tv After the Bell FOX Business September 4, 2014 4:00pm-5:01pm EDT
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impact on the stock. [closing bell ringing] liz: tessa, we have to mention it. buy on the resume more, -- rumo, buy on the news. tesla jumping on the news it will have the gigafactory in nevada. david: we begin to mention, jcpenney, j.c. parets here two days #said it would pop. it is up big-time, about 4% today. as you look at all the indices are down. all red arrows. there was some profit-taking. there was news that bp pulling down big parts of the market. not a big down day, if there was any day to take profits apparently today was the day. we have a lot of news for you including the news for the world of entertainment, joan rivers has died. geraldo rivera, wayne rogers who acted with her. busy hour. "after the bell" starts right now.
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liz: you could call it a big movement day in the market. get to today's action. tom lieden, global trend investment president. how euro interest rates are near zero will impact portfolios and any decisions people think about making. chris rents letter, needham growthfund comanager seas investor can not let market pass them by. he has two picks. dan stesich at the new york stock exchange. a big day but at end a full of sound and fury signifying very little. ism, i love the number. independent survey. i think it justified the move. i saw this thing falling back, i said what is going on? i scrambled news services to find it. cleveland fed president cape out and said she expects 3% growth second half of the year,
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unemployment to go down to 5.5% next year. people are are taking that as hr interest rates. i don't think that will be bad in the long run but short term it, happened saks 6 exactly as i thought it would when people talk about hire rates. david: talk about europe, and specifically the monetary union today weakening currency over there. a weaker currency for europe means it is more difficult for u.s. corporations to sell to europe because it makes our goods more expensive. why would that be good for the u.s. in any way, a weaker euro? >> for investoos, david, great for european companies. obviously lending rates are lower. you can imagine this is something that we went through three years ago. should do very well. however, you've got that currency hedge that you need to consider. if you look at wisdom tree's hedge equity, european etf, was up over 1 1/2% today compared to most european etfs that were actually down. that is one key thing, investors
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think about the dollar going higher as we have rates going to the up side, rates going to the downside over there in europe, that will be a big component for the global allocation in your portfolio. liz: global allocation but what do you pick and how? chris, made me laugh, said do not let the market pass you by. like the mc hammer song, do not pass me by. tell us why you feel that way. that means you must be bullish on certain equities. >> we're bullish on specific names. here we are in september, probably good time for some pullback. we've been doing our homework in the summer around technology that have good secular growth trend. one is ruckus wireless. a play on the wi-fi for carrier and enterprise class deployments. the apple phone will be announced next week. more capacity needs to be taken off the systems and wifi benefit from that. one other name we're excited about is air lease. it is international airline
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leasing company. they're great ready management team for airline assets. from global perspective air travel will go as world develops in emerging market. david: dan, talk about the fed for a second. a lot of people are afraid what we know they're going up, how soon, whether end of last year, beginning of next year. you think when rates go up, it might be good for stocks. how so? >> most certainly, if you look at the pass two recovers are we've seen, even goes further back than that, when rates initially start going up so does the stock market. the reason the fed feels confident the economy can do things on its own and propelling. a stronger economy, means stronger corporate profits mean a stronger stock market. that is going to happen again. >> ashley you got the front row see to the stock market today. it looked extremely strong. >> it did. corlownougit tay
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s&p b recdsaero the wgle to mad t atnuto do u th is ore w sing bit goi fteronlide thre things. we had hawkish comments from cleveland federal reserve president and that didn't help. talk about the big jobs report. stng bachebetter number very for rates co rising sooner rather than later. there has been talk of just some tiredness. these stocks had a really nice run, up four straight weeks. may be a bit of fatigue setting in. a lot of talk about big jobs number tomorrow. david: tom lieden, nasdaq settled down anymore than indexes we showed you earlier. you're favor buying into the qqqs, a general fund with all the nasdaq stocks. is now the time to buy in now
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that it is slacked or let it slack a little further before you get? >> i wouldn't wait. those people that waited for the big pullback have been disappointed, because we haven't seen it, david. qqqs represent nasdaq 100. a lot of talk about apple and new iphone a little bigger for those of us who needed cheaters. david: by the way, hold on a second. you mentioned apple. i got to ask. are you concerned that maybe samsung is pulling ahead? i mean that is what cut in into its profits or market cap the past couple days? >> well it has, but it has such a wide competitive mode, david, especially here in the u.s., i think we'll siebert numbers out of apple and also talking about tesla, with the news today about them, with their gigaplant in nevada, they're also a component of the nasdaq 100. so it's important to diversify rather than picking individual stocks, grab an etf that is
