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tv   After the Bell  FOX Business  June 23, 2015 4:00pm-5:01pm EDT

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will they believe him this time. we have a lot to cover. let's talk about markets. we have records at least in the nasdaq. it a pierce the russell 2000 as well. there are records today. we are hitting a high note. the question is, as the bells ring, whether we are in bubble territory, melissa. [closing bell ringing] melissa: yeah. stocks as you said in record territory. tech-heavy nasdaq in all-time high. the sharing economy taking off with names like uber raking in billions in funding. more established companies taking a back seat to tech. get this, facebook is worth more than walmart. are there signs of trouble ahead? let's bring in ashley webster on floor of new york stock exchange. jonathan hoenig of capitalist pig hedge fund. a fox news contributor. ashley, to you first, what are traders on the floor saying. >> it is interesting, low volume today which suggests that is not a lot of conviction but as teddy weisberg just said, climbing the wall of worry.
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russell 1295.72 as that settles. the nasdaq as you can see another all-time high. you can't fight the tape as they say. the question, we'll get into the tech bubble in a minute. but right now, greece, who cares about greece. melissa: jonathan, let me ask you, do you think there is a tech bubble? >> listen, i remember the tech bubble. it was about 18 years ago. when the dow was under 10,000, they were predicting dow 40,000. we don't see that exuberance right now. ashley just mentioned, people are still fearful out there in the markets. they're not quitting their jobs to day trade stocks. objectively look at indices. talk about the nasdaq, russell, all-time highs. even for now the market is saying this is a bull, not a bubble. melissa: i guess. ashley, talk about tech for a second. look at valuation on uber. the fact they still face some legal challenges in some different markets, i don't know, what do you think? >> well these days it is all
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about the vision, isn't it and potential for vision, and market share. eventually assuming we reach that market share, how do we monetize that market share? that is what the valuations are built on. is there a tech bubble? most of the people i've spoken to think, no, not really. we're not partying like it is 1999 as someone just said. there is concern about private market. perhaps the private market where the financial records are a little more murky there could be a little bubble brewing there. but, certainly on the publicly-traded companies, no. even if it did burst, there is the belief that the amount of money being put in is not that huge when you consider the entire financial landscape. i don't think we're in a 1999 situation at all. melissa: jonathan, does it make sense to you that facebook is worth more in market cap than walmart with all of its real estate and all of it is property and history in walmart? and facebook when you have people complaining only their grandparents are on facebook any longer. i have younger cousins.
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they haven't been on facebook forever and only old people go there. that is what they tell me. >> they might say that, melissa, but traffic statistics belie those claims. walmart is a huge company but its growth despite how successful it is has been in the past. facebook is essentially monetizing the world relationships. you uber, another mega, megavaluation, that company is reenvisioning transportation across the world. valuations are high but not like priceline hi in 1999 and amazon was high in 1999. those companies ultimately came through on their promises. growth stocks tend to persist especially when the trend is higher. right now it still is. melissa: before we go, ashley, have you been on facebook today. >> absolutely i have. one of grandma as showing pictures. melissa: i use uber. there you go. david: been on facebooks for weeks. melissa: don't say that. david: more good news on the housing front. new home sales rise more than
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expected last month. it is not all great news especially for those who rent. our own cheryl casone has more. cheryl. >> well, david and melissa we saw the best number on record for new home sales in 2008. another sign the housing market is strengthening. hopefully the u.s. economy. the northeast and the west showed strong gains. if you look at year-to-date number, new home sales are up 24%. in part because there have been job gains. the fact that many americans know interest rates will be going up. by the way hitting just above 4% last week, according to freddie mac. rents are rising across the country for americans. in many cities it makes better financial sense to buy versus rent. another sliver of good news, median sales prices are down. i said sliver. that is all i've got. melissa, dave, that report on rents moving higher on americans is the real headline here. zillow reported that rents climbed 4.3% in may from a year ago and jumped double digits in
