tv After the Bell FOX Business February 3, 2014 4:00pm-5:01pm EST
4:00 pm
[closing bell ringing] david: nicole. we will need you to stay with us. take us through the whole market analysis we have planned for our folks on a really rotten day for the markets. all the markets are down. dow triple-digit loss. the third time it has been down 300 points this year. mostly in january. you can't deny this is one of the worst losses we've seen quite some time when you add up all of the indices. look what happened by the way to the russell 2000, small and mid-sized caps, don't often hear about that in the mix. that is down over 3% in just one day. this is a heavy market day. you want to stay with us. we have it all covered, including richard fisher, the head of the dallas fed. how will the fed react to what we see on the screen. "after the bell" starts right now. liz: in a quick bit of breaking news, herbalife is jumping now
4:01 pm
by 6%. charlie gasparino was just on a few minutes ago, david. it had been up only 1%. david: right. liz: so that stock is in play as we go to the closing bell. let's break down today's action. jeff duncan, duncan management ceo and founder where he will put money now in this sort of uncertain atmosphere. pete lang, lang capital management, why it is time to reallocate our allocations. i'm sure he was doing it last week. chris gersch in the pits of the cme, nicole on the floor of the nyse. we begin with chris gersch. the morning started on a very bad foot, ism, institute for supply management manufacturing index fell precipitously, still in growth mode, not contraction but was that honestly enough to give us a 300-point loss. >> it was. what that meant to the occur currency markets and bond markets here in chicago. all of sudden everyone jumping into the yen.
4:02 pm
huge yen strength. 10-year three-month low on the yield that carried over the s&p pit right behind me. these guys could not catch a bid for anything. series of lower lows and lower highs throughout the day. flowed all the way down continued throughout the day. david: jeff, you're thinking of gold and silver in a day like today as a place to go for safety but is there any stock, as you look at this debacle today, any stock, any equity class you're looking at right now, or are you still waiting for the bottom to drop? >> i think utilities would be a good place to hide right now. yeah, i think we have further to go. my biggest concern i'm telling clients last 30 days, is amount of leverage that is being used in the markets. if we get somewhere between eight to 10% correction, how is all this leverage going to be unwounded? will it really going to accelerate the market decline? if it does, now will the fed have to step in and go a different direction? that is why i've been kind of
4:03 pm
favoring silver and gold because if they have to step into the market and print more money you could start to see gold and silver take off. liz: gold and silver, as we see what they did other session today, the move, i'm not quite sure that one really bad market day, although we retrace ad lot of the losses in the past couple months in the markets but up $16. that is just a 1% gain here. nicole what were the traders chattering about? what did they believe was big issue today. >> i don't think they expected to see a drop we saw over 2% on the major averages. the idea here was basically risk off. they sold everything across the board sector to sector. the idea that the market is not for the faint of heart. you have to be willing to take the swings of this market but we started out 2014 in a tough way. you heard ben willis say there is buying opportunity for companies you may like. we saw a few up arrows on names
4:04 pm
like aol which had an upgrade from needham and pfizer which has a breast cancer drug they're working on but for the most part when you start to get manufacturing numbers and hearing lower, they're cutting the orders and lower production, then everybody begins to worry about the global economy. and everybody is looking to friday. that is the jobs report. don't forget the last jobs report was weak. that is also worrisome. david: by the way we talk about that, the jobs report specifically with richard fisher coming up. so much of the focus is on whatever sector has any signs of hope left in it. and, pete lang, you see a number of sectors that do including shipping but i have to ask you, in light of these ism numbers, what are the shippers going to be shipping except for consumer goods? >> well, i would like to look at the market today basically, reevaluating what your sell discipline is overall. when we look at whether you're in bond or equities, what i like to say is that when do you go to
4:05 pm
cash in each of those areas? especially in the equity markets right now. i haven't seen anything really scaring me in the equity markets for a long-term play. i think high yielding dividend stocks are really pretty safe as long as you have a disciplined sell perspective. >> is the best way, pete, to do that through on etf that focuses specifically on dividend play officers. >> i'm not so sure, liz, that is the right answer. when you look at institutional investors, they're growing to have those tactical overlay that is are going to be built in and in essence what you're doing, you're not trying to time the markets there. you're using trend analysis in order tell you when to seek safer positions. >> it is also worth noting the 200 day moving and technicals, we're talking about global economies and jobs and all these things are very important. fundamentals are so key. technical analysis, liz and dave, as you know is so key. to watch the dow break the 200
4:06 pm
day moving average. we haven't seen that since the fourth quarter of 2012 that is very telling as well. david: chris, as we've been saying time and again, up 5 to 10 percent move. we've seen 6% so far. we mike expect another slide of a couple percentage points. some people are going into looking for bargains. the question is are they buying on a dip or catching a falling knife what do you think. >> they're absolutely catching a falling knife right now. nicole led it into with the dow. s&p futures there, is no technical support to the 1650 level. that is almost 100 points away. you don't want to be buyer now. in the other pits 100 yards away from me with that six basis-point move in the 10-year, that is safety. do not go into stocks right now. if you're going anywhere, go into bond and if anything, you know, pull some off the take, stay in cash. do not catch this falling knife. liz: i can not believe you're saying that. who wants to disagree? because again --
