tv After the Bell FOX Business May 28, 2014 4:00pm-5:01pm EDT
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systems is growing slowly through acquisition. [closing bell ringing] david: should mention twitter is up over 10% today. big comeback for that stock. liz: bells ring on wall street. that is what an upgrade from nomura can do after a trial for twitter. see how the stocks finish of up. these numbers are still settling. you can't call it yet for the s&p. in a few minutes we might be able to. doesn't look like a record for the moment. for transports it may well be. we're watching closely. yes, that looks like a win. "after the bell" starts right now. david: take a closer look at today's market action. we have oliver porsche, gary goldberg financial services president. he said we have already seen the correction investors have been waiting for and expecting. we'll tell you exactly how. joel johnson, johnson brunettety
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president, with three long-term investments picks. todd horowitz down in the pits of cme. todd, let's talk about the interest rate. it is almost like a collapse. it has gone down 21 basis points just this month on the 10-year. what is that telling you? >> hi david, hi liz. depend on what side of the camp you're in. if you're a bull everybody is selling foreign debt and buying u.s. foreign debt is much higher and selling into arbitrage. you're a bear, money is coming out of the stock market going into the bond market. those are the two arguments. the truth of it is, the market is a dull market. there is not much going on. people are getting a little bit edgy. i think there is little bit of money flowing into the bond market. i think you see a little bit of fear. vix is not showing a little bit of fear. bond market says maybe we have a little bit to worry about here. markets are very dull. i don't think anything we need to read into. other than interest rates are falling and bond futures going higher. liz: yeah. peter kenny, a pal of the show.
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he had written piece on transquilt. if you call boredom tranquility, still below 12. let's get to oliver. you say we've seen what correction we might see next couple months. why? >> absolutely, liz. we've seen sector by sector correction. it hasn't been broad markets. we haven't seen 10, 12% on s&p. small tex. biotech went down. technology which is rebounding went down. you see the sector rotation. you guys have done a great job on fox business network covering it. so we think that the big part of the correction has already occurred. you probably will see a little bit after consolidation over the next few weeks. we think the markets have another good leg up to go. david: joel, tomorrow we get growth numbers. there is a lot of talk about showing revision in the first quarter that might actually show a contraction for the economy. would that spook the markets? >> well, i think it probably
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would spook the markets, especially with so much money on sidelines or very nervous short-term, type of money. as a long term investor. i can't agree more with oliver. we saw biotechs roll over six or eight weeks ago. we saw the technology sector sort of follow that i do think we've got a good leg up. especially if three-to-five year investor, i think there is nice opportunity in the market here. liz: where would you find the opportunity? >> personally as i look at the technology sector, as i look at etf, qqq, where i can own apple, i can own google, i can own qualcomm as a big chunk of that qqq etf. i like the technology sector. liz: you are not spooked by the fact that they have pulled back some? >> i'm always spooked. most of our investors are retireees. i'm always a little nervous about the market. i feel comfortable three to five years. liz: pullback, it is minor in the some of the names.
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but again in the aggregate it looks pretty healthy. >> yes it does. i think the manufacturing is starting to pick up a little bit. some of the housing numbers have been a little bit better. i do think we're in this slow, trudging along recovery, if you will. and i think markets have a little bit to go certainly through the rest of the year. i don't think it will be a huge year. david: oliver, let me talk about one of the stocks in the qqq. that is apple. we'll talk in detail bit coming up. because price targets are going way up for that stock. is it too late to get in on the apple band wagon? >> no. we epdon't think so. we like apple. i remember talking about a year-and-a-half ago. david: then it was under 400. >> it was under 400. everybody hated it. a year earlier when it was at 700, everybody loved it. people are start doing chase performance. we think at 625 there is still value. they're raising dividend. doing stock buyback and seven for one split makes it attractive to retail investors there is room to go but we have to moderate expectations.
