tv Street Signs CNBC October 23, 2014 2:00pm-3:01pm EDT
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"street signs" is back on the floor of the new york stock exchange exchange. standing in no brian today is my good friend scott wapner. >> good to be with you, mandy. dow jones industrial average is up 264 points. take a look at the nasdaq and s&p 500 as well. on track for their best call it an earnings-led rally today, certainly what it's been, 3m, caller pillar, celgene, and that spurred stocks right from the get-go. bob pisani, that's been the story, better earnings, things
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feeling a bit better, and the stock market taking off again today. >> i want to list a few other factors. scott is right, earnings were better than expected. i also want to point on the that hedge funds have been selling aggressively have been getting forced back in. we're getting into a seasonal strong time of year. oil is up vgts that's another factor. china manufacturing numbers, i think they're the margins that matter, and of course that terrible incident in canada appears to be the work of a lone wolf. psychologically that may be plays into into it. we're getting etfs, have very heavy volumes. look at the vti. this is everything. very notable voc here today. when you get that kind of tiismt, it means people are trying to buy the whole market. a 3m, caller pillar. caller pillar beat by 36 seconds, that's a remarkable
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beat important thing here, most of the beat was in the energy sector. they're selling vehicles and equipment to the energy sect ov. car business doing well, automotive retail was terrific. o'reilly, dana, their revenues up about 12% overall. guys, sitting near the highs of the day. back to you. >> bob, thank you very much. the dow jones industrial average might be higher today, but we're still down about 2% over the last month. so where is the best play to put your money right now? let's bring in strategic world partners and mike bunker, from grady investments. mark, let me start with you. you know, i feel like i'm getting whip lashed. there's a lot of volt tilt that's been introduced. after a slow and steady grind, where is the path of least resistance? >> we think it's going to go up. one of the biggest things on our clients' minds, we fielded a bunch of phone call last we're
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is what is happening in the market now? is what we just experienced? is that a temporary pullback or the beginning of a major trend change? we feel that, based on past recessions, past recessions typically have happened when we're experiencing profit recessions, which would typically caused by monetary tightening. we don't expect any monetary tightening. policy makers are more concerned about deflation than inflation right now. we're still projecting earnings growth. so we think the path of least resistance is definitely up. >> michael, have we come back too far too fast from last week? what really changed other than sentiment? >> well, sentiment did indeed change, but i think we're going to chop around here. i think we're going to get about a high single-digit return. but as we look out into 2015 and more importantly 2016, i think
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earnings are going to go up, i think our economy continues to recover. more people are going back to work. i think the trajectory of earnings is for growth, and i think the market is going to start to revalue itself on is a and 16 earnings, and the market is not that expensive right now. >> when you say, mike, you think the market is just going to chop around, not do anything particularly special. that doesn't give up advice to our viewers. are there any specification stocks that could stand out? >> a great example of the stock you can buy right now is google. i think google is a great company to own right now. you know, you have 15%-plus earnings growth, 15%-plus sales growth. a monopoly in search, in mobile, in video. 40% operating margins, you get all this at 18 times earnings, just get and buy google right now. if you're just going to buy an etf for the market, i think you
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can wait. >> mark, you have coca-cola on your shopping list. not even looking -- it wasn't on our shopping list last week. actually now because of the recent pullback in their rough earnings mess is back on our radar. so we do think the long-term potential of coke cola is really positive. one of the things we are advising our clients to do right now is assemble a portfolio of stocks that you're not going to mind holding, even if the next recession does start tomorrow. we don't think it's going to happen, but coca-cola is paying a 3% dividend, and if somebody's portfolio was to correctly 10%, 20%, you know, not being forced to sell because of the fact that coca-cola is throwing off a 3% dividend is a very nice thing. it makes sudden feel comfortable. >> what's happened with the company and the stock of late makes you feel anything but.
