The company that was forced to close all, all of its 600 u. S. Locations at the start of the pandemic lockdowns, now looking to wipe the slate clean. After five months of blockbuster delays, the Worlds Largest theater chain, amc theaters, is popping the popcorn once again. Coming up in his first and only Business Television interview, live from amcs leewood, kansas theater that just opened in the last few hours, Amc Entertainment ceo adam arron is here. To add to another show that must go on, live nation president joins us in a countdown exclusive on the creative ways live nation is now living up to its name despite a nearly left for dead concert scene. Microsoft getting a boost in this final hour after my report yesterday that sources close to bytedance say tiktok buyout talks with microsoft are in the seventh inning, but could support from the white house help oracle rally back in the bottom of the ninth or is it microsofts to lose . U. S. Undersecretary of state for economic growth, who has been an instrumental voice in the tiktok moves and wechat bans, is here in a countdown exclusive. Which team is he and the state department rooting for, and the bold move that could add more powder to the keg in what we are calling the u. S. china tech cold war. This as big tech refuels stocks, nasdaq the clear winner but will it be a photo finish at the close. Plus bidens big night. The unpopular stocks poised for stardom and the hidden cash equities. Less than an hour to the closing bell, lets start the claman countdown. Liz breaking news. Apple facing yet another fight over its app store terms. This time with news publishers. In a letter to apple ceo tim cook, major news organizations, including the wall street journal and new york times, say they are looking for an improved deal with apple, seeking to keep an additional 15 of subscription revenue. News publishers currently pay apple, like many other apps that have to pay apple, 30 of the revenue from first time subscriptions made through the ios app and reduced to 15 after the first year. This comes after epic games took legal action against apple for removing its fortnite game from the app marketplaces. Apple shares still hitting an alltime high, above that key level they need to be to keep it at a 2 trillion market cap. Right now apple is at 470. 73, up 1. 75 . Estee lauder posting a wider than expected loss for its fiscal fourth quarter, saying the lack of parties and gatherings and store closures have impacted the company, but its hair care and skin care side of the business has been quote, more resilient. Doesnt matter. They are falling about 6. 5 . The Beauty Company also said it does plan to close 10 to 15 of its locations internationally and that means it will have to cut about 2,000 jobs. Flip it over to victorias secret parent l brands blowing past Second Quarter earnings estimates. The big winner this quarter, ecommerce sales. The stock up five full Percentage Points at 29. 89 a share. Victorias secret saw online sales up 65 and Bath Body Works up 191 . Listen, the coconut candles. The white pumpkin candle. The best, right . Total sales still down 20 for the same quarter last year. Shares of l brands as we said up 1. 43 right now. Did the oracle of omaha Warren Buffett just make a Huge Investment in gold miner barrick gold, maybe not for the gold but the copper part of the play . Taking a look at barrick stock, its up 2. 7 month to date but pretty much where the Company Started at the beginning of the month, even before the huge rally monday, when buffetts investment was announced. But aside from being one of the Worlds Largest gold producers, barrick, the ceo told us a week ago, has a huge copper business which produced more than 430 Million Pounds of copper last year. As you take a look at copper, it might be down two pennies at this hour but prices hit a twoyear high in earlier trade today. We are watching that. Remember, copper is very much a proxy for the health of the industrial activity of the world. Stocks recovering from earlier losses, putting the nasdaq on pace for another record close but with the markets and popular stocks like apple and tesla, have you seen tesla, hitting record after record, are there some more unpopular stocks that investors should consider for their portfolios right now . And how do you find them . Our traders know. To the floor show. Phil flynn, what do you look for when investing in unpopular stocks . Teach our investor audience right now. I think you want to look at what nobody else is looking at but still has value. Something that may have unfairly been sold off because of some thing that has nothing to do with their core business. We hear it a lot of times when we throw the baby out with the bath water. If you get a bad selloff in one of the leading stocks and a stock sells because you had a bad stock day, thats it. Now that we are in this covid19 world right now, everything is viewed through a covid mirror. You have certain stocks that are doing really good because you are immune to the covid virus. They are going to make money whether the covid virus goes on or it doesnt. Other companies where theres a viewpoint where these stocks got really beat up, maybe more than they should have because they were impacted by the covid virus. So this is a perfect example. The ones that have been hit the most, travel and leisure, for example, theres some very good value there and if we ever get a vaccine, they will come