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you can't look at mature company like apple and think it will do 30, 40% a year. david: don't you love all the analysts get on bandwagon of a the move happened? got to give carl icahn credit. back when it was 500. >> he was on it. he likes to talk his book and that is a whole different story. david: he was right. >> apple is a great example of the company doing the right thing. they have a strong balance sheet. they have cash. they're raising dividends. they're returning money to investors. that is what you want to see if you're an investor, especially if you're retiree living on fixed income. raising dividends is key in this market. liz: todd, maybe that is the way to go. look at healthy companies that make a great product, do shed, give off a dividend. that way you're at least protected a couple of sides what could be at some point a very realistic move to the downside? >> you know. i couldn't agree with you more, liz. if you go to warren buffett school, which is, buy good solid companies, brick-and-mortar. this time will not be different. we'll get a much more severe
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correction. i do not agree we've had secular core correction. i think we'll have a deep correction. when you have good solid companies with good solid dividend you have opportunity to live through the bad times as well as good times. they will not have the 30% spikes but won't have the 30% down times. david: todd, you have been talking down with the market for a long time. a lot of reasons i agree with it is down but hasn't been. are you putting your money where this market is? are you shorting this market if a deeper correction is coming? >> i'm short, if we close on new high today i would have gotten out. i am still short. i'm, the problem here is the market is you will d dull markets i was once taught, never sell into dull market. went from exciting market to a dull market. it is very tenuous at best. liz: it is not that dull. we're seeing a lot of mergers and acquisitions joel. for example, stryker, they came out on exclusively on maria
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bartiromo's show earlier on fox business to talk about what was rumored as a deal. aller ban, valeant. all kind of companies like apple and google buying up little companies not publicly-traded yet. there is opportunity here. do you find that dull or do you find it exciting, joel? >> i find it exciting n our backyard in connecticut, ge buying alstom power the big french company. they have a ton of employees in connecticut. ge is big example of brick-and-mortar companies. pays 3% dividend. i don't think they will be out of business in my lifetime. worst-case scenario i collect dividend they're easily covering and track over time as market goes up. they might not beat the s&p. but you know what, between the dividend and price performance i have decent rate of return. that is what we're looking for. mergers and acquisitions with big companies and small companies we're seeing a lot of activity. david: 3.3 is not bad as a dividend of the oliver you have companies that give even more than that tell us about it.
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>> sure. the paramount thing is to look for companies with strong balance sheet and rising dividends. you shouldn't be afraid to go overseas. look for rock solid companies in europe. total usa. huge company, 5.5% yield. sanofi has a great yield of 3.75, 4%. glaxosmithkline is 3 1/2, 3.75 range. there are atat companies trade as adrs here in new york stock exchange at new york stock exchange. you don't have the currency risk. they're wonderful investments for people looking for solid and reliable dividend stream. so you have to look everywhere. last thing i want to say, investors should take really, really good look how those acquisitions are happening. pfizer walking away from astrazeneca is solid sign people are not willing to overpay. that is positive for the market. >> i agree. oliver, great to see you. joel, wonderful to have you as well. todd horowitz we'll see you when we come back after the break when the app statute furs close. david: thanks, guys. will it be iphone 6, or iwatch
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or maybe the itv we heard a lot about. that is what folks are asking when apple kicks off the developer's conference. cantor fitzgerald top analyst says none of these things are coming. he still sees the stock moving higher, over 100 bucks higher. why? he is here to tell us in a moment. liz: some banks raising a red flag, warning that profits could take a hit this quarter. we'll tell you who is sending out the warning signals. david: also there are some companies that can't wait for summer to start. among them six flags entertainment. will hot weather mean a thrilling ride higher for the stock as well? we'll talk to the ceo of six flags exclusively. liz: we want to hear from you. we'll be talking to "forbes" women's editor about the new list of the most powerful women in the world. who do you think should be at top of the list. "forbes" 100 top women. tweet us @fbnatb. your answers coming up.