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technology diversified. finally crain shares, china internet etf, will one of the first etfs in it as alibaba as one of its components when it goes public hopefully the next three weeks. so there is an opportunity there as well. liz: that we didn't show, oh we did, crain shares, china internet fund -- wweb. chris might take umbrage what you said, don't try to pick winners. we have two names. royal caribbean on, with totally connected ship. you like ruckus wireless. tell us why. what is it about that particular company? >> ruckus is wi-fi play for enterprise and carrier class and lt and three g systems they need to off-load. this allows the carriers to take that off. one thing with the iphone coming out is the 802.11 ac
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chip, which is much better use of wi-fi. you have to upgrade the entire system along with the devices. so we're going to see hopefully a lost sales in that area. david: good stuff. tom, chris, ashley webster and dan stesich. we'll get back to you after the break. thanks very much, guys. ecb president drawing drawing surprises the street -- mario draghi, beginning his own qe program. is the eurozone much worse shape than we thought? slowdown in europe, will it make its way across the pond to hit our markets? we talk about that. liz: you are ready for some football. we're getting you ready. we talk to the ceo, we already did actually of fan dual in the last hour. coming up he biggest competitor to fan dual, the fantasy football league site, draft kings. how is it setting itself apart to lure some 41 million who play fantasy sports. will game players have more
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success? we'll talk about that. david: talking about cleveland browns? liz: of course. david: tragic death of comedic legend joan rivers passing away at this afternoon at 81 years old. she was dynamite. we'll talk to one of the stars of "m.a.s.h.," television actor wayne rogers who worked with her. our own geraldo rivera, they had eight shows together. working with her and how she changed the industry and reinvented herself time and time again. very successfully. joan rivers in a moment. [ male announcer ] once, there was a man
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(agent) i'll walk you guys through every step. the are a lot of buyers for a houseike yours. (husbd) that's good to know. david: pbh corp, the owner of calvin klein, tommy hilfiger clothing brands getting a big boost today. liz: ashley webster on floor of the new york stock exchange. ashley. >> this stock, guys, pvh, has done well all day, up nine to 10% on back of decent earnings, beating estimates handley on the top and bottom. these are the apparel makers, including calvin klein and tommy hilfiger. the company reported earnings of 1.51 per share, beating consensus of 1 heroin 42 handily. announcing a quarterly dividend. of course this is positive, investors liking it, pushing that stock much higher.
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i was looking at recent numbers, guys, august for retailers has been especially strong. it is kind of snuck up on us of the as we mentioned at the top, jays coming in higher. if jcp is moving higher the sector overall is doing pretty well. pvh today proving that as well. david: ashley webster at the nyse. thank you, ashley. liz: s&p futures closing momentarily. dan stesich in the pits. i know you found it interesting, the last three sessions, dan, the s&p hit highs and pool, lost all of it. >> one thing i didn't mention earlier, cleveland fed president, we have employment tomorrow. people are cautious going into that. one of the most widely expected anticipates numbers we have. keep eye on it. i don't pay much to number. i don't see what happens overtime buu i think tomorrow's number will be positive, good positive. >> 1830. david: thank you, dan,
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appreciate it. as european economies continue to weaken the european central bank kind of took a page from the federal reserve, announcing a bond-buying program with cut to interest rates to jump-start economies there. the markets reacted postively but is weakening currency a good way to strengthen the economy. joining me the mesirow chief financial international economist and a wells fargo advisor senior international strategist. thanks so much for coming in. adolpho, i have to ask, is europe falling into recession? >> i don't think we are there yet but there is no doubt that the weaker numbers over the last couple of months have increased concerns from downside risk. deflation has become a scare. there was a lot of pressure on european central bank to do something, think out of the box. hence the decisions we have seen announced today. david: samir, europe is a big
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place. some countries doing better than others of course. italy, is probably worst among them in terms of what is happening with recessionary policies and recessionary trend, but what about germany? everybody's focus is always on germany as leader for europe. was germany in danger of falling into recession? >> probably not. but they have definitely been affected not only by some slowing down that you've seen in the eurozone but also geopolitics. keep in mind germany had one of the largest trading relationships with russia. they have been most affected by geopolitics you've seen recently. in our opinion they don't go into re session. if anything this probably create as pretty good buying opportunity in german equities. we look past some of the economic data and look forward to what the central bank is doing. david: since, adolpho, what the european monetary did today will weaken europe which will help european exporters i think germany benefits more than any other country in europe, am i right?
