to see more, stuart. thank you very much. charles: i forgot about the tractor. dagen: i'm dagen mcdowell everybody. tropical storm isaac threatening the gulf coast region. we have the latest details coming to you live from the national hurricane center. the storm rains out day one of the republican national convention in tampa. can the g.o.p. get it -- [inaudible] -- back? and apple's win will set samsung back for years and a whole lot of cash. to the breaking news, the national hurricane center updating us on the progress of tropical storm isaac. live from down in miami, we're waiting to hear from the director of the national hurricane center. let's go to that right now. >> an attempt for the system to try to get better organized, but has not been strengthening so far yet this morning. we can still see the center of circulation on radar, centered a little over 300 miles to the south-southeast of the mouth of

the mississippi river. there's still some very distant bands affecting even the eastern part of the florida peninsula. there's still an isolated tornado hazard for central and northern florida. that will spread to the northeastern gulf coast areas and north central gulf coast areas tonight and into tomorrow. not a lot of thunderstorm activity in some parts of the circulation. just some disparate bands. so it is still not as well organized as it might get later. but we still think because of the warm waters and the relatively weak wind shear in the atmosphere that it would be able to strengthen a little bit in the day-to-day and a half it has left centered over water. as we look at satellite imagery this morning, much more concentrated thunderstorms overall compared to yesterday at this time, but still a little bit lopsided -- lopsided. somewhat drier eastern half of the circulation at least over water with more cloudiness and convection thunderstorms over and to the west of the

circulation center. so in order for this to strengthen, style going to have to develop more of an inner core and more concentrated thunderstorms wrapping all the way around. the plane is investigating the system all day today and tonight. the outer bands will probably start to reach the northern gulf coast sometime tonight. and so today is the day for preparing while the weather is still good. here's the forecast path that we're thinking: generally northwestward over the next couple of days. landfall of the circulation center could happen sometime tomorrow afternoon or night, depending on exactly where it makes landfall, if it takes the right side of the cone, it might take a little bit longer as it makes its way perhaps towards the mississippi coast or alabama coast. if it goes down the middle or the left side of the cone, it would get to louisiana perhaps a little bit sooner. but in any case, landfall of the center is not the beginning of the event. the beginning of the event is tonight when you start to see some outer rain bands

approaching, and that's why hurricane warnings have been in effect since yesterday because we want to give folks plenty of lead time before the weather starts to go downhill. hurricane warning still in effect from destin, florida, westward across the alabama and mississippi coastlines, through southeastern louisiana over to morgan city, and that includes metropolitan new orleans and lake pontchartrain. please, if nur the hurricane warn -- if you are in the hurricane warning areas, pay close attention to what your local emergency management officials are telling you. if you are told to evacuate, definitely do so. this is not just going to be a coastal event however. the winds from this tropical storm that we're forecasting to become a category 1 hurricane and can't rule out category 2, the winds will penetrate inland and so we could see some power outages, downed trees, maybe some damage in inland areas as well. then the rainfall, we could be talking about rainfall totals more than a foot, perhaps up to 18 inches in some spots, over a wide area near the coast and

inland over the states that isaac will be moving into here in the northern gulf coast area over the next day or two. that's it. we will have another update in one hour. live from the national hurricane center. >> that was from the national hurricane center down in miami with your latest update. we want to take you on the ground down to florida. marathon petroleum, the latest refinery to shut down or evacuate its workers as tropical storm isaac heads for the gulf coast. jeff flock is in florida with a lot more. and the pictures right now, jeff, speak for themselves. jeff: well, dagen, and rick was just, you know, i think really telling the story. we have storm surge already here i mean in a big way here, and it is high tide, but i was just reading -- excuse me, i was just reading their advisory. he said they hadn't changed the track in a real appreciable way, but it did bump yet again a little bit to the left. we put the track up, the new track up, you see it as bumped again to the left. that takes it closer to those

oil and gas drilling rigs out there. they are already being evacuated. but it continues west, and i will tell you, as big as this storm is and as long as we're going to have conditions, the longer those things are shut down before they can get people out there again. take a look at the surge out here. we've got some people, maybe you see, down the beach coming out to take a look at this. the beach is pretty well almost gone. the surge has come up and taken it on. and this, keep in mind, this is a weak tropical storm where we're standing here. this is the gulf of mexico. looks more like, you know, the atlantic ocean perhaps than the gulf. you never see kind of waves like this, on the gulf, particularly on the west coast, you know. this is how big this storm is. it's a huge wind field. and we're still getting the effects even though we're well 200 plus miles away from the center of circulation. one last thing before we get away, take a look at the satellite. if you put the satellite picture up, the question is where is that center of circulation?

that will tell you how close, you know, when they say when is it going to get there? if they measure it from the center of circulation. but that has changed because it's been so -- [inaudible]. we don't know how soon it's going to get. we will head north very soon ourselves and be there wherever it is. dagen: very good jeff. of course you are. just take care of yourself. that's all. jeff flock. jeff: copy that. dagen: jeff flock. day one of the republican national convention cancelled as the gulf coast turns its focus to tropical storm isaac. we're joined now from the convention in tampa by jim pinkerton, a fox news contributor. jim, do you expect this storm wherever it might make landfall nerls take some of the -- nevertheless take some of the energy out of this convention this week? >> it will take some. i think the news coverage will clearly be divided. there's a big news hole, it is august, not much else going on, so between the convention and

the storm, the convention will get plenty of attention. everybody's here. everybody in the political world is here. they are all paying attention. for better or worse, whatever happens, everybody will know about it. dagen: jim, there is a big effort underway this week at the convention to personalize mitt romney. we're going to get new insights about his church, about his family. how critical is that among all the messages that will be sent this week? and is it too late? >> no i don't think it's too late. i worked for bush 41 back in 1988, and we were way down in the polls against michael dukakis through the convention and he gave a great speech. that was the famous kinder gentler, read my lips speech that everybody loved. we went up in the polls and stayed ahead and of course won the election by 10 points. so i think look, everybody is going to be very curious about mitt romney. he's got a great story to tell. you know, all those kids and

grand kids and stuff. there's plenty there for people to get to know and like. two months is plenty of time. dagen: some recent polls show neither one of these candidates has been able to gain and maintain momentum in this election. but the focus is still for the voter, very much on the economy. in terms of the economy, what is the message that you want to hear coming out of this week, particularly on thursday? >> i think there's one message that people are going to care about, and that's growth. that's economic growth. and creating jobs. i think that romney ryan ticket has put forward a good plan on tax reform, including reduction in the personal rate and reduction in the all important corporate tax rate which is what i've been very involved in. the u.s. has the highest corporate income tax in the world. we've been number one since earlier this year. and so our corporate rate is 10 points higher than the average or the rest of our competitors, and of course in an environment like that, are where

corporate -- where corporate headquarters are leaving the u.s., that is, and unemployment is over 8% for almost 3 1/2 years, what mitt romney and paul ryan have to do in storm or no storm is show compassion of course for storm victims, but above all else, focus on what will the next four years will be like? how do you persuade people that a republican victory in november, including in the senate and the house, is going to bring a comprehensive tax reform, i think that's as vital as anything i can imagine. dagen: jim, it was great to talk to you. thank you very much. >> thank you. dagen: actually north of 8% since february. >> 8.3. dagen: thank you very much. >> thank you. dagen: billions exchanging hands, more on the merger as we will tell you all about it. and general motors shutting the door on president obama and g.o.p. challenger mitt romney. first take a look at the oil

market, about a quarter of all oil production shut down in the gulf of mexico ahead of isaac. we can see how oil is trading today, down almost a buck a barrel.

