tv Street Signs CNBC November 7, 2014 2:00pm-3:01pm EST
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dxy, dollar index closing higher. that has been a big theme. money coming into the u.s. whether currency or stock market. >> your week is complete as we end on currencies. thank you for watching. that's it for "power lunch." >> "street signs" starts right now. > america, you may finally be ready to get a raise. what the jobs number tells us about your paycheck and why one man says a new global boom is about to begin. why your tax refund may be delayed for a long time. meet the town that is banning fracking. >> an interesting story. let's take a look at what is happening with stocks right now. another strange day. we are kind of marking time as far as indexes are concerned but managed to get highs out the
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gate this morning. triple record highs. let's take a look at what is happening with gold up about $28. biggest one-day gain in nearly five months. the gold minor etf is really soaring today up over 6%. it is still down about 30% over the past three months but gold and the etf moving higher today. oil also moving higher for once and the energy sector has been one of the best performers. we are at 78.58. what did you pay at the pump this morning? >> $2.59 a gallon and it was glorious. >> the national average is higher than that still. it is down another penny to $2.94. you are just rolling. >> who is paying $4 still? some place in california, alaska, hawaii? >> thank you very much. let's get back to that jobs number this morning and get market reaction. joining us now is steve liesman.
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steve to you, you say this kind of job growth, i know a little under the estimate, that this is going to continue. how come? >> you may want to put a nerd alert about what is about to come if you don't mind. it does get a little wonky. the revisions have been very solid. not only revising the prior month but consistently the prior two months. that in general tells us we are in good upward trend here. the second thing is that the claims numbers have been very low. i have a chart for you that shows you when claims are low like this hiring remains relatively high. the government no longer subtracting from employment. we can talk about whether that is good or bad the government fires or hires. the government hasn't been taking away a lot of jobs. now it flat to maybe up 5,000 to 10,000.
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final reason. there is a seasonal adjustment. it was very strong in october. it means the unadjusted figure was much higher and so the result was jobs may be lower by almost 100,000. i hate to pin an optestic argument on the seasonal. that means we will get jobs back over time. >> it wasn't that wonky. it wasn't too bad. we had much bigger nerd alerts from you than that. >> i want to warn people in case they want to put on their nerd hat and put their calculator. >> what is a nerd hat? colored beanie with propeller. >> you ask and we shall deliver. some are saying we may be near top both in markets and economies. you are just the opposite. why do you believe a new global bull market is about to begin? >> first my nerd hat is made of
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tin foil. you asked who is paying more than $3? it is me here in chicago paying over $4. your tax dollars at work. you ask why we are on the verge of a great bull market, it has to do with gasoline prices. high energy prices have been the elephant in the room for the sluggish global growth environment because for the last five years oil prices on average adjusted for inflation have been the highest in history. we are finally getting relief on that. oil prices now are finally below the ten year moving average. you can't move the moving average down unless you have data points beneath it. we are finally there. the amount of u.s. gdp we are spending on gasoline in the last four months has fallen by 70 basis points. that translates into $100 billion. that is the same amount as the stimulus program put in place when we had the payroll tax
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holiday in 2011 and 2012 when employees only had to pay half their fica tax. that was $100 billion a year. that is the relief we have just gotten from fallen oil prices. >> based on your premise to say that the slow global growth is over, wouldn't you have to see prices continue to move lower or stay lower? we don't know that is going to happen? >> i predict it will happen. and the reason i do is because we have a technological revolution on our hands where the old fashioned dirty fingernails bricks and mortar oil industry joined the digital age. they are collapsing cost of oil extraction through fracking about as fast as intel crashes the cost of making semi conducters. this is a durable revolution. oil will have a 40 handle within the next two years. >> mandy, i want to under score the genius of your question which really got at an important
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economic principle which is that consumers are not going to change their behavior unless they are convinced the new price point is around to stay. >> absolutely. >> that has benefitted us on the upside with higher oil prices because we find consumers compensating for higher oil prices and we would not expect immediate or dramatic change. you are going to get some marginal gains this holiday season as people inch towards ple believing it is true. it takes time. if oil prices stay down and to have the kind of change in behavior that is critical to realizing economic gains from low oil prices. >> the only real way that we are going to see a boom in the u.s. economy even after everything we have gotten is if we have real wage gains. finally after years employers gave you a raise by paying more for your health care benefits, people got more in their
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paycheck. the number of unemployed workers is coming down dramatically. do you believe real wage gains are finally about to happen? >> real household income has been gradually melting up for the last three years. it is below where it was below the great recession hit. the way most consumer behavior happens is based on the change. you very quickly forget that you maybe had it better seven or eight years ago. this is a train leaving the station and gathering steam. you are right but don't overassassinate tove overestimate the fact it is happening. >> i don't get enough negative tweets and e-mail i want to make sure i get that -- >> let's change it. >> this is a little controversial. from a clinical economic point of view, not a human point of view, i am untroubled at the moment by low wages. i'll tell you why.
