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tv   After the Bell  FOX Business  September 25, 2014 4:00pm-5:01pm EDT

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the 10-year is at 2.51%. [closing bell ringing] cheryl: there we go. really important here to talk about these markets and the fact that you did have, we're off the session lows for dow, nasdaq and s&p. a lot was big technology pullback, david. certainly apple is a big story here. so many questions now about the company. and also, we got the durable goods number today. that wasn't a very good number. down 18%. nobody wants an airplane, david. david: we should mention this is on basis of heavy volume. people thought because of a jewish holiday you would have light volume. not so. very heavy volume. conviction in the downward trend. cheryl: you see the numbers on your screen. the low was 16,947. we're three points away from that, now. we're pretty much closing, everyone at session lows. one day does not make a market. nasdaq real big loser, almost 2%. s&p down as well.
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small cap names you always tell me to talk about, talking about them right now. "after the bell" starts right now. cheryl: let's get to this market action right now. we have david richmond of richmond brothers who says today's market selloff, buying opportunity. we're going a little positive. joe hider will tell us why we're buying manufacturing sector. nicole petallides from the nyse. chris gersch from the cme. your thoughts on the selloff weave seen in equities. >> the selloff is compelling by sheer amount of volume behind me all the way to the close. we came off four 1/2 handles in the s&p futures. there is big follow through here. as far as s&p futures close here in actually minutes, i think if you see more follow through to the downside. this is definitely not a buying opportunity. david: david richmond this, seems to be more than just
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profit-taking, does it not? >> well, i think there is a lot of reason for fear and there is a lot of reason people are upset. geopolitical issues. the selloff may be finally a potential correction. we're still up 7% on the market year-to-date. we believe less fundamentals, gdp is lot slower, interest rates rise faster than normal or corporate profits are bad, october is not normally a good month. for those investors that are investors not traders. we think this okay time, not necessarily to buy today but look to buy in the near term. cheryl: david, you're saying look, take this opportunity, buy some names if you want them. joe, you're kind of in the same camp. there is concerns about gdp not getting rate we need. you're saying get the money in? >> absolutely. we're generally positive and bullish on the market. you know the data points bounce from week to week but, the trend is upward. unless there is some fundamental change which we don't see, we think it is a real opportunity.
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we think a real benefactor in that area is the manufacturing sector. which clearly is in the expansion mode, when you look at the index. david: by the way. this is the offer trading day since july. all of indices are at session lows. nicole petallides, when you got in this morning, what was the first sign it would be really bad day? >> it doesn't seem it would be a really bad day until after the 10:00 hour because while you did see down arrows, we've had some volatility, we were coming off yesterday, it was a good day in wall street. wasn't until you got closer to 11:00. david: was it? was there a news item? what was the stimulus or catalyst? >> there were news headlines about russia. there were news headlines about s&p minis and sell programs. all news started to trickle in. it basically saw selling upon selling. if you looked at technicals and nasdaq and russell over past
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couple weeks, people looking at technicals are not surprised to see the selloff of the they saw the market breaking down. they're not surprised to see the selloff. question, when does it turn around? when do people say you know what? there are low-hanging fruit. when will i buy them. bob doll was on with maria bartiromo, mid election year does very well. end of the quarter. some people are dumping out. cheryl: chris, there are technicals we should point to for last week that somewhat affect this is week. history shows us the week after the expirations you get a hit. this is what the textbooks told me in business school. what do they say to you? >> they're telling me right now, just, as you said, those textbooks, five out of 26 last entire week in october at very time, after that triple-witching you had down weeks. so do not buy in right now, even if you're starting a position. hold off a little bit.
