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tv   After the Bell  FOX Business  August 6, 2014 4:00pm-5:01pm EDT

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time warner pulling back. [closing bell ringing] david: okay. bells ringing on wall street. liz: they do. by the way we're awaiting on these earnings from twenty-first century fox, our parent company but also keurig green mountain. they're expected to come in with 88 cents per share. doesn't look like the s&p can make a gain here. it is down just 11 pennies. barely flat. the nasdaq is up 2.2. just a fraction here. russell showed a little bit of strength. you call this market flat. not our show. we're anything but flat as we jump for all kind of news. "after the bell" starts right now. david: there were some individual stocks that did incredible things. we mentioned time warner and for example. walgreens weighed down. individual stocks moving in very, very big ways. let's get right to today's
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market action with bryn mawr trust chief investment officer. strong revenue and wage growth are indicator of improved fundamentals. scott black, delphi management. two names for investors. todd horowitz in the pits of cme. todd, i want to start with you. you have earnings season. you say we're beating because we have lowered our expectations. can you prove that? >> good afternoon, liz and david. god forbid, wednesday so the market should be up for me. you can see that the numbers have been, the expectations have been lowered with every quarter. david: hold on one second, if you can, todd. i want to get keurig numbers in here. go ahead. cheryl i believe is following those numbers. >> as of as liz mentioned we were expecting the numbers. we're getting what looks like a strong beat. keurig green mountain. estimate was 88 cents. came in 99 cents. revenue, a little shy on
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revenue. estimate was 1.05 billion. coming in at 1.02 billion. the stock is trading down. to let you look on our screen. they have been entering, especially month of june, that would be this quarter we're talking about, some key distribution agreements, partnerships with the likes of safeway and everything. they had new launches, new products. not helping them on the revenue side. but again they did beat on earnings per share. revenue coming a little bit shy. shares of keurig green mountain trading to the downside after-hours. david: let's go back to todd horowitz, talk about revenue. is that one of the problems you see in this earnings season? >> i think that's a big problem. if we're not getting revenue we're not getting growth. without talk, we keep talking about growth and growth, we're not getting growth. if you look at middle america, middle america is still in recession. we can hear about you will at great numbers we want, but end of the day we're paying higher prices. companies are not having growth nor producing anything.
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problem goes to lack of growth. bottom line doesn't matter as much as growing. we're not employing people. jobs picture is murky, even with 60 in a row of 200,000. there are things indicating problems ahead. we're looking at numbers have been not as good as we think they are. liz: ernie, numbers don't lie. i'm taking issue with todd, we can fight later, todd, 4% growth in the latest gdp number could be construed as growth. what do you construe for the economy? more importantly how does it weave itself into the psyche of market participants and investors? >> thank you, liz. thank you for having us on again. yes, we've been following growth of not just macro growth but top-line growth for companies. that is actually, as todd mentioned, that one of our concerns. i would take issue in the second quarter, according to fact set, we had over 4% revenue
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growth which exceeded on 2/3 of companies reported. first time in while we've seen revenue growth that accelerating. liz: yeah. >> we think is a positive and we see the economy goddenning. -- broadening. david: scott, when you look at various companies, big caps and small caps which ones would you choose? we saw small caps really hit hard in the first part of this year. they seem to be making a little bit of acom but which ones would you focus on right now? >> obviously you have 6500 u.s. equities, you can always find individuals. homogenously, russell 2000, russell 2500 are way overpriced at 23, 22 types expected earnings. s&p is roughly 16.6 times. obviously large cap stocks are systematically cheaper in this market. liz: large cap stocks. you like small caps, scott? >> we're individual stock-pickers at the margin. two of the companies i will
