Transcripts For FBC After The Bell 20160803 : vimarsana.com

FBC After The Bell August 3, 2016

Among them as liz was talking. We have tesla, herbalife and twentyfirst century fox. Liz back to the markets. The dow seeing signs of life after the longest losing vehicle in a year. Goldman sachs, jpmorgan, apple, those are big gainers today. Lets bring in trader scott shellady. Watching big moves from oil in the cme. Lori rothman on floor of new york stock exchange. I need to get your thoughts on big names in retail. That is a certain connection to the consumer, 2 3 of the gross domestic product. Reporter absolutely with the disappointing last print on gdp. Talk walmart will do a deal with jet. Com. That deal 3 billion. That could help them compete with likes of you know who, amazon. Com. Kate spade what a disappointing quarter for kate spade. They have disappointing novelty pocketbooks. It was total bust. They missed on top and bottom line. Had to lower full year outlook. Shares punished 18 . Crocs, the folks in china are not hot on crocs anymore. That is real trouble spot. Top and bottom line both missed for the rubber shoemaker. Shares absolutely crushed, down 23 . A lot of earnings i will help report some of them throughout the hour. David lori, well see a lot of you this hour. Oil traders getting a relief. Oil stage as bit of a comeback. Scott, what is the cause . Some weak shorts coming into the market last couple days as weve been grinding lower than 40 a barrel. We had inventories come out. We had a build looking for decline in crude oil. Everybody kind of read the third line which was gasoline. That was a big decline. That ultimately caught the market on fire and those weak shorts had to bail out. That was big reason why we had that rally. David all right, scott, thank you very much. Liz david, look at the dow jones industrials, you see we gained 39 points. That does in a bigger sense reverse the sevenday losing streak. David thank god. Liz growing anxiety weighing on corporate earnings. There is no way around that. Lets bring in todays market panel. Jonathan hoenig from capitalist Pig Hedge Fund and gary bolt obama, from kaltbaum Gary Kaltbaum from kaltbaum capital management. Gary, no way around it, looking at consumer over past three month, consumer better yet we cant seem to gain any air here with the economy. Let me give you idea what i saw today. Aig reported earnings, down 29 , revenues down 6 . There is a ton of that going on in the market. That is why there is anxiety around the market, players about what is going on here. For me it is all about the Central Banks. They continue to raise the bar. They continue to print more. They continue to go more negative in the Interest Rate environment and that is what is buffeting markets right here. As far as the economy think it is okay. I been saying three years, you have a good quarter, you have a bad quarter. You cant get any action. There is simple reason why. There is too much debt around the globe. In fact malls sieve amount of debt. Until that is taken care of i think we have a boring market. Liz, this is bull market. As you mentioned a bit after snapback today, over last couple days it hasnt done much damage. Two to one new highs, new lows today. Some energy and utilities have fallen off but most stocks are still doing well. For me at least two big Warning Signals and two issues, gary alluded one of them, Central Banks and central bank Interest Rates and spiking of gold. Were seeing indication of Systemic Risk can build. I think for now the trend is up and you stick with the trend. Liz optimism reins with business. Business viewers always want to know what is the trade. Guys, thanks very much. David well stick with our guys, two days ahead of the july private payroll report, 179,000 jobs, expectation is little less than 170,000. Didnt move market. Friday, i think everybody is looking for that as day that will move the market one day or the other, no . Yeah. Numbers will be fine. Were in Election Year. Government has a way with their numbers. Everything will be aokay. David wait a minute. I know what youre suggesting here. We have had some bad numbers this summer. We started out, it was june, that awful number, so theyre not going to be manipulating numbers, are they . Oh, no, not at all. Look at Participation Rate over the last few years that has crashed to the ground. David okay. I once emailed the Labor Department to get acepeople left the workforce. They said they dont have a list. David they dont have a list. That is what theyre in business to do. Guys, well have to switch now to earnings, twentyfirst century fox, the Parent Company of this network, just out with their Fourth Quarter results. Ashley webster has been looking through the numbers. What do they say . Reporter were getting them now, david. Start with earnings per share coming in at an adjusted 45 cents which nicely beats the estimate of 37 cents but the revenue just shy of the estimates coming in at 6. 65 billion. The estimate was for 6. 