4:07 pm
>> i do. i would love to disagree. >> buying things on sale, right? >> no. i've got to actually agree with jeff here, you do not want to be buying into equities at this point in time. you want to stay in equities until at least you have a really good sell signal there but not time to move out of equities currently. david: pete, what do you think? you do see certain markets that look good to you right now. you mentioned, shipping e-commerce, what about that? they have been on a role recently. >> absolutely we're talking about long-term perspectives here. getting out in the short term looking down the road we want to be in high dividend-yielding stocks over a long-term basis. now of course we do want to have a tactical overlay. we want to know when to sell our positions but i don't think we're seeing anything that causes me to be concerned. >> that trade is already done. david: go ahead, chris? >> that trade is already done. you know, traders come in here,
4:08 pm
investors, it's, go into high dividend-yielding stocks as soon as we have a pullback of the truth is you can still get hurt by doing that you saw a precipitous move to the downside. it was lower lows and lower highs through the the day. if you're telling your investors to get in right now, you're taking 6%, what has been three weeks. liz: jeff, let me bring jeff in here and say if somebody you really care about, whether it is your parents or somebody else, what should i be doing today? what do you say? >> as i've been telling my clients for the last 60 days, after the market was up 30% last year, with profits up 6%, there was a big disconnect. in a time to get out of the market was about 60 days ago. if you haven't pared down, maybe if you get a couple up days this week, it would be a great time to do it. sit back to see what happens. and as i said earlier, my biggest concern is the amount of leverage that has been out there.
4:09 pm
if this continues and you have forced selling due to margin calls that will be a big problem that really -- david: jeff, are you, when you talk about leverage, are you concerned about this thing snowball in a way that is uncontrollable. >> yes. david: or what? >> yes. yes, david. i mean if you look at the amount of money that has been borrowed by the retail in the last year, it has been at all-time highs. if you look back at 2,000, 2008, it is way up there. i think people got too comfortable with the fed, putting the put in the market. now they're backing away. we're having all the problems in emerging markets. currencies. this could, even though fundamentally, maybe, yeah, we could see a 10 to 15% but just the amount of money that has been borrowed to buy position that is could be unwounded very quick. that is why this is a concern. liz: nicole, energy, all major names in the energy sector down,
4:10 pm
consumer staples, same thing. everybody in media except for time warner cable down, pharma except for pfizer down. this is very tough day to do well, minus herbalife. >> you know that even the small caps, the russell 2000 did worse than the rest of the indices. the dow and s&p were down 2%. russell was down even worse. you start hearing phrases like margin calls that makes you a little nervous, right? with 2013 everybody said was an easy year to make money because you didn't fight the fed. 2014 a little more difficult to make the money, right? you have to find winners in the bunch. right now there is certainly, jittery nervous feeling as we saw from the vix, the volatility index. david: chris, hold on a second,. chris i'm three minutes away from talking to richard fisher. folks on cme floridafloor they have been pretty much united against what the fed has been doing for a long time now. what would you ask richard fisher or the whole fed if you had them in front of you right now? >> i would ask richard fisher, what happens now that the yen is
4:11 pm
gaining tremendous amount of strength? what happens if the bank of japan comes in with more easing? what will that do to the markets? what do you think the fed should do then. >> it will help happen. david: i'm sorry we run out of time for this segment. jeff duncan, pete lang, nicole petallides so sweet to hung on through all of this chris gersch, we'll check back with you in a couple minutes when the s&p futures close. liz: live lie discussion, important for our viewers right now. david: when he last joined us in december dallas fed president richard fisher made big news, he wanted the fed to taper even more by $20 billion a month. fresh off the first meeting as a voting member, richard fisher joining us exclusively to tell us how this market downturn could influence the fed's next decision. liz: that is a can't-miss interview. it takes a lot of guts to quit your job but how about quitting your job on national television in front of the largest audience
4:12 pm
ever of any television show? yes the super bowl. that is what one woman, her, she did during the super bowl, with the help of godaddy. guess what? she is with us coming up, along with the ceo of godaddy who says the bold move had a lot to do with their business focus now. david: that was the real thing. amazing. tell us what you think by the way. is it time to bail out of stocks and head towards bond and commodities or even just cash. tweet us at fbn-atb. your answers coming later this hour. ♪ [ male announcer ] what if a small company
4:13 pm
became big business overnight? ♪ like, really big... then expanded? ♪ or their new product tanked? ♪ or not? what if they embrace new technology instead? ♪ imagine a company's future with the future of trading. company profile. a research tool on thinkorswim. from td ameritrade. a research tool on thinkorswim. she loves a lot of it's what you love about her. but your erectile dysfunction - that could be a question of blood flow. cialis tadafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready.