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recommend today are mid-cap stocks. one is synex, which is an i.t. distributor in fremont. i just spread them. the stock is selling roughly 10 times next years earnings. earnings are up nine or 10%. the other company is a little company, not well-followed, on semi. onnn. based in phoenix. it is a giveaway. the stock is like 8.656789 they will earn a dollar for coming fiscal year. they earn over 20% on book an generate cash. there are opportunities but you have to dig very hard to find these obscure stocks. david: ernie, you like tech too, a larger company, one we heard a lot of and one that has come down a little bit since its earnings came out a couple weeks ago, microsoft. >> yes. david, thank you. i would agree with scott's point. we actual like the large cap sector. market cap sector. microsoft in particular has performed well. we like the direction that the
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new chairman is taking the company. one of the themes really has, for us rebound in capital spending. we see the rebound in capital spending also on the tech side particularly on enterprise spending. so we see microsoft beneficiary of the cloud enterprise as well as mobile communications. so we like the fact that he is doing it, we like the fact he is taking a hard-line, although it is difficult laying off people we think the direction is positive for microsoft. liz: so that brings us back to todd. microsoft's stock is at highs it has inseen in so many years, at least hovering around there. i will pick silicon valley names right now because i'm familiar with those lately with the numbers. facebook crushed it. twitter had great numbers. what do you mean, things are so bad out there, todd? >> when you look at the middle class, when you look at small business they're all struggling. banks are still not providing liquidity to loans. they are forced to use credit cards and pay use you arery
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rates on loans. it was reported on fox done by different algorithm they used three times in the past. i believe that number, we'll soon see the number readjusted back down later. i don't see the growth. maybe it is in the midwest. liz: we've got twenty-first century fox numbers. cheryl casone has them. >> liz, we are now getting twenty-first century fox numbers and we're coming in with a beat on both earnings per share and revenue for the company, of course the parent company of fox business network. earnings per share estimate was 38 cents. it came in at 42. look at the stock. it is trading to upside in after-hours trading, trading up 1%. the stock was 3% higher going into the close. revenue, a beat. a couple of things i want to point out. the cable division, the cable side of it, include fox news channel, fox business, that was actually very, very strong. film entertainment coming in 1.49 billion.
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broadcast satellite television. if you look at television revenue, 1.03 billion and cable network programing revenue, 3.35 billion which is very strong number. that is what i was referencing earlier. we're getting strong results in from fox. a lot of questions from analysts of course. one analyst at morgan stanley saying basically a big question mark for the conference call what is going on with the ratings on "american idol." the stock is down 6% year-to-date. a lot of that was based on time warner, you know, the time warner acquisition that is no longer happening. anyway, shares of fox up about 1% after trading. real quick, guys, green mountain keurig, green mountain is up he have% right now. i brought you that stock a few moments ago. 7% jump on keurig. david: see details -- liz: looks like a drop. david: one thing we should mention about twenty-first century fox, yesterday in addition to hearing about that deal collapse, we also herd there would be a stock
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buyback of $6 billion of twenty-first century fox. todd, what do you think of the collapse of that deal? does that portend anything for future deals? >> i don't know the answer to that. david: hold on, todd, go ahead. >> i think it is, i think it is a good deal for them. i think they will figure out a way to get it done. i think mr. murdoch is kind of holding the cards right now. he is very strong, very good in the business. i think he will figure out a way to get done because i think long term it will be very good if they work it out. i think they figure out a way to work it out. time warner played hard ball. mr. murdoch showed them he plays harder than they do. liz: a fascinating development. we'll see if it is really the true end. we'll watch it. thank you very much. david: ernie, thank you. scott black. todd, we'll see you in couple minutes when s&p futures close. david: the ebola virus claimed lives of more than 900 people in the worst ebola outbreak in history. we'll talk to a company with a potentially life saving treatment ready to go.
