gm says it will work with suppliers alcoa and novelis. a company once closely tied to the automotive sector is moving in a new direction. garmin -- known for gps -- posted a 27% earnings increase as the company builds up business with aviation and fitness to offset a decline of use in cars. the stock headed due north by nearly 10% yesterday even as garmin warned-- more people using gps on smartphones and tablets. kellogg company is caving to pressure from environmental agencies - and vowing to buy only environmentally-friendly palm oil. kellogg will buy palm oil only from suppliers that comply with environmental laws protecting rainforests. palm oil cultivation has destroyed more than 30 thousand miles of rainforest in indonesia and malaysia alone. it is a minor ingredient in some processed foods. nestle is recalling some flavors of hot pockets. "philly steak and cheese" and "croissant crust philly steak and cheese" brands are being pulled from store shelves the products may contain us-da recalled meat from the "rancho feeding corporation

we keep a keen eye on alcoa, the aluminummaker. interesting news for aluminummaker alcoa./3 of 1%, alcoa is up 4% on news general motors will be working on an aluminum body pickup truck due out in the year 2018. alcoa already supplying ford for its's 150 pickup truck of aluminum. aluminum body. that is in the news for aluminummaker out, and that is why you're seeing the up arrows. alcoa, the aluminummaker getting a pop. >> i love the smell of money weather in the morning or the afternoon. you have on the floor of the stock exchange. it smells better in the studio. let's talk about minimum-wage. the minimum wage war and reaching the fever pitch after the cbo finding that the increase back by president obama could take 500,000 people out of the work force. maybe even 1 million. rich edson at the white house with the latest on that. >> some remarks from the president on a separate issue about what is going on in the ukraine, the president saying in mexico he holds the ukrainian government primarily responsible for insuring their handling the protesters peacefully and there wi

we also have our co--- alcoa closing a smelter. it's not looking good on that side of the industry either. >> it certainly isn't. there's a town in the state of victoria which is bearing the brunt of a lot of this. the carmaker is based there. that is where this smelter is as well. the port henry smelter is down there. there are also two rolling mills in different states. they are being closed. they are unsustainable according to the ceo. he says they are no longer competitive. they are not financially stable now nor into the future. the plant is very small, very old. it doesn't offer these economies of scale. for the workers, 980 of them are going to be looking for new jobs. it is a very sad picture at the moment. for aluminum they had a 40% stake in the plant. they are an australian-based empathy. there shares are down two percent today. as for the parent company alcoa, they have a few smelters around. there is another in victoria. they have refining and western australia as well. this is going to cut their global smelting capaci

basis of its pretax income for the last four years these subsidies amount of all the pretax profits alcoa can expect for the next one hundred and eighty nine years wow so this company is essentially running on government cash nice also interesting that alcoa makes no public mention of these massive subsidies its annual shareholders meeting finally topping the list at number one cash cow recipient is boeing with one hundred thirty seven subsidies totaling a staggering thirteen billion dollars now boeing is notorious for holding jobs hostage while states fight each other for its contracts this thirteen billion dollars in handouts reflects the amazing deals lucky boeing has clearly made with states like washington and south carolina keep in mind that boeing is the number who provider for america's military machine which i don't think is an industry that deserves financial breaks guys the subsidies in this report are often in the form of tax abatement under which underscores exactly how much burden falls on average taxpayers because many of these massive corporations are relying on government

hey, alcoa took a jump up in the 11 to 12 range. do you think it has any room to run?think in this market, alcoa can go to ten very easily, but i want you to buy it when it gets there. marlene in nevada, please, marlene? >> caller: hi, jim. >> hi, marlene. >> caller: i'm calling about wendy's. i love the stock but it just doesn't seem to be going anywhere. >> we have a terrible market now. wendy's reported a great quarter, doing everything right, the chart looks bad, that's in control, goes to eight. let's go to carol in illinois. carol? >> caller: yes, i'm wondering what you think of baidu. >> sell, sell, sell. >> way too hard to own these chinese stocks with the slowdown. we want to be in the tried and true names right here. larry in tennessee. larry? >> caller: is this j.j. cramer? >> yes, it is. >> caller: hey, jim, thanks for all you do for us. >> much appreciated. >> caller: i wanted to talk to you today about lyb. >> they reported a terrific quarter, it yields a little bit more than three. this is one where i know they just reported. i think it's absolutely terr

