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tv   Markets Now  FOX Business  January 8, 2014 11:00am-1:01pm EST

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targeting scandal but now will they say now? slightly warmer to apertures of the rise could be enough to get people back to work despite the deep freeze. the jubilee's ski operators in colorado are not concerned about the snow on their mountains and why it could cost them business? in corning making waves at the consumer electronics show liz claiborne today we'll show you what else they're rolling now. we have more on "markets now." dagen: not just the voluble of the snow but the quality. i lived in colorado for two years.
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to today's interiors. at the top of the hour another day the first day of gains of recipe 500 so far. >> we have seen some up arrows trying to erase the losses of the year 2014. the dow was down over one digit points now it is 70 of 14,000. a loss of nearly half a percent error in the s&p 500 is flat. the vix index is to the upside in the dollar is stronger as the commodities pullback. looking for a downed arrows we will have up arrows and the new high on a new deal is use the stock is jumping high at 1.3 billion that
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will help them along their asset stock jumps a little bit there. back to you. connell: and to me and in charge of the irs wants a bigger budget as they get ready for their role of the chief enforcer of of obamacare. dagen: it is stealing a big debates in congress over its direction in a power. cahan peter barnes has the story. >> business executive was sworn in as the new iras commissioner this week already making waves at the scandal-plagued agency. according to one meeting this week he said he is concerned about deep budget cuts over the recent years and hopes to put the funding on the more solid basis and since 2010 officials say the budget has been reduced by about $1 billion.
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but obama has requested to increase the irs budget up at 12.8 billion under a 2014 to help beef up enforcement and bring in $4 of tax revenue for every dollar spent but they say they can better use technology to do more with less. the former top executive from freddie mac a management consultant and a turnaround expert the president nominated him in part to a turnaround the irs said has been rocked over the scandal of targeting tea party in conservative groups. also trying to manage a bigger workload because of dozens of changes in the tax code brought about by obamacare. treated --. connell. peter barnesberger of 2014 may shape up to be a big year for tech stocks. thank we were told at the
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consumer electronics show one of the biggest trends idb the interconnected mobile device so let's listen to that. >> if you talk about mobile devices it will be more than the total population by 2015 but if you were to take away of only one member of today think $19 trillion. connell: the chief trader joins us now with his take out of washington. that number sounds big but the concept is not a revolutionary we although that is not the present or the future but you are big on technology? >> no doubt. i checked into what he said and back in 1984 there was less than 1,000 mobile devices so of course, the
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expansion is the huge. 19 trillion is a huge but who will get that $19 trillion? the guys who spoke himself, this is a systems the stock is still 50% below its high so it is definitely not getting that money. connell: that separates the conversation into broader tax stocks but some not necessarily looking at a goal or facebook but what areas do you think will be the most successful? >> online sales as evident by a holiday sales on the retail side with brick and mortar is down about 70%. amazon and no doubt not only doing very innovative south -- stuffed with 30 minutes
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or less with also active online sales so i like the amazon has been expanding 20 years and it will continue. the only problem right now is valuations may be high. but i do like it. connell: you are not necessarily a fan of google or facebook but you already mentioned amazon but it's after the death of steve jobs the company is not what trades today.k at the apple >> i mike apple. this is evaluation and that is low. very loyal customer base. the keeps selling us the things that we did not know be needed.
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i think they have been fiscally discounted already with innovation. if they ever come up with something in the price is to the upside. connell: but when there talking about television's i know apple does not participate in the us ces but you are betting that comes back? >> yes. i bet they still have a loyal customer base is the fact they may come out with something here. maybe not this year or next year that will be a big boost. also they held their earnings with their mobile. connell: thank you very much. dagen: that arctic blast hitting the majority of the united states but the midwest and northeast still
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have temperatures below freezing. connell: is the danger of frost bite is something people are talking about from the fox news medical a team the thing about frostbite is that it does not take long. you don't have to be exposed that long? >> absolutely. it is a tricky situation just a few minutes could be enough. 120 year-old said she was locked outside without gloves for over 15 minutes with temperatures in chicago well below freezing enough for her fingers to start burning. >> i knew it was a problem because i could not stretch them straight and win i got to the heat my pinky was the
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first that i could move but the key to made its excruciating even though i know they are warm they feel like they are called. >> she felt the unbearable pain like honest like don dash her blisters were popped into her hands were warms but now she is treated successfully with painkillers, hydrotherapy, of berndt cream and says she is beginning to regain feeling but she will be in a hospital at least one week. dagen: what is the long-term prognosis? >> so far it looks good. the bones are good they're hoping she will not have any permanent damage. >> it is hard to predict i hope sensation comes back in just examining her yesterday she is having some feeling
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come back just as her fingers are moving again. but hopefully her sensation welcome back. >> according to the university of chicago they have treated more than 20 cases of frostbite last month compared to five last year. it causes numbness so it is easy to miss. those who are exposed to extreme cold be all on the lookout for discolored skin on the neat -- the toes and fingers and also look for it in other people. your fingers are not you don't notice their frozen. dagen: of french was living in wisconsin with the subzero temperatures and somebody jumped on top of them and started to watch -- rub his face and it happens like that. >> get out of the cold no
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heating pads or stoves because it is almost like a burn if it is frozen you have too thought it slowly to use more water. dagen: despite the cold temperatures this note in the rockies is a concern they're worried about the snow melting at the ski resort and farmers are worried about this is saddling on the mountain and at melting quicker than normal that means less water for the of fatah. in addition to quickly beltings no it causes the skis to stickman can create blinding conditions when the wind kicks up. here are some of the company's. connell: in the meantime ordering your next pizza from the driver's seat?
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and domino's. dagen: end we are sitting on a wealth of energy independence and it is often not so distant future but what more can we do to create supply? connell: latest play from corning how it positions itself to be a leader in the field. we will check in with liz claman as "markets now" continues. [announcer] welcome to the all-new intuituickbooks. run your ente business with it.
