tv Markets Now FOX Business September 27, 2013 11:00am-1:01pm EDT
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interview with co-founder tom sullivan coming back. you are not going to want to miss this one. dagen mcdowell is here. is yours. dagen: there have been issues that i read about. i can't wait for that, have a great weekend. the senate set to vote in the next hour. but then what? the president's health-care law, looking to keep the government running. step down as commissioner for america's past time. is this the second act? we are not making this up. federal reserve chief ben bernanke, and ready to give up these for salad? mcdonald's will soon let you choose between fries or greens in the value meal? same price. is there ever a line you are standing in where you don't see somebody playing that game? the makers of candy crush are looking to crush it and go public. that and more including connell
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mcshane this hour of markets now. connell: fried a lot of cool things and not so cool things to talk about. we are fired out about ben bernanke and a baseball hat and all these things. danny dagen: any reason to talk about baseball. there's a lot to get to this hour. the first vote coming in the next hour on capitol hill to keep the government running, dan henninger of the wall street journal will join us to talk health care and a lot more. connell: all these succession stories. no. one before you get to ben bernanke microsoft's alan mulally of fort wanting to replace steve ballmer. and nice timing to take the job. chairman of the commodity futures trading commission and at the end of the year we talk about that because he was
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talking this morning. >> the president embarked with the format in 2010, and to the commodity futures trading commission. >> cftc's near completion of the reforms shifting to a transported rat market place. and the marketplace with access, give investors, consumers and businesses great benefit. dagen: peter barnes, the 1-on-1 interview coming up next hour. connell: first to the markets. anything to avoid the government shutdown. and nike and new hot, strong earnings, nicole petallides on the stock exchange. nicole: i enjoy sports more than government shutdown topics so let's look here at 90.
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and it is 26 this year. and an unbelievable performer, they came out with their numbers in europe. all the will less in china. those reports were more meager. and back for basketball and running category did particularly well and other sportswear peer say. in the dow component as well. connell: the first succession story we will talk about is from the business of sports. and commissioner bud selig will retire, he says he is out after next season, and convenient time a forester and fed chairman leaving his post. john paul, national baseball
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writer at foxsports.com. and when we talk about baseball, ben bernanke. is there any chance, some people seriously asked about it. ben bernanke considered a baseball commissioner. >> ben bernanke, expires, and the political governments peer, it is important for that person to have a baseball background. there's a certain form of president in dallas this year, president george bush did own the rangers for a time, close friends with nolan ryan so we will take anyone from the political sphere it will probably be him and even the chances of president bush being the next commissioner probably unlikely at this time. connell: almost like condoleezza rice who works for him wanted to be a football commissioner. we will see if the former president is up for that. a multi-billion dollar business,
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all major sports are but baseball revenues, records continue. you can make arguments against the sport that other sports move faster and football is the most popular sport in the country but the numbers, steroids can land a meeting els look good for baseball. tell us the candidates you have in your mind that keep that going. >> fascinating because there are two different groups of candidates, the old guard guys that are already in the commissioner's office, basically bud selig's number 2 is an excellent candidate involved in pretty much everything associated with the game, labor contract, and very high up and the commissioner's office, very low on the broadcast side. and bud selig said it. and earlier this year, it is valuable for the commissioner of any sort, baseball or any other have experienced running a clutch but if you look at that
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side, detroit tigers and those guys are possible candidates as well. ashley: connell: the money being spent on guys like alex rodriguez, so yes, people not performing so whatever reason in new york, why is it so important, bud selig said it, so important to have run a club. to have that background and be in charge of the sport. >> the commissioner has said any issue writ large in baseball is something somebody running the club has dealt with before, the overall growth of the teams, revenue structure that exists in baseball, they have one of their own or a club president because bud selig having worked with donors for some time, we see values skyrocket and dodgers told for $2 billion so basically that internal club is a very byzantine process we are going
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to see. the college of cardinals have nothing on what will happen in terms of park avenue and choosing the next commissioner based on what exists here. if somebody really knows the mechanics, levers of power, that is where the need to have somebody familiar with the club level comes. connell: smoke comes out of the headquarters. >> we did notice when we put these faces even the ones you mentioned, white men on the list, is there pressure to consider other candidates, whether from latin america where the game is so popular or other candidates this time? >> great question. baseball has over a long time mandated minority candidates to be interviewed so there will be minority candidates considered here. very high up in the league should structure, the commissioner's office, i do think in general very important for the next commissioner to have a good understanding of international baseball. that is where the game is growing globally, relations with
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cuba going forward, and relations in the country and games being played overseas and next year begin australia and very strong, bud selig has said in the past you can't recognize the way the game is 15 years out when we maybe see a global seas where a champion of major-league baseball play the champion of the japanese leagues a lot of potential. the next commissioner must have a deep understanding of international aspects of the game. >> we will watch this closely. thanks a lot. dagen: staying on baseball, it was an emotional farewell at yankee stadium. mariano rivera walking off the mound for the final time in his 19 year career as a yankee. no ordinary sendoff. andy pettitte and derek jeter came out to take rivera the final time. and crying in baseball even
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among men. here was the crowd. [applause] the xrt by don't shed a tear. rivera came back on the ground to grab the amounts to grab some dirt from the mound as a memento. and $169 million. connell: anyone who deserves that, the baseball begins. the number one. dagen: it is port. seems like good guys to play mariano rivera. dagen: and actually kept. i just they make always wonder about taxes and agents and
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managers. and in some people's cases, there you go. the next chief for microsoft. i love this story. alan mulally, the ceo of ford, a new winner. connell: kind of interesting. we will talk about it and taking fries out of a meal. mcdonald's even surprised if you choose a salad instead. salad or fries. dagen: keeping your dogs have the. do whatever american does. give them some pills. put the on anti-depressants. we are not making this up.