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>> you're correct and germany has been benefiting of the overall situation in the euro for quite some time. the current account has been positive for years now, to the extent that other countries have been complaining abbut. there is no doubt the weaker euro is one of unmentionable goal of mr. dawggy and european centrallbank -- draghi. if weaker currency is what they wanted i think they will get it. david: there is question what the ecb is doing. there is question of the fed, can you ppint your way out of economic problems? don't you need really good fiscal stimulus like lower tax rates, lower regulations to increase productivity? you can't really print your way out of things, can you? >> well, i mea on this front mario draghi is taking a page out of janet yellen and before her in ben bernanke's book. look, we need help from fiscal side. we need policies and reforms that come along with different
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things to stir growth. that is where you have differing views exactly how to do it. if you listen to the germans -- david: forgive me for interrupting but the problem this takes some heat off the politicians. politicians have to lower tax rates and regulations. they don't want to do that. they're getting some of the heat taken off of them by ecb lowering rates making them easy to borrow money, right? >> you could have said same thing in the u.s. david: i would, yes. >> could have step back not done anything during the financial crisis we could have seen great depression 2.0 that would have caused a lot of politicians to do a lot of things. can you allow something like that to happen to get politicians to do what you need them to do? you have to have a middle of the road approach and do what you can as central bank and you hope the politicians come along with you. david: adolfo, one of the things about what the fed has done, of course the stock market loves what the fed has done, it makes borrowing very cheap. but the overall economy is not
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growing strongly at all. isn't europe in danger, if they follow our policies not growing faster? may help certain companies and stock market but might not help the economy overall? >> i think that is the key. monetary policy just buying some time. europe needs growth. but growth can only be achieved if structural reforms take place. we know there are political resistance everywhere in europe about reforming the economy. they needed to liberalize their markets. they needed to make their labor market more flexible. that is not very popular. and that is where the risk you were mentioning is the really kicking in. yes, monetary policy helps but also risk to create some complacency by european politicians. we are witnessing some sign of that in italy, in france, in some other countries. maybe in the germany itself. some way the risk is there, yes.
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we need monetary accommodation but mostly we need political will to do the structural reform without which we can not seee3 growth in europe. david: political will, a very rare commodity, gentlemen, good to see you both. thank you very much. adolfo and samir. thank you very much. >> thank you. david: we want to hear from you folks, is europe's slowdown going to slow down u.s. stock markets? tweet us, @fbnatb. liz? liz: new nfl season beginning% tonight both on and off the gridirons. big business of fantasy sports is as cutthroat as football itself. one of the leaders in the rapidly growing industry tells -@us why he thinks he is a winn. one gigantic chicken producer making a huge move to meet your demand for the natural food straight ahead. no antibiotics maybe? she is a force of nature not
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pulling punches in her 50-year long can year making americans laugh. joan riverrers has died. we speak to wayne rogers from "m.a.s.h." and our own geraldo rivera who worked with joan for many years. you have to hear their reminisce sense. wwho work with regional eerts who work with portfolio management experts that's wn expertise happens.
