[closing bell ringing]. look at the drop. >> right, session lows. just concerns about the sanctions against russia and so you are seeing that etf of russia moving to new lows today. david: all right. talk about new lows, looks like most of the session is at the day's lows or close to it. the the dow jones looks like settling 65 points to the downside. the s&p 500, down about the same percentagewise. perhaps a touch more. nasdaq almost flat. it was in the green for much of the day but ended in the red but just barely so. russell 2000, small and mid-sized caps ticking to the upside. not a good day for the market. 17,000 level. can't seem to gain any momentum getting back up to that level. seems to have found that as a ceiling here. "after the bell" tarts busy day with earnings right now. liz: we're waiting on marriott

as well, american express of course twitter. as soon as numbers come out you get them. david: by the way i said earnings, with regard to twitter, not likely to be earnings. likely to be a loss. we'l quarterly statement. liz: let's get today's action. ron heller, ceo sell telling us which industry have quality companies trading at discount. he looked at those things for you. chris recognize letter, giving you two growth stocks you can buy cheaply. larry shover from the cme. larry, day one of the federal reserve meeting. we get big news and sometimes lately it moved the markets. >> you're exactly right. we need a move. we haven't seen anything for such a long time. today was a little bit different, we did like last week, tried to punch through the very important 1985 level in the cash. we didn't do it just like last week of the rest of the day we

wandered aimlessly. as we know right now we're drifting towards the lows. tomorrow with the fed meeting it is all about tweaking. will she tweak that from the unemployment rate, from being elevated to perhaps being moderately elevated? that is enough to change the market mood. we'll see what happens. right now traders are on hold. david: chris, one thing that janet yellen knows that we don't know is what these growth states will be we'll get in. the big question what revision for the first quarter, awful, dreadful, first quarter, down almost 3%. whether we'll have a pop to the upside in the second quarter to match that. what do you think will happen there? no we still think we're in a slow growth environment. we things will be better in the second half. david: hold on a second, that ain't saying much. it was down 3%. i'm talking about whether the pop will equal the downside movement in the first quarter? i mean that's the question. whether it will be substantially above 3%. what do you think? >> i think we'll probably see

about 2% growth in the second half. david: so it won't make it? >> it will be tough. europe with the sanctions going on, we think at that will probably take a little bit of growth out but we're still looking for stocks. david: i have got to stop you here. we got american express numbers. chairman cast as has all the details. -- cheryl casone has all the details. we're getting american express. earnings per share was 1.38, they came in at a buck 43. actually a very nice beat for this company. this is 10% increase from a year ago. on revenue, not a huge beat but nice beat. 8.7 billion was actual revenue estimate. 8.66 billion was that. a few other headlines crossing. u.s. card services reporting second quarter net income of $770 million that. was gain of 4%. the numbers are pretty good. international card services are down, that is not a good thing. international card services down 63% from a year ago.

a mixed bag on international side, not looking so great. on domestic side for american express the numbers pretty good. numbers earnings per share. david: the stock is not moving at all after-hours because the fact it come up, by the way international figures, not very surprising realize most places overseas don't take american express. you try to pass american express card off anywhere in europe they will ask you for a visa. they will turn it down. larry, any surprises here on american express? >> not really. i think light now the stock stock rallied $8 at beginning of year. there are a lot of details beneath the surface we need to look at. joint venture closing weighing down on the company itself. we have to know about marketing dollars as well. there is a lot of competition in the high premium card environment. lastly, not leastly, basically the litigation they're facing with steering, that potential antitrust against the company i think it might be a drag.

liz: all right. let's get back to the investment picture of all of this. i bring in ron heller right now. you're bullish am i correct in you think we continue to see a rally through this? how do you invest with headlines out ukraine? we know a situation pretty serious in the middle east. tell us exactly what you focus on when picking stocks right now? >> we really focus on earnings. and specific industry that do well in the slow growth environment. we're looking for companies that have big dividends like calumet. and companies like that are able to grow their dividend and increase their production. david: larry, before we just sign off on the fact that we're going to have low growth, larry shover, you're looking back at couple eras in u.s. history, 03 to 04. 93 to '94 which we had these

