mean for your money and the future of where stocks go from here john najarian, this is a long way from the finish line but at least now we can begin the race. >> yeah. there were winners and losers right away, based on people's perception perhaps not full understanding, but perception one of those losers right away was toll brothers, tol people came scrambling in, they hit that stock more than the other home builders. all the home builders sagged a little on this about the deductibility of certain things but toll brothers because it's luxury homes, that's where i focused. they were actively buying puts in big numbers today. >> rich, you're number five on the latest list. so people are going to look to you now for advice on what you think all of this is going to mean for where the market goes from here. let's get some of it here. >> this is a powerful reform bill for investors because right now we can identify companies that are going to specifically benefit from a lower tax rate and from repatriation. repatriation could result in cap-exspendi spending. now we're looking at immediate deductibility of all that expensing. you have companies with money suspended overseas, could bring it back. dob additive to dividends. so i'd be looking at small cap stocks large companies like apple with a lot of money overseas. there's a tremendous opportunity from this. >> we're talking about a lot of the benefits that big business is going to get out of this. they have got a lot of selling to do on this plan a plan that our own larry kudlow called a very sloppy bill, doesn't do much for the individual it's clear they're focusing very heavy on corporations, with the corporate tax rate going to 20% along with some of the other st stimulative parts. >> the momentum to get something done is so high, including republicans who have got to get this done before elections happen to them, means we're going to get something if these are the indications of where we're going, i love small cap, midcap big time let's take a repatriation of a few billion dollars from apple they'll spread that around to all their manufacturers state side, they may invest more here. i predict next year the russell twejt 00 will outperform the s&p 500. >> do you really so s&p, let's call it 15% we've gotten year to date and here we are with the final two months of the year russell 2000, 10%. is that the way to play it sapperstein brings a view of the larger companies that are going to benefit small caps too >> i agree with rich and kevin on that. i think clearly when you look at the russell and you think about what this is going to do for the small business community, that's exactly where the benefit is going to be reached. so this is clearly to me a corporate tax bill i don't think you focus on the individual at all. it is the domestic oriented type of u.s. small companies that are going to do well listen, for a company like tesla, the removal of that electric vehicle tax, that's a big problem for them and obviously that's reflected in the tape today but i think also too we'll get into -- >> not to mention the company's own earnings. >> that's just kind of making it worse. but i also and we'll get into this further, but the appointment of the new fed chair, i think that plays into small caps as well and we'll talk about that in a second. lastly, the effective tax rate in the financial sector is incredibly high, so that's an area that you look at. >> to joe's point as well as yours, rich, about the deductibility or the repatriation, in this bill, judge, there is the nondeductibility over a certain level of corporate bond. so, in other words, i think it's 30% or something like that so, in other words, many of the folks of course have been borrowing against holdings either domestic or overseas to finance buybacks and so forth. you need that repatriation to come in here and fill that gap, because otherwise they're not going to be able to use a lot of the plays that they have done in the last few years when interest rates have been so low. >> so what do you think the temperature is of the market today? a somewhat muted reaction, as we said is there the possibility now that you get this sort of environment in the stock market until investors get a real opportunity to see what's real, what's not, the sausage-making process and what's going to be left on the kitchen floor and doesn't actually make it into the final pot? >> this is added stimulus on top of a growing economy with an accommodative fed, a low inflation background and it's an ideal environment to own stocks. it's been that way all year. it's not fully priced into the market. >> but you're assuming this has already been written into law. we just began what could be a very long race. >> that's fine we don't see it actually occurring and having effect until 2018 approval -- let's say legislative approval q1, maybe even q2. but the optionality of the passage of tax reform requires all investors to maintain full equity positions here. >> so base case for you is that it passes. >> yes. >> the only issue is the timing? >> and the effectiveness of these proposals. >> is everybody on that same page >> listen, i think they missed an opportunity here, and this is -- let's not take this politically, but you could have really added a stimulative effect to make this retroactive. you would have seen the rebate checks coming in q2 at a time you're trying to accelerate the growth you would have seen consumer spending accelerate consistent with that so that's a missed opportunity. >> as you've seen from the internals of what we know at this point is the ability to pay for this whole thing. >> it is >> under reconciliation. >> it's something that the treasury secretary in the past has talked about possibly making it retroactive and again, in the near term, i think that would have been a clear