lori: videogame makers outperforming. [closing bell ringing]. >> upgrade too which is good news. david: you know, the market, gives and the markets takeeth away. today they gave back just about everything that they took away yesterday. there just doesn't seem to be anything that will stop this juggernaut. we're talking about the nasdaq 1 1/2%. that is the leader of all four indexes. look at russell 2000. very broad this rally. small and mid-sized stocks represented by russell 2000 up over 1 1/2%. a very busy day. "after the bell" starts right now. david: let's break down all of the week's action starting with today. bret wilsey, wilsey asis set management who will tell us which sector you should be avoiding. it is not all up. joe durant, will tell you why you have to be careful building

positions in this low-volatility environment. nicole petallides continues with us from the nyse. scott shellady joining us from the cme. scott, practically reversal. mirror image of yesterday. is there any wall, geopolitical, economic, that this market can't climb? >> well, what it is telling me right now there so much money that doesn't trust this market or at least waiting for some sort of a pull back on the sidelines, it is actually cannibalizing itself when we get something the market can sell off on. we saw yesterday and early today, that money comes back to the market looking for a bargain. they have taken away all the losses. some indices are higher than we were started. if you're rumpelstiltskin and woke up yesterday, you wouldn't have anything to worry about today, would. >> that is fantastic way to put it. the geopolitical flare-ups and hot spots are still there we had such a robust turn around today.

what do you make of it. >> we looked yesterday, every kind of panic. what is going on here. we looked at it. we're in earnings season. earnings are looking pretty good. we'll put this global situation on the backburner until something major happens. we don't think it will. earnings look good and we'll go forward to buy companies at good prices. david: joe, let's talk about the vix for a second although i want to look at san diego behind there. brent, i want to do what you're doing, if you can afford to live in san diego i want to do that. we started talking with nicole about that. it is super low, once again. just that reinsure you or does it make you nervous? >> makes me nervous. we're obviously still in environment. market is always in a buy on the dip mind-set or sell on a rally. right now we're clearly still on buy on the dip environment and that is not been over two years since we had a 10% decline. highly unusual. and so when you have so little risk in the market, both forecasted as it is in the have,

and experienced as we've seen in the markets where, as you said, nothing brings it down, people start to get overconfident. and they start to ignore risk and therefore, create mini bubbles in certain markets. i think, chairman yellen was speaking to that issue, in a subtle way. it is being ignored bit markets way we ignored greenspan. we all need to be very careful when risk is taken out, usually, that is when the risk is the highest. lori: boy, so are you saying you're looking for a correction, severe correction? i don't want to use the word crash. >> candidly, there is going to be one. it is inevitable. no one knows when. i would just share with you think i we're probably well-overdue, well overdue. i don't think it will start with 10%. it will be a five or seven. we'll then recover and probably go down. when you have this kind of a rally, it doesn't typically stop with one mountaintop. you have double tops. you have time. so as you can see the

geopolitical events are not affecting the market. what i think you need to do is say, am i currently in a state, is my allocation be okay if we had a big decline? because it is going to come. it is just a matter of. when clearly there is still so much momentum. alternatives are so dreadful you have to to into the stock market. look at interest rates. david: that is the problem of course. we have been, we have been blown up before about, you always had the option in '98, and in 2006, the option of getting a 5% yield above inflation yield, in the bond. you don't have that option anymore. but, nicole, i'm just wondering, other than teddy weisberg, i can't think of anybody on the floor that right now is waiting for that pullback. can you? >> no. there are people who are, who have been bearish, who have actually been a little more cautious of the problem is, if you have been bearish, over the last five years, you really haven't won, right? we started at 6500 basically

during the financial crisis. here we are above 17,000, setting new records, even mark faber of the gloom, boom and doom report, just this last week or so said he really now this time is expecting a pullback. i respect the call, because to a certain extent you have a seen a run-up without these big corrections. a lot of people are waiting for it. that's why when you get opportunity to sell into the rally some people do. how much, you know, your guest makes a great point, you need, when you have investments you need to be ready for a fall. don't bet it, if you're not willing to lose it. i mean you have to know what your risk appetite is. you to understand, sometimes th. we're seeing records. people love them, 401(k)s and ira, you have to be readily for a pullback at some point. lori: the interest rate market is fascinating to me because with the expectation, scott for a higher growth in balance of the year you expect to see higher interest rates, yet we're still seeing historically low