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to take an early vacation. buckle up. let's go do cop stuff. [ siren chirps ] license and venture card, ma'am. was i going too fast? oh, you'd be going twice as fast if you had double miles. [ male announcer ] get away fast with unlimited double miles from the capital one nture card. freeze! don't touch the face! can i drive? absolutely not. what's in your wallet? connell: dagen mcdowell loves this story. she is all fired up. ford ceo in the the lead to become microsoft's next ceo, if you believe reporting of the wall street journal. dagen: we are joined by charles payne and the chief economist at moody's capital markets. does it speak to how diverse businesses are that you have the
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dude who runs complaints at boeing and go to ford, avoid a bailout and he does deserve credit for that. he even mortgage the ford logo at one point to raise cash. would it be a sound choice to let him run the software company. >> nabisco took over ibm and saved the company and that was in far worse shape and actually microsoft is in great shape today compared to where ibm was. connell: especially with the discussion of who would be the next baseball commissioner and george w. bush or somebody and the debate about industry specific experience versus leadership skills. what do you think? charles: alan malawi has both. he has passed over a couple times at bowling, and say that a critical point. obviously he did an amazing job and he would be respected. investors love it and people that microsoft will respect him. it will be a win/win, is just
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whether he wants the job. connell: microsoft in a situation where growth is not what it used to be. this is spending on software, the latest quarter up by 3.5% from a year ago. it is 10% average annualized growth rate ten years ago above 11%, last ten years less than 5%. of microsoft wants to return to the growth in joy in the past, it obviously has to look for new products, new services. dagen: if you look at what alan mulally has done in terms of putting in car technology to use, a huge advance turned around the entire american auto industry. i am referring to the connectivity of smart phone and everything you can do and the interface. charles: getting better. at some point, and that point is valid. no matter who takes over, this
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last deal microsoft did is another anchor in addition to the head winds john talked about, so you do need someone who is the visionary who and think outside the box. his selection would be thinking outside the box. i just listen, ballmer had a shot for a long time, there were two -- pc center for too long. he had a dingy and enthusiasm but there was an intimidation factor, maybe certain talents not allowed to flourish and that environment where flourishing challenges what it is all about in silicon valley. dagen: would you take the job if offered? >> if you feel you are capable, actually, accelerating growth at microsoft is what you want to do. there's no turnaround involved and he might very well be quite capable. dagen: and the house in seattle
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after living, after working when he took the job, the house in seattle, and reported it has been discussed that he wants to move back. alan malawi, baseball commissioner and microsoft moving around. dagen: blackberry reporting a major second quarter loss. is this company even going to be in business? >> when you talk about the fairfax offer, perfect financial,$.7 billion, their business for blackberry striving to achieve at this point changing the focus of what blackberry does and that is the original focus of businesses versus the consumer. businesses, everyone using their blackberry because it was being addicted and fail greatly and came out with their latest
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quarterly numbers with a stop loss of $1 billion, revenue to the downside and warned going forward they are laying off 4500 people and see whether or not this $4.7 billion bid actually comes through and in the meantime this company which has been struggling greatly with layout and the like, the ceo recently got this golden parachutes that up of $55 billion and $55 million and he gets a nice big golden parachute. looks like he is going to get that. >> mcdonald's giving customers healthier options which we will talk about. the puppies on prozac? we will do you while increasing number of dog owners are giving their pills to that 4 legged friends because they're bad pet owners and can't take them -- teach them to the without giving them drugs, that is what is going on. is not a dog, it is you.
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>> 23 minutes past the hour your fox news minute. u.n. inspectors are in serious investigating several sites where chemical weapons allegedly were used. seven locations will be examined including the damascus suburb where hundreds were killed last month. report on the findings may be ready by late october. the european parliament will vote next week on a rule that would extend the number of hours a british airline pilot can live in a two week period. the pilots union says it could compromise safety. recent study found half of the commercial pilots surveyed admitted to being asleep when on the flight deck. the rule would increase the maximum hours to 110 which is up from 95 and up to 11 hours the night from the current 10.
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and the pga has made tiger woods its u.s. tour pleasure of the year for the first time in four years. the eleventh time he has won rihanna. won five events and led all players with more than $8 million in prize money and those are your news headlines on the fox business network. back to connell mcshane. >> we will talk about mcdonald's added decided healthy to its value meal, it is offering a side salad, fruit or vegetable in set of french fries. not the first time mcdonald's has tried this going help the. in july of 2011 made some headlines by tweaking happy meals, reducing fries by half and adding apples to every order so this is the latest wrinkle in all this. let's look at the mcdonald's share price since peer talking about the company down by $1. dagen: jack in the box launch these four will it not meals, and she kneels. my favorite is we don't have a
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shot of apparently, if you go to the web site you can look at them. the exploding chicken sandwich with mozzarella sticks. and white cheese sauce or the girl cheese on a cheeseburger. . let's talk about dogs on drugs. dagen: people are not the only ones popping pills. hats are too. prescriptions for anti anxiety medication like prozac for putz has dramatically increased over the past decade according to andrea often, she says the animals exhibiting behavioral problems likely to to the owners's lifestyle. so fix it yourself, it is not time, it is discipline, take a look at the manufacturers and see how the stocks that doing. connell: we will do anything
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today. baseball commissioner, ben bernanke, mcdonald's. the mac everyone is in therapy going to see a psychiatrist and underdogs -- connell: anything to avoid government shutdown nonsense the we will talk about that next because the senate will vote in an horrible we did a good service in avoiding it for this long. the net there you go. connell: next dan henninger will talk about anything and has terrific analysis. dagen: just shows some video of harry reid and the smart phone the in the neck has the eyes of wall street investors, makers of candy crush wanting to go public and here are today's winners on the s&p.