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a research tool on thinkorswim. i quit smoking with chantix. before chantix, i tried to quit... probably about five times. it was different than the other times i tried to quit. along with support, chantix (varenicline) is proven to help people quit smoking. it's a non-nicotine pill. chantix reduced my urge to smoke. that helped me quit smoking. some people had changes in behavior, thinking or mood, hostility, agitation, depressed mood and suicidal thoughts or actions while taking or after stopping chantix. if you notice any of these, stop chantix and call your doctor right away. tell your doctor about any history of mental health problems, which could get worse while taking chantix. don't take chantix if you've had a serious allergic or skin reaction to it. if you develop these, stop chantix and see your doctor right away as some can be life-threatening. tell your doctor if you have a history of heart or blood vessel problems, or if you develop new or worse symptoms. get medical help right away if you have symptoms of a heart attack or stroke. use caution when driving or operating machinery. common side effects include nausea, trouble sleeping and unusual dreams.
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my quit date was my son's birthday. and that was my gift for him and me. ask your doctor if chantix is right for you. david: web retailer jd.com getting a big boost climbing nearly 8%. liz: let's go to nicole petallides. this one went public right? >> right. it already 30% higher than ipo price. we're seeing a new pop, big
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record high for jd. 25.30. it is was up almost 8%. analysts at clsa are hot on jd.com. they're easily comparing this over in china to amazon. it took amazon four years to turn profitable since its ipo. and jd could turn profitable faster. that partnerships would line it up to see a lot of demand online. they're touting this one. they put a new price target of 25 1/2 dollars. you saw the stock popping on this -- $24.50. david: thank you, nicole. see you tomorrow. liz: s&p futures are closing. we didn't see a record today. let's head back to todd horowitz to see what is sense will happen tomorrow at opening bell. >> it will be a fairly denine close. volume at about 30%. which is very concerning. vix at multiyear lows. gdp is in the morning. where they will find growth i
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don't know. that will be important number. mario draghi on the fifth. market is waiting for big information. bond and low volatility tell us something will happen soon ever just a question of when. liz: thank you, todd. david: thanks, todd. with summer just around the corner it is practically here if you were out last weekend, we're taking a look at companies that could see some red hot profits as weather begins to heat up. liz: we thought we would cobble together summer stocks opportunities for your portfolio. one of them, six flags entertainment, gets nod on day one. some of the fastest rides in 18 parks across north america. plans to open the tallest swing ride in america and ride overseas. joining us in fox business exclusive, six flags ceo, jim reed anderson. jim, how tall will the new ride be? i'm interested knowing that? >> liz, it is called sky screamer. it is our park in new england. it is 400 feet high.
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i was on it last week. it is an amazing experience. i was one of the first people to go on it. you need to go there liz. liz: i think i need to. david: wow, i would love to go as well. jim, we usually wait until the end of the interview to ask this question but i want to start with this. the number of employees you have is astounding. i didn't realize there were 39,000 of employees of six flags. are you hiring? coming out of bankruptcy you usually don't get hiring and are you hiring more now and what kind of jobs are you looking to fill. >> you know, david, it is four years since we came out of bankruptcy. the company has had four record years, all-time high, not only in profitability but in revenue and in attendance. we hit a 10-year high. so, i look at this and i say from an employment perspective we're one of the top employers in the united states. in many of the cities we're in, we're number one employer. we receive about 200,000 applications for those jobs that you described. and we're absolutely hiring
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right now. david: again, what kinds, specifically. what kind of jobs are you looking to fill? >> we are looking for every job, from people who are very good on stage, to people who are good at culinary services, our rides, every aspect of the operation that we have we're looking for. and as i said, we've got a lost applications but we always take good people. liz: jim, all we hear is that inflation is very, very low. now we're rolling out some of these jobs by the way to the right of me so you can see for our viewers what's available but inflation's low. yet disney just raised its ticket prices. i remember as a kid you could walk into the park for disneyland free. e tickets were most expensive rides and just 100 bucks to walk in the front gates. are you raising prices? as we put up prices, what does that include and how you're handling extra costs and where you see the extra costs?