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>> correct. >> trends are obviously changing, no denies that. people are drinking less soda. management has been a serious question, not a well-run company, at least in the minds of those who have opined on it as of late. are you looking past than that? >> what xwrer time to invest in a company when somebody else says it's a terrible place to put your money. that's a contrarian play. we do think some cost cutting is under way countrily at coca-cola. one of the big things is they had this employees stock incorrective program that a lot of investors was thought was quite excessive that they have recently done away with, and it seems that coca-cola over the course of the next few years will be shifting from a employ -- to more of a shareholder-friendly company. >> real quick, let me get your last pick here, mike. ens ko, oil services industry, this is what you would call a
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deep value play, right? >> yeah, this is my deep value play. i great with your guest, when no one wants a sector, it's probably a good time to invest. ens ko is a best in class. they have the strongest pleat in the sector. they'll weather this storm, and you're getting about a 7% dividend yield to ride out the storm as we get into about the middle of 2015. >> mark, your picks are pretty consistent, looking for above-average yield plays. what happens when rates -- i know it feels like they never will, but what happens when they start going up? >> when they start going up, obviously, the u2i89 sector in particular just had a quick run-up. southern company is one of our plays. we wouldn't be entering into a significant position in that stock right now.
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and then buys more on a pullback, but we like these dividend plays, regardless of what's happening with interest rates. these are all companies with a good track report of increasing their dividends at a rate that competes inflation over the long term. so, you know, for our clients it's important they're able to generate income in retirement so they're not forced to sell stocks in order to generate income at potential an unfavorable tibl. >> the dow utility index is report highs this week. falling gas prices are great for you a. ben benefiting the auto companies. >> yeah, we do. plus we're all over today's big market rally, with the dow currently hired by 276 points. we're back at post 9 right after this.
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let's look at the shares of general motors, which are moving higher, but have lost their gains. phil lebeau, gm earnings driven by strong demand here in the states, particularly for trucks and suvs, the demand, will it continue, you think? >> i think it will continue. look, we are in a total curve right now, mandy, where people
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want those larger automobiles, suvs, and pickup trucks. take a look at the third quarter for general motors. it beat the street, earnings 97 cents a share, two cents better than expectations, $1.4 billion overall. the revenue was a little lighter than some were expecting. what were the profit drivers? north america and china. when you look at north americas, gim brought in 2.5 billion with profit margin of 9.6 percent, just a share better than some of the analysts were expecting. general motors earned, with profit margins, and let's talk more about the suvs and pickups. when you look at the number of sales as well as the pricing for those vehicles, last quarter gem more in an additional 400 million. that's even though why the
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shares are pulling back a bit today, a lot of people are looking at that and saying, wow, impressive. guys, back to you. >> phil, thanks so much. shares of group one automotive surging 16% today. let's bring in group one automotive's ceo, mr. westerburg. good to speak with you today. >> stocks off to the races, that's pretty clear. where was the bulk of your strength, here in the understand? so we were driven pretty much by both the uk and the u.s. >> does this suggest to people that suggests that -- >> >> we're not at peak autos. i think we're getting closer, you know, to the peak of the cycle, but we're not there yet. there's more growth above the
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certainty level. >> i want to ask about the brazilian business. how much more restructuring can you do to eek more out of that business. >> the brazilian market is difficult and is going to be difficult for a while. we have to continue to be -- we have a more flexible cost structure, but it's going to be some time until the presidential election is settled. and the policies of the administration are settled down there in auto sales recover, but until then, we're going to try to continue to strengthen that business and our goal is to be the best auto retailers in brazil. i'm confident we'll get there. >> you've been on a bit of a buying spree, you might say. you bought 12 franchises, i understand worldwide year to date. warren buffett loves the business. he's buying the larger privately owned dealer group.
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i'm curious your response when you heard that mr. buffett was getting into your industry? >> i think we welcome that. >> clearly he's an astute investor. i don't think it changes anything. we've been competing against the group for a long time. they're a great group. i think it was a good investment for mr. buffett. i don't think it changes what we do day to day. >> why do you they he chose a private group? does it say anything about the kind of business you are in? >> i couldn't say for sure, but i will tell you i've known larry for more than two decades, his father cecil as well. that's been a very well-run company. it's a very good business. larry is a couple years older than me. at some point he neither an exit strategy.
