tv Countdown to the Closing Bell With Liz Claman FOX Business April 20, 2015 3:00pm-4:01pm EDT
much. that is all we have for now. i hope you're making money today. the market is on fire right now. up 216 points. no one better to take you through that last hour than lori rothman. "countdown" starts right now. lori: it is a super hot trading days. can the comcast timewarner deal be saved? both sides will sit down with the government this week. what will it take to get the deal done and what will it mean for future m&a? meanwhile, former goldman sachs chairman jon corzine who presided over mf global is apparently considering launching a hedge fund. and with unfinished business with regulators which want to bar corzine from trading commodities. will corzine be shut down before he can even file paperwork? the man whose name was synonymous with a key piece of banking
regulation. tom is saying banking regulation is terrible. advice on how to fix it. will it work? is anyone listening? last hour of trading. very healthy rally on our hand. so let's start the "countdown." ♪ lori: and good afternoon, i'm lori rothman. in for liz claman this afternoon. markets enjoying a nice boost. all the headlines you need to know. peter barnes is in washington with the latest on a powerful verbal bomb lobbed on all that regulation supposed to stop another banking crisis. blake burman is in washington covering the early runners in the presidential election. what could be a huge thorn in hillary clinton's side. adam shapiro following the comcast timewarner merger. scott with how -- ira is
in the pits of the c me. michael is monitoring the moves in oil. let's get started. with all that regulation, bankers hated it. a lot of americans didn't understand it. was it an expensive waste of time? paul invoker is calling for an overhaul of financial regulation. (?) the current structure is inadequate and splintered. what kind of new reforms is he proposing? peter barnes in d.c. with the latest. peter: he's trying to fix a piece of legislation that dodd-frank barely touched. he wants to reorganize agencies starting with a huge new financial regulator. post the financial crisis, regulation of banks is riddled with gaps. invasion opportunities. while transactions and risk have shifted to the
less regulated shadow banking system. >> the structure of the regulatory system, a system that was built up piecemeal. it never had a good -- had an overall look. nobody has done anything to make it more consistent and effective. >> so his remedy is to consolidate banking regulation of the fed, the occ, the fdicc, cfc, into a new were you dential supervisor authority. (?) the fed would still do financial rule making along with setting monetary policy. then he would merge what's left with the fcc and cfc into a single agency. he acknowledges his proposals are a long shot. noting that 25 official reform proposals post world war ii went virtually nowhere because of lobbying by
stakeholders against change. lori. lori: peter barnes, thank you so much. markets getting a boost today. positive earnings and china. but will it be enough to erase friday's sharp decline? let's get to the floor show. traders at the new york stock exchange, the cme group and the imex. scott redler. what a difference a trading day makes. >> a lot of traders brought down a lot of risk on friday based on what happened in asia. then you come in to a huge gap up. we're trying to participate. we're trying to get involved. we want traction. this time, can we hold higher and finally break out? as we go through earning seasons. we're beating those low expectations. getting more sectors involved. we might be able to get this 2105. versus this range of 2015 which is driving traders nutty.
lori: what's the message in this volatility driving us nutty? >> it's probably the dollar. you know, we overshot. we all built in these earnings that will be very bad the first quarter because of the us dollar. and if you take a look at the companies that are reporting, right now about 3% aren't making it, when we're normally 15% don't make their numbers. it's different. we've gone too far. so the markets come back. however, i warn everybody, this is a market up and then a market down. you saw what happened friday. nothing changed that much in the world to drive you back up to these heights today. so it's a market looking for direction at these levels. lori: and michael, at the imex, how does 56-dollar a barrel figure into the outlook? >> more and more volatility going forward. summer driving season coming. we'll have the same thing. what's changed in a day or two? we're 10% higher. oil last week, over $51.
looking for new highs. we had a 2-dollar range on a quiet day. the ranges will get a little bit more wild. i think the market is looking to stay a little stronger along with the stock market. lori: what would be the catalyst? we have 146 s&p companies reporting earnings. what are you keeping your eye on that will influence the direction of this market? >> i want to see more earnings come in above the lowered expectations. ibm hasn't a good solid quarter in a while. if they come out after the close and it goes up, that may lift the indices. facebook is key for momentum. i'd love to see them have low expenses to get that to new highs. we're seeing new traction. mike had a great call on oil. everyone was a crowded short. he said it would go higher. here we are 10% higher. >> that's nice.