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they have done the experiment on monkeys. they're waiting for permission to do it on humans. they can't get government clearance. we'll discuss why. liz: investing in a hedge fund can cost you a pretty penny. two and 20, you heard about that. it all goes to the managers. they are often closed to average investor but we're giving you ways to invest like a hedge fund manager without paying the big bucks. david: also 47 companies in the last decade have fled the u.s. and set up shop abroad where tax rates are lower. now the treasury department is looking at ways to block the surge. we may even see executive action by the president. unilateral action. they have not ruled that out. what do you think about that? what does steve forbes think about that? the chairman of forbes media will be joining us. liz: we want to hear from you. the president not ruling out executive action to prevent tax inversions. should he? does he have the right to? will congress move about it? tweet us @fbnatb. your answers coming up. ♪
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get live squawks right in your trading platform there was like an i haderuption on my skingles. and burning. i'd lift my arm and the pain back here was excruciating. when i went to the doctor his first question was "did you have chickenpox?" i thought it was something that, you know, old people got. david: very volatile after-hours action for keurig green mountain. liz: let's head back to nicole petallides. she has the reason it is moving lower. nicole. >> let's look at the numbers overall what it is doing in the bid-ask. revenue came in a little bit light and that's part of the problem in the after-hours. they had earnings per share beat. revenue a little bit light. the revenue seems positive for
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the fourth quarter for earnings per share and also sales. however, that is good news. and the full-year as well. i think that revenue number is really what everybody continues to focus on. it is looking down about 60 bucks here in the after-hours. you know very well they have the k-cups. they have been doing a lot with making deals with companies such as nestle and others. they continue to grow but a revenue miss there. that may be hitting the numbers a little bit. liz: we're learning, nicole, guidance for the current quarter is a little light although full-year guidance is strong. david: it is down 4 1/2%. thank you very much. nicole petallides. this one of the totally a few companies with potential treatment for the deadly ebola virus which claimed more than 900 lives in west a can. the biotech company is urging federal officials to consider allowing use of its experimental drug to try to stop the virus in humans. liz: right now there is enough supply to treat two dozen patients within a week. what need to be done to get the treatment approved? joining us now, is the serepta
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therapeutics and ceo and president. this is publicly-traded company. is drug, am i pronouncing it correctly, ov i3537? >> that's correct. liz: talk about. you don't have a lot of this stuff but can you fast track its approval? what is going on right now in your world? >> liz, it is very simple. we're a company in the r and a technology business. we focused all of our efforts to use this technology to treat another fatal disease, duchenne muscular dystrophy. we wanted to let the government officials know that we do have some drug that is remaining from a government partnership that ended in 2012 where we had good efficacy. we believe good safety to be administered in the case of an ebola outbreak. and so we have enough drug substance to treat a couple dozen patients. and we've already been in touch
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with government officials from the cdc, the fda, the state department and department of our collaborator. and so, you know, we simply, you know, wanted to let, those know, if the need is there and we have a government agency that requests the drug, that we're ready to respond. >> chris, i understand this drug has been tested on monkeys and other primates. it has never been though tested in human beings. would this be the first time? and if so, what is the protocol for testing on humans for the first type, for this drug? >> yeah. with diseases like ebola, these hemorraghic fever viruses that are a result of these outbreaks, you can't have, you know, clinical trials conducted the way you would for normal diseases. david: right. >> so the fda has a pathway called the animal rule which means if you sew efficacy in an animal model that can be the
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basis of efficacy -- david: by the way we're showing effectiveness of it. off to 80% effective in primates? >> that's right. it has been tested for humans with safety in smaller doses, lower doses but we also tested with higher doses with the same chemistry against another hemorrhage rick fever virus called marchburg. liz: chris, what kind of attention are you getting now? you're on with fox business. i imagine your phones have been rigging. who is calling you? are you in touch of african authorities? what is going on? >> liz, it has been remarkable, never imagined how much interest it would be in this technology for ebola right now. i understand it is an urgent outbreak but we've been focused over the last two years with urgency to get a drug approved for due shen muscular dystrophy, that is 100% fatal. it affects young boys and young
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men. that is where our 100% focus is as a company. we happen to have drugs sitting aside for ebola because everybody wants to be able to response with urgency for this fatal disease and uncertainty about how widespread this outbreak can get. you know, obviously we've been in touch with the fda. the cdc, we've gotten signals they would be there for support and provide the approvals necessary. you know, should another patient, you know, come up that need this drug. david: let me ask a simple question. i know there is, environment is very competitive in which you work but i would imagine under these circumstances you are working with some of your competitors to come up with a cure, are you not? >> well, again our focus right now is on rare diseases like duchenne muscular dystrophy. the federal government and department of defense had over several years supported this same technology to treat other infectious diseases.
