tv After the Bell FOX Business June 27, 2014 4:00pm-5:01pm EDT
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this year. [closing bell ringing] that is the best among the s&p 10 sectors. they offer the biggest dividend of the question how long can it last? well, until the fed starts hiking those rates. liz: the bells ring on wall street. we end with all major indexes in the green. david: happy friday. liz: happy friday. we have one more day of trade on monday for the month of june. here is how we finished up. dow jones industrials manage a gain of six points but turn your attention to the nasdaq it is up 18 points, not a bad day there. it is russell. that is rebalancing where fund managers decide which stocks they want to jettison from their fund and which ones they want to buy. you see a volume pickup. highest percentage gain, 3/4 is of 1%. david: "after the bell" starts right now. david: happy friday, to you,
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everybody. let's break down today's action. we have at chase investment council president. he says earnings are key to the second half. jon tunney, usa investment, vice president of equity investments. he said don't worry too much about the weak first quarter gdp number was threatening earlier this week. michael gerka in the pits of cme. ashley webster also staying with us on the floor of the new york stock exchange. michael, i want to start with you, the bond market what is the bond market telling us about the stock market? >> well it's funny because we're in such a tight range in 10-year yields from 2:45 up to 2.60. basically telling you right now equities will remain king. for the same reason the bond market every time it sells off, seems though it reached a tapered bottom. for those reasons, i think the bond market is kind of not necessarily incorporation with housing right now. that is one of the reasons why i think stocks will continue or
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equities markets will in particular look so solid for at least another month or two. liz: peter, do you agree? we've had a good year. some say markets are overstretched. others look at price to earnings ratios going forward. it is pretty much within historical norms. where do you stand on this? >> i would agree with that. if you look at s&p 500 estimates for this year, 118, 119 and then 130 for next year, that would give you a pe of this year's number 16 1/2. 15 times next year's numbers. these are not stretched pes by any imagination and given low bond yields the market is sill e still act attractive. we're finding plenty of growth earnings with companies. david: we're talking specifically about those companies. john, first of all i want to talk about believe it or not the year is about half over right now. we have only couple more days before we finish first six
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months. we get new earnings season in. what happens to the stocks if revenues don't beat estimates coming up with new earnings? >> we think that is the risk, david. it is, not just earnings. it is about earnings generated from strong revenue growth. and, you referenced the weak first quarter in the economy. what we're hoping for is that it is like a rubber ball and it fell a lot but it bounced back and it will be strong. one thing that gives us optimism, look what is going on with commercial and industrial lending. that tend to be a leading indicator. we're seeing over last few months we're seeing strong commercial and industrial loan growth. liz: industrial loan growth. that brings me back to michael gerka, where do you see actual flows? you're there in the pits, watching buy orders and sell orders come in. >> i think that, that was very well-taken as far as revenue growth, only because in the third quarter, the expectations
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are actually becoming a little bit flatter on where revenue growth is coming in. if we use history in the last 18 months, that is just another reason to exceed. so the flow that we've been see something just very mute to say the least but it has been constant in one direction. we don't see that big put in the market like we were thinking a almost a month, month 1/2 ago and again that is the stability right now that earnings also will be the favorable forecast because right now economically we're not seeing those big jives down other than of course jobs. david: ashley, back at the new york stock exchange what's the mood of the investors there? are they skiddish or are they just kind of laying back and waiting until the next big thing happens or what? >> i think the second one of those two, david. i think the general mood here is look, it's a slow grind up. if you think of all things gone on, the market hasn't reacted strongly what is going on in iraq and geopolitical issues. we had an uptick in consumer
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sentiment which had no impact at all. it is all pretty much as you are. let's not forget that the trading volume is very light. as we get into the end of first half of the year and start looking at those earnings we may see some movement but right now it is just stay as you are. liz: let's make people some money, david, how about that. >> let's go to peter. you have three picks. ameriprise financial, pfizer, waste connections. pfizer, i'm guessing you like the fact it is one of those gigantic companies everybody buys but has a nice yield but what about waste connection and ameriprise? >> ameriprise is 21, 22 billion-dollar market cap financial services company that is having good earnings growth, double-digit earnings growth and good revenue growth as well. sells for about 15 times earnings. so it has pe to growth rate under one, which is something we look at. waste connections which we bought for our mid-cap portfolio