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denver, san francisco and san jose. we saw this in the early '90s, it was more expensive to end than buy. that was beginning of a bull market for housing. david: all right. thank you very much, cheryl. well hillary out front. new polling finding the presidential hopeful taking a commanding lead but there's a fly in the ointment that could cause her real problems doesn't road. fox news chief correspondent ed henry to break it all down. what surprised me most about these polls, i want to know your opinion on it too, all this bad information, the negative information about the clinton foundation, whether there was conflict of interest, none of it seems to have affected her. >> no. hillary clinton is locking up the democratic nomination, not something particularly surprising but i do think you're right, in "the wall street journal" poll it is going much deeper than that. deeper than just democrats rally around her. suggesting in head-to-head
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matchups across the country she is beating jeb bush by eight points. marco rubio by 10. scott walker by 14 points. first data point, hillary clinton weathered the storms in early days. there is a lot more that might come at her. in round one, she is pretty strong. the second data point, republicans like scott walker, donald trump has just gotten in, they have time to reach out to voters. it is still early. maybe they make up the big gaps against hillary clinton. final point, there is this wide assumption that just because you know, the republicans have this big primary, a lot of people in that first fox debate in august, they're going to beat each other up and they will be the worse for it. remember in 2007, 2008, a lot of pundits said the same thing about hillary clinton-barack obama. whoever survives that struggle they will be beaten up they won't possibly be able to beat john mccain. in the end it made the eventual democratic nominee stronger. hillary clinton may be lulled by not having much of a matchup on
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the left. number one. number two, the republicans might get stronger by a tougher battle. final point, hillary clinton may be pulled far to the left by bernie sanders and others. david: let's talk about bernie sanders. this headline may be over the top. it was in salon. hillary clinton will lose. she doesn't see the frustrated progressive wave that will nominate bernie sanders. that is way over the top. could bernie sanders, some people see him winning the new hampshire primary. would that force her to change strategy that might negatively affect her in the general election. >> is it a pipe-dream that bernie sanders could win the new hampshire, maybe. he is from vermont. one suffolk university poll has him down only 10 points in new hampshire. 41% clinically, 31%, bernie sanders. denver, saturday night, 5500 people, capacity crowd at university of denver.
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i think there is a lot of anger on the left that hillary clinton is seen as too much of a centrist. she may be pulled to the left by bernie sanders but she still may win. david: republicans say she has to declare herself on trade. >> trade, taxes. bernie sanders said he wouldn't be bothered by a 90% income tax for example for the rich in this country. think about what that would do potentially to the economy. so look, i think the big picture here is, she is likely to win the democratic nomination but to do might be pulled so far to the left it could hurt her in the general election. david: amazing. all the negative stories didn't affect her at all in the polls. great stuff. thank you very much for joining, you ed, appreciate it. melissa: the senate handing president obama a victory, approving a key hurdle for his trade bill in at 60-37 vote. peter barnes joins us from the capitol with what is next. peter? >> hey, melissa, that's right. today the senate helped the president get one step closer to getting trade promotion authority, so-called fast track
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authority that the president has been trying to secure to help him negotiate a gigantic pacific trade agreement. that looks like it is pretty much a done deal at this point. the senate got 60 votes today to clear this key procedural hurdle. a final vote which needs only 51 yes votes is expected to tomorrow. this bill has already passed the house. so it will likely head to the president's desk despite overwhelming opposition of democrats which we've seen throughout this whole process. here is one frustrated senate democrat after the procedural vote today. >> we make a decision, throw people in mansfield, ohio, cleveland, ohio, out of work. but then we don't care of those workers that lost their jobs because of our decisions. it is shameful, mr. president. >> senator brown is referring there to really part two of this trade package, so-called, worker assistance program to help workers who might be hurt by free trade, who might need job
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retraining if they lose a job, might need some financial assistance. this is a program the democrats fought for and supported through pretty much every trade deal in modern times. the white house has said the president wants to sign bills for both the fast track authority and the worker assistance at the same time but the white house putting pressure on democrats today by saying if they don't pass the worker assistance measure, the president is willing to sign the fast track piece alone. >> i don't have a time frame to lay out for you right now in terms of when the president will sign one bill or the other but the president certainly expects to be in a position to sign both of them. >> republican leaders hope to get all of this wrapped up. both pieces of legislation, voted on and sent to the president by this week. melissa? melissa: wow, that's a lot. peter barns, thank you so much. >> you bet. david: elsewhere on capitol hill, more confusion over the massive takata airbag recall.