4:14 pm
and the same cialis is the only daily ed tablet approvedo treat ed and symptoms obph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess with cialis. side effects may include headache, upset omach, delayed backache or muscle ache. to avoid long-term injury, se immediate medical help for an erection lasting more than 4 hours. if you have ansudden decrease or loss in hearing or vion, or iyou have any allergic reactions such as rash, hives, swelling of the lips, tongue or throat, or difficulty breathing or swallowing, stop taking cialis and get medical help right away. ask your doctor about cialis for daily use and a 30-tablet free trial.
4:15 pm
liz: he is barely had a second to catch his breath but now that the s&p futures are closing we need to go back to chris gersch in the pits of the cme after a quite a selloff. what we see for tomorrow. >> continued selling, continued selling across the board. another five handles down after the equity close. not looking good for tomorrow's open. liz: chris, thanks. great job. shares of herbalife, did you see this? they were up about 44 cents, i want to say 30 minutes into the last hour of trade. then suddenly in the last 2 1/2 minutes of trade jumping more than 7%. they had better-than-expected earnings. they also announced an increase in share buyback but, nicole there has got to be more to the
4:16 pm
sudden jump on this stock? >> no doubt. we went over and talked to the specialist. the specialists are not really supposed to talk to us but there was evident there was a late buy order that came into herbalife. up 7.25 percent on a day that markets tanked, right? what happened? they raised their fourth quarter outlook. that is good news. they have been beaten down recently. they have been accused of a ponzi scheme. you had one of the regulators over in massachusetts looking into it because his constituents actually are saying they distributed herbalife products and actually were losing money doing so. so the, and he wanted sec, mary jo white to look at herbalife closely to see what is going on. in the meantime, stock over 52 weeks is a great performer, up over 83 points. in last three months, not so great, just up over 1%. liz: nicole, thank you very much. there must not have been a lot new on the website ttat bill ackman put through, david,
4:17 pm
because otherwise you would have seen the stock drop. david: let's look at bigger picture which is the market drag. the stock market pullback could be partly due to the fed's decision to taper back on its bond buying program. but the market slide turns into a tailspin, will the fed go back to record levels of money printing and bond buying? dallas federal reserve president richard fisher has a vote on that decision and all other major decisions on the fed open market committee and richard fisher joins news a fox business exclusive. wonderful to see you, richard. very important day to have you on. there is a lot of speculation how much of the market slide not only today but for the full month of january is due to the fed's tapering? what do you think? >> well, i gave a speech on the 14th of january. and as you know the market peaked on the 16th. david: so you're good news for the market. >> no, but i think the title, if you remember was, how i felt that the market had been wearing
4:18 pm
beer goggles. that everything looked great but that valuations were out of whack with, in terms of prices with underlying valuations. so the point i made in that speech is that, i wouldn't deter my view in terms of continuing to pare back on the amount of purchases we have been making if we had a market correction as long as the economy was growing. as long as cyclical unemployment was coming down. and the risk of demand driven deflation was a tail risk. and i don't, can't say, david, that things have changed just because of this market action taking place. we had it happen three times last year, of a similar type of magnitude. i want to remind you that the s&p is risen since, almost in a straight line, with some volatility, but, since march 6th of 2009, from 666 to almost triple that level to
4:19 pm
the peak on the 16th of january this year. markets don't move in one direction the amount of stimulus we have been providing changes the discount factors applied to future cash flows and earnings and i'm not surprised to see a reaction. but the key for us is, what is happening in the fixed income markets. the 10-year bond by the way has rallied here. the seven-year bond has rallied. and most important of all is the real economy. that is the economy growing? is cyclical unemployment coming down? and, are we running the risk of deflation or not. those are things that i care most about. i don't see anything changing as a result of last few days. david: we'll talk about whether the ism number was anomaly and december jobs figure and of course we get the december jobs figures on friday. i want to stick with the market for a second longer. what richard fisher thinks is very important. you're a voting member of the
4:20 pm