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>> liz, we're careful about how we approach price increases but we have raised our price and we will continue to do so. the main difference however, is that we're a regional theme park. historically, six flags are discounted. and we're at the point now where we have an incredible value offering. so for 40 to $45 for a single day or 60 to 70-dollars for a full season pass you can come to one of our parks. increases we're taking are very modest. i think guests see that that is part of the reason our guest satisfaction scores are at all-time highs. david: by the way, jamie martin is it your true that your kids forced you to take this job. >> absolutely true. they held me down all four of them and said you have to take this job. one of the reasons, we have the greatest lineup of, not only thrill coasters but family entertainment. we have the largest safari outside of africa in one of our parks. it is an amazing lineup of
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product. and this year, you know in our news in every park strategy that we've been implementing last four years we have something new in every single park, including several world record-breaking rides. you talked about one of them. we have one in gurney, our park at great america. we have the tallest, fastest, steepest wooden coaster in the world just about to open up. it is called goliath. near you, there is ride which will be the tallest drop ride in the world. david: i have heard of it, yeah. >> it will be 415 feet high. and then in mexico we've got a world record-breaker called med duessa. finally literally as we speak we're opening up a brand new water park at six flags over georgia. literally inside of the park and as part of your ticket for entering the theme park you get access to this brilliant water park. that is some of the new attractions we have. liz: this from a guy who came from medical diagnostics, david. what a big change for somebody
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like you. but again, the numbers play out. four years of record-breaking numbers after emerging from bankruptcy. we remember covering this story and it wasn't a pretty one back then. what do you do to ramp it up even more? we're looking at season pass membership attendance. increases and increases. your stock is up 8% year-over-year. but the float, 6% of it is shorted. some people on wall street don't believe in this story for some reason. what do you do to get the retail investor on board? >> you know, liz, we've seen an amazing transformation not only in our shareholder base but also in the number of people that follow us. so the number of people who trade our stock is up. we're at the point where we've delivered consistently, literally quarter after quarter. as you said, four record years. we will continue to do that. we have pricing opportunity and season pass, membership opportunity. lots of innovation going on in
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our parks. per the last segment that you had, two years ago i sat literally with you, liz, i talked about a 5% dividend yield and paid out 30-cent per quarter dividend. today we have a 5% dividend yield. and we pay 47-cent dividend. very much in line with sort of company that you were describing, very, steady nice growth. lots of opportunities for the future. not just in terms of share price but also in earlies of it dividend. david: you had a hello of a job coming out of bankruptcy. particularly where you came from. dividends. a lot of stock investors are looking to your stock. jim, it is a pleasure. this by the way a guy who nod only rode those rides he ridden about, he has ridden every single ride in six flags. is that correct, jim. >> that's correct. i feel it is important to go on to the rides, share the experience that our guests are going to have. david: jim reed anderson. quickly. >> i also eaten every single thing in our park. i make sure i try everything. david: you look pretty thin and
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pretty trim. liz: eating your own cooking. david: jim reed anderson, six flags group chairman and ceo. please come again soon. liz: coming up woe have a cop carving out its own niche in the $565 billion meetings and event business, an industry many investors have never even heard of. ceo of founder of how his company is shaking up this enormous party industry, carving out a name for itself. david: apple's worldwide developers conference kicking off next week. rumors coming out are pushing the stock to a new fifth. but is all the hype overblown. cantor fitzgerald's chief analyst joins us next. liz: starbucks may move into the real food restaurant business. where, and what will they serve? details are coming up. ♪.