>> i sold alcoa. if i watched it pop. i could have clipped it around $12. with the market selling off, if the world is worried about global growth and growth here, alcoa is going to be sold off. >> where did you get in on this trade? >> around 11.15. i sold it around 11.30. i didn't want to turn a paper profit into a real loss. and it closed lower. i was right to do that one. i trimmed t-mobile and sprint. >> why? >> i trimmed it -- >> before the spike. >> right before the damn spike we saw intraday. >> watch your mouth. >> s.e.c. is worried about this deal. for me, i clipped there about 10% in t-mobile. and much more than that in sprint. i didn't want to get greedy. we know what happens to pigs. >> yes. >> right? >> yes. they get slaughtered. i never knew how that ended. >> pigs get greedy. they get slugterred. >> i wanted to lock in profits for me. the market was waiting for the ecb tomorrow. that was the next catalyst. or the fear for shorts to get in the way of the market run. i think the market turns lower. >>> sea world, finding itself in deep waters.

alcoa do have one other smelter in the torilla, and refining operations in western australia. cut them to 1.7 million tons. the same time, they are building a new smelter in saudi arabia, which will be the lowest cost smelter in the world. >> let us get it back to the markets. rio tinto, out with these numbers. a lot of that was down to cost cutting. the mining investment boom in australia is on the decline. this is playing out when it comes to other industries. there have been negatives. minds.d indeed shutdown -- mines. that affects what is happening in other industries, specifically those who make industrial clothing. off by 12%, falling the most in three years. this company provides industrial clothing and gear for those who work in construction facilities, mining facilities. fewer minds means fewer miners, which means fewer people buying this kind of industrial clothing. coca-cola is another company declining, off six percent. it is a beverage maker which has pretty much confirmed the worst years for investors this morning, when they released their full-year earnings, say

rescue workers in its alcoa we are searching for survivors after the birth of an auditory and collapsed at least eight people died more than ninety four injured authorities say he loove caved in under the weight of snow in resort in turn get above five hundred students from a college in cosatu inside the building you are attending an event to welcome freshman. one attendee said they were listening to a concert by having some plane came down. that is from pacific rim countries have been negotiating a free trade deal for months. some twenty years. the talks aren't going as smoothly as many had helped. i didn't see the joins us now from that isn't as good morning night you think falling the stocks what's taking so long it can to some had said that they wanted to wrap up the talks by the end of last year that obviously didn't happen of new treaty a lot of it is about you know what's what should be taxed on what shouldn't be taxed while trey to go see this from japan are reportedly preparing to soften their stance on some hacker called two items they consider to be secret they've been deadlo

in the industrial parts of the economy where there is huge assets that they have to put together-- alcoa comes to mind. the economic profits for it aren't as high so i try to stick to more of the money managery kinds of stocks--your starbucks, your mcdonalds--that have high return on their assets and high profitability measures. > >matt thanks for being on our show today. > >you're welcome angie. that's a wrap for today. as always feel free to follow us on facebook and twitter or send us an email. we look forward to hearing from you. from all of us at first business, thank you for watching! >> announcer: the following is a paid advertisement for armando montelongo live events. you're about to meet a man that can change your future now. he is america's top real-estate investing expert, he has been featured on the number-one real-estate hit reality show, "flip this house," and is a best-selling author. he is the most sought-out real-estate expert in the world and has changed thousands of people's financial futures. you now have the opportunity to spend time learning armando's money-making

the alcoa of the strike ballot as well as issues of secure or take the questions surrounding russia has been caught in a new tunes record on democracy and human rights up in undermining the president's attempts to use the olympics to improve russia's in it they also have a bio start to obtain a run then use that come out saw that study and in north london the dock strike out the plates hostel for eleven years up to joining come into my mind in the latino to fall it's my death toll was four hundred and twenty three appearances for the club. the statue which was owned by or on phone lookup direct sun can skyrocket takes the time in a premier league match against new cost we know it is in two thousand and three. this time she positioned outside the emirates died in suicide was also lost no money to private chapel and onto the console that semites tony adams ninety every hammering that time. score one hundred and twenty dollars also i once sat on my to try feast for the club. he was a member of the cycle invincible was table of two thousand and three to two thousand and four which won the p

