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tv   Street Signs  CNBC  August 5, 2014 2:00pm-3:01pm EDT

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right to the area of the border. let's bring back the panel. art, anything in that news flash that would color your view of the rest of the day? >> not really, with all due respect to mr. sikorsky, i think the plunge we saw was internal and technically related. i think for the rest of the day i'm going to watch two things, the broken support at 1926 and the s&p 500 now becomes resistant and 1916 is key critical support. >> i'd like to see something from the ukrainian government whether they think there's an invasion that's imminent. the polls have made comments before that are hawkish. >> thank you for joining us, everybody. >> here comes "street signs." see you tomorrow. stocks resuming their slide as russia heats up and the ebola scare continues. hi, everybody. all of a sudden it's a busy day.
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mandy, let us know where we are and what is going on. >> let's look at the chart behind me. stocks rolling over literally in the past 30 minutes, we're now down by triple digits, 160 points still losing steam. if we come over here, a couple biggest losers are chevron and exxon. we're going to bring you more on that later on, but in the meantime i do want to get down to bob pisani and rick santelli. they've been digging in on the slide. >> well, the immediate cause of the drop appears to be headlines coming out of polish foreign minister who gave an interview recently. mr. sikorsky, who said that russian units were poised to pressure or invade ukraine. that's exactly what the headline says, poised to pressure our invade ukraine. we know the polls have been hawkish. i think everyone would like to hear on the floor a little more klauerification from the
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ukrainian government or u.s. government, is there any kind of suggestion or imsome hostility may be imminent. the dow dropped about 100 points on that one. mandy? >> thanks very much for that, bob. i also know that some key technical levels may have been -- but rick santelli, what are you hearing in the bond pits? and what is the reaction in treasuries? >> most traders this morning were looking to see if it had enough sell-off horsepower to move yields clouder to 255. look at the intraday chart. we were somewhat headed there. we had very strong data, 8 1/2 year best in terms of nonmanufacturing ism, but it all changed. look at the charts dipping. traders down here are looking at stocks. every time stocks get iffy, more important, they do agree with the technical nape of the sell-off in equities. they have their own technical area. boy, we've been knocking on the door of this. if we go through there, stocks
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will change and pay attention to dropping interest rates later in the day. >> that's the question i would have, rick. art cashin has been around forever and knows everything about the market. would a technical drop in stocks also move the bond market as well? >> lynn, any drop in stocks most likely is going to bring in buys, especially when you see the dow is under 16,5. because these technicians are on red alert. the problem comes in when stocks stabilize, interest rates don't seem to be ago buoyant, which means the bond market is a bit biased based on watching it every day, it seems to be buyed that weakness is the trade du jo jour. >> but it goes to the
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jitteryness of this market. let's just hope it's hyperbole, maybe trying to stir the european groups into action, but it shows how jumpy we are. >> absolutely. the poles have a stake in this, and they have been on the side expressen concern. let's just try to figure out the facts. i don't want to quite cause and effect. undoubtedly the market hits technical levels all the time, but it moved in proximity to the headlines. technicals may have exacerbated, but i'm quite sure the headlines is what were passed around here. certain sectors were weak. oil has been down for a while. today sectors like the xop were notably weak. some of the big shale names were weak. some earnings report were a little disappointing, so there's pressure there as well. >> and the europo currencies weakened a bit, too, which gives some credence at least to the
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notion that that headline was somewhat of a catalyst in an already dry tinderbox of selling. >> bob and rick, thank you very much. no doubt if this keeps on we'll talk more about what's happening in the markets. >> meg, this is short-term stuff, let's hope. let's hoe this is hyperbole, a headline, and we come to our senses in a few hours or few days. your clients are more concerned about longer-term investing. >> they are. >> what are you advising them to do, giving that everything in the past month has suddenly gone on around in the world? >> we say to them the things we have said for many years. what do you like? let's buy good stocks and hold them. what was buy and hold for a generation ago is a very different buy and hold than today so among or holtz would be, for instance an apple, which i think is the new blue chip.