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these futures are telling me on high volume the buyers are just not here. this is a fall through. a lot of s&p traders have been waiting for. as far as we're concerned the stronger dollar is a huge concern for us traders down here on the floor as we continue to see strength against the euro and the yen. us traders belief we could have a follow-through. we saw it dip below the 50 day moving average in s&p futures today. david: joe, are you at all concerned this is start of something a little biger? what it really indicates the economy and all the economists have been wrong about the economic thunder that will be coming out of this economist. it hasn't been thundering at all. it has been much more timid than a lot economists thought it would be that maybe something more serious is going on? >> no, i don't think so. i think when you have this kind of virtual unbroken rise in the markets, sense the correction of a few years ago, you really, you really have periods where things come in like they did today, whether it is on apple, russia,
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interest rate fears, that will trigger a selloff. and whether it is over and, or may continue a little while longer, we do not feel there is anything fundamental in the economy that is telling people, this is the time to get out and we're going into another bear market. cheryl: david, what if we get a rough gdp number? durable goods came out today, down 18% for the month of august. those are ugly number. that is one of the things nicole mentioned here. david, what do you say? >> mainly due to aircraft though. if you look at rest of the number, it was positive. so, we would actually say that we do believe the fundamentals are still holding together. we think that once corporate profits start reporting in another few weeks, we expect them to be very positive. and i meep last quarter it was 8 to 9% profit growth for the s&p. we don't see any difference for this quarter. we actually think the markets, to the end of the year will be higher than they are today. david: nicole, what about
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volume? a lot of people thought we would have light volume because of jewish holiday. not so, we were 14% above the average volume. so there was conviction in today's downturn. >> no doubt. it is true. holiday. expect light volume on day like today but not so. we had conviction behind the selling. what happened after those 90% down day those. sometimes you see buying. i will certainly not try to predict anything like that, however, it is sometimes, then it goes one way and then another way. it is end of the quarter. sometimes you do have people selling out or readjusting portfolios and the like. someone like ted weisberg, when i talked to him, mo one is buying. would you buy today? maybe those great companies that you loved so much. he goes, no, no. just don't touch it. cheryl: you know what? joe, you have got some interesting picks. i want to bring these up because these are companies you like, maybe this is something we consider in the morning.
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you like emerson electric, emr, ge, honeywell. there is a theme here but what is it in your opinion. >> it is industrials. we liked manufacturing as a sector, these are good, strong, companies. good dividend yields. if you're not a stock-picker and you're an investor, we think that these offer real opportunity for future growth to participate in what is going on in the economy. david: you've got names people know, joe. david you have a lot of names that very few people know. i want to pick one, exact sciences. that was way down today. are you going in and picking up more of that? tell us a little bit about the stock. >> we're not buying today but they had a colorectal test that was approved. first one of its kind. and so, we should get approval from cms for reimbursement within the next few months. david: but why aren't you buying today if you have conviction? market improving. you had a downdraft. do you think it is going down
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further? >> like question would say, don't fight the tape f the tape will be down for a few days that doesn't mean it is a bad investment for a few weeks or few months. as we get closer to earnings reporting that is when we look to purchase or pick up shares at reduced price. cheryl: tomorrow is a new day. david and joe. thank you very much. chris and nicole we'll see you then a little bit later. a lot going on in the markets. thanks, guys. david: thank you, folks. what do you do with $127 billion with assets under management when you see a selloff like we had today? do you reallocate or wait for some of the smoke to clear? we'll ask one of the smartest mind on the street, nicole just mentioned, bob doll of nuveen asset management. cheryl: he is always brilliant especially on days like today. it may not come with rosie the robot but the home of the future might be here thanks to kb home. we'll take you inside one of the new homes and of course hear from the ceo. david: and we'll hear from "the jetsons" as well. us air strikes targeting mobile
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oil refineries in syria controlled by terrorists. that apparently makes them almost $2 million a day. big question here about isis and their oil. who is buying it? who is buying the isis oil? some people are pointing fingers at various countries and individuals. we'll try to get to the bottom of that. cheryl: what do you think about all of this? particularly when it comes to the big selloff. was it a one day event? post your answers on facebook.com/after the bell. your answers coming up later in the program. ♪ [ male announcer ] once, there was a man who found a magic seashell. it told him what was happening on the trading floor in real time. ♪ the shell brought him great fame.