interest rates, especially yesterday. rates stablized on justly today, what is the message in that? >> it is perverse. i'm long portfolio and equity market and indices as well as bond. we're starting to see institutional investor leave equity market and mom-and-pop are piling in. that is not a good sign. but institutional investor is hedging itself so-called, the brake we think will happen ultimately anytime soon with buying bonds. so they're also buying bonds. we have new money coming in to buy equities. that is the perverse relationship happening here. ultimately we'll get recorrection and bond play will work. bond market is telling us all is still not good. david: go to stock-picker. brent you're the biggest bull in all these folks including myself. there is one sector that you say we should avoid. what is that sector and why should we avoid it? >> well, before i tell you that i talk about san diego again because when i leave here,

summer, friday afternoon. i'm going to the beach. david: thanks a lot. not enough you have to have the picture behind you. go ahead. what sector -- >> it is beautiful going in. but back to the business side, retail. retail has been beaten up so bad. when you look at jobs report, jobs getting better, consumers getting better there are concerns. look at bed, bath & beyond. here is company trading 12 times earnings. their sales are up 2%, earnings up 4%. no debt on the balance sheet. you have an earnings in 2016 of $5.34. i have a target sales price of $88 year-ending december 5th fifth. that is 47% gain. david: brent, i love those picks, but i ask you which sector do we avoid, not which stocks do we go into but which sector we avoid. >> i'm sorry. i missed that. the one we avoid, i think people forgot investing 101 of

utilities. utilities are way high right now. remember when rates go up, bond go down. utilities go down. talking about sempra energy. this utility is trading 24 times earnings, 2times forward earnings. it is just ridiculous. people wonder why they lose money investing because they overpay for things. stop and look at valuation what is you pay for something. don't buy high. buy low, retail. not utilities. lori: joe, you sent along etfs, broad range of etfs. get into some of those. >> one of the areas we find interesting are the dividend growers. we had very good time with did i denned payers. we think now in a more growth environment you want to actually go with companies that can afford to grow the dividend, which are more insulated from rising interest rates. that is interesting way to invest. the other go focus on s&p 100 which benefit the most from

economic growth and expansion. those are two areas that are interesting. if you're willing to take interesting risks, then local emerging market debt is interesting because just the currencies have been hit hard. david: wow. >> you can get appreciation as well as really attractive interest rates but that is not for everyone. david: right, right. >> just speculative for some people. david: risk and reward. some people choose the risk right now. bret wilsey, joe durant, thank you very much. nicole petallides, scott shell lady, we'll come back to you two after the break. thanks very much. global investors are watching ukraine very carefully as new details emerge about the malaysia airlines plane crash. russia and ukraine now pointing fingers at each other who is responsible. we're live in kiev with very latest. lori: what a mess. russian stocks continuing the week-long slump with both major indices falling 6% this week. could this represent a buying opportunity? one investor thinks so. he will make his contrarian case and tell you how to play it

next. david: love the contrarians. there may be finally something both sides of the aisle can agree on. is there convergence of left and the right bense crony capitalism. who says that? not only me, ralph nader. the author of the book, "unstoppable." as man and nader on the same page? you will want to hear. lori: in ukraine, israel and gaza, tweet us @fbnatb. your answers coming up. ♪. [ male announcer ] once, there was a man

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lori: shares of chipmaker advanced micro devices are sinking dropping to a four-month low. david: we saw that coming. head back to nicole petallides on floor of nyse with details. nicole. >> dave, lori, this surprised us. advanced micro devices was down over 16%, closing $6.83 a share. talk about what the chip-maker posted in latest quarter. a net loss for the second quarter. they gave a revenue forecast that missed wall street analyst estimates. as a result, several brokerage

house, several analysts downgraded the stock, cut it to an underperform. for example, over at bank of america merrill lynch we saw fbr capital cutting it to market perform. canaccord kept the buy rating but had to bring down the price target to 4.50. that being said, advanced micro made a go of it. tried to expand in other areas, including gaming consoles. and low-end servers. it didn't help them with numbers they delivered in this latest quarter. there were high hopes, dave and lori, got great numbers from intel and pc demand. customer base for advanced micro devices different than business clients for intel. they didn't quite get quarter people hoping for. that is why you saw the 16% drop for advanced micro. lori: thanks for the explanation, nicole. david: we're 30 seconds from the close of futures for the week. let's get back to scott

