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tv   After the Bell  FOX Business  April 17, 2014 4:00pm-5:01pm EDT

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health insurance which she just could north afford. and the question now becomes, if in fact this is working for a lot of people, but there are still improvements to make, why are we still having a conversation about repealing the whole thing and why are we having folks say that any efforts to improve it are somehow handing obama a victory? this isn't about me, and my hope is that we start moving beyond that. my suspicion that will probably not happen half november. seems as if this is the primary agenda item in the republican political platform. here is what i know. the american people would much rather see us talk about jobs, would much rather see us talk about high college cost. would much rather see us discussing how we can rebuild our roads and our bridges, our
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infrastructure and put people back to work. they would much rather see us to talk about how we would boost wages and boost incomes, you know, improve their individual family bottom lines, and if the republican want to spend the entire next six months or a year talking about repealing a bill that provides millions of people health insurance, without providing any meaningful alternative and instead of talking about jobs and economic situation of families around the country, that is their prerogative. after the some point i think they will make the transition. that is my hope anyway. if not, we'll keep on doing what we're doing. making it work for people all across the country. i'm sorry, i'm going to say one last thing about. just because this does frustrate me. states that have chosen not to
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expand medicaid for no other reason than political spite. you have five million people who would be having health insurance right now at no cost to these states, zero. cost to these states. other than idealogical reasons, they have chosen not to provide health insurance for their citizens. that's wrong. it should stop. those folks should be able to get health insurance like everybody else. isaac, from "politico." where are you? >> hi, mr. president. given all that you were just saying about the affordable care act do you think it's time for democrats to start campaigning loudly and postively on the benefits of obamacare? will you lead that charge? and on ukraine, you said, in other situations iran, for example, that the military option remains on the table even as talks go on. is the military option on the table with russia, if so would
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that be through nato forces and or threw military aid through ukraine. >> i made it clear that military options are not on the table in ukraine because this is not a situation that would be a mennable to a clear military solution. what we have to do is to create an environment in which irregular forces disarm, that the seizing of buildings cease, that a national dialogue by ukrainians, not by russians, not by americans or by anybody else, but by ukrainians takes place. they move forward with reforms that meet the interests of the various groups within ukraine. they move forward with elections. and they start getting their economic house in order. that's what is going to solve the problem. and, so, obviously russia right
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now still has its forces amassed along the ukrainian russian border. as a gesture of intimidation. and, it is our belief that and, not ours alone, but i think, broad portions of the international community belief that russia's hand is in the desare up shuns and chaos that we've been seeing in southern and eastern ukraine but there is an opportunity for russia to take a different approach. we are encouraging them to do so. in the meantime we're going to prepare additional responses should russia fail to take a different course. we've already had an i am pang on their economy that is well-documented. it could get significantly worse. but we don't have an interest in hurting ordinary russians just
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for the take of it. our strong preference would be for mr. putin to follow through on what is a glimmer of hope coming out of these geneva talks but we're not going to count on it until we see it and prepare what our other options are. with respect to the affordable care act, we've been having a political fight on for five years. we need to move on to something else. that is what the american people are interested in. i think democrats should forcefully defend and be proud of the fact that millions of people like the woman i just described, who i saw in pennsylvania yesterday we're helping because of something we did. i don't think we should apologize for it. i don't think we should be defensive for it. i think there is strong, good, right, story to tell. i think what the other side is
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doing and what the other side is offering would strip away protections from those families and from hundreds of millions of people who already had health insurance before the law was passed but never knew if the insurance company could drop them when they actually needed it or women who were getting charged more just because they were a woman. now, i'm still puzzled why they have made this their, their sole agenda item when it comes to our politics. it's curious. but, what i intend to talk about is what the american people are interested in hearing. our plans for putting people back to work. our plans for making sure our economy continues to innovate. our plans to make sure, i discussed yesterday, we're training people for the jobs that are out there right now and making better use of our community colleges and linking them up with businesses and how we're going to continue to bring