fed. >> one of misdemeanor. david: 12 members. there are others who may have different views. do you feel that the fed has become a little too concerned about what the stock market thinks? and a little too reactive of what the stock market does? >> well, i don't feel that way because we had a unanimous vote at this last meeting. and we took steps at the previous meeting. we continued them at the last meeting. obviously we're well aware and well-briefed on what reactions might or might not occur. we decided to proceed. and so, i don't believe, but i can only speak for myself, of course, but my own feelings are that my colleagues obviously take note of this, just as i do. but the key thing is how is the real economy doing? that is what drives our decision-making. david: so is it fair to say even if the stock market slide continues to say another 10% or 10% of the total slide, without the economy tanking, we get a fair jobs report on friday, that
4:21 pm
the, fed will continue along its current tapering course? >> all i can tell you is how i would vote. if that were the case, as you just stated it, that would not deter me from voting for continuing the reduction of our large-scale asset purchases at its current pace. david: this ism number that came out, we can speculate about the jobs number. >> right. david: but we know the ism number was a lot lower than expected. does that concern you with regards to the overall economy? >> still above 50. also, captured a very wintery month as you no. three out of four census districts in the united states were practically frozen during that period. i did take note of the fact that the prices were a little bit stiffer. there was a little more inflation than i expected relative to level of economic activity but still above 50, david. by the way the chinese ism, to the degree it's reliable still above 50. we had fairly decent numbers came out of europe to people's
4:22 pm
surprised. i'm less concerned than one might think given it was down to 50 from 56. whatever it was. david: you mentioned china. people throw in the emerging markets mix. kind of hard to do that because it is such a huge economy now. in some ways we're subservient to that economy sometimes. one-half of all international commerce in the world is the u.s. dollar and a lot of people blame, if that is the right word or say it is the fed's responsibility for what happens with many of the other currencies as well. do you accept that authority, that what you do affects currencies all around the world? and in fact what is happening in marriage marriages right now, the steep decline in -- emerging markets, the deep decline in their currencies is in relation to what is happening with the fed? >> with all due respect, david, over 80% of the transactions conducted one one side or other the is corrected in u.s. dollars. david: thank you, for strengthening my point.
4:23 pm
>> but, again, i would argue that with respect, that certain countries took advantage of this period of very low interest rates, very cheap money, to make structural adjustments. mexico's an excellent example. poland is a good example. others did not. they consumed, rather than, invested for the future in terms of structural realignment and i think there is some sorting out that is taking place here. i don't want to sound like we're indifferent to what is happening in those countries. they have also have sovereign and central bank responsibility. we are beholden to the congress of the united states to do our duty in america. we're not obviously ignorant to what goes on outside of america. we do care. we're the word's most powerful central bank. each that is their own sovereign authority or central banks directed by their legislatures or their parliaments. there is only so much we can do. would i argue if we strengthen the american economy and our policies are constructive in
4:24 pm
that way that is the best thing we can do for the rest of the world. those critical of our taking quantitative easing steps are critical of our taking it away. shows you how intoxicated people became with easy money. it doesn't continue on forever and can not continue on forever. david: certainly markets are intoxicated with that. we haven't talked about the jobs figure that is come out on friday or go to your kind of taper. can you stay with us through one break, richard. >> if you want me, i'm happy to stay. david: plies. we'll have another round with you. more of richard fisher to come. liz: i'm glad he is staying. he is already making headlines. "dow jones newswires" is picking up all his comments saying tapeter continues. david: good. liz: imagine, getting your job on national television during the super bowl no less? one woman did that as part of godaddy's advertising campaign promoting small business. the woman and godaddy join us ahead on this creative idea what
4:25 pm
they have done. as competition heats up, one cell phone carrier slashing prices dramatically and it is not t-mobile this time around. we have the details next. has a raise your rate cd that wothat's correct.a rate. cause i'm really nervous about getting trapped. why's that? uh, mark? go get help! i have my reasons. look, you don't have to feel trapped with our raise your rate cd. if our rate on this cd goes up, yours can too. oh that sounds nice. don't fe trapped with the ally raise your rate cd. ally bank. your money needs an ally. they're the days to take care of business.. when possibilities become reality. with centurylink as your trusted partner, our visionary cloud infrastructure and global broadband network free you to focus on wha matters. with custom communications soluons and responsive,
4:26 pm
dedicated support, we constantly evolve to meet your needs. every day of the week. centurylink® your link to what's next. there's notng 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. 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, pand here, or start a new business here and pay no taxes for ten years...