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a week or two ago, $6 billion market cap company. basic necessary industry, trash collection. again, good earnings growth, returning cash to shareholders, high profitability and reasonable valuation. we like both companies. david: all right, john, i want to go to you to talk about one stock in particular. that stock is halliburton. i think halliburton is a very bold pick, the reason being it is at a fifth. to -- fifth two week high. to believe halliburton and solid company can go up from its gift two week high, that is bold prediction. what make buildings you think it can do that? >> first they have initiatives with great sounding names, frack of the future for improving horizontal fracking technology. battle red, improving service delivery and other issues. they did a lost spending that
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spending is coming to an end of the they will now harvest the benefit of all of that. you're seeing them with very strong cash flows to buy back stock. they can increase their dividend. there has been a pickup in activity in north america land. when you think of halliburton they are really not just a oil services company. they are a combination of an energy company, a technology company, and a industrial. they're an oligopoly. we think there is many reasons to own the stock. our big concern is not really the 52 week high. we would admit if oil prices come down, halliburton's stock is likely to come down, but other than we really like halliburton. david: halliburton harvest, i love that technique, that idea. liz: we don't want to ignore gold as we're talking about commodities. michael give me a sense of gold. gold had a couple of days of upward moves. everybody gets all excited but the fact is the price here is still well below its 2 1/2 year,
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3-year high. 1317. what do you think. is gold really have an opportunity here to continue ramping up? >> oh, absolutely. as you referenced that 2 1/2 -year high/average where it was, you're kind of referencing a peak of a market it has ever seen. so in that reason alone i would not be too concerned about being here those prices but at the same time we've had such a move from 1250, that was really kind of a dire scenario going into that. for the same reasons we're seeing things settled overseas in regards to a lot of conflicts that are flat-lining on us, particularly the ukraine and of course iraq, i think gold has a bright future going into the rest of the year. david: i want to ask ashley a final question about interest rates. i know a lot of people are shocked, i know peter was shocked they stayed down and even went down further while they were expected to go up. is there any view, ashley, why interest rates are so low and whether there is expected up
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tick at you will? >> that is interesting, isn't it? we heard perhaps the by the end of the first quarter of next year we'll see the interest rates move up. i think it's really comes down to those that believe that the economy, what state it is in at this point. i think if you look at wage growth in this country, very, very slow. if you look at inflation, go into the supermarket right now, it is starting to move up as far as prices go that is. for the economy as a whole i think it continues to struggle because of that. interest rates will probably remain low for a while. we look at treasury yield, someone said down to 2.5% no doubt next three months. we'll see. david: lo, low rates. thank you very much, peter and john. good to see you both. ashley and michael, we'll see you in a couple minutes when the futures clothes. thanks, guys. liz: looking to get ahead of the crowd before earnings season kicks off in just two weeks. coming up we have three earnings powerhouses that could rise at least 20% in the next year.
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we'll name them. david: all come on the western front. the volatility index, the vix, is at a seven-year low and that has a lot of an lifts worried that investors may be too come place earth but one man is -- complacent. one man is not worried. you knows the vix better than anyone in the entire world. why? he invented it. the father of the vix will be here to join us. liz: the age of the smart home is upon us. we'll show you four inexpensive gadgets that will transform your home and your life and you can order right now. david: i love these things. also tell us what you think. what new technology do you think will transform your home in the coming years? phones, tvs, transporters, time machines? what's your best shot? give it to us. tweet us @fbnatb. your answers about the future coming right up. ♪ [ male announcer ] once, there was a man
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get live squawks right in your trading platform when folks think about wthey think salmon and energy. but the energy bp produces up here creates something else as well: jobs all over america. engineering and innovation jobs. advanced safety systems & technology. shipping and manufacturing. across the united states, bp supports more than a quarter million jobs. when we set up operation in one part of the country, people in other parts go to work. that's not a coincidence. it's one more part of our commitment to america.
