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tv   The Claman Countdown  FOX Business  April 14, 2022 3:00pm-4:00pm EDT

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momentum in this market is all gone. liz: i know. what happened? charles: i don't know. liz: the dow just turned negative, down 31 points. everything in the red except for the transports. elon musk going full gauntlet mode. during a live ted audiocassette interview in vancouver, he said some pretty dramatic things. the tesla ceo opened a window into his reasoning behind his now-hostile takeover bid for twitter. already the largest shareholder of the social media giant, early this morning musk announced he wants it all and has made a $43 billion bid for the entire company. we've got the analyst who this morning predicted the board will accept the plan, but with news breaking this afternoon that twitter may defensively put a poison pill into place to block musk, is that analyst about to reverse that call? you a may be surprised at what he has to say. musk making clear that as the richest man in the world, he
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could buy it, he could why -- buy a $43 billion company. how did he become so successful, and do you want to learn to be a entrepreneur like musk? genius group has a class for you. its stock, which just went public on tuesday, shot up 400%. today its ceo is here to tell us how his products range from everything calledded genius-u as a million dollar master plan would mean big profits for you and perhaps if its shareholders. plus, charge interpoises uplistinging to the nasdaq today. the ceo is joining us in studio in a fox business exclusive on his company's wig day -- big day and how he plans not just to deal with the infrastructure of everything v charging systems, but charging ig in -- anything that you have in your world. as we said, the dow just turned negative. mixed earnings reports, economic data not giving the bulls a clear signal right now. but take a look at natural gas, it is now above $7 a british
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thermal unit, yes, btus, hitting a new 13-year high, up 57% since the ukraine war. in the meantime, as we begin -- [laughter] this hour and a fox market alert, yeah, you've got the markets down, you've to got natural gas spiking, but everybody in the world of finance is focusing on the little bluebird which is sitting in the market driver's seat as twitter's tock was flying high morning, but at this hour it's pulled over and and is now negative, down about 2%. the twitter board scrambling to hold a meeting after the close to discuss what to do with elon musk's $43.32 billion all-cash bid. the tesla ceo was asked during this ted talk in vancouver why he made the offer and how he plan froms to fund it. but listen to how he put it, because people have questioned whether he can even pull this off. if. >> i do think this will be somewhat painful, and i'm not sure that i will actually be able to acquire it.
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i could technically afford it -- [laughter] >> i know that. >> but it's, what i'm saying is this is, this is not a way to sort of make money, you know? i think this is, it's just that i think this is, this could -- my strong intuitive sense is that having a public platform that is maximally trusted and broadly inclusive is extremely important to the future of civilization. liz: so he said he made the offer to twitter to uphold free -- he made it to the markets, not to twitter, let's be clear. it's a hostile bid, but he talked a lot about democracy, and he did say he wasn't sure if it could actually happen. but tesla investors, look at this right now, all you need to do is look at the share price action, and you can see the market does not believe, at
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least for now, that this thing is going to go through. we have tesla down. they do not like the fact that musk might, of course, be distracted from tesla if twitter became his full focus. may have to sell shares to fund purchase of this. all this as the 10-year yield is backing up at 2.83, edging closer to its highest close since december of 2018. let's put this all together and bring in our floor show experts, research analyst andrew boone is the man who morning said board will take this offer. t3 trading's scott ledler -- redler join us. two peeks ago he said -- weeks ago he said buy options in tesla. mr. boone, has anything changed in the last six hours since you put out your note where, in essence, you said the board is going to accept this, because now there are all kinds of chat or in the markets that there will be a poison pill, and look at the price action of twitter,
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it is down. it's lost 11% from its premarket gains. >> yeah. a lot has changed. elon has made public statements which i think you guys just played in terms of there's the potential that he may not be able to championship mate -- consummate the deal, but that certainly brings additional risk in terms of the ability to get that transaction through. and as you mentioned, there's now reporting for a poison pill if twitter's board. so if you put it all together, the likelihood of the deal being transacted appears to be worse than it was before the open. liz: okay. but will let me just push here a little bit because if you look at what's happened in the last two weeks, first he takes what he calls a passive stake. that turns to, hey, you want a board seat here? he's about to take it, he doesn't. then he announces it's an act active stake, and now he's making a hostile takeover bid.
