The Claman Countdown July 12, 2024

Day event. Our new betting week close there, never to be seen again, perhaps . Barstool sports has put Penn National gaming stocks firmly in the lead, but nearly a month after its recordbreaking rollout, whats the next may for Penn National gaming whose stock surged 153 year to date . Penn national Ceo Jay Snowden is here in a fox buzz exclusive. Plus business exclusive. Plus, weve got the woman who traded Silicon Valley for the heartland and now has her homegrown products flying off amazons digital shelves. But first, we begin with a fox business alert here. Investors are pulling back the reins on workhorse at this hour after it gallopedded ahead at the opening. Take a look at the utility maker. It secured about 200 million in funding from institutional lenders in the form of senior secured convertible notes due in 2024. So you can see where we opened, above 30 a share. Right now were at 27. 05. So really pulling back, and possibly just getting to the flatline from where it closed on friday. The Company Plans to use the proceeds to increase production, advance new products and refinance debt. Investors are buying dillards stock, web bush increased its price target to 49 after Berkshire Hathaway investment manager ted wexler one of two traders entrusted with Warren Buffetts massive stock portfolio he disclosed a 1. 1 million share in the Department Share or personally, not even for berkshire. That makes ted wexler the fifth largest shareholder. That stock is powering ahead by 31 . Now, at this hour back on friday twitter, i dont know if you guys remember this, but it had taken a dive. In a reversal of fortune at this hour, the Microblogging Service getting a boost after Deutsche Bank upgraded the stock to a buy, raised its price target to 56 a share. Its jumping to 48. 34. And, yeah, lets get to the super tech tuesday. Investors are polishing up their credit cards ahead of tomorrow. Amazon kicks off prime day 2020, its twoday sales event when it offers discounts and savings across the platform. Amazon is jumping 5. 6 . Looked at apple, up 6 . Punched a onemonth high ahead of tomorrows unveil of the muchawaited first generation of 5g phones likely to be called iphone 12. And best buy kicking off its own version of black friday tomorrow, deals straight from the electronic retailers not yet released black friday ad will be available tomorrow and wednesday. So, of course, that leads to this, folks, lets just face it, at this hour we once again have a big tech meltup. So as consumers gear up for the new black friday, will investors be unable to tear themselves away from their love affair with technologys handful of leadership names . To our floor show traders on this very busy monday. Scott redler, we may get the answer tomorrow with the kickoff of Third Quarter earnings season because were getting jpmorgan, j j, citi, goldman, bank of america, wells fargo wednesday, a lot of big names in addition to that. Any signs of rotation out of this handful of big tech names, scott . Well, at this point theres no signal for that, but you rarely get a signal. You remember last week when they rotated out of tech we were together i saying, hey, buy apple, buy amazon. If you did that, you did well. So if we look towards the rotation for maybe earnings, i would say that jpmorgan its been a nine month channel. Its done absolutely nothing. If you want to trade there, buy a call spread. Its not that sophisticated, you could buy the 105 calls and sell the 110 calls. If jpmorgan is actually positive and responds well, investors could make a nice percentage return. If that doesnt work because sometimes they like to sell jpmorgan on earnings, look to wang bank of america, buy that dip, and then usually you can play the middle there. Take a call spread with jpmorgan and perhaps if that doesnt work and they sell them down, get involved with bank of america in the 25s. Liz is this weird, this year to date picture of jpmorgan, you wonder what the heck, because this is the biggest bank by revenue and deposits. Yeah, i am interested to see what happens tomorrow when people will be kicking themselves saying why didnt i listen and get in today. Phil, to big tech once again. It became the defensive play of the season in the face of the pandemic. Usually wed see treasuries or gold as a defensive play. Of course, the bond market is closed today for the holiday, but, phil, are you hearing about maybe any whisper numbers in any of these names thatll offer earnings surprises and perhaps bore investors away from this overpoppe lated sector . I think you can tell by the way the market stock is acting, these tech names are going to blow away expectations, and theyd better because, you know, they have a lot to live up to. Liz yeah. Sometimes we really build up these stocks in anticipation, and they disappoint, then you get that scott redler break to buy, hes going to buy, and youre going to say why did we hang out . I think the biggest fear or is that we do get good earnings, and these stocks really take off, and then you do get that rotation. I think theres a rotation play waiting to be had. You know, when you get a lot of Commodity Funds or stock funds that are sitting on a lot of these stocks and theyre making a lot of money, they like to protect those profits. So you could have that situation. I think the, you know, materials is going to be one lawyer that i think is under one area that is undervalued. It can come back after the elections. Theres probably going to be some type of stimulus package, you know, creating more intention to use these things. So i think that that is the biggest liz right, right. But, you know, breaking up is hard to do. Dont get me out of my tech, whatever you do. Liz and one last question to you, scott. So the s p is within 2 of an alltime record the dow has already e roused, starting erased, starting last friday, every loss year to date because