shellady. how do you think it will open monday, scott? >> if i knew i wouldn't be standing here. the last couple days shows the market resiliency with the price action on vix and equity indices. that could tell some folks the market is little too blase. the investing are nine inning game. the first three innings we don't like the stock market. next three innings we kind of do, we kind of don't and file al we love it. we're in inning 5 or six here and not until the final innings we're looking for selloff. david: times are god good for next three innings. scott, thank you very much. lori: hours after the malaysian aircraft was shot down yesterday, israel announced a ground offensive into gaza. fox news correspondent steve harrigan live from kiev with the latest on plane crash and fox business's peter barnes joining us from washington what the global events mean for the markets.

david: let's go to steve in ukraine. steve, first question, is there any doubt among ukrainians who is responsible for the downing of that plane? >> david, there is no doubt about among ukrainians, politicians at very top or man on the street. the anger here is white hot. you have politicians saying russia committed an act of terrorism against ukraine. you have people on the street saying they want their government to strike back and strike back with force against those russian-backed rebels in the east. the dilemma though is that the scene where this plane went down is still an active war zone. you can hear gunfire and rockets fired. that made it tough to analyze that crash scene. several world leaders coming out saying we need to get to the bottom of it. but u.s.'s ambassador to the u.n. samantha power going a little bit further, saying overall responsibility for the tragedy lies with russia. >> because of the technical complexity of the sa-11, it is unlikely that the separatist its could effectively operate the system without assistance from knowledgeable personnel.

thus we can not rule out technical assistance from russian personnel in operating the systems. >> the real question here is what this event will do to facts on the ground. on one hand you have president obama and president putin of russia both calling for immediate cease-fire. that is tough in this kind of climate where passions anger white hot after this tragedy. dave, lori, back to you. lori: steve harrigan. from kiev to the white house let's go to peter barnes. peter, the latest? >> hey, lori. wall street and investors are following every word out of the white house on the situation in the ukraine as well as the israeli invasion into gaza. they are worried about sanctions on russia and escalation of these conflicts. the president met this afternoon with his two point men on russian sanctions, treasury secretary jack lew and secretary of state john kerry and in the white house briefing room the president made clear he blames

russia for creating at least the conditions for the downing of flight 17 by continuing military support for russian separatists. he warned he will approve more sanctions on russia but would not stop but with care so the u.s. does not endanger the global economic recovery. >> russia is a large economy. there is a lot of financial flows between russia and the rest of the world, but we feel confident at this point the sanctions that put in place are imposing a cost on russia their overall impact on the global economy is minimal. >> and "the wall street journal" is reporting that european leaders are considering ratcheting up their sanctions on rush that. but of course it is unclear how tough they would be given europe's strong economic and energy ties to moscow. david and lori. david: peter barnes at the

white house. peter, thank you very much. lori: so president putin may be playing hard ball over ukraine and giving russian stocks even more reason to slide. despite the uncertainty could it actually be a time to buy russia? we'll tell you why. david: buy low. consumer champion, ralph nader. already it is creating waves. next we talk to mr. nader about unlikely new alliance between the left and the right, fighting against crony capitalism. lori: many so of us, may enjoy the popular five-hour energy drink from time to time but you might want to think twice. david: oh, no. lori: before taking your next shot. david: i do take shows shots. ♪

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david: time for a quick speed read of some of the day's other headlines, five stories one minute. first off, sotheby's is planning to lay off unknown numb per of global workforce by end of the year. the job cuts, part of company's long-range process that began earlier this year. oregon, washington, vermont are suing makers of five-hour energy for allegedly deceptive and misleading claims about the millions of energy shot bottles it sells every week. all three states are seeking civil penalties and restitution to consumers. the company's annual sales are about a billion dollars. amazon offering unlimited reading and audio book services. the new offer costs about 9.99 per month and will be available on various mobile devices. facebook is testing out a new buy button. the feature will allow users to pay for e-commerce purchases from other bust leaving its site or app. 401(k) retirement plan

