tv After the Bell FOX Business October 17, 2014 4:00pm-5:01pm EDT
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today as well as for the whole week. >> right. [closing bell ringing] building permits were a little less than expected. made it through the week, guys. we made it through. liz: we did, with a bit of flop sweat during this week. david: i love that expression. liz: one of the most volatile weeks we have seen in at least five years. let's look how stocks are finishing up the session. really the dow jones industrials was a shining light today. you can see end up 259 points, not the highs of the session. nasdaq today briefly came out of negative territory and pun of into positive for the year. today looks to be one of the best days of 2014 for stocks. russell 2000 better performer over the week but down three. let's get going. "after the bell" starts right now. david: what a week we're having! this has been one hell of a
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week, no other way to describe it. we did end up on a good note with the exception of russell 2000. they a good week when all other indexes were down. gee right to today and this week's market action with john trainer, pro people's bank united. why it is important to watch europe. we'll find out why. hank smith of haverford. he will tell us why he remained bullish throughout this week's selloff. brian battle, mark sebastian, two guys covering the pits of the c-m. brian i want to go to you, is the selloff over? >> no. i want to say too the selloff might not be over and rally might not be over. -@you can't have a week like ths without an indication the market is a little bit sick with it moving around like this. oh, wow, you can't say, we got a rally today, everything is fine. this volatility is here to stay. this is not a fundamental trade like everything is better, everything is worse. the factors that made tte market
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move are still in place. what is wrong with europe what is wrong with the u.s. and will the fed keep going on quantitative easing. unless those things change it will keep the market churning. we need more time for positions to get in place for the market liz: can you argue, that actually a correction like this, or some calling it a mini "flash crash" at least on wednesday when we were having draw-dropping moments is slightly normal and somewhat welcome by long-term market watchers and participants? >> yeah, i think it is. go ahead. liz: hank? >> absolutely, i think the, the recent volatility we've had is reflective of the norms. what we've experienced in the prior year-and-a-half is rather unusual, the lack of volatility. we just haven't seen it for so long, it's a little bit of shock therapy. >> johnn to brian's point there is still, we still have some
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issues that are hanging in the air concerning investors let's talk about germany, one of the biggest. if germany goes, so goes the rest of europe. that is the mainstay at this moment keeping germany afloat. will germany stay afloat? >> we think germany will but i know the focus has been on draghi and the ecb. certainly we want to see some good announcements and some good news there but we really think, angela merkel, the germans are the key and the germans are playing hard ball in europe. they want to see the other countries make structural reforms. we would love to seeethat also. so we actually think the announcement out of merkel will be more important than the announcement from draghi. liz: let me go back to the floor of the cme, and to mark sebastian, some people would argue it was very much the european participants. whether angela merkel or the ecb chief, mario draghi. also we got stimulus from china. they will be adding to their banks to make sure that is certainly stablized.
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and then, let's not forget james bullard who opened his mouth and started a hint if neeessary we might see that kind of move to help prop up the markets. does all of the power lie in central bankers hand? >> well, you know, maybe a little too much. i do think that that is a major trend. i think we've got more volatility coming. i agree with brian but what is going to be the game changeer? we talked about this last week. i think the fed, the idea of the fed raising rates in 2015 is slowly becoming quite ludicrous. it is just not going to happen of the bond market is saying know. gold is stablizing. oil selling off against a rallying dollar. that will be a catalyst for equity markets to rally out of this once they figure out where the footing is. we saw huge program buying right at 10% down from the markets high to low. it was like somebody push ad button and we went straight back up this has been kind of a reaction to that. i think we'll fail here about
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1890. possibly test the 10% down lower again. the fed, somebody in the fed that has voting power will probably actually come out and say it and that will be the catalyst that gives s, what i think could be a last ouple of months and, another test of 2000 on the s&p 500. david: brian, we haven't talked about ebola yet. that may not be the uuderlying problem with this market right now. thhre is still a lot of panic selling however, with regard to ebola whenever there is an incident even if it turns out to be negative, it still has an effect on the market itself. will that continue into next week? >> yes and no. the surprise, the surprise variable is out. there is an ebola case, is there an ebola case there? will it be that big of a deal? will it hit transports and figure out if it is airborne and going through airlines right now. that doesn't seem to be true. to answer the question, not as big of a deal. we know it is here. starting to spread.