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connell: we are literally at the half hour, so here's what's still coming up in this hour. obamacare, still a hurdle in the effort to keep the government running. we're going to talk about that. sweet treat for the bulls on wall street, the makers of candy crush want to go public x the movie houses trying to squeeze every last cent out of the parents and kids, a second cloudy with a chance of meatballs is out this weekend. dagen: he can tronic arts to -- electronic arts to cancel its popular video game next year. why, nicole? >> reporter: because electronic arguments was using some of the players that currently play in the ncaa for these video games and using their images without their consent. so here's the story. the stock is to the downside
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right now, down about, just over 1%. they've reached a settlement with these -- actually, former college players from rutgers, from west virginia, from arizona state. so now dealing with that part of it. and the ncaa in mid july also decided not to renew their contract overall to license its name for the electronic arts college football game. so that's the end for the ncaa football series from electronic arts because, a, they didn't have the ncaa okay it and, b, they have to deal with these faces they used without permission. connell: we've just about reached the deadline for a partial government shutdown. it's looming now. the senate expected to vote on a temporary spending bill about an hour from now. dagen: rich edson's lye on capitol hill with more. >> reporter: it should happen about an hour or so from now. there'll be a series of results, likely results by this afternoon. the senate passing a bill to fund the government until the
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middle of november. then it comes over here to the house side, and we really have no idea what's going to happen from here. the house could just put that bill on the floor, the one the senate's going to likely pass, but house speaker john boehner made it clear he's not going to do that. the question is what are republicans going to attach to this version of a government spending bill? meanwhile, there's still this fight over obamacare. >> we ought to go ahead and defund obamacare today in light of experience between 2010 and 2013 which shows it hasn't lived up to expectations and promises. >> temper tantrums were something you lived with, didn't really do much harm. but that's not true here in the congress. we cannot afford the temper tantrums of a few idealogues. >> reporter: people are trying to game out on capitol hill what exactly is going to happen monday night into tuesday, that's when a government shutdown would happen. the problem is they can't even game out what's going to happen
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when the senate likely passes its bill this afternoon. there really is no plan set forward when that bill comes over to the house side what they're going to do with it, and what they do with it will figure out whether we're going to have a government shutdown or not. we're all on standby for that one. connell: today, through the weekend -- rich edson on capitol hill. dagen: let's bring in the deputy editor of "the wall street journal"'s editorial page, dan henninger, much of what senator ted cruz did this week on the senate floor, much laughing about it, but yesterday we had a guest on this program, and when you ask 'em, well, americans this doesn't poll well, and there are a lot of emerging problems with it, the answer is the reason people don't like it is because they're listening to the lies, and you even heard this from the president, lies being perpetrated by the media -- namely, the fox news channel and the like. i just want to know your response to that thinking. >> yeah, well, that would be a heck of a lot of news media
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telling lies because newspapers from coast to coast have been reporting on problems with the exchanges, glitches in washington, d.c. and such. i think the administration is in a little bit of a panic now because of the fact that tuesday is coming, they need to sign people up. the problems are real. the online, for instance, "the wall street journal" just reported today that small businesses will not be able to go online and be able to search for plans. the program won't be ready. this is the thing you have to understand about obamacare, dagen, this is an insurance program. that means it needs a huge pool of people to join the insurance program for the economics to work. and i think what they're discovering as that day approaches is a lot of the target market -- poor people, young people, people in college -- believe it or not are not fully aware of this program, or they have doubts about it. they don't understand it. but they're not getting to the point where they're actually going to go up and sign for it.
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and if you don't get a large pool of people signed up by january 1st, the economics of obamacare just begin to explode. connell: the political intrigue that rich edson says he's standing by to cover throughout the weekend is almost all or definitely most republicans seem to agree with or sympathize what you're talking about, but they disagree on how to act upon it. the ted cruz, marco rubio camp you get really aggressive here and risk the shutdown, or in the other side, you know, john mccain or whoever else, mitch mcconnell would say, no, no, no, we don't have the votes, let's move forward, and if this thing's going to fail, let it fail. >> well, certainly, ted cruise's criticism -- cruz's criticism is all well and good, but defunding is not going to happen. the chances are zero. there are not enough votes in the congress to do that, and if they did it, the president would veto it, and they will not override that veto. this is not going to happen.
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so the question then becomes, what will be the basis for the republicans voting for that house bill perhaps sunday or monday? will they put something in it that they can say that they have achieved, or will they allow the cleaner version of the continuing resolution go through? i personally believe that they're not going to shut down the government. dagen: right. >> because it's just something they can't handle, the publicity on that. i think it's going to pitch forward, dagen, to the debt ceiling fight over the next two weeks. dagen: how long can -- because you've argued, like, let obamacare fail. well, medicare is a looming financial disaster for this country, and it's still there and untouched. medicaid, same thing to a lesser extent. social security has its own problems, and that doesn't even deal with people's health care. i'm saying that this thing won't go anywhere. they might tweak it as it goes, as obamacare goes along to try and right it somewhat, but i'm saying it's here to stay.
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>> this is an important -- well, i don't know. this is an important distinction. social security is paying checks. the other two programs have been around for a long time. dagen: right. >> obamacare is about health care plans for you and your family. this is not about writing checks, this is about being able to see a doctor, getting care for conditions when you're really sick. that's a lot different. and i think if this program begins to manifest the problems that we think it will, the american people are going to step back and say this may be be entitlement too far. we have to go in a different direction because the government simply -- i mean, most people would not voluntarily put themselves in medicaid. medicaid is the worst medicine in the united states. and if obamacare starts to become -- dagen: well, a lot of americans actually do that because they need to go into nursing homes, and they don't want to bankrupt their relatives, you know, they don't want to bankrupt the husband or wife, and their attorneys -- >> and we've all heard the horror stories about the kind of medicine that they have to resort to if they go into those
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programs. and i don't think young people are going to accept medicaid-type medical coverage from obamacare. so i'm convinced it's just going to -- dagen: and the whole thing falls apart. >> it's going to slowly collapse, and then i think the republicans are going to have to come up with alternatives to it. connell: we'll see how they handle it this weekend. dan henninger from the journal. dagen: the city of detroit continuing to struggle with its finances, now talking with the white house about what can be done. connell: and then we'll get to this candy crush story. makers of the popular game setting the stage for a public offering. dagen: and another serving of cloudy with a chance of meatballs. dennis kneale on your weekend box office offerings. take a look at treasuries today. ♪ ♪ you really love, what would you do?"