balances soared to record highs because of the market according to analysis by fidelity invests. the average balance rose 12.4%, $91,000 at end of second quarter. [buzzer] lori: you busted. david: good news for 401(k) shareholders. lori: that's true. one day of at malaysian airlines jet was shot down over ukraine the russian markets fell again. the rtx index down 8% and msx down 4% this week alone. david: is now the time to invest in russian stocks? that is what our next guest says. nicholas varney has nerves of steel. he is global capital investment chief officer, with two-ways to play the russian market. nicholas, great great to see you. in 1990s, lost a billion dollars. george soros is not a dumb guy lost a billion. somebody back then said i would rather eat nuclear waste than invest in russia.

now some people are saying the same thing about russia right now. what do you tell them? >> well, i'll tell you what? i've been following this market pretty closely since 1996 and russia is always been the most hated market in the world as indicated by the quotes that you suggested but ironically at the crisis points which we're hitting right now again, that you can actually make, if you're willing to have, willing to take initiative and risk you can go into the markets and actually do very, very well at times of crisis like this. lori: why don't the sanctions and even president today talking about possibility of even stricter sanctions against russia concern you? >> well, i think a lot of the sanctions are actually fairly toothless. some of the recent ones implemented earlier this week actually do not prohibit u.s. companies from doing business with companies like rosneft. they actually just limit the ability of russian companies to do long-term, more than 90-day

financing. more like technical sanctions so far. the, the shooting down of the airliner may change that but the sanctions so far really haven't had the kind of bite that the obama administration actually suggested. and certainly the europeans are even less likely time little meant harsh sanctions given their natural gas dependence upon russia. david: a couple of funds you look at to give you an idea how the russian market is doing generally. i know you go to specific companies as well. rusl is daily russia three times. it is really aggressive belief in the russian market. that has -- here we go. this is intraday. let's look at longer period because it has come way down off the highs. the old motto. you do want to buy low. is that why you're saying russia is a buy right now because people factored in the bad news and not enough of good news? >> you know, in short i think

you summarized it very well. back on march 18th, which is the day after the russia's occupying crimea i recommended to my subscribers to buy gazprom. gazprom proceeded to rally 20% in the next 10 days. you can do something similar investing in rusl which is triple leveraged broader market index. russia is up 2 1/2% and rusl is up 6 or 7%. in terms after very short-term trade these are terrific opportunities to take advantage of crisis periods and for short-term traders they do offer tremendous opportunities independent of your longer term view of russia. lori: that is very much the key, short-term traders. what about long-term traders, real estate industry. what about mechanics of completing any trade? >> relatively straightforward to invest in russia and russian index. market vectors has exchange traded fund, ticker symbol, hsx

which gives you broad-based exposure to russian market. russian market fundamental sense, give you couple numbers. the second cheapest market in the world. greece being cheapest one on 10-year basis. it is, russia has pe of six, six 1/2 right now. it is price to book is .6. it is trading at 65% discount to the broader emerging market index. everyone hates it. very inexpensive. david: but, nicholas, you're making a great case but i just have to ask. >> okay. david: if all what we're seeing now in this area lead to war, all-out war, all bets are off, right? even you would say it is not time to invest? >> absolutely. absolutely. i think, the assumption behind investing in russia right now it is not going to lead to world war iii. that will be just a passing crisis in some form or another. that is the backdrop. david: great to see you. thank you for coming in.

still looks light out in london. stays light late there. thank you very much, nicholas. good to see you my friend. >> thanks for having me. david: the left and right may finally join forces on one issue at least. fighting a growing trend toward corporate statism in america. ralph nader discusses his idea about the convergence between free market conservatives and some liberals. lori: ever wish you could manage your digital footprint or easily clean up, delete older more embarrassing tweets? david: yes. lori: new app will do just that. it got funded because its founder took a chance and i mailed big-name investor mark cuban. the company's founder joins us straight ahead. ♪ [ male announcer ] the mercedes-benz summer event is here.