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get live squawks right in your trading platform whenwork with equity experts who work with regional experts that's when expertise happens. mfs. because there is no expertise without collaboration. hi, are we still on for tomorrow? tomorrow. quick look at the weather. nice day, beautiful tomorrow. tomorrow is full of promise. we can come back tomorrrow. and we promise to keep it that way. driven to preserve the environment, csx moves a ton of freight nearly 450 miles on one gallon of fuel. what a day.
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can't wait til tomorrow. david: not everything is down. gopro shares surging even higher, hitting all-time high. cheryl: nicole petallides on floor of new york stock exchange. nicole? >> on a day where you saw selling upon selling, red everywhere you could find, this is something that grabbed my attention early this morning and it is amazing to see it actually held on to the gains, gopro. wearable cameras. you wear them snowboarding, biking, supercool, right? are they a one-hit wonder? in fact the stock has been running hot. it is up 50% this month of september. this is $24 ipo over the summer. it has obviously continued to grow exponentially. once again today, despite a selloff, broad based selloff it hits another all-time high. what's the deal? there are some people who are saying in fact that they're going to come out with another
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type of camera, another product in the middle of october. are those rumormongers? is it for real? what is for real is the fact that this stock is hitting high after high and up about 50% this month. david: three times since their ipo. thanks, nicole. >> s&p futures are closing. let's head back to chris gersch in the pits of cme. chris? >> well, we're up a little bit from where we closed equities about those four handles that talked about coming off. we had a little bit of buying. that is encouragement for tomorrow. the day the vix jumps up 20% and we've got treasurys at almost six-week lows, you would, all of sudden assume we'll have a follow-through at the close. we didn't. so encouragement for the buyers into tomorrow. cheryl: there we go. there is the bell. chris, thank you so much. dow closing at session lows today unfortunately. david: before we get into tomorrow let's talk a little bit more about today. stocks tumbling and bonds rallies a as worries about
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global growth and geopolitical tensions rocking the dow. it plunged 262 points, its steepest drop in two months. cheryl: is this the question, is this a start after major market recollection or -- correction or stocks poised to bounce back? bob doll, nuveen equity strategist. just your thoughts and read what happened today with the markets. >> it was a very red day as we know. look, i think there was no one issue. it was a collection of things that finally ganged up on the market. economic issues, some question marks about growth here in the u.s. certainly weakness in many places outside of the u.s., europe, china, for example. on top of the a accumulating list of geopolitical issues. the market finally said, you know what? enough already. of course we've been following a period where the internals as you pointed out earlier have been weakening, advance-decline line et cetera, finally we succumbed. this is not the end of the bull
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market in my judgment. the economy underneath is still improving but we haven't had more volatility is more of a surprise to me than we're finally getting some. david: sound like more than profit-taking from what you're saying box much. -- bob. is this is more than a one day event, am i right? >> i don't think it is the end of the bull market. i don't think it is some double-digit percentage decline. we had a 7% earlier this year. we had two 4%ers. this feels more like seven. we're down half that. i suspect there is more sloppiness and to go. maybe we do back and fill and repairs technicians say before we go back up. this is seasonally weak period you pointed out, september, october. post-midterm elections are one of the strongest periods historically as well. cheryl: we're losing our crack cocaine. that is money printing from the fed. that will be ending. >> yes. cheryl: big worry now will be
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first half of 2015. do rates, i got people stopping me on the street asking me what is happening with interest rates. what do you think is going to happen? >> yeah. look. inevitably if the economy is able to stand up on its own two feet, which is my judgment and certainly the fed's more importantly, rates will begin to move up. remember our starting point is zero. you know, moving to 25 or 50 basis points is not punitive in any way, shape or form. stocks typically are very strong into the first rate increase. and continue to move higher but at a slower pace once the fed gets started. if not to later in the cycle when they get punitive that stocks begin to struggle. so i think you shouldn't sell stocks over the next year or two but should lower your expectations in the amount of appreciation. you will have to be more selective and keep your seatbelt and shoulder harness on. it inevitably will be bumpier. david: bob, we've had periods for lack of a better term, qe