growth purities. do you think the economy will spurt to the upside? >> i absolutely, i absolutely do. i'm deeply convicted of that. the parallels are pretty huge. '93, '94, '03, '04. we climb the steps and stagnate but upside growth in the u.s. like we saw in '93 and '94 that surprised everybody. that will kick the fed into high gear to start normalizing policy. we did not see inflation or recession. liz: sorry to interrupt you larry. have to cut you off. we have twitter numbers. the stock is jumping. >> it is jumping, good eye, liz claman. this stock is up almost 14%. expected to lose money earnings per share. they made money. 2 cents a share. the expectation was a loss of penny a share. they came in really nice beat on revenue. i'm going through the numbers

right now. kind of looking to see, in particular mobile advertising. here we go, this is something i want to watch. 81% of total advertising revenue, mobile advertising for twitter. it means all about the smartphones and samsungs an iphones. company saying that international revenue was actually increase, get this, 168% year-over-year. i bet you anything, liz and dave, has to do with the world cup because the world cup was a huge, huge boon for twitter. all new records set tweets per minute. i will go you there numbers. stock is going crazy after-hours. liz: you have to bring up the world cup, people were tweeting every single second about that. that brings in a lot of active users. let's not forget all of the news flow out of the ukraine and certainly out of the middle east. a lot of tweeting regarding that. but the question really becomes time, minutes spent on twitter. always lagged behind minutes spent on facebook. so that will be interesting. if they break that number we'll be watching. as for the minute here, the

stock closed, for people listening on siriusxm, you can't see this. the stock closed $38.59. we're on channel 113 on xm. the bid is 45.$69 a significant jump david. david: significant. that is 17.7% gain after-hours. again revenue has not been a problem with this, larry shover so much. revenue we knew was going to increase. whether they could increase base number many people. we were, there was some hesitation about twitter was a flash in the pan and they got tired of looking at other people's tweets about dinner and so forth. they get enough revenue coming in to support much higher stock price. >> i think that happened the last two quarters in a row. monetizaton. trends have grown. user growth has grown. it continues to grow. it is not growing at pace that will take it from a small niche, not small niche website to something size of facebook at least right now.

they need to figure out how to get products and format in such a way to make that transition. one thing promising there is slight management shake-up. the anthony noto join as ceo. that a big deal. liz: i'm glad you brought that up. charlie gasparino talked about that. anthony noto came from goldman sachs. important to point out goldman was underwriter here. nothing wrong with that cross-pollination. but goldman continued to have very positive rating on the stock, even as it fell from 72 plus dollars per share now to 38.59. we're getting excited about 46.30 for the bid. the fact it was a $70 stock. we are getting numbers, cheryl, am i correct on monthly active users? we see mobile monthly active users at 211 million? average monthly active users, 271 million. that was the june 30th. that is way less than facebook but different story here.

>> it was, liz. i'm so glad you're pointing out the fact it is crucial we discuss the fact time spent on twitter. that international story will be big. if they can get more of those international users to sign on to twitter that will certainly help. the timeline views, 173 billion, that is really good revenue. revenue numbers, timeline view number and ad revenue per 1,000 timeline views, a buck 60 they're starting to show us they can make money, liz, when it comes to getting people on twitter, engage the audience. international number is key. david: they continue to make money like they do after-hours. the stock is up 20% after-hours. for all the naysayers we could go to the negative side based on, they're having to eat a little crow right now, 20% worth ron, chris, i wish we had more

time. all what is going on with the president and these earnings. of the we urge to you come back. larry shover we'll come back to you when zap earnings close. thank you very much. two negative housing reports, pending home sales, unexpectedly falling yesterday. the s&p case-shiller index missing estimates today. is the housing recovery really over? you. nobel laureate robert schiller, cocreator of the case-shiller index will join us for details you didn't get in the press report. that is coming up. liz: don't count crocs out. the stock very close to 52-week high right now. it may be popular with celebrities like jennifer garner and mario vitale. but lately there is some confusing publicity but the company announced a massive is restructuring. it looks to revive the company as the stock is on the move. we have the company's chief financial officer with what is next for crocs. david: forget about using app to request a car. how about using one to request a

