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tv   Markets Now  FOX Business  February 28, 2014 1:00pm-2:01pm EST

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successful week. adam: the 0 original luddites were englishmen. you are in good company. i am adam shapiro. cheryl: i am cheryl casone. as fast as it appeared it disappeared. bitcoin exchange knock off filing for bankruptcy protection, three things investors need to know, a billion dollars in customer money goes missing, head of the financial services round table, tim pawlenty joins us. adam: frustrated investors openly questioning the tech giant's pace of innovation as the stock if 25% below its all-time high. we are live in california for the annual shareholder meeting. cheryl: russia accuses ukraine of staging an armed invasion of its airports, the presiresurfacg
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protection from moscow. adam: you may be better off asking somebody at the securities and exchange commission elizabeth no wiki on the new report that says sec regulators are benefiting by trading on inside information. right now bitcoin bombshell, one of the digital currency's biggest online exchanges has filed for bankruptcy protection, jo lin king and has been all over the story and joins us with the latest blow to bitcoin. >> all was unfolding and looks like serious drama. we lost half a billion dollars worth of bitcoin due to unauthorized hacking into its faulty computer system after declaring bankruptcy today, he'd vowed that apology at the justice ministry in tokyo. the standard in public apology in japan. 750,000 bitcoins were stolen but
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we learned about $63.6 million in outstanding debt is what mount gox is dealing with. we are dealing with the digital currency you can buy and trade in a variety of nonregulated independent legal exchanges around world and here are three things you need to know about that mount gox bank to. how big is it? some college of lehman knowledge of digital currency. major loss for investors who have been calling in mount gox but as of last summer looking at the broader scale longer the biggest exchange. bitcoin community tried to rally and say this is a digital darwinism and bitcoin is still healthy. officials weeding out so to speak. second, how will this damage of rice? prices have been falling since bitcoin hit $1,,00 in december, then hit $418 on tuesday when mount gox was taken down and cover around $500 this week and third but not least, will this
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mean more regulation for bitcoin? there are arguments on both sides. some say of the bitcoin community can absorb the loss of mount gox may be the decentralized system could work out but with retailers like overstock.com and mount gox assets in the currency the pro rating including the superintendent of the department of financial services say this is an opportunity to get in and protect investors. bitcoin was on the agenda during janet yellen's congressional hearing yesterday and hear what she thinks. >> with respect to bitcoin, it would be appropriate i think for congress to ask questions about what the right legal structure would be for virtual currencies. my understanding is bitcoin doesn't touch things. >> this is after a total ban of bitcoin this week, and the community held a hearing last fall and those members of the
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leadership team having renewed interest in health. adam: hard to see investors getting burned but we will leave it there because there's more to this story. cheryl: we will pick up on this. the federal reserve is taking a hands-off approach to bitcoin regulation but the cftc and the sec continues to investigate whether this virtual currency falls under their jurisdiction. let's bring in the ceo of the financial services round table and former republican governor of minnesota tim pawlenty. we have to start with this news. do you think that regulators like the cftc and the sec should step in and regulate bitcoin like they do big banks? >> specifics of what regulatory approach they should take to be subject to more question and in corey but there should be some regulation of this space. you saw bitcoin connected to the silk road problem and mount gox failure literally riddled with failures, not just a
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cyberhacking problem but hacking problems and business practice problems. you have consumers and investors putting their money into a currency that is unregulated and inconsistent with the traditions and practices regulators play in financial services and markets. cheryl: the other side of the story is the investigations into bitcoin in manhattan, the d.a. looking at this and transfers and communications made through any new york entity. looks like they are going to do that. the other side of this is not regulated but prosecuted. if you lean toward that side of the argument here. >> we need more information before we can make that kind of judgment but if you trace back the activities, probable cause to believe they are involved in criminal activities they should be prosecuted but at the very least we should pay heed to the federal reserve's words which congress should inquire, gather basic facts and determine and
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apply appropriately touch, appropriate regulatory framework on bitcoin. other wise consumers and investors, it is the wild west and it won't work. cheryl: bitcoin's popularity surprise us. something like this again, unregulated, virtual, somewhat dangerous became so popular. do they think this is an indictment of the federal reserve and monetary policy and those that are looking for other ways to increase their investments and assets like bitcoin, maybe the federal reserve isn't doing their job. >> it reflects a number of things, financial services are going to look in the future less and less like a brick and mortar and more like technology companies. migration or interest toward bitcoin or interest, more technology is inevitable but as the migration occurs let's make sure it is done in a responsible appropriate way and you can't blame the federal reserve for not regulating because they don't have the legal authority