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not that big after sure prize. jim bullard doesn't even vote on fed. they haveetheir fingers on the scale as they leave the market this is experimental monetary policy. massive liquidity and rally. the, so we'll get this as we figure out if they can leave and what pace they will leave. if they're leaving too fast, that what caused this week a lot of it, uncertainty over all the other things. if the fed is leaving, get out and cash in our chips. liz: some would argue, i will bring hank into the conversation too, crude oil falling below $80 a barrel was in the market psychology of many participants. you're picking a lot of energy related nnmes. we'll put them on the screen. where do you see the move back upward after oil as fallen so much taking potential profits out of moves for these stocks? >> first of all, anytime you get a great, high quality companies at bargain based prices like you
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are with exxonmobil, chevroo, schlumberger, you should take advantage of it and not worry about the near term and know you will make money intermediate and long term out. exacerbated by a number of technical factors. does it deserve to be at 105? probably not.% but it doesn't deserve to be under 80 either. i think you can make money in major integrateds particularly at today's prices. david: john, iiwant to continue on oil. john also has schlumberger. they could both be wrong, folks. don't necessarily think you should buy in and you will make a fortune. however interesting, both you guys think schlumberger is a buy. but the other actor, john, about oil going down, ittputs more money in people's pocket at a critical time of the year just as we're coming into holiday sales. this is when retailers make the lion's share of their money for if in fact people take oney they saved at the gas up7 --
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sales that could help retailiday stocks weigh into 2013 right? >> first off we agree with hank. we like schlumberger, we think high quality name at an% attractive price. i saw an estimate this morning, declining energy prices, not -@just the gas pump, home heatig fuel, it filttrs to a large part of the economy, could add next year $12,000 to the average household budget. liz: wow. >> that is money isn't there today. could be there next year. liz: consumer sentiment reflecteddthat today. we got the best number in seven years for consumer sentiment. the psychology being people have more money in their pockets because gasoline certainly has gone down in price. brian, there were only three sectors that closed today, up for the week, industrials, materials, utilities. we know one thing for sure, that utilities pay a dividend. did you see any flows going into the dividend sort of pay me now stocks while i wait for the market to settle down?
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>> yeah. that's a tough trade because a dividend stock looks great at 3% when everything else is at two but if interest rates rise, and there is anticipation they will some time, dividend isn't worth as much. be careful about dividend payers. peoppe will be seeking yield. people will look through the weakage. a lot of people looking at high yield which seems dangerous because i don't know that the economy is much better. feels like it, but we ran a long way and credit spreads are narrow. one thing we know for sure, you can not call interest rates. forget it, can't be do done. everybody was sure rates would rise january 1st when it was 3%. david: everybody has been wrong on interest rates past couple years. it has been extraordinary. liz: thank you so much. david: have a good weekend, guys. of you. david: brian coming back for close of s&p. liz: absolutely. thanks, gentlemen. some investors already predicting more stimulus from the fed. -@are they getting ahead of themselves? one strategist says, no way.
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david: also, investors flocking to safety as he nation anics over ebola, bbt, is that really the best place to run? jack hough is here from "barron's" sayiig now is time to takk on the risk that a lot of panicky investors are running away from. liz: with mortgage rates at the lowest level since 2013, is it time to jump in? should youube a buyer or a renter? so the answer may depeen on exactly where you live. we're picking apart cities by rents. stay tuned. you have got to see that. ♪ so ally bank really has no hien fs on savings accounts?