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before those little pieces would get in between my dentures and my gum and it was uncomfortable. [ male announcer ] just a few dabs is clinically proven to seal out more food particles. [ corrine ] super poligrip is part of my life now. to seal out more food particles. weit's not justt we'd be fabuilding jobs here,. it's helping our community. siemens location here has just received a major order of wind turbines. it puts a huge smile on my face. cause i'm like, 'this is what we do.' the fact that iowa is leading the way in wind energy, i'm so proud, like, it's just amazing. david: i'm looking at twitter right now, up 20% after-hours.

it really blew numbers away. >> yes indeed, as the stock skyrockets, head back to nicole petallides on floor of new york stock exchange. nicole. >> blew it out of the water. twitter is unbelievable here in the after-hours, as you noted, dave up 20% with a beat on top and bottom lines. let's take a look. i wanted to focus on revenue boeing forward what they see for the third quarter 2014. they see revenue 330 million to $340 million. the midpoint is 335. with this estimate, that is well above the thomson reuters estimate of 323.71 million. so we are seeing here outlook of 330 to 340. well above analyst estimates. what is interesting what we've seen with average monthly active users that. came in at 271 million as of june this. that too surpassed analyst estimates of 265 million. saw international revenue increasing 168% year-over-year.

and advertising revenue oh all doing so well, mobile ad numbers. really impressing wall street. bid-ask in $48 range and closed at 38.59. back to you. >> nicole, decent jump there. thank you so much. david: decent indeed. home prices rose in may at the weakest pace in 15 months. sales remain modest in the spring buying season. today's case-shiller report a sign that the housing recovery is beginning to stumble? is that what it is telling us? joining me nobel prize winner, robert schiller, case-shiller home price index coauthor and creator and yale university professor the economics. we should mention, professor, the prices are still rising year-over-year quite substantially. of course less than estimates. just at a slower pace. is that the headline or is the slowdown the headline? >> i don't know. what comes to my mind the seasonally adjusted number they're starting to decline. just a smidgen.

a third of a percent. the month ever may is strong buying season. the increase that you mentioned might be a little deceptive. david: what about areas where prices going up substantially? sunbelt particularly like las vegas and miami, does that tell you anything about trend? >> well, las vegas had tremendous drop in home prices. if you correct for inflation between 2006 and 2012, i think they were down almost 2/3. a huge drop. they're coming back. they probably overshot and should come back. the question whether it will keep going. david: i was wondering if it perhaps told you something about buying homes as an investment? one would think of places like los angeles and miami. is that what those numbers mean?

>> that is interesting thought. as baby boomers retire they will want to retire to fun places. this is something harry dent used to talk about years ago that demographics matter. that may shift towards sun filled nicer places. david: i would like to live in warmer climate. last time you were here you were concerned a little bit about speculation in the housing market. there were signs that investors were bidding it up into a bubble like area. do you agree with that if. >> speculation definitely plays a role. the question whether it is forming into bubble proportions. i any it is not a real bubble yet. it might develop into that. one indicator is the expectation

this is not the latest data. pulse economicnomics expectations were quite modest something like under 4% per year. that is not bubble territory, one thing that may be a bubble. we certainly see it here in new york, of course manhattan real estate is indicative of nothing but new york very often but the high-end housing just never stopped going up. while there is high-end housing boom not only in new york but places like san francisco, it is middle level homes and lower middle level homes that are being hurt. is that correct? >> i think that's probably due to the, this income inequality. 99%. the top 1% is earning a big share of all income. so that is one effect high-end might tend to do better. the other thing, nearer in,

closer to downtown. you might have quoted manhattan when you said new york. inner cities seem to do well than the far-flung suburbs. this might reflect something about baby boomers retiring and wanting to live in city or nice urban area. david: when you talk about the divide, income divide, usually people pointing fingers. usually the president is pointing finger at republicans or vice versa. way thinking because this was fed week that fed comes out with decision tomorrow, a lot of fingers pointing at fed, that it is institution above all others hurting people in the middle class, particularly savers. you can't save money in old-fashioned savings account anymore. tough put it in the market. do you believe the fed is in the midst of next policy move, perhaps they should take some of the blame for that divide between the rich and middle

class? >> this is the fault of monetary policy in our institutions. we rely on central bank which is invention of 150 or more years ago, when the bank of england started to be a stablizer. maybe we do better job of stablizeing. we don't seem to treat people equally. one thing very lo low interest rates do, it creates very low interest income some people rely on. david: right. >> retired people particularly. so it is not entirely fair. given the institutional structure i wouldn't blame the fed. they have to kind of keep the economy going. david: maybe we need a gold standard like steve forbes says? >> yeah. david: you're on record, yeah? >> that, well, we lived with the gold standard for many decades, in the 19th century and early 20th century. if you read people from back then they didn't think it was the perfect system either.