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>> i'm joling kent with your fox business brief. u.s. household spending rose in august as incomes increased at their fastest pace in six months. personal spending was up three-tenths of a percent over july which is right in line with the expectation. personal income rose by four-tenths of a percent also in line with estimates. there's a new investor of $500 million for a minority stake in
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the head toni maker. and it's not clear how much of a company carlisle would own, but the investment values beats lek strongics at $1 billion. the mid sized vehicle from ford car maker earned top ratings in safety features, cadillac and volvo won superior ratings, and that's the latest from the fox business network giving you the power to prosper. ♪ ♪ [ male announcer ] legalzoom has helped sta over 1 million businesses. if you have business idea, we have a personalized legal solution that's right for you. with easy step-by-step guidance, we're here to help you turn your dream into a reality. start your business today with legalzoom. we're here to help you turn your dream into a reality. nascar is about excitement. but tracking all the action and hearing everything from our marketing partners, the media and millions of fans on social media can be a challenge. that's why we partnered with
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hp to build the new nascar fan and media engagement center. hp's technology helps us turn millions of tweets, posts and stories into real-time business insights that help nascar win with our fans. connell: talk about detroit now as top members of the white house are expected to meet with the state and local officials out there, people from the administration discussing what can be done, basically, to save detroit. dagen: jeff flock is in chicago with the very latest on this story. jeff? >> reporter: i don't know about saving it. it'll try to put a little bit of a band-aid, i think, on a gaping wound, but that's the way it goes. take a look at who will be
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meeting with reporters within the hour. it is attorney general holder, the hud secretary donovan, the transportation secretary fox. they will be coming bearing federal gifts, but not a whole lot of gifts. if you think this is a bailout, well, you don't understand a bailout. this is just a little bit of money. take a look at what they're bringing money for, and this is not just money from the federal government. it's a public/private partnership, some nonprofits as well as foundations are also getting involved here. about $150 million to just tear down some of those nasty buildings that we show you every time we go there that the city cannot afford to tear down. police and fire, some of them have not gotten new equipment forever, $115 million committed to that. and then the transit system, there are buses that don't work. the city has taken to starting service again, some people in a private car and say, well, for money i'll take you somewhere you need to go because public
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transportation has broken down there. not a good situation at all in detroit. just real quick before i get away, i want to show you one quick thing because this whole trip comes amid an auditor's report that shows where the money went. take a look at unemployment claims in the city. they audited unemployment claims ending just earlier this year. they found about 1500 claims, only half of them could they determine were actually legitimate. you wonder where $18 billion in the red goes? well, people that never worked for the city filing unemployment claims, people that resigned or retired. by the way, if you resign or you retire, you don't get unemployment. just fyi. there you go. some of that stuff. [laughter] dagen: don't let that get in the way of somebody trying to get a check. [laughter] jeff, thank you. i just like to smile. just smile. so gary gensler wants more money for the commodity futures trading commission. the cftc chair warning that a
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lack of resources could severely damage his agency's ability to protect the public from future financial scandals. take a listen. >> i recognize that congress and the president have real challenges with regard to our federal budget. i believe, though, that the cftc is a good investment for the american public. it's also a good investment to insure that companies such as yourself have a transparent and well functioning market. i don't believe our current funding is sustainable. dagen: what does former delaware senator ted kaufman think? good to see you, as always. >> good to see you, dagen. dagen: do you buy that, that they just need more money? >> yeah, i think they do. i mean, look, dagen, the republicans and democrats when we were debating dodd-frank said that lack of regulation is one of our major problems. that cost the country $14 trillion. we've got 398 rules in dodd-frank, only 40% of them
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have been completed. and, look, giving money to these regulators is a good investment. look, they're talking about a settlement for $11 billion with jpmorgan chase, they've had a billion dollars worth of settlements. we need the regulators doing their job if, in fact, we're going to have a financial system that works for all of us. dagen: do you think that they are -- they're clearly tougher now, but do you think there's any value to -- let's talk about jpmorgan and the settlement that's under discussion just broadly speaking with the justice department. >> sure. dagen: what good's going to come out of that? do you feel like that jpmorgan's being singled out for problems that were rampant? >> no. no, i don't. i think they're just getting around now to getting, to doing it. there's been billions of dollars worth of settlements, and they've all been where the person has agreed to settlement so, clearly, there's something going on wrong. i think that one of the things most americans outside of new york and washington believe is that the only people that really didn't get hurt in the meltdown was wall street and that there
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were things went wrong. and what we're finding out with these different settlements and regulators is that it's really true. i mean, 11 billion -- look at the money that jpmorgan chase has -- fines they've paid for. if there was a federal department where, that had to pay, that lost $6 billion on the london whale, possibly $11 billion in this thing, the billions they paid for over the years, the head of that department would be gone. but here we are -- dagen: that loss, senator, wouldn't have put the company out of business. that was a loss to the shareholder. not the american taxpayer. >> yeah, that's right. and that's the other thing, the managers pay nothing. the shareholders lost it. i'm just saying if the shareholders had real power in these decisions, i think it would be different. again, dagen, i can't picture a department of the federal government that had as many things go wrong as have gone wrong at jpmorgan chase and the head of the department's just sitting there smiling and happy and the rest of it. so i think these are all cases
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that have been brought by regulators and by the justice department, by the fed and every one of them, jpmorgan chase said we're not going to go to trial, we're going to settle them. clearly, there's something there. dagen: senator, it's good to see you. senator ted kaufman, thanks so much. coming up next hour, peter barnes sits down, you'll see his full interview with the cftc chairman, gary gensler. connell: seems the maker of the candy crush saga game is follow anything the footsteps of twitter to go public. ipo u.k.-based company king which is the company behind candy crush, it used a provision of the jobs act to start up an ipo process confidentially. that's what they're doing. london telegraph also expected king's expected to list its shares on the nasdaq with a valuation exceeding $5 billion. a lot of people are obsessed with this game. dagen: do you play it? connell: no, i don't, but you hear it, people talking about
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it, tweeting, whatever. 600 million total active game sessions each day of this game from mobile devices. 600 million. dagen: i play dots. connell: do you? dagen: it's just a simpler interface. it's not -- same process as candy crush. connell: also addictive and the whole thing? dagen: yes. you know what? if you get stuck on a subway somewhere and you don't have any phone access -- connell: you might get stuck talking to somebody. dagen: god forbid. so the sequel to sony's cloudy with a chance of meatballs could have a chance of big success at the box office this weekend. that's coming up with dennis kneale. connell: let's take a look back at the markets on "markets now" and some winners that we're seeing on the nasdaq today in an otherwise down market. microsoft, we talked about alan mulally earlier and those reports. microsoft's up today. ♪ ♪
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connell: little movie talk. it's a mixed bag at the box office this weekend, so we're going to put it all together. you've got raining meatballs, airports, romantic companies, and that romantic company stars an unusual leading man. dagen: it's joseph gordon-levitt, i'm guessing, the sony movie can bring back summer box office love. dennis kneale has the outlook. >> cloudy with a chance of profits, the sequel expected to take number one at the box office this weekend. variety says hollywood's looking for $40 million, maybe more. that'll be better than the original opened, you know, a year or two ago for sony, and
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that's a after, you know, kind of a tough time at the summer box office. they had two big much-hyped film les, together they cost $180 million, they took in only $130 million in the u.s. combined, so they clearly ran a loss because the studio gets only half of that. so be news for sony for a change. dagen: which flick has the unlikely leading man? is it don jon? >> i guess it's joseph gordon-levitt who suddenly is now the hot hunk, apparently, in -- dagen: he was in 500 days of summer, he was in the dream nick, remember that? >> yes. and, jeez, he's dying of cancer, let's learn to laugh. dagen: he directed this movie, it's about a porno-addicted dudes -- >> there's a difference between porno-districted and sex-addicted. [laughter] dagen: oh, there is? >> one guy's watching. connell: we can get into it.
