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tv   Street Signs  CNBC  May 23, 2014 2:00pm-3:01pm EDT

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have a great weekend, everybody, and remember why. >> that's right. "street signs" starts right now. we'll see you tuesday. as the home audience laughs and applauds as putin speaks, we dissect and critique. a biotech soaring on surprising news we'll be speaking with the cfo. with you high flyer getting even more love today. and summer is around the corner, slap on the sunscreen and peruse our summer stock watch. scott cohn filling in.
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>> thank you f. mandy. wow, mary thompson at the new york stock exchange, a little gain before the holiday? >> i know. we like to see that. light volume, no surprise there, because the markets already closed, and some concerns about the ukrainian -- so volume is a little light. the s&p is on track for a record day today, a record close, about three points from the all-time record high. the transports also are trading in record territory today. let's look at some of the dow leaders today. the dow is up 55 points. visa is up on the news that it and its rival mastercard will continue to do business, despite very steep deposits that russia is asking for them to do business. but investors like the news. followed by disney and caterpillar, also united healthcare gives a lift to the blue chip average.
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again on what would be a record-setting day, consumer discretionaries helped by those home builders. and also some good retail news from a few of the fashion's retailers. we want to close out with two companies who went public on the new york stock exchange today, energy priced at 18. that gain up 19%, and heritage insurance which priced below its range at $11, but nevertheless a nice gain. guys, back to you. >> mary thompson, thank you very much, with the big story today as president putin, speaking inclusively to geoff celtmore, it was a very wide-ranging interview from ukraine to putin's thoughts on president obama. well, joining us to break down the putin-speak is john jensen, also our very own steve liesman. welcome to both of you. you know what, guys, we're going to play a couple sound bites, then i want your reaction.
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they see were translated into the england, so you'll hear a female voice. let's hear what putin had to say about this weekend's upcoming presidential elections in ukraine. >> translator: i want to see the country emerge from this proj t projected crisis, and we will have respect for the choice that the people will make. we will watch very closely what will happen. >> okay. so mr. putin says, don, that he's going to respect the outcome. sure he is, we believe him, right? >> sure we do. he's said a lot of things in the last three months, many of which turned out to not be true. after having waged a low-level war against ukraine for the past three months since yanukovych failed, i think he's discovering that his strategy hasn't worked, but also that russia has taken a
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lot of hits internationally for what he's tried. i think it makes sense to pause, see who's elected, see if they can do business, and then keep pressuring the ukraine in whatever way they have available to them to keep ukraine out of the western orbit, which is his ultimate goal. >> steve, putin also said, we'll expect the results, being jan cough itch is still the legitimate president. >> so that's part of what he does. they'll say -- >> which you have done for a number of years. you used to live there. >> you used to go to press briefings and hear minister give dimetrically opposed views on the topic. in this case it's coming out of putin's mouth. i hear in his comments a bit of an opening. i think it will be hard for him if the elect goes reasonably well, which there's a big question mark. we understand there's already renewed violence, but what you want was interesting.
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he's coming to a point he's realized the strategy has not worked awfully well, and there's nothing lost here saying we'll negotiate. >> even if the strategy hasn't worked well, is he in a situation when he can't back down. you have inflation soaring at home, the russian economy is potential going into recession, yet all these things he was saying on the stage were met by applause from the audience. he has a lot of approval back at home for his strong stance. so you think it's a situation when he's kind of in a corner as well? >> absolutely. his polls at an all-time high. he cannot be seen giving a lot to the west, either on crimea or on the future of eye crane. there's not a lot of wiggle room he has, which is critical in this crisis. >> let's move on to the sanction, speaking about the economic impact on russia, let's take a listen to that. >> translator: isn't that obvious, the economic sanctions
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as a tool of political pressure in our more than abundant world have a -- effort and eventually they are going to affect in a negative way the business -- to the sanctions. >> don, as an australian, i know what happened when a boomerang hits you in the face. what kind of effect do you think we'll see? >> one, they are concerned about a third round of sectoral sanctions, especially from the u.s. that has tied by the white house to appears not to interfere in the elections. secondly, he knows the italians, french and germans are very am biffant about moving thursday, this is a veiled threat. if he finds western counter-pressure to be too much. >> steve, from an economic standpoint, what do you think is happening on the ground in