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manufacturing back the way we have over several years. and how we're going put more more money in the pockets of ordinary people. so if they want, if republicans want to spend all their time talk about repealing a law that's working, that's their business. i think democrats should do is not be defensive but we need to move on and focus on the things that are really important to the american people right now. david jackson. >> yes, sir, thank you. one reason republicans talk about there are people object to the law and had problems with the law and there are significant number of opponents to the law. i guess my question is what makes you a significant majority of american people or voters will accept this law? are we destined a health care a 50/50 red state blue state argument years to come? >> i think you're mixing up two things. you said there are people that seen problems with the law. that is not 50% of the american people. there may have been folks who may have been affected in bays that they weren't happy about by
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the law. that is a false, far smaller numb bern that the millions who have been signed up. that doesn't mean we shouldn't be concerned about it. that is an area where, as i said to tamara, we should be open to other ways that we can make it even better. so that's, you know, objective facts and real problems out there. the other side of it is just polling, right? what the general opinion of the law. which is attached to general opinions about me or about democrats and partisanship in the country generally. my view is that the longer we see the law benefiting millions of people, the more we see accusations that the law hurting millions of people being
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completely debunked as some of you in the press have done, and the more the average american who already had health insurance see it is not actually affecting them in an adverse way, then it becomes less of a political football. which is where i want it to be. this shouldn't be a political football. this should be something we take for granted. that in this country you should be able to get affordable health care regardless of how wealthy you are. now the larger issue about whether we can move past the -- past the polarization and, sort of the bitter political debates between democrats and republicans of which obamacare is just one small part, you know, that's going to take more time. but it's not, for lack of trying on my part and i think that i
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speak for all democrats in saying we would much prefer a constructive conversation with the republicans about how do we get some stuff done? let's focus on some areas that the american people really care about. on jobs, we know that infrastructure would put people back to work right now and would improve our economy for the long term. didn't used to be a partisan issue. why aren't we coming up with away to make sure that we're rebuilding our roads and our bridges and improving our air traffic control system? there is no reason that has to be political. there really isn't any idealogical disagreement on that. and i guaranty you after this winter, if you look at potholes that are the size of canyons all across big chunks of the united states that people would like to see, an infrastructure bill. let's get it done. >> how long before health care ceases to become a political football do you think? >> i think it is hard to say.
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it is interesting, i spoke at, you know the lbj library the other day, you know, most of us weren't around to pay it real close attention to those debates, or they're pretty distant now in the past. apparently it took, you know, several years before people realized, hey, medicare actually works and it is lifting a lot of seniors out of despair and poverty. so we've been through this cycle before. it happens each and every time we make some strides in terms of strengthening our commitments to each other and, you know, we expand some of these social insurance programs. there is a lot of fear-mongering and there are a lot of political argument and debate and a lot of accusations are flung back and forth about socialized me sin and end of freedom. it turns out, it is working for
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at love folks and we still live in a free market society and, constitution is intact. then we move on. i don't know how long it is going to take. meantime how about focusing on things the american people think about. all right? thank you, everybody. >> mr. president -- liz: president obama very clearly saying that eight million people have now signed up for the affordable health care act insurance and he also said that the demo, rich, a bit younger this time which was a big question for a lot of people who are looking into this. but also addressing the ukrainian situation and he said, quote the russians need to get on a path to democracy there. they did sign on to certain issues today. of course we saw the markets rally on that overseas. rich: absolutely. there are a lot of questions, especially remaining in ukraine. president obama making the case here we've seen some pro-russian groups. the agreement for the pro-russian groups to leave the
