tv Street Signs CNBC August 7, 2014 2:00pm-3:01pm EDT
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they're up by almost a quarter of a percent. we're closely watching the-year-old on the ten-year note. rick santelli pointing out the fact that there's a bid in treasuries. >> all right, let's look at the markets right now. two down, one up. the dow and the s&p, modest losses. du the nasdaq is positive by about two points street signs begins now. see you tomorrow. stocks sliding again as russia fears trump. hi, everybody. a very busy thursday. the latest on the conflict on ukraine's border and air strikes might be coming in iraq. plus, why passwords are still being used to logon and the man who might be the most hated person on wall street. >> thank you very much, brian.
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let's take a look at what's going on behind me. at the beginning of day the dow was up at 61 points. right here, about an hour ago, following those reports about the u.s. considering possible air strikes to protect thousands of iraqi refugees. we want to find out exactly what is happeningened more importantly what is likely to happen. ayman what do we know. >> white house press secretary josh earnest is briefing reporters as we speak, about possible military action in iraq. he won't be pinned down one way or another on what the u.s. will do here. but all options remain on the table. he's also said that the president is committed to using the united states military to protect core u.s. interests. now at issue here as you say is this question of an estimated 10,000 to 40,000 members of an iraqi ethnic minority who are
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trapped on a mountain top in northern iraq surrounded by isis rebel forces. choice they have face there, come down from the mountain and face genocide or die of thirst and hungry, a very, very tricky situation for the united states government. here's the white house press secretary describing what the range of options are just a few minutes ago. >> there are no american military solutions to the problems in iraq. we can't solve these problems for them. these problems can only be solved with iraqi political solutions. the president has at the same time, demonstrated his clear willingness to take the kind of military action that's required to protect core american interests. >> now, earnest was pressed several times by a reporter over this question about what are core american interests in iraq?
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the reporter asking, whether genocide is a core american interest, josh earnest declined to say whether it was, didn't really give a straight answer to that question at all, instead of saying these things are decided on a case by case basis. another big story that may have an impact on your money, russia. fighting back with banning exports. wh does this mean anything. >> it means quite a bit to the european scenes. for russia, it will tighten up the food industry inside the country and the supermarkets are already getting jittery inside of russia, however the russian government has said they'll find alternati alternative suppliers to bring food in to russia that are not in europe. >> do you think that if once
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again, if they find alternative supplies, sometimes these things take time to ramp up, to fill the gap, is it possible that it will cause domestic unrest? maybe this is what putin wants, he wants domestic unrest. to give him some kind of an excuse to invade ukraine. >> the very blast thing russia wants is domestic unrest. especially harking back to that, there's an active protest movement in russia. russia will try to keep inflation low, they'll have to pump billions of dollars into the system in order to keep food prices capped. >> the domestic food supply there has ramped up dramatically, maybe this will be viewed as a benefit to russian producers, lauren, because i'm still trying to figure out why
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vladimir putin has an 85% approval rating? >> obvious ly it's gone up sinc then. putin's approval rating has skyrocketed this week. main reason why, the russian people are rallying around their president. >> painting it all as being a humanitarian. >> very much. >> if he goes to ukraine and helps out the pro-russians he's been a good guy. >> russia is trying to change the dialogue from it's not an invasion into ukraine it's a peacekeeping humanitarian issue. >> that is a great point, mandy, but lauren that is a terrifying point. >> this is something that we have seen trend for quite a few years now and in 2010
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then-president medvedev changed it to protect russians outside of russia. >> just quickly to follow-up on that, if ukraine is annexed by russia, who will be in the sights of putin next? >> russia is not going to outright annex all of ukraine, it would be pretty politically untenable. the eastern part is possible. other countries we're watching is georgia, moldova and the battic states. >> thank you very much. great insight as always. the russian poultry sounds bad. what will the real impact be? what does it actually mean for your business, the industry, sir? >> ten years ago, 20 years ago, it would have been devastating, today it's going to be just a
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blip, russia is about 7% of our exports and we're exporting about 20% of our production, so it's not near as concerning as it once would have been. >> what do you make of it, though? is it just symbolic, a slap in the face by putin that won't have an effect or something that we're not looking closely at enough? >> for some reason, poultry has always been used as political ploys. whether we're talking russia, china, i remember back in jimmy carter's day when we had shipments en route to iran and we had a block ad. for some reason, poultry is always inninged out. and we have been very visible in russia. we have had a long history of trade and trade negotiations with russia and for many, many years, chicken was the largest single export from the u.s. to russia. so, we have a lot of visibility
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and i guess a lot of memories. >> just quickly to be clear, that's not the case anymore? unlikely to have a major economic impact to u.s. producers, correct? >> it shouldn't be measurable. we have a pretty tight supply of poultry right now with high beef prices and pork issues, so chicken is doing quite well right now and we are very diverse mied in many markets around the way. >> it's political fowl play. by the way, we reached -- sorry about that. we reached out to tyson and pilgrim pride, pilgrim pride said no comment. tyson foods said -- we're disappointed about the loss of the russian market, but don't expect the impact to be significant. jim, thank you. suddenly the investing world is awash in news. let's filter through this and
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bring in one of our favorite guys, a lot going on. how are you managing this for your clients? >> a lot of it is going in terms of asset prices. looking for u.s. treasury yields to go down, brian, and then that was opposite of what the consensus has been talking about. but today at 2.45. i have lowered and i'm going to tell you for the first time that the ten-year treasury is going below 2%. >> time frame? >> within the next two months. >> hold on, did you say below 2%. >> below 2% on the ten-year yield. >> with the jobless claims came out this morning, we saw yields drop. a little bit of fodder for the fed hawks.