stimulative. >> we may hear from the treasury secretary himself, who's out in los angeles giving a speech today. if we do in fact hear from him, we'll be certain to bring that to you live. let's bring another guest into the conversation, michael farr joins us now from washington, d.c., with farr-miller in washington he's the ceo welcome back. >> thank you very much, scott. >> so give us your reaction now to what we just got from the gop, this tax plan, what you think it's ultimately going to mean for the market if it passes >> right well, you know, i think the discussion has been absolutely right on i think that the small caps and the domestic make so much sense, but i think this is good news and bad news if you harken back just one year when mr. trump was elected, we saw markets start to surge on anticipation of this stimulative agenda arguably fundamentals have caught up to support that, but now i think it's on the one hand great that some of the agenda is actually getting accomplished on capitol hill but it worries me a little bit because i would fully expect to see kind of a further surge in some of these stock prices in anticipation of more stimulus. so it's going to create a tougher job probably for the federal reserve, but we're adding stimulus at a time when perhaps we don't need a lot of it. >> can fundamentals then continue the heavy lift if in fact this is -- >> we hope so. >> if this is drawn out longer than we think? >> you know, at a certain pace, right? they can keep moving at a certain pace i suppose we have to exclude google and some others there because they have been on such an enormous tear but in general there's a certain steady pace and markets seem to be exceeding that pace and certainly may on this tax cut news. >> i don't hear anybody even the wee bit concerned about the market at all. and i'm wondering if that's concerning in and of itself, michael, that now you've got almost everybody jumping into the pool >> absolutely it is. when you have everybody, i mean the bullish percentage i think is as high as it's been since the last crash, 2007 or even 1987 so pretty much everybody is getting to be bullish now. and yet there's still as many people out there saying i wonder when it's going to go down, i wonder when this thing is going to crack but there are very few naysayers, very few bears. doug class calling for the market to go down and a few others, but there are not very many voices saying this thing is about to come down. >> the other big story we're waiting for is this afternoon jay powell expected to be named the next fed chair you know him quite well both professionally and socially. what kind of fed chief do you think he's going to be >> you know, jay is a wonderful guy and i've known him for years. jay is a very balanced guy he's a very thoughtful guy i love the idea that he's not a ph.d. economist, that he's not an academician, that he does have practical experience. i think to understand jay, you have to understand that he was jesuit trained he got to georgetown prep. he got his law degree from georgetown university. there's the old joke with the franciscan and the dominican and the jesuit who were all locked in a dungeon the franciscan prays for lights to come on and nothing happens the dominican gives an hour lecture and praise and nothing happens. the jesuit goes and changes the fuse and the lights come on. it's a telling joke because it goes to the pragmatism and thoughtfulness of the jesuits. what powell did in 2011 was come up with a day-by-day breakdown of costs for keeping the u.s. government open that then secretary geithner would have to actually meet in order to pay the government's bills so whenthings start flurrying, and at that point remember the debt rating was downgraded to a aa when thing -- when the fur starts flying, powell goes to the numbers. he's a pragmatist, he's thoughtful, he really doesn't have an ax to grind. i think he could be an excellent, outstanding -- i think the powell fed could be one of the most important and best we've seen in decades. >> and reason to be continued bullish. anybody see it differently this is somebody who's widely seen as continuing chair yellen's -- >> here's what's different about this guy if you want to sell deregulation, you have to have very good communication skills this guy, if you haven't listened to him, go online and listen to some of his speeches he has an innate ability to communicate numbers to a pragmatic place. i think he's going to sell deregulation for trump in a beautiful way that trump himself can't do this is a win for every investor and i hope he is the guy. >> you see the markets, what they're doing today. dow picking up a little bit, it's up 29 points. we did mention that some well-known speakers are out today talking about taxes from the administration mnuchin, the treasury secretary, one of them out on the west coast. also gary cohn today is at the national economic club in washington, d.c. he of course the head of the economic council john harwood listening into that john >> scott, gary cohn is just the first major administration person to speak after the rollout of the tax bill and he said this bill does meet the president's requirements for cutting business taxes, also delivering tax breaks to middle class families the president would sign it, though he acknowledges that there's going to be a negotiation with the senate. they are going on a separate track through regular order. gary cohn also said he does not and the administration does not believe that the plan would increase the deficit as much as the budget passed by both the house and the senate calls for, which is $1.5 trillion he said that they believe the growth produced by the plan will be higher than that. that's going to be a key point of argument. in fact jeff flake, the republican senator from