an alcoa has called on the football was scheduled to drop it on to text him and his quintet will go a celebration and insists his day the anti semitic albright says. it's controversial french comic to utah my mom out on the palm of another holocaust and all and a friend of the male cop is responsible for inventing a popular on seeing the students at it this month did all my heart to visit the site to stop its support for an hour. how about the impact was able to find him from end to the country on grounds of psyche. a number of senior officials of chris's aunt did on many of these textures including french president francois lot of friends into me in the midst of my mule files with life overcoming a mock up of a kid on my house repeatedly controlling confronts for high speed. so throughout this country so cruel blow to sometimes doesn't get this didn't need it and counseling and nine to one school. alice heard some are believed to be the oldest known survivor of the holocaust has died in london at the age of one hundred ten an accomplished pianist she was along with her husband and he

boeing, alcoa, hewlett-packard, these are big companies doing well. >> big moves, right?very day on your stock investment? that is a great gain. hewlett-packard up 1.84%. most of the day we had 29 out of 30 dow components in the green. liz: walgreen looking booed. >> wall green and cvs are looking good. walgreens, 5.7% to the up side. david:, hackneyed phrase but bellwether. you look at fedex and think that is bellwether for the connie. that is doing extremely well. >> they're doing more. up three bucks for fedex. [closing bell ringing] david: the bells are ringing on wall street. boy, what a day. we're off the highs. we were above 200. but we're now trading at 187. that is nothing to sneeze at at you will. all the indices are up. russell 2000 didn't quite make it into the 1% jump range. it is doing quite well. all the indexes. you're looking around, liz for areas that did poorly today, you can't find any. liz: janet yellen hit that page. david: they like what they heard. liz: they sure did. the new fed chair janet yellen making her first appearance before congress since

go back to steel and go back to alcoa got sued by the government in 1940s. microsoft, airlines.you allow companies to merge and become more efficient and prices come down. that is what you will continue to see in entertainment. melissa: well, i mean the real question what are any of these guys going to do? talk to a young person today, as soon as they set up a apartment doesn't get cable any longer. doesn't matter when we're talking about comcast or time warner cable. they get apple tv and netflix. why would i bother? that is the real problem. how will they overcome that, jared? >> i think it is, here's the thing, like i said in the beginning, i think cable companies will be pipelines, conduits for information. companies like skyworks will benefit. why? because they're building huge or helping to build the infrastructure, wireless and data structure in the u.s. both time warner and comcast i don't think their stocks you want to own for the long term. melissa: is this something you would buy? >> disney is at a new 52-week high, melissa. that is certainly on my list. industries ch

alcoa will close its unprofitable plant in southeast australia.ducer set -- producer set it is unsustainable. the closures will reduce capacity by five percent and will result in the loss of 1000 jobs. welcome back to "countdown." i am mark barton. get minutes from the bank of england meeting from early. the next guest said after the publication, the rope toward, policymakers -- the report, the policymakers will try to justify. let's welcome richard jeffrey. good morning. joining us.r another policymaker has spoken. he spoke to us yesterday. to havethe economy has more spare capacity than the bank of england's main population has shown. they said the capacity is 1%-1.5% of gdp stop it shows a greater debate going on within the bank of england on this specific matter. >> i think spare capacity is a difficult concept in economics. it is rather nebulous. i would not want to put policy on estimates. what's in bank of england did say is just about everything and the economy is taken by surprise. the strength of the economy and the pace of which unemplo

back in those days when you and i started out we were always talking about general motors and alcoa,t any longer. we talk about amazon, we're talking about facebook, about twitter, apple, all of the -- i think that the u.s. economy has almost completely shifted, changed totally in the years since you and i started out those years ago. >> it absolutely has, stuart. everyone is looking for growth. where is the growth. and that's why we've seen such a strong one in technology. i would argue the strength that we saw at the end of the year and 2013 in tech was justified. it was very different than you saw in the 1990's where you had, you know, dot-comes rising so much in market value and even though they didn't have revenue growth and they didn't, certainly didn't have earnings behind them. you know, this selloff that we've been seeing these last couple of weeks this year, so far in 2014, i would say, you have to expect it. i mean, we're coming off of a phenomenal year for stocks in 2013. you have a slowdown happening across the emerging markets. with the exception probably of mexico, mex

a cola -- alcoa is cutting a others which will mean 1000 job losses. qantas continue to rise.g is rising. politicians are debating what form that aid would take. >> three former barclays traders have been charged and the u.k. in connection with the global investigation in fixing rates. the latest twist in the libor scandal. is right. wide ranging investigation. in $6 already resulted billion in fines and civil penalties and criminal pros and the united states and the u.k. they are running concurrently. they are charging three former barclays employees with intention to commit fraud according to the complaint. peoplegs the number of to more than one dozen. it is the interbank rate. it is used so widely across the world, currency rates, mortgage rates. even though ordinary people may not have heard what it is libor rate really is. the three individual charged with conspiracy to defraud. they are peter charles johnson. jonathan matthews. contuglas. conspiring to defraud. we have had former employees at ubs and citigroup charged with fraud. the u.s. has leveled eight separate char