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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 something that creates more jobs, and ows more businesses... we're open to it. start a tax-free business at startup-ny.com. crestor got more high-risk patient bad cholesterol to a goal of under 100. way to go, cresr! yh! tting to goal is a big deal, especially if you have high cholesterol plus any of these risk factors. because you could be at increased risk for plaque buildup in your arteries over time. so, when diet a exercise aren't engh to lower cholterol, adding crestor can help. go, crestor! ♪ ♪ oh, yeah [ female announcer ] crestor is not right for everyone, like peoplwith liver disease or women who are nursing, pregnant,
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or may become pregnant. tell your doctor about other medicines you'rtang. call your doctor rht away if you have muscle pain or weakness, fl unusually tired, have loss of appetite, upper belly pain, dark urine, or yellowing of skin eyes. these could be sig of rare but seris side effects. crestor! yes! [ female announcer ] ask yo doctor about crestor. if you can't afford your medication, astrazeneca y be able toelp. connell: 15 minutes into the show we have not talked about dennis rodman. retail stocks taking a hit with commentary about the holiday season so be talk with nicole petallides to. >> the obvious number is the lack of foot traffic in the stores it turns out foot traffic over the holiday season dropped 45 --
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14-point 5% that people are dinosaurs looking at costco and j.c. penney they promise better sales than they seem to be pleased saying they were pleased with the holiday season so they are trying hard suits turnarounds'. over the last two weeks and retail sales overall with that foot traffic but you worry about the customers. dagen: forward unveiled a new function that allows drivers to order domino pizza right from the car. user input was in the information into the mobile app by processing and delivery address are done automatically. it is unveiling a new function at the consumer electronics show we have live coverage throughout the day.
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the look dash chevrolet and price line where you can't get a hotel room through the art star system. also through your car. food a year-round hotel. connell: dennis rodman today actually sang happy birthday and dedicated the all-star basketball game to the north korean leader calling it part of his diplomacy campaign it and now calls his best friend. he did watch the game with his wife at the p'yongyang indoor stadium. , but they erupted with applause when he tucks the accord along former nba -- nba all-star is. there is nothing funny too bad jews as. dagen: note there is something clearly wrong with him. he was on celebrity rehab.
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connell: they blocked it to but his face when they were talking the other day? stouros miss was like just get me out of here to when you went to north korea with dennis rodman? >> what do you expect? >> we will come back with a lead -- liz claman looking of the product that changed the device industry. connell: america at a critical point with energy independence why we must act now or we could miss the opportunity completely but first the world currencies.
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[ male announcer ] this is the story of the little room
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over the pizza place on chestnut street the modest first floor bedroom in tallinn, estonia and the southbound bus barreli down i-95. ♪ 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 parof some of the world's great stories. that began much the same way ours did in a little dorm room -- 2713. ♪ this magic moment ♪
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>> 22 minutes past the hour your fox news minute former defense secretary robert gates slamming obama as leadership style and a memoir released next week questioning the president's committed to the war in afghanistan.
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of a cabinet member of also harshly critical of vice president joe biden claiming he has been'' wrong on in nearly every major foreign policy issue over the past four decades''. though white house defense biden saying he has been one of the leading statesmen of his time to help advance america's leadership in the world. president obama relies on his skills delivery day. now an update on the tragic helicopter crash that claimed the lives of four u.s. airmen. saying today military officials are coordinating recovery efforts with the british mystery -- ministry of defense during a low-level training mission when it, crash. now back to comment shane. dagen: now it is time to make money best charles payne who looks at a sizzling medical maker at a
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four year high. >> we feel that we may be chasing until you pull up the all times are. anybody should just use this with economics charts meeting each other at a soccer game it is a fallout but we have the same ideas of with the nonabrasive medical device they start the wrapup it is a gigantic success. one guy leaves a and then brings in the henchman dave made all kinds of acquisition it goes from $4 all the way up 44 it was unstoppable then they had negative publicity and recall that is why it has been mostly sideways. on the bandwagont people and i really believe it has completed the turnaround is
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taken over a decade and i think it will start the response. dagen: did you look at other medical device makers? >> i like st. jude i thought it would be acquired by johnson and johnson but they also are looking at hypertension, asthma, brain stimulation which is great stuff to help with parkinson's. i have a nice spread, strong cash flow, a stock is breaking out, so i think boston scientific people can get back into it has finally shed all that bad publicity. connell: i was distracted except -- a7f to stop avoiding these conversations with other parents of soccer games. [laughter] i need to ring gauge more people. [laughter]
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dagen: that is just you. good to see do. it is just the beginning for corning at the consumer electronics show liz claman is a live. dagen: how about just not taking your smart phone into the bathroom with you? jeff flock is looking at one business that is happy about this snow craze.
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mmon kind... ...it's not caused by a heart valve problem. dad, it says your afib puts you at 5 times greater risk of a stroke. that's why i take my warfarin every day. but it looks like maybe we should ask your doctor about pradaxa. in a clinical trial, pradaxa® (dabigatran etexilate mesylate)... ...was proven superior to warfarin at reducing the risk of stroke. and unlike warfarin, with no regular blood tests or dietary restrictions. hey thanks for calling my doctor. sure. pradaxa is not for people with artificial heart valves. don't stop taking pradaxa without talking to your doctor. stopping increases your risk of stroke. ask your doctor if you need to stop pradaxa before surgery or a medical or dental procedure. pradaxa can cause serious, sometimes fatal, bleeding. don't take pradaxa if you have abnormal bleeding or have had a heart valve replaced. seek immediate medical care for unexpected signs of bleeding, like unusual bruising. pradaxa may increase your bleeding risk
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if you're 75 or older, have a bleeding condition or stomach ulcer, take aspirin, nsaids, or blood thinners... ...or if you have kidney problems, especially if you take certain medicines. tell your doctors about all medicines you take. pradaxa side effects include indigestion, stomach pain, upset, or burning. if you or someone you love has afib not caused by a heart valve problem... ...ask your doctor about reducing the risk of stroke with pradaxa.
