tv Markets Now FOX Business March 27, 2014 1:00pm-2:01pm EDT
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this guy is out of touch. what do you think? tracy: he is insulting himself. he is an old guy. people like me don't know how to use the internet. charles: we will leave it on that note. cheryl: using the internet, saying the internet. adam: microsoft making nice with apple. speaking in a few moments, his first public remarks on what could be the most important product in years for the tech giant. cheryl: game stop's president joins us exclusively after a disappointing quarterly report and the daunting competition from wal-mart on crucial used video game sales. adam: game charger for college athletes, national liberation the board determines college athletes are employees. i am adam shapiro. cheryl: i am cheryl casone. northwestern football players have potential to change the
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n.c.a.a. model. adam: what will happen if college sports can't unionize? tweet us at cheryl -- at cheryl casone. cheryl: unions make a ton of sense. and the biggest loser on the s&p 500. diving today after the video game posted fourth quarter earnings, analysts expectations. competition for walmart in their use video-game market, the company is diversifying in other fields. joining me exclusively is game stop president tony bartels. thanks for coming gone. good to have you again. tough to see the stock's movement today. what do you say to shareholders about what we are seeing in the market? >> there are some short-term
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profittaking taking place. we double shares last year and went through a transitional quarter where we had an exciting event take place, innovation back into the industry and it helped us drive growth so the way we look at it from a long-term perspective is we have a great growth cycle at of those. are marked models as for the next few years we will see a strong growth in the consols category and we are poised to take advantage of that as we have the highest market share in the video game industry. in addition we have growing digital businesses, strong mobile businesses and we are working with two great companies, the future is very bright. cheryl: you are really still hanging on to the x box momentum in particular, place station that you got in the fourth quarter because you did get a nice boost in same-store sales and revenue in the last quarter thanks to those components. are you worried you won't get the same boost until the next
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holiday season as in fourth quarter of this year? >> we feel optimistic about what is taking place. what we see is strong demand for the product. is difficult to find the ps 4 at any retailer including game stop and we sold more x box 1s than anyone else. there are strong demand for that. microsoft has done a better job keeping product in supply, and new ip comes out like tighten did a couple weeks ago, they are strong system sellers. we see investment coming back strong in the consul industry. cheryl: the business growing and changing we have to diversify with the times. and walmart offering to bring in used games and walmart by food and other items at walmart but maybe not games. walmart news are you nervous
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about this move by major company like walmart? >> we double the lot of competition in the trade business for many years. this is just another example. and a strong vibrant growing business. awareness is very long customer base. getting people know you can't bring your own video games and trade them for new video games. it is a great business, it is very complicated. it is high service high touch environment. your associates want to know what they're looking for, they want to tell the customer what they can get. you have the inventory risk. you can't take this every game, you have to understand exactly what the game needs to have with that as well as you need to make sure it is playable still. and you have to be able to take everything that comes in. people managing with bags full of games and if you can choose and say i will take this one but
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not this when you won't see customers return so we have been doing this for 15 years, we have good pricing elbow rhythms. we know what we need to do to make this work. we are not nervous about it. one of the things i love about this category. cheryl: you mention microsoft and we got some breaking news on microsoft. thank you so much for your time. adam: microsoft's event is kicking off in san francisco, the ceo is onstage, you can see part of a live feed. wall street expects microsoft to announce microsoft office, the office suite for the apple ipad is being updated as well as mobile strategies, the stock right now is off slightly, trading at $39.70 and we are going to get more for you from the event out of san francisco as such -- sasha nadella makes
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his first appearance on stage. nicole petallides is watching alcoa hit multi-year highs. nicole: take a look at the aluminummaker alcoa, lovely have not seen years, $0.77 at 1263 up 6.5% and two stories, what about the london metal exchange any court ruling as well as out, coming down with an aluminum wheel that is 40% later. the first story is the court ruled against a pending charge that changes the london metal exchange is working on. so far it is favorable for alcoa depending how long metal can be kept in warehouses. that is great move for alcoa and they have an aluminum wheel, 47% lighter and that is also helping them along as well. there is a look at aluminum overall so this is great news across the board. stocks hit a new high. cheryl: we're looking at alcoa,