it has been a very difficult row for this year. Do you get a little concerned, is there any insurance that youre buying . And if so, what, so our investors can maybe piggyback off your trade . Well, ive been holding about 20plus positions throughout the course of the last few months, and i tried to buy insurance policy. I bought vix call spreads for november for the election and for december just in case we dont have a president and just because the market doesnt like what it sees. Having insurance is great when you need it [laughter] if you have a big portfolio, you know, if you have to go with some spy puts or put spread or vix call spread so you can sleep at night, thats not bad. Especially if youre a trader. If youre an investor, this year also proved you could put monthly flows in, you get a nice cost average, do it at the long term, and theres less risk of being in the market if you have a longterm plan. Liz ive never heard of the vix charity, but, yes, youre donating money. [laughter] and, phil, i do want to look at crude oil. People are wondering whats going on, crude has fallen two sessions straight. I know that libyas coming back on line, so theres going to be way more supply, but what do you see in this sector . I think were getting that dump because of libya. Opecs going to have to react. If that happens, oil should find some ground here, make no mistake about it. I cant believe we didnt talk about the Jcpenney Cyber sale. Thats coming up tomorrow. Nobodys mentioning it, i dont know. [laughter] you know, weve talked about apple and amazon, jcpenney in the cyberspace, who knows whats going to happen tomorrow. Liz yeah. Well, yeah. And people will be home, and theyve gotten a lot better at using their credit card online. Good to see you guys, our floor show traders, giving you their road map. Were really appreciative that youre here. Speaking of roads and maps, do all business roads lead to amazon . With the closing bell ringing in 52 minutes and the dow up 309 points, when were talking about all business roads, were actually including the business of agriculture in that question. On this National Farmers day, up next a sizzling hot familyown farm whose products are flying off amazons warehouse shelves within hours of arriving on those shelves. Who is this farm . What is their secret . You are going to meet them next when the claman countdown returns. Dont go away. As the original host of wheel of fortune, i was blessed to be part of building one of the greatest game shows in history. During that time, we handed out millions of dollars to thousands of contestants. And i thought, what if we paid the contestants their winnings in gold instead of cash and prizes . Back in 1976, we had a wonderful contestant named lee whose threeday winnings were valued at 12,850, and you know what . That was a pretty big haul back in 1976. So i wondered, what would have happened if lee had put 12,850 in cash and then put 12,850 in gold in a safe, just sitting there sidebyside from 1976 until now . Well, i went back and i ran the numbers, and what i found was amazing. We all know that 12,850 in cash would still be sitting there, but it would be worth a whole lot less than it was in 1976. But that 12,850 in gold, safely stored away, its worth 135,000 as of the taping of this commercial. Now, thats more than 10 times the original amount. And thats why ive been putting my money in Precious Metals for years, and i dont see any reason to stop now. [announcer] if youve bought gold in the past, or would like to learn more about why physical gold should be an important part of your portfolio, pick up the phone and call to receive the complete guide to buying gold, which will provide you important, neverseenbefore facts and information you should know about making gold, silver, and platinum purchases. If you call right now, you can also receive a copy of our new u. S. Gold report for 2020. Inside, youll find the top 25 reasons why you need to start owning gold today. With nearly two decades in business, over a billion dollars in transactions, and more than a half a million clients worldwide, u. S. Money reserve is one of the most dependable gold distributors in america. And if we win, we get to tell you and doug. How Liberty Mutual customizes Car Insurance so you only pay for what you need. Isnt that what you just did . Service stand back, im gonna show ya how doug and limu roll, ya you know you got to live it if you wanna wi. [ music stops ] time out only pay for what you need. Liberty. Liberty. Liberty. Liberty. Liz as tens of thousands of familyowned businesses and farms unable to survive during the pandemic closed for good, one generationsold farm turned to technology to flip the hyperspeed switch on its pipeline of nongmo products. As the covid panic spiked in early march, legume and grain farm palouse saw six weeks of produce at the Amazon Warehouse sell out in a matter of hours. Thats when owner Sarah Maynard tapped into her Silicon Valley background n. A fox business exclusive, sarah, owner of palouse, joins us live. Happy National Farm day to you and the team there, sarah, hows everything going . Hey, thank you so much. Thanks to having us on and also farm bureau for putting this together for us. Liz oh, we love this story. And right off the bat oversimply ifying this, i know i am, but could you describe lets just call it the day before the pandemic and the lockdowns began sweeping as cross the nation. What was your world like and then the day after when suddenly there was this massive demand . Describe that. Sure, id love to. So we sell chickpeas and wheat berries on amazon, and theyre grown directly on our farm. Weve partnered with amazon for over ten years as a Small Business to send products to their Fulfillment Centers and have amazon fill the orders. It allowed me to get an alternative work force in place, is have more flexibility in schedules, so many benefits to