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i think that worked out for both larry and mr. buffett. >> i'm sure it worked out for larry real well. >> i think you're right about that. >> good to see you again. thanks so much for earl hesterberg. let's get back to the mother ship, to cnbc's head quarter where melissa lee is standing by with the earnings squad. >> hello, everybody. here for around round the earnings squad. two huge companies set to report after the bell today. but first let's hit that scorecard. so far 30% have reported. 21% of earnings have come in below forecasts, but let's kick it off with amazon. dr. j, typical huge revenue increase and huge loss and lots of volatility after the bell. >> yeah, mel. i'm sure you are hearing the same thing from a lot of the "fast money" traders, it's just
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not a lot of excitement out there, despite the fact that these guys are the cloud play. i think both these earnings tonight, and i'm interested in herb's take are about the cloud. obviously with microsoft, a little more on the server side as well, which is growing like crazy, but microsoft on the cloud side, that is where they're really cutting their teeth and making a name for themselves. >> i've got to push back a little bit. people are going to be listening, but from microsoft -- >> in the u.s. >> but for both of these companies, these large multibillion dar market cap company, the cloud is a very small percentage of total revenue. amazon, are they going to mess up shipments for christmas again? remember they had that snafu where the packages didn't even make it for christmas. >> and they're retail stores and strategies for retail stores. everybody wants to know what they have in mind in new york and have them speak about it. i do want to go back on the
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cloud, though. there's one important thing there. google has been lowering its prices, so this is a race to the bottom in which a business that a lot of people had so much hope, because they had so much market share. what happens there, i think in the end we know what that story is, when will people finally as they have done given up on it, or will they come back and say we don't care. >> but herb, here's where i push back on melissa's push back. the reason it went from a 13 p.e. microsoft now to a 17, is because of the cloud. >> i agree. >> when you have something exciting like that and new area for them of revenue relatively new. when you look at microsoft's core business, it has the tail wind as beef heard from the
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likes of an intel. the core business is weak, at a time when investors aren't willing to -- for continual losses. those are the differences here. >> true. s in case of microsoft, anyway, we're not talking about losses. there can be divisions with some losses, because those pressures you and herb are talking about. but microsoft incredibly profitable, and going to probably put -- post a pretty amazing revenue number this quarter. >> right. keep watching the margins. as they shift more into the consumer end of the market, margins continue to fall. but -- >> in the past couple years, and is a company, though, that has a lot of energy behind it, and i think that people are giving this company a pass right now, unless they whip it. if they we have it, forget it.
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microsoft or amazon into earnings? >> microsoft, absolutely. nothing against amazon, but nothing exciting there for me. >> jonny, that mean that amazon will have a great quarter and microsoft will -- >> he just called you a contrarian play. >> he did. we'll see in a couple hours. >> just having some fun. that does it for us from the earnings squad. i seal you on fast at 5:00. mandy and scott, over to you. thanks so much. one stock you know is having its worst day ever, street talk is up next with that story. >> then coming up a bit later. we'll be breaking into "street signs" today, so cnbc can bring you a new breed of crowdfunding, luring tens of thousands, you can see it all in action on the cash crowd today at 2:45 p.m. eastern. we'll be right back on the day that they're having a nice
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glee oak. time for something we do every day at this time. "street talk" stocks we believe you need to know about today. scotty? >> boulder brands, getting a downgrade, not just by herb. >> downgraded to hold. basically they're notices the downward revised d. and maybe more different to overcome, and the target has cut, as currently, though, at ten bucks. >> how about this next one? baba is back, alibaba, initiated with an overweight. >> the 12-month price starts has been set at $107.
