tv Power Lunch CNBC October 13, 2014 1:00pm-2:01pm EDT
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>> let's get some quick find final trades. >> netflix. >> sticking with pharma. >> pfs. >> buy international paper, i.p. >> let's get the three major averages, pretty good bounce. you had the nasdaq down quite considerably, now it's positive. the rest of the market going with it. "power" starts now. half time is over. "power lunch" and the second half of the trading day starts now. >> people are running at me from left and right. it's a big drop for the small caps. russell 2000 hitting a new one-year low today but bouncing back. right now the russell is the etf that tracks it best. it's the iwm. that's not the only story. the semiconductor index down 13% this month alone. is 13 the lucky time to buy technolo technology. ebola health officials scrambling after news broke this weekend that a health worker in
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dallas contracted the illness. today on "power lunch," the head of a major nurse's union in the u.s. will give us her reaction. and the risk and reward behind 15% yields. where can you find them? where can you go today to get 15% in income? is it safe? that's always the question when those yields get in to rarefied air. sue is at the new york stock exchange. hi. >> we will begin now with new developments in the ebola outbreak. the cdc under fire and hospital emergency procedures called into question. that after a health care worker treating the ebola patient who died in dallas has tested positive for that virus. cnbc's meg terrell is live in dallas with the latest on what we know. meg? >> that's right. the health care worker is the first case of ebola to have been spread here in the united states. the cdc called it a breach in protocol, but they have not identified how the infection happened. they're now investigating all of
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the health care workers who may have had contact with duncan. they don't know the total number now. they say if one person was infected, they have to think others could have been. they're looking at what changes could be made to make the treatment of ebola pains easier and safer. cdc director tom frieden in a briefing said every hospital needs to be prepared to treat ebola or to diagnose ebola. >> the single most important thing for every other hospital in the country to know is the importance of taking a history of travel. if someone has fever, or other symptoms that could be ebola, ask where they have been in the previous 21 days. and if it's to liberia, sierra leone, guinea, then immediately place them in isolation, consult with us and the state and local health department and we'll go from there. >> screening at jfk began over the weekend for travelers coming in from the three affected countries in west africa.
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cdc saying now they flagged 91 passengers, five received further review, none were diagnosed or said to have ebola. now, frieden strongly emphasized that blocking flights from those countries is not something they're considering, saying that would hamper efforts to contain the outbreak in west africa, and screening at four additional u.s. airports begins this week. sue? >> thank you very much. protocol breach, that's the wording from the cdc claiming a failure in procedure by an unidentified dallas nurse then led to her contracting ebola. that view coming under fire from nurses across the country. joining us to talk about that and get her recommendations is debra burger, copresident of the largest nurses union in the country, national nurses united. nice to have you with us. >> thank you very much. >> your response or reaction to the cdc statement that it was a breach in protocol? >> we're very, very outraged and
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angry that they're blaming the nurse, again, blaming the patient for the spread of this disease when we have been calling all along for better training and education on how to use the equipment and also making sure that the nurses and health care providers have the optimal level of protection possible to provide care for these patients. >> we should note in his briefing a few moments ago, dr. frieden apologized for that saying he felt terrible that a health worker contracted the disease. but the president has a briefing later this afternoon to get recommendations on how to change the situation. how to remedy some of the breach breach breaches, if there are those out there. if you were in the room what would you tell him specifically? >> i would make sure he mandates that every employer who provides health care for patients train employees to provide care to any patient that may have been
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exposed to ebola. if you look at our survey results, 75% of the nurses say they still have not gotten the training they need. over one-third of them still say that the hospitals have not got enough supplies just on a daily basis to deal with our patients. >> what was the response rate on that survey? it was a relatively low response rate. >> there were over 2,000 nurses in 750 facilities, and in 48 states including the district of columbia. >> in terms of what specifically you think can be done now what would it be? if there's one single thing, is it taking off of the equipment? because apparently that may have been where there was a breach? is it bringing in more equipment? what would you recommend? >> it means the training to use the equipment safely and making sure there are adequate monitors
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to visualize how the health care worker is taking off the equipment and how they're putting it on and how the waste is disposed of. >> all right. thank you very much, debra. appreciate it. >> thank you. >> thank you very much, sue. reaction from senator bob casey of pennsylvania. last year he helped pass into law a pandemic preparedness bill. he is also on the finance committee that funds public health agencies. senator, welcome back to "power lunch." i hope you were able to hear the head of the nurse's union there and her reaction, most pointedly that she was outraged that it seems that this nurse is basically being blamed for contracting the disease. how do you respond to that or react? >> first of all, there's no question that i think we need more funding in the program. rile talk about one of the programs, the hospital preparedness program. and that is a program that's been underfunded for the last couple of years especially. just, for example, in the