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the s&p 500 as well so of big stocks to watch for all our viewers. thank you so much. we had this, the u.s. government is looking to get out of one of its big bailouts very soon. the treasury is planning to sell half of its shares in allied financial when the auto level goes public next week. is expected to raise $3 billion and will get allied financial and market cap of $13 billion. the government will have an allied stake of 14% and allied will be listing on the new york stock exchange. adam: a new all-time high as the medical supply company baxter announces it is splitting into two separate businesses, one business will focus on biopharmaceutical including treatment for hemophiliacs and other blood disorders. baxter expects the split to be completed in 2015. cheryl: turkey's telecommunications authority is making moves to block access to youtube after alleged audio
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recording of a meeting between top turkish official discussing military intervention in syria leaked to the popular online video sight. the youto ban follows a crackdown on twitter just one week ago in turkey. twitter target and after links to other recordings alleging corruption on the micro bloging site. ahead of local elections those will be held on march 30th. adam: twitter has a few announcements of its own and details about spotify, what you need to know with jo lin king. >> twitter shares bouncing back after hitting year to date lows on the announcement of a new partnership with bill board. the new strategy is all about conversations about music, and real time charts, attracting conversations among millions of tweets and celebrities you like
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to follow. this happening a week after twitter yanked its stand-alone music apps from the itunes store conlan and spotify might go public later this year, the streaming service moving toward the fall ipo for online publication. earlier this year, it got $200 million in credit, another step towards potentially going public and getting back from credit suisse, goldman sachs and morgan stanley according to the ft. but that the competition here. according to it is and research spotify was bogged down with a itunes radio, pandora continuing to dominate 31% of market share. speaking of ipos, the internet ipos, a king and can be crushed, in negative territory according to the logic, king is not very well but is better than yesterday, they are down 1.5%.
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not a lot of confidence from investors but slightly better than what we saw yesterday. so many puns about candy crush. adam: one hit wonders where you might start. cheryl: the downgrades are rolling in after citigroup fails to get the fed approval to award investors of higher dividends and stock buybacks. adam: a price tag for the recall, how much the auto makers addressing for the situation. adam: black mayor, john kent is coming up, spread over links in the company. we will have the latest after the analyst downgrade dragging down that stock today.
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move here. expand here. or start a new business here... and pay no taxes for 10 years. with new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at start-upny.com cheryl: update you and breaking news we have been following. you are looking at microsoft's event kicking off in san francisco. the ceo just catching up initial remarks and as you see he is using an ipad to showed the audience and journalists how microsoft would be integrated
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with mack. this is described as the 52, his words, counting, a world where everything is digitized, he bets microsoft's future, coming together a cloud of mobile and that is the future of microsoft and the focus is on what microsoft as a company can uniquely do to serve customers better but what you are seeing, there is a demo going on and that is what you are viewing on your screen. there is the stock at $0.39. adam: everything going digital. business alert, citigroup getting 3 to downgrade after the fed reject its capital plans. we head to the stock exchange for more from nicole petallides who is watching that stock take a dive. nicole: to the downside. we are watching obviously the annual press test of our banks and citigroup is one of five banks whose play out plans were rejected by the fed this weekend they plan on buying back $6.4 billion losing the dividends however that is not
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likely to happen now, citigroup downgraded by bernstein, also ubs cutting price targets downgrading stock in some way, shape or form, citigroup down 5.7% but this down great right now you can see lower but most banks do have down arrows. goldman is down a tenth of 1%. cheryl: just after the fed's annual stress test and its latest decision and capital plans top officials from banks and financial institutions descended on washington for the annual financial services round table spring conference. peter barnes spoke with some of them ahead of that meeting. peter: one of the things that happened this morning was the new fed chair janet yellen who regulates these companies came by to talk privately to b.c. e os and executives and one message they had for her and other policiesmakers is we understand as been a lot more
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regulation we have to work with post financial crisis, but be careful. don't overregulate and hurt the economy. >> one of the challenges is how to extend credit in the right way to apportion of the economy that today can have a significant impact in improving growth rates and we have to do that in a smart way, we have to do that the right way but if the answer ends up in three or five years there are fewer people banking, fewer people with mortgage loans, fewer people with a credit card then the economy is going to struggle to get traction and improve the growth rate in years ahead. >> you look couple years down the road until hours are changing the for the organization. the regulatory leaders understand it. i don't think their organizations made the inflexion as it is known at this point and that needs to be done.