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dagen: the formula one movie, "rush," it goes -- >> yes, the ron howard-directed film. dagen: which warner wolf said earlier this week, dagen, you would really love this movie. >> you do love car racing. dagen: that's my point. connell: that's a great warner wolf impression -- [laughter] dagen: i stopped myself from imitating. connell: thank goodness. oh, my god. you know any of these movies? >> i'm going to an art show this weekend if my 13-year-old daughter will dane to come along with me. meatballs is too young for the 13-year-olds. it's mainly little kids. dagen: you redeemed yourself by throwing your young daughter into that, because if you were going to an art show by yourself in dumb bow, well, you need to have a skinny tie. connell: this is a neighborhood in brooklyn, not an elephant. >> yes, exactly. [inaudible conversations] dagen: there you go.
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connell: all right. dagen: dennis and cheryl are coming down. ford's out mull hall lay, could he be in the driver's seat at microsoft? connell: dagen loves that story. men, go ahead and have that second cup of coffee. the ceo of dunkin brands will be here to help kick off sunday's national coffee day. dagen: sunday? that's dumb! connell: i'm thinking monday. stay with us, "markets now" continues in a moment. spark cad from capital one... boris earns unlimited rewards for his small business. can i get the smith contract, ease? thank you. that's three new paper shredders. [ boris ] put 'em on my spark card. [ garth ] boris' small business earns 2% cash back on every pchase every day. great businesses deserve unlimited rewards. read back the chicken's testimony, please. "buk, buk, bukka!" [ male announcer ] get the spark business card from capital one and earn unlimited rewards. choose 2% cash back or double miles on every purchase every day. told you i'd get half. what's in your walle
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as companies. there we begin our trophy round. dennis: from all-star showdown to the shut down showdown. the senate to begin voting is power. i refuse to feel fear. cheryl: i love that about you. the ceo of duncan's will be here. that and a lot more in the next hour of markets out. dennis: nicole petallides at the floor of the new york stock exchange. nicole: they are very concerned about what may ensue in
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washington. it follows five straight days of selling. with that being said, there are a few names that have games on the dow. we continue to follow a lot of the story stock, such as nike. we have been watching the blackberry story. we watch some of the other names including electronic arts and lumber liquidators. there are a lot of story stocks that we are following closely. the big picture is the markets are being rained on by what we are seeing in washington. cheryl: thank you very much. we will talk to our panel about that topic.
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let's bring in our fox business all-star showdown final list. we will do the showdown later. first, to this one. how important does the ceo factor into your decision? >> the ceo is the ceo. that is critical. the major strategic decisions made by that individual and the board of direct tours. microsoft has been lagging. there is no question that having a strong leadership, a strong
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corporate culture is critical in making decisions. cheryl: it is a turnaround story. one of the star ceos out there. he turned around ford. do you think that he would be a good fit for microsoft? >> microsoft has kind of gotten fat and happy over there. i think one of the problems is employee more ralph. you need a strong ceo. i think it will translate great into microsoft. like all of her set, i think it is a very key component for any stock. the market will definitely give us premium allocation.
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i think him giving him there will give microsoft a boost. cheryl: are bullish, obviously, but you are saying the debt ceiling debate, a obvious shut down. >> going into earnings, investors have been fairly mixed and underestimating the power of corporate america. if you have money on the sidelines right now, i would probably hold off. i would not go all day and into any investments.
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this, too, will pass. there are headwinds. cheryl: they may give you positive markets even though you are overall polish, robert. the debt ceiling. how much does that factor into whether or not you will be buying stocks in the next week or so? >> we have a little more cash in our portfolios that we normally do right now, cheryl. when we look at the s&p 500 as a whole, we do not see that as a screaming bargain right now.
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if you are soon on some cash, i think that is a good place to be right now. cheryl: thank you for this nice friendly discussion. they will be back later in the hour. they will battle it out. they are our last two contestants. they have each picked two new pics. they will go head to head in fight for the title and, of course, the coveted trophy. dennis: i argue that the feds ought to find the wrongdoing individuals instead of their banks after a major screwup. paul says yes. for you and me, a fine wood
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stain. at least for me. george said the entire basis of doj involvement is hard to fathom. four, let's bring in the director of financial regulation studies. thank you for being with us, mark. >> the actual wrongdoing gets community for rolling over on his friends. to me, i think that's the absolute wrong signals. to me, you are not really did during robin if the executive's or the traders know they can cut a deal and walk away.