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there is an awful lot of labor slack out there. people are under employed and unemployed. what you want to see is you need to have the cost of labor come down to a point that it is profitable for employers to hire employees. so the idea that we have flat wages and people coming into the workforce tells me that labor is in a place of right pricing at the moment to get people to employ, to higher wages come down the road. at the moment with the slack you don't really want to see wages soaring right now because then labor prices itself out. you don't hire somebody as a charity. you hire them for profit, not for charity. when that marginal profit is adequate -- >> i will send you my own hate tweet because you said you are wrong in a minute and a half. sullivan, you are wrong. done. you went on this minute and a
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half spin. >> he will not get hate tweets for me. i will nominate him to run for senate. that was beautiful. thank you very much. thank you very much steve. thank you. today's sunshine stock is sears soaring more than 37% taking off on news it is considering converting 200 to 300 stores to a riet which it would offer to shareholders to raise much needed cash. with today's move the stock is now up about 8% this year. a judge just made a very important decision about america's biggest bankrupt city. just how much debt did detroit just get to write off? we will tell you when we come back. why the happy talk in d.c. may be just that, talk. what job number one for the new congress will be. stick around.
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gop leaders and just who might be the next attorney general. first let us begin with detroit. america's biggest city ever to go bankrupt just got a critical decision. what did they decide? >> reporter: judge steven rodes is still reading his ruling. the bankruptcy that you mentioned, the largest in u.s. history will be over. detroit will return to solvancy and get a new lease on life. the settlements that were reached to get this point border on miraculous. here is what detroit gets in the restructuring plan that was approved. $7 billion in debt wiped out. that is huge. $1.7 billion in improvements including blight removal,
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restoring city services, state aid will shore up the pension plans and reduce pension cuts and preserve the art collection at the detroit institute of arts which will revert to a private trust and will be protected from this type of thing all along. the judge says the plan is fair or is as fair as the creditors can expect. detroit is not out of the woods yet. this is a city dealing with wide spread poverty, population declines and declining tax base. they have to get on top of all of that. now for the first time in decades they really do have a leg up. >> thank you very much for the report. >> this afternoon we had a key meeting between president obama and the leaders of the new republican congressional majority. some democratic party leaders were there, too. john harwood is in washington. what is issue number one?
