Skip to main content

tv   Markets Now  FOX Business  October 25, 2013 1:00pm-3:01pm EDT

1:00 pm
>> time is money, we have got you covered. adam: how about $220 million in advice? chief investment officer, now is the time to be risky. it is an interview will only see on fox business. lori: a dangerous proposition investing in banks. dick bove on wide banking stocks are, quote, that money. adam: ups forecasting its busiest shipping the will be 8% better from last year. this is a call we have not been hearing from retailers. we will ask ups at ceo what this means and what makes the shipping giant so confident. lori: one thing standing in web
1:01 pm
get yellen's confirmation as federal reserve chairman. senator rand paul. we will tell you about this coming that. will get updated on the market, 29 point gain, and the stock exchange, to you first, darren this in the on track for another winning week. falling earnings from microsoft and amazon.com. >> they are setting the tone, for the most part have been great albeit with pretty dismal expectation, beating the guidance looks good, the economy only has one way to go if you listen to the pessimists, thank god for carl icahn for keeping us entertained in these low-volume moments. cheryl: talking about the $150 million share buyback, and wearing about yourself to something good for others,
1:02 pm
twitter war went down yesterday. what do you think apple should do? $147 billion of cash on the sidelines or on the balance sheet. do you think they should boost your share price of little bit? >> in all fairness, i a personal position in apple. and this is what they do, but the fact is if they're not going to be implying, and they can do something with it. i didn't buy savings-and-loan when i bought apple's stock. i bought a tech company. f-cat order. and do something with it. lori: a lot of industry needs, a lot of people think the runup was too far too fast. do you agree?
1:03 pm
>> i disagree. the technology space, i said this before, is only effective if you reinvent the wheel. and with that ability, they constantly get the change over and over again and that is very unpredictable with added risk to it. and have nimble management and figure out how to generate additional revenue with new products over and over again and so the ones in the texas defense all codifies products, semiconductors alone, they have a tough time. lori: have a fantastic weekend, appreciate your time and your insight. let's check commodities, phil flynn, a second consecutive day, checking the wild ride this week for crude. >> all those big inventories and the market selling off, and has to do with the wti spread, and that is blown out with breathtaking got a high-level mainly because of concerns about
1:04 pm
what is happening with the refinery in scotland, a big labor disputes at the refinery down, even threatened to close it down forever until union deal was reached. what does that mean for u.s.? the u.s. won't be exporting as much gasoline and product to europe as they thought. if they lost that refinery, they will be using crude. that was a good thing. also brought down gasoline and heating bills. people buying treasurys too. don't often see that correlation. >> if you look at what has happened we are looking at q e forever in the bond market. remember the market is so overcoming the fact that they thought the fed was going to tipper last time and some of it is bleak. a lot of traders are taught to think that the fed is locked
1:05 pm
into a non paper situation, well into march if not further so it will be bullish for the bond market. oil traders are not carrying as much because of the big inventories, we see a breakdown of a correlation. in won't the risk on or risk off when producing so much. lori: what is going gone with issues affecting trading? >> that was a phone switch that knocked out a lot of the internet connections across the trading floor. there are three or four platform that use the internet connection. some were down for a while. there were a lot of borders caught in limbo. begging calls across the trading pits, what is going on with the orders? we can fill you in if you want, or you just have to wait. the cme got on a problem that fixed the switch, we are up, and from what i understand all the orders that were placed were
1:06 pm
filled. >> among the winners, the stock is touching a 52 week high, to spin up the chemical business in the next 18 months. the unit makes materials from nonstick frying pans to house paint. that will allow dupont to focus on higher growth areas including specialty materials and agriculture. cheryl: u.s. equity and not the only attractive investment, european equity seeing the biggest inflows according to bank of america merrill lynch, billion dollars last weekend investors have been pouring money in for 17 straight weeks. some big banks are advising for european stocks. a lot of analysts say look at europe, there is opportunity, the allure of valuation than many american counterparts. is american business investment? adam: my next guest says yes, he's putting a lot of people's
1:07 pm
money overseas, $22 billion as investment officer and president joins me now a fox business exclusive. thank you for joining us. this is part of monday, you will talk about why the in the midst the terrain the good place to invest. you're talking about equities. >> in chile. the united states, despite the fact the we had all this storm over the budget and the debt ceiling and certainly very serious fiscal issues the u.s. is going to be grappling with over the next few years but there are terrific companies that merit consideration. adam: if we get into the fiscal issues, what is under consideration, and how will younger people rebelled against their parents because younger people, what did inherit wealth from their parents or support their parents is a big issue as we go forward. >> generally growth is underprice. you confined big companies that reasonable valuations.
1:08 pm
we are seeing new highs on many industries. the multiples are not areas we would call nosebleed territory so there is room to expand. adam: would you sell individual stocks? >> i would not get into specifics. people are too skeptical of growth opportunities. american companies are worldbeaters with terrific opportunity. adam: people get skeptical because of not acting in equities happened in fixed-income. they were in the headlines in all--about puerto ricans death. not as pr but municipal debt in chicago, pension problems in illinois. its investors and draws attention to the fact the current generation of young people in their 20s per's will rebel but realize they can't support the benefits going forward. >> stanley has been out pounding
1:09 pm
the table really on college campuses about the issue and the demographic ones are very serious. i see no way that over the next few years taxes won't go up and inflation won't go up just to service the amount of debt because there's no appetite in congress to check for the growth of entitlement spending so it seemed inevitable to me. so it means young people today have to take charge of their own financial security much sooner than they might otherwise want. adam: this might be playing out in real time with puerto rico and an article that is quite critical, morningstar pointing out municipal mutual-funds, holding the initial bonds at oppenheimer has 12, the largest exposure to puerto ricans death and puerto rico is not out of the wood. lot of people are concerned pr may still wind up causing serious turmoil in the bond market going forward.
1:10 pm
how does oppenheimer -- >> first of all puerto rico is improving. it is absolutely true that the finances are weaker than they are in the highest rated states but certainly not unique among municipalities. >> 45% unemployment, 45% unemployment, they have more puerto ricans living in the united states than on the island and roughly $70 billion in debt to gdp, that is $100 billion. >> it is a weaker credit which is why yields are so high but consider the very significant changes that have been occurring in pr to address these issues. the new administration there which arguably was more left of center administration and expected to be more populist has got religion. there are some parallels to what went on in brazil when lulu was elected a decade ago. those of us who are familiar with the emerging markets were quite worried about what was
1:11 pm
going to go on with this left of center administration but they had the credibility to make the tough decisions and we see that going on in pr. adam: we got a note today saying we should open up the federal reserve discount window to help pr roll some of its debt to. if they are concerned this situation isn't growing fast enough and in fact some of your funds, everyone talks about rochester funds but it is down 10% for the year. >> puerto ricans debt is down to levels that are pretty close to restructuring levels and you are seeing the hedge fund swooping and in quite a large bit of size to buy the debt at this point. one of the things that is interesting is strong two way markets, a lot of liquidity but the debt if you look at long-term puerto ricans that is down $0.66 on the dollar. all the issues you point out are real enough.