back, and utilities, why utilities got bie beat up as bad as they did is beyond me. I think the utility sector is way undervalued and thats what you look at right now. Liz yeah. I think so. Just to mention here, with the dow up 68 points, and the nasdaq, the number to watch for the nasdaq, we need to see a gain of 64 points for the nasdaq and right now, we are up 119. That would be a new record, larry shover. It is tempting to think it will just continue to go higher, let me buy some of the expensive plays such as apple or perhaps tesla. How do you play the gorgeous white swans later on down the line . They are black swans now but yeah, i think another component, phil added value, return on equity is definitely one, earnings per share, dividend yield, all those things make sense. There is also an emotional component. A stock like Carnival Cruise line, 15 a share, down 75 . Will it ever recover . I just dont think we have, we can even fathom what its like when we definitely will have a vaccine. Is there pentup demand . I think there is. I cannot wait to go back on a cruise. Its something i love to do. Generation x loves to go on cruises. Theres also an emotional component. I could talk about British Petroleum and also gm and theres emotion to gm, too. People think of gm as a sluggish and, you know, whole of its parts is worth more than the company itself. The fact is, they are getting its not the packaging it is the packaging, not the technological efficiencies that it has. You talk about spinning off companies. I think there are values out there but you have to look at the emotional part of it as well. Liz you know, i do want to just quickly look at tesla. Talk about a momentum stock. Tesla has gone crazy, up 45 in just the last week, as people want to jump ahead of the game, ahead of what we know will be a fiveforone stock split. At the moment, we have tesla up another 7. 33 , phil, at 2,016. Volume, 1. 3 times the tenday moving average. Its tempting because as you thought last week boy, its expensive and you didnt buy it, you missed out on another 7 gain. Yeah. I think i would wait for the stock split to buy it because you will probably have a selloff shortly thereafter but that isnt to say tesla isnt a good stock. This is a stock that has defied the experts, defied the bears and continues to go higher, and you know, its not a stock about a car company, its a technology company. People are starting to get that right now. I would love to get that stock but i will wait until it comes down. Liz yeah hey, liz d [ speaking simultaneously ] i remember in 2014 how bullish you were on the stock and i gave you an eye roll because i thought there was no way the stock would do what it did. Good for you. Liz i know. I know. We got to run, guys. Thanks so much. Good to see you, larry, phil, as always. We appreciate our floor show traders. Closing bell ringing in 50 minutes. Dow is up 71. Go, go, go. Microsoft adding a major portion to the dow right now. In the meantime, two Entertainment Industries decimated thanks to covid19 pandemic. First, live entertainment, specifically concerts, put at a standstill, dead in the water, wiping out all of live nations revenues but wait until you hear what the venue operator has in the pipeline and when they expect live concerts to be back in full swing here in the u. S. And time to go back to the movies. Talk about dead in the water. Amc entertainment was for five months. Now today in the last couple of hours, opening 100 locations with 30 capacity. But will several states still not allow theaters to open, namely new york and california, will this be enough to salvage the Movie Theater industry . A live interview with adam aron from one of his theaters that just opened in the last couple of hours. First on fox business. The claman countdown will be right back. Its a thirteenhour flight, thats not a weekend trip. Fifteen minutes until we board. Oh yeah, we gotta take off. You downloaded the Td Ameritrade mobile app so you can quickly check the markets . Yeah, actually im taking one last look at my dashboard before we board. Excellent. And you have thinkorswim mobile so i can finish analyzing the risk on this position. You two are all set. Have a great flight. Thanks. Well see ya. Ah, theyre getting so smart. Choose the app that fits your investing style. But what if you could stdo better than that . K. Like adapt. Discover. Deliver. In new ways. To new customers. What if you could come back stronger . Faster. Better. At comcast business, we want to help you not just bounce back. But bounce forward. Thats why were helping you stay ahead and adapt with a network you can count on, 24 7 support and Flexible Solutions that work wherever you are. Call or go online today. Liz all right. Breaking news. In a statement, we have this from goodyear tire. Goodyear tire, this is hitting the tape now, saying it has clarified its policy on political expression after President Trump criticized the company. The stock moving higher by. 33 although off the earlier highs of the session. Goodyear says employees can wear apparel expressing support for law enforcement. All right. Let us get to the dow. Its still up 53. Breaking at this hour, for the First Time Since march 17th, the curtains at amc theaters are rising around the nation. 