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if i am a ceo, entertaining as they have to, to, you know, honor their fiduciary duty to shareholders, entertain all types of bids, this looks e rat -- erratic and does not lend toits to a well thought out plan by elon musk. if i am management, what am i doing? >> yeah, i mean, look, there are lots of stakeholders in terms of if you are the ceo, you know? new in terms of the seat. what's interesting with twitter overall, right, is that it's a common if share class, right? it's not like jack has super voting shares. this is going to be put out to the market, and we'll see kind of the market reaction. if i think through the fiduciary responsibility of the board, it ultimately is a cash offer. so, look, from jmp's seat, my seat here, we had a perform rating when twitter was in the 30s.
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understood that saudi arabia's come out and said, hey, look, this undervalues the company many terms of the intripsic value. from our perspective, this is a premium versus where other digital ad platforms are trading. it looks like a very decent offer compared to where the stock was prior to news of elon getting involved here. liz: that's exactly where we bring in scott redler because the deal, and we do have it on the screen, $54.20, we stand at 45 even right now, sure, it looks good when you compare it to where we are at the moment. however, the high of the past year which was hit in july, scott, was $73.34. if i'm a shareholder, i'm saying, wait a minute, i know that the company was able to get to $73. why would i accept 50 something? >> i agree. i think the offer was too low, and i don't even know if the offer was real. what i do know is elon, just like myself and a lot of people on wall street, know that twitter has been an undervalued asset. it's been a poorly managed
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asset. you've had a dual ceo. we all know the potential that twitter could do as a platform for a voice as well as just a platform for the betterment of society. i don't believe twitter should be an open forum and everyone could just say things freely if you're a verified member of the media. i can talk, liz, you could talk, but if you're fox business or cnbc, you know, you need to make sure it's not fake news, so there ought to be some governance. i don't think twitter should be a private company. i think that that elon should be on the board, it would have been better if he'd bought 4% so he could -- 14% so he could have shaken the tree. i think they're lazy, i think it can be upday-to-day, they can get more users, and that's what should d -- updated. and now it's turning into a little bit of a mishmash where the market doesn't believe it, the board doesn't know what to do, he might come in higher even though he said best and final which is never really best and
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final. it's created a precarious situation where it's going to be interesting to see how it all plays old out. long the stock. i'm long the options now just in case a company comes in and tries to make a better offer that might be a little to scale it better because i personally don't think that elon -- as great as he is, i love him -- liz: of course. >> -- he doesn't have the time, the wherewithal, the bandwidth to make twitter a better place for business and for society, but there are much better people out there this that can. liz: i just want to let everybody know elon musk has just tweeted on this subject. he says, quote: will endeavor to keep as many shareholders in privatized twitter as allowed by the law. andrew, we're getting ahead of our skis here, at least he is maybe if he's talking about this in this fashion because i have to ask what are the options to fund this transaction? as i understand it, he could do a combination of debt financing, he could sell tesla shares, he
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could take out a huge debt, a huge loan, rather. so where do you foresee his sort of next steps on path. >> yeah, elon clearly has the assets here. literally in that tape that you played, i think the crowd laughed when they talked about elon not having enough money. liz: indeed. >> to that end, i believe that he could collateralize the deal in some manner, right? if i'm not an expert in terms of ultra-high net worth, richest man in the world funneling. but nonetheless -- funding. but i have to believe there's a way out there for him to collateralize some form of debt that could be used to purchase shares. in terms of what you just read, i'm honestly scratching my head in terms of what that actually means in terms of how you can keep individual shareholders and what that would look like. that's -- i legitimately don't know. liz: i know.
