Transcripts For FBC The Claman Countdown 20240712 : comparem

Higher in early drtrading after yesterdays 700 plus point loss on the dow but then the dow started pulling back at one of the nations largest states officially hit the pause button on its reopening. It is texas. Texas now stuck at phase three statewide. They are banning elective surgeries in four counties including dallas, as austin area hospitals warn they could reach capacity by the middle of july. The rapidly spreading virus is not stopped in its tracks. Coming up, ceo of classic stayathome stock identity and password management star okta. The ceo is here with a covid19 shocker. What many people are still not willing to do even in the face of new outbreaks. But the pandemic is actually providing a boost to polaris. They are facing a supply crunch as demand for the Great Outdoors kicks into high gear. The ceo of the atv giant is here on what hes doing to keep his recreational vehicle giant from going offroad. From too much demand. Kind of a good problem to have. And brady versus portnoy. The fivetime super bowl ring wearer and blogging rock star going headtohead on instagram but whose side is barstool sports ceo on . The lead grownup in the room of barstool sports is here live on that in just a few minutes. Plus the new app for betting that barstool was getting ready to launch. Plus, back in the covid bulls eye. You have the mouse house there. The ev monster truck battle heating up and charlie is about to break it on a big story. Less than an hour to the closing bell, lets start the claman countdown. Liz breaking news. Apple has Just Announced that beginning tomorrow, it is closing 14 stores in florida in locations including miami and boca raton. This as covid19 cases are starting to rise at an alarming rate. Now, this is separate from the seven stores in texas that the iphone giant said it would close, and that was announced yesterday. So we are watching this as we speak. It is a work in progress. Things are developing rather quickly in this final hour of trade for many different companies. Apples stock is still up about. 33 , 361 a share. Lets get to the pop and drop stocks right now. Did electric vehicles just get a major signal from the Trump Administration . Maybe a green light . To warren, ohio and the former gm lordstown factory where Vice President mike pence just finished touring the Lordstown Motors plant where the electric Truck Company which is, by the way, 10 owned by workhorse, just did a big unveil of its new endurance electric pickup. Workhorse stock jumping as much as 14 earlier, has reversed. Its down 1. 5 . But the excitement comes on the possibility that the administration is finally starting to cozy up to electric vehicles and the United States leadership position in that area. Workhorse has been on a tear, though, jumping 372 quarter to date. To the rivals, tesla which traded this morning as low as about 939 a share, had been lower. It is now up by 1. 5 to 975. 99. Tesla slated of course to Start Building its supercool cybertruck in 2021. Gm is hoping to build its First Electric pickup and the hummer which was, yeah, the all electric hummer was actually delayed. Nikola is trailing the pack with its electric truck called the badger slated for production by 2022. Gm is down 1. 33 . Nikola is down just under 1 . Okay. To the mouse house. It is slipping on its announcement it will delay the reopening of disneyland. The two anaheim, california parks that make up disneyland were originally slated to blast back open their gates july 17th. But now we dont have a date for when they are pushing it out to, because they will not be issued more guidelines by the state of california until after the july fourth holiday. Disney is down 1. 75 . While the park opening has been postponed, the Downtown Disney district is still expected to open july 9th. Rival theme park stocks from comcast which is down about. 33 to sea world, six flags, these are names we are watching very closely because we are getting different dates on them. The dates are suddenly starting to move on when they will reopen. Sea world down 2. 5 . Six flags down. 5 . By the way, Disneyland Reopening is not the only disney property in jeopardy. The july 24th release date of its live action movie mulan may be pushed back again, as covid19 cases surge across the multiple states in the u. S. Get to mortgage rates. They are still outrageously low, still near record lows, but thats not enough to help kb homes. Its down 12 , nearly 13 right now. They had their homes falling double digits for sale. They are seeing sales orders plummet 57 in fiscal Second Quarter which Credit Suisse called quote, pretty shocking. The home builder blamed covid19 for delays during the quarter and the increase in purchase cancellations. Kb homes now stands just spanning that 29 a share level. All right. Look at the dow. Its now back up 156 points. Now, even as a tornado of bad pandemic news swirls around the u. S. , the economic skies got just a bit clearer after key data reveals today, we have durable goods orders that came out this morning. This is good. They shot up an unexpected 15. 8 in the month of may. Boy, that was way better than the expectation of about 9 . When you look at Something Like that, you say okay, these are big ticket, more expensive items that last two to three plus years, hopefully. Then weve got continuing jobless claims. Continuing claims finally dropped under the 20 million mark. So down 767,000. Continuing claims are not the new people jumping on the unemployment lines, its the ones who are still there and havent been hired back. Then the final print for First Quarter gdp, while still showing shrinkage of 5 , it did not worsen. It remained unchanged from the previous level, 5 contraction. Then you get Goldman Sachss head honcho David Solomon, who said yesterday at an investor conference, the markets are overly bullish on less worse data and they are out of touch with the true reality of the longterm coronavirus effects that are negative. Whos right, the markets or solomon . To our floor show traders. Guys, which side are you taking . Let me ask sarge first. If you are taking one side, which sectors or stocks support your pick . As usual, i can give you an answer but it might be a little lengthy. All right . Solomon is wrong about a vshaped economic recovery. We see this in the labor markets. They are improving but not nearly fast enough. We are at the point in the rebound where we can go no further without suddenly better covid related statistics. The statistics related to covid are getting worse. Unfortunately, premature reopenings, the protests, all that that shook the nation, also brought the virus back in the door. Now, equities, are they ahead of the economy, yes. Is this justified . Im not sure. They might be. This is the byproduct of supply and demand after funneling all of our capital flows we look at through the whole screening process, that renders Everything Else less attractive. Stocks have to be expensive. There has been a reevaluation. Earnings, hes