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liz: netflix shares did not get to recover today. falling for a second day in a row of a lackluster earnings and competitors, getting into the streaming game. david: i think they're down over 20% this week. let's head back to nicole petallides on the floor of nyse with details. >> hbo is one of those. let's take a look here at netflix. a lot of people have been very hot on netflix with high opes. the stock was down 1.2%. today you saw it fluctuate throughout this week. they came in with fewer subscribers in the latest quarter, the outlook was weaker-than-expected. so number of subscribers pouring into netflix is not impressive enough. they also raised prices. that may be part of it. mark cuban, right, of the dallas mavericks and of course a big investor in some ways he is picking it up now. he liked netflix. way back when was not such a
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believer but has become one. we got a little pop on his comments still to the downside. this was nearly $500 stock in early september. today closing 357.09. liz and dave. liz: nicole, thank you so much. david: s&p futures are closing right but now. let's head back to brian battle in the pits of cme. what is it shaping up for into the weekend and monday? >> pretty good. everyone will get out of here with their hair, whiih you western too sure of on tuesday or wednesday. it is feeling better. but all the risks still exist at beginning of the week cause ad selloof. they're priced differently. everything is little bit cheaper. is it cheap enough for us to rally back again? i'm not sure. that the continue wages, we didn't have continue wages of selloff today. a little bit better andd3 normalized. david: that is the question. is there enough of a discount to buy in. some people think so. liz: thank you so much. >> brian battle.
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>> we appreciate it. @avid: n a fox business exclusive, dallas fed president% week, quote, it is way too premature to talk aaout another qe because the markets are actually doing the work. liz: but our next guest is not buying it saying qe4 is certainly a certainty at this point. with us now, peter schiff, euro euro paistic civic capital ceo and chief global strategist. you're saying that fisher is perhaps speaking too soon. why, peter? >> remember, at the very beginning i said we would have more qes than rocky movies. they had five rocky movies. so we got more to come. in fact when the fed first announced tappr, i said at that time if they tapered they would have to reverse the process. you can't take away qe without creating a bear market in stocks and real estate and putting the u.s. economy back into recession. qe4 is coming. it will be bigggr than qe3 and do more damage to the u.s. economy. liz: you're saying a bear market
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is also coming right now? >> well, not if the fed does qe4. liz: okay. >> if the ffd doesn't, then we'll have a bear market. only reason we had bull market was becaase much qe. you can't take away the drugs and expect the market to stay high. david: peter, i know they do positions but it is not the job of the fed to support the stock market. it is the job of the fed to deal with unemployment and to deal with the value of the dollar and you're already beginning to smile because you know they have violateddtheir mandates before, right? >> well, first of all, first of all the fed can't do anything about employment. that is phony mandate. the fed can't create jobs by creating inflation. maybe they think they can but they can't. but the fed has targeted the stock market. david: hold on a second. hold on a second. wait a minute, peter. because there was a time when, for example, paul volcker, when he was head of the fed, he didn't give a damn what happened with the stock market. he said i'm going to have a
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strong dollar. that is my mandate. result of what he did.d as a so other fed president, other fed chairmans have stood up to the stock market. >> yyah. but this is janet yellen. she is not paul volcker. and when, when ben bernanke announced qe3, he said, the specific goal of quantitative easing was to raise asset to raise real estate prices to create wealth effect would hope to trickle down to the overall economist. it didn't trickle down. stayed in hands of a few people that benefited from qe. this is the only game the fed knows. it will keep playing it unttl we have a crisis worries than we had in 20088 >> the way you play it out, peter, you say unless they keep adding quantitative easing, then we will have a bear market in stocks. they are too fearful of that. >> yee. liz: even though role of central bankers in essence to calibrate interest rates to promote growth but -- >> but it doesn't promote growth. we will when there is currency