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switch to comcast business internet and get two wifi networks included. comcast business built for business. liz: time for a quick speed reed of some of the day's headlines. five stories, one minute. first up, ceos raked in most cash of any industry. ing list for 5th time in six years. median pay for health care ceos rose 13% to 12.3 million, edging out wall street's $12 million average. microsoft's skype will be able to translate voice calls now. the new upcoming service of the will translate voice conversation in basically near real-time, almost instantly. target getting into the ebook business. retailer starting with a startup ebook subscription service to help customers buy, share, and discuss favorite books. facebook's messaging service
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whatsapp is facing potential antitrust review in europe. the $19 billion deal has been already approved in the u.s. >> starbucks is stepping into the food business opening up a restaurant in los angeles. they will offer sandwiches, build your ownburg is and alcoholic beverages. that is today's "speed read." [buzzer] david: thanks, liz. apple's stock is up 40% since the 2013 bottom of $308 a share. analysts are pushing a $700 price target. recently bernstein citing iphone 6 our next guest has a big target. without a new iphone or iwatch. he doesn't see that coming anytime soon. brian white, cantor fitzgerald, global head of technology, hardware and software research. great to see you this is hot topic. full disclosure, i bought apple in 89 in march of 2,000. i bought it at 620 also.
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i finally made money on both purchases. you have a much bigger price target of $777, is that right? >> we use 13 times calendar numbers back net cash which is $150 a share. david: why without an iwatch or a new iphone? everybody is saying, we had, bernstein price target said $700. that is with a new iphone 6. you say even without it can go up to 777? >> we've assumed a multiple that is actually slight discount to the market. i think, you know, stock trades 10 times x-cash. the s&p 500 straight is 15 times. we put some type of a iphone refresh as we always do into our model but not a major refresh. we have not put the iwatch in. that is the existment as we go into the second half of the year. david: won't they disappoint investors who might be expecting a new iphone or newnew iwatch? >> i don't think so. the other thing to remember we have china mobile that started
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earlier this he year. they will start to ramp up 4 g network in bigger way in second half. we expect the iphones to be bigger. in china and asia, people want bigger phones. david: back in february, tim cook said there will be new categories, i think we can put up the full quote. what did he mean by that if not a new iphone? >> iwatch will give you a new category. david: why would he say that in february if in fact we'll not have it by the end of the sumer? >> i think by end of calendar '14. you may. fiscal year is september quarter. they could have it in september. we're expecting fall, which is september type time frame. david: now cash, this is a cash-rich company beyond all measure. what are they going to do with it? are they going to focus on buybacks? are they going to perhaps to purchases abroad, what? >> they recently increased cash distribution to 133 billion from
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100 billion. that is calendar '15. that is dividends and stock repurchase of $90 billion. i don't expect game changing acquisition but they have cash as you mentioned to go ahead and do that if they need to. david: it is interesting you say that the hallmark of apple used to be as a game-changer. >> yes. david: when steve was alive but, now, they have kind of lost their moniker. hasn't that hurt the brand? >> i think, last summer, and this is going to wwdc, a lot of concern about innovation. they made a major focus on wwdc. they're very innovative company. apple isn't necessarily first to the game but they master the game and they did that with phones. they relate. they did that with ipods. they relate. david: you used term game-changer. when was the last game-changing product they had? >> ipad in my view was -- david: that was a long time ago. >> that was 2010. so every three to four years you get a new product. iwatch will be the product this year.
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we'll see where it goes. david: very quickly, last question, is it possible a game changer for apple could be a purchase that many people weren't expecting? some people are saying maybe a netflix or a sony pictures or something big in terms of content? is that possible? >> it is always possible. i'm not expecting that. not expecting that. david: brian white, cantor fitzgerald. good to see you, brian. liz, over to you. liz: behind the latest music festival, corporate retreat or gala is 500, nearly $600 billion industry many people haven't even heard of. just what is behind setting up big events such as these? next we're talking to ceo of one company, started as two people that is now huge and did the coveted kentucky derby race. many sports fans argue the best view of the game is from the comfort of your own couch. will a game changing football helmet bring fans closer to the field than ever before? we have a coming up.