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i haven't used it yet. because of sales of keurig brewing machines, that speaks well for k-cups where the coffee comes from. a lost gains today, up 4%. on back of research analyst at argus toaised his price target to 140 bucks on the stock and raising a from hold to buy on this stock. growth growing 7% this year. it has spurred nice profits. additions to company including peet's coffee and campbell's soup will be good for company. it will be awfully bowl of soup to fit into the k-cup. liz: chunk by keefe? >> half a chunk. david: i speak up for eli coffee. that is the best. thanks, ashley. liz: hook it up. s&p futures are about to close. let's head back to michael gerka. he is in the pits of the cme.
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michael. >> again, what a way to close the day, slash week and ham laugh half after year as we get near monday. not that i'm the most bullish guy but particularly the course of the u.s. dollar looking weaker and weaker and where commodities are headings, i still like stocks a lot. the third quarter will surprise a lot of people that being said i like being higher from here. i like being long. i think the market keeps going. liz: everyone on the floor needs to listen to david's next interview. michael, tell them. watch this. david: we have somebody very important coming up. the volatility index, vix, has been trading at historic lows for a while now. this week it broke below 11 for the first time in seven years. what does the man who actually developed the vix think about all of this? robert whaley, van per built school of management and developed the vix for the chicago board options exchange.
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we're very pleased to have him in with us. professor, thank you for coming in. >> glad to have you here at vanderbilt. david: good to be there in virtual way sort of. explain to us how the vix was born and why? >> that is long story. the cboe asked me to develop a market volatility index in 1992. i took a sabbatical from duke. took all of the data they had on index options prices and headed off to france. a few months later, came back. i had a formula that was programmed in and that was that. it has been around -- david: i don't want to get into all the gobbledygook of various quantum theories and so forth but how is it calculated? it is an indicator where we have been or where we are going? >> where we are going, exactly right. it is based upon s&p 500
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options. in particular influenced by prices of puts. if institutions are buying portfolio insurance to protect themselves against tail risk on the downside, the prices of those options go up and vix goes up. what you see now is that vix is at a low level. it just means that institutions are not particularly concerned, no there buying a lot of portfolio insurance and we're, complacency is probably the wrong word. these prices are being set by people with a lot of money. what it indicates that institutions looking forward 30 days aren't all that worried. david: you can understand why people are concerned about complacency itself. some people say that is the point at which people get a little too cocky. >> well i'm not sure that is quite true. it is bound to go up eventually. the expectations is not going to happen anytime soon. but you've had.
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there were situations where the vix has been below 11 1/2 many days during the year. 2006 it was below 11 1/2 92 times i think it was. david: wow. >> it was below 60 times in 2005. 1995. people just have a very short memory. david: yeah. >> they don't bring this into a proper perspective. yeah, the market is calm right now but i don't think it is complacent. david: were you surprised, and perhaps even bothered by the fact that the vix became more than just an indicator? it actually became a instrument, not vix but the vxx, something traded on? does that surprise you or concern you at all? >> doesn't concern me in the least. i think it's a natural event. when i designed the index there was really two purposes that the cboe instructed me. one was to have this barometer
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of forward-looking measure of volatility. and it started being distributed in real-time basis back in 1993, january of 1993. their second purpose was to create a reference rate upon which they could list futures and options contracts and that's what they did. it was a long time in coming. futures consider the introduced in 2004. options contracts in 2006. if you look at trading volume of those numbers, this has been the biggest success the cboe had since the advent of index options back in the early '80s. david: some people sayings particularly the retail investor, i know the quantity guys, the real fast trading guys, they deal with the vxx. but sometimes retail investors go in there and get burned. >> yes. that is a real concern to my mind and i have written on this particular topic.
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david: didn't you, didn't you, forgive me, professor, didn't you go into the vxx at one point and are you one of the burned customers yourself? >> i was one of the burned customers. i was making a short-term play on volatility and i quite frankly, i didn't investigate deeply enough. and i didn't know, i knew they were written on futures industries but i was unfamiliar with the behavior of vix futures prices. david: let me stop you there. because if the guy who invented the vix can get burned by the vxx that is a warning to all retail investors not to get in there, isn't it? >> yes it is. retail customers. this is not the product for them. and it wasn't the product for me but back to your original question. i think having a trading instrument on fix itself would be a great move forward. it would be very beneficial to the investment community, particularly on applications like insuring tail risk.
