Transcripts For FBC FBN AM 20240713 : comparemela.com

FBC FBN AM July 13, 2024

Lauren s and why you may soon say goodbye to your bingewatching days. Oh, no. It is tuesday, october 29th and fbn a. M. Starts right now. The city never sleeps tonight. Its time to begin, isnt it. I get a little bit sick of the day. Ill admit im just the same as i was. Now, dont you understand. Lauren welcome to fbn a. M. Good morning to you at home. Thanks for joining us. Im lauren simonetti. Cheryl good morning, im cheryl casone. Lauren lets take a look at you how your money is moving. Futures are down a bit right now in the premarket. The s p at a record high at the close yesterday. Nasdaq just 4 points away and the nasdaq is up 7 this morning. Cheryl investors in asia reacting to the s p record, as well as positive comments on trade from the be president. As you can see, the nikkei can did gain some ground. At the end of the session for the hang seng, the kospi, they all ended up in the red. Lauren a lot of red on the screen in europe as well. Boris johnson going to try to push through his election. The ftse is down a third of 1 . Cheryl the top story this morning, investors may not be hitting search for shares of google parent alphabet today. The Company Posted mixed Third Quarter results after the bell. Shares fell nearly 1 andahalf percent in extended trading after the earnings tumbled 23 from a year ago. That missed the streets estimate. The company spent more money on research and development. Alphabet is reportedly eyeing fit bit. The they made an offer to acquire the fitness tracking company. Shares of fit bit soared on that news yesterday. Lauren take a look at this. Shares of beyond meat are plunging right now in the premarket. The Company Reported its first profit since it went public five months ago. Stock down 9 now. Beyond meat earned six cents a share. Revenue came in nearly 92 million. That topped expectations. But the stock is under pressure following the expiration of the share lockup period. That allows the companys executives and private investors to l sell shares they bought before the ipo at 25 back in may. Cheryl well have more on that later on. Keep an eye on shares of boeing today. The ceo going to be in the hot seat on capitol hill. He faces twos days of hearings following two deadly crashes of the 737 max. He is expected to say that his company made mistakes and, quote, got some things wrong. We should add that today marks the one Year Anniversary of the crash in indonesia, the second crash happened in ethiopia in march. Both planes went down after faulty sensors forced a malfunction in the Flight Control system. Boeing faces an investigation by congress and a criminal inquiry by the Justice Department as well as numerous lawsuits. Lauren. Lauren the Trump Administration is considering whether to extend tariff exemptions on 34 billion of chinese goods set to expire in december. The products include televisions, cell phones and coffee machines. The u. S. Trade Representatives Office says it will take comments on the proposed extension next month. Cheryl golf carts even made the list. The move comes as washington and beijing are trying to hammer out a phase one trade deal. We have Edward Lawrence at the white house with the latest. Reporter President Trump saying that the phase one china deal is ahead of schedule. He says that he expects to sign it at the apac conference in about two weeks. Just listen to what the president had to say here. We are looking probably to be ahead of of schedule to sign a h very big portion of the chia deal and well call it phase one but its a very big portion. That would take care of the farmers, it would the take care of some of the other things. It will also take care of a lot of the banking needs. So were about i would say a little bit ahead of schedule, maybe a lot ahead of schedule. Probably will sign it i imagine the meeting is scheduled for chile. Reporter the phase one deal will include the entire section protecting the intellectual property of companies. It also opens the Chinese Market to greater access for financialer services. The chinese will then buy more agriculture from u. S. Farmers. President trump says 50 billion worth of agriculture. The chinese have not confirmed that number. The Chinese Trade Team asked the u. S. Not to impose those tariffs on december 15th. The last round of tariffs. So far, the tariffs are scheduled to go into effect. Well have to see what happens after the agreement is actually signed. And on currency, the Treasury Department is waiting for some documents from chinas central bank. They dont want to be labeled a currency manipulator, they currently are. The Foreign Exchange report is delayed. Thats the report that that shows what countries are finance manipulators. Cheryl as the negotiation was china continue, a Bipartisan Group of senators including Republican Marco Rubio and democrat Kirsten Gillibrand plan to introduce legislation that would block u. S. Pension funds from i objec investing in chine. Senator rubio issued a statement saying it is clear that ford will not act in the best interest of the united states, he reverse this misguided decision and protect our National Interest as well as those who serve it. Lauren the s p 500 hit a record high. President trump touted the stock market gains and 401k growth under his administration, a this at a speech that he gave to the association of chiefs of Police Officer in chicago. Does anybody have a 401k that is up . Raise your hands. Does anybody have a 401k thats up . Everybody. Lauren according to fidelity