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>> i am very sympathetic for the argument. whether it is jail time or actual cash. we have seen nothing like that in terms of the public sector are. no institution probably did worse in the new york federal reserve. tim geithner got a promotion out of it. i think private sector actors need to be held responsible. dennis: jpmorgan loses
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$6 billion. government comes along and slaps a huge fine of almost a billion dollars on top of that. is jpmorgan making a mistake instead of challenging it in court? >> we are, unfortunately, in a horrible situation. we do not have arms length regulation. quite frankly, i think jpmorgan should fight this thing out. part of my concern is the public does not actually get the fax. and i will never know who is right because it never gets its day in court.
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dennis: thank you for being with us today. have a good weekend. the weekend box office forecast. my media minute coming up. cheryl: how about sipping on a cup of coffee. it is national coffee day. let's take a look at the energy markets. we will be right back. ♪ nascar is about excitement. but tracking all the action and hearing everything
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from our marketing partners, the media and millions of fans on social media can be a challenge. that's why we partnered with hp to build the new nascar fan and media engagement center. hp's technology helps us turn millions of tweets, posts and stories into real-time business insights that help nascar win with our fans.
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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 nearly 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. cheryl: are down 86 points right now. take a look at a few names. i will give you some green names. look at nike. 73.81 that is a 22 positive point impact for the dial.
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nike, they had a record sales forecast. nice to see. let's bring in the nicole petallides. nicole: if you prefer healthier choices, but still enjoy this next story, mr. thompson taking health and nutrition quite seriously. they will go ahead and take some information intake key choices for mcdonald's. they will push the healthier choices for the drinks such as milk and juice and water rather than soft drinks.
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however, they will be used into the market that represents 85% of mcdonald's. it will be done by the year 2020. do not look for it this weekend. cheryl: we will be patient. ♪ dennis: time to make a little scratch with charles payne. he wants to talk about the good old days. charles: i want to talk about the phony war between income and equality. the baseball contract could really smother it to smithereens. we know athletes and act theirs get a free pass when it comes to greed.
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dennis: not paying his fair share. i think at some point, though, they will a hard time justifying this, even with the athletes. everybody out there wants to crawl into the low / middle class. the last time that existed was maybe in the 1950s. the story of a black family in the ghetto struggling hard to climb into that class. two dollars a ticket. seventeen dollars now. how about the tv contract.
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$21.8 million. i lost track. you can make money and so many different ways in this country. i do not think the president is in touch. you tell me my goal should be to find a way to climb into the middle class and live week to week push the mark i will not listen to you, mr. president, i will not. cheryl: the talk of washington. peter barnes is up next. dennis: it is already one of the hottest toys for christmas. we will be talking with the ceo of elite had straight ahead. ♪ ♪
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year. under the law, he has been able to stay on the job and stay through the end of this year. there has been a lot of speculation. leadership by someone is critical. it faces a lot of deadlines. he declined to comment on his plans saying he is just focused on helping his daughter with her calculus homework. that tuesday, new rules kick in for one of the villains. these are basically used in hedging prices on everything from fuel to interest rates.
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they do affect what you pay for gasoline at the pump or the interest rate on your mortgage. financial swaps helped to bring down insurance giant aig. starting next tuesday, many firms will have to start trading swaps on new exchanges. >> next tuesday we are finally fulfilling that mandate of congress. we will work with market participants. we will consider sometimes limited release on particular matters such as reporting. next tuesday is the day. let there be no doubt. peter: he would say "i would just say, stay tuned."
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cheryl: thank you very much. dennis: leapfrogs leap pad ultra tablet already one of the hottest toys for christmas. we have the ceo with us. i am starting to see all of these pessimistic reports come in. it seems to have been every year early. >> i think one of the big things that is different this year is there are fewer shopping days this year. dennis: six fewer days. so i will just not buy a present for my wife does your? >> it makes the experience a little more fanatic.
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i suggest people get ahead of the game and get the product for their children early. p5 if we look at a group christmas ahead, people in the toymaking business are more slump proof . you always buy something for your kid. how much of a halo affect do you have? leapfrog is not just for fun. it is educational. >> we make entertainment that is
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educational. everybody knows that kids learn best when they are having fun. that is what makes leapfrog very special. the five what is the sweet spot for your age appeal? >> two-three up to eight-nine. it has been proven that the best investment in educating children is when they are young children. that is when it has the greatest impact. dennis: any plans to make an app for the ipad? >> we do.
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we have the only app store out there with 800 pieces of content. every piece of content has been designed or select did by and education experts. dennis: we could listen to that all day. thank you very much for being with us. cheryl: it is almost as big as national donut. sunday is national coffee day. dennis: the upper chamber about to be voting. cheryl: the final round of our all-star showdown. it is coming up the next hour of "markets now."
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[ crows ] now where's the snooze button? floor of the stock exchange >> caller: minutes got you covered. look at stocks to watch, market's doing overall, the dow industrials to the downside. 16% right now, deutsche bank raising solar and green today, talking about what they have been seeing with china in particular and the incentive for her mid 2013 and this group is doing so well in some cases of 200%. we are taking a look at lumber liquidated where federal authorities are working with the authorities that they are there at the headquarters and other offices working closely, j.c. penney doing an offering and
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raising over $800, and ending the n.c.a.a. football after n.c.a.a.. this is an improvement after they got definition to use their faces of the famous football players. back to you. dennis: breaking news, live pictures of the u.s. senate as it gets ready to vote on a plan to stop the government from shutting down. rich edson live on capitol hill. rich: this is going to take four votes because that is how things are done in the u.s. senate, nothing easy, nothing quick. when the senate finishes it will likely vote to extend government spending authority until the middle of november, now to the house of representatives, john boehner is going to change it. question is how are they going to change it and is there enough time for the house to change it? send it back to the senate and make sure we avoid a government shutdown between monday and tuesday.
