♪ imus in the morning >> netflix does a google, the stock zooms. american technology rolls on. good morning, everyone, you're going to see another of those rare occasions when a big-name stock just defies gravity. netflix will be up maybe 10% moments from now. another bad obamacare headline, millions kicked off their private plans. and then there's the jobs report, no drama, same old-same old, a weak economy created too few jobs. you can bet janet will look at this and keep printing. this market just wants to go up and you'll see that this morning, moments from now. "varney & company" is about to begin. 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 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. [ male announcer ] at edward jones, they're the days to take care of business.. when possibilities become reality. with centurylink as your trusted partner, our visionary cloud infrastructure and global broadband network free you to focus on what matters. with custom communications solutions and responsive, dedicated support, we constantly evolve to meet your needs. every day of the week. centurylink® your link to what's next.

>> if you like your doctor or health care provider, you can keep them. if you like your health care plan, you can keep that, too. stuart: well, shall we deal with today's reality. millions of people cannot keep the plan they like. insurers are dropping people from their health care plans, insurance companies are sending out literally millions of notices to consumers, dropping individual policy holders because their plans are noncompliant with obamacare's new mandates. these are numbers and we've got them from the keiser health news operation. 80% of individual policies in that state, keiser permanente sending warnings that their plans may be candidate. independent blue cross in philadelphia, dropping 45% of policy holders. this is a new development.

the entire private insurance market used by millions of individuals and small businesses is threatened with a cha chaos that engulfed the obamacare exchanges. time is money, a lot more for you, here are the headlines today. three more all about technology. netflix, king of content some would say, definitely king of streaming. the stock market surging, the stocky should say is surging pre-market. they've got 40 million global subscribers, and 30 million in the u.s. more than h.b.o. however, the ceo reed hastings says he's worried how high the stock is trading. that's a cause for concern. apple unveiled the new ipads, thinner, lighter, faster and the reports say the company could end up losing market share. we go to california for a live report on that. microsoft's surface tablet goes on sale. can we expect long lines like when apple launches a new product? very, very doubtful. all of that today, but first,

check this out, please. a 14-year-old girl, oklahoma she comes from. she finds a 3.8 carat diamond during the visit to the state park in arkansas. a tear drop in shape and the shape of an m & m. she named it god's jewel and keep it for a ring later or sell it to pay for college. well done, young lady.

thank you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. once wrote something on a sheet of paper and placed it in his factory for all to see. ♪ four simple words where the meaning has never been lost.

the challenge always accepted. and the calling forever answered. ♪ introducing the all-new 2014 s-class. mercedes-benz. the best or nothing. introducing the all-new 2014 s-class. help the gulf when we made recover and learn the gulf, bp from what happened so we could be a better, safer energy company. i can tell you - safety is at the heart of everything we do. we've added cutting-edge technology, like a new deepwater well cap and a state-of-the-art monitoring center, whe experts watch over all drilling activity twenty-four-seven. and we're sharing what we've learned, so we can all produce energy more safely. our commitment has never been stronger. ido more with less with buss energy.hp is help. soon, the world's most intelligent servers,

designed by hp, will give ups over twice the performance, using forty percent less energy. multiply that across over a thousand locations, and they'll provide the same benefit to the environment as over 60,000 trees. that's a trend we can all get behind. it's not the "juggle a bunch of rotating categories" card. this is the quicksilver cash back card from capital one. unlimited 1.5% cash back on every purchase, everywhere, every damn day. now, tell me, what's in your wallet?

♪ this is the dawning of the age of aquarius♪ >> and is ms. sebelius the age of aquarius? i don't know, we'll hear from kathleen sebelius sometime next week and yes, she will testify on the failed obamacare launch. the big question is is she going to be forced to step down? we'll find out. we're a minute from the bell. scott shellady, not an impressive report. i've got to say that janet yellen is going to look at this number and say i'm going to keep on printing and that's why stocks are going to be up, right? >> i think you're right. if you look at topline revenue, stuart, they are he a beginning to decline. we've had three years of jobs 150-200, now 175 and now they're continuing to next month is going to decline as well. so, with no growth, not even a hint, the fed will continue to

print. stuart: yeah. with how many years have we be saying this, scott? i mean, i know it's probably years, isn't it? >> it's been years and it's going to continue into the second quarter of next year. we're going to need to see two or three years, or two or three months in a row of good figures for them to think about it. stuart: dream on, scott shellady. the opening bell has rung, trading has begun and i'm seeing an awful lot of green and the dow has opened higher. we're 11 points up at the moment and i expect it to go up, 30, 40 points by the time we're all opened and up and running. that's what i'm looking for, we'll see if it happens. it's not the profit at netflix, it's the new subscribers, over a million signups, netflix surpassed h.b.o. and showdown. a grand total of 40 million worldwide. nicole, tell me where the stock opened and tell me, am i right, it's the original programming that's bringing in these new

subscribers, what do you think? >> absolutely, absolutely, first of all, they got emmies, right? they received emmy awards and they have original programming. everybody talked about house of cards. now "orange is the new black" is building momentum as well. they're working on their streaming subscribers availability and now they're working with cable providers, such as rcn and suddenly, in order to now also provide in that form. so, they continue to grow, not only here at home, but also abroad. it's amazing. stuart: give me the big picture here. in my opinion, streaming is where it's at. >> you know, you and reed hastings should have a cup of coffee. he basically wanted to get rid of everything as we've ever known it and talked about streaming being basically the number one way that people were going to start watching shows as such. and now surpassing h.b.o. >> when he said that, they slammed him. the stock got slammed, remember that? >> yeah, a little tough, but