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it was quite the opposite. when you see a german ten-year, below 1.1%. you can see why it would be attractive to come here. >> exactly. >> relatively speaking it's an attractive yield. >> yes. germany is close to an all-time low. on the u.s. side it's more attractive. look at it in the future. yes, the jobless claims dropped today. every time it has dropped the last 30 years, it does not go much below that. the expectation is the only way it can go is up. a further drop in consumer sentiment, the fed may have been to resume quantitative easing in 2015 in addition to what you're seeing in terms of the rates coming down. >> can we bring up the topic of jeff, so many things going on, we had 20/20 vision of maybe
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q.e. by then. >> 2020 seems a long distance away, the fed has to react to changes. >> you're reading our mind. i like jeff. i reached out to him to come on the show because i wanted to ask him the guy is obviously incredibly brilliant and very successful. but i thought the same thing. how does anybody look out to 2020. >> that's a big crystal ball. >> i hope i'm around in 2020, you know what i mean? other than that, i have no concept of it. >> exactly, what we have to do is react to double up in terms of where the economy is heading. two data points. the wall street journal, 40% of respondents think we're still in a recession. now, we have a fed survey which
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suggests that 4 out of 10 respondents there were under financial stress. the fed is no mood to do any easing. you can't wait another six years to do that. >> you're sounding very bearish. do you think therefore global equity prices, even though in europe, a number of markets there, either in correction or bear market territory. >> global equity prices i think are heading down. the global economic growth is going to slow significantly in the second half. we have had this record of the fed, the bank making great forecast of rapid growth. they have never met. i don't think it's going to be met over the next 12 months. yes, we're looking at a slower growth and that's what i built into my expectations on quantitative easing. >> to hear somebody say it and i
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want to let pete for the audience, you're calling for the ten-year bond yield to go back below 2%. >> in the next six months. >> do you know who's the most popular guy among realtors right now? >> is it me? >> you. that will send mortgage rates below 3%. >> the fed will want to do that because the housing and potential weakness in housing is going to hold back economic recovery, so if lower mortgage rates are going to help housing demand i think the fed will want to do that. >> you'll also be the most popular guy with people who borrowing money. >> what's in the water in california? los angeles controls the bond market. and orange county with newport
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beach and all of you guys are seeing bond yields, i think, all of you guys, you gundlach -- what do you guys -- is pot legal out there? >> no, it's not. >> are you going to colorado. >> too much sunshine. >> i think there are people who see more economic weakness than i think some people do on the east coast. >> great to have you with us. we'll have you on before six months is up. >> thank you, great to be here. all right, fighting ebola, it's a big job, can a little biotech get the job done? what it takes to produce and mass produce a cure. and who's the most hated man on wall street right now? you'll find out about him. "street signs" is back after the break.
