Committee, john brennan was brutal in his assessment of the terror group. Flatout saying isis will send operatives to the west to pull off more attacks. The directors testimony likely music to Donald Trumps ears. Music in the way what we mean by that is that the billionaire businessman has been beating the drum on protecting the home front as he tells gop leaders to get in line or quote shut your mouths. He said that to gop leaders. Hillary clinton getting a major endorsement from organized labor. Former democratic senator evan bayh and republican George Lemieux who ripped donald trump saying his campaign is about to implode on how todays vote will tip the balance, red or blue. A major shift in the possibility of any rate hike this year . Do you see the markets moving higher . Take a look. The dow jumping 62 point. Less than an hour to the closing bell. Ill tell you why as we start the countdown. Breaking news, we have a roller coaster in high speed, reverse, the dow is up 61 points, you cant see a nearly 200point swing in the Dow Jones Industrials. Today alone, at the lows of session the dow was down 169 point, standing at 17,701. What sparked the reversal . Look at the fed funds futures rates for the next four meetings of the year. The december contract is now betting that the fed will not raise rates until next year. No more rates, thats what the market believes and thank fed chief janet yellen for that. Her awfully cloudy comments with the u. S. Economy and global uncertainty, have futures traders pulling chips off the table. No hike this year . We shall see. The fed admitted britains vote whether to leave the European Union forced finger off the e ratete hike launch button. Full seven days before the vote the markets are on edge. You can see from the fear index, it is moving higher 1 . Thats today, but up about 20 for the week. We did have european markets dropping from half a point to threequarters of a point. Oil dropping on eu concerns as well. And energy is one of the worst performing sectors in the s p 500. We have names like sm energy, whiting is dropping 6 , Pioneer Natural Resources down nearly 9 . Heres a good one, you may own this in your portfolio. Do you own merck . A booster shot today. The drug giant up 2. 63 after announcing lung cancer treatment. Lot of people suffer from lung cancer, met a secondary end point in trials. Those things move pharmaceutical Companies Higher and thats whats happening with merck. Back to president obama, we should tell you at any moment he could make a statement following meeting with families of the victims and with the First Responders of the mass shooting at the pulse nightclub sunday morning. 49 people tragically murdered by an islamic terrorist who pledged allegiance to isis. We will bring that to you as soonon as it happens. Jeff flock is on the scene in orlando of the shooting. This is the 15th such address he has had to make to victims of mass shootings. Jeff, what do you expect he will say . Reporter were told not to, liz, expect a major speech, but could get a statement after the meeting. President flew here on air force one with florida senator marco rubio by the way to console the victims. Were here at the Orlando Regional Medical Center as you point out 23 people remain in the hospital. Some of them actually left here were and ambulanced over to the amway center where the president is meeting so they could see the president as well. The three most critical patients are in guarded condition, they were not able to make the trip over there to see the president , clearly. While the president was here, on capitol hill as you reported earlier, the cia director was speaking to the Senate Intelligence committee about the fight against isis. On the one hand he agreed with the president that progress has been made overseas against isis, but john brennan telling senators that is not the entire story. Unfortunately, despite all our progress against isil on the battlefield and financial realm, efforts have not reduced the groups terrorism capability and global reach. Moreover, the groups foreign branches and Global Networks can reserve events for terrorism regardless of events in iraq and syria. As the pressure mounts on isil, we judge it will intensify to maintain dominance of the global terrorism agenda. Reporter he said they are working to inspire lonewolf attacks. I should also report, director brennan, liz, said when asked if he was ordered to resume enhanced interrogation techniques by president trump. He said he would refuse to do so even if ordered, liz . Liz jeff flock, thank you very much. Jeff flock is in florida and i want to remind you as soon as president obama comes before the cameras to make any kind of statement. We will bring that to you. The murderer in orlando used social media, a lot. Look, i continue sounds like an echo chamber when it comes to terror and social media. We went through this when two islamic terrorists pulled off a shooting in San Bernardino in december. Whether apple should crack open the terrorists iphone. Social Media Companies are accused of not doing enough expose terrorist accounts, and then we have this, news broke that the family of the one american, the California College