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crisis, but, liz, it doesn't promote growth. it undermines legitimate economic growth. it blows bubbles. that's what we're doing. yes, if the fed stops qe, we'll have a recession. we need that recession. the last recession didn't flow naturally because the fed cut it short with the qe. and zero percent interest rates. all that did is exacerbate the problems and delay a day of reckoning. we're staring at much bigger crisis, because if the fed actually did the right thing and normalized interest rates, shrunk its balance sheet and stop qe, all the things that janet yellen says she wants to do, if the fed did that we would have much worse financial crisis in 2008. unfortunately we need to deal with. david: peteer? >> yes. david: richard fisher i spoke with this week, said there will not be another qe, i know it might be pie-in-the-sky from his perspective, he and other fed people saying that economy are showing signs of improvement. whether you like it or not,
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peter, there are certain indices, won't if they do another qe they will have to make the case that the economy is really desperate to justify thattqe and so far they haven't made that case? >> well, they're going to come up with an excuse. ddvid: what is that excuse going to be though, peteer? peter, hold on, what is that excuse going to be? >> maybe inflation is too low. no hose what it will be. maybe it will be ebola. i don't know what they will blame it on. they will come up with the excuse because they can't end qe. they can't raise interest rates. admit.e thing they can't do is they have to talk up the economy, pretending thing are good. they're either incompetent or lying. @hey're bad things are and don't want to say it or foolish enough to believe it. some people actually believe that qe worked and you have confirmation bias. if you think it worked you expect to it work. if you think about economic data coming out past couple months the vast majority has been bad or below expectations.
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as the air is coming out of the bubble and fed will blow it back in because that's all it does. liz: peter we thank you, we have to go. toronto. we got some consumer sentiment numbers, david. david: some good good numb housing numbers. we appreciite peter's position as always. some people say it is a mistake with ebola scares weighing on the markets it is time to take on the risks, the samm risk the market is running away from. liz: plus a carnival cruise ship carrying a quarantined texas health care worker is now returning to the u.s., galveston, texas, after mexico failed to give clearanne to dock as did belize. we have laaest as federal government plans to contain the disease. david: those videos still look weird to mm. updated dress coast for
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david: time for a quick speed read of some of the day's other headlines, five stories in a minute. first up, delta is brrnging back its cheap air fares to compete with rivals. the bare bones e class ticket will not allow to you upgrade seats or same day flight changes and they will board last. amazon's grocery delivery service launches in new york city. amazon fresh. customers who place orders before 10:00 a.m. will receive deliveries later the same day. orders placed after that time will be delivered the following day. google surpassing goldman sachs in terms of u.s. political donations.
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google's political action committee, net pac, has spent 1.43 million on political campaigns this year. starbucks changing its dress code foo baristas and upping employee pay. the company is relaxing dress code policy on tattoos, piercings, accessories and jewelry. volkswagen is recalling nearly 500,000 beetle and jetta models in the u.s. to inspect rear suspension. 2013 model years. that is today's "speed read." [buzzer] liz: baristas have a creative way of customizing. david: a lot of at that times. -- at&ts. - ats. liz: jump in apartment building skyrocketing 18.5%. with growing demand for apartments is it better to buy or rent? where in the country is it the best place to plant roots? david: we have a trulia chief economist. jeff, thanks for coming in.