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buildings they're occupying. however he wants the russian government, vladmir putin to use its influence to remove those groups. depending on how they react, how the russians react to that and what kind of influence they can apply in ukraine, depend if the u.s. continues sanctions. liz: one more headline here. there has been an offer according to the president, amnesty to the militants who are pro-russian. he said the russian side signed on to that. appears the now the tensions are calming down but he says levels of credence he puts into it. rich: a very, very skeptical president obama. he says military force is not on the table. liz: well the technology sector which has been crumbling over the past month with some internet names getting hit the hardest kind of came back today. one analyst says investors will find some bargains in what tech rubble is left. he is here to tell you where next. rich: plus sandisk reporting record first quarter results and the street seems to love it with the stock up more than 10% and
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more than 15 analysts raising their price targets today. we'll ask sandisk's ceo what he is seeing this quarter and whether you will see its products next. liz: up ahead, forget oil, gold, real estate. one is putting money to work in hair salons. one in particular he calls them the tiffany of hair salons. what he think is the best investment. rich: what is the best alternative investment. tweet us @fbnatb. your answers later this hour. ♪ [ male announc ] what if a small company
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the close a little bit. i agree what you said earlier let's start to take advantage some of these selloffs. go back a week to the non-farm payroll two weeks ago, we had blow off highs and bad chinese numbers and maybe some good chinese numbers. more draghi talk about maybe some qe in europe. the market is discombobulated here. it doesn't know which way to go. we have to look at the 10-year. that wit be the truth serum. if you see the 10-year trading 2.56 level and stablize there, i think it is okay to get involved with stocks for a rally back ups because i think we'll see some sort of qe out of europe some time soon here. rich: craig, let's talk about the rest of the year here. do you see because of problems with the winter that we could get more momentum as we get further into the year here? >> well that's a great question. i think, you know, the market has gotten a hall pass so far for the year given the winter vortex we had seen. i think it is important to think about what we've seen in typical
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seasonality in midterm election years. in words of mark twain, history may not repeat itself but does tend to rhyme. 2014 is playing out every single midterm year, since 1930. strong q1, weak q2, possible weak q3 and strong q4. what we heard from the president sounds like things will heat up in washington. that will add to more concerns about what is happening in the country and we're going to see more probability in the marketplace. liz: when you say heat up, you mean pushback against republicans. we had that old battle we've had to deal with the past several years. when you talk about history rhyming with the broader market, again during midterm elections we tend to see a little bit after correction and then a comeback. drew kanaly, what do you do as investor what you know history has shown in the past and what you know might be coming? >> we say around here, shelter in place. you will want to hang in here this year and you will see this
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kind of volatility. these pullbacks will be buying opportunities. you are in a secular bull market in stocks. you're in a secular bear market in bond. money is going to continue to make that rotation from bond to stocks throughout this year. the stock market is not going to get away from you. what are we expecting? single-digit gains in earnings this year? you're just not going to see a multiple expansion this year. so any kind of pullbacks are a buying opportunity and it will be more of the same for the next three quarters. probably, i would guess i would say, the fourth quarter is probably our best shot at some nice gains. rich: scott, how much of the run-up in oil has to do with ukraine? what about what we heard today from what happened overseas? is that good news for oil? give us your take on that one. >> well i think that there's probably four or five stories going on in oil and one of them obviously will be geopolitical tensions. ultimately think this.
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we're trying to get into recovery here in the states and with the oil price at 103, 104 or even over 100 i think that will ultimately slow us down even more. a tax we pay every week. what we say as traders behind me, cure for high prices is high prices. we have analysts calling for a little bit higher here. at some point in time there will be consumer pushback or oil prices will come off or we can't get out of our problems already. food energy inflation is real. you feel it in your pocketbook every week you fill up. liz: scott, draw, we appreciate it so much. we appreciate you coming on. rich: among today's top performers was sears surging higher, closing the day up 14%. liz: a long time since we've seen something like that. let's head back to adam shapiro on the floor of the new york stock exchange about sears. adam. >> we're talking about sears holdings here. part of that has to do with an insider, an independent director. he had purchased 475,000 shares at total cost of $15.9 million.