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ebola was one. marburg hemorrhagic fever virus, influenza. we had at love programs. the important thing we don't know what the next outbreak will bring. what the next virus will be. is it another ebola or like west nile or another pathogen. this is where our technology has adaptability and versatility to be prepared for these types of outbreaks. we think if the government and other private public foundations can continue to support this technology moving forward we could be better prepared for future outbreaks. david: chris garabedian, we wish you the very best. we hope whether you do it alone or with other companies you come up with a quickly. serapeta ceo and president. >> thanks a lot, dave and liz. liz: summer mobile gaming sensation starring yes, kim, kim kardashian. this game reportedly pulling in
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hundred of thousands of dollars every 24 hours. we have the ceo behind this gigantic hit. glue mobile. david: the news of the day, the drugstore chain walgreen says it will not join the tax inversion party even as the obama administration turning up heat on companies that reincorporate overseas for the lower tax rates. steve forbes, chairman and editor in chief of forbes media weighs in on this controversy. liz: they are three of the newest and coolest automobiles on the market but they have one potentially huge drawback in common. stick around to find out what that drawback is. ♪
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liz: time for a quick speed read of some of the day's other headlines, five stories, one minute. first up, tesla resolved its long running trademark dispute in china. the electric carmaker's deal removes an obstacle to the growth plan in china which cofounder elon musk expects to become the company's biggest global market next year. bacon prices hit new all-time high. price of bacon across america soared 41% over last two years. david, currently averaging 6.$1 per pound. apple and samsung agree to drop all patent lawsuits outside of the u.s. the rival smartphone maker issuing statements, vowing to pursue, ongoing litigation in the u.s. fight is not over there. russian hacking gang stolen more than one billion user names. more than 500 million email addresses this. massive breach was detected by
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milwaukee-based firm, hold security. timex is entering the smartphone market with "iron man" gps plus device t will work independently of your phone. it will cost $399.95. that is today's "speed read." [buzzer] david: you talk about the bacon but who brings home the bacon but hedge funders. hedge funders are now more popular in recent years. unfortunately investing in a hedge fund is very expensive and it is limited to accredited investors only. liz: but when if we told you there was a way you could invest like a hedge fund manager without paying heavy at this fees? our next guest has three ways to do just that. joining us, greg zuckerman, "wall street journal" special reporter. greg, the two and 20 model, these guys get 2% of the entire asset of the fund. then they get 20% of the profits. highly expensive and frankly late think their returns are not that great. this story comes at a perfect time. >> yeah, i'm not one pounding
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the table urging people to invest in hedge funds. they have underperformed as you suggest over last few years. longer term they have done better. if you argue today is expensive market, then they are a good place to be, because they can go both long and short. that is the argument for hedge fund now. david: they do especially well in down types. it is true you look at good times in s&p, sometimes you're better with an index fund in the s&p. but in down times they hold. alternative mutual fund, they try to mimic what hedge fund do, right? >> yeah, they're a relatively new category. they try to be like hedge funds. they don't charge as much incentive fees and profits you have to give to them. david: one example is mainstay market field. you might have heard of them. >> management fees are quite high. 4%. you have to believe in hedge funds to be in them. they try to do what hedge fund do. they go long and they go short. not a bad place to be if you think market is expensive. liz: average mutual fund is
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somewhere 1% and that is even high. >> exactly. liz: but again, is there a minimum to get into that? >> for these mutual fund, no. that is the advantage. a lot have done okay last few years we'll see if tested in a down market. david: you saw how well they did this year, not too well, but again their focus is on the downside. some folks think if we topped out you might want to get into hedge fund. there is another category, liquid beta. they don't have a name because they're so new, right? >> yeah. these are etfs, exchange traded funds try to match index of hedge funds. if you think hedge fund will do well, they try to, not clear they can always do it, match the returns of hedge funds, broad index by back testing. not clear how well they will do in the future, examples. >> i don't want to specifically name anymore, as you suggested very new and they're not so tested right now. liz: on the green are ones can in away as you say replicate the fund. credit suisse. >> hopefully can. liz: yeah, hopefully.
