[closing bell ringing] 3d systems, ceo was on yesterday. the stock moving around and moving higher. 3-d systems up. david: you see that 3d house they built? we'll try to get somebody on about that. let's look at markets. we do see a slight gain here, not a record. we were hoping for a record as we hear bells ring on wall street. we were close to it. well, maybe, if the dow finishes -- you know what? i think we are there, folks. liz: we are. david: i think we are there. we have not seen, we had to go up 41.3. wee see how it settles. it is so close, folks. this is the fourth time the dow traded into positive territory in 2014 on intraday basis but failed to finish above the 2013 close, if it settles below that but i think we made it. this is another record on the dow. so that is good news. we're all in the green today, particularly small and mid-sized caps. boy, do they need a little boost. it's a little boost compared to

how they have been hit time and again this year. even they were up a full half a percentage point. so a good day on the markets, liz. liz: indeed. looks like a record. the numbers are settling. let's get to your front page headlines. fed chair janet yellen and other policymakers today announcing they will continue tapering the large-scale asset purchases that. was just what the markets expected of the fed saying it will cut its bond-buying program exactly the same amount, by another $10 billion to $45 billion a month. david: meanwhile, and this is the news that kind of put a pall over everything, economic growth slowed to a crawl in first quarter, much less than expected. commerce department s gdp grew .1%. this is the weakest gain since the fourth quarter of 2012. slowdown in large part but not exclusively to the bad weather. >> the latest private jobs data suggests that the economy picking up steam again. adp jobs report showed companies hired 220,000 people in the

month of april. that is 10,000 more than was forecast. david: friday we get the big jobs report. ge ceo jeff immelt is confident his attempt to buy the power equipment assets of french company alstom will south carolina seed. alstom's board backed the 17 billion doll offer but left a door open for competing bid from germany's siemens. liz: pfizer intensified campaign to buy britain's astrazeneca for $100 billion. financial times says pfizer's ceo was in london lobbying for a deal. david: sales for "game of thrones" helped time warner profits in the first quarter. earnings beat forecast. time warner raised full-year guidance. we have financial reports coming out as well. busy time. "after the bell" starts right now. liz: and it's a record close for

the dow. what action we saw in the wake of the fed's announcement. we have mark travis, intrepid capital management ceo, who has two retail names investors should keep on their radar. scott schmerhorn, granite investment advisor's chief investment officer. scott is positive, he feels positive on the overall economy even with the poor first quarter number. bob eye a chino from the pits of the cme. bob, very interesting, you hear janet yellen and company saying even when we finish bond-buying purchases we'll keep interest rates low for a very long time. markets went moon shot. >> they did. the fed didn't give any negative surprises. nobody expected at two-day meeting. no press conference after this particular meeting but the important thing to note is, we have a two-day fed meeting ended prior to a non-farm pay rolls number and they could have given a hint in their statement, wink, wink, don't see number ahead of tie, i get it but they could have given some hint labor

market is cooling, heating up. stayed right along core and we'll see how that comes out tomorrow. david: that's a great point. mark travis, i always look at gold when the fed decisions come out, if it's a big move one way or the other you will see gold hitting. gold stayed flat for the first half hour, basically at zero. it ended the day, what about $3 down, $4 down, 490. bottom line it wasn't a big move in gold. it wasn't a big move in the markets, even though we had a new record on the dow. you see this record, i'm quoting you all dressed up with nowhere to go. explain what you mean by that. >> well, david, we're focused on bottom up equity valuation work but from a top down perspective you've had huge number of ipos comparable to 2000, 2007. you have very low levels of cash in the typical fund manager's portfolio, about 3%. and you know, i think that prices are pretty high.

you've annualized returns, last one in five years close to 20%. it is hard to find a security that's disconnect between its, you know, intrinsic business value from our perspective. liz: scott, can you feel positive about the markets when we just have .1 a percent growth in the first quarter? do you look forward and agree with the fed that it is not too worrisome and that once really warm weather starts to take hold, people will start spending more money. >> liz, that tells us two things. people talk about the move the market had last year and it is unsustainable which i would agree. let's face it. here the reality is. we went roughly from 12 to 13 times earnings to now 15 1/2 times earnings. this is about where the market traded. it was a big move but by no means overvalued. not as undervalued as it once was. as far as the economy i think it will find, weather was more