because you have inflation and deflation and tied to the speculative price of gold. david: gotcha. there are no solutions. only tradeoffs. robert schiller, thank you very much. good to see you. >> okay, my pleasure. david: liz? liz: from gold to plastic, rubber, whatever they use to make the casual shoe crocs, it is walking back its decade-long expansion. will store closures be enough to turn around the company? the stock might appear to being doing so. close to 52 week highs. we have the chief financial officer of crocs. hawks and doves circling over fed chair janet yellen's head as fed policymakers begin a two-day meeting. which direction will yellen fly on interest rates? we'll ask the man with inside track on the fed, "the wall street journal"'s jon hilsenrath live coming up. ♪

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see car insurance in a whole new light. liberty mutual insurance. . liz: cancel all your plans tomorrow because of the federal reserve released its latest statement from its policy. and the economy has seen some conflicting data since last statement. gdd contracts it 2.9% in the first quarter and the unemployment rate fell down to 6.1% in june. >> the data mirroring what we saw in june. now seeing the equal representation. john is "the wall street journal" correspondent focus on the fed like no one else in the world and it's good to see you.

so you have written about this. we've talked about in the past how people like paul volcker didn't give a darn and did what he did. and some people suggest and the dallas fed president richard fisher talked about what he should be focused on and he said clearly that i'm finding myself increasingly at odds with some of my respected colleagues at the table. what happens in that divide? >> we are people like richard fisher saying that unemployment is coming down, some of these markets will quit their overheated. let's get going, let's talk about raising interest rates. then you have a lot of other people who are saying that we want to be convinced that this thing is for real before we start raising the industry. it and then janet yellen is in

the position of trying to manage this debate. she used to be one of the doug's. but she's running the committee and trying in trying to bring everyone together to the same place and so that is a tricky spot for her to be in and she will be tested in the next six months in terms of how she manages that. liz: everyone is looking at the data and we have consumer confidence and i'm not sure, but this was a blowout number to me and it looked a lot better than expected last week was first-time jobless claims and that's something that we dropped precipitously. so if you have this, we can put a purple but she is saying that we have to start tightening sooner rather than later. so when you think this will happen and she specifically says rising inflation.

>> but lost all of the debates over the last three or four years and they didn't want to do qe-3 or qe-2, but they were resistant to some of the things that the fed did during the crisis and we have to bear that in mind when we see george and richard fisher speaking today they tended to be on the losing side of these debates. but what really matters is the data that we have been talking about and the data is really pointing towards the fed moving sooner rather than later because it is a fact that the unemployment rate has come down much more quickly than the fed expected. they were saying that the jobless rate will get the 6% by the end of 2015 and that's 18 months from now and that's already there. so they have to take this into consideration. >> you have written about this and i have the new question the federal reserve. there are a lot of factors in the employment stats that don't

necessarily get this like labor participation force in the part-time workers. >> that's right. the interesting thing is that a lot of those numbers and it has stabilized over the last six to nine months. in some of these broader measures of unemployment is not improving. in the first half of the three untrained ear we are lucky if we are flat. that's a big puzzle and that's something that they're wrestling with right now at the fed speak to. david: it's great to see you, thank you so much. liz: >> we will be talking a lot about it.

on your screen, notice i didn't say the way it looks. sweeping the nation coming up next, talking to a company about their plan to restructure the business from the top to the bottom. spiezio and also i'm sure that we wish that we could have a private jet. one company known as the uber of jets. we will tell you how you can join the private jet club coming back.