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david: so you might not think that ralph nader would be a natural ally of free market thinkers like milton friedman, adam smith and frederick von hayak. but on the subject of corporate welfare and government bailouts they're singing from the a same hymn book. mr. nader written a book with very surprising ideas of the convergence of free market conservatives and certain liberals against the growth of corporate statism in america. joining me now is ralph nader, consumer advocate and author of the a book "unstoppable" i reviewed in today's "wall street journal" i have to

tell you, ralph, i was surprised how much i agree with you. there are a lot of free market conservatives like myself, i can think of andy napolitano and charlie gasparino, agree 100% corporate statism has gone too far in this country and has to stop. go ahead. >> oh, yeah. there is such a thing as corporate coercion and government coercion. in the book i site an interview, weed ward crain, founder of cato institute. ralph, i'm against all corporate subsidies. i'm against unconstitutional wars. i'm against the liberty restrictions of the patriot act and i'm against the federal reserve running amok. i said, ed, that is pretty good start for a liberal, liberal left-right alliance to dismantle the corporate state, merger of big business and big government. >> would i say so. i'm wondering if you were surprised, i got the sense reading your book you yourself were kind of surprised how much you agreed with these free

market thinkers? you went back, i mentioned adam smith, milton friedman, frederick von hayak, who wrote the road h road to serfdom. were you surprised to say how much you agreed with them. >> i went back and read them and i didn't look at corporatist picked from this and that to agree with their statist end. from hayak and adam smith and later milton friedman, what was the theme? the theme was they did not like socialist planning economy but supportive of minimum incomes plan. they were supportive of social insurance. frederick von hayak was against medicare and medicaid. they discriminated. they left too many people out. he was full universal health care. adam smith was for public works but they were against big business monopolies. david: i would push back a little bit.

and i did in my review today, in fact how much they were in favor of government programs. i think, i think the government programs that you favor are not ones precisely that they would, and i knew milton friedman, i know he wouldn't on many of those issues. you probably would think he would. however big government can tip the balance in favor of certain big corporations. that they agree on. that should not happen. we, corporations and businesses should all have the same opportunity, equal opportunity to succeed. not all will have the same results but they should have that equal opportunity. when you have big government tipping the scales, that's when you get into problems, right. >> yeah. right now you have government guaranteed giant corporations. government guaranteed nuclear power plants. government guaranteed anything, the boeing wants. and that, destroys any concept of market competition, market verdict and the freedom to fail, which you know, the libertarians keep saying the great thing

about capitalism, not only you can succeed but you can fail. david: you're absolutely right. >> we call it corporate welfare. the libertarians and conservatives call it crony capitalism. it i same thing. it controlling government against the public interest and competitive markets by giant business which, when it fails, comes from wall street to washington for a massive bailout. david: the interesting thing is, while you see convergence by the left and right on this issue, there is also a convergence of the republican and democrats on what i and you would say the wrong side. that isings what is called the rinos, republicans in name only who are actually in favor of the government helping corporations but they talk a good game and put the, put the libertarians out front. i will quote from your book here. you say the corporatist republicans let the libertarians and conservatives have the paper platforms and then move into office, where they are quick to throw out a welcome mat for big

business lobbyists with their slush funds. go ahead. >> exactly. courtist democrats and corporatist republicans in congress and elsewhere have to be challenged by the liberal-conservative alliance i point out. i point out 24 areas of left-right alliance from public opinion to operational, to actually winning, like juvenile justice reform, like beginning to stop the nsa dragnet snooping, other things and what is interesting, what is interesting, david is this. that the majority of the people are behind most of these 24 redirections. but, they are divided and ruled bit corporatists who get the left-right focused where they disagree like, reproductive rights, gun control, school prayer and not where they agree. the media follows areas of disagreement and follows agreement. david: we're running out of time but there is one issue that the

government does weigh in on. we're talking about corporate taxes a lot here on fox business and it is way high. i mean highest corporate tax rate in the western world right now, what we have in the u.s. but of course the big corporations get the breaks. the government, a lot of corporations don't pay much income tax. why don't you come on board the flat-taxers like myself who are for much lower flat tax, say about 15%, instead of this 40%. but get rid of all the deductions? wouldn't that equal things out, give everybody an equal chance to succeed? >> i tell you, i'm for cutting out 90% of the verbage in the tax code but, if you have a flat tax it is too low, the corporate revenues from their massive profits will not support the public service that they benefit from. david: you may be surprised. we're going to turn you into a supply-sider, come what may we'll turn you into supply sider. >> that is another subject. we can talk about tax reform next time, david. david: here is the book, it is