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nhtsa administrator mark rose kind testifying before a senate hearing. there was a mistake. some cars were double counted. democratic senator claire mccaskill not holding back her frustration. >> this audit report is one of the worst i have ever seen in terms of government agency. the reason it is so bad, i agree , this is not about resources this is about blatant incompetent mismanagement. david: what do you really think? so far 32 million vehicles in the u.s. will need to have defective deflators replaced. those linked to eight deaths and 100 injuries. coming up tom brady pleading his case to commissioner roger goodell over the four-game suspension. we'll tell you if the odds are in his favor. melissa: the u.s. data hack may be four times bigger than the government originally believed.
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can you imagine that? david: how many government employees are there? do you want to pay for bottled water if it could have e.coli in it? the latest details on the bottled water scare straight ahead. can a business have a mind?
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actions nfl superstar tom brady telling his side of the "deflategate," hoping to get his suspension thrown out. adam shapiro is outside of nfl headquarters where brady's appeal is being heard. adam, we're going on seven hours. he is still there? >> started at 9:00 a.m. this morning. he will be given four hours to make his case why the wells report, ted wells, being attorney who wrote the investigation which essentially found him somewhat culpable for deflate he was able to make the case why it is wrong. wells report said it brady was generally aware of intentional
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deflation. brady making his case, he has outside counselor to the players association. kessler has been through this before with other players who were given penalties and punishments were reduced after this kind of an appeals process. we call it a hearing. not as if it has some formal court proceeding. brady still if he doesn't get response he wants he could sue for breach of contract. here is the consequences for tom brady. wants four games suspension. will cost him 1.8 to $2 million. for the patriots costing them one million dollars. they are not appealing. they will sufficient suffer some draft losses. one million dollar fine kraft who owns the patriots, no, we'll take this and move on. this is what is going on right now. this is one of the most successful quarterbacks in nfl history. six trips to the super bowl. he has won four. three-time super bowl nvp.
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patriots have won more division titles than any team in nfl history, he has 12 of them. tom brady, some ways the salvation of the nfl with a lot of people. other ways people who can't stand the patriots say he might have cheated. david: if he didn't tell the truth he didn't tell the truth, no matter what you think of the patriots. we have more with an all-star panel coming up, medical list. melissa: there you go. another big sports story. the u.s. women's soccer team advancing to the quarterfinals of women's world cup defeating colombia 2-0. the referee gave a colombia team member a red card. they took advantage of one-man difference, scoring two goals. u.s. will face china quarterfinals. that is on friday night. the team will be without two key starters after they collected two yellow cards each. they're required to sit out for the next game. that is going to hurt. david: you watch women's soccer?
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melissa: do i make it sound like i watch women's soccer. david: you sold it. melissa: yes, of course i do! david: all right. i don't. or haven't recently. meanwhile while walmart, sears, ebay all said they will no longer sell confederate flags, one retailer's picked up other businesses. confederate flag products were biggest gainers on amazon.com. amazon will halt sales of those items after last week's racially motivated massacre at the historically black south carolina church. melissa: still ahead, the u.s. data hack may be four times bigger than government originally believed. how is that possible? david: can affect everybody. for those of you traveling, airlines raking in major bucks for those annoying check bag and flight change fees. we'll tell you how much they're making coming right up. ♪ behold, these are two wind turbines.
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david: couple of other stories on our radar. looks like u.s. officials underestimated the cyberattack on current, former and prospective government employees at the office of personnel management. officials initially thought just over four million personal records were hacked. that is bad enough. turns out the real number is closer to 18 million. seats, meals, free items might seem to be shrinking when you travel on a plane but one thing that is not is travel and flight change fees. for the first quarter, airlines raked in $1.6 billion in those fees. that is up nearly 7 1/2% from the same period last year. it is also the highest amount for the first quarter since baggage fees were introduced back in 2008. anything agria bottling is voluntary recalling several brands of its bottled water, this after one of the its spring sources was found to be
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contaminated with e.coli. the discovery was found june 10th. the source did not immediately notify the company. it was branded under 17 chains, including wegman's. the company has instructions on the web site to see if you purchased recalled bottom es. i'm always bothered with buying bottled water when the stuff coming out your tap is very often better than the stuff you buy. melissa: i love it go to the restaurant and try to sell you bottled water. bring me tapwater. teen. good enough forever. david: now even better than the stuff you pay for. melissa: there you go. look at the major market movers driving today's trade. we're still watching for a deal for greece. we're learning that greece's prime minister will meet with the heads of imf, eu and ecb. that is tomorrow in brings sills. they will discuss how to end the logjam negotiations. meanwhile thousands of greeks is rallying from athens.