100 of amcs 600 u. S. Theaters reopening after five long months of pandemic lockdowns. After dipping below two bucks in march when the company went to zero revenue, amcs stock is reflecting the improving picture. It is up at this hour right now, and month to date its up 38 . In his first interview live from a reopened theater, we take you live to amc town center 20 in leewood, kansas, where amc Ceo Adam Aron joins us for the big moment. Adam, it has been a near death business experience for you and your team over the past five months. Describe what today is like for you. Thanks, liz. Indeed. I am at amc in leawood, kansas. Happy to be with you and your viewers. Here we are at the opening of the theater. We are at limited capacity but we are sold out. Welcoming america back to the movies. Liz sold out. Okay. That is what i would like to know here, adam. Give me a sense, though, you have been open just a few hours. We have the list of theaters that we can roll, what we call the cyberscroll, everyone from atlanta to some florida theaters, tallahassee, i got the whole list here, boston, houston, dallas. What are you hearing on the ground from your team as far as ticket sales are concerned . We are all so excited. We have been waiting for this for five months and we spent so much time and effort to make sure we could open the theaters safely, cleanly, responsibly. As you know, some of your viewers have seen your show before, we got Harvard University school of Public Health involved, working with faculty there to advise us. What do you want, liz . Hand sanitizer, disinfecting wipes or popcorn . As for ticket sales, we are only selling 30 of our seats. So yes, we are sold out today almost all across the country. Liz that is excellent news. Now, you are giving diminished prices, are you not . In fact, 15 cents for some tickets because you are going back to the hundredth Year Anniversary and what people used to charge for tickets. Thats incredible. Thats exactly right. Amc was founded at twelfth street and grand boulevard in canton city, missouri in 1920. We were so excited to reopen our theaters, we decided for our opening day, more than 100 locations around the country, it was going to be movies in 2020 at 1920 prices. What did they charge in 1920 to go to the theater . 15 cents. Thats what we are charging today. Liz okay. I understand why you are sold o out. Do you expect to continue to see that kind of enthusiasm . Prices go back up tomorrow but they are only going to 5 which is still not half our normal price and thats because we are showing what we call library or catalog products. We are showing two of the best movies of all time, Empire Strikes back, black panther, grease, ghostbusters and back to the future. We are days away from new blockbuster releases. Unhing unhinged opens tomorrow. X men opens next week. All of america has been talking about tenet, Christopher Nolans new movie which opens on september 3. Liz labor day week. Im very excited to see that actually happen because tenet is supposedly that unbelievably hot movie and people will no doubt come flooding in but you have spent a lot of money to make sure they feel safe. You put in all kinds of air Filtration Systems at great expense to the company. What else, so that people understand . I know you started with a mask on but you made sure because i heard you in the commercial break telling everybody around you, social distance, get back, but aside from that, you require the participants whether an employee or customer, to wear masks and what else can they do to feel more comfortable . You taking out seats . Theres a lot we are doing to make amc safe for our guests and for our associates. We are requiring masks. I only took it off so you can hear me in this interview. But everybody is wearing masks. Social distancing is very important. We set up plexiglass shields, we have gone contactless and cashless at Concession Stands and box offices. We are only selling 30 of our seats in the theater. More than that, its high tech, too. In addition to all these cleaning protocols, weve got electrostatic sprayers, hepa vacuu vacuums. You can eat off the floors in our theater. They have never been this clean. Liz okay, ill try that. Im a big proponent of the threesecond rule. If you drop it, you can eat it. Ive got two questions. Number one, tell me about how you are dealing with the compressed or shortened theater window that you struck when it comes to the rolling out of movies, in just 17 days, i believe, versus more than 70 days, with universal. Are you now striking those same deals with other Movie Companies . We are trying to strike those deals with other studios because we think we come out ahead financially. Instead of just being paid when someone comes to our theaters, we are also going to get a share of the home revenue. We will get paid whether you are on your couch or in our lovely seats. I will tell you, we only have a deal with universal so far. The traditional window is still in effect across the industry. Liz okay. All right. Finally, you are the coowner of the philadelphia 76ers. I was watching the game last night. First quarter, 76ers are up. I leave to go get frozen yogurt, can you hear me . Check, check, check. You know what, this is the second time i have asked him about the 76ers and we lose him. Okay. All right. Let me answer for him. Adam aron is coowner of the sixers. We wish them good luck. They did lose last night to the celtics but boo, celtics. Go, sixers. All right. Adam aron of amc theaters. He is sold out across the nation on this first reopening day. Dow has just lost a chunk of the gains here. We are still up 27 points. S p better by eight. With the closing bell ringing in 38 minutes, chinese ev maker nio slipping after launching a battery Leasing Service that will allow customers to buy the car without owning a battery pack and instead pay a monthly fee. This will also allow nio to lower the price of its cars. Nios ceo also says the Company Hopes to Enter International markets by the second half of next year. And as democratic president ial candidate joe bidens night to shine, what are the people in bidens hometown on night four of the Democratic National convention saying about the former vp . Connell mcshane live in scranton, pennsylvania. We will take you there next. This is decision tech. Find a stock based on your interests or whats trending. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. Now every bath fitter bathbath fis installed quickly, safely, and beautifully, with a lifetime warranty. Go from old to new. From worn to wow. The beautiful bath youve always wanted, done right, installed by one expert technician, all in one day. Weve been creating moments like these for 35 years, and were here to help you get started. Book your free virtual or inhome Design Consultation today. 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Liz former president barack obama last night making the case that his former Vice President , joe biden, is the man to fix the main street economy. In just a few hours, joe biden himself will step up to the microphone to accept the democratic nomination for president , and as always, the road to the white house runs right through bidens home state and key battleground, pennsylvania. President trump is holding a rally today in old forge, pennsylvania, right down the road from bidens hometown in scranton. Thats where Connell Mcshane is standing by live. Interesting timing, connell. But what are you hearing from folks in scranton ahead of the big night . Reporter its a little mixed. Its really interesting. A lot of action here which i guess makes sense, because to your point, the next president of the United States may very well be decided in this part of pennsylvania. I mean, the county thats just to our south, luzerne county, you could argue put donald trump in the white house. He did so well there four years ago and he did better here in the scranton area, lackawanna county, than most republicans have done in the past. Its so unionbased here. The democrats used to dominate, win by 20 or 30 points, but President Trump only lost to Hillary Clinton here by three points the last time around. Hes hoping to kind of keep that going and in talking to the voters as we have been doing throughout the day, there is support certainly for the hometown guy, biden, but also some support for the message you are likely to hear in the scranton area from President Trump, to blue collar workers. Heres a little bit of a sample. Hes a boss. He knows what he wants and he knows how to put it across. Hes a businessman. The United States has needed a businessman to run the country for years. I think we need change. Im not a trump fan. Although, you know, hes a good businessman but no, i dont think hes a good person and i think we need someone who is going to care about the american people. Reporter you know, we have actually stopped by joe bidens boyhood home earlier today. Theres a look at it. Its very close to where we were speaking to those people in that same neighborhood. Only two families have owned that home over the years, the bidens and the family that bought it from them. You know, i was talking to the son, the older lady still lives there, shes in her mid 80s, the son says the former Vice President comes back on and off over the years. They are certainly rooting for him. They have a biden sign on their lawn. Hes hoping to capitalize on that, but its interesting, this area definitely has been shifting to the middle politically and that message especially on International Trade that you are likely to hear from the president in his remarks in scranton, that resonates with a lot of people around here. Well see how it goes. Could be very close in this area. Liz as a mom of a Syracuse University student, we drove right through scranton to get the there. Fingers crossed but its a fascinating, fascinating center of attention for this nation. Thank you very much, Connell Mcshane live from pennsylvania. Closing bell, we are 30 minutes away. Dow is up 22 points. We broke it to you exclusively right here on the claman countdown yesterday. Microsoft, not oracle, will be the likely company to buy tiktok, but even if there is a deal in place by the deadline, will it ever be approved by the trump administration, which deems the short form video app a National Security threat . Next, we will ask the man at the state department who is intimately involved with the potential tiktok ban. Keith crock, u. S. Undersecretary of state for economic growth, energy and environment, joins us exclusively when the claman countdown returns. Its easy to get lost in the economic uncertainty. The volatility. The ambiguity. The moment calls for more. And Northern Trust delivers more. With specialized expertise. Proven strategies rooted in data and analytics. And insights borne from over 130 years of successfully navigating economic turbulence. Giving you clarity. Inspiring confidence. And helping you uncover new paths forward. Northern trust. Wealth management. Liz microsoft charging higher in this final hour of trade. Were looking at gains of 2. 