called, "unstoppable." you probably won't agree with everything in this book, i certainly didn't but i was surprised how much i did agree with of ralph nader. thank you, ralph, appreciate it. >> you're welcome. david: come again. lori: nice review in the journal by you, david. david: thank you. it was an interesting book. worth a read. lori: i'm intrigued. that is for sure. one developer dreamed big and entrepreneur mark cuban his idea, never expecting a reply. this never happens. guess what? he got more than a replay. the two months after that the two launch ad new app that helps you manage your digital footprint of the company founder joins us ahead. david: the justice department is charging one major american company will legally shipping controlled substances. that company could face billions in fines. you will be amazed at which company we're talking about here. lori: that is head shaker. stick around for that. one of these cities named the unhappiest city in america. we'll tell you where next. ♪

shingles affected me tremendously as a pilot. the pain in my scalp area and down the back of my neck was intense. it would have been in that confined space to move to change radio frequencies. i mean it hurt. i couldn't even get up and drive let alone teach somebody and be responsible in an airplane. as a pilot that meant i was grounded.

lori: thinking of moving to a new city? you want to listen up. a harvard professor ranked happiest and most unhappy cities in america. who is smiling the most these days? taking number three spot for happiest city in america, is shreveport in louisiana. number two is huma, also in louisiana. i hope i pronounce that

correctly. it is bonn top, that is if you watch "true blood." most unhappy, south bend, indiana. and number two, same joseph, missouri. most unhappiest city in america right where we're standing. new york city. david: no, really? lori: not for everybody. hustle and bustle. david: i love new york city. these polls, who knows. lori: you can keep up with it. that's why. david: at some point we all dream coming up with a brilliant money making idea, catching attention of big money investor to turn it into reality. for one college student that came view. lori: this university of no, tex sat student sent an email to mavericks owner mark cuban and cuban responded and teamed up with jesse. you can see him on the screen. welcome to the show. i have to know, jessie, what did you think when mark cuban actually responded and then not

only responded but agreed to go into a deal with you? pretty amazing. >> yeah. i was definitely very amazed. i actually remember sitting in my history class got his email and stood up and ran out, really happy. and then we had a couple conversations more about, you know, technology in general and decided to start a company. david: jessie, when you were involved in this project, i'm told you were working 18 hour days, which you can do when you're 20 years old. it is not unusual to work that hard. when did you get your school work done? >> oh, well the good thing i was on winter break when i started awe the develop mane work. so i was able to work all the way through the day and night. david: you didn't get a break. you worked on that alone. does it interfere with your school work at all? >> not really. i have had teachers who are pretty understanding and been kind of able to balance between the two but it is going pretty well so far. lori: give us more insight and background on cuban. is he like his public persona,

kind of outspoken and bombastic in certain respects? also can you tell us about the deal you struck with him and how this will all sort of unfold? >> yeah. so working with mark has been really great so far. he has been since the very first day. we had a bunch creative input and helped along the way. he is always just email or cyber dust away. as far as the product goes, easy way to shrink your digital footprint. so basically you've been posting content to facebook and twitter and a bunch of other networks. you may not even think b we're trying to create a way to prevent that content from coming back and haunting you in the future. whether it is for job employments or any other case. david: that is a terrific idea. i was just talking to somebody about that, what happens, how do you wipe out some of this stuff if you're trying to get a job somewhere and your potentialal employer sees what is on facebook. you can wipe out what you have put on your facebook site but can you wipe out what somebody

else put on about you? >> you can not but you can post expiring tweets and facebook posts, so basically just choose a timer and once the timer is up, our system will go out and automatically delete your tweet or facebook posts, comments, likes f someone comments on the post you can take that away. if they post it they approach own it on their end. that is no way to get around that. lori: could you explain that. if somebody post as embarrassing picture you can delate that off facebook, right? that is pretty simple. what is the more complicated stuff you're trying to erase? >> well at this point we're he raising photos and text. you're constantly sharing stuff with your friend and sharing things such as what you like, where you go. maybe music you listen to. our goals going forward being to kind of erase all of your stuff across the entire internet and make i the easier to manage the online presence. we'll eventually go branch out