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it's a lot of head-scratch ising. really quick, scott. >> remember, funding secured at 420 with tesla, people were scramming their head -- scratch ising their head. meanwhile, post-split it's 1500 or 2000 plus. he's trying to unlock the potential, but this isn't the right way to do it. liz: he did address that tweet, funding secure, back when he was talking about taking tesla private. he said it was not a joke, it was true. he had secured funding, and he proceeded to call the sec, quote, bastards for what he said was a force add higgs or settlement -- admission or settlement with the sec about that tweet, and he was not happy about it. so much developing at this moment. we're keeping an eye on twitter shares. they are still at the moment looking lower just by about 2%. andrew boone, scott redler, thank you so much. and in just moments, charlie gasparino's coming down. he's got news on whether the securities and exchange commission could again be
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standing in musk's way, this time to buy twitter. we've got this breaking news, president joe biden giving his vision for economic renewal in the tar heel state, speaking at north carolina a and t university to a room full of students. the president highlighted efforts to rebuild supply chains, lower inflation and improve u.s. competition. the speech comes as the biden administration ramps up pressure on congress to pass his bipartisan innovation act and bipartisan infrastructure law. let's get to edward lawrence live from the white house, and speaking of bringing down inflation, it's an interesting discussion with press secretary jen psaki yesterday that got quite a bit of attention. >> reporter: yeah, it was. i asked did the president take any responsibility for the inflation we're seeing now given his policies going back and forth, and they said -- they listed the whole range of things that we've been hearing as the reason that we're seeing inflation. and if that's one of the reasons, liz, the president's speaking right now in
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greensboro, north carolina. he's trying to talk about the supply chain issue, and that's one of the major issues as the administration's pointing to for the reason inflation is up. now, he's saying that he wants to build made many america, he wants to do it from the beginning. so earlier the president took a tour of a technical college where they're training those folks in order to handle that first step, the beginning, the for foundation of the supply chain. and he highlighted the programs in place to train those people to make that critical stuff that we need. listen, this is from earlier. >> we have the capacity to do whatever anybody else does. it's just being able to invest in it and have the opportunity to be exposed to it. and that's what impresses me so much about what you all are doing. >> reporter: oh, a little bit of audio issues related to that. the president was talking about the importance in highlighting that program and how they are training folks to do the things that we needed to do for the future of the supply chain. now, the president talked about the importance of the bipartisan infrastructure bill.
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he's making an effort to get on the road and tout more successes of his administration, that infrastructure bill is one of them. it comes down between republicans and democrats agreeing to move forward. now, in that bill he touts how roads and bridges will have investments but also ports and waterways as those railways -- as well as railways to uses that for a long-term fix in order for the supply chain. the president also, as you mentioned, talking about that innovation act. and, in fact, the innovation act a, a version of it was passed by the house, a version passed by the senate. right now they're if in committee trying to get those two together, they are very different. but the president wants to use that funding to informs in semiconductors -- invest of in semiconductors and other technologies, and his goal is to try to combat the chinese investment, what they've been doing this many that sector. liz? liz: edward lawrence, thank you very much. who's the real genius, the ceo of the tech company that skyrocketed 400 plus percent on
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its ipo two days ago is here to tell us how he's planning to disrupt the education marketplace and, get this, it involves teaching end pants to 100-year-old -- can infants to 100-year-old seniors how to think, act and become entrepreneurs. the ceo joins us next. with the closing bell ringing in 45 minutes, "the clayman countdown" returns in a moment -- claman countdown. and, yes, twitter continues to lose just under 2%. ♪ ♪ you can't buy love. happiness. or confidence. but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you imagine. ♪ ♪ your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates
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♪ ♪ liz: well, look at this chart. you don't see something like this very often. the singapore-based education technology company genius group went public on tuesday, ipo'd at $6 per share, promptly rocketed higher by as much as 500% before finally closing at $30.50, a gain of more than 300%. now, it has been a volatile couple of days, specifically today. we do have it this hour shares dropping nearly 61%. the stock has been halted at least four times today alone for volatility. what's beyond all the excitement here? this is not your regular education technology company.