thank you for participating in our floor show this monday afternoon. well, back to politics. hillary clinton hitting the campaign trail in new hampshire. she's at a live event where she's trying to appeal to small businesses. will a new book overshadow this trip? this book is accusing hillary for pay for play while she was secretary of state. to fox business' blake burman now from washington. blake. blake: hi, there, lori. this book is called "clinton cash" the untold story of how governments helped make bill and hillary rich. the new york times says it alleges that certain donors were giving to the clinton foundation they were rewarded with favorable us policy decisions. the book claimed this happened during hillary clinton's tenure as secretary of state. one example cited was the columbiaian --
according to the article, a clinton campaign spokesperson called it absurd conspiracy theories. the white house press secretary josh earnest faced several questions about this a while ago. earnest was asked if he could assure that donors didn't receive preferential treatment? josh: the president is proud of the work that clinton did as secretary of state. for these specific accusations that are presented without any evidence, i'd refer you to the political types that are more well versed in those types of things. blake: earnest said there was a memorandum to uphold standards. hillary campaigns in new hampshire. she held a roundtable discussion at a small business in keene. they tell fox that clinton is not planning on addressing the allegations about that book today. lori.
lori: it's interesting. right? so many of the republican candidates have been grilled. right? but so far with hillary, we had the big outburst about chipotle, then the scooby van she's driving in. do you think this is kind of the turning point with this clinton cashbook coming out. finally the media will drill down on her or try to. >> there were 20 republican contenders in new hampshire that have thrown their name in the ring. they had to answer about policy positions. hillary clinton once again sitting down at a roundtable and talking to a handful of selected people. as we mentioned, she won't be talking about this book at least as it stands today. >> selected people. very interesting. we're just about 50 minutes away or so from the closing bell. why target's piece sunday leaves millions of shoppers red in the
♪ lori: time for a stock alert. hasbro took off like eye rocket. 5% jump in quarterly revenue. boys toys based on the transformer movie helped hasbro beat estimates for sales and profit. hasbro shares $70.10. a 12 and a half we'll call it percent in this trading day. only 45 minutes. strong day for hasbro the toy company. (?) is the comcast timewarner deal making headway or is this a last-ditch effort? they will be meeting this wednesday with justice officials hoping to keep their merger afloat.
here more with this story is adam shapiro. adam: the 45 billion-dollar merger hangs in the balance when those representatives meet with officials with the justice department on wednesday. the combined company would control 30% of the country's paid tv market and 20% of the broadband internet market. staffers in the justice department told them that the merger is anticompetitive. comcast will attempt to convince the regulators that the merger is necessary to compete against apple tv. the merger will bring substantial benefit to consumers without any harm. comcast agreed to concessions from regulators in 200 2011 when it acquired nbc universal. >> jack is joining us. he is going to discuss the fate of comcast and timewarner cable merger. jack, welcome to you.