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peter: message for regulators and policymakers from ceos and executives, find the right balance. cheryl: peter barnes in washington. update you on breaking news we brought you a few moments ago microsoft has announced office for ipad is going to be available 2:00 p.m. eastern time today. 44 minutes away on the itunes store. they just made that announcement. that just crossed during peter barnes's live report out of washington. stock is not reacting but we will keep monitoring what microsoft says. adam: microsoft playing nice because google is now the giant. i can see them playing in the sand box. college athlete school employees, and rolling upsets the -- athletes and students first and athletes second. cheryl: the sharing economy getting up to speed with the
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cheryl: we follow what is breaking and microsoft following giulio white, and microsoft office for ipad. and hoping this will be the product that will turn things around when it comes to office. by the way office will be available in 38 minutes from now. she has gone through xl and showed that and also show the ipad edition of power point, there's a laser feature on that. going into a particular as of office for ipad. adam: shares of microsoft are falling a little bit. there is more legal trouble and could be brewing for general motors and its massive car recall. according to wall street journal u.s. judge says he will consider
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a motion that will force general motors to tell customers to stop driving recalled cars until they are fixed. despite the company's plea the recalled cars are safe to drive into repairs begin in april. cheryl: let's bring in as liz macdonald. liz: good to be with you guys. an emergency motion, a texas judge is being asked to consider an emergency motion april 4th to basically tell gm you got to stop having these hard drivers driving these recalled cars. you got to tell gm to force these consumers to park their cars and stop driving them and that is a big deal. the federal safety and it does not have the power to tell gm to put these cars to the side of the road. only gm has the power to do that and that means this is the lawyers bringing this case in texas is victorious gm's cost will go a. we have to give out loaner cars. you can imagine jeff flock has
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been reporting, there's a lot of use recall gm cars on the road that are under this recall. all those cars have to be parked called park it meaning they have to be put to the side of the road and no 1 allowed to drive it that is a lot of money. that is exactly right. we are allowed to have barkleys with price tagging. what is going to happen when mary barrett takes to capitol hill this coming tuesday the ceo of gm and she is out with video saying all the cars safe to drive and the texas judge is saying i will consider this motion to say these cars are not safe to drive. barkleys is saying recalled cars to gm, $2 billion plus. adam: tesla, i went back to ohio. liz: back to ohio to get basically a deal struck or potentially ohio state legislature could say yes to tesla. you can't have retail shops in the state of ohio to sell directly to consumers. we got to see the map we are showing on the screen shows you
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where the tesla cars are banned. tesla can't sell directly to consumers. eight states restricting or banning 11 states that sell the to as low cars before those 11 are considering a ban. tesla hitting roadblocks but a small victory in the state of ohio. adam: if you have got a tesla there's a huge pot hole always. right before you get over it very be very careful. they like that battery pack. cheryl: let's go further west for your west coast minute. japan's second largest airline passenger traffic adding to its fleet with several new airbus jets and that could be rough going for west coast favorite bowing to. this $65 billion deal may somewhat overshadowed the announcement that it will continue to buy boeing's trouble 787 dreamliner for 14 additional beds added to an existing order.