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russia? we know some businesses are having trouble funding and some of the other issues you would expect to crop up in the face of big sanctions. >> from the central bank estimated they would have between 85 and 90 billion. that's not a small amount of change, even for russia. i think they're having an effect, and i think the real boomerang took out a bunch of executives that didn't show up. >> i think a lot of western executives were warned. >> in any event they didn't go. i think that affects putin. putin is acting from a position of weakness. he lost the ukraine. his guy was in charge, his guy is gone, and he moves his chips along the border to still have a card to play, but ultimately he no longer has ukraine. this sunday's election could pak his defeat that much worse. >> i agree, steve. they've consistently miscalculated ukraine. i think for the past more than a year, especially sticking by
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yanukovych when he had absolutely no support >> i think they're miscalculating in eastern ukraine. there was no general uprising. he fomented some civil unrest, but partial they were not joined by, which is why the strategy looks to be changing a bit. >> absolutely. a lot of the ukrainian journalists joked that the done -- >> this situation within the rush stock market, i bring that up. some been is making money over there. >> and it also fell pretty precipitously. so it's kind of back where it was. russia has always been a place that is -- makes a roller coaster seem like a placid ride. when you go in there -- i think we calculated one time that there was a 30% increases, but
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there was no year over that period of time that saw anything like around 10% or 15%. it was also zero other negative or way up. not a whole lot of liquidity in there, not a lot of market cap in there, however, huge gains and huge losses. >> but a lot of caution, a lot of companies putting off investments in the country. one more bite, guys. the russian president was asked about what he thinks of president obama. this is his response. >> translator: who is he to judge, seriously? if he wants to judge people, why doesn't he get a job in court somewhere? >> one word -- very disrespectful, wouldn't you say? >> i'm not quite sure what he's thinking there. perhaps that was one of the comments made more for an internal audience than for the external one. i think obama would be well not to be fazed at all. a guy saying that stuff is
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clearly bugged by the guy he's talking about. >> don, you have a responsible to what the white house is reacting to internally? >> i can't speak for them, but i'm sure there's not much new here. to add to what steve said, putin is incredibly thin-skinned. lastr. so i think putin both crave western approval and esteem and rejects it at the same time, which of course the bottom line is an insecure leader. >> very, very quickly, he outlined his plans for a urailings economic union, which means -- >> they've been talking about an allyian with china for almost 60, 70 years. it's never come to pass, in part because it's never been in china's interest to align itself all that close with russia. i think this is a card they've played before, and it doesn't work too well. >> we will wait and see. thank you, don.
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steve, thank you for dropping by as well. still ahead on "street signs", is what is happening at the v.a. just a preview of where obama care is headed? larry kudlow weighs? >> and two all-star fund managers join with their favorite picks, "street signs" will be right back. i don't want to think about the alternative. i don't even know how to answer that. i mean, no one knows how long their money is going to last. i try not to worry, but you worry. what happens when your paychecks stop? because everyone has retirement questions. ameriprise created the exclusive confident retirement approach. to get the real answers you need. start building your confident retirement today. for what reality teaches you firsthand. in the face of danger, and under the most demanding circumstances. experience builds character. experience builds confidence. and experience... has built this.
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dog: get four years get four years interest-free financing on the entire tempur-pedic cloud collection, even a queen size sealy gel memory foam mattress for just $497. mattress discounters' memorial day sale ends monday. "wall street journal" is out with an editorial saying the v.a. scandal is where a precurler to where obamacare will likely end up. that's what larry kudlow has
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been saying for a while. how does one resemble the other? >> it's important to understand this v.a. scandal. this is not simply a management issue, and this is not simply the malfeasance of general shin she couldi. maybe he made some mistakes, but this is because the v.a. is the purest example of total government-run health care, okay? it's a little pocket of socialized medicine. it looks just like britain and canada with rationing, price controls, long lines, bureaucratics inefficiencies, including the fact that bureaucracy has tried to cover up 40 deaths at least and long lines in about six or eight v.a. centers. so you have to say to yourself, okay, i put somebody new in there, fine. if you don't change the system, you're not going to change the problem. i'm so glad to see republicans -- because republicans have never had the backbone to call for some private free-market competition in the v.a. system.