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sears holding up 14% today on that news. year-to-date they're down actually 3.5%. in the month of april they're down 1% but this was a good beast for that stock. if you're thinking tish name sounds familiar, he was on the board at kmart in 2003 when they went into bankruptcy. was helpful managing them through the bankruptcy and sears holding buying kmart back in five. back to you. liz: thanks, adam. investors seeking opportunities in banks may want to look a long ways away from that bull on wall street. we'll bring you the name of some undiscovered banks that could provide you and your portfolio high stock returns. >> how about a possible new iphone and ipad feature tuned perfectly for music lovers? we'll have a sneak preview in just a moment. ♪ we asked people a question,
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xfinity on demand. all the latest episodes. all included with your service. it's like hi-fiving your eyeballs. xfinity...the future of awesome. rich: after a massive run-up last year, the tech sector stumbled over the past month with many once high flying internet names leading the plunge. liz: we have got someone who says don't fret at all. time to add some of the beaten down stocks to your portfolio. joining us, aaron kessler, raymond james internet analyst. aaron, if you subscribe to the warren buffett way of jumping in when everybody is running away the timing does seem right but have we seen enough of a pullback where enough air is coming out of very tense bubbly type atmosphere with the tech names where it is time to come back in. >> i think you come down a lot here. a lot of names in our internet space are down 30% year-to-date.
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especially ones up 100% last year. hard to call an exact bottom. we think we're a long way there on the internet space now. rich: a ron, what are your thoughts on google? if you like google did you find cost per click troubling at all in the earnings report yesterday? >> cost per click was down 9% year-over-year. a little lighter growth on the click number which was 26%. we were around 28%. part of that we think was network growth. they're seeing slower growth in some their network partners u.s. look at revenues on google.com, revenue was right in line with estimates. lower licensing and higher operating expenses were negative in the quarter. that said we like google in the longer term. we think the valuation is reasonable 17 times x cash. we still like googling. liz: we know that the social media names are so-called momentum stocks or kind of
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cultish kind stocks. do you have a name? because some of them certainly have been sinked. do you have a name you like out of all the social media opportunities? >> we're still very positive on facebook. we think q1 there will be upside. street is looking down 8% well. think they can come down more like mid single-digit number on the quarter and we think the stock can get back to our $70 price target. growing users 30% year-over-year in terms of minutes spent, time spent as well as advertise remembers seeing big adoption from at love advertisers, both performance-based advertisers as well as brand advertisers. we think facebook is belle positioned inner in term here. rich: aaron, you told us home away is good value pick. where do they fit in and competition with airbnb and arbo? >> home away is leader in the space. we think there is ream more than one player. there are seven million units overall. 10% are online. we see a secular growth for
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vacation rentals. airbnb there is speculation there would be a $10 billion financing deal. hard to say that is true. would be attractive acquisition candidate as well. they're starting to roll out pay per booking platform versus just subscription. we think that will start to get more traction in the market. liz: what worries me, aaron, 12% of the float is shorted. that is not as bad as something like tesla out there. does that concern you do have a few sharks circling this name? >> we see that in a lot of high flying internet names and higher volatility names. not too surprising. it is not traditional pe metrics. we think ebitda margins can be 40% plus longer term, growing revenues, roughly 15 to 20% long term, we think long term is very attractive for home away. rich: thank you, aaron kessler. >> thank you. rich: forget about jpmorgan, citigroup or goldman sachs. if you're look to cash in on the
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bank being sector, one analyst says it is time to think small. we're giving you undiscovered banks that are poised to give you big returns. liz: yeah, not big like jpmorgan or bac but not those big names. plus imagine never having to bring cash or plastic anywhere you go? one company has invent ad way for to you pay with just your hand. details on that next. ♪ ♪
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liz: time for a look at today's market drivers. at the end of this holiday-shortened trading week it was a positive week for all three major indices. the dow and the s&p posting their best week of 2014. all 10 s&p 500 sectors ending the week higher with energy and industrials leading the way. we had oil closing at its highest level in more than six weeks driven by uncertainty in ukraine. crude climbing .5 of a percent to settle at 104.30 per barrel. guess what, early this morning we got u.s. weekly jobless claims. they rose less than expected last week. remaining near their prerecession levels, hovering this is good thing, near a six 1/2-year low. number of americans filing for first time unemployment benefits ticked up 2,000 to seasonally adjusted 304,000.