wrong about earnings because nobody is looking at q2 or q3. We are looking at 2021 and 2022. All right . Folks are going to continue to keep working from home. Maybe by choice, maybe not by choice. They are not going on vacation this year. They are going to cook at home regardless. All right. So you want the stocks, you still want the work from home stocks, adobe, salesforce, microsoft. You have the guy from okta on today so we will go with okta. Ecommerce, you still amazon, walmart, conagra, kraft heinz, pepsi, mccormick. You want your treatment plays, moderna, regeneron. You also want to keep your cash, you want to maintain your flexibility even if it hurts your top line performance. Nothing beats flexibility in these markets. Liz but sarge, yeah, i love this. Sarge says you want this, you want that, gives this whole Shopping List and says keep some cash, too. I need to spend the cash on all the stocks. Scott, please explain to me because im looking at what David Solomon said and saying you know, they can kind of both be right. The markets can be right and David Solomon can be correct. Theres no question about that. Sarge makes some great, great points here. The market is ahead of the economy. The market is a leading indicator in most cases. But one thing that i would point out to you and to everybody else is a lot of this right now is what people call the tina trade. There is no alternative. So if people have cash and are putting it to work somewhere, where are they going to put it, into the bond market and get half a percent, whatever it is, for ten years . No. They are picking and choosing in the equity space which happens to be the big cap techs right now leading, and i do think that to break out of the range were in, to break out to new highs, we are going to have to get some other sectors to go along for the ride. That doesnt mean, in my opinion, there will be a sector rotation. I do believe that the big techs will still lead this rally and one of the stocks that i love that actually goldman just downgraded last week is slack. This is a company that even before the pandemic hit was on its way. You know, it had ipoed, the stock got hit like many ipos happen and then they started picking up clientele. This thing was on a roll even prior to the lockdown. Goldman does point out there is some concern that microsofts product could offset this. But i think slack is one that you have to have, because not only is it on its own merits, this could eventually be a takeout play from microsoft. You know, theres one other thing liz i knew sarge was going to do that. I knew you were going to do something. We are jampacked because scott just brought up slack. Weve got okta coming up, the ceo. Stay tuned for that. Sarge, scott, thank you so much for your perspective. I have been doing this too long. 49 minutes before the closing bell rings. Macys is dropping nearly 5 after announcing it will be laying off some 3900 workers in an effort to cut even more costs. The retail giant said the cuts were part of a restructuring that it hopes will save 365 million this year and 630 million total annually. Macys down 60 this year, down another 5. 25 right now. From one of the top work from home allstar stocks, we have to mention okta. It skyrocketed 65 so far this quarter alone. Its just come out with a new covid19 survey of its clients that has some rather disturbing and worrisome results. What that survey says and whats next for okta if and when more people really start heading back to work. What about this latest pause button from texas thats breaking in just the last couple of hours . Weve got the ceo of okta coming up. We could never do what they do. But what we can do it be a partner that never quits. Verizon is the most Reliable Network in america. Built for interoperability and puts First Responders first, giving their calls priority, 24 7. We do what we do best so they can too. Liz so, you know, we mentioned this already but it is big news. Just as Texas Governor greg abbott announced in the last few hours that he has frozen his states reopening due to an alarming spike in coronavirus infections, work from home is now officially an investment sector. Officially. Why . Because it has its own etf now. Direxion today launching a new work from Home Exchange traded fund, Ticker Symbol wfc, chock full of companies we have come to depend on that are keeping most of us connected to our offices and coworkers. Top five, twilio, crowdstrike, avaya, zoom is in there. But okta is right there at the moment. Oktas stock is jumping 3. 33 . The corporate password and Identity Management company basically allows single signon to log in from anywhere to multiple Cloud Platforms and has clients who pay anywhere from 2 to 100,000 a year in subscription fees. The Remote Working rock star flexing its muscle, up 76 year to date. Oktas ceo and cofounder todd mckinon is watching the covid headlines and joins us live. Great to have you. States have begun easing lockdowns. More or less around memorial day. Tell us what you were seeing when it comes to remote logins and what you are seeing today. All our customers, their employees and their customers log into the tools they need to be productive and what we are seeing is that this country and the world is working hard. They are working harder than ever. Theres more logins, more security events, more usage of technology than theres ever been. We are doing our part to make it easier for them to get in there and make it secure and keep the thing rolling. Liz faas, software as a service, is delivered online. We love it. We have it at fox. This way we put in one password and then we can suddenly log on to everything from slack to microsoft, mail, et cetera, et cetera. Its just such a huge time saver. Your team, im sure, has been able to watch basically realtime logins. You say people have been working harder from home. I would tend to agree. I know from my own experience, i dont move, im just so focused because theres almost a frantic atmosphere to all of this. How do you see catalysts looking ahead be on the coronavirus for brand new subscribers . Well, i think that we released something we call the businesses at work report which is we share with our customers and with the world at large data, aggregated across customer base, to help give them a better feel whats going on. What we saw whether we released the version of this report for the pandemic a few months ago is that people of course are using more collaboration technology, things like webex, zoom, slack and box and things like that, but they are also using more security tools because they are really making sure that they balance this increased flexibility for work. Like i said, we are working harder than ever. We are always on. But they also want to do it securely. I think an interesting idea is think about the secondary effects of security tools that have to be purchased and implemented around this increased use of technology in general. Liz talk about that, security, hackers. Hackers have definitely been sniffing around. We know