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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  October 6, 2016 3:00pm-4:01pm EDT

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an extended. of time more than 25,000 people are already without electricity. it's supposed to be the most powerful storm in more than a decade wins topping hundred 40 miles per hour. this is in the stay on it for you right now. >> it is now t minus 11 hours exactly before the full force of hurricane matthew smacks of the coast of florida in advance while straight in wall street in the world are watching and waiting it is now down to 16 points it's how you could describe the market. the effects are already beginning to be felt at this hour. on your right palm beach florida. we are expected and already seen rain intensify and it
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just the last charger -- less hour. it is extremely dangerous where is it in a land. rethinking daytona beach or maybe just north of jacksonville or if it scrapes the coast of florida. more than 12 million people now stand in its path all up and down the florida coast and all the way up to georgia and even beyond in south carolina. matthew has left a murderous wake at least a hundred 40 people have been killed and that number is expected to rise. if you want to talk latitude longitude let's just give it to you that as the bahamas. now receiving the flow -- full brunt of the storm. look at this. the government only beginning to assess the damage but early estimates say at least three and 50,000 people need some kind of assistance after the disaster. it is being called the worst
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humanitarian crisis. international aid organizations are already appealing donations. the eye of the storm we know this. it is situated about hundred 25 miles east, southeast of west palm beach. with winds up to hundred 40 miles per hour. it is in effect from the bahamas to florida's east coast. the good news is if there is any that it is likely to strengthen to four i've storm unlikely to become a category five but for is still hugely destructive. it could bring dangerous flooding.
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i'm protected windows, cars because of the high wind speed. the expectation of how many they could be without power. we're we are more than 2 million people who have been ordered to evacuate. even though lanes have been reversed you're looking at standstill traffic. the management says it has a hundred 50 shelters. we are getting reports. if they're moving eastward away. patients as we understand from two waterfront hospitals.
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that is near daytona beach. it is set to shut down and back in just two hours walt disney well close it. they are following suit. those in the path. although after georgia and beyond we have an early estimate of the potential for the damage. 15billion. if that sounds low to you you are not alone. the statistics on the storm surge suggests total potential damage could actually be 326 and a half billion dollars here is why. they are threatened and if you calculate destruction and most
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likely breaches 15 billion. and just hours before the impact the monster of the hurricane is expected to speemac daytona beach squarely in the job. he is just south of daytona. >> we moved because they will be shutting the bridges down as the wind hits 40 miles per hour and stronger. this is something that people are not seen because this is the threat they are your talking about. you mentioned the storm surge. take a look at that little hot behind me. that is a dock and is usually about 3 feet above the water if pete zooms and we will see it is already flooded. we spoke to some homeowners around here told us the whole area is can be flooded. at least it happened in 2004.
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you see that that hot is now already underwater in the storm is still as you pointed out 11 hours away. this area is very low line. when he says evacuate he's not only talking about the coast he's talking about these inlets in the marshy areas that had beautiful homes as we were driving in here water was already under the street. i remind you the storm hasn't even begun here. it is expected to start raining in two or three hours. will hit about 2:00 a.m. on friday morning. this will all be under water and when you talk about the image was 2004 when it was all said and done. they expect this is can be a bad one. looking at the tropical satellite right now and it's very frightening. a lot of red on it. the storm surge gets you every
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time. it is a huge issue right now. there you see it. that monster right now category for sustained winds of hundred 45 miles per hour but i'm hearing that we will see gusts of up to hundred 65 miles per hour. that's category five territory. as we mentioned the models show that it is daytona beach that's very much in the bull's-eye. she is on the phone. i'm not sure you can ever be ready for something like this. how are they preparing were looking at our life picture the water seems to be getting closer at the moment tell me what you are hearing and seeing. >> we always prepare and hope for the best to happen for days we had been monitoring this in our county and city governments have been very good about keeping us all
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posted. were being tested on this particular plan. this is a very big storm and hopefully everyone has taken the preparations. let's talk a bit about how you indulge in the procedure for getting business businesses both small and large to shutter their windows and doors to get out and make sure everyone evacuate. we are currently staffed. it's a site that monitors all of the activity. and respond. make sure that we are aware of what is happening. it is life with updates. with everything that's going on in this particular time. for us to prepare and take this very seriously what are
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the numbers that we are talking about and how soon can businesses both small and large to get back up and running and what do you guys do what is your role to help them do that the minute the storm passes wax. >> we will work with all the appropriate officials to make sure that they have the help there financially and with resources to get them back up and running. what is really important is for us to make sure that everyone allow the public officials to make sure that areas are safe before we try to get back into our businesses that's very important our hotel industry is very prepared for us. many of them have to evacuate. we can see that in the pictures. always a good barometer there.
