tv Markets Now FOX Business January 7, 2014 11:00am-1:01pm EST
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freeze, epic fail for film director michael bay on stage at the start of the consumer electronics show. sick of all the nasty germs on your smartphone or tablet? i now have an answer. stephen cohen in the spotlight of a piece on insider trading including his deposition and what he knows about rules about insider trading. we will have a hot debate on that very subject this hour of "markets now." connell: all right, like you said, a lot of good stuff coming up, this will be a good show. give me a second, is going to say from all of us to all of you, happy birthday to dagen. who starts a happy birthday to themselves on their own show? starts clapping. more festivities for dagen
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planned. and from vegas to the consumer electronics show in a few moments, but. dagen: you cannot even call it a meltdown. it was like a major brain fort for michael bay, director behind "transformers" last night. he was helping promote a new curved television set. this is what happened or didn't happen. >> what i tried to do as a director, the type is all off, sorry, but i will bring this. >> tell us about it. >> we will bring it. i try to take people on an emotional ride. >> the curve, how do you think it is going to impact how viewers experience your movies? >> excuse me, i'm sorry, i'm
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sorry. >> okay. ladies and gentlemen, let's thank michael bay for joining us. connell: they would take what i'm about to read out of the prompter and see if i could keep doing it. they post taps are excited to talk i skipped over executive vp infoline at the teleprompter got lost at it went up and down, and then i walked off, which we all saw. well. dagen: that is really bizarre he did that. we have all kind of experience that. it is the brady bunch episode where she goes on the tv show and the red light goes on and she can't speak, that is essentially what happened to him. i don't care the teleprompter goes down, the room could be on fire, liz claman is going to deliver it, coming up later this hour from ces. anyways, she is coming up later this hour.
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connell: she did, indeed. freezing temperatures forcing thousands of flight cancellations again today, leaving many people stranded at airports around the country. dagen: adam shapiro, we sent him to deliver the very latest area did adam. >> if you can believe getting back to normal includes flight cancellations, things are getting back to normal, at least at laguardia nationwide. 2100 flights which are cancelled today, that number is growing. several delays including laguardia. 1400 delays right now, that number is growing. yesterday 4100 flights cancelled, a thousand 11 delays nationwide, and of course there was the jetblue situation canceling roughly 300 homes and flights to boston. many flights out of jfk and laguardia, but now as of
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10:00 a.m. this morning, jetblue is getting back into the business and they assure their flyers by 3:00 p.m., 100% of their flights will be back and operational. so the big areas getting hit hardest by the freezing temperatures obviously the midwest, chicago, flights here in the guardia cancelled to milwaukee, minneapolis where temperatures and the windchill are in the minus 20s and detroit being hit. connell: thank you very much. fun times. dagen: making sure the airplane does not turn into a nice block in the air or on the runway. nicole petallides following these deicing stocks. nicole: it is all about deicing. some of the companies that go along with it, dow chemical and dupont. one of the few that has the down arrow today. dow chemical down fractionally hoas well.
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one of the largest producers of this for the deicing airplanes and dupont leader in this space. look at the charts of these two companies comparison over 52 weeks. a look over the one year. the big picture as i noted, about 27 names with up arrows and just a few with down arrows including dupont and travelers. connell: everybody seems to be talking about theeweather today, happy birthday to dagen. you're on tv, look up. the deep freeze gripping the majority of the country today. if you want to look at numbers, take out below in chicago. negative 60 degrees in chicago. -16. we're joined from state college pennsylvania. colder than the south pole. chief meteorologist good there you are.
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i've experienced enough to report on the weather from inside as opposed to outside today because it is just that cold. if you want to start it off, tell us why this is happening, this whole polar vortex which of amazing to be talking about. it is amazingly bring up something that has happened so many times before. the deicing company at a worldwide one. he is smiling because the fact we have this cold, winter forecast. the reason is because of what is going on in the pacific initially a very warm patch of water in the northern pacific unlike last year with very cold water in the northeast. when that happens you generally get a slow starting winter in the united states because the colder water influences the upper air patterns so you put a trough in th the west and it is warm in the east did this year
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it was opposite, so we caught that, and the problem you have the rest of the winter is the warm atlantic ocean combined with these other factors werelkm believe it or not some of the solar cycles indicates they may have a late winter and spring much like last year. if you remember what happened last year in the middle of january winter turned on a dime in february, march, april, kept going and going, drove the price of natural gas through the roof which it has already gone through relatively speaking this year. so there were factors that were foreseeable, and the way we do that is w to simply look at what happened before and match it up with what is going on now. that is one of the ways to do it. that is why i get a kick out of all of this bid nine, 10 days ago i posted this thing was coming down as plain as the nose on my face. connell: it is always funny interviewing you because we can see you getting visibly angry
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with all of us oh, boy, it is going to be cold today in winter. like you said coaches had you you on last week when you could've told us before the end >> i try to prepare people for these kind of things. this fast eddie about all this is how people some now are blaming global warming for cooling it is like just tell me one thing that could happen that i could say okay, that is not a sign of global warming. this is down in the world they live in. not the world of reality we have to deal with. connell: good to talk to you, sir. we will talk to you again soon. okay. one of the short bets multi week highs with long positions about 173,000 contracts and growing. there you go. dagen: if you are betting against the bond market or think interest rates will go up, you could be in for a rude awakening and big losses.