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genius' mission is to remodel the current educational system globally by laser focusing on teaching people ages 0-100 the principles of entrepreneurship through its genius-u, wealth dynamics and million dollar master plan offerings, that's what they're called. joining me now, the founder and ceo, roger hamilton. wait a minute, i had you as roger james hamilton. you're okay with roger, right? >> i'm fine with anything, which is good. [laughter] liz: are you fine with what's happened in the last 36 hours? what's it been like for you? >> it's been pretty crazy. what's happening in the marketplace, you know, to be honest, we're really so focused as a business and what happens post-ipo, so we were thankful that in today's market especially because it's been quite a quiet time for ipos that we could actually have it, and we're very excited about the plans going forward now. liz: you've got about 2.7 million students in about 200
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countries. it's a small cap company at least at the moment. you've got to explain to our viewers what it is that makes you different from other education technology company. >> sure. there's been some, you know, big names out there recently, they have got incredible platforms that have grown and, i think, paved the way for companies to be able to come on to the stock market as well. what makes us different is, first of all, we are creating our own curriculum. so in the case of quite a few of the other platforms, they invite others to bring their programs on the platform. we're trading our own curriculum which we think is very important because we're seeing, like you just said with the last guest with the president, you know, saying how much we have to have the right type of education for the coming technologies that are happening, and we also have got an a.i. genie that insures that every single person has a personalized pathway which is
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also really important so that everyone is able to follow their passions, their purpose, hair talents and actually design -- their talents and actually design the education on what is right for them. liz: this is a $10 trillion market with education technology by 2030, at least according to some experts and researchers in this field. you talk about teaching people 0-100 -- [laughter] entrepreneurship. can you teach that? and, look, zero means a day old, an infant. how do you start teaching someone as young as a baby how to have an entrepreneurial spirit? >> it's actually quite interesting, the saying and where it comes from is the saying that everyone is born a genius, but we then live our lives being de-geniused as time goes on. and this is definitely something which we have seen with the current education system. there are many parents and students dissatisfied with it. with the act acquisitions of the core companies with the ipo, one of them, actually, in new zealand is an early learning
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company from 0-5 years old that actually shows kids how they can learn through discovery. then we have primary school, high school and even university acquisition in california which enables us to now provide the entire 0-100 lifelong learning pathway which is that $10 trillion pie that you mentioned. liz: we do have to teach entrepreneurship and that curiosity. you see the big entrepreneurs on this show, that they have been able -- what they have been able to do to succeed. good to see you, roger. even with today's 58% loss, the stock is still up triple digit percentages since its ipo. all right. at this very moment inflation is hitting 40-year highs, and just about every sector is hiking its prices. but wait until you hear what peloton is now announcing as it breaks away from its business model, it's cutting the price of its most iconic piece of equipment. is that finally helping stock? we're going to show you. with the closing bell ringing in
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37 minutes, dow is back up in the green just by 20 points. nasdaq down 239, s&p lower by 36. we are coming right back. ♪ ♪ you'll get closer to iconic landmarks, to local life and legendary treasures as you sail onboard our patented, award-winning viking longships. you'll enjoy many extras, including wi-fi, cultural enrichment from ship to shore and engaging excursions. viking - voted number one river cruise line by condé nast readers. learn more at meet jessica moore. jessica was born to care.