4:27 pm
4:28 pm
liz: time for a quick speed read of many some of the day's other headlines, five stories, one minute of the first up gasoline prices are now above $3 a gallon in all 50 states. the average price per gallon in eight states including new york and california is more than $3.50. in an effort to cut financial losses united airlines will cut flights from its cleveland hubby about 60%, david. the decision will result in the loss of 470 jobs. wow. janet yellen was sworn in as fed chair this morning. she is the first woman to lead the federal reserve.
4:29 pm
meanwhile former fed chairman ben bernanke is not taking anytime off after stepping down from his position at federal reserve on friday he reported for work at the brookings institution. that's a think tank and that began today in washington, d.c. >> at&t is slashing prices for data plans with multiple device, the prices depends on number phones, unlimited texting and 10 gigabytes to shared data. in response to t-mobile's aggressive efforts to steal customers. [buzzer] go t-mobile. david: when bernanke leaves the fed he goes to the brookings institute. when richard fisher leaves the fed he will probably join the rodeo. we'll talk about that at the end of this interview. we'll talk more about that, with dallas fed president richard fisher. just one more question on the tapering. >> sure. david: in december you were kind enough to appear here you told us you thought the fed should taper $20 billion a month, twice
4:30 pm
what they're tapering at, yet he went along, you did not dissent with the vote in january with taper for 10 billion. why didn't you dissent. >> david, each meeting we get a sense what the circumstances are and how the markets feel about things or so on. i did feel back then we could have done twice as much. i'm happy with the direction we're going. we're still providing a great deal of accommodation. we're at 65 billion a month, which is significant on top of the $4 trillion balance sheet we've been building. and as you know we're out on the yield curve. so, 75% of our holdings now are greater than five years. so it is not that we have stopped. or gone cold turkey here. what we've done is slow down the pace of accumulation. so, i felt that the number was right, the direction is right. as long as the real economy holds up and conditions i mentioned earlier. it was unanimous at the table and i think it was a good decision. david: just on the record, you're not longer in favor of a $20 billion a month taper, you've changed? >> no.
4:31 pm
i felt what we did was exactly the right thing to do and that was the $10 billion taper. david: all right. unemployment, we had this very disappointing number for december jobs. >> right. david: some people said it was anomaly because of the weather and other circumstances. if we get another one under $100,000 this week on friday for january, will we see less tapering and more money printing from the fed? >> david, i don't know until i see the numbers and composition of the numbers in terms of what i would argue. always remind you only speak for myself. i can't speak for my colleagues. david: sure. >> there are other indicators that will come and go. we'll have to wait and see what happens on employment. and other indicators of the yep health of the real economy and make sure also that, going back to your previous line of questioning, that financial stability is maintained. what happens in the credit markets, because what happens in the credit markets eventually flows into the other risk markets. right now the credit markets are
4:32 pm
actually rallying not selling off. that is because you have diversion as per your previous seg mane before me. the answer is, wait to see what all the different signals provide. i will make my decision with each meeting according to what i learn about the real economy, rather than just about the stock market. david: we talked about before unemployment figures are becoming less reliable or perhaps we understand more about them. but with all the dropout rate some people say we have 11% rate if we hadn't had all the dropouts from employment numbers. is, has unemployment become an unreliable index to rely on for the work that you do? >> well, we can effect cyclical matters. in is question whether we can affect structural change. for example i'm a baby boomer. the crisis may have taken people from my generation think about retiring and maybe foreshortened that decision making period. monetary policy, i'm sure
4:33 pm
cyclical nature of the economy i'm still trying to parse that i would like to get a better definition what we're trying to achieve on the employment front. gross blunt figure of general unemployment is what is in our statement and what we're working off of and i'm in favor of further refining that. the question is making sure that we don't fake ourselves into thinking we can affect structural unemployment which i don't believe monetary policy can influence. david: richard, i ask you to put on tv hat, you have only 20 seconds, the fed has a rodeo? what's up with that? you actually rode a horse in it over the weekend. >> fort worth has the biggest rodeo in the country. the fort worth stock show runs for 23 days. i rode in the grand entry. happy to know, they were going to give me a horse called widow maker. they gave me a horse called shooter. male quarter horse. i was not thrown and made it own only through the grand entry proper and only kicked by the horse. david: you were kicked is.