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>> issue number one is to get government funded through the end of the year. government funding runs out on december 11. what we have seen from the president is what we have seen all week since the election, spinning the results not as a repudiation as his own agenda. his interpretation is it is demand for results. >> the american people just want to see work done here in washington. i think they are frustrated by the grid lock. they would like to see more cooperation and i think all of us have the responsibility, me in particular, to try to make that happen. and so this gives us a good opportunity to explore where we can make progress on behalf of the people who sent us here. >> now, there will be some cooperation but i would expect it to be limited. government funding, as i mentioned, perhaps in the lame duck session, upcoming authorization for military force against syria and money for
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ebola. beyond that for the next two years looking at things like trade deals with pacific and european trading partners, perhaps some infrastructure improvements but not a whole lot beyond that, guys. >> thank you very much. and our third story, more developing news in washington and in a way on wall street. we seem to have a top contender to be the next attorney general. it was sort of like he was the guy thought to slot in. this is not him, it is not a guy. >> it's loretta lynch, the u.s. attorney for the eastern district of new york including brooklyn, queens and staten island. i think in new york there was much more of a sense that barara was one of the front runners. loretta lynch is looking like
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she is emerging as a front runner for white house to nominate as attorney general. no idea when that will happen. the president is leaving for an asia trip and possibly we might see this announcement come officially after that trip. the test of this cooperation that john harwood was talking about of whether republicans and democrats can get along in this town. we will see that when we see whether there is cooperation. eric holder has been involved in so many controversies of the obama administration and flash points between democrats and republicans over the past several years. his successor will be subject to a lot of scrutiny and a lot of partisan scrutiny on the part of republicans. >> what is loretta lynch's reputation like? >> one of her reputations is she is not as personally close to the president as some of the other people who were on the short list. that might serve her well in that contentious environment in
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the senate when she might need to get confirmed. that personal distance is something that a lot of people are looking at in washington. the president has tended to go with picks who are very close to him. this might not be somebody seen as a person inside the inner circle. >> thank you very much. why the texas town that basically invented fracking just banned it. and this time exactly a week ago we brought you the tragic news of virgin galactic's test flight crash. how is that affecting the most important launch of the year for nasa. 24/7 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. and you'll see just how much it has to offer, especially if you're thinking of moving an old 401(k) to a fidelity ira.
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poised to announce an increase in troops in iraq nearly doubling the number of troops up to about 3,000. i don't have my mic on. let me start over again. nbc news is reporting that the white house and the pentagon are poised to announce that they are set to increase the number of troops in iraq, doubling nearly to about 3,000 troops in iraq in the campaign against isis. they are saying they are not going to be involved with ground troops on the ground, that these troops will be involved with training and assistance of iraqi forces who are fighting isis forces in the northern part of iraq. this would be a significant expansion of what the pentagon has been doing in iraq. >> thank you very much. developing story. we will hopefully get more details on that. the most important space mission is preparing for liftoff but is doing so in the wake of two commercial space disasters.
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jane wells is at cape canaveral. what have you found out? >> reporter: there is a lot riding on this rocket next month literally and figurativity. monday night rolling out is this piece of equipment, the orion space craft which we got an exclusive first look at inside a facility at the space center. it could take man to mars into deep space. an unmanned flight will be 15 times higher than the space station to test heat shield. on everyone's minds are the disasters suffered on the private space side. >> it was a tough week. it is a tough business we are in. >> reporter: those were the first words at a nasa news conference referring to the rocket explosion. orion has no common pieces of equipment with those which appear to be at fault in those disasters. lockheed says a disaster for one
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team sets everyone back. >> i think sets back the public perception of can we fly safely. >> reporter: can we fly safely? >> i think we can and we continue to fly safely but makes us aware and vigilant that this is a challenging business. >> reporter: the only manned part of the test night will be the navy divers recovering orion after splash down in intentionally rough seas off baja. orion is currently being funded about $1 billion a year. >> when i look at the overall political landscape, the budget is tight. we recognize that. we recognize that we are blessed to have money that we have and need to be good stewards of the money. the things we are arguing about it seems the president and congress agree on this thing. >> reporter: once again on monday orion begins its journey out here. the test flight is december 4. if all goes well there will be a second test flight.