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liz: another tweet has just dropped from elon musk, this times he is tweeting directly at the saudi prince and twitter shareholder, right, demanding to know, quote: how much of the micro-blogging service the prince if really owns. tweeting, interesting. just two questions, if i may. how much of twitter does the kingdom own directly and indirectly? what are the kingdom's views on journalistic freedom of speech? well, this is all coming about because the prince is a shareholder of twitter. he claims he's one of the bigger ones, and he this morning in the wake of elon musk's $40 plus billion hostile bid for the micro-blogging site tweeted that he rejects the offer saying: i
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don't believe that the proposed offer comes close to the intrinsic value of twitter given its growth prospects. being one of the largest and long-term shareholders of twitter, kingdom khs, i reject this offer -- khc, i reject this offer. we are trying to find out exactly how much he owns of twitter, but at the moment we do know that elon musk owns about 9.2% and has made a bid for the whole thing. khs -- khc, regulatory filings show the stake in twitter dropped below 5% in 2016, but it's unclear how much is truly owned today. musk tweeting at the share holler just as we look at about 30 minutes after the hour we've got this fox business alert. big bank earnings report revealing how some have been able to dodge the negative effects of the russian-ukrainian war. goldman sachs beat on first quarter results after it said it
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was able to navigate volatility related to the war. fixed income produced 4.72 billion in revenue as well. morgan stanley also bested analyst estimates on both top and bottom lines, benefited from merriers and acquisition -- mergers and acquisition activity. and citigroup also managed to beat on better than expected trading results tied to ukraine war volatility. citi is up 1.7%, morgan is up about just under 1%, goldman down a fraction. here's the issue, though, with the bank earnings, wells fargo. wells par go has little direct rubbing russian exposure, but still posted a 21% drop in first quarter profit due to a slowdown in its mortgage banking arm. the decline was cushioned by a $1 billion release from its credit reserves. the stock is biggest percentage lose arer on the s&p 500 banks index. it's down 4%. just as prices of steel and
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aluminum heavy workout equipment rise, peloton says it's slashing prices of its signature connected bikes and treadmills. the fitness equipment company said it will, however, hike monthly subscriptions from $39 to $44 in the u.s. by the way, it's been at $39 for eight years. peloton says, you know, we've bolted on, we've added so much to the offerings, plus we want to grow market share. shares not getting helped at all, in fact, they're spinning downhill by 5% at this moment. intel shares, let's take a look at those, they've been red pretty much if all day, down 2.6% even a after declaring a quarterly cash dividend of 36 cents per share. there is also a report the semiconductor giant has picked goldman and morgan stanley to lead preparations for the ip work of of its self-driving unit, mobileye. a spark of lightning in the ev market as one company lists
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on the nasdaq. the charge enterprises ceo is here on the big debut day. it's a fox business exclusive. closing bell, 29 minutes away at the moment. we've got the dow down 30 points, really kind of jumping back and forth over the flat line here. s&p lower by 41, the nasdaq down 261. ♪ ♪ throughout history i've observed markets shaped by the intentional and unforeseeable. for investors who can navigate this landscape, leveraging gold, a strategic and sustainable asset... the path is gilded with the potential for rich returns. at adp, we use data-driven insights to design hr solutions to provide flexible pay options and greater workforce visibility today,
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liz: >> the f-150 lightning, you've seen it before, but the news today, we can confirm that april 26th is the big launch. day for the f-150 lightning rolling off the line in michigan. liz: ooh, love that candy apple red are, all-electric lightning at the new york i auto show. it was a huge draw, right? and ceo jim farley of ford tweeting today that the f-150 lightning will strike april 26th and begin its deliveries to a wait list of 200,000 people.