investments, the average 401k balance increased in the Second Quarter and the number of people with 1 million or more in their account jumped to a record of 196,000 americans. Cheryl the president got a roar of applause yesterday on that one. The parents of murdered isiss hostage Kayla Mueller opened up exclusively to fox news in the wake of isis leader Abu Bakr Albaghdadis death. Lauren Griff Jenkins live in the natiothe Nations Capital ts morning with the reaction after she was honored by President Trump. Reporter powerful and grateful words from kaylas parents, having endured the worst nightmare, finally getting some closure with the hope that more information will come. It woke me up. I went outside and saw the sky lit up, bright red. Reporter that clearly not comments from Kayla Muellers parents. But let me tell you that pentagon Officials Say new information was uncovered from electronic data, two documents and video recorded during the raid. Mark esper says this mission is not over. Despite baghdadis death, the security situation in syria remains complex. Our mission in syria today remains the same as it was when we first began operations in 2014, to enable the enduring he defeat of isis. Reporter were learning more details about the raid. The president releasing this photo of the hero dog that helped killed the worlds most wanted terrorist. He was slightly wounded but is recovering. Joe biden writing, quote, im glad President Trump ordered the mission but as more details of the raid emerge, its clear this victory was not due to Donald Trumps leadership. It happened despite his inept at ineptitude as commander in chief chief. Were learning there wasnt just one Successful Operation but u. S. Forces also killed baghdadis number two who was isis spokesperson and a potential successor. Lauren thank you very much. Amazon is bruising over its loss to microsoft for that lucrative 10 billion pentagon contract. Cheryl Tracee Carrasco has the details. Amazon not going quietly. Tracee reports say amazon will likely challenge the pentagons decision, believing politics played a role. President trump has been critical of jeff bezos and an upcoming book claims the president directed james mattis to go against amazon. Battle lines are being drawn in the fight over californias auto emissions standard. Several major automakers including gm, toyota and Fiat Chrysler are coming out in support of the Trump Administrations rollback effort. The decision pits them against ford, honda and volkswagen which agreed to l follow californias stricter standards. Environmental groups are suing the Trump Administration, revoking a federal waiver, allowing california to set its own emissions standards. Uber is introducing uber money, a service that includes a digital wallet and upgraded debit and credit cards. It will allow drivers to get paid after each ride and the company says it could eventually offer Bank Accounts to customers. And apple unveiling air pods pro. The upgraded version of its wireless earphones come with Noise Cancellation and are water and sweat resistant. Theyre priced at 249, 100 more than the current version. Lauren im fine with my current version. Theyre great. If i could only find the left one. Tracee, good luck with that. Pay attention to the nasdaq this morning, up five straight days, 4 points shy of record territory. Dow is down 35 in the premarket. The s p 500 hitting a record high and a possible trade truce is exciting investors but will jay powell and the fed rain on the president s parade . And cheryl, you remember this. Photo of a deer with a cheryl one of my favorites. Lauren with a pumpkin stuck on its head. Theres a new critter getting into the halloween spirit. Keep it here on fbn a. M. Crazy life. These crazy times. Driverless cars, or trips to mars. No commission. Delivery drones, or the latest phones. No commission. No matter what you trade, at fidelity youll pay no commission for online u. S. Equity trades. Lauren alphabets latest quarterly profit missed the streets forecast as the google unit faces a federal antitrust investigation. Canal alphabet continue to gro. Francis newton stacy is here. Good morning, nice to see you. Nice to see you. Lauren the ceo of google said that google evolved from a company that gets answer toss a company that helps you get things done. That is enough to satisfy investors . Because shares are taking a beating today. Yeah, so there are a number of factors happening in the Third Quarter earnings. Right personally, i thought the earnings in the quarter were going to be weaker than they are. We have pressure coming up against maybe a late cycle. How much is desel decelerating l growth affecting prices . Yesterday, google was up like crazy. Also, coming up against alltime highs. We have questions around china trade. We have questions around the fed. So if google can hold 12, 65, i think its going to be in great shape and investors will stay engaged of. Theres a trend moving you away from having just the tech stocks carry the market higher and values seen an uptick lately. Lauren you did bring up china trade. Im curious, all the concern about the tariffs affecting corporations and customers. 40 of the market, they reported earnings and 60 have beaten when it comes to sales, their revenue, their overall topline growth. Are the tariffs having an impact . Well, its so hard to predict what the lag is going to be. You implement these changes in the economic system, whether its a rate cut or Balance Sheet adjustments or tariffs or these things, its just so hard to he predict when its actually going to hit. And i think its been surprising, as you say, they havent seemed to taken effect. 