1:12 pm
the price reflected that. most of the damage is done from our perspective, investors are not giving enough credence to the very material forward looking changes that will take time, moving in the right direction. >> the secretary of state and massachusetts, asked for meetings with oppenheimer and the sec. they are investigating now just what kind of information funds shared with investors about puerto ricans death. the letters -- >> the sec sent out as has the attorney general of massachusetts, letters to have a dozen or so mutual-fund companies, asking them about their holdings in puerto rico, asking about their disclosures of round pr and we are comfortable. if you look at our prospect as we are clear about exactly what we invest in and the reasons for getting involved in those investments.
1:13 pm
we think our disclosures are absolutely rock-solid. we are being very forthcoming with the states and the sec as are all the other mutual-fund companies to are being questioned. >> is this much more a news created firestorm or is this a real firestorm with this puerto ricans that? >> there has been a loss of confidence in puerto ricans that that bubbled up to the surface just recently but the actual credit quality of the island is better today than it was a couple years ago when they were having no trouble rolling over their dead so there's a psychological aspect and the media has fanned the flames. we see opportunities. adam: would love to continue the discussion and see where this goes but thank you for joining us on fox business. lori: we are getting more details on twitter's upcoming c. the offering between $17, $20
1:14 pm
per share valuing that company at $11.1 billion. some analysts are calling that number conservative, they believe twitter is taking this approach to avoid the fate of companies like facebook, groupron and zynga, it plunged in the first few months of going public. next week twitter kicks off the road show making it stick to potential investors and if there is high demand for the stock it is possible twitter will offer more share and price even above that expected range. social media giant says it is expecting to price a profit nov. 6 meeting twitter will make its debut on wall street on the stock exchange the following day and ticker symbol tw t r. tracy byrnes and ashley webster breaking down the numbers with michael packer. adam: seeing stars, pink ones again, the rare pink star diamond is set to become the world's most expensive jeweled. >> details on a possible roadblock to the janet yellen
1:15 pm
confirmation. adam: keep your friends' clothes and your enemies closer. the latest fallout over the nsa spying allegations. ♪ thrusters at 30%! i can't get her to warp. losing thrusters. i need more power. give me more power! [ mainframe ] located. ge deep-sea fuel technology. a 50,000-pound, ingeniously wired machine that optimizes raw data to help safely discover and maximize resources in extreme conditions. our current situation seems rather extreme. why can't we maximize our... ready.
1:16 pm
♪ brilliant. let's get out of here. warp speed. ♪ [ male announcer ] once in a while, everything falls into perfect harmony. [ engine revs ] and you find yourself in exactly the right place at the right time. just be sure you're in the right car when it happens. the 2014 c-class sports sedan.
1:17 pm
power, performance and style in total alignment. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. through mercedes-benz (announcer) scottrade knows our and invest their own way. with scottrade's smart text, i can quickly understand my charts, and spend more time trading. their quick trade bar lets my account follow me online so i can react in real-time. plus, my local scottrade office is there to help. because they know i don't trade like everybody.
1:18 pm
i trade like me. i'm with scottrade. (announcer) ranked highest in investor satisfaction with self-directed services by j.d. power and associates. adam: back to the floor of the new york stock exchange, nicole petallides standing by watching the couple names out with some earnings we got earlier this morning. >> we start off with a dow component procter and gamble, seeing it to the downside down 1%. and earnings on line, and some call setting, better tax bases, backing their full year guidance. co-pay report, not a blowout, we are watching ups and that is a different story.
1:19 pm
a new high as ubs said the demand for domestic and abroad, going to the holiday season, expect to boost a nice high on ubs. adam: ups's cfo will take a closer look at the numbers and may be head wind people are talking too much about. lori: trying to put janet yellen's nomination as fed chief on hold. mrs. yellen is set to meet with senators on capitol hill next week. peter barnes is standing by with the latest. senator paul has some legislation he is looking to as a hedge in favor of. >> senator paul is a republican conservative from kentucky, leading fed critic in the senate and considering trying to block janet yellen's nomination with this hold as he pushes for a vote on his bill to get more
1:20 pm
audits to the fed and its operations. he said in a statement, quote, as part of senate consideration of the janet yellen nomination i will request a vote on my bipartisan federal reserve transparency act the american people deserve transparency from the federal reserve and the federal government as a whole and as you said this comes as janet yellen is about to head up here to the senate to start meeting with senators on her nomination and her critics are right behind her following her up there. a conservative group, american principles in action opposes the fed adds easy money policies as potentially inflationary including trillions in quantitative easing. >> the only segment of the economy that helped is wall street and that is not the fed's bolt, the obama administration's bowl, so for them to double down on this policy and leave the fed for the next four years it makes no sense.
1:21 pm
>> the group launched a web site, noonyellen.com, an online petition and rich thinks they might get somewhere with this. and 30 no votes but her allies are defending her. one of her colleagues, dr. kristine aroma for about her career he has shown a concern about inflation whenever it was a genuine possibility. critics should study her record in ridings carefully. lori: what does this say about the timing? what is the likelihood we end up without a fed chief if they put the nomination on hold and ben bernanke's term expires how this unfolds? >> there is time to clear this up and we see these holds all the time and usually they get negotiated, usually the senator puts a hold on, work something out, works out, work out some
1:22 pm
kind of vote for the senator on the piece of legislation. one of -- person close to senator paul says he has not decided yet whether he is going to do this so obviously it is a negotiation. lori: thanks, peter barnes. creditors question emergency manager kevin nor with the dead of the city's filing for bankruptcy. adam: dick bove's call on the dangerous game on banks. stocks are, quote, that money. he will join us to explain why. [ male announcer ] sheets or bar? how do you get your bounce?
1:23 pm
1:24 pm
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. ido more with less with buss energy.hp is help. [ male announcer ] how do you get your bounce? 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.