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there is optional tax in portland oregon from air b&b, the travel rental site which matches homeowner with potential vacation tenants would begin charging taxes on some of its in apartment and home rentals. the judgment seems to go against air b&b's mission it is under pressure to comply with laws in some of its cities. nearly $10 billion. can you say ipo? university of california president janet napolitano has some harsh words for online education. the former department of homeland security secretary saying online education is not a panacea. it is not for everyone. is not cheap. it doesn't save students money. that is what she said. reconnaissance -- pushing hard for wider spread online education in the golden state. adam: microsoft, ceo's debut as the stock hits levels no one has seen in 14 years. cheryl: the analysts take on the
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adam: update on microsoft's big news. announcing its new office suite for the new apple ipad and new focus on mobility and the cloud. we have the a senior technology analyst joins us now. colin's, microsoft shares hit levels we've not seen since 2000 pulling back a little bit on this news which sound to you like a big sleeper? >> 190 million ipads sold later, microsoft decides they want to get office on to this platform. that's good news. they should be doing that but
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the concern here is, we all know the pc market has been in decline. seven straight quarters of decline. that is unprecedented. we'll sell 2.5 billion computing device this is year and only 315 million will be pcs. the landscape is changed. with everyone using tablets and phones and android is predominant and apple ios. microsoft windows revenue sunday pressure but office has been carrying the results. the concern there will be derivative spillover that will impact office. while today's news is welcome but it is quite late. adam: very late it would seem. why did investors drive this up to levels we haven't seen since 2000? he is saying everything will go mobile, digital but are they ready for it? is microsoft in position? >> change in leadership has gotten people excited for microsoft in their position because they do have a strong cloud business and you know that is an area where he was
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providing leadership and that is the person they picked to become ceo. they will focus on core enterprise, cloud business, office 365, releasing that for ios and tablets today is a step in that direction but there is lot of hard work he need to execute against. particularly with the nokia acquisition about to close, i would be cautious of the stock at these levels. adam: talk about their competitors. google. you can get the google office suite free on android operating devices. if you're buying this stock right now, betting on this microsoft office offering that is a long decision. >> that is probably not what you want to be doing. in fact the structural issues that he is facing as ceo haven't been fixed. he has not fixed them yet. they will take some time to unwind. the number one selling laptop on amazon is chrome book. the number two selling laptop on amazon is chrome book and not using any microsoft products. adam: how does microsoft defend
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itself in the cloud for big consumers in digital space? you've seen price drops at google. you've seen price drops at amazon. it is as if everyone is undercutting expenses to gain market share? >> correct, there will be a race to the bottom and winner will be able to take most of the profits. usually these type of markets resolve into two players, predominant and secondary player. microsoft is entrenched in enterprise. we're all using pcs at work. a lot of startup communities are bringing devices and people bring tablets to meetings. it will take a long time for the base to change. adam: in 20 second, 14 years we watch the stock essentially flat line. >> yeah. adam: what is the biggest problem they face to avoid another 14 years of nothing? >> the fact 2.5 billion devices are being sold and only 300 million of those will be pcs. adam: only 300 million pcs. microsoft better get ready. thank you very much. cheryl? cheryl: adam, we have got a business alert for you.
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blackberry getting cut to sell from hold by societe generale. analysts expect services revenue to fall for the smartphone maker due to lower subscriptions. ceo john chen post ad blog on company's official website venting about information links to the company. the chance that is company will take legal action against anyone who disclosed confidential information. a couple things i want to point out, the chart tells the story when it comes to blackberry shares. stock is at 8.88 right now. two week-low was $5.44 a share. credit suisse with neutral. citigroup rate ad sell rating on blackberry. bbry. there you go, adam. adam: colin talked about the a race to the bottom going for the cloud. amazon announced price cuts for cloud services including the s-3 storage service and new conclude computing program.
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this comes after google announced price for its cloud service. amazon cloud services received authorization to work with the department of defense to host projects like public-facing websites and open data sets. cheryl: wow. all right. stalling, stalling auto sales. jeff flock will go one-on-one with ford's executive chairman bill ford. his take on the economy. what kept shoppers away from the dealership last month. adam: athlete first a student second? the historical ruling for the sports world that says college foot ball players are eligible to join a union. tweet us what you think. ♪ [ cows mo] [ sizzling ] more rain... [ thund rumbles ] ♪ [ male announcer ] when the rld moves... futures move first.