arizona who criticized the president last week just came out and said we can't cut cut cut, we've got to pay attention to our $20 trillion debt. so there are already some signs of difficulty for this plan even as gary cohn said the white house is embracing it. >> as well as you know the hill, the marketing of this plan is really the next big step is how to sell it when clearly you have a heavy focus on the corporate tax cut. larry kudlow, as i mentioned at the top of our show, saying it does little for the individual "washington post" on the mortgage interest idea says that hurts the middle class "the new york times" today talking about the plan tilting towards business so how does all of that factor in the ability of the gop to sell this? >> well, there's some real trouble signs, scott the national federation of independent business, the small business lobby, has just come out against this bill saying that it doesn't do enough to help small business. you've got criticism from the home builders of course who don't like the limitation on the mortgage interest deduction as well as the way that the interaction with the standard deduction might cause fewer people to take that deduction. you've also had criticism from marco rubio in the senate who's leading a group of republican conservatives who want more relief for families through a larger child tax credit. i was talking a few moments ago to a republican tax analyst who said to pass this bill, the corporate rate and the pass-through rate are going to have to come up in order to finance a larger child tax credit to get some of those conservatives like marco rubio on so there's a lot of juggling that's going to have to take place, first of all, to get it through the house where you've got members from new york, new jersey, illinois, california, who want to take care of the state and local deduction or reduce the impact, and then you've also got these questions in the senate where of course they can only lose two members. >> john, thanks so much. john harwood at our bureau in d.c. michael farr, thanks to you as well thank you for joining us today. >> thank you very much. >> i know we'll see you soon. let's turn our attention to some of the stocks that are moving today and let's hit facebook absolutely blue earnings out of the water. >> yep. >> but also said they're going to spend a boatload on security moving forward and that's probably what has the stock down by a couple of percentage points, even though it was a great earnings report. >> there have been many comments in the past about facebook not concerned so much about wall street and concerned about the social element of the business model itself i think he's speaking to that and basically saying we had an issue surrounding this election and we're going to go out and we're going to spend and it could impact revenues by as much as 45% to 60%. the only thing that i question about that is why not go out and buy the security exposure. there's many security companies out there that could help facebook right now they certainly have a tremendous amount of cash to me, that would be the best way to go. >> either way, zuckerberg himself said that all of the spending will, quote, significantly impact our profitability. >> sandbagging he's sandbagging it's brilliant it's absolutely brilliant. >> you don't think there's any reason for investors to rethink where this company is valued relative to what its profitability could be moving forward when he says it's going to be impacted >> it's the best sandbagging i've ever seep of a tech company. it's brilliant blame it on the government for making you do this talk about hiring tens of thousands of people you don't actually have to hire because you can do most of the stuff with a.i. now and talk about how you're being socially conscious, you're getting your head squeezed right now in washington so this is a great comeback, and get everybody thinking you can't hit your numbers in the next quarter and then blow them away again. that's exactly what's going to happen i think this guy is way better than even i thought he was. >> so shareholders don't be deterred at all. $178, we're okay. >> this idea of hiring people to actually edit content that's coming at you by the billions of words a day is ridiculous. most of this content is about your dog, your cat, your kid, whatever once in a while just break out the russian sales. so us what the russians are actually buying online and you'll see that it's practically nothing, nothing this whole russia thing is so -- bleep. that's what i think. >> judge, i was in facebook into the earnings report. as you know from the disclosures and so forth i talked about it october 17th, they bought a ton, 20,000 of the 180 calls. stock popped all the way to 188. i didn't sell it there but i sold stock against my calls so i'm flat i still own the calls, it might be on my disclosure, but i sold stock against it on that pop now it's 178 i would probably look to reload right around 170, 172, something like that. but i still like it. i agree with kevin, i think this is one you hold for the long term. >> any metric that they reported and i don't have all of them in front of me, but ad revenue alone up 49% is eye-popping enough and gives you an idea of what the other significant metrics were. >> the only other places you get that are really google as far as -- >> they got the same issue are they going to hire 10,000 people to look at all that stuff? i don't think so. >> the other one that's interesting today, again, we've called it the best performing technology stock or internet stock that hardly anybody talks about. now of course they talk about it more and it's somewhat facetious, but alibaba. that stock up 26% in three months is this one of the ones that you really need to be in now >> i think the price action is a little -- a little concerning today. i think there's some disappointment somewhere in terms of maybe people came in very bullishi isishly positioned the stock is falling back below 185. i don't think you run for cover on this one because the earnings were fantastic i don't know, there's other places maybe i might want to be if we're going to see a little correction in these big tech names. >> other views >> accounting issues there's 20% that won't touch the stock. did you bring this into your portfolios >> no, we don't. there are plenty of other investors who do. >> if you want to own this space, you own amazon with american accounting. you don't have a chinese story, income statement, you have basic real accounting. here's a real fiduciary saying he wouldn't touch it with a stick. >> to the point about where else do you get 50% right here, like joe said, you get it right here at baba. they were looking for 49% growth in the full year now they're saying 49% to 53% so they raised that as well as the active transactors on their sight up 5%. >> he didn't say touch it with a stick, that's what you said. >> i said that for him that's basically what he's doing. he's poking at it but not buying it. >> i think it's important to own the disruptors, the f.a.n.g.s. that's the growth, that's the disruption occurring in the economy. if you don't own that, you'll wind up owning disrupted stocks like retailers or food chains. so it's very important to own them but i'd rather own the u.s.-based disruptors, all the f.a.n.g.s. >> that's a nice way of saying he's not touching it. >> the stock is also up 110% on the yore. >> can we throw one more into the mix, it's yelp it's upgraded to outperform today. price target goes to 55 from 46. maybe we should talk about it more than we do. >> probably should we've probably done a poor job of really -- >> no one owns it? >> no, that's why i say we've done a poor job. >> i've owned it but i've owned it for other pops. i'm not in it for the pop today, but, no, this has been below my radar, judge. >> there was a lot of skepticism in this stock over the last couple of years. >> it's up 42%. >> why is it even public why wasn't this thing just a feature on another big platform, a disruptor platform all it does is add vol to my portfolio. it's small, it's interesting and it should be acquired by somebody why it's public in the first place, i don't know. >> we're off to a didn't start here's what else is coming up on "the halftime report." it's apple time. the company reporting after the bill we'll get you ahead of what could be a real market mover. plus, our data partners at kensho show how the market reacts to major tax change announcements. all three major indices trade higher when bought the day of the event and sold a month later. "the halftime report" with scott wapner and the traders is back in two minutes is the monolithic view of emerging markets obsolete? at pgim, we see alpa in the trends, driving specific sectors of out performance. where a rising middle class powers a booming auto industry. a leap into the digital era draws youthful populations to mobile banking and e-commerce. trade and travel surge between emerging markets. everyday our 1,100 investment professionals around the world search out opportunities for alpha. partner with pgim, the global investment management businesses of prudential. throughout my career, i've been fortunate enough to travel to many interesting places. i've always wanted to create those experiences for others. with my advisor's help along the way, it's finally my turn to be the host. when you have the right financial advisor, life can be brilliant. ameriprise welcome back to "the halftime report. i'm dominic chu. robert mercer of renaissance technologies is acceptisteppings co-ceo of the company. bob mercer got a lot of notoriety for being a big supporter and financial backer of not only president donald trump but also former white house chief strategist and current breitbart news executive steve bannon as well as other conservative causes. now, mercer's daughter, rebecca, has been very closely associated with the trump campaign during that particular phase. now, mercer is a man that made his mark early in his career for being a pioneer in computer science. he's also been a part of renaissance since 1993 at this point. mercer has been widely considered one of the most influential wall street folks in the world of politics, especially when it comes to those issues that lean towards the conservative right so, scott, a very big personality in not only wall street but washington politics as well stepping down from his roles as renaissance co-ceo. back over to you. let's get back to stocks apple set to report earnings tonight after the bell this ahead of the iphone launch tomorrow let's trade it now pete najarian joining us better late than never welcome. >> thank you it's good to be here. >> we've talked taxes, the fed, facebook, now let's go apple. >> part of the apple quite frankly, scott, is part of the tax reform, part of repatriation and part of all of those things. in terms of what we're expecting, how do the service numbers look we know about the phone, the cost of this new phone and know about some of the demands that have been there and we keep hearing more and more bullish activity going on. i think katy is the one that i follow and she's been dead on. she's had targets, she's never waiv wavered. i own this stock -- >> so you bought calls this week. >> this week, yep. >> give me the scoop on the options activity coming into the numbers. >> they have been incredibly aggressive how about this about being aggressive what if i told you they're buying the december 200 calls. they bought 11,000 of them a couple days later 16,000 of them there is buying going on that's not necessarily earnings related, it's going into the