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as we look at shares of ford, it's more important to see not that it's up a third of a percent, but that it's up about 26% year to date, i believe. year-over-year with, rather. enter charge enterprises. this is an ev charging and 5g wireless company that helps electrify the infrastructure of the future. charge uplisted today on the nasdaq under the ticker symbol crge. the stock is moving higher by two-thirds of a percent. down, but, you know, it's the fox business effect. we're talking about it, people are focusing on the business here. joining me now, charge enterprises founder and chairman and ceo andrew fox. blood pressure -- why did you decide to uplist on the nasdaq? let me just get that out of the way. >> well, i mean, i think it certainly increases huge access to liquidity. but if you look at the ev market, a lot of the pure play ev-only companies don't have a tremendous amount of revenue, so
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they went the route of spacs -- liz: right. you did do -- did not do that. >> correct. we built a huge revenue business, and then the natural step in terms of sequence was going are from where we started at pink sheets, and i considered a blue collar uplist. [laughter] we were really able to build tremendous value for our stakeholders in the process. liz: we had dick grasso on the show yesterday saying the spac, spac attacks fantasy was a lot of fluff and not, you know, more sizzling and not stuff steak. that's why i wanted to bring that up. let's talk about your company and how it's the different from all of the charging companies out there right now. >> yeah. so think of us as an enabler. so charge point and all the big infrastructure equipment providers and software providers actually need someone to design, engineer, install and maintain all this charging infrastructure that's coming out.
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and so the way that we looked at the market was an electrical service contractor, a guy who changes a cell phone tower is a very similar profile to a worker who's actually going to be working in the future on ev. so we made five acquisitions over the last 14 months and focused really on our revenue. so when you look at the spac market, it's a little different. so our kind of point of difference was not only creating great jobs, but by doing the mechanism we did, we didn't vaporize a lot of investor cash in the process. liz: charging type of companies, you mentioned charge point, you are not just in the business of helping build out charging for evs. you go into 5g as well. i do want to just point out the nasdaq is hitting session lows right now, but we always like to keep our viewers updated on everything. you know, talk to me about exactly how you're doing that and how it relates going from from evs, electric vehicles, to something like 5g.
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>> well, so think about it like this: today we're at 5g, but 35 years ago we were at 1g. it's the exact same correlation in the ev space. over the next 30 plus years, we're going to continue to add second, third, fourth and fifth generation of charging infrastructure. so i go back to this one point which is very important. we looked at the prism differently as we were building the business. i did not want to raise a lot of equity to build. and so by taking 5g that's a very mature industry and acquiring companies and skill teams in that sector and repositioning like we've done for the automotive sector for the ev,ive gets -- gives us an interesting segway. liz: you keep talking about revenue. tell me what your predicted revenue is and what can investors expect as far as growth is concerned for this brand new uplisting? >> you know, in 2020 after our first year in operation, we did $84 million in revenue, last year we did 471 million --
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liz: okay then. [laughter] >> i think that there are disruptions in the global supply chain that will keep certain things from moving as fast as everybody would like, but i think that we'll be a huge beneficiary over the next 25-30 years of all this infrastructure that's coming out. liz: a local kid from queens made good. congratulations. this is a huge deal to have a public listing at the nasdaq or any exchange here in new york, so i know it's a big day for you. >> huge day, and i'm humbled by my team that helped me do it. we've assembled an unbelievable team, and i think the key to success is not only market timing, but our team. liz: charge enterprises is the company. andrew the fox founded it soup to nuts, he's now ceo. >> thank you. liz: elon musking jabbing the securities and exchange commission just a few hours ago. wait until you hear what he said. it's the same sec that now has a joint investigation with the department of justice opening on elon musk right now.