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or start a new business here... and pay no taxes for 10 years. with new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at start-upny.com adam: more business headlines in this fox business brief. hyatt hotels nouns they will introduce two new brand in china of the chain is planning to build 20 hyatt place and properties. first hyatt place will open near hong kong. hyatt house is aimed at extended stay travelers. hyatt will have six of its nine hotel brand in china. u.s. pending home sales fell for the 8th straight month in february. the national association of realtors says seasonally adjusted sales index will drop, .8 of a percent. the index has fallen more than 10% over the past 12 months.
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cheryl: all right. in a possible game-changer for college athletics, the national labor relations board is ruling that northwestern university's football team can unionize. rich edson joins me now with more. rich? >> cheryl, supporters say this is a long overdue ruling. opponents, trike striking basketball team demanding bigger dorm rooms and less practice hours. college scholarship football players are employees and not primarily students.
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ordering an election to give the players an opportunity to unionize. the ruling says, quote, the players spent 50 to 60 hours per week on their football duties during a one-month training camp. not only is it more hours than many undisputed full-time employees work at their jobs, it is many more hours players spend on their studies. one former college and professional athlete agrees. >> i think it was a long time coming. i think a lot of college players and, at these schools feel like there should be some sort of compensation and i just think it was a matter of time that some was going to address it. i mean if you pot to be at practice, if you, without excuse, if you got to be there on time without excuse, if you have to put in the practice without excuse, sound like employee to me. >> northwestern says it plans to appeal the decision to the full nlrb board n a statement the university says, quote, northwestern believes strongly that our student-athletes are not employees but students.
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unionization and collective bargaining are the not appropriate methods to address the concerns raised by student athletes. the appeals process will go through the nlrb and possibly the court system. one labor attorney said this could take two to three years to resolve. also the nlrb's original decision only applies to northwestern players though could extend to other athletes at private universities. back to you. cheryl: rich edson, live out in d.c. adam: that is not the last word on this joining us for moretheln exutivd wh "." ankouoini us. wle umt he n' th i v pula , alege athle i individual. why not allow them to ve t ability to earn better than just the scholarship from their ability and, join a union? >> well, i think that the colleges would argue that really what they're trying to maintain is the control and that's what they want to be able to do. they want to be able to control the athletes.
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view is the be ablo dic athletes, at least those on scholarships are already compensated. they receive small stipend and scholarships which are not cheap these days at most schools. cheryl: look, this is coming from the national labor relations board. frankly it's a regional board but a very left-leaning group of people. certainly to give power to unions in college, i mean, do you really think that is such a great idea? isn't there another way to bring fairness to college football and hours without them unionizeed? you want jimmy hoffa running football programs? come on! >> i think he is over at the giants and jets stadium. carl banks, used to hear his voice coming from the background there when they were practicing? well, look this is about power and money, surprise, surprise. i think this is being underwritten by the united steelworkers union, right?