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current budget, it's funded at about 255 million. it should be at least 120 million higher than that, which means 375, so by law we could fund it up to 375, we should do that, that would help train more nurses, to give them all the resources by way of training and tools and protections that they need. so, if you're going to have good training, it's expensive. you have to invest in it. congress has a role to play here. >> i take it you agree with ms.burger wms ms. burger who said there's not enough supplies, there's not enough training for health care workers to get ready for this. you agree with that? >> i agree with that. by the way, i should say when you have instances when there's not enough training, sometimes that's not because the hospital doesn't want to do it. hospitals have thin margins. so the federal government has to play a bigger role here to help
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and to provide the kind of funding adequate. >> let's talk about the federal response to the screening of passengers disembarking from aircraft from west flick. it seems curious to a lot of people that it took so long for the federal response there. and that that screening really is sort of late. and that that could have really potentially fatal consequences. what do you say to that? >> there's no question that i think the basic screening procedures need to be upgraded. i know members of congress have made suggestions in this area. i think we have to be careful and be guided by the expertise at the cdc or nih or homeland security folks that know this better than members of congress do. i'm open to they idea, but members of congress should talk to the experts. >> what, if any contact, have you had with the white house or the president specifically over this reaction, the federal
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reaction to ebola? >> i haven't had direct contact. but i think a lot of members of congress, not just folks like myself or richard berr from north carolina who worked hard on this issue for many years, when you go back, we'll be confronted with not just the funding issues but any other change, is that need to be made. my guess is this won't require statutory change, it's a question of upgrading procedures, and makingprofessio hospitals have the tools they need. >> thanks for joining us. >> thank you. >> sue? >> let's focus on some of the makers of the chem hazmat suits, dupont is one. they're down about 7%. despite the recent announcement that they're tripling production
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of ebola related products because of increased demand. t smaller hazmatmakers have exploded on the scene. lakeland industries and alpha protect are up and have above average volume. let's go up to dominic chu. >> those are certainly ones to watch in a volatile trade, another one to watch that is bigger, is alnylam pharmaceuticals after test results in a clinical trial for a disease that affects the nervous system. the disease affects about 50,000 people or more worldwide. those shares up 21%. tyler? >> thank you very much. let's look at crude oil, shall we? brent sitting near four-year lows. prices down about 17% in the past six months. global policymakers focus on
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inflation. should it be deflation that they ought to be more worried? definition of deflation, a drop in prices caused by reduced money supply, causes unemployment, can lead to a depression, deflation. steve liesman here. you had a rare interview over the weekend with the governor of the bank of england and this topic came up. >> he is concerned about disinflation, a slowing in the rate of inflation. the real worry -- >> a tumble zone. >> is if it goes into deflation. let me show you what's happening around the world. europe is ground zero. right now they're perilously b. the zero line. that's year over year. that's not a month to month change. the trend is down. the ten-year bund is trading below 1%.
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let's go over to the uk which has a 2% inflation target. where are they? 1.5% and moving further away. the trend is down. over in japan, you will be in the shot in a second. there you are. over in japan, running at 3.3% a recent bout of inflation after years and years of actual deflation. the trend is down there also. there is no belief in that long number, you can see where the ten-year jdb is 3.3. >> the united states, trend is down, ten-year yield trend is down. here is what governor mark carney said about how low inflation would play into monetary policy in england. >> there is weaker global demand relative to global potential, that is reducing -- that is producing a benign global inflationary environment. that's something certainly we do
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take into account. >> that's into account, weaker economic growth, and also domestic concerns are part of it. we heard that from stan fisher, the federal reserve president. sue? >> thank you very much. come on in here, my friend. one of the benefits of working on the floor of the new york stock exchange, you get to grab art cashin and pull him into the shot. you put out a note, a morning note which distributes to many of us. couple of weeks ago you talked about the "d" word, deflation. based on commodity prices across the board in continue decline. what's your take on where we stand now? >> i think we have a potential problem. as steve put it, europe is a bit of a problem and back up in china the demand is allowing commodity prices almost across the board to begin to slip down. that's a worrisome sign.