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chris, because the consensus in rates are going to continue longer-term rates, prices will fall, but if the consensus says that, you're probably better off betting against them. >> everybody knows the rates are going up, right? what we have noticed, every client from the smallest banks and credit unions to the most sophisticated hedge funds are all short. the funds are short against their indices, it is a straight rate that. it paid off in november, paid off in december, they are feeling increasingly confident in that position, but if we get weak data, if we have a surprise going the other way, a short position can get really expensive really fast. i think we could be looking at just a monster short covering rally if there's even just a small move in interest rates. connell: part of it is like the weather discussion we just had
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where you know something's coming but you are not prepared for it. the other side as it could be different, is that what you are predicting, or kind of concerned about? >> it is very much what we are predicting, bullish on bonds in the first half of the year. one of them is history, when the fed exits from quantitative easing, they have done it twice before, this is the third time. we can see it a mile away. so everyone says the race are going to go up, and they do. but they go in before the end of qe, not the end of qe. everybody is short, everybody begins to cover. and you get these explosive rallies. after qe1 and qe2, new lows in bond yields after the fed exited. i think you are going to see something similar this time. dagen: do you think the federal reserve is going to have a difficult time sticking with
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this bond buying program? if the economy is weak, they have to keep it in place. you're going to have people more and more turning their backs on it particularly in washington. >> yes, they lost a great deal of political support. if you look at the senate vote yesterday, ben bernanke only got 70 votes in 2010 to be confirmed, the fewest of any fed chairman of to that point it was 56 votes yesterday. straight party lines, almost vote. and i think it is also evident in the economic community. there's this debate over this great stagnation in the economy and what to do about it. larry summers says we need more government spending, low interest rates, but there is john taylor saying it is actually all the government intervention causing stagnation, it is excessive regulation. to lower interest rates, your discouraging activity and the
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best thing would be for the government to step back. connell: those are widely spread out wings on both sides. good to see you today. thank you for coming in. dagen: thank you. connell: biggest pc firm drafted ashton kutcher to its cause now they want to dominate the mobile industry. talk with bigwigs from vegas, ces 2014. dagen: from the desert to the frozen tundra. the rest of the country in such a deep freeze, temperatures compete with us in north america. more on this nasty weather gripping the nation. connell: sec chief at the center of a frontline piece coming up on insider trading on whether the rules the government has laid out are enough. we ask charlie gasparino coming up for us. stay here.
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certainly important treatments for different elements. it has been on the rise, there it is up 78%, that is a huge move. up over 65%, but when you're looking at this one, this is for a drug about the main goal of producing symptoms in 201 2017 t drug moves forward. working on a blood cancer drug getting a payment in collaboration of $25 million. watch these two names. back to you. dagen: smart phones are going resistant. the new grill a glass csa and fights bacteria. it uses ionic silver which has properties to fight bacteria and can be installed in electronic devices like smart phones, computers and other display panels. the glass is still being tested and no release date has yet been set. jim stein will be joining liz claman from ces tomorrow in
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our hour. connell: we're just getting warmed up in the latest in technology being unveiled in vegas. we will take you to the floor of the consumer electronics show coming up next. dagen: and a documentary that includes our own charlie gasparino. charlie is here to debate that coming up in just a few minutes. take a look at the dollar and how it is holding up against world currencies. [ male announcer ] e new new york is open.
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dagen: the consumer electronics show kicking off in las vegas. we talked about the meltdown of michael bay at the top of the show walking off the stage during samson's presentation of its curved tv. liz claman will get samsung's response to that. connell: not good, for us getting on them for that. but taking up much of the city in las vegas, all over the city
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covering ces today beginning the coverage from the venetian. liz: i want my teleprompter. that is getting so much buzz i fail to see how that is bad for samsung at all. talking to the ceo of samsung america coming up in a couple of hours but yes, we are not even at the floor of the consumer electronics show yet because it is so huge. we wanted to illustrate every hotel has a place all over the place. right now we're in the venetian. every aerial has all kinds of displays. companies are taking over restaurants, just unbelievable how huge this is. on the floor when the doors fly open, you will see 1.9 million square feet, 3300 exhibitors, 300 more than last year. 20,000 products that will be rolled out over a span of 15 miles of carpeted area, don't
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even ask how much wi-fi is flowing through in las vegas right now. possibly the biggest show in years. before the doors opened, the storm of trends started to actually bring some clouds together. we want to put up some of the trends we are hearing. we could begin with the connected car, basically companies turning cars into smart phones. we will be speaking with general motors and audie about that. unbelievable what your car can now do. the internet of things. dishwashers and microwaves and anything you have that is hooked up to your smart phone and you can control it. 3d printing, we have a fox business exclusive, a big keynote here. showing all the things he can make with his printer. he wants them in everybody's house, everybody's classroom and intel unveiled the wearable yesterday.
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they had a live baby. we will have it all for you. we have the president of intel. none of that stuff works, at least most of it doesn't work unless you have a laptop or a phone, therefore it is perfect for us to be kicking off our first interview with the head of the noble america. here with the newly crowned number one pc maker in the world. that is amazing considering you bought your pc business of the discarded business from ibm, and you turned it into this. >> number one in the world, we did that with innovation. liz: you are unveiling new laptops starting with the word yoga. >> this is our yoga 13-inch product. during the christmas season highest selling product from a premium perspective in the united states. a traditional notebook, and a
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tablet he had or want to watch a video on an airplane, we have scan mode as well. we have four different modes of the product. the other product we the thinkpad product, it is a famous iconic brand. this is a great product. your function key changes. i have the ability to have explorer, skype, critical functions, pushing keys and eventually this changes. liz: how much is this? speak around $500. the thinnest, lightest business notebook in the world. it is made out of carbon fiber. the toughest in the world.
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one i personally use as well. liz: the ceo of th lenovo says s is the computer he uses. it is not a surprise to me you are now number one. that must be killing dell and hewlett-packard. >> we are very proud of that. we have really focus on growing our business like we will do with smart phones as well. liz: lenovo sold its mobile business in 2008. you then bought it again back when you realized it would be a huge trend, and you turned your smart phone business number two smartphone maker in china in just five years. >> and number three in the world as well. liz: show us what is so great about these phones. >> it is one of the thinnest, lightest phones in the world and
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we have virtually launched this product. we also have our very first lte phone. five and a half inch screen, thin and light and has the ability from a pricing perspective this will blow away the competition. liz: how much? >> announced yet, but it will be a very aggressive price for samsung and apple. look at the beauty of this screen. a great display. >> it is important to know 85% of your revenue comes from pc, yet the pc industry is shrinking. how are you going to sort of challenge the headwind? >> pc industry is a $200 billion industry. we now it is flat right now, $200 billion is a tremendous amount of capability for earnings and revenue perspective.
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we will continue to grow the pc, but as you said, we ship as many smartphones as we did pc this last quarter. we will have the same game plan we did to be number one in pc as we did in smart phone. it is about scale, innovation, our own factories, suppliers, we will grow the business by having low-cost competitors offerings across the board. liz: can you beat apple? in the cell phone business? >> five years ago nobody thought lenovo could beat anybody from a pc perspective. we are number one now. we can be number one in smart connect devices as well. by our ability to drive scale, we will go up and drive those relationships and the key is we will give them a better price, better features at a better value. liz: are you going to make some sort of acquisition?