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so, what they see is a tremendous windfall in money over the last several years, based on these billion dollar tv contracts and so forth and they wan a piece of that. i think where the ncaa made a mistake in my opinion was, for example, like johnny manziel wanted to make some money marketing and merchandising some products, right, at texas a&m? they should have let him do that. they should let athletes do that. that doesn't cost the school any money and would not detract from taking money from other programs that don't generate the revenue that college football and basketball do. i mean one of the things is, you don't hear a lot of the be female athletes coming out in support of this, along with the other lawsuits that are going on by the way, regarding how much money college athletes should get because potentially this could detract from their sports. big-time college football and big-time college batket ball funds everything. that's right. adam: let me ask you this
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question, will it destroy what we have come to enjoy as college football games? i mean is this potentially a game-changer? we're talking about amateurs who are now going to be at least quasi-professionallals. >> it depends how far this goes and i hate using depends but because you have two other big case that is are pendings right now. just about a week 1/2 ago there was a huge class-action suit filed on behalf of college athletes saying that they're not getting their fair share of revenue. and then you have the ed o'bannon case of former college athletes say, hey, schools shouldn't be able to generate money from our images or like images without us getting a piece. so i think what the ncaa needs to do is bring all this together before it goes into the courts and sort of is settled in a hodgepodge sort of way. or, might i say even worse, somehow get thrown to congress. cheryl: you're saying pay them but, you know, the idea of unionization is a little
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farfetched? >> yeah. look, unions have never given you a better product, right? cheryl: desperate for members. this is what they're doing. this is grab for membership. adam: michael, i learned a long time ago, she gets the last word. "forbes" executive editor. thank you for joining us. >> thank you. cheryl: well we asked and you answered. what would happen if college sports unionized? one of our regular guests tweeted, going to be a short-term mess. will take years to shake out how they will all be treated and regulated. title ix and third he had it tweeted, outrageous college sports is tainted by greed and selective philosophy. adam: greed, at the college sports level? i'm aghast, right out of "casablanca." >> what has lululemon investors jumping about today despite a lackluster out look? adam: twice as nice for major league baseball. inside the mlb expanded replay center with three days to go
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adam: more on microsoft. ceo satya nadella. the neck giant unveiled office suite for apple ipad and cloud data. the new office suite goes live at apple app store at top of next hour. for existing office 360 subscribers the app will be free shares of microsoft trading down slightly but still 14-year highs for that stock.
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cheryl. cheryl: we have stock alert for you right now. nicole petallides on floor of the new york stock exchange. you're watching lululemon. the company beat up but the stock is in the green, nicole. what is going on? >> first concerns about the latest numbers that lululemon delivered as well as weaker traffic for customers walking into the stores. the new see. who can from from toms, the shoes everybody loves and did a talk about expansion plans for europe and asia. saying that these countries are really ready for lululemon. also gave a glimpse into some seasonal wear, that seasonalware is selling four times faster than they anticipated. gave guidance for the company better than expected, and expansion plans globally and that's why you see the stock jumping big-time. back to you. adam: thank you very much, nicole. basketball been very, very good to me. our fox business sports minute. things will look a lot different for baseball fans come sunday night. the dodgers, padres game will be
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the first to use major league baseball's replay operations center a 900 square foot room in new york city that is called the nerve center of expanded replay system. they haven't seen the newsdesk at shepherd smith's studio. every play of every game subject to review analyzed in one view. one umpire and one trained technician. someone who will be playing close attention to the replay center. decker rec jeter is ranked 11th greatest leader in the world by "fortune" magazine. he begins his 20th and final season, fortune says, this is quote, jeter remains a role model that red sox fan begrudgingly must accept. he has old school approach and never offers excuses an gives less than maximum effort. we hope pope francis is first on the fortune list. tonight, dayton, dayton taking on stanford at 7:15 p.m. this is the first times have
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met, dayton making 7th sweet 16 appearance. badgers also hit the hardwood in the 7:00 p.m. eastern hour against baylor. smile what you say that. looking for a little west coast action, ucla takes on florida, 9:45 eastern. fun fact. florida, knocked ucla out of the tournament three times in the past four years. st state takes on top dog arizona. cheryl: go arizona. all right. microsoft ceo satya nadella making headlines today. it wasn't too long ago that former ceo alan mulally was rumored to take over that role. still to come, jeff flock talks with ford executive chairman bill ford what the future holds for mr. mulally and the automaker in general. ♪ i've always had to keep my eye on her...
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new at&t mobile share value plans our best value plans ever for business. when folks in the lower 48 think athey think salmon and energy.a, but the energy bp produces up here creates something else as well: jobs all over america. thousands of people here in alaska are working to safely produce more energy. but that's just the start. to produce more from existing wells, we need advanced technology. that means hi-tech jobs in california and colorado.