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we've done extremely well with apple. we love underarmour. wicking perspiration away from your body, does that sound sexy and exciting? well, i guess it depends, but the stock has done incredibly well. so we have what we consider to be the new order of stocks. we hold those at the same time we're keeping a good eye on the bond market. whenever we've got interest rates down as low as they are, we see the fuel continues into the equities market. a day like today, it gives you time to look around and decide what you're going to buy tomorrow. >> if you take that longer-term view, just provide a better buys opportunity. mark, what kind of view are you taking on what these potential headlines to bring to the market? and what would you do as a result? >> we're taking a longer-term view as well. when we look at what the stock market is doing, we're currently in the phase of the fed funds rate cycle, where money is easy and obviously the fed is still
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easing, and annualized returns since 1961 in this phase have been 23% a year. as we begin to move into the next face, we're expecting the fed funds rate to lift off maybe may, june of next year. annualized returns are still 10% a year. so there's still room for this bull to run. i think a lot of the big gains have been made. >> but as you say, market, when the fed does start tightening, being in the right sector -- what sectors would those be? >> right on. in order, the best reporting sectors in the 12 months following the rate hike would be technology, energy and then we start to move into the defense i have been sectors, health care, utilities and consumer staples. so structuring your portfolio like really a barbell structure is really the best bet. be specific with which cyclicals
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you hold, and begin to accumulate defensives as well. i guys, sit tight. we are now at session lows, the dow is down 178 points. there are only two stocks in the dow that are higher, procter & gamble and boeing. so not a stretch to imagine we're going to have 29 of the 30 dow stocks lower in just a moment. the ten-year bond yield is also going down, because more people are moving into bonds, yielding 10.47% and cash is flowing into the u.s. dollar. the dollar indense up 0.3 of 1%. meg, i'm going to go back to you. i understand you are longtimers, but how closely do you have to have your clients watch all the geopolitical events that are going on right now? >> clients watch this all the time regardless, so we don't have to worry about if they're watching. they are watching it, believe
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me. and then they fall back to the names they know and the things that they do. they have seen the flow of funds coming into the understand from oversea buyers, because you still can be sure -- you don't have to worry about the government stepping in, the issues that russia has right now, the issues that china has, the issues we're seeing across europe. those are not issues that affect the psyche of putting money into u.s. dollars. are they effective very positively towards the u.s. dollar? so our clients see that. we especially see it in beverly hills. we're seeing a lot of overseas investment coming into the california, the western united states. so our people are very much aware of that, which is why when they look to the portfolios, they either say what seems to be a fail-safe, interesting that procter & gamble is up a penny today. procter & gamble, is that exciting? is it basically absolutely it's basic. everybody has a product in their house so, that tends to be the
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way our clients think and the way we encourage them to think. >> and currently down by 194 points, at session lows. mark, the other headline that brian mentioned is ebola. when you start to see ebola increasingly on our screens and newspapers, you would imagine that it would have a psychological impact. as someone who lived through the bird flu, sars crisis, it has an economic impact. people stop going to place it is of congregation. mark, is this something that you think the average u.s. investor does start to take account of? >> it's absolutely terrifying. you know, issues like this, whether it's a geopolitical -- they definitely cause short-term market volatility, but over the long run, typically these incidents tend to be good buys opportunities, so yes, you know, we would expect an increase in volatility in the markets, but
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overall, as long as you're really identifying the specific sectors and stocks you said to be in, you should be okay. >> what buys opportunities are you seeing right now? i know in health care, certainly not ebola related, but nonetheless you like j & j. >> we do. probably one of the safest dividends in the world due to the size of the company geographical diversity. you get into you tilts, we like southern company. they've had some pretty heavy spending, but they're really at a point where they begin to scale back on capital expenditures which should help to dry future earns growth, as we get into future staples, altria sells pretty addictive products and they have pricing power potential. so it is to their benefit. when people are stressed out, they tend to smoke cigarettes. i'm not a smoker myself, but that's the rumor, right?
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>> it is more than just a rumor. thank you to both and thank you for reacting to the headlines of the day. >> thank glue interestingly enough, the dow at the low of the session here. i'm going to run through some stats. 23 ten-year bondees at 2.47, which to rick's point goes to jess, they are d. but we don't see money correlate into bonds. stocks sell, bonds go up to mark temperatu teper's point, you made these comments about what you do when you stress out, maybe a gress or a drink. brown foreman is higher. the defense sectors, all four of those names are down. >> if indeed the dow does finish
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the day down, it will be the eighth time in ten sessions. we're of course watching what's going on. it was already a down day to begin with, but obviously we have taken a turn for the worse. right now you used to sleep like a champ. then boom... what happened? stress, fun, bad habits kids, now what? let's build a new, smarter bed using the dualair
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. oil prices are hovering, also united health and merck, chevron and exxon mobil good for more than ten-point losses from the dow today, boeing is the only dow component so far in the green, though that is wavering a bit. some of the high-priced name will move the dow the most. exxon, chevron are some of the ones having the most impact. back over to you guys. one sector etf is higher on my screens by a scant, what, 0.2. iyz, the dow jones telecom indecent, those names of dividend payers, so people coming into where they can get some relatively safe income. that's pretty much the only
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green on my green. screen. outside of this, we'll have full market coverage, but there is other stuff happening, the second known american infected with ebola arrived in atlanta about one hour ago. separately two people, one in new york, the other in columbus, ohio are being tested for ebola. that's key. no confirmation, after exhibiting symptoms of the virus. hospital officials in new york do add it is unlikely the patient there has ebola. >> so if more patients are being brought into america for treatment, are u.s. hospitals prepared? we're joining us now dr. peter hortense from baylor college of medicine. it's great to have you with us. it's a scary disease, because there is no specific treatment, there is no cure and currently no vaccine. the question is how bad could it get in the united states and are we prepared?