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saying government will race taxes and cut pensions. one key negotiator for greece says he believes they're closer to a deal than ever. i heard that before. stay tuned on that one. meanwhile shares of blackberry diving as quarterly results missed expectations. the company going out of its way to stress its future as a software and tech company, not just a smartphone maker. at&t surging in active trading following the upgrade to an outperform over at barclays. analysts cited optimism over its acquisition of directv. david? david: and, a breaking update to that massive cyberattack story. we can confirm hackers were able to gain access to the database containing personal information by using credentials stolen from a contractor. that contractor is colorado based key point government solutions. it specializes providing investigative services to the government, and it was hacked last fall. investigators are trying to track down other routes that the hackers may have used.
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incredible story. keeps getting worse. melissa: wow. david: coming up, surprising number of states with americans still struggling to find work after the recession which many people say never ended. melissa: hmmm. how much do you have in your emergency account? a new report shows that many americans have zero savings. oh, boy. we'll be right back. ♪ it's a highly thercontagious disease.here. it can be especially serious- even fatal to infants.
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melissa: president obama touting an economy getting stronger with jobs added and lower unemployment rate. good luck telling that to 15 states still have not recovered jobs lost during the recession. here to discuss it all, university of maryland economist, peter morici. kennedy, host of the hit fox business show, "kennedy." dan henninger, deputy editorial page editor from "the wall street journal." hard to follow kennedy. >> i do have phd in economics. melissa: peter, let me start with you. did you see the report? 15 states still don't have as many jobs after the recession. these are details that warm your heart? >> absolutely. and there is no particular pattern to it. there are a couple of rust belt states. one has heavy government, illinois. one light government, wisconsin. there are obvious candidates, west virginia. the president outlawed that state by outlawing coal.
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nevada, easy to explain. people are not gambling as much going to destination anymore. it is online. what is hitting sears roebuck is hitting the strip. melissa: dan, there isn't really a rhyme or reason to the 15 states out there. nothing connecting that much like pete morici said. the same way percent of jobs that are part time is higher than it was before the recession. just like we haven't recovered good jobs anywhere. >> it is an irony, melissa. there is economic anxiety out in the country. believe it or not i will say something positive about this number which is that a year ago the number of states that had not replaced jobs lost, was 33. that was last june. so we're down to 15. at least we're moving in the right direction. again the labor force participation rate is about the level of 1979, meaning people dropped out or stopped looking. until that starts to get better i think we continue to see this kind of choppy recovery.
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melissa: kennedy, what is your take? >> i think these numbers so often from the administration are so dubious, you know you don't have a good job because you can't pay your bills even though the obama administration counts you as among fully employed even if you work one hour or one day a month. still a lot of smoke and mirrors. i wouldn't call this a full recovery. there are a lot of people out there across the country for no rhyme or reason are still very much hurting. >> peter, i was surprised to see number of people working part time for economic reasons who need a full-time job in order to pay their bills actually rose. that seems like again we're going back to more part-time employment which doesn't get the job done. >> yeah. obamacare is a big factor. you don't want to employ people for too many hours. rather you take two jobs, break them into three and don't have to pay for health care which has become terribly expensive. also part-time workers are more pliable. you can pretty much get out of them what you want. they don't worry about them
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asking for a raise. if they do they know they will be out the door. they're very disposable. economy not creating jobs or growth, there are a lot of nasty employers out there. that creates this kind of a situation. melissa: dan what do you think is the problem? >> peter just put the finger on it. over the course of the obama presidency, we have not much better than 2% economic growth. that is weak growth for the united states. and i to his credit i will say that jeb bush in his announcement recently said he would shoot for 4% growth. it is a valuable number to go for. until we get up over 3% again we'll be trading water in the way we've been describing here. melissa: and, kennedy, amazing the number of people said he was dreaming with 4%. that isn't that big of a number. >> isn't that said? in 2007, wow, jeb, below expectations. but now, absolutely, we need to find a president who will spur true economic growth. and you know, not just lie about these numbers when they look
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halfway rosie in order to boost his or her legacy. melissa: peter, how do you drive in that direction? what would make a difference? >> you have to get away from regulating for social purposes. what is hillary clinton promise us most of all? the paycheck fairness act. employers will have to justify every salary at every position to the eeoc, the justice department, what have you. that level of regulation, look what is going on wall street. tens of thousands of people being hired for compliance. none of them make a loan or make a trade. they just fill out forms all day. we need a change in. it is not dividing pie make it better or bigger. >> absolutely. have people make their own pies. you have to get economic regulation, get government out of the way so people build businesses to make money. melissa: dan, people look at part-time stats and this is why we need to raise the minimum wage. that is opposite lesson.