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the oil moves through one of the world's largest pipelines. maintaining it means manufacturing jobs in the midwest. then we transport it with 4 state-of-the-art, double-hull tankers. some of the safest, most advanced ships in the world: built in san diego with a $1 billion investment. across the united states, bp supports more than a quarter million jobs. and no energy company invests more in the u.s. than bp. when we set up operation in one part of the country, people in other parts go to work. that's not a coincidence. it's one more part of our commitment to america.
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adam oilushg hhers inntor at y hub hub ntin to drop. phil flynn at pits of cme. tell us more, phil. >> you would think that the big at the gulf coast. with the gulf coast shut down concerns that gasoline demand actually hay may be improving at a time when refiners are down for maintenance. you put it all together it is difficult to be too bearish this market at this time of the year. definitely across the board, heating oil, gasoline up. maybe a technical breakout. but you can't underestimate the impact of tensions with r andains wp to happening with nal gas. >> we had another inventory report. we sell to 896 billion cubic feet of total storage. what that means is it is growing to take a yeoman's effort to get pack to 4 trillion cubic feet by the end of the summer this is going to be the biggest debate had this market this summer. can we get close to full storage
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ahead of next winter? if we get hot summer or get some type of a hurricane this market could really pop. the market is on edge. we're up a little bit today. >> pay attention to phil flynn. thank you very much. cheryl: the great-grandson of the man who revolutionized the american manufacturing industry keeping his eye on the future of the auto industry. jeff flock joins us with more on his interview with ford executive chairman bill ford. jeff? >> bill ford talking to us exclusively today about the death of his father, recent death of his father, future of alan mullally, the ceo of ford and current auto industry recovery. take a listen. >> if you look at this whole recovery, it is a steady as she goes this type of thing. typical recovery in the auto industry, you go through tough times and big hockey stick up and fall off again and big hockey stick up. this is slower, more stained recovery. we feel that will continue. >> last time i asked you this
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question a few years ago, like it until he is dead. >> don't want to wish anything on him. alan has been great. we developed a really good team that is ready to go. >> how does that benefit you today. >> people still remember that. our corporate reputation was something that was enhanced by that and i think many people's, you know, it still is vivid in many people's mind. because i got a lost letters from small business owners, hay look, no one bailed me out. you did things the right way. stay the course. you're doing the right thing. and just having his support during that tough time, meant a lot to me and a lot to the rest of the family frankly. so, i was very proud of our family and how we hung together during a very tough period. shows the love we have for this company. maybe it sound trite in today's day and age to talk about loving a company but it is true.
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look at average tenure of ceo it has gone down a lot over the last 20 years and part of it is i mentioned earlier today, you know, these used to jobs where you could go home at night, there wasn't a cell phone. there was no email. there were no texts. you didn't operate as globally as you do today. you know now you have to be available 24/7. that does, that really, i don't care who you are, that's a tough thing. >> maybe a hint there a little bit that alan mulally's tenure may be at some point coming to an end at ford. tough job being ceo. good pay though, good pay. cheryl: jeff flock. we got a lot of witter responses on our question to all of you. thank you for writing us tax you canning about the fact that should college football be unionized. most of you said no. adam: worried about ruining the game and future consequences of this, too many things. cheryl: certainly pay them, melissa francis. you could pay them but to unionize college football? what would that do to the game?
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>> there are a couple angles on this you guys haven't talked about yet. we have a really interesting one coming up a little later in the show that no one's talked about yet. did "candy crush" the ipo market? our activist investors playing by the rules? they're according a new report they're tipping certain people off to their trades. wait until you hear this. even when they say it's not it it's always about money. melissa: the tech tippingpoint. the king ip oft on the cover of today's "wall street journal" calling it, the worst ipo of the year. has "candy crushed" the tech rally? here "wall street journal's" veronica dagger and trader larry shover from the cme. charlie gasparino is supposed to be roaring on to the set any moment. we'll see if he makes it. veronica, we'll start with
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