Transcripts For FBC Varney Company 20161028 : vimarsana.com

FBC Varney Company October 28, 2016

Corner of their business. Oh, we cant have that, they missed. So theres an analystinspired selloff in progress. Now you know why we do not do expectations on this program. But we do a lot of of politics. Leaks revealed bill clinton will take 116 million from his link to the charitable Clinton Foundation and the state department. The wall street journal calls the clintons grifters in chief. Its a sordid tale of money grubbing and influence peddling on full display for the public to see, not in the media, but here. And a better growth rate for the economy. Varn Varney Company is about to begin. Lets start with this, governor mike pences Campaign Plane skidded off the runway at Laguardia Airport last night. Nobody injured. A dramatic scene, it was a rainy night in new york city. Governor pence spoke to fox and friends about it in the last hour. Roll tape. We had about ten seconds of uncertainty at the end of that landing, but, just, so thankful. So thankful to our pilots and frankly, to the first responders. The plane had no sooner come to a stop that i felt we were surrounded by first responders. Stuart you know, ten seconds, as youre saying, ashley, ten seconds of uncertainty is a long time if you count it out. Ashley yes. Stuart obviously the n. T. S. B. Is investigating the second runway at laguardia is back open as of this morning. Lets get to sam on. The share price is going to be sharply lower at the opening bell. Down, i think, about 40, 45. Liz, give us the numbers liz the operating expenses were up 29 , thats what wall street is looking at. Even the revenues up by that amount. Six straight quarters of profit coming in strong, they didnt like the expenses going up. Whats happening, basically triple, more than triple the number of warehouses its building. They built 23 warehouses in the last three months and been doing a big push into india and the alexa echo is a big deal. Now you can get alexa echo on tablets, you can do it via command not just a speaker system. And since 1997. And son pl amazon plows money into the company and thats why the profit line takes a hit. Stuart thats what they do. Churn it back in, thats what they do. Ashley investors got upset. When are we going to see the profits . Theyre seeing those. Stuart but not as much as analysts expected and down goes the stock. Drives me nuts liz you are absolutely right how the led the show, its irritating that play, but shipping costs were up. And people are criticizing amazon for wanting to build out its own fleet delivery system, why not . They can control the cost. Stuart they want to grow in every corner of the business and the analysts take them down 40 bucks or more liz might be a buying opportunity. Stuart and were watching google, stronger profit and stronger sales. A stock buyback to the tune of 7 billion, its search, youtube, Cloud Business all of them doing well for alphabet, google. 830 almost this morning. Baker hughes, they are for services to drillers. That stock is going up. Ge is in talks to merge its own oil and gas business with the baker hughes operation, baker hughes will be up. Look where stocks are opening up. We had a growth. Well discuss that momentarily, 40 points up for the dow. And oil at 50 a barrel. The leading Economic Growth up 2. 9 in the Third Quarter, annualized at the 2. 9 of growth. Trump economic advisor, steve moore is with us. I bet that the clinton camp is going to be all over this, saying, told you, told you, this economy is doing okay. What say you . Well, no, i dont agree with that at all. Look, i was predicting 3 growth for the Third Quarter and number came in at 2. 9. Look at the previous three quarters before that, growing at about 1 , what that tells you, stuart, the last year of the u. S. Economy is growing 1 1 2 , thats a horrible number, barely skating out of recession. You look at whats happened in the specifics of this report. You still have investment, which is still pretty lousy. Over the last year or so, its been down over the last year. One of the interesting things i saw in this report, stuart, was that actually residential investment actually fell. So that means the Housing Market is starting to soften again. Stuart i would expect, however, the clinton camp will be all over it. Look, stronger than expected. Of course. Stuart i would expect to see that. Of course they will. By the way, it was stronger than expected. I think most economists said 2. 5 to 3 . We got 2. 9 , but again, look at this over the course of the last year. Now, youre right. The headlines of all the newspapers because we know where the media is, you know the growth rate accelerates. 2. 9 , this is now the 10th year in a row, stuart, the 10th year in a row, the last two bush years and first eight years of obama, that we have not had 3 growth in a single year. Thats pretty bad. Stuart ten years of sub3 growth is lousy, quite frankly. Thats lousy. Steve, would you stay there for a second . Ive got more for you later. Of course. Stuart ive got to move onto the Clinton Foundation. New leaks, the pay for play revelations from wikileaks. Lining the pockets of bill clinton. This is now a fullblown scandal, its out in the open. Just check out this headline from kim straws in todays wall street journal, calls the clintons the grifters in chief. Talking about wealth any Foundation Donors buying access. Katie is here, and well go into the details of this later, but in broad, general terms, i want to know if whats been revealed is illegal. Is it . Absolutely. At its very worst, we have a now longrunning exposure through wikileaks and through the emails that were reading that at the very