so then the question is what is the best way of doing it, meaning, you know, alcoa we most effectively use that money to meet the goals that i certainly agree with you. i am all on board. we won any housing command system to have equitable access and affordability. you know, i am fully on board. the question is how we do that most effectively, and i would, you know, it is a matter a reasonable debate. we have to think about this more carefully. no strong conclusions, but i would argue that a fund that has direct subsidy would be much more effective in accomplishing what we want to accomplish then housing affordability goals. the housing for illegals, once you make calls like that the gate. these guys will be met, and they're not going to give you an effective result. and so if you -- if we have direct control of the subsidy we are providing for manufactured housing, rousing, rental, all the things that we want to do, that we will be able to do it much more effectively. the final thing i'll say is in the future housing finance system undermost, strikes, the only exception being nothing

alcoa one of my legacies at the end of my four years as commissioner will be that we put the agency's in a more solid and sustainable funding level. this concludes my statement, and i'm happy to take questions. >> thank you very much. let me start to question process in my opening statement and mentioned the issue about responding to the questions that people have. you just mentioned 40 percent of the calls went unanswered. and as we have this oversight hearing and we talk about how you spend the money i want to pursue how you make decisions in terms of priority. in other words, where the you decide to spend money and where do you decide you're not able to spend money when you have limited resources? by the way, this subcommittee oversees about 30 different agencies. your agency receives the largest amount of money. in fact, it receives more than half of all the money we are allocated to distribute to these agencies. so we have to make decisions in terms of priority, who is spending money wisely and do is not. you obviously have leeway to make those decisions it seems to me that one o

with floor i daition of years so alcoa can get rich.page of the "new york morning, a billionaire's so-called isriotic given, this jennifer steinhower writing thet david rubenstein, expansive reach of rubenstein into the public life of the national's capital can be seen from his downtown office at the that heequity firm cofounded and that made him a billionaire, across the street the national archives, a new him which he after bought for 23 million is on loan.ent your way to the earthquake damaged washington monument which will reopen this a $15 million repair, paid for by to theensteen, then zip john f. kennedy center for the performing arts where his 75 million has bought, among new pipe organ. end up at the national zoo where baobao frolicked in the panda habitat mr. rubenstein endowed, part of a $7 million gift. he stands nearly alone in shoring up institutions generally under the purview of the federal government, about 200 million of the 300 million away has been what he calls patriotic giving. this is a little bit of the "new arti

. >> alcoa 1.5%. really doesn't matter.e people -- >> 100%. >> suddenly you have unlimited firepower and international distribution and you have a company who were very prominent people shorting it telling you it was breaking down and co coca-cola deny care. >> brian is talking much more broadly about being a remarkable industry transformation. >> people don't like to carry 12 packs of coke to their car, that's all i said, right, jim? >> it's not a big deal for them. i think they wanted to -- if soda stream was cutting into the business this would pretty much end that. this is a company that was -- green mountain was a one-dimensional company and now they're a two-dimensional company. they felt that the whole process was peaking and suddenly they have no short whatsoever so they have to really cover it. they will come on. the shorts will come and say the trends were bad in coffee. every time i've seen coca-cola make an investment the company changed forever. stop thinking of it was a coffee company and start thinking of it

deal for that, this is what comments have been saying about the truck market and first and foremost alcoae cheapst. >> cummings is up almost 2% this morning. >> despite they're a very big china play and we're concerned about china. but europe is coming back for truck, united states a giant truck market. there's a big upgrade coming frr truck because of the epa. pa car is the winner. i have to admit paccar is the one i wish i owned now. >> the cms stuff came out on friday. >> to the close. >> it's complicated so it might be worth explaining what's going on here. it was a year ago that we got, remember, a real scare, then there was some scanned ld in washington. >> it leaked. people are looking for a minus 8 cut in the medicare advantage proposals. that is a preliminary. in april we get the final. and i think in april what you're going to find is that humana was ripe to be up this much. i'm not going to disadpree with the rally in humana. truck market look out. this swrun of the most important hirers in america. >> amazing how much we end up talking about the transportation of goods whether