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antibiotic free movement invading chicken coops. perdue foods the nation's third largest chicken producer will no longer use antibiotics with 95% of the its chickens. lego is the biggest toy company in the world in terms of revenue and profit. danish toy-maker revenue rising 11% in first few months of year boosted by lego movie products. we go mobile phone, the device can be programmed to allow 20 numbers for outgoing calls an incoming texts. the world's first 3d printer to fly into space will be launched this month. nasa officials say the printer could lay foundation for broader in space manufacturing capabilities. that is today's "speed read." [buzzer] david. david: all right. liz: hard to make that kind of transition but we will. she was worth it. this afternoon, comedy legend and tv show host joan rivers
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died in new york at the age of 81. david: joining us for some remembrances wayne rogers and company chairman and former actor wayne rogers joins us from l.a. and geraldo rivera is here in studio. of course you're familiar with both gentlemen. they both worked for fox. i was surprised to hear, when you think of her you think of her dynamism. i saw her a couple weeks ago at west bank cafe in new york. so dynamic, running up and down the stage. she had to reinvent herself so many times and energy to take to do that is unbelievable..3 you knew her right around the time her husband committed suicide, edgar in 1987. she, was actually thinking about suicide herself. how did she reinvent herself after these down moments? >> she didn't show any of that at that time, david, that she was suicidal. she was joking bit. she joke about everything in life. you mentioned her dynamism. her energy. she was vibrant. i spent six weeks doing network
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reality show. so full of piss and virginia. and cracking jokes about everything. back when edgar committed suicide as she joked about that i helped recruit her into the day time talk showbusiness. people forget she had a day time talk show for a time after her network fox show failed. she was constantly as you suggest, if she didn't make it in that show, she would make it in another show. she was filled with this energy, this desire to entertain. everything was about getting the laugh at whatever expense. she knew no boundaries and just delightful. i loved her. she loved new york. she was just a wonderful landmark here. -@but she wasn't just laying do. she would work until the day she died and literally she did. liz: wayne, she was a brilliant comic but also a brilliant businesswoman, was she not? talk about your relationship with joan rivers and how you came to know her. had, bobby blake, i don't know whether you remember robert
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blake and i had a project we were doing and we were going to do it with, actually with fox of all people, with twentieth century fox at that time and i, joan and i were doing a tall show together at some point and i don't remember what. it came up, we're working on this she said, what is the idea about? i began to tell her. she was compulsive. that is what drove her. it wasn't just energy. she was compulsively that way. she could not help herself. and so, began to talk to her about the idea. she said, why don't you let me write it? i said you want to write it? she said sure. you want to write it, fine. so we had a series of meetings over a, you know, an extended period of time in which we fleshed out the script and some of the things that we wanted to do in the script. and it, it was perfect for her in the sense it was about bobby and i, you know, who were undercover. we had pulled off a caper and we
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went undercover and went undercover in drag. here were bobby and i catch one of those,,it's a funny idea. we catch one of those tourist ships and we're dressed in drag, you know and we have to go through all the things of trying to escape and how we get out. it was perfect for her. she was wonderful. she was, one of the most imaginative people i've ever known. you know that from her humor, that she, as geraldo said, she knows no bound. it didn't matter. david: knew no bound and was wiiling to take on anybody, including herself and her own family. geraldo as wayne was saying, so many times she was left to do something on her own. when johnny carson cut her loose after she sort of betrayed him by starting fox show. she was on her own when the fox show stopped. she must have been an incredible businesswoman to have started so many new businesses that featured herself. >> she was indefatigable. when she died, when edgar died,
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committed suicide, so you can't emergency anything more traumatic than that. she and melissa go out to dinner. she is there with her daughter. at prices, if edgar saw, your father saw prices would kill himself all over again. there she is. with daughter the only child after edgar killed himself. one thing we have to say, david and liz, i believe this will be the headline once we get over the grief of losing joan, how do you, administer propofol which killed michael jackson, this powerful sedative in an outpatient clinic to an 81-year-old woman? i mean, it is to my, outrageous on its face that, first of all when ou administer propofol the idea of propofol, this powerful sedative to slow the respiration and you are unconscious. so your heart beats slower and slower, at some point the breathing doesn't support the
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heart beat, you have to have the ability to resuscitate an frail 81-year-old woman. david: those don't know, she had a proper in a private clinic. >> a private clinic on yorkville avenue here in, york avenue here in town. it is outrageous to me on its face. i think there will be and there are already the, medical examiner and all the others have announced their various investigations as well they should. how could they do something that serious, you know, at thence hersh that is always where you get in trouble, anesthesia. give her full an sheesh that, propofol in a outpatient clinic without ability to resuscitate. liz: we saw the video of hollywood walk of fame where they're putting a wreath down right now in honor of joan rivers. such a huge loss. is there anybody comes close to what joan was? bring up business aspect. had qvc stuff. 12, number one best-selling books. she was a genius. >> as i said, i think it was