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you can see its beginning. just less than 11 hours before the storm hits. good luck to you and all of the businesses in your region. we are approaching that witching hour when it becomes too late to make a getaway. even with miami international airport still open it's empty. airlines had ceased operations a lot of people are wishing that they could hop on a rocket ship. they can even that. cocoa beach and satellite beach have been evacuated all rockets and equipment have been cleared but still hunkering down there. from emergency preparedness center. george, thanks for being here with us.
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this hurricane could be a nightmare scenario for kennedy space center. what is your worst case scenario. >> i think the forecast we had been given is just about as bad as we would like to see. even when we have a ride out crew during the storm it becomes too dangerous. everything has been moved in to the emergency operations center m with the winter this high. if it robles a little bit that will mean i guess that one
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would be easier said than done. how do you prevent satellites from getting there. big storms. there'd we picked up like storms and sales and move. we had secured it most of those. we have a plan for this. what we're watching is flight hardware. it will be launching november 4. we have to secure that in a secure building can i ask before we let you go the
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$11 billion space port that will be exposed we are kind of all in this together. the emergency operations center has simply can be too dangerous to be at different facilities around the center even though we pursed for that. the storm is too dangerous for that. >> please be careful you guys just take care. we will certainly be launching those at some point. as we watch the track of the storm the closing bell is
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about 47 minutes away less then 11 than 11 hours before that monster is expected to speemac or scrape. 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. a combination of see products.. and customers. every on-time arrival is backed by thousands of od employees, ...who make sure the millions of products we ship arrive without damages. because od employees treat customer service...
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>> rick scott held his latest updates he is aggravated. here is why. >> i think we still are people that are not taking this seriously enough. we don't know the numbers. a hundred people already lost their lives in haiti. along this coast. rick scott he has been doing periodic updates here. clearly, he's upset. he feels people think they can write it out as many as 2.5 million residents. power companies are in the path of hurricane matthew let's see how they are performing a have ahead of the big event.
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see mac we over used the phrase, before the storm. it's very much the case and of course to follow it throughout the duration. they did just put out a bulletin essay and they do expect power to be knocked out that as an upgrade from yesterday. you can see the power companies. its coverage like fpl. we want to show you that. pointing out where the power outages are right now. more than 25,000 customers are without power.
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you definitely want to keep an eye and follow those power outages. they do manage this. this is the biggest storm in ten years. and the theme parks. in reaction the are closing the theme parks in that area. jobs report tomorrow. the markets not moving a whole lot. we are expecting a better jobs report. people are expecting about hundred 75,000 jobs. of course we will be watching them. i think you so much. the hurricane takes front and center we had two programming reminders. they are starting an hour earlier for you at 4:00 a.m.
