tv Street Signs CNBC February 20, 2014 2:00pm-3:01pm EST
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all right. the top winners in the zp 500. quanta, alegion and citrix. >> go tar heels. >> "street signs" begins right now. and welcome to "street signs." i'm melissa lee along with scott wapner. look at this here. >> wait a minute. this is "street signs"? >> it is. not "fast money." >> not coming out? >> not strolling on set any minute. >> okay, all right. coming up this hour on the big show, big money bets. 350 billion dollars of financial advice lined up for you plus outrage over sky-high gas
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prices. get ready, your heating bill is about to go higher. where's the bison? why record beef prices have meat lovers looking towards greener pastures. >> yes. we begin this hour with breaking news out of ukraine. deadly violence erupting in the streets of kiev as a truce between the government and protesters disintegrates. to brian sullivan monitoring the situation from sochi, russia. brian? >> reporter: melissa and scott, thank you very much. more on the olympics in a moment. first, to a developing and deteriorating situation in ukraine. we are getting news within the past hour that the european union has approved sanctions against officials in ukraine. all of this comes after the white house stead was "outraged by images of ukranian security forces firing automatic weapons on their own people." ukraine's health ministry now says the official death toll is 67, and more than 500 have been injured. even as president obama goes public with his statements, though, there are
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behind-the-scenes talks held between washington, brussels, kiev and moscow. about 20 minutes ago the polish foreign minister, who had been in kiev meeting with the ukranian president said there was willingness among officials to call early elections to help quell the violence. joined by phone by eastern europe eder to for the financial times and on the ground in key've four days. thank you for joining us again. why did we see a reescalation of violence despite the truce, obviously tenuous? >> it's very unclear, brian what sparked this revusurgence of vi this this morning. each side blaming the other for starting it. it's the worst violence we've seen yet in the three months since demonstrations broke out. there were live bullets being used by both sides, as you said, something like 67 people killed. that's by far the most on any
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one day since these protests began, and, indeed, the most on any one day in ukraine since its independents from the soviet union 20-odd years ago. so very serious incident in the capital this morning. >> will western european officials hold any sway over kiev, or will this all come down really to one country, and that is russia? >> that's a have good question, and it appears as though the eu, foreign ministers have been in kiev and made some headway, enough to say they are staying here overnight to continue talks with both the president and the opposition. there is some talk of a compromised plan being hammered out, but it's very unclear, indeed, whether both sides will accept that, but in the meantime we know there is a lot of pressure coming from russia and president yanukovych broke off
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talks with the eu foreign minister so he could take a call from president vladimir putin. so it's very clear the influence of moscow on him and on the situation here that is very strong indeed. brian? >> neil, are you able to discern is the protests are the same group of people protesting for days or if the protests are growing? >> i think it's largely the same group of people. of course, there's been a shifting mass of people for the last several weeks, or couple of months. you know, people come and go from hour to hour. local residents come down to the square for a while. people come in from other regions for a while. but what is clear's in recent days is the radical elements within the protests have been kind of taking control of the situation. not all of these by any means are radical far right protesters. some have tried to suggest. there are those people there,
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but a lot of them are ordinary people who simply have got very, very angry after spending weeks on the streets and achieving very little. those elements are coming to the fore in the protests, and they're not necessarily willing to accept everything that they're being told or told to do by the political party leaders who are also backing these protests. >> neil buckley for the "financial times" thank you. >> thank you. if any new developments break at this light hour, folks it is about 11:5 p.m. local time. we'll bring them to you. more to why we are here. the olympics and the hopes of russia dashed when 15-year-old skating sensation yulia lipnitskaya fell during her routine last night. some suggesting the pressure too great on the teenager. especially after russia's crushing elimination in men's hockey and the entire eyes of
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the nation upon her. moments ago the u.s. extended its lead to 24, winning gold in the women's ski halfpipe. that number could go up again very soon. the u.s. women's hockey team extended its lead against team canada to 2-0. the game being played right now about 100 meters to our left. the win letter take the gold medal. we're going to give an update on that as it happens. more medals for the u.s. women in bobsled. american sledders taking the silver and bronze. and speaking of bobsledding, if you have ever wondered how those bobsleds are actually controlled or how four grown men squeeze into one, we've got a treat for you coming up. we get in-person instruction into all of that and how to head-first skeleton, all coming up. i guarantee you scott and melis melissa, you'll find interesting. sending it back to "fast money" -- i mean "street signs." >> still there.
