adam: charlie gasparino's exclusive report. he will join us with more details. right now, we want to check in with nicole petallides to see how your investments are performing. speech. nicole: it accounts for nearly half of 1%. earlier today, we had some good news out of germany and china. that brought some optimism. they are still thinking that tapering is on the way.

let take a look at the new dow components. goldman sachs, nike, welcome to the dow jones industrials. it changes some of the earnings projections for the dow overall. back to you. lori: see you in 15 minutes. apple reported record first weekend sales. sales almost doubled the previous models debut. this calmness -- this comes after blackberry plummets.

brian, great to have you back on the show. >> thank you for having me. lori: apple pulls off yet another record. why were they able to do it? >> i think it speaks to demand more then anything else. you had a launch in the u.s., but also in china. it exceeded every expectation. it was a terrific launch. lori: apple is reporting it will come in on the high range. >> we agree with the forecast. we think it would have happened anyway. really, it is not a surprise.

the bigger news is the gross margin project. by raising that guidance, we think it is a good sign that the 5s is not that much more to make them the 5c. lori: is that the most of today figured that i have? >> that is apples corporate gross margin. just the fact that apple sold more phones than they expected probably raises the gross margin there. lori: i am not sure if your job duties allow you to give a price forecast, but juicy apple retracing that war anytime soon?

>> we have had it for the past year. this news gives us more confident that apple will see some growth this year. we think if they could just hold on to their core base of iphone users, we think that is good. lori: how vulnerable is this fingerprint technology? >> we think that these are the best hackers out there. there was a competition to try to do that. for the average user, we think it is fine. we think that apple has no not all along. it is something that has to work

flawlessly. for the most part, it has. right now, we think apple can, hopefully, correct. lori: using blackberry is in a death spiral. what does blackberry need to do to rehabilitate itself? >> i am not sure there is anyway it can it can rehabilitate itself. they are not selling any of these devices. we really do not see much hope for the company at this point. we think it is the value of cash, plus patents. really, we think it is trading at the floor that the company should sell itself to another buyer.

lori: microsoft out with an updated tablet this morning. it is thinner and lighter than its predecessor. microsoft also updated its bigger tablet. sales of the surface were $853 million. apple's ipod made over 33 billion. adam: elizabeth macdonald is here. i imagine it will be like when they allowed lawyers to start advertising. >> they do not have to go public. they do not have to file public filings with the sec. i do not think you will see the blimp flying over capital

stadium. a lot of these hedge funds already closed. the problem people are talking about is, you are telling these guys to self police. the little startups will have to self police. they also have to file disclosure filings. this means more sec, and no, cops watching the little startups or the capitalist or the hedge fund guys. private offerings caught three times money is raised. there has been objections to this. carl levin does not like what the sec is doing. it is as if they are jumping out

of the airplane and forgetting to check the safety of the parachute. adam: we see the claims that some of them may make. >> exactly. truth in advertising. adam: thank you very much. lori: a third session of losses. we have phil flynn in the trading pits of the cme. >> you would expect oil to be of. that is not happening.

it is flooding the global market with oil at a time where demand is weaker. it is a bonanza to the downside. lori: to bearish calls on gold. how is that being received on the floor? >> gold cannot get any respect. it has not been acting very good. you have to have -- if you believe the fed will not paper, i personally believe that the market is going back up. it is not such a bad thing.

a big thing about physical demand versus investment demand. when will the investment demand, back? gold does look like a better investment. i think that they are misreading it a little bit. lori: thank you. adam: shares of netflix are backing off. this is a first victory in a major category for an online distributor. netflix received 14 nominations. lori: move over, hollywood.

lori: william dudley taking it off. we will hear how dallas federal reserve president feels about the tapered talk. should we be worried about bernanke is driving? we will find out next. ♪

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it is currently not a worry. let's also talk about the floods in colorado. the analysts writing holdings. you are seeing both of those names with down arrows. nbc the worst of those two. back to you. adam: thank you. lori: richard fisher speaking out this hour. peter barnes joins us now from right here in new york and studio. always great to get this opportunity to chat with you face to face.

>> he says that he told bernanke when asked doing nothing at this meeting would increase uncertainty about the future conduct of policy. richard fisher is an inflation hawk. would like to get tapering down and get out of this. we heard from another said bank president. he was telling folks today that he voted against tapering last week because there has not been enough improvement. >> i did not get over the line. it will depend on the economic information. will the information support me being confident?

>> lots of fed speak this week. he sees it is hard to hit the conditions for an october taper. other fed speakers this week include the bank of cleveland. there will be a test later. lori: the tapered teas left a lot of people wondering about the feds credibility. will we see a market reaction? >> we heard so much from the fed speakers before september that

we could taper in september. it really set the market up for a possible taper. now, there are critics who say that will hurt the feds credibility. adam: we are getting bad economic news. you have bernanke last week. are they preparing because the economy is weak? the dow is down 51 points. >> bad news means more stimulus. obviously, maybe the markets are, you know this was a cartoon that was in the washington post this weekend.

bernanke must be getting old. his blinker stays on, but he never turns. it is really tough to be a lame duck. adam: the new report on how it could hit citigroup's profits. lori: little to boost energy prices today. why matt smith thinks oil prices are done. that is next. ♪ [ woman ] if you have the audacity to believe your financial advisor should focus on your long-term goals,

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♪ >> 23 minutes past the hour. i am lauren green with your fox news minute. militants stormed the mall saturday slaughtering dozens of hostages. 200 people were wounded. sixty-eight people injured. chancellor merkel one a historic

third term last night. fifty-nine year old merkel has been chancellor since 2005. president obama called her today to congratulate her on the victory. some could be worth a lot more. collectors will pay big money for certain serial numbers. the ones with all zeros and ending and one are expected to sell for as much as $15,000. let's get back to nicole petallides. nicole: we are watching but very very closely.

this is reminiscent of what we saw on friday. today, blackberry shares were down over 5%. they will be taking down about a billion dollars. they have a new blackberry app. that is not involved in what they are seeing. they announced that they are refocusing what the company will be doing. they are well known for security and e-mail and the like. we also talked about the fact that blackberry was exploring. we will continue to follow the story closely.