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withdrawal before, when we have done it before. then we started again. we have another period of withdrawal where the market tanks. much richard fisher came out with a comment. nothing new. came out with the comment today, essentially saying he will not say what happens internally but, maybe sooner rather than later we will have rate hikes. is this the beginning of a longer period of withdrawal of this qe withdrawal we've seen before? >> absolutely. you know, we're not using my weekly commentary earlier this week, we're in a murkier period for the fed. until now it has been, how big of a friend is the fed going to be? now we're moving into the period where it is about the timing, beginning to move against us and all of the debate that goes with that. it is murky. therefore murky means more bumpy. doesn't have to mean down. just bumpier. cheryl: we'll get another read on gdp. that is question mark. bob, i ask your opinion simply because we got a durable goods
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number today was disappointing taking out aircraft. what do you think about gdp. >> ex-aircraft the number wasn't bad at all. if you put last month and this month together, it is more stable number and more respectable. i think we're broadly moving from 2% gdp world in the u.s. to a 3% one. that is a big difference when it comes to corporations ability to grow their revenues. my guess the third quarter gdp will be three, maybe a little better than that. i'm not a economist so i use the big round numbers. the point it is not two where we've been. it is better than that. the question is it good enough for earnings growth to remain high single digits. we need earnings growth for the stock market to do better, not relying a whole lot more on pe. i think we'll get earnings growth in high single digits. david: it has to be really good to average out with the first quarter which was down 2.1%. so it has a high road to climb. cheryl: certainly good point, david.
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david: bob doll, nuveen asset management and portfolio manager, equity strategist. bob, great to see you. >> thank you. cheryl: such a great voice on the markets. we've been talking about this throughout the day, u.s.-led airstrikes in syria trying to strike down the terrorists money machine, oil refineries. will the strategy work? we'll ask the vice president of a washington based consulting firm that tracks the middle east. david: new home sales soared to their highest level in more than six years. that's good news, but will the rebound last? we'll hear exclusively from the ceo of kb homes about latest trend in the housing market. cheryl: why there is no food in that refrigerator. coming up amazon ceo jeff bezos has a secretive research lab developing new gadgets. setting his sights on the home of the future. coming up next, "after the bell" after the break. ♪ we've never sold a house before.
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see car insurance in a whole new light. liberty mutual insurance. cheryl: kb home reported disappointing earnings with the company saying it sold fewer homes but the results coming on heels of a mixed picture in the housing market. david: it is a mixed picture. in effort to attract younger buyers kb home is concentrating on connected home. first interview in two years the ceo spoke with our own robert gray. robert, good to see you again. >> hi, david, likewise. we are certainly a stone's throw from silicon beach here. upwardly mobile buyers in that community. a lot of consumers are looking for connected homes. that is not just a gadget. that is big home selling point for new home sellers versus existing homes. those in 30, 40s, 50s, are not wired up from the ground up
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as these are. they're looking to sell energy efficiency. kb home puts energy performance guide in the new homes, to give consumers idea how much they will pay, or how much they could save through using some of these energy systems. in exclusive interview, chief executive jeff metzger told me earlier, he told me about high margins for the company, high-tech fetus four consumers. -- high-tech features for consumers. >> we have standard in our homes, a wiser system that is the brain, that will allow them to track their utilities, control their home, called a smart house or a smarter house today. and it is something that we think will continue to evolve over time. >> well, this is truly the hub for connected home. it controls the lights. it controls the locks remotely. can do it from the smartphone. you can also if you're on a flight, getting ready to go away, make sure the door is
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locked, air-conditioning is off. not run up bills. controls a remote video surveillance system, if you will. when the kids come home from school, they will say hello and send you a texted greeting. it has freezers that make ice in off-peak hours. they're also got these sort of, water efficient, sensor operated faucets and fixtures. also dish wash they're saves the last rinse cycle for the first rinse cycle next time. trying to make it ecologically and eco-friendly to save on your bills. speaking of water, a huge issue here in california. we're in midst of historic drought for three years. you have to water your lawns on alternate days. kb homes has unique solution for that as well. >> we're focused on water. it's a scarce commodity. it will only get scarcer. it is no different than saving on utility bills. we're advancing our efforts in rye see kelling systems we'll introduce up in sacramento a
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home that recycles water within the home to irrigate all the landscaping outside of the home. >> and they're using graywater so-called, comes from sinks and drains, dishwasher. not from the toilets. that is what everyone is thinking right away. recycling to irrigate lawns. not something you're drinking as well. things are still under construction. they say the homes are getting closer to moving in. if you're thinking about it, about a million 1/2 bucks for home we're standing in receipt now, david and cheryl. that is where we stand right now. certainly they are wired. we'll see if it's a seller. very time margin business once they have the infrastructure in place. cheryl: of course the kids are coming home saying, dad, why are you spying on me after school. leave me alone. you've got kids. thank you very much, robert gray. great stuff. >> thank you. david: thank you, robert. reuters is reporting that amazon is looking to expand its staff at a very secretive hardware unit by at least 2% over the