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they have always failed to do that. romney failed to do it in the last election. now john mccain and a group says, yes, it's time to put some competition in there. >> let me ask about the money. you mentioned the long lines and rationing. you have exploding demand for as much as and don't have unlimited funds, you get that kind of thing in a medical system, but you say it's not a money problem. >> the money has tripled in the last ten years or so. it's tripled. and basically the volume of veterans they're treating has come down. this is very important. so you can't jay rockefeller calls it a money problem -- it has nothing to do with a money problem. it's an incentive problem. you know, 40% of veterans administration is medicaid. medicaid is another government-run operation. that's yet another problem. why not give the veterans the money in the form of vouchers, and let them shop around for private health care?
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let them do that. see, this is what the problem is with obamacare. what troubles me is we will never have real free choice in obamacare. it will wind up liking like the v.a. >> is it unfair to lump the two together? the jury is still out on obamacare at least from an adoption standpoint, despite the bureaucratic issues that existed. can we really make the comparison between the v.a.s and obamacare at this point? >> no, obamacare is different from v.a., though it overlaps. there are some parts of obamacare, particularly the medicaid piece, when is exactly government-run, there is other nugget inside obamacare is state-run. obamacare does have some limited private choice, okay? so as yet, we haven't seen that. many of us have always been worried from day one that over a period of time, typicallily if
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the democrats win these election in 2014 and 2016 that obamacare is a step toward government-run health care. and the thing that's so striking is the long lines and the complaints, and the bureaucracy failures, this is exactly what you see if you read the headlines in the british newspapers about the british health system. this is exactly what you see if you read the canadian newspapers. this is what happens. without any profit incentive, without any free market competition, what do you expect? shinseki may have to go, obama is in trouble with this issues. >> ten seconds -- should he resign? >> i don't really care, to tell you the truth. the gao has looked at this many times before. you know what they have said in the bureaucracy refuses to account properly for the services and their cost, and they cover it up. i don't know what they're going to do. >> enough problems as uncovered by cnbc on the gop side of the
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ball, too, within the v.a. over the last several years as well. so it's been a bipartisan debacle. the filth at walter reed and all that stuff. >> again, it's a systemic issue. if you don't put private sector market competition and profits, you're never going to be able to run these things efficiently. again, i would argument, with respect to republicans, i remember the walter reed issue, but the real issue here is you've got to make systemic change. the gop has got to have the backbone to say let's put some private competition in. the vfw has always opposed it, and therefore they're hurting their own veterans members. now is the time for private reform. >> larry, always good to have you on the show. thank you very much. >> happy holiday. >> and good to see you. we did release this documentary" death & dishonor."
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do check it out on investigation in inc.cnbc.com, and big credit to our producer. big news regards the clippers. dominic chu has the latest. >> this is progress on the potential sale of that nba franchise. sources familiar with the matter have told nbc news that the embattled clippers owner donald sterling has ceded control to his wife rochelle, shelley, sterling. it will be shelly handling the sale of this team. according to mitch emner, this move still needs to be approved by the nba. the nba will likely only approve this ownership transfer from donald to shelly if it has a binden agreement from her to immediately sell this team. so what it move could do is allow an orderly sale by the sterlings, and aallow them to control aspects of getting the
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best price possible for their franchise. the shelly sterling camp, according to sources, says that rumors that she would sue the nba is not true, all this while dick parsons is acts as the interim ceo of the clippers. the nba is releasing a statement in response to these reports saying, quote -- we continue to follow the process set forth in the nba constitution regarding termination of current ownership interests in the los angeles clippers and are proceeding toward a hearing on this matter on june 3rd. so mandy, scott, what this is is the next chapter in this. we'll obviously be following the story very closely. >> there are more to come, very clearly. up next, america's hottest housing market. we'll tell you where it is. one boy tech stock -- and the reason could be a total game changer. "street signs" is back in a couple minutes. ♪
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a fresh sign, new home sales jumping 6.4% in april. let's bring in diana olick. diana, the data take today out of the equation, at least as of
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late has not been great. >> no question, let's take a deep dive. >> signed contract to buy a home in april, up over 6% month to month. from a year ago. at this pace, we're still 70%, so think of it this way, not only are these government numbers very volatility. >> so what's the headline here? and the median price for a new home fell 1% builders had been raising prices, but material costs are coming down a little bit, so that could account for some of that price drop, a boost