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it's got symmetries, lots of various things. since the ipo, remember the big ipo on september 19th, the stock is up about 38%. >> how about boston scientific, getting an upgrade at goldman sachs? >> that's right, upgraded to neutral from sell. the 12-month price target here is $13, just so just a bit more up side. as the company -- benchmark also upgraded. a price of $15. >> not improvement at yelp. wow, getting hammered today. take a look. slammed by 13 brokers, and that was at last count. down 16%. yuck. >> i believe this is the worst day for yelp ever. i think they're cutting their price targets by as much as $17 to as low as -- it has a median
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price target of 85, in the -- below analysts -- below average estimate year to date. the shares are down about 14%. roundings out the five stocks, fortinet. >> it's a securities software maker. it's getting price target boosts from at least five brokerages to as much as $32. yesterday, it reported better than expected third quarter and revenue, as businesses spend more to protect their networks. currently sitting at $25.78. another business swing to oil prices today. we go live to the nymex. when we come back, i'm also just noticing the dow is about to be up 300 points. it's been quite a day on the streets. carer pillar certains helps. but the chart is maybe mirroring is a so-called -- and we're
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talking numbers coming up. but also as we go to the break, once again, take a look at what the markets are up to. the dow is currently up, a gain of -- that's a gain of 1.8%. 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.
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comcast business. built for business. this is the high of the day, right, scotty? >> it is indeed. the best day to the dow in more than a year. you already know the s&p and nasdaq are working on their best weeks since january of 2013. is the nasdaq today is the big outperformer. more than 90 points on the nas. >> in fact i think the best week since 2011. we'll keep on watching these markets, but in the meantime let's look at oil, bounding back to its lowe close since june 2012. let's get straight to jackie. give us the numbers, dear.
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very strong finish you've got brent crude up over $2 as well. interesting, because yesterday we saw that $80 mark, again concern for oil prices, but technical buying definitely driving up back higher. also reports out that saudi arabia cut production last month. a lot of -- and will we see opec cut protection at that time. meantime traders all asks the same question. will we see oil go higher from here? most people telling me they don't think we have seen the bottom yesterday. generally the dollar index is not good for oil prices. meantime, of course, we're watching the relationship between oil prices and the market. we have a big rally on our hands in the equity market today, it
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could be because the energy markets have listed -- we have to continue to watch that relationship between the markets, between oil, watch what opec is doing, and of course watch supply as well. guys, back to you. >> jackie, thank you so much for that. let's get to talking numbers now. plooking from both a technical and fundamental perspective. today's topic is caller pillar, raising its forecast for 2014 jonathan on the technical, erin gibb on the fundamentals. let's do ladies first. erin what do you make of caller pillar's numbers. does this overcome some of the fears? >> one, first of all, caterpillar for me is a buy. i like it here. it's done well for q3, handily
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beat the estimates. it raised guidance for the year, so i think it does reassure us for the u.s. economy, but it's in this unique position of being ability to benefit off of a lot of new oil supply construction, as well as benefit from the lower costs of oil. so it really does have a unique take on it for within the oil perspective. but with respect to foreign revenue, so it has been hit with foreign revenues more because of a decrease in mining, and it's actually been this huge, you know, all these new oil supplies, new construction has been offsetting it for that growth. it's well positioned for taking advantage of this u.s. oil growth, and offsetting overall the global slowdown, and if as the global economy recovers
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eventually we hope in a great position to recover to grow with that as well. >> jonathan, erin tells a good and compelling story. do the charts match up? >> we're a little more cautious here. for long-term investors, we would be holders here. it's really been in the trading range between 80 on the down side, 115 on the up side. the risk is about the same as the reward, so that doesn't make it compelling. for us. shorter-term traders, we would think it's a sell right here. if we bring up the one-year chart, we would show you why. and then the right show in september. also the 200-day moving average. while it found support last week, now puts it back at that former support which should become resistance. we think it's solid right here. with another resistance point