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this is actually tape. >> yeah, right. >> the bottom part of you, jammed into that bobsled, still. >> i can't walk. >> all right. see you later. the big financial news story of the day, facebook buying whatsapp for $16 billion. the biggest social media deal date. the second biggest tech deal ever. facebook's biggest deal ever. bringing in julia boorstin from the information.com and luke kerner from the social internet giant. great to have you here. lou, begin with you, looking brilliant or moronic. that's what makes it bold. no doubt. too pricey, though? >> i don't think it's too pricey, to the extent facebook has $170 billion fran xhiz chis protect. the biggest threat, whatsapp. they get rid. threat, incorporate in it and take advantage of the growth ahead forwhatsapp. >> what else ask in play at this
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point, julia? >> in terms of the other start-ups, we look back at snapchat. reportedly turned down a $3 billion offer in facebook and google. have they moved on or will they take another look at it. and apps our asia incredibly popular like line and wechat. start-ups you maybe haven't heard of but have hundreds of millions of users overseas and some of the folks here in the u.s. will look at them and wonder if that global strength is something that could be valuable to a microsoft or a google or an apple. >> a mere you know, look at the value of the deal. it values whatsapp. stunning. at more than es 275 of the s&p 500 companies. a shocking stat in and of itself. but is that price more about playing offense for facebook or defense? >> well, it's both, but this is really defense. whatsapp is an existential app
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for facebook. becoming the central thing people do on mobile devices across the world in emerging markets, where whatsapp is crushing 235isbofacebook messen places like algeria and other places. almost everywhere it's whatsapp. google lost the deal. they've been obsessed with whatsapp, and last year tried to pay what'stoop alert it, if whatsapp should get into acquisition talks. whatsapp said, no, we will not take that and google really wanted this company. they made multiple overtures to get it and didn't get t. targets along with in terms of google. lou, as a google shareholder. i believe you own google. what would you like them to buy, in anything, in order to beef up its presence in messaging and texting amongst the younger demographic? >> undoubtedly, google needs to beef up its communication. it continues to put a lot of work into google plus, but they're not getting the traction
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they want to yet. obviously, what'sapp would have been attractive for google, and it's really a big loss for them. i think they need to do something here, and i think any of the properties that were mentioned are certainly, i'm sure, google is looking at all of them today trying to figure out what they're going to do to compete. >> and some lost in all this, what apple's role is here. did apple miss out on an opportunity to beef up its own messaging services? >> i don't think apple was really in play here. this is really, the been a battle between google and facebook. those are the two companies that have pursued whatsapp the most. google pursued whatsapp in 2010, tried to play $85 million to bit it at the time, because they can seeing the growth. that growth accelerated, they said yesterday, 1 million users every day, this calls into question apple's mobile strategy. ap hall a closed mobile strategy. use facetime on my phone but only works with other apple
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users. the fact whatsapp is open and used on any platform for free speaks to where the value is now. >> should the question, lou, be, why wouldn't apple in the fray on this? >> exactly the spirit of what we're trying to get to, is the, yes, they weren't involved in the game, but should they have been? >> undoubtedly, they should be but have a philosophy about having a closed environment. obviously massively more profitable with that closed environment than, say, google is with its open android environment, but i think we all know that over time the open environments win, eventually apple, imagine at some point they are going to open up, because this is the way the world is working. but who knows when they're going to do that. >> apple is a software company. buying whatsapp will not help apple sell more devices. that's what apple's business is. >> guy, thanks so much. julia as well. speaking of facebook, a powerhouse in the tech sector this year. dominic chu has more on the story. >> so all the facebook talk,
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despite the down tad today overall, still up over 20% this year. dig deeper into the internet software and services industry within the tech secretary perp it's the best performing industry group within the tech sector overall. specifically, six company makes up the s&p 500, internet software and services industry. verisign a company providing internet, infrastructure and security services and offers internet domain, registry services shares down 7%. not a good performer. internet giant yahoo! down 7% as well this year. then there's ebay online payments, electronic marketplace. shares relatively flat. then there's, of course, the star performers. websearch and advertising jintd google, just talking about, helping hire in terms of the overall moves for the industry, up a about 7% in the year. an biggest gain overall, up nearly 30% in 2014. coming up in the "closing bell"