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which is why the chair was calling on congress to take action. cheryl: a market is up 116 points. what else is on your radar right now now that you have switched from public policy to the corporate world? what are you watching and what can you tell our viewers is the next thing for them to watch in these markets and with their money? >> from our standpoint the financial-services roundtable we watch regulation carefully to make sure regulations are appropriate but don't so overof bake the cake that capital formation, deployment and the like but in terms of the next step in the economy the employment numbers are very, very important, not the only measurement but a key measurement and that has a lot to do with detail of where the economy is going next. cheryl: that is a hot topic for businesses. it was great to see you. thank you for commenting on bitcoin, a big story for us
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today. adam: we go back to the floor of the new york stock exchange dealing with some record highs in the market but as charlie brady crunch is the number, the volume is kind of white. market watchers like to see this kind of light volume high numbers. >> the bulls out there want to see the record with heavy volume to support it, what you are seeing today, record numbers, the s&p 500 hitting a record all time high of 1867, however you are not seeing volume to support it. we are seeing volume at 6% below the one month average. 29 of 30 names are winners today. the s&p 500, economic news was -pmixed. i won't tell you why. ashley: sound like sandra bullock is there before the
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oscars. nicole: or something else. it is all about the markets. cheryl: she will find out and get back to as. mark zande speaking to maria earlier today touching on recent weeks gdp numbers and the endless winter potential impact on the economy going forward. take a listen. >> a big miss part of the slow down. i won't be comfortable until we get into the spring normal weather and normal day. cheryl: doesn't believe the recent economic data will have any impact on the fed's plan to begin its taper. adam: tim clark is addressing shareholders as investors go frustrated. we have apple stock continuing to drift away from its all-time high. robert gray live outside the shareholder meeting in california. i have been there before and for some investors is not a fun experience being told you won't get more money. what are they saying now?
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>> it has not gone to that. tim cook, the ceo is on stage, ducked out of the meeting to bring the latest to you guys. he was basically doing a recap of the past year, highlighting for the first time publicly what they call their, quote, hobby which is apple's tv gets better than $1 billion in revenue last year, hard to call it a hobby anymore. first time he talked about that and highlighting that they made more money than anyone who doesn't pump oil in tim cook's words with reference to exxon mobile than any company out there or any tax company and talking about acquisitions, jab or bob, started by former apple workers, facebook for some other acquisitions are not looking to pay the most war in a race to do the most acquisitions, only the ones that make sense for them. he has gone on to highlight manufacturing, working to bring jobs back to the u.s. and sapphire manufacturing there as
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well. talking about china mobile and dealing recently, at 17 cities to expand out to 200. also gone on to say, a funny moment, after this update, talking about some new products we are working on and you can hear an audible gasp and started joking and laughing and aunt to hear about the capital program they boost the dividend and raised the buybacks the $60 billion that had a record $17 billion by offering to do that. and $20 billion in cash in the u.s. more than $100 billion is overseas and that would be subject a higher tax rate to they brought it back to fund that and have to do another bond indeed they up the buyback after buying $14 billion in january alone which got carl icahn off their backs to buy back more shares so we're waiting on news of that and we will get to you as soon as we have it. cheryl: breaking news into fox
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business. what may be the biggest ipo of the year. chinese ecommerce giant ali baba is expected to be in the united states according to a report from chinese internet platform c-net, this would be a major blow to the hong kong exchange which has been hoping to garner this listing. morgan stanley and credit suisse have been hired to manage the idea. ali baba says it has not set a timetable of picked and exchange. reportedly valued at $153 billion and a big piece of the old part of the portfolio that was yahoo!. a big switch. adam: the steam engine keeps chugging along. other news we're getting news on, the online food delivery service just revealed its ipo filing. the company plans to list on the new york stock exchange under the ticker grumble, like-minded start-ups emerged last august. the company reported a profit of $5.6 million on $137 million in
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revenue for 2018. citigroup and morgan stanley will manage that ipo. cheryl: fraud uncovered at citigroup. the hit to the banking giant's result after a suspicious deal in mexico. >> oscar buzz ahead of the awards show and why the biggest surprise may be the weather. cheryl: the president remains defiant blaming of the west for his downfall. you are watching markets now. we will be right back. when does your work en does it end after you've expanded your business?
