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tv   First Business  FOX  September 11, 2009 5:00am-5:30am EDT

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the push to reform healthcare. as more americans go without health insurance coverage. how many are not protected? plus...nevada, california and florida take the foreclosure titles. hundreds of thousands of new foreclosures nationwide, led by those three states. and..summer box office sales reach a record ...but with fall and winter approaching can we soon expect the movie industry to cool off. certainly not cooling off as the appetite for investors to own both u.s. stocks as well as government ious government bonds we have the dow jones industrial average on this friday ahead of the opening bell close to its highest level since last october and still lost interest in buying government bonds if interest rates still as low as they are. and we are
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getting news from the treasury department this week on thursday in fact treasury secretary test right and from the congress said that $70 billion of the part money has already been paid back by banks and he says open next year and a half banks will pay back an additional 50 billion remember the public-private partnership in which the investments for private investors are supposed to buy toxic assets are still stitching on balance sheets the treasury secretary says the program will still continue and going to be launched up in the next several weeks. what of the watchdog for treasurys that the toxic levels still remains on the books. debate over how to reform health care heats up.. as president obama goes on the offensive.... leaving the door open to the idea of a government run insurance option... talking with a group of nurses on thursday... president obama again took the opportunity to clear up any misunderstanding about his reform plan... he also repeated what he told
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congress earlier this week... saying the government run public option.. is only part of a larger plan. but let me just repeat because this is the source of the rumor that we're plotting some government takeover of health care -- it would just be one option among many. no one would be forced to choose it. and everybody believes that the vast majority of people will still be getting their insurance through private insurance. the president's remarks come just as the census bureau reports new figures that show the number of people both with and without health insurance are on the rise.. americans with no health care coverage rose from 45.7 million in 2007 to 46.3 million last year.. while the number of people with health insurance stood at 255 million last year.. up by 2 million from 2007 and the president.. had a message for those millions who already have health insurance: now, for the hundreds of millions of americans who have
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health insurance, nothing in this plan will require you, or your employer, to change the coverager the doctor you have. nothing will change for you if you have insurance. the census bureau also reports.. that the number of people covered by private health insurance is declining slightly... while those on goverment health insurance ... including medicaid and medicare..is on the rise... totaling more than 87 million. nevada, florida and california continue to lead the nation in foreclosures. more than 350- thousand properties fell into some stage of foreclosure in august, from a mortgage default notice to a bank repossession, according to realty trac. that's down less than one percent from a month ago and up 18 percent from a year ago. almost two out of every three of these foreclosure filings come from just three states, nevada, florida and california. on area of less bad news may be fewer bank repossessions in august compared to a year
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earlier. while existing home sales have jumped in recent months, a third of them are considered distressed sales. banks may be backing away from repossessions, trying to work out deals with homeowners instead of taking back the house and trying to sell it, which could add more downward pressure on prices. world wide oil demand is expected to go up... thanks to better than expected economic data here in the united states and in china... for the second month in a row, the international energy agency raised its forecast.. saying oil demand is likely to rise next year.. to almost 86 million barrels a day.... the agency revised its forecast up by half a million barrels a day ... but it also said oil demand is likely to remain weak for the rest of this year.. the news helped drive crude oil to 72 dollars a barrel... but some traders say speculation about higher oil demand may be a little optimistic at this point. "i see a little demand increases... but it's on a tight leash... week to week, month to month.. it's nothing to
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write home about.. but demand is a little better." the higher demand outlook comes in the face of global oil supplies that are still very plentiful... here in the u-s crude oil inventories.. stand at just over 337 million barrels.. that's on the high end for this time of year. and the bigger concern.. still centers around low production levels... the international energy agency points to "poor refining margins" .. which means refiners are producing oil at a slower pace. traders say that could pose a problem. "the consequence.. if you had a real increase in demand, and not have refining product to meet the demand, is that we'd see a spike in oil.. companies
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would be scrambling to find product... we'd also see outages in some spots around the country. " also this week, the organization of petroleum exporting countries... said it will keep its production levels the same. opec produces about 40% of the world's oil supply. despite the traditional september been a bull market killer we have seen certainly the stock market reached new highs and how to months. brain is with us over at the cme group would be make of this rally this first full real trading week in september? we have had a couple days in a row with a market rally. unless filling could it seems to be a feeling that the part of is that people don't miss it. there's money on the sidelines best breeding money into the stock- market. boy of 3057 e points a day is not just hundreds and hundreds and hundreds the other part of the market we have to look at is interest rates should we had a blowout we can
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treacheries we had preteens and thirties all options when well yesterday that 30 year was a killer it came out great it was great attendance everyone care in a trade up a point after the auction came as 12 billion three-year notes. this is significant more than 20 billion in government ious own record please supply in the market is eating it up. at the part of that is that there are two things going on in the bond market when its people are not sure where to put their money so their hiding it in treasurys. there's so much stimulus truly is not just the u.s. and europe asia and everyone else they're pumping so much money in the system when you don't know where to go if you're on certain if the park in the deepest market you have in the treasury market. so that is mass but the real direction of interest rates are because there's so much more money hiding and treasurys. it does seem to be selling the stock swap post so much highs brave battle along with the sea is the performance trust koppell powers at the cme group. banks.