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compulsive. i don't think she could help herself. she was just a creative person who was always thinking in that way. that was her mind set. so she, it was be impossible to stop her from thinking that way, that she would have jewelry and fashion and clothes and all of these things because, she would remind me, if you suggested something, oh, i got an idea. bingo, right like that. it was always quick and on the case. and, something about propofol, i'm surprised if that was the cause of it, i'm surprised that could kill her. she was, so, you know, life like, that i think she could outdo all the propofol in the world. she was amazing person. david: she was only human but in the end what a dynamo. a dynamo. wayne rogers, geraldo rivera, thank you very much. appreciate it. >> thank you. liz: the nfl season fiially kick off tonight but for many fans fantasy football actual rings in the start of the season. next we talk to one ceo whose
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company is reaping benefits of the fantasy sports industry. david: they have performed in more concerts than the rolling stones. since launching in 1991. hugely popular, extremely successful, children's singing group, wiggles. there is lee hawkins in the middle. what is he doing there? we'll find out in a moment. [ breathing deeply ] [ inhales deeply ]
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liz: forget the rolling stones. i'm not kidding, the wiggles, i'm having heart palpitations here. this is multiplatinum children's group from australia that has been performing for 24 years. they have become a widely recognized global name. the group's north american tour kicking off, but they're here on fox business right now. david: fox business, because these are real business people. i mean there's a lot of money we're talking about here. joining to us talk about the group, anthony field, the willing gills founding member and lee hawkins -- wiggles. "wall street journal" reporter who is on the wiggles album. >> apples and bananas. david: do we call it an album anymore? i think it is cd. >> dvd. david: how did you get to be on there? >> i did interview with these guys. at end of the interview we had so much fun singing motown songs, hey can you perform. david: mow towns like, sitting on dock of the bay?
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>> my girll ♪ i've got sunshine, on a cloudy day ♪. david: i think he has got the job. >> sing it. ♪ when it is cold outside, i got the month of may ♪. yeah. come on david. >> you say what can make me feel this way, my girl, my girl. , my girl, talking about my girl ♪. david: wow, good work. liz: well, anthony you're one of the founding members. i remember interviewing you a long time ago at cnbc, a long time ago. david: what? liz: children, my children were obsessed with the fruit salad, yummy yummy, captain feather sword. this is juggernaut business,
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global huge. did you ever anticipate it would get this gigantic? >> of course not, no. three of us were early childhood teachers. we had our degrees at university. we did theater and education was part of the course. and we just put this album together 25 years ago. around put it out. there was no market for four guys singing with colored shirts. somehow there was this real happy accident. somehow or other we stumbled on the fox family channel at the time was there. the united states. our start in and it just went, really -- david: anybody associated with fox will have success. lee, the fact is the number one earner, entertainment earner in australia is hugh jackman. that is understandable. number two are you guys? >> you can't go anywhere with these guys without being recognized. i think the real key for them to build it through the decade like they have. they have continued to reinvent
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themselves. they have got some great new young members that are continuing to connect with the new generation. this is something that can go on for foreseeable future. it is enterprise an empire. liz: back in the day it was you and jeff. now you have a lovely young lady who is here. >> emma. and first female -- liz: red ahead no less, thank you very much. taking world by storm. little girls and boys come along. how kids evolved. and how do remain relevant. >> children are the same as they always have been. these days they have got those little screens an parents sometimes take option of giving them the screen. parents have to be really concerned about how much time children are spending in the iphone, ipads and all that sort of stuff. get them out, out with a dance. go outside and kick the football around. that is what we have to think about, thinking kids moving. david: got to ask, i'm not a
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cynic -- >> no, no. david: a movie play called a thousand clowns many years ago, guy used to do kid shows and he stopped and asked by his brother, why did you stop? because i went into a bar the other day to order a martini. the guy said would you like a martini, gee, gosh, golly, that would be keen. does it ever worry you get too much of the kids stuff, it becomes, never really an adult. >> no. we, no. i know what ou mean. i love it. such a positive world. we are at odds but we try to communicate. liz: making adult money. david: there is the key. >> we speak to children in a way they understand but when we're out you know, we do, we do everything that adults do. >> for me it was a great opportunity to kind of break out of the corporate world and reconnect with a gift. david: is he part of the crew? >> honorary north american wiggle. he has a orange skivvy we call
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it. >> what is cool about it, you do want to connect with children in that way because they are optimistic and when you get into the corporate world like we are, you know, we could be cynics. we're all cynical journalists. >> tv series with lee in it. and children come over and they want to know if the call him the hawk. the hawk at the wiggle house? please, like he has become huge in australia. liz: you're big in sydney. >> permanent grin for probably about a week. liz: anthony, you guys have done wonders, and my children learned names of every fruit. >> with australian accent, banana. liz: banana, banana. lee i can't wait to hear latest tunes. bigger than rolling stones. given more concerts. >> they're humble bit. david: they have to move on. they have to move on. >> lee hawkins and anthony field, great to have you. david: more success nd.