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our final sectors installments looks at the nebs generation of internet companies not necessarily big enough for the s&p 500 but grab their share of headlines and two more report after the closing bell. we're preview those coming up. >> dom, thanks. coming up next, the best bets in this market. $350 billion of a device coming your way and why the gas spike could be one of the biggest threats to the u.s. economy. later, forget chicken and beef. why beef, or bison, is the new foodie dilemma. [ mike ] our living local program
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walmart reported earnings in-line, but next year cause for concern. how bad is it? and could it see declining business ahead? bringing in courtney reagan and josh brown. courtney first, retail reporter. sounded like walmart was throwing every excuse in the book between reduction and government subsidies such as food stamps to the weather, to -- increasing spending on smaller spore formats. what's the real deal here? >> we talk about weather as an excuse. right? in this case, a negative impact. bill simons said at one point 200 stores closed. people couldn't get to them if they wanted to because of the weather. that's a problem. this food stamp reduction in the program, in the benefit, is no
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joke. bill simon also said that u.s. same sto-store sales down, takea way from the food stamp element, flat. a significant impact. that could take time for that lower income consumer to shake off, as result, they saw grocery sales fall. that's a problem, because folks go to walmart to get groceries and pick up the other items on the way out. it really is a domino effect and concerning when looking at the group that serves a lower income consumer. a lot of economic pressure out there. >> josh, it's hard to think that this is necessarily indicative of anything else along the line in retail. if you just consider the fact for four straight quarters walmart missed its same-store sales numbers. maybe it's walmart's problem more so than anybody else's? >> and the stock dead from july 2012. basically trading in the 70s. >> scott, i agree and disagree with the notion that the consumer is under any kind of pressure, because if you look at what's really going on, the problem with walmart is that groceries are half of their
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sales, and kroger is taking them to the mat on price. this has never harped before. no one's had the guts to take walmart on on the basis of price and kroger is succeeding. you see other grocery chains reporting positive sales. guess where that's coming from? people aren't all of a sudden buying more groceries. they're taking it from walmart. the other thing, not that they've missed sales for the last four quarters. it's that they've reported a declining trend in comparable store sales. stores open at least a year. they can open as many stores as they want. if they're seeing declines in the stores open for longer, that's not going to help the stock. >> it's courtney, the laundry list of reasons, too. >> sure. >> rising health care costs, higher taxes, tighter cress ditd could think of other things. >> everybody has that. >> not only are there sales pressure and declining same store sales trends but increasing spending to focus on the smaller store concept and focus on e-commerce.
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courtney, sounds like a long road ahead, even if successful in this new store format? >> it does and walmart has thousands of the very, very large, large stores. sounds like a format that isn't working. the smaller format is more convenient. people want to pop in, don't want everything in one trip, what those big back store was built for. perhaps this is a long road ahead. 0 i don't know what walmart will do with all the stores if the declining sales trend continues and they can't get folks coming back into the stores to spend. >> a new ceo as well driving the bus. don't forget. >> it's not hopeless, but the problem is, if the growth strategy a few hundred small stores, not moving the needle in years to come and the dollar stores, tough as nails. compete with the dollar store, not a walk in the park. from a technical standpoint, stock has a lot of support here in the low 70s. can't go short this thing. it's still paying a nice
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dividend. why buy it? it's not cheap. >> trading space. getting to cheap, macy's 15. pulling out of other retail -- >> costco 25, but costco has growth. >> costco. >> the problem with walmart, it's a 14 multiple. not cheap enough to be exciting. >> right. >> i would avoid the space. it's just not been great. >> okay. guy, leave it there. thanksreagan, josh brown. so "fast money." >> expecting the graphic to pass by. no. >> help you try and make money. $350 billion worth of advice for you. chris heisey from u.s. trust is here with us today. so chris what do you make of what's going on in the markets since the february 3rd low? it's been a swift and quite dramatic comeback. >> no question about it. this is classic phase two, where you start the year. had you a huge gain last year. you see portfolio repositions and whans? you take a macro number terrible in december, extrapolate it across all other numbers that look terrible, and you say all