that's true. >> yes, it's true. i've got three more big names that you know. strong profits, first of all, at travelers. the company is buying back 5 billion worth of its own stock market like this, but it's only up 1%, not such a huge gain as some were expecting. solar panel parts and get this, bullet-proof vests gave a boost to dupont's bottom line. it's a dow stock, it's up. but less money coming in at coach. sales slipped in north america, maybe michael kors is grabbing coach customers, i don't know, but coach is down 7%, that's quite a drop there. and then we've got the jobs report. i'm going to call it lackluster, came out this morning. only 148,000 new jobs created, that's a very low number. and the participation right went unchanged. it's still just at a low for-- since 1978, i believe, 63.2%. i'm going to bring in richard fowler and paul conway to give us some commentary on what's going on here.

start with you, richard. this is not good enough, richard. and you cannot blame ted cruz or the shutdown, you're a democrat. explain yourself. >> listen, i won't blame ted cruz, these aren't as good as they should be. good news, we're adding jobs and we're on almost 40th consecutive month of job growth and there's one part of the support that i want to point out. it's good for folks at home to know. we haven't seen a decrease in the amount of hours worked, which means there's a lot of arguing that obamacare caused people to cut back on hours. this jobs report says it's not true. the second most seen numbers at the same rate when it comes to hourly work-- average hourly worked per employee. stuart: richard, you're sounding awfulfully defensive. let's turn in the report. what do you make of it? >> progress and compassion isn't measured by an unemployment or a low participation rate of 63.2%. it's a bad report. let's be honest about it and has continued throughout the

year. there's no growth that's projected really. you're seeing variations in the number and we'll take a look at november or december, but this is a tough thing, especially in the manner that it's hit young americans once again. stuart: yeah, richard, you know, when is the president going to own up to a poor performance on the job front? because you know, so far, he has not. he's blamed the republicans and saying that the republicans are blocking extra infrastructure spending. he's always blaming the republicans. when is he going to turn around and say, you know, this is not what i thought was going to happen? >> well, i think this president has owned up and indicated, hey, listen, the jobs not as good as we wanted to be. i wanted it better. i put bills in front of the united states congress to make it better and bills in front of the congress that mark zandi said added 1.9 million jobs and we haven't seen any movement from the house of representative. at the end of the day-- >> see, you're blaming somebody else, always blaming.

do you think that-- richard, i've only got a limited time here. do you think there's anything wrong with president obama's economic policy? anything the all? go. >> i think that the president put forward an economic plan that will work for the american people, but sadly we live in an economy of checks and balances and this congress has done nothing, stuart. stuart: wrap it up, please, last word to you. >> sure, the bottom line, this is not a republican or a democrat issue, it's fundamentally an american issue. look at numbers for 18-29 in the august data. you had 11.6% unemployment for young americans, 1.8 million who had fallen out of the work force that overall unemployment number of 16%. and here we are now on jobs tuesday, a historic first time of doing it on tuesday, and the president's trying to sell his health care reform to young americans, they can't log on. historic high unemployment, the economy's lagging and the jobs aren't create theed. and yet, we've taken the economy and kathleen sebelius says let us go forward with you

and they're not leading. stuart: we appreciate you being with us on jobs tuesday. we've got it. thanks very much. the dow industrial average after 6 minutes' of business is up, 15,438. i think that's within 200 points of an all-time record high. this is on a day when we've got a lackluster jobs repo remember, janet yellen is likely to keep on printing money because of a lackluster jobs report. so, up goes the market. and let's move on to obamacare. the government tested the obamacare exchange website just days before the launch. trying to see if it could handle the traffic, it failed the test, but they launched anyway. and then when just 2000 people tried to sign up on the night that it went live, it crashed. now, the feds are tapping verizon to help them fix the problem. liz macdonald is with us. she talked to xerox's chief engineers with 44 years of experience and he says you cannot fix the problem quickly. first of all, establishing the

credentials of your source. does he know what he's talking about? >> he knows, he ran software development for a major corporation, for projects for major corporations and set the standards tore processing developments and he has about 24 patents on software, mostly on software. stuart: he knows what he's talking about? >> he knows what he's talking about. stuart: is he saying you can't fix these problems short-term, you can't fix these problems by the time they're supposed to be fixed the early part of next year, flat out? >> he's saying they are not glitches, they're fundamental problems that you don't discover suddenly by putting up something live. you have to test drive it for months first, which he's saying clearly the administration did not do. it's called beta testing. letting your viewers, consumers like you or more go on and try this out. try the system out and it's clear to him that they did not do that.

