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Stocks rise ahead of tech earnings, Fed meeting - YouTube
Channel: Fox Business
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two one and away we go it's monday july
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the 25th all day and off we're running
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the dow opening with a gain of 85 90
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points 31 900 is the level right there
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most of the dow 30 uh more than half of
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them are in the green so we've got some
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buying going on in the early going this
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morning as for the s p 500 where's that
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it is up but only just a six point gain
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that's point one five percent the nasdaq
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is
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virtually i mean dead flat is up .04
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how about big tech as we've been telling
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you they all report later on this week
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all of them are fractionally higher this
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monday morning
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right susan's with us now she's not been
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on vacation unlike lauren susan's been
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you know working hard he's been working
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hard yeah
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a lot of good places why don't you take
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us through the big tech earnings yeah so
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one third of the s p reporting this week
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all the big tech ones are talking about
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apple amazon microsoft google i'll even
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throw in the coca-colas the fours the
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gm's and so far of the 70
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of companies that have reported what 20
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percent of the s p has reported 70
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percent of those have done better than
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anticipated 70. so far i think it's
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turning out to be a little bit better
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than anticipated in the earnings season
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now we have 12 members of the dow
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reporting this week which we'll talk
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about in just a bit so analysts say that
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we are on track for five percent
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increase in profits and that's pretty
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much all thanks to oil companies with
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the search and oil prices so oil
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earnings are forecast to be up
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250 percent in this quarter so if it
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wasn't for oil we actually might even
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see a drop when it comes to profit for
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much of the s p companies okay that was
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forecast that's uh how about disney yeah
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i think that is the worst performing of
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the dow 30 stocks the worst if i'm not
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mistaken
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is that right i think it's about 30 down
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on the year yeah um but i wouldn't
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necessarily call it the worst i don't
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know you know it depends on how you uh
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look at it but look well fargo is
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cutting the disney price target uh
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they're saying a reset for a recession
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looming still bullish 130 is the call
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for the stock in wells's view
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yeah so they're saying you know we like
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this that it's getting about 130 dollars
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a share
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but it's now at 102 a share right and
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they're also talking about slow down
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when it comes to parks as well but
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here's the big caveat is streaming so
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disney and other streamers has just got
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some competition yet the nfl just
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announcing this morning it's new out of
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region streaming service nfl plus will
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cost 4.99 a month now i'm not sure if
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you read the new york times report on
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yesterday that apple is in the lead to
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get the nfl sunday ticket after direct
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tv
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is giving it up because they can't
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afford it so that's going to cost around
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two and a half billion dollars plus a
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year
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if any of the technology companies step
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up so it's a billion more than it costs
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the previous year and look i think big
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tech is playing with different rules
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they have deep pockets and they're
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really threatening to grab a lot of
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those sports broadcasting rights away
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from those traditional linear tv media
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companies however the league still want
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the biggest audiences so there's a
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reluctance to take it away from linear
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tv and broadcast yeah but disney's
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suffering because of the competition in
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that area all right uh snap
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did they get another couple of
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downgrades a bit late i would say for
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morgan stanley because a lot of the wall
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street banks already took it down last
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week and they're talking about tick-tock
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competition and slowing advertising
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worlds and that means snaps underweight
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to them so basically a sell only worth
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eight dollars that's roughly around 20
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less than today's stock price
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you know snaps dismal quarter already
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has wall street bracing for pretty bad
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meta facebook report card on wednesday
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also you have google alphabet reporting
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on tuesday i'll be speaking to the
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executive ruth por at cfo after that
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alphabet report card but i think all
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indications are that we are in a slowing
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advertising spend world okay tesla they
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dumped a lot of their bitcoin i know
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that did they lose money yeah they lost
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around 170 million dollars or so on
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their bitcoin holdings in the first six
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months of this year but they actually
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gained 64 million from selling 75 to
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that stash so at the end of june they
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had around 218 million dollars worth
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still on their balance sheet and
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remember that tesla bought around one
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and a half billion dollars last year and
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some positive some actual company
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positives is tesla announced in that
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same sec filing and in different kind of
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reports here they're going to spend
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eight billion dollars in investments
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this year on their company also opening
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up their ev charging stations across the
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country and even gm mary barra admitted
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that tesla and musk have the lead when
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it comes to electric cars
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okay um intel they've announced a deal
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with is it media media tech tech yeah
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that's a taiwan company so here's the
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interesting part you know we have that
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chips act still on the table 50 billion
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dollars worth right from from dc
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now that's still to be debated meantime
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look at what intel is turning into
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they're becoming an outsourced chip
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manufacturer instead of an outright chip
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producer where they design produce make
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their own chips so that's a transition
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in their company given that they look
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that i think the business as we know is
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lagging behind the nvidia's amd's and
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tsmc's over in taiwan so they're trying
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to remodel their business and in the
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future if they're going to make the
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chips here in america
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can you imagine what that means for
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manufacturing they already have a 20
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billion dollar investment in ohio and
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some fab plans that they're looking for
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so it will be a big deal for american
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manufacturing america back to america on
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to u.s soil i think that's a that's an
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interesting transition worthy that the
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stock is only at 38 bucks a share kind
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of depressed actually but again where
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the days when it was in the 140s i
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remember yeah i remember that well sure
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apple am i right in saying that apple
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for the first time is offering discounts
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to shoppers in china i don't think it's
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the first time but it's rare i think
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i've seen that before previously are all
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products discounted no just the top-tier
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iphone so that but it's rare in between
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upgrade and intro cycles right between
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the iphone 13 and the upcoming iphone
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14. so you're getting four days of
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discounts on the top tier phones that's
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up to 89 off those iphone 13 pros
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between july 29th august 1st also some
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certain airpods apple watch models are
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part of this and what this tells me is
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there are concerns first of all about a
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weakening chinese economy and consumer
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which is their second largest market but
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also about pricing can you imagine what
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the iphone 4t is going to be priced at
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with this in this high inflationary
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environment i don't think they're going
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to be able to raise prices this year
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when does the if the 14 come out so they
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haven't made any announcements but you
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know we're just used to an intro in the
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fall usually in september okay it's
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september it is uh we're waiting for
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that thanks very much susan check the
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big board we're in business now for six
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seven minutes and we're down 30 points
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how about the dowel winners there are
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some winners and we're going to show
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them to you here we go on your screens
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united health travelers amgen walgreen
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boots down winners also dow inc is in
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there not many big names travelers these
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are more
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s p words sbb finance mckesson intuitive
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berkeley freeport mcmurray i don't see
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big names splashed across your screen
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intuitive alphabet there you go they're
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up one percent nicely uh netflix is up
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there almost one percent higher and
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google yeah up uh 80 cents there you go
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