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still to come summer ticket sales ring in a record ...raising the bar for the cooler months...can they deliver...that's later on. but first...we're checking the scorecard with one of our regular stock pickers...we'll see how he did...after the break.
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we have seen some gains in the market over the past six months in fact that s&p 500 has in this high in the last 11 months. he helps run management. welcome back. some ice picks you were on march just weeks after the market hit this most recent bottom. to look at the results here each of these showing double-digit moles pull down double digits higher still holding? certainly when it are set we continue to hold increase government demand is likely to continue to drive the business as well as commercial adoption it will be one that we'd like to and up and take profits take position off is not so much that there's a fundamental probably would rather put money in stocks like aluminum that is as business as opposed to a specific me ask about genetics is sound like 31 percent july have a split is split the genetic business of
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diagnostic business you still have the diagnostics? we have liquidated the position at this point. altogether finally starting at networks mobile multimedia efforts cutter. it's also a great play on chided development bond prettier for their data more data-services in china. we continue to hold and think the business is very well-positioned. and start night up by 72 and 51 percent respectively back to the money on the table. we have full position but i would for the portfolio be buying. bring the picks for us here imax. the business of the box office is planning board and the talk about that in the next segment. and 3 d has been booming as well. there at the right place at the right time. for one other reason the cost of disturbing a digital film as lord and the cost of disturbing a print film something like 45,004 traditional film and 604 diddle mort imax digital and we
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did more profit for imax. hundred and 23% return. i sure think it does. we just did a secondary offering and paying down debt. we participated and we think the economics make sense. the money from offering estate in terms of joint ventures. because they are expensive to put those a lot of retail and real-estate to put those big screens up. suddenly the economics work very well. another pickier broadband access to the big thing here is mi why fight these orders $100 million on the books already in is only a few months in. essentially a wife i so if you're traveling with your wife and kids 5 mobile the first prom our group there will be some competition but in the meantime the world as an oyster. the barrier entry with anything
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broadband mobil is usually pretty small for the company participating how fast can really monetized? i think they are already monetizing it and i think it will probably get competition six months in but i did the meantime. 139% higher. certainly was for a new portfolio. a ship info holdings telecom i seek security in china most of the operation most of the revenue coming from is to play here on the asian balance? the play is on asia 3 g. that makes systems for telecom carriers and has increased wire data services are demanding and 3 d, online a judge unfolds at the right place at the right time. any i phone with a default? at a think is gonna be a big drive a big driver is a treaty licenses as well as the restructure of the china industry there is an additional carrier will bring
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the mix of three they sell to all three and suddenly the old networks compete to get people's businesses. one metrics other than the strength of the network. you are hot on china? we loved her and we love pretty this is a combination of both. we have another picture online one that is up better than 600% we will tell you what it is just go to a website at first business x. c o m. thanks. online items hundreds of thousands of struggling homeowners getting help from uncle sam.... but there's still a lot more people who may be missing out on help...on our website see why housing counselors say banks could reach out to more homeowners. plus, u.s. companies look to expand to cuba now that certain restrictions are being lifted...a look at how it could impact both countries economies. and... a native american tribe makes history on wall street...you can catch it all on our website at first businessx.com. and straight ahead on the show...