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>> we will continue to use acquisitions as a key part of our strategy. i cannot comment on specific targets, what we are number one in brazil right now. we are number one in germany. we are number one in japan. if you look at the strategy three times in a row we have gone to market and we are number one in the market and we will do the same thing as we go forward. liz: i love it. as we finish up, look at this. it does not necessarily qualify as a tablet. the phones are getting bigger. thank you very much. in the next hour, 3d printing. they have the replicator, you guys. they will show was not only the printer, but what can be made on it. home manufacturing, one of the very much talked about trends here at ces. we are going to break down and rush over to the floor of the consumer electronics show.
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that is how we roll at fox business. we will see you in just an hour. back to you guys. dagen: thank you for that. connell: pbs keeping an inside look at steve cohen, the documentary will air tonight. a former attorney coming on. and charlie gasparino wrote the book on the whole thing so they will hash out the details for us, should be interesting. coming up. dagen: president obama and congress are back in town with plenty to do in the new year. i look at the top five things for d.c. for 2014. [ male announcer ] this is the story of the little room over the pizza place on chestnut street the modest first floor bedroom in tallinn, estonia and the southbound bus barreli down i-95.
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♪ this magic moment it is the story of where every great idea begins. and of those who believed they had thpower to do more. dell is honored to be part of some of the world's great stories. that began much the same way ours did in a little dorm room -- 2713. ♪ this magic moment ♪ ♪ this magic moment if ...hey bathing's hard.e... know the feeling? copd includes emphysema and chronic bronchitis. spiriva is a once-daily inhaled copd maintenance treatment that helps open my obstructed airways for a full 24 hours. spiriva helps me breathe easier. spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinatin or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taking spiriva and seek immediate medical help if your breathing suddenly worsens,
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dagen: hi, everybody. love that. big a so far. we were joking about michael bay, stocks rebounded after a three session slide. >> the teleprompter mishap, where is my teleprompter. the dow jones industrials bouncing back at this point. and that is 1%. and trying to read the losses we have seen in 2014, and most of the names on the dow, of verizon, and some pressure paying out today. and rushing netflix with ratings
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cuts, and other alternatives, and amazon prime instant, who. plus. >> pbs frontline putting steve cohen's sac in the spotlight, to catch a trader, there's tonight. >> testimony including his view about the laws over insider trading. listen to this. >> understand the rules on trading and inside information of very big, you are familiar with rule can be 5-1. and the you have to explain it to me. understanding about when in possession of material, public information you are ever allowed to trade. >> that is not the way it is
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explained to me. dagen: charlie gasparino is in this documentary and joins us with sec attorney elizabeth. >> partner in crime is not here. dagen: he will be here too. connell: a night history going on on this very subject. >> it is in my book circle of friends. it is a deposition between a lawyer named mike ballyhoo works for the chasm with law firm and steve cohen of fairfax financial. fairfax financial accused steve cohen of manipulating, not quite insider-trading but went into the insider-trading stuff because he knew of the speculation. i will say this about this testimony. when it got leaked to regulators it took place in 2010-2011. they were aghast because
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regulators themselves, the important people, the lines are pretty clear cut. there's a direct law called insider-trading but it is like pornography when you see it. he should know enough to avoid it. i will point this out. if you take a very strict definition of material, nonpublic information and we can get in this with elizabeth in a minute, most of the most of he does he wouldn't do but if you look for the bakery's you actively look for the vagaries in the la and based on my research into what steve cohen does that is what his business model was, finding the vagaries going up to that line and arbitrage information because you want to get the first call on that information. it is a dangerous game particularly with this government. dagen: you are with us now. if you heard what charlie was
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saying, she is not with as yet. i watched that small clip, seems he is just being:because of the definition. he knows what is illegal. >> he is under oath so you have to be truthful. there is an art to giving the deposition, you try to not answer questions but as someone who's sought this, basically read the transcript and i could have seen a two i didn't have to see it. this deposition was bouncing around but if you read the deposition it is fascinating reading. we have one snippet of it, an interesting fight between billy and steve cohen's lawyer. to we have a full screen of that? belly's lawyer -- dagen: do we have this? can we roll it? >> head of sac?
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>> doesn't matter. >> you take complaints seriously. and you take not trading on inside information seriously. have you ever taken it upon yourself to read the rules? >> i rely on my counsel. >> you haven't read the rules? >> i don't remember. >> i don't think when this deposition leaked it did him any good with regulators. documentary will be tonight. from what i hear i am in error lot there are three people, me and the fbi agent that did the investigating, and carried off, and -- dagen: mostly his drug addiction. he worked at galleon. >> from what i understand there's a lot of us in there. here is the thing. when i was interviewed in the summer, one thing they kept
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asking me was steve cohen has got to be guilty and i would say every fbi, sec regulatory authority of the i know thinks he is guilty. he has got to be guilty. every sec agents -- i kept repeating that and i wonder if they used that clip. it is not that easy to prove. pticurlycrinal when he talksbout vagars irighand wilsayhis. itasn' theyhey uld ve mledhemy n andhey han'totn toim, they have onl gotteopleroun him and e waetenim a ose oplehath a tellg hi theare adin on uld be cotrdifrent wa. theyoulde sang iave highonviionevel 10, thin it 10,oesha make insidinrmatn. conllelizeth re oked. musteching listening to u, t back d rthhe
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dagen: let elizabeth respond. connell: enforcement attorney, she is hooked up. you had a chance to hear charlie. have at it. >> you can tell i heard some of what charlie said. there is a chance steve cohen done know what was going on. the law is vague. and i heard his deposition. just a matter of when. >> you didn't hear me? >> i heard enough. >> if the law wasn't vague he would be in jail by now. >> it is not a matter of the lobbying they. it is a matter of he was smart enough not to say in a recorded line or e-mail this is great inside information. >> or is he smart enough to look for the vagaries in the law? there are a lot of ways -- if
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you tell me, i think this is what we will find out, you have inside information and i am your boss, and i say the conversation isn't like matthew, give me your illegal inside information, more like what is your conviction level on this stock and you say absolutely certain, reminds me of zero dark 30, 99%, don't believe anything less than 100%. but if you -- >> 99% 7. why i you 99%? >> suppose i don't follow up with that question? >> you can claim you did know. >> make it conscious -- >> you can't go. >> conscience avoidance is illegal but why aren't they
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making that case? i am telling you they want to make a case against this guy. everybody believes he is guilty. they want more -- they still believe he is guilty. they haven't made the case. the reason they haven't made the case -- maybe it will. >> when steinberg gets sentenced it will be a very scary day for steve coin. no matter how many they can pull into rollover. >> if it was that easy they would have gotten them by now. connell: by the time we go we will have the back done. >> they la is vague. connell: we will watch charlie on the front lines and thank you. hands up in the air. dagen: trying to give you the last word, never works out that way. you got the last word. thank you. coming of this is not a video from the south pole. a lot closer than you think.