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he will be part of this company, along with jimmy iavine along with the one of the biggest in the music industry with interscope records. this is huge deal. he was a long-time friend of apple cofounder steve jobs of the two of them came together, talked about this before steve jobs died. here we have reality of it, apple buying beats by dr. dre. the interesting aspect what do they do with it? do they make the smart headphones? david: there had been this wall between los angeles, between the entertainment division and folks in silicon valley. this is a move to break down this wall of we were talking about how much cash apple has, how they will be spending some of that cash. whether they will be going into content, which of course they would love to get more into. this is perfect way for them to do that. but also to break down that wall. because sometimes they have been at loggerheads over property rights and so forth with silicon valley. now perhaps silicon valley and l.a. will work together. liz: well, it is a fascinating,
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fascinating development long rumored but now official, apple is buying beats by dr. dre. let us move on to a very important story we've been waiting to tell you about. there is so much more than showing up to a party and looking fabulous. there is real money and you as an investor can play in it, the events industry. this is nearly $600 billion business you might never have thought about putting in your portfolio. what is going on behind the party scenes and how can you make money investing in this little-known industry. joining us the ceo and founder cvent. this is ticker symbol, cvt. started in 1999 with two of you and look at you today. >> thanks, liz. we started with two when we founded company. built to billion dollar plus company. close to 1500 employees and 12,000 customers and about 190,000 users around the world. liz: it is about the swag bag
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and party favors. you have to start offering beats by dr. dre with the apple stamp because that deal just happened, reggie. talk about the industry. what do you do for a client? you have some major clients from marriott to all kind of big parties? >> yeah. so what we basically do is, we're the leading cloud-based software company for meetings and events. so what we do is provide meetings technology. what that means is, we provide tools such as to help companies manage market and organize their meetings and events. we also provide -- go ahead. liz: i was going to say, launches corporate parties, not just conferences? >> yeah. correct. any kind of, any kind of meeting. in the beginning we were doing mostly corporate events. it could be lunches. could be conferences. cobe product launches all kind of stuff. anytime you gather a meeting or group of people get together. that is what we provide meeting planners, the tools to manage and market those events. liz: rsvps.
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giveaways. making sure everybody has information. are corporations having parties opening up their wallets? it has been five years since the market bottom. i'm wondering what are they doing? are the parties getting bigger and better? >> we refer to meetings and events. they actually are. the meets industry is $556 billion on meeting events around the world. biggest industry you never heard of. the fact they're mission critical for companies. whether it is good times or bad times, companies are organizing events. and so it is continuing to grow. in particular with technology. so we provide the software and technology to make these meetings and events more efficient. basically continues to grow very rapidly, simply because, as meetings company become more and more important, companies look to measure their roi. for instance, companies, typically spend, b2b companies spend 25% of marketing budget on meetings and events. because it is so important. we help them become more efficient and it is continuing
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to grow rapidly. liz: what is the most creative event you pulled off and for whom? >> we've done all kinds of events. sometimes the corporate events tend to be more block an tackle corporate events. we've done stuff like super bowl, we've also done for example, the kentucky derby and organizing those events with mobile apps for example. we've done a lot of really interesting events. they tend to be more corporate but we're moving much more towards the consumer side like festivals an consumer-focused events. liz: you need to get on bar mitzvah party train. that is getting bigger and bigger. reggie, thanks so much for joining us. >> thanks for having me. liz: the company is called cvent and ticker symbol cvt. david: you could support the company by your bar mitzvahs coming up. jack dorsey's company may have hit a wall with the reader business but he has new plan to make money in the financial industry. he will tell us. >> angela merkel and marisa
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mayer among the most powerful women on the planet. who else made the "forbes" list? we'll find out. look at a stock chart. you would think this company would get a top rating from the credit rating agencies. this high fry flyer just got junk status. why? we'll tell you come being next. ♪. i ys say be thman with the plan
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starts at 6:30 a.m. - on the (vo) rush hounose.und here but for me, it starts with the opening bell. and the rush i get, lasts way more than an hour. (announcer) at scottrade, we share your passion for trading. that's why we've built powerful technology to alert you to your next opportunity. because at scottrade, our passion is to power yours. liz: well, may be popular among investors but electric carmaker tesla has received a junk level
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rating from standard & poor's. the agency says tesla has a liability for 2.9 billion in convertible bonds. s&p also citing tesla's narrow product focus and concentrated production footprint along with limited visibility into future demand for its cars as factories making the company, as factors making the company vulnerable. tesla says the rating was unsolicited and made without feedback on the company's future growth plans. stock peeled back about 2/3 of a percent. david: you may have heard about that noshes releasing annual list of most powerful women in the world -- forbs. they focused on -- liz: in "first on fox business" interview is moira forbes, forbes women president publisher. great to see you. >> great to see you guys. liz: we like the list because it brings forth name of people who truly have an impact.