4:34 pm
we don't have time to ask you where. >> here is the point, david, for me at the federal reserve this is not the first rodeo. david: not the first time you will get kicked as a member of the federal reserve. >> yes, sir. david: richard, great to see you. please come back to see us again. >> thank you both. liz: we'll put the interview up on our website definitely. imagine you have the opportunity to tell your boss you're quitting in front of another 111 million people? that is highly unlikely, right? but it came from that woman during a reality tv commercial during the super bowl last night. we have the woman who quit and ceo behind the company next.
4:36 pm
if you have a buness idea, we have a personalized legal solution that's right for you. with easy step-by-step guidance, we're here to help you turn your dream into a reali. start your business today with legalzoom. we're here to help you turn your dream into a reali. [ mthat if you wear a partial,w you're almost twice as likely lose your supporting teeth? try poligrip for partials. poligrip helps minimize stress which may damage supporting teeth by stabilizing your partial. care for your partial. help protect your natural teeth. by stabilizing your partial. you really love, what would you do?" ♪ [ woman ] i'd be a writer. [ man ] i'd be a baker. [ woman ] i wanna be a pie maker. [ man ] i wanna be a pilot. [ woman ] i'd be an architect. what if i told you someone could pay you and what if that person were you? ♪ when you think about it,
4:37 pm
isn't that what retirement should be, paying ourselves to do what we love? ♪ liz: the super bowl turned out to be the most watched tv program of all time but it wasn't just the viewers that were anxious to watch the game. they have of course were watching the ads. now imagine having the opportunity to of a lifetime to tell your boss this. >> hi, ted. i quit. liz: that happened on national television in front of exactly 111.5 million people. again the most watched tv event in history despite the fact the game wasn't so great. here she is, gwen dean, live and in living color. the commercial was for go dad different what has your day been like in the i wake of you quitting on live television. >> i've been living the dream
4:38 pm
today. absolutely living the dream. liz: tell us how it came about. we'll get to blake in a minute. you're fascinating story. you're an engineer. you were working where? who is ted? >> i was an operating engineer. i spent 18 years. i got my license at a very young age. and through the years, through my coast guard experience, through different incarnations of engineering i picked up the ability to learn things that i got into really quickly. one of the hobbies that i had was pep petry. i had a -- puppetry. i had a great childhood experience when i was a child. i my dad had a little teddy bear. it was reignite ad few years back when a friend of mine was doing puppetry in a hospital. >> started working on the website through godaddy's web site creator. let's get to blake irving, the ceo of godaddy. you have must have had a bunch
4:39 pm
of sick missions, blake. how did you pick gwen. >> gwen represents our customer better than anybody else we find. when we found gwen, we knew we had a gem. gwen incredibly passionate about her business. we did a query out through a number of, usual things we think of, craig's list and that type of thing. we found gwen. once finding gwen and talking with her, the passion she has for what she does is so incredible. and she wants to this to be her life and livelihood. to enable that to do that with the website tool, get found tool and office 365 offering, it was all the things together that can enable her to do incredibly powerful things with her business to make it her own. liz: i think like what you did with the commercial strike as chord with some 11 million viewers, showing gwen, having courage to frankly quit. that is not an easy thing to do
4:40 pm
when you are umbrella of safety of a paycheck every two weeks from a company where you may not be totally fulfilled or really chasing your passion. how difficult was the decision to quit on television through this commercial, gwen. >> once i made that decision, it, i didn't have any reservations whatsoever. i come opinioning at the bit. i was ready to make that move -- chomping at the bit. liz: not many people have this opportune. tell me what happened on the website the minute the commercial aired? >> my phone blew up. i had a lost positive response. half of it have been actual inquiries for bookings and pour the puppets themselves. the other half have been wonderful well-wishers, 48 states in the union out of 50, i have responses from. it is really been grand. it is truly the super bowl. liz: for you, certainly.