disruptive when people believe due to couple things. david: okay. i didn't mean to jump on you scott, i wanted bob in because we're getting that friday jobs report, very critical jobs report, proctor & gamblely more so than what the fed had to say today. any hints from the fed what we might see in that jobs report? >> i did not see any except that i think it is going to be status quo for the jobs number. i don't think you see us get to 6.5% on the unemployment rate. i'm looking 6.6% at best. i don't think you will see any surprises at all. i couldn't agree with what they are saying about the equity markets, both guests, sell in may and go away works but not in bull markets. one client said it is mature bull market. i don't agree in terms at all. it is terms of age but not typical moves in bull market. this is like underdeveloped 18-year-old boy, in terms of wage he is mature but way he

acts is not. i don't think sell in may, go away. chicago is a place where in the summer we explode anyway. now 2/3 of the country will explode. liz: mark travis feels like it is 29-year-old guy looks to get married that had extended run. you like staples, western union, oaktree capital, american eagle. let's pick staples. that had a difficult run at certain points of its career and life. what do you like about this name? >> well i think, liz, they probably need to contract in europe. they're contracting in north america. but what is kind of underneath the covers that a lot of people are not familiar with, what we call, north american delivery which is really i believe number two internet retailer u.s. behind amazon. david: mark, forgive me for interrupting but we do have earnings on yelp. adam shapiro, what are they? >> seems to be a beat, david. adjusts earnings loss of four cents a share. the street was expecting loss of

six cents per share on revenue 76.4 million in first quarter. street was expecting 75.06 million. guidance for the second quarter they're projecting revenue will be up year-over-year roughly 55%. they are predicting that they will have revenue in the second quarter of the year anywhere from 85 to 86 million. david, back to you. david: again, those numbers, particularly the loss, we were expecting a loss of six cents per share, it was a little better than that. a loss of four cents a share. usually we talk about these earnings. you can see after-hours, liz, the market doesn't like what it saw in these numbers, particularly in projections. liz: this is a tough name. there are lawsuits that swirl around this company. there are questions whether its model really in the end make a lot of money but when you see guidance, revenue up 55% year-over-year. this is not the worst thing. there is something else in the report. as we get more details, adam, we'll bring them to you. mark, you want to continue your thoughts. >> first on 300 million in revenue what is the market cap for yelp?

it left reality from my perspective. liz: it is about, well, looks like 4 billion market cap for yelp. >> at least. so, you know, that is a huge multiple on sales, regardless of rate of growth. but staples i think is a very good cash-earning business. it has defensible balance sheet. we're kind of paid to wait here, 11, 12 bucks, 4% dividend. we think there's, you know, higher private market value than where it is today and they deliver a lot of office product through north american delivery. david: scott, i want to talk about one of your picks but i want to put it in general focus here which are financials. financials so often lead the way, either up or down. citigroup you like right now. why citi among all the financials? >> well, tell you, david, first and foremost is valuation. citigroup is trading at 70% of book value right now. so 30% discount. cheaper than any large financial we can find out there.

we think we have a little margin of safety in the valuation number one. number two i would argue it is one of the best global franchises out there. they have had some issues but i think they're doing great blocking and tackling. i think they have been humbled and i think over time you will see this company strengthen its global prowess come out and i think shareholders will reward that. liz: good to see all of you. bob travis and mark schmerhorn. bob, we'll see you in a few minutes when s&p futures close. >> i'll be here. david: there is hid len number in the gdp report that should worry investors. business investment, i don't know if you saw, that, it is dropping 6%. what sinned who the drop? how can we stem it? we'll ask cato institute ceo, one of the best bankers in history, john allison. liz: speaking of gross domestic product, headlines suggest the economy almost came to a halt in the first quarter but one of the best economists on the street says do not let the fool you. underlying growth is actually strong. he is joining us next.

david: more consumers were checking into marriott hotels last quarter as demand spiked. ceo telling us why the u.s. is no longer the key to success for his business. we want to hear from you. will friday's big jobs report be good news or bad news? what do you think? ahead of those numbers, @fbnatb. that is the twitter. we'll bring you answers later on. ♪ [ male announcer ] what if a small company became big business overnight? ♪ like, really big... then expanded?