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should some geopolitical event happen, some major economic event, it's an excellent hedge. david: now, professor, i have to ask you, you invented the vix, what else? what is next for you? is there another instrument, sort of like the vix that we don't have now maybe you're working on? >> i could tell but i would have to kill you. liz: i like this guy. david: coming from a canadian those are strong words. professor, thanks for coming in and come back and see us again. >> take care. liz: that's amazing. david: fun guy. liz: stalemate, president obama and republicans seem incapable of breaking the political deadlock. is this gridlock hurting the economy? we'll take you to washington to find out. david: also investing in a high flying market. you want to know the names of three stocks that could actually double their earnings within the next five years? we have the names. we'll give them to you, coming right up. liz: the internet of things, the internet of everything, ready to
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blast off. guess which tech giants could be left behind? surprising results after new goldman sachs study. you may own some of these stocks. you need to watch it next. ♪ [ male announcer ] the mercedes-benz summer event is here. now get the unmistakable thrill... and the incredible rush... of the mercedes-benz you've always wanted. ♪ but you better get here fast... [ daughter ] yay, daddy's here! here you go, honey. thank you. [ male announcer ] ...because a good thing like this... phew! [ male announcer ] ...won't last forever. see your authorized dealer for an incredible offer on the exhilarating c250 sport sedan. but hurry, offers end soon. share your summer moments in your mercedes-benz with us.
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what happened? life happened. stress. fun. bad habits. kids. kids. kids. now what? not milk. not sheep. not that. let's think smarter. let's get some science in here. let's build a bed. another bed? no, a smarter bed a entirely new sleep number bed that tracks your movement, your heartbeat, your breathing - sensors working directly with the dual air chambers - yeah you need the air chambers. introducing the sleep number bed now with
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sleepiq technology. it tracks your sleep patterns and tells you how to adjust for... a good night's sleep, a better night, and an awesome night. so what sleep number adjustments make the difference? try cranking it up? adjust it down? a little bubbly? or nix the late night flicks? wait, you'll know what works, cuz sleepiq™ technology tells you. and all you have to do is sleep. which is easy. only at a sleep number store, mattresses with sleepiq start at just $999.98 because everyone deserves a great night's sleep. know better sleep with sleep number. david: time for a quick speed read of some of the day's other headlines. five stories in only one minute. first up, bnp paribas set to plead guilty to criminal charges and pay a $8.9 billion penalty to state and federal authorities. the french bank is accused transferring billions of dollars on behalf of sudan and other countries plaque listed by the u.s.
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google is offering free coding lessons to women and minorities. google, $50 million made with code initiative which aims to help close the gender gap in tech. frozen foods are falling out of favor in the u.s. frozen food sales down 3%. $3.92 billion over the past four years. industry officials warn of potential hit to the u.s. economy if dock workers at 30 west coast ports go on strike when their contract transpires on monday. a five-day strike would reduce u.s. gdp by $1.9 billion a day and disrupt 73,000 jobs. youtube is adding a new feature that will make it direct competitor to kickstarter. channel owners have the ability to make money soliciting donations from their fans. [buzzer] where did the time go. that is today's "speed read." wow. liz: okay. well the unemployment rate has shown signs of improvement recently. growth certainly has not, with the gdp for the first quarter shrinking the most in five
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years. david: today the president tried to bring his economic agenda back into the spotlight on a trip to minneapolis, minnesota. rich edson live at the white house with the details on the trip, rich? >> well, david and liz, president obama in a campaign-style event still trying to address he can be effective especially with the economy. he says the economy by almost any measure is better than he took office. points to the auto industry and deficits. more americans insured because of his health care law. if you look at economic growth, especially in the first quarter, nearly shrinking 3%, lackluster before then. lackluster forecasts for growth afterwards. president obama acknowledges that more needs to be done. calling on congress to extend unemployment insurance, to spend more money on road construction, a few other items on there like job training an issues he said if congress would step up and pass then the economy would be better. so he is blaming sluggish growth on congress. >> they don't do anything! except block me!