and beta testing and customer test driving the system, you would find the fundamental problems and then fix it and also train the people responsible for the software to answer and fix those problems as well. clearly, not done here. stuart: and you can't fix it by the early part of next year? flat-out, you can't do it? >> yeah, and he's saying, and he doesn't the names of the contractors working on it. nearly $400 million in government money spent on the contractors who developed this very flawed system. fundamental problems, not glitches. stuart: thank you. liz, good stuff. thanks very much indeed. >> sure. stuart: now we've got a new study out that shows that the internet now takes the number one shopping destination spot this year over discount department stores. first time ever. nearly 40 million-- nearly half the shoppers say they expect to shop on-line this year, 47%. sandra, 47% say, yeah, they're going to shop the holiday period on-line. you know? i'm not blown away by that number, it sounds low to me,

does it to you? >> but it's the highest it's ever been since deloit started taking that survey and the first time that that number has been more than folks actually going into the store. so, the trend is definitely, more people are shopping at home and a couple of numbers got my attention and one is that they're spending more. they are he going to spend 9% more than last year and shopping earlier than ever. 30% of those that responded to this survey say they're going to have all of their shopping done by early november. and they're doing it on-line. so, take something away from that, stuart. i'll say i'm one of them and i'm probably going to do more than i ever have on-line. why hop in a car, you've got free shipping, free returns, makes sense. stuart: even i, moi. charles: i charles:-- i'm going to shop on-line this holiday season. >> i like the chase, the store. stuart: would i be considered

sexist if i say that women shop and men go to buy. am i out of bounds? >> what does it mean, women shop, men buy. stuart: sandra help me out. >> most studies show men are the procrastinators, the suckers who stop in on christmas eve and get the gift under the tree. stuart: this discussion doesn't end. [laughter] okay. we may return to it. probably will. check the price of oil, this is important, folks. look at this, $99 a barrel and it was actually at 98 earlier. watch out gas prices. i think they're going to come down. i paid-- no, i saw $3.03 for regular this morning. >> where? >> in new jersey. >> did you waste a lot of gallons of gas to get to it, that 3.03? >> moving swiftly along.

the dow jones industrial average is up 24 points, 15-4 is where we're at. i think that's almost exactly 200 points below the all time high. the tablet battle heating up. we'll find out what apple has up its sleeve. the question, are the new ipads really something new? is it really a radical new product or just the old one dressed up in a different color. clayton morris is there and he'll join us next. ♪ (announcer) at scottrade, our clients trade and invest

exactly how they want. with scottrade's online banking, i get one view of my bank and brokerage accounts with one login... to easily move my money when i need to. plus, when i call my local scottrade office, i can talk to someone who knows how i trade. because i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade-proud to be ranked "best overall client experience."

@?? trust your instincts to make the call. to treat my low testosterone, 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. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especially those who are or who may become pregnant and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these symptoms to your doctor. tell your doctor about all medical conditions and medications. serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet or body swelling; enlarged or painful breasts; problems breathing while sleeping; and blood clots in the legs. common side effects include skin redness or irritation where applied, increased d blood cell count, headache, diarrhea, vomiting, and increase in psa.

ask your doctor about the only underarm low t treatment, axiron. bounce keeps my clothes fresh for weeks, even when they've been sitting in the drawer a long time. like those jeans you can't fit into anymore. uh...by that, i mean... [ male announcer ] how do you get your bounce? long-lasting freshness.

[ male announcer ] how do you get your bounce? somemes ey jt dr in. alwa obvus. cmgroucan lp y navate ris ancapte oprtunies. we eble u toeach glal mkets and ive rwarwith oadepossilits. cme oup: w thworladvaes.

>> by the way, men buy, women shop. i made that comment moments ago. your comments, please, facebook, twitter, pour them in to me. am i right or am i right? check the big board, we're up 29 points, 15-4 is where we are. look at the price of gold as of right now we're at 1329. a couple of stocks for you, first a big loser, not big, radio shock, 15% is a big loss. whirlpool raises its forecast, that's usually good news for the stocks. strong sales of the home appliances in europe of all places, driving the stock up 7%, that's a pretty good gain. now, is it going to be a big day for the tablet market? apple is debuting tablets

today. and there's a phone/apple hybrid. that's what we concentrate on, the apple ipad. is this a major new product or is it the old product dressed up with a different color and a thinner face? what is it? >> well, it is a new product in that we're likely to see a new retina display in the ipad mini. that's the only one of apple's ios devices that doesn't have a retina display. that's a huge advancement, that manages internally, my sources are telling me. if it's dealing with battery issues and trying to keep that over ten hours of battery life with a new retina display and they managed to do it somehow. it's a thin body and how they managed to get that much battery life in that form is interesting. it's a new packaging. >> hold on a second. you've got to explain, what is this retina display? what's that mean? >> well, it's what you see on

the iphone 5 and the iphone 5s and it's the crystal clear, pixel for pixel view of the screen. so, it's that, you know, apple is the first to really come out with that in the iphone. so you're looking at crystal clear type on your screen, that's the retina experience. other tablets have the similar experience, you have the nexus 7 tablet and some of the new kindle tablets from amazon which boasts this retina style display. >> on the screen right now, clayton, you can't see it, apple is at 5.25 per share because the market is not dismissing the new ipads as merely cosmetic. they're taking your line and saying, it is something new and it's something different. and there's another story out there which is that the tablet market is real crowded and apple's market share, it's an ipad share of the tablet market is going to be down below 50%. it's heading down, not up. tell me about that.

>> yeah, i mean, that's interesting. you've got all of the other competitors nibbling at their heels. you have the galaxy tablets out there, the amazon new line of tablets on the market right now. so, apple has competition in the tablet space where they haven't had it for a while. and so you've had a quiet period over the summer and apple hasn't released any new ipads over the summer and now you're headed into the holiday quarter. so it will be interesting to see how consumer respond to the holiday quarter and we're hearing rumors of new colors. and maybe we'll see similar colors to the new iphones and also the tablets will that be enough to drive consumers to the market. stuart: clayton, i can hear heavy duty truck traffic from you. what i'm hearing at the moment. >> people are filing in here. starting to get busy. stuart: clayton have a good time at that apple event.

i know you will. senator ted cruz should be saying, i told you so. my take on the senator and the obamacare train wreck next. ♪ who's sorry now ♪ who's sorry now ♪

with fidelity's options platform, we've completely integrated every step of the process, making it easier to try filters and strategies... to get a list of equity options... evaluate them with our p&l calculator... and execute faster with our more intuitive trade ticket. i'm greg stevens, and i helped create fidelity's options platform. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account.