back to you. adam: nicole petallides, we are on top of the blackberry story. back-to-back league losses for crude oil. our next guest says oils goose is cooked for now. >> i think we rallied up here on a double whammy. as we have seen both of those situations develop positively in terms of no military action and the return and supply it is no surprise as where we are.

adam: i will quote that old tv we still have the possibilities of iran not working out well despite this new openness. this all could backfire. >> i think we will see prices arranged now. we will see more on iraqi production come back. we are seeing more supply in nigeria. the market is relatively well supplied. adam: woodlief break that if iranian oil was allowed back? >> i believe so. it is not likely to happen this

year. it will be another double whammy. this sort of tension in the middle east is this. then you will see barrels come back onto the market. adam: matt smith, we appreciate you joining us. thank you, sir. lori: watch out hollywood. plans are currently developing to build the worlds largest movie movie studio in china. the complex will have 20 studios. construction is underway.

real quick here, what did al capone, elvis presley and rob lavoie fitch all have in common? adam: that david and goliath fight that is underway as major banks go on the offensive. lori: nike, visa and goldman sachs all in. ♪ ♪

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financial. that equates to $9 per share cash. send it back down to the floor of the new york stock exchange where nicole petallides is also following developments on blackberry for us. nicole. >> we knew this is something we were following pertaining to blackberry concerning options and seeps like a good one or i shouldn't say it is a good one. $9.7 billions offer. black per entered into a letter of intent with fairfax financial. there will be termination of fee of 30 cents. they do also have the option for the go shop period for blackberry. this is the, latest that we are getting here, pertaining to this fairfax financial. so blackberry is in the transaction now and entitled to go shop period. the shares have been falling close to 6% prior to this we know that blackberry struggled in the latest quarter. announced they were firing 4500 workers and had been under

intense pressure with a write-down of likely $960 million. we'll see if they move forward with this particular offer by fairfax financial, $9 a share. adam: nicole petallides. blackberry story an amazing one since friday. we're staying on it. there is battle on capitol hill brewing between credit unions and big banks. the war has been going on for several years but with tax reform talks taking center stage in washington, d.c. the threat to your local credit union is bigger than ever. that is what the credit unions are saying with one side of the issue right now. we're joined by troy standing, president and ceo of northwest credit union association. i appreciate you joining us because at the end of the day, we're talking about, roughly $2 billion in taxes should the exemption be eliminated you about why would that impact the roughly 95 million people who do their banking through a credit union? >> well, thanks for your

interest in credit unions, adam. credit unions are not-for-profit cooperatives. as a member owner, each of the 95 million members of credit unions across the america would be impacted in their own wallets. adam: how so. >> as not-for-profit cooperatives, the benefits of the cooperative are returned back to the members and that hits them in their wallets and that hits main street america. adam: returned back to them in the form of lower interest rates, for instance, i just did a very unscientific comparison of a 30-year fixed-rate mortgage through a credit union versus a traditional commercial bank and they tend to be little less than what you get from the commercial bank is that accurate? >> that is accurate. to understand credit unions is the understand the structure and tangible value they deliver to the consumer every day. our study shows $120 per american household is a member of credit union is true tangible value they recognize year in, year out. of course impact to the communities. adam: so i have to let you know,

we did reach out to the american bankers association. we're still waiting for them to respond but in an op-ed they make the case why the tax exemption should be eliminated, they wrote, only, would only require credit unions to pay income taxes on profits they retain from their members to grow and expand or to pay members of the board. so are they making an accurate statement? i mean wouldn't it be possible for credit unions to swallow the $2 billion a year credit burden without raising interest rates that members of credit unions enjoy right now? >> it certainly would impact the margins of operateing a credit union as a not-for-profit cooperatives. those profits today get returned to the members, to the cooperative owners of the credit unions. it is important to note that credit unions do pay many forms of taxes. >> sure. >> whether payroll taxes or real estate taxes that support the local economy. our studies also show by taxing america's credit unions, dealing with america's deficit, it would probably only one the federal

government for an hour. >> we're talking $2 billion a year. let me ask you this because major banks in this company have 93% depots its. credit unions have roughly 6%, roughly a trillion dollars. why are bankers coming after you? is business that tight they want your members who get advantageous interest rate to shop with them instead? >> he will with the not-for-profit cooperative model certainly has benefits to the member owners and, i think, you know, the banks, certainly would be interested in not having any competition on main street. in america we found it very beneficial to have diversity in our financial institution landscape and having that local ownership, not pour profit cooperative charter certainly benefits consumers across the america. adam: there are 95 million members of credit unions with a trillion dollars deposited through credit unions that would agree with you. hey, 4.25 interest rate at 30-year fixed, versus 4.5.

credit unions are winning. we have to reach out to the aba we appreciate you being here. a lot on the line for 95 million americans. all the best to you, sir. >> thank you. lori: the 10th adweek conference is underway today and industry's top ceos are talking mobile media and how to make money with an audience constantly on the move. our own jo ling kent has one of the ceos. she joins us live from the times center. hi, jo. >> hey, lori, that's right. do you ever wonder how you end up seeing the geico gekko everywhere or funny cavemen? verizon media is $400 million a year company. they place your ads on the phone on the air and all different kinds of media that you consume. we're here with the ceo, bill koehn fence berg. thanks for joining us. i have to ask you what the company does. you're not creative side. you place it in front of people's eyes. >> consumer market like geico, capital one bank, beer brands,

years ago they go to creative agency to do everything. today creative agency does 30 second print spot and media ad. but they go to media agency to determine where the content will live. when you think about hundreds of millions of tv channels, ad, print, radio, tv, internet, it is everywhere. they determine the strategy and where the creative will live. >> you are very successful. you have capital one, united, corona of the a lot of ads fit very well. they're cheeky. how do you cater to millenials and people consuming ads in all different ways? how do you make sure yours stand out? >> first of all we have great partners who create really good content. secondly is today there is so much data available on individual consumers and the media that they consume. so we know for example, jo, we know a lot about you. we know what you like to watch. we know when you like to watch it. we know what time you like to

watch it. we know based on your psychological profile the best way to engage you. what will really get at your inner soul. so those are the tools that we use to help determine where the media is going to live. >> certainly a lost data has to do with your company and how successful it has been. bill, of horizon media, thanks for joining us. we'll have a lot more to talk about after this. send it back to you. lori: jo ling kent, many thanks. i want to remind everybody, we have a big breaking story, breaking last couple minutes. a deal for blackberry. $4.7 billion, $9 a share cash. we're all over it. continue to cover it this afternoon on fox business network. meantime deal in the works for the london stock exchange. charlie gasparino up next with the talk on the street including the potential bidder. always go the extra mile. to treat my low testosterone, i did my research. my doctor and i went with axiron, the only underarm low t treatment. axiron can restore t levels to normal in about 2 weeks in most men.