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>> i think it's important to remember it's a scary disease, but also a very rare disease. even in the affected areas of west africa you have a combined population of about texas of the the number of people who -- and we have great compassion to them is about equivalent to the number of people wo -- who die in drunk driving accidents in an area like texas. >> the risk of ebola coming to the united states is very low, and i think is not a cause of great concern. >> doctor, you are making perfect, rational logical sense, which is great. we need that. unfortunately we don't always act -- >> there's a enormous amount of hype about the disease. we have to remember that even if i were to list africa's five worth global health threats, i would not put ebola on the list. remember, the number of people
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who die from malaria every day in africa exceeds the number of total people who died from this -- >> agreed, but it's because perhaps, doctor, that ebola is so strange and so rare that we react this way. i will push back a bit and say we learned today that both emirates, the biggest global air carrier and british airways have stopped flying from guinea and liberia. are they overreacting? >> it's difficult to judge, and we have to be concerned about perceived risk, but right now we're talking about mostly about perceived risk than we are actual risk. i mean, the truth is we have 10 million americans every year who suffer from tropical diseases in the united states, mostly in the southern united states, mostly because of poverty and warm climate rather than through immigration, and we do very little to address that. so we have real health problems in the u.s. that we're not even
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addressing that are already here much less the imaginary ones. >> do you think that something because it's hitting the media here in the united states, it might be something that might get more u.s. government funding? i know in the past there's been a fear that it could be used as a biological weapon, but particularly the big pharmaceuticals thought there was no real money for ebola because of the reasons you just mentioned. largely confined in other countries, certainly not here. do you think nonetheless there might be more focus either from the pharmaceuticals or the government on ramping up investing? >> there might be. we're now trying to help with the introduction of new legislation called the ending -- ending neglected tropical disease act. it refers to the fact not only about these diseases abroad, but the fact we called them tropical diseases, it's a bit of misnomer, they're diseases of poverty. we now have 20 million americans who live in extreme poverty, 1.65 million families in the
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u.s. live on less than $2 a day. all of them you nor affected with more or more -- i call them the most important diseases you've never heard offing shaga's, for example, these are extremely common, and one of the reason why the poor can't escape poverty in this country. we're hearing the tests did come back negative for the lady who was testified for ebola in columb columbus, ohio. so that's good news. thank you very much. brian, over to you. >> that is good news. until recently the ebola outbreak largely confined to the mahler western after kaj nations, but a second case has now been confirmed in nigeria. obviously nothing tops the humanitarian concern here, but because nigeria has been mentioned, we have to highlight an economic concern, oil. nigeria is the biggest oil producer in africa.