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first of all how do you figure figure out what is best for you to figure out rent versus buy? >> there is actually a lot of math behind it.% we start out doing apples to apples comparison looking same unit in the sameeneighborhood. don't compare the average place for sale with the average place for rent because homes for sale are typically much bigger. figure out the mortgage payment. we figure out the down payment, closing costs, insurance, taxes all these things, look over a seven-year period. come up with a total number of whether it will be cheaper over the whole period to rent or buy. liz: which now brings us to the discussion of location, location, location because you can not paint the entire country with the same brush. where did you find in the nation the top places to rent versus the top places to buy? >> well,,if you are going to stay in a home for seven years, itemize your deductions and get a 20%, standard 20% down payment
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mortgage at 4.3% it, looks cheaper to buy than to rent in all the 100 largest metros now. the reason for that? northmortgage rates are still near historic lows. it is closer call, gap only 20%, in places like honolulu, san jose, orange county and new york. the gap is the 60% cheaper to buy than rent in places like detroit and cleveland. liz: akron, gary, indiana, and kansas city as well. >> that's right. david: what we're saying basically, jeff, go to second or third tier, face it, detroit is bankrupt. if you go to places with serious economic trouble you can get bargain basement deals if you buy, whereas if you rent you will not get the same deals? >> that's right. what we really see the difference across hese different places, is, if you're not going to stay uite as long as seven years or get more expensive type of mortgage like an fha loan, underrthose conditions, for that kind of
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person, that is often first-time homebuyers, then it is actually cheaper to rent than to buy in a lot of those california cities but still a lot cheaper to buy than to rent in many parts of theemidwest and south. liz: let's get to where buying a home is a toss-up. how much cheaper is it to buy a home and to rent, and we've got this list here, that begins with honolulu, of course hawaii is very attractive place certainly but you also look t orange county, which in california had a big run-up during the housing market. new york, san francisco, l.a., lots of demand there, what are we seeing? >> well these are places, remember it is both expensive to buy and to rent in places like honolulu and new york and the san francisco bay area. but what we're comparing is, which is a better deal. again because mortgage rates are still so low by historical norms, it is still, you know, 20%, give or take cheaper to buy than to rent in those markets. >> great to have you, jed. from trulia.
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he has written a great report. that's why we wanted to get you on. david: thanks, jeff. have a good weekend. >> thank you very much. david: thh ebola crisis has markets on edge this week to say the least. one strategist, said, there is one headline on ebola you need to watch for for in coming days that could move your money and the health of our economy. that is coming up. liz: market volatility, yoo heard the v word quite a bit this week. this didn't scare this name from going public today. boy, did it pay off. @he stock jumping 15 and three quarters of a percent. what do they do? david: gas prices falling all over the country as oil declines. how low do the prices go? could we see a dollar handle coming up? we'll tell you straight ahead.
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david: so even if you believe% there's too much hype over it had on stocks this weekend.ct that is because, it doesn't take a widespread outbreak to have a widespread economic impact. so what will the market be on the lookout for this weekend that could move the markets next week on the ebola story? and are there some safety stocks to get into? or, should you buck the safety trend and go for a little risk while the panic sales are going on? for answers we turn to jack hough, "barron's" senior editor. talk aboot ebola, first, jack,
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beccuse you say it doesn't take a lot of ebola cases to create a change in spending habits. >> consensus the volatility is because of slowdown in global growth and ebola is sideshow. i'm not really convinced. i don't think there will be a widespread ebola outbreak in the u.s. but the point is it doesn't take one to affect people to say, maybe i'm less likely to make a trip to the mall on holiday time. maybe i put off the trip i'm likely to take. maybe i'm less likely to eat out at a restaurant. it is very controlled situation now. what happens if we see a few more cases pop up? david: in a couple of more cities by the way. if we seeesomething outside of dallas, that is when people might actually be questioning whether they should go to a restaurant or take a plane trip >> it doesn't have to be a big financial impact directly in order to have a big change in people's habits. so it does bear watching. i'm a little more cautious about that than maybe some ther people. david: on the other hand, while a lot of people are going for safety stocks, there was a lot of buying today, a lot of buying
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into safety, maybe you should buck that trend and maybe take on a little eetra risk on something, for example, like airrines that is not considered a safety stock right now? >> at the right move for you to put money to work in stocks right now, this might indeed be a gooddtime to do it, i don't know why ou want to buy campbell's soup. you're not getting any growth. paying 16 or 11 times earnings. i would look for business businesses with a fundamental transformation, a change in earnings profile for the better. airlines are one example. they had to get their house ina. >> 60% of the their costs are in fuel. that should give them enormous back wind. >> stocks give have been crushed on ebola news. this is group if ebola news is contained from here, they would perhaps like asian airlines traded back in 2003 after the containment of the czars outbreak. they soared after hitting lows then. david: when there is panic people make dumb decisions.