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eastern. can have the very latest on hurricane matthew as it makes landfall and then maria will pick up coverage starting at 6:00 a.m. we will also be double teaming it by bringing that. one of just two jobs reports left before election day. it's ringing in about 39 minutes. the makers of the lifesaving epipen. this time it's your own taxpayer money even if you don't need the drug yourself. but these two veterans aren't waiting around to call out mylan on price gouging. the setting discovery they made simply by pulling apart and pricing out each piece of the epipen. they are joining us in an
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liz: breaking news. we want you to turn your attention to the screen. this is palm beach, florida, and the waves are encroaching right now. we've got some updated numbers here. this storm could hover and last more than 60, six, zero, hours over florida. nine million people up and down the eastern seaboard under hurricane warning. storm surge, when the waves move further inland, could be six to nine feet. we have a situation here where we have the national guard in four states now mobilizing. earlier it was about half the national guard in florida activated. four different states they have activated. flooding is anywhere from eight to 12 inches. when you have that kind of complete disarray, you bring in the national guard to prevent
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from everything from harm to people's lives and things like looting. we're watching all of this very, very closely. as we look at outer bands of the storm hitting palm beach, florida, you can see it is getting more and more traumatic and dramatic. speaking of storms, there is a storm that continues over the big pharma giant, not so big anymore, it lost a lot of its market share. the federal government accusing the mylan overcharging the medicaid state program a million dollars over five years over the epipen. the company lost millions in market cap since the scandal broke in. excessive drug price increases, you know the story, they jacked up the price of their life saving epipen by 550%. people want to know why. these two guys, silicon valley originals who spent their entire
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careers engineering and pricing out products piece by piece, could have told the u.s. government long ago it might be getting ripped off. late last month they decided to take it upon themselves to reverse engineer an epipen, meaning pick it apart. a pack of three epipens, two epipens, rather, retails more than $700. but roland and bob wallace came up with a startling estimate. $8.02 to make the epipen. roland and bob join us live in a fox business exclusive from mountainview, california. roland, i will start with you, what inspired you and bob to do this, pull apart the epipen to reverse engineer it? >> you might be interested knowing how this whole thing started. tracy is allergic to bees. so she carries one of these epipens with her. so she wrote this article for the paper and she used the word cost.
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so i jump on her. i say, look, there is no relation, the word you should have used was price. there is no relation between cost of a manufactured article and the price. all the products that are made in the world are based on the production cost. it has no relation whatever to the price of an object. that is how this whole thing started. liz: well, roland, to you, mylan's corporate tag line is, seeing is believing. clearly you guys didn't believe what you saw. so tell me, roland, how you went about reverse engineering the pen? how do you do that? >> well, first -- >> that was to me. here's the kit. tracy gave me the pen. bob had cut it open and i collected all of the parts. liz: okay. >> and then i've been doing this well over 30 years, where i weigh each part.
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i make certain assumptions about the material and material costs. how long cycle time in the injection molding machine that makes the part. then i come up with a cost. this part, for instance, costs $8.14. i can be very, very precise. so i did that with everyone of these parts. just took it all apart. added it all up and, including the chemicals, here is the business end of this thing. we came up with $8.02. this is on the high side. i want to stress that. i made very, very conservative estimates and assumptions. so in reality probably 50 cents less than what we came up but i wanted to be safe. liz: this is incredible. you have people outraged because they felt they were getting gouged. in 2007, when mylan bought the company that makes epipens.
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it cost 57 bucks for one. retail into cvs you pay about the 700. bob, you're a self-described cheapskate. you're an inventor. i look at this, what must have been going through your mind when you saw that the price had been hiked that much? >> well, first off i never seen the package. you i went over to the local cvs pharmacy, i would like to see this. so they bring this out. and the gal gives me this price, i think it was $723.99. i don't know why that is. but then i, my background is in engineering. and sometimes signs. so, so i she gave me a sample roland just showed you. i slipped thing open to see what, what all the components were. and i happened to know the
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plastic extruding company, so i bought it up to them. and i said, what do you think this costs to extrude all of these, actually use the word mold, to mold all the plastic parts. she said maybe 5 to $10. let me jump in here, roland. we have a hurricane, one storm to another. but roland, you worked at hewlett-packard. >> she is talking to me. liz: to roland. >> so roland, all of these things that you have done, this is your business. if you had the ceo, heather bresch, of mylan in front of you, keeping in mind to be f you guys don't take into account things like making sure the testing is done properly or you're in sanitized conditions. what would you say to her about the price of the epipen, roland? >> i would have to think about what i would say to her because i should be polite it is really
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hard to be polite when somebody is obviously ripping off the public. liz: listen, great to have you both of you. i hope you will watch along with us as this develops. we should tell you we did reach out to mylan since this began. they have not returned our calls. i would mention the stock is currently hitting a 52-week low right now for mylan, $36.92. that is a one week, but it's a one-year low right now. closing bell, we're 27 minutes away and we have the dow jones industrials down 18 points. it was the visit heard around the country n the wake of superstorm sandy, president obama and governor chris christie stood side by side four years ago. it kind of made a game-changer in the 2012 election. as hurricane matthew bears down on the state of florida. could the fallout and way candidates handled this storm, be this election's october
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surprise? our political panel weighs in next. the pursuit of healthier. it begins from the second we're born. because, healthier doesn't happen all by itself. it needs to be earned every day. using wellness to keep away illness. and believing a single life can be made better by millions of others. as a health services and innovation company optum powers modern healthcare by connecting every part of it. so while the world keeps searching for healthier we're here to make healthier happen. that's why this control enthusiast rents from national.