worst youve got evidence of actual violations of federal statutes. We all know about the obstruction of evidence through the destruction of the email servers. We also know that there could be pay to play bribery statutes that are in violation. At its very best though, in terms of the light most favorable to Hillary Clinton, stuart, what we have here is cheating the process and the American People. Hillary clinton created a special status in the state department when doug ban from tenao strategy was there, called special Government Employee status. Declan kelly, had that status so he could run this forprofit consulting business that had 11 clients give six to sevenfigure sums to the Clinton Foundation. As you noted at the beginning of the show, stuart, bill clinton himself is going to be betting in excess of 100 million. Its unconscionable and its illegal. Stuart okay, but we are not going to get any legal status before the election if not before the next six months. The price to be made has to be political not legal, do you agree with that . I agree with you, in that regard. If its the political fallout its the lack of Hillary Clinton, gaining, buying, grifts her way to the white house. You have to hope the statute of limitations on the particular statutes violated do not run prior to her being in office. But, obviously, a lot of the stuff dates back as far as 2011, per this memo, or 2001 when bill clinton started netting his money we have to be careful about the statute of limitations from a legal of standpoint. Stuart and hang on, katie, i have the talcum powder story for you. And news from apple, unveiled a new laptop, it has a touch screen tool bar at the top of the tool bar, you can do things that you can do from your touch screen on iphone. Is this innovation from apple . [snoring] okay, is it a blockbuster . Blow the gates off . No. Stuart thank you, ashley, thank you. Ashley sorry. [laughter] a 70 Million Dollar settlement for a woman who claimed talcum powder caused her ovarian cancer. Question for our attorney, kat katie phang, do we need warnings . And we have this from nikki haley, she says shell vote for trump. She says its all about policy. Shell vote for him. Let me show you what donald trump had to say about the scandals on Hillary Clinton. We should just cancel to the election and just give it to trump, right . What are we having . You can run an errand. music playing push it real good. announcer vo or you can take a joyride. Bye bye, errands, we sing out loud here. Siriusxm. Road happy. announcer vo you can go straight home. howard stern on radio welcome to show business. announcer vo or you can hear the rest of howard. Bababooey announcer vo sorry, confused neighbors, howards on. Siriusxm. Road happy. Do you own these stocks . You own Goodyear Tire and rubber . Its going down. Theyve cut their forecast down a couple of bucks there. How about exxonmobil . Cost cuts partly offset, declining oil prices. It will open slightly lower. All right, and stocks, a lot more for you later. 11 days to go, donald trump continues barn storming and with three events today. New hampshire, maine and iowa, three key swing states and comes after yesterdays barn storming of ohio. And real clear politics has him up one point in ohio. Hillary clinton, have to tell you this, one event in iowa and nothing planned for this weekend. By the way, tim kaine, his appearance tonight in florida has been canceled. Another new revelation from wikileaks. This one showing clinton staffers admitting there was money being taken from foreign governments. Ashley yes, this is all about a proposed statement on the Clinton Foundation going back to february of 2015 and the initial line describing the foundation said that theyve received support from individuals, organizations and governments from all over the world. John podesta looks at that and says, i dont think thats a very good thing to do. We need to do another line and said i would tighten the top to kick off how the Foundation Work benefits millions, lets not get into talk about money from foreign governments getting into the foundation. Stuart thats it, cover it up. We dont want foreigners we want their money, but dont want to tell anybody where the money comes from exactly. And ed rollins, how are you doing . Very good, thank you. Stuart and youre telling me the trend is towards trump . Its closing. You know, obviously what i would say today, is he going to win . Possibly. Maybe not probably, but possibly. Stuart really . In the possible column now. A couple of days you didnt say that. I didnt feel that a couple of days ago. Hes campaigning aggressively. The new things on the Clinton Foundation are basically the story of the day. Obviously theres no defense. In the defense she talked about 95 of the money from the Foundation Going to charity and 6 . Stuart one appearance today and nothing this weekend. Stuart and tim kaine drops his appearance in florida tonight. No reason given. I suspect because he cant get a crowd. Could be, certainly didnt have a big crowd the other day. The reality, its going to close, again, theyve got lots of advantages and spent a lot of money and resources against trump, but the trump people are very strong ap supportive and well see where it turns out here. Stuart now, this poll from abc, five days ago, this poll said that Hillary Clinton was up by 12 points. Thats a huge lead. Right. Stuart today that same poll shows her up 4 points. Thats it. Her lead has been cut from 12 to 4, in what, five days . Thats it . Does that put any store by that . Yes, i do. Again, i think one of the best polls we have is our own poll, fox poll, they have it 3 points head to head and 5 points with everybody else in the