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tv   The Claman Countdown  FOX Business  May 3, 2024 3:00pm-4:00pm EDT

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charles: those fortunate enough to do well will face hurdles and we know the government data hasn't been updated since 2021 and how many have become successful businesses and we tip our hats to small businesses and americans admire them the most and when they're as young and talented as tie la, it gives us all hope and people believe they can get to us on college campuses and make the american dream by seizing the american dream. we need a lot more young adults and teenagers like tyla. with that in mind, last hour of trading on a really good trading day. liz claman.
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liz: thank you very much. really good if you're a bull. i mean, charles, who disappointments triggering a bull rave ganging majors out of negative territory. dow, s&p and nasdaq all charging higher, 1% or more. when we say rave, the two-day gains on the dough topping and call it for than 750 points here and right now we've got a 454 point gain and yesterday 322 bump 65 point-blank layupses at the moment. you want to see a real party, look at nasdaq. after yesterday's 235 point pop right now. it is soaring another 333 points or more than 2%.
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what has the bulls dancing and april jobs report out this morning. it weed, non-foreign payrolls grew by 175,000 last month and slowest pace since october of last year. yields began falling pretty dramatically on that softer than expected jobs report, which often helps stocks two-year yield down about 5.6 basis points at the moment and we've got 10-year yield down 7.5 basis points.
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sooner rather than later and, yes, the fed was the second disappointment wednesday chair jay powell would not give an inch on any rate cut or timing of t but he also dismissed a rate hike. that comes courtesy of apple's quarterly earnings report and was very thin on ai details and shares popping 7% thanks to a less than expected drop in iphone revenue, top and bottom line beat and the announcement of a $110 billion share buy back. app is the second best number behind amgen and it's the second best number and slide to the right to gol gol goldman sachs n
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down, goldman is looking good up 1.13% and earlier kissed $442 a share and that is an all time high. with so much to tackle, you're covered and here to interpret is brian white, internet and software head and deutsche bank chief global strategist. 77% of the companies beat estimates on revenue and 61% beat revenue estimated and how does that look? >> the most important point i would make is looking at things in terms of size of the beat, even in terms of breath, what
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you're actually seeing is that i a pickup in beats. that's very unusual and in terms of size of beat, we're talking about a beat of s&p over 9% and coming out for a big cyclical downturn and i would argue the bottom up consensus still has to catch up. thinking about and looking at things in terms of growth, we're on track this quarter for 12% earnings growth year over year and that's a third increase in a row so growth is accelerating and looking within the s&p 500, look at it as three groups. there's of course megacap growth and tech where everybody the
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bottom up consensus, us included was looking for a slow down. liz: so many helped in growth and do you continue to advise people to put money in there should tech have a permanent room in the house. >> the growth held study to astonishing number in the prior quarter of 40%. this quarter at 38%. that's not really a slowing. but what's different is everybody else stepped up in a pretty big way. so i would divide the rest into two parts and there's everybody and energy and materials, which earnings are down 20, 25% and growth is healthy 8% and that's
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actually where we are allocating the cyclical parts there. liz: let's stay on this vein of megacap growth tech. is it apple? no substantive mention of anything ai and what is driving the stock? simply, okay, stock buy back and some call that financial engineering. the data points were horrible and the chip suppliers supporting apple were days behind and expectations were very, very low and coming out with a beat in the quarter and outlook that is in line to a little better than the street shocked wall street last night.
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liz: we saw iphone sales drop 10% and expectation for for a fall of 10.4% and year over year and tim cook said tough comps. okay, the sin criminal in me is -- cynical side of me is looking for the safe side and is it that they went with a big share buy back to cover over, put grass over what was kind of a dirty picture? >> yeah, i think it definitely helped. there's no doubt. it's the biggest buy back in corporate history so that helped. liz: would they have done that if iphone sales were much better? >> last year they did 90 billion so maybe 100 billion. i think they would have increase it had, but maybe not that much. you do -- the one issue is a year ago they had 5 billion in sales from replenishing demand
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that was not available because the plant shutdowns in china. when you take that out, total sales rose about 1% instead of down 4 and iphone was about flat. liz: you've got a buy rating, you like it no matter what here. there was something in your note that i wanted our viewers to see. it was a macro-picture and then i want binky to comment on it. put it up and you use the term economic quagmire and believe the darkest days of the economic quagmire are ahead of us. what quagmire? we have economic sales and job growth. >> it's unclear to me what's happening here. liz: quagmire is pretty clear. >> i don't think the economy is as strong as numbers suggest. and i think people are still struggling with inflation. look at people aren't going out and buying lattes in the market.