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reporter: i'm lori rothman on floor of new york stock exchange with today's fox business tech minute. walmart taking on world's largest retailer on track to double number of online warehouses dedicated to online sales by 10. that face is much faster than what analysts expected. walmart installed new technology to speed up product sorting and item checking.
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walmart is upping its stake in which is china's second biggest e-commerce site. walmart is down about 3.25. jd is down 2%. keep an eye on amazon shares. surprise, surprise, if will be the second record close in a row and sixth in the last eight sessions. the stock already hit another intraday record today. let's get you back to "countdown to the closing bell" with liz claman. when it comes to healthcare,
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seconds can mean the difference between life and death. for partners in health, time is life. we have 18,000 people around the world. the microsoft cloud helps our entire staff stay connected and work together in real time to help those that need it. the ability to collaborate changes how we work. what we do together changes how we live. liz: very important to note as we look out our window, things fine in new york but look down south to florida. i want to point this out, sustained winds, yes, might be 160 miles per hour in the center but, shooting out from the center, all the way beyond that, hundreds and hundreds of miles, you will get winds anywhere from 30 to 50 miles an hour.
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it could be very dangerous for places that think hey, we're in the clear. florida is squarely in the sight of hurricane matthew. just moments ago the trump campaign released this statement, saying quote, our thoughts and prayers go out to everyone in the path of hurricane matthew, namely in florida, georgia, and the carolinas. we encourage everyone to listen to the governors and local emergency officials to evacuations of at-risk coastal communities. these warnings are very, very serious. we know hurricanes and storms proven to be dangerous not just as storms but political tools. superstorm sandy is used as an example. the october surprise in 2012, could be thought of that moment when the 2012 election was decided as president obama worked with republican governor chris christie to bring the tri-state area back to normal as quickly as possible. here we are in 2016. hurricane matthew, might have the same potential, hold the same power. but as hillary tops another poll in the state, 47% to 40%.
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talking about florida, she is pulling ads that were supposed to air in florida on the weather channel, quote, until the storm passes because the optics don't look good. you know what? i will pull ads i had planned for weather channel. david mercer, democratic strategist and ned ryan, former speechwriter for george w. bush. david, she pulled the ads, starts to look like both candidates, trump is a florida resident part-time, both of these candidates have to be very careful the way they tread when discussing this hurricane? >> they do. all focus and all eyes and all needs to be directed to those in florida, georgia, carolinas, that might be facing some challenging times. so, you know, i think everybody has got to weigh in on this in that regard. and i hope that we all do. i think that we all will do that. liz: ned, i would imagine that people in florida really don't want to hear from either side
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when it comes to -- >> that's right. liz: oh, i feel your pain. louisiana just recently about a month 1/2 ago with the deadly floods, people decided, well, should i show up, should i not. all of the candidates ended up going, including jill stein, green party candidate. i don't know how that goes down with people on the ground dealing with what we're seeing on the screen which is heavy winds and damage and storm surges. they're trying to get their lives together and be safe. >> right. i will say this, obviously politics is very much a secondary thing at this point in the game. you know, yeah, you look back at sandy, october 2012, it did impact the elections. kind of put everything on hold for period of time. everybody rallied around the leader. that is what these things tend to do, you rally around the leader to help get back to normal. i will be curious to see what impact on elections beyond the fact it will put things on pause? will impact moving forward? what are responses going to be. i thought donald trump did excellent job of louisiana
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floods getting down there and being of help. we'll see a lot more what the impact will be next week. liz: the debate is coming up. david, it is a town hall format. questions come from diverse groups. they are non-filtered. how does hillary get the edge on that? >> the same way she scored a technical knockout in the last debate. that is, poise, connecting with the voters. looking in the camera. connecting again directly with them, staying focused and strength conveyed to the voters, directly opposite what donald trump did in the first debate. that is how she will do it. what worked last time should work this time. i think with the focus and preparation, that is what we'll come to see, at least from hillary clinton going into the next debate on sunday. liz: ned, something tells me you completely disagree and
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donald trump might do best at town hall debate. >> if donald trump takes a little bit after page from mike pence, you have to go in with a plan. you have to understand what you want to communicate in setting. don't be guilty trying to answer the question. trump in the last debate he did get beaten, three to one people watching thought hillary won. i thought hillary only got a 2-point bounce out of it. this is what donald trump has to do preparing for sunday night's town hall. come in with a plan. be prepared to divot and reflect. quick answers and go in what he wants to talk about. hey, i make sure we talk about the fbi and talk about the foundation and emails and servers is. he will give himself a chance to be much more successful in the debate. middle of september he was beating hillary by trouble digits in trustworthiness. fox poll showed her winning four or five points on issue. he has to push the hillary make it about hillary's trustworthiness. >> or stop lying. liz, if i might --