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rich. rich: down really matter whether you're a fan of google's android devices or apple's iphone. odds are if you own a smartphone it uses technology made by sandisk. liz: shares of the stock, check it out on your screen, if you can't see it because you're driving and listening to channel 113 on siriusxm, up nine 1/2%. as continued growth in mobile devices helped the comppananyy t record first quarter results. let's bring in the man at the helm, sandisk's cofounder, ceo, president and uc berkeley graduate just like me. that's why we like him so much. sanjay, these numbers are so great. you tend do this. you kill it on numbers and beat both on top and bottom line and your stock respond extraordinarily postively. tell us what was really at the heart of the growth this time around? >> thank you for having me on the show, liz. first quarter was excellent execution across all fronts on our strategy. we really did very well in terms of continuing to shift the mix
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of our product solutions towards high value solutions such as solid straight drives. solid state drives became 28% of our revenue in the first quarter. our retail business did very well as well on a global basis. sandisk, we believe in technology, products, customer engagements, really executing very well on all fronts. rich: sanjay, when i want to run and listen to music, i run a lot, folks say to me, why don't you just use your iphone? i am holding here a sandisk clip, people kind of laugh at me when they say, i got my garmin watch, i have my sandisk clip, just a regular mp3 player. i love this thing. it replaces the sandisk sensa for six years. are there any people like me? do people like to buy regular mp3 player? is there any growth in that space. >> first of all thank you for being loyal fan, no thank you. thank you.
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>> and of course our product, mp3 capabilities are moving into smartphones, right? the kind of experience you enjoy on the mp3 player, the clip, is now being enjoyed through our flash storage in devices such as smartphones, tablets and others. sandisk bring out the next generation products that continue to give you richer experiences in your smartphones in your tablets, in your laptops notebooks, in terms of faster access to data. smartphones running full video clips high resolution pictures and of course thousands of songs as well. we're continuing to expand the possibility of storage across multitude of devices. not just consumer devices but moving into hyper scale data centers. liz: we were sitting in our meeting, our morning meeting, everybody opened up their blackberrys, yes we all have them because they're relike,
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everybody had a sandisk piece right in there. obviously you're doing well there. i guess the big trend now i talked to intel about this, we know equal come is in on this are you in on the wearable wave that is coming and frankly already here in certain respects? >> certainly wearables internet of things, these are elf did the trend, just starting to emerge. very, very early innings. the key, yes, many of these wearable device, whether it is your watches, smart watches, or other devices do have flash memory storage for data storage. it becomes incremental proportionnally for us in years to come but what is also exciting these variable devices internet of things, will generate more and more of that data. that data has to be captured, stored, analyzed and really looked at fast in terms of making business decisions or
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changing your personal life. flash is really playing a key role here because in these center, hyper data scale centers and cloud infrastructure it helps you analyze at that data fast and cost effective and highly reliable fashion. liz: what was very interesting, 15 analysts upgrading the stock today. just unbelievable. you're up about 50% year-over-year. sanjay, we love to watch this company. so come back again. thank you so much. >> thank you, liz. liz: sandisk we've been covering that company for years, saying watch it and you would have made money had you listened. rich: secretary of state john kerry in geneva today reaching a deal with russians to deescalate the crisis in eastern ukraine. coming up our own peter barnes gives us the latest on the diplomacy and the possible financial fallout. liz: up next, we're talking to one of the hedge fund world's biggest players about why you should consider investing in, hair salons?
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that's right. jim hedges, john barrett holdings ceo, will tell you how to stay on the cutting-edge of alternative investments. stay tuned. ♪
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liz: we need to quickly mentioned thatting something that happened today, herbalife, hlf the news was something charlie gasparino warned us on.
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he warns us on a lot of things ahead of time. certain attorneys general would be starting to look at this company and indeed the news played out. we have the illinois attorney general who is looking into the company. the stock didn't pull too much. rich: this is something with the stock going up and down like a roller coaster for some time now. liz: so far this quarter, let's move to financials much the earnings had this space have been a little bit after mixed bag. how you as investor can make money this sector without going to the obvious names? rich: our next guest is looking at small cap names that could be big winners. phil van doren, market analyst. phil, what are you seeing out of these banks you're not seeing out of some of the bigger names? >> we're seeing a number of small cap banks that are growing their banking businesses by growing their loan portfolios, rather than continuing the depressing focus on cost cutting we're seeing from the largest u.s. banks.