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cheryl: the country's former president making his first public appearance today while the white house says russian intervention in the region would be a great mistake. also worsening the turmoil ukraine's i financial situation. with the latest is ashley webster who joins us in studio. stuart: he surfaced in russia today calling for calm as crimea becomes a flash point, russian troops seizing two airports, that is the latest report. reporters of the news conference in southern russia today, that he intends to keep on fighting
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for ukraine's future against what he calls pro fascist thugs in kiev and is also blaming the west for his demise. >> irresponsible policies by the u.s.. particularly as strong country that will definitely be able to overcome. >> also saying russian intervention was not needed even though as we say russian troops had reportedly received -- sees two airports. the u.s. saying to russia, better back off but at the political divide widens ukraine's financial situation remains precarious. worried about pipers of the inflation ukraine's central bank has put a $1,300 limit on daily cash withdrawals. swiss and austrian authorities are blocking the assets of his
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associates while launching a corruption probe. ukraine's new government claims loans were $37 billion went missing from spain accounts during three years in power as well as $20 billion from central bank reserves. his annual salary by the way is listed as $100,000 a year. the former president also being blamed for doubling the national desk during his three years in office. ukraine says it now needs $35 billion over the next two years to avoid bankruptcy. the imf is sending a team to kiev to assess the situation but managing director christine legarde says there's no need to panic and the european union also considering emergency loans, keenly aware that a lot of western european, western europe gets its natural gas from russia through ukraine. the e.u. in the last half-hour saying it will offer $2.2 billion worth of short-term
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financing to ukraine if needed so obviously events happening at breakneck speed and we are covering every step of the cheryl: appreciate it. warner: the banking giant announced it has found fraud in its mexican subsidiary and is reducing its previously reported 2,013 net income by $235 million. citigroup's ceo says the company is working with mexico's attorney general to initiate criminal action over the manner and did is exploring legal options. this after shares recently took a hit regarding emerging-market growth which could reveal bad loans as well as increase the risk of trading losses but c shares right now in positive territory. cheryl: set your fingertips, barber business school grad baja and fish fix delivering hand-picked clothing and accessories to women, will be joining us.
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adam: spotify, amazon wants in on the streaming music business. fierce competition in the battle for your years coming up. ♪
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see what's new at projectluna.com can you start tomorrow? yes sir. alright. let's share the news tomoow. today we failrly busy. tomorrow we're booked solid. we close on the house tomorrow. i want one of these opened up. because tomorow we go live... it's a day full of promise. and often, that day arrives by train. big day today? even bigger one tomorrow. when csx trains move forward, so does the rest of the economy. csx. how tomorrow moves.
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adam: controversy around and as a spying which sparked concern over privacy is hitting business as well as cisco, ibm, microsoft and hp reporting declines in business in china following the disclosure that the nsa surveillance program in existence, ala tech companies are trying to develop and is a resistant products to help improve their sales overseas. good news for amazon subscribers, prime service may be getting bigger, amazon is reportedly meeting with music labels over the past few months hoping to launch a music streaming platform that will compete with spotify. amazon offers movies and television for people who join its subscription service. members pay $79 a year for those perks. facebook is finding itself at the center of a controversy after teens and their parents have complained they were targeted with inappropriate and
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lose some underage users have been shown advertisements with. content and encouraged to sign up for dating services as encouraging the news and diet pills also been a source of contention, facebook says it is making an effort to combat those issues. cheryl: calling all fashion east ofs out there. a personal online shopping service delivers close right to your door. you keep would you like and simply shipped back what you don't. what is the cost and why is it working so well? joining me is the founder and ceo, thank you. harvard business school. you decided to entrepreneurship was the way to go for you. big risk. were you nervous when you took on the company and developed this idea? >> i was fascinated with consulting work in traditional retail, was really inspired by how much retail could be better so i applied with the intent to start a company while i was there and worked on it in tandem
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with my classes and was able to get the company off the ground and funded before i evaluated it in a. cheryl: people have great ideas and it is hard to get an going. you are based on the west coast, in san francisco. the company works this way, like bird box where you send the box to someone every month and they can keep all of it or none of it. what is the cost per month? >> we are lifestyle service. we have women who fell lot short online profile and based on that we have a stylist who will select for you specifically for you exactly package beautifully% and from those pieces you can keep what you want and send back what you don't want to. cheryl: there's a box on set with us that shows what the plan is and the idea behind this and it actually is on television a beautiful necklace. what if i don't like a necklace?