liz: and minute, you have it in the closet somewhere. now maybe the time to stock up on stocks. the company is facing new challenges, announcing a major restructuring which includes streamlining its product and its lines with a plan increasing the profit. joining me now is the crocs chief financial officer. what do you want our investor audience to take away from your major move lately? >> i think that we are excited about focusing the company, product lineup on the heritage as an organization around the

globe. so what we have today are great examples of where do we distributed the product line route the footwear industry and we will continue to make great strides like this. but for the most part we are focusing our attention on a product line system that makes most sense to us. >> this has been a fantastic product for us and we have been able to extend our product line that makes sense to our customers spewer monsters check this out. what about the classic line? >> in this bill our major product. about 40% of shoes are clogs and only sell a very important product. >> we will close these retail stores come it didn't make a lot

of sense to us as an organization. the rest around the globe and we will be doing that over the next 18 months. liz: what do you expect to save from the company? >> the retail store closures will get is about 50 points of operating income improvement as we reduce revenue without changing our income. the reductions that we did on staffing levels will reduce our overall expenditures by about $10 million annually. liz: i saw him at the top of a mountain in vail wearing those orange crocs and socks. >> next time you're in colorado, you should stop by. liz: let's talk about the mistakes you guys made me really learned him and what has been going on with expansion to quickly? >> sometimes they have to figure out what is right for them as an organization. we are focus our attention on

the core product line and the geography that makes a lot of sense to us coming within china and korea and japan and what europe. those are areas that we generate about 80% of revenue. liz: i think the 52 week highs about $16 and 80 cents, just rushing out at the moment. so obviously investors like this move. clearly it has been interesting that there has been a plateau from about december all the way through to now until the big spike. so tell me about the leadership that you are looking for and the ceo situation. >> we are still searching for the cd on one of the things that we have been able to do in the recent last couple of months is hire hiring president has made a big impact on the organization. we are looking for the right deal for the long-term growth of the company suan we are watching crocs, people don't want to admit it but they have them because they're comfortable and kind of everywhere. rather iconic. we will watch the restructuring.

the cfo of crocs, ticker symbol is crox. david: twitter up 32% after hours. 32% and anything can happen. but we will follow that stock very closely. so if you ever wanted to hitch a ride on a private jet without playing full price, there is now an application for doing exactly that. also, could the new restrictions on carbon emissions cause electric bills to pop all over the country? we have rich edson with the details coming up. stamps.com is the best.

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[ male announcer ] get a 4 week trial plus $100 in extras including postage and a digital scale. go to stamps.com/tv and never go to the post office again. liz: stocks growing and really popularizing the idea of sharing things like car rides and homes, but both companies are ramping up their services to focused keenly on the business traveler. not only have they released brand-new versions of the applications, but they have paired up with business travel management company concurred. this company allows business travelers to work with the two services and center speeds to their expense accounts. we should point out the this travel industry is expected to generate 1.2 trillion in revenue

worldwide. david: but don't think that they are the only companies revolutionizing the economy. now there is an uber for private jets. liz: it allows you to charter jets or get an empty seat on a jet at a discounted price. how can you get your own luxuries like? joining us now is this 25-year-old founder and ceo. it is great to see you and we found this very interesting. let's talk about how the they came up with this idea. >> thank you for having me. downloader application you can hitch a ride and skip the airport line, with back in 2009 i started flying private after i sold my first i.t. company and i came to the swift realization that it was a very archaic in this re-and you had to deal with

brick-and-mortar process and pick up the phone at late hours and i developed a few relationships with the carriers that i traveled with and in about 2012 when these ridesharing applications are getting very open, i said wouldn't it be great to the get a private jet hurts a we develop this 2012 and i gave it to some of my friends and acquaintances and we use the product for ourselves and we quickly realized that this is absolutely amazing and everybody thinks that it's absolutely crazy that you can press a button and within a minute you have a private jet show up. in 2013 we've surpassed 200,000 downloads and applications store and it's really booming. david: it is sort of like a cross between uber and stub hub. these private jets of about 30% of unused capacity for most of

their seats. but one guy is paying three or $4000 for that seat and the guy right next to him is paying something else. is there any jealousy? do those things go away? >> there's a lot of utilize capacity in the entire industry is connected through this to all of the aircraft that is available. so if you're flying from new york to miami, you can always see when this is coming available and oftentimes a slight can be about $3500 for a 10 passenger jet and when you break it down at $350. >> that is cheaper than a first-class. >> cheaper sometimes an economy.