holiday season obviously as you get into that latter part of december so i'm excited about that. that got me into the calls as well i trade around this all the time i hold on to the stock but trade the options around it. the volumes in apple have been absolutely astounding as well. >> wow, december, 200 calls. kevin o'leary. >> i'm doing -- at the ending of september the last week, i sold down half my apple position and kept the other half. but then i've been doing store checks i'm using south beach, the apple store down there where i live near. >> you're doing your own channel checks >> i'm just doing my own thing because i want to hear the preorders. doing my own thing off the friggin' charts. the woman i'm talking to there is on the phone all day long just on the x. i asked her, you've been working there for a while. have you ever seen anything like this she said never whatever numbers are out there, they're going to beat them that's an intuitive feel, and a single store check you can get a laptop for less. this is really interesting. >> fundamentally it's a cash loan evaluation story. you've got $50 billion in free cash flow. they're buying back 3.5% of their stock and it's an incredible name to own in your portfolio. for the ecosystem, the service business, i don't know where you can bet a better name in your portfolio. >> i want to go to eamon javers. the president talking about a company moving back to the united states from singapore. >> according to wire reports, the company is broadcom moving its headquarters from singapore to the united states now, the back story is the president had scheduled a jobs announcement for right now earlier in the day the white house staff had not been telling us any information about who was going to be in there, any of the specifics. we're just seeing the flashes of this event that's ongoing as we speak. we expect to see the tape come out in a few moments because reporters are in with the president right now taping this event. so we'll get the full readout and the details and what the president has to say about this. but wire services are reporting that broadcom limited is moving its headquarters from singapore to the united states and that's all the information that we have on this event. >> stock is popping, maybe not surprisingly, on the news. if we can take another look at the chart. it's moving towards 1.5% clearly investors like this move in what is a big day for the president. >> yeah, look, this is something the president had teased ahead to earlier in the week he mentioned that he would have an announcement coming of a big company coming back to the states wouldn't give us any detail what that was it looks like this might be the announcement he was referring to meanwhile, he'll have an announcement on his fed chair selection, so we've also got the tax bill being unveiled up on capitol hill the president just putting out a statement within the past few moments on the tax bill as well, applauding republican lawmakers on the hill for putting that bill out, but not saying specifically that he supports the details in this bill but acknowledging that lobbyists are going to fight over a lot of the deductions, special interests and taking a shot at the media, saying the media will misreport a number of the details in there. so the president applauding republican lawmakers for release the tax bill but not specifically saying that he endorses the bill. >> all right, thanks so much might as well trade apple suppliers while we're at it. perfect segue as we were talking about the expectations of apple's earnings after the bell tonight. pete. >> we've already heard so much from some of the semi names that have gone into this, right mi they have absolutely crushed earnings you look at the suppliers story and there's skyworks and everything they are so attached to apple, whether that's good or bad, that's up for everybody, but that's their revenue driver is apple. if you like apple and think that the suppliers are really going to absolutely get some sort of a pop, i think sirus logic would be the best one. >> broadcom itself is a clear b beneficiary of bowing in the apple supply channel and even to a certain extent a very boring slow moving stock like corning benefits providing the glass. >> wayfair, have you seen what that stock is doing today? it is tanking after reports of a wider-than-expected loss pete, we go back to you for a stock down almost 20%. >> it's one thing if your forecast is bad, scott, that's obviously what we usually are looking at but if you come out with a report in an earnings season where everybody is crushing it and wayfair is not, they're losing market share and that's why they're losing like they are. >> ralph lauren, kevin o'leary. >> two years agore fashionistas were saying this was a tired brand. looks like management is pulling it off this was on the brink of going away and now it's getting hot again. that's what's so risky about this brand stuff. >> so there are some retailers that you can own >> no, i'm not that excited. >> i had to make sure. >> let's not go crazy. >> square downgraded, up 200% over the last year. >> listen, scott does a great job always i just kind of disagree here with the downgrade on evaluation basis. let's wait for earnings. earnings are next wednesday. the company is hitting on all its marks. its long-term objectives, i know john has been a fan and owner of the stock at times of the rally that it's had. i want to wait for earnings. >> newell, doc, this is one of the worst days in years. >> what was it at 26%, 28% drop? >> 26% as we speak. >> yesterday, judge, in the mid -- just after we finished this show, somebody came scrambling in and bought the 41 puts does that surprise you about 8,000 of those for up to $1.50. as the stock tanks, those options explode. this is a tenfold return for the trader already congratulations. but i bet you get an investigation. >> you can't make money anymore! >> you can but he was clairvoyant. >> home builders on pace for their worst day in a year. we talked about some of this already, perhaps a fallout from the tax plan as it relates to the mortgage interest deduction. but we're talking masco here, rich you own it. >> i own it and we think they benefit from tax reform. 