4:41 pm
blake, this is in a direction normally than what you take with the previous super bowl commercials where you had the hot, sexy babes and things like that, not that she is not, but you went with a real business and small business focus here. why the shift? >> liz, we've been doing advertising that grows attention in a pretty explicit way over the last 10 years. this is our 10th year in the super bowl. our advertising wasn't telling people what we did i and who we did it for. we thought with 80% brand recognition in the united states it is not about attention anymore. it is about really explaining the value godaddy can bring and inspiration we can bring to people. if we help folks like gwen take that first step by giving them the tools they need to become their own boss and bridge step telling their boss or 11 million americans that they're leaving or they quit, and actually make a viable business out of what they do, you know that's
4:42 pm
incredible. liz one other question? david: go ahead you. >> ed is a question what happened to gwen's website. she went from very, very low traffic to something we like to use in our business, how many queries she was getting pershe s to 2,000 queries per second. her website was hit 2,000 times every second. it held up and doing what our webb sights do. liz: the website is puppets by gwen.com. courtesy of godaddy helping you build it. , your employer, have you heard from him. >> he is thrilled for me. liz: god bless ted, who gave you a good job all these years and good luck to you, anybody who has good idea seize upon the message of this commercial. >> that is definitely my sentiment exactly. it's a business. it helps business. you can't do it on your own but you can do it with godaddy and website builder and 365 and
4:43 pm
suite of tool. i wouldn't have made the switch out it. liz: that is the greatest endorsement you can get. blake irving, look at him, ceo. he is beaming. >> i'm beaming. liz: from the website. david, puppets by gwen. on its way. david: the american dream, being your own boss. godaddy helps you get there. with online fraud much buzzed about we have a expert says that this could cut global cyber attacks in half. you want to hear details. the cofounder of shape security joining us straight ahead. hi, are we still on for tomorrow?
4:44 pm
4:45 pm
can't wait til tomorrow. so i deserve a small business cret card with amazi rewards. with the spark cascard from capital one, i get 2% cash back on ery purchase, every day. i break my back around here. finally soone's recognizing me with unlimited rewards! meetings start at 11, cindy. [ male announcer get the spark business card from capital one. choose 2% cash back or double miles on every purchase, every d. what's in your wallet? i need your timesheets, larry! does your mouth often feel dry? a dry mouth can be side effect of many medications but it can also lead to tooth decay and bad breath. that's why there's biotene. available as an oral rinse, toothpaste, spray or gel, btene can provide soothing relief, and it helps keep your mouth healthy, too. remember, while your medication is doing you good,
4:46 pm
a dry mouth isn't. biotene -- for people who suffer from dry mouth. david: the recent cyber attacks on target, neiman marcus, yahoo! mail service and even popular games like "angry birds", have folks worried particularly folks who depend on the internet customers. liz: we have a former department of defense employee. hehe is the cofounder and
4:47 pm
vice president of products at shape security. this is startup that aims to revolutionize the way we fight crime as far as cybersecurity firm. let's get right to it. these malware devices are unbelievably flexible and morphing as they infect one computer. tell us how your product is really killing them. >> you said something really great. they're morphing as they get into one computer. they keep on changing shape and taking different forms. we took that exact same idea and turned it into our advantage. we take a normal website, invisible to normal users, we make that change for them on every single page view. people want to hack websites have to solve a totally different problem every time they try to visit the website that we're protecting. david: let me see if i get you here. what you are doing is throwing so many different things at them, that could be the real thing that they don't know which one of those things is real and
4:48 pm
which isn't, is that about it? >> to some extent. we're rewriting the web page in real time so it looks and feels the same to a legitimate user but actually different at the level of source code. that is where the attacks are happening, at the source code level. we make that look totally different every single time you visit the page. liz: who is your software for, the shape security device ad tracked so much attention. is it for the individual? is it for corporations? >> great question. it is for large corporations, for anyone with a website doing business online. everyone of the companies you mentioned target, neiman marcus, et cetera, those are the kinds of companies that need our form of security. david: now you have mentioned to us in our notes here that the achilles' heel of these cyber-terrorists i call them is that they become, is their own hubris. they become too self-satisfied at their work. how can you take advantage of that? >> well there, are several ways. one is they become much easytory
4:49 pm
find. they leave telltale track that is we can then use to find then. that is not specifically what my companies does but that is certainly something that is beneficial to all of us. my company makes them work much, much harder. when they become self-satisfied with what they had did before they become less willing to work. we radically increase the amount of effort to make them successful. in many cases we make it impossible. david: shape security cofound ir. thank you for doing what you're doing. we'll all take advantage of that. we appreciate it. >> thanks for having me. liz: thank you, summit. big storms across the country putting the brakes on auto sales for some car companies. we have details. there are both losers and winners and what it could mean for the economy. that's right, nhidd fees. it's just that i'm worrd about, you know, "hidden things." ok, why's that? well uhhh... surprise!!!