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liz: restaurant chains, noodles and panera bread falling into the red. david: time to turn to nicole petallides at nyse for more details. nicole. >> we talk about fast-food, casual dining and like. recently we're taking a look at strength in chipolte. look what happened to noodles and company, down almost 14% today. then there is panera bread. how did panera do? down 6.25%. what is going on with these two names? these casual dining names came under pressure because they're just not meeting expectations and certainly not coming close to matching the double-digit comp sales, the growth that we've seen out after name like chipolte mexican grail. that being -- grill. that being said, restaurant

analysis, things, speed of service, go into play. so we'll see whether or not something like a difficult order pick up area such as that for panera can be fixed. can they bring traffic in to noodles? that's what we're watching for. liz: thank you, nicole. david: s&p futures closing, actually they closed four seconds ago. let's head back to bob iacino from the pits of cme. what sort of hint do we see what happens tomorrow? >> not a lot unfortunately. i get excited about new highs like everybody else, new record highs but unfortunately they don't begat a rally next day as we've seen all through 2014. april basically ends up slightly lower on s&p. i'm sorry, slightly higher. s&p and dow slightly lower on nasdaq. so not that excitings unfortunately. david: amazing, such a subdued reaction to a record high on the dow. bob, great to see you. thank you very much. >> good to see you, guys. liz: david, maybe it is because we saw one of the weakest growth

rates in the five-year long economic recovery today. gdp came out this, is pathetic, also a little worrisome or not? up .1 of a percent? can the u.s. despite the number be still on track for strong growth? we got the disappointing first quarter gdp data but is there another number we should be paying more attention? joining us, nariman behravesh, ihs chief economist. i don't know about you when i saw growth of .1 of a percent, my mind spun, i worked in local news so i always thought the worse to contraction next. do you see that at all? >> absolutely not there. is a lot of underlying strength in the u.s. economy. we basically should ignore this number. most of it was inventory swing and weak exports. there is weakness outside of the u.s. if you look where domestic demand where the u.s. is, it is growing 2 1/2 to 3%. consumer spending for example. consumers are rock solid.

consumer spending grew 3% in the first quarter. it is other stuff, that is 70% of the economy. the other stuff dragged it down. we're looking at 2 1/2, 3% underlying growth. we think we go back there this quarter, the second quarter. liz: okay. >> all the data coming in on march and april just confirmed that. liz: so nariman didn't work in local news. he is not a pessimist like i am. what do you look for? what do you think the consumer has in his or her mind at this point as the weather improves but we still see a bit of a change when it comes to the housing market? >> well, certainly housing has been a disappointment. a lot of that is affordability. house prices have gone up. mortgage rates have gone up. so, housing is a little more expensive. we didn't really expect that boom that we had for a year, year-and-a-half to continue, but it slowed down a little bit more than we thought. that is about the only weak spot right now in terms of the domestic economy. retail sales is strong. auto sales strong. industrial production strong.

the employment picture looks pretty good. so, other things are looking pretty good. no offset housing. liz: is there anything in the u.s. economy that does concern you right now, nariman? >> there is and that has to do with corporate caution. in other words companies and chief executives are still being very, very cautious. they still sort of withdrawn into their shells a little bit. the hope is as recovery continues on this pace, even though bounces up and down as we've seen, that they will come out of that shell -- spend more. that is the hope. that is the worry. that is really only domestic worry at this point. liz: we're getting april jobs report right, friday, from the labor department. what is your expectation? adp shoulder a build of 220,000 jobs in the private sector. >> our best guest when you put it all together, adp is private sector and government employment is shrinking. we think top line number around

200,000. decent number. not gangbuster but decent number. we think it will be solid. liz: what else could the fed do if anything? seems like the qe medicine has lost its efficacy? we had jon hilsenrath said last hour watch for reverse repos. is there something else that the fed might have, some other tool in its tool belt? >> as you know, they announced it today, they're gradually tapering their bond purchases but i would say it's a little premature at this point to seriously tighten. look what the fed's doing. it is gradually taking its foot off the accelerator. it hasn't applied the brakes yet. it is still early time in of applying the brakes. inflation is not a problem. it is well below the fed's 2% target. the economy is a little uneven. i think they shouldn't jump to rastic at this point. liz: when you look at the consumer, that is 2/3 of the economy and how the consumer

behaves, what's your best guess about how we end the year, all of 2014? >> well i think we have a very good shot at growth throughout this year in that 2 1/2, 3% range. consumer finances are in pretty good shape. the job market's improving as we were saying. consumers are fairly confident. although again those confidence numbers bounce around a fair amount. >> right. >> i think consumer spending has a good shot being really strong foundation for the economy. liz: nariman says this quarter things will look much better. thank you. good to see you. >> thank you, liz. liz: nariman behravesh of ihs. david: even if you disagree with. >> i rarely do, i love the guy. there is another important number in the data. we haven't talked about it yet. this could be a warning sign about the economy's future performance that nariman didn't see. cato institute ceo john allison will tell us all about it. you don't want to miss it. your money could depend on it.