the country of australia recently was a target of a massive statesponsored hacking campaign. Im interested to know what your i. T. Guys see, because they can see those bad actors knocking around and looking for weaknesses and cracks. Are they state sponsored . Can you tell . Because that becomes an extraordinarily worrisome issue. You know, people are always, no matter what the technology, they are going to try some people in the world will try to take advantage of other peoples vulnerability. We are seeing the same thing, as more businesses are embracing flexible work, as more businesses are moving their business, their customers and their partners online with better websites and mobile apps, the bad guys out there are taking advantage of that or trying to take advantage of all this vulnerability we have as a society, as a world moving toward that and its up to us as technologists to make sure we balance all of that flexibility with robust block type. Thats what were dedicated, the entire industry is dedicated to do. Liz with so much of us, so many of us jumping online and working, you just released a survey and one of the questions that you had asked so many, thousands and thousands of your customers, were their attitudes toward privacy and the coronavirus. If somebody tests positive, and they are emailing about it or whathave you, talk about what we found here. It was 14,000 consumers so it wasnt just okta customers. It was surveying consumers to get a sense of what their views were on privacy and because its an important issue because we as a society really need to balance, you know, the use of technology and then the benefits of technology and then the downsides of having data being shared and peoples personal information being on these services. We want to get a sense of that. The results are very interesting. We see that first of all, people dont really have a great idea of what constitutes their Digital Identity online. They dont really understand the amount of data thats being collected and the social Media Services and other types of services, how much data is out there. I think its hard for us to make important or Intelligent Decisions about whats allowed and whats not if people dont even understand the kind of basics of the parameters of whats being shared and whats private and whats not private. We are trying to get that conversation going so that we can build as an industry and as okta Better Solutions to help give people more control of their data. Liz okay. Todd, thanks for making certainly our lives easier with okta. Great to have you. Thank you so much. Todd mckinnen. The claman countdown will be right back and we will be back with the ceo of the hottest media sports blog, barstool. At mercedesbenz, nothing less than worldclass service will do. Thats why were expanding your range of choices. Many dealers now offer optional pickup delivery and athome maintenance, as well as Online Shopping with Home Delivery and special finance arrangements. So, whether you visit your local dealer or prefer the comfort of home you can count on the very highest level of service. Get 0 apr financing up to 36 months on most models, and 90day firstpayment deferral on any model. Liz the nfl 2020 season is months away but today the league just called its first timeout. Due to the covid19 pandemic, the nfl is canceling the august 6th hall of fame preseason game between the Dallas Cowboys and the pittsburgh steelers. The hall of fame induction ceremony on august 8th is also going to be scrubbed. But its game on in the social media shoving match between hall of famer and fivetime super bowl Great Outdoors<\/a> kicks into high gear. The ceo of the atv giant is here on what hes doing to keep his recreational vehicle giant from going offroad. From too much demand. Kind of a good problem to have. And brady versus portnoy. The fivetime super bowl ring wearer and blogging rock star going headtohead on instagram but whose side is barstool sports ceo on . The lead grownup in the room of barstool sports is here live on that in just a few minutes. Plus the new app for betting that barstool was getting ready to launch. Plus, back in the covid bulls eye. You have the mouse house there. The ev monster truck battle heating up and charlie is about to break it on a big story. Less than an hour to the closing bell, lets start the claman countdown. Liz breaking news. Apple has Just Announced<\/a> that beginning tomorrow, it is closing 14 stores in florida in locations including miami and boca raton. This as covid19 cases are starting to rise at an alarming rate. Now, this is separate from the seven stores in texas that the iphone giant said it would close, and that was announced yesterday. So we are watching this as we speak. It is a work in progress. Things are developing rather quickly in this final hour of trade for many different companies. Apples stock is still up about. 33 , 361 a share. Lets get to the pop and drop stocks right now. Did electric vehicles just get a major signal from the Trump Administration<\/a> . Maybe a green light . To warren, ohio and the former gm lordstown factory where Vice President<\/a> mike pence just finished touring the Lordstown Motors<\/a> plant where the electric Truck Company<\/a> which is, by the way, 10 owned by workhorse, just did a big unveil of its new endurance electric pickup. Workhorse stock jumping as much as 14 earlier, has reversed. Its down 1. 5 . But the excitement comes on the possibility that the administration is finally starting to cozy up to electric vehicles and the United States<\/a> leadership position in that area. Workhorse has been on a tear, though, jumping 372 quarter to date. To the rivals, tesla which traded this morning as low as about 939 a share, had been lower. It is now up by 1. 5 to 975. 99. Tesla slated of course to Start Building<\/a> its supercool cybertruck in 2021. Gm is hoping to build its First Electric<\/a> pickup and the hummer which was, yeah, the all electric hummer was actually delayed. Nikola is trailing the pack with its electric truck called the badger slated for production by 2022. Gm is down 1. 33 . Nikola is down just under 1 . Okay. To the mouse house. It is slipping on its announcement it will delay the reopening of disneyland. The two anaheim, california parks that make up disneyland were originally slated to blast back open their gates july 17th. But now we dont have a date for when they are pushing it out to, because they will not be issued more guidelines by the state of california until after the july fourth holiday. Disney is down 1. 75 . While the park opening has been postponed, the Downtown Disney<\/a> district is still expected to open july 9th. Rival theme park stocks from comcast which is down about. 33 to sea world, six flags, these are names we are watching very closely because we are getting different dates on them. The dates are suddenly starting to move on when they will reopen. Sea world down 2. 