1:25 pm
1:26 pm
>> your fox news minute. five people injured last night, two si prius rihanna real ride at the n.c. state fair. preliminary investigation indicates they may have been getting off the board tax ride when it started again. the injured ranged in age from 14 to 39. demolition very on the sandy hook elementary school where a
1:27 pm
gunman killed 20 first graders. it will be dismantled piece by piece without the use of a wrecking ball. the project will take several weeks. a new school building is due to be completed by december of 2016. we switch to a lighter note, the world series is all not enough, the st. louis cardinals taking game 2 of the series in boston 4-2 thanks in part to two costly errors by the red sox. they get the night off before tomorrow's game, game 3 in st. louis. catch all of the action at 8:07:00 p.m. eastern. those are your headlines. back to lori. adam: breaking news. there's been a magnitude 7.3 earthquake recorded two 31 miles off of japan. no widespread tsunami threat as of yet. lori: before you jump in and invest in the banking sector you
1:28 pm
might listen to our next guest, banking analyst dick bove calling bank stocks did many. welcome back to the show. -- explain what you mean. >> there are two threats and coming at the banking industry, all of this litigation is number one. you have six states that indicated they want to sue nine banks demarcated for this in addition to which there are another three banks that i think can be sued. there are a bunch of other states, eunice fatalities, places like the manhattan district attorney which continue the suit against the industry and the reason bringing up old suits, the bernie madoff thing and jpmorgan. on the other hand if we forget the litigation and look at the fundamentals of the industry the third quarter was very disappointing on a quarter over quarter basis about 80% of the companies that i followed
1:29 pm
shutdown earnings and that was because there was no resilience in the economy. there was no excitement to get loan volume, margins were low. you had run out of the amount of reserves you could push into earnings, two things going against you. number one, you are going to be hit with bad press constantly and number 2, you will be looking to find where the neck but in earnings is coming from. lori: what is your best financial advisor for shareholders? you are on the record on the jpmorgan fight, this is an attack on capitalism and it is possible the government is taking away the property of the jpmorgan shareholders. recommend class-action status? what do you do? >> no question if the directive of jpmorgan giveaway shareholder money to the government without a trial, that is an outrage and they should be removed. basically speaking, shareholders
1:30 pm
and jpmorgan, 99.5% of that company's stock is owned by individuals so if they are going to take the money away from those people, $13 billion a year, who knows how many billions, they should at least be some trial so this concept that the way we are going to try this company is through leaks to favored members of the press is i don't think american justice. essentially think about it, how is this information coming out. they're not sending this information to everyone but giving it to favored reporters who can fashion it so it makes the government look good. lori: i am not one of them but from an investor's perspective what you'd gleaning from the latest earnings report out of the financial sector? what is possible for the banks and would investors be looking for in making a decision because there are a lot of financials, some sectors within the group. >> of the cap the capital markets, trading did not work
1:31 pm
very well in the quarter and investment banking was week. what did work well was well management. if the government is going to print money at a rapid clip ultimately that money gets owned by someone and if the normal percentage goes to the wealthy versus an non wealthy and basically the wealth management business has a pretty good outlook ahead of it. morgan stanley being more associated with the wealth management side of the business tends to be attractive. if we look at the core banking side, unfortunately the big lending areas, commercial lending and mortgages are not doing that well, auto loans are very strong, commercial real estate is coming back relatively well. i would go to the midwest to find companies that might be a good place to put your money in this type of environment. as you say there are always issues where there are
1:32 pm
opportunities. yesterday everscore was up four points, because of the theory that mergers and acquisitions . i agree with the theory the stocks are at of themselves but that may be another place we can take a look. lori: dick bove, thanks again. adam: dermott's chancellor and mexico as vice president and not the only officials monitored by the national security agency. the latest report out of the guardian says the secret document revealed a government official handed 200 numbers to the nsa 35 of which belong to world leaders although the names of those leaders have not been released. the report goes on to say individuals are encouraged to reach out to their contacts in other government departments to get roll indexes that include foreign leaders. lori: teenagers giving the control of a new trend that is turning the auto industry on its ear. adam: ubs expects the consumer
1:33 pm
deliver better than expected holiday sales in shipping but could china put some all in their fourth quarter stock. we will ask the cfo next. when we made our commitment to the gulf, bp had two big goals:
1:34 pm
help the gulf recover and learn 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.
1:35 pm
does it end after you've expanded your business?? after your company's gone public?
1:36 pm
and the capital's been invested? or when your company's bought another? is it over after you've given back? you never stop achieving. that's why, at barclays, our ambition is to always realize yours. lori: wrapping up the week here on ball street. let's bring you up to speed where we are. back to the floor of the new york stock exchange to check in with nicole petallides. nicole, stocks posting modest gains today. >> they are indeed. right now we're off the earlier highs from the day but still posting a gain on the dow, 20 points, sitting at 15,530. it is not only a gain for the day but also for the week. so this is going down as a winning week on wall street. nasdaq at new highs as we're watching tech stocks, both microsoft and amazon moving up on the quarterly numbers.
1:37 pm
amazon came in with a profit -- actually a loss. you can't say they have profits. they are doing great with sales and momentum into the holidays and microsoft knocked it out of the park for both top and bottom line. so we continue to see strength as well. back to you. lori: thank you, nicole. adam: shares of ups hit an all-time high after the package shipper reported better-than-expected earnings. ups propertied profit of $1.16 a share, that is penny above the estimate but revenue came up just shy, 13.5 billion, shy of the estimate, 13.6. kurt kuhn is the chief financial officer from atlanta. good to see you, curt. i will start with the negative and go to the positive. during the conference scale you said i don't want to end on that note but it had to do one issue, health care. you said obamacare ended up being more after burden than you thought it would be. how is that. >> it is driving up cost. next year the aggregate of the cost of the affordable care act
1:38 pm
will be upward $100 million. our real message, adam, the focus should shift how do we follow and take advantage of the what the affordable care act is supposed to do to drive down health care inflation f it succeeds in that, that 100 million will be a good investment. adam: investors will be watching that. they will also be watching the revenue picture. just a slight miss on revenue. everyone is happy with the performance on earnings. maybe you can explain to someone like me an understand, supply chain and logistics. in the quarter you were down .7 of at a percent. first nine months sit is down 7%. i'm sorry down about 1%, 1.1%. forwarding and logistics as part of supply and low division ticks supply shane -- logistics supply chain. talk about asia flat, going forward. is that a pretty big problem, is it not? >> there were really two issues in the quarter in our forwarding and logistics group.