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connell: congress back in session. coming up on fox business. how i? there's nothing like being your own boss! and my customers are really liking your flat rate shipping. fedex one rate. really makes my life easier. maybe a promotion is in order. good news. i got a new title. and a raise? management couldn't make that happen. [ male announcer ] introducing fedex one rate. simple, flat rate shipping with the reliability of fedex.
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the smallest since october of 2009, the estimate was $40 billion the good news on the economy. jpmorgan chase will pay record $1.7 billion settlement to the victims of bernie madoff's massive fraud. the deal resolve allegations and provides warnings about bernie madoff's ponzi scheme, criminal charges against the bank for two years. goodyear tire held hostage for 24 hours despite northern france being freed by police. and more severance pay shut the factory last january. that is the latest from the fox business network giving you the power to prosper. ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor...
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[ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all on thinkorswim from td ameritrade. ♪ open to innovation. open to ambition. open to boldids. that's why n york has a new plan -- dozens of tax free zones all across the state. move here, expand here, or start a new business here and pay no taxes for ten years... we're new york. if there's somethg that creates more jobs, and ows more businesses... we're open to it. start a tax-free business at startup-ny.com. the that congress and the president starting work on a fresh year. will lead be as contentious as the last. dan clifton is head of policy
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research and is joining us with a look ahead. will they make nice to the right and left? >> don't know about that. and play politics on the floor today about unemployment insurance extension. and over the last five years in the financial crisis and have an incentive to get to the election in 2014. policy is going to normalize where they will not be engaging in large budget fights, starting to see the fiscal drag, so it will be a lot more of the normalization period in 2014 than in the years before that. dagen: you mention what is going on with extended unemployment insurance on the floor of the senate. what about the increased focus on problems on lower income
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americans, would that be a hot-button issue for the democrats? >> it will be. democrats typeface in two problems. the first in office for six years and of sluggish recovery, the first four years you can blame bush but you can't do that this time. income inequality will be the issue they strike and this allows them to distract problems on the affordable care act and they are really playing into the fears of voters. class warfare never worked in america as a political strategy but some americans worry about their ability to rise up and whether the american dream is real and they will take into that in the 2014 election. unemployment insurance is the first step, large fight over the minimum wage and raising taxes on wealthy and corporations later in the summer. dagen: how can we expect democrats to fair given history in the midterm election? >> that is the exact question because the third theme for the% years this is a six year itch midterm election.
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what we mean by that is most presidents like barack obama get wiped out meaning their party loses the seats, only one president survive and that was bill clinton in 1998 because the republicans overreached on impeachment. democrats know they're going against history. the average number of seats up president loses his six senate seats, the amount republicans need to take over and wide area trying to get on the offensive against the republicans. dagen: so much more to talk about, please come back soon. we got to hustle one out of here. connell: day ii of the big freeze and in big cities the one getting hit hardest, chicago. dagen: so from fox news, there is coming up. chicago, it is cold. we will be right back.
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stuart: kindersley low temperatures. connell: chilling wind especially in the midwest and here in the northeast. dagen: fox news, in chicago is colder than the south pole. >> it definitely feels colder than the south pole. what at the chicago river, pretty cool site, a rising over the water, how cold the air is here, and things warming up across the midwest by 10 degrees, still dangerously cold. st. paul, minn. region hospital reporting a record number of
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frostbite cases, total of 19 storm related deaths so far all across the midwest in travel and it is still causing nightmares across the midwest, airports and on roads, american airlines at o'hare airport, it was so cold that the fuel and deicing liquids froze over, a thousand flights canceled so far today and it is going to continue throughout the day at these temperatures continue. connell: thanks, it is freezing in chicago. dagen: you will get frostbite on your face under those conditions and to of your nose if it is not covered. in the next hour of markets now more on the cold weather frustration mounting as thousands of flights canceled leaving travelers stranded all over the country. connell: consumer electronics show, liz claman talking to the ceo of big business of 3d printing coming up. don't go away. it can help provide the power for all th
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>> so frustrating when you call the 800 line they hang up on you because you cannot wait for a person and have to physically come down. we waited on the phone and he said if your flight is canceled like it has been a last three night the next flight is not until january 11th. dagen: those women two of the thousands dealing with delays, cancellationss and uncertainty. i am cheryl casone with dennis kneale taking you through the next hour of markets now. 187 million people, more and half of the nation's population feeling the effect of the polar for text, the airline sector in focus during this hour and the north and middle parts of the nation deal with a brutal subzero temperatures we will heat things up in las vegas, consumers electronics show is under way and liz claman just
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talked to china's number one pcmaker, she talks to the company at the forefront of 3d printing. all this and more in the next hour of markets now. ♪ dennis: triple digit rise in the dow. shekel enough for you? good lord. top of the hour. stocks every 15 minutes, nicole petallides standing by at the stock exchange, stocks are rebounding on the fourth trading day of 2014. >> the fear index gauging fear and volatility in the market, very low level below 13 some of the we are waiting for the losses we have incurred over the last several days, the dow and the nasdaq have been down one full percentage point and the race some of that, the dow was up 110 points gaining 1/2% at 16,534, the nasdaq up and the s&p at 1836, a gain of 1/2%
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alamosa names from sector to sector have a parrot is whether it is drug stocks, retail stocks, t. jpmorgan aside because they have a big payout but jpmorgan a little agra but most have a up arrows, the dow has been stronger and gold pulling back by $13 so that is what he are seeing as far as the trend, a lot of names on highs including health care, united technologies' new health care as well. cheryl: see you in a little bit. dennis: wild weather indeed, some 0 temperatures blanketing the midwest, strong grip on the northeast with wind chills well below zero, meteorologist janice dean has the better for cold forecast from the weath center. >> we set dozens of records to take a look at the record lows we have, detroit-14, these are actual air temperatures-9 in pittsburgh, n.y. citizen apart,