student killed in novembers paris terrorist attack is suing facebook, twitter and google saying those three companies provided Material Support to isis by allowing the murderers to use their social media platforms to spread their word. Days after the orlando massacre, were seeing all the same issues with reports surfacing that the orlando gunman had five Facebook Accounts and made a series of posts during the attack at pulse nightclub. Were asking, are social Media Companies doing enough to help protect americans . Should they be held liable or not. With me former nypd detective patrick brosnan. Five Facebook Accounts. So what . Or is facebook somehow liable for the fact he used facebook and used it as a platform, as a launching point so to speak of his hate and murder. Liz, it comes down to common sense, and theres an alarming lack of it on every capacity. You see it here, personified in this matter. And the same way with apple. A federal judge develops probable cause, gives a federal warrant to apple and says give us the code, the court is directing you. How are they special . How are they special . Theyre not special. Its the same as a warrant to knock a door down, same as a warrant to search a car. The same with facebook. Facebook cannot, should not absolutely be allowed to promulgate the hateful vitriol that is part of the empower. Of animals like omar mateen. It is an echo chambers, you hit it on the head. Liz with the question of privacy, the Companies Maintain a neutral position, is it time to play for home team in america . Absolutely. Time to recognize we had a flawed operational strategy. Surveillances, they had the guy on surveillance, three separate federal investigations, directly linked to a bomber, right . What happens, fbi doesnt rise to probable cause. They drop the case. I get it, fbi is a spectacular outfit, they do great work. We have to find the funds to continually sustain the surveillance. It happened with the karachi brothers in paris, common sense, it starts with common sense. Liz i want to explain what you do to our viewers. You have a Risk Assessment company, you are paid by High Net Worth individuals to scan the web and look for threats against the companies and individuals. How hard a job is that . Its fairly difficult, but we have a very supportive Intelligence Center that operates 247, 365. Were continually parsing all the fire hose of 500 million. Liz disgruntled employees. Absolutely. Liz even the isis guys. Yes. And the astonishing thing is they post time and time again information that is contrary to their best interests. How do you tell the difference between somebody using bravado . To me i say go after everybody at this point. The fbi had the orlrl shooter, and said hes one of the cooks who wants to pretend hes part of the incrowd. Dynamite question. We scrub very, very quickly, scrub very quickly who the poster is. In the case of omar mateen, this is not bravado, we have an individual wanted in connection to terrorism three separate times. No watch list, nofly list. Locked up for this. Thrown out of house for beating up his wife. Misogyny, racism. There was a wealth of data. Liz by the way, weve gotten his school records, 31 times disciplined for things like punk other students. This guy was extremely dangerous. But you now have senator ron johnson asking facebook in a letter nicely, please help us, please give the information. Facebook stock is down, google stock is down, twitter stock is down. Cant be good for their business, this is life. If you look at whats happening, the british member of parliament was murdered today, i dont know if there were any facebook posts or anything like that, this goes back to highprofile individuals. Are we all going to be in danger . I hate to sound some ridiculous alarm, but if you are of any import. You run a business, you are out there as a newscaster or what have you. Are we all at risk . She was at a library having a town hall meeting, and shes dead now. Theres no rhyme or reason to it. In San Bernardino, it was a government building to help individuals that had autism. Then a nightclub, another different venue. Theres a school and mall, the airport, its everywhere, and the empowerment. You understand that rhetoric has consequences. Rhetoric has consequences, if you continually empower and embolden the individuals, whether through social media, misrepresentation in the media in general, it emboldens these individuals. Omar mateen is a perfect example. Liz words, the next step is action. Touche. Liz we wish you the best of luck, patrick brosnan. Former nypd detective. We have the dow still up at session highs, up 66 points. Up next, terror in orlando shaping the 2016 campaign as Hillary Clinton calls for tougher gun laws, and donald trump meets with the National Rifle association. Former senators evan bayh and George Lemieux, democrat and republican, fair and balanced, join us. And the dust still settling after yesterdays fed rate nondecision decision. Have central bankers gone wild . Wild and crazy or silent . Some calling janet yellen and colleagues river boat gamblers. Wells fargo chief economist john sylvia tells us whether they should hold their cards close. David stockman, boy, was