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in supply all good. >> thank you very much. stick around, diana. still, though, and could some areas may be getting too hot? what have you found, brad? >> one of the things we're seeing is clearly sales have come back up. but what was happening all year is traffic was drawn, as people that's what the builders ward to see home of the people actually sign up to buy the house. are the builders have been to -- or drop their prices at all to fuel these sales and in part fuel the number like we got today? >> we did see the 1% drop, but when you talk to folks on the
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street, they say, yeah, a lot of traffic, even trafficking the website low-priced first-time buyer targeted home. they designed a model that's smaller, very basic, you don't get any upgrades, but it's a lower-priced home. as for some of the other builders, they say all the action is on the high end, so they're focusing much more on the expensive homes. >> well to break it down market by market. you have a couple places where fundamentally there's a lot of demand. the real problem is labor shortage. >> there are some big issues, in some parts of texas, denver, parts of florida, and there are
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a lot of shortages we'll get to in a minute. a lot of area they're holding up prices we found that 7% of the -- actually went down in the first quarter in price, so we're seeing that adjustment going on. in a way that's old news. things were very slow, and we see things start th starting to improve now. >> those are tough markets, because you have a lot of activity going on, are the i
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would look at those formerly hot markets prices are moving very fast, so it's still some of those dicey markets from the crash that you have to watch. just shy of 16,000600, but volume and volatility has been -- since 1987 later on. >> this weekend marks the unofficial, so from now the high
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recommendations. >> first up, fire eye is moving higher. >> like this guy, has created more compelling buying opportunities for longer-term investments. they did cut their price tag from 40 to 50, but -- you can see it on the board of 33 bucks. you with see above 8 p 50. >> it is. cue the deck. aflac is moving lower. from they're also cutting the
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price target. they cite concern about -- about, what is it? about 8% year to date. with a buy rating to treat skin infections. now time to talk numbers. our daily look from a technical perspective. it is un37%, so let's talk some numbers with ari wad, and ron dotten. of rbc capital markets, the technicals on love. >> technicals are a hold right he here. >> very strong .
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it just came out of. i think it projects to two days higher. i would be looking to buy it on the tests back to the prior range. >> what about fundamentally thinking? what does it tell you? >> i would -- there's no reasonable to selling it, and there's long-term upside. it would probably rise from
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here. the airline industry has been great over the last few years as they've reduced capacity. we don't think that trend will stop. >> finally a good sector to be in. thank you very much, guys. >> they're going to make a lot of money this summer charging for bags. >> plus everything else. to drink a glass of water. if you want more, go online, but also let's look it el russell 200. it actually hit correct territory. a guest says now is the time to jump in. you look at some of the charts, mandy, we've been in a trading range for a while. each time we bump down to that low end of the range, the russell down to its level where
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it's in correction territory. 10% off the region's high, that's when our next heading into the memorial day, people are talking about the capital book, we're going to ask about that, about inequality, which is such a hij issue. >> it is. we've got a lot to cover, last hour of trade, always the most important. >> and how perfect -- i was going to say even at that discussion is going, you know we're probably going to close today at record highs. >> oh, by the way, right. exactly. >> we look forward to it. thanks, guys. there's a biotech stock getting a huge pop today, called ptc therapeutics. why it's jumping and why the company's cfo, and that's when "street signs" returns. tdd#: 1-800-345-2550 trading inspires your life. tdd#: 1-800-345-2550 life inspires your trading.
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it sure is. >> the reason is getting approval of their drug -- now this is a really important day for this company, because it's a severe disorder, affecting very few patients it affects mostly boys, can put them in wheelchairs and fatal by the age of 30. there are no good treatment options here. this is what they call an orphan drug. here to tell us more is the kreismt fo. >> thank you for joining us. >> big move for you in europe. when will this drug come to the u.s.? >> today is exciting day for ptc as well as the due shen community broadly.
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it's a landmark decision recommending approval of our drug for treatment, and from a mechanic temple of action really treats the underlying cause of the disease, and as you questioned, in the united states we had dialogue with the fda a number of years ago and their feedback was asking us to do a second study, which is ongoing today. that's study will be fully enrolled. >> you almost feel as if the investment community wasn't expecting this. i understand that you committed it to the europe ran regulators last year. so what was it in the data that was different this time around.