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liz: how do they grown the loan portfolios? are they scraping up some rejected loans from the bigger names? >> >> they might be poaching commercial lending business from banks. i don't think they're scraping off anything. they're spurring u.s. economic growth by making loans to local businesses and expanding through multiple relationships through those local business borrowers. rich: when you look at what potential headway they might hayes here, what could trip up the local banks? what potential problems are there out there for them? >> potential problems potential problems for the u.s. economy. but the economy seems to keep growing. and it appears that commercial lending across the industry, is on an up swing. even some largest banks have seen significant commercial loan growth over the last few years. liz: phil -- >> i don't think small banks have anything to worry about for the time-being. liz: people are dying to hear
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the names you really like. let's put them up on the screen. is there a common thread that goes through all of them? the names include city holding company, cho and south side national bank. >> all three of these banks had strong double-digit returns on equity in 2013. all had positive earnings since 2008 or even earlier. liz: no easy feat, right. >> credit crisis without any losses. of course it was not because economies all over the united states suffered from the real estate collapse. all of these banks are showing solid loan growth and all these banks are doing what they can to build their banking businesses, expand organically and in the case of city holding company they made a large acquisition last year. rich: how many blanches are what we're talking about here? are they mostly regional. >> these are smaller community focused banks growing across their regions. southside, for example, has 50
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branches although 19 of them are in supermarkets. a lunch of them are what they call mobile branches. liz: phil, lovely to have you. again the picks we'll put on facebook.com/afterthebell. city holding, eagle bank corp and south side bank shares. >> thank you very much. liz: we have breaking news. first it was herbalife. and now, high frequency trading, hft. charlie gasparino has it. >> hft. virtue, what sources tell the fox business network, virtu, this spectacle over michael lewis's book "flash boys" delayed the ipo for the near term. they can't sell the ipo as much as they want. they're delaying it for the near term. virtu's chairman still plans to bring the company public. he has not withdrawn the s-1. that is the official paperwork that announces an ipo. he still wants to bring it
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public. this is interesting quote from a person close to the company. vinnie might do the ipo in two eaks or six months. it all depends on the market. vincent viola still wants to do this. he wants to wait until the market improves. there was some speculation he pulled the ipo because of the investigation into high frequency trading by eric schneiderman, that virtu received a is in this investigation. we're told that virtu has not received a subpoena in this investigation. this is mostly related to valuations and, when the valuations come back i am told, vinnie viola, vinnie will come back with this april pope. that is where we stand right now. it is not pulled, it is not pulled forever. it is pulled for the time-being. guys, back to you. liz: good reporting. once again, charlie says they haven't pulled the actual filing paperwork. >> right, you got it. liz: thank you very much, charlie gasparino. rich: well, it may sound like something out of a science fiction movie but how about paying for goods and services with the wave of a hand?
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we'll tell you about a potential game changer in the mobile payments business that is now becoming a reality.
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liz: talk about an alternative investment to stocks and bonds, even gold and oil? how about investing in hair salons? not just any hair salon.
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we're talking about what is known now as the hair salon, the one responsible for katy holmes new look and beyonce's hair. john barrett. the salon is backed by jim hedges, a leader in hedge fund and alternative investments and getting ready for a major expansion. now you're a ceo because you made such a big investment and you're such a believer in this. >> i am. liz: what is thrilling you about it? >> it's a fantastic luxury brand. we give our clients the most incredible experience. it is like no other hair salon in the united states. we're the largest luxury hair salon in the united states. serving over 60,000 customers a year with this incredible, incredible attention to detail and their style. that, that experience that the customers get is the basis of a 17-year-old brand that just needs to live outside of new york city. so we're expanding within new york and in palm beach, washington, d.c., dallas, las vegas. we're going to be extending our hair care product line a lot of
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exciting things happen. liz: this almost sounds like a private equity investment, where you jump in and grow it and you turn it public. is that the ultimate goal here? >> well i don't know that we're going to take it public but clearly we have got an opportunity to build a franchise and expand it far behind beyond the existing base of customers. we want to realize value for that in the future. we have a lot of work to do before that is the right time for us. liz: here it is. here is a picture of the salon. of course it is on the penthouse area of bergdorfs in manhattan. hillary clinton has gotten her done by john barrett. >> i saw her there. liz: there is breaking news, first on fox business, that hillary clinton was in town getting her hair done at john barrett. each one needs a lot of capital. >> yeah. liz: do you have investors now and where is the return? >> well the return is very, very opportunistic. we've got a lost opportunity because the salon business is a great cash flow business. it is a business where you can scale very, very easily and have a fixed cost structure.