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smartest investors always say we take advantage of othhr ppople's panicking. this is way to do that. there are a couple of technology plays you might think be good right now? >> people are totally missing picture on pockets of the tech market particularly storage and memory. stocks like micron technology in memory, like western digital in storage. there is a very, visible, tremendous ramp growth of storage for and need for memory and servers. we see that coming down the road. these stocks have single-digit price to earnings multiples. in memory we had 20 players. now we have three. in hard disks we have 10 players a decade ago, now we have three. that consolidation keeping remaining players constrained on supply, profit margins are healthy. earnings of these companies are a lot more stable than they used to be in the past. david: i don't want to sandbag because we hadn't talked about this before the segment but russell 2000 stocks, they have
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been beaten down. that was in correction territory even before this week's selloff. ironically they came back this week during some of the selloff period. is small, are small and mid-sized stocks maybe a place it look at specifically? >> the problem with small caps, they had gotten so far out of whack in terms of pricing relative to large caps earlier in the year. so this downturn for them really brings them closer to in line where they should be. i don't think it is screaming bargains on small caps. unlike in large caps, small caps you have tremendous variety of quality of company. you can find bargains among small caps. david: jack hough, we have to run, over the weekend if there is some ebola thing will it spook the markets come monday morning? >> any incremental news of further infections from here again, i don't expect, our experts tell us it is well-contained, that we'll not have a widespread outbreak but could affect consumer behavior. david: jack hough, "barron's." liz? liz: there was a stock popping
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20% since the trade tag. zayo group had a terrific public debut, with business in eight countries, 45 u.s. states, where are they looking to expand? you use a computer, you need to hear about this company. we have the cofounder and ceo. plus president obama appointed that new ebola czar as demand for protective gear continues to be quite a concern. coming up we have everything you need to know on the response to ebola. stay tuned. [ hoof beats ] i wish...
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>> talk about a debut, bio network company, zayo traded up 15% on the first dade of trade. this network is so large it can circle the either three times over. joining us you no zayo group ceo and founder dan caruso. what were you thinking at midnight last night, why would we bring the company public, the most volatile week? but you took a shot and it worked out. >> quite a experience. you don't know what the market will be like when you get started in road show. when we got not into road show it was clear it would be a rough environment but we got through it. liz: you sure did. talk about what you do. demand for fiber and bandwidth has jumped because everybody wants to download youtube or netflix whatever they want to do on that but it wasn't ever thus
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when you first founded in company. >> we founded it in 2007, by that point it was clear to us but not clear to others owning these fiber networks would be very valuable. so the whole strategy was get our hand on these deep, robust fiber networks before other people figured out that they are once again very valuable to own. liz: i like to know how you knew that. there was a big slump when you started zayo and that stuff was discounted and cheap. people thought, why do you need this. now there is not enough of it. how did you know? >> before we did this we took private a company called icg. we took it private less than $9 million and turned that into close to 250 million. it was during that period over two years we figured out that industry was turning around and that owning the fiber networks was once again going to be a great business. there was hangover from the meltdown. so most institutional investors did not see that at that time. liz: pricing has become a very sensitive subject. there are business and there are individuals like me who is just trying to do a google document
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at night, i am fighting with the teenager who is downloading 15 episodes of whatever on youtube. should it be individual pricing method who uses more pays more? >> more people pay for bandwidth i'm better. liz: so you're for all that. >> i am for all that. liz: are we experiencing shortages of bandwidth? >> we're not experiencing shortages but experiencing healthy environment between those who supply bandwidth and those who need it. first if the past, too many folks who supplied bandwidth. it is good time. a good balance. liz: you're flush with cash after the ipo. what will you do with money that you raised? >> we generate cash in our day-to-day business. liz: a lot. >> a lot of cash. liz: great revenues ending june 30th, 1.1 billion in revenues. >> cash flow positive. we've been a very a questionstive company. we bought many companies over the year. it is in our nature.