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>> i'm cheryl casone with your fox business brief. us airways and am are, the parent company of american airlines are extending the termination date of their pending merger by about a month, to january 11th. that is extra month. they will challenge the, the doj suing to block the merger alleging the deal will hurt customers. wal-mart will hire 55,000 temporary staff to work at stores this holiday season. retailer whiffle transition more than 35,000 employees from terri to part-time and another 35,000

from part to full time. general electric says it reach ad $2.7 billion deal to provide turbines and generators for six new power plants in algeria. they expect to deliver 89 generators global think year, down from 135 last year. that's latest from fox business.

adam: so blackry entering into a deal to sell itself to a financial company, fairfax financial. $4.7 billion deal. the question what do they want with blackberry? what do they see completing fair value for this? one estimate, $8.50 when you sell off the parts. one estimate two weeks ago, $10 billion. you know -- >> is fairfax a private company? adam: far fax financial are, fairfax financial holdings limited. doesn't say where they are.

>> this is a public company. here is interesting thing about it. i know a little bit about this company. they're some sort of a insurance conglomerate. if this is the right company, run by a guy named watts. i met watts son a couple years ago. they were target of short sellers. they were m this. this was interesting lawsuit. they went out and filed suit against the alleged short sellers, including as i remember, sac capital and jim chanos. they went down the line. i believe dan lobe of 30 point capital. this was a huge lawsuit a couple years ago. i don't believe it went anywhere. it was kind of interesting. shorts said this was a stock may have been kind of a fraud. that's what they were implying. the company never reached that, the company, shares actually went up over time. here they are buying blackberry. adam: it is canadian company, right? >> it's a canadian company. from what i understand it is insurance conglomerate. lori: it is public.

>> insurance conglomerate buying being blackberry. lori: the quote says, we believe the transaction will open a new transaction for black per. we continue the execution after long-term strategy in a private company. the focus, what is this telling you? adam: they will sell off the parts. >> i don't understand this deal because i don't know how it fits in with a insurance conglomerate strategy. adam: sell off the parts. make it profit and calculate day. >> that may be it. that is kind of an interesting deal. these guys were in the news a couple years ago fighting because they were targeted by very sophisticated investors, a company, read between the lines. cooking the books. they denied it. they fought back. they sued. in the end fairfax won. here they are. adam: talk about other deals. >> okay. adam: because you markets with what you broke this morning with possible london stock exchange. >> london stock exchange canceled the annual shareholders

meeting. those meetings are almost always never canceled. you cancel other events for that. when we first rather reported that it sent out sort of a shock wave among bankers and traders why would you do that? you know, essentially fueling speculation about a potential deal. now here's why shares of nasdaq spiked. i was pretty clear about this when i reported it. they spiked because, nasdaq and lse have been, like, on unofficial talk basis now for like five or six years. so there was a lost speculation about nasdaq. we reported that. we also reported first on fox business that there are no active talks between both sides. that is what our source is saying. take it for what it is worth. this is a volatile sector. clearly nasdaq needs to do something in the future. we don't know what. now that the new york stock exchange merged with ice. intercontinental stock exchange is small player. their trading volume is lower than combination of bats and direct edge. you think that is the logic here. there is lse story. lse is a fairly major exchange.

it is run by a major player in the exchange business. we don't know why they canceled this. it could be deal speculation. it could be, who are they buying? not nasdaq. maybe, maybe, singapore. could be a management change. or could be what they said, they're blaming it on on logistical reasons although i have not spoke to a person today at a major exchange or banker who thinks logistical reasons is going to stop an analyst investor day where you long scheduled this. everybody is waiting to do this and just about every time one of these things get delayed it is because of a deal or major material change. maybe someone is sick. we don't know. lori: could be something as simple as that, right? >> god forbid. you don't know. we -- lori: that is the lay of the land is consolidation. you talk to traders on the floor, they expect it because that is the universe. >> they expect it, when we report it shares go up which is a good thing. i think we laid out this pretty well. this was speculation about the nasdaq. they are not in active talks. they have been in unofficial

back and forth for many years. lori: what about the new york stock exchange-nasdaq hookup we were talking about. >> that's basically, in the ether. that is between, when you talk to executives at both places off the record, you see that happening? they will say yes, regulatory landscape has got to change. you know, they're just, not the total exchanges but their cash equities busy is not the big thing it used to be. that said, one thing i'm going to right after i finish this report i will put a report into prim watts and his pr guy. why they're buying blackberry is a fascinating story. far fax financial -- adam: could be canadian pride. canadian company, blackberry, insurance -- >> i didn't know that. adam: absolutely, toronto. >> maybe there is management synergies they know each other this is interesting for fairfax, a company under tremendous pressure not too long ago. lori: thanks, charlie. continue with questions and

blackberry why engage in this deal with keith bliss on the floor of the new york stock exchange. big story of the hour is the deal with blackberry. what is the reaction on the floor and can you shed any light on fairfax and why they're interested in blackberry. >> reaction on the floor like any stock getting halted. we immediately focus in and try to figure out what is going on. news pending. adam had it right, prim watts has been out in the press and say they owned a fair amount of blackberry for some time. out of canadian pride he would not see one of the iconic technology players in the world go down. taking them private in any transaction will give them the flexibility and manueverrability to right the ship so to speak, concentrate on what they do well. once the barrier of entries fell to other smartphone makers and wireless carriers, blackberry found themselves in a bit of a pickle because they didn't keep current on the technology. that is why fairfax is in there. it is all about saving an iconic canadian brand at this point in time and moving forward and

saving a lot of jobs even though they announced the big layoffs last week. lori: keith bliss, thanks for the color. >> thank you. lori: you were on to something. high-end meets midwest, the street designer who spent 100 years in outfitting biggest names in hollywood music. adam: jeff flock with a look at oxford clothes. ♪ [ woman ] if you have the audacity to believe your financial advisor should focus on your long-term goals, not their short-term agenda. [ woman ] if you have the nerve to believe that cookie cutters should be for cookies, not your investment strategy. if you believe in the sheer brilliance of a simple explanation. [ male announcer ] join the near 7 million investors who think like you do: face time and think time make a difference. join us. [ male announcer ] at edward jones, it's how we make sense of investing. [ male announcer ] at edward jones,