5 . Six flags down. 5 . By the way, Disneyland Reopening<\/a> is not the only disney property in jeopardy. The july 24th release date of its live action movie mulan may be pushed back again, as covid19 cases surge across the multiple states in the u. S. Get to mortgage rates. They are still outrageously low, still near record lows, but thats not enough to help kb homes. Its down 12 , nearly 13 right now. They had their homes falling double digits for sale. They are seeing sales orders plummet 57 in fiscal Second Quarter<\/a> which Credit Suisse<\/a> called quote, pretty shocking. The home builder blamed covid19 for delays during the quarter and the increase in purchase cancellations. Kb homes now stands just spanning that 29 a share level. All right. Look at the dow. Its now back up 156 points. Now, even as a tornado of bad pandemic news swirls around the u. S. , the economic skies got just a bit clearer after key data reveals today, we have durable goods orders that came out this morning. This is good. They shot up an unexpected 15. 8 in the month of may. Boy, that was way better than the expectation of about 9 . When you look at Something Like<\/a> that, you say okay, these are big ticket, more expensive items that last two to three plus years, hopefully. Then weve got continuing jobless claims. Continuing claims finally dropped under the 20 million mark. So down 767,000. Continuing claims are not the new people jumping on the unemployment lines, its the ones who are still there and havent been hired back. Then the final print for First Quarter<\/a> gdp, while still showing shrinkage of 5 , it did not worsen. It remained unchanged from the previous level, 5 contraction. Then you get Goldman Sachss<\/a> head honcho David Solomon<\/a>, who said yesterday at an investor conference, the markets are overly bullish on less worse data and they are out of touch with the true reality of the longterm coronavirus effects that are negative. Whos right, the markets or solomon . To our floor show traders. Guys, which side are you taking . Let me ask sarge first. If you are taking one side, which sectors or stocks support your pick . As usual, i can give you an answer but it might be a little lengthy. All right . Solomon is wrong about a vshaped economic recovery. We see this in the labor markets. They are improving but not nearly fast enough. We are at the point in the rebound where we can go no further without suddenly better covid related statistics. The statistics related to covid are getting worse. Unfortunately, premature reopenings, the protests, all that that shook the nation, also brought the virus back in the door. Now, equities, are they ahead of the economy, yes. Is this justified . Im not sure. They might be. This is the byproduct of supply and demand after funneling all of our capital flows we look at through the whole screening process, that renders Everything Else<\/a> less attractive. Stocks have to be expensive. There has been a reevaluation. Earnings, hes wrong about earnings because nobody is looking at q2 or q3. We are looking at 2021 and 2022. All right . Folks are going to continue to keep working from home. Maybe by choice, maybe not by choice. They are not going on vacation this year. They are going to cook at home regardless. All right. So you want the stocks, you still want the work from home stocks, adobe, salesforce, microsoft. You have the guy from okta on today so we will go with okta. Ecommerce, you still amazon, walmart, conagra, kraft heinz, pepsi, mccormick. You want your treatment plays, moderna, regeneron. You also want to keep your cash, you want to maintain your flexibility even if it hurts your top line performance. Nothing beats flexibility in these markets. Liz but sarge, yeah, i love this. Sarge says you want this, you want that, gives this whole Shopping List<\/a> and says keep some cash, too. I need to spend the cash on all the stocks. Scott, please explain to me because im looking at what David Solomon<\/a> said and saying you know, they can kind of both be right. The markets can be right and David Solomon<\/a> can be correct. Theres no question about that. Sarge makes some great, great points here. The market is ahead of the economy. The market is a leading indicator in most cases. But one thing that i would point out to you and to everybody else is a lot of this right now is what people call the tina trade. There is no alternative. So if people have cash and are putting it to work somewhere, where are they going to put it, into the bond market and get half a percent, whatever it is, for ten years . No. They are picking and choosing in the equity space which happens to be the big cap techs right now leading, and i do think that to break out of the range were in, to break out to new highs, we are going to have to get some other sectors to go along for the ride. That doesnt mean, in my opinion, there will be a sector rotation. I do believe that the big techs will still lead this rally and one of the stocks that i love that actually goldman just downgraded last week is slack. This is a company that even before the pandemic hit was on its way. You know, it had ipoed, the stock got hit like many ipos happen and then they started picking up clientele. This thing was on a roll even prior to the lockdown. Goldman does point out there is some concern that microsofts product could offset this. But i think slack is one that you have to have, because not only is it on its own merits, this could eventually be a takeout play from microsoft. You know, theres one other thing liz i knew sarge was going to do that. I knew you were going to do something. We are jampacked because scott just brought up slack. Weve got okta coming up, the ceo. Stay tuned for that. Sarge, scott, thank you so much for your perspective. I have been doing this too long. 49 minutes before the closing bell rings. Macys is dropping nearly 5 after announcing it will be laying off some 3900 workers in an effort to cut even more costs. The retail giant said the cuts were part of a restructuring that it hopes will save 365 million this year and 630 million total annually. Macys down 60 this year, down another 5. 25 right now. From one of the top work from home allstar stocks, we have to mention okta. It skyrocketed 65 so far this quarter alone. Its just come out with a new covid19 survey of its clients that has some rather disturbing and worrisome results. What that survey says and whats next for okta if and when more people really start heading back to work. What about this latest pause button from texas thats breaking in just the last couple of hours . Weve got the ceo of okta coming up. We could never do what they do. But what we can do it be a partner that never quits. Verizon is the most Reliable Network<\/a> in america. Built for interoperability and puts First Responders<\/a> first, giving their calls priority, 24 7. We do what we do best so they can too. Liz so, you know, we mentioned this already but it is big news. Just as Texas Governor<\/a> greg abbott announced in the last few hours that he has frozen his states reopening due to an alarming spike in coronavirus infections, work from home is now officially an investment sector. Officially. Why . Because it has its own etf now. Direxion today launching a new work from Home Exchange<\/a> traded fund, Ticker Symbol<\/a> wfc, chock full of companies we have come to depend on that are keeping most of us connected to our offices and coworkers. Top five, twilio, crowdstrike, avaya, zoom is in there. But okta is right there at the moment. Oktas stock is jumping 3. 