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everybody is down today but it was a weird market today. when people look at hedge fund, what becomes attractive about them they offer alternative ways of investing, big plug for dierdre bolton, 1:00 p.m., every day, she has alternative investing with dierdre bolton. what enables them to do that? >> they look allocation has been for hedge fund in the past all over the world, globally, in the u.s., commodities, currencies, et cetera. they try to do something similar. i'm more a fan of third way which is copycat investing. that is looking at exchange, i'm sorry hedge fund that released figures on what they have been buying, what they have been selling and you sort of piggyback in terms of what are they doing in terms of the best ones. david: that is your favorite way to play this? >> yeah. you don't want to put all your money in that kind of thing. i'm big fan of looking at 13-fs they disclose. you look what they're buying. what they're selling.
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not say you do everything what they're doing but gives you idea if you like health care you look what they're buying. david: you will get in after they do. sometimes they get the best pickings. greg, good to see you. we appreciate you coming in. >> thank you. liz: keeping up with the kardashians has gotten a little bit easier if you play the mobile gaming blockbuster, kim kardashian hollywood. or you play the stock of the company that makes the game. we're talking with ceo behind this massive hit and what else he has got in his gaming pipeline. david: also president obama, turning up heat on companies that reincorporate overseas to cut their u.s. tax bills. is that why walgreens is down today? we'll talk to steve forbes, chairman and editor-in-chief of forbes media, about whether the obama administration is dodging its responsibilities on reforming, bringing down those corporate tax rates so companies won't leave. that is coming up. ♪
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david: walgreens shares are way down today after the drug chain giant announced it would not be moving its corporate headquarters out of the u.s. to take advantage of lower taxes abroad. this practice is being called inversion. the president hates it so much he won't rule out executive action to stop it but should the government dictate where businesses can and can not move? answers now from steve to. author of the new book, money. we welcome steve, thanks for coming in, steve.
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>> there is the book. david: there we go. we got a plug for your book in, you will be happy to know. white house press secretary joshenest was asked specifically whether the president would act on his own to prevent companies like walgreens leaving u.s. with high tax rates here. here is josh ernest said. >> he, announcements we have to take that the steps president could take unilaterally. i will announce them at a later time. david: he did not rule out executive action. a lot of senators are pushing him in that direction. your reaction? >> all a game, david. first of all if you make a profit in the united states, whether you're headquartered here or headquarteredderred overseas you pay taxes on profit. you're not avoiding u.s. tax. what companies want to do is avoid having to pay taxes on their overseas earnings. the u.s. is about the only country in the world that taxes overseas earnings, even if you're located here in the united states. no other country does it.