do you think it will happen, at the end of the day? jack: i don't think so, to be honest with you. i think it's a real stretch for timewarner and comcast to say this won't harm competition long term. i think it will. lori: do you think that will be the issue as they meet with officials? the monopoly factor? jack: i think so. remember, not too long ago, at&t tried to buy t-mobile. plenty of different industry. wireless rather than in the cable tv business. but similar issue, sprint and t-mobile were trying to get together. that didn't run by the government either. what's troubling to me here is that comcast is right, that the tv side of things probably won't -- probably wouldn't hurt competition that much. they're losing share anyway. all tv companies are
losing on the tv side. hulu, apple tv and the rest. what's troubling is they would control 57% of the broadband going into our homes. cable tv modems that everyone relies on. that's a huge percentage. what's to prevent them from raising prices? there isn't a lot of competition in that space. large cities are probably -- it's not so true. most places in the country, there's one provider. you have no choice, but to go with them. lori: maybe that's why comcast and timewarner haven't had a meeting in quite some time according to reports? jack: you know, it's hard to say. i'm not sure they're on the same page all the time, to be honest. and then there's also, you know, charters in the background saying that if comcast doesn't get timewarner. they'll go after timewarner. that's another interesting one. but i think this is really -- this is a troubled merger. i'd be surprised if it
actually takes place. >> jack, this is adam shapiro. i have a quick question for you on this. you mentioned other potential purchasers. would it be a content provider who needs distribution along the pipeline in the future? i mean, this is a hypothetical, for instance, news corporation, 21st century fox. it wanted the content side. >> it could be. if you look at the distribution, there are two things that are in play here. number one is the basic infrastructure. forget about the tv side for a moment. but everyone requires internet connectivity into their home. that's really the pipe that makes everything work. on top of that, then you can layer either tv. multiple channels, by the way. most channels that most of us probably never watch that get bundled. or go with a netflix or hulu or amazon. even if they don't
produce content today, they're moving in that direction. it could be that a content provider would want to have that infrastructure in place perhaps to give them advantage over some of the competition. it's -- it certainly could happen. adam: and my only other question, would there be a regulatory hurdle for a 21st century fox to go that route with timewarner cable. comcast has it. but would timewarner have that problem? >> that's an interesting question. my guess is that the justice and fcc would look at it differently because they're not direct competitors. there is some competitive issue there, monopolististic issues perhaps. net neutrality types of issues. but i think that probably would get approved. lori: all right, gentlemen. thank you so much. jack gold and my colleague adam shapiro. adam: good to see you. lori: espn is saying not so fast to verizon. the sports juggernaut is
rejecting their plan to break up cable and offer more choice in constructing panels. espn and espn2 are not part of the core packages. sources close to espn tells the associated press that verizon may have released details about the new offering before contractual details were fully hammered out. there's shares of verizon. up 42 cents. a full%. eight tenths of a percent. we're now 40 or so minutes from the closing bell. (?) we've heard from the media analysts. what are the bankers saying about comcast's deal to buy timewarner? charlie gasparino has exclusive info on the banker's view of this deal. can it go through? why is one former coca-cola executive buying into the jerky business? he made a fortune when he left coke to work on a start-up called
♪ lori: all right. have a look at the markets. dow up 220 points. that's not even the best level. gain of 266 was the high of this monday trading session. positive earnings news from news out of china. reducing reserve requirements. the stimulus in china is helping sentiment to the upside. nasdaq up 65. major market averages all up in excess of 1%. the russell up an even 1%. thirty-five minutes from the close right now. i want to zero in on one stock that's down on its luck today. that is caesars
entertainment. they're off more than 16.5%. the company asked the judge for more time for a reorganization plan. to present a plan to get out of its $18 billion in debt. back to the comcast timewarner merger madness. wall street bankers are questioning if comcast has the stomach to battle it out with the doj. here's charlie with the exclusive details. charlie: i want to be clear here. i'm getting it from bankers who cover the telecast space. they know people that are working on this deal, but they're not working directly on the deal. here's the interesting thing, comcast will try to save this. we know that. they'll try to -- they want to buy timewarner cable. a lot is riding on that. agreements with verse various other content providers. not to mention all the deals that are contingent on the doj giving a go on this.