3 . Microsoft is adding 30 points to the Dow Jones Industrials at this hour as investors appear to applaud the news we broke right here on fox business yesterday. Bytedance sources are telling us that microsoft will be quote, the white knight to seal an acquisition deal with tiktok, the wildly popular social media app. Sources tell us that a signed deal to buy the u. S. Assets of the chinese owned Tiktok Company will be done by the september 15th deadline that President Trump imposed. But will a signed deal, whether with microsoft or another suitor, save tiktok from getting banned in the u. S. . We now turn to a man intimately involved with the administrations potential bans of both tiktok and tencents wechat, u. S. Undersecretary of state for economic growth, keith crock joins us sclufrexclusivel the white house. Mr. Undersecretary, thank you for joining us. Let me get right to the point about this. If microsoft or oracle or some other dark horse does get a signed and binding deal to buy tiktoks u. S. Assets by september 15th, will the administration accept that . Well, liz, its great to be back on your show. That final decision is up to the president. Obviously its a race against the clock and you know, its about more than just two companies, tiktok and wechat. Its really, what its really about is three things. Its about the communist partys surveillance state and 5g as the backbone. These apps are appendages as well as cloud and its also about the great china firewall where all data can go in but doesnt come out and all the propaganda come out but the truth cannot come back in. Its also about reciprocity because our apps arent allowed in china. You know, you look at youtube or google search. This is part of a comprehensive effort that secretary pompeo recently announced called the Clean Network and he announced the expansion of that with the launch of five new clean initiatives. Clean apps, clean store, clean cloud, clean cable, underwater cable. Liz what are the key issues you are looking for in terms of approvi approving, again, my sources are telling us here at fox business its microsoft. So if microsoft were to come and say look, weve got a binding signed deal, what are you going to sift through and look specifically for to say okay, that will do it . I think always, the most important thing, liz, after spending 30 years in Silicon Valley, its about the people. So its got to make sure that, you know, its americans in there running the show and then the second one is the data, to make sure thats not going back to beijing because they could take advantage of their National Intelligence act that requires them to turn over any data, and then the third thing is in terms of any algorithms and those kind of things. These are complicated deals to put together. No doubt its going to be a challenge to beat that clock. Liz you are a Silicon Valley guy. You are the ceo formerly of docusign. You know how these deals go. If microsoft or whoever were to present this onesheet deal but asks for more time to actually close because, as you say, it is technically very tough to sort of surgically separate an appendage or arm of a company, how long an extension is the administration willing to grant . Here again, thats a decision for the president. You know, in my past i have been courted by microsoft in terms of acquiring one of our liz i know. And i tell you, it does not happen overnight. Theres so much Due Diligence that has to be done. Now, you know, i mean, microsoft and other suitors that they are talking about are highly capable of accelerating but its going to be a challenge for anyone, liz. Liz President Trump did express support for oracle as a buyer. Chairman Larry Ellison is a political supporter of his. But the president also said weeks ago hes fine with microsoft, too. Whats his preference between the two . Well, i dont really know, to be goshdarned honest with you. But these are two Great American companies, no question about it. And you know, they are some of the most powerful Software Companies in the world. Particularly in the enterprise area. So this would be a new foray for oracle in the consumer space. Liz i want to get to the National Security part of this. He said he will ban the app due to National Security concerns, but he didnt really present any specific evidence of violations. Can you give us at least some of the evidence thats out there about tiktok . Well, you know, i think if you look at all these companies, they have members of the Peoples Liberation army imbedded inside of these companies and their loyalty liz so does facebook. Excuse me . Liz well, i mean, facebook, if you are talking about imbedded, you have facebook bots, chinese bots, russian bots in a lot of these companies. Yeah. Im talking about people themselves imbedded in bytedance or in also in wechat for sure. The communist Partys National congress, he stood up and say hey, weve got to control the internet. These guys not only do they have to turn over that data to the Chinese Communist party, but they also censor anything that has to do with hong kong, all of that, and they have been doing it for years. Liz beyond an app thats popular with teens and the genzers dancing and showing their animals, this is much bigger than tiktok, thats what im hearing, the amount of data china is already buying from data brokers out there is huge. Why is this fairly small but