60 of the companies that have reported so far have guided lower for the fourth quarter. So is that a tariffs issue . Its hard to say. Is it decelerating Global Growth . The other thing, are we going to have a breakout with alltime highs across the board or do we see Economic Data coming in like jobs numbers on friday, is that going to make a difference and how strong is the Economic Data against the backdrop of the alltime highs. Lauren particularly manufacturing and thats got to affect General Motors when they report their you numbers today. Absolutely. Im excited about general mow tops. But i motors lauren excited . Im looking at charts but im not predicting, im not making any calls about what im seeing. Lauren whats exciting about the charts . Well, with gm, particularly, i think that if gm holds 37, 50, then they could be potentially off to the races. Theyve got to put that in the rear view mirror. They cant be affected by the r other news, manufacturing, trade, the subprime auto loan marcmarket. If it trades above 37, 50, i think gm will continue moving higher. Lauren were about a buck away now. Thank you for joining us. Cheryl hong kong officials barred joshua wong from running in local elections scheduled for next month. Pro democracy candidates had looked poised to gain ground there. The Hong Kong Government justified its actions based on the belief that wong is advocating for hong kongs full independence from china. The creators of south park and viacom reportedly expect to share about 500 million by selling the streaming rights to the show l. Bloomburg says as many as half a Dozen Companies are in a bidding war to get south park and a deal could be secured by the end of this year. Well have much more on the streaming wars coming up later on in the show. And sticking with entertainment, David Benioff and benny weiss are leaving the galaxy to be closer to home. They are no longer working on a planned star wars trilogy, in order to focus on other projects. They signed a deal with netflix to produce exclusive content. No word on if disney plans to go forward with the trilogy. The last of the star wars films is coming out this year, so gives us a break. Lauren all right. It could save the box office, believe it or not. Up next, a race against time as California Wildfires just rage out of control. My god. No way. This is right behind my house. Is that a house burning there . Lauren were live on the ground where fire officials are warning with Hurricane Force winds, there is truly no end in sight. And popeyes hyping up the comeback of the spicey chicken sandwich. The big dig popeyes took out of its competition. Well be right back. Sick amount of chicken. Sick amount of chicken. And watch them feathers fly what i love most about being a scientist at 3m is that im part of a community of problem solvers. We make ideas grow. From an everyday solution. To one that can take on a bigger challenge. From packaging tape. To tape that can bond materials to buildings. And planes. One idea can unlock a breadth of solutions. At 3m, we are solving problems that improve lives. One idea can unlock wheeveryone is different. Ta, which is why Xfinity Mobile is a different kind of Wireless Network that lets you design your own data. Choose unlimited, shared data, or mix lines of each and switch any line, anytime. Giving you more choice and control compared to other top wireless carriers. Save up to 400 a year when you switch. Plus, get 50 off when you buy any new lg phone. Xfinity mobile. Click, call or visit a store today. Lauren thousands of people forced to flee are from their homes as more than a dozen wildfires rage across california, already causing more than 25 billion in damage. Kincaid fire swelling to twice the size of San Francisco. Cheryl Claudia Cowen joins us live from santa rosa as whipping winds can make conditions in the wine country worse today. Claudia, good morning. Reporter good morning to you, cheryl and lauren. Progress has been made, i can give you that bit of good news. Some 4,000 firefighters now have the kincaid fire 15 contained and here at the command center they are preparing for another allyoout assault on the front lines before the fierce, stubborn winds kick up again here tonight. The diablo winds as theyre known causing so much devastation here on sunday. This cell phone video shot by a passenger driving over a bridge not seeing any fire until flames almost engulfed his car. The driver barely made a uturn in time. A surveillance camera captured this fire storm that wiped ott a ranch and animal sanctuary. The animals were safely evacuated but now need new homes. The owner is one of the many fire victims setting up gofundme campaigns. In Southern California, 1100 firefighters remain on the 600acre gety fire which broke out early yesterday morning and quickly he destroyed eight homes but Murray Horton says his house is safe. I smelled smoke. It woke me up. I went outside and i saw the whole sky lit up bright red. Reporter among those evacuated, lakers star lebron james and former governor arnold shareschwartznegger who said firefighters are the true heroes. The kincaid fire has continued to grow. Its now at 74,000 acres, 57 homes he destroyed and more than 150,000 people remain evacuated. With another windstorm arriving here tonight at in Southern California tomorrow, this is a critical day for firefighters to boost those containment numbers and get the upper hand. Fortunate

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