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>> backup of of power at "markets now" according to rolling out the newest edition of guerrilla class at consumer electronics show. the american petroleum institute tells us why ready to act now has america will be the energy superpower. people will need ice delivered to their businesses and jeff flock shows us one company getting it done. connell: shares of twitter are getting attention today but first let's talk about microsoft. >> microsoft aaron twitter what start off with microsoft alan mulally was the leading contender to take over the ceo role they
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announced back in august the red be a change earlier this year. but now he is out of this morning. also from nokia and others that they try to keep better under wraps so it just brings the of wild card back in the stock is down 1.2 5%. another analyst cuts twitter the. it is the $26 ipo is over $74 right now $60. but now analysts say it has gone up so far so fast take a break. dagen: corning is one of the big names at the consumer electronics show making news. we showed you yesterday the new guerrilla class to fight off of bacteria and in terms of smart phones and tablets. connell: also looking to drum up some more news today with one of the top guns.
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>> here is id 1 billion devices they have thousands of partnerships of all the major names whether motorola or apple or samsung hewlett-packard gorilla glass has a 95% market share because it is so strong. year after year we have done our fifth demonstrations try to step bonded or scratching we cannot break it. i tried hard but you almost have to bring in a swiss army knife but now it is anti-microbial class. i just want to take this to my floor director. see if you can break that. so it happens. when tablets used by multiple people.
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>> this is a higher resolution and picture liz is so disgusting so the general manager and senior vp at corning, 164 year-old company always innovating. talk about your anti-microbial class. >> it is for devices more than one hour per day everything you touch. >> also everything your kids touch you know, that they don't wash their havens. >> everything your kids touch or you touch if you share your device it ends up on the surface. it is a steel case, it has multiple users like the front of a conference room. hundreds of people per day could be touching best putting whatever is on their
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hands on the surface. we wanted a better way. we have interviews bionics over into the of the class citizen known into microbial. we have to do with it to keep all of the of properties of tasty that consumers are used do you make it transparent and be effective civic these things are so dirty the phones have been tested so we thought we would test the crew members phones. explain what happens. here is a little scientific area. >> we wanted to measure the level of contamination in-house paul. so remeasured here with thousands of people have used to knows the last time it has been cleaned. then we did your crew members. there was a moderate level of infection between
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moderate anti-your cameraman had a low level but frank. [laughter] was off the chart over 1,006 he is behind the camera. [laughter] this is organic matter it could be skin cells it could be fingerprints or bacteria. we want to have a surface that was significantly you reduce that bacteria to make the phone much cleaner. >> it makes more sense that now we are worried when it comes to the providers they still want it to strong suggest show people how strong teeeighteen really is >> our number one objective is to make it thinner thinner, stronger, more reliable that is competitive
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and '01 .6 millimeters thick if you press the down with a pencil it breaks. now we go half the thickness of our competitors it is a copy. it breaks even easier. so we went from 1.six from 1.eight this is 0.four gorilla glass. as hard as you will try. don't break up a pencil. [laughter] you did not break it. we will take this class just to show how much force it can take. after she tried to break it to shoeprint well over one and 2 pounds of force. >> there are so many different products apple still uses these safire class for the finger touches
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are you worried? >> sapphire is an interesting material. it is very hard. our objective is to go thinner, lighter, more durable and with our testing with safire as you get thinner the durability gets worse gorilla glass is what would not satisfy the needs of thinner or a lighter or more durable. liz: your also using class that has the curved television with the 95% market share. when we come back we have twentieth century fox home entertainment talking about content with the fancy new television. dagen: en thank you for doing just thank swab. [laughter] we should not shake his hand
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connell: now we have been grows out. with americans energy business at a critical point from the american petroleum institute will come up to tell us why it is important to act now. dagen: freezing temperatures across the country but somehow the ice business is booming and jeff flock has a live report from the polar ice a factory. connell: successful companies remaining successful. we talk so much about turnaround and now a man who has over 5,000 executives on how to manage their growth. coming up on "markets now."
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so i can reach ally bank 24/7, but there are no branches? 24/7. i'm sorry, i'm just really reluctant to try new things. really? what's wrong with trying new things? look! mommy's new vacuum!
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(cat screech) you feel that in your muscles? i do... drink water. it's a long story. well, not having branches let's us give you great rates and service. i'd like that. a new way to bank. a better way to save. ally bank. your money needs an ally. >> i am lorre roth and mr. fox business briefs. filing for a spinoff of a gas station and convenience stores saying it will look for a buyer while pursuing the spinoff. and has stores along the east coast with 1200 outlets in 15 states as well as washington d.c.. we learned the private sector created to reduce 30,000 jobs beating by 30,000. adp reports the largest
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increase in 13 months. november's numbers will provide -- would go higher by 14,000. the unemployment rates rose in november 67 .7% as the worst rates and remainder over 12 percent.cer mbition. 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 something that creates more jobs, and ows more businesses... we're open to it. start a tax-free business at startup-ny.com. they're about 10 times softer and may have surface pores where bacteria can multiply. polident kills 99.99% of odor causing bacteria
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and helps dissolve stains. that's why i recommend polident. [ male announcer ] caner, fresher, brighter every day. connell: dacron "markets now" with the medals on the move. dagen: we have the latest scam accuse see all lots of red arrows let's set those up as we await the and it's we're expected to hear what the fed was thinking of the last meeting with the discarded shoee taper those programs. oil prices are down heading into the weekly chart you can see the sell-off. down $0.58 on the session
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but you also have called the down about $7 as weinto the foms afternoon. down 2 percent today leading this sell-off for the metals and copper prices are not change. does the senate -- the fed is sound hawkish than we get a spike in the dollar that would lead to further selling as a commodity. as we head into that it is important to take note where they are. now back to you. dagen: this country talk about energy. all business is booming this country is getting closer and closer to energy independence but we need to make sure we don't screw it up. we have this deal from the american ever charlie of the institute. good to see you.