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liz: stark bu bucks and mcdonals numbers were hurt. what say you, binky? people at low end are truly struggling. >> i like to hear these kind of expressions about the quagmire and how bad growth is and the economy because that's actually exactly what has powered this rally from late october 2022. remember, over this time, if you're back in 2022, everybody is calling for a recession. early 2023, everybody is calling for a recession. they position that way and so when it didn't happen, we've continued to sort of move up i would say instead of listening to the narrative, look at data and see the biggest part basically of the u.s. economy, which is the u.s. consumer and talk top down, aggregate consumer and spending has been growing steadily at 2.5%, you know, for the last ten years i
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would say. and there's a blip in the pandemic of course, down. but there's actually been absolutely nothing to see. easy has been really easy to be very bullish because everybody is talking about hitting a wall but everybody looks pretty normal. liz: what maybe the final answer is how many final answers when they roll them out. good to see you both. brian, would be back and bankim, thank you. dow jones industrial gain of 400 points and watched ozempic and other weight loss drugs push pharma stock to the sky and craze has other businesses scrambling to capitalize. coming up, health and nutrition retailer gnc re-designing its is aisles to highlight the nonprescription products it says help with those dealing with the belt tightening side effects and gnc ceo is live from one of his
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stores to tell us and show us what he's planning in a fox business exclusive. the pharmaceuticals etf includes eli lily, maker of zep bound and november in order, the maker of wegovy. the "claman countdown" is coming right back. did i read this? did i get eggs? where are my keys? memory and thinking issues keep piling up? it may be due to a buildup of amyloid plaques in the brain. visit morethannormalaging.com
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liz: we've got to show you the dow meat map one more -- dow heat map one more time. the gains 447 points right at the top. we've got the one showing the most muscle, that is amgen up 11%. pharmaceutical giant getting
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quite a major boost. today on promising interim results of mid stage trialing of weight loss drug meritide and injectable for obese or overweight adults without diabetes and amgen working with regulators for a late stage trial and possibly entry into the market is sending major players like eli lilly, maker of zepbound down 1.2% and novo nordisk maker of wegovy down half a percent. in the last few months, gyms have warned they're seeing lower attendance, wal-mart said its customers on ozempic are buying less oturu grocery stores and gnc wants to capitalize on the shifts and the nutrition company launched a new strategy to cater to gl1 users and a wall of
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supplements in their stores with 200 products that they believe will appeal to those on the drugs. ceo michael costello joining us live from the gnc store in derby, kansas. michael, how are you evolving retail stores in space and more. >> they've been helping consumers live well and gnc is a new trend and lots of side effects and 15% of people leave the treatment because of side effects, especially with gi issues. liz: okay and talk about the side effects. there's fatigue, nutrient deficiency and loss of muscle and what products do you have and why you're changing your shelving to make an entire area. i assume you see demand here. >> we do. liz, we know that as we said,
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these consumers, they get off the drug too quickly many times and don't get the results they want. this is a tough journey for everybody. if you've watched the huli special, you can see all -- hulu special, all the complaints that people had trying to maintain on the drug. 73% of people have a gi issue when they do the clinical studies. we have products back here that are set up for the digestive health, that would be super gut, a shake that you make that adds finer and probiotics, ginger, but talking about muscle mass, maintaining muscle mass it's tough and lose many on these than other ways to lose weight. so we have hmb, which has over 40 clinical studies to maintain muscle mass and creatine and protein and energy have both b12 as well as energy drinks, and then because nutrient deficiency, worry about bone health and calcium, vitamin k, vitamin d and multivitamins that