he mad. Zero Interest Rates is the mothers milk of speculation. We created a bubble so large, when it does blow, there will be more carnage than before. Anybody whos got any sense get out of market, sell the stocks and bonds, get out of the casino. The people running the fed, led by janet yellen have no clue whatsoever what theyre creating. There are two billion people who dont have access to basic banking, but that is changing. At temenos, with the microsoft cloud, we can enable a banker to travel to the most remote locations with nothing but a phone and a tablet. Everywhere where theres a phone, you have a bank. Now a person is able to start a business, and employ somebody for the first time. The microsoft cloud helped us to bring banking to ten Million People in just two years. Its transforming our world. By switching to xfinity x1. Rio Olympic Games show me gymnastics. X1 lets you search by sport, watch nbcs highlights and catch every live event on your tv with nbc sports live extra. Im getting ready. Are you . X1 will change the way you experience nbcuniversals coverage of the rio Olympic Games. Call or go online today to switch to x1. Liz we have breaking news right now. There have been mass firings and removals from viacoms board, Charlie Gasparino in the newsroom to break the details on the Sumner Redstoneviacom drama. Sumner redstone was seeking to oust the five Board Members from viacom and get rid of the ceo Philippe Dauman. He has replaced them off. Put out a press release. What this means, what we reported a couple weeks ago, a battle royale, the Board Members and mr. Dauman are planning a countersuit saying mr. Redstone is mentally incompetent to make such a move. They had the lawsuit, from what i understand, locked and loaded was the word i heard from the viacom Board Members. Whats interesting in this drama is Philippe Dauman is obviously the ceo, and sumner wants him out. A guy named fred solerno one of the five he wants out. These are independent Board Members. I will tell you this, this story is not over today. Theres going to be a lawsuit, theres going to be an injunction or theyre going to seek to join this move and were going to be talking about this for a long time. This is lets put it this way, in terms of corporate governance, theyre going to say Sumner Redstone is just not competent, mentally competent enough to run this company. Liz the market loss of this news, the stock steadily jumped up 5. 63 . By the way, it looks like a done deal here because it says removed. He has removed these people. Let me just be clear. This is what we reported a couple weeks ago. They have a locked and loaded lawsuit in Delaware Court which they plan to enjoin this thing. Now i guess the judge in the suit could say tough luck, guys. We did run this by a bunch of corporate experts about this, corporate governing experts, not easy for a guy to say no to a guy that own the company. They believe they have good weapons at their disposal. Liz we have the new viacom director names that have been floated here. Kenneth lehrer, Ronald Nelson and nicole seligman. More than that. Hes getting rid of the ceo here. Liz dauman. Yeah, this is not just changing the deck chairs around on the board. We should point out, dauman is overseas right now. I saw something pass across the wires from the new york post. Hes out of town hes in europe. Theyre doing this which is out of town, which heighten the drama considerably. Interesting to see where it goes next. Like i said, i understand, and we were first to report at fox business, the board was locked and loaded. They knew it was coming. Ready by having a lawsuit already drawn up they are ready to file in Chancery Court in delaware where you fight the dramas. The way i understand the draft goes, theyre going to say Sumner Redstone is incompetent to make this move mentally. He refuses to meet with them, to show he is competent, that he can run the company, and going to say behind the scenes, the real person running the company is his daughter who wants to get rid of dauman in the highstakes battle. Here we go. Wait and see what the lawsuit says. From what i understand, that lawsuit is going to have Additional Information as to Sumner Redstones mental capacity or lack thereof. Liz while you were breaking this report, the stock climbed higher, up 6. 25 . Why do the stocks like this . The stock has not done well under Philippe Dauman, the other main thing is he wants to sell off the paramount subsidiary, the movie studio. Liz maybe to alibaba. Obviously Sumner Redstone or Shari Redstone, whoever is calling the shots, its unclear, they do not want that to happen. Liz thank you, Charlie Gasparino. Charlie will be back in a bit in case hes got more here. Thank you so much. And why does this matter . You watch paramount movie, mtv, you watch nickelodeon. Viacom jumping 6 along with the markets up 77 points for the Dow Jones Industrials. Now more than 200point swing here. We have Charlie Gasparino working on the viacom story and fox business and countdown working on the market story. A big move today, big reversals. Well be right back. Please dont go away, a lot going on, on this thursday, folks. In new york state, we believe tomorrow starts today. All across the state, the economy is growing, with creative new business incentives, and the lowest taxes in decades, attracting the talent and companies of tomorrow. Like in buffalo, where the largest solar gigafactory in the western hemisphere will soon energize the world. 