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not just celebrity status, is it? how do you compile the list? >> we look at women across eight different categories, tech, finance, philanthropist and media, entertainment. we rank them three ways, how much money they earn, control and influence and media how much are they part of the global dialogue including social media which is changing dynamics of power today. we look at impact. how they are using that influence and power in a positive way to change the world. david: social media is changing categories. i was surprised to find that hillary clinton was in the celebrity category. i would have put her in the political category but you say she is more of a celebrities. why? >> she is the only woman on the list who technically doesn't have a job. she is in the top 10 because she is seen as presumptive leader of the free world. she is someone who has a most powerful political voice. she is generating big bucks. a huge seven-figure deal for her memoir, upcoming book deal.
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she garners-fees for speeches. david: how much? >> $100,000. david: almost as much as liz gets. liz: i heard hillary clinton gets 250,000. >> that doesn't include private planes and jets. you're looking 400 grand to have her in front of an audience. liz: as we look at the top five, for example, angela merkel, once again at the top of the list here. she has been on herour list for nine years. eight years in number one spot. why? she is head of the fourth largest economy in the world. more importantly the head of the largest economy in europe and eurozone is still faltering and fledgling. the eurozone rests on her shoulders. decisions she makes impact not just europe but the rest of the world. economic policies are really important for that market right now and she's at the helm. david: i would be remiss if i didn't mention part of the fox brand, our own greta van susteren made the list. liz: yea. >> she is number one one hundred the list. she look at woman who are not just making the news but driving
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the news and setting agenda on critical conversations and she is one of them. liz: one woman on the list never on the list and debuts at number two. janet yellen fed chair. fascinating move to suddenly appear on the list. >> first woman to break into the top 10 in many, many years. she is at the helm of the largest institution in this country. the economy rises and falls based on decisions and whims of the fed as do the rest of markets around the world. david: i was to note there are a lost asians on the list. >> there are. david: that number of asian women who are in powerful positions are growing. >> it is koreans. we have -- increasing. we have 23 woman from asia, and a lot of them self-made entrepreneurs. 18 women on the list founded their own businesses or their own foundations of the a lot of self-made billionaires coming out of asia as well. liz: as we wrap up, youngest woman on the list. >> lady gaga. queen elizabeth. david: she made it. god bless the queen.
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liz: the issue is on stand. david: myra forbes. didn't emac having to to do with this list when she was back at "forbes." >> helped found the list. david: it all comes back. good to see you, moira. appreciate it. liz: you seen square in store or credit card readers. lets merchants make purchases via cell phones or small tablets. great for small businesses. we'll tell what you the company is up to now. david: football fans, brace yourself, folks. when we go "off the desk," we'll tell you how you can get closer to the action, closer than you ever believed possible. details coming next. [ laughter ]
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david: some banks have started to raise a red flag of sorts warning investors that profits could be hit as trading revenues slumps. citigroup, predicting its trading revenue will plunge as much as 25% this quarter from a year earlier. the company saying investors are uncertain and there just isn't a lot of movement right now in banking. jpmorgan singing a similar tune of the bank saying that with volatility levels at 10 to 15-year lows, even if trading volumes rise it will be hard to make money right now. gold man saks president gary cohn saying volumes across a number of markets slumped
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sharply. he noted environment for all the firms is quote, quite different cut right now. liz? liz: i think they will figure it out. they kind of always do. square has started lending to small businesses. the company launch ad credit program called square capital offering square customers cash advances to grow their small businesses. david: our own jo ling kent is here with more on the story. tell us how it all works? >> dave, liz, square has been moving towards this a couple of months, launching today square capital to loan money to small businesses as you said. they borrow a lump sum and pay back with percent of sales over time. no interest fees or set payment schedule but this is very expensive. techcrunch reporting that square will utilize data has on the company to decide how much cash to loan and what the payback percentage will be. now the reports are saying that the rate is between 10 and 14% on top of the advance that you have to pay back. liz and dave, you're looking at least $1,000 for a 10 grand loan. in a statement square says it