liz: marriott international stock hitting an all-time high after strong demands for hotel rooms particularly in north america that really helped boost profits. we'll hear what marriott ceo arne sorenson what is the next binge thing for this hotel industry belleth weather. he is talking to fox business. ♪ ♪ [ girl ] my mom, she makes underwater fans that are powered by the moon. ♪ she can print amazing things, right from her computer. [ whirring ] [ train whistle blows ] she makes trains that are friends with trees. ♪ my mom works at ge.

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liz: time for a quick speed read of some of the day's other headlines. five stories, one minute. first up, energizer holdings unveils plans to split its operations into two independent publicly-traded companies. one company will focus on household products. the other on personal care. china could overtake the u.s. as the world's number one

economy sooner than anticipated. a new report from the world bank suggests china could surpass the u.s. as early as this year. microsoft speaking of china, will begin selling its xbox one in china september. it will be the first video game system to be marketed in china more than a decade after a government ban kept western console systems out of the country. u.s. mortgage applications dropping last week despite lower interest rates. according to a report from the mortgage bankers association, application activity fell 5.9% from the previous week. every undergraduate student at mit will get $100 worth of bitcoin this fall. the mit bitcoin club says it raised half a million dollars from alumni and the bitcoin community in order to cover the cost. [buzzer] that is today's "speed read". david: how much bitcoin is $100? i think you get 1/1000 of it. anyway, investors are checking into shares of marriott

international sending them to all-time high. company's profits rising 26% last quarter as room rates and occupancy levels rose as well. liz: cheryl casone sat down with marriott international ceo with the inside scoop. this is great move for the stock. >> the stock, record high today as well as hilton hitting a record high today. what is so interesting talking to arne sorenson, the numbers came out after the bell yesterday as you both know. things are very solid. here is what he said about growth first. >> and we're now starting another year with this 6%ish, kind of revpar growth. it feels to us like further proof that the recovery is solid and on a continue for a few years at least ahead of us. then we see increasing positive stuff outside of the united states. >> so one of the things that happened when the earnings numbers came out obviously was about that north american growth, guys but really what he told me, here is the next big thing. he said he is looking overseas. he just got back from asia. listen to what he told me about

the future of the company and where the money is going to come from. >> the part of the economy most relative to us is consumer, chinese consumer part which the government is manaially focused on driving increase in. that is good news for us. both about china travel within china, and increasing about chinese travel outbound. >> liz and dave, he went on to tell me had gotten back, astounded by numbers of chinese middle class. we've been talking about this for years. they will go out and spend money on luxury goods and things like that. if that outbound traveler from china they will start to bank on all about emerging market for marriott and for starwood. they made a lot of changes when it comes to business travelers. business travel is picking up finally. even though they get a little bit of a hit from weather in new york city and d.c. and all of that he did tell me frankly they have moved past that they're very, very bullish about this year. david: if china though slows down, if that slowdown continues or if there's more substance to

it, then what appears right now they're in a pickle aren't they. >> all the hotel chains would be. gambling companies in las vegas made big bets on china. he said to me, i have some very high-level meetings with ministers and people in china he felt like he will still go with this bullish scenario for the company. but yes, to your point, if something goes wrong in china would be evidencing south for many of these companies. liz: thank you, cheryl. >> says hello to liz by the way. david: not to me? he likes blondes and redheads. >> hi, arne. it was a very weak first quarter for the economy, with growth of just .1 of a percent for annual rate. what caused economy to slow to a crawl? what is next? we have cato institute john allison. david: love that man. what is traditionally a less than stellar month for investors so is it time to sell in may and