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of a sudden now growth is going back the other way. the algorithms hit and a 7% correction. those who are spooked by that the rest of the year miss out. you buy on weakness in those periods. long as the fundamental picture of growths, valuations continues to move forward. >> you think it is. >> absolutely. growth will surprise think year. >> you like energy revolution. shale, net gas, you don't like the commodities play but everything around if to transport it and make it come out from the ground? >> absolutely. think about commodity, it gets its flame being a commodity. why would you want to own a commodity? technically speaking. look at the things that transport the commodity, that's what you quantity to own, whether the pipelines, few selectivity there. the engineering company, makers of the karins to hold the liquefied natural gas, when we eventually export it, you can actually extract value there. the railcars. railways. >> want to ask you about the
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railcars. bnsf, berk steyr shire hathaways, accepting bids for up to 5,000 railcars with extra safety standards because of all the fuel transported by rail. do you like these? all the stocks at new highs in today's session on this news? >> an actual growth movement in the whole transportation segment, and the supply and demand to mismatch in favor of demand over supply. across the entire infrastructure chain, which includes the rail kashgs yes. >> technology. look at what facebook did with their deal today. the m & a that is re-emerged especially in that space. $42 billion already this year. biggest number since the tech boom. is that a catalyst to drive the nasdaq and technology stocks higher? >> it is. you have double catalysts. cash hoards and paper currency. put those two together, come up with a nice captain structure to buy out almost anything that looks to about threat or on offense, to buy growth somewhere. it's global. it's not just contained to the united states, obviously. >> one of the things in bio tech
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you like now, a real winner this year and node particular. >> the single biggest area that is hard to figure out, if want to talk about something that is still blue skies, but yet is happening quickly, it's personalize medicine. when you think about how quick we can actually sequence the giannone. >> immunotherapies? >> bacterial diseases. a major threat in hospitals now. few companies have a handle on it. and, again, research and development, areas of growth, targeting those specific ones we just mentioned. >> look what the stocks have done over the last year? they've led the market. >> they have. there's legs to go, because collateral effects to what they've been working on. be careful. they do get to be exponential within think prices absolutely. >> good to see you. coming up, heading back to so muchy will brian will introduce us to russia's very own silicon valley. later, a new cancer trail that eradicated 88% of tumorsuk.
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well, even as it is building out sochi for the olympics it is also building out its own silicon valley known in russia as skolkava. investing about $4 billion into the project, with private and public funding through the year 2020. claiming to support 13,000 job tos and more than 1,000 start-up tech companies. it offering things like tax incentivesened its own visa fo foreign born aunt trat pra nurs. companies like cisco and samsung planned to set up shop there as well. uber is driving its way into the market. recently adding traffic-heavy moss dow its list of cities served. uber backed by google to the tune of $250 million, the biggest capital investment has
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ever been involved in. this is not slowing down uber, even here. interesting. watch out silicon valley. russia is coming and known as skulkava. and more ahead from sochi, include be this. coming up after the break, we're going to continue to take you as close as possible to the action. here at the sochi olympics. i mean, close. with all the opinions about stocks out there, how do you know which ones to follow? the equity summary score consolidates the ratings of up to 10 independent research providers into a single score that's weighted based on how accurate they've been in the past. i'm howard spielberg of fidelity investments. the equity summary score is one more innovative reason serious investors are choosing fidelity. call or click to open your fidelity account today.
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welcome back. look at market there, despite walmart's warning, the dow jones industrial dow jones average up nearly 107 points right now. apple got a downgrade as well. nasdaq up, s&p 500 up two-thirds of 1% as well at this hour. safeway is said to be in talks to possibly sell itself, but added that there's no guarantee a transaction will actually happen. >> still seeing a pop in the stock here. ubs believes safeway, $27 price target on the stock. the firm thin this the financial birs may not be eager fon a
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transaction believing the current share price, likely a barrier to getting the deal done. >> and upgraded from buy to nude tral. >> spending chances to refinance much of its long-term debt. price target raids up to $94 here. >> talk raptor farming now posting positive trial fraults their experimental brain disorder drug. >> this company reporting a slowdown in the loss of muscle control for patients diagnosed with huntington's disease. good news. up 12%. >> avis trading at highs not seen since april of '98 after posting earnings above expect aces. >> dow jones notes the company benefits from zip car last year. so the stock here is up 8.6%. big move. >> and praa, a move today as portfolio recovery resources, earnings in the news of an aq acquisiti acquisition. >> a debt corrector, announcing plans to buy nor waip active capital in an effort to expand debt collection services in europe. the company expecting the deal to immediately add to earnings.