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overhe overhead. a completely different story there. technically it's a sell. thank you very much. with two sides of the coin, guys. be sure to check out the online position in partnership with yahoo finance. scotty. this is a story that's not going away. a big mortgage company accused of misleading homeowners, making it harder for them to fight foreclosure. we'll have the latest. plus we're continuing to follow this big market rally. particularly i'm interested in what's happening with the nasdaq. it's up by 88 points. it may not get the triple digits here, but this is an index that essentially was touching correction shun territory. >> now close to crossing the 50-day moving average. >> she calls it the rebound poster child. more after the break. [ male announcer ] your love for trading never stops. so open an account with schwab. and when a market move affects, say,
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not so much, however, for a major mortgage company. accused of harming customers by changing the dates on documents. it's a big story in the mortgage industry. let's get right to diania olick. since these accusations have come out, what's been the reaction? >> scott, just to recap. the new york department of financial services came forward with more accusations, letters that could have helped borrowers who were behind on payments or might have need add loan modification. ocwen admitted to problems with letters, but admitted to even more letters. that sent the stock swooning. off 65% year to date. it's up a bit today off its highs of this morning. other serviceors like nation start and walter investment got a bit of that residual. the biggest takeaway involves wells fargo, which was hoping to sell at nonagency service been
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rights, 2.7 billion. most analysts say that deal is likely in trouble. wells could not be reached for comment. other large banks would also not comment, but one spokesman did note this could be a bigger problem for smaller loan originators who need servicers. one analyst said if it continues to get downgraded on the servicer ratings, it could be forced to sell rights andland or post additional capital. back to you guys. >> is this will 68 wrongdoing or negligence or oversight? is there any possibility it's something other than willful wrongdoing? >> all we know is no criminal charges have been filed on this. it depends on who you ask, whether it's ocwen or the people leveling the charges, but again we don't have full details, but this is not the first time it's been in trouble this year. we could expect to see more of this, more details to come, of
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course. >> the company, diana, as you know, has gotten in the cross hairs of ben lasky, the new york state department regulator. that's an ongoing story, which is likely to have more developments before it's all over. >> thank you very much, diana. let's take another look at what's happening with the market here. we're really quibbling about a matter of points here. we're nearly 300 points to the up side. the nasdaq, as you were saying, is the poster child here, is up by 86 points right now, which is nearly 2% to the up side. it's been a good day. you can see it 3m, capital, good earnings. take a look as well at apple and home depot. there are at least 20 or so stocks out of the s&p that are having all-time highs today. there's one of them. apple basically at $105 a share. that's an all-time high, up almost 2% today, home depot hd
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as well. enjoying some love on the street today. up better than 2%. i think it's up about 30% so far this year. so it's doing well, on track for six years of consecutive gains. okay. we're going to leave you with something a little special now. this is why we're going to step aside earlier than normal. what's after the break. >> a new type of crowdfunding, attracting investors "cash crowd" when we return.
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there is something about the sweet meditative glow of a loading website. don't listen to the naysayer. switch to comcast business today and get 50 megabits per second for $89.95. comcast business. built for business. welcome to the cash crowd. first, let's get you up to speed. >> now there's a new type of crowd funding, where private business owners can race the money they -- it's called equity crownedfunding. to invest you need to be accredited, but the s.e.c. defines as individuals who make at least $200,000 a year, or have a net worth more than $1 million, now including your primary residence. there are dozens of platforms doing this.
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thens of thousands of investors had already helped raise hundreds of millions of dollars. now we're going to introduce you to entry prior neurowho are raising money through crowd crowdfunding, and put them face-to-face with some of the top business minds in america who may want in. >> they've got 30 seconds to pitch their company to the super panel and you. >> i'm christopher had been bard. i'm going to change the world. >> for the first time on tv, see who has the passion, the dedication and the right business plan to convince the crowd. the cash crowd.