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4 degrees, atlanta 6 degrees in austin, texas, 14, the coldest air we have seen in decades and we are still feeling in across the northeast toward the mid-atlantic and even the southeast but there's a warm-up on the way. that is the good news, pretty short-lived but looking at your forecast, windchill, going to be around single digits below zero for the rest of today into the overnight across all these big cities and down the i-95 corridor. be extra careful and lake effect snow as that cold air comes across the relatively warm lakes we could see one to 3 feet, the popular great lakes and just to give you a silver lining in all of this, 14 today, saturday 56 degrees and into the 50s next week so we just have to get through the next couple days and we will all be in shorts walking through central park. dennis: hope springs the
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eternal. thanks very much. cheryl: record low temperatures wreaking havoc on travel across the country we are watching the numbers for you as one hour ago near the 2,000 flights have been delayed today and more than that have been cancelled and major airlines like jetblue getting more in the air but my next guest says it is going to be a mess for thousands of backlogs passengers waiting to fly from days ago. george hamlin is here, you work as a consultant with airlines' but the conditions we are hearing about for these consumers, airplane doors frozen, passengers can't get out of flight crews connolly indoor tracks for 15 minutes. they frankly have not had to deal with this in 20 years. >> the high load factors the industry experienced in recent years only make things more difficult. cheryl: let's talk about
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specific conditions in particular fuel that has been freezing, and deicing fluid has been freezing. we are hearing this winter will be one of the most brutal winters on record so can the airline have capacity to handle that and what is the cost going to be? >> certainly not the excess spare capacity to handle major disruption. again when the planes are fairly full if you have a disruption and flights are canceled, one of my son's business colleagues was told, make his flight back, he would be able to get out until wednesday. it got worse than that even after the flight he was booked called this airline's reservation department, said they couldn't change his flight because he needed to pay off higher fare. cheryl: consumers are frustrated but with regard to the airlines we are in a new regulatory environment with u.s. airlines because three years ago you had
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passengers stranded on the tarmac for ten hours running out of food, toilets and all that good stuff, basically now the airlines are afraid to really take the chance and go on to the tarmac in these conditions, would rather canceled flight. is that what you are saying in the industry? >> that is a widespread belief. and the specific airlines, companies like jetblue who are very proactive yesterday and decided to cancel flights ahead of time, new york, la guardia, boston closed down but southwest, american eagle, those are the company's getting hit the worst today, this is more of a national problem. are these the carrier's that will have force of an impact operationally so bigger guys like delta united, american who are used to this stuff? >> it is mostly situational
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based on location than the actual weather. this hit everybody. you talked earlier about people being allowed to be on the ramp for brief periods of time. doesn't matter if you are a giant or medium-sized carrier, it will be very difficult. i think it is going to be very situational and local. cheryl: a rally -- rough couple days for the airlines. we have a plane skidded off of the runway, crashed in aspen, that happened over the weekend and like dennis was saying during the commercial break stories of plane doors being shut, passengers not able to get out of the plane because the door is frozen. what do you make of what is happening with the industry? >>ad sden chang tempeturise,ike ythi el whe youave cris li th pplgeto be got findg sotion to butou got toet up to speed. cheryl: you are not a financial analyst and we have been talking
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to some that are and one thing we have seen with major airlines and their stocks is they were hitting 52 week highs. the reason is the oil -- if you ask this question, getting a break on oil, planes they don't fly, they don't earn jet fuel at the same time they have to deal with the operational costs of what is happening. in all your years of consulting and the industry do you think the operational costs will be higher than they have been in years past? >> you got to look at this if this goes on for a day or two that is less than 1% of the year. have a huge impact.ay or may not the other thing is there are costs, you will pay the crews whether they fly the airplanes or not. they are going to get their minimum monthly guarantees in all cases. if this persisted for months you might see layoffs but not that this is something by the weekend that will be considerably warmer. cheryl: i will be wearing shorts in the park this weekend.
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thank you very much, we appreciate it. dennis: new round of earnings thursday but will corporate profits take a major hit in the year ahead due to fed tapering. joining us is the president and chief investment officer, warning about their latest quarters, could fed a green make things worse? >> i don't think so. that is a convenient excuse for corporatioos right now. tapering hasn't really started yet. it will happen in january and the fit is due to meet eight times the year. if you keep on the current pace of reducing bond buying by $10 billion a month that will take the mall way through the end of 2014. i wouldn't anticipate capering or more importantly bond sales or raising the fed funds rate to start until 2015 sell it is an indication that there is -- it is going to last much longer.
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dennis: you are not dotting the impact fed capering and having corporate earnings, the timing, don't worry about the timing, it will be later rather than earlier. for us and informs types please explain to me out, makes aluminum. the fed buys 85 and jan. goes to $75 billion a month in mortgage bonds and treasury bonds. what does one thing have to do with the other? how come it turning that dependent on whether the fed buys $50 billion or $80 billion in bonds? >> what it does have an affect on is the ability of the housing industry, if they go up they will have an increase on the bottom line and their ability to buy more aluminum themselves and by more homes but it won't have an effect on the short-term. will be long-term. dennis: stock advisers say 2014 for u.s. stocks could be the year of a letdown, how could we go double digits on top of the 30% rise and overseas markets are the place to be stockwise
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but it turned out fed a during which you guys are feeling is hurting earnings won't end up hurting corporate earnings might the u.s. stock market do better than you guys thing? >> if we have a 9% return in a given year they used to be a good year for the stock market, it is not that good year but the more upside potential exists overseas because europe is where we were in 2009 in the beginning stage of their recovery so that have upside potential, the ecb lower their interest rates to be more accommodative and emerging markets which were hit dramatically last year have a lot of upside as the market's improved. dennis: europe relies -- it is that to me, europe's economy nowhere near as robust and creative and able to revive as the u.s. economy. >> this is true but if you look at where we were in 2009, the beginning stage, and it may not be the same magnitude that is
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where europe is and last year it was up 20%. dennis: we didn't have a chance to get your specifics, basically you do say people look for materials, information technology, energy, consumer discretionary which means a lot more bullish on u.s. stocks, thanks for being with us. cheryl: the talk of the technology world, investors and consumers can't get enough of 3d printers, generating a lot of buzz at the international convention in las vegas. coming up, the ceo bennett speaks with liz claman, first on fox business interview. dennis: what is bugging me, will climate change use this cold spell to self year? tell us what you think.