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and call me names. and, it can't be that much fun. it would be so much fun if they said, you know what, let's do something together. >> the response from house speaker john boehner's office telling us the president keeps doubling down on policies that already failed to increase prosperity. some are calling for tax reform, keystone pipeline, more energy and so we are basically at the same impasse we have been quite some time here in washington, d.c. that will continue. david and liz. david: the blame game. get together. look, they both agree on lowering corporate tax rate. why don't they just instead of blaming each other, get together on one thing that would help everybody? liz: sometimes gridlock is good for stocks. david: well that's true. liz: we'll see how it plays out. >> politics. david: thank you, rich. one strategist calls them earnings powerhouses. we have three stocks. get this, these three stocks
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rally 20% this year and double earnings within five years. we'll give you names. liz: you need to write them down. plus we're getting closer and closer to living like "the jetsons.." not exactly. yes our homes are getting smarter and smarter. we'll show you four smart gadgets that will transform your home and they don't cost a pretty penny. david: amazon has its foot in just about everything from drones to phones to groceries. we'll tell you where they are headed next and why one public company in particular should be very frightened about this. ♪
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david: the global market what is being called the internet of things is expected to hit $7.1 trillion by the year 2020. to take advantage of this massive potential growth goldman sachs released a list of its 11 companies it feels are best positioned to cash in on the coming revolution. okay, here are five names that made the list with the biggest market caps. also rate ad buy bit firm. cisco, qualcomm, arm holdings, te connectivity and microchip technology. surprising two tech heavyweights are missing from the list, google and apple.
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the firm while it likes the stocks it doesn't get the best designation. go to our homepage and find out facebook.com/afterthebell. david: more names for you with stocks that. with stocks at lofty level, investors are looking to drop high flying favorites and invest at fast growing companies at reasonably priced. liz: we have someone who says the three stocks could double earnings in five years. he did the works, you get to benefit from it, jack hough, "barron's" senior editor. what did you look for? >> i spoke to asset management group in new orleans, valero and company, they led the pack of balanced fund and in returns. they're classic stock-pickers. only 23 stocks. concentrated portfolio. we talked about stocks that they like right now. a few of them that they mentioned are stocks that baron's is, written favorable about recently. those are ones we really zeroed on here. they are all niche businesses
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maybe not familiar names but clear leaders in their businesses and potential for rapid earnings growth which make the shares look cheap. david: i like to start out with a junk stock. this is a literal junk stock. lkq. they buy junk cars. they strip them down and sell the parts. >> it is a fantastic business. because you take the parts and sell them to who? insurance companies. looking to keep cost of repairs down. when they buy refurbished parts they save 25 to 50%. david: we see it has been beaten down. why is it down so far this year? you. >> had a while where car sales had not come around yet. what happens, the car stock gets too old, those cars when they're in accidents, they go as total losses. they don't bother to repair them. what weave seen, car sales ramp back up then. we'll have more 3 to 7-year-old cars on the road real soon. that will return company. liz: so bizarre. we haven't talked about the stock in ages. last hour, sandy vilary,
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3 billion in assets picked this name as one of his favorite now. >> it's a great position here in the u.s. plenty of potential to expand in europe too. liz: get to your second pick. >> this is retailer in texas a small retailer that sells home appliances and furniture. that is a business where you will get killed if you don't have that differentiates you by amazon and best buy. they specialize with people with marred credit. most is done with in-store financing. they get payment plans. they become experts managing payment plans and receivables for people. the stock has done poorly over past year, even though earnings are expected to rise 40% because some delinquencies went up a bit but they're good getting on top of that. we're seeing delinquency rate coming down. this company has lot to potential expand from regional to national. david: seeking out people with bad credit.