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dagen: breaking news to bring you about tropical storm isaac. barge traffic from baton rouge louisiana to the gulf of mexico has been suspended due to that storm. again barge traffic from baton rouge louisiana to the gulf has been suspended according to the pilots association. so it is my favorite time of hour; right? time to make money with charles payne. he has a technology stock for you this morning. hey, charles. charles: good morning. listen, you know, network appliance, it used to be network appliance. it was a juggernaut for a long time.

obviously collapsed with the telecom internet collapse but now i like the way the stock is coming back. the stock itself never regained the sizzle, but the company has. the company is really firing on all cylinders. on august 15th, reported earnings, beat the street pretty well. they have done a lot of other things. they said mid sized companies are picking up their products particularly for the cloud. believe it or not, they won the microsoft private cloud partner of the year award. i'm being a little facetious there. i tell you what i did like last week, last thursday they announced they were hiring 400 people in wichita for their plant there. 400 people at $73,000 a piece. i like the way the stock is acting. it makes a major breakout right around $36, i think it goes to 42. 41, 42. a lot of upside. i think right now limited down side. the data storage stuff isn't getting the sort of thing that it used to, i'm not sure why but this is a cloud play. in my mind it is undervalued. it's been mostly a sideways stock but it is acting pretty good. the volume is coming in.

again, the sizzle is gone from the stock, but the company itself is still rocking and rolling. dagen: you are always sizzling my man. charles: thank you very much. dagen: like the yellow tie. charles: thank you. dagen: making money with charles payne. we are watching the markets for you. oil was up earlier this morning but now down almost a buck a barrel, critically watching that gulf coast region, the gulf of mexico with about a quarter of all oil production shut down there. but it's quarter past the hour and it is about stocks now and every 15 minutes. hertz finally after a two-year -- [inaudible] -- making a big acquisition. >> buying a much smaller rival for 2.3 billion dollars. they have been after this company as well as avis getting in the mix there for about two years now. but the stocks are soaring all of them on the news. you can see hertz is up 12%. dollar thrifty up 7 1/2%, taking out a new annual high for dollar thrifty. ditto for avis, also touched

highest level in 52 weeks. right now up almost 6%. as for stocks flat but mixed on wall street. we have small up arrows for the nasdaq and s&p 500. back to you. dagen: thank you lauren. stock alert, gm banning both president obama and mitt romney from all of its plants at least until after election day. the u.s. treasury still remains the largest shareholder of general motors. that means, you, the american taxpayer, us. but the bailed out company was trying to avoid becoming a prop for either candidate on the campaign trail. take a look at shares of gm. up just slightly today. >> we will hear from our next guest yet about a possible recession. we will also talk about apple and samsung. but first here's how the

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dagen: at 20 minutes past the hour, i'm juliet huddy with your fox news minute. most recent update from the hurricane center says the outer bands of isaac will reach the gulf coast as early as tonight. as of now it is still a tropical storm but it is expected to strengthen. new orleans residents aren't taking any chances, they are filling up with gas and heading to higher ground as parts of jefferson parish have issued mandatory evacuations. a military helicopter caught fire and crashed in the capital of damascus. a group claimed the helicopter

was hit in fighting. state run media confirmed the crash but gave no further details. mr. lance armstrong may have been able to keep most of his tour de france titles if he had cooperated with the u.s. anti-doping agency's investigation. that is according to the usa today interview with the agency's ceo. due to the statute of limitations, it is possible armstrong may have only lost two of his seven titles. that's your fox news minute. i'm juliet huddy. dagen, i don't know what to say about lance. he disappoints me. this whole tour de france doping scandal upsets me. dagen: thank you very much, juliet. breaking news from south florida. airports there returning to normal operations, but airlines are already warning of cancellations in and around the new orleans area as tropical

storm isaac nears. airlines cancelled more than 230 flights today according to the tracking service flight aware. due mostly to that storm. my next guest says the chance of a global recession is close to 100%. but is big ben bernanke powerless to do anything to stop it? the federal reserve chief's big speech out west is on friday. with more on the phone, let's go to marc faber, editor of the gloom, boom, and doom report. mr. faber, you edit a report called gloom and doom among other words. why would we expect to hear anything else from you other than recession? >> but there's also the word boom. and recently i have seen buying some european shares in markets like portugal spain italy france because the s&p more than 100% above the march 09 low.

in europe many markets are at or below the 2009 low. dagen: okay. would you then short the u.s. market? >> well, in a money-printing environment -- [inaudible]. if you say for the next two months you have to be either 100% long or 100% short, i think i'd take the short side. dagen: okay. what do you expect out of ben bernanke? we are going to hear from him on friday. because, again, isn't europe in part contingent on what our very own central bank does here at home? >> i don't expect anything from a central banker because the only thing they've done is to create global crisis, the worst, since the great depression. so you can't expect anything

from them expect another -- [inaudible]. but what they can do is postpone the hour of -- [inaudible]. they can front load spending so the gdp looks better for a while while you have the fiscal deficit and while you print money and after -- [inaudible]. dagen: isn't your bet on european shares based in part on what the european central bank does to prevent greater disaster in places like spain and italy? >> not really because i think that actually these countries -- [inaudible] -- the euro, it would probably be for the european economy better. will could be a better high valuation of spanish currencies as they would have to reintroduce, and in italy the

same. but the markets would immediately adjust upwards for the currency. dagen: marc, what do you hate the most right now quickly? >> what i hate the most from a longer term perspective are basically european and u.s. government bonds, in particular the 30 year u.s. treasury. i think it is completely undesirable investment for two reasons, a, over the next 30 years, you can be sure that inflation will be higher and far higher than what the government is publishing today. it's already much higher because it e it's -- [inaudible]. so we have cost of living increases that are much higher. and number two, i don't believe that the republican, even with paul ryan -- paul ryan will

reduce the deficit because it will be very difficult to cut entitlement programs. and so the deficit will stay higher. triple c, junk, junk, junk. dagen: thank you for that uplifting insight on our economy. it is terrific to hear from you. very wise man. >> long live fox tv. dagen: now i like you even more. marc faber, thank you as always. we will bring you up-to-date on our top story. isaac, the progress of hah storm in the gulf. and gold hitting a four month high. what does that say -- well it is lower right now, but what is that saying about people's worries about inflation? first here are some of the today's -- first here are some of today's winners on the s&p 500.