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help you maintain all of the various elements of your -- your calories are so restricted and eating so much less food, you're not getting nutritions for the food. we have products here that help you. liz: sounds like it. i'm interested in the loss of muscle and sure the people that go on this drug, they're dying to lose fat but saying what happened to the muscle i worked on. you have everything from performance creatine and total lean shakes. tell me about the shakes. people don't have enough stomach to eat the kind of food and amount of food they used to when they finally go on the drugs. so is a shake more palatable for them? >> g s1 makes you -- glp-1 makes you feel satiated and don't want to go so drastic and the shakes
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don't satiate you so much and allowed to get more calories -- you get calories to keep it at a healthy level versus dropping so low. we have protein if you want that and mix it in your shake at home. no matter how you want it, we have the products for you. liz: michael, how much are you spending to do this? move these shelves all together and put up a sign that says side effects and train your employees? >> yeah, that's a great point. we're not measuring the costs and here to help consumers on the journey. extensive training through the month of april and coaches in store and we shut down and we spent -- i was in queens sunday morning from 8:30-11 where we did training and role play and have empathy for the folks coming in and talk about the journey they're going on and how to help them. then of course to move all the shelves in the store takes time
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and effort. liz: very vitamin shop is partnering with a telehealth company and can prescribe glp-1s to customers and any plans to do something similar? >> we've made a decision not to do glp-1s and we want to be trusted adviser and objective adviser and want to take one, great. you want to take others like glucotrim, that's good too. we'll be objective and help you on the journey and not pushing a glp-1 on you. liz: everybody could expect a different look on some of the shelves for glp-1 space or side effects in gnc stores. showing it to you first. thank you for joining news a fox business exclusive. michael cos cos costello, we ape it. >> thank you, liz. liz: most exciting two minutes
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in sports kicks off tomorrow. 150th edition of kentucky derby. what we're going to do if you can't get there is we're about to take you live to the site of the derby to check the money line on the ponies and tell you how much the race means financially to the bluegrass state. betting on horses is one thing. but betting on what might be the next big business idea, that's near impossible. who in their right mind would think there's money in slime. karen in 2019 widowed and steeped in grief and found calm and joy when a friend's young daughter gave her slime to play with. the proverbial lightbulb goes on over her head and karen decided to launch the slew moo institute at a store front in new york city and it's an immersive space where kids and adults play with slime and scents from dragon
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fruit, cereal, waffle and more. on opening day, 6,000 people showed and you happen after one month, sloomoo was profitable and highly unusual for the startups to make a profit in the first year let alone the first month. when the pandemic hit, last thing people wanted to do was gather in groups to play with a mucus-like substance. how did karen keep her business alive through the lockdowns? she's opened sloomoo institutess in mayor u.s. cities and los angeles on the list and million dollar story oozes out in my brand new everyone talks to liz podcast and apple, google, spotify, wherever you goat your podcasts. we're coming right back.