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Ask your doctor about cialis and a 200 savings card. Innovative sonicare technology with up to 27 more brush movements versus oral b. Get healthier gums in 2 weeks guaranteed. Innovation and you. Philips sonicare. Save when you buy the most loved rechargeable toothbrush brand in america. Liz and we have our first change by a brokerage on viacom in the wake of news. Charlie gasparino just broke that Sumner Redstone, the head of viacom just ousted the ceo Philippe Dauman from the board of directors, from a buy to a neutral. A lot of the analysts have been really neutral on the stock. They didnt like what was going on at the company. Too much infighting. Too much fighting at the top. With all of the movement the stock is jumping 6. 33 , a mass firing from the board of viacom which owns paramount and nickelodeon, mtv, among many, many other properties here. Big entertainment giant. What do we have in the stock jumping on this news. Investors seem to like it right now. As for liking anything right now. The market loves what it sees, if youre a bull, we hit a brandnew session high, up about 90 points right now. Up 89. We pulled back by two measly points, this is a big swing of more than 259 points today. The dow crossed the unchanged line some 33 times so far. In the last hour, no, straight up. Volatility up earlier now too is reversing. It is down, that means fear is coming out of market. Down 2 . Stay with me. We have 31 minutes left in this hour before we hear the closing bell. A lot of action here. This is your money. We want to get to safe strategies and among them we have john sylvia, wells fargos chief economist along with traders at the New York Stock Exchange and the cme group. To you keith bliss first at the nyse, whats going on here in the positivity of the fed meeting which looked like gloom and doom. In the session here, we got to the point where we shrugged off the bad news from yesterday and what happened in the overnight session. Im skeptical what we see in the market. You are pointing out we are positive on the dow, slightly positive and the s p back above the unchanged line to the positive side. The vix is still dancing around 20. The transports are still down and the russell still down. To me, those are still warning signs. I think it will be interesting to see if we get an upday out of a day we have oil clobbered in the session today and we have that oversold. If we can disconnect the two and equities start trading on their own merit, we might see change. Im going to be cautious, liz, as we enter into the Brexit Debate full steam next week. Not going to get too excited here. Liz im sure john sylvia, you feel the same way at wells fargo. Youre watching this and say watch for the u. K. Vote whether to exit from the European Union. Thats next wednesday. Do you think because the fed funds futures pits where they bet on the probability show pretty much no possibility of a rate hike for the rest of the year, what do you think . Do you think well see a rate hike in december . Well, we may, but the Financial Markets have been pretty good about this. Theres a strong sense that its very difficult for the fed to move certainly in front of brexit. Once again, when you look at actual numbers the fed is producing, they continue to lower their projection in terms of the federal funds rate. They lowered gdp number. They talk about inflation rising sometime in the future to 2 . But i think the Financial Markets did it well. The feds postponing raising rates, cautious on raising rates, its going to be a while before the fed does anything. Liz larry, i want to get to what keith just said about oil. Oil in the aftermarket is at the lows of the session. A significant move to the downside, a 3 1 2 week or possibly 4 week low. Were on track for the sixth losing session. We had it. The regular market already closed, but brent, which trades overseas down 9 over just the past five days. Whats going on here . You know whats really going on is risk aversion, its brexit. I do believe that people are overreacting to the risks and the consequences of brexit. Yes, theres a lot of unknowns but thats weighing on risk markets right now. The fundamentals for oil right now are pretty strong. Demand growth remains good, production declines in the u. S. Have slowed down. Canada is going to come backn line any time now. Im not saying oil should be 70 a barrel. I think 45 at the end of the year makes sense. I think well see a draw at the end of the year. Commodities, its about brexit and nothing else at this point. Liz okay, nothing else, and i have to ask you before you go john sylvia, if the u. K. Does vote to exit the eu, the European Union is our number one trading partner. Wont trigger a recession. The dollar will be stronger. Swiss frank will be stronger, the euro and the pound will be weaker and create uncertainty in terms of Economic Growth