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the strength in the dollar also is contributing to a kind of deflationary transaction, if you would, moving across borders. the real concern is if you develop full-fledged deflation, then ordinarily the economy grinds to a halt. if i'm going to get a refrigerator cheaper in six months, why would i buy it now? >> right. >> that's the fear. arthur, thank you very much. art cashin. t yshg, up to you. >> here's one place that doesn't have to worry about deflation, venezuela. it's got a massive inflation problem. the country offering investors 15% on their money. it's becoming a favorite play to hedge funds. would you lend money to venezuela for 15%? go to cnbc.com/vote, let us know what you would do.
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michelle caruso-cabrera is here with more on how they did it and whether it's worth the risk. >> we were think being this because of steve's presentation. here is venezuela, if you want to create inflation, it's easy. look at venezuela. their inflation rate is at an eye popping 65%. how do they manage to do this when the rest of the world is fighting falling prices? it's easy. two things, they print money, they deficit spend. let's show you the amount of money the central bank is supplying to the venezuelan economy, it just keeps rising steadily as the central bank prints more and more of their currency. currency is no different than anything else. supply increases, the price often decreases of that product. the central bank provides more money but that money has less and less value. the second chart, all of these are provided by the institute of international finance.
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this shows venezuelas deficit spending. it is bringing in more money on oil and taxes, but they still want to spend. they borrow the money again from their central bank which prints it up and gives it to them. deficit spending of 22.5% of gdp. france is begging to be allowed to spend at 4% of gdp of their deficit this is not an endorsement of venezuelan economic policy to solve europe's problems. if you lend venezuela any money right now for a ten-year period, you will get paid 15%. a lot of hedge funds are buying venezuelan debt, venezuela always had the willingness to pay. the president just reiterated it recently. with the falling price of oil, they may not have the ability to pay. so every time the price of oil
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moves in one direction or another t will directly impact the price of venezuela's bonds. two things that venezuela is doing now are the two things that germany doesn't want anybody to do, print money or deficit spend. >> what was the -- you said the thing was 22% of gdp is their deficit spending. at the peak of the u.s.'s deficit spending, do you remember what it was? >> no, i don't. i want to say maybe 10? >> 11, 12? so double us at the worst. >> but we made that choice on purpose to fight what we were worried about, deflation. >> yes. let's lock in the vote. let's see what people say. the people have spoken. would you lend money to venezuela for 15%? 52% of you say no. 48% say yes. i would say no over ten years. >> might be a short-term play. >> maybe a short-term play. michelle, thank you. sue? >> i think so, too. maybe two years. not ten. jcpenney naming its next
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ceo. he won't take over for a while yet. the three big questions investors want answered. and a typhoon slamming japan and a deadly cyclone ravaging india. the u.s. is expecting harsh winter as well. are we facing flight delays and cancellations? the latest when we come back. i make a lot of purchases for my business. and i get a lot in return with ink plus from chase. like 70,000 bonus points when i spent $5,000 in the first 3 months after i opened my account. and i earn 5 times the rewards on internet, phone services and at office supply stores. with ink plus i can choose how to redeem my points. travel, gift cards even cash back. and my rewards points won't expire. so you can make owning a business even more rewarding. ink from chase. so you can. your customers, our financing.