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>> good-bye, folks. david: bye wiggles. number one oil producing nation. should the .s. lift its long running stand on oil exports. largest refinery in indiana, to find out what oil industry executives say. liz: they countdown to the nfl season opener tonight, we talk to the one fantasy sports company ceo who hopes could to be winner in this3 hotly-contested business and hopes to stand out in the crowd. you, my friend a a ster of diversificion. who would have thought three cheese lasna would go with chocolate and ceviche? the same guy who thought that small caps and bond funds would go with a merging markets. it's a masterpiece. thanks. clearly you are type. you made it phil. welcome home. now what's our strategy with the fondue? diversifying your portfolio? e*trade gives you the tools and resources to get it right.
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liz: david is going to killlme, if i keep pushing this brown thing. david: what is it with the browns? you love them. liz: i'm a cleveland fan. long-awaited nfl season, no matter what your team kicking off tonight and fans everywhere have been putting their fantasy teams together. fantasy sports, it is a huge business, continuing to grow very rapidly with 41 million people in the u.s. and canada participating in a fantasy league. one company, benefiting from the success of this industry, draft kings. it just announced a $41 million investment round, cofounder and ceo jason robbins joining us now. you have 41 million. what will you do with the money? you guys are growing exponentially? >> it is tough to follow the wiggles after seeing that. maybe i will go see a bunch of wiggles concerts. no but i think for us --
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liz: can't compete with the wiggles but go ahead. >> few are, few are. for us it is continuing to focus the building out product and technology and also continuing to bring new customers into the market where, we're doing a lot of marketing this football season. we'll bring a lot of new players in and just a very exciting time right now. liz: talk about tonight for example. what kind of inflows of attraction when it comes to playerssare you seeing right now today? >> well this is, this is one much our best times of year. we're seeing thousands of new paying players coming in every day. registrants are in the 50 to 100,000 range over the last week. we expect that to continue throughout football season. so, i really believe that this is the year that fanly football weekly hits the mainstream. it is something really most of the 41 million fantasy players have not been aware of up until now. with all the marketing that draft kings is doing, it will introduce a lot of new players to the game.