33 . The corporate password and Identity Management<\/a> company basically allows single signon to log in from anywhere to multiple Cloud Platforms<\/a> and has clients who pay anywhere from 2 to 100,000 a year in subscription fees. The Remote Working<\/a> rock star flexing its muscle, up 76 year to date. Oktas ceo and cofounder todd mckinon is watching the covid headlines and joins us live. Great to have you. States have begun easing lockdowns. More or less around memorial day. Tell us what you were seeing when it comes to remote logins and what you are seeing today. All our customers, their employees and their customers log into the tools they need to be productive and what we are seeing is that this country and the world is working hard. They are working harder than ever. Theres more logins, more security events, more usage of technology than theres ever been. We are doing our part to make it easier for them to get in there and make it secure and keep the thing rolling. Liz faas, software as a service, is delivered online. We love it. We have it at fox. This way we put in one password and then we can suddenly log on to everything from slack to microsoft, mail, et cetera, et cetera. Its just such a huge time saver. Your team, im sure, has been able to watch basically realtime logins. You say people have been working harder from home. I would tend to agree. I know from my own experience, i dont move, im just so focused because theres almost a frantic atmosphere to all of this. How do you see catalysts looking ahead be on the coronavirus for brand new subscribers . Well, i think that we released something we call the businesses at work report which is we share with our customers and with the world at large data, aggregated across customer base, to help give them a better feel whats going on. What we saw whether we released the version of this report for the pandemic a few months ago is that people of course are using more collaboration technology, things like webex, zoom, slack and box and things like that, but they are also using more security tools because they are really making sure that they balance this increased flexibility for work. Like i said, we are working harder than ever. We are always on. But they also want to do it securely. I think an interesting idea is think about the secondary effects of security tools that have to be purchased and implemented around this increased use of technology in general. Liz talk about that, security, hackers. Hackers have definitely been sniffing around. We know the country of australia recently was a target of a massive statesponsored hacking campaign. Im interested to know what your i. T. Guys see, because they can see those bad actors knocking around and looking for weaknesses and cracks. Are they state sponsored . Can you tell . Because that becomes an extraordinarily worrisome issue. You know, people are always, no matter what the technology, they are going to try some people in the world will try to take advantage of other peoples vulnerability. We are seeing the same thing, as more businesses are embracing flexible work, as more businesses are moving their business, their customers and their partners online with better websites and mobile apps, the bad guys out there are taking advantage of that or trying to take advantage of all this vulnerability we have as a society, as a world moving toward that and its up to us as technologists to make sure we balance all of that flexibility with robust block type. Thats what were dedicated, the entire industry is dedicated to do. Liz with so much of us, so many of us jumping online and working, you just released a survey and one of the questions that you had asked so many, thousands and thousands of your customers, were their attitudes toward privacy and the coronavirus. If somebody tests positive, and they are emailing about it or whathave you, talk about what we found here. It was 14,000 consumers so it wasnt just okta customers. It was surveying consumers to get a sense of what their views were on privacy and because its an important issue because we as a society really need to balance, you know, the use of technology and then the benefits of technology and then the downsides of having data being shared and peoples personal information being on these services. We want to get a sense of that. The results are very interesting. We see that first of all, people dont really have a great idea of what constitutes their Digital Identity<\/a> online. They dont really understand the amount of data thats being collected and the social Media Services<\/a> and other types of services, how much data is out there. I think its hard for us to make important or Intelligent Decisions<\/a> about whats allowed and whats not if people dont even understand the kind of basics of the parameters of whats being shared and whats private and whats not private. We are trying to get that conversation going so that we can build as an industry and as okta Better Solutions<\/a> to help give people more control of their data. Liz okay. Todd, thanks for making certainly our lives easier with okta. Great to have you. Thank you so much. Todd mckinnen. The claman countdown will be right back and we will be back with the ceo of the hottest media sports blog, barstool. At mercedesbenz, nothing less than worldclass service will do. Thats why were expanding your range of choices. Many dealers now offer optional pickup delivery and athome maintenance, as well as Online Shopping<\/a> with Home Delivery<\/a> and special finance arrangements. So, whether you visit your local dealer or prefer the comfort of home you can count on the very highest level of service. Get 0 apr financing up to 36 months on most models, and 90day firstpayment deferral on any model. Liz the nfl 2020 season is months away but today the league just called its first timeout. Due to the covid19 pandemic, the nfl is canceling the august 6th hall of fame preseason game between the Dallas Cowboys<\/a> and the pittsburgh steelers. The hall of fame induction ceremony on august 8th is also going to be scrubbed. But its game on in the social media shoving match between hall of famer and fivetime super bowl Champ Tom Brady<\/a> and barstool sports founder and allaround big mouth, dave portnoy, that has football fans really talking. An Instagram Post<\/a> by the former new england patriot quarterback shows him sporting orange, the color of his new hometown team, the tampa bay buccaneers, leading portnoy to then ask via social media, am i crazy or does orange make you look 75 years old . Well, how old is brady, 40 . Whatever. Around that. He quickly responded to the slam saying while he is no