1:39 pm
one, we were the official sponsor and logistics company for the london olympics last year at this time. so that depressed some of our revenues. we've seen most of this year that exports and shipments out of asia have been a little erratic. that market is a little weaker in tonnage and also rates are lower. adam: it would seem too, we're getting conflicting information out of asia. we hear how china's economy growing better than people thought it was. we look at numbers and your reports as well as one of your competitors, perhaps it seems the chinese are not perhaps giving us full picture. >> you have to differentiate the growth in china, which is maintaining pretty well as china focuses on domestic economy and focus on china exports to the rest of the world which shows up in the forwarding and some air express numbers. adam: let's get to the good stuff in the report, and positive. i promised you grow there. domestic delivery is pretty
1:40 pm
good. daily volume grew. you expect this to continue, especially despite retail sector saying holiday sales could be a little bit poor. you're expecting 34 million packages on peak day, december 16th, that is more than the 28 million last year. >> yeah. this is an exciting time for the ups the holiday season we really have to shine. our volume almost doubles. we are expecting to hire 50,000, 55,000 new employees. that is how i started many years ago. the one thing about this holiday that is unique, there is a very late thanksgiving this year. you have to go back to 2000 two when we had such a late thanksgiving. what that really does is squeeze down the time period that consumers have to do their holiday shopping. so that is going to create a little bit of a crunch. that is why we're seeing record numbers. as you said, 34 million on our highest day. also cyber monday will be up to probably 32 million packages. so we'll be very busy this year
1:41 pm
making sure all the christmas gifts get delivered. >> kurt, i promised we would end on positive note and i know ups will deliver them on time. all the best to you. >> great, thanks, adam. lori: 55,000 new jobs created? adam: seasonal. they do this every year. bring in seasonal employees. lori: i understand that. even for that short period of time, that is a huge number of jobs. adam: it's a huge number. amazon had a huge number like that as well. they're ramping up for a big season. lori: we'll see how that translates into the government data. hopefully will be a nice shot in the arm. not optimal at this point. that is the words health and human secretary's head, kathleen sebelius is viewing the website and calls for her to resign. adam: we have more about the -- [ male announcer ] need help keeping your digestive balance in sync?
1:42 pm
try align. it's the number one ge recommended probiotic that helps maintain digestive balance. ♪ stay in the groove with align.
1:43 pm
>> lori: here's your fox business brief. uncle sam is fining united airlines. the transportation department flagging the carrier with more than one million dollars in fines for strapping passengers last year in chicago. flyers on 13 planes were grounded more than three hours in weather-related delays. the department says it is the biggest fine against an airline since 2010. shares of zynga rallying after the social gaming company's third quarter loss narrowed from last year.
1:44 pm
zynga reported an adjusted loss of two cents a share, slightly better than expected. revenue plunged to nearly $306 million but that still topped expectations. u.s. government shutdown weighed on consumer confidence this month. university of michigan consumer sentiment index fell to 73.2 in october, the lowest level since the end of last year and below expectations of the that is the latest from the fox business network, giving you the power to prosper.
1:45 pm
adam: following the latest developments in the detroit bankruptcy hearing. the city's emergency manager, kevyn orr as well as the city's police chief, james craig are scheduled to testify today. the judge is allowing investment banker ken buckfire, a key consultant working on detroit's finances to testify overruling strong objections from the opposition which argued he is quote, offering too much opinion. the ruling of this trial said to wrap up any day now.
1:46 pm
it will determine whether detroit can clean up its finances through the bankruptcy process. lori: markets are holding up here. let's check the markets in detail with nicole on the floor of the new york stock exchange. cliffs's natural resource, among the big winners. >> we're talking about two names, cliffs natural and also barrick gold. now you do see it as a big winner today. don't get fooled, it is a loser this year. we're talking about some changing at the helm. what cliffs natural plans to do he came on as a chief operating officer is actually in line to become the next ceo. so that is what he's doing. he is taking over the ceo role. he comes over from barrick gold. this will all occur here november 18th is what we're watching. in the meantime to take the transition from the current ceo who is stepping down. you will have a non-executive chairman to carry them through. both stocks are down year-to-date. barrick gold, 42% lower.
1:47 pm
cliffs natural 35% lower. lori: thanks for the stories, nicole. health and human services secretary kathleen sebelius deep in the heart of texas to try to put a good face on obamacare. rich edson live from washington d.c. with his good face, rich. >> thank you. the administration is giving details about healthcare.gov. said it should run smoothly for most applicants by the end of november. that is what the government official charged in fixing online exchange mess. jeffrey zeints, soon to be head of the national economic counsel. they will appoint a new lead contract to coordinate with subcontractors to fix the site. in days following the october 1st launch much fewer than three in 10 applicants successfully enrolled. hhs secretary kathleen sebelius is in texas selling the law and pinned the site's problems in part on house republicans. >> in an ideal world it would have been a lot more testing. we did not have the luxury of
1:48 pm
that with a law that said it is go-time on october 1st and frankly a political atmosphere where the majority party at least in the house was determined to stop this anyway they possibly could, including shutting down the united states government. >> that house majority continues to investigate the messy rollout of the federal health care exchange. house oversight and government reform committee darrell issa is requesting the administration supply documents about the website's cost and construction. sebelius by the way will testify before a different committee next week. back to you. lori: riff, thanks. adam: in bling to make even kim kardashian jealous. lori: i'm possible. adam: it is possible. the nearly 60-carat rock hitting the auction block ahead. details on the pink star diamond. get it before lori make as bid. lori: please, not a chance. head scratcher for auto industry. fewer teens are driving --
1:49 pm
applying for their drains licenses. the ripple effects and what could be to blame for this. ♪ 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. 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
1:50 pm
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.
1:51 pm
1:52 pm
lori: this as the auto industry thought it was in the clear, new research found number of high school seniors with drivers licenses declined from 12% from 85% in '96, to 73% in 2012. with the ripple effects in the auto industries we're joined by car report editor. gary, welcome to you. we can probably figure out the broader economic implications with teen unemployment up 9% in the period. hampering their ability to buy a car but to get a drivers
1:53 pm
license? that is little surprising. what is the behind that. >> these are people that are millenials or whatever come as of millenials. they say it is about technology and everybody spends time on facebook and twitter, playing videogames, they don't want cars anymore. this makes more sense. unemployments is up. drivers in this age group are down. cars are expensive. if you're lent the car by parents. it is expensive. i drove from washington, d.c. to here, $40 in tolls, in tolls. lori: teenagers are probably fine with this. you didn't mention cost of auto insurance. teen driver is higher than someone like you or i. >> hundreds of dollars to get a license in these states, you have to get driverring training which is good but you're talking about thousands of dollars. lori: ford reporting the 17th straight profitable quarter.
1:54 pm
a blowout quarter for automakers, so how is losing the teen business hurting them or long-term. >> long term you need people in to move up in the ranges of cars. they're having a lot of success with that american brands are getting buyers coming from other brands. once that supply wears out there, once you run out of teens to buy cars -- lori: automakers are targeting with their products the younger set because you have the ford focus, right, the top selling car in the world. toyota corolla is kind of fighting with that, saying the corolla sells under different names but we're up there. but small, cheaper cars are being designed to cater or to attract younger buy officers. >> i was driving the new ford fiesta last week. perfect example. starts around 14, $15,000, stylish, great fuel economy. it is affordable but still 14, $15,000. there are only three cars that are less than that. lori: you see a lot of white on the car?