dagen: the latest on isaac. the cost of the storm could pose to the gulf coast region. apple samsung, that court ruling in apple's favor. even under here is the bottom of the hour. lauren looking at another big money deal today. lauren: $3.7 billion. that is the largest so far this year. the bank sector here is creating higher on this news. both of these stocks are

surging. hudson is the number one stock on that s&p 500 right now. and auntie is also up 4%. that is the news in the banking sector. kind of flat, as can be expected. we are in the month of august. stocks are flat, but to the upside right now. dagen: thank you so much. the national hurricane center expecting tropical storm isaac to strengthen over the next few days with the outer rings making landfall tonight. joining us now -- how big could this storm get, joe? >> it could be as strong as a category three, perhaps a category four at landfall. what i am concerned about is the time of the year is perfect for the development of these kinds of systems. katrina was a very powerful

storm well out into the gulf and weekend coming towards new orleans. katrina was not a worst-case scenario for new orleans. she missed to the east. it forced the water into new orleans behind the storm. the problem we have with isaac is, isaac will be intensifying and coming into new orleans at an angle of attack that will push the full storm surge back to. this dark makes landfall just north of the mississippi, you get the full storm surge back. it does not have to be as strong of a storm as katrina. katrina's highest winds were 9200-100 miles per hour.

it would write about what katrina did. that is the big big problem. it could rival christina because of the angle it is coming in at. we feel it will be stronger. until the eye pops out, where he actually see the visible on, we are not sure of that. the problem this year, we saw it with debbie, as storms come close to the united states this year, they want to intensify. this thing came all the way across the atlantic with nothing. now, the next 24 hours, it will also move slow. katrina went right by. betsy went right by. this will move five-10 miles per hour through louisiana for a while. we are concerned this is a multi- hundred dollar storm. i said that to neil cavuto the

other day and i still believe that be the case. dagen: the well, joe nemec thank you. dagen: mandatory evacuations underway for part of new orleans. let's go back to jeff flock who is still in florida. jeff: getting ready to leave. what joe is talking about is just what we are getting here. he makes an excellent case for the worst-case scenario for new orleans. he is talking about that water pushing onshore. what we are getting here, take a look at this, this is very mild. this is called storm surge. the water pushes off the beach, driven by this went. we are looking at a very weak tropical storm condition right now. we are still getting surge.

joe is actually right, if you get a cap to or a cap three storm coming to new orleans, pushes a whole lot of water. he makes a point that this thing will slow down as it comes. take a look at that. that is what i am looking at. if that were to slow down and, you know, sit up there for a little while, push more water without wind, it could be a very bad situation. if you look at the track right now, that right quadrant when it starts to interact with the sure, you get friction and the potential for more conduction. you have a lotta water, rain and wind pushing.

all the points to the east of new orleans. that is where we are headed. we will see what transpires. dagen: take care of yourself, jeff. terrific reporting as always. tropical storm isaac missing the tampa area, however. still causing disruptions at that republican national convention. joining us now is rich edson. >> we have a light breeze and overcast. not much going on with the weather or the republican national convention. they decided to push today's events off this weekend when it look like isaac was going to hit tampa directly. they will babble out at 2:00 o'clock this afternoon. still republicans after losing a day will pull this off. >> we are containing to go with our program of tuesday, wednesday and thursday. we plan on the convention going

to those three days. however, we will make sure that we monitor the storm as it proceeds and see what happens over the next few days. >> isaac is largely missing tampa. republican officials still have their eyes on the gulf and isaac. you cannot have a celebration when you have to structure going on in the gulf coast, if indeed that is what happened. we have pretty much dodged the storm here in tampa. they still have their eyes on isaac. dagen: my producer pointed out and she does adore you, that you have on more gear than jeff flock and he is standing in the middle of a tropical storm surf. it is not even sprinkling where you are. >> are you saying i should not be prepared? before i can say that you are overdoing it a little bit. >> it was either a tie or a jacket. i did not even know what to do.

dagen: jeff flock is out there in a short and jeans. thank you, rich. we love you both very much. richard edson in tampa. early indications show that has been no major damages. a huge setback for samsung in both time and money. what the handset maker can do in the wake of friday's court ruling against it. the mega millions trade in baseball. the stark numbers that went from boston red sox to the los angeles dodgers. first, take a look at how treasures are doing.

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♪ >> a.m. lori rothman with your fox business brief. best buy shares are climbing. after giving richard schultz the right to the buyout plan. aol shares also on the rise after announcing a $610 stock buyback. $5.15 a share. the move is part of aol's final effort to return all the proceeds to shareholders. it is interesting. israeli prime minister will not be revising his investment portfolio anytime soon.

they thought he might be trying to avoid personal financial loss. that is the latest from the fox business network. giving you the power to prosper. ♪ they can be enlightening. hey, bro. or engaging. conversations help us learn and grow. at wells fargo, we believe you can never underestimate the power of a conversation. it's this exchange of ideas that helps you move ahead with confidence. so when the conversation turns toour financial goals... turn to us. if you need anything else, let me know. wells fargo. together we'll go far.

dagen: more news on tropical storm isaac. ships have been suspended between new orleans and the mouth of the mississippi river to to that tropical storm. we will bring you up-to-date. again, there will be more airline cancellations. europe markets are closing. ashley webster is here with the details. ashley: bank holiday. nice monday after the folks in the uk. the results in the trading have been mostly muted, as you mentioned. the ftse closed. in the meantime, markets treading water, picking up steam

later in the day on hopes that the fed and ecb will comment with some sort of stimulus. the cac and paris up nearly 1%. germany, top central bank repeating his opposition to that ecb intervening with bond markets. in an interview with the german magazine, the head of the bank said "we should not underestimate the danger that central bank financing can be as addictive as a drug." he also says the risk of losses would ultimately be borne by euro zone taxpayers. according to the latest survey, german business offices -- optimism following. the debt crisis having in increasing impact on germany.