spring chicken, come talk to him in january. So will portnoy bet against brady when barstool sports launches its betting app for Owner Penn National Gaming<\/a> . To the grownup in the rule, barstool sports ceo erika nardini. As a Cleveland Browns<\/a> fan, i have no dog in this fight. In fact, i dont like tom brady. Tread carefully. When the betting app launches this september, is dave going to bet against tom brady . I mean, the patriots fan, he just looks better in blue. Its a fact. Dave will bet for whatever he thinks will win money, which is what all bettors should do. Liz its about money, isnt it. Speaking of betting, the new betting app is about to launch in september. This of course with Penn National<\/a> gaming. Talk to me about what its going to offer thats different from other betting apps. Yeah. We are excited to launch the barstool sports book so we have partnered with Penn National<\/a>, Penn National<\/a>s the largest casino retail casino operator in the country. That gives us a massive footprint, a very big casino establishment to put sportsbooks into. We are launching our app, you know, aiming for september and the nfl season. There will be a couple things that are different. One, everyone at barstool will be using the barstool sports book. We will talk about it all the time online. We are going to have a hand in creating the parlays and thinking about the bets. We are going to have some fun with it. When you look at sports betting, theres really two things that really matter. One is brand and the other is consumer trust. We have those two things in spades and now we are just building the product with our partners at penn to really back that up, and to give bettors a great experience and to enable them really to have some fun with it. Liz there is one major piece missing. Thats live sports. We know mlb has finally come to a deal. They are supposed to start in a couple weeks. Nba is supposed to start at the end of july. The nfl hall of fame game has been canceled. What are you concerned about if there is sort of a paucity of live sports on television that people can actually bet on . Do i have to go back to the santa cruz hackiesack tournament to bet on something thats live . Yeah. Look, everybody is rooting for sports to come back. I think its great that Major League Baseball<\/a> figured things out. Like that was painful. But its Good Progress<\/a> and it will be great to see baseball happening, you know, in july. It will be great to see hockey back in august. Huge question right now around College Football<\/a> and obviously, nfl. You know, what i really believe is that betters will bet on anything, on the ponies, on hockey, on tennis, tennis is the second largest betting pool on the planet so there is so much betting activity around tennis. You will find people betting around bulgarian soccer. Bettors will find most anything to bet on. What we also think is that, you know, betting will become more social, more like prop bets. You can bet on entertainment, you can bet on, you know, theres really anything that you can make a market for, you can bet on. We are obviously very focused on betting on sports and thats what our hope is, that prime time sports come back and we will be able to bet on those. Liz right now, rivals draftking and fanduel, who are not rivals at this very moment but they advertise on your site. Is that going to continue once you have a competitive betting app . No. So you know, dave portnoy and barstool sports has worked with fanduel and draftkings, we worked with fanduel pretty exclusively last season so we helped build their data bases, helped build their brand. Now we will go do it for ourselves and we will tap into the 15year history barstool sports has with its fan base. Now we have a product for them and now we have a partner that gives them a place to go. Thats really just the beginning. So we definitely will not be taking their advertising and will be competing with them on theirs. Liz huh. I love it. I think its great and interesting stuff. Listen, its great to have you. Thank you so much for joining us. Erika nardini, the grownup at barstool sports. Thank you, liz. Liz great to see you. Does she have the best job . How did she get that . This, youve got to hear. Ive got the entire behind the scenes, untold story of erika nardinis climb from quitting her job in finance to leaping into the wild waters of marketing. My new podcast reveals how taking a major pay cut paid off in the long term, leading her to be the top of the countrys Fastest Growing<\/a> lifestyle brand. Download it on spotify, apple, google, fox news podcasts, anywhere you get your podcasts. The claman countdown will be right back. Look at the dow. Now up 2 scomboints. Thats a clear win at this moment with 27 minutes left to trade. Its evident in good times, with decisions focused on the longterm. And crucial when circumstances become difficult. That continued emphasis on people our advisors, associates, clients and communities gives us purpose, strength and a way forward. Today. And always. announcer reliability is everything. So, if your networks down, youre down. Verizon knows your customers need to reach you seamlessly. Your team needs to work from different places across many devices. Plus, you want the security trusted by some of the Largest Companies<\/a> in the world. And thats why you trust us. The most Reliable Network<\/a> in america. Liz you can call this a travel ban trifecta. Delta airlines joining competitors united and american in warning passengers they could be banned from future travel if they refused to wear masks on the carriers air planes. The new policy outlined in an internal memo today by the ceo ed bastian. This as a new survey finds most passengers will need another about seven and a half months before they feel safe to fly again, to go on a commercial jet. Travelers are still feeling spooked. They are trading the bahamas for the back country. The Company Already<\/a> grabbing that business is Sport Utility<\/a> vehicle leader polaris. The ceo and chairman scott wine dealing with a problem most ceos would love to have, too much demand. Scott, whats your order book looking like right now . You know, liz, we have our dealers, they still have some inventory and our retail sales are incredibly strong through june but certainly, weve got a backlog that will take us most of the rest of the year to try to dig out of. But im really proud of the way our team has worked through the supply chain challenges and kept our plants up and running and we are running almost at full capacity to try to be able to deliver the products that our customers and dealers want. Liz well, are you hiring . Can you articulate how you are managing to fill the demand at least as best you can . You know, we have been very fortunate, our work force has come back to work, i know theres a problem with the 600 additional in some places but we have not had that issue. Our employees are back to work, working hard. We are covering with overtime as much as we can. We are not sure how long this demand