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>> a large dialogue, helps to the european authorities really understanding the background of this disease, how it progresses in these boys, how they lose ambulation. >> the data shows more efficacy of your drug? >> and having to understand the data we have to date and the ongoing study, looking at the data, understanding what can be expected from a dystrophy replacement therapy, which is the protein they're missing. >> what's the time frame from conditional approval to actually being on the shelves? >> that's a great question. we're not fully approved yet. this is a recommendation of full approval. we should have the final approval in europe sometime in the next three months, then you go country by country looking for access in any given country. >> how many employees do you have? >> about 160 employees. >> so, you know, pretty small place. you guys are here in new jersey, right? >> yeah. >> what's the reaction? >> we're ecstatic. >> when you see the stock do
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what it did and getting the approval? >> the company has been active at it 16 years. and our founder start this had back in the late '90s. that's how long it takes to develop the drug. >> so there are a couple other companies working in this area, and even with the bump today, your valuation may not be matching that of the other company. investors, even after raising the stock, might be missing something? is there something that's still not putting you on par with serepta. >> it's a great question, our dreg has potential in a number of different monogenetic disorders. and there's a deep pipeline behind it. i can't comment on the valuation and relative valuations to our peers, but i just we're happy for the patients and the families itches that's what it's always about.
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thank you for sharing the story, and thank you to meg. >> thank you. whether you're driving somewhere or staying at home and grilling, your memoriam day weekend will cost you. the high details of about the costs of fun. 6 if i told you that a free ten-second test
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6. here at "street signs", we generally hope you have a lot of fun this weekend. the unofficial start of summer, but we hope you have a lot of money saved up. it is going to cost you. we have jackie deangelis on gas, jane wells on food, and morgan brennan on the movies. jane, kick it off. >> well, mandy this goes costing me a fortune today to do these live shots. we're burning through the cash. that is much higher than the overall rate of inflation, but beef prices are particularly high. this is the time of year when both consumers and restaurants compete for lower supplies, a lot lower, the usda says froch beef supplies are down 21% from a year ago. we're clearing out the freezer. we have less beef. ranchers started winding down when beef prices hit records two years ago. now prices are back down into normal range, so ranchers will start to ramp up.
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>> it's going to take two years to alleviate this shortage if the farmers come in and the ranchers go back into the cattle business, but this is the biggest shortage i have ever seen. i've been in the business -- i hate to say, but 60 years. >> cattle futures have started to pull back market catch prices, processing plants prepare to close. rhodes says it's so crazy, his last shipment of beef was the same as before, but it cost $,000 more. it's not just beef. pork is high, chicken too. jpmorgan says this is positive news for companies like sanders and farm which buy feed at low prices, sell meat at high prices, also slightly good for tyson, not so good for hillshire. but for propane? propane is up also 12% in a year. tell me what's going to happen
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at the gas pump, though. >> hey, jane, thanks for that. from propane to prices at the pump, more than 30 million consumers and drivers will hit the road for this summer, and the madness will kick off this weekend. i'm afraid i don't have very good news about gas prices, the european national average is $3 puff 90. that's pretty much flat from where we were at this time a year ago. down a couple cents from last month, but of course you have to consider that traders are saying they consider these crude prices very high. gasoline futures as well. in fact the highest they have been in the last month or so. we are likely to see more futures price hikes in the near season. of course, the peak demand for summer driving season is the fourth of july. from now until then, traders are saying expect the gas prices to slowly creep up. take a look at crude oil. and says gasoline futures, they have really risen in the last few months or so since february.
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couple all these factors together, and this is what the gas price is really based on. higher gas prices, of course, they do impact the economy, as consumers are paying more, they will be spending less on other things, even if it's unconscious. that's what analysts what analysts are saying so consider these things very closely and a lot of people are saying higher gas prices almost like a tax and certainly americans don't like that. if you're hitting the road this season and maybe you're going into the movies, morgan brennan i know you have the details on that. >> i do, and this is a ticket. this is a movie ticket to the new x-men movie in 3-d. this cost me $15.25. now to be fair we're in los angeles where the cost of living is very high, but across the u.s. we've been seeing movie prices rise, that's despite a drop in attendance over the last couple of years, so the average price of a ticket in the u.s., $7.96 in the first quarter. that was two cents higher than
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the same time last year. according to the theater owners association. now expect that to climb. ticket prices are seasonal, and summertime is the busiest, pulling in nearly 45% of annual revenue from may through august. last year memorial day weekend grossed a record $312 million, and experts are expecting strong numbers this weekend as well, but a lot of this is going to depend on this new "x-men" sequel. it would rack up over $120 million for the four days but who goes to the movies empty handed. you've got to have snacks, and the theater here, a large popcorn and soda combo will run you $13.75, a huge markup, but since 70% of your movie ticket goes to hollywood studios and distributors, it's these could be -- the concessions that keep movie theaters in business,
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movie ticket, popcorn and soda and $2 for parking here at universal city walk, my trip to the movies this weekend, it's going to cost $31 and that's by myself and without gas prices. >> i'm taking my boys to see "godzilla" tomorrow and the popcorn and the milk duds and the coke and the this and the that and the next popcorn, you know, you've got to do it. what's the point of going to the movies otherwise? sit at home and watch a dvd. >> thanks very much. that's basically how much this weekend is going to cost you. all i'm going say is hope you enjoy it. we're going to tell you how to make some money this summer as well when "street signs" returns.