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estimated cost totaling about $15 million over the first and second quarter. all right. activist investor nelson sending another push for pepsi to separate its snack business from a struggling beverage business 4e78 helping to fund management. a 37-page letter sent to the board about the split. pepsi shares up more than 1.5% today, outperformed rival coca-cola over the past year or so. so should pepsi listen to peltz? talking numbers. on the technicals, fbn securities on fundamentals. and kevin, start with you. why should we believe that this 37-page letter will do something when pepsi is already engaged in an exhaustive strategic review? >> the strategic review is coming because the company has struggled recently, but when you look at the whole discussion, the discussion is great, because it's really focusing management, whether the deal goes through or not, it's focusing management on operating efficiency and trying
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to do the best thing in terms of shareholde shareholders. the whole discussion is a positive. whether they get it done or not, tough to tell. the board is packing the chairman -- going to be tough to push that plan through, but even drawing attention to it this way i think is a positive for shareholders. >> the attention has been drawn. if snig tough 20 puanything it through, what's the up point? >> a wonderful job doing the parts analysis. look at the bottling company, snack company, net out dissynergies they expect from a separation, you get to a stock worth somewhere between $75 and $100. stock trading around $78 now. close to fully valued. i think it's tough to actually separate the company given what we're seeing with the board and the reticence towards going forward. a fairly valued company. the upside, everything goes through, achieve the $100
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number. as i said, that's going to be quite a way off, given the position of the board. >> j.c., that's the fundamental story. what do charts tell us about where the stock pep could go? >> the chart looks like it's in trouble. several technical indicators i'm looking at confirming my thought process here. first, look at the pure price pattern over the last year. you saw 87, key resistance. tried to break through back in july and break through again back in november. that create add double cop and obviously a bearish technical signal. next after pulling back we hit 78, which was vital support. broke below 78 yesterday. trying to crawl back today nap breach did chart damage, opened the door for a 6.5% down move back to the 73 area. trends are healthy. all of the sudden see 150 day moving average slowly curling over. now we have negative trends. there's a lot of bearish signals coming from this chart. i want to stay away from this company here. >> leave it there.
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fundamentals positive, technicals, not so much. coming up, the cancer game-changer. the groundbreaking treatment that killed cancer in 88% of patients. we'll dig into that headline and the ways can you trade it coming up. and later, with beef prices so soaring, america is growing an appetite for this type of meat. >> hopefully not the kind they were serving in college. mystery meat. yeah. the economy, not exactly going full throttle, guys. so why is the market higher today? why are some fed members talking about raising interest rates? does the fed see something that everybody else is missing? we're going to ask that question of experts coming up. also what do "shark tank's" kevin o'leary say about facebook's quack zigs of whatsapp? what he thinks about zucker
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big news in the medical world. word a cancer study eradicated cancer in 88% of patients. leukemia patients' own immune cells to fight tumor. in 14 out of 16 of the parent, showing no sign of the d.c. after the treatment. this kind of treatment is called immunotherapy and shown effective in other cancer studies. researchers are calling it great news for leukemia. >> bring in fti consultings barbara ryan, one of the foremost experts in this area. barbara, welcome to the show. what are the most immediate investment implications in this seemingly fantastic news? >> thanks for having me. yeah. i think immunotherapy clearly has had tremendous success and bristol myers has the first immunotherapy on the market, used for malignant mel known
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gno melanoma and leading companies, amgen, insight, all working in this field. novartis. interesting is, nobt only are they showing dramatic benefits basically in allowing to take the patient's own immune system and turn it against cancer cells and fight them, but they're also being studied in combination with existing chemotherapy putic acts. so continuing to move cancer towards a sdheez cdisease that cured or patients maintained and healthy for sustained periods of time. tremendous amount of positive success and data as you're talking about, and a lot of money being invested behind this, and very, very exciting for both the companies and certainly the patients. >> in terms of the large pharma companies, barbara the once you
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mentioned, bristol meyers and merck specifically, are there smaller ones? investing on their own? seems the smaller biotech companies are working on this as well and might be potential takeover companies for the big guys? >> at this point it takes a village and there are collaborations going on with all of those companies working together and i'm sure we'll see other companies like juno therapeutics coming along with advances of their own, and i think as i said earlier, ultimately, this is going to be combination therapy, and, therefore, i think all the players in the field are going to be evaluating what are the best combinations, the best doses, what's the right duration of time. so we're early days, but it's very exciting. >> how about overall, barbara? as you look at the landscape in health care, biotech and the like as we look forward now and the rest of the year? >> very good. we did an investor survey.