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algeria and libya combined, and egypt is also a major producer. the key is to watch these nations in the headlines. two cases, one of them a health worker in nigeria, angola, a long way away, obviously, but these are the names you need to watch. we've reached out to the major oil corporations, only heard backs from exxon, thank you, and they said -- saved is our top priority, we take the risk seriously and are taking appropriate precaution or monrovia office remains open. that's from exxon mobil. i asked them to push back on -- and they said no update to provide. we are waiting to hear from others. the early, but like we said, two airlines, mandy, already taking action, emirates and british airs suspending flights to and from liberia. if you start to see headlines
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with these countries in the title, just something to watch. watch oil. luteally. certainly other airlines like air france taking precautions. some of the passengers boarding the various planes in african, just giving them a temperature test, making sure they are healthy. >> because you have to consider the workers on these rigs, if you start to see concern, what happens to them. >> equal. thank you for that. let's talk about these markets as we go into a break. the markets are at session lows. we are still digging in to find the real reasons for the sell-off. there is a lot of red on the screen. the dow down 167 points right notice. also the biggest losers and the selloffs, those names coming up next. we believe outshining the competition tomorrow requires challenging your business inside and out today. at cognizant, we help forward-looking companies run better and run different - to give your customers every reason to keep looking for you. so if you're ready to see opportunities
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if you're a current or former military member or their family, get an auto insurance quote and see why 92% of our members plan to stay for life. welcome back to "street signs." the s&p 500 is hovering near the lows of the session. you can see there, down by about 22 points. cablevision also expediters international, pioneer natural resources, motorola solutions and halliburton. of course, check out what's happening with the vix. the cboe volatility index, up by about 11%. this index, guys has been up
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five of the last six days, showing you signs that there is very much roll tilt as part of the picture. >> gold has moved into positive territory. arier today it was moving lower, but now it's a 1293 for one troy ounce, up by about $4 or three-tenth of 1%. whats moving lower is crude oil. we've been talking a lot about that and the impact on big oil companies. for the very first time since march 12th, the national price has dropped below $3.50 per gallon. more picks in our wok we son have to spend. greg lakosky, good to join us today. where do we see gas prices going from here? >> we expect that gasoline prices will continue to decline through august, though not
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necessarily at the same rate that we saw in july. in july, we had crude prices coming down, wholesale gasoline prices came down tremendously. as a result we also saw the retail prices drop 25, 30 cents a gallon almost in a month's time. through august, we think it will be a much slower rate, but once we get labor day behind us, that's when refineries are going to shift back to winter blend gasoline. that's cheaper gas they'll be producing that cheaper gas at a time when demand really diminishing. that's why as we get into the fourth quarter of the year, we still expect consumers will see even lower prices, and an and you have lot of places across the country where consumers will be able to find gasoline possibly below $3 a gallon. >> below $3 a gallon, greg? are you actually delivers some good news for you today?
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>> believe it or not, you know, right now -- >> you're like the santa claus of oil right now, do you understand that? [ laughter ] >> right now there's only about a couple dozens places in four states where you see gas below $3 a gallon. once we get into november, we're confident that you're going to see thousands of stations. that doesn't necessarily mean that many of these metro markets are going to average prices that are at $3 or less, but nonetheless, in many of these markets eseal them as $3.25 or less, and there will be plenty of places where you'll see it below that $3 mark. >> i understand that you've been two or three times normal levels. how is that so? that must be a huge boon for the gasoline retailers. well, again, the production from the refineries through the month of july has really been almost at record levels, and that's one of the key catalysts that's being able to bring these prices
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down the the production is up, consumer demand is significant at this time of year, but it's nothing that's terribly regardingable. it's not putting any stress on the refineries. >> greg, i'm going to leave it there. i've got nothing more to add and you've delivered great news. if we have 2.94 gasoline, i'll starred hoarding it in my baismt -- no, don't do that. it doesn't stay well. thank you very much. buddy. i do appreciate it. we're rounding the wagons and getting our all-star reporters to join us. and whether or not, you know maybe it's just a bit of rhetoric that's gone out of control. we'll try to get to the bottom of everything. at this stage the only two companies in the green or the black are p & g and ba. when you run a business, you can't settle for slow.
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ratings agent s&p did the unthinkable and cut the aaa rating of the united states to aa-plus. since then the dow is up 45 mar45%, the real winner is the nasdaq is 00, up by 78%. what has that proved? >> that if we were scoring it at home it would be central bankers 1, s&p 0? >> i think that would be exactly what i would sum it up in saying. absolutely. >> that would be fantastic. all right. quickly check, the lows were 60 points now off the lows, so we've come back a bit. so so let's get back to the rapid sell-off and slight recovery. our all-star reporters are standing by. bob, rick, seema, bertha. bob, let's start with you. some people are saying we are mo-rons is the probably "animal
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house" way to report it. is it technicals? >> the headlines were around not that long away from the polish foreign minister. i don't think it's moran moron. everybody has a right to be concerned. what everybody wants to know is could we go ahead more clair i have been from the ukrainian government. look at big oil today when chevron drops three points, look at that. between those, that is 50 points in the dow jones industrial average. one third of the dow drop is due to these two stocks. oil has been weak for a while. also, ibm another big name,
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i think this is the sixth day in a row every day i can remember reporting, ibm has been down. i notice close to the beginning of the month. three stocks that's a continue wailing of a trend. just bear that one. >> thank you for the update. rick, what's going on? everyone everyone is trying to make this geopolitical. traders say yes, they're reading the headlines, but they said, do we really need an excuse to sell off in the equities? which haven't had a correction in years. the strongest nonfarm manufacturing. probably that the fed cannot back do you know?