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powered by active trader pro. another way fidelity gives you a more powerful investing experience. call our specialists today to get up and running. this weekend, of course, the unofficial kickoff of the summer so lettell you about some summe stock plays. mike, we'll begin with you first. aloud of fords on the road this weekend. why do you like the stock? >> i'm going with the theme right now of lower pe multiples and stocks that pay a nice dividend and that i think are very high quality. ford fits all these camps. it's been an investment year for ford. hurt their profit margins and hurt their earnings, but i think we're coming to the conclusion of that and looking to the back half of the year i think the investment initiatives and now products will pay off. i think earnings will start to grow again. this stock isn't really a rocket ship, but i think it can move
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from 16 to 20 in 12 months which is a decent return. >> really underperformed the market year to bait, only up 3.7%, as you say, because it's been hurting in margins and also earnings, but i want to get to you art. net scout, what do they do and why do you like them? >> that's a great company that if you buy on memorial day you'll be very happy come labor day. it's a monitoring -- a network monitoring equipment company so think about somebody that sells into a verizon or large private network. it monitors and diagnoses problems over your ip network and so much as they say hardware and rent you the software and these guys are growing in the mid-20% and revenues trading ten times revenue. people should take a good hard look at. >> mike, jc penney, positive comps for the first time in what seems like forever. why do you think it has some staying power here and it hasn't
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seen its better days from the bounce. >> the fact is we have a new ceo who was the old ceo. he's produced two quarters of above expectations type of numbers. he has the trajectory of comps. he has the trajectory of profit margins and cash flow all going in the right direction. he's bringing back the core customer base. i mean, this customer base loves sales and coupons and they are starting to come back. >> so i think the turnaround is in place. i think bankruptcy is off the table, and now it comes down to execution, and if they have a third quarter that is a positive surprise, i think this stock has some legs still. >> you also have matador resources. this was intended for street talk because warned lick securities cut the price tart down to 31. you're also in the buy camp. >> absolutely, mandy.
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one of the -- these guys know the right zip codes to be in and know how to perform and trading a discount to the peer groups and in the numbers is a huge chuck of products in the utica shale, 22,000 acres that's becoming more economical every day so matador is one of the unsung heros trading at a discount. >> monmutt, i assume it's a reit. >> it's a small-cap reit and priced the secondary. instead of going out and buying krrts they construct and build them and have an a-list of clients that they sign long-term leases to. fedex is their largest client. they have a big concentration there. some people might think that's a problem. i actually think that's an asset. they are very high quality. the management is very conservative. i just talked to them.
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very comfortable with the 6.5% yield that they are producing right now. >> gulfport energy is yours on the list. they are underperformed the margins. >> they just had a quarter where they set expectations to a level that's achievable, and they are looking at 200% production growth so we're talking about a company that's trading at a significant discount to its fast growing peer group and growing production significantly faster than that group. gulfport is a utica play and probably have the best acreage in that shale and are producing at great rates and gulfport is one of our favorite names. >> all right. guys, thank you very much. mike and art, you guys have a great holiday weekend, okay. we'll see you on the other side. >> why don't we take a quick look at market before we go. we're backing up against records here, right? >> setting up for our best day in more than a month, know.
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may for the most part has been a pretty big sideways month, tightest range for stocks in the month of may since 1987. today a better than expected new home sales report, some of the home building stocks and that's the picture as most people are heading out and getting to wherever they are going. >> everybody travel safe, have a great long weekend. see you tuesday. >> here at the new york stock exchange, i'm bill griffith. this is kelly real size. as we head into the long memorial day weekend where we could finish in all-time high territory for the s&p 500. we're there now. >> that's right. so the trading high was just above the 1900 mark.

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