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. welcome back to "power lunch." check out the dow trying to rebound. it's a seesaw, a tug of war after one of the worst weeks of the year, but a tug of war going on right now has the markets mixed. the blue chips are in negative territory. among the movers are visa and 3-d to the upside, then there's merck and disney to the down side. a lot of large cap names pulling the dow in opposite directions. >> let's look at there video from eastern india where a cyclone has killed at least eight. the cyclone battered residents with heavy rains and wind gusts of up to 120 miles per hour. more bad news for japan. a typhoon now sweeping through the southern islands there. and more than 485,000 people have been advised now to evacuate. a lot of bad weather expected here in the united states, too. the weather channel's dr. greg postel with the latest. >> reporter: that's right. severe weather will be a problem in parts of the southern united
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states today from the gulf coast to parts of the mid south including louisiana, alabama, mississippi, arkansas. the primary hazards today are high winds and hail, but also the possibility of tornadoes inside of what we think will be a long line of thunderstorms that moves eastward across the region during the afternoon and evening hours. really holding together along the way. 9:00 tonight, all the way from nashville down through parts of mississippi and new orleans. watch out for that line of storms. once it goes through, the severe weather threat will be over back here. so, hang on until then. the threat for severe weather continues tomorrow with high winds and hail the primary hazards, but the possibility of a tornado does exist. let's turn quickly to the tropics. we have tropical storm gonzalo in the caribbean. 65 miles per hour tropical storm. it will become a hurricane soon, within the next 12, 24 hours. on its path to the northwest and then ultimately north. it might very well get close to
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bermuda this weekend as a strong hurricane. stay tuned for that. back to you. >> thank you very much, greg. how might all this bad weather impact flights here at home? phil lebeau is not only covering fiat but the weather and flights. >> it's a messy monday. that's the only way to look at it. we checked in with the people at flight aware, they have a good handle in terms of how many flights have been canceled and delayed. so far the primary impact is delays. 3 9 flights have been canceled. the two big cities hit are dallas and houston. you would think with the drop in oil prices, jet fuel prices, that we might see the airline stocks move higher, no, down 13 in the last month. i mentioned dallas and houston. a lot of attention on dallas today. today is significant, especially
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for southwest airlines. it is the end of the wright amendment. you can now fly directly long distance into dallas love field. for years people were saying when will they get rid of this ridiculous right amendment where you had to go into arkansas to fly into dallas love field. it was the most ridiculous law. it's gone. that's good mu news for southw. >> and good for businessmen and women who had those long haul flights. we've all been on those. you just want to get back home or get where you need to go. good luck. see you later in the show. coming up, shares of jcpenney soaring today. the struggling retailer naming its next ceo. the three big questions he needs to answer next. and goldman sachs out with their list of the top 50 retail brands that teens love. are these stocks you should bet on this holiday shopping season? we'll find out.
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mobile, stocks have moved lower after reports that iliad will scrap plans to acquire it. back over to you. dom, thank you very much. shares of goproare lower on a french journalist report that racing legend michael schumacher's injuries were caused by a goodpro helmet mounted camera. tesla's new d version vehicle failed to live up to the hype on friday and they are down. and steris is brining britain's synergy health for 1.9 billion in cash and stock. steris will relocate to britain. shares of jcpenney, the company naming its next ceo today. it's up about 18%, a low-priced
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stock, about $7.31. marvin ellison will take over as president on november 1st and will succeed mike ullman as ceo, but not until august 21st of 2015. ellison currently the executive vice president of stores over at home depot. stacey witlis is a cnbc contributor. welcome. can he save jcpenney? >> this is going to be a tough run. it's interesting. >> on their analyst day they were talking about the sales triggers they think they can pull which will be challenging. but they didn't talk about efficiency. ellison is the guy who can come in and offer leadership and offer the efficiency in stores, but again, the sales part of the equation and the merchandise is really the breaking point here. you know, there are a lot of things that they have in place that will be difficult to
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execute. >> on the face of it, it seems odd that a guy who is accustomed to selling hand tools, light bulbs, flooring, will go over and turn around a company that is very, very different. is there any history of people like this moving from one sort of random part of retail to another and doing well? >> yeah. you know, it is interesting that they chose someone from home depot is more comfortable with tools than apparel and most of their business is apparel. certainly you always look for a leader. but i think in the current environment, you do need somebody that has experience, particularly in the soft goods of home and apparel. you know, but again, it's almost like they laid out their sales plan for the next several years, how to fix this company and they're bringing in the leader to try to execute it. again, he has a tough road ahead. >> who is their target customer? >> their target customer is middle america. it was the coupon lady.