in europe and the u. S. Companies involved in europe, it will create more uncertainty in terms of their future earnings. Liz great to see all of you. John sylvia, keith bliss, larry shover. We hit a new session high, up 104 points for the Dow Jones Industrials. After the bell, it doesnt stop. Important earnings, connell and melissa have oracle and smith wesson. Those are coming out after the bell. Tune in to wall street week tomorrow night. The Housing Market is really looking a lot better. Anthony scaramucci and gary kaminsky. They wrap up the weeka 8 00 p. M. Eastern. Viacom up nearly 8 after splashing and burning nearly half of the board. Five members ousted by Sumner Redstone in just the last 11 minutes. Were watching viacom very closely. Closing bell 27 minute away. Spacex conducts another successful launch but could it stick its fourth straight landing . What happened, after this. The difference is between tears and jeers. And donald trump telling Republican Leadership to get on board the trump train or zip it . Two of our favorite former senators tell us if he can win without the gop elites. Evan bayh and George Lemieux up next. Dont go away, the dow is up 104 now. Nt have access to basic banking, but that is changing. At temenos, with the microsoft cloud, we can enable a banker to travel to the most remote locations with nothing but a phone and a tablet. Everywhere where theres a phone, you have a bank. Now a person is able to start a business, and employ somebody for the first time. The microsoft cloud helped us to bring banking to ten Million People in just two years. Its transforming our world. The verizon winwinwin event is back with the iphone and ipad. Win number one you get americas largest, most reliable, most consistently fast 4g lte network. Win number two . Well pay up to 650 when you switch and trade in your phone. And the third win . Buy an iphone on the best network. And well give you 300 off any ipad. Why settle . You can have it all at the winwinwin event. At Verizon Stores and vzw. Com. Reporter im lori rothman on the floor of the New York Stock Exchange with the tech minute. Fourth times not the charm for spacex, they attempted to bring falcon 9 rocket back to earth but did not stick another would have been historic landing on a drone ship in the middle of the atlantic ocean. The rocket was lost in the landing. Speaking of space, nasa recruiting teachers and explorers to go to mars, showing a series of retrorecruitment posters that show what humans need when they go to the planet in 2030. Thats the plan at least. The big theme is virtual reality, and developers try to make the Gaming Experience more real. Sony Just Announced the release of the play station vr platform in october. More countdown to the closing bell is straight ahead. Liz americans in swing states of colorado, florida, new hampshire, ohio and virginia woke up to what you saw on your screen. Brandnew ads focused on Hillary Clintons dedication to helping children, and there is also this, her campaign squashing any rumor of a Clintonbernie Sanders ticket, and she picked up the endorsement of labor giant aflcio. As democrats work to coalesce under Hillary Clinton, it has been exactly one year since we saw this. Donald trump coming down the escalator at trump tower to announce his run for the presidency and marks the occasion by warning the establishment that he got the nomination without them and he doesnt need any fickle friends. You know, the republicans, honestly, folks, our leaders have to get tougher. Too tough to do it alone, i think im going to be forced to. I think im going to be forced to. Our leaders have to get a lot tougher and be quiet, please be quiet, dont talk, please be quiet, just be quiet, to the leaders, because they have to get tougher, they have to get sharper, smarter. We have to have the republicans stick together or let me just do it by myself. Liz joining me now former republican senator from florida George Lemieux, he is an atlarge delegate for november. And joined by former democratic senator from indiana evan bayh, also a fox news contributor. Senator lemieux, let me extend our sympathies for your state and all its gone through. Thank you so much. Florida is strong, this is a difficult time for us, well rally but appreciate the sympathies of the people of this country and the world. Liz there is simpathy and anger, you just heard donald trump say to Establishment Republicans saying stay away, ive gotten this far without you, i dont need you, and you have come out with the Tampa Bay Times oped and a piece and you have very strong words for donald trump. You begin by saying youre our only hope from the gop to move on from the democratic leader, and you go onto say, if we can put up the comments. Yes. Have you heard from donald trump . Hes not responded, but, look, its a heartfelt, sincere words of advice. Republicans want to be behind donald trump. For him to say i dont need you anymore, im going to do this alone, thats a recipe for disaster. General elections are about building broad coalitions, everybody on your side, all the republicans, you need independents and democrats in order to win the Electoral College vote. We want donald trump to be