1:55 pm
what do you think behind that trend? ppg, the paint maker, everybody wants white. >> according to ppg, silver was number one. white moving to the top spot. according to ppg has to do with technology. lori: iphone. >> not iphone. everybody is doing white technology. not associated so much with a appliance. associated with a cool appliance. lori: clean looking. gary, appreciate it. adam: a pink diamond straight out of "the pink panther." the 59.6-carat pink diamond is set to go on sale at sotheby's for a price expected to be the world most expensive jewel, expected to get $65 million at auction blowing away about the $46 million diamond in 2010. discovered by diamond mining giant de beers. it is largest pink diamond that the gem logical institute of america ever graded. if you watch south park like a
1:56 pm
curic. lori: if i had the cash to buy it nobody thinks it is real. nobody thinks you're wearing diamond that size and that color. adam: wouldn't you like to have the bling? lori: everybody would think it is fake anyway. adam: twitter execs selling their most anticipated ipo a year. you probably can't get in on the initial offering. would you buy twitter shares after they start trading? tweet us your response. a tech insider to help you decide with tracy byrnes and ashley webster. [ 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.
1:57 pm
ido more with less with right ibuss 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. 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.
1:58 pm
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!
1:59 pm
tracy: good afternoon, i'm tracy byrnes. >> and i'm ashley webster. twitter treat time. twitter execs are out selling their most-anticipated ipo of the year. while you probably can't get in on the initial offering will you buy twitter shares after they start trading? that a big question. tweet us. we'll have a tech insider ahead to help you decide. tracy: janet yellen's nomination to the fed held hostage by
2:00 pm
senator rand paul. we're live inside the beltway with this latest. ashley: giving cars the power they need to succeed? eight cities are teaming up to push the technology. tracy: hope that means they will install plugs somewhere. ashley: that is exactly what they are going to do. tracy: good. our newest friday feature. we begin with the family awarded wine spectator's wine of the year in 2012. that and more. you can't miss this hour of "markets now." that is all ahead. ashley: wine, twitter, you name it. electricity. we got it all. tracy: we got a green dow, up 24 points. top of the hour. time for stocks, nicole petallides on floor of the exchange. nicole what is going on down there? >> first thing i think about is the activity we've seen so far today. we come off the earlier highs. however, still posting gains again. traders know you can't fight the tape and they think momentum continues and they're absolutely right. dow jones industrials are up 24 points right now.
2:01 pm
15,532. the nasdaq is at new highs we haven't seen since the year 2000. 1755 for the s&p. s&p is on track for another record close today. as i was saying, you can't fight the tape. we're looking gains so far this year of the s&p of 23%. you know what that does? that actually now puts it in competition with our last greatest year which was back in 2009 where we saw the s&p gaining 23.5%. hey, let's get to techs that are on fire today looking at both amazon and zynga, both doing so well after their quarterly reports. zynga is up 8%. amazon up 9%. amazon talks about momentum boeing into the holidays as well. back to you. ashley: nicole, thank you very much. talking of tech, with twitter targeting november 6 what promises to be the hottest ipo of the year will you get in? let's face it, most of us can't get in on the ipo but will you buy twitter shares after it begins much trading? tweet us, we flash your responses at bottom of the
2:02 pm
screen. joining with us his take on all this, wedbush securities analyst, michael pachter, joining us by phone. michael, the public offering proposed by twitter, as economical as you argue the 140 character tweets that made it so famous. >> i think they're being very smart in keeping the number of shares they're offering low, 10 to 12% of the outstanding shares. they're being very smart in pricing the deal, proposed pricing range, below the most recent private shares transactions which have been at 27 and $28 earlier this year. so very smart to price it at a point where a lot of people are going to be interested and to keep the supply low, i think they will generate a ton of demand. ashley: so, once it becomes available to those of us who are not on the inside so to speak, would you recommend this stock? >> you know i haven't published yet. i actually published back in april. but i haven't written an innishi
2:03 pm
ages yet on this but aam going to. i can't give you a tip on what i'm going to say. i can tell you that they have done a lot to grow the service. i think they have barely begun to scratch surface of users. i would guess viewers don't use it. most people over 40 don't use it. what is important, very few celebrities, very few people like are out there tweeting and have your loyal fans following you 24/7 and they should be. you should be tweeting every story you are talking about and you should have a million followers. the average of a news anchor is about 15,000 which is pretty sad. i have 36,000 followers and i'm a nobody. no, but eventually if you use it actively, there will be people who are interested in what you have to say. ashley: michael, this growth is actually slowing down when you look at the numbers. >> no, absolutely. that is my point. there are 54,000 verified accounts on twitter.
2:04 pm
those are people that whicher thinks are interesting. i'm telling you out of 7.5 billion people on the planet there is a million interesting people. if all million of those are verified and tweeting all the time, then everybody on the internet is going to have somebody that they're interested in following, you will see explosive growth. they're just not there yet. they haven't even begun to market to the fasts to get people to use it. when was last time you saw a twitter ad telling you should use twitter? ashley: that's a good point. it is all about revenue. what about the strategy for raising money to put all of these, reaches its potential, how do they generate revenue without essentially, pissing the users off, excuse my french. >> they have only three products. they have promoted tweets. that shows up like facebook ads in the news feed. shows up in the middle. it is really not offensive at all. very targeted. they have promoted accounts which is in upper left-hand corner of the screen, and then they have, shoot, promoted trends which is the bottom
2:05 pm
left-hand corner. ashley: right. >> those are places you're looking for interesting things. it is very clear it is promoted just like a google search result will tell you if it has been sponsored. i've been noticing very, very relevant content. if you follow the nra on twitter you might get an ad for smith & wesson and that's okay. if you're an nra member you're okay getting an ad from smith & wesson. if you are the peace and freedom party you don't want that ad. i think they're very, very smart about it. they have a ton of data on us. ashley: let me finish you with this. >> that's okay. ashley: what is to stop someone else coming out doing the same thing being a lot hipper and cooler? >> that was the question i asked them. i asked them how they got started when the first three guys were on there taking pictures of their breakfast and why would anybody follow them? what they have going for them now is critical mass. they have these 54,000 interesting people. i'm one of them. they are going to get the
2:06 pm
million before anybody else does. first move have you ever advantage. facebook has that. go to facebook because that's where all your friends are. you go to twitter because that's where all the interesting people are. ashley: good stuff. i have to work on my number of users. michael pachter, you're not a nobody. thanks for joining us. >> a pleasure. tracy: ashley and i on the other hand total nobodies. come bind -- ashley: three? that is your mother and my mother. tracy: right maybe on occasion, charles payne. maybe he follows us. ashley: once in a while. tracy: we got to talk more about twitter though. how is the little guy get in on ipos like twitter? or perhaps a better question should be should we even bother? let's ask charles payne. he is sitting here. he has way more followers than all of us. >> do the twitter first. i thought michael brought up great things about the pricing of this deal, small float of these deals. there is one ownership class. facebook as two ownership classes. these guys will be in control no
2:07 pm
matter how much. 53% of the came from insiders. on this is like 1%. all of those things tell me it is investor-friendly ipo. ashley: right. >> reminds me of linkedin. linkedin went public at 45. first day-traded closed at 109. been as high as 255 since then. anyone who chased linkedin on first day, even if you paid 100 bucks, if you held it you're doing pretty well. this has a chancer to linked in than facebook. having said that i think it is anomaly. i don't like investors chase ipos, particularly in companies they know nothing about, they have no intention of holding the stock. they panic when they buy it at 30 and two days later it is 28. for the most part, i say, no for individual investors stay away from ipos. this one might be different. tracy: there is fund out there, a few mutual fund out there that invest in ipos. it is hard for little people like us to get the initial shares, right? >> right. tracy: these fund can get them. would you go that route? >> maybe.