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next five years to -- 27% to test internet connected smart home gauge gents similar to what robert showed us -- gadgets. 65 million in the lab called, 126. probably ufos there. amazon is testing wi-fi devices placed in the kitchen or closet allowing customers to order products like detergent from amazon, nothing more. if you're out of something, amazon will know. this differ as little bit from smart home devices that talk to one another. but quite innovation. cheryl: i've had controls in my apartment, believe it or not. david: wow. cheryl: this is kind of fun. this is something i'm obsessed with headphone maker skullcandy. if you like to run you like these guys. bluetooth headphones in particular. we'll show you all the products and talk to the ceo coming up next. david: they have the ear buds that stick to your ears. cheryl: they don't move.
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david: kind of weird. the u.s. going after isis's money, targeting its oil refineries that bring in two million a day. so is buying the isis oil? and, will the attacks that we've seen be enough to shut down refineries? we go into that coming next. ♪ then we gave each person a ribbon to show how many years that amount might last. i was trying to, like, pull it a little further. [ woman ] got me to 70 years old. i'm going have to rethink this thing. it's hard to imagin how much we'll need for a retirement that could last 3years or mor so maybe we need to approach things dferently, if we want to be ready for a longer retirement. ♪ if we want to be ready for a longer retirement. no question about that. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready.
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stocks tumble as dow and s&p posted worst losses since the month of july. all 10 sectors closed in the red. technology and financials were the worst worst-performing sect. dollar index hit a four-year high as yield difference between u.s. and german bonds widened the most in nearly is a years. euro hit a low near the green back, lowest level in nearly two years. number of americans filing new claims for unemployment benefits rose more than expected last week suggesting acceleration for job growth in the month of september. it was seasonally adjusted 293,000, david. david: back to isis. the u.s. and arab allies launching new wave of airstrikes against isis, this time targeting their small scale oil refineries. the reports suggest the strikes were successful. isis generating two million in illicit oil sales per day. is this new strategy to cut off profits going to succeed?
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matthew reed, president of consulting firm, foreign reports. thanks for joining us. first of all, who is buying isis oil? >> as far as we can tell isis oil goes to they customers. number one being assad regime. two being local black markets. and then also isis uses some oil to fuel its own war effort. it refines the oil and turns it into useful fuel like diesel, that way it can run owl the equipment. david: talk about the first. irony of isis selling its oil at deep discount to its bitter enemy the assad government is bizarre. >> well it is bizarre on its face but the fact is that the assad regime has pulled its punches with isis from the beginning so it could discredit moderate opposition in syria. the fact that some close to the assad regime now would make a buck off of this black market
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makes perfect sense. that's what it boils down to for them is just money, but isn't assad concerned, isis, which after all to a large degree in syria will make further encroachments and eventually be a problem for the stability of assad's regime? >> he doesn't seem to be worried about it. if you, see some of these statements coming out of the government in damascus, they are thrilled that the pentagon is tarting to hammer the more extreme groups. so that way it frees them up to go after moderates and, what they see as real dangerous element in syria. david: all right. let's talk about turkey. there is also a strange sort of kibuki dance going. nothing is simple in the middle east, particularly in this area. i know turkey is a democratic country, et cetera, but it has been playing ftses in some way with isis. could they be on the take of isis oil? >> it is doubtful that any
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serious companies in turkey or the turkish government would have a hand in these kind of illicit sales like the syrian government would but you do have long-standing black market networks. those really act as the channel through which this oil passes. david: right. by the way, forgive me for interrupting matthew, this goes back to the oil-for-food program, those sanctions we had against saddam hussein which of course were very, were leaking like sives and eventually the cover was blown on it. saddam was taking all the money. does it go back to that time, these channels? >> these are really ancient black market channels. you know the commodities traded across these borders have changed for a decades. sometimes it is oil. otherwise it is different goods including actually the refineries that have been set up in eastern syria are said to have actually crossed the border through turkey. david: okay.