4:50 pm
um... well, it's true. at ally there are no hidden fees. not one. that's nice. no hidden fees, no worries. ally bank. your money needs an ally. peace of mind is important when so we provide it services youu. can rely on. with centurylink as your trusted it partner, you'll experience reliable uptime for the network and services you depend on. multi-layered security solutions keep your information safe, and secure. and responsive dedicated support meets your needs, and eases your mind. centurylink. your link to what's next. ♪ [ male announcer ] you're watching one of the biggest financial services cpanies in the country at work. hey. thanks for coming over. hey.
4:51 pm
4:53 pm
liz: extremely bitter cold temperatures sweeping across the nation may be keeping some car buyers out of showrooms but is the weather really the main problem or is it something else? david: that is what jeff flock has been looking into. he joins us live from a gmc-buick dealership in napierville, illinois. it is a nice day there, jeff. >> it's a sunny day. i don't know about a nice day. i start with the weather. that is the snowplow working this lot here. this is our old friend woody.
4:54 pm
look what they plowed behind bob. look at awe the snow. this had to hurt sales. take a look at numbers. some people with really dramatic dropoffs. cw down almost 20%. gm down 12%. ford, seven. only guys that made out are chrysler. and i bet woody made out? >> we're up 13%. we're ready for business. >> more snow is coming tomorrow and you plowed all this out. >> right. we have a team of people ready. we're up 13% and proud of it. all these cars start. >> he said in the old days they have to jump the cars, you have to push them out. now they all work. >> i don't even think we have a rear wheel drive car in the place. >> take a look at the gm brands if you would. woody is happy because his brands were down the least of any of the gm brand. buick down just 1% on the month. gmc, 10%. what do you feeling going forward here? how do you feel about this coming? look at the stock market?
4:55 pm
does that have chilling effect on people coming out to buy? >> to be honest with you, people we haven't seen that at all. they have a one had you thousand, 150,000 miles on the trade or taking advantage of high trade-in value. i don't see any negative. >> the most positive man in the auto business. hard title to have. david: good for him. that's woody. we love woody. grown to know him and love him. >> good man. >> weather that was hurting them. mercedes came in with record numbers and drove autonation sales. thanks, jeff. david: thank you, jeff. we asked you on twitter if you think it is time to bail out of the stock market and head to bonds or commodities? your answers coming next. i ys say be thman with the plan
4:56 pm
but with less ergy, moodiness, i had to do something. i saw mdoctor. a blood test showed it was low testosterone, not age. we talked about axiron the onlynderarm low t treaent that can restore t vels to normal in about two weeks in most men. axiroor men with prostatewomen or aor breast cancer.n 18 women, especlly those who are or who may become pregnant, and children should avoidt where axirs applied as unexpected signs of puberty in children or changes in body hair or incased acne in women may occur. report these symptoms to your doctor. tell your doctorbout all medical conditions and medications. serious side effects could include increased sk of prostateancer, worsening prostate symptoms, decreased sperm count, ankle, feet or body swelling, enlarged or painful breasts, problems breathing while sleeping and blood clots in the legs.
4:57 pm
common side effects include skin redness or irritation where applied, increased red blood cell count, common side effects include skin redness headache, diarrhea, vomiting, and increase in psa. ask your doctor about axiron. 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 something that creates more jobs, and ows more businesses... we're open to it. start a tax-free business at startup-ny.com. afghanistan, in 2009. orbiting the moon in 1971. [ male announcer ] once it's earned, usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protecon. and because usaa'commitment to serve curre
4:58 pm
4:59 pm
david: folks, we asked you on facebook and twitter if you think it is time to bailout of stocks today and head towards bond and commodities. opc trading on twitter, wrote in to say, get out of equities and into bitcoin. well, you know? who knows. melissa: liz: let's go to wayne on facebook. stay the course in long-term stocks. if one wants to gamble with assets ride the commodity roller coaster. david: all right. number one thing to watch tomorrow, will be stock market after today's selloff. all major equities, 2%, 2%, 3%. all in pullback mode. that is a down movement of 5% from the recent highs, all of them, are in that mode. so it will be very interesting
5:00 pm
to see if we work out way out of this one. liz: fox business will take you every step of the way. be sure to tune in early. money with france france is next. david: see you tomorrow. melissa: brand new developments in both the wage wars and health care hell. senator dick durbin jumping into the wage rate fray. any enrollment mistakes on healthcare.gov can not be fixed. it is great start for the week. former massachusetts senator scott brown is here. even when they say it is not, it is always about money melissa: wall street investors fleeing today. huge market selloff. the dow is down 326 points. we've got one of our money market wizards on in just a moment to tell you both
69 Views
IN COLLECTIONS
FOX Business Television Archive Television Archive News Search ServiceUploaded by TV Archive on