2:08 pm
i had the, i had the fund that owned some twitter stock already and we actually sold on the news. we sold at 15 to 16 now. but, even that means they're holding some ipos that may not pop, you know what i mean? i like for people to be involved in the market and do a little bit more work. let a company be public for a little while. have a history of earnings. have a history of meeting expectations. have price discovery. when people talk about the stock market being a roll of the dice, this is more roll of the dice kind of stuff. if you're there and glued to a machine and get in and out, fine. ashley: do you like twitter's model though? do you think viable? >> i do. in fact the point he made about relevant content, listen, i actually have followed a lot of sites where i completely disagree 100% what they're saying but i want to know what they're saying. it is relative. so you might have the peace party following nr. a. i think the -- nra. the upside is really huge. i like the fact they're not
2:09 pm
being very greedy with this. i think they learned something from facebook. ashley: yeah. tracy: charles payne. >> thank you. tracy:@cvpayne,. >> thank you very much. i bet you double my audience. tracy: all right. >> thanks. tracy: government's pushing for tighter control of pain pills. what? play on pharma stocks we'll tell you ahead. ashley: what are you saying? microsoft shares are soaring but there is more talk that it is time to break up the company. we heard it before. we take that question to an analyst straight ahead. tracy: wine with me. the man's life was changed after his vintage was named wine of the year. ashley: as we do every day at this time look how oil is trading. there has been a lot of pressure on oil. as we finish out the trading week, up slightly, 83 cents on the day. 97.93. we'll be right back. when we made our commitment to the gulf, bp had two big goals:
2:10 pm
2:11 pm
help the gulf recover and learn 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. and this pk is the inside of your body. see, the special psyllium fiber in metamucil actually gels. and that gelling hes to lower some cholesterol. metacil. 3 amazing benefits in 1 super fiber.
2:12 pm
i need a newn't investment pn. i need to rethink the core of my portfolio. ishares core etfs are low-cost funds. so you can keep more of what you earn. get started with the new ishares core builder. design a personalized plan that can help you achieve your investment goals. 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. ashley: all right, so earnings watch. microsoft beating the street thanks to the xbox business software and cloud services. a nice parting gift you could say to ceo steve ballmer who is set to leave in the next 10
2:13 pm
months, but, has microsoft overcome what some are calling the death of the pc? let's take that to jeffries analyst, ross mcmilan. thanks for joining us. could you describe this latest earnings report as less bad, if you like? >> yeah, i think that's right. so on the pc side specifically what you're seeing is improvement in enterprise or corporate pcs. so the product screw that microsoft sells in that market actually grew for the second quarter in a row. on consumer side that is still more challenging. that is in decline. it is declining at less curve relative to the expectation. so in aggregate the pc business is getting less worse. ashley: you're grading to stock to a buy, based on what? >> so we up graded the stock about a week ago, really for other reasons away from the windows franchise. and the core reasons we upgraded the stock are really on the
2:14 pm
commercial assets that the company has. this is the office business, which is predominantly again, sold into companies. and also the server and cloud platform. there is really two things related to this. one is that the company is having success in converting some of these traditional products into cloud services. and we think we're in the early stages of that transition and then second the company's actually created a new reporting structure that actually creates much more transparency around these higher value assets so we think we're boeing to see better results from those assets and that i will will be much cleartory the market over coming quarters. ashley: ross, this question comes up frequently, should the company split itself up, maybe splitting off xbox or even perhaps the search part of the company to, i don't know, maybe a yahoo! or a facebook? would that make sense? >> well, i think the option's there. i think with the recent
2:15 pm
reorganization of the company and change in the reporting structure it is actually a little easier to do that now but that's ultimately a decision for, you know, the new ceo whoever he or she may be. ashley: talking of which, does the fact that we know steve ballmer leaving, that uncertainty, does that have any impact on this stock going forward? >> there is no doubt that there is uncertainty until that decision is made. the board is obviously doing a review of external and internal candidate and the indications that we could have a decision as early as the end of this calendar year. so that does create some uncertainty but we think, you know, that the board is going to make a good choice. there is both an operational aspect to this and then a long term technology roadmap aspect to this. but that is really going to be the next catalyst we see for the strong. ashley: one of the front-runners, steven elop, the
2:16 pm
former nokia ceo, microsoft overtook the mobile business of nokia, would he be a good pick? he used to work for microsoft? >> i would put him in, certainly one of the candidates that are in the running. there are many names that have been mentioned and different skillsets apply to different people. you know, i think it is going to be interesting to see how this unfolds. i definitely think the right candidate could have a material impact on the stock price in the future. ashley: very good. thanks so much, ross mack milan, for joining us. we appreciate it. >> thanks. tracy: all right, about time, quarter past the hour. we have to get a check on the markets. nicole petallides on the floor of the new york stock exchange taking a look at some pharmaceutical names, right? the fda announced some changes that could affect the stocks. >> this is really something that has been going on for the last decade but now tighter restrictions are certainly in the path for these drugmakers. the fda is urging for tighter rein on painkillers,
2:17 pm
particularly those that contain the narcotic hydrocodone. hydrocodone they're saying should be controlled as closely as some of the powerful painkillers such as oxycontin. the new rules, regulation was reduce by half, to 90 days, a supply of the drug the patient actually could get. in addition to that it would be very stringent on people that they have to bring in the prescription, rather than having the doctor call it in. of course you know prescription drugs account for about 3/4 of all overdosed deaths here in the united states. back to you. tracy: scary stuff. nicole, thank you. see you in 15 minutes. remindtory join us mopped 6:00 and 9:00 p.m. eastern for "the willis report." gerri will take your calls live on obamacare. call in. the number son the screen. for our sear sear cirrus 113 listeners.