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i send everything back? >> there's a $20 filing fee when the to anything you keep. our customer is the busy mom, a working urban working out, we originally started, really inspired by this working woman who was time starved, rushing from place to place and found that profile is so universal. we are working in urban areas, working moms with two kids and providing fashion for women on the go and looking for an easy solution. cheryl: were you surprised your demographic basically working moms? i am sure -- birch box was a younger idea that picked up on a quick and all of a sudden the moms like this is great, we will take it, you have been expanding. >> very true. i thought of myself as the poor
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customer and the beginning and i don't have kids yet and now that i have friends with young kids, and taking a kid to a beauty, and the access to quality products, amazon has taken on. thank you very much. and over to you. adam: some guys have all the luck. latest allegations an incredible stock-picking ability of securities and cuts exchange commission employees. former sec employee elizabeth no wiki on what she calls an incredible blow to the integrity of our capital markets. cheryl: record breaker on wall street, stocks and rallying the day. the numbers to watch next, as in be finally breaking through the record last night, 257 and change right now.
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cheryl: stock for you, look at the dow 30, up 121 points. at&t is the only name actually that is in the red only by 18 points, $0.18 as you can see. let me show you what is going on with the s&p hitting a new intra-day high. here's the one year, looks pretty good. don't want to digress anybody but there's new enter day by the way so straight shot up here, we are in a rally mode. investors into the markets, they missed out, the market so beaten down in the month of january and into february, a lot of reasons for this. over to you, the s&p looking pretty good. >> we will take it. a new study suggests the sec
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employees may be using inside information to ttade stock saying, this is a quote, it appears sec employees continue to take advantage of stocks under regulatory purvey. the fcc countered, this is also a quote, each of the transactions was individually reviewed and approved in advance by the ethics office. most sales were required by sec policy, staff had no choice, they were required to sell but the study found they sold quite often at a profit. is the sec bending its own rules? we go to elizabeth noaa key and it is at the very least a black eye for the sec but is it an accurate punch that was thrown? >> hard to tell if it is an accurate punch. there has got to be more data out there, more analysis but certainly a black-tie, certainly casts a pall on the sec's
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activities. it is shocking quite frankly, shocking. a hard time believing $22 million of stocks sold, being examined in this study were released talks that had to be sold to the conflict. it boggles the mind. adam: we have seen the sec close ranks and hide behind the law which established the sec in cases like bernie madoff and other dealings, the stanford debacle. might they be doing that now? shouldn't they have an absolute transparent come clean on this to keep the public's faith in their ability to perform their function? >> they should absolutely be bending over backwards, being transparent, making full disclosure. my impression is they are still scrambling to catch up at this point. that is my impression. the study onlyycame out a number of days ago.
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the sec was 3500 employees, sort of a big slow machine so i think in the coming ten days, two weeks we will see more information from the sec. none best interests to share whatever information they are internally gathering regarding the study as quickly as possible. otherwise they're going to damage the reputation. ashley: i am not sure that is accurate methodology the filed a freedom of information act to give the information for their conclusions, they won't the information because private portfolios not the kind of thing the sec would turn over. you might have to raise fees or salaries dramatically. and avoid these complications. >> interesting you are saying that because i was thinking back to my time, the office of
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general counsel we have jurisdiction over everything. as opposed to division of corporation finance for enforcement. my recollection from many years ago is i had to celery stalk i held prior to becoming employed. the idea of banning individual stocks and forcing everybody to put their money in funds make a lot of sense. it will be a hard sell for the employees and might be too late to close the barn door and go back to that but that is the recollection that used to be the policy at the sec. adam: as far as the sec, is nothing if not accurate. congress, we know members of congress have traded on inside information. we got to let it go at this point. thank you for joining us. cheryl: the last day of february but good luck trying mother nature, brutal blast of cold
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sweeping across the entire nation just to give us january. it will be march tomorrow. adam: they are rolling out the red carpet in hollywood for oscar weekend but it may have to get some umbrellas out. that is good news in the drought area. winners and losers and possible wipeouts in the movie industry's biggest night. this is karen and jeremi. they don't know it yet, but they're gogonna fall in ve, get married, have a couple of kids, [ children lghing ] move to the country, and live a long, happy life together where they almost never ght about money. [ dog barks ] because rit after they get married, they'll find some financial folks who will talk to them about preparing early for retirement anbe able to focus on other things, like each other, whh isn't rocket science. it's just common sense. from td ameritrade. it's just common sense. millions have raised their hand for the proven relief of the purple pill.