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seeking people with bad credit. staying with them. >> that is one way to stay amazon-proof. david: they sell everything except the water to put in your pool. >> that is catching a bit of a tailwind from better new home sales. the key is installed base of pools has really expanded and the spending, we've got, most of the pools in this country are more than 15 years old. you need to spend money to overhaul them. this is big base of money needs to be spent on pool refurbishing. that is more than half this company's business. this company has potential to take what they have already done here in the u.s. and expand it into europe. liz: it was perfect we had sandy villary. that was the fun you looked. anybody can buy into the villary fund. >> it is open to other -- there is no up front sales charge. they charge you 92 basis points a year. we like the fund but we like the stock picking. we like these picks.
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we like -- david: very small fund. only, all family members, right, who work for it? a couple of brother-in-laws and that sort of thing. >> too many mutual funds are benchmark huggers. go with cheap index fund or someone with a true stock picker. >> pay people to buy the index. that is wasted money. david: no overhead on this thing. thank you very much, jack. >> thank you. liz: jack hough of "barron's". farmers making hay of corn with a blockbuster harvest looking likely by the day. a bumper crop won't lead to higher farm incomes though. next we take you live out to the farm to find out how you can play the agricultural market. david: also, take a look at this, some of the smart gadgets could transform your home as internet of things takes off. these gadgets already on sale or coming soon. we have got the lowdown on your download straight ahead. ♪ ♪
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bp supports more than a quarter million jobs. when we set up operation in one part of the country, people in other parts go to work. that's not a coincidence. it's one more part of our commitment to america. then you'll know how uncomfortable it can be. [ crickets chirping ] but did you know that the lack of saliva can also lead to tooth decay and bad breath? [ exhales deeply ] [ male announcer ] well there is biotene. specially formulated with moisturizers and lubricants, biotene can provide soothing relief and it helps keep your mouth healthy, too. [ applause ] biotene -- for people who suffer from dry mouth.
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tdd#: 1-800-345-2550 life inspires your trading. tdd#: 1-800-345-2550 where others see fads... tdd#: 1-800-345-2550 ...you see opportunities. tdd#: 1-800-345-2550 at schwab, we're here to help tdd#: 1-800-345-2550 turn inspiration into action. tdd#: 1-800-345-2550 we have intuitive platforms tdd#: 1-800-345-2550 to help you discover what's trending. tdd#: 1-800-345-2550 and seasoned market experts to help sharpen your instincts. tdd#: 1-800-345-2550 so you can take charge tdd#: 1-800-345-2550 of your trading. david: amazon has its hands this everything.
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it plans to open local services marketplace. one looks to set go live, a food take-out business, and grubhub. online food ordering service. food take out service will initially part of amazon local. this is groupon aisle site. it launched when the app was quietly turned on. it was taken down, it will go live again soon. neither grub hope nor ham son. saw much movement in either direction. their stocks on the move. liz? liz: david the smart home, this is $12 billion market. it is growing so quickly with tech giants like google and apple with a home second train. they ranked the top 12 busiest home gadgets -- buzziest. we have the business editor here that spearheaded the search and matt is here to tell us about his four favorite gadgets.
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great to have you here. >> thanks for having me. 12 buzziest. how did you look at these? how many did you test. >> i don't know the total number but it was so much, that, couldn't count. we basically got all the editors and writer and reporters at "time" to go out and find fevering that you could find in a from goofy to game changing. that is how we came up with the list. liz: john chambers from cisco said this will be biggest thing. he is talking specifically about the internet of everything. these actually in a way qualify because they all link into the smart home concept, correct? >> exactly. the thing about the smart home in general is, everything your tablet or phone can do, other devices in your home will start being able to do. whether it's a crock pot or scale. liz: right. everything seems to be linked in. >> right. liz: we can put up a list of 12 you put together. as we do that, the 12 buzziest, i believe able to distill it
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down to four our viewers should see the most? >> that's right. liz: are we seeing 12? here they come on the cyber panel. in the end price points are not that high. >> no. you would expect companies to charge a super premium for these products but a lot of these are not much more expensive than the stupid version. liz: matt was kind enough to put all together, and put four of his favorites together. we begin with the beam brush. >> the beam brush is a bluetooth connected toothbrush which, talks to your smartphone and can tell you if you're brushing on time. if you're brushing enough, or if you have kids can tell them you're not brushing long enough. you know -- liz: so it will track everyone's behavior, correct. >> yes. and give you tips on hygiene. liz: do we have a price yet? it is not yet out on the market. >> no that is price to be determined. liz: this is it. i recall seeing this or something like it at the consumer electronics show in january. move on to the next thing.