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not only buy owe tech the best investing group, investors remain optimistic that will continue into 2014. a banner year for ipos in the sector last year raising $2.7 billion. this year already we have 14 in the space. i think the outlook and certainly with data like this, looks to be quite good for the remainder of the year. >> barbara, thank you for your time. >> thank you. >> barbara ryan, fti. and nat gas up nearly 50% year date. how much that cycle will impact each and every one of us. and bison. it's what's for dinner. taking a closer look at the bison market. meet two guys selling bison to the 1% crowd. ♪ ♪
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many of you at home opening up heating bills over the past few days and have been shocked. nat gas prices up noorn 40% so far this year and half of the homes in the u.s. use nat gas for heating. how is this on consumers and their spending? with us two gurus. sharon, start with you. seems spending more on shoveling and going to put a dmet your wallet. >> with natural gas consumers locked in prices at the beginning of the winter. many utility companies have done the same. while you're definitely pay be more than last year we knew it would happen this fall and got those projections we going to have higher prices. natural gas prices so low. forecast to rise, not as much as recently but expected to rise. they are dercht derchtly defini
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paying more. >> if you're locked in at lower price, will we see feel it next year? >> look what the energy department is predicting in terms of where residential natural gas prices will about year from now, significantly higher than they are right now, and they're going to be even higher in 2015. we're definitely going to see prices rising winter to winter. >> and above $6 for the first time in four years. made distinction yesterday. how high will we go? >> at this point, the majority of increases behind us, unless this weather continues. probably the worst is flou behind us. actually a target for year-end lower than here. we're encouraging people to take profits now as to whether a little more overshoot, entirely possible beventually supply and demand rear an ugly head and back into the 4s. >> it's important for consumers to understand what we're seeing
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in natural gas futures market is a trade. looking at this big spike in the march natural gas futures contract. that spike has not occurred in april or the june contract, and while we're looking at prices that may have been higher for futures than, say, a year ago, nowhere near the same level of price spike that we're seeing in this front month contract, and it's largely due to the weather, but also due to the infrastructure and the pipeline issues we have in getting all of that shale gas, talking about this natural gas boom. yeah, we have great production and a lot of natural gas, but getting it to the right place has been the problem. >> and how are we -- to sharon's point, how are we even having this conversation about splice and demand given the amount of gas we're producing in shale territories? >> sharon makes a great point. sometimes it's not about just having it in the ground. once you get it out, the right place to store the natural gas. >> seems absurd we can't get it
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from point a to point b, fast enough to even having a supply/demand discussion in this country at this point. >> that's the beauty, it creates an awareness and get some of the projects that were shelved back on the drawing board. i think in my mind, what this will eventually do is spur some of that investment that was very much needed. natural gas was languishing at one point. we were even worried about natural gas going to negative prices. i don't know if you remember that. but, you know, so a lot of people just assumed there's no reason to invest in this area. this shows you now that it's back on the table. >> even though we're not seeing a 17% spike in residential natural gas prices right now, i think it's almost great that we are seeing it in the futures market because now people are paying attention. they should realize that what is being traded and what they're paying are two different prices. but prices are going up. that's all people need to know. that's all that washington needs
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to know to perhaps get -- >> and for every dollar higher in natural gas spending equals what to the economy? >> well, we're looking at, according to moody analytics, they're saying we could see an almost $10 billion a year increase in consumer spending on natural gas as these prices are rising. when you look at natural gas rising from, say, $3.50 to $6, that would increase by 0.15% to the gdp. so it is a significant amount. those are the kind of numbers that folks need to hear to get these projects rolling again. >> okay. guys, thanks. talk to you soon. are you buffaloed by beef prices? maybe you should buy buffalo instead or bison, more accurately. cnbc brings you the biggest names in business. sometimes our stories inspire new ventures. jane wells is here to explain the meat of the matter. jane? >> scott, speaking of natural gas, holy cow.