race and thats a good poll. Between 5 and 7 and closing to trump and closer to next week and were still down 7 or 8, a hard time to get. But if you close in the next few days, these issues of the Clinton Foundation, how they spent money, misspent money, taking money from foreign governments, obviously has an impact. The story is now about her, not about him. Stuart i was thinking that story, the scandal story, it doesnt make the front page of the establishment media and doesnt make the broadcast news, however, i think it reaches a lot of people online. It does, because its an outrageous story. The idea that you would take money from these countries that were very familiar with who dont necessarily have our interest and people say why would saudi arabia give 25 Million Dollars . Why would other countries give, you know, enormous sums of money . Obviously theyre trying to buy access. Stuart it just looks bad. Gets 116 Million Dollar. Thats fabulous wealth. That is. Its an incentive to run for president in the future to make money in the post. Its bad judgment and the key thing is, shes secretary of state, a person running for president for eight years, the mere fact that her and her team werent watching this from the perspective of politics, bad judgment. Stuart grifters, thats not a word heard in england. And its not a nice word. Not a word that the wall street journal uses often. Stuart grifters in chief, describing bill and Hillary Clinton. Not a good place to be. Stuart you love it, dont you . I love the game and love a good race. Its going to be a good race. Stuart to sum it up, its possible for donald trump to win . Its possible. Is it probable today . Maybe not. But certainly possible. Stuart ed, thank you for being with us. My pleasure. Stuart thank you. Now ive got to tell you about amazon again. This will probably be the stock of the day. Not because its going straight up as it used to, but because its going straight down. Its going to be up about 40 bucks right at the opening bell. Now, why is that . Because the company did not meet analyst expectations. Never mind how many people use never mind all of that. Never mind how much money they are investing in growing in the future, forget it. It so happened that amazon missed, thats the word they used, missed expectations so down it goes. How would you feel if youre an amazon stockholder this morning . Do you think thats legit and cheated maybe by this wall street crowd . I certainly would. All right, calm down, stu. We have this, a woman wins a 70 million settlement, claiming talcum powder gave her ovarian cancer. Well deal with that one, too. The daughter of eric garner, a guy who died after a chokehold by new York City Police officers, shes angry at the Clinton Campaign after what wikileaks revealed they said about her father. Well be back. This woman owns this house, with new cabinets from this shop, with handles designed here, made here, shipped from here, on this plane flown by this pilot, who owns stock in this company, that builds big things and provides benefits to this woman, with new cabinets. They all have insurance crafted personally for them. Not just coverage, craftsmanship. Not just insured. Chubb insured. Romantic moments can happen spontaneously, so why pause to take a pill . Or stop to find a bathroom . Cialis for daily use, is the only daily tablet approved to treat erectile dysfunction so you can be Ready Anytime the moment is right. Plus cialis treats the frustrating urinary symptoms of bph, like needing to go frequently, day or night. 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Its a cruise line, Strong Demand for americans cruising around north america and im trying to do the math here, roughly a 3, 4 gain on a 68 stock. Ashley 10 would be 6. 80 so 6 . Supposed to be no math on this program. Ashley apparently there is. Stuart ive got a headache. Now this, a jury i cant believe this, a jury in st. Louis awards a woman 70 million. She alleges in her lawsuit that years and years of using baby powder, talcum powder, caused her ovarian cancer. Shes back, katie phang. What . 70 Million Dollars for talcum powder use . Whats going on here . Okay, so i thought texas everything was bigger in texas. I guess everything is bigger in st. Louis, including run away jury verdicts. 72 million. Earlier this year in one jury trial, 50 million. A few months later in st. Louis. Theres a common denomnators and its the fact that juries dont like johnson johnson. They think if youre using powder by your genitals and apparently a woman that you have contracted or diagnosed with ovarian cancer. And these numbers are outrageous, this is the reason why they get tort reform, but look, theres no causal link according to johnson johnson, they say the studies, they say the studies are biased. That people have to rely upon the memories of how they use the talcum powder and how oft often, afternoon scientific links katie, you can use that word, i cant. Thank you, katie. Well be watching amazon and watching 40 odd dollars. In this, i say its pure noncess. Theyre investigating in every corner of their business, they want to grow that company and wall street doesnt like it because they missed by a few cents of profit per share. We will be dealing with this and well be back. Month here. You should have quit while you were ahead. 32 years at this place and ive got 9 days left before retirement. Look jim, weve been planning for this for a long time. And well keep evolving things. So dont worry. Knowing whats on your mind and acting accordingly. Multiplied by 13,000 financial advisors. Its a big deal. And its how edward jones makes sense of investing. Ebecause th

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