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advanced tens of millions of dollars to thousands of businesses already since it started testing the program over the last year but square met with many competitors. take a look who they are. paypal working capital. lending club. cabbage. others to watch? deal struck, fun box, and on deck. dave, the space is already very crowded. david: jo, what does this mean for jack dorsey and future of square? >> very tenuous right now at square. no further comment from them of as we reported their plans for ipo have been delayed. jack dorsey making a play to attract more businesses to sign up for square's payment services. that capital can only help that. they need the help. journal reporting that square lost $100 million last year. they're quickly burning through their $340 million of venture cash. jack dorsey repeatedly saying he wants to keep going, disrupting inventory, payroll and lot more. we'll see. david: jo ling kent. appreciate it. >> thanks.
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david: could be a football game-changer. we'll tell you about a new high-tech helmet for players that will transform the game forever. liz: you won't believe how badly -- we should be nicer how poorly rapper 50-cent throw as baseball. he blew it in front after huge crowd. he has other talents. guess what? there was somebody who threw out a first pitch at some point on angels game, who did better than 50-cent. david: no. liz: yeah, we'll show you who. ♪. you start tomorrow? yes sir. alright. let's share the news tomorrow. today we failrly busy. tomorrow we're booked solid. we close on the house tomorrow. i want one of these opened up. because tomorow we go live... it's a day full of promise. and often, that day arrives by train. big day today? even bigger one tomorrow. when csx trains move forward, so does the rest of the economy.
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righty and trying to be gutsy. he tried, get out there. david, you may remember in may of -- david: i remember. liz: there i am. taking the mound with hideki with the anaheim angels game. i made it. i stood on the mound t was a little high. okay, but just a bit outside but i made it. curtis. david: what do you mean you made it? liz: i made it, i made it to the plate. david: if the plate was over half the toward third base. liz: i think he couldn't handle my power. david: definitely better than the rapper. david: this could be a game-changer. it has video camera. hd video to coaches players and fans. this could change the way the game is watched. by the way this is nhd it will be much clearer of the camera can stand same impact as hitting a brick wall without breaking or
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pausing. it has 2 1/2 hour battery life. just about right for a fame. records video on a removable sd card so coaches use the footage as a training tool when players get a first-hand understanding how to improve their game. shut vision plans to expand its technology to helmets in other sports as well, including baseball, lacrosse and liz's favorite, hockey. liz: that's right. go kings and rangers. number two things to watch, i split my allegiances will be april pending home sales. that is released 10 a.m. eastern. economists expect to sales to climb 1% after rising 3.4% in march. david: and the number one thing to watch tomorrow will be the second reading of first quarter gdp. economists expecting the u.s. economy to have actually shrunk. that is a negative growth, by .5%. this would be the first quarterly contraction in three years. an initial reading last month showed a slight move to the upside of .1%. but again that may turn out to
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be wrong. liz: we are watching apple in the after-market session because the breaking news that happened in last hour, apple officially announced it will buy beats electronics by dr. dre for $3 billion. david: unbelievable stuff. gerri willis is next. gerri: hello, everybody, i'm gerri willis. right now on "the willis report," they know more about you than your friend and family. they're the big data brokers. now the feds want to give you more control over all that info. also, it's running season but before you lace on those running shoes we've got important information you need to hear. just about everybody these days is eating healthier. why is organic king, whole food's stock rotting away? our supermarket guru weighs n we're watching out for you on "the willis report." well last week, we covered the frenzy over penny stocks. you know those microcap invests trade in
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