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so many down here think that really you could sigh it's technical or geopolitical. as the fed starts to back out of the picture on days with strong data, and treasuries initially moved higher in respect to the data, about you they're following the money. rick, thank you very much. just a couple days. it has a rough monday for big blue. seema mody, what's going on? >> we're off the session lows, but holding on to 4300, a key support level for the nasdaq. what that tells us about the prospect of higher rates. which is moving lower, a stock
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that i've had a stellar run over the past couple months. intel, broadcom, stocks that have benefited from the rotation into large-cap tech. other areas. all trading to the down side, market makers, no specific reason other than profit booking is what i'm hearing, brian. >> thank you very much, seema. this is kind of interesting, isn't it? officer in russia, ukraine, and is the potential that president putin could make some mischief. crude prices are down at six-month lows. >> they are. traders are basically saying we're focusing on the fundamentals. despite the fact that we are at
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the height of the summer driving season. it could be a tail wind going into back to school shopping. prices are dawn the 38 of last 39 days. the only place we have seen a bit of a move here having as far as nat gas today, but it's been up today. a lot of traders saying that's really technical. gold moved a little bit positive after the session, but again not a huge move to speak of, guys. >> thank you very much to all of you, bob, rick, seema and bertha. one big loser is target after cutting its forecast. it's time for our regular "talking numbers" segment. ari, we're going to ask you and probably erin about the overall market in just a second.
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how we see it, no, target has been on our sell list. even after today's loss, we think it's still a sell. here's why. one simple -- for farther, that 200-day is down. that aids -- now the second point to that is the opportunities are when you rally into that 200-day moving average. that level is -- this downward inflection could just be getting going. we see it at -- we think we could test it there. we see a much better plays to put your money right now. the reason why they lowered
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guidance was because of the increased insurance costs related to the security breach that happened last winter. i think when they report on august 20th we could potential see further down side, but we like this stock. we have -- they offer a 3.5% dividend yield. they're still trading within their normal valuation range, and we see them as having long-term growth. even with reduced guidance, about 15% earnings growth over the next 12 months, which is above the s&p 500. so we still see this as a favorable stock, but it could be shaky. >> just a question on the markets today. the dow is currently down by 2 152. for me i think this is also
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about some of the positive macro numbers that came out. we saw a lot of shakyness last week as well. i think that's really a big driver, because so many people have used large-cap equities, particularly the dividend hell yielding companies. if it is the rates increase we could see a big transition in the asset classes. >> ari, technically we've heard some rumbling, maybe this is technically driven. i do see make some shorter-term averages breached. is it technical? >> it could be. we see this as a very healthy consolidation. the market has had a very strong run into the recent highs. be think it would find support. maybe slightly below. they think a lot of this down side might already be behind us,
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let's talk about tax inversion. sky news is reporting that the company is going to buy the remains 55% of british drugstore change alliance, for about 8.44 billion, but it says it will stay and retain its headquarters in the united states. walgreen is leaning towards staying a u.s.-domiciled companies. those are down about 5%, back over to you guys. >> you wonder if the market doesn't like the spend or is ticked off that they will not be doing the inversion. that's the question. >> that's the real question. >> well, anyway, let's move on.
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so we promised some green in all the sea of red. and if you own these stocks, congratulate yourself right now. coach, first centering and ametek. >> i think they came out with with good numbers. time for "street talk." abare chrome by and fitch. basically this means the analysts there reiterating your buy rating. they said management is plated in a good position for market expands. it's currently trading a little over 40, folks. that's a giant target price gain. one of the worth performing retailerings. new york's financial
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regulator broadened the investigation, and open hinder citing this, and removing the $36 price target on ocn. that stock has walloped. down 27% in just the past month. the first stock is interesting, because it's toyota. it crushed earnings i think toyota is important here. we report add jump, sales well ahead of expectations s. thanks to the suvs and highlander. stock is up today, and also some benefit in your -- >> that's one of the my favorite conversion, it's the australian dollar. servicemaster initiated as overweight. >> this is one of the other winners, up 2.8%. piper jaapry likes the catch flow their target is at 22. they ipo'd back in june.