68 billion. Fourth quarter tv revenue, fiscal Fourth Quarter report by the way for 21st century, Fourth Quarter tv revenue coming in just over a billion dollars. Were delving into more of the information as it becomes available. The Conference Call for this, david and liz, at 4 30 as well. David big divide between the bid and ask. That very often happens. It could go up or down next couple minutes. Well keep coming back to you depending what happens with those afterhours figures. Sure. David we another Earnings Report out, right, liz . Liz david, we have tesla out with Second Quarter results. Lets get to lori for numbers. They were expecting a loss . Reporter it was wider than anticipated loss but teslas shares are bid higher in the extended session. With the results being released. Shares were down and rebound ad little higher. It was a loss of 1. 06 per share, much wider than loss of 52 cents analysts were estimating. Revenue in line, 1. 6 billion, just a hair off. In terms of deliveries, this is the key metric for tesla, 50,000 deliveries expected for second half of 2016. Looks like that may be a bit fewer but they are saying, this might be what investors keying into, tesla is looking to ramp up its anticipated weekly production. There is a bunch updates on plans for the model s. Looks like that is still on schedule. Theyre a lot of cap spending growing the business. And you know, looking for details on the solarcity, the 2. 6 billion acquisition there. And then of course there was the fatal crash involving the model s and autopilot function there. Looking to see if the company will talk about that and where the investigation stands. For now, back to you. Liz the stock slightly lower in the aftermarket session but back to our panel with reaction to all the numbers and mike caudel from the fox sports automotive team. Let me bring in the numbers. Gary what do you make of it . Tesla every time they make a car they lose money, simple as that. For me pretty much a fad stock. If we were in bear market it would be half the price. They better start making money in the future. Earnings is everything when it comes to markets. Theyre taking advantage of a better market right now. Liz wider than expected win much wider. Liz fox a, that is certainly considering, youve got very strong film, you have very strong cable. As we wait to break out those number, your thoughts on that . Liz, the media stocks in general have had a real tough go of it. Fox, disney, cbs as well. To see better than expected, earnings afterhours pop is encouraging sign. Investors quality of the brands, longlasting annuity type revenue, looking closely with a lot of media stocks, i wouldnt sell them short. Liz mike, you come in here. We love to hear your perspective from the fox sports side. I look at it like this, 50,000 vehicles have been sold. Thats a lot. Theyre a new automaker, still relatively new to the marketplace. Theyre up from 1. 2 to 1. 6 billion a year. That is big deal. They are building a gigafactory to build batteries. This new place in manhattan, ipark, tesla is building charging stations for every tesla owner in the city. They are doing things they need to do to build the company. Yeah, shares are down. Sales are up. Liz our own tom sullivan has a tesla, showed me the app on the phone, everybody says where is the nearest gas station . There are very you few gas stations in new york city. When you do wheres ther. Est charging the nearest charging station, the map is clustered. Seems like opportunities. Ramming up production and gigafactory are they extending themselves too much . 2. 6 billion solarcity, trying to do souptonuts, i admire any ceo trying to do a lot but sometimes you can bite off more than you can do . Solarcity was bailout after Company Heading south pretty quick. Elon musk in is a genius. I know a lot of people owe own the cars, they live by the cashes, die by the cars. They love them very much. Bottom line dealing with markets and businesses you have to make money. They still dont. They keep promising they will and another quarter passes. If we go into a bear market, this baby will be cut in half, promise you that. Liz, to garys point, oil is already not at bear market, close to bear market. The appeal of a 60,0, 80,000 green car has diminished. Theyre trying to come in with a cheaper version. Since the stock has gone public, up more than a thousand percent. Down yearoveryear. It is a fascinating play. You have to roll with the the punches. Thanks, guys, thank you very much. David talking about rolling, well go back to twentyfirst century fox. Ashley has been looking through the numbers. Reporter pouring through all the stats, guys. Cable network programing for twentyfirst century fox up 11 at five billion. Domestic affiliate revenue up 6 . Helped by fx networks and fox news channel. Strong dollar taking bite out of International Revenue but the company talking about strong growth in india and also movie studios. That is what i was looking at when you came to me. They have been hurt a little bit and down yearoveryear, reflecting what they call lower contributions of both film and tv studios, although they say this years compliment of movies will apparently do better than the last quarter. So, interesting stuff. Were getting more into it. Conference call guys, coming up at the bottom of the hour