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they also carry potentially extremely high risks. we'll meet or entry prior el preneuroin a moment. first. >> lynn tilten, self-made billionaire and owner of the larger woman-owned business in america. thee restructured more than 240 companies. he owns md helicopters rand mcnally, stile cosmetics. >> the owner of method, a brand he turned into one of the fastest-growing consumer packaged goods -- with sales over $150 million in 2013. and of new york angels, a managing director at golden seeds. two angel groups that have invested over $160 million her recent investments include a
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brownie start-up, and a company trying to cure alzheimer's. here comes the entrepreneur who's made it your mission to keep your smartphone's battery from dies. >> i'm noah denzel. founder and ceo of no mad. we keep you charging and moving on the go. we build them so they integrate into your lifestyle. i am technically a sixth generation -- my dad makes carousels, the zoo in frarnz is a denzel. the one in did i see anyland, in echo park, in washington, d.c. i had this legacy, but this upbringing of hands-on of building stuff. of being encouraged to think big, dream big and do big. it's charging your phone, right?
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>> the whole concept of nomad, to make tools for the modern nomad. it's a labor of love. i'm fully focused and committed to this. a lot of hours. the type of hours you don't want to count. >> noah, welcome to the cash crowd. the deal you're pitches is open to accredited investors online and the ones sitting right here. how much are you looking to raise? >> we're looking to raise a million. >> the cash crowd is ready to hear your pitch. you have 30 seconds on the clock. >> hi, our smartphones run or lives, so we shouldn't let them run out of battery. nomad builds minimalist products to keep our smartphones charged. we've sewed over 250,000 units,
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over 3.5 million in sales, all direct to consumer. i'm here today to help raid a million with oncircle to take it to retail panel, he is all yours. lynn, why document start? >> two things i need to get comfortable, first, i love that you're aer do, dreamer andmaker, we need to be the maker of things, but first of all, your year-to-date, at 70% gross margins and 30% marketing cost. for every dollar you sell it takes 30 cents to get that person to buy. you're going to go into retail but as of june, showing 81.5% margins and 20% marketing costs. i'm struggling with how that evens out. >> as we have launched new marketing -- new distribution channels, our marketing cost has dropped. also, as we launched new products, we have larger lifetime value from our customers. >> except that you are not in a new channel in june when you're -- you're -- you're --
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your marketing costs went down and gross margins, making it the same place or going up. >> our products were presold that we have now just got them live and they are going live this fall. our marketing costs are dropping and we are also in late-stage talks with two -- two major retailers in the united states for launching early 2015 retail. >> first of all, congrats on a great start. got really clever products acre mazing doing over 2 million your first year, almost profitable and fairly decent margins much the big journey you are asking us to jump on board with you is to go from a consumer-direct online model into what you just said, retail. how are you going to derisk that journey? >> so key to doing that is having a really successful and executed supply chain. right now, my co-founder, brian, would be here, were he not in china and he will it will be for six months. >> one year? >> factory is on the ground, building our products out and building out a supply chain that can feed that retail demand, which we expect to be enormous,
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based on what we have done direct-to-consumer to date. alicia? >> so we spent a lot of time together talking in diligence and you came across as a really smart, passionate person. and i know you have a big vision for the company. what if a few years from now, a big company comes in and wants to acquire your business but yet you still feel like you have so much more to execute and a vision really large ahead of you. how do you reconcile your desire to build this vision with an investor desire for an exit in the near term. >> you mentioned acquisitions there's been a lot of acquisitions in this space. we saw samsonite acquired spec earlier this year for $85 million. life proof was acquired by offer box last year for 350. otter box itself is for sale right now for 1.2 million. to the point what would you do? where are you? >> i see so much potential for us to build out more products the coming years that's why my focus is on product, r&d, continue to make products that make our lives easier. >> does that answer your question? >> it does.
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>> okay. one more comment. >> i am senate space, i know what it takes to take white space, need 20 products to walk into a retailer, do you have those 20 products now? >> we are talking with two of the top retailers in the country and they love all four of our products and excited to get them on their selves, unlike anything else they have currently and excited about the huge customer demand for them. >> what do you have behind them? >> oh, coming next? we have some secret products i would love to tell you about them off stage. >> how many? >> three. and smart watches a massive and booming product moving forward in 2015. >> it time to talk cash, will super panel show nomad the money? get the answer after this. >> and is the cash crowd online charged up about nomad? exactly how much the company raised so far, next. (vo) you are a business pro.