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talk about growth for the two-year what does your organizations seek? >> we just released our states of american energy reports this shows a bright future it would be over $80 billion of investment in the united states with oil and natural gas activity now the world's a number one natural gas producer as predictive of the next 67 years can surpass saudi arabia. it is a very bright future is that we don't want to mess it up with politics and distortion in the marketplace brought on by officials but to take advantage and pursue it as the american opportunity with democrats versus republicans. dagen: what is your gravest concerns specifically what
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washington could do to get in the way of the energy production here? >> one case in point the keystone xl pipeline. it has now been under review for over five years. we have had five of environmental reviews everyone has concluded no significant impact to the environment. it has taken us longer vanish as to prevail in world war two or put a man in space and almost as long as to build a the transcontinental built road 100 to 85 years ago. this is government policy or in decision that holds us back to produce the oil and gas that we so desperately need while creating great american jobs that is where policy gets in the way. >> the event something the unions are in favor of.
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but this is canadian oil. not american produced by issue of tuzla station from canada so, is that related to us producing to make sure we don't have to import from canada question mark that is partially true. the pipeline going across the border today it is just one about 25 percent of that capacity picks up oil from north dakota and montana to take it to pushing to the gulf coast. is not entirely canadian oil. but it is also about basic law of supply and demand. the march supply we bring the more infrastructure we have in the marketplace to create american jobs and taxpayers. i am struck by the irony of
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the of conversation of income inequality. our jobs pay about seven times the minimum wage if we are looking to close that gap then let's put our people to work. it will create thousands of american jobs in benefiting all americans. >> the american people looking at a gas prices right or they were one year ago why do we get some benefit. >> the number one determinant setting the price of gasoline was the cost of crude oil. what is it difficult and is we have been increased production at 2 million barrels per day into due to the iranian
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sanctions the price remains stable and consistent. it will put pressure on the prize. dagen: good to see. we will see what happens in the coming years. >> we hope it is good. connell: dash 16 degrees this week but people still need to have ice delivered. dagen: jeff flock can tell us why. the polar ice company in chicago it is it warmer inside the factory. >> this is how cold it is. i am sitting on an ice block to warm up in this freezer. polar ice company chicago 22 degrees in the freezer outside it is 9 degrees.
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maybe you can hear they are cutting dry ice. you don't even see it smoking like you typically do because it is so cold it is not even any evaporating. why do people still the dice ? >> all lots of people go out of town to keep their food frozen or samples to a ship to different states. >>. >> but convenience stores, all the eyes despite the fact it is called. >> the temperature could be the 52 week low of. [laughter]
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dagen: you may have heard of horse whisperer the dog whisper what about the company whispered? connell: coming up on "markets now." found a magic se. 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.
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>> i was saying earlier this is an interesting topic do hope successful companies days successful picking up the name the company whispered who helps fortune 500 companies i said it was interesting because you hear about the turnaround here comes the of a turnaround specialist the you have the
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right idea with a company that is already successful and help them to stay that way but a list of 12 warning signs of success. to espy and idea of the problems companies have when they start to be successful. >> i oftentimes tell companies a work with successful companies nothing kills faster them success. some problems at who have been around a long time with thousands of companies to exploit the patterns in an historical trends we can see what causes successful companies do trip up? one is of a bright idea wrong person. they have the idea of who they want to hire to interview and talk to the of folks but then they realize they have the wrong person there were successful and
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another organization but not what they need for their company. connell: holding is not a strategy. open door, closed wind. what does that mean? >> you will hear executives say we want to hear your ideas and interactive does he want to hear about strategies and problems so people of bring of those ideas but then they are shot down there is the open-door policy but a closed mind when people bring forth good ideas that could help scale and grow the business are shot down because that is the leaders are put ahead. connell: if they have the foresight than they are less likely to have the problems because they know they have to deal with it? that what type of reaction do you get? thinking of google or
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something similar founded by two people it is growing like crazy didn't know how to manage the organization. or the fact that they reach out they have issues? >> spot on. exactly. those that i work with our leaders who have enough ability to know that they don't know what they don't know and they have the blind spots and i help grow a company at $1 billion during that time even though it was successful the ride was more dramatic than it needed to be so when i left i decided i want to help other of leaders to be able to predict a the problems and that is to work with. connell: it sounds cliche to know what you don't know and a lot of people don't. we will have you back. thank you for today. dagen: in the next hour of "markets now" record low temperatures costing our
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economy billions of dollars. connell: rich edson has an interview with the chamber of commerce c0 donahue. just-in-time for the new year. 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 withhe reliability of fedex. [ male announcer ] this m has an accomplished research and analytical group at his disposal. ♪ but even more pressive is how he puts it to work for his clients. ♪
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morning. morning. thanks for meeting so early. oh, it's not a big deal at all. come on in. [ male announcer ] it's how edward jones makes sense of investing. ♪ over the pizza place on chestnut street the modest first flo bedroom in tallinn, estonia and the southbound bus barreli down i-95. ♪ this magic moment it is the story of where every great idea begin 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 do room -- 2713. ♪ this magic moment ♪ [ male announcer ] wt kind of energy is so abundant, it can help provide the power for all th natural gas. ♪ more than ever before, america's electricity isgenerated by it. exnmobil uses advanced visualization and drilling technologies to produce natural gas...