at 4 30. David ashley, 11 increase in ads on fox news and fox business. I guess that is the political race. Next quarter i think we see same kind of thing. Meanwhile, 15 cases of locally transmitted zika now reported in florida amid desperate calls for more funding to fight the virus. Critics say the Obama Administration has money and methods to reduce the outbreak but theyre playing politics instead. Liz meanwhile, Hillary Clinton at a denver tie manufacturer, overt jab at donald trump whose ties are made in china. She is touting her plan on jobs and economy. Former reagan economic visor art laffer gives us his take. David donald trump getting hit from all sides even his own as there is talk of a quote, intervention. Former president ial candidate Mike Huckabee in on what that is all about. This is a very big moment for trump. He has got to find a way to slow down, really learn some new lessons. This is a little bit like the apprentice. Except he is the apprentice. He is not the boss. He doesnt get to say youre fired . The American People get to say, youre fired polidents unique micro clean formula works in just 3 minutes, killing 99. 99 of odor causing bacteria. For a cleaner, fresher, brighter denture every day. If you have medicare parts a and b and want more coverage, guess what . You could apply for a Medicare Supplement Insurance Plan whenever you want. No enrollment window. 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Revenue pretty much in line, 1. 2 billion, over 1. 19 billion which was the forecast. Sales up 3. 1 in the quarter. Herbalife is raising fullyear guidance to boot. Shares are climbing, david. David lori, thank you very much. Liz . Liz tivo moment trump is holding a rally in daytona, florida, denying controversy his campaign may be in trouble. Listen to what he said. I want to till the campaign is doing really well. It has never been so well united. We started on june 16th. I would say right now it is best in terms of being united that it has been since we began. Were doing incredibly well. Were leading in the state of florida, you saw the poll. [cheering] david despite those comments, some republicans are criticizing donald trump, some are even crossing party lines to support Hillary Clinton, among them, congressman Richard Hanna of new york and hewlettpackard enterprise ceo meg whitman, also very prominent gop fundraiser. Are more to follow . Here to Mike Huckabee, former governor of arkansas and former president ial candidate and fox news contributor. Governor, what do you make of that intervention stuff. I thought that for alcoholics or folks who join scientology. Up interventions. What i there had been intervention with me before i got into of your key people, people you really trust, that you really listen to, will show up and say, hey, you shouldnt have said that. Or, hey, you have got to get rid of this person or bring this person on. That is not all that unusual. So the media is going nuts. David what would you tell him . What should he not have said that he did that kind of distracted him from the target which is Hillary Clinton . Yeah, i have said several times what he needs to do is think of himself as boxer in the ring. His opponent is hillary. He cant take his eyes off her, go out into the stands and start beating up some of the fans who are heckling him. He has to leave that alone. I have got three words for him. Dont eat cheese. Now here is what i mean by that. Every time you take a bite of the cheese, the trap falls right on your head. And the democrats are feeding him cheese. David theyre baiting him. Baiting him, trying to get them to take it. When he does it, it always ends up in disaster. David as you well know, is that when he is attacked he goes after the attacker, very often he is attacked people who are not, should not be the focus of his campaign, like, guy whose son was killed in iraq and that is part of problem. Reince priebus, the head of gop, who had been getting along very well with donald trump is recently disappointed with his behavior. Will he be part of socalled intervention . I dont know. But i think that, reince and donald trump have had a great relationship. I think it is kind of relationship where they can be brutally honest with each other. And thats healthy thing. I dont think this is the end of the line. I mean a lot of people are in panic mode. Some of the people who are saying, were just not going to support like meg whitman. Look if a republican says they can support Hillary Clinton, theyre not a republican. I mean it would be one thing to say i cant go with donald trump. I may support gary johnson and bill weld okay, that may be tolerable but my gosh, when you look at who hillary will put on the supreme court, who she will. David the stakes are high. Mistakes barack obama made in Foreign Policy you cant do that. David i have to ask one more question about donald trump specifically. Some people like Rush Limbaugh and other folks who have been very supportive of trump, you can not judge him by previous campaigns. He is totally different from previous campaigns. His Winning Strategy is totaling differen

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