successful but the attacks where he attacks a judge based upon heritage, attacks the press and makes fun of them. Makes insinuations that he doesnt need the rest of the party, thats not helpful. Focus attacks on Hillary Clinton, plenty of ammunition to do so and the republicans will rally around him. Liz governor bayh, the ammunition that senator lemieux of state g about has to do with and decision she made, everything from libya to supporting the Iranian Nuclear deal. What do you say that . She tends to be polling better than donald trump. A bloomberg poll shows more than 60 of all women say they would, quote, never vote for donald trump. Do the democrats rest on those laurels or look at this very warily . I think its a twostep process, liz, and let me say i think my friend george has given his candidate, mr. Trump, excellent advice. Successful politics is about the process of addition and bringing people rather than dividing and subtracting supporters. I think george has given him the playbook to follow. On our side of the aisle, its a twostep process. Number one, mr. Trump provided a lot of ammunition in terms of things that have alienated women, and latinos and africanamericans and a variety of people. No doubt that will be used. And sadly, liz, both candidates are unpopular. Mr. Trump more so. Mrs. Clinton needs to focus on economic progress for middleclass families who are struggling. How can you work hard, play by the rules and get ahead in this country. Thats what she needs to focus on. Mr. Trump may do enough of that on his own. Liz george . Evans right, about having a positive message for people of this country, and republicans and democrats, conservatives and liberals are mad as heck at washington, d. C. They dont think anything is getting done. They want to see action, thats what donald trump tapped into. In my view, tap into, that offer the solutions, stick to your guns, talk about Hillary Clintons problems and give a hopeful approach for the country, hes got a chance to win this thing. Liz speaking of problems, senator bayh, is Bernie Sanders a problem . As i understand it, he hasnt quite removed himself from the stage . Well, he hasnt. The effective nominating process is over. And following the terrible tragedy in orlando and other world Events People have moved on. I think senator sanders needs to make the case for the things he wants within the Democratic Party as much as he can now, with each passing days, ability to influence things will diminish. Hell not be a divisive figure in our party. He will endorse her or not vote. Hard to imagine too many of them voting for mr. Trump. Liz senator bayh, senator lemieux, thank you very much. Appreciate it. Thank you. Liz were looking at a market that is charging higher in the last couple of minutes. Even higher. When we started we were up 77. Were up 113 for the Dow Jones Industrials making it a more than 270point swing today. People who only watched this morning thought we were going to be down and the bears owned this one. The bulls are back. And Sumner Redstone sending viacom board packing. In just the last half hour, Charlie Gasparino broke it. First on the story. Out. The ceo dauman out because that man on the screen, Sumner Redstone says i dont want you there anymore. Its a drama you cant miss. The stock of viacom jumping right now. Charlie breaking more of it next on countdown. eeeeohmumohweh hush my darling. dont fear my darling. the lion sleeps tonight. hush my darling. man snoring dont fear my darling. the lion sleeps tonight. woman snoring take the roar out of snore. Yet another innovation only at a sleep number store. Premium like clockwork. Month after month. Year after year. Then one night, you hydroplane into a ditch. Yeah. Surprise. Your Insurance Company tells you to pay up again. Why pay for insurance if you have to pay even more for using it . If you have Liberty Mutual deductible fund™, you could pay no deductible at all. Sign up to immediately lower your deductible by 100. And keep lowering it 100 annually, until its gone. Then continue to earn that 100 every year. Theres no limit to how much you can earn and this savings applies to every vehicle on your policy. Call to learn more. Switch to Liberty Mutual and you could save up to 509. Call Liberty Mutual for a free quote today at see Car Insurance in a whole new light. Liberty mutual insurance. Liz we have breaking news. President obama is in the process of making a statement, but it is on tape. We dont have the tape just yet. He says after meeting families of the victims of the orlando shooting, quote, we are all going to have to Work Together to stop killers who want to terrorize us. Given the last two terror attacks that were homegrown, were going to have to do way more to prevent these events. Stop killers who want to terrorize us. President obama making those comment. When we get the tape we will certainly play it for you. We need to get to this, corporate chaos in the last 50 minutes, a revolving door became a boot as in get out at viacom. Chairman Sumner Redstone removed five Board Members including ceo Philippe Dauman, the stock immediately started jumping 6. 