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liz: quickly. >> add with regard to that. donald trump is going into this debate, 30 former republican congressman just said he is un, he is can not win. he is manifestly unqualified to be president. he is losing votes going into the debate. a guy like that, it is like a batter going in, he has got a, he hasn't had a good streak at the plate and he goes for the fences. and that -- liz: gentlemen, i'm sorry, i know you could talk about this all day. but we have a cat-4 hurricane coming. >> just increases risk he whiffs again. liz: david mercer, ned ryan, we'll continue conversation. >> thanks, liz. liz: you're welcome. special coverage of sunday night's special debate, intel report at 6:00 p.m. eastern. "cavuto: coast to coast," we're here for you, sunday night right here only on fox business. we're watching that hurricane. stay tuned, we'll get you latest
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update coming up. ♪ push it real good... (announcer vo) or you can take a joyride. bye bye, errands, we sing out loud here. siriusxm. road happy.
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approaching medicare eligibility? you may think you can put off checking out your medicare options until you're sixty-five, but now is a good time to get the ball rolling. keep in mind, medicare only covers about eighty percent of part b medical costs. the rest is up to you. that's where aarp medicare supplement insurance plans insured by unitedhealthcare insurance company come in. like all standardized medicare supplement insurance plans, they could help pay some of what medicare doesn't, saving you in out-of-pocket medical costs. you've learned that taking informed steps along the way really makes a difference later. that's what it means to go long™. call now and request this free decision guide.
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it's full of information on medicare and the range of aarp medicare supplement plans to choose from based on your needs and budget. all plans like these let you choose any doctor or hospital that accepts medicare patients, and there are no network restrictions. unitedhealthcare insurance company has over thirty years experience and the commitment to roll along with you, keeping you on course. so call now and discover how an aarp medicare supplement plan could go long™ for you. these are the only medicare supplement insurance plans endorsed by aarp, an organization serving the needs of people 50 and over for generations. plus, nine out of ten plan members surveyed say they would recommend their plan to a friend. remember, medicare doesn't cover everything. the rest is up to you. call now, request your free decision guide and start gathering the information you need
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to help you keep rolling with confidence. go long™. ♪ liz: we knew airlines grounded in and out of floor. but now this, breaking news, greyhound bus service has been suspended around and in that region. greyhound just announced it is going to temporarily close all florida locations in just about an hour and ten minutes, 5:00 p.m. eastern. we want to keep you posted. i don't mean to interrupt every single second, the minute we get information we get it to you folks, we promise that. to this, fox business warned and they listened. google, disney, apple all reportedly out of the running for twitter, 24 hours after charlie gasparino told bidders on t drain at twitter's sports
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division, the sort of one shining light at twitter. twitter is tanking nearly 20% now, on this throwback thursday i wanted to remind charlie gasparino the day twitter ipod november 7th, 2013. see that crowded area on the floor of the new york stock exchange? fox business was actually prevented by security, that was nicole petallides, charlie gasparino, me, all of us, from getting anywhere near the twitter -- >> i wonder why? we all -- the stock. liz: here we are, fast forward. hell hath no fury. >> let's make headlines here. i do want to make a broader point. markmark beniof, only remaining bidder. facing pressure from investors, a investor resvelte, we reported
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it before anybody else, facing pressure from executive team not to bid on this thing until it fall as lot more. he is facing pressure from inside his management ranks and outside of the company from investors do it this. we should report yesterday beniof appeared at investor conference, telling he is not investing, he is not committed to a beale. when you talk to analysts, the odds are very low that sales force will bid for twitter at current stock price. it would be a 20 billion-dollars deal based on where it is trading. >> that, i don't get, because it is almost about to go below 14 billion in market cap. would his shareholders think they're overpaying? >> of course you want a little bit of a premium so it would have to be more than that. we have to point out shares today are tanking. be real clear what i said yesterday. i said, everybody, don't follow the lunatics at cnbc who tried
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to hype this story beyond what it was. we've been reporting for a year that twitter has been shopping itself talking to various people and people are backing oaf every time they take a look at the prospects of it. and they're worried about the price. i, as we reported, the chances of twitter getting sold at these levels are low. and we specifically talked about sales force facing a revolt if they go for this deal. but it goes to every other company. this is a company, if you look at twitter, we all use it, but it is we that use it. and it has a smaller, declining subscription base, subscriber base. its revenue is actually down. it's not profitable. it has some problems it has to address. this partnership with the nfl as we reported yesterday is somewhat in disarray. liz: they paid a lot for non-exclusive rights to scream one game a week.