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happening right now -- the director of the cdc is testifying before congress on ebola, as the worldwide death toll climbs above 900. pharmaceutical companies are scramling to provide drugs to help. how long does it take a drug to get approved by the fda? let's bring in meg and michael yee. what have you learned recently in terms of the pharmaceutical
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companies? >> right. very early stage. they haven't gone through clinical trials. some have entered in human trials and others are still in animals. >> what do we know about these companies, meg? we never heard of them. for a majority of us, the financial news media never heard of them until now. >> they're quite small. all of these have had grants from the government, from the department of defense to work on infectious diseases like ebola. >> just to back up for a second, talking about the department of defense, we're talking about potentially providing some kind of mitigation against a biological weapon, right? >> yes that's the concern. we want to have these things available, a stockpile of
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something. you can't necessarily test it on people. you can't do a consumer control trial. these are the issues. until there's an outbreak like this, they're not moving very fast and they don't have a ton of funding. >> let's bring in michael yee. >> to see what he's got to say about one of the stocks. >> michael? >> yeah. it's quite interesting. >> go ahead. we wondering about tekmira, do you think it's possible that hold might be lifted now? >> i spoke with the company just this week, this has been all realtime, but they're working with the fda, obviously, i think what's going on the other side of the world is probably pressing the fda to put the foot on the gas pedal. i think they can get the
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clinical hold off relatively soon. this drug has already been in healthy humans. if we can get that drug back into humans again, it could be not too far away from getting into other people. >> normally we don't talk about these names at all. the volume and liquidity. this name has been mentioned widely in the media. up 21% over the past month, what's the risk this thing becomes? i don't want to call it pump and dump. but, it's getting too much attention for too unlikely of an outcome? >> well, i think what's very interesting for the viewers is that, you know, the stock hasn't been about the ebola stuff at all, it's had a little move from 9 to 10, to lower double-digits here. recently, like you said. really, all the value is on a totally different program which
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is hepatitis b. which i talked about earlier. >> to interrupt, michael, if the ebola stuff does not work or is not used or whatever happens, tekmira can stand on its own elsewhere? >> absolutely. absolutely. it hasn't been really a primary focus for most investors other than this past week. >> what year do you think we can get a mass production of ebola vaccine? >> it could take a year or more to get a lot more testing done, then you have to still go through fda hurdles. this won't happen imminently in terms of something that's mass produced. it could be $100 million if you look at some other stuff. that could take a year or many. >> michael and meg, great having you on the show.
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who's the baen of wall street? you're about to find out. with the amazing technology out there, why in the world are we still using pass words at all? we're going to debate when "street signs" returns. 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 is i'm howard spielberg of fidelity investments. the equity summary score is one more innovative reason
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. bank of america closing in a record-settling settlement with the government over mortgages. the biggest bane on wall street, who is this guy. >> tony west, works closely with eric holder, responsible for a number of different departments but most importantly here, civil litigation, the unit he ran before this current role that he took on and as part of that he was responsible for defending obamacare legally, also for going after bp after the deep horizon oil spill. now he's the key man negotiating these settlements over these mortgage frauds. the notable thing here, in addition to the fact that the financial crisis was just such a terrible experience for so many
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americans, for our economy and a huge black eye on the banks in general the justice department has since been chastised for not taking swift enough action. he's now ringing multimillion-dollar settlements out of jpmorgan citigroup. >> right a big chunk of that is probably going to go the consumers. >> he said that he went to law school because he wanted to help the public. >> the civil litigation of the doj, essentially we're the government's law firm. so, a big fan of public service and he's really a longtime hand at the justice department. has been there for many years. at the same time, it's interesting, on wall street, are very frustrated with him. he's driving too hard a bargain.
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he told bank of america ceo brian moynihan we're going to sue you. a good portion of the money will go to consumer relief, loan modification. >> what home owner isn't struggling? >> if you assume 17, which is not certain yet, it looks that way. $9 billion in cash penalty. consumer relief, 7 billion $7 b# billion. loan mods and soft dollars. the cash penalty goes into the treasury coffers for the government to use as it sees fit. >> thank you. >> there you go. general expenses. >> it's interesting one parting thought, there's been a hiring freeze at the doj in recent years, but recently lifted. they brought huge cases, they need manpower. >> kate, thank you very much. great stuff.
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herb hates the gluten-free craze, he'll tell you why. and she's back, the prancing queen is out with a brand-new workout video, honestly this is the best thing that i have seen in a really, really long time. this made me happy. over 20 million kids everyday in our country lack access to healthy food. for the first time american kids are slated to live a shorter life span than their parents. it's a problem that we can turn around and change.