3 , went up as high as 7 . It is worth pointing out the news lifting time warner, and twentyfirst century fox, the competitors in the entertainment business, all these names are outpacing the market. Charlie gasparino with more details. Lets just stick with viacom. Im not sure why the other stocks are up, disarray at one company may mean good things for competitors, time warner and twentyfirst century fox. Whats interesting about the viacom deal, whats going to happen next . Weve been hearing from the people on the board who knew they were going to get whacked, Sumner Redstone and Shari Redstone wanted a change at viacom, wanted Philippe Dauman out, and getting rid of the Paramount Theater subsidiary, the Board Members say they could power grab by her and shes using her father who is mentally incompetent to make that move. When you see next, what you are likely to see next, this is what is the plan, well see if they go through with it is a lawsuit in joining this move which effectively removes five Board Members and Philippe Dauman who is ceo. He is in effect fired right now, would be in effect fired with the move. Theyre planning a lawsuit from what i understand, the lawsuit would be filed in delaware Chancery Court, is that the right name . The Corporate Court where a lot of the battles are fought out, and what theyre planning to do is enjoin, this get a judge to step in and say i cant do this until i figured out whos right . Is Sumner Redstone being incompetent not being able to make the move . Remember, he owns 80 of the company, viacom and cbs. Shari redstone owns a chunk of it as well. He owns most of it. What their point is, Shari Redstone in order to get rid of dauman who is the corporate rival and controlling the company, the lawsuit says they are influencing a man who is mentally incapacitated. Liz i can tell you investors are happy. Earlier this year, it was a 30 stock. Now nearly 45. The drama and trauma has come to a temporary head. I would say this. Okay, theres going to be more here, were going to see the lawsuit, if they file it. One of the Board Members who is close with dauman is fred salerno, hes out of the country right now. Dauman i believe is out of country. Legal team is locked and loaded, ready to file this thing in Chancery Court. That would be the next battle that puts a stay on this until they figure it out. Heres the question to investors. I agree, investors would like a new start, new ceo, not sell out paramount, is there anybody getting to root cause of the problem . The root cause of the problem is you have aging Media Properties that are out of date . Who watches mtv, its cord cutting, kids no longer have two cable subscriptions. Liz netflix and amazon come out with cooler shows. These are existential threats to viacom and does Shari Redstone have the answer . Philippe dauman, maybe hes good enough. Thats the question shari should be asking. Ive seen stocks trade up and down during the financial crisis. Longer term, youre an investor, thats what you got to ask yourself and i think near term, the question, is i know i got to wrap it up, near term will be the alleged lawsuit, do they file it, stop this and how long does it go on, the impasse . Liz Charlie Gasparino, thank you, the news is jumping 6 . Were coming right back with sean ohaira with the greatest etfs and the worst etfs, stay tuned. [woodworker] i live in the fine details. Thats why i run on quickbooks. I use the payments app to accept credit cards. And everything autosyncs. Those sales prove my sustainable designs are better for the environment and my bottom line. Thats how i own it. If the fed operates unchanged we have the uk and the e. U. Battling it out for the vote next week. The president of pacer financial managers half 1 billion but has chosen to put it in six etfs. Which is the best performer . P ghd is our global high dividend project. In the first segment you mentioned merck, one of our top holdings. High Free Cash Flow yield and high dividend, you cant continue to pay dividend unless you have free high cash flow yield so we have a portfolio of global stocks with high Free Cash Flow yield and high dividend of 4. 4 up 7. 5 since we launched a two months ago. Cheryl the top 3 holdings with the tao up 100 points. A bunch of trend following, a little bit of a lag are here, follows trends and we need direction so we are in the market, back in today. I would look for that one if looking for a downside protection. Cheryl the biggest names are apple, alphabet, microsoft. One year anniversary, already up half 1 billion. He was kind enough, a 1year anniversary of changing lineup. And guests like sean are up 200 . We thank sean and we thank you, you guys are doing great. And pacer etfs, high dividend etfs, the markets quite the rally, a 270 point swing. A 5day losing streak. There is the closing bell, after the bell. Connell a major come back this afternoon, we take that and the tune that liz talked about into the close, we have it all covered. I am Connell Mcshane filling in for david asman. Meliss this is after the bell, here is what we have this hour. President obama in orlando meeting with victims, incentives deadly terror attacks making remarks, bringing them to you. Donald Trumps Campaign is one year old today. Hillary clinton celeat