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they're about 10 times softer and may have surface pores where bacteria can multiply. polident kills 99.99% of odor causing bacteria and helps dissolve stains. that's why i recommend polident. [ male announcer ] cleaner, fresher, brighter every day. david: today is a last day of april and according to the stock traders almanac there is something to the old adage of sell in may and go away. since 1950 the dow had average return of .3% of may to october

period. this compares to average gain of 7.6% to the november to april period. it is not all bad. some sectors historically don't adhere to the same seasonal pattern, one whose historical returns have been just as good between may and november, are food, agriculture, leisure, multimedia, retail and utilities. so mark that well. liz: what shocked the markets early this morning but then the markets were able to come back was that the u.s. economy almost came to a grinding halt in the first three months of this year, dragged down by declines in exports, housing and business investment. david: so what triggered a last quarter's drop and what needs to be done to achieve sustainable economic growth? joining us john allison, cato institute and ceo, former bb&t chairman and ceo. he made that bank into a superstar. it is his doing that did it. john, thank you for being here. let me talk to you about one figure that was in the gdp report that really shouted out to me and that was investment.

private investment was down 6%. immediately i was thinking all these companies that are spending money on buybacks and things like that to get the stock price up, that's where their investment money is going. but is it just that or does the government have anything to do with that? john? all right. i think john is having problems? are you back? okay. all right. he is still not back. we're going to take a break and try to evaluate what the problems are with john allison's feed, come right back to you. stay with us.

david: john allison can hear us now. liz: yay, former head of bb&t and current president of cato institute. thanks, john, we're talking about growth numbers and something that appeared in those growth numbers that private investment is way down, down over 6%. why is that? >> well i think there's a combination of factors. i think people are still uncertain about the regulatory environment. it is an absolute killer. it remains that. obamacare is still out there. they're uncertain, mostly, i think about what the implications long term for the fed printing a lot of money. interest rates are certainly going to be higher at some point in the time. are prices going to be higher and smart business people been

around a long time know when inflation moves it moves very rapidly. that makes people very cautious. liz: i lost track at four. i came up with four very important issues. you heard nariman behravesh of ihs is actually not too concerned. housing certainly improved but where do you put housing on your list of concerns now? seems like we had a great renaissance about a year ago. then we sort of plateaued. >> i think issue with housing is, is the fact that we've created another potential bubble in the housing market again. liz: how? >> by, the fha has been buying subprime mortgages. the government's backing subprime mortgage business with 3% down payments and i think that is incented and it is also gone into the apartment market. so you got the low-income housing being driven through the fha lowdown payment program and got the apartment market. liz: right. >> both driving at the same

time. and now i don't think it is, out of control but i do think it is going to have to adjust particularly if long-term rates move. the fed has been buying down the long-term rate market. i think that's a challenge. because they can't keep doing that forever. now i don't want to imply that i don't think the economy will continue to grow. we're growing way less than we ought to be. david: markets are forward-looking, john. you were former, one of the best bankers in the whole world, growing bb&t tremendously. you had to focus on rates. they haven't been going up. if markets are forward-looking why aren't rates going up right now? >> i think markets are forward-looking and opportunistic. a lot of traders are in the market and fed is such a huge force in the marketplace. we've gotten used to these numbers of $50 billion, a month. these are huge numbers. and at the margin, the fed moves market a lot. what concerns me is when the fed starts selling, when it goes the

other way, you could see a major movement in long-term rates. then you will see at love traders try to get out real fast and they may get out -- liz: don't you think that janet yellen, that's the last thing she wants to do is see any kind of shock for the markets? therefore they will very, very in detailed way telegraph the message to the markets well before it happens? >> well they tried that in the past. the history is not so good about that i mean, in the past when they have started moving, rates have moved faster than they intended for them to move. i mean the fed's not been very good at economic forecasting. it usually reacts after the fact. it almost always reacts after the fact when you have significant changes. david: well we have significant change in the wrong direction as far as growth is concerned, much less than we thought it was going to be. how about if we have more of this, a continued slowdown or if we go into negative theirer to, what does the fed do?