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2021 astronauts will go up perhaps where no man has gone before. back to you. >> thank you so much. a big fight is taking shape in a small texas city. this week voters approved a ban on fracking in the city of denton which is north of dallas. it is the first city in the lone star state to ban the controversial oil and gas extraction technique but the energy lobby is fighting back saying the ban clashes with state law. chris watts is the mayor of denton, texas. great to have you with us today. thank you for your time. i believe this started as a citizens-led grass roots petition. >> welcome from the great city of denton, texas. i think this had been percolating. what was the fire on the storm so to speak was wells were being drilled and fractured about 180 to 200 feet from residential community. and the noise and the nuisance,
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the light and some of the smells and fumes really provided the impetus for this movement to swell and explode. and they got the petition together and they were able to acquire the requisite number of signatures and came before city council and we denied the ban which put it to the ballot. it was approved tuesday 59% to 41%. >> do you agree with it? >> i agree with the process that the citizens exercised their right of self help through the denton city charter. i vowed them and vow to uphold ordinances. >> do you expect suits to be filed against you and against this decision? >> i don't know. we have a couple of suits on file right now. it just remains to be seen. we will have to take it on a day to day basis. >> basically invented fracking. do you think you are sending a bad message i guess economically
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to other towns in texas? >> i think mitchell energy developed the process of hydraulic fracturing. denton sits aboard the barnett shale. we have been dealing with trying to evolve with the changing technology. i think the citizens in our particular community decided that based upon the actions of some operators and based upon the nuisances and potential health and safety factor that they got a petition up and got it put on the ballot and citizens decided to ban hydraulic fracturing. >> do we expect other towns to follow suit? other towns in texas to do the same as you have done? >> i don't know about that. we have heard rumors about other cities that are considering it. i'm not so sure how many cities have pre-existing drilling activity within their community. that will be left up to each individual community to decide. >> pleasure to have you on
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"street signs." thank you for joining us. >> thank you for having me. have a good day. gold is up today. how is that for a segue? we are sure you probably don't know how much gold has been down lately. we have one stock coming up next that will show how far expectations have come down for gold and gold investors. later on, is there anything you pet owners will not do for for your cat or dog? one company is betting you have to be willing to step up spending. we will talk to the ceo of that company. it went public today. stay with us. how much money do you have in your pocket right now? i have $40, $21. could something that small make an impact on something as big as your retirement? i don't think so. well if you start putting that towards your retirement every week and let it grow over time, for twenty to thirty years, that retirement challenge might not seem so big after all. ♪
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personally, i prefer a slow internet. 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. time for something we do every single day at this time. our very first stock on this friday is planes gm holdings getting an upgrade. >> it was up to out perform by neutral boosting target from 35 to 33. needs some help. down about 18% just this quarter as oil as fallen. another upgrade this time for agrium.
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it was up to out perform from under perform. another two rating jump. they bump their target on agrium from 92. about 20% more upside. one of the highest targets out there. the average is 25. next up yet another upgrade. this one is for container store. >> bank of america merrill lynch upgrading to a buy from under perform. their target $24. bank of america sees 24% upside. we were talking about gold miners. you have kinross getting an upgrade. biggest one-day jump in about five months. >> it could use the help. down about 19% as gold has tanked, as well. it was upgraded to a buy at ubs. they did decrease target. they see a little upside. it is over our market cap
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requirement. canadian company won't hold that against them. final radar name of the week is walker and dunnlop. >> sounds like something you will drink tonight. >> maryland based commercial real estate company. wells fargo upgraded to outperform. valuation range is 17.50 to 19.50 a share. they see about 20% upside. average target of 25 analysts, 17.25. stock is at 15.90. now to talking numbers which is our daily look at a stock from a fundamental and technical perspective. today we look at disney. todd gordon on the technicals. steve cortez is on the fundamentals. todd, we begin with you. how do the charts look on disney? >> disney has been a very strong stock and a strong sector. if we look at what it has done relative to s&p as well as
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consumer discretionary which disney is the leader at 5%. those two are up about 80% to 100% since early 2011. if you overlay disney on top of it that stock has doubled the performance. you are talking about a very strong stock. fast forward to what has happened on the earnings we have a little bit of a gap down here. it is important to keep in mind that disney is in a strong uptrend. we have seen pull back to support several times and it is worth about $20 to $25 contained within the rails, the roller coaster rail. it is good for about a $20 to $25 pop. i see disney moving towards 100 in early 2015. >> see it moving up. we were talking about guardians of the galaxy. steve cortez, what do you think about it from a fundamental perspective? >> at least for the day the
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buyers of disney are frozen it would seem right here. >> that joke was not grouped. >> so todd is absolutely right. this has been a magnificent stock for owners. it has outperformed s&p for seven straight years. it is hard to say a lot fundamentally negative about disney itself. i will say this and a reason i am skeptical and the investors should pay attention because the earnings at least based on the headlines the earnings were quite good. the fact that we are seeing this kind of reaction tells me the long side was probably a bit crowded on disney. in terms of the macro i am concerned the consumer can't continue discretionary spending because wages are not growing. with a tepped wage environment you have to be careful about being long disney or similar discretioninary names. >> thank you very much. have a great weekend.