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>> who cares about that? liz: a door-buster -- >> is it a door-buster? liz: i don't know. >> every analyst we spoke to says it cracks the door a little bit. my point, follow the trillions on twitter about this. follow the troll at cnbc about this but as retail investors be wary of the stock and talks of a bid. i think it will be sold at some point just so you know. i think benioff is the wildcard. he likes the company. here is the problem, he is entrepreneur and risk-taker. when you run a public company, guess what? your risk-taking abilities are curtailed by your investors. if he does this, someone else does this, it will be i believe at a lower level. hold on to your seats. good story. don't believe everything you hear on cnbc. they will -- i think, you know what they did at cnbc, i believe? they got their asses kicked on
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monsanto-bayer, the jerks over there, you know what they did, they went out on a limb be on this thing and tried to conjure a story. they got crushed. today they looked like -- liz: hurricane charley. >> my mother would call david faber a -- liz: charlie, thank you very much. we'll be right back. stay tuned. we'll get you latest update on the hurricane and more. i'm jamie foxx for verizon. in the nation's largest independent study by rootmetrics, again, verizon is the number one network. hi, i'm jamie foxx for sprint. and i'm jamie foxx for t-mobile. (both) and we're just as good. really? only verizon was ranked number one nationally in data, reliability, text and call and speed. yeah! and you're gonna fist bump to that? get out of my sight. don't get fooled by a cut rate network. verizon gives you tons of data without all the restrictions.
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liz: breaking news. as you look at this it is potentially catastrophic category 4 hurricane at this hour, heading for, it is daytona beach, jacksonville, hard to say. these things move but we do need to tell you right now, that this is a storm that we are watching closely but so is disney world. disney world is one hour away from closing in orlando. health care is the only s&p 500 sector in the red. we need to tell you that, for the entire year. 14 1/2 billion dollar man says he is not waiting when it comes
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to health care. he is with eaton vance. are you buying health care right now? >> absolutely. always opportunities in a market but very, very difficult to find good growth opportunity undervalued. in our focus growth opportunities fund we think health care certainly fights that bill. a name like celgene, for example, has the opportunity to double their earnings over three-to-five year period. yet trades at market multiple or below. hard to find that growth trading discount to the market. election is big overhang. once the election is over we think the stock should do quite well. liz: you're feeling confident how this world is looking for economy and markets? >> i think from a jobs perspective, jobs numbers come in at healthy clip month after month after month. we continue to get more of the same there. that means the market keeps chugging along. liz: chugging along. we're down 12 points for dow
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joan industrials. s&p lower, same for russell. so much news today. we want to thank lew penditosi of eaton vance. markets set to close ahead of tomorrow's market report and 2:00 a.m. landfall of matthew. david and melissa pick it up for "after the bell". [closing bell yanks. melissa: i'm melissa francis. david: i'm david asman. we have you big market news. hurricane matthew a massive category 4 storm barreling down on florida. this is the strongest storm to hit the u.s. in over a decade. we're hours away from impact. already the wind is whipping up and the waves are crashing down on the eastern coast. residents in a mad dash to stock up on necessities, leaving shelves bare.


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