they're trying to save it. the concessions are likely to be such a high hurdle, that the obama administration, you know, does not like transformative deals that they -- they are not going to like just agree to anything. that there's a feeling inside comcast that they actually have more work to do internally, that they have to deal with the nbc u situation. get that straightened. it's a mess right now. a lot of things to be fixed. let's face it, comcast has some of the worst customer service. notoriously bad. they know that. they have those two issues to deal with. a lot of talk inside comcast at least according to these bankers. depending on the level of concessions that the obama doj wants. antitrust people want. they're willing to walk away from this. this is something that they know they have other fish to fry in a company. and, by the way,, you
know, two years from now, they'll do better no matter what. they'll either have hillary clinton or a republican a much more friendly administration. that's it thinking on wall street in terms of transformatial mergers. when this thing started coming out, i thought it was a dance. i tweeted out a lot. i talked to some people, particularly inside in the cable industry, they said, they'll give a little. this is justice department doing what they do best. squeeze a few more concessions. the feeling on wall street is much more pessimistic among bankers. the obama administration does not like these deals and they'll be asking for so much. for example, i read this in the journal, i find this almost unbelievable that comcast would agree to this. net neutrality on comcast. what does that mean? as this thing is in limbo in the courts, net neutrality is not the law. can you imagine one company being forced to
adopt net neutrality rules basically saying everyone has equal access. it would put them at a major disadvantage. lori: how closely is everyone watching every hurdle? we have a meeting. charlie: huge. lori: what could be accomplished? charlie: listen, i think we'll find out. listen, it depends on the level of concessions they really want. they may ask for so much. that's the feeling on wall street that they'll ask for so much that comcast will walk away on this. that's the general feeling. this is an administration that is not friendly -- listen, there's been a bunch of them they scuttled. they said no to nasdaq going after two stock exchanges. why we need two is beyond me. it's not worth it. i'm telling you, stay tuned. the real reason why other than this deal is
so many other deals, particularly in telecom are contingent on this. lori: charlie gasparino, try not to stand me up next time. we have plans. don't miss tonight's opened on fox business. "strange inheritance." jamie colby will travel to small town pennsylvania. a man leaves his family a struggling movie theater. an emotional last request. have a look. jamie: he thought he would run the theater forever. he wouldn't say renee would you run things. what are you going to do, how will i keep this thing open? his dying words was don't let this theater go. >> "strange inheritance" airs here at 9:00 p.m. on fox business. big rally underway. great news if you're along this market. volatile ride. you have to have a strong stomach for it. does the new nuclear deal with iran spell opportunity for us
investors or is the risk too great? and just when americans were getting used to those lower gas prices, things may be about to change. jeff flock has the story in the nation's heartland. jeff. jeff: sort of like a frog in a pan, lori. ticked up a penny a day for the last week or so. we'll have the reason behind it as we search out cheap gas on the indiana illinois border. stay tuned. ♪
emergency meeting after a fishing vessel carrying hundreds of my grants capsized. it made it the mediterranean's dead list capsize ever. (?) the rescue ships are responding to new distress significant analyze off the coast of libya. (?) six men have been arrested for trying to join the islamic state. they were arrested as a year long investigation into young men from the minnesota area trying to join isis. the embattled former head of mf global and chairman of goldman sachs wants to get in the hedge fund game. jon corzine wants to open up his own fund with his own money and outside investors. he faces legal challenges that could keep him from starting this hedge fund. and target's website was
absolutely overwhelmed by shoppers clamoring for a piece of lilly pulitzer's clothing collection. target's website went down earlier today. selling lilly pulitzer items that was selling for a fraction of the price of the palm beach luxury items. target's shares are popping. shares of oxford industries surging as well today. they make the lilly pulitzer clothing line. and those shares are up $5 or nearly 7% at the moment. now for the past few months. consumers have finally begun to celebrate low gas prices by opening their wallets. what they saved at the pump, they are spending, well, gas prices are back on the rise. oil production is falling. demand is rising in time for the peak summer season. jeff flock joins us with what's in store from the ohighways of chicago.
>> we're bouncing through -- i found a gas station which is just about right at the national average. take a look at the numbers. a penny a day over the course of the past week. 2.45 a gallon for regular. part of the reason for that, it is -- you know, number one, inventories. maybe i'll get out and see if we can get gas while we're talking to you. i better turn the car off. yeah, it's a good idea. like opec, for example, still pumping heavily. number of folks in opec still pumping. us production unfortunately down. let's see if they'll take my credit card here. and so that has, you know, reduced supply. that, of course, has some impact on -- it's not a debit card. has an impact on the amount that's out there. put my zip code in too. yeah. enter. got you.