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finally, the strikes that we have, we've been striking them all week. presumably we're still doing that. any effect at all do you think? >> if you look at the numbers, for what these refineries can handle, you're talking maybe about, at most, 10 or 12,000 bears a day to be refined with these dozen refineries. right now isis is producing something like 50,000 barrels a day. and if you're growing to blow up refineries, it works as a good warning shot. you can scare away middlemen. but at end of the day they're still having success selling this oil to the assad regime. and also of course north and into kurdistan as well. david: unbelievable. >> even if it is unrefined. david: enemies, current enemies mean nothing compared to the old channels that go back thousands of years. matthew reed, thank you very much. very interesting. appreciate night thank you. cheryl: david, just in the last few moments president obama announcing that. >> jenna: is stepping down after six years -- attorney general
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eric holder. david: this is live. this is live. wouldn't you know washington already discussing what some consider to be holder's controversial legacy when it comes to wall street. rich edson has the story. rich, first of all, the president is not announcing a successor today, correct? >> that's right. david. we won't get that today. when it comes to wall street, holder is long criticized by some activists for failing to prosecute banking executives following the financial crisis. still attorney general eric holder's department of justice managed to extract billions of dollars in settlements from financial firms including 17 billion from bank of america. 13 billion from jpmorgan chase and 13 billion from citigroup. they say his office had historic civil rights and. republicans say he is has lack of respect for congress, american taxpayer around federal law.
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spokesman for speaker john boehner said quote, the eric holder's resignation is long overdue and the speaker hopes a new attorney general will serve the american people and constitution first rather than protect the interests of the obama administration. the president will nominate a replacement. speculation has already started. preet bharara, the southern district attorney for new york. or governor deval patrick. he told reporters this afternoon that the position is not the job for him right now. back to you. cheryl: rich edson keeping us up-to-date in washington. david: thank you, rich. who will beat the base the loudest in the battle of headphone brands? skullcandy is trying to amp it up with nba star derek rose. we have the products in the pipeline for the holiday season. cheryl: let the corn harvest begin. a plenty after goldilocks mix of perfect sun and rain. jeff flock will tell us how
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as you get older your immune system weakens and it loses its ability to keep the shingles virus in check. i just can't stand seeing him like this. he's in pain. one in three people will get shingles in their lifetime. the shingles rash can last up to 30 days. i wish that there was something i could do to help. some people with shingles will have long term nerve pain which can last for a few months to a few years. don't wait until someone you love develops shingles. talk to your doctor or pharmacist about your risk. watch this. sam always gives you the good news in person, bad news in email. good news -- fedex has flat rate shipping. it's called fedex one rate. and it's affordable. sounds great. [ cell phone typing ] [ typing continues ] [ whoosh ] [ cell phones buzz, chirp ] and we have to work the weekend. great. more good news -- it's friday!