>> well, look at this. we've got another tech rally. look at amazon go. 332. and 65 was the high, love it. tech stocks straight up today. and then we have this, the scout master who had the rock formation. claiming he's disabled from a car accident. do you see this guy pushing a big rock? the judge is here to pass hour. we've got a lawyer who says that jamie dimon and j.p. morgan got their just desserts with the $13 billion fine. what? she'll be on the show later. if senator cruz were to say, "i told you so" he could surely be for given. here is my take. he chose obamacare as his hill to die on. he stayed on his feet for 21

hours trying to rally fellow republicans in a fight to defund and kill obamacare. he lost that battle. the president claimed the victory. but it looks to me like ted cruz was right. tactically wrong, perhaps, yeah, probably, bad for his party, certainly. but he tried to stop a disaster for america and now we can see that disaster unfolding. we've already seen the computer chaos for millions trying to log in. and now another bombshell. hundreds of thousands of people are told their insurance is being dropped. it will be in the millions very soon. by the way, it was ted cruz who released that report just before president obama went before the cameras yesterday claiming a fix was near. wait until you see the deductibles, through the roof. wait until you see co-pay, going up. find a new doctor? might be tough. work full-time? good luck. obamacare is upon us and you know, it's here to stay. can you name any government

program, let alone a brand new entitlement that's ever been withdrawn or significantly trimmed? the history of post-world war ii america, once you've got a government program, you're stuck with it and it usually expand. how do you like government care? having fun on those exchanges? it's bad. it's going to get worse. some republicans tried to stop it, they failed, they were reviled and demonized and now they can surely be for given for saying "i told you so." [ 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.

♪ nothing, that's what? that's why i take prilosec otc each morning for my frequent heartburn. 'cause it gives me a big fat zero heartburn. woo hoo! [ male announcer ] prilosec otc. the number one doctor recommended frequent heartburn medicine for 8 straight years. [ larry ] you can't beat zero heartburn. and best of all, it means i can enjoy all the foods i love. oh, zero heartburn is awesome. just like zero clery. ♪ [ male announcer ] prilosec otc. one pill each morning. 24 hours. zero heartburn.

[tdd#: 1-800-345-2550 life inspires your trading. tdd#: 1-800-345-2550 where others see fads... tdd#: 1-800-345-2550 ...you see opportunities. tdd#: 1-800-345-2550 at schwab, we're here to help tdd#: 1-800-345-2550 turn inspiration into action. tdd#: 1-800-345-2550 we have intuitive platforms tdd#: 1-800-345-2550 to help you discover what's trending. tdd#: 1-800-345-2550 and seasoned market experts to help sharpen your instincts. tdd#: 1-800-345-2550 so you can take charge tdd#: 1-800-345-2550 of your trading.

stuart: tuesday, october 22. obamacare. just look at this. letters are in the mail. taking millions of people off their health insurance plans. grace marie turner on that. crystal wright dissects the presidential performance. a scout leader with boys intel pushes over a rock. you will see it. that $13 billion fine, jpmorgan got just what it deserved. charles is here. he saw netflix coming.

♪ charles: the profits were up 73%. i am talking about making a whole lot of money between now and the next couple of months. don: if you have been listening to charles, you have been making a lot of money. reed hastings, he runs netflix, he said he is worried that the stock is too high. charles: you are talking 20% in ten days. you have to take profits. it is a big giant when in a short period of time. let it come back down. p2 why don't you be clear.

take profits. you are telling your subscribers to sell. charles: take profits sounds better. cell could be a loss. stuart: it was up $30 when the market opened. charles: it can still go back up. you prefer slow and steady. my company went public. at one point, it was the worst thing in the world.

stuart: technology rules the world. amazon. look at that. that is the new high. apple is up three dollars. they spoke 54.41. now check the big board. it was a weak jobs report earlier this morning. that means janet janet yellen will keep on printing. market loves it. whirlpool. strong sales in europe. nicole: that is right. their best customers are right here in north america. their profits in the latest quarter for whirlpool more than doubled in the latest quarter.

you see whirlpool with a knife up arrow today. stuart: i want to see if charles payne has a nice smile on his face. charles: a company called cleveland research downgraded. the stock plunged from like 150. people have to be very careful. stuart: they did not blame ted cruz. it is always his fault. look at this. florida blue terminating 300,000 policies. that is about 80% in that state. sending notices to 160,000.

grace marie turner is here. this, to me, is totally separate from the computer problems with obamacare and the exchanges. it seems to me that obamacare is really hurting the entire insurance market. am i going too far? >> no, you are not, stuart. there are about 10 million people with private individual health insurance policies. these individuals are getting letters from their insurance companies. this policy no longer will comply with all of the obamacare mandates starting on january 1. we are canceling this policy. we are offering them an option. they will be much more expensive. they will cover a lot more.