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>> is steve saying our viewers should let it go? the stock? >> please, please let it go. let it go. >> be sure to check out the online edition of "talking numbers" in partnership of yahoo finance. how many elsas did you see halloween night? >> my daughter did not want to go as elsa. >> every other kid was elsa except my kid. proudest moment of my life. the takata air bag story, we are talking allegations of a major cover up. will american prosecutors take punishment out on the car companies instead? you have to stay here to find out our stocks of the week. we keep it secret even from each other until the end of the show. it might be the same stock. who knows? that is all of the excitement. [ male announcer ] your love for trading never stops.
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. welcome back. let's talk about obamacare but not from a health care perspective but from a tax perspective with all of the complexities and the laws changing with regards to tax filings and credits could this severely delay your refund? i know my mom does taxes for a living and is in classes trying to figure out how to deal with this. >> i have been dealing with some of this for the last six months. part of my responsibilities is going to washington with the practitioner liaison committees and speaking with the irs and going through trying to determine what is really going on. and six months later we are still in a point where we don't know what is going on. >> why? >> the irs just released their forms in draft. >> in draft? >> they have had all this time
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to prepare for it? >> yes. but a lot of it is due to short staffing and trying to implement the affordable care act. they have the employer mandate coming in or employer share of responsibility comes in as of january 1. they have been getting budget constraints from congress. >> and your obamacare credits are based on your income so based on what you would file but then you have to file the credits. how complex is this? >> it is incredibly complex. what is going to end up happening people who receive credits will get a form in from health and human services that will detail what they received and what months they had coverage. when they apply for coverage they may have put in information from 2012 rather than current data. that is where the reconciliation comes in as to how much of a credit they really have earned versus what they may have to
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repay back to the government. >> how much of a delay in the refunds are we talking here? >> a lot of it can be started with the taxpayer not knowing what information to bring into they are tax preparer. what forms are going to be coming out because it is all new forms that are going to be coming related to the affordable care act. and depending on the timing of when the forms come out they are not due to be released from health and human service until the end of january. >> would you say if our viewers and listeners got a subsidy or credit for obamacare that they should file as early as possible or can they? will the forms be ready? >> they can file as early as they probably would like -- >> could they mondamend it late >> if they receive credits they will not get forms until they detail what the credits were. the timing of when they come out versus what they should have been receiving the best bet is to set up an appointment and do
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tax planning and determine if they will be in for a big surprise. >> thank you for explaining it to us. the "new york times" is reporting japanese auto parts maker takata corp destroyed results after it found defects deserving of a recall. it seems, it reads like some kind of novel that they were actually destroying evidence like this and thought they could get away with it. what happens now? >> reporter: a lot of bad things are going to happen. look, i haven't independently confirmed the "new york times" story. there are three major players here. one is takata, the air bag company, and about 17 million cars with takata air bags recalled world wide since 2008, 11 of those in the united
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states. more than half of those came from honda cars. honda is the biggest customer affected here. the other player here is national highway traffic safety organization which is on the offensive from bundling the gm ignition switch recall and now we have the air bag issue. this is going to be a long-running problem and a crisis for takata. >> what is the outcome here? you wrote about this in january, by the way. kudos to you and your research team for finding this out. most americans probably would have no idea that the air bag in their chevy is made by an obscure japanese company. what is the recourse? what can americans do against takata? >> first thing they can do is find out whether their car is on the recall list. that is the first thing to do, call the manufacturer, call the dealer. you can check with the national