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revolution foods is a company we started to provide access to healthy, affordable, kid-inspired, chef-crafted food. we looked at what are the aspects of food that will help set up kids for success? making sure foods are made with high quality ingredients and prepared fresh everyday. our collaboration with citi has helped us really accelerate the expansion of our business in terms of how many communities we can serve. working with citi has also helped to fuel our innovation process and the speed at which we can bring new products into the grocery stores. we are employing 1,000 people across 27 urban areas and today, serve over 1 million meals a week. until every kid has built those life-long eating habits, we'll keep working.
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very quickly, what's happening with the markets here, we were up 61 points at the beginning of the day on the dow, we dropped right down, we have come back a little bit. we peared our losses. the two-day moving average, we did touch that. obviously, technical value -- >> technicals do matter. the story getting the attention right now, the president may be considering limited air strikes on iraq because isis has those poor people trapped on the mountain, starving them to death effectively. all right, let's move on. time for street talk. i want to start with a manufacture for the aerospace
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and defense industry it got an upgrade from goldman sachs. the company is attractively valued. it's been raised to 140. stock is up 30% this year. >> stock number two, nuskin getting a downgrade to neutral. >> okay, it's too little too late. jpmorgan lowering the rate based on the risk on remaining shares. nuskin is 47.65. thanks a lot jpmorgan. why the drop now? it drives investors nuts.
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>> you got to do what you cashew. ralph lauren got an upgrade from credit suisse. to 180. stock is 160 right now. average target on wall street, 178. very bullish. everybody is apparently on ral. of lauren. >> the firm said that the health care -- the benefit of obamacare still ramping up. 56.63. the stock is up 40% over the past year. let's move on, tallgrass energy partners provide natural
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g gas. it's up 2% as a result. >> there you go tallgrass energy. ticker is tep. they're announcing an offer to buy tallgrass pony express pipeline which owns the pony express line pipeline. the yield could be more generous at 3.8%. there is your under the radar name of the day. from street talk to talking numbers. where we hit stocks fundamentally. let's talk about monster beverages. let's welcome in our guest rich ross, erin gibbs. rich, this has been not a momentum stock necessarily but it's a trader favorite in its space, how do the technicals look on monster? >> i'm not a big fan of the stock. i would not hold it going into
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earnings. now, you can see on a year to date basis, a lot of volatility here, but we have gone nowhere on the year to date basis. we have remain there for the better part of the last two weeks. but perhaps more importantly, brian, is this bearish complex head and shoulders top, just a distributive pattern comprised of two smaller head and shoulders. when zoom out, while we're clinging to key support at the neckline of that pattern, better support lies below that moving average. you can see that well-defined top. we're clinging to that tread line, that uptrend if you will. but i think the earnings could be the catalyst for a downside break here. once again, i think there's better support around $59. i wouldn't own it right in here. i don't like the stock. >> you don't like the stock.
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erin, dow you like it? >> revenue is the number that they need to beat. this company is actually despite being consumer staple is a growth company, we're looking at 20% of earnings growth over the next 12 months and 10% revenue growth. now, right now, it's come down to about 26, we have this stock in our advise portfolios for new entrant right now, i would prefer something a little closer 20 times erjs, at 64. this is short term. long term, this company looks very good and is trading at relative attractive valuations. these energy drinks, the scrutiny has gone down, i see the worst case labels being
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placed afternoon these beverages a and -- >> it will probably attract more kids to drink it. >> exactly. >> thanks very much, erin. thanks, guys, be sure to check out on the online edition of "talking numbers." with mr. sullivan. is herb greenberg ready to eat a little bit of gluten-free crow? plus, do you think bacon was a necessity of life, at least for some people it's up there with air and water, people have cut ba been cutting back on it because it's getting too darn expensive. and the prancing trend, as evidenced here by brian. tdd#: 1-800-345-2550 trading inspires your life. tdd#: 1-800-345-2550 life inspires your trading.
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tdd#: 1-800-345-2550 where others see fads... tdd#: 1-800-345-2550 ...you see opportunities. tdd#: 1-800-345-2550 at schwab, we're here to help tdd#: 1-800-345-2550 turn inspiration into action. tdd#: 1-800-345-2550 we have intuitive platforms tdd#: 1-800-345-2550 to help you discover what's trending. tdd#: 1-800-345-2550 and seasoned market experts to help sharpen your instincts. tdd#: 1-800-345-2550 so you can take charge tdd#: 1-800-345-2550 of your trading. i've got a nice long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i looked at my options. then i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b medical expenses. the rest is up to you. call now and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement insurance plans, it helps pick up some of what medicare doesn't pay.