25% raises their earnings. they can repatriate money overseas and most importantly they're rebuilding in hurricane-stricken areas they have delta faucet, kraftmade cabinets it's like buying a home depot equivalent without the multiple. coming up, with jon and pete what the options market is telling them about a tech stock and media stock. let's show you the s&p sector check as well. real estate is leading the way today, s&p is down a couple of points let's go to caruso-cabre caruso-cabrera >> "power lunch" starts in 26 minutes. we've got a breakdown of the tax bill from all angles, the impact on your wallet, the investments and all the vested interests have their knives out. first up, the national association of home builders says this tax plan is going to cause a recession. we'll speak to the ceo. and jerome powell, jay to you, expected to be named the president's next fed chief what he means for your markets and the portfolio that you have. all that and much more on "power lunch. "the halftime report" is back right after this plan [vo] progress is an unstoppable force. the season of audi sales event is here. audi will cover your first month's lease payment on select models during the season of audi sales event. ♪ what we do every night is like something out of a strange dream. except that the next morning it all makes sense. to power global e-commerce fedex networks are massive, far-reaching and, yes... a little magical. fedex.com slash dream . hello, everyone, i'm sue herera here's what's happening at this hour in a televised speech, iran's ayatollah khamenei calling the u.s. iran's number one enemy saying his country will not stop developing its capabilities. president trump refused to certify iran's compliance with its nuclear deal. gavin williamson named toda as britain's new defense secretary. his predecessors resigned yesterday amid sexual harassment charges. williamson was promoted from being the conservative's chief whip. the military judge has begun deliberating the punishment for army sergeant bowe bergdahl for desertion. bergdahl could spend the rest of his life in prison or the judge could sentence him to no prison time, taking into consideration his five years in captivity. one of my favorite stories of the day, scientists have found a hidden chamber in egypt's great pyramid of giza. it is the first such discovery there since the 19th century a 30-yard void deep inside the pyramid it right up above the structure's grand gallery. scottie, back to you. >> all right, sue, thank you very much. welcome back to "the halftime. the brothers najarian at the telestrator for unusual activity and a trade update doc, you're up first what have you got? >> i'm going to give you a new one, judge discovery. dsca this one 17.85 as we speak they came scrambling in to buy upside calls stock is down $1.33. they come in to buy the april 20 calls. so obviously significantly upside because 17.30 they bought about 5,000 like that now it's up over 6500. i'll probably be in these at least a month. liked the upside and it was not an expensive shot either quick update, l brands, we talked about it yesterday, final trade. this one explodes to the upside. take a look at that, just straight up, moonshot right there. and it hasn't sold off it's still holding over 48 bucks a share. we cashed in on that one and i'm out of l brands now. i'm not going to use any of the victoria's secret stuff. >> pete? >> we're in the midst of all this earnings and tech names and baba obviously just recently so how about jd.com. scott, it's made a pretty significant fall down from where it was near the highs near that $49 number today somebody is walking in and buying the 41 calls here, the november 41s, so they are very very -- they come up in a couple of weeks nearly 7,000 when it first hit it was 5,000, 5,700. i like this name i like facebook, i like baba, i like these pull-backs but this is a name that's already pulled back and the upside is out in front of it. >> come on back over, because we're talking pizza. by the way, dauoc, you still ow us pizza. >> tomorrow. >> shares are domino's are higher on an upgrade the desk will debate that stock next in our call of the day. also, we're waiting to hear from president trump hoping to get his first comment since the leedite of that tax plan wer reas whin the last couple of hours for your heart... your joints... or your digestion... so why wouldn't you take something for the most important part of you... your brain. with an ingredient originally found in jellyfish, prevagen is now the number one selling brain health supplement in drug stores nationwide. prevagen. the name to remember. right in the heart of the was in his financial crisis, and saw his portfolio drop by double digits. it really scared him out of the markets. his advisor ran the numbers and showed that he wouldn't be able to retire until he was 68. the client realized, "i need to get back into the markets- i need to get back on track with my plan." the financial advisor was able to work with this client. he's now on track to retire when he's 65. having someone coach you through it is really the value of a financial advisor. all right, we're back. domino's pizza got upgraded to buy. they say the recent pullback was an overreaction. it's our call of the day let's trade it who wants to take this one yesterday the big story was papa john's blaming its poor results on the nfl and the controversy