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adam: so "morningstar"'s brian colello joins us one more time for row reaction what he said at top of the show, if blackberry didn't get a deal they would be dead. looks like they got a deal. what do you think? >> exactly what we expected, $9 a share. hard to see a premium much more

than that at this point. we think that is the value of cash plus patents on hand. maybe some assets around the network operating centers. from a private equity investor perspective, you're basically acquiring assets. anything you can do to kind of turn around the business otherwise would be a positive and reward for them. lori: so, brian, as part of the announcement the consortium excuse me, has six weeks to conduct due diligence. blackberry is entitled to go shop period as they call it. since fairfax took the first step, what is the likelihood others are looking around, looking $9 and thinking that makes a lot of sense? that is doable for us to? what they see going forward and their strategy, which i won't detail in too much because of our time constraints what do you think about another bidder coming in at this point? >> i suppose it is possible. frankly over the past month we've been looking for buyers in the first place. the problem, especially if they turn into an enterprise only company and you're looking to sell secure phones to the u.s. government, to governments, to

enterprises and business, very hard to sell that business to a chinese handset maker or some foreign entity. so i think blackberry is really constrained by that we thought maybe in microsoft if they wanted to spend more cash to take away a competitor and get some of those enterprise assets. we thought private equity would be most likely way. adam: we appreciate it. we'll have much more. 2:00 of markets now may want to keep on this with you. reminder shares will open at 2:00. i believe ashley and tracy will take us into the next hour with this news. (vo) you are a business pro.

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innotis atork foyo th's heah numbe. unitedalcare. ta tseag to roo12lease. [ rth ] ors smal s uble mes on every purchase evy day. producdevery. bjorn just put i ony spark ca. [ rth why tt f ls? ahh, oh! [ gah ] great sinesses deservlimited wa he's ur wake upall. ahh, oh! male annouer ] get thspark business card fromit one earn unlimed rewards choose double miles fromit one earn uorcaac rewards on ery purchase every day. what's in yourallet? [ s now where's e snooze bton? y:elack. i'm tcy byrnes. hley: i'm ashley webster. brngews blackberry. the embattled spne maker nding a buy to take it private in nearly $5 billion dea shares expected to resume trading at anyom we'll hav latt dails straig aad. tracy aboutne week aont

he government shuts down. will lawmakers strike a deal fore cck ticks dwn? and no joke, to the lastitter second? "wall street journal's" gerry seib tells text battle in thisar coming up. ashly: apple shares juming some, well, 4% on hot demand for th n iphones but ao risinguestios about privacy and fingerpnt thnology. fox news's judge andrew napolitano says hackers are not only ones who cou abuse it. u wll have those details raight ahead. tracy: the top of the hour and timeor stocks. nicole on the floor of the new york stock exchange. nicole what is goin on with blackberry? >> first thing we shoulday it looks like it is resuming ading. we said it would resume trading momes ago andooks like. it is trying to settlento a space here. 3.8% to the upsid, above the $9 mark. what we talked about t la hr you do have fairfax consortium working with a letter

of innt now for blackberry. $9 a share. he deal would be valed roughly, $4.7 billion. this is a led b prim watson of canada. thisis canadian prior taking effect as well. on this new fn t watch the stock reopen and look how it is aring up 5.1%. of course blackberry can have eptions to do their due diligence. to go sho and obviously exercise any other options they may think are vble. in the meantime the financing for this deal,he consortium with fairfax are loo bank of america and bmoapital markets to provide the financing for this $4.7 billion deal. we know blackberry is struggling in the lest quarter. also they were exercising some strategic option trying to figure out what was the best deal going forward for ackberry. this is a $9 a share offer. the stock $9.09 a share at the

momen back to you. tracy: thanks, nicole. you have to wonderhat they will do with that. ashley: makes you wonder. adam shapiro sying with us to talk about the latest blackberry news. interesting, adam, what are you hearing? >> the important part, goldman sachs is updating their position on blackberry. what they have said they lowered their 12 month pce target from $12 to the $10, based on the sum of the parts and theoretal m and a valuation. we had a guest at 1:00 on markets now, this is no-brainer at blackberry would have to do a deal or they uld b dead. thatlackberry was on death watch. on friday at 3:00, they hted trading, revenue 50% below what the street was expecting. they are not telling the blacerry 10. the smartphone is not getting tracon. they have estimated 2 to 3 million devices unsold. the company has been shopping to

findotential buyer, potential savior. they knew ty were troube. the speed which their trouble ramped up on friday was pretty traumatic. you get this canadian compa, charlie gas talking about irfax financial, the canadian insurance company stepping in. what do you do with blackberry? who controls the smaphne market. ashley: you break it up, right? >>hey created smartphone market. as late as 09 blackberry had 50% of the iphone market iphone introduced in 2007. they lost it now. samsung, 30%, apple in the 20s. and microsoft operating systems competing wth androids. samsung is on an dry devices. at end. day some analysts believe you will have samsung, apple, i don't want to say microsoft, nokia, some kind of windows syst. tracy: i think for the shareholders right now they're thinking they will at least ge money out of this deal. the due diligence period ends

early november. lori made a great point you have to wonderf someone will jump in and say, somebody sees someing her maybe i offer 9.25 per sre ad now we have a bidding war. >> you look at their software and surity of their interface, ility toommunity is very good. the same analyst said, lookings they need to do a deal or they're dead, pointed out if they sell partfhis say to a chinese investor is the u.s. government or other governments going to want to have a technology in useh a potential adversary at least onomically could plug into? ashley: that's a good point. interesting. they havdue dilence through november 4th, fairfax. there is time to get into the books. maybe someone will come out of the woodwrk to start a bidding war tracy was talking aut. as you had someone at the beginning of the 1:0show, probably not. >> fact they did with a canadan firm. this could very well be canadian pride. you have a company that brought a great deal of pride.