at the same time, isn't this and consumers holding off on spending and investment after fear and the future. germany would eventually be affected by all of this and it appears the sentiment is starting to drop just a little bit in germany. that is the engine room of the euro zone. dagen: they better book up. apples $1 billion plus victory over samsung for patent infringement could mean higher smart phone prices for you, me, everybody. adam shapiro explained. >> it could mean that, but before we get there. the real effect would be a verdict over software patents. apple is, obviously, victorious. samsung will appeal. the question is about google. that is patenting the samsung

devices. we got a statement from google and google said to us, the court of appeals will appeal both infringement. here is a quote that applies to you and me, most of these don't relate to court android operating system and several are being re-examined to the u.s. patent office. to either get them to pay royalties for infringing on their software or for some other reasons. as of yet, apple not going after google. google, by the way, is going after apple. that is a whole another story. take a look at the other issues going on with samsung and apple. today we expect a list of the devices. on september 20, we will have a hearing whether judge: in simpson -- san francisco will

allow that. dagen: thank you so much for that update. every 15 minutes, it is stocks now. lauren looking at how apple stock is reacting to all of this. lauren: apple hits new historic highs today. this has apple is getting ready to announce new products in mid- september. not all companies are doing that bad on the apple news. google is down, of course. you can see here, nokia is surging. nokia has windows seven and will eventually use windows eight. volume is pretty big in the most actively traded stock here at this new york stock exchange today. as users do shut away from samsung, nokia users can pick that up. not everyone is doing that on the news today.

as for the stock market, green arrows across the board. would a small gains. dagen: a bit of breaking news on that tropical isaac. bobby jindal of louisiana will be holding a press conference at 11:15 a.m. central time. 12:15 p.m. eastern time on the preparations in that state. again, evacuations in some areas already under way. much concerned about new orleans. the seven year anniversary of hurricane katrina is on wednesday. governor jindal will hold a press conference at 12:15 p.m. eastern time. a little less than a half hour from now. gold multi- month highs. speaking of winners, look at them on the nasdaq today. ♪ so... [ gasps ]

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dagen: take a look at gold today. around a 4.5 month high on hopes that the federal reserve really starts its printing presses once again. david williams is managing director at strategic gold. does gold come down if we do not hear something more specific from bernanke on friday? >> i am not sure if that is the

case. i think gold rallied last week on the case of expectations of europe, china and the united states were all thinking of printing money depending on when mr. bernanke does that, we may have a short term drop. we will go up from here, i believe. dagen: what about individual investor interest? have you seen that way at all? really in the last year? >> i think individual investors have actually picked up in the last two months. we have had a very quiet here since last august when gold just took off and went to 1900, came back down and then went up too fast. it has been about ten months of backing and filling. we have had a much bigger interest in individual investors and gold. dagen: thank you so much.

david williams of strategic gold. >> thank you. dagen: american express has been a sponsor of the u.s. open for 19 years. cheryl casone has made her way out to the tournament. hey, cheryl. cheryl: good morning. we are at the u.s. open. the gates have opened. there is a much bigger crowd coming in this year than last year. as you mentioned, american express has been on the ground here as a sponsor for 19 years. the big story this year, they have a 20,000-foot fan experience. alexander chen marketing over at american express joins me now. you just loaded the app on my iphone. >> i did. if someone is coming out to the u.s. open, it includes something called my u.s. open. it allows you to pick the

players you are wanting to watch. cheryl: you also have a deal with espn. >> if someone is following a long, we have a co-viewing experience. it is actually a game. you play along with the broadcast. you earn points and win great prizes. cheryl: it is kids day at the u.s. open, everybody. there is a full tennis court inside. all the kids and adults being kids get to go in there. >> i tell you, it is an important investment for us. we know our customers love this event and come out to this event. a lot of people who are not members yet come out to event. it makes it more loyal to us as customers. and if they aren't got and make them think about our brand a

little bit differently. dagen: number one, we have seen revolving credit overall fall in the last couple months. are you concerned about the american express consumer? >> we are watching what is happening with our customer base overall. i think we have been very happy. our team has done a great job managing our customers and our risk. rewards and benefits was one of the things we ranked number one on. it is enhancing the lifestyle and things they care about. the u.s. open can be part of that. it is what sets us apart from the pack. dagen: it is also about basketball and golf. you have a huge presence in those sports as well. alexander chen, thank you very much. he runs sports entertainment for american express. coming up just after the noon

eastern time, we have 2012 wimbledon champ. he has a big sales push with mercedes benz and the commercial will be debuting tonight on cbs. a lot of buzz is on him. we will also be talking later on with greg. we will have interviews throughout the day. so far, the rain is holding up. cross your fingers for me. dagen: thank you so much, cheryl. here is all you need to know about football. the jets suck. there. [laughter] it is true. cheryl is coming up with dennis kneale. he will also be here in studio following the latest developments with tropical storm isaac and their impact on the golf course and the republican convention. cheryl casone will be up there with robert fetter. ♪ producers are committed

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>> i'm dennis neal. >> and hello everybody i'm cheryl casone. and we are live. hello dennis. at the 2012 u.s. open at the tennis center. we have a lot of big interviews throughout the day as fox business goes courtside. in this hour of markets now, i will be talking to 2012 wimbledon champ, roger federer, the highest paid athlete in tennis. he also has a lot of sponsorship deals. he is looking to the next thing in his career, and that is business. we will also talk to one of the top managers at grey goose. they are spending millions of dollars in sponsorship spending at the u.s. open and also hoping to sell a lot of cocktails. we will have the newest and the best cocktail from grey goose coming up. back to you in the studio. >> hope you get to see a little bit of tennis in between all that. we have tropical storm isaac intensifying and barrelling toward the gulf coast disrupting oil production. and jeff flock -- and jeff flock

is live in the storm's path. the governor of louisiana will hold a news conference at this hour. we are also live at the republican convention in tampa florida with the fallout. and bring on the fiscal cliff. our guest says the pain now is worth the gain later. top of the hour, stocks now every 15 minutes. apple hits all-time high earlier after that big win friday in a patent case with samsung. lauren is on the floor of the new york stock exchange. lauren? >> good monday morning. yes, apple took out a new historic high earlier today. and it's up very nicely right now as well because of that patent win that we found out about on friday. the nasdaq is up, partially thanks to apple, as is the s&p 500, up about a quarter and a third of 1%, for those two. the dow industrials are up just 4 points. such tight trading and light volume here in the month of august. on wednesday we get some economic activity going on on the calendar, gdp, the second