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liz: you guys are extremely popular but in just the last hour because we've been going gangbusters on this story we had your competitors fan dual. now that ceo wanted to talk a little smack but guys but i asked him why pick you over them, them over you. here is we had to say. then we can talk about. >> we're twiie as big. that is really important to players because they want to play the biggest games, biggest tournaments, the most opponents, most variety. additionally they want to really select mobile experience and also thirdly, what they really look for is amazing live events and that is something we put on. liz: guess what, jason? they don't have exclusive deal with mlb, major league baseball. you get to say why you think you should be the choice? >> well first of all his statements are incorrect. fan dual and draft kings are ffr closer to the same size and i know they like to claim they're larger. historically they have been larger but we've been growing at much faster pace and our market share has been increasing and they have been losing market
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share by the fistful for the last year or so. secondly our technology process far better. i'm glad he brought up mobile experience. that is field where we feel we're very dominant. we had a app out most over a year now. we made a lot of enhancements. we feel that is place we have huge leg up. lastly we understand what the players want. we try to deliver experience unique and differentiated on the technology being able to know on the first week the site will perform, the gapes will be going at the right speed so as you're trying to make your lineup changes, they're able to be made. and you know some of our competition has had some challenges with that in the past. liz: watching draft kings and in this battle i find absolutely fascinating. it is great that you made a business. tonight, how closely will you be watching and what are the prizes that you're offering? >> tonight is a big one. for the entire opening weekend we're offering 5 million guaranteed in prizes. tonight will be a good portion. a lot more coming on sunday this
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is just, it is a remarkable to think that in one football weekend, $5 million will be won in prizes. just a couple of years ago our biggest prices were we were talking about doing $100,000. now we're talking five million only two years later. who knows where this can go. liz: jason, thank you very much. go browns, sorry. david: boo. liz: don't laugh at me. he is laughing, david. jason robbins, draft kings, ceo. good luck to you. >> i love the browns. liz: good. >> all right. liz: thank you very much. david over to you. david: the hat looks good at least. thank you, liz. now that the u.s. is the world's largest oil producer in the whole world. will congress finally vote to end a ban on exporting american oil? jeff flock joining us with more from an oil refinery in the midwest. that is next. one police department will be welcoming a new member to its squad, a robot, just like in the movies. so is life really imitating art here? more on this when we go "off the desk."
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right there live in indiana at bp's largest oil refinery. jeff? >> ah, do you feel the wind of change outside the bp refinery here? could it be winds of change that are indicating a change in oil policy? you know this dates back, this ban on exports dates back to my teens when you know, we stood on gas lines or sat on gas line thanks to the opec oil embargo, wanted to keep u.s. oil at home. take a look at the situation now compared to then. put up the numbers on the u.s. oil production versus saudi arabia. who would have ever guessed that we would be far outpacing saudi arabia and be number one oil production country in the world. and it is overwhelming. refineries like this one, as you point out, liz, this is the biggest bp refinery in the country. it just got a $4 billion expansion. the largest private investment ever in indiana, despite that, they can't keep up with all the oil that is being produced. it is leaving people like the
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ceo of shell, who both extracts oil and those guys would like the export ban lifted as well as refined oil. refiners like cheap oil prices. so, both of them are kind of coming down saying hey, listens, we need to do something here. quote, a systemic grad all opening of the export ban would% be sensible thing to do -- grattal. said that this week. counsel on foreign relations said as supports build, producers are forced to leave oil in the ground and pumping it at depressed prices. only thing has to happen is congress to get behind this. some people are concerned if you lift the export band -- ban, prices could go up. look at latest gas prices. i don't know that we can call them low gas prices but they're as low as they have been probably in a while. nobody wants to be on the wrong side of that issue. david: if you want to undercut russia we could supply europe with all the oil it needs.
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jeff, thank you very much. >> thanks, david. liz: "robocop" movie paint ad picture what future law enforcement could look like but robots are joining police departments straight ahead. david: very odd. offeringga trip of a lifetime on a virgin galactic rocket. we'll tell you how you can win the trip next.
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thank you for being my hero and my dad. military families are unuely thankful for many things, the legacy of usaa auto insurance could be one of them. if you're current or former military member or their family, and see why 92% of our members plan to stay for life. liz: let's go off the desk. land rover revealed newest edition of its family luxury suvs the sport. it did not stop there. it debuted video that revealed first competition to send a group of friend into space. the winner will travel with three friend on virgin galactic flight. the competition is expected to attract entries from more than 40 countries, also "off the desk," charleston, west virginiaa police department will
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have serial number, not badge number. the police force will add a robot. charleston city council unanimously approving a purchase of a robot from super droid robots and companies. it will not possessable to fire weapons. thank goodness for that. liz: doesn't possess ability to get in the truck. wills list report is next. you will report on the controversy around michelle obama's lunch menu. liz: what is wrong with grilled chiefs and toe pate toe soup for lunch. it doesn't fit the first lady's program. we'll have latest on the possible massive data breach. victory for consumers as perdue makes changes to chicken production. how young is too young? growing trend of grade schoolkids getting cell
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