>> is that cloisonné jealousy? >> i don't think that there's any jealousy because it's accessible to everyone in the industry should be accessible. and we want to get it there to the entire public. liz: new york to los angeles. will that cost? >> it depends on if you're going for a retail rate on average, it's between 25 and 30,000 dollars and oftentimes can go from 18 to $20,000 and when you break that down going coast-to-coast permits them to be around $1800 or speak and can't see. that's cheaper than first-class and this is what's going to happen. that's going to happen over the course of the next five years and within a rias moving her head we want everybody that flies commercial eventually to

book their commercial travel to see if there's anything available. because the airport experience is just not there. >> there is a 5000-dollar annual fee involved in this. so it doesn't come all that cheap, but when you factor all that income you make the decision for yourself. i appreciate it and it's called jet smart if you want to look at up on the internet. and it's not just cool companies that take a hit from new epa rules, but higher costs could be passed on to you. david: also the technology update. and the prime minister is heading to dc and it could play a role in political campaigns

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liz: new rules to restrict carbon emissions from coal-fired power plants have you worried about possible spikes and electricity prices. help lawmakers met with lawmakers today looking or answers. david: rich edson was watching and he joins us with more on that story. reporter: the environmental protection agency cut their carbon output from 2005 levels by 30% in 2030. today power companies and labor leaders and pretty much any american with an opinion on the matter have the opportunity to argue about it with a handful of epa sessions nationwide, this on top of a congressional hearing. they say that they are concerned about the cost and the epa says it would raise electricity prices by as much as 6.5% by 2020. critics say officials are under mass meeting those figures and they point to the u.s. chamber of commerce readies of a more stringent rule costing the u.s.

economy $50 billion annually and the administration and others in the chamber is overstating those figures. over the course of the day the epa officials are these statistics about manufacturing cost, climate change and even cracking and demands for better passenger rail service. the proposed regulations are dividing those in washington and nationwide. >> the environmental extremists more on coal is a war on prosperity both for moffat county and the entire nation. western colorado has never recovered from the great recession. >> the epa, it's just not going to work with us. >> the cost of inaction is far too high. >> the obama administration directed the epa to finalize its carbon regulations by next june and is asking states to present their following strategies for

the leading local carbon targets. david: resurrecting to elias performance of tupac. just the beginning for holograph technology and the next step could be a much bigger surprise. and we have details coming up the on what you are paid in gold to eat healthy? you need to find out where and why coming up next.

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liz: firstly michele obama has tried to tackle childhood obesity with her campaign, "let's move." in an effort to address a

obesity problem, the dubai initiative has expanded its weight in gold program to include kids. families will get 2 grams of gold worth about $42 right now for every 2.2 pounds that their child loses. the united arab emirates bring some the six have heaviest country in the world. david: and holograms could soon be making appearances on capitol hill after the prime minister of india won his election using holograms to campaign in a lot of places at the same time. the technology company polygram usa has opened. we have scenery creation of tupac and michael jackson and there are now plans to bring virtual realities to national conventions. so maybe we should be surprised if ted cruz, hillary clinton, or even ronald reagan comes back. >> it could happen.

liz: the number thing to watch for tomorrow, stock up 32% following a huge earning fee. also giving guidance for the third quarter that also was above expectations. liz: and the number one thing to watch is the fed. the policy statement scheduled for release in about 2:00 p.m. eastern. investors will be looking for any clues about the timing and the pace of interest -- rate. liz: i'm worried about my timing and pace this weekend. this weekend i will be fighting to raise money for wounded hero soldiers. teen fox business, here i am with chris hahn. we are raising money for building homes for heroes.org. like the sergeant that was severely wounded and had by five

rockets. he was burned over some 60% of his body and blinded, lost his right leg and fingers, but we have him a beautiful home in florida that was built and he is driving. building homes for heroes.org. david: it's a wonderful cause. "the willis report" is next. gerri willis is giving consumers advice of one not to buy on amazon. gerri: that's right, a top 10 u.s. retailer, what to buy and what not to buy. americans are paying their bills so why is a boom time for debt collectors? we will have the details of a new report and also a frightening experience for 13-year-old. daughter and batter with us today. and if you like coffee and chocolate, we have some news for you. "the willis report", where consumers are our business starts right now. gerri: w