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something we seek continue to do. liz: are you guys hiring? if so, what type of jobs? >> we're hiring entrepreneurial types with technology background that compliment our workforce. people who look and think differently than what is with the norm in our industry. liz: you looked and thought differently. founding member of level three communications. with a ceo entrepreneur like you, interviewing a candidate, do you care if they went to an ivy league school or even graduated college? what do you look for in a candidate? >> we look for people who are self-starters, entrepreneur, decisionmakers and who are great team players. people who want to do a lot with their career. people that care about professional developmenttand care about the people they work with. liz: you better be caring what happened today. timing really worked out for you. the stock jumping more than 15%, congratulationses. >> thank you. liz: dan caruso the ceo of zayo. we'll be watching this stock. david. david: good news they're hiring. meanwhile president obama naming a democratic political operative
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as his ebola czar. as demand for a travel ban increase. coming up we're going to bring you all the latest on ebola and the government response. rare photographs of the beatles have emerged. coming up when we go "off the desk." we'll tell you how you can invest in one of these pictures if you're sick of holding stocks. that is coming up. >> hi, everybody, i'm gerri willis. coming up on my show at the top. hour, special coverage of the ebola crisis. we'll have a panel of experts here to break it all down. plus how it is affecting the economy and what you need to know to keep yourself safe. all coming up on "the willis report" in just a few minutes. synchrony financial partners with over two hundred thousand businesses, from fashion retailers to healthcare providers, from jewelers to sporting good stores, to help their customers get what they want and need. banking. loyalty. analytics.
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call now to request your free decision guide. and learn more about the kinds of plans that will be here for you now -- and down the road. i have a lifetime of experience. so i know how important that is. liz: president obama appoints ron claim to manage klain, to manage response of the ebola virus, while scares in a pentagon parking lot and carnival cruise ship off the coast of belize. david: rich edson in washington, d.c. first of all, any movement at all on a travel ban? >> david, white house officials will continue monitoring passengers traveling to the united states from west africa, though president obama says he has no philosophical objection to travel ban for the region and despite widening calls for it the administration is still resisting implementing one. the latest approach to the
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administration? add more staff. the white house tapped vice president joe biden's former chief of staff as ebola czar. ron klain, general counsel at revolution a tech venture capital firm here in d.c. is qualified for his new position. >> what we were looking for not an ebola expert, but rather an implementation expert. and that is exactly what ron klain is. he is somebody who has extensive experience in the federal government. he is somebody who has extensive management experience when it comes to the private sector. >> some republicans are skeptical of that. house foreign affairs committee chairman ed royce says, given mounting failings in the obama administration response in the ebola outbreak, it is right that the president sought to task a single individual to coordinate its response but i have to ask why the president didn't pick an individual with a noteworthy infectious disease or public health background? white house says klain will be responsible for coordinating the
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administration's ebola response. he will report to the national security advisor and president's homeland security advisor. david, liz is? liz: rich edson, thank you so much. david: well, as those fears over ebola intensify, demand for protective gear is rising. jeff flock is at medline industries where sales of its protective equipment are soaring from the deadly virus fears. jeff? >> being prepared as you see out here. these are multiple lines that do all sorts of protective equipment. nothing more important than ebola right now. we've got marti moore with me, the chief nursing officer, i hadn't heard that term before, chief nursing officer. what am i looking at right here in this kit? >> you have one of our kits. it has full protective cover with head to toe. you have head cover. you have the eye cover, mask. full body cover and then got your foot cover. >> this is what cdc recommends? >> yes, yes. >> you're a nurse though. >> yes. >> some nurses questioned whether this is adequate. what do you say? >> i think it is really important to think about how you use this protective cover.