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104 points barely out of session highs. one of the story stocks is jubilant making deicing fluid, companies like dupont and alchemical i names to watch, stock is down but the stories of de-icing chemicals freezing and really quick i want to show you what is in the sector, look at the transportation sector overall, delta, names like fedex will be affected by the storm, southwest airlines, united continental, ups, wide reaching the fact, half of the country dealing with this deepfreeze. stocks every 15 minutes, back to nicole petallides on the floor of the stock exchange. >> one of the reasons they are doing that is not because they don't michael course is a great company, it is evaluation costs. they say it is brought up 50% or so, if you'd growth trend, they
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have obviously been -- with that what is the upside potential? maybe it is time, some of that was on news from other retailers, slower traffic, and as a result they basically cut into neutral from buy, lowering the price target $93 from 95, macy's and coach, the other 2 pulling back. cheryl: see you at the bottom of the hour. dennis: what is bugging me is the bitter cold and wet fear mongering global warming fanatics will do with it. the deep freeze is chilling millions of the sand in some ways it is the release similar to the greenie loving fox film from a decade ago the day after tomorrow. the move the map and today's weather map are strikingly alike if you look at them and again this real nasa image taken yesterday showing the polar for
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tax forming. the embarrassing thing is just two months ago president obama was warning us about the perils of global warming, how high temperatures already are harming public health nationwide. i would give a precious bodyguard for a nice person of global warming right now. i almost froze my face of walking to the subway this morning but you won't your the president and his green machine saying they have a hammer. to them everything looks like a nail even if a big if global warming is a threat. it isn't an immediate crisis. capitalism will find a way to fix it. have no fear. selling fear is what the climate crazies are wont to do so tweet me and weigh in. will climate change fanatics use this cold spell to sell fear? cheryl: call it a case of flying high. one major u.s. airline looking to cash in on colorado's legalize pot business. detail ahead coming up in your west coast minute.
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as we go to break the world's currencies and how they are fairing and analysts say you will see us stronger dollar this year. [ chilen yelling ] [ telephone rings ] [ shirley ] edwa jones. this is shirley eaking. how may i help you? ohey, neill, how areou? how was the trip? [ male announcer ] with nearly 7 million investor.. [ shirle] he's right here. hold on one sec. [ malennouncer ] ...you'd expect us to have a highly skilled cl center. kevin, neill holley's on line one. ok, great. [ male announcer ] and we do. it's how edward jones makes sense of investing. ♪ there's nothing like being your own boss!
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>> 21 minutes past the hour your fox news minute, president obama making remarks on emergency unemployment insurance, this as the senate narrowly voted to advance the bill that would extend unemployment benefits for 1.3 million americans, those benefits expired at the end of last year. this move to a final vote in the senate but even if it does pass it will likely make it through the house. maggiore americans believe pot should be legal according to a new cnn international poll. 55% of those surveyed believe marijuana usage should be legal. a survey trend finds this year is the first time more americans support pot legalization than those who oppose it. and a limb the gold medal winning skill been the vaughn will skip the games because of a knee injury, she tore two ligaments in her right knee and
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a high-speed crash of the world championships last february. she will undergo another operation. those are your headlines. back to dennis and cheryl. dennis: time to make money with charles payne. you might not know the company but you probably have one of its product in your home. charles: may be in voluntarily. we are talking about creed of lading, beginning this year january 1st, '40 watts and 60 watt incandescent doubt blite bulbs have been outlawed, home depot has a bunch of them in the discount been so i would rather up if you could. in the meantime a lot of people in voluntarily have these rights but it is hard to argue they won't end but being extraordinarily great job, the government almost giving them this business about on the other side of this, the company does radiofrequency business and have been a leading-edge business with respect to technological
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advances. that part of the story always bugged me. i have been in and out of the stock about but the other side of the story is it understands you got a gift but don't rest on your laurels, that is one of the things i like. charles: a new kind of lighting, the burning filament hot light bulb has been outlawed but isn't that a play for investors already in the stock? don't they realize it will benefit from the government stepping in? charles: sometimes we realize that with this company they are doing great, the last two times reported earnings of come in line, stock has been extraordinarily volatile and to your point because we have high hopes for it when a come in or give so-so guidance the stock is hammered. with 75 not long ago, now went to 60 but i think 60 is a great support point. i see another test of the 73-75 dairy and eventually it breaks out and ultimately this will be a hundred dollar stock. gross margins went to 39% from
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parity 7 and operating margins exploded 15%. dennis: you use rising margins as the key side be worth looking into. $100 price target. charles: we will be all year long talking about it. dennis: attempt at humor, very little. cheryl: dangerously cold temperatures hitting 24 u.s. states leading some spots colder than siberia and the south pole. the latest numbers we. dennis: that wasn't hyperbole, that was sexually active it. liz claman live at the consumer electronics show going 1-on-1 in an exclusive with the company that shows off its latest and cheapest ever 3d printer. first let's take a look at today's s&p winners. . [ me announcer ] this is the story
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of the dusty basement at 06 35th street the old dining table at 25th and hoffman. ...and the little room above the strip mall f roble avenue. ♪ this magic momt it is the story of where every great idea begins. and of those o believed they had the power to do more. dell is honored to be part of some of the world'great stories. that began much the same w ours did. in a little dorm room -- 2713. ♪ this magic moment ♪
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>> the life-threatening called a covered parts of the midwest now has a hold on the northeast but it is heating up in the west. specifically the consumer electronics show in las vegas. we are minutes away from liz claman's interview with maker bot ceo. and who one the ad war last year? it is the bottom of the hour, stocks every 15 minutes. nicole petallides, you have some movers you are watching right now, nicole. nicole: we sure do. a mover, again a new high. i have to keep crossing out the new high throughout the day. the latest one 11:30 659.