look at q2 comes out. that could move the market. we also have jackson hole of course on friday. we are paying attention to both of them, but this is a slow month in august on low volume and tight trading at the new york stock exchange. dennis? >> breaki ining news for you -- breaking news for you. the port of new orleans ceasing all operations at cargo terminals this afternoon because of tropical storm isaac. and you know, that storm making a path for new orleans is -- as it heads across the gulf coast. jeff flock is braving the elements for us in sanibel island florida with the latest. jeff: what's amazing is how far away this storm is from us and we're still getting this kind of activity, the west coast of florida typically a very sleepy quiet place, that's what the gulf looks like at this hour. i don't know if lance is able to see off to the left there, but we even have a crazy surfer out there. that's not uncommon along the

atlantic, but i will tell you here along the gulf it is fairly rare. what we're getting right now, dennis, is storm surge. we're getting the back end of the storm, but you see what this is. this is storm surge, what they call storm surge, and this is very mild storm surge. we even have a family down here. a young little girl. i bet you she's seeing her first tropical storm. but even as the storm is weak here, we're still seeing this kind of storm surge. if you get a cat 1 or 2 storm up north, you're going to see some major surge. they are talking now an area of 6 to 12 feet above normal. we are looking 1 to 3 where we are here so you do the math in your head, and you see how much more water there would be. walk back this way, lance, with us, real quick, and i will show you what that storm surge does dennis. real quick, before we get away, there you go, look at that, sea foam you get up here. lance, go ahead of me.

that's what you see storm surge doing, it gets back in and goes to places where it shouldn't be. that's going to happen in a big way to the north. >> thank you very much jeff flock. louisiana governor will hold a news conference in ten minutes or so on the preparations for isaac. already announced some evacuations in new orleans and suspended barge traffic there. we will bring you the governor's comments as they occur. the republican national convention in tampa said to make some major adjustments with the threat of isaac barrelling down. day one cancelled. i'm joined now by matt welch of reason magazine from the convention in tampa. hey, matt, you have to sit there and wait. it must be killing you. >> yeah, it is terrible we have to sit here in tampa on what is actually a sunny day and go to various party tents and enjoy ourselves. so it's not the worst thing in the world to delay politics by a few hours. >> you know, so i'm watching the preparations for the convention. i have to ask you, are the

republicans -- [inaudible]. we need hope and change and they are having a big debate over returning the nation to the gold standard. >> well, you know, i think it is an interesting theory but it kind of breaks down at the top. mitt romney didn't win the nomination by -- [inaudible] -- his competitors. he picked paul ryan as his vice presidential nominee but he also distanced himself immediately from paul ryan's medicare plan so i think you are pointing to something that there is kind of a warmth gap, president obama is more likable than his policies, mitt romney is less likable than his policies. i think his selling point is hey you had likable for four years didn't really work out that well, try this way now. >> why convention platform of

gold standard instead of a sellable more platform like let's get america back to work. >> we have had let's get america back to work. we have had the same basic language. a lot of the same language survived. the gold standard thing thrown in there with an attempt to please the ron paul fans. the center of gravity, the republican party, thanks to ron paul's sort of tireless fixation is now at least talking about the federal reserve. i don't think the gold standard will be the winning campaign thing in this election, i think the economy is basically is. platforms are not governing documents, they are an attempt to get the party together. we don't have a clear answer on where the party's soul is right

now. that's what we'll be watching. >> if the gold standard isn't going to raise the heart beat, a fed conversation may not do it either. thanks for being there today. have a good convention. >> thank you. >> bring on the fiscal cliff, our next guest says it's worth taking the pain now to fix the economy. michael pinto is president of pinto's portfolio strategies. if we let the automatic cuts go through, 100 billion right away and automatic tax increases that the deficit would fall from 7% of gdp to 4.2% but 2 million people get laid off. is it worth laying off 2 million people to make this happen? >> what's the alternative? this is the fourth year in a row of trillion dollars plus deficits. the real fiscal cliff will be a bond market collapse and a u.s. dollar collapse. that's what we should be concerned about. you know what? republicans and democrats have raised the debt ceiling for

years. the sequestration is our only hope to pare down these deficits. otherwise we're going to hit that real fiscal cliff. and there's no getting out of it. once international investors lose confidence in our currency and our bond markets, we will be rendered insolvent as a nation. so i don't understand, and i want to say one thing before -- i know you are anxious to get in there. i want to debate you about that gold standard. 20% of this fiscal cliff is cutting the spending from washington, d.c. and where do they get their money from? they get it from the private sector or they print it. so that in the long run is a good thing. >> since the meltdown began in 08, 09, have we extended our problems because we keep trying too much to avoid pain? is it necessary to undergo pain to fix this? >> well, it's like trying to avoid a hangover by staying drunk forever. we have to reduce our debt. we have to protect our currency.

if we continue down this path, we're going to be like greece. greece's two-year note went from 1.3% to 153% in two years from 09 to 11. it is the euro currency. a nation backed by the euro currency. >> -- lost our credit rating triple a and we thought it would increase interest rate costs. they are lower. let's say we take the hit and we decide we're going to lose 2 million more jobs, is there a cycle at some point though where the 2 million unemployed no longer pay taxes, they take out more benefits and you end up in a downward spiral and we can't get out of is it? >> -- get out of is it? >> that will never happen. once these 2 million people lose their jobs because they are employed some way by the government, you are not taxing the private sector as to the degree you were before so the

private sector will pull up that slack. it might take a year. it happened in argentina. it happened in zimbabwe. once they stopped their borrowing and spending. it could happen here in the united states. one year of pain, maybe year and a half and then we zoom our way into prosperity. >> if suddenly the deficit falls to only 4%, hasn't been that low since 69, is one side effect that our ten year rates actually go lower because they are even a less risky buy than they were before? >> what's wrong with that? >> i thought interest rates was a problem. >> no, low interest rates are provided artificially by the federal reserve is a huge problem. but low interest rates that come because we reduce supply is wonderful. >> thank you very much for being with us, michael pinto, we appreciate it. love that guy. gas prices pumping higher as tropical storm isaac threatens rigs in the gulf. the governor of louisiana set to update us on the situation there. we will bring that to you live. the surprise hit at the weekend box-office in an anti-obama documentary. we will look at why this movie was a surprising success.

and co anchor cheryl casone live at the u.s. open talking with the great one, roger federer. but first as we do every day at this time, let's take a look at metals.

>> louisiana governor bobby jindal will hold a news conference in moments on the preparations for that storm isaac. they already have announced some evacuations in new orleans and a suspended barge traffic there. we will bring you the governor's comments as they happen. more rigs and platforms shutting down in the gulf of mexico in preparation for isaac. phil flynn of the price futures group and a fox business contributor joins me now from

the cme. how is this affecting oil prices? >> right now oil prices are down right now and that may be a shock to a lot of people watching the show right now. but there are a couple of reasons, reason number one, all the shutdowns of all these refineries, the initial reaction by traders are hey, if the refineries are shut down, we're not going to be burning oil, that's bearish. but in reality, long-term it is actually bullish. what happens in these storms, even when the refineries are shut down, when they come back on-line, the demand for high quality crude is very high and crude prices go back up. another reason is there was a very strong rumor this morning that the obama administration's already making plans to release oil from the strategic petroleum reserve. that has not been confirmed, but we do know that the obama administration has been rying to get ready to release oil from the reserve -- has been trying to get ready to release oil from the reserve before the storm. that wouldn't be too much of a surprise. look at some of the list.