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highway traffic administration's website. that's step one. if it is a problem you have to get it fixed. the other thing is who knows what the ramifications will be for takata? i don't know if it can mean bankruptcy or not. it is yet to be determined. one of the fundamental questions is we just had an election in america. a lot of that is about competence in government. we had the veterans administration scandal. someone will have to take a look at the highway traffic administration after general motors recall is botched and now this one. what have the regulators been doing? >> a crisis for takata. who knows what is on the cards whether bankruptcy or something else. it has about 22% of global market share for these air bag inflaters. it is no small company. it has a very large market share. who stands to win potentially
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from takata's down fall? >> potentially it could be other air bag manufacturers. trw and people like that. the issue with that, though, is that at least so far other air bag manufacturers said they have not noticed an increase in orders. it is entirely possible that takata could have gotten its arms around some of the manufacturing processes and is doing a much better job now than a few years ago. the truth is that's just not clear at this point. >> paul, it was a real pleasure. thank you for coming on. >> fascinating. if you remember only one thing about american business, let it be this. do not ever under estimate how much americans are willing to spend on their pets. >> and the ceo of a company that is not forgetting is about to join us, the chief of just ipoed fresh pet. that is next. hey matt, what's up?
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cats enough to serve them something better than what comes out of a can? the company that just went public is betting you will. first on cnbc is richard thompson. the stock is up more than 30% on the debut on the congratulations, richard. great of you to join us today. momentous day for your company. i don't have a dog but why would i feed him fresh pet? >> thank you for having me on. i like your quote. freshly ipo'd with fresh pet. >> it's poetry. poetry. >> exactly. fresh is just better. fresh all natural food, you feed your family fresh, all natural food. why processed stuff on a shelf for two years for a can? >> because they're dogs. >> all of the pets in america are celebrating that they have a pure play where they can go out and not only buy fresh food but invest in fresh food. >> richard, i own two dogs, had
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dogs my entire life and somet e sometimes three and four and i feed them well. i do not use fresh pet. there's -- is your biggest barrier the price. they sleep in the bed but how do you overcome the cost obstacle? >> the cost isn't really the problem. a little bit more but it's a great quality, great food and the pets love it. outfeeds anything in a can or bag like 10 to 1 or whatever it is. it's a huge amount. the fact is that fresh, better food, you think about it, humanization of pets and continues to rise around this country, pet spas, they have facebook pages, et cetera, et cetera. health and wellness trends, we with fresh pet at the right place at the right time with the rest of the product. >> what about feeding them off my plate and -- >> it's not 100% complete balanced. >> better than what i eat?
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>> maybe you should start eating fresh pet. >> absolutely. you can have some and enjoy it. >> organic. obviously feeding off the whole organic boom, as well. we have the pricing since we have been mentioned it. we put up the price. you say for a 30-pound dog, $1.60 a day. right? >> yeah. and regular feeding might be a dollar. so you're paying maybe 50 cents more a day. if you love somebody, 50 cents? come on. >> but what's to stop other companies from just jumping on this bandwagon? >> that's a very good question. >> they already have. >> no. that's a very good question is that there's nobody, first of all, nobody in the space but fresh pet. we have no competition. is that the companies now, the dry kibble companies and canned companies don't have the intellect. they make dry dusty kibbles or mystery meat in a can. you have to have the knowledge to make fresh food. you have to be able to have a
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manufacturing facility, we call the fresh pet kitchens. different equipment. it's a different kinds of factories. refrigerated and those assets do not exist with the current players. you have to have a refrigerated distribution system and then a refrigerated point of sale and more than 13,000 locations going to 35,000 locations across this country. so we have a lot of barriers that the players today can't just jump into this. >> who's sporm for getting the refrigerated thing in the pet store? >> we are. >> so if i own an independent pet food store and the six that are left in america, unfortunately, i wouldn't have to buy it? >> no, no, no. we put it in. we maintain it. we have -- about four feet wide and about 6 or 7 feet tall. we have a big header with electricity saying fresh pet and branding it. it's like the show room and great place to sell and maintain and merchandise the products. >> i see it. 100 pounds of dog food a month. believe me.