tracy: or couldehop city. so much for pride. ashley: take it to the chop shop. tracy: thank you, adam. hley: than you so much. we'll continue to follow all the latest developments regardig blackberry. initial euphoria over the fed's decision not to taper, it's evaporating as markets digest whether the underlying message is an ominous one, basically is the economy still too weak to stand onts own legs and a small redtion in asset purchases. for more on t fed, let's bring in robert plick, ban don't know partners. bob, thanks for joining us. been interesting day. latest news on bckberry. might as well ask you, what are your thoughts onatt development with the smartphone maker? ada touched on everything that needed to be said. blackberry needed to find a buyer. everybod partnered up. even microsoft partnered up with

nokia. thk that would happen, probably at beginning of this year, microsoft would proably make the moves. i think the canadianompa nted t sor of stick to its homegrown, you know -- tracy: national pride. >> realy just happened there. i think blackberry found itself in a position tha you know, it had to do something and this probably made the mosense. of course it came at, you know, the timing that, you know, was opportune for them. it still doesn't solve the problem. they're no selling the phones and that's a big issue. ashley: that is a good point. let's lk at the market as a whole, bob. are we in a process of a pull back right now and if we are i this a buyin opportunity? >> not right yet. i think investors right now, right at home would probably be best served to make lis of what they want to be owning. i think as we move through these debates regarding the budget a the debteiling, that is going to give them a better opportunity to get in at better

pricing. what the fed sid las week probably had a lot to do with the economicnformation there is some questions about the economic health at this point but i do think th the fed probably could have moved and probably would have moved if it weren't for these debates going t down in washiton. if we can get through this debate period and we don't see th government shut down for an extended period of time, there is that possibiliy, but do think that this is really going to turn out to be non-issue. you know in the next month we're going to look back at this and see this is a buying opportuny. it i certainly going to raise volatility twine n and next seven days. ashley: right. >> we've seen a spike in the vix today. but i think, like i said, invests should be, makeing a list what they want to be ownng what will be happening going forward. the economy ismproving. t is taking baby steps. we're seeing improvement. and i think investors, take a lok at industrials and financials. companies going to be dog better in a rising rate

environmen fed will eventually taper. may not be right now or in october but i thi i will happen sometime between now and end of january. ashley bob one question, last question quickly. warren buffett summed it up last week when he said there are few areas with value now and th the market is essentially fairly vaed. wod you agree with him? >> maybe right now today. the market is trading at 15.3 times but i do think you're going to see multiple expansion because earnings are goin to pick up especially in the fourth quarter. i think if you just sort of wait n the sidelines, wait for the market to be fairly valued or more cheaply valued you're going o miss o. hley: very good. bob pavlick, thank you so much. of banyan partns. thank you for joining us today. >> you're very welcome. tracy: so much is going on including a countdown to the government shutdown. "wall street journal's" gerry seib says what will happen this week will have a big impact long after the october deadline. he ispext. ashley: plus apple turning heads

with the earlyphone sales, darn impressive but there are rising privacy concernsbout one parcular feature. we'll have a discussion with the judge right ahead on that. first time to look at how oil is trading on ts monda continuing to drop, down a buck 18 at $103.57 per barrel. well be rig back. ♪

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tracy: fed officials out in full force this week in the wake of eederal reserve decision not to start tapering its $85 billion a month bond purchasing progra peter barnes joins us with the latest comments. i mean, jeez like, every day someones coming out to speak their peace. >> everybody has to elain what happen. all the build up, everybody thought there would be tering last week, big surise, there was none. first up, richard fisher is in texas. he is inflation hawk who opposed qe. wants to get rid of it as soon as possible. he said in hispeechown there, that he td ben bernanke last week, the fed chaian during their meeting, quote, doing nothing at this meeting would increase uncertainty about the future conduct of policy and ll the credibility of our

communicatns into question we've been hearing a lot of that st-meetin here. speaking today, bill dudley, head of new yk fedal reserve. he gave a speech. he did not vote for taperi last week because labor markets remain weak and so ds momentum in the economy. >> in my view the enomyeeds supportive monetary policy adjuments on how the economy is actually performing how financial conditns are evolving and how this affects the longer term outoknd risks around it. >> next up, dennis lockhart of e atlta federal reserve bank here in new yorkpeing as well told "the wall street urnal" after his speech he does not think that ther will be enough economic iormation, enough dat betenownd the fed's meeting at the end of octobe t quote, dramatically change the picture on where the onytands so,oesn't soundike tapering for him by the end of octer.

that leaves a december meeng we t six more fed speakers this week, folks. caccopny continues sen green of boston, es tore george againt from kansas city. coach coach of minapis a evans of chicago and there will be a test after all thi. asey: we'll fail. go ahead. try: everyone is talking about the credibility isse. we asked day of announcemnt does this hurt the credibility? >> when we heard from bernanke and others we never promised we u tapen september. he is right. it would dend on the data. guess what, it depended on the data. the data is not been strong. ashley: theysttly overestimate the strength of the economy. >> they d ashley. ashley: end of story. >> they admit that. tracy: even richard fisher back in augu said the economy can handle bond tapering so. >> if y we too a down

payment, a slow, lnch, 1 or billion-dollar cut in q, on a 16 trillion-dollar economy, comen. try: right. >> okay. tracy: peter barnes. thanks,uys. acy: so nice to have you in studio. >> that's fine. >> pet is all or the place relentless he is. thank you, peter. let'set another check of blackberry shares. nicole petallies downn the floor of the nyse. nick towle what are we seeing -- nicole. >> high is $9.20. we saw blackberry move from gative territory. the newsairfax financial made an offer of $4.7 billion for blackberry and sharesre jumping. they are still up and up about 16 cts at 8.88. this whole deal is contient upon financing. it is contingent upon sharoldersgreeing wh it. meantime blackberry has the option to shop itself around. when i read analystsomments,