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remember, all medicare supplement insurance plans help cover what medicare doesn't pay. and could save you in out-of-pocket medical costs. call now to request your free decision guide. and learn more about the kinds of plans that will be here for you now -- and down the road. i have a lifetime of experience. so i know how important that is. two big media earnings report coming down after the bell. they'll be all over this on the show, kelly. what does that mean all over it? like sit on the printout? >> brian and mandy, not quite.
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we're definitely going to have our panel ready to talk about this. we have some analyst comes up. we're talking about newscorps. after the split from 21st century fox. and there's zynga could be considered a media company, depending on your point of view. >> buying fake cows with real money stuff. >> interactive media perhaps. >> lot coming up. that all begins after the close at 4:00. we still have to see how the market continues to digest with the news overseas. >> you got tyler today in. >> yes, we do. >> may i mention, he's going to kill me for it, happy birthday to brian.
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>> okay, thank you very much. shares of boulder brands jumping today after posting a rock-solid quarter. herb greenberg has been waving a red flag over this stock for qui quite some time. anything making you change your red flag? does it make you wave it even more. >> wave it even more. slowing growth and falling margins is not what you want to see in a category that's supposed to be, you know, the next big thing and i think the reason the stock is up because the company tells a good story about the future and that's the whole point here, i think, you guys know how i feel, i understand the concept that the glut gluten-free is a fad other than
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for those with celiac. the ceo was asked by an analyst talking about food service, what about cross-contamination, he said that's up to the restaurants. if you're celiac and you go to the restaurant and they have something that's gluten-free, first question is, is there cross-con tan nation for someone who doesn't watch it, that's the whole point. if you're fluten-free, you're gluten-free and you don't want any contamination. it's a fad. it's a real segment. lots more competition even in bread. their gluten-free growth is really slowing.
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one thing. >> gluten-free corrected all of it. >> if you take out gluten-free, i have reduced sodium. when you take anything out, you're not eating the pizza, you're not eating the junk food, when you take any of that out, you're going to eliminate the things that are making you feel bad. >> herb, thank you very much. all right, good news bacon lovers pork prices are finally falling just a bit. jane has that story. >> this is the good stuff. i'm holding it right here. hog futures were down. down 16% over the month. that means record-high pork prices should trickle down in the short term. pig virus has subsided in the summer heat. hog farmers have been heavier
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hogs to market to make up for lost production. >> you know, i have to confess to you, price scenario that farmers and producers are seeing right now is a very, very strong message to expand your herds. >> pork chop prices fell in june at the retail level. the american restaurant association says wholesale bacon prices are now below year-ago levels. the concern is once the weather cools, the deadly pig virus will kick back up again. >> all right, jane, since we have you here holding bacon, we got a big update to a story that you first brought to the world a year ago, tell us about pr prancerize is back. >> now that prancing is in
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fashion, have a partner take part. develop some fitness straight from the heart. ♪ >> she has a new video, with a friend and real horses, showing off her exercise program. the new video takes prancerize to a new level with the help of drones. she takes all of the jokes in stride. she's making money doing it, coaching people on wellness and we got the whole thing on cnbc.com. >> i love her. she's great. >> how could you not love her? >> that puts me in such a good mood. >> and she's got a friend. >> who's the friend by the way? >> that's victor and he's with a horse rescue operation, those are rescue horses. >> it's all good then. it ee's all good.
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>> attend of it, think they're getting tired. she's like, that's it, i'm done. >> jane -- >> pran-cer-size. shouldn't we be done with passwords? why are we still typing passwords into bank accounts stolen by gangsters all over the world? we're going to talk about it coming up. but what if you could see more of what you wanted to know? with fidelity's new active trader pro investing platform, the information that's important to you is all in one place, so finding more insight is easier.