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i get it. i worry. i thought -- spending $75 for a 50-pound high quality dry dog food and that's -- i'm buying the dogs bad stuff. >> no. i'm not saying some of the dried kibbles aren't good but some clearly are and three or four dogs and the category is almost 24 $billion to $25 billion. all right? we are shooting, you know, for a piece of that for sure. but there's a lot of people like you that's going to throw that 75-pound bag and go out the store and what we're redoing is bringing more people to the store more often. like the milk and eggs. coming back to the store every week. >> buying something else. >> going to -- >> a toy. >> exactly. so the category goes up. we're the first people that have been able to help the grocery retailers drive that category. and we bring better margins to the retailers. >> good salesman. >> 40 some percent profit margin. >> that's what the retailers get. they love us for it. >> maybe kangaroo meat.
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they're vermin back home. >> listen. >> thank you. >> we thank you guys and remember, fresh pet. it's growing in america. >> it's what's for dinner. i'll have it tonight. >> my kids. >> making it for myself. >> if you buy it, your pet will want a slice. >> guess what's for dinner. okay. >> he is good. >> you're good. >> i found out i don't love my dogs enough. >> you hate them. >> they live better than i do. >> yeah. >> they live better than i do. okay? >> that's not saying much. >> we have the stocks and three things to know before you go and the best song of the year for me. >> the list of three things you need to know before you start your weekend. >> you said that. >> i'm reading -- >> ad libbing over your business. >> we'll be back.
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the day we give you hope. relief. a cure. today, we believe every life deserves world-class care. as one of the top four hospitals in the nation, over 100,000 people from around the world come to cleveland clinic for care each year. and we're ready for you with a second opinion or a same-day appointment today today today and everyday. call today, for an appointment today. [time warp explosion] yes! where have you been? the future! and it looks bright. but we need to upgrade our network power protection. no problem we're working on a smart ups system from apc and cdw. gonna keep our network powered and highly available. did you just alter the space-time continuum? we gotta go back. we can't. it's broke. uh oh...
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southwest airlines up about 10% this week, up about 35% in 3 months. you know the story. crude prices gone down. bear territory. loving lower jet fuel prices, as well. this is a stock, brian, not the only one out there, all the airlines doing well on this. >> my stock of the week, transocean offshore not giving earnings, cutting the guidance. rig slammed. not changed today but down. worst performing stock in the s&p 500 this year. >> okay. let's hope you sound really smart at a cocktail party this weekend. >> every friday now.
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three things to know before we go. number one, the best performing stock on the s&p 500 this week, whole foods market. by farment it's up nearly 20%. >> thing number two, big market moving economic number week next friday with the october retail sales report. find out if ower oil prices are starting to help. >> okay. the third thing the know before we go is, well, let's make it personal. right? new song topping my list of the 2014 best, this song is -- you know what it is and leave with a little bit of music on a friday. >> on that lovely note with the song, brian's favorite, check the markets for you. the dow, nasdaq, s&p marginally lower. the dow is flat. 0.07% move there. did hit new highs this morning. >> all right. thank you for watching. leaving you with the song. >> yeah. "closing bell" is next.
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hi, everybody. welcome to "the closing bell" to close out this friday. i'm kelly evans at the new york stock exchange. >> i'm bill griffith and starting with upbeat music here on this show. market trying to end on a positive note. bull market firmly intact here especially after what many are calling a goldilocks-like jobs number. below expectations but the previous two months saw revision higher. so we'll take a closer look at where stocks may be heading into the new week. >> yeah. there were a lot of good details in that report. also, oil rebounding a bit here getting close to that $80 a barrel level and that's a relief to gary evans. his company has a lot riding on shale and sinking prices could be a huge issue for those like him. he joins us exclusively coming up. >> great story. can you hear that echo? well, never mind, because it can hear you.
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