2:18 pm
ashley: lots of call. tracy: you can learn a lot from our next guest. we'll go one-on-one with a female entrepreneur who won people's choice for her site and marketing advertising award for her innovation. ashley: dennis kneale with more on his one-on-one interview with someone never shy, billionaire mark cuban. stay with us. [ woman ] if you have the audacity to believe your financial advisor should focus on your long-term goals, not their short-term agenda. [ woman ] if you have the nerve to believe that cookie cutters should be for cookies, not your investment strategy. if you believe in the sheer brilliance of a simple explanation. [ male announcer ] join the 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.
2:19 pm
[ male announcer ] at edward jones, 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,
2:20 pm
axiron. 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.
2:21 pm
2:22 pm
>> arthel neville with your fox news minute. developing this hour, a 7.3-magnitude earthquake rocking the coast of japan. the epicenter about 231 miles off of honshu island. officials say there is no widespread tsunami threat following the quake. a colorado judge releasing today the indictment of the long sealed murder of jonbenet ramsey. according to the documents a grand jury voted to indict jonbenet's parents, john and patsy ramsey on two counts each of child abuse resulting in her death but the indictment did not directly accuse the ramseys of killing their 6-year-old daughter. the prosecutor in the case refused to sign the indictment citing insufficient evidence. we go to lighter note now. the world series is all knotted up. the st. louis cardinals taking game 2 of the series last.
2:23 pm
>> in boston 4-2. because of two costly red sox errors. the bosox and cards get the night off before tomorrow's game 3 in st. louis. you can catch all the action on fox. first pitch at:07 p.m. eastern. those are your headlines. get you back to tracy. tracy: you know, it is, we're so new york centric, i didn't even know there was a world series going on out there. >> i have to admit, trace, throw you under the bus, i'm all into it about boston, boston strong, baby i'm sorry. tracy: good for you. someone has to represent. >> i gotcha. tracy: what? there is still playing baseball? i bet they're playing hock kirks huh, josh? >> future of american business, on line wine community won people's choice and award for best marketing in advertising at the impact showcase awards last night. the event recognizes top entrepreneurs under the age of 35. let's not even go there. we have founder and ceo, alyssa
2:24 pm
rapp. i'm so glad you're here. i love you got the awards. tell us what the impact showcase was. >> tracy, always great to be back. the impact showcase shows face of all entrepreneurs around the country. they bought us all together for quote-unquote award ceremony at the u.n. which was a thrill. tracy: shibani joshi a friend of fox. naked pizza, we had them here as well. these are big-time companies. you got people's choice. >> a big honor. my team gets entire credit. rallied facebook troops to like us. that is how we won the award and other category was surprise and award. tracy: bottle notes. send out a newsletter. call it the match.com for wine community. how so. >> we have email marketing and email newsletters through interactive events through social media. we're really matching consumers who love wine to wine brands. tracy: you're matching advertisers? this is future now. we were talking about twitter.
2:25 pm
how do you make money on this thing. it is all about advertising getting out there. there are a lot of people home thinking about how they have a brilliant idea. what do you do? >> follow your passion. something you think about at night, problem you want to solve. content is king. i'm a big believer in content-based businesses. you have to deliver the content in compelling way the your target audience wants to hear it. we go to interactive events and social media and mobile in the future. you as entrepeneur have to feel unrelenting passion for the sector. tough find a problem and solve it compellingly. tracy: as entrepreneur and female opt on and new mom, how do you do this? how do you jug gell all this. >> we were talking about before, tracy, there is some flexibility in entrepreneurship. you can create your own hours and create your own day. better if you needless sleep and working with people equally vision driven, mission driven and you're all working together if that means you're on line midnight to 2:00 a.m. and
2:26 pm
they're not know you bet back to them as soon as you can. tracy: i read something, women have higher innovation level to men. that is no slap on men. often times sitting at the sand backs and your kids got snot all over you, dear god there has to be something better to do. i wonder if it forces women sometimes to be a little more creative. >> i have a woman cofounder. we're dominated by women in our office. we find the creative energy for sure at bottle notes. this notion of passion driven and great at multitasking are key to entrepreneurship and key to why women are great entrepreneurs. >> you are one of many young female entrepreneurs. >> thanks so much for having me. tracy: ceo of bottlenose, thank you. ashley: all right. interesting stuff. congratulations by the way. good story. janet yellen's nomination, also by the fed held hostage it appears by senator rand paul. at least it could be. we're live inside the beltway next with the very latest. tracy: help from your smart phones.
2:27 pm
keep the kids safe while trick-or-treating this halloween. i love this. this is ahead in your tech minute. don't go anywhere.
2:28 pm
2:29 pm
2:30 pm
tracy: welcome back. we are taking a look at your dow 30 right now. pharmaceutical stocks kind of down on the news about painkillers. nicole petallides down at the new york stock exchange. we are talking about boeing and lockheed martin. nicole: both are actually hitting new highs. boeing and lockheed martins are
2:31 pm
teaming up. this is for a big deal. it is a new program from the pentagon. $550 billion program. you do have boeing and lockheed martin teaming up for this one. ashley: thank you very much. janet yellen's nomination for bed chair is on hold. peter: senator paul big critic of the fed. he is considering putting a hold on yellin's nomination. he said in a statement today, "
2:32 pm
as part of my consideration, i wrote request a -- the american people deserve transparency from the federal reserve and the federal government as a whole." her critics are right behind her. a conservative group opposes the easy money policies as inflationary. two weeks ago, the group launched a website that includes a video and online petition. the group plans to go up and bobby senators to vote against yellen and they think they have a shot. >> opposition to the federal reserve nomination is really a new thing. i think it is a new thing
2:33 pm
because they have made themselves so politicized by trying to intervene in the economy in such a major way. peter: yellen's allies are rushing to her defense. throughout her career, she has shown a deep concern about inflation when ever it was a genuine possibility. the nomination paperwork has set ashley: all ri sent. we will see what happens next. jeff: do you hear what i hear?
2:34 pm
every time we release the durable goods numbers now, we will hear harp music. they make more than 1000 harps a year. yes, that is where the music is coming from. take a look at the durable goods numbers. up about double what economists thought. the core durable goods not as hot as you may have thought. we would love to watch this on fox business. >> she is carefully layering the blues down and placing the gold leaf on.
2:35 pm
she uses that to get a little static electricity to get off to pick up the gold. jeff: and interesting company. what are we seeing right there, by the way? >> she is using a polished agate stone. jeff: harps are a durable good. lasting at least three years. these harps last at least 100 years, maybe even longer. ♪ tracy: this is fabulous. so much information about so many things. you are the greatest. jeff flock. i love it. jeff: not sure what that means.