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take a look at feed cattle futures. bison meat still more expensive. now the usda is about to do its first ever bison survey, a validation of sorts of the industry. >> we've got some nice bison burger. >> jeff miller and chris silver are bringing ground bison and filet mignon. they're partners at diamond mountain ranch, selling only grass-fed bull bison meat for around $25 a pound. this is the kobe beef of bison. >> my contracting business actually built the ranch. that's what afforded it. now the ranch is actually carrying the contracting business. i think there's nothing but room for expansion. >> who's buying? high net worth individuals who
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go to farmer's markets in beverly hills and calabasas. bison meat is even being sold at costco. my favorite part of the story, what's an airline pilot doing raising and selling bison meat? he want toddy verse if i his income for retirement. listen. >> i just came home from a trip sitting on my couch watching cnbc. i look up and see jane wells in the middle of a snowstorm in wyoming surrounded by bison. >> i'm here on this 50,000-acre ranch. boom times for this 2500 head of bison. >> i seemed to remember the claim was 20% growth year over year. i went in and started researching it. i found that it was a true claim and it was actually probably a little bit closer to 25% rather than 20. >> see? the biggest lesson he's learned, it's a lot of work. but he expects to recoup his investment in year. is there room to grow? guys, all the bison processed in one year in this country equals only one half of one day of
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beef. so it's still very small. >> all right, jane. thank you. >> we got some breaking news from sochi. let's get to brian sullivan on the phone. >> hey, guys. i'm actually inside the ice arena where canada has just defeated the united states women's hockey team in overtime 3-2. if you have trouble hearing me, i apologize. i can't hear you one bit because it is absolutely -- there are a lot of canadians, but it also seems like many of the russians who were pulling for team canada as well. this will no doubt go down as one of the greatest comebacks in the history of sports. some people point to the u.s. collapse, canada scoring two goals in the final minute. but the u.s. had a chance. canada comes back and sends it to overtime. on power play, canada winning the gold medal in women's hockey. the place just went absolutely
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insane. i literally sprinted over here after my part of the show was over. i wanted to call in. absolutely epic. if anybody says there's no energy and excitement around these sochi games, they could not be more wrong. you can hear the crowd. there's maple leaf flags everywhere. i'm getting chills. i'm not a huge hockey fan. scott, i know you are. but i've never been to something like this. it is absolutely unbelievable to be here. >> two biggest rivals in that sport. canada defends its gold medal. i knew something happened when the collective sigh in the newsroom was heard and certainly felt out here, brian. thanks so much. >> sure thing. take care, guys. >> brian inside the ice arena where canada defends its gold medal. while brian was in sochi, we wanted him to get full hands in olympic experience. we sent him out to try out two of the winter games' favorite sports. bobsledding and the skeleton. so take a look. >> how do four guys sit in here? besides very carefully.
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dream come true. i told you i was heavy. >> he's a big one. >> it's like four big guys trying to get in a bathtub. >> cut, cut. so we learned about the four-man bobsled. let's learn about something that looks, to be honest with you, completely insane on television. matt, skeleton slider. it's a pleasure. mind if i get on your sled? >> i would love to see you down there. >> i may not get back up. this is not going to be -- you think this'll make one of those blooper shows? is there any special way to get in? >> make sure your head is up there. >> yes, yes. i've got that far. like this? >> yep. then just get your hands into the side. there's kind of some handles under there. may not fit exactly. try to get your hands right in there. >> okay. >> you can push yourself up a little bit. you definitely don't want your
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elbows pointed out. >> push myself forward? >> there you go. don't want your elbows out. if you hit the wall, that's the first thing that's going to make contact. that's not going to feel good. >> that looks absolutely insane. i hope he'll put on a helmet. >> i was hoping to see him go down the track. >> you have to say, look, in terms of the market, pretty good day. if you figured you were going to get an apple downgrade from a major firm and walmart would give you an outlook that certainly surprised some people and to hold up with a more than 100-point gain for the dow, impressive. >> not bad. be sure to catch "fast money" tonight. we're streaming online. thanks a lot for watching "street signs." >> "closing bell" is next. i'm beth... and i'm michelle.
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and welcome to "the closing bell" on a thursday. i'm kelly evans at the new york stock exchange where stocks are rallying despite the fact that interest rates are moving up as well. >> i'm bill griffith. we are in rally mode. the dow looking to make up what it lost yesterday and then some at least right now. even though there are concerns that the fed was going to tighten sooner rather than la r later. some of the economic data today not all that impressive. >> i think investors are still using the weather excusehe
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