spike will last but interestingly, its mostly new customers coming in. Its not our traditional power sports customer. Its new people into the industry, if they dont have soccer games or little League Baseball<\/a> to go to, they are finding the outdoors is a great place to take their family. Theres no need for a mask when you have a helmet on. We encourage people to come out and enjoy. Liz ill tell you, these atvs go anywhere. They can really explore the socalled back country. I was looking at some of your video where you are able, you know, people going through these old historic tunnels and just kind of exploring without having to take a flight to go boil on the beach, you know. I just wonder what are you hearing from your clients right now, or potential buyers . You know, what we are hearing is that really, its with their family, they do want to make these vacations or outdoor weekend trips where they can go exploring. Last year when we rebranded and took the think outside tag line, we are no idea how gratuitous it would be. Thats exactly why we launched polaris adventures. We have more than 140 locations with almost 100 of those open now. We had Record Number<\/a> of people go out last week and use those to be able to try a vehicle for a day or a weekend, when you dont want to necessarily buy. Certainly our dealers are saying they are just getting a lot of families in that want to experience the outdoors on our vehicles. Liz you have got a defense arm that not a lot of people know about, and i was fascinated by this. In fact, you know, you can show how many vets you hire, then i love this video where you can actually, just to show you folks, how tough these things are. We can see them being pushed out of an airplane and they have obviously parachutes attached to them, but they are pushed out of the plane, they go falling down somewhere in the desert, i think this started 9 11 or post9 11, and they bounce and then they just roll them over and they are going, they are driving. After having been pushed out of a plane. Tell me about your defense division. You know, we are proud to serve the american war fighter and actually, services all over the world. Really, we just won a new contract for the razor alpha which is going to be the highest performing vehicle we have ever built for our customer and they are instrumental in helping us design a vehicle to do what they need and being able to go into the back of a helicopter and aircraft to be airlifted is one of the requirements that we designed for. You know, we take, as the Worlds Largest<\/a> power sports oem, we are able to take what we learned serving our commercial customers and bring it to the military, then we design for the military and bring that back to our commercial customers. So its a really its a small part of our business but a very important part of what we do. Liz scott, before we go, got to ask you, what is the cheapest or least expensive, cheap has a negative connotation, whats the least expensive utility or the ones that are out there for adventure vehicle that you guys sell . How much . I think we make youth vehicle that you can get for under 5,000 but if you just want a good all terrain vehicle, our sportsman 400 is probably right in that 6,000 mark. You know, weve got great value all across the spectrum. If you want to spend, you know, close to 35,000, we can give you a top of the line razor ranger as well. Liz between you and our trader, sarge, my bank account is completely empty. Buy this stock. Buy polaris. Good to see you. Thank you so much. Good luck to you and the team. Thank you so much. Thank you. Liz that stock has certainly been a great performer, too. Ticker symbol pii. The markets are gaining real steam in these final minutes of trade after kind of a red experience in the middle of the session. But charles handed me nothing. Now i have added 215 points to the dow at the moment. Will we close this high . Nasdaq up 73. The s p up 24. Well be right back. Dont go away. Limu emu doug and now for their service to the community, we present limu emu doug with this key to the city. [ applause ] its an honor to tell you that Liberty Mutual<\/a> customizes your Car Insurance<\/a> so you only pay for what you need. And now we need to get back to work. [ applause and band playing ] only pay for what you need. Liberty. Liberty. Liberty. Liberty. Liz banking lobbyists say its high time that banks be allowed to lend money to cannabis companies. Yeah, weed stocks. Weed companies, without fear of regulatory reprisareprisal. They may use the next phase of stimulus to make this carveout into law . Charlie has the smoking hot details right now. Charlie . Charlie you know, liz, this cannabis legislation is in the democrats, the house version of the bill that could be put into the stimulus package but heres how i think it could get in. What were talking about here is simply this, liz, a safe harbor to allow banks to essentially bank the pot business and to lend the money. Right now, under federal law, pot is still a narcotic so you cant really lend if you are a federally regulated institution like a bank. What we understand is that the aba is trying to work primarily with republicans, mike crapo, mitch mcconnell, senior members of the banking committee, obviously the Senate Majority<\/a> leader, to try to get sneak this thing in there as part of the stimulus package, not to do it as separate legislation. Liz not doing a good job. You got the story, charlie. Charlie whats that . Liz theyre not doing a very good job of sneaking. You got the story. Charlie well, ni know. I know. I talk to loifbbyists. They tell me this thing. If they can get the republicans on board with this and by the way, right now, the rubber is not meeting the road on the negotiations. People are just feeling each other out. There is a general sense of what might be in this targeted industries may get stimulus money. Unemployment extension, states and cities that are banged up because of the coronavirus shutdown, those are some of the big pictures, maybe Liability Protection<\/a> to help businesses so they dont get sued for bringing people back to work and who may get covid. So theres a lot of jockeying for position. The rubber will meet the road in the next week or so. Looks like the number is like 1 trillion but still, you know, [ inaudible ]. This pot stuff to me is very interesting. You know, despite the fact that states around the country have, you know, allowed the use of medical marijuana, sometimes even the use of marijuana, its still by federal law a narcotic. If its a narcotic, then banks cant lend to the pot companies. If the banks cant lend to the pot companies, they cant grow. We know the American Banking<\/a> association is behind this. They want the aba to push the republicans to liz too much weed discussion. Cannabis. You say cannabis, people start listening. All the cannabis stocks that we showed, multiple ones are in the red right now. Boy, their time at least about a year ago, they were all charging ahead. We are watching that story. We will try