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the movie industry cashes in on summer ticket sales...but will the forecast be the same for the fall and winter months...that's coming up after the break.
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movie fans flocked to the theaters over the summer, pumping up movie sales but what about the bottom lines for studio shareholders? david sikich is back with us. fired up been dimmed the lights movie fans flocking to the bitter old summer pumping movie
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sells what about the bottom line for studio and their shareholders in the fall ahead david is back with us watching the movie business in the movies as well nice to see you. tough labor day as you predicted and back a week ago betterton $4 billion in sales in the united states over the summer. i mean the thing is no one expected much from labor day weekend so there really wasn't a big deal. the big deal was international this a new record of 5.8 billion coupled with the 4.3 billion record domestic that's more than $10 billion. for studios this summer. that's tremendous. is even made war press because exchange rates don't favor american companies like they did before last fall economic collapse and when we look at the chart of the top four movies of the international to of these movies double the gross domestic and ice 8 actually tripled meaning. the screens are really growing in taking more points internationally. american movies continue to remain a tremendous export. huge export and obviously hollywood business isn't only domestic really is becoming much much larger over seas. what about the
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pipe line here coming off this huge summer we're on record pace is the product there to support the profits? it's hard to say right now the something is want to be different in the fourth quarter in this. it has to do with the supply and demand of the team is there is last fall credit crunch meaning fewer movies this quarter and did the research 135 movies are going to be released due sept. in december compared to 199. in 2008 as a 32% drop-off that can be a lot smaller independent movies film makers couldn't find financing or they've confine distribution. for the second year in the world for paramount has pushed to of the bigger movies back to the following year. touse not have to show the marketing costs on their books. one of the movies isn't shattered island would be an idle the capital moved from october to four rigs orders on
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happy about this because a look like it's going to be one of the better movies of the fall. but paramount business model of taking on partners in lowering risk limits their profits that they have to share with during works in the county to cut costs. one way is to shift costs to the next fiscal year as opposed to the current fiscal year. meantime more immediate focus obviously another busy weekend this coming weekend here slasher films through a fence anything to get excited about? a week after labor day is also a very slow we to perform we show promise. the two that don't summit entertainment has toward t wrote a horror movie. the score it looks like a standard action thriller but the two movies that show promise have brand names attacked with them tim burton is
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the producer for nine. the open wednesday 999 is an animated stop motion futuristic sci-fi movie in britain has a following with this fantasy audience. antheil. with tile perry's house of pain look at the list of movies that he has distributed. his latest movie is i can do bed by myself is the most unlikely tycoon and high noon because he owns his own negative 7 movies since 2005 they have all been hits he supposedly made 75 million last year this is a real racks to riches story. when he started doing his place in churches he was living homeless out of his car. but slowly built the base of middle-class african women churchgoers will continue to build a base he owns than it in his movie should be number
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one again. he does is releases on offshore weekends. he's not in the summer. another number one for him. he's going to own and again david sikich back with us watching the movie industry. stock markets are now making new highs for 2009. we will take a closer look at the charts coming up next.
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the bulls firmly in control here so far this year the s&p 500 making new highs for 2009 this index is up 16% since stay rare. a combined interest
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continuing to develop and no doubt buyers on the chart following the s&p five winters strong bounce off of the bottom back in march and the trend continues to be in effect now we are at the highest close since october maybe a bit of a possible 0115 or so if but a lot of head room between here and hundred 20 a share. tech led the nasdaq accused if this exchange traded fund checks the nasdaq 100 investors buy the dips and the dips don't even look like much of bids at all. much of a bill that also investors continue to look for value here in 4150 a share for the queues and again this is actually a better performer the nasdaq 100 up almost 40 percent since a rebel on the chart even looks strong gird the s&p five under certainly the introductory has been what may have been some resistance around 40 a share we will see if they can stay over
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that. we want to hear from you a couple of ways. the mills comments at first business x. c o m the voicemail 3126608397. see you online or back here next time. how does jell-o sugar free pudding fit all that rich,
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chocolatey taste in 60 calories? ♪ ♪ oh, so delicious who cares? jell-o sugar free pudding. every diet needs a little wiggle room.

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