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the problems are still despite obamacare. >> we can all acknowledge that a minimum we need to figure out a way to delay this and change direction and go in a better direction. >> the bill from the house, they know it won't ass. this is a bill to know where and nowhere is where the tea party republicans want the government to go. >> the house could take the bill and pass it and fund the government until nov. fifteenth. don't have to worry about it until the end of the house speaker says he won't do that. how will the house change it as we go further along here? we are running out of time procedurally for the house to pass something different, send it back to the u.s. senate and have them find out after the president, make sure we don't have a government shutdown. we are waiting to see how the house is going to change it. this isn't a very easy call. a number of members still want some type of funding of obamacare but are not going to
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pass this bill but if they do and send it to the senate the senate won't pass it. so here we are. back to you. dennis: putting the drama into government housekeeping. thanks very much, rich edson. cheryl: we are in training national coffee day will be this sunday. joining us to a share in the celebration, chairman and ceo nigel travis taking on the role of chairman. great to see you. we are going to talk about coffee day but also what our reporter was covering out of washington. what happened once again the fiscal showdown and potential government showdown. last year when you were used that you were frustrated they were not coming to ceos like you to get your input on fiscal policy in the shutdown talk. how are you feeling this year? has anything changed? >> no. actually been contacted for my views this year's so that was a big change. it happens more often than
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national coffee day so we can't carry on like this. i read this morning every time there is a shutdown it takes away 1 or $2 billion. in the scheme of things doesn't seem like a lot but it is distracting and takes away from gdp and everyone talks about it rather than moving forward, in clement and important things so we are all frustrated was happening. i don't think it will make a difference to our business because our business is all about value but i think it takes people's minds off and people are bored with everything that is happening in washington. cheryl: one thing we look at, the idea for duncan is the health care law and implementation and exchanges next tuesday. they began earlier this year, you said you wanted, you disagree with part of the way obamacare's rules were in place and tools on employees should be labeled 40 hours, not 30 hours. franchisees' telling you that is
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a big concern? the 10 hour difference? >> they are. sometimes they got misunderstood. we won't want consistency of regulations. every other federal regulation or state regulation is that 40 hours. that is the definition of a full time employee. we want to get it consistent and some of the unions have talked about this. they keep changing their position but the belief that there should be consistency and in our discussions with the administration they understand the rationale, they are concerned about change because as soon as they try to change it they feel as we have seen with the debt issues, that there will be a big push to repeal legislation. cheryl: you've got 10,500 stores right now. that change the little bit but how many of those have over 50 employees and would be affected by the health-care law implementation? >> average franchise, dunkin donuts in the u.s. put eight
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stores so if you say average store has 20 employees a lot of franchisees' will be impacted. the 30 to 40 hours are different from 50 hours. we are concerned about 30 to 40 hours a week and 50 employees is about the size of the company, the entity that manages the employees. we are focused on getting 30 hours up to 40. cheryl: you are taking this to washington. this is important to you. >> i will be there two days in washington, good timing given what is going on and working with my colleagues, we achieved something earlier this year. we delayed the employer mandate. cheryl: something you were involved in. >> very much. our company and a couple of other companies were instrumental in making that happen. cheryl: jobs in this country, thirteen million in the restaurant industry, obviously it is national, the day. coffee is a bigger phil of
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revenue drivers, stronger revenue drivers than doughnuts and. what do you think it is? coffee has less calories than doughnuts? mayor bloomberg tells me not to eat fatty foods anymore. >> it is down to several things. one is several players pushing coffee. cheryl: mcdonald's, starbucks. >> we have great competitors. secondly american stock, 63% of americans drink coffee at least every day and the hispanic population is 13% higher than that. 85% of americans drink coffee some time in the week. that is a huge number. the retail business is growing at a rate of 5% so surely this is a copy country and this is national coffee day. cheryl: i will call you up tea drinker. you have all little bit of coffee in the morning. >> i told you before i drink tea
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and coffee and it is very good. cheryl: next time i am in duncan donuts. it is good to see you as always. dennis: busted paula that guy. cloudy with a chance of profits. coming up the weekend box office forecast. cheryl: we are minutes away from kicking off the final round of our stock picking competition. oliver force will be back. championship showdown. stay with us. ♪ [ bell ringing, applause ] five tech stocks with more than a 10%... change in after-market trading. ♪ all the tech stocks with a market cap... of at least 50 billion... are up on the day. 12 low-volume stocks... breaking into 52-week highs. six upcoming earnings plays... that recently gapped up. [ male announcer ] now the world is your trading floor.
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is a thing of the past. block the acid with prilosec otc, and don't get heartburn in the first place. [ male announcer ] one pill each morning 24 hours. zero heartburn. ashley: ashley webster with your fox business brief. consumer sentiment slipping, 77.5 from the people pulling one in august, september at the lowest final reading since april. latest index found consumers concerned about high interest rates and sluggish economic growth but household spending actually rose in august as incomes increased with six months, personal spending up 0.3% over july, personal income rising by 0.4%, right in line with expectations. beef electronics avenue investor, investing $500 million for a lot minority stake in the head phone maker.
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not clear how much of the company carlyle would own but the investment values beat $1 billion. that is latest from the fox business network giving you the power to prosper. nascar is about excitement. but tracking all the action and hearing everything from our marketing partners, the media and millions of fans on social media can be a challenge. that's why we partnered with hp to build the new nascar fan and media engagement center. hp's technology helps us turn millions of tweets, posts and stories into real-time business insights that help nascar win with our fans. so ally bank really has no hidden fno hidden fees.accounts? it's just that i'm worried about you know "hidden things." ok, why's that? well uhhh... hey daddy, what's your job? daddy's a uhh florist. are you really a florist? dad, why are there shovels in the trunk?