majority ar saying hey, better take the deal now wleou can. that being said, look at apple wch isompletely different story. 9 million applenits, sold over this weekend. the iphone 5s. and iphe 5 c. seems the s ishat people wt more. it is up to 490.40. three days easily outpaced 3.7 million that blackberry sold in an entireuarte that gives you some perspective. three days verus an enti quarter. something is wrong with blackber. ashl: thanks, nicole, thank you very much. we'll be back with you a bottom of t hour. keep an eye on blackrry says. tracy: we'll dig into apple. the new from time to time chnology raiing privacy concerns among many including our very own judge andrew napolitano. he is here to tell you w. ashley: plus an sec ge-chanr for venture capitalists and

hedge funds will have a direct impact on investors. liz macdonald is all over the story. sh wi be here next. first let's look how the doll is moving today against these currencies. generally it is wker excpt against the euro. the euro is down a pit at 134.95. oh, yes, angela mk back for another fourears. tracy: oh, yeah. asey: rest of the currencies you can see moving higher against the good ol'.s. llar. we'll be right back. capital to make it happen? without the thinking th makest real? a's vision witut the expertise to execute it... and the financing toake it grow? whatever your goal, it can change more than your business.

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>> 21 minutes past the hour i'm lauren green with be the fox news minute. kenya's interior minisr sai two islamic militants have been killed. militants stormed the mall saturday killing dozen oeople and taki hostages. the fbi can not confirm or tee nye any of the assailants are or were americans. chancellor aela mkel won an historic third term last night and let led her fellow ns victory in germany's electi. 59-year-old merkel has been germany's chancellor sce 2005 and defacto leader of the european csis response. president obama called merkel today toongratulate her on victory. >> newly designed 100-dollar

bills arrive on october 8th. some could be worth a lot more. collectors pay big money for unusual cereal numbers like for instce, all 2s or all 3s. serial numbers are more valuable and could sell f $15,000. those are the headlinesn the fox business network. lawyer back to ashhey a tracy. tracy: lauren, thank you very much. there is only one week left to pass bget deal t avoid a government shut down. include provision to defund obamacare. only adding fue to the ptisan fire. joining to us hancap the odds of fir governme shut down i nearly 20 years, gerry sei "wall street journal" washington bureau chief. a right, t can' happen right? this is like the death knell of the republican party if the government shuts down. >> well, it can happen but probably won't happen i think. although you never knowhat miscalculation can bring in washington but i think what's

likely t happen. the bill goes to the as a matter of fact,. the senate will turn the clock on eentially today so there will be a first vote on monday that will all the senate to take up the same bill. what the senate wl do is strip out vsion defunding obamacare, pass rest of it and send it back to theouse. thereill be a lot of legislative manueverring between here and there. it will tak most of the weekend. that is perfectly fin withost democrats. what they would like to do send the bill funding governme starting october 1st, next tuesdayackto the house as close as next tuesday as possible as the choice doesn't have much choice, swallow it, pass a clean bill funding governmentorhe e o the year and move on from there. we move on to moredangerous ground at that point and go on to the debt sealing. >> they're not getng anythin right down tre these days, including whingto rskins, no offense what are they doing? they move on to the debt ceilin which is your pointere. th notion wre going to defund obamacare, that is not

going t go anywhere. why are we wasting our time with that? >> i think house rublicans think they have a point to make. they thi they have a imperative from the constituents in dtricts where omaresk very unpopular. and frankly i suspect the wld beeve like the senate to go on record to voting fund obamacare rather than simply let it go by. theyil do that that is of particular ierest to reblans because it will compel democratic senators in clseacesa yar to cast a vote they will not be comfortable with th is the political game. i think what happened last week onebt sea something interesting. house speakeroehner, his lieutenants, managed to shift the goal of debt ceiling exnsion from defunding obamacare which is not particularly pop even with voters who like the law to delaying its implemention for a year. that may be a more politically difficul thingor democrats to oppose. we're not trying to kl it. trying t delay it. that is more subtle target. i don't think it will work.

when you startlang that sort of game on debt ceiling you're in more dangero territory. the country could absorb a shutdown of government couple days, defaulting on debt is serious business. tracy: you'rebsoluty right. goes to your point about votes and pushing off to next year, right? they want to go on record to say don't like this. if they push it off till next year that is the exact plat performform they all -- platform they run on. >> the spendin decions will t ge the government much more past the middle of december we'll be back to this by the end of the year. debt sea someting aifferent issue. even people who wnt to use the debt ceilingor levera don't believe it is good idea to that rticul gme. that will be resolved one way or t otherxtending debt ceiling yearr so down the road, maybe more. the spding argumen we'll be back at it again and again for the rstf the fll. >> i think for the rest of our lifetimes, gerry. >> there y go. tracy: gerry seib, "wall street journal" washington burea thank you, sir. >> gives us wk t do.

tracy: it sure does. talk t theedskins. what hpens if? >> i will dwhat i can. ashley: talkohe giants while you're at >> i no joke! what the hex. they didn't even show up. ashley: today the sec lifting a 18-year-old ban allowing coanies aertise to investors even thou they don't have abide by publi ompany rules and regulations. liz macdond her with what it mns for investors. >> what it means,good to be th you guys, by the way. they don't have to go public to get money. don't have to file financial documents with thec. they cantart meeting as you pot out, start aech company say or vture capitalists or private equity or hedge fun n advertise on television, internet socialedia. in print. the thing is, companies have raised threeimes mor money in private offerings versus going public a lot of moneyhere. but the question is, will this be a great boon to fraudsters? will it open a door to felons? e sec is saying no, it will

block felons. by the way getting back to hedge fund advertising i don't think you will see a bai capitl blimp flying over an nfl stadium anime soon because hedge fund guys have a lot of money. they don't nd to advertise. they have pension funds. >> right >> college endownt. aot of them are already closed right? the question who will be advertising? could it beittle guys, little startu? her's the problem. sec is saying you know what? these guysil self-police themselves. they basically are supposed to only advertise to rich people wi a million dollars of net worth. theyeaying, listen they have to get tax returns of these investors. really? investors will be givingax returns to these littletartups to make sure they're accredited by the sec? either thing is, the oth self-policing thing going on, they willay to them, sec will say to these guys youa to disclose to us, information about your companies and advertising. all of this senator carl levin didn't like. take a lookhatenator carl levin sai about this rule. he said esstiallyfhe sec is jumpingout of an airplane

and propong to cck th safety of i parachute on the way down. so you know, sound like a great idea but -- ashley: sec block all the felons i think of bernie madoff. ac i wa gng to say that. ashley: same sec. >>ight. ashley: not a level of comfort. >> n comfort there probably more work for the sec in lowing thi rul a lot o people are saying this is a great thing. itilreate more money for startups. ashley: that's true to >> and little investment shops. tracy: don't rely onec to get out the fraud. ashley: all right, thank you very much, emac. we appreciate it. boy, we're just ver-- cynal asou cane. alight, com up it could be the fine print of the willi tells us, one wayt gerri obamaca cou endp cting many americans more. that wasn't supposed to be the case, nex tracy: plus, our small report, small business, big ideas.