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nobody can support a family on minimum wage. if you raise the minimum wage you will see more people out of work, do you agree? >> i agree, melissa. we want economy like france's, where educated people go to london to get jobs waiting in restaurants. or we want kind of economy the united states has had in the entire postwar period which people get real jobs based on the education they have attained. we don't have that right now. melissa: we'll leave it there. thanks to all of you. david, over to you. david: when it comes to hiring and wages few carry as much power as world's largest retailer. maria bartiromo spoke to the ceo of walmart in a first on fox business interview. maria? >> growth in wage as huge topic in the country today. several major u.s. cities including san francisco and seattle improved minimum wage increases. others such as new york city and washington, d.c. are considering them now. walmart already increased it is minimum wage to $9 an hour. it will raise it again next
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february to $10 an hour. today i spoke with walmart ceo doug mcmillon first on fox business. >> we want to make sure we have strong talent for the future and retaining developing people that can become store managers and do great things within the company. i've been there since i got out of graduate school and walmart presents opportunity for people. it is a ladder. so the way we think about it is, we want to make sure our starting wage rate is positioned in a place where people are attracted to the company because they want the opportunity to do more. >> melissa, david, walmart employs 1.3 million workers nationwide. when they make a move like this, you can bet it will have impact across the country, perhaps across the world. over to you. david: thanks, maria. watch "mornings with maria" every weekday, starts at 6:00 a.m. hulu landing 100 million-dollar deal at seinfeld. she has a mystery guest. won't tell you who that is. it is not the soup nazi, i know
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that. we have breaking news, stock news. netflix announcing a seven for one stock split. shares ending at $674.35 a share, and up about 1% on the news in after-hours trading. the stock dividend will be payable on july 14, 2015. what a valuation. melissa. melissa: wow, breaking news in the airline industry. boeing announcing it named a new ceo. dennis milanburg will succeed names mcinerney. mcinerney will remain chairman of the board and incoming ceo he has been the president and coo since 2013. he is going to take over on july 1st. wow. new ceo over there at boeing. david: new and existing home sales soaring to multiyear highs. do we have the fed to thank or perhaps to blame for all that?
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melissa? melissa: rabbit tales from a former "playboy" bunny. what holly madison says about what life is like inside of hef's mansion. ♪ you wouldn't haul a load without checking your clearance. so why would you invest without checking brokercheck? check your broker with brokercheck.
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david: we have breaking news that is really shaking the airline industry. boeing announced it named a new ceo, dennis muilberg. he will succeed james mcinerney and will remain chairman. board. he has been the president and coo since 2013. he is, he will take over on july 1st. mcinerney will remain an employee until retiring in february. not much movement in. stock value after-hours. it is down just a tick but 44,000 shares changed hands in after-hours. no change in price but you can bet this is stock worth watching tomorrow. melissa: absolutely. a big story for boeing, a change at the top, david.