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different things that don't involve using a password are to access websites in your devices, starting with things like websites that actually e-mail you back for confirmation rather than typing in a password into a website, you get an e-mail, then click on the e-mail and you'll be through. wirables like bracelets that when proximity to your device will let you in. thumb prints, that kind of facial recognition. behavioral analytics, the stuff that's most interesting to me. they'll look at how you use your device to see if it is really you. if you are in the place you normally are. if you're at the time of day you nomly being normally access the device and looking at the kind of data you normally look at, okay, that's you. if someone from kazakhstan logs in to your device, they say that's probably not you and lock that person out of your device. apps using your bluetooth and
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wi-fi, android app says if you have those two things in combination can you get into your android device even without a pass code because we're pretty sure it is you. a lot of that stuff is in the works. >> treasury secretary jack lew talking a lot about cyber security at a conference last month. >> look at how much of our life we conduct through our ipad, our iphone, our smart device or our computer. it is our banking, it is our basic utilities. it's a lot of our personal information, our health records. there is a very high level of concern that we should all have that cyber security -- cyber hygiene is taken seriously by all of the providers that we do business with. >> you can see the entire interview with deliveri deliveringalpha.com after the show if you'd like. eric, i have so many passwords that require regular changing that i've taken to writing them down. it is not exactly secure but i'm
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certainly not the only one out there. >> don't do that. >> i can't remember them all! why is it that we still are so addicted to passwords? >> because it's a difficult thing to change. you have to change up a lot of systems and install new infrastructure and reprogram a lot of products that we're used to using. the fundamental fact about security is, the more things are secure, the more difficult they are to use, the less convenient they are to use especially. especially in consumer products. that's where you start seeing sort after push-back against changing passwords, changing how to do things. >> but you get our point, eric. i was using biometric devices at a previous company ten years ago. the iphone, you got to press the thing to get in. eye scans. is there something about passwords we're not realizing? there's gotting ing tto be a b >> for instance, let me look at your gmail account, for instance. there is an option you can enable on gmail today called to
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factor authentication. it adds a second thing that you can put in it. it is a numerical code that changes every 30 seconds, generated by an app on your smartphone. put in your password. then minimum of once every 30 days you can do this in this second code. it makes it a lot more difficult for someone to break into your account, because they may be able to get your password but they're sure as heck not going to be able to guess that numeric code because it changes every 30 seconds. >> does dash lane work for you? >> if you know about this, chime in. >> don't tell everyone where you keep all your passwords. >> thanks. which i will not be using any more after today. but there is a lot of companies that are out there, on twitter, that are promoting their products, whatever, as a -- you put in one thing and then it keeps all your passwords and logs you on automatically. am i stupid for using it?
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>> no, you're not stupid. these products have to work very well. >> i'm not promoting it. >> dash lane, we've written stories about dash lane and it is one of the silicon valley start-ups. i use a product called one password which works on my mac, my iphone, my ipad and also syncs up -- keeps my passwords synced within drop box, which is interesting. the basic idea that you use the computer to generate those passwords. those complex long, impossible-to-remember passwords. let the computer do that work. it all sits behind one password that you have to remember. then it fills it in for you. you want to check in on your bank, it puts that complex password in there for you. it also makes it easy to change when there is a breach and you just go in and generate a whole new set of passwords. it makes it a lot easier to manage. >> that's a really interesting point, this idea of changing your password. that's one of the of things that you hear about biometrics is that if you're using a thumbprint or you are using an iris scan of your eye, if that
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gets compromised, it is awfully difficult to go out and get a new thumbprint or a new iris. right? once you have that compromised, it is kind of compromised. if you depend on systems that use those, you could be stuck. >> my son can use his thumbprint on my phone because our thumb prints are similar. it is not foolproof. >> wow. really? >> it is not foolproof. >> biometrics are fallible. they can very often be attack. >> someone could steal your eyes. take your eyeballs, then they got you. >> on that happy note -- >> then they've got you. >> eric and eamon, thank you for being with us. >> you could say, that would really "sock it" to you. a government program designed to bring transparency to federal spending is actually working. but something's missing. 620 million things. stay with us.
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a website designed to increase government transparency has revealed an amazing lack of transparency. according to the government accountability office, $619 billion of federal spending is simply unaccounted for. funding through 300 programs not correctly reported to the site usaspending.gov. the department of human and human services was the worst offender. >> let's show that you board of bolder brands. after the earnings report it was up 10%. herb came on at about 2:40 p.m., 20 minutes ago, still saying it is still red-flagged. you heard him, he's worried about the margins. he think it might be a bit of a
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fad, the whole gluten-free craze. it is still up, but not as much as it was. >> we appear to be losing a little bit of steam. the dow is down. the close of trading could be action-packed. closing bell will have all of it, i'm sure, for you. >> it will indeed. see you tomorrow. welcome to the "closing bell," everybody. i'm kelly evans down here at the new york stock exchange. >> hi, kelly. i'm tyler mathisen filling in for bill griffeth. the dow giving back early gains. we'll talk about whether this is a buying opportunity. today bank of america reportedly nailing a mortgage settlement with the government that could be worth up to $17 billion. we'll get exclusive reaction to that possible deal from the former fdic chair
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