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did musk just stoke the fire against himself. if charlie breaks it next. closing bell, folks, we're about 19 minutes away, and things are just starting to degrade a bit more. dow is down 50 points. when we started the hour, low of the session was a loss of 34 points, and as i mentioned, pretty close to session lows on the nasdaq. we're coming right back. ♪ ♪ you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit you know liberty mutual customizes your car insurance, so you only pay for what you need? like how i customized this scarf? check out this backpack i made for marco. only pay for what you need. ♪liberty. liberty. liberty. liberty.♪
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♪ liz:? >> funding was actually secured. i want to be clear about that. why do i have no respect for the sec in that situation, and i don't mean to blame everyone, but certainly the san francisco office. the sec knew that that the funding was secured, but they pursued the, an active public
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investigation nonetheless. i was forced to concede to the sec unlawfully, those bastards. liz: elon musk at the ted conference in vancouver this afternoon taking a swing at the securities and exchange commission for what he said were threats and a near forced bankruptcy if he didn't settle with them on his tweet from way back when where he tweeted: funding secured to take tesla private. he is now insisting he actually was serious and had secure funding to take the company private. also musk just tweeting this in response to another tweet, stay with me here. here it is, quote: absolutely, it would be utterly indefensible not to put this offer to a shareholder vote. they own the company, not the board of directors. here to untangle this breaking -- [audio difficulty] >> we should point out that, you know, in making that statement he probably violated the terms of his, his agreement with the
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sec. remember -- liz: the one about -- >> yes, how he was forced into it and is all that. usually when you, when these charges get filed, they get settled at the same time. as part of the settlement, you neither confirm, nor deny the charges. the s is ec -- sec basically says you need to keep your mouth shut. he's in technical violence. whether they go after him, i can't tell you. i think the tesla's going to deny this, it's going to reject his bid -- liz: twitter. >> excuse me, twitter. tesla wants them to reject it because they think this guy's spread too thin just if you rook at the way tesla's been trading lately. the twitter board's going to reject it. basically, they'll say he's bidding too low. it's under the 52-week high which, i think, was $73 -- liz: yep. let's show that, by the way. >> and i think what they're also going to say is the stuff we've been reporting recently, he's coming under -- there's reinforced scrutiny on him and
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his past statements not just with him on twitter, whether he filed the right paperwork, whether he was withholding the truth about his intentions of taking it over, but also disclose you are -- disclosures on his various cars, and there's ongoing investigations. there's now a joint sec-doj investigation into all of that. now, whether all of that produces anything, i can't tell you. you know, these are hard cases to bring or else they would have brought them already, but the regulatory it heat's going to be on him, and i think that gives tesla a -- twitter, a lot of t there, a little wiggle room. now, does that mean that's the end of it? he could come back and up the ante. he could go to 73. it's not going to bankrupt him. he's got $260 billion of capital which is his holdings of tesla's stock and how much he's worth. so he can keep going for a while, and then once he gets up there to that $73, then it
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becomes interesting. i mean, how much are they going to -- when it becomes a fiduciary responsibility -- [audio difficulty] to hit the bid when it was at its 53-week high. he can play with them on this. now, in the meantime, lots of banks -- seek a white knight, you know, because they know that he may just come back. if they do seek a white knight, it's -- [audio difficulty] very anti-merger, anti-tech allowing apple. [audio difficulty] >> he thinks buffett if could buy it. now, it would be such an un-buffett-like investment, right? it's not -- you know, he just looks for deep value, you know?
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it's just not -- liz: he looks for cash flow. >> do they have good cash flow, twitter? not really. they've been profitable -- liz: when you look at the market cap, right now it's at $34 billion. guess where it was in 2013 when it went public? around $34 billion. >> yeah, it's almost where it went public. it did reach a 52-week high this year -- liz: july, i think -- >> yeah. $73. there's a lot here. it is a transformational thing. i mean, anybody that uses twitter knows it's a public marketplace of ideas. liz: what about the poison pill some. >> i don't know if they need it right now. like, that's something that marty lipton created back in the late 1980s to stop leveraged buyouts. it's a way of companies own shareholders and management, essentially, buying some of the stock and putting sort of restrictions on it. it sounds like an un-twitter thing to do. i think they're going to reject
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this one and see how it plays out. does he really -- sell the stock? liz: what does it say to you that the stock is now down after having been up 11% premarketsome nobody believes this is actually going to happen. >> they're going to reject it probably, and, you know, it took me about 15 seconds to sniff that out this morning. and after i put it on twitter -- [laughter] of all places, the stock started to drop again because it makes sense. i mean, they have an out. he's under investigation by a gazillion places. do we really want to sell it to him? can we get out of it? he's not bidding 73, he's bidding well below. the prince said it. but, you know, one thing about musk is he's a smart dude and, you know, he's a survivor. and you know what he came back and said about the prince in okay, i'd like to know how much shares you own and, by the way, what's the kingdom's -- meaning saudi arabia's -- record on journalistic, on journalism and free speech? i'm paraphrasing a little bit. what a great comeback.