people are losing the policies. stuart: this happened to a small business operator that i work with. he got a letter from his carrier. they said they are not going forward with the plan. you can get another plan or you can take your chances on the exchanges. that is a lousy choice. did you say 10 million? >> people with individual health insurance policies. you are right, stuart. a lot of small businesses are in the same position because the policies they are providingo

not mee all t mantesf obamare. th cos twice as much. stuart: let's go back to the exchanges. what the administration needs is a lot of young healthy people signing up and pain in. if they do not get lots of those young people paid in, they have to raise the price offered to everybody. >> it is called a debt spiral that we will see happening. they need 2.7 million to being young healthy people. what is happening is only the people who are sickest and most the of the insurance are willing to spend 18 hours a day on this website to get through.

we will wind up with people who are most expensive and most need this insurance on these exchanges. stuart: train wreck. i see it coming. grace marie turner, thank you very much for joining us. i will move on to another obamacare problem. the president will bring in verizon to help fix the problems. >> can you hear me now? >> did you hear me now? >> can you hear me now? >> yes, we can and we did. stuart: not sure if we should have done that. townhall.com crystal wright joins us now from washington.

the president stood up and said we will fix this problem. he was surrounded by those people, a lot of them looking very happy with obamacare. what is your assessment? >> you know, stuart, president obama stood up there yesterday and it was almost like he was a used car salesman. i could not stop laughing. he said this is such a great thing. i know we have some glitches. you will have some wait time. the reality is, these are his words not mine, he said obamacare was not dependent on a website. he said you can sign up to the 800 number if you want to wait like for-five hours. it was the biggest fairy tale i have ever seen.

then he compared obamacare to a great holiday sale that will never end because you will get such a great deal. you will probably die trying to sign up for obamacare. it is true. stuart: let's turn our attention to kathleen sibelius. we are told that she will testify next week. do you think that she will take the fall for this and be forced to resign? >> i would say that is up in the air. she will blame the lower-level people. how can i be bothered with this, i am the secretary. i trusted people. i hope when she testified she can explain to us why she spent over $400 million on a website

that crashes more than it is functional. that is really the metaphor for what i think is going to be obamacare. it is one big message error that needs to be removed from our government. stuart: indeed. thank you. i have to say it was a lackluster september jobless report. only 148,000 jobs created. that is a very low number. look at the participation rates. that load job creation number to me suggests that janet yellen takes over the fed, she keeps on printing. that is why the dow jones industrials are up right now. >> i think that is a suggestion to the market. every trader i have mentioned this to has basically said it

means more of the same, the date for tapering gets pushed further out. he is saying this pushes the consensus out to about march 2014 for the fed to even think about tapering. the market is applauding that. charles: does anyone think there will be 250,000 jobs? why is today's jobs report news. >> they think the next few job reports will be money because of the shutdown. everyone is expecting we will get more dismal job reports. stuart: sandra, charles, hold on a second.

back to nicole. coach is a big loser today. nicole: it is. it really is. down 8%. when you talk about coach, this was a big drop. the biggest drop that we have seen since 2008. michael kors. north america is their big market. they are seeing inventory on the rise. not good news for coach overall. stuart: thank you. a scout master topples a rock at a park. he is claiming he is disabled. i think that is disgusting, quite frankly. the judge will pass judgment next. ♪

in today's markets, a lot can happen in a second. with fidelity's guaranteed one-second trade execution, we route your order to up to 75 market centers to look for the best possible price -- maybe even better than you expected. it's all part of our goal to execute your trade in one second. i'm derrick chan of fidelity investments. our one-second trade execution is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. once wrote something on a sheet of paper and placed it in his factory for all to see. ♪

four simple words where the meaning has never been lost. the challenge always accepted. and the calling forever answered. ♪ introducing the all-new 2014 s-class. mercedes-benz. the best or thing. introducing the all-new 2014 s-class. help the gulf when we made recover and learn the gulf, bp from what happened so we could be a better, safer energy company. i can tell you - safety is at the heart of everything we do. we've added cutting-edge technology, like a new deepwater well cap and a state-of-the-art monitoring center, whe experts watch over all drilling activity twenty-four-seven. and we're sharing what we've learned, so we can all produce energy more safely. our commitment has never been stronger.

stuart: charles says he will make us even more money with trip advisor. charles: someone downgraded it recently making it cheaper to beat the street. earnings estimates for next year continue to go up. i think it goes to 95 plus. it has been a little volatile here recently. stuart: you have to be a happy guy this morning. three days ago when netflix was 300, you said by this thing. it is now 356. charles: we are doing very well. i am like reed hastings. you cannot stay great forever. [laughter] stuart: i am the guy who invested in microsoft. remember. it is not funny, judge. stop laughing.

okay. all right. let's move on. you have seen this video. the boy scout leader toppling that rock. the guy just pushes it over and then claps and cheers. i want to discuss that behavior. i also want to talk about this man. he was claiming he was injured in a car accident. let's get the facts right here. judge, first of all, his behavior is disgraceful. >> he has destroyed a national treasure. this is some sort of a natural formation that has been there for thousands of years. now it turns out that he had an automobile accident where his car was rear-ended beard when your car is rear-ended, it is

the matter of the person who did the rear ending. we do not know the extent of his injuries. he could not have been injured too badly if he is able to push this rock over. stuart: he is not claiming disability? >> no. that would have to be because of a work injury. stuart: the guy or woman who rear-ended him and is -- though broad pusher is saying you rear-ended me, pay my dr. bills. >> the guy who did the rear ending has a great case that will never come to trial now.

could this man suffer any adverse consequences from this stupid, disgusting behavior? he could be sued by the government for destroying this government property. we also do not know the extent to which he claimed his back was injured. he may very well have problems with credibility. he made claims under oath in that case. he will have problems. stuart: the moral of the story is cameras are everywhere. absolutely everywhere. on this location, it was video that he himself posed for.