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a couple speaking positively about google. deutsche bank called it a must own stock of 2014. other names were watching, netflix has come under little bit of pressure today, because morgan stanley downgraded from an underweight to an equal weight. other viable alternatives to netflix would be amazon prime instant, hbo go, who plus. not to say netflix isn't great, but just concerns about the alternatives there. tesla with at&t. st. jude getting ratings hitting a new high again on the s&p 500. back to you. cheryl: thank you so much. nicole: thanks. dennis: a deep and bitter freeze gripping most of the nation with temperatures plunging to record lows. fox news rick leventhal in new jersey.
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hard to tell with a hood. >> i took the mask off, but i wish i had it on. negative 12. i don't know how many people would normally be on the street at noon, but there is virtually nobody out here because it is so bitter cold and painful to be outside. some people have to work outside. gas station attendants, police, firefighters. sanitation workers were on the job where in several layers of clothes to keep warm and moving we met up with a fuel delivery guy who has been swamped with calls for the last several days because people need fuel oil to heat their homes, and he has been working virtually nonstop, here's what he told us this morning. >> we have no choice, keeping our customers warm, extreme conditions. we have a lot of senior citizens, so we have to stay out here. summertime it is a good job, right now not such a great job.
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>> he told me his truck was a sanctuary. he would warm up, spend a few minutes filling tanks and jumps right back in there to warm up again. dennis: my admiration for you has only grown. temperatures not just cold in new york, better across the country we had >> record-breaking lows in the midwest, in the northeast, and even down into the south. memphis has a feels like temperature of 3 degrees today, tennessee one of a number of states where they are encouraging power customers to cut back on their usage, we are worried about widespread outages in many parts of the country because people with electric heat are cranking up the heaters, there are tens of thousands of people in fact without power. they closed schools or have late openings. government offices and in places like other parts of the northeast encouraging people to stay indoors unless they have to go out and if you do, you are urged to bundle up, dennis.
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dennis: thank you, rick leventhal. cheryl: the blast of cold air is having an effect on the commodities. our very own phil flynn standing by. it is not performing as i guess i thought it would today. >> you have to remember we saw the market rally 20% into this cold front, so the market priced in some cold, but it is continuing higher. one type of gasoline you don't normally think about with cold temperatures is gasoline, and that is now getting a boost because of the cold temperatures. a couple refineries have been shut down due to cold weather power outages and other issues that are slowing gasoline production. all of a sudden gasoline futures jumping up like it is a natural gas contract. food cost across the board, we are seeing the wheat crop spike cap.
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rallying on concerns the crop that is in the dormancy right now can be impacted and damaged from the cold temperatures. they will not come up in the spring, that can reduce the crop. you have orange juice, cattle prices hitting record highs due to the cold weather that will hit us all in the pocket books when comes to commodities. cheryl: good point. thank you. so one of the hottest trends in 2013 when it comes to sizzling stocks were 3d center companies from 3d systems, x1 and others. you can see how they stocks have outperformed the s&p, which had a great year on their own. no surprise they commit everything from food to toys to body parts.
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in an exclusive interview, the leading evangelist for 3d. liz. liz: here we go, i have my credential in hand. we rushed from the venetian. like a chinese fire drill. now we are back at floor of the consumer electronics show. 150,000 people running in to see what trends are developing. i want to show you something getting a lot of buzz. last year we talk about the smart fork telling you when to stop eating, you took too many bytes. this is of course the happy toothbrush. it is a connected toothbrush, the world's first and there is an app for that. it will tell you if you have brushed your teeth enough. it is an electronic toothbrush and it tells you when to stop because of course in your mind we are not smart enough anymore, we need to be connected. one of the trends developing, 3d printing.
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imagine being able to create a totally unique toy for your child, you could create your very own model on the desk, plastic before your eyes. that was sold out, jampacked, ceo and founder. walk recently by one of the companies we saw you joining us in a fox business exclusive. i have television ceos, smartphone ceos, you unveiled this. >> we had so many announcements yesterday, we launched three new replicator computers. we launched a small and a large one. 1375 for the small one. this is 2899. and we launched a large one. liz: lets talk about what people can do with this. this isn't actually much larger
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than a gigantic laser printer some people have in their hous houses. what does it do? >> you can unleash your creativity, have an idea, make it in no time flat. it builds it layer by layer. this is something an architect would made to show you what your home would look like. it all fits together so you can see the floor plan. this you are looking at a couple hours to make this. if you want a small toy, you have a collectible, under one hour to put that together. liz: like yoda makes one of the squirrels. it is a monkey. how long would it take to print this? >> under an hour. liz: is it liquid? explain how this works. >> the material sits in the back. liz: does this open? >> it actually fits right in
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here. liz: this is 2000? >> $2888. liz: how will you get people to bu >> we have a lot of applications for people to be creative. you can make signs, bracelets, jewelry, easily. and then it is connected, this is a connected machine. we have made it easy and friendly to use. liz: it was purchased, we have the ceo on often. the stock has done beautifully in the past year. you maintain control of the company? >> we're still an independent company, it is a true merger with the stock deal, so the merger means we get to run faster and deliver on our dream of making 3d printers for everyone.
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cheryl: a lot of gigantic printer companies manufactured overseas in asia. you are making these in brooklyn. >> every makerbot is made with a little bit of brooklyn pride. >> my question becomes how do you grow and expand, will you eventually have to start manufacturing overseas? >> there is so much talent in brooklyn. it takes skilled labor to put it together. i am not kidding, this is really something that is lovingly put together. cheryl: here is another toy or subsesomething that could be a prototype. people can call manufactured, correct? >> they make practical things far around the house, the next thing i know is they are entrepreneurs. they start to sell it, they are off to the races. one of the biggest customers nasa, lockheed martin. the use them to accelerate the innovation process.