they can't, they can't get interest rates any lower. what will they do? >> i hope they will try not to do anymore. i think there's no evidence in monetary policy helped with this recovery. this is the slowest recovery we've had probably in american history. the fed has played unintentionally i think a very negative role. i think they often put out the wrong signals and they're ignoring the fact that savers want return on their investment. people feel uncomfortable when rates are so low. it implies some negative situation. i hope they don't try to do anything. liz: you're right about that we saw in the past in argentina when they started to tighten rates, markets did well back in the day. thank you, john, so much for your perspective. we're fair and balanced here at fox business. we like the ideas. >> thank you very much. liz: john allison, cato institute. david: one of the best bankers in history. no question number of lawsuits over patent infringement has been skyrocketing. last year 6,000 claims entered

u.s. courts. some were legitimate but others made for folks looking for a quick settlement from a company. a new bill coming out seeks to limit the number of frivolous lawsuits. others are concerned that the new bill would endanger small businesses or individual inventories who have patents or about to file them. one of those concerned with the new bill, congressman dana rohrabacher, who joins us now. congressman, great to see you. thanks for coming in. you don't deny a lot of these lawsuits are frivolous, do you? >> i deny the word a lot. there are, large numbers of suits that are filed because megacorporations, multinational corporations, are more and more going to the tactic of trying to steal from the independent inventor rather than respect the rights that they have because they own the patent on their inventions. yeah, there are some scam artist out there and there are a group of people who are labeled patrols but what this bill does is trolls.

this treats every independent inventor is scam artist troll and dramatically, actually, diminishes the patent rights of our small inventors. this is ridiculous. david: look at number, look at increase in up number of these lawsuits last couple years, it is tremendous. we can show a graph. >> sure. david: seems to me when i look how litigious our business environment has become, it is because of an increase in the number of frivolous lawsuits? >> we, you're talking about frivolous lawsuits. how many of those lawsuits when you see the chart were won by the person who is claiming that the big corporation was infringing on their patents? the big corporations, especially people like google, multinationals, have just decided they're not going to pay royalties to the little guy anymore. thus you have to have more suits against these big to our patent rights respected. of course what this bill does is

treats all, all of the inventors as if they're scram artists. all of these things, they're frivolous lawsuits. there are frivolous lawsuits throughout our system. the patent office has no more or no less than other frivolous lawsuits that american business has to face. >> let me ask you about one detail in one of the bills. frankly there are number of bills going around. one of them has loser pay rule. >> right. >> that is actually a conservative principle that is something they have over in england. that is why they have about .1 the number of lawsuits over there that we do. if you bring up a lawsuit, if frivolous, thrown out of the court you have to pay the court fees. it lowers number of frivolous lawsuits and focuses on good ones. are you in favor of that? it is sort of a conservative idea? >> well it's a conservative idea but put into practice in venue, meaning the fight between people who are inventors and multinational corporations who are trying to rip them off, the frivolous, loser pays becomes a

huge weapon to be used against the small inventor. after all, if the small, how much, how many legal fees will the small inventor have? if he wins the suit, so what to the big corporation? but the small inventor, if he has to pay the big corporations's legal fees it will destroy that person. and the bill -- david: hold on a second. the fact is that you do have, you do have a number of ambulance-chasing lawyers out there that are looking for an opportunity. i know them. i've seen them. >> what is wrong with that? hold on. david: when the governor of texas, rick perry, when he had this loser pay rule put in texas, the number of ambulance chasing lawyers diminished dramatically and number of lawsuits. what is wrong with that? >> you're talking outside the context of inventors now. something may work in a widespread -- wide spectrum an

not in given area. by the way the loser pays provision in this bill, not only loser pay, if someone invested in the small inventor, and he cops up before the big corporation, even, this bill puts in jeopardy anybody who would even invest in a small inventor as paying for these legal fees. and of course these big companies, they can run up big legal fees. and of course, they don't care at all about the little guy. that doesn't deter them. what we need to do is make sure we have a law that protects the property rights of the innocent person. what we have here is a bill going through that neuters our small inventors. david: congressman, you make a good point. i got to say, i still haven't decided on this i hate frivolous lawsuits but i also hate those big corporations that roll over the little guy too. so i'm still -- you straightened a lot of it out for us. we have to leave it at that.

congressman dana rohrabacher, thanks for coming in. >> thank thank thank thank you. david: liz. liz: pfizer has launch ad full-court press on fox business to win support for its campaign to buy britain's astrazeneca for the eye-popping amount of $100 billion. is this proposed deal lowering its tax bill as it is about boosting sales? we take to you washington to find out. david: 3d printing could be one of the break-through inventions of the 20th century, but will we harness this technology from the tip of a pen? it could happen sooner than you think. details coming up. ♪