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if you're head quarted in britain. you only pay u.s. tax, not brittish tax as well. companies will not avoid u.s. tax. what the admin operation is doing, playing politics, class warfare, making it sound like they're moving jobs and resources overseas. much it is not addressing the horrible tax code that we have here. it is typical obama play of avoiding the real problem. david: talk about the tax code in a second but what about the precedent for, a president saying that a company can and can not move in certain areas? >> he has no authority to do it, especially what is involved is moving a mailing address or to reincorporating overseas. you're not moving assets. you're moving your corporation. it is a complicated thing in the best of circumstances. what he is doing, is using u.s. muscle in effect to try to intimidate companies to score political points. david: charlie gasparino calls
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it fascism. would you call it that far? >> i would use more polite word, statism or socialism. but it is same thing. government trying to control companies. they realize you don't have to nationalize companies to control them. you see with banking, trying to turn them into utilities. same thing with health care. david: in certain ways the corporations have led themselves in this direction. walgreens, for example, takes in about $17 billion in medicare and medicaid in terms of the payments for its products. so that many people say could be used as leverage and they were worried about that money, that revenue source drying up by the government if they moved. >> well, the government can't deny a legitimate business, if walgreen's sells prescription drugs. david: don't be so sure, steve. the government has been doing a lot of things we said they could never do. >> that gets to whole lawlessness thing and speaker boehner's lawsuit against the administration that is coming. this president is acting like he
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is in venezuela and he is not, thank you very much. david: is anybody talking about lower tax rates? the corporate tax rate in the u.s. is the highest in the civilized world. about 40% right now. why not just lower the tax rates, get rid of deductions. do for corporations what you say we should do for individuals, a flat tax? >> oh absolutely. there is support, large amount of support among democrats to do that but the republicans won't enter into negotiations because they don't trust the president. the president wants to use tax simplification. his version is to raise taxes. and that is not going to be on the table. and in terms of this inversion thing, it has been so distorted and misunderstood, that even some republicans are going along with the idea of at least peacing in the senate, a bill say you shouldn't or can't do that. they have no legal authority to do it. as you say, who pays attention to the law these days. david: politics goes on both side, both in terms of democrats and republicans. final question, very quickly.
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is it true that republicans are reticent to do, to lower the corporate tax rate because of the pressure from corporations, that are getting special deals? >> i don't think so. i think if there was real move to do it, if the white house was serious about it or the next president serious about it, they would sit down and do it because it is highly popular with most business. and i think, on the same thing on the individual side. so it is all a matter of leadership. leadership is lacking in washington which is why we get this kind of nonsense we're talking about today. david: steve forbes. author of new book, "money." steve, thank you very much. >> thank you, david. david: liz? liz: david, the economy may be improving but senator elizabeth warren is warning americans that some hot-button issues are on the verge of exploding. which ones? adam shapiro spoke with liz warren exclusively. he is joining us straight ahead. also kim kardashian could make more than $80 million from a hot new mobile game based on her life but, there is one person who stands to make even
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more, the game-maker's ceo. should you be looking at this company? he is our guest. which of these cars is being named the most packable vehicle on the market? stay tuned. we're going to tell you after the break. you've got to find this out. ♪ [ male announcer ] it's one of the most amazing things we build and it doesn't even fly. we build it in classrooms and exhibit halls, mentoring tomorrow's innovators. we build it raising roofs, preserving habitats and serving america's veterans. every day, thousands of boeing volunteers help make their communities the best they can be. building something better for all of us. ♪ thank ythank you for defendiyour sacrifice. and thank you for your bravery.