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david: some concerning news linked to your bank account. when it is time to tap into the emergency savings, 30% of the americans have none, zero, zip. that is according to a new survey by bankrate.com which also found 65% of respondents do not have sufficient emergency cushion to pay for six months worth of expenses if they lose their job. that is the highest level since the financial website began tracking since the great recession. culprit, lack of growth in household income retalked about before and remains a missing link in the economic recovery. melissa. melissa: the housing sector is looking rather healthy after new encouraging data came out. more first-time homebuyers taking the plunge in may to catapult existing home sales more than 5% higher that is the highest in six years. today new homes sales data shows a seven-year high with 526,000 sold last month. back to discuss all of this, kennedy, dan henninger along
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with thestreet.com's personal finance expert laurie lyons. i always had theory we need threat of rates going up for people to finally take the plunge so maybe this golden period of low rates is ending and time to buy a house? >> i think it makes a lot of sense. people are concerned rates will go up. mortgage rates are increasing ever so lightly and but still very low. rents are increasing so people feel motivated to buy a home. melissa: kennedy, do you think people make a decision based on rates or a life change or new house or another bedroom? >> sometimes you want to get equity out of your house. people have a little more financial stability and able to qualify for those loans. they can take some money out and hopefully spend it on wonderful shoes an -- melissa: there you go, what is really important in life. >> exactly. melissa: is there any chance we're creating another bubble in housing? we've had rates low so long and seeing prices go up? at the same time rents have gone uphigh? according to zillow's report
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that push ad lost of people into buying. >> i think we're far away from the 2007 or 2008 froth that led to the housing bubble. this is choppy, unequal trend. most is taking place at the high-end of the market, more expensive hopes and happening in the west and northeast. the midwest and south described in a previous segment they're still having flat or weak sales. so the economy isn't really growing strong enough to make the housing market get to the point where you have to worry. >> nevada is still underwater in the housing crisis. melissa: this is one of the things that spurs first-time home buyers when you look at the rent versus buy ratio and bedrooms you need, size you need, see price of rentals i can going up, it makes more sense especially with the mortgage deduction. >> it is tough with a lot of people. 30% of the americans don't have emergency savings account. i worry about how people put down payment on houses if they
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are going to buy. if wages are a little stronger for them at this moment they might overbuy and extend themselves further than what they can afford. melissa: "kennedy," you have a big show, landing quite the interview. >> very interesting. holly madison, one of hugh hefner's girlfriends. you remember "the girls next door." melissa: everybody does. let's listen. >> i was unhappy for a while. i always kind of blamed the problems on the other girls in the relationship. if they weren't here, if they weren't here i would be happy. if it were just me and him i would be happy. when that day came seven years into the relationship. kendra and britney go separate ways, i thought that it what i wanted and certainly, without the other girls to play off i started to see more of his character and true colors, things i had been ignoring the whole time and i wanted out of there. melissa: one of those things you don't hear people say a lot. the real problem was the other girls in our relationship. >> it is like big love.
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she said they had a lot of interesting, strange bed-time rituals that will surprise. melissa: you after-hours on the fox business network. thank you, tune into "kennedy." i know i'm going to. 8:00 p.m. on fox business. more from holly madison and for kennedy's exclusive interview with an coulter. that is quite a combination. >> powerful blondes. melissa: there you go. david, over to you. david: we'll watch that. more breaking news in the airline industry. we told you about boeing announcing its new ceo, dennis mule henneberg. he will succeed james mcinerney. max american any will remain chairman of the board and new incoming ceo will remain on the board. he will take over on july 1st. mcinerney will remain an employee until retiring in february. as we told you there is not that much movement. the stock is down a little bit in after-hours trading. 44,000 shares last we checked
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were trading hands after-hours but not much change in prices down about a buck of a hours. melissa. melissa: netflix announcing a seven for one stock split. shares ending today at 674.35 a share, up about 1% on the news in after-hours trading. the stock divided and will be payable on july 14th of 2015. david: 700 bucks a share for netflix. coming up, seven hours later, tom brady is still at it. he is making his case off the field to get back on the field when the season starts. now we have a top-notch sport panel here to tell us how good after case he has to get, has to make in order to get the four-game suspension changed. plus, facebook is getting a little more personal with its new facial recognition technology. find out how the social media giant is taking tagging to a whole new level. personal can they get.
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see car insurance in a whole new light. liberty mutual insurance. melissa: new pictures from upstate new york. search for two convicts escaped from prison 17 days ago. can you believe it is that long. the search for david sweat and richard matt centering on mountain "view," new york, just an hour west of prison. new activity going on. check it out. we'll bring you more as soon as we have it. david: a lot of breaking news. four-time super bowl champ tom brady pleading his case in the "deflategate" controversy. hoping to get his controversial four-game suspend shun reduced or come out a winner. we have mark from fox sports 1. dan kaplan from the sports
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business journal. jeff foster from the. you said tom brady is under oath. i didn't know that happened except it court. >> ray rice and adrian peterson, greg hardy. those cases were more serious situations. we're talking about air pressure in footballs, to anyone talking about perjury or if that will happen here as it relates to down the line. i wouldn't worry too much about that. what is said in here could be admissible should this thing wind up in court down the line. if you're thinking anything about perjury, anything in that regard, cool your jets on that one. david: dan, are you surprised this thing is going on? it is been over seven hours? >> no, i'm not surprised. there is dispute exactly how much time the brady side is supposed to get. adam chefter, the great reporter
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for espn said they were limited to four hours. nfl head of pr said this is not true. a letter said it would only be four hours between the two sides. this could become a topic of dispute down the road. david: dan, he is under oath. obviously wouldn't be under oath if the nfl believed him. they don't believe him. do you believe him. >> i do believe tom brady actually. the american enterprise institute report came out, there was another scientific study came out. the fact that the ted wells investigation relied on two different gauges, there is so much dirt to throw in the face of this investigation. david: well, jeff, i guess the nfl would argue, frankly they make a good case on the other side, the equipment manager who admits to being the deflator, he couldn't have done that without some knowledge of it by tom brady right. >> right. that is the argument. this is based on assumption. they don't actually have any evidence that tom brady told him to deflate these footballs.