>> that is a great observation. there is no expectation of privacy. he himself had his friend take a picture of him destroying government property. stuart: does a pile of rock concert to a national monument? >> that is a good question. because this has become viral, a lot of people have blogged about it, some people say this has been there for 1000 years untouched, does that make a national monument? i do not know. one of the greatest tricks the government has pulled on us is convincing us that it will keep us safe will we surrender our privacy. when you are in public taking a picture of yourself destroying

government property, you have no right to complain. stuart: you are foolish, to say the least. [laughter] >> would he wear that green tie? stuart: if i gave it to him. [laughter] stuart: thank you very much, judge. great stuff. check the share price of netflix. briefly, it moved lower. now it is up three dollars. remember, please, charles said take profits when it was up $11. charles: reed hastings. stuart: hold on a second, everybody. we have someone with us that will pour cold water all over netflix. this should be fun.

>> 22 years in congress, i can spell which way the wind is blowing. ♪ [ male announcer ] need help keeping your digestive balance in sync?

try align. it's the number one ge recommended probiotic that helps maintain digestive balance. ♪ stay in the groove with align.

stuart: gitmo we save this market wants to go up? is going up 120 points for the dow, a 15-5, hundred points from

an all-time high. then we have tightened, and american tiremaker, there ceo made headlines when he read a letter to the french industry slamming the laziness of french workers after he was asked to buy out a good year plan, here's what he said. the french work force gets paid high wages but only works three hours. they get one hour for breaks and lunch, talk for a three, work for three. things of changed. maurice taylor is going to go for that plan but only taking 300 workers. he will invest 1 hundred million workers but only taking 300 workers, 1100 he will not take. i think he won. back to netflix, we are calling it the king of streaming that dennis kneale is here. he will pour cold water on netflix, an american technology champion. he is not impressed. first of all get that smile off your face.

you are not impressed with netflix's international performance. >> i'm impressed with its stock rise since it is up sixfold in the past year but if you look of the overseas push this is a company only 21% of their total subscriber base is from overseas, 21% from revenue and international expansion decrease earnings by 44% in the corner. this is not come to celebrate. reassigned the million internationals and lose more money. stuart: they have a global marketplace now. >> they said they are in 41 countries but 80% of their circulation is in the u.s.. this is a u.s. company. stuart: is there room for growth overseas? >> if you look at the free cash flow, after you pay for capital, $7 million stock away, finance international expansion with that?

second quarter or third quarter, u.s. subscribers up 4% in the quarter, overseas subscribers of 20%, stock price of 46% in the quarter. this is the stock boosted by love. this is an easy way for wall street to play the internet streaming thing but you got a question of when the stock is ahead of itself, with the of itself and then. stuart: i know you will pour cold water on this one, the original content netflix -- >> advancing themselves to be in hbo. a more shows you make, the more will flop. that is the law hollywood. and those shows are binge worthy, we binge on 13 episodes at once and that means netflix has to write off for cost of the programming much faster than it used to end this quarter for the first time they did that and reduced earnings by $27 million, net income was thirty two

million total worldwide and a twenty-seven million-dollar deduction after riding of binge viewing for the original programming which was the company's future. and that is going to come out of the profits, reducing earnings and what will investors think so far? it is 400 times earnings or 500 times earnings so it won't even matter but at some point it might matter. stuart: are we doing? >> i guess. charles: there are different ways to evaluate high-growth companies. people have been shorted, got crushed so it is a similar story to amazon. you can view certain traditional evaluation. >> when you see them begin to upgrade the stocks are still higher. charles: that is a different topic, the ineptitude of wall street and recognizing good stocks.

i loved it personal stuart: you have two minutes, you are talking and he ran with it and got it. you are communist. dow still up 109 points and netflix of 5 but dennis brought them down a couple points. wait for it. prenups and the economy. don't think the two are related? after the break someone says they are. it's a growing trend in business:

do more with less with ss energy.hp is help. soon, the world's most intelligent servers, designed by hp, will give ups over twice the performance, using forty percent less energy. multiply that across over a thousand locations, and they'll provide the same benefit to the environment as over 60,000 trees. that's a trend we can all get behind.

maestro of project management. baron of the build-out. you need a permit... to be this awesome. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. (aaron) purrrft. (vo) meee-ow, business pro. meee-ow. go national. go like a pro. sometimes they just drop in. always obvious. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances.

i'm, like, totally not down with change. but i had to change to bounce dryer bars. one bar freshens more loads than these two bottles. i am so gonna tell everyone. [ male announcer ] how do you get your bounce? [ woman ] time for change! stuart: hillary clinton host the fund-raiser for the democrat mayoral front runner bill deblazio a roosevelt hotel. tickets started and one thousand dollars and went up to $25,000. it was a two our cocktail reception that netted deblazio $1 million. cheese leading his republican opponent by at three-1 margin.

