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Stocks open lower ahead of earnings season - YouTube
Channel: Fox Business
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all right they're clapping the cheering
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i don't know what those signs are
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they're holding up there on the nasdaq
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but they're excited about today's
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trading and here it goes it is 9 30.
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it's a monday morning
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the bell is wrong all right we're
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opening with a loss for the dow
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industrials i'm thinking about about a
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half percentage point and the dow 30
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vast majority are in the red so you've
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got a lot of selling among the dow 30 so
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far today and the dow is down 148. the s
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p is down about three quarters of one
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percent selling there and the nasdaq
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composite also down or it is down
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exactly one percent i presume the big
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tech's doing badly it is apples at 145
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amazon 113 meta 166 alphabet is down 30
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bucks and microsoft at 265.
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oh show me please uber
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very much a star a company in the news
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there's a big story in the washington
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post suggesting some tough practices by
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former management all right susan good
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morning to you what are they alleged to
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have been doing so i don't think this
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will surprise you we're talking about
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using violent attacks by taxi drivers in
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order to win support from politicians
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and riders and i'm talking specifically
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in paris remember that in 2015 we saw
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taxi drivers attacking and protesting
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uber's entry into the market you had 80
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uber drivers that were attacked across
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europe that year also they were accused
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of using a kill switch so they blocked
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governments from grabbing evidence
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during raids in at least six countries
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and then they funneled money through tax
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havens like bermuda have you ever
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watched that show super pumped it's
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about travis kalanick and the co-founder
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of uber the corporate bad boy before he
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was kicked up before uber's ipo so he
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was pretty much in charge and kind of
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behind all these aggressive moves to
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really expand quickly and i would say
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look i mean
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uber kalanick for all his faults he was
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a tactician and the reason why uber was
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worth around 70 billion dollars when i
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paid ipo'd in 2018. that is not now is
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all the way down to 22 dollars a share
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which is half the price right that's
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right of its ipo offer price um but yeah
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you were just blowing your nose i think
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i'm i'm getting kind of a nose leak here
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too
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watching wimbledon all weekend for us
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well it was a great final the men's
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follower was terrific and i'm very glad
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that djokovic won oh well okay it was
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very entertaining that curios had a self
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conversation the whole match for four
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hours i thought that was gamesmanship
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and i didn't like it okay yeah don't
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like it
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all right i'm gonna move on uh show me
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lululemon is down seven bucks that's two
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and a half percent they're down that
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stock is down what 25 percent this year
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i know what's the problem the problem is
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well i also got a downgrade this morning
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from jeffrey so there's a lot of lycra
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and spandex that was one on center court
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yesterday from the players so we're
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talking about increased competition from
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others like think of nike that's also
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getting to into athleisure as well the
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covet lockdown boom is over according to
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jeffries and they're bringing down their
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target prices 200
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200 for lulu lemon stock so they're
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looking for a drop of another 30 percent
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or so and that's despite the fact that
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you had louis lemon last week saying
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that they're going to quadruple their
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international sales at least their
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that's their target by 2026. well if
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they do come down another 30 percent
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that stock will have been cut in half
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because i remembered it well over 400.
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yeah but also under armour you know same
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problems there as well so jeffrey is
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cutting that stock saying it's only
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worth ten dollars well at least you get
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some upside there but it's china's
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lockdowns and jefferies is talking about
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management volatility and lagging
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fundamentals show me amc please because
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some people went to see this new movie
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thor love and thunder some watch
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wimbledon
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yeah no it wasn't me but they did well
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with that thor movie yes they did bad
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reviews
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people said it was terrible but you had
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some great stars christian bale was in
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it 143 million at the domestic box
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office they made 159 million
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internationally which as you know is
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pretty much the strength these days when
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it comes to the silver screens as i said
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super superhero marvel sequels continue
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to make money amc says it was the best
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weekend so far in 2022 10 million going
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back into the theaters i can't imagine
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adults watching that movie
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for young boys
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wow
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so demographically driven yes younger
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audience but so far it's been a
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fantastic summer you think about the
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minions did really well also top gun too
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we know is a billion dollar property and
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we're trending back to those near
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pre-pandemic levels people want to go
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out also streaming have you looked at
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those stranger things season four
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numbers a billion hours viewed so far
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and they think it'll be the most watched
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show ever on netflix even topping squid
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game which is the other billion hour
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viewed movie movie show whatever you
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want to come whatever you want to call
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it
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but what do you think about the um the
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release window just quickly in terms of
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silver screen going on to streaming
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because some say that needs to be
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reduced from 45 days or 48 days where it
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is has to be shorter than that in order
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to capture more of that streaming market
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can the streamers make more money by
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releasing it on streaming very quickly
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yeah
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before it goes into the uh into the
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cinemas that's the question if they can
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make more money doing that they'll do it
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i'm pretty sure well yeah especially if
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you're paying for the monthly fee and
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you have to pay more to watch the new
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movie yes you got it uh show me the
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check that china's tech stocks please
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they're way down today look at that huge
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losses wow what what's the result well
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beijing was finding these china tech
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names last night so alibaba paid another
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fine not huge it's a new round of a new
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round of fines yeah so and don't forget
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that just last year they paid around
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three billion dollars anything for 10
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cent as well and they're accusing them
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of being anti-trust again not reporting
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past deals to authorities but if you
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look at the comeback i mean you
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mentioned it before if there's one bull
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market in the world right now is china
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these tech names have come up 70 from
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those march lows quickly to gaming
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stocks
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they're all way down and i i know this
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is because macau has just closed up shop
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yes all 30 plus casinos being shut for a
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week in the world's largest gaming
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enclave did you know and i'm sure you
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know because you've visited macau before
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via farrier chopper uh ferry in the old
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days well let's take the chopper next
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time that's what uh people like you do
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uh so we're not talking about the gaming
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enclave making four times more revenue
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than the las vegas strip at its peak so
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the fact that you have ryzen kova cases
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i think they they were the most since
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march over in macau 3000 on the mainland
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that's why casinos have
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are being shut for a week all of them
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but they've essentially been closed for
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three weeks shut them down completely
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that's it nothing also just think about
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uh just the knock-on effect if you have
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rising cases in china think of factories
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that might be closed once again yeah
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what does that mean for the teslas the
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apples as we heard head into earnings
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season i would think it's a danger
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signal yeah i think so by the way i'll
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see you in the delaware court of
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chancery in the 11 hour i just love the
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fact that the twitter used that the
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delaware court you said i'll see you in
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court yeah really worry about that thank
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you susan we will see you later that's
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the fact the big board shows a loss of
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130 points that's 0.39
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the dow winners hopped by who we got
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there we've got uh ib well that's
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interesting ibm old tech back at the top
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walmart's in there as well and uh
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procter gamble doing well 500 winners
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altria um perry go campbell soup kellogg
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jm smoking another really huge names and
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the nasdaq headed by craft heinz
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american electric power where are the
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big tech companies not on the winners
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list the 10-year treasury yield right
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around three percent last time we
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checked 302
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price of gold uh where are we now we're
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at 17.35 that's all so much for the uh
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the inflation indicator uh bitcoin
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struggling to hold at twenty thousand
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twenty thousand four hundred right now
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oil's down to one 103 nat gas i think
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he's up this morning yes it is uh nearly
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10 percent at 662. the average price per
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gallon of regular 467. california you
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have to pay on average there 608.
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