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lyric it's off to the races for the markets and horses. tomorrow marks 150 years of kentucky derby, churchill downs in louisville. morning line odds for the 20 participants show couple of early favorites, sierra leon could be the first kentucky win for long time trainer chad brown with 3-1 odds at post 2 and at post 16, there's fierceness with a 5-2 odds jockeyed by three-time derby winner john velazquez and in 2023 if that's any indication, the race will generate a pile of cash in the betting arendition of anthony that . last year betters placed $189 million in track wages last year and that's all time record
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up from the $179 million betters placed in 2022, which was a record that year. but it's not just gambling stocks that will reap the race benefits. so will kentucky's state economy. kelly sabiri is live at churchill downs, dressed to impress. very nice, kelly. ready for the races. reporter: sorry, i couldn't see you. this feather was in my face. it's the filly race and start with the oaks. tomorrow is the derby going on rain or shine. it's been quite a wet day today, but the experts tell us this is designed to dry quickly. let's get into tomorrow and 20 horses will compete for $5 million purse and winner takes home about $3 million and fierce this is the front runner and his owner, you know, from cofounding the sports rink body armor 0-9 here and could this be the year? a lot of moten now and then for
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sierra leon and experts and analysts at the track tell me he could be a smart bet tomorrow at 3-1. this race like you mention second-degree a big generator for businesses that are big and small. horse racing brings in about $9 million of revenue for the state of kentucky including $150 billion in tax revenue. i want to bring in the former ceo of visa. he and his wife are a team and they're the current owners of society man. how are you feeling and more importantly how is society man feeling? >> society man is great. we spent the afternoon with him yesterday and we're co-owners with dean and some other folks. he was laid back, relaxed, but he's a good boy and a big boy, and he's going to be ready tomorrow for sure. >> he's a strong boy too so, you
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know, don't let that gentleness deceive you. he knows his job, and he's improving every day so we'll see hue it goes. it's all about how the trip goes. you never know what happens. >> and frankie detori one of the classy icons of thoroughbred racing riding him and a lot of things lined up just to speak to that . everybody says the kentucky derby is the most exciting two minutes in sports, and it's nothing like if you're affiliated with a horse and like the animal kingdom and we are with society man and winning it is a game changer for you. just being part of the whole celebration and ambiance of triple crown and kentucky derby is a real honor for everyone. reporter: thank you, guys.
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we appreciate you being here. we have carl and muriel pascarella and the gambling. last year a record for the amount generated for the hand and will we're expecting that there will also be a record breaking year at churchill down this is year as well. back to you. liz: stock up about half a percent. good luck to all. thank you so much, kelly. keep the feathers out of your eyes but keep the hat on. it fits you, darling. thanks so much. speaking of the derby, take a look at draft kings stock. platform has a horse betting app with direct access through it is online sports book. the stock at the moment is down and revenue has risen 53% year over year in the first quarter and key to the jump in revenue and what push it had is launch of legal sports betting in vermont and north carolina. by the way, that stock is up 100% over the past year.
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expedia lower after the online travel company cut its online sales outlook of vrbo brand weighing on growth and company projecting full year revenue growth in mid to high digit range and that's down from a prior forecast of double digit growth so the stock is getting clobbered down 14.6%. rival booking holdings in the green up 3.33% and adjusting profit share year over year and the company sold 33% more airline tickets in the first quarter spared to a year ago. hims and her stock falling and ceo said his company and others would like to hire anti-israel protesters from college campuses and the palestinian american founded telehealth and online company in 2017. in a post on x, rewrote in the last 24 hours "moral courage is
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greater than college degree. if you're currently protesting against the genocide of the palestinian people and for your university's divestment from israel, keep going. it's working. there's plenty of companies and ceos eager to hire you regardless of university discipline". he ended with a link to the company's career page. new york police department at request of universities removing pro palestine and anti-israel activists from two big apple universities and this just in the last couple of hours. take a look at economic costs facing these universities as college protesters ramp it up and turn to social media to organize these demonstrations. as the market rallies, there's always laggards and mcdonalds at very bottom followed by american express, jp morgan chase, j&j, chevron and merck. we're coming right back. the dow is still gaining about