looks like a winner. and we have prenuptial agreements. we peer they are on the rise possibly reflecting the state of the economy. the survey shows 63% of divorce attorneys sought an increase in the past three years. people be more protective of their assets. here is a divorce attorney michael stuntman. are you waiting for me to say something? if i called you a bottom feeder would you be offended? >> wouldn't be offended but it is not true. stuart: when you are in the top end of the pool. your clients are ricc and want to protect their assets. 63% increase on the number of teen's you are seeing, is that accurate? >> quite accurate. it all has to do with the fact that things are worth more than they were not long ago so people

are afraid of losing. stuart: for rich people, million dollars in assets, what proportion? go for a free not when they get married first time or second time? close to 100%. >> not that high. you would be surprised how few people use prenuptial collapse. stuart: people with net asset net worth of $1 million, the guy or the lady, what proportion? get out with a prenuptial will? >> it is a relatively small percentage. stuart: give me a number. >> 20%. stuart: i am surprised. love triumphs. >> it is the triumph of hope over experience. stuart: deride the prenuptial? >> yes. stuart: is there such a thing as a cast-iron prenuptial? you cannot get around a matter what happens? >> no. i can't say no matter what happens you can't get around them particularly in new york there have been recent decisions that seem to have been injected

vulnerability but as a general rule if there is fairness in that negotiation, if both sides have a lawyer, there are no side deals being made that are under the table, in new york anyway, the prenuptial agreement is something you can bank on. stuart: do you work by our tour they upset feet or do you have a proportion of the assets to be protected? >> going to your last point first you cannot do that. nothing to do a proportion of that. stuart: if you want a prenuptial you can't save for 5% i will write you a cast-iron, you can't say that. what do you do? my charge is $600, $700 an hour, i can turned this out for you in 50 or 60 hours. are you happy with that? >> we don't use the word insurance. i don't think that is any more fun in my business than yours.

it is usually an hourly rate and depends how much time it takes. some people, one of the big features of prenuptial agreements is to protect the state plans that have been put in place after a prior marriages so there are trust documents, estate planning documents and tax returns that have to be reviewed. charles: people with more where, look at popular culture and see what is happening with kim kardashian and her marriage, obviously windfall for you because more people who might not have thought of it before think about it all the time. >> there is a social contagion aspect to it. that contributes to the fact that there is more than there was. stuart: you enjoy it. you have a sense of the lead. your face lights up. >> i like what i do. charles: when the market is up. stuart: it is true. the dow is up 107 points, close

to an all-time record high and you love it, bring in business. good for your business, isn't it? michael stockman, good man, thanks for joining us. the obama administration going after big banks, billions of dollars in fines. some call it a wall street would tend. after the break someone who says jpmorgan got their just deserts. could be a fight in the air.

stuart: the mayor of chicago, rahm emanuel calling for a huge cigarette tax increase. you wants to add $0.75 to the higher tobacco tax bringing the attack on a pack of cigarettes and no windy city to 742. that is the tax. the highest rate in the nation. a strike in san francisco coming to an end, 23 and did a very rapid transit employees agree to go back to work after four days on the picket lines. terms of the agreement not released. they hope their back to running

full schedule this afternoon. or again moving ahead with a controversial program to tax drivers based on the number of miles they drive rather than the gas the use. existing per gallon gas tax supported diminishing returns. fewer people driving, fewer miles. back in a moment. i see a world bursting with opportunity,

with ideas, with ambition. i'm thinking about china, brazil, india. the world's a big place. i want to be a part of it. ishares international etfs. emerging markets and accesingle countries.arkets, find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus, which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. stuart: amazon keeps going up. how high is it? nicole: the new high, 337-11,

still showing 1-1/4%, this year's of 31%. stuart: a few moments ago was 337, now has dropped to 330 still higher on the day but 337 was the intraday high. >> exactly correct. stuart: on want to turn to netflix which turns lure. i got to remind you dennis kneale poured some cold water over the stock ten minutes ago. he talked on this show and the stock goes down 14 points. is that coincidence or the power of "varney and company"? charles: 26 to take profits. stuart: i heard that. saw i was 389. now it is 335 and going down 20 points. charles: the ceo says the stock is too high. stuart: when dennis kneale pours cold water on "varney and company" it goes down.

the obama administration taking the big banks for billions of dollars and our next guest says the banks deserve it. joining us is securities attorney janice, welcome to the program. you are perfectly ok with the $13 billion fine for jpmorgan for what they did in the crash, thirty-second, make your case. >> it was reported in the news that $2 million is a penalty for their conduct, the rest is restitution of ill-gotten gains, dirty money, that it made in the 2008 financial crisis and the real-estate market and what they imparted from washington mutual and bear stearns. stuart: are they being punished for what washington mutual and bear stearns did? remember please at the height of the crash that was in late september 2008, the height of the panic, the government pressured jpmorgan please take bear stearns away, do something, take them over and they did.

they didn't have time to do due diligence, they took some over and now the government says you wicked people, $13 billion please. >> nothing more than of a pr campaign. stuart: true. are being punished for taking over by bear stearns at the encouragement of the government? >> they took over these businesses that pennies on the dollar and achieve a bear stearns, they bought a building, got the business for free because the building was worth 1.2. and they went in with their eyes wide open. and put an end to their head. stuart: they did. wait. the government did put a gun to their head. they were vigorously encouraged to take over bear stearns and did not have time for due diligence. was the height of the panic. >> they were in -- washington mutual. stuart: you are blaming them for not doing due diligence. >> they were doing business with