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that's who they're bringing back. the person who wants the great deal, feels they're getting the best value, a mix of private label and some brands to pull you into the store. they brought that person back in, but that person is a bit older, and what you really want to pull in now are the millennial consumer, they have the spending power and they're going online. that's the challenge here, to turn over the customer base to that consumer. >> and what are investors looking for in the stock? or looking at in the stock? >> comps. last week they took down comp guidance for september. it's tough out there. that's what the story is about here. >> all right. very interesting. thank you very much, stacy. stacey widlitz. sue? goldman sachs partnering with teen vogue to release the top 50 brands that teen girls love. they use metrics like
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familiarity and affinity. taking the crown is forever 21. others that made the top include victoria's secret, target, sephora and urban outfitters. gold prices are closing, let's see how we're doing on this monday. the gold market finishing on friday under a bit of pressure. right now gold is up on the trading session by about $8.50. the silver market with a slight percentage gain on the trading session. palladium is the biggest winner followed closely by platinum. amid the volatility, the vix is having a stellar month. it's up nearly 60%. dom chu is looking at stocks that are historically vol tatil on earnings day. >> these stocks move the most on average up or down on their
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earnings days. we'll have that and more coming up on "power lunch." it's monday. a brand new start. your chance to rise and shine. with centurylink as your trusted technology partner, you can do just that. with our visionary cloud infrastructure, global broadband network and custom communications solutions, your business is more reliable - secure - agile. and with responsive, dedicated support, we help you shine every day of the week. centurylink your link to what's next.
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welcome back to "power lunch." as we scan these stocks behind us, the best performing sector in the s&p 500 are the utilities companies as investors look for the safe haven of dividend returns. you can see utilities up by nearly a percent. among the gainers, teco, southern company, wisconsin energy and ameren. back over to you, sue. >> thank you very much. let's look at the overall market, which is pretty much on the upside after quite a week last week. right now the dow jones is up 31 points. the nasdaq is up 17. the s&p 500 is up about 2 opinion 5%. morgan brennan is following the movers at the nasdaq. we had some volatility at the open but we're okay. >> we are looking for a bounce. looking for some signs of the market turning around. the russell 2000, you cit dropp
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about 10% in the last month. the s&p only dropped half as much of that. nice move to the upside there. we have seen some oversold items. 63% of the stocks followed are in the oversold category. the vix is up 80%. new lows expand. and the cnn money fear and greed index over the weekend. it was just neutral a money ago and now extreme. maybe it will start with the russell and energy. finally we are getting a bounce, west texas 105 three months ago, today it's down to 85, but it's bounced this morning. maybe this is starting to bottom out. looking at the xops, the oil and gas index. the important thing there, it's still down.