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david: cybersecurity experts warn cars and suvs may be the next big target for hackers. experts say 2014 and 2015 model vehicles to determine which were most vulnerable to so-called remote attack or wireless hacking in order to gain entry to the vehicle. the results if you have 2014 infiniti q-50 watch out. the it was rated most hackable vehicle of all. features multiple different wireless platforms susceptible to wireless attack, pressure monitoring, wireless key entry and cellular connection could do it. jeep's 2014 cherokee, with many same wireless features as infiniti q50 and wi-fi network. third most hackable car, according to the report, 2015 cadillac escalade has as many wireless access points as cherokee. david: i think liz has one of those? liz: no, dude. but that cherokee is sweet. hackable. last month we were ahead of
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the curve when we told you about the popular kim kardashian hollywood game that has now gone viral. >> reality star kim kardashian launched a new videogame called kim kardashian hollywood. it is helping one relatively unknown company win big. liz: wish you were watching and bought glu mobile. this is the videogame maker behind this huge hit. it is now making big bucks from the game's success. huge. the company is expecting to have the most profitable year in its young history but with me now is the man running it. he is glu mobile's ceo, ticker symbol, gluu. small cap. under 500 million. we like to let people know that. but it is jumping 89% over the past year, no doubt much of that coming from this kim kardashian game. how did you strike this partnership with miss kardashian? >> it started about 18 months ago. i went down to hollywood to strike actually a number of hollywood partnerships principally take game engines we
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knew monetized well, had core game play that was fun and retain its audience. we did a deal with the folks behind the james bond series, folks behind the terminator series and kim, as well as couple more deals with mgnm. she is one of actually vintage of partnerships we did. >> i know you can't break out exactly how much it is making but would we be wrong anywhere from between 500,000 and $700,000 a day? that's what we're hearing? >> what we disclosed on earnings call last thursday was the game made $1.6 million in the first five days of launch at the end of q2. >> wow. >> $320,000 is on the tape right now. liz: what is interesting, it is free. only when you start to buy the pixilated stuff that goes with it, correct? clearly it is addictive enough people are doing that. >> i think it is unique game. it has 160,000 five-star reviews.
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commercially successful, and only game bringing real world into the virtual world and mirror's kims world in a lot of ways. yes you're correct we make money through microtransactions or advertising but it's a big audience space. liz: i get annoyed and touchy with people who say kim kardashian is famous for doing nothing. she is a businesswoman, is she not? tell me about your dealings with her or some entrepreneur around her -- entourage around her making decisions? >> we have a good relationship. we exchange one to three e-mails a day. liz: she. liz: does she respond. >> she is responsive. she knows what her fans are looking and what it is b she is engaged how we improve the game, make it more interesting with more locations, more features, more content, new clothing lines that she likes. liz: you would be nothing if you had one game. you've got dino hunter, you have a bunch of other games. you made a 100 million-dollar acquisitions spending a lot of your cash pile that you have on a company called c.
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what does that bring you? >> so brings us number one grossing game in the racing category. so g-l is diversified -- glu is diversified portfolio gaming company. investment in glu is investment in smartphones and action gaming like dino and the casual space with our kardashian title. we have dino dash game. you might remember that one. liz: yeah. >> we're dominant raising player. looking to build the best diversified risk adjustment -- liz: you said we would move beyond smartphones to tablet to what? planet mars? where else do gaming opportunities lead people in the future. >> i always believed free to play is the winning business model. you can't beat that as no barrier to entry. apple and google i think they will extend the platforms to the laptop, desktop and some day living room. we'll follow them wherever they take their stores, apple tv, google tv will be a big event in
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the living room. liz: glue best ever quarter for the company. this kim kardashian game, 2.billion minutes played on it. >> absolutely correct. liz: nicholas and glu mobile. gluu ticker symbol. we were watching it early july among the first. david, to you. david: senator elizabeth warren taking on wall street you all know that, battling big banks. she is sounding the alarm over what she says are future ticking financial bombs. what are they? we'll bring you an exclusive interview with the senator coming next. also google maps adding a brand new features taking its users literally out of this world. we've got that store when we go "off the desk." ♪
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liz: massachusetts senator, elizabeth warren, sounding the alarm over ticking financial bombs from debt to pensions to bankruptcy legislation. david: fox business's adam shapiro sat down with the senator. this was an, exclusive interview, to discuss these issues and a lot more. he bring us details. >> we already discussed the pension problem, the retirement crisis.