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matching your job description. visit indeed.com/hire liz: final day of classes and anti-israel protesters and causing chaos on campus. you're looking live at two different universities right now. george washington university and activists smothered in a palestinian flag and on the rights university of texas at dallas where students are peacefully listening to speakers who are also pro palestinian. in new york this morning, different scene here and nypd
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breaking up pro palestinian encampment at new york university, 13 people were arrested, 43 more were arrested as the nypd cleared out new school nearby more than 2,000 arrested across the nation and protests have begun to cost the universities. pro hamas and smashing way into hamilton hall before nypd cleared out demonstrators and arrested more than 100 people who had to face the building and it's not just property damage, watch. >> this can be over in a second and let me and my friends go in to class. liz: that ucla student prevented by those people standing in front of him and see as this
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tape goes on and puts his hands up to show he's not shoving them and then you start to see a taller guy there, see that in the blue shirt, even further prevent this kid from attending his classes. we remind you, it's finals right now. now jewish students are saying they're done and some schools are pulling out from the president of one university in new york are telling "varney & co." on fox university. >> we're being asked by jewish students to transfer and our transfer is up 53% this year. we have students regularly achieving this university like columbia and now we're seeing more than ever. we're packed and our enrollment is full and we don't have the ability to fit everyone who wants or is qualified and come to yeshiva university and we
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have the longest wait list we've ever had. liz: a lot of students coming from i vie leagues where anti-semitism is -- ivy leagues where anti-semitism is allowed to fester and protesters are demanding their universities divest from companies that do business with israel. that could put billions of universities in could you tell me funds and deep pocketed donors that fully support israel in the war with hamas. total endowments at total institutions, $839 billion in 2023. that's an average of 1.215 billion per university. so far no college has fully agree toddy vest. all though brown university said it's endowment board will take a vote on the idea. by the way, they did that to ensure that protesting students would clear out their tent cities. meanwhile, the activists still on campus are using social media
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to coordinate their demonstrations. madison alworth is live at nyu with that story. madison. reporter: behind me this morning was an encampment and now that space completely cleared out and that's because at 6:00 a.m., the nypd moved into the encampment and arrested students and able to clear it out. that's a scene, these encampments and arrests and we've seen play out across the country. the scenes occupying spaces and hub for antifa activists and describing as rebel alliance and has published lessons on how to protest on campus and lessons include things like "you don't need to convince everyone before the occupation, everyone knows the situation, you just need to start the party". "when you take a building, don't immediately hold a meeting. that is a mistake. start changing the space,
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preparing it, remolding it to your desires". social media posts also attempt to radicalize the users. this instagram post from the students for justice in palestine calls for the globalization of a student anti-fada and the "the student movement is stronger than any weapon held by the occupiers and state forces to defend them and remain in the encampment. many northeast on the instagram story at nyu calls for all out rally at 4:00 p.m. and promises to "they'll be back". nyu president called out and ends with the line we will not forget how this spoke of the zionist empire disguises itself as academic institution.
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social media and cross communication and ideal from nyu to the west coast. liz: spree speech is fine and defacing property and preventing other students from getting to class or making them fearful about coming on campus, i think we all fail how that's okay. what a different site from when we saw you a couple of days ago walking the line with the protesters at columbia, that's been shut down. thank you so much for bringing us the story on both fronts. reporter: absolutely, liz. liz: we are coming right back with billionaire larry conner on rental prices across the nation.
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liz: yeah, we still got green on the screen here, dow up 468 points on this friday. is it now a renter's market?
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according to bankrate, it is. a new report prosecute if financial firm found renting is more affordable than buying a home. in the top 50 metro markets, the average monthly mortgage payment now costs 37% more than the average rent payment. but what does increased demand from those who can't afford a home when it means to rental prices in let's find out from the founder of the connor group, a real estate investment firm which owns and operates luxury apartments in 18 markets across 12 states in the u.s. founder and managing partner, larry connor joins me a fox business exclusive. larry, let's talk about the markets you're in. you've got some very big cities here. and then the what are you seeing when it comes to the pricing of rentals? because you could easily look and say, well, demand if's coming up, i can raise my prices. >> yeah. thanks for having me and and, yeah, we operate in 18 cities around the united states.