8.2% of natural gas production, that's offline. that's also going to rise throughout the day. and so far, 8 oil rigs in the gulf of mexico have been evacuated. that's another number that's going to go up throughout the day. the other big number to keep an eye is gasoline prices. the gulf coast, prices are exploding. the cash market is up 23 cents a gallon, and the spread is like 30 cents above where the futures are right now. so if you are looking at the futures, you only see it up 7 cents, that's because you are not on the gulf coast. gulf coast prices are going to be sharply higher. we're also seeing the other markets that are traditionally tight in other parts of the country. they are up big as well. back to you. >> thanks phil flynn. let's go over to lauren at the new york stock exchange. dow trying to go into the green there, lauren? >> yeah, actually it's right near its session highs believe it or not, up by 11 points. we are seeing green on this monday morning. and i guess that's the good

news. of course volume remains very low. i'm watching particularly shares of aol right now. they are pretty close to the highest level this year. they're returning 1.1 billion dollars to shareholders and buying back 600 million dollars of stock announcing a cash dividend of $5.15, and one more thing on the markets, dennis, this hasn't been spoken about a lot today, charles evans, the chicago non-voting fomc member basically saying that the market could use immediate easing now, but for some reason no one is picking up on this today, and it is certainly not moving the markets too much. back to you. >> thank you, lauren. and it's time to make money with charles payne. charles, what do you have? charles: carnival cruise line, they were in the news last week. it is a pilot program, i'm thinking about the guy who piloted the costa concordia. last two quarters beat the

street. of course it still gets no real should i say credibility if you will on wall street. i think though if they continue to do this kind of stuff, continue to beat, particularly like that, the stock is going to make a big move. i look for a breakout, 35 is a breakout. for me i think it has room to 40. you can see that chart, mostly sideways or you could even say you get seasick look at that chart. keep in mind, too, dennis, a $1 dividend. it's kind of been a wavy ride so far you have seen, particularly if they can make a breakout later in the year. >> very nice cruise ship metaphor. thank you very much charles payne. and despite hurricane isaac, it looks like the show will go on a day late at the republican national convention. we are live many tampa. and my co-anchor cheryl casone is live at the u.s. open. cheryl: and dennis, the games are going to go on today. obviously we are live at the u.s. open. i'm practicing my swing. but i cannot compete with roger federer. 2012 wimbledon champion. he will be coming up after a quick short break. you are watching fox business,

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>> at 22 minutes past the hour i'm juliet huddy with your fox news minute. the most recent update from the hurricane center says that the outer bands of isaac will reach the gulf coast as early as tonight. isaac rolling through the gulf of mexico as a tropical storm. but it is expected to grow into a hurricane before hitting land somewhere between louisiana and florida. in new orleans, parts of jefferson parish have issued mandatory evacuations. by the way, governor bobby

jindal will be holding a news conference momentarily and we will broadcast that live of course. meanwhile a government official says the death toll in hay that from isaac has -- haiti from isaac has jumped to 19. the regional total is 21. flooding and mudslides caused many homes to collapse. and a private service is planned for friday in cincinnati for astronaut neil armstrong who died over the weekend at the age of 82. a family spokesman said a national memorial service for the first man to walk on the moon is a possibility at another time. armstrong commanded the apollo 11 moon landing in july 1969. that's your fox news minute. i'm juliet huddy, back to you dennis. >> thank you very much. big sponsorships name the game as business goes courtside at the u.s. open. mercedes partnering with the u.s. open and tennis star roger federer at this year's event. cheryl casone joins us live at the u.s. open with details. cheryl: dennis, nothing says

high end like mer -- mercedes. 125 cars in their fleet right now that's transporting all the players and big-wigs around town. they also have cars on display. i spoke with the man who runs all the sponsorship programs here in the united states for mercedes-benz, and i said why spend all the money on the open? here's what he said: >> the u.s. open is the most important tennis event in the united states. just look outside, you have more than 700,000 people walking into the gates over these two weeks here, and we have a major presence here. so if you look at who is walking in the doors, the demographics are just perfectly aligned with our customers. cheryl: all right. so you heard from bernie. but obviously the man of the hour of the day of the tournament is roger federer the 2012 wimbledon champion. tonight mercedes-benz will be launching a huge campaign featuring roger federer. we had a chance to sit down and

talk to him and i asked him what do you learn from the corporate sponsors? here's what he said: >> the whole business part is very interesting part of it that's gotten so much more important over the last i'd say what 25 years and this is i think where you can be very thankful to the former generation of tennis players who were putting so much effort and maybe didn't get the financial reward like what we get today so i do feel very fortunate today. cheryl: you know, you do have some of the top brands, companies in the world do that sponsor, mercedes-benz, nike, rolex, right now on billboards all over manhattan, i'm not sure you are aware of that. how do you pick your sponsors? is it crucial to you to pick the right sponsor? >> you have to be a bit lucky as well, i guess, at times. i have been very fortunate that i didn't just pick the first one that came around. always had to make sense for both parties. i always thought it has to be a win-win situation. if it's just a money thing, i'm not going to do it. so eventually i started to play so well and like you said, at

times you can pick a little bit, but it's really some of it is just waiting and sometimes good things happen to me. i've been very fortunate of how it went. and then today i know how things work and i'm just very happy to keep things the way things are really. it is honestly a lot of fun for me to mix it up from time to time getting away from the tennis court and do some acting sometimes or do some good photo shoots and try to help the brand, making them excited and happy, that makes me happy as well. cheryl: you're the number one player in the world. there's nothing higher than number one, roger, at the same time, though, are you ready for the u.s. open sm do you think -- are you ready for the u.s. open? do you think you can win it? >> i'm extremely ready and excited about this place. i've had an amazing last what is it now 14 years at the u.s. open. it never gets boring, really. new york city is so exciting.