the other thing, real rig counts in north dakota, take a look at the numbers on that. did i get close enough? oh, there you go. i have to do this all at once. drill rig counts down 26 fewer rigs last week than this week. for some reason, that's not working. lori: jeff, while you figure out how to pump gas because i know it's pretty tough to do that, give us perspective on the rig counts and why it's so influential on oil and all the markets that react to the price of oil. jeff: yeah. it's less us production puts less oil into the system. us is a big producer right now. and so, you know -- >> is anyone behind you waiting for gas? jeff: you know, i don't know why
this doesn't want my thing. lori: don't get frustrated. jeff: i'm a failure on live television. so embarrassing. lori: listen be with you startee report driving. you got the pump in the right place. now you're cleaning the windows. you're the best. great to see you, my old friend. jeff: see you, lori. >> beef jerky, healthy makeover. chef's cut is taking on the heavyweight. changing the classic snacks bad for you image. liz talked to the cofounder and blare, and she asked blair why he decided to change the face of beef jerky? >> it was mostly just for myself and friends and family. and out of nowhere, enough people started tasting it. and we basically snowballed from there. and being a golfer and an avid sports fanatic,
i wanted protein. i made it strictly for myself. >> everyone has a special recipe. to turn it into a business where you have a name and packaging and all these things that go with it, ho how did you make that jump? >> that i didn't expect. we were in new york harbor at a golf club. we were in pebble beach. then we were in bellaire. then we ran into rohan. he tried it at both sites. being a chef, he thought, this is chef-driven. i better look into this. he was looking into a high protein snack to look into as a possible investment. >> that's your expertise. for people that don't know. you've heard the name pop chips. vitecoco. and bay.
the wonderful drink i'm addicted to. this is your wheelhouse. when you saw beef jerky, not necessarily known as the healthiest snack in the world. you thought this worked with your healthy snack? >> liz, i'm looking for stuff that's better for me. that i can feel good about eating. whether it's drinking or eating in snacks. the problem is, all the snacks out there. i play golf. when you play golf, it's not like you're burning 1,000 calories. you make the turn, what do you have? hot dogs. fried chips. and snicker bars. not ideal when you're not burning calories and putting all that junk in your system. i saw this beef jerky. i grew up in africa where we had beef jerky. when i came to this country, it was horrible. it smelt bag. smell the next
mainstream beef jerky. horrible. mystery meats. i saw this cool packaging. and i thought, let me try this. all i did was open this up. i grabbed it. it was like steak in a bag. i was like, what the hell is this? it's 30 grams of protein. 9 grams of sugar. this is the perfect snack between meals. >> they're clear on this. 30 grams of protein. that's where america is looking for now. a quick fix of protein without a lot of chemicals. how did you get the process down to the point where certain health food stores said, yes, i will make room on the shelf because it is healthy? >> we did make a proprietary soy we made from scratch. we use our own products. it was by design to lower the salt, lower the sodium, make a little more tender piece
of meat, and, of course, hand flavor. we needed some flavor. what was on the shelf, i couldn't eat. liz: you have a lot of competitors out there. people would see, you're not alone with the logos on the screen. >> we're not. liz: i call them artisanal beef jerky. i believe hers hersheys is buying your competitor. let's talk about the price. how much? >> it's between -- right in line with every other jerky. 5.99, 6.99 retail. >> i'm sold. not a jerky fan, but i'll give that a shot. thanks, liz. closing bell, 15 minutes away. big rally. decent earnings. more stimulus care of the china central bank. does the nuclear deal with iran mean to put
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you can see that's up 2%. how about hasbro. that has been a stellar performer hitting a new high. came out with their numbers. strong first quarter. they may make a deal with their play dough. morgan stanley rose 16%, their profits. the best rise since the financial crisis. royal caribbean, a big loser. (?) the strong dollar, people haven't been spending aboard. we'll see if that's a theme with ibm's numbers after the bell. we'll watch to see any other details on ibm. that's a winner right now. back to you. lori: let's go over to phil now. what's the number one thing you're keeping an eye on in the pits? >> the headlines to see if any rich premiums go in with the headlines out of yemen. obviously the news that the theodore roosevelt is congratulation into yemen to intercept a ship coming into iran is