you will meet o comuck e trend withxplosive growth since the recession. it a cool company too. first take a look at so of todas wners and losers as we head out to break. s&p 5inners, apple right up top with the new gold pne, up almost 5%. we'll be right back. you know throughout history, folks have sfere om freenheartbn. butetting heartburn and then treating day after day is a thing of the past. block the acid wih prilosec otc, and don't get heartburn in the first place. [ malannocer oneill ea morning

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u're not linda. i'm lling in for offir ows. she used double miles from her capital one venture card to take an e vatio buckle up. let's go do cop stuff. [ siren ir ] license and venture card, ma'am. was ing too fa? ir ] oh, you'd be going twice as ft if y had double miles. maleouncer get away fast with unlimited double miles from the capital one nturrd freeze! don't touch the face! can i drive? absolutely not. what's in your wallet? y: 90 minutes until the close, nicole petallides on the flr of the exchange. ir mnutes after the news, acky'off tei high. let's take a close look at ese shares. in here at this time when t sck wa halted, it was down about 6%. the news abouthi $4.7 billion

ofr, stock,? he shares jump and move all the way up to 0 when it opened at 2:00. and here's what's been goi hereas you go underneath it to show the darend. it's holding the pitiv lin the moment. it'sup about .8%ittat $8.80 which is aually below the share ofng $9 a sha. but, of course, it's all contingent upon financing, shareholders agreeing and the otheptions that blackberry may or mayot have. e' f wha goes ver the next abo til november 4. that'shenhey have the time to do theirue diligence. as far a the jor market averages, i'm going tomp up so i can get theatest numbers, the dow jonesnstri do 45 poin at the moment. so you do hav these arrows. also there are some up arrows to eak o goldman sachs, nike i going into the dow, for

the most par down arrs on the stay o trading. tra: oil closing down $ a $103.59 a barrel. so today's ls me than 1%, third straight day ofecli for crude. ashley yeah. mong oo. all right, health insunce is expected to costnder well, cost less -- that's the game plan, right? r esid obama'sew health care law. but not without some other s. and accordg to report i "the nework times," insurers are liing door and hospital choices available to consumers to keep the cost dow ourery own gerri willis joins now. we've been talking about this, haven't we? >> yes. ocked, shked to find o there will be limitedhoes. let'srl dn into these numbers, because it's amazing. % of doctors will be available typicly that' an average.ns. that doesn't mean that's wat's goingto hen thisour state. and en it comes to hospitals, just 78% o hospitals. so here's how you should interet this. it nous tat there's

mitation on th doctors d hospils, right? it mayur doctor, maybe your hospital isn't in the exchange that you want tojoin on ocber 1st wh those exchanges open. t's also that you're going to be limited in the kindsf you can get. are you going to the most expensive and best hoal theest doctors in the hospital? probably n. u're g t os who chge less. doctorare willing to accepte lower pricau they want to be part of the group. you're going to be ctoro are wiing too with that lower cost. tr swhat happens? i mean, do just,e,deal withhis? do you actually think ther's any cehey could defund in the like we were talking about? >> well, i thinkt'nlikely. that's not my -- i mean, fraly, think the country can't afford be obamacare, and that'se rroblem wi it. as an entiement pogram, the price ta i simply too high. but i terms of defundi it, it's really ha to do at this thesexchanges are going to

open on october 1st, and i've teou, the test of whether they're successful or nowill be whether young ppl sign up, and tha's an open question. ashley: gerri, thank you very much. 'm aing we're going to talking about this tonight. >> absolutely. wel als be talking about you know when you read reviews onlif aunts other plac? are those reliable? tracy: no. 's twner's mother. >> i think so. andthe o. ashley: or complain out who's giving a bad review, y know? tracy: ex-girlfriends. >> ooh, tre's the inside voice right there. [laughter] ashley: you said that with a litle edge. tracy: you know, a little animosity here andhe. ll write a bad review. ashleythk you, gerri. tracy: i'm ju saying, just [laer] ming up on "special report," small business, big ideas ceo richard weissmantell u how he managed to boost revenue by sixfold in jti years. ashley: ps, serus safety cons out ap's new

ngerprint tool. neat idea, bfo news' andrew napolitano weighs in with concerns. but first, take a look at the 10 and0-ar treasuries as we head to thebreak. we'llriga. lennou ] sheets or bar? how do youet youbounce? bounce keeps my clothes fresh for weeks, even when they've been sit in trar a time. like those jeans you can't fit into anymore. uh...by that, i mean... maleou ] hodo you getour? long-lasting freshness. maleou ] hodo you getour? it's been that way ysie day you met. t ur ereile dysfunction - itld be a question of blood fw. cialis tadalil r daily use helps you ready anytime e mo's right. yocabe more confident in your ability to be ready.