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we are not seeing bounce in oil stocks. that's discouraging. we should be seeing some kind of bounce. we are seeing a few sectors up. for example, gold is bouncing. steel stocks are bouncing. also seeing semiconductors. you can see the xsd, that's bounding. it's a mixed picture. a few things, encouraging that the russell is bouncing. i would like to see oil stocks find a bottom. >> oil just turned negative. bob, thank you. let's go down to the nasdaq and morgan. >> it's been a choppy day for the nasdaq. you need a neck brace. the nasdaq up 17 points, that's just in the afternoon. a dramatic difference from this morning when we saw the composite moving down as far as negative 1.3%. definitely moving to the upside. what's driving it? as bob touched on, the semiconductor stocks again. the semiconductor index, turning
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positive after last week's steep selloff. that index is still down dramatically from its september high. it is in correction territory. chipmaker intel among the biggest gainers. that's turned positive. that's lifting microsoft. strategists note those two tend to trade in tandem and they are among the biggest drivers for the nasdaq's performance. both of those moving to the upside. lastly, check out those small caps. the russell 2000 moved to the upside. that's outperforming the indexes after hitting a 52-week low. all of this comes as investors are now looking back at some of these riskier bets, high beta companies they've been selling off. >> let's check out wall street's so-called fear index. it's the vix. let's look at it. it's up nearly 60% over the past
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month. as you see right there. you can see it's up -- down about 2% today. in the middle of the great volatility we are also in the middle of earnings season. let's put it together. dominic chu with a look at stocks that are historically big movers on the day of their earnings. >> traders are always looking for where the action is. these stocks swing the most, either up or down after they report their earnings. the day after earnings they report after the bell or the morning they report that opening bell earnings number. >> they move. >> they move. >> here's has we came up with. a list of s&p companies with big swings. chipolte, one of the biggest movers to the upside when it comes to reporting on earnings days. over the past eight quarters on average, chipotle is up 6%. another one, netflix. one you will want to keep an eye on. those shares are up on average %
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over the past eight earnings reports. decent move higher for netflix shares. facebook on the social media side. a large cap company, it also swings big. up nearly 10% on earnings days. the single biggest swinger is keurig green mountain, which swings up 12%. that's sqkewed by one report after the stake in coca-cola, the stock shot up 20%. the ones that do the worst and fall over the past eight quarters, altera, down about 5%. best buy down about 5% as well. staples, another name that is down about 6% on average during earnings day. and whole foods, the organic upscale grocer, on average swings to 6% on the down side. you from looking for a more
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comprehensive list. go to cnbc.com, we put them on a list for you so you can see which ones perform the best and worst. >> thank you very much. sue, down to you. stocks moving in and out of the red following the wild market swings, will earnings market season provide clarity? gene pironi is from advisers assets management and darren richards. welcome back. >> darren, i will start with you. dpifen what we saw last week and the last couple of weeks what have you been doing? have you been raising cash, changing allegations? >> we just started raising cash this week, sue. we'll raise it about 5%. when you saw the vix spike and the ten-year treasury drop 30 basis points, the market is nervous. we want validation from earnings that things are okay.
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had a tough first quarter with the cold weather and a bounce back. this will be a quart their gives you good guidance going forward. we'll sit on the sidelines for a bit. my expectation is we'll move back into equities. i wanted more confirmation that equities are holdingi up well. >> last quarter was good as far as earnings, so the comparisons are tough. >> that's true. i think the earnings will beat the majority, but the question is what will majority will it match or beat the second quarter earnings season which was terrific. that might be the last jolt to the down side. i'm holding cash in some managed accounts, not a great deal. about 11%. we are in the lower third there. we're opportunistic there. i think we'll put in a bottom the last few weeks and it might
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be the height of the earnings season that delivers the last drag down. >> darin, last time we talked you liked some of the overseas market, asia was one and do you still like it? what sectors would you put money to work in? >> we like asia. when you have slow growth and modest growth, investors will pay for that. domestically we like technology. great balance sheets, good earnings, good margins. the strong dollar won't hurt technology as much. it is more dominated by u.s. companies. we like tech as well. >> gene, you get the last word. where would you put money? >> i agree with most of those sectors. i like energy here. i think it's getting very oversold. i think west texas intermediate is ready for a good bounce. energy stocks are still weak.