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they know they were in contact. i think we know that tom brady definitely has an interest in the balls and liked them more on deflated side. thing people will point to over and over again there is really no smoking gun here. david: mike, the nfl, the nfl players association wanted roger goodell to recuse himself from this meeting. why? >> well, because this is their way of fighting for is something that they didn't get in 2011 when they negotiate a new collective bargaining agreement and can't negotiate again until 2020. this is the most high-profile guy they will have for an appeal. tom brady is inside of that building. we were talking about this today. this is not some saints defender as part of bounty gate. this is one of the big names in the nfl this is chair chance to ratchet up the leverage to get independent arbitration when it comes to any of these cases. david: got to ask you quickly, one game answer. will the four-game suspension
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city, dan. >> i believe it will be reduced to two games and they will take it to federal court. david: jeff. >> one game, no court. david: what do you think, mike? >> i'm with dan, two and we're in court. david: guys, thank you very much. good discussion. melissa? melissa: facebook is claiming a breakthrough in photo recognition. the company says it developed a way to recognize people in photos even if their faces are obstructed. the new technology takes into account things like body poses and partial views of faces. deirdre bolton joins us now. this sounds very controversial. >> extremely controversial. i'm sure facebook will have numerous discussions as you rightly point out about privacy. as you said, i mean this new technology can recognize you if you're in photos, even when you're not looking. you said it, all these clues, all these patterns. i guess we're so predictable. but it takes into account like you said, your body language, how you normally pose, your
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clothing, even partial views of your face. so, it is cool and it is creepy at the same time. and i guess we should be getting used to this as far as social media goes. speaking of media, melissa, we'll have so much more on breaking news from netflix, announcing that stock split seven to one. the share, you and david have been talking about as well, up almost 100% year-to-date so far. seems like a lot of pressure to do something. melissa: sounds like a great show. we look forward to it. thank you so much. new developments out of upstate new york. the latest from the scene as law enforcement officials hunt down those two escaped prisoners.o ai we'll be right back. no? you can't see that? alright, let's take a look. the one on the right just used 1% less fuel than the one on the left. now, to an airline, a 1% difference could save enough fuel to power hundreds of flights around the world. hey, look at that. pyramids. so you see, two things that are exactly the same have never been more different.
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>> breaking news from the boeing company. they announced a new ceo, james muilenburg, succeeding james mcinerney. the incoming coo will join the board. mule henneberg has been the
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president and chief plating officer. muilenburg. this is insider moving up the ranks. he will take over on july 1st. mcinerney will remain as an employee until retiring in february. he is 65 years old. 44,000 shares trading hands after-hours. no change in price. david, we see that retiring ceo going out now with mixed reviews. solid profits. shareholders liking him. he has been criticized from the inside employees as being very tough. we'll see how that ends. david: more stock news. netflix announcing a seven for one stock split. shares ending at $674.35 a share. it is up right now about 2.3% in the news in after-hours trading. as you can see, $697 is the bid right now. the stock dividend will be payable on july 14th, 2015. begin trading regularly at the post-split price on
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july 15th. that stock will come down, if it stays where it is, about $100. >> search intensifying for convicts who escaped 17 days ago. the search for richard matt and david sweat centering on mountainview. we head off to deirdre bolton. deirdre: we'll pick it off where you left off, melissa and david. also on "risk & reward," hackers got four times as much information as originally thought. we'll tell you what type of information was most exposed. a wearable device that gives you energy. who doesn't need that? we'll tell you more. if you hate to be the bad guy, there is an app that will break up with your significant other so you don't have to. also want to tell you, we'll continue to cover it, that breaking news, seven for one stock split for netflix. "risk & reward" starts now.

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