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they got an upgrade. grade. >> this is why we do street talk, to find these under the radar names. >> for our viewers and listeners. >> sturgeon electric, of course. >> we lift the rocks and find out underneath. >> the average targets is $29 stock. 25, 30, so the market is bullish. coming up next, we have two all-star traders, who will it will us how they are setting up. it's been an interesting day. "street signs" will be right back after this. e
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around 145. and the story really became when comments from the polish foreign minister came out about russia and perhaps their intention with regard to ukraine, others have said that shouldn't be the case because many of these stories were out in other media formats this morning. joining us now to clear all this up, hopefully, is wells fargo's scott ren and peter costa from empire executions. peter, i'll begin with you. that's a good question, why were comments that basically were out a few hours ago suddenly, apparently, able to move the market 45 minutes ago? >> well, you know what it is? i think any time there's a reignition of commentary about what's going on in the ukraine, i think it opens people's eyes again. they get a little nervous. they sell out of positions. i think you're going to see that more and more. i mean, until this situation is resolved, every time someone of any kind of import says anything, it's going to move the markets and it's going to move the markets quickly. i think everyone has pretty much a hair trigger right now.
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i think everybody's looking at the markets turning and they're using any excuse to get out of it. and when you hear something from somebody significant overseas, you know, they react to it quickly. and i think that's just what happened this afternoon. >> i totally get the fact that the market does tend to react in knee jerks, and if you hear about headlines that maybe russian troops are massing along the ukrainian border, you can understand that there might be that kind of reaction, but scott, what if it's true? what if there is a full scale invasion by russia of ukraine? what would that mean for the u.s. stock and bond markets? >> well, mandy, i'll be honest with you, the way that i think that tension could affect our market is, if russia cuts off the supply or raises the supply or raises the price of natural gas into europe, that hurts consumer spending in europe, that hurts business spending in europe, and our companies don't make as much money over there. that's how i think it can affect the market. but i think that's a low probability event. i think that europe and the u.s. have shown they're not -- this is not going to turn into a big
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military event. this is going to be sanctions and those types of things. the u.s. and western europe, they're not prepared to do anything militarily -- >> but what if the sanctions don't work? >> -- and russia knows it. if the sanctions don't work, i think in my mind, it's pretty clear what russia's plan is. they're going to pick away at this while they have the opportunity to. and so, if the sanctions don't worr work, russia's going to continue to do what they've done. they may not do it all the time, but every couple of years i think you're going to see things like this happen. so, the market i think knows that. and really, the thing that's bothering the market, we've come a long way in a relatively short period of time. i mean, two years, we're up 36% in the s&p 500, and mainly, investors are just uncertain as to when the fed's going to move, how much they're going to move. and in my mind, that is the key thing that is causing this volatility. >> peter, i was going to say, okay, i'm glad you agree.
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here's the thing quickly, though. let's just say that putin officially goes in, because you could make the argument russian operatives already there, whatever it is. let's say russia does this, they go into ukraine. then what? what does it mean for stocks? the world's not going to go back to war, is it? >> no, i don't think it will go back to war. what's going to happen is there will be -- let's say a fairly significant pullback short term, but i think when people realize what the end game is, and the end game could be six years out, i think that people will see that the value of stocks and u.s. equities are what they are, and then having some situation in russia will definitely affect short term will affect everyone, but long term, it's not going -- this won't be a problem anymore. i think it will eventually get straightened out. i do think that the russians, you know, they know that they have to live in this world, it's a global economy. it's not the russians and everyone else. they know that they have to live in this world, and i to think that they'll understand that at some point and, you know, the resolution will be down the road
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somewhere. >> certainly. i hope you're right, peter. i mean, certainly, putin does have to live in this world, but he doesn't always have to play by the rules of this world. >> no, not at all. >> i think that's probably his opinion, but scott and peter, thank you for joining us. let's hope it doesn't get any worse. >> thanks, guys. >> all right, thank you. one sporty stock, not sporty spice. that's a different band. it's heading for the green in all this red. that standout and others coming up next.
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though it's down slightly. second best performer on the s&p 500 year to date and news we might have missed, the former president of espn joining the board. >> okay. we'll talk more about espn later on. a quick look at other names in the green today, because of course, it is a very down day. we have the board there, we can show you some of the names. we showed you coach a minute ago, p&g, also ba up about 0.8% today. some of the others, radio shack up by 20%. thanks for watching "street signs," everybody. and welcome to this special afternoon sell-off edition of the "closing bell." i'm kelly evans at the new york stock exchange. >> i'm bill griffeth also here at the big board. yesterday we were hard pressed to come up with a reason for the rally in the market, and now it's just the other direction, and we're hard pressed to come up with a reason,

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