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powering our lives... while reducing emissions by up to 60%. energy lives here ♪
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i did government policies have slow our growth and cause americans a lot of jobs and a lot of raises. we must fix these mistakes and not repeat some going forward. connell: that is tom donahue talking about the challenges facing our great nation. i am dennis kneale with cheryl casone taking you through the next hour of markets now. .edu joins us in a moment to tell us what needs to be done to boost u.s. business and our economy and of religion for a lot of companies. this cold streak, 15 major cities breaking record lows in the u.s. we will warm things up
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in las vegas and the consumer electronics show, digital sales of movies and tv shows rake in over $1 billion for the first time for 2013. the president of 20th century fox home entertainment, those stories and more markets now. a lot less cold today and yet 9 degrees this morning. cheryl: it is different. not understanding these markets. adp number coming in, surprise to the upside and down 50 to. dennis: a pullback on lost money. cheryl: we will get those minutes and 2:00 eastern time. let's bring in nicole petallides. investments said minute watch 2:00 eastern. what is the buzz about the minutes? nicole: waiting on the minutes, the vix, the fear index, growing uncertainty, you want to hear what they're going to say, the dow is lower and the nasdaq and
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the s&p are dealing which shows you the environment over the last six session, the dow has gone between negative and positive territory, the dow is down 54 points, 16,004 somali 6, the s&p is virtually flat but we are awaiting the fomc minutes, we got enough numbers better than expected and gold and tech raising their job creation numbers, they had preliminary numbers of the month of the 5,000 and moved to that to 200,000 coupled with the adb report and the i s m numbers. and to get a second winning session in a row. back to you. nicole: cu in 14 minutes. cheryl: this morning the chamber of commerce delivering an aggressive strategy to promote a pro-business majority in congress. rich edson collins us with
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thomas donahue. peter: this is the state of american business address given by tom donahue, the president of the chamber of commerce. thanks for joining us. want to start today on the 50th anniversary of the war on poverty, president obama saying we are country that keeps the promises we made, he spoke about this in the context of our entitlement programs. can we keep the promises we made and can we afford it? >> we can keep them but nobody ever suggested they could figure out 50 years ago that 10,000 people would they would be retiring and in 17 years, 77 million people, we have expanded not only medicare but medicaid and everybody was going to live so much longer which i like and so now we have to make some adjustments and adjustments have to be on the health care side and on the social security side
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which we can do fairly easily and we can do that while everybody keeps their benefits and then we have to find some other sources of revenue. rich: can we keep constant level of benefits or do they need to take less benefits? >> i expect overtime when we get to fixing it we wouldn't let it grow as fast but i don't thing we will see ourselves taking away fundamental benefits but medicare and medicaid, all about how you deliver health care, at what cost, with what co-payments and what deductibles and all that, that can be fixed and everyone has their benefits. then you need another source of income. peter: business confidence really quick. we won't see much coming from the government especially from congress. how and when does business begin to pick up that porche, pick up that baton and higher at a faster pace? >> you can get two answers to that. when you get 3% economic growth
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is more likely but the second answer is when you give some assurance by way of giving them back what actually is going to happen to obamacare and what it is going to cost what we going to do about the trade agreement which i am optimistic about and what benefits does that provide to the business? what actually are we going to do over the long haul about entitlements? that we can look at this and say the government is stable, we are doing smart things, limit regulation and start investing. >> does the government have that much effect on our slower growth? >> i would say if you look at the fact that the recession was over five years ago and we are still in the can with growth this year that might get 2% i think the government has a lot of affect. rich: when you talk about the midterm elections you want to spend money and get elected pro-business candidates, we talk
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about this in the press conferences that mean anti tea party and anti people who are going to want to at least threaten to shut down the government? turn to allow the government go past the debt ceiling? >> my fundamental deal is the tea party catalog of good recommendations. manage your cause, limit your taxation, expand your trade. there have since then been a lot of people who want to hook their wagon to the tea party argument and the tea party name and the people who want to not pay the national, pay the debt when it comes due and once he shut down the government, we shut it down 30 times but i mean really shut it down, those people are not helping us. we need to get people that want to get into the congress, get with people on the other side of the aisle and find real solutions to these problems before the problems get us. rich: thanks for joining us this afternoon and sent it back to you in new york.
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rich: appreciate it. dennis: blizzard conditions, the weather over the past we could cost the country $5 billion in lost revenue. some businesses reap an upside in the freeze. kristin drake helps companies like coals and coca-cola and had smart on how to react to the weather. welcome. appreciate your being with us. do you think overall businesses were in good preparation ready for the storm or were they caught by surprise? >> thanks for having me. i think a lot of businesses have been paying more attention to the weather this year. we had a cold and snowy december and the weather has been very volatile over the past few months so there are a lot of businesses that are prepared for this weather. dennis: $5 billion in lost revenue. what is that based on? >> based on a lot of factors. they are impacted, 200 million people which is the most since
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superstorm sandy. that is causing a huge impact to the economy and from those people impacted you have lost productivity from people who are not able to get to work or school or their place of business and people who are not shopping and purchasing like they normally do. >> when i forgo purchasing aren't likely to go out and to buy what i need once the weather warms up? >> in some cases you may make a purchase of little bit later, you may just be late it based on the weather for some of those items like consumables but for other things you won't go out to dinner twice next week because you didn't go out to dinner at all this week. a lot of those purchases will be impacted by high-cost of energy we have seen, electricity, natural gas hit record highs the last few days and consumers are going to get those bills in the next month or so which will significantly impact our purchasing. dennis: on work productivity i was hoping losses of work productivity would be less now than 20 years ago because people
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have the option of telecommuting. >> there is a little bit less of an impact. there are people who are able to work from home and in this situation we did find even though the cold temperatures and snow caused a lot of people not to be able to travel. people are not using electricity to the same effect we sometimes see with significant ice storms so that is a benefit and we see the winners from this on that side of the business. online shopping for example should see a spike this week because people are not going out to the store but may be purchasing at home. dennis: a nice bump up after online guys at a fantastic december. let's talk winner, online retailers and who are the other winners? >> some of the other winners include -- some of the other winners include anything you are able to do at home so take out delivery food instead of going to the restaurant or any type of on demand movie or television
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watching, we will see an uptick this week, people are hibernating staying at home so anything that allows them to do their activities in doors is something that will see a big boost. dennis: as for losers, movie theaters? >> anything that gets consumers out of their home, usually people, to escape from being indoors this week they want to stay inside. we are seeing a lot of people stop those shopping trips, anything that is a destination location is being significantly reduced this week. dennis: natural gas drilling in the u.s. those energy bills won't be as high as they were five years ago. thanks for being with us today. kristin break. >> thank you. cheryl: could there be light at the very cold tunnel? the latest forecast to this
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brutal cold snap will come to an end. standing by in the fox business weather center. dennis: and the train carrying crude oil the rails and catches fire this time in canada. detail ahead. as we do every day at this time look at energy.