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woo! [ male announcer ] ship a pak via fedex express saver® for as low as $7.50. cheryl: time for a quick speed read of some of the day's other headlines, five stories one minute. first up chrysler is recalling nearly 350,000, 2008 model vehicles threw to ignition switch problems. auto giant says the may cut power to windshield, defrom ther
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and wipers. >> into apple customers with bent iphones will be able to return the store for replacement and the device must pass visual inspection if the phone is been tampered with. ford will asked 3,000 workers in the u.s. by 2015. it hired 14,000 employees since 2011. tesla hits a roadblock in iowa. the iowa department of transportation says tesla test drives were illegal, since tesla is not licensed as an auto dealer. state law prohibits carmakers the faa is set to let hollywood drones take off. regulators announced that seven film companies will be able to use unmanned aircraft to film television and movie scenes. that is today's "speed read." [buzzer] david: this is something that you love. cheryl: i love this stuff. david: you love these headphones. the headphone market is booming. it expanded nearly 10% last year. with some players in the market,
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skull candy, the makers of this product is managing to stay ahead of its competitors seeing domestic sales jump 6% last quarter alone. cheryl: what can we expect from skullcandy this holiday season? what innovations keep them ahead of curve? we have the ceo. it is getting to be a crowded market and certainly beats is the big name. how do you compete with a behemoth like that. >> absolutely. we look at ourselves in a bit of a different market than beats. a bit of a different customer. a bit of a different price point. for us exactly as you said how do we bring innovation to the market and how do we do that we know for our consumer. i'm excited about that stuff for the holiday. david: the answer is? what diffentiates you from beats? >> absolutely. for us we always take where we were born on the mountain through innovation. where we came from, and where we design all our products and in park city, utah, with the best athletes in the world and best snowboarders. david: why cheryl likes it.
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it is focused less necessarily on hip stuff but more on athletic stuff, right? >> it is athletic and take music and power of music and really make that fun. when you're born with such authenticity, born on a mountain with great athletes, born out of action sports, music, art, film, that culture. >> i want to show our viewers what we're talking about. i've owned these in the past, crusher headphones. those are one much your more popular items. the air raid speaker which is right here. >> absolutely. cheryl: the sports performance ear buds what i use. this is wireless bluetooth speaker which i think is fabulous. because people want to have great, great puce i can but travel with their music as well. >> you can tell the weight on that one. we want to make something that is mill speck, louder than anything on the market. did it with that one. >> you can run a truck over this one. >> run over with a truck. throw it across the room and you're ready to go. david: sound quality, i happen
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to like bose. i've been using bose a couple of decades how does this compare soundwise to bose. >> absolutely. we want to make it louder, we want to make it as durable it can be. on sound piece we want to make sure it has great sound on it. right now -- david: by the way you pointed to a guy, one of your peeps here in the studio who is from bose. came over in 2009. so you have the inside, inside business of bose going. >> he did. we have a great engineering team. we have 40 professionals in park city and also an office in shenzhen. it is about innovation and how we drive it in a way that is different. cheryl: international market where you're looking to expand. that is where you see the growth like china and india. >> it's a big piece. if you look at global brands they're 50% of revenue is international. for us it is about 2. we have a lot of growth there. david: in a place where they're just beginning, granted they have a huge middle class already, but can they afford stuff that costs this much money
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over in china? >> that is one of the big advantages we had. you talked about some of our competitors who have a higher price point and bring that equal, that is great advantage for us. cheryl: somebody that runs and tried all of these, not just yours but bose as well, bose tends to be very expensive. that cuts out the younger generation that wants to have great music and wants to be running around but can't afford the bose. >> that is something i love about our brand. how do we deliver great sound, great innovation. have it be fun and accessible. that is important to our brand. david: what is up with the skull? why a skull? >> the skull has a long story on, as a great brand statement. cheryl: it is cool. >> imagine being born on the mountain through music and culture the skull fits in with that. cheryl: i feel like you're a snowboarder and ceo. i'm taking a guess. >> i've done a little snowboarding. >> thank you very much for coming in. >> we appreciate it. david: best of luck. thank you. cheryl: so it is harvest time and farmers are expecting a
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record haul of corn and soybeans but that may not be good news for some big agricultural companies. jeff flock is on the farm to tell us what you the investor need to know. david: it is not all about derek jeter today. there is another major league baseball player making headlines on a rainy baseball field and costing him big-time. we'll tell you who coming up. >> hi, everyone, i'm ashley webster in tonight for gerri willis. coming up at top of the hour, is it possible to get credit card companies to lower the interest rate or perhaps drop some fees. yes it is. there is a right way to do it. biel show you how. this is one of the big stories come up on the willries report. s that's when expertise happens. mfs. because there is no expertise without collaboration.