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i would take advantage of that. i like technology and health care, most importantly i'd be watching the mid cap industrials now for a sign of a real turn. >> okay. thank thanks. u.s. officials today saying the government is reviewing the purchase of the waldorf astoria in new york by a chinese company. the hotel is the home of the u.s. ambassador to the united nations. the president often stays at the waldorf when he's in manhattan. and it is very close to the united nations and lots of foreign consulates. $3.2 million, the most expensive ferrari ever built. only ten have been made. all have been sold already. who do you figure would be there? robert frank is in beverly hills. robert? >> tyler, this actually is the
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when i spend money on this card i can see brazil in my future. i use the explorer card to earn miles in order to go visit my family which means a lot to me. ♪ . welcome back to "power lunch." watching shares of the maker of ray band and oakley sunglasses. the italian bush daysitalian-ba moving down about 9% after the resignation of its chief officer. thank you very much, i'm here with phil lebeau this is where chrysler is listed, chrysler/fiat. their coming today -- you lij that jacket. >> this is -- whenever a new company comes down to the nyse, they wear different things. >> this is one of the nicer ones. >> that's the symbol. you will be interviewing --
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>> yes. coming up on s "street signs." >> this is not an ipo. >> correct. >> they're not raising capital. >> that's why they're here. fiat has been listed over in europe for some time. the reason fiat is listing here and it's a dual listing with europe, when they want to expand, where else do you want to go? in new york, at the nyse. this is position themselves for more growth. >> specifically in asia. >> that's where they need to. they are the seventh largest automaker, but sergio needs scale. he is big, but not as big as he needs to be. what they'll ultimately have to do is aggression i.vely expand
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china and asia. jeep is the key to that. >> we look forward to that on "street signs." >> you never know what sergio will say. >> that's true. ty, up to you. thank you. big changes for ferrari. the chairman there is out after 23 years. perhaps the most famous name in sports cars now unveils its most expensive production car ever, a car for $3.2 million. robert frank has the story live from ferrari of beverly hills. robert? >> thanks. sergio marchionne adds the title of chairman of ferrari today, he replac replaces luca demotaselo. yesterday they announced the most expensive ferrari, they're only making ten and they're sold out. sergio telling us yesterday he may increase production and make
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other changes, but the ferrari history, the legend, the iconic brand is bigger than any executive or strategy. take a listen. >> i think we are good holders of the assets. the fact i have come over as chairman is of significant importance to us. the business itself is in good hands with us here, as long as we don't screw up the dna of ferrari. >> we asked sergio what's your favorite ferrari? he has seven. he said the enzo and the 458, which he said is the greatest driving machine ever created by god. apparently god has a workshop. back to you, sue. >> i'll pick it up, robert. the question of the hour, would you give pot to your pet? one san diego-based company is basing products for cats and dogs with medical issues. you can join the conversation at
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cnbc.com/vote. we will bring you the full story. weed for your woof woof next on "power lunch." act i. scene 3. open port twenty-two-oh-one-seven on the firewall for customer db access. install version two-point-three of db connector and ensure verbose flag is set in case of problems. (clapping sound) isn't the cloud supposed to make business easier? get the one that can connect to the systems that you already have. today there's a new way to work. and it's made with ibm. so i can reach ally bank 24/7, but there are24/7branches? it's just i'm a little reluctant to try new things. what's wrong with trying new things? feel that in your muscles? yeah... i do... try a new way to bank, where no branches equals great rates.
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underway in new york. kate rogers drew the lucky bong and found one company making companies for animals. would you give pot to your pet? go to cnbc.com/vote. first to investigate with more on the story. hi, kate. >> i'm not sure if i would give my dog cannabis, but i'm here at the expo. one example is hemp meds, they are bracing their line off of things found in hemp. they say it will not get your animals high, because it does not have thc, which is found in marijuana and will get you high. they say if your animal has seizures or anxiety, their products can help. >> imagine seeing a big dog get scared during a thunderstorm, can be scary, you can calm the dogs down, make them more mel w mellow, good for traveling.
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>> they say their products are not yet to market because they are trying to navigate the regulatory environment. >> for animals it's moving more slowly. sometimes the regulation for animals is more stringent than for people. you wouldn't believe it, but bizarrely enough that's true. >> hemp meds hopes to have their products out to market in 6 to 12 months. ahead on "street signs," we'll tell you what veterinarians have to say. would you give pot to your pet? 54% of you say yes. 46% say no. among those who say yes, the animal also start to listen to a lot of pink floyd. let's see what's coming up on "street signs." >> another brick in the wall here, i guess you call that a doggy dime bag. gopro shares slammed today. how much hospitals have to
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welcome back to p"power lunch." lithia motors is down about 18%, taking the rest of the auto sector as well. that's it for "power lunch." >> "street signs" begins now. welcome to "street signs." new graphics, new set, same old me. there's a story slamming one of america's hottest stocks, we'll get to that in a second. first melissa lee in for mandy, how are we looking? >> interesting day on the markets. seeing a number of sectors trying to make an attempt at a turnaround. the dow jones industrial average is down by just about 0.8% in terms of the s&p 500, what is interesting to note here is that the russell 2000 made a
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