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there's no shovels in my trunk. i see shovels... you don't see no shovels. just am. well, it's true. at ally there are no hidden fees. not one. that's nice. no hidden fees, no worries. ally bank. your money needs an ally. cheryl: championship round of fox business all-star showdown. we are getting closer to the winner of the ultimate stock-picking competition, down to the last two competitors, they have come today, the two and new stock to battle it out. we will track them for a month. when is not only get a title but check this out, this is beautiful, gold-plated. don't know what it is made of but it will be awesome. is going on with one of these
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two men, oliver porche and gary goldberg and robert will not. by sheer coincidence we're making this the battle of the pharma stocks, you both kicked one of peace. i will start with oliver. you're first pick is pharmaceuticals up 20% over the last month. >> you once highflying stocks that are on the move, it is on the move like there's no tomorrow. i think your luck is running out. is a great company with a great pipeline and it is one of our favorite names. investors need to know that. it has a lot of room to grow and i feel good about this pig in terms of showdown. cheryl: final pick from robert, jazz pharmaceuticals over the last month it is up 2.5%. why do you like this one? >> the music is about to stop for you.
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jazz pharmaceuticals on fire. we like his company a lot. if you look at the valuation that make a lot of sense trading 11 times next year's turning the and two blockbuster drugs gaining momentum and what i like about this company is it is based in dublin, ireland, 12.5% corporate tax rate. a lot of pharma deals going on so see if this gets bought out in the next few days. cheryl: that could change the whole game. that is interesting. your next one is newskin, beauty products. i am buying into this. >> they are growing rapidly in asia driving a lot of revenue from that part of the world and there's a lot of growth left, stock doing extremely well, it is down a little bit today and i see 10% over the next 20 days and again if your luck is going to run out, no et efiks either. i was watching you. cheryl: you got in a lot of trouble on that picket. >> yes i did. i took some heat for that's all
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i came on strong resist time. cheryl: your last stock tech, you will know this one, you like linkedin. >> you got to like oliver said look where the strength is in the market. relative strength in the biotechs rendell. and we talk about alan mulally, a great working guy, leading to all-time highs and the stock will do very well. cheryl: i thought you were going to the was going to take over microsoft in your pick for ceo. >> i will connect with him on linkedin. cheryl: one interesting thing it
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is up 112% over the last year. i got to get your take. >> we like linkedin. straight to our investor audience, picking stocks that are on the move and aggressive because we want to win. robert wants to win, on want to win and investors should take that and understand to be a part of a large portfolio and not see your picks because you can get in trouble with any of these stocks. cheryl: it is up 162%, you are both picking two pharma and momentum plays so oliver, once again, you picked newskin, going and -- against jazz on and linkedin and track them for a month and both of you will be back to announce how they did and crown winner and give them this beautiful wonderful trophy. you are going to be here in a month in our studios with oliver, correct? >> i will be there so keep him away from the trophy and
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want fingerprints on it. >> i got my name etched in. cheryl: thank you very much. dennis: a bull/bear battle shaping up, sell-off in metals and energy futures over the last month casting doubt on the commodities area but many are still saying there is like in that sector and sandra smith has the latest in the trade from the pits of the cme. sandra: starting to get worried. in the month of september we have seen some big declines across the board and commodity prices. gasoline down 11%, you have been seeing those prices come down, corn prices came down 8%, good for food prices, orange juice down 8%, gold, platinum, soybeans, natural gas, all these commodities posting losses for the month of september and it has started to call into question the commodity supercycle we have been in for
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the past decade or so. that will be a rise in commodity prices across the board with a sustained period of time. mackenzie and co. analysts coming against goldman sachs and citigroup saying this is here to stay, alive and well calling for higher commodities, certainly getting a significant drop across the board in commodities but the reason they are saying it is going to continue is emerging market demand and what makes it interesting is the reason goldman sachs and citigroup have the supercycle over is because china has wrapped up their production so much to meet their rising demand. release some interesting opinions coming from pretty big players in the commodities market but none the less today down for oil, down for a bunch of the commodities all one of those things. dennis: thanks very much, sandra smith. your friday media minute, summer of struggle at the box office sony could win big this weekend with a sequel to cloudy with a chance of meatballs, could take
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top spot, $40 million, better opening than the original. reviews are raves, the film was cheap costing $78 million to make. two other sony summer films, after earth cost $280 million combined to make and the $130 million in the u.s.. in the old days celebrity feuds were fodder for tabloids but today they play on twitter. the ego rich rapper kanye west on a twitter tirade against late-night host jimmy kimmel calling him you minneapolis media mother something and he isn't funny and never gets lucky. all of which kimmel put to great use on his abc show last night saying, quote, finally i am in a refuge and described a whole situation is going nuclear. entertainment. cheryl: britney spears, ticket sales. the answer coming up on the west coast minute. and compare costs.
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cheryl: google's birthday, publicly traded became a created in california 15 years ago put up and interactive doodle, the basic video game releasing virtual suites, when you look at the side, right now google is at its $74 and change. ye may be in danger of losing hundreds of jobs in the solar sector if read the tax credits and other issues and not resolve. the solar sector had been one of the fastest-growing industries there been recent slowdown is blamed on changes in building permit fees. the question is about sitting solar tax credit. britney spears's las vegas residency tour is not selling as
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well as hoped. is being called a box office bomb. radar on line quotes sources in her camp, ticket sales were a disaster. she thought concerts' would sellout immediately and looking at a gross pay out of $40 million for her since city since. that is your west coast minute. washington and your money, uncertainty surrounding a government shutdown weighing heavily on stocks today. dennis: we will get the financial advice you need call stock and what had -- financial adviser is going at a man's crazy for how to position yourself ahead of the may be shutdown and whether there are still deals to be had. ♪
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tracy: so much for liking gridlock. stocks down big as washington stumbles toward the government shutdown. all-star panel financial advisers are here. and what they are telling their clients with all this uncertainty and how you should position yourself right now. adam: federal housing administration says it needs the $1.7 billion bailout from the u.s. treasury, first in seventy-nine year history. tracy: bankrupt detroit sticking out its hands to washington. your tax dollars funding a new $440 million aid package. that won't come close to wiping out the motor city's $18 billion in debt which is crazy. and nicole petallides, what is going on? we are down 57 points. >> seeing pressure on the markets, the dow index in the opposition here to show a down
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