there. this analyst says domino's shares overreacted to that weak report by papa john's and contend the problems at papa john's are concept specific. ouch. >> isn't this space about frequency, loyalty and technology matters if you download these apps, for example, the domino's app, it builds your references so that when you order again, you just press it because i like thin crust with yadda yadda yadda on it. >> it's a good app. >> it is a good app. i don't go anywhere else now because i'm so lazy. so half an hour before the game starts, just go oink and the two pizzas come. >> is that all you eat >> that's how this is going to play out whoever gets the best interface. i eat pizza and watch football, what can i say this is my point, the digitalization of this business matters and you'll see results vary based on how good they are digitizing the loyalty. >> domino's and papa john's tracked each other, each down 11%. domino's isn't down quite as much as pzza is. in their upgrade they raise the price target to 2.30. >> go back a couple of years this is a company as kevin correctly states that is clearly including technology in the customer satisfaction process, and they're expanding it outside the u.s. they're going international with it it's a name that i was in for much of 2016 this is right about where i got out of it, so this level looks attractive to me i do think they're going to benefit here from the nfl sponsorship and the troubles that papa john's was talking about yesterday. >> they like the fundamental trends, think they will remain solid. we were talking earlier about the gop tax plan unveiled 90 minutes ago. here's the president in his first comments since that moment >> we just had a big meeting on daca with some of the senators, and we have great things to say about that you'll be hearing about that very soon. and the big thing of course is tax cuts and jobs. that's happening very rapidly. it's been met with really a great response but i want to thank everybody for this great day it's a great day for the american worker in particular. over the past ten months, we've witnessed something remarkable happening to our country have you all noticed a lot of change. a lot of difference, right, kevin, would you say >> big difference. >> we're just hitting another record right now on the stock market we've hit, i guess, close to 60 records on the stock market since november the 8th, that very big day the stock market is at an all-time high. unemployment is at its lowest level in almost 17 years we now have had two straight quarters of 3% or more economic growth for those of you that don't understand that, this is a tremendous increase over where it was and we're going higher. jobs have been offshored to so many countries that we're now coming back and now those jobs and those companies are coming back to our great american home. i want to thank the majority leader, kevin mccarthy, for joining us this afternoon. he has been so terrific many so many ways. i will tell you he's working very hard on tax cuts. in fact so hard that i'm surprised to see you here. this must be truly a great company, which it is you'll be hearing in two seconds. you've been pretty busy today. >> i just left the press conference. >> you did, and that was a good press conference too we're thrilled to welcome broadcom limited and its ceo to the white house to announce that broadcom limited is moving its headquarters from singapore back to the united states so i want to thank you very much >> thank you, mr. president. >> you're doing something great, i appreciate it. broadcom limited is a 100 -- fortune 100 company. one of the really great, great companies. they manufacture technology and parts. they employ over 7,500 american workers in many states across our country. we're looking forward to seeing that number grow very substantially, which is now anticipated to do. their move back to the united states and to the united states is something very, very special and very important you've been seeing this happen with numerous companies and at a minimum expansions and sometimes plants with this commitment, more than $20 billion in annual revenue will come back to our cities, towns and the american workers today we're joined by some of thein kr-- the incredible men a women from their plant in the state of pennsylvania. i love pennsylvania very much. i love pennsylvania. went to school in pennsylvania you're skilled in your craft, you take pride in your job and because of you, our nation's trademark made in the usa is respected all over the world once again and we're telling people, made in the usa is a big deal now we're writtening bringing it bak when i was growing up, when i was a young boy, you'd say made in the usa and it meant something. it means something again my administration is working every day to make the united states the most attractive place in the world to do business so more and more companies like broadcom come back to our shores, grow their businesses and create more and more american jobs. you see it happening on a daily basis. that's why i've already slashed more unnecessary job-killing regulations than any president in history that includes their their entir. i've only been here for about ten months we're not finished yet believe me we're not even close that's why we're working to give the american people a giant tax cut for christmas. we're giving them a big, beautiful christmas present in the form of a tremendous tax cut. it will be the biggest cut in the history of our country it will also be tax reform and it will create jobs. today the house ways and means committee unveiled a historic tax reform bill that will create tremendous prosperity for our nation we will provide a massive tax cut for american families. we will make the tax code simpler and fair we will restore our