raising the stakes. usually when we get this kind of movement, we can see movement in the dollar. the quality in bond buying. i'll be nervous to see how this plays out in the next 24 hours. and to see if traders worry about what could be an escalation of the situation in yemen. lori: thank you so much. nine minutes until the close of trading. the markets are up solid. the dow up 211 points at the moment. so as us markets hover around record highs, should investors look elsewhere to find good deals on investments? specific markets on the frontier sector may be your best bet. kim, emerging market strategist. great to have you with us. phil is concerned with these headlines that a navy aircraft carrier is moving into yemen to intercept any weapons
provided to the rebel houthis by iran. and iran, i know, is one of your most interesting frontier investment picks. so let's begin there. what do you see in terms of investment potential in iran? >> i think in iran, we have a country that has a population the size of germany. has the world's second largest oil reserves. it has excellent demographics. that is, it has a lot of young people. iran has suffered from amazing underinvestment for years. i was there last year. you go around iran, there's not a single international chain hotel. no class a office space in the entire capitol or the entire country. there's an enormous need for infrastructure investment. once iran -- once sanctions are lifted from iran, there will be a wave of investment. and i think iran is incredibly well-positioned to make --
lori: it's risky though. the nuclear deal, it won't even be -- even if it is complete until june. what if we ultimately do not lift sanctions in iran? and you mentioned the oil interests there. i mean, the middle east, it goes without saying, is a hotbed of uncertainty. who will be the leader? which one? saudi arabia? iran? the israel component of it as well. very risky in my view. >> lori, you don't put the rent money in frontier markets like iran and other markets. lori: okay. yeah. >> but if you're looking for a market to diversify and looking for something that is situation-specific. and you're in a world where commodity prices are falling. you want something with situation-specific drivers. in iran. if sanctions are lifted, i think you'll see, as i mentioned, a wave of investment. i think that one way to invest in iran, because obviously us investors can't invest directly in the tehran stock
exchange. few international companies have operations in iran. there is a company, a french car maker called poojo, an adr. when you're in tehran, you see about half the cars on the road are that brand. lori: i know you have frontier picks in argentina and mongolia. how do you get access to these markets? what's the advice here? >> these markets -- a lot of these markets have adrs. with argentina, there's a lot of political uncertainty. later on this year, there will be a presidential election. whatever happens, the next president will be a lot better. there's a lot of low-hanging fruit in argentina. a lot of fairly easy policies that can be implemented to improve things significantly. lori: i have to go. i want to see what kind of return you can expect. >> if you'll invest in these markets, two or three times your market
you're looking at. in argentina, for example, the national oil company. ypf, traded on the new york stock exchange, sitting on the world's largest unconventional reserves. there's enormous upside. there's a smaller company in canada. madalina energy that's sitting on enormous reserves. all it takes is a few changes. lori: you've given us a lot of ideas to chew on. kim, thank you. >> thank you. lori: we're approaching the closing bell. less than five minutes away. a new book details how the clintons became rich with foreign donations. what this could mean for hillary's run for the white house. ♪
let's go to nicole at new york stock exchange. talk about the tech sector. been rally the market. amazon what a day. >> amazon hit a 52-week high. it is up 14 1/2 dollars. david: wow. >> 389. tech overall was absolutely a leader. david: some of the old guys in tech, like ibm doing well also. they're about to report we should mention. >> let's take a look. that is a leader on dow jones industrial average. 3 1/2% at 166.45. we're awaiting. we'll see what revenues they bring in. see if strong u.s. dollar is the problem. david: if you listen carefully you hear stuart varney squealing. he loves microsoft. relying on microsoft for his retirement. microsoft had spectacular day. 3 1/2% doesn't sound like mike but for microsoft it is big. >> anybody will take 3% on any given day. imagine you got 3% all the time. that is a great move. hewlett-packard another winner.
morgan stanley, halliburton were among other winners that were notable on earnings. [closing bell ringing] david: i'm happy. i have a little bit of halliburton. i'm happy about that. bells are ringing on wall street. it is a spectacular day. so much we have the big ups and you downs on the markets. dow is settling to the plus side. all indices i was going to say above 1%. s&p is a little bit of a laggard. but it is above 2100. that is a critical area. some people look at 2120. other people have other ceilings in mind. a huge day for the market. will it last? you're up couple hundred points one day. we'll talk about that with our panelists. evan bayh, former governor of indiana to talk about hillary clinton. she just answered some of the charges that came out in the new
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