being number one as well is just a bonus for me. i really hope i can win. that means i can spend more time here in new york of course. cheryl: before i let you go, i'm wearing a certain ring. you probably recognize it. everyone in london was wearing these rings. did you have a good time at the olympics? >> i had a great time, fourth olympics already, my first olympic medal in singles was a dream come true. and i played for over 4 1/2 hours. i mean i was so emotional that i was very happy. it was a field where i wish it was gold but i was extremely excited about it too. cheryl: okay. so there you have it. he said it. look silver isn't gold, but still the fact that he is believed to be the winner of the u.s. open, he is the number one seed right now, roger federer, many around here -- the buzz around the u.s. open is that roger federer will take t all once again. he just finished again the grand slam, the 2012 wimbledon champion roger federer. we will also get a chance to talk to another amazing

champion. number three seed here at the u.s. open, serena williams. she is fresh off a win at the olympics. she did take home the gold. i asked her how do you continue to increase that williams brand? >> i don't know, you know, just keep winning i guess. you know, keep playing olympics and keep having fun and do what you do best and really enjoying yourself. cheryl: okay. so that was serena williams. obviously it is going to be a very -- [no audio] >> we seem to have lost cheryl casone. that was a fantastic hit. she barely been there a few hours and talked to two of the greatest tennis players in modern history. also waiting within moments to go to governor jindal of louisiana to talk about what's been happening in the wake -- or anticipation of that storm isaac. let's remember so that far 24% of oil production platforms in the gulf have gone down and 8% of nat gas. meantime, we have a little bit of time. let's go quickly to the new york stock exchange and lauren, i see that the dow barely positive,

but let's talk hertz and the deal. >> merger monday, we have a lot of deals going on today in the car space, in the banking sector. let's talk about hertz buying a much smaller rival dollar thrifty for 2.3 billion dollars. both stocks are surging on the news. dollar thrifty taking on a new annual high. and then avis which also tried to buy dollar thrifty a couple of years ago, they are surging today as well. they're hitting all-time high too. we do have a lot of movement in that car space. a lot of movement in general today. lots of stocks making big moves, but if you look at the big board, dennis, it is flat. flat is the code word for the month of august; right? not much activity. still in the green but the dow is only up 1.6 points right now. with that, dennis, i will send it back to you. >> that dow line basically masks extremes when you zoom-in on individual stories. that avis dollar thrifty deal, often in a takeover deal, the the acquirer the stock goes down, not up. but here the market clearly

likes that, dollar and thrifty themselves were separate companies at one point. but you have to wonder whether that takeover upside in the markets would start to get some new enthusiasm in stocks, but so far not yet, at least not from the broader point. thank you very much lauren at the nyse. all right. we're going to go to rich edson now, mother nature has other plans for the republican national convention. isaac forcing planners to make some schedule changes. joining us now from tampa, rich edson what's the latest? rich: they have changed the schedule. we thought we were going to get a convention today or a hurricane, and we've gotten neither. sun is coming out here. isaac largely avoids tampa and so still the republican national convention has pushed everything back. it's a big logistical kind of i don't want to say mess but imprint here in tampa. you close half of downtown, and when they made the call -- we're going to go back to you now. >> thank you very much, rich. we do have breaking news. louisiana governor bobby jindal

speaking now on the evacuations and closures in his state due to the threat of isaac. let's listen in. >> i do want to get one thing out of the way. our office has received several questions on this. let me get one thing out of the way, i will not be speaking or attending the republican convention in florida. certainly party conventions are interesting, but there's no time for politics here in louisiana along our coast. important, but there is no time for that here in louisiana. i will not be taking any questions on the convention or party politics. this storm, like every other store is nonpartisan. we all come together to fight against the storm to protect our families and property. there'll be plenty of time to talk about politics and political speeches after this is over. what is more important, we focus on the business at hand. i will talk about the weather service update. the weather service continues to

emphasize is that every storm is different. i know they are trying to compare this in terms of power outages, wind damages, that there is the potential to want to compare the track to predict storms like katrina or other storms, the reality is, every storm is different. the forecast shows the storm will make landfall as a strong category one, however, the national weather services also for passing the store will have a slow forward speed which means the coast will see long periods of heavy wind. i want to emphasize this, that means many parts of our state will have tropical storm or heavier wind or rain fall or slow speed could cause more damage as those forces accumulate. we are likely to see landfall late tuesday or early wednesday.

we are expecting to see strong wind for 20-24 hours. in southeast louisiana, there is a 80% chance we will see strong tropical storm wind. the tropical storm winning, i do want to emphasize this, it is a slow moving storm and because it is projecting across various parts of our state. there are immense parishes covered by the tropical storm warnings. it is not just coastal parishes. i do encourage folks to pay attention to the advisories and alerts coming out of the national weather service. there will be significant wind and rain from the storm. in terms of hurricane storm wind, there is about 30% chance of that in southeast louisiana that jobs to about ten-18% in the baton rouge area.

the forecast of hurricane force wind could last from anywhere from eight-ten hours. one of the things i will emphasize about the storm, because it is a slow moving storm but you could see an accumulation of wind damage, but also rain accumulation as well. folks do need to be ready for that as well. they have less confidence in the direction, their guidance on the direction of this storm. everyone in that call and certainly needs to be taking precautions. a lot of folks are looking at the center of the cone. it is important to remember that the storm two thirds of the time and up somewhere in that code. they are projecting five-10 feet above normal. in terms of the timing of the wind and rain, the onset of tropical storm will begin as

late as tonight into the early hours of tuesday morning. you add several hours to that for areas further from the coast. as early as late tonight going into early tuesday morning. we could see the onset of tropical storm wind. they are expecting two-7 inches of rain. it could be as much as ten-16 inches. they also expect tornadoes. we could see tornadoes tuesday and wednesday as well. the following parishes have declared mandatory evacuations. remember yesterday i did note that i strongly recommended voluntary evacuations in the 15th parishes that within covered by the hurricane warning. today we did a project that by this morning some parishes would make those areas mandatory.

lafourche parish, south of the floodgate. st. john, low-lying areas, they have evacuated. low-lying areas are currently in a voluntary evacuation. other parishes, parts of their parishes, i emphasize, these are especially likely to be happening in low-lying areas south of the intercoastal and levee protected areas. these are areas that have flooded before. areas when we have had previous storms have seen an accumulation of otters. today is the day, today is the day for those folks to get out of harms way. back of the stuff and get out. twenty-three parishes have declared a state of emergency. listen very quickly, we will get these to you in writing as well.

is that roush, jefferson, lafourche, livingston, orleans, st. bernard, st. charles, turbo and, jefferson, davis, cameron, saint mary and was baton rouge. we sent a letter requesting a free fall disaster preparation. fema tells us that request is still pending. they have that request in front of them. there are several updates. st. charles parish is only parish so far that has activated its .2. evacuation went. there are 13 red cross shelters that will be opening today. there'll be funds available for folks who choose to use that. there is a right cross application where they will update you with an open shelter.