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so you are correct that historically if you look at higher price of homes, higher mortgage costs, that always translates into more demand whether occupancy or pricing power on apartments. i will tell you that was certainly true last year. but if you look at recently, in the last couple months, some markets, some markets we're seeing concessions. and we're actually seeing concessions anywhere from two weeks to tree months depending upon -- three months depending upon the particular market. so it's a much more of a market specific than, let's say, globally across the united states. liz: where are we seeing rental prices drop? which cities? if. >> yeah. so perfect example is austin, texas. great city. we've been in that market for 14 years. and depending upon the submarket that you're in, you could see a
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month if to three months. other submarkets in austin you'll see nothing. liz: okay. well, according to bankrate, and let's bring up mortgage rates because the 30-year fixed continues to stubbornly stay above 7%. and right now we have it at about 7.36% this week. i mean, it's getting up there. people would hate to see. . 5% or even 8, but are you seeing an influx of new renters, and in which of your markets? >> so the answer is, yes, on two tracks. so we're based in the midwest. it's a great rental market. there's no question we're seeing an influx in ohio because of high mortgage rates. second kind of interesting inside the city, if you look at buying and selling of apartment if communities, it's a really bad time to buy especially when
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we've seen the last 50 basis points run up in the 101-year treasury which i -- 10-year treasury which i think now sits at 4.if 6 or 4.7%. liz: i've got to ask you because "forbes" if has dubbed you the thrill-ionaire, you've taken a submersible down to the bottom of the mariana trench, you sky dove from a hot air balloon, you went up in space. tell me what the next thing you see in the business of space really is and whether you're ready to try it again. >> sure. so we had a 17-day mission if two years ago, first all-private mission. i was fortunate to be the pilot. extraordinary exexperience. the back story is we were not tourists. we spent 10 months in full-time training. liz: right. >> you become astronauts. would i go again? absolutely. is there a possibility i'll go
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again? yes. but that's in the future hopefully at some juncture. me personally, i believe that space is the future. and if you also look at it not only u.s., but globally, he who controls space probably controls the earth. and that's why america, i can tell you are if my study, leads in space right now. but the chinese are closing, and we've got to be vigilant are. liz: yes, you are correct on that. and especially considering they may want to do some nefarious things up in space. we've got to be right there. thank you so much, larry. be well and let us know your next adventure. >> do. thanks, liz. liz: you got it. larry copp nor. all right, 1722 s&p components -- 172 s&p components reported quarterly are results, so we're almost done here, 400 total. earnings season though, we've got some big names coming up.
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palantir, williams and tyson foods on monday. tuesday's a big one, disney, bp, ubs, occidental and lyft. wednesday, toyota, air b if nb and fox business' parent company report earnings on thursday, more -- sorry, thursday, more entertainment earnings from warner brothers-discovery as well as hyatt hotels and papa john's. close out with the energy big names, enbridge. joining us now, keith fitz-gerald. ahead of this, which ones do you like and which ones would you just avoid, keith? >> oh, my goodness, that's a tough question because there's great names coming up. palantir is a significant holding of ours. that's one i'm very focused on. i'm very interested in arm, and as far as one i'd avoid, lyft and uber are certainly at the top of that list. that one, to me, i think they've got some problems at airbnb too. liz: palantir looks very rocky on certain days, but it has had
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a very solid year. lyft, we've had the ceo on here. he is in a big move if to really central eyes for that -- strategize for that company. what specifically do you look for when you're thinking about buying a stock ahead of earnings? >> couple things. i want to the look does management have its head screwed on straight, am a i hearing good things about where the company's going from customers and from investors because you can't have one without the other. risk is the cost of opportunity. and then on top of that, i want to see what the institutional traders are doing because the mood, the psychology of the markets is very important right now. a lot of people underestimate that. liz: okay. i've got to ask you about apple because -- [laughter] i love this. you're calling people like me -- it's okay, because i did question that historically high, huge $110 billion share buyback, i said maybe they put that in to kind of smooth over the fact that, you know, iphone sales had dropped 10% in the quarter. you called us the ignorati.
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[laughter] listen, what would you say about that? is. >> well, i did not call you that. [laughter] what i'm jiving at there are a lot of people who don't understand buybacks are a legitimate form of engineering. why aren't they investing in the company? they are investing in the company. the laws are set up in such a way as is the financial community where that is just as viable a decision, because it removes shares from the public market econ 101, strong demand, prices go higher. so there's nothing ignorant about it. in fact, it's a very sharp, savvy move for a company like apple, especially right now. liz: the world is littered with people who bet against apple. keith fitz-gerald, our thanks to you. two two-day gains for the market really bringing the majors into the with green for the week. dow, s&p and nasdaq all positive. monday, billionaire investor leon cooperman

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