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cheryl: the harvest is here. this weeks mark the beginning of what is expected to be an all-time record haul of corn and soybeans for u.s. farmers. future prices couldn't be worse actually. david: good for consumers. jeff flock live from the grain belt in illinois with the very latest. jeff. >> oh, boy, great to be out here. wish you guys could experience this you can't get much closer to the harvest than this. walking alongside a combine that is running through the fields here in mazon. it could be a amazing harvest. we're betting reports from
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farmers on twitter saying how many bushels of acre they have gotten. i will ask paul in a minute. first from central illinois we're getting reports of 290 plus bushels. 250. 240. this would all be above the record all-time bushels per acre harvest record. i want to talk to paul, paul, can you come out of there? he has technology inside of this truck which essentially enables him to know immediately what you're getting. what is your ticker say? >> well, it is shut off now. showing average for field so far at 217. >> we're a little lower than some of your brethren so far? >> well, yeah there is a difference in fields. difference in varieties. >> governor that cha. i want to pull up decent corn. paul come out here. looking at prices, couldn't be worse. if you sold all the corn at
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price, they lost another four cents at cme, if you would have to sell at this price you would lose between 100 and $200 an acre, is that right. >> that is why you put in storage, made advance sales. not do everything to sell at harvest with bummer crop. we're seeing worst possible case where record crop will drive prices down. >> speaking of case. this is a cih machine. look at deere stock over last three months, they see this coming. stock has been depressed. you will not be buying new equipment, are you? >> no. unfortunately those guys, iron is one of the first things we give up. we've had real good years and their stock reflected that. we bought a lot of equipment last two or three years, the ag country has. yeah, that is, we're updated. so we'll have to hold off on that. >> paul, appreciate it. enjoyed his hospitality today, let us piggyback on the harvest. watch those equipment-maker stocks. may not be a lot of money out there. david: that's what silos are for, to hold the grain until the
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prices go up. cheryl: jeff flock, thank you very much. >> you said it. david: thank you, jeff. do you love cheese? we have perfect high-end accessory for you if you do, but doesn't come cheap. we'll give you details ahead. cheryl: hello, fondue. minnesota twins pitcher phil hughes missed out on a huge payday because it rained. we'll tell you all about it when we go "off the desk." ♪ "hello. you can go ahead and put your bag right here."
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"have a nice flight." ♪ music plays ♪ music plays traveling can feel like one big mystery. you're never quite sure what is coming your way. but when you've got an entire company who knows that the fewest cancellations and the most on-time flights are nothing if we can't get your things there, too. it's no wonder more people choose delta than any other airline.
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>> it is time to go off the desk perform minnesota picture phil made half a million dollars last night, but then it rained. his contract stipulated he would get $500,000ase bonus if he pitched 210 innings. -- against another team, but a
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rain delay to the game cut off his chance of finish the pitching that 210th inning and that cost him half a million dollars. >> it's a bummer. he told reporters some things aren't meant to be. that was a positive way to respond. the fashion industry. a new louie view ton may take the cake. designed by the designer, this coat is filled with holes. the bag does have a unique look. the 3,000-dollar tote is part of the larger collection of icons. >> glad my wife doesn't want one. the number two thing to watch will be the final approximately reading. to be revised higher to four penitentiary six of 4.2 percent. >> the number one thing to watch is market. text ector worse performer
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seeing its biggest drop in five months. >> look at that 1.9 power percent. we've got a busy next hour coming up. "the willis report" with ashley is next. >> hi everybody i'm ashley webster. is it possible to get credit card companies to lower your interest rates and drop your fees? yes, it is. it's one of the big stories following on the show coming up. meanwhile eric holder he's quitting. yes, he is. he's quitting. these adorable puppy ads, do they work? where consumers are our business it all starts right now. >> stocks taking the pluj today. the dow s&p falling

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