high profile tiktok transaction the president s focus and will the issue be more widely addressed . Well, yes, absolutely it will be more widely addressed and thats why we announced an expansion of the Clean Network. Now this is this is a comprehensive approach to protecting peoples privacy, the most soughtafter intellectual property and also to guard trusted collaboration. So this is much broader than these companies. I think you will see some other things that will be coming out in the future, you know, along these lines. These happen to be the first two in addition to huawei, of course. So this is a comprehensive approach. This is all about the communist party extending the great oneway china firewall right over here in the United States. There are gobs and gobs of data that they just soak up and they have their ai algorithms being able to do all kinds of things. For example, with the credit social scores which in essence quantify how loyal you are to the communist party. So if they can do a social credit score on a citizen in the United States and see well, how likely are they to be an ally of the Chinese Communist party. Thats just an example. Its really scary. I will never forget when i was over there three years ago at the Global Leaders summit and everybody was saying every other, you know, between every reception, hey, download tencent, download tencent. It just occurred to me im not downloading tencent. They are all over you. They want the americans to do that. They want the world to do that. Liz but they wont let google in. Yeah. They dont let google in. They dont let facebook in. They dont let twitter in. But they sure use them. Their embassy here sure uses them. You know, its a oneway street. I think theres a magical and a fair thing in terms of reciprocity and i really salute this administration for putting a foot down because its been that oneway street. Liz mr. Undersecretary, thank you very much for joining us. Good to see you. In fine weather there at the white house. Keith crock, thank you so much. Live nation president Joe Berchtold is next. Hike Simon Pagenaud takes the lead at the indy 500 coming to the green flag, racing at daytona. Theyre off. In the kentucky derby. Rory mcllroy is a two time champion at east lake. He scores stanley cup champions touchdown only mahomes. The big events are back and xfinity is your home for the return of live sports. Liz double 6s. Big jumps in both uber and lyft stock. They may not be going off the road in california just yet. The Ride Hailing Companies just received an emergency stay from a California Appeals Court that allows uber and lyft to classify drivers as independent contractors while the Court Considers the case. The Appeals Court has scheduled oral arguments in the case for october 13th. The court is also demanding uber and lyft submit sworn ceo testimony that they can comply with state Protection Laws if they were to lose the appeal. Initially both apps were scheduled to shut down operations at midnight tonight to revamp operations after a judge supported the state law designating ride share drivers as employees. Both stocks as i said charging ahead. Uber up 6. 9 and climbing. Lyft up 6. 4 . All right. So we just talked to amcs Ceo Adam Aron. Movie theaters finally seeing the light of day once again. But live concert going, live nation is still grappling with how to enjoy live music while living with the pandemic. Youre looking at brad paisley, nelly and darius rucker, all performing in nashville, st. Louis and indianapolis where people were actually able to be socially distanced but they had to stay outside in their cars. The organization that put it all together says its optimistic about the return to live concerts where you are next to the person next to you, getting all geeked up about elo or Peter Frampton or whoever. You know how old i am. Joining me in a fox business exclusive, live nation president Joe Berchtold. Great to have you back on the show. The last time we spoke, it was, you know, all quiet on the western, the eastern, northern and southern fronts. Tell us what live nation is doing right now today as you inch closer and closer to live concerts once again. Yeah. Thanks for having me on, liz. Nice to join you. As you saw last quarter was a near shutdown of our live business but globally, we are now starting to see signs of reemergence. We operate in 40 countries and through asia, europe, new zealand, taiwan, germany. Several countries are starting to find a way they can bring back concerts. Here in the u. S. , our driveins have been a huge hit. Fans are flocking to them. Our virtual concerts, we have had over 67 Million People watch virtual shows from their homes. What we have seen in the last quarter is fans and artists are finding a way to connect. People want live music. They want the experience. One way or another, if they cant all gather and be shoulder to shoulder drinking beer and singing along, they want to get it somehow and we are seeing every sign that says the moment theyre allowed to come back in and enjoy music as they have in the past, they are going to. Liz let me talk about cash, cold hard cash. When we last spoke, you guys had said you were going to issue refunds for people who held tickets but the concerts had been canceled. They also had the option to hold on to them until the concerts were rescheduled. How much have you been able to hold on to and what are your 2021 ticket sales looking like . This is one of the key reasons why we have such great confidence in the return to live and the power of the fan demand for these shows. 