2:36 pm
[laughter] ashley: where is my harp? adopting measures to make it easier for consumers to own electric cars. that would include creating charging stations, simplifying rules for restoring charges and changing building codes. achieving sales of 3.3 million. promises promises after google's vow to keep the site clean. it is now testing banner ads on its search results page. google is up over 50% in the last year. today, not so much. no tricks this halloween. a trick or treat app that can
2:37 pm
track your kids. it uses each phone's gps capabilities to monitor locations. parents can set an acceptable range. the app also has a handy dandy flashlight feature. probably not a bad idea. tracy: i love the where is my parent app part of it. all right. how about this? whine of the year for 2012. he is next on our friday feature. ashley: will ups continue to deliver?
2:38 pm
shares higher. stay with us. ♪ ness: do more with less with less energy. hp is helping ups do just that. 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. try align. it's the number one ge recommended probiotic that helps maintain digestive balance. ♪
2:39 pm
stay in the groove with align. ♪ 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 am david asman with your fox business brief. it will be running properly by late next month.
2:40 pm
he urges people to continue to sign up. healthcare.gov will work smoothly by the end of november. it will take a lot of work and there are a lot of problems that must be addressed. the judge overruled objections by lawyers. joining us on after the bell, 4:00 p.m. eastern right here on fox business -- that is the latest from fox business. giving you the power to prosper. ♪
2:41 pm
tracy: the call of goes every week. i am thrilled that we are finally bringing it to air.
2:42 pm
we are all waiting on pins and needles for the 2013 list. i think it comes out any day now. what does this do? you are not only on the list, you want. >> i got the phone call. literally, my phone almost blew up. [laughter] people have been buying our fine wine for years. we were totally surprised. it was a great honor. it is exciting. we were selling the 2009 vintage of relentless. it sold out in one week. no dow about it.
2:43 pm
tracy: is the goal to get an award like that? >> i have gotten plenty of rotten reviews. our goal is to make good wines that taste good every year. the best thing is to be in the restaurant with my wife having dinner and there is another couple having a bottle of our wine. tracy: the background of your story is huge. your father said he was done being a businessperson. time to go make wine. just like that. you are trying to really bring technology and innovation to the vineyards. >> that is the changes. tracy: was it by choice?
2:44 pm
>> choice. the right thing to do. you save a lot of money every year. the goal is to make good grades which makes good wine. we are using less water than we used to. tracy: you are getting clobbered tax wise from your fine state. you are not like silicon valley. you can't get up and move. >> we do not sell all of our wine in california. by the way, where we are located is a terrific place.
2:45 pm
tracy: congratulations to you and your family. >> thank you, tracy. ashley: coming up on quarter past the hour. going down to the new york stock exchange. jonathan, we got the consumer sentiment number that was the lowest this year. we will get another weekly gain on the markets. >> we are. we are exactly where we should be at this point. heading into next week, we have a full slate on the economic calendar. burning season will continue to roll through. apple after the bell on monday.
2:46 pm
it will be pretty significant to see some of the numbers that they post their. ashley: what is your take, jonathan, from the earnings so far? >> it is a combination. you have to look at the forecast moving forward. as we started earning season, the government was shut down. exposure to europe, exposure to china. very important in earnings reports. ashley: thank you very much. have a great weekend. dave brown hitting a 52 week high. adam shapiro spoke with the company's ceo. >> they are talking about some very big positives.
2:47 pm
ups is counting on e-commerce sales. last year it was 28 million. they are very optimistic about that. >> we had to go back to 2002 when we had such a late thanksgiving. it squeezes down the time. that consumers have to do their shopping. it creates a little bit of a crunch. cyber monday will be up to probably 32 million packages. we will be busy this year.
2:48 pm
tracy: you end up paying more for shipping than the actual product. ashley: you are not alone. >> the one problem for ups, you just alluded to it, revenue. ups was slightly off. down 1.1%. asia is five. asia is such a big player in all of this. ashley: 34 million packages they are estimating on december 16. 28 million the year before. that is a huge jump.
2:49 pm
>> you see the big e-commerce numbers jumping up. amazon.com, e-commerce is just ramping up. tracy: i get a little tingle when the ups truck shows up. i love it. ashley: i am sure that you do. >> get her out of this segment quick. save her. tracy: billionaire mark cuban has been cleared of insider trading charges. he had quite a little one-on-one with dennis kneale. ashley: some winners and losers on the nasdaq. not a bad day.
2:50 pm
we will talk about amazon.com. we will be right back. ♪ when we made our commitment to the gulf, bp had two big goals: help the gulf recover and learn 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.
2:51 pm
our commitment has never been stronger.
2:52 pm
2:53 pm
tracy: this is why you watch the fox business network. we had on mark cuban. he spoke with our very own dennis kneale. dennis: be gracious in the feed and insufferable and victory. the government spent five years prosecuting mark cuban. a jury took less than five hours to find him not guilty.
2:54 pm
>> i think that there are certain individuals. that happens at the top. they are not looking to have an impact on consumer confidence. i try not to generalize about the government or an entire agency. dennis: he also says he has no idea if insider trading is as rampant as they perceive. cuban hinting he would do it all over again. tracy: he also said he would
2:55 pm
never go near that company again. dennis: you search for that name, nothing happens. i cannot find any information on the stock or where it went afterwards. why did you even bother making the trade? it is a borrowing error. tracy: i am glad this happened to me. he can afford to fight back. dennis: that is what they bet on. that is when companies, if they are not careful, they give in to extortion. tracy: we could talk about this all day. ashley: calling out a chinese
2:56 pm
mobile security company. in just a minute, we will be talking to the founder and director of research. interesting stuff. you do not want to miss it. coming right up. ♪ [ male announcer ] imagine this cute blob is metamucil.
2:57 pm
2:58 pm
and this park is the inside of your body. see, the special psyllium fir in metamucil actually gels to trap some carbs to help maintain healthy blood sugar levels. metamucil. 3 amazing benefits in 1 super fiber. became big business overnight? ♪ like, really big... then expanded? ♪
2:59 pm
or their new product tanked? ♪ or not? what if they embrace new technology instead? ♪ imagine a company's future with the future of trading. company profile. a research tool on thinkorswim. from td ameritrade. ♪ liz: good afternoon, everyone. i am liz claman. it is the last hour of trading. the major industries are higher. you see a couple of points above. what is leading the dow jones industrials higher?
3:00 pm
microsoft reporting strong earnings after the bell yesterday. rising nearly 6%. not bad. we moved to at&t. if you are watching after the bell yesterday, amazon is doing very well. they beat analyst expectations on revenue. it is moving higher. $362.40. it has traded off a bit. off a healthy percentage point there. boeing flying to a new high. let's get to nicole petallides on the floor of the new york

200 Views

info Stream Only

Uploaded by TV Archive on