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the smart body analyzer. we had the webbings ceo, his name was cedric and showing us a smart watch that doesn't look so obnoxious and funky. you say this is different product they make that you like? >> this is great. a whole line of scales. it will mesh your weight, obviously. your bmi and will tell, the monitor the air quality in your house. liz: how does it do that. >> it has censors built right in there. it is really great. talk to as phone and website. i've been using one to lose weight. it is great. liz: does it measure your pulse through your feet. >> yes. liz: that is 150 bucks, right. >> they're great. liz: the crock pot. fascinating here. >> so i don't cook much myself at home. liz: for anybody who does, when you put stuff in a crock pot it takes hours, sometimes you have to leave, right. >> right. so this, also connects to the internet and through a phone you can change the temperature, you can change the amount of cooking
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time, turn it off. so you could really do everything that you would do in your home from your phone. liz: how much is this? >> that -- liz: who makes it. >> belkin i know the company because they make a lot of iphone accessories. liz: 130 bucks. finally i have one of these, sonos this product fascinates me. >> these are, $200 wireless speaker you can add to as many, as many times as you want. liz: so you have main thing which costs how much? >> that is 200 bucks. >> the main thing. then you can buy the extras and place them all over the house. put them under the bed, folks, if you don't want to really see it they're small. >> yeah. it is great. you can stream music from the internet, from your phone, from your tablets and customize the sound for every room. liz: they have audio guys will charge you 10,000 bucks to do the same thing. >> don't need to do it. liz: matt, great to see you. matt vela of "time" magazine.
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look for the issue. very important, aside from that we'll put all of these on the facebook.com/afterthebell page. thank you so much. david, over to you. david: wasn't elon musk coming up with a transporter? i remember him coming up with a transporter. we'll put that up on the facebook page as well. you want to hear about that as well. say good-bye to speeding tickets. one automaker has a smart car with a high-tech way to scan for traffic traps. wouldn't that be nice. you don't want to miss this when we go "off the desk." traders bracing for monday's highly anticipated crop report. what is next for commodity prices and how will the report affect farmers fortunes and meat at the store? jeff flock joins us from a farm in mchenry illinois. that is coming up next. ♪ i ys say be thman with the plan
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but with less ergy, moodiness, i had to do something. i saw mdoctor. a blood test showed it was low testosterone, not age. we talked about axiron the onlynderarm low t treaent that can restore t vels to normal in about two weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especlly those who are or who may become pregnant, and children should avoidt where axirons applied as unexpected signs of puberty in children or changes in body hair or incased acne in women may occur. report these symptoms to your doctor. tell your doctorbout all
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medical conditions and medications. serious side effects could include increased sk of prostate cancer, worsening prostate symptoms, decreased sperm count, ankle, feet or body swelling, enlarged or painful breasts, problems breathing while sleeping and blood clots in the legs. common side effects include skin redness or irritation where applied, increased red blood cell count, common side effects include skin redness headache, diarrhea, vomiting, and increase in psa. ask your doctor about axiron.