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and so true. liz: yeah. very true. charlie, thank you very much. keep breaking those stories. today's countdown closer playing mark doctor, and his diagnosis is on dave -- dividend stocks. closing bell 8 minutes away. we do have the dow down another little bit, down 63 points at the moment. we've got a lot of names urn pressure. we're going -- under pressure. we're going to be right back. ♪ ♪ or confidence. but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you imagine. every year we try ♪ ♪ to exercise more, to be more social, to just relax. and eating healthy
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every single meal? . .
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♪. liz: we are just getting this breaking news in regarding that naval ship that russia had evacuated yesterday after it was hit by a missile although russia had denied it was hit by a missile. now russia's defense minister saying it is missile cruise ship has indeed sunk. that is according to ria, which of course is russian television here but in essence the soviet-era missile cruiser which
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contained, you know, the fire but was badly, badly damaged, they don't acknowledge what happened to the 500 sailors aboard although there is some indication many or all had been evacuated. closing bell, we're 3 1/2 minutes away. the markets are hovering around session lows. as we see it at the moment the dow is down 86 points. s&p down 51. the nasdaq lower by 2890. when the markets are this volatile and it's superimposed over high inflation dividend yielding stocks can really be handy things to reach for as they can stretch out your returns or pay you as you wait. bring in cornerstone cliff hodge, he made it his business to name a couple of dividend players are the exact names that should be in your portfolio if you want something like that. let's get to it. tell me what you think here and why dividend stocks at this moment? >> good afternoon.
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it is really a tough environment. inflation is high. expectations are even higher for inflation. you're seeing interest rates rise, meaning bonds are down, equities are down. so it is really been a tough environment. but in times like these when there is uncertainty, there is a lot of pressure on more growth think areas in the markets, dividend-paying stocks that have characteristics of defense and growth can actually work very well. liz: cliff, united health, cnp, you like sba c. let's look at the dividend yields and is there something else you like about them in addition to unitedhealth group with a 1.9% dividend? >> yeah. so we want both characteristics of growth, defense and a little bit of a dividend yield. names that are paying around 2%,
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unh is a great example. just reported a stellar quarter. the nation's largest private health insurance provider. it will do well regardless what happens with interest rates, regardless what happens with russia. in the reit space we like sba c. cci is another one that pay as higher yield, looking for something north of 3%. we really like the towers as long term secular themes. utilities, classic defensive sector. cnp is one name in the space that works well and provides defense as markets move later in the cycle. liz: well, cliff, we're looking at ajit terry market, certainly because we're looking at such high inflation as we already mentioned. the federal reserve is raising rates. they made that extraordinarily clear. do you still like equities overall here? >> we still like he equities hee especially around 4400 for the s&p as a move higher. sustaining new all-time highs could be a bit of a challenge
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with an aggressive fed. we do have however think inflation likely peaked. we saw the peak numbe for cpi earlier this week. that should give fed pressure to allow earnings to rise. [closing bell rings] liz: thank you, cliff hodge. twitter as we hear this bell still in the red down 1.6%. the same with the rest of the market. that will do it for us. "kudlow" is next. ♪. david: hello, everyone, welcome to "kudlow." i'm david asman in for larry kudlow. well possible twitter takeover. elon musk is hoping to buy the social media company for $54.20 a share. the deal valued more than $43 billion. the tesla ceo, the richest man in the world, already holds a 9% stake in the company and says he wants to quote, transform the platform by taking it private. twitter says it's reviewing what musk calls his best and final


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