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liz: breaking in the last hour, a csx train derailment near downtown lynchburg, virginia, set a fire. you're looking at amateur video shot near the scene. as that news crossed, we were just about to interview the chairman and csx mike wall ward. here is what he told fox business about the derailment of the oil tankers and how his team is responding. >> what i can tell you we're deploying all of our resources for three primary purposes. one to support the local emergency responders, secondly

to protect community and citizenry and protect the environment. we're actively engaged with the emergency responders. we're setting up a community response center at this point and we deployed external and internal environmental experts to the scene. so more detail will become known as time goes on. liz: he did say during that interview they don't own the cars themselves. of course they do own the railways. we're told numerous build frogs this fire have been evacuated in downtown lynchburg, virginia. but so far no injuries have been reported. we're watching the story forethe very latest developments. there may have been a spill of the oil, david, in a nearby river. david: glad we had him on just as that happened. washington as we all know still hasn't reformed our tax system. corporate executives are not waiting around for congress to take action the for example, we heard today pfizer will save a billion dollars every year by incorporating in the united kingdom if its $100 billion bid for britain's astrazeneca is

accepted. >> rich edson is live in d.c. with more. rich, we've seen this before where companies want to have headquarters in ireland but this is big. >> right. american companies have shed costs and now they're looking to shed some of their tax burden. the united states has the highest top corporate tax rate in the world among industrialized nations. pfizer can acquire foreign competitors and reincorporate overseas and have access to foreign profits they hold outside the united states and refuse to bring back here because the rates are too high. top rate of 40% and state tax rates on top of that, u.s. companies make massive list of tax breaks is actual rates companies pay vary widely. one former chief executive says taxes do play a significant role in business decisions. >> i don't know whether companies are going to relocate their headquarters based on regulations and taxation because moving a headquarters has many,

many ramifications. what i do know is this. companies will figure out a way to move operations to environments where they are more welcome. >> a host of companies have done just that. shifting billions in operations from the united states overseas and tax structures, some on capitol hill have charged amounts to tax avoidance. when congress may address tax reform, senior aides say next year at the earliest. next week the house likely votes to extend several business tax preferences including research and development tax credit. an acknowledgement broad overhaul of the corporate tax code this year is unlikely. back to you. david: should anyone be surprised we're not growing any faster. that is one of the reasons. rich, thank you very much. liz: are you tired of writing with a traditional pen and paper? now there's a very precise 3d printing pen that will allow users, david, to draw plastic objects out of thin air? what? we've got the details next.

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liz: let's go off the desk. what if you could drive your sports car from l.a. to chicago on one tank of gas? trident, british call maker just introduced a 395-horsepower supercar than can reach speeds up to 190 miles-an-hour but travels up to 2,000 miles on a single tank of biofuel. david: smells like french fries. liz: with the proprietary technology they can deliver ferrari-like performance that is cool, as a three times the a toyota prius this is $361,000. david: we saw somebody driving up sixth avenue at 190 miles per hour. also off the desk, we heard about 3d printers but what about

a 3d pen? a u.k. startup is making a market with a pen that allows you literally draw off the page in 3-d. can be used to draw models and designs. perfect for architect techs and artists that want to doodle in 3d. they use plastic fill laments and form creations and uses computer usb port. the pen sells for $120. not too bad. liz: can it draw a suitcase? why not i'm packing my bags, hitting the road tonight. we and team fox business are heading to berkshire hathaway and annual shareholder meeting in omaha, nebraska. there is nothing like it. 35,000 plus people descend on omaha. friday we're live all day at hilton omaha is ground zero of the area inned advance of the meeting on saturday. we'll meet with ceos of some of berkshire's biggest companies

and warren buffett's three children in a fox business exclusive. on monday, don't miss my exclusive interview with warren himself and vice-chair charlie monger and bill gates. david: i love it when the kids get together. they're not all like him politically. they have different views. "the willis report" is next. gerri: hello, everybody, i'm gerri willis. right know on "the willis report", consumer alert. what recalled products are sitting in your home right now. we have the best way to find out and what to do about it. also secondhand stress. what is it and how can you catch it? and the new pills that stops you from getting hungry. a new fad or something that actually works? we're watching out for you on "the willis report." gerri: get ready, to pay more to use the roads. more taxes, higher taxes. the obama administration is propose being tolls on the nation's interstate highway system. the plan contained in