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cheryl: stronger yesterday, negative today, 69 points, an hour and 25 minutes from the fed minutes, we will see what the fed had to say in the last policy meeting, could be a game change, microsoft impact the dow three points, alan mulally saying he won't leave the automaker microsoft and has been considered a move for him to replace steve ballmer so now this is uncertainty for a microsoft, three to four months since he announced he would retire in the company still searching for the third ceo in its 30 year history, directors of microsoft hopes to have a new ceo by the end of the year.
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time for stocks every 15 minutes, to the floor of the stock exchange, nicole petallides watching constellation bands, big stock for the market. >> different analyst for constellation brands, for microsoft constellation brand on the other side up 80%, a new high today of $78.48, they noted up over 8% and they talked about had juggling, revenue up 88%, turns out while they have a lot of names under their umbrella including vodka, and wine, but beer helped them along, beer is very hot this summer, the trend has continued and they are talking positively about moving into the new year. they raised their full-year forecast. would be? koren and mondello are the ones that are helping them. dennis: anoth train carrying crude oil derails and burst into
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flames. this is the ninth oil train derailment in the u.s. or canada in the past 12 months. 150 people evacuated from the area in new brunswick, canada near the border with maine, no casualties reported. to the trading pits of the cme, phil flynn. oil doesn't seem to burst into flames when traveling through a pipeline. >> it doesn't and that is the bottom line. why aren't we moving this through a pipeline? that is the safest way to move oil. why aren't we building the keystone pipeline? we are putting the country more at risk because of these explosions. as you said we have seen the amount of oil moving by rail and record high last year and the concern of course is it is going to have to double. no one says we shouldn't move oil by rail. one of the safe alternatives but it is not the safest. the safest is going through a pipeline and when you see these kinds of concerns it can definitely impact not only the
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stocks of these companies but the safety of people. last july we had 145 people died during one of these rail explosions. they have to move safely. on top of that some of the oil they are moving may be more volatile than the oil they used to, that has caused the market to be more concerned, safer by rail and safer by pipeline. dennis: it is picked up by the pro keystone folks. thanks, phil flynn. cheryl: the deadly cold snap, record lows in cities across the country but there is a end insight. we have your forecast. >> sharing against the greenback. [ male announcer ] hands were made for playing.
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dennis: 50 major cities breaking lows as the bone chilling cold eases up in part of the country day. >> it has been rough one across the east.
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this is the overnight temperature, 9 in new york city, 7 in boston-10 in minneapolis-6 in chicago, still very cold, been killed across the northern plains is where it is the coldest but that is around 20 to 30 degrees better than you felt a couple days a, feels like 9 across the big cities of the north, 16 in d.c. the cold in place but you see it retreating, look at your high temperatures today getting up to 20 in fargo, 26 in chicago, below freezing but improved from where you were. towards the day tomorrow you notice temperatures increase again just a little bit, go towards the day saturday, everybody looking good and look across the big cities in the northeast temperatures in the 50s, the ice on the ground will begin to melt a little bit. taking a look at the next 7 days in new york, the average, 38 degrees and by friday we get 43.
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friday we get just above it and the weekend looking good. that is great news. we will see this cold air moves across the great lakes and we have seen lake effect snow and we will see a few areas another foot, and in the four footer range for lake effect snow behind this cold air. dennis: thanks very much. cheryl: jpmorgan paying billions to settle bernie madoff related charges. the question, who is being held responsible? you say shareholders being shaken to protect the people that breaks the law. charles: shaken down or the money, what bothers me is i come out and defend capitalism all the time and free markets and democracy and america and it feels like the other side has a lot of momentum going for them. the next two years could change america of the way we know it and when these wall street guys,
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anyone can make a mistake on a trade but if you are going to admit to criminal wrongdoing, someone should a phrase. you can say we did do something criminal how much do you want? they allow themselves to be ripped off by the federal government so no one in the firm has to go to jail and use shareholder money to do it they turn this whole thing upside down and give so much ammunition against the forces -- cheryl: the london wale, that was -- he was responsible for that at the end of the day, if you are finding it -- trying to get past all this, they set aside $20 billion in the last quarter, trying to get past all of that. charles: i understand that part but, if we did nothing criminal, i would probably find it and can't afford to fight it because of mine a -- financial institutions and criminal
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indictment, that is enough to bankrupt and destroy the firm. look at what happened to aig even though it was unethical to threaten criminals to encourage civil settlement, the people most directly responsible for a mess up and find them instead of the company. in this case we should find the sec. it is not jpmorgan's job to blow the whistle on bernie madoff. is the sec's job. charles: if they found out what you -- dennis: they didn't know about it. charles: they admitted they knew about bernie madoff. would you want to find jamie dimon the ceo or the guy who runs that department. charles: the assumption that somebody, some ceo with offices in 40 countries is going to check off every quarter.