partnering with amazon as a Small Business. Thats just one of them. So we were chugging along, the normal growth patterns. Everything was doing fine. And one of my managers was just stressed. She was, she couldnt keep anything on the shelf, i mean, we started feeling this early february. We never climbed out of the holiday stock at Amazon Warehouses. So she sent up the red flag. And i thought i better go i work at a different office. I better go check and see whats going on. And as i saw what was going on, i started watching the numbers very closely. And the sales started jumping at astronomical levels. So much so that we had to immediately flip product, we saw 4,000 growth in some products. We had to flip of course, the Fulfillment Centers wouldnt have time the catch up. So we flipped to filling those orders in our warehouse. And so we had to staff up are you there . Liz yeah, im right here. Okay. So we had liz so let me jump in here, let me jump in here because, clearly, you guys were, as you say, chugging along, and then suddenly you see that theres this massive demand for dry goods and pantry statements which, of course staples, which, of course, works perfectly for what you guys have, split peas, lentils, wheat berries. There was this bizarre desire on behalf of everybody to start baking bread, and that works perfectly with you guys. Talk to me about what you as a family farm thats been around for generations saw as a massive challenge. I know you ran out of bags in which to put your products, and you leaned on tuneny local businesses tuneny local businesses to help with that . This is fascinating to our viewers. So when your working 1824 hours a day, every day theres a new challenge. So the team would come with challenges, and it was, like, so exciting. It was an exciting there was a lot of momentum internally, a lot of loud music playing to keep us, you know, full of energy to fill these customer orders. We immediately knew that, we knew early march we were running out of packaging, and we had to figure it out really quickly. So we started using all of our u. S. Channels to pull in packaging. And we knew we had to do a complete shift from our fabric bags. Our fabric bags, theres a long time to manufacture. We needed something faster that we could do local. So we not imported, we bought all the craft bags in the u. S. And had them shipped here from anybody that had any, and we launched a new site. I took one of those to a local print shop, j and h printing, and i looked am hose will the this homeless at this point, and i looked and pleaded with her with these eyes of desperation and said can you print them, and she said yes. And we took that packaging, and within 24 hours we had a number one bestseller on our hands. We had about 14 liz nice. Wow. Yep. And we just kept growing. Liz well, this is a story of the going gets tough, the tough get going. You have a Silicon Valley background. You had worked in that region, in that area in marketing for a up couple years, so you were able to kick in. Whats your final word on amazon . Because, you know, there are people that want to beat up on this company, and then there are others like you who were able to at least get your products in front of the nation and, quite frankly, the world instead of your little area. So, first of all, i wanted the platform. Heres what ill tell you, corporate spaces dont mean anything. Theres another large Online Ecommerce business, theyve been allowing price gouging of my products recently. We brought it to their attention, they wont take care of it. Amazon brand protects my Small Business. They have an amazing ability with the brand protection to take care of me, and who would have thought that i needed to protect the brand of lentil and garbanzo beans . [laughter] yeah, right . Amazon keeps getting new tools to help businesses like mine succeed. I think what youre going to see is that as a seller on amazon, you have so much more access to really good reporting, first of all, really good brand protection and really good relationships. Liz okay. What amazon says they will do, they do. Look at their investment todays the last day if you go spend 10 with a Small Business on amazon, theyre going to give you 10 tomorrow on prime day. Liz okay. It sounds like a good deal. [inaudible] yeah. Liz im liking the lentils. Im a big fan. Sara, on this National Farm day, you are a huge Success Story during difficult times. I know you were hit with tariffs as well, but you are still standing, and we love to tell that story on National Farm day. Thank you so much, sara mader. Thanks for having me. Thank you. Liz check it out. All right, the closing bell ringing in 40 minutes and, yes, were still up 297 points for the dow. S p up 1. 8 or 62 points, but watch the nasdaq, up 312. Its leaving correction territory in the dust today, but we still have 39 and a half minutes now left to trade, and you never know what might happen. In the meantime, sports fans going wild last night. Where do i look, where do i look . You had mlb playing off, the biggest teams in the nfl facing off, and the l. A. Lakers winning the nba finals. But was it an even bigger win for casino and Penn National gaming . Penn National Gaming Ceo Jay Snowden joins us live in a fox business exclusive next. And to the biggest matchup of all, President Trump and joe biden are on the road again today. Up next, Connell Mcshane takes us to the ground to one key swing state thats coming down to the wire when the claman countdown returns. Dont go away. Number so they can bill fake claims in your good name. Dont give them that chance. Just calling to confirm your medicare number. Do you have your card available . For example, if the caller says theyre from medicare, watch out. Its probably a scam. Dont give out your card number. And always check your claims statements for errors. Report fraudulent charg

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