the state is operating, right now we have 8000 critical transportation need beds available in state shoulders. the medical special needs shelter is at that lsu fieldhouse and baton rouge. plus 200 medical special needs that. we also have two shoulders and reports. there is a shelter with the thousand 600 beds as well. we also know that ten parishes are opening in parish shoulders, maybe more. they will again be announcing those. we encourage people to -- dennis: that was bobby jindal. fast talking. he focuses on this storm and gives us just the facts. it could hit as early as tuesday

morning. they could have as much as 16 inches of rain. a study came out today that if you look at the path of the storm, there is property in its path worth a total of $36,000,000,000.30 billion of it all is and new orleans which could at least afford another bat hit from a hurricane. back to rich edson now. >> dennis, when you think about it, the problem here for republicans and officials at the rnc is not necessarily the storm hitting tampa. we basically started here. putting on a convention, celebrating a candidate trying to tell a story when you possibly have a major disaster going on northwest of here. republican officials are watching that. the schedule is for the most part set good today they are just going to gavel out but about 2:10 p.m. this afternoon. tomorrow is one of the delegates cast their attention to that

romney. on thursday romney will give his speech. again, you have a major problem, a weather problem, a disaster, along the gulf coast. you may have to change plant here in tampa even though the storm largely the stuff. dennis: will apple's big patent went over apple yesterday stifle creativity? we will be looking at that. ♪ i'm so glad you called. thank you.

we're not in london, are we? no. why? apparently my debit card is. what? i know. don't worry, we have cancelled your old card. great. thank you. in addition to us monitoring your accounts for unusual activity, you could also set up free account alerts. okay. [ female announcer ] at wells fargo we're working around the clock to help protect your money and financial information. here's your temporary card. welcome back. how was london? [ female announcer ] wells fargo. together we'll go far.

>> i am tracy byrnes with your fox business brief. naming former tax giant executive its chairman and new interim ceo. he will receive 500,000 in stock options. campbell replaces -- it is buying hudson bank. it expands its reach in the eastern united states. and anti-expects to gain $25 million in deposits and 20 billion in loans. paying at the pump, the average price is put the price at the dollars $0.76. that is the latest from the fox business network. giving you the power to prosper. ♪

♪ dennis: stocks every 15 minutes. tiffany? lauren: what a great day for tiffany. the reason is so hot today. honestly not good numbers. profits and revenue missed expectation. they did not cut the four year outlook as much as many analysts thought they would. that is the good news. but they are hoping the holiday season will make the profits look a little bit healthier at tiffany. year to date it is down five-6%. i guess this is going to be a good day for tiffany, nonetheless. it's a decent day for the market. not much movement did i want to point out the material sector is dragging once again today. they are all down today. you can see the arrows.

trading activity is pretty flat and narrow. dennis, back to you. dennis: hurts and dollar thrifty are getting hitched. entering a 2.3 billion-dollar merger. beth, tell us first, often you will see a stock go down when they make an offer. both companies are up today. >> yes. good afternoon. the deal makes a lot of sense for both hertz and dollar 50. they now combined will make a good run at avis who controls both segments of the market. they deal very favorably. now hertz get a very strong foothold into the leisure market. dennis: of 11%.

the obama administration is taking a hard line. they stopped at&t from being allowed to buy t-mobile. do you think anything regular will get in the way of this? >> know because hertz said it will throw off the advantage piece of this transaction. at this point, because this deal has been so long in the making, it has been one to two years in the making, they will sell off the advantage portion of the business and so that, that was a piece that was holding up the deal. dennis: let's move to some other takeover stocks that you like. i love these potato chips. tell us about that one. >> i call them the three piece. pretzels, pencils and paper. it is a merger between lance which is the snack food, cape

cod chips and snyder which is the pretzel company. snyder was private and lance was public. what they are doing is merging the two brands together. the management team from snyder is taking over. lance has been and under managed company. they will strip out a lot of the cost, move to independent distribution and distribute the products nationwide. we think the stock is worth at a minimum 32-33. dennis: we will keep our eye on that. we are also watching pascoe. thank you very much for being with us. >> thank you. dennis: european markets starting off the week in the greek. ashley webster is keeping an eye on this.

ashley: it is the fed. the hope that central banks will do something. trading has been mostly muted in europe. the ftse and london didn't do anything today. it is closed. market did manage to move higher on the day on hopes that the central bank -- not bad. we will have to wait and see what the central banks do. germany top central banker repeating his opposition to the ecb intervening in the bond markets. in an interview with a german magazine, the head of the bank said "we should not underestimate the danger that central bank financing can be as addictive as a drug." there you go. greece getting into the cost-cutting ways. they will sell two of their three government jets. there you go. dennis: about time someone made a sacrifice.

thank you very much, ashley webster. the surprise hit at the weekend box office. apple hitting new highs. will it patent victory over samsung make apple lazy snack first, a look at some of today's winners on the nasdaq. ♪

dennis: breaking news on tropical storm isaac. the port of new orleans things

cargo terminals. operation by late afternoon. associated branch pilots at the mouth of the mississippi river ceased operations last night and the crescent river ports pilots and the new orland. apple they come over samsung could mean higher costs for you. i read a figure in the journal this morning. samsung had a chance to license those patents from apple and pay $24 per gadget. now it is a built-in dollar jury award. it could rise to 3 billion. >> eventually they will come up with new software. you bring up a good point did the real issue is why didn't

they go after samsung, why didn't they go after google. isn't the google android system potentially infringing upon patents that apple owns. this is a statement we got from google in regards to all of this. here is what the quote is from google "the court of appeals will reveal both infringement and validity of the patent claims. most of these don't relate to the core of the android operating system and several are being re-examined by the u.s. patent office." apple is not suing google, google, by the way, is suing apple. today apple will release its list of samsung products it wants the judge to prohibit being sold. also on september 20 the judge will hold a hearing on that list of products on whether or not they should be banned from being

sold. apple stock taking a big ride today because of this very important victory for apple. dennis: wow. i wonder if apple really thought it was easy to went against a korean company. thank you very much, adam shapiro. hollywood must be horrified. a lackluster weekend at the blockbuster office. a documentary pulled off a shocker. if placed in the top ten. the documentary took an even more than the number one film of the weekend "expendables to." the expendables topping box office so mostly returning films in the lead. take a look at what came in at number eight. the obama bashing documentary 2016 obama's america ranked in $6.2 million as sony's new flick

premium rush. the obama documentary taking in 5.7. we may not have that. they took away the soundbite. it says obama. coming up lori rothman and nicole petallides have more on isaac et al. got a good hit once it hits our shores. ♪

dennis: you can pay me now or you can pay me later. that was an old car part had. that is a lesson samsung got from apple. now i will turn it over to lori rothman and a special guest. lori: we a