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come back to "the cash crowd" the moment of truth for me to wark the entrepreneur that created nomad, a company that wants to keep your smartphone charged. here are the numbers, forgive me. nomad's deal is live on crowd funding on the site circle up, where you're looking to raise up to $1 million, as you told us. you need the crowd to put up half a million, 500,000 to be funded. seeks actually where we are. well, congratulations. after four months, you have blown through that, hitting
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$520,000 so far. the question now is how much closer to that 1 million mark can we actually take you here or watch you go with the super papal? >> super panel it is decision time. the minimum investment in this deal starts at $10,000. alicia, let's start with you. >> noah, i think you're going after a really big market and you're solving real paying points, i love the way you branded the business and also like you a lot from the time we spent together. i would love to invest in your company. i would love to invest $10,000 and in fact, i will be in san francisco in the near future and i'd also love to sit down and talk to you about how i can be helpful in anyway from this point going forward. >> $10,000. >> $10,000. >> eric? >> noah, here's my bet. i think you havelogical worked out an interesting innovation model and what you've done online. i don't think this company ultimately is going to be a smartphone accessory brand for long much i think you're going to build it into a bigger thing of my bet is you're going to keep innovating, working with your direct consumer and then take those innovation and move it into brick and mortar retail,
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so i'm in for 10,000, 'cause i want to be part of that with you. >> lynn? >> noah, i think you have done a great job online. i think you have a cult following. i think the retail market's very different. i'm already in this space and it looks more like fast passion to me than technology, so i'm not going to invest right now, but if you can prove me wrong offline and i can help you with the distribution, because i have all those relationship, i would be in for big money. okay there is, in fact, another investor here, noah, who wants in. he is the founder of circle up, the platform on which you are operating, ryan co-beck, please join us. what do you have for us? >> on behalf of the circle up growth fund, here to announce investment into nomad. circle of growth fund a fund made up of third party institutional vendors and sophisticated individual investors looking for diversification, here to announce the fund is going to invest $347,000 into nomad. congratulations. >> thank you, that's awesome. >> that brings nomad's crowd funding total to $887,000.
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so you're very, very close to that $1 million mark. how much longer will the deal be live on circle up? >> the deal's live for several more months but we hope to close it out within the next 30 days. >> and then -- and then where will you take it? how quickly can you start moving? >> to offline retail? >> yep. >> hope to be in q 1 2015. that seem ambitious to you guys? >> no. >> you have the order, it's.a bish. >> i want a meeting with lynn. >> okay. thank you. >> very you got it. >> thank you, noah, thank you, ryan, thank you to the panel. that's it for now. be sure to catch the next entrepreneur looking to raise almost $1 million. he will come face to face with the cash crowd at 5:45 eastern time right here on cnbc. thank you for watching. the "closing bell" starts now. yet another big move for
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stocks today, welcome to the "closing bell," a i'll kelly evans at the new york stock exchange, bill, moments ago, load like another 300-point ral lip to wall street. >> i'm bill griffeth th. that 300-point gain. yesterday, highlighting the decline in oil, tragedy in canada, today, looking at earnings from the likes of caterpillar and 3 m, both which hit it out of the park and both whom very much higher today and contributing to these gapes we are seeing right now. >> absolutely contributing to the dow. all this in spite of the fact that yesterday, at&t missed earnings after bell. and for a time, on the "wall street journal" front page today, there's talk about what's ailing the blue chips. but again, a couple of big important ones today, reassuring investors a bit and note not just doubt benefitting, all the major indexes up to the tune of 1.5%. the russell 2000, highlighting that as well. look at that. up 1.8%. that was the hardest hit of all the major
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