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so because of that they can be very profitable. but even mower profitable than the salon operations is the hair care product. we're going to engineer a best in class suite of products, about 20 new products that will launch over the next year and margins as you probably know on skin care and hair care and all the beauty products is very, very high. when we start selling those through luxury retailers in the u.s. and even outside the u.s., that will be a very valuable franchise. liz: those who read the book, bergdorf's blondes, that is the hair salon. what is average cut? >> average cut is $150. it is expensive on the luxury side of marketplace. we have teenage girls save their money to have their braids done. liz: a destination. >> it is destination and is per rational. liz: there is john barrett and cutting a redhead, a redhead's hair. >> i'm getting you into the salon one way or another. >> i sit there in my bathroom and can cut my own hair.
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do you invest in art? you are the alternative investor here. that has been an interesting return, hasn't it? >> it has been fantastic. i started off my career in the hedge fund and private equity landscape. that was looking at lots of different alternatives, commodities and real estate and venture capital and all these different aspects of alternative investment world. one of the things i got very excited about, because i was impassioned personally was the art world. i put together art investments have been fun and gratifying financially. liz: as in warhol. james, great to see you. jim hedges. >> thank you for having me. liz: good luck. john barrett destination, calls it the tiffany of hair salons, rich. rich: liz, get ready to ditch your wallets. one startup is enabling customers to pay with a simple swipe of their hand. we have the story coming up next.
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why relocating manufacturingpany to upstate new york? i tell people it's for the climate. the conditions in new york state are great for business. new york is ranked #2 in the nation
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for new private sector job creation. and now it's even better because they've introduced startup new york - dozens of tax-free zones where businesses pay no taxes for ten years. you'll get a warm welcome in the new new york. see if your business qualifies at startupny.com ♪ ...work with equity experts... who work with regional experts... that's when expertise happens. mfs. because there is no expertise without collaboration. liz: let's go off the desk. a new technology that lets you
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pay with the palm of your hand. it is a contactless payment system based on machines that read the veins in your hand to verify your identity. it has been installed in 15 stores throughout sweden and more than 1000 shoppers signed up to use it. rich: weird. also "off the desk,," 21st century solution to rush-hour traffic is just around the corner if you can afford it. first commercial jetpack is expected to hit the market next year cashing in around $150,000. the martin jetpack uses fans with a v-4 engine to reach 800 feet. developers worked more than 30 years to develop the prototype. gerri: we asked you on twitter and facebook what you think is perhaps the best alternative investment if not hair salons. adam on twitter told us, truly rare, certified coins. rich: kkxg on twitter told us baseball cards from the 08's an
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before. 508's and before. "willis report is next. liz: if you didn't throw them out. how many of you had your mom throw out your baseball cards. rich: oops. liz: fox business live all day even though the markets are not open. we'll see you tomorrow. gerri: i'm gerri willis, right now, on the "willis report." move for clear pricing in health care. will doctors and hospitals be more open and honest about your medical costs? also one of america's favorite easter candice, those fluffy marshmallow chicks. the ceo of peeps is here with all new chicks. new change coming to your smartphone. it is supposed to stop smartphone theft and lower prices but will it? we're watching out for you on "the willis report." we begin with a new promise from the health care industry. better information to all consumers about pricing. doctors and hospitals have been under a ton of pressure in

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