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one of the most important things is to practice putting it on and takes it off. what we're understanding you have to have that practice done before maybe you're taking care of the patient. >> gotcha. david, tremendous intensity now, out here. they are cranking about as fast as they can go. take a look though. if you look at other companies that do this sort of thing. this is a privately held company but there are other publicly-traded companies. if you compare that to what the dow and nasdaq have done, companies like alpha protect and lakeland industries, just tremendous run upin the stock. marti, how much extra interest have you seen from your customers, hospitals and rest? >> we're certainly getting phones calls. we're starting to field like 150 phone calls a day. i have talked with hospitals across he nation. as they're we best prepared. the activity level ramped up tremendously. people want to take care of people. >> i understand. i appreciate it time and look at the lines here at headline
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outside of chicago. if it gets fast they can get going faster. they feel like we can meet demand. liz: that is great news, when you have health care workers -- david: when you have a nurse. she obviously cares about the fellow nurses there. thank you, jeff. good news for commuters, gas prices are at all-time lows, at least the past five years with some drivers experiencing unleaded prices below three bucks. guess what? they're set to fall even lower. we'll tell you by how much next. liz: attention all beatle fans. we will show you rare original photographs of the fab four that are set to be auctioned off next month. you want them? you have got to see them. don't miss it. ♪ travelincan feel like one big mystery. you're never quite surewhat.
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43,000 u.s. gas stations. that's according to gasbuddy.com. great news for the consumer and could get better. the company cut forecast for t fall to between $2.95 and $3.10. down from the previous call of $3.10 to $3.25. prices have tumbled 15 cents this month alone and down 50 cents from the recent peak june 28. the average price nationwide, $3.17. >> that could help retail sales a lot. time to go off the desk with another story. six rare photos of the beatles. remember them? up for auction by british auction house bloomsbury, the photos were shot for the abbey road album where paul was out of step and everybody thought he was dead, et cetera. the collection will include the photo that eventually made the cut as the album cover as well
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as the shot. they changed. let's see if they did it. that's not the actual photo. he was out of step, and they photo shopped it and changed it so he was in step. the abbey road sign, sales estimated between $85,000 and $115,000. lot of people would rather have something like this than a stock. you can hang this on the wall. >> i went to abbey road, you can get killed trying to re-create that shot. everybody standing there. it's a road, people! next week, earnings from tech giants apple and yahoo! and analysts are expecting revenue of 39.85 billion dollars. >> what about yahoo!? % >> yahoo! set to report after the bell on tuesday, revenue of 1.04 billion dollars. >> and i would say among the number one things to watch next week will be the ebola
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outbreak, and its impact on the market. i think the market itself has other concerns about what's happening in europe as well. the spread of ebola beyond west africa sparked a sell-off in the markets this week. could the deadly virus head global growth? we'll bring you the latest right here on fox business. it is more, liz, than just ebola. ebola might have been the trigger. all the underlying issues of growth in europe and china. we have the state index number, that was lousy. retail sales down .1%, and inflation was down, and that's what the fed looks add. >> moody's downgraded russia. that's not a big surprise considering the sanctions. just watch, it may affect tte markets. dow industrials ending the session up 263 points. s&p seeing finally a decent gain. for the week almost ended breakeven, not quite, but back looking a lot better.
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the nasdaq at one point today did make it into positive territory, struggling by the end but moving higher by 41 points. >> the russia story is also an oil story. oil goes down, russia's portions decrease. what's coming up? >> "the willis report." gerri: hello, everybody. i'm gerri willis. welcome to a special edition of "the willis report." over the next hour, we're taking an in-depth look at ebola and how you and your family can stay safe. get you caught up on the latest headlines first. the caribbean cruise ship carrying a dallas health care worker is headed back to texas after being turned away in mexico. the passenger has not shown symptoms for 19 days and voluntarily self-quarantined on the ship. no way to know when the second texas nurse truly began illness. after word from the cdc that she felt funny during weekend in ohio. they can't rule out possibility she's been
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