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liz: soybeans slide on profit-taking as traders adjust positions ahead of monday's critcap crop report. david: let's hope that brings down other prices at grocery store. jeff flock joining us now from the fields in mchenry, illinois. jeff? liz: look at that. >> david, liz, i think that is going to happen. that is absolutely what is going
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to happen. i have jim mccormick of avondale commodities with me. look at price of corn right now. this is december corn, new crop corn. what we're looking at right now. it is already low. jim your forecast is for much lower? >> we're looking right about 4.50. we think it will be closer to $4 by the time we get to the fall though. >> here's the deal. look at this corn we're surrounded by. they talk about knee high 4th of july. we're head high already. it is an incredibly good-looking crop. >> this crop is off to one of the better starts in the last 10, 15 years. so we're on cusp of a good crop if it maintains itself. >> look at crop progress because they keep track of this thing at usda. it is almost a record for the quality of the crop at this point in the season, about 74% of the crop is good or better, and, tell you, you've got a lot of fund you say, as of this morning, you keep track of this, 140,000 contracts for the fund
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long corn? >> that's correct. they're long about 140,000 contracts. that means they're hoping this market will work its way back in the summertime. if the weather maintains itself they will start getting out of that. >> that will be kind after bloodbath, right. >> that could be a bloodbath. last fall they were short about 150,000 contracts. we could see a big position swing bit funds which will really drive corn market down. >> take a look at precipitation. this is one of the reasons the fund stayed into this. you heard stories about mudslides and floods across the grain belt. a lot of people thought this would harm the crop. that is not really reality. >> that's correct, jeff. we had problems in northwestern corn belt, a lot of rain. as a percentage of the 5% of the crop is damaged, 95% loves the crop. >> rain makes grain what they say. look at this, over my head almost, we're what, 27th of june? i would not be long corn right now. david: that is wonderful news though for most of us who have to go out to buy the stuff.
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of course, cattle eat corn, and that could bring down meat prices as well. liz: well past knee high by the fourth of july. david: thanks, jeff, a lot. if you can't keep out of trouble with highway patrol because you're going too fast, a major automaker has a high-tech way to help you. this could cheat one of law enforcement's favorite tools. you want to stay ahead of this. liz: it looks like a dolphin but it is actually a summer toy for -- david: oh, my god, that is cool. that is so cool. liz: how much is it? we'll tell you in just a minute. how you can get one when we take you off the desk. david: i want one. ♪
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because they've introduced startup new york... with the state creating dozens of tax-free zones where businesses pay no taxes for ten years. become the next business to discover the new new york. [ male announcer ] see if your business qualifies. liz: let's go off the desk. good gas mileage is a major he will selling point for cars these days but what about
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sensors that detect speed cameras and automatically slow your car down? hyundai's new genesis, has a self-braking system and the new genesis will make sure you never get caught by a speed camera again. hundred day says the new system is not able on first production of cars but will be added. david: that is worth paying a little extra for. also something "off the desk," you may want to save up for it is a dolphin a shark, no it is a boat! this fighter jet-like boat can zip along the water surface at 60 miles an hour. the boat is powered by a supercharged marine engine on the boat's stern that can turn side to side like conventional jet-ski. unbelievable. the sea breacher, can duck in and out of the water. jump up just like a dolphin. get this ultimate summer play toy, for, it is not cheap, folks. a cool $85,000. but, boy if i had the money would i buy one.
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liz: hot fun in the summer. number two thing to watch next week, federal reserve chair janet yellen's speech on wednesday 11:00 a.m. eastern. yellen will be speaking on monetary policy at imf central bank conference in washington. david: also jobs time, folks. next week the number one thing to watch, the june jobs report. now it is usually comes out on a friday of course. friday is july 4th. so this week it is out on thursday. thursday at 8:30 a.m. this jobs report could be all important in telling us how we're getting out of that winter doledrum into the hot spring and summertime jobs figures. liz: economists are looking for non-farm payrolls to rise by 210,000. they expect the unemployment rate to remain flat at 6.3%. despite ending the day in the green only nasdaq was able to post a gain for entire week. see what happened will at markets, top performing sectors for the week were consumer discretionary, utilities an technology.
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david: there we go. loser for the week, industrials, consumer staples and energy. what is coming next? liz: it is "the willis report." so you can't leave just yet. gerri willis coming right up. david: have a great weekend. gerri: hello, everybody, i'm wills wills. coming up on the "willis report," banks are on a credit card blitz and giving offers to people with less than stellar credit and that could mean big trouble for the rest of us. they call it glamping. we're hitting road with consumer reports and some of the sexiest sportscaster money can buy. "the willis report" where consumers is our business starts right now. if you noticed a lot more credit card offers -- ♪ gerri: general motors, the automaker claims no top executives knew about the defective is anything switch thates
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