washington mutual. charles: you just said they went in with their eyes wide open but on the other and fannie mae and freddie mac did business all day long. why where they somehow aggrieved? why are fannie mae and freddie mac victims to the tune, using the same argument you are using, they should do their own due diligence. how did thhy get ripped off? >> and demand freddie mac, there was misrepresentation made by these banks. charles: come on. the end freddie mac, they have seen every loan ever made in this country, their responsibility just like it was their responsibility like jpmorgan's responsibility on bear stearns should have been fannie mae and freddie mac's responsibility to know what they're buying and got in over their head and don $187 billion from the american public that will never be paid back and this is a witch hunt. >> they violated securities laws in an egregious way, topples the

economy in 2008. stuart: you bought the line. it is all the bankers's fault and wall street's fault, taxes them, rake them. >> this was no gift. they got profitable business and o a record high after inheriting the business, businesses with the dirty money. stuart: doubt profitable businesses, bear stearns was profitable? >> at the end of the day -- was more than a bottom for. they went to record profits after they took some in. this was not an eyes wide shut deal commack calculated risk they took and i think they made money. stuart: when it is a witch hunt. real fast ten years, two years down the road a small bank in trouble, i am a big bank. you think i will take some over? this government is going to kill me if i take them over. >> you will take a tax calculated risk, look what is ahead of you. stuart: i am a big banker and i

will say under no circumstances. if i can't stress the government. >> you are a risk averse entrepreneur, not always a good thing. stuart: not allowed to be an entrepreneur or a 5 a big bank. >> $23 billion in visiting this. it is coming, the biggest prove they knew what was coming. stuart: when you drink the kool-aid big time. thank you very much for joining us. look at netflix down even more. just got a downgrade, and for all hold the whistle was down 15 points. high school football coach run the score to 91-0.

we talk about that in a moment. the dow is toxic. [ male announcer ] once, there was a man who found a magic seashell. it told him what was happening on the tradg floor in real time. ♪ the shell brought him great fame. ♪ but then, one day, he noticed that everybody could have a magic seashell. [ indistinct talking ] [ male announcer ] right there in their trading platform. ♪ [ indistinct talking continues ] [ male announcer ] so the magic shell went back to being a...shell.

get live squawks right in your trading platform with think or swim from td ameritrade. more than a new interior lighting system. ♪ it is more than a hot stone massage. and more than your favorite scent infused into the cabin. it is a completely new era of innovation. and the highest expression of mercedes-benz. introducing the 2014 s-class. the best or nothing.

stuart: hundred of you are asking questions about me on our face book and twitter accounts. if you have requests in, what is my favorite hobby, what was my first car, just ask the.

we are going to answer those questions in a special video which we are going to put frequently on facebook and on twitter. get those questions coming in. is there anything you would like to know about me that you don't know already? charles: not much of the traditionalist, how much resistance did you put when they tried to get off the horse and buggy? how long did it take before you came are around to this thing called the automobile? stuart: a bling complaint against a rival team's coaching staff's and 91-zero loss. bullying? really? you don't agree with that. charles: absolutely not. you got whacked, go back, get better, lesson in life is it will happen more than once. the bull being thing is out of control. it really is to the point -- stuart: misapplication of

statutes. that is not bullying. charles: they beat you. stuart: i think un die agree. charles: it only took an hour. stuart: men versus women when it comes to shopping. women shop, men bosh. your take on that is next. you make a great team. it's been that way since e day you met. but your erectile dysfunction - itld be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right.

you cabe more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, as this may cause unsafe drop in blood pressure. do not drink alcohol in excess with cialis. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, seek immedte medical hel for an erection lasting more than 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 the lips, tongue or throat, or difficulty breathing or swallowing, stop taking cialis and get medical help right away. ask your doctor about cialis for daily use and a 30-tablet free trial. help the gulf when we made recover and learn the gulf, bp from what happened so we could be a better, safer energy company. i can tell you - safety is at the heart of everything we do.

we've added cutting-edge technology, like a new deepwater well cap and a state-of-the-art monitoring center, whe experts watch over all drilling activity twenty-four-seven. and we're sharing what we've learned, so we can all produce energy more safely. our commitment has never been stronger. stuart: during our 9:00 the hour i asked whether it is true that when shopping women do in fact shop and food to simply buy. we had a big response in social media. here's what you had to say. robert tweets go to any target, jpmorgan, filled with women, browsing. men go for a specific product, you are right. diane says guys like to get in and get out, true. women want to shop to see if there's something we like better and a better deal. correct. david says i don't want to walk into a store unless i know what

i'm going to buy and don't buy anything not planned before i get there. i-man the disagrees with me saying i hate spending time shopping. if i ask for it is a for specific reason. i hardly ever browsed. well said. charles, use a web? charles: i go into the quinella one. worst thing a salesperson can do is overporche. i typically no one, i am not going to browse, ago in and i'm a pretty good shopper. you want me to spend money. stuart: when you like this. connell mcshane, it is yours. connell: there was a time you wanted to buy those most famous sandals and what you wanted. the white sox and you are off to the races. remembers that? you guys are funny. charles will be with us next hour. moving right along, shut up, he says. how much did the administration

now before the health care websites went all i've? that is the question. today there are reports that five million lines of code need to be rewritten to get this thing fixed. former massachusetts senator scott brown standing by. one firm is pushing back its timeline on the fed after this morning's jobs report which fell short of expectations. than the best cities in the world for business. we have the list, talking about cities more companies call home. that means more jobs. who is more excited about the new ipad? you or your kid will end up playing in real birds or candy crush on it. apple is expected to make the announcement it today but we will tell you about some big challenges facing the company as it does so. that and