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>> jo lin king click your fox business brief. portfolio manager mathew martoma was found guilty earlier this month of insider trading and is seeking an acquittal or a new trial. he was convicted for his role in illegal trades claiming jury bias and failure of prosecutors to prove he committed a crime. mattel is acquiring mega brands for $460 million. world's largest cornmaker will expand construction and building block oyster that a complete with lego, the number two replatemaker in global sales and a national association of realtors say pending sales of existing homes edged up in january by 0.1%, lower than the estimated 2% increase. sales rose in the northeast and the south offset by declines in the midwest and west. that is the latest from the fox business network giving you the power to prosper.
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adam: march will come in like a lion. huge weekend winter storm the entire length of the country with rain, snow, the totals, wind chill factors, let's live to the fox weather center, we haven't had enough, the line might be came to what we're seeing across a lot of the country. it is this right here, the precipitation part of it, the storm across the pacific ocean. it is a really powerful, well up storm, very significant winds and a lot of moisture pulled in. california needs rain. the entire state is under drought and a quarter of it at the highest level of drought, the worst that there is. we have significant rain, two
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inches around the l.a. basin. there is a threat for severe weather, we could see a tornado or two spin up here and certainly some strong damaging winds, power outages a possibility, the mudslides something to worry about, that is the price you pay for this amount of rain, and other three to five inches where you see these oranges of rain falling in and the highest elevations across the san gabriel seeing significance know as well. across the east take a look at overnight lows-25 tomorrow night for a low in fargo-19. this. is where it is below zero. moisture above this and we have the stage set for a significant ice storm so incredibly damaging, lot of power outages from around kansas city through st. louis and parts of pennsylvania. we are also along with this seeing some significant snow. so the parts of the central plains to the north of this
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icing. 6 oswald inches of snow to start your march. adam: no one is smiling. cheryl: none of us are happy. i am smiling. in the spring, march and april. black snow and all that. we are going to talk about things that are happier than the weather. >> the weather is good on oscar's son day. it is you and we do an extended version with you and what is happening in california but first they're going to get rain. >> it is going to put a damper on the red carpet but hollywood's favored oscar, the moment everyone has been waiting for essentials the the final prep for being under way, covering the rainy oscars on sunday, this year out of the
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possible 10 best picture nominees there are nine serum's up for the big prize lining out the coveted category, dallas buyers club, nebraska, the wolf of wall street, all amazing films, tough competition. the race for best picture will likely come down to two films, a principal war drama, 12 years of slaves, and the special effects thriller gravity, matthew mcconaughey likely to win for their work, the will of wall street star leonardo dicaprio could pull off an upset as he usually does. leading ladies fare best actors include meryl streep who has the most nominations ever by an actor with 18 meeting with her, amy adams, gravity and sandra bullock, judy-and what the allen, star kate blanch at and my personal favorite female comedian ellen degeneres hosting for the second time, can't wait to see what she's wearing, most
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likely a tuxedo. the viewing public will take their own votes on what they wear on the red carpet. most people talk about the best, they talk about the winners. >> not looking at the oscars. i will be half asleep or asleep. the question is it seems with the bid award shows, they are changing how they get to the audience behind the scenes web cast. and the audience is getting away from the light brown cassel. cheryl: a lot of stuff going on on line and last minute votes for different movies. do you have any favorites? adam: no. blue jasmine, bernie madoff. cheryl: gravity would be my choice for best pictuue. might as well say it now. >> leonardo dicaprio will get
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something. cheryl: he was overlooked. >> he is so talented. adam: i like when they play the music and cut them off. >> are they playing music right now? >> not wolf of wall street, with gravity, the director could go to gravity. absolutely, gravity has a lot of different nomination's going on. so sternly. cheryl: great acceptance speech. she wants to saying the channel. the latest blast of winter weather, the trading pits of the cme, we will take you out there coming up next. adam: of 15-year-old fetterman on why he ditched finance to cater to the vip set with his incredible many desserts. stick around.