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and they were clean. this is ammunition, ultimately could hurt -- it could hurt anyone. this is the kind of thing that could hurt companies. if the forces of capitalism when they will -- cheryl: look at the financial sector. for 2013-12-11 top performing sector every year they still can make it out of this mess. charles: the fed is buying all of this stock and get money from zero% interest. cheryl: we could be here all day. thank you very much. dennis: shunning trends thats, a once feared food and dr. manny alvarez will talk about this delicious firm trend. cheryl: workaholics listen up,
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pictures, piures there's a boy riding on his bicycle you can read too grandpa! ♪yea it's always better when we're together♪ the. >> digital sales nearly doubles over the past year with the fastest-growing source of revenue for hollywood studios liz claman talks to the president of twentieth century fox home entertainment. butter consumption hitting a four year one dash 40 year high and we are here to weigh in on that. obamacare kits in the press but now it will be promoted in the winter olympics. nbc will run ads to target the uninsured. now let's go to new york stock exchange with nicole petallides to. >> god headache with the down narrows we have a lot
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of news hitting new highs. social media, internet related but i've looked at some of these names. pandora, yahoo!, of google all 52 week high is sold j.p. morgan raised this at $89 right now with a $79 the andorra continues to gain and listeners up over 3 percent today. hitting a new high as well. as we continue to hear from joensuu at the casone@foxbusiness.com has a new high end and bill also says when they look at the smart phones with the google andreas system so there is good news there. back to your toe -- two years. >> there is good news somewhere. cheryl: chief investment
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officer of huntington and asset management is here. use eighth 2014 has a more i know the doom never seen by looking at the last year of the dow jones industrial average we have gained 26% this is the first on my radar. what do you see that i have not with the run-up of the next year? >> we had pretty much the purves store with the news with 2013 with a good corporate earnings of very accommodative fed and at the end of the year something happened that i thought was interesting, we had good news translates into good market news. good economic news. before that anything that was good of the economy was viewed negatively because they thought the fed would use that as an excuse to start to taper off as was
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discussed in the spring. but to the end of the year we had good economic news reported a and the fed announced they would start to taper and then we start to go wed. cheryl: we will vote this afternoon as we get the fed minutes about 90 minutes from now but these are stocks of specific radar. the three systems at a company that was public featuring 3d printers all the rage. the stock is up 137% in the last month 15%. you say by air of paul? >> value is hard to determine but i equate this company to apple as a merger of the two allowing us to become a new manufacturer of the renaissance and apple have both industrial as well as retail applications.
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the news reprinting taking place in this country seems to bring speeto together with lagered term implications like the gps with military applications than almost found their way into every consumer in the country with gps. cheryl: let's go to a tractor supply company. why would you buy a tractor supply instead of john deere? people have told us john deere is their big tech. wide tractor supply? >> we like john deere but the entire agricultural sector will benefit from rising production in a rising crop prices if you add fracking we have capital
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flow hitting the area that has not been experienced in decades. so we're trying to look deeper they and the normal play is with the agricultural sector the fertilizers in and the incremental capital that farmers a and rural communities will have. there will they spend it? what areas they have an interest in and tractor supply company can be one of those areas. it is a attractive play because we think is the agricultural seed has long lakes. cheryl: we are also looking at the industrial sector another way that they complained. thank you very much. randy from huntington asset management. >> as more americans say no two's trans fat and other food makes it come back butter consumption hitting a four year high in 2012 as
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intake rising 25% over the past decade. can this be good for you? our managing it editor dr. alvarez is year. >> and never should have left. dennis: you like the flavor? >> no no no. separate margarine and all products white kids were man-made hydrogenated special oils and fatty acids that are deadly to the body. natural butter has saturated fat but used in moderation is not that bad for you. but people somehow gave that up thinking manmade stuff was better at the end of the day the fda will make it not available. dennis: they are going to be in trans fats but consumer moderation in the new number shows average american per-capita 5.6 pounds.
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>> because we exaggerate everything. looked at the french paradox they eat butter and everything in moderation and common north as a collectivity and they love their wine and beer for cardiovascular disease in france is very low compared to the american system. natural foods are not bad but we make the mistake we make them so huge and larger and big portions and sets in front of the tv was no physical movement we don't drink enough wind so yes you get heart disease but the product itself. bit as good properties if you eat butter in moderation 100 billion times better than and margarine. dennis: in france there is no such as saying of moderation what about the steady thousands upon thousands of people they
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found all at -- general products are bad? >> i was talking to an oncologist today about the natural food versus artificial at the end of the dade natural is better than artificial. we know that for a fact but the problem i have the in the u.s. there are other factors. look at china they have a huge problem with smoking which we know is of leading cause of cancer in the world is looking is very bad so when you cohabitate the factors of smoking lifestyle , lack of exercise exercise, that is when these things are cloudy but if you extrapolate to load data products like butter with moderation is great to. your body can metabolize. i am glad you are back. >> to that is the key.
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[laughter] cheryl: time for your "west coast minute" washington state may have the abundance of cotton growers 2600 applications have been submitted for marijuana production and facilities more than expected wanted. they want to cap production of 46 acres with only 334 retail shops statewide. is a bidding war. up calling for california's $60 billion high-speed train plan to be canceled. the latest blow to the proposed oil line between los angeles and san francisco. governor brown already facing slipping public support it a protest by wind owners who want this canceled. google's tried to get workers from san francisco to a silicon valley just
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coming as san francisco wants to charge tech companies of fee for using a the and a bus stop it does not want to encourage a hardship so there is a fight going on. that is your "west coast minute." dennis: that is fine. >> is a catamaran. >> take it across the ice. [laughter] >> a major new advertiser on taking incumbent commercial time for the upcoming winter olympics. cheryl: we go back to be consumer electronics show with the bass is on display with liz claman in the middle of the action speaking toots' twentieth century fox. we will be right back. fedex one rate. really makes my life easier. maybe a promotion is in order.