and reestablish with charlie. Im just saying that because were were done. There you go. We have some cannabis names there. Well off their highs of the past couple years. The dow is charging higher and is well beyond the original highs when we went into this hour. We had been up about 143 for the high of the session. Now we are at 253. I want to take a quick look at some of the major financials. All of them are up right now. This ahead of the Bank Stress Test<\/a> results that will be released after the bell today. Our countdown closer has all the details you need to be watching and he knows, he was a former Federal Reserve<\/a> economist under paul volcker. The claman countdown will be right back. vo at audi, we design cars that exhilarate with versatility, whether on the track, or the everyday drive. Today, that philosophy extends to how we connect with you. We call it, audi at your door. Whether a remote test drive, shopping, tradein, or even service pickup, audi at your door can do this and more at participating dealers. The premium audi dealership experience, on your terms. Audi at your door. Just for healthcare workers fighting covid19. Learn more at massmutual. Com healthbridge some Companies Still<\/a> have hr stuck between employeesentering data. A. Idge changing data. More and more sensitive, personal data. And it doesnt just drag hr down. It drags the entire business down with inefficiency, errors and waste. Visit paycom. Com, and schedule your demo today. You get the freedom of what a 7day return policy. This isnt some dealership test drive around the block. Its better. This is seven days to put your carvana car to the test and see if it fits your life. Load it up with a weeks worth of groceries. Take the kiddos out for ice cream. Check that it has enough wiggle room in your garage. You get the time to make sure you love it. And on the 6th day, well reach out and make sure everythings amazing. If so. Excellent. If not, swap it out for another or return it for a refund. Its that simple. Because at carvana, your car happiness is what makes us happy. Liz we should look at amazons stock. Is is up on the news just came out in the last hour that amazon has won the bid to the naming rights of the new nhl and wnba arena thats being built right now in seattle and guess what . They will name it the climate pledge arena. That is really snappy. Climate pledge arena. Investors, lets get to nike i think they sponsor the wnba outfits. Nike ahead of earnings out after the bell. Cheryl casone what we need to be watching ahead of those earnings . Reporter were waiting on nikes Fourth Quarter<\/a> earnings numbers due out in just a few moments. Expectations for earnings per share, seven cents. Revenue expected 7. 32 billion. The big story will be china sales as well as online Sales Numbers<\/a> for the time during the pandemic. While it is expected nike will take a hit from the shutdowns, this quarter analysts say it is the commentary. Several say nike has a Bright Future<\/a> because of the strong stand on social Justice Reform<\/a> as well as its ecommerce initiative. Susquehanna called nike the hinge of the hill. The guidance he is banking well get good news on guidance. Ubs analyst jay soles says the nikes best days are ahead. He raised hits target to 122 per share. One caveat. Foot lockers were closed during the pandemic. And nike stores. It will not be a rosy past but a Bright Future<\/a>. We love the nike doing the peloton app in the apartment on most days. Liz you know me. Cheryl and i did many a triathlon together. Thanks, cheryl very much. Reporter you bet. Liz in 30 minutes the world will get a Temperature Check<\/a> of the u. S. Financial system when the Federal Reserve<\/a> releases the Bank Stress Test<\/a>s, 34 banks each with one more 100 billion in total assets are under the microscope. Theyre put to the stress tests worst Case Scenarios<\/a> they hold up. Were joined by larry cantor a former Federal Reserve<\/a> economist who worked under paul volcker who is now with atlas merchant capital. Who will pass or who will fail . Well not going to know, fed. This time the around the fed will not release results for individual banks. There will not be any pass or fail grades. The last thing we need here to stoke concerns about bank capital at a time when almost all these Government Programs<\/a> are running through the banks like ppp and all the stuff the fed is doing. They are going to be very concerned with capital positions at a time when banks are facing a lot of pressure in terms of default rates forbearance and credit lines, companies who may not make it. Many of the big banks as you know have already altered share buybacks and in the wake of the stress tesss it wouldnt be surprising to see the banks suspend dividends but the banks are not allowed to announce any changes to pay outs until monday at the earliest. It is possible the fed may, because they dont want to encourage scrutiny of individual banks. That is the last thing, given how hard the economy is going to be hit. They may ask big number of banks to suspend dividend because they need the capital right now, to support all that theyre doing. They want banks to extend credit. So i wouldnt be liz larry we seen a lot of companies suspend dividends. Many banks have not. That is what i wonder about . Anyone in particular who might be sort of susceptible to the first cutting of the dividend . Big names im talking about . The fed will be quiet what they do. You dont want to add a financial crisis on top of the banks. One of the things the banks are doing, companies are desperate for cash reserves, especially ones rehurting and have credit lines with banks they want them to keep going. So i dont think, liz, youre going to hear individual names from the fed. [closing bell rings] liz we got to run. Good to see you, thank you, larry cantor. Look at the dow higher by 320 points. That will do it for the claman countdown. Its a big win for the bulls. Connell on the ground in a crucial swing state. President trump this hour is in wisconsin. He is about to take a tour of a local shipyard to deliver remarks. Well keep an eye on that. The other thing stocks closing right at the highs of the session, really strong move into the close. Im connell mcshane. Melissa im melissa francis. This is after the bell. Major averages gaining steam at the lows closing bell. Looking to recover some of yesterdays massive losses. Fox Business Team<\/a> coverage. Jackie deangelis in the newsroom. Well start with blake burman at white house. Reporter expecting to see President Trump<\/a> in about an hour or so, at least within","publisher":{"@type":"Organization","name":"archive.org","logo":{"@type":"ImageObject","width":"800","height":"600","url":"\/\/ia803200.us.archive.org\/14\/items\/FBC_20200625_190000_The_Claman_Countdown\/FBC_20200625_190000_The_Claman_Countdown.thumbs\/FBC_20200625_190000_The_Claman_Countdown_000001.jpg"}},"autauthor":{"@type":"Organization"},"author":{"sameAs":"archive.org","name":"archive.org"}}],"coverageEndTime":"20240716T12:35:10+00:00"}