competitive edge by reducing business tax for the first time in more than 30 years we will bring back trillions and trillions of dollars that's now parked overseas so that money can be put to work rebuilding the united states of america as opposed to rebuilding other parts of the world i want to thank broadcom ceo for joining us today he's a highly, high he respected man. great, great executive when he talk me about this move, he said we want to be an american company we're hearing all of it more and more people are coming in at levels you'll be seeing over the next short prosecuteriod of time. you're seeing it in so many ways you'll look at the enthusiasm index which is the highest they've been we're hearing it from everything from tax reform which is really spearheading it and i think it's really a feeling for a country that people haven't had in a long time. they see what's going on with regulation they see the tax move an that's going to happen. i believe we'll have it done before christmas i consider that to be one of the great christmas presents not just the reform and not just the tax cuts but we will be creating jobs like you have rarely seen in this country. we never get tired of that pledge because we never tire of returning wealth to our country. jobs to our citizens and honor to our great american workers. i honor our orkers these are incredible people. they've worked hard. you go back 20 years and they haven't had the salary increase. now oyou see wages starting to rise on behalf of not only the folks of pennsylvania behind you but all of united states, i want to thank you for much for choosing us appreciate it. >> thank you, mr. president. thank you. thank you for having us here truly an honor, a rare honor let me say my mother never imagined that one day her son will be here in the oval office in the white house standing beside the president of the united states. thank you. >> and my mother too >> back in 1971, i was just an 18-year-old skinny kid growing up in malaysia, but i had just received an opportunity to enroll in the best engineering school in america. in fact, in the world, m.i.t my parents could not have ever thought to send me to college much less m.i.t. it's rather amazing, it's really amazing to me even today that this great american educational institution took a chance on me, sight unseen gave me a scholarship to pursue the american dream my appearance here today in large part has been inspired by my desire to give back to this country, which i have received so much from i run broadcom today and broadcom is embodiment of the legacy of innovation of three great american technology leaders. hewlett packard and broadcom corporation. when the conditions in this country made it harder for companies to compete in global markets. the intellectual properties of these leading companies globalized and moved offshore. i am american as are nearly all my direct managers, my board members and over 90% of the my shareholders today, we are announcing that we're making america home again. [ applause ] thank you. our commitment to redomicile into the united states is a huge reaffirmation to our shareholders, to the 7500 employees we have across united states in america today. that america is once again the best place to lead a business with a global footprint. thanks to you, mr. president business conditions have improved the global playing field and allow us to compete effectively in worldwide markets our mooif into the u.s. will bringing $20 billion of annual revenues into this country each year we will invest over $3 billion a year in research and engineering and another $6 billion a year in manufacturing. creating high paying tech jobs similar to the ones held today by my co-workers behind me who have made the trip down from pennsylvania to be with us here today. again, thank you i look forward to working to create and achieve the american dream for everyone thank you. [ applause ] >> thank you, everybody. >> the president of the united states the ceo of broadcom making official what was reported a little while ago that broadcom will move its headquarters back to the united states from singapo singapore. the ceo saying it was a desire to give back to this country said his mother never would have envisioned her son standing in the oval office to where the president jumped in said mine too. was quite a light moment there making america home again is what the broadcom ceo said we heard from the president for the first time, publicly, at least, since the tax cutand jobs act was released early today. the president saying it's a great day for the american worker cited what he called 60 records in the stock market since his election eamon, the president will leave for asia tomorrow on what he feels is a high note given this announcement from broadcom and the roll out of the tax plan. >> reporter: that's right. the president loves these moments. this is central to his core of his appeal out on the campaign trial. it gives an opportunity to show he's delivering for his voters and especially on a day they are rolling out the tax bill the president will use this as an argument and ammunition that his policies are making the united states business friendly again. that's also central to his appeal out on the campaign trail. >> thanks for wrapping that up power hundred lunch begins now weav're counting down on president trump's decision on who he will choose to be the next head of the federal reserve. we have full team coverage every base, every angle will get reaction from d.c. look at what impact it could have on housing the economy. the wealthy, small businesses and your investments >> thanks. stocks holding steady following the release of that tax plan the dow shifting between some gains and losses nasdaq down by the

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