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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. 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 bega mucthe same w ours did. in a little dorm room -- 2713. ♪ this magic moment ♪ ♪ this magic moment does it end after you've expand your business?n after your company's gone public?
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and the capital's been invested? or wn your compan's bought another? is it over after you' given back? you never stop achieving. that's why, at barclays, our ambition is to always realize yours. >> this is your fox business brief and ising as the bill to make federal agencies make federal companies more transparent. the senators want to force federal regulators to provide more details on further charges of reach a settlement more than $1 billion. the president gaining two o hundred 38,000 jobs bidding is with a 30,000 the adt -- adp reports the largest increase of 13 months.
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barnes & noble has promoted the head of its business to chief executive officer. during barnes and noble as the cfo and -- in 2012. this is the latest from fox business, giving you the power to prosper.
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cheryl: what a great -- what good is a great pitcher is to television but one company is working 24/7 to bridge the digital divide. liz claman is a las vegas state number two at the consumer electronics show. >> brothers and sisters at twentieth century fox home entertainment are on the case. consumer spending on a digital delivered titles like going through netflix or hulu.com will edge past
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packaged titles this year. fox says he want to be at the forefront so why not take popular names like wolverine available digitally in the best possible for matt -- format because the future is now? >> samsung, ultra high definition television. >> it is a curse. it is amazing. >> looking into the future of your living room into the next five years. if you look at how consumers look at of home theater, 10 years ago the average size of the television was 30 inches. five years ago it was 42. today it is 50. in tenures lowe's -- most households will have 75 inches.
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>> but we need the content but that is where you come in. and is very competitive right now. how do we get to these brilliant television sets when these are not yet made technically or digitally? >> today at consumer electronics show is much different than what you saw years ago because we're at the intersection of their technology and content meet. because all the vices are connected so they are worthless without the content of the early adopter had the gadget that to do one thing. these tvs can do multiple things. so content plays a key role. >> '04 word one year but will fox be playing when it comes to these tvs?
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>> there is the digital transmission there is a billion people that buy tvs and 38 million that are digitally active but have not started a movie collection. so what are the benefits for those 38 million people for the business? how to read displayed data on these large tvs? that is a challenge because the movie file is a much larger than a block or music. moving data round of the internet is our biggest challenge. >> there is a hit or miss with the every seal but what sticks out is 3d television with the glasses but what makes you so sure this ultra high definition is the next thing? >> i think this is the
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extension of high-definition. so i think they will continue to get bigger into the definition will continue to increase. this is on the same trajectory from standard to high-definition to alter a high-definition. it is not a curve in the road like 3-d. >> we cannot wait to see the next avatars. >> there are two more in production and it will be a bad boy when that gets. jim cameron actually configures the movie to work when it comes into the hold and that is why a few five blue wray with high-definition television "avatar" is brighter, a better looking than any other movie. >> but blu ray is not yet except old straw high-definition.
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>> it has a tremendous amount of data stored up the string -- of the screen so today if you have a streaming service that throws six megabits but if you have blue wray it throws 40 megabits it is like celery verses a haagen-dazs. >> i do think most of us want that to over salary. that was from 20th-century fox home entertainment. entertainment in the home is a big deal by people spent so much of the television. this was on the floor of the consumer electronics show. you programs for your phone phone, you walked up to your door to lock its promise it is a dead bolts covering it is locked when you come back you don't even have to hold
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the coated -- the phone. it could be in your person but if you are paranoid you run out of battery there is a physical key or you can plug in your friend phone it will put it right back together. a lot of people talk about the us. >> we will huff the palm karaoke special. in lottblood dash actually of hutus your voice in it will even add entertainment on the fly -- of the flight to carbonize with your voice. we will talk to our fox business acre exclusively here at consumer electronics show. cheryl: thank-you.
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>> amazon science and exclusive -- exclusive deal with cbs to the stephen spielberg series as how we berry returns home to earth to a functional family. new episodes available on amazon prime exclusively for days after the air. this is similar to the hits the dome. the year 2013 was the year of the streamer. streaming online rose about 118.1 billion in 2013 up 32% according to nielsen in billboard. with those extra albums on top of the tube hundred 90 million sold last year. but but streaming was free on pandora and that is why overall sales of music fell 6% over last year. cds and cassettes are down
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but even digital tracks are down 6%. as for the top releases justin timber lake is a top seller at 2.4 million board line is the top digital song and also vital album sales are up italy 6 million couplings. >> copies. cheryl: the obama administration olympic games advertising campaign. when we come back. ♪
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♪ ♪ ♪ [ 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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>> the obama administration and betting on the olympics with the numbers lagging the hhs department says it has purchased advertising time with markets of high rates
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of uninsured people to a matt those uninsured people during the olympic games from sochi. millenials and reduce enrollment has been a problem for the administration. cheryl: that is a card for a lot of residents speak russian. >> will banks deliberately a misprized mortgage bonds? cheryl: this claman will be back live from consumer electronics show she will have a karaoke machine that helps you hit all the right notes. ♪ [ male announcer ] e new new york is open.
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>> a major new blow for wall
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street banks. adam: federal investigators probing whether or not banks deliberately miss priced mortgage bonds even after the financial crisis. lori: microsoft set to name the ceo and one thing is for sure, it won't be this man. the future ford and who is left to head microsoft adam: jobs report surprise, revising the forecast for friday's numbers following the a be adp data showed small business taking the lead in december hiring. lori: a bird's-eye view for flyover country, the promise of agriculture drove from the first palmer in the u.s. to ever own and operate one. let's get things started with an update on the stock in commodities markets mainly in the red today, full coverage with ben willis on the floor of the stock exchange, fox business contributor phil flynn of the price futures group, to you

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