and the me alis is the on daily ed tablet apoved trea and sytoms of bph like needing to go frequentlyr urgely apoved trea and sytomtell your doctor about all your medicaltis d metis, and asif your heart is healt enoughor sexual tivity. otake isf you takeitrates for chest pain, as this y cause uafe iblooesre. otakdo not drink alcohol takein excess with cias.in, siffects may include adache, upset stomach, deyed baachemule a to aid long-term injury, seek immedte mical hel r ctn lastg morehan 4 hours. if you have any sudden decrease or loss in hearing or vision, or if you have any allergic reactions such as rash, hives, swelling of e lips, tongue or throat, or difficulty breathing waowin stop taking cialis a get medical help right away. asyo doctor about alis f daily use a -tablefree trial. >> i'm melissa frais with your fox business brie acer has agrd to be acquiredy a consortium l b

fairfax financial in a $4.7 billion deal. blackberry's sreholders would receive $9 per share in cash. fairfax ownsprxima 1 percent of thesmartphone maker's common shares. an mroft unveid its new rfe ii androii tablets, the wor's largest software mpaay the updated vesions are thinner, lighter andaster than t oigin devices. and comi up at 5 p.m. eastern onmoney," an excsive wh s. postmaer ger, trick donahoe. the post office may need a urgent rate increase is it going to engh to save ? ths the latest from the fox busine network, giving you the power to pe

acy: so now our special report small business, bigas

our next guest got his start in the early education buness kn high hool when he was actually mopping floors at his faher's daycare center. after some time away from the sty, rpeed s father scho atued it to mulll dollar fnchise busess. ining us now, rhard eiman, c of the lrning experience. i have to be honest with you, bookedou because my dauger,e actually, habeen i one of my centerhe ihao go bk to rkulime. out, trust me,ournalist coming in, e does her hewor but they'rell over the place. there so daycre centers. how are you competing in this, asally, sixweeks to 6-year-oldge p? >> wl, listehere clrly a niche forrovi true ucation tohe children, and really focus on ah quality hhducational format. when th rcessn happen in 2008,e hd -- managementad make a decisionare w going to stay the same size we were

itohe mket of 200 with t enomy being untaorhowe attack th market knowing that our competitors were going t sl up their growngines? we made a decisiono ck marke so we clearly made large investment in technology and llowed ouelves the opportunity torow t business by havg reesourcend owledge tugchlo r personnel. and we we able to grow the ins al 400%rom the 2008 period. ingto the 2008, we did about $27illion of revenue sysm de, and we'll go ito this yr with at132 miioinenue. ty:u' oning about two locations per month, plans togo erseasto england now, d youve done this rlly cool rtrshith boly which connects franchise see to lend el th g money. all of ts has to have added to the growthnd ma it tt much a rit? people to op thse >> asotey. listen, we got hit with the credit market ch and w knew that small binesses we going to get hit veryar

so managent had to make a dision how are o franchisee going to cess bowfl eated aoi ironnt through their ternet site and having many bas bidith the fnchisees. go aheadi'mry tracy: te us quickly out tutor time, because itas tutor ime, rt? and ten you shut that down a rpenedover, i gues retroduced underhe lrni expeen lo. >> wel my fther's -- my parents' rst schol was lled the learningxperience in 1980. tutor time was tomrowed in 1--ormed i 1987, a then thamily ldh interest in thela '90s and we rertn 20. nd th period of time we expece bra.e learng trac how nd i kn you've gotallscool tchno for the kds inhere n. if someone is intereed in opening a franchise what do theyo? ow th findu >>ell, ty ceainly n call

corraffice in boca aton, florida, they can go online to theleningexperience.com and ob tfoatn. anisee tt hast had anye childcare experience but wants toll a syst. we've theisak oer years n'wanth to. tcy: iell you what, no matt what, opavto go toork, so you can understand why youidokay ng recessi. richa weissman, thankou, a i thank cterfor taking goodar of my daughter. > thank you so much, anthank uor at complint. i apeciate it. hl: lrit. l,heay, by t way theecondlaestlm market in the wrld,nd growing r faster than t.s., but can cha actlly reple hollywood one tyco isou to t. interestin story. dennis kale joinsit more. rs chinansisted o artnerg th hlyod, disney h a chineseartn for makingthe film "ion man" 3, biggst filso farhis yea bu now ey want to all but

replace t magic kingd a holywood. a ina-basedycoon of t propeyiao aia ueiled anso build the larst sud in the world. thecompwi built and knowns the thing orienal mie op. tel museu, ahepark, and could stanril holwood by making to 30 u.s.-gred rleasespeyea plus a hdred films a yar suppedby local prors. t group aea has sigd dealswith fourant ages inhe u.s., insuring a spl t fghtainudng onartycaprio and john trolta,ll of ome on ha this weekend r the announcement. this comes at a te whenchin is roilinthe worldilm rket. its sor arbitrari rning hubs dnn an fis,theatehaveeen

late i fking overoyw shre of theox fi, yet hlywoodee winghe middle ngdom because tat's where the money is china' film maet has been grwing 30 esident or more veryar whiheu.is ck tosrowth i digit the busiss mol oft ils t ing ausmer, then dmainbe pane andultimately fakin ove nty ak o entirely. 's also loing for a studi the stwhen any reign osiderued mon ito lyhoywn,an so.vesoros we my snsee wether the e h any btt luck. ashley: the want slicofthe ction,don't the a tir gong spend some big buck sure. rkein some oft, wilbele kno wee gotth expeis and ey wil be payg r. hl: than y. >> okay, gs. try: its quater t. timeor scks,eith s joins us now.

we've be talking so mh about blackbry, wh gon in th rst ofhe marke aht] ds itrely matte trcyah >>ll 'veeetalkinbout blackber a fnd the loongbudget batte, but o a t two this that eang t market day. eada from e feralmive serve, fo last week, so they're rlly tryi to furring outkn -- fireut what put to wlk on ar anile, wha this ttle loomingown withur politiansbohe itibl fors hiing the d this is real goingosak, dri ourarke for a while. actulywh i,it ming ppl sit th sideleoment. a vry low volume day, should in ctrt to fday. op eoingto sit on eit so sidelineswe're goi to wait w disaster ns un down in washingtn. so expect voli u ti g a couplofweeks of

iy fccma i tnk. tra: you arethe bearer goo news da arenou, keh blis all right then se son. [lghter] ig epcism h in line withur asle hs. hs obod, isn tracy:he gothe mo. hley: he di arit, c u rising securi fears aut apple's n prtchnolog it's vry cool,ut there u be sme dgers behi jge andrewnalitano says ciolate you privy. he nt. acy: ase hea to eak, let's te a look at mef today'sinners and leron thasdaq. apples s the and whleoo. grana, tsiorme well beig back. ♪ male nocer ] tg of ingso ijust aapway. ♪ male nocer ] tg of ingso troducing &t digalife...

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