to other media types. david: jesse stauffer will never know how to wash dishes at a restaurant, wait on tables. you're 20 years old. you're going to do well. thank you for coming an. xpire is the name of the company. he is the cofounder. come back see us again, jesse. >> i will, thank you. david: thanks for coming on. lori: shipping giant fedex being charged with conspiracy to distribute controlled substances. david: fedex? lori: billions of dollars, yes, at stake for fedex. we have details. we'll tell you what it means are to the stock. david: also forget to having to wash your pants to keep them smell-free. one company is cashing in on scented skinny jeans. lori: no thanks. david: i don't think so either. we'll tell you about that story coming up. ♪

lori: the justice department indicating the world's second largest delivery company, fedex, in connection with its alleged role in transport prescription drugs sold illegally. david: this is a very strange case. let's go to jo ling for the very

latest on this jo? >> dave, lori, this is a very strange case indeed. you have to hear out the whole story here. fedex is facing 15-count indictment from the department of justice. the doj is charging since 2005, fedex ignored government warnings it was breaking law shipping illegal drugs sold online. if it is found guilty, fedex could pay a fine of $1.6 billion plus restitution and return of profits. but, fedex is denying any wrongdoing at all over the years saying in a statement, we have repeatedly requested the government provide us a list of online pharmacies engaging in illegal activity. so far the government has declined to provide such a list. fedex then goes on to argue the situation has a lot to do with privacy saying quote, we are a transportation company. we are not law enforcement. we have no interest in violating privacy of our companies customers, unquote. today our fox business team called up an analyst from mack query and she spoke with fedex

and told fox business the company was adamant stressing they are innocent. they asked for a list from the government of whom to stop delivering to and they haven't gotten one yet. so that is confirming some of the claims fedex is making. majority of the analysts said, company is confident in their ability to defend themselves and too soon to quantify any numbers in this case. she went on to ask fedex is this something that keeps ceo up at night, $1.6 billion. fedex said no, we have a business to run. the stock was up marginally. this is fascinating case and i will stay on the story. david: it is indeed. knowing about fred smith the ceo i don't think he would get into any of this intentionally. jo, thank you very much. >> thank you. david. smelling good hassle perfumes are -- ones may trick your allergies. lori: shower? david: there sun expected way to stay fresh. lori: what will they think of next?

david: i don't know. lori: famous folks have planets after them. others have street names. what about bugs? one lucky celeb who has a water mite named after her. that is an honor, wow! ♪ my mother made the best toffee in the world. it's delicious. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company

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david: this is a story we have been telling you about. never worry about spritzing perfume. the company called salsa, created scented pants. they come in five colors, pink, green, yellow, blue and orange. it would have corresponding fruity flavors. i would say smells. pink smells of strawberry, blue, blueberry, yellow lemon, green apple, orange, you know what that is orange. the pants are guaranteed to maintain scent for 20 washes. cost 75 bucks a pair. what do you think, lori? gerri: i that is more offensive, i should say other way around,

those pants and rear end shot is more offensive than the perfume. david: okay. >> off the desk. could be ultimate honor. jennifer lopez had a water mite named after her. they discovered new species in waters near puerto rico and decided to name it after the pop singer. the reason they chose that the songs kept the team in good mood. i think she is a star, not a mite. number one thing to watch, two key housing reports. existing home sales released 10:00 a.m. on tuesday. economists expect sales to rise 7.1%. new home sales scheduled for -- 1.7%. economists expecting sales to drop 1.%. >>, watching 146 companies in the s&p 500 index. apple, microsoft, general moat to, among the big names. bring you all the numbers as soon as they're released with

analysis here on fox business. david: you don't have to change the channel from now until 10:00, until then. isn't that nice? have a wonderful weekend, everybody. "the willis report" is next. stay tuned. >> take care. gerri: hello, everyone, i'm gerri willis. today on the show, amazon's new all you can read plan for a fla. we'll tell you what is included and not included in the deal. big changes coming to air travel after the shoot-down of that malaysian airliner. and did the airline fly over a war zone to save money? we have the best, worst products sold on tv infomercials. what is worth your money and what is not. "the willis report" where consumers are our business starts right now. we begin tonight with the federal crackdown on fedex. as illicit drug trades explodes online, regulators are honing their sites on fedex accusing the