86 of the fans for rescheduled shows are keeping their tickets. An amazing level of commitment to see that show they want to see. Even our festivals which have been globally canceled this year, twothirds of fans are saying i want to keep that high price festival ticket because i know i want to go next year. The moment i can return to those shows, im going to return to those shows. So that along with every survey we have done globally shows that fans want to come back. Roughly 90 of fans are saying they are going to be back to shows within four months of when it is we see some daylight coming out of this. So every indicator is saying that. As a result, our cash position is very solid. We project our deferred revenue which is the cash we are holding for concert tickets next year to be 1. 3 billion. Thats off the back of right now, we have sold roughly 19 million tickets for over 4,000 concerts next year. Certainly well above and more tickets than we would have ever sold this far in advance for shows in the future and on our free cash side, we have 2. 7 billion we are holding between cash and available debt against the run rate of about 185 million a month which gives us well over a year to get to next summer sorry. Go ahead. Liz yeah. Thats what you had told, you had said basically in early august, that you could last with zero revenue for another year but it looks like you are able to at least see some light at the end of the tunnel, considering europe is now allowing socially distanced concerts. Joe, you are energized, i know that. I can see it. I need you to go back a little to an unpleasant time which was early march, when the lockdowns happened. What was the darkest moment for you as the head of a company like live nation or i mean, just heard adam aron on our air running amc theaters. He said they went to zero revenue. Thats a problem. Most ceos have never dealt with this before. What were the worst moments like and how did you really handle that . No doubt in my mind, the hardest moments was realizing the impact this was going to have on so many people who work in the live music industry. We have over half a Million People whether they work at live nation, they work at the venues we work in, the roadies, the ticket taker, the security guard. Over half a Million People, their livelihood depends on the live events. Our shows are amongst the first to go away and will be later in coming back than many other things. So the real concern for those people and having to go through with the company, the furloughs we have had to do, we set up funds, crew nation, in order to help a lot of displaced workers but thats certainly been the hardest part of it, figuring out how we can continue to support those people. Liz well, let us know when you have the first live concert where people can be next to each other, drinking beer or get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. Traded goods. Tools, cattle, grain, even shells represented value. Then currency came along. They made it out of copper, gold, silver, wampum. Soon people decided to put all that value into a piece of paper, then proceeded to wave goodbye to value, printing unlimited amounts of money as they passed the buck to the future. Thats why its time for Digital Currency and your investment in the grayscale funds. Go digital. Go grayscale. Liz. Okay, i want to everybody to look at the nasdaq. Right now we have about three minutes left of trade. The nasdaq is rushing toward as record high. The dow is up 45. Nasdaq at 11,271 that is a brand new alltime record. Lets bring in ox bow managing partners ted oakley. Great too have you, ted. Where are you investing at a time we see multiple records . We like Growth Companies that have a lot of cash. Almost more cash than they have debt. Dividend portfolios we like consistent dividends things we think can pay well the next five years. Things on both sides of the equation. Liz when you say cash is being king, cash being king that doesnt mean you cant invest. You say specifically buy into companies that pay you cash in form of dividends. What are the names that you like right now . Right now we like merck, unilever, enterprise products, they pay great dividends of the we think they will continue to pay dividend going forward. Think about risk, 4 dividend as opposed to a bond at 1 over the next 10 years. I think actually the stock may have a little less risk than the bonds. Liz im looking at these names. People can check out the dividends for them. Cash is king, ted is telling you guys you can still buy names that matter that pay you cash every quarter. [closing bell rings] ted oakley, of ox bow, thank you so much. A record for the nasdaq. How about that . 35th record of the year that will do it for the claman countdown. Melissa making it official apbecoming the First American company to close with a two trillion dollar market cap. The stock is up almost 100 since the pandemic low in march. Tech leading major averages higher. The nasdaq closing at the new record high, 35th of the year, 135th record close since the election of president donald trump. S p 500 has been up more than, was up more than 14. 93 points to mark a new closing high. Well see when it settles there. Im melissa francis. This is after the bell. Connel
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