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cheryl: natural gas on track to insist more -- four straight days, fox business contributor phil flynn is in the trading pits of the cme. natural gas is pouring back after the biggest sell-off in 17 years. how weather-related are we talking here? >> big part of it and a big part of it is where we end up in the year end storage. we had some breaking news from the energy information administration that basically gave us a new number for end of the year storage. the u.s. is now going to be able to store 4.332 trillion cubic feet of natural gas at the end of the retail season, usually october and november. that is where we have a backup supply if we have a very cold winter and after this winter,
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traders are wondering if that is going to be enough. look what happened this winter. temperatures have been very cold, storage has fallen to 1.333 trillion cubic feet. a lot of traders, they fall below the two bid seat at the end of march we might not be able to get back to -- that is the big debate in the market. that led the market is so sensitive to the weather, big spikes we're seeing up and down. once again getting cold temperatures, traders worry we won't hit that number and we're back up today. cheryl: thank you. adam: banker to baker, my next guest list left of the i stress world finance to found a bakery with the confident name. the owner of stud muffin desserts, any bonus you ever got at merrill or morgan stanley.
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>> i was looking to invest in food business, there is after performing market research and there was low-calorie, really tasted great, of there will be an opportunity to launch my own. adam: these come with the julie banderas seal of approval. cheryl: eating it in the commercial break. to order these, brick and mootar. this is that more rain cookie. >> and the web site, saidmuffindesert.com. and 11 of them have less than 150 calories. adam: you can sell this legally in new york and brick and mortar -- >> looking with investors on finding the right foot print.
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cheryl: packaging is great. adam: your buddies and friends, launched the site. >> a number of friends and financed colleagues not uneasy demographic to please but when feedback was so overwhelmingly positive i knew i had a successful product to bring to the market. adam: low-calorie good stuff with real ingredients, i always think of no fat, no sugar stuff that falls off of an asteroid. >> the secret is in size. cheryl: a chocolate chip, i felt satisfied. >> that is the whole point, you can indulge without the guilt because if it issbig labor the emphasis was really to give the best bite in each bite. adam: it would be roughly how much? $25? and where else? >> launching southern season
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stores and their own web site. which is studdedmuffindesserts.com. cheryl: it is funny i got to tell you. >> can't give them back. you can indulge with new ones. adam: seafood fried. cheryl: basket friday. let me know if i can enter other interview segments. as i grab the food. and more like a warning from the. maker's parent company deckers outdoor. adam: the latest on retail names beating earnings posting mixed sales and warning on outlook, the trade is next. (announcer) scottrade knows our clients trade and invest their own way. wi scottrade's smart text, i can quickly understand my charts, and spend more time trading. their quick trade bar lets my account follow me online so can react in real-time.
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adam: breaking news. shares of aetna are hitting new all-time high after the company announced a additional one bill
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dollar buyback. declaring a quarterly cash different vend of2 cents a share. cheryl: time for the retail round up. sandra smith with today's trade. sandra, deckers, disappointing big. >> they're saying ugg, because the backlog at deccaers, they make ugg boots and backlog was 24%. everybody is buying boots. they're a bit confused by the cautious outlook deckers is putting out there. maybe it's a little conservative. so they did lower their price target to $95 a share. 95 bucks for a stock at $74. they're keeping their buy rating regardless of cautious outlook. deckers is down 12%, down more than 12% on the session at 74 bucks. also, gap. this is really interesting one. gap also a little bit of a weak outlook. gap saying they're opening the first old navy store ever in
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china, opening some new stores. so gap shares up about a third of a percent here. and target getting two price target upgrades, one of which coming from goldman sachs can. stock is up a handsome 3.5%. look at target shares here. really struggling over the past year. so, target may be starting to pick up some steam. analysts turning bullish on the stock. guys, that is quick snapshot of major retailers. let me look at retail sector as i hand it back. retailers reacting to all the cold weather. a lot of green arrows, adam, cheryl, as i hand it back to you. cheryl: surprised to see lowe's down a little bit but home depot and lows benefited not just people redoing their homes but generators and things like that. >> going forward, home depoe says once the ice and snow melts everyone will head outside to fix their houses. home depot has a rosie outlook.
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cheryl: all the roofs with snow have to be fixed. good point. thank you, sandra. melissa francis is here to take us through the next hour of "money." melissa: that's right, we have such a jam-packed show today. in addition to the wall street throwdown which we love. we have the legend behind the are up bell in the jungle. don king is here. anyone not following what is going going on with gm. it is time to tune in because this situation is blowing up. we'll tell you how hard it can hit the auto industry. we're going live to a gm auto dealership because even when they say it's not it is always about money. jenna: we have two hours left in trading for the whole entire month. we're looking at the dow right now up 104 points. it is losing a little bit of steam. alan knuckman of trading advantage is on the floor of the

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