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we talked about this at 3:00. we've done it throughout the day. the other issue people don't realize elizabeth warren introduction to washington was battle over bankruptcy reform that started in 1990s. the bankruptcy law was not passed until 2005 and she said it was anticonsumer. we talked about. here is what she said. >> what happened in 2005, largely led by credit card companies who figured out if they could keep people from going bankrupt, even though they're in terrible financial trouble they could squeeze them harder on credit cards and get more money out of them over time. and so, a whole lot of speed bums were put in place. to -- speed bumps, to make it much more difficult. here it irony, much more expensive to file for bankruptcy. the result, has been, even in hard times, that fewer families have gotten any relief through bankruptcy but here's the deal. they're in collection.
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they run up bills that they can not possibly pay. and then they get shut out of the system. >> so it is harder today for consumers to file for bankruptcy and discharge their debt than it was prior to 2005. i asked the senator, would she introduce legislation to amend the code? she didn't answer that directly. i also pointed out to the senator some of her comrades in the, in the senate, harry reid, and vice president biden and senator biden actually voted for that bankruptcy bill. she said that is the problem. that there is a great deal of money donated to both political sides. doesn't matter. they have to answer to those who donate. david: her fellow senator in massachusetts, he had markey. >> there was article in the "boston globe," who points out markey, no fan of wall street. he wants sec -- david: likes to take their money. >> that is the issue. lobbyists, he is number one designated target of lobbyists donations for re-election campaign money. number two on that list is wall street.
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so here is senator markey, who is democrat and would probably vote in favor of the kind of legislation that elizabeth warren would put forward, and yet, he is the, taking money from the very people he is also criticizing. liz: they all do. >> they all do it. david: politics makes strange bedfellows. liz: adam shapiro. david: thank you, adam. looking to the northern lights off your bucket list? you may be able to do that in floating hotel. oh, wow, to see that, can you imagine. wait until you hear where the hotel is located. details when we go "off the desk." liz: google maps may be a great tool from finding your way from point a to point b but what exploring a point on another planet? we have that story next. ♪
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shingles affected me tremendously as a pilot. the pain in my scalp area and down the back of my neck was intense.
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it would have been virtually impossible 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.
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. >> time go off the desk. google maps can take you to infinity and beyond! with two new amazing features that let i explore the moon and mars. all you have to do is zoom out on google maps until the earth is a little spec in space. they commemorate the curiosity rover's second year on mars and you'll waste a lot of time. but it's a lot of fun. >> i want pluto. a lot of fun. soon you will see these, the northern lights from floating snowflake hotel. netherland's based developer created a classic luxury glass hotel that is only accessible by boat. the snowflake shaped structure is supposed to keep this piece of floating real estate in the water. it will be installed in northern norway and is projected to open in late 2016.
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>> i would not mind going there. the white house will not rule out executive action to prevent companies from relocating to tax friendly countries. we ask you on facebook and twitter whether the president has the right do that. scott on facebook, has that ever stopped him. >> guy on facebook says the real issue is to discuss rates and not where the home office is located. >> number two thing to watch tomorrow is july chain store sales. department discount apparel and drugstore chains will report monthly numbers, they are considered a strong indicator, consumer spending trends, they account approximately for 10% of all retail sales. >> the number one thing to watch tomorrow, weekly jobless claims. economists expect the number of americans filing for first-time unemployment benefits this time around to rise by 3,000 to 305,000. >> we will, of course be watching the market movements of certain stocks that took it
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today. what happens with walgreens tomorrow, maybe people will think it's cheap. the "the willis report" is next, nor evidence of out-of-control fees for the debit cards. gerri: that's right, when do you pay a 1700% effective interest rate? we'll tell you all about it. that's right. and also coming up today on the show, how safe is our food? new warnings over u.s. imports of chicken from china. also angie hicks from angie's list is here, talking about home warranties, do you need them? and if so what should you pay? from crossfit to tough mudder. american taking fitness to extremes. how much is too much? "the willis report" where consumers are our business, starts right now. a programming note here this hour, we're expecting to hear from the president as he wraps up a three-day u.s.-africa summit in washington. he's expected to talk at the end

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