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liz: you came up with this idea. he always kept the teacher roots. you sign on with president, correct? get them in the classroom. >> we believe every classroom should have one of these to make the things they need in their class. liz: the hot ticket here at ces in a fox business exclusive, they want one in every room, every classroom, every office. it is an interesting thing to check out, the kind of thing you see here at the consumer electronics show. in the next hour, samsung of course you have been watching how michael bay i can't say stormed off, he freaked out and ran off the stage. guess what, he was so overwhelmed by what we were going to show you up close and personal, the curved television.
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samsung electronics american president coming up. live from las vegas. >> 's going to ask about that, i'm looking forward to that interview. thank you, liz. dennis: in today's media minute. ratings. maybe talented isn't the next thing to be wiped out by the internet after all. the senate night premiere of the highbrow yiddish drama and "downtown abby" had their biggest drama debut in its history. up from the premiere a year ago. 3 million almost twitter users were watching putting out 100,000 tweets on the show. fox, cbs, nbc got the highest ratings. the packers was the most-watched game of the week. the biggest wildcard audience ever.
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the top four shows on all of television for the week. transformers movie director michael bay great at blockbusters, but lost without a teleprompter. he walked offstage in the middle of a spiel at the consumer electronics show yesterday after his script glitched. take a listen. >> the curves. how do you think it will impact how viewers experience your movies? >> i'm sorry, i'm sorry for you to >> okay. dennis: the guy that's just it can be little empathy for the public speakers, i said razzing is so much more fun. cheryl: i cannot wait to see the interview in the next hour. she is absolutely going to ask him about it. spirit airlines going to capitalize on the news of the day. details on its version of the mile high club coming up in the "west coast minute."
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dennis: and we are breaking down the best brands and commercials for the past year. remember this one? ♪ ♪ ♪ ♪ [ tires screech ] chewley's finds itself in a sticky situation today after recalling its new gum. [ male announcer ] stick it to the market before you get stuck. get the most extensive charting wherever you are with the mobile trader app from td ameritrade.
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weight loss product. paying $34 million back in refunds for consumers who settle charges with unfounded weight loss claims. former goldman sachs trader has lost their bid for new trial. they allege the jury relied on evidence when they were found liable to evidence fraud. and trade deficit in december narrowed, the smallest deficit since october of 2009. the estimate was for $40 billion. the commerce department said exports hit a record high and weak oil prices strained import growth. that is the latest from the fox business network, giving you the power to prosper.
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dennis: branding is everything. some companies do it a lot better than others. in this exclusive, ac asymmetric start of the top rants and adds of 2013. joining us now for the run-through. thank you for being with us, jonathan. why don't we start off, you are in any one particular company the brand of the year. that is google, a triple winner in some ways. tell us about that. >> google had an extraordinary year as an advertiser. it is unique given they make all their revenue online the end they are dead like few others have done. they one ad of the year, they won their category of software and websites and did so against very good brands and competition. ibm, facebook, yahoo, aol, all
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microsoft is in that category as well. they won the brand of the overall category because they were so much better than their category competitors, they took that title as well. an extraordinary year for them and a triple win. dennis: even more extraordinary is this is a company that did not advertise at all four years of the starting life. the advertising is only recent, right? >> it is, it is. something i have grown into the last two to three years. coming up on our fifth year now. i have done an extraordinary job to weave in not only their story and inexpensive emotional storytelling events with great product demos. here's to 2013. it broke on christmas day from the 25th. it did an extra in a job of being introspective and emotionally driven. at the same time it will then
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all the core products. search, mobile, youtube, google earth, that is a really difficult thing to do. i hadn't recognized the great advertisers. >> when we take our brand of the year winners, you look at a portfolio advertising. not just one ad. it is much different thing, i financially harder to make a portfolio great ad. the testament to the creative agencies and the brandishing's as well. jeep one with a variety of different concepts. the film rocket stuff, how they're working with soldiers coming home and talk about their heritage as a brand and finally individual models, the grand
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cherokee and the regular charity they came out with and they really resonated with consumers across the board with those. tropicana one in the final week with great visual ads, great music accompanied with it, and they beat out the likes of coca-cola and pepsi and some other names you more commonly associate. we are doing this with consumers, consumers are scoring these ads. 3.2 million consumers scored those ads, this is really how they rated those ads across the board. dennis: it takes is one of the best brand and add ratings of all. >> thank you. cheryl: time for your "west coast minute." another cyber security deal to tell you about, shares of -@palo alto network up with the start up security. this is their first acquisition coming three days after the company's main rival announced
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its purchase of the security tech firm. that stock is rising as you saw. spirit airlines offering a discount on the flights to colorado. the latest ad reading the no smoking sign is off, so get mile high with your $10 off to get for your next flight and make a beeline to colorado. they are barely legal in some states. this is something spirit likes to do, make fun of the news. san francisco a common sight to see a large tech company rolling through the streets full of workers headed to silicon valley, now the city of san francisco will start charging those companies for the use of city bus stops. critics say it highlighted income disparity in san francisco and also in oakland. that is your "west coast minute." dennis: climate change fanatics is this called spell to sell
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dennis: climate change fanatics use this cold spell to sell fear? here's what some have to say. i'm not as smart as al gore, but i think i know why it is so cold. the four seasons has something to do with it. and to put it another way, will climate change deniers use the cold spell to sell ignorance? that is exactly what i'm going to do. cheryl: denny's has signed a franchise deal for 30 new locations in the middle east over the next 10 years with 1700
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restaurants worldwide, through e first expansion to that region. there you go. dennis: bitterly cold temperatures eastward. we will be live at laguardia airport next. cheryl: not just the weather that is freezing up. >> the type is off, but i will wing this. cheryl: director michael bay's awkward stumble at ces. political nightmare or buzz generator? coming up in the next hour of "markets now." [ chilen yelling ]
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business. now the health concerns with u.s. facing widespread activity, more than doubling in just one week. wall street may be like your freezing cold car engine, just needs a little bit to get revved up. steve what tells us if this is now in play, and it will continue to see strong performance from those small-cap names. at ces, the bizarre scene and disappointed audience after hollywood director michael bay failed to pitch samsung's next big thing. is it a case of any publicity is better than no publicity? liz will ask samsung president tim baxter. and that beauvais has earned a reputation as outspoken no-nonsense type that tends to get
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