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tv   Countdown to the Closing Bell  FOX Business  September 18, 2012 3:00pm-4:00pm EDT

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liz: the last hour of trading count down to the closing bell begins right now. 64% swing, and federal express cutting its forecast. they do that when you see different winds on the horizon and economy of concern. that is weighing on stock and we have a new survey on homebuilder sentiment and homebuilders feel about the next few weeks and
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months. and rising to a six year high and counterbalancing negativity hitting the markets. and a number below 50 doesn't mean better news for some people to watch. homebuilder stocks back in the red after getting a brief jump following the survey's release. $1 million in a social network. not facebook. talking about a social network for the private equity. really big money. and the venture capitalists believe this will twins tyler and cameron winklevoss investing -- and the winklevoss from the social network movie and the big book situation. and all the details coming.
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talking to them about wealthy guides are young and optimistic. what matters to them? corporate tax rates? we try to get that thought about what is in their minds before they invest in big companies. let's get to robert gray on bank of america. continue this story. people cannot access a website. robert: i have had intermittent success in getting into bank of america's website. it is subject of denial of service on that web site. a group claiming to be allied with muslims taking responsibility for the attacks here and anger over american what they called zionism and the recent film that mocks islam. they offered links to contribute to a tax on bank of america and the new york stock exchange's web site. the group used a site called payspan used by hacking groups looking to publicize cyberattacks. they have not seen the destruction. was just on the web site.
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no trouble getting on. bank of america has not commented. we have reached out to them for comment. no way to verify whether they are islamic or not but nonetheless the site has been under attack and i have had intimate and success getting on in the past two minutes. >> it is a widely held dow component down 1-1/4% and we will interrupt with any more news on this developing story. oil is down. the markets are down but not that much. we are climbing back to the flat line so the dow jones industrials but what is at work when it comes to your money? to the floor show we have traders at the stock exchange. here in studio ben willis but let's get to caddy on the stock exchange. we have been saying at the top of the program's 64 point swing for the dow jones industrials. there are other things you are looking at that grab your attention as well. >> in terms of the arrogance and
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most of the damage that we have seen has been in the energy sector which reflect the sharp drop in oil over the last couple days but on the positive side there are interesting things going on in a lot of low-priced stocks and percentage moves. stocks would not be on a lot of folks's radar screen in the pharmaceutical area and the tech arianna and as i chatted with one longtime trader who for many years was down here trading and reminded me when you come from low-priced stocks we are close to the end of the beginning so that remains to be seen but there are some dramatic moves going away from the more popular names leading the averages for the last couple months. liz: interesting swings in lesser traded stocks. let's see if anything out there at the cme and some weakness and continuing in oil. cannot ignore that.
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in the 4:00 hour eastern time we have the commodity futures trading commission your coming up. into that big trade, >> it is day 2 of the jewish holiday. you lost yesterday a tremendous amount of the population. and the conservative strand coming in now so it will be a more normal day. as for what you watch for the past two days everybody looking at the energy markets. it is and algorithm trade. there's a rumor out, and thinking of releasing reserves. algorithms pick up on that and away you go. and these things are not happening.
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that is the negative of this high frequency trade and looking for what is going to happen. not what it is run through. liz: mary schapiro, the security and exchange commission, with us from the cftc, and algorithms. let me get to the nymex. is that what's your assessment is of what happened and keeping it current what the you think of the action today? >> it is a move on low-volume, being an algorithm there's a lot here. computers doing the trading and not much thought goes into it. it is on its own and a jewish holiday yesterday, low volume and big moves.
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liz: i don't know about you. and those working on the second day, let's bring -- [talking over each other] and the volume is important to point out. what is going on with the market's? and we will get to that later what about this moment? >> what the market bounced against the resistance level and starting to tire out. moving sideways for another direction. to make the viewers understand the idea of algorithm trading, everybody's right. you have commentary out of opec, it started in the brent market, and the commentary supposedly a rumor from obama and that gets carried and computers that can read 250,000 words a second.
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they started to break down. and was a bad thing. it just was a reaction to the news that it had and the fact of the matter is there were fewer people on the trading pits and they did it. and it's much sharper reaction. liz: we want to thank our traders for four of us, sandy is not happy with this. how does the number two million sound you? that is, the i phone 5s of been ordered so shares of apple climbed past $700 a share this morning. staying there by $0.75. let's shake it up with the team. our future guests, from the
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trading floor. and it is an important benchmark. do we continue -- >> it is all about those i
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how the other kris cox in the 700 club. google text that in 2007 but in the financial crisis it dropped to 262. it has returned earlier this month and is back above but priceline has $700 but it is not returned above that level and still remains below. >> look at the price to earnings for apple and forward numbers don't look that expensive. what do you think? >> i have been watching fedex and their shipping those apple iphones and i got a note today. if you want to buy it, triple the price and give me a call. when you look at the analyst from j. p. morgan chase talking about the fact that sales of my
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phone 5s that at 1/4% to gdp and fedex came out with not such great earnings reports and could get a bump from deliveries of i phone 5 and one analyst, saying it would help and microsoft windows 8 coming out. all of this will help. not enough to help fedex in the long term. they are facing more serious problems with the slowing global economy. watch apple break 700. liz: we got to close. that is the question. do we close their? does it -- >> it doesn't mean a lot, the forward earnings number, 17 times earnings. apple in the group of the dot.com and that idea, only as far as the value investors go to
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meet the standards. back in the day we used to talk about walmart and the ratio on walmart. this is a real company with real products and not concerned about social media. liz: shot by it today, seven seventy-five cents. >> and said can dollars a share to produce this little thing you can put music on and microsoft is not going to work so you don't want to listen to me. >> the many ipad coming out, don't forget any of that. liz: easy to forget apple tv. talking about that for a while but it might be a game change. >> and october as well. [talking over each other] liz: only person on the planet who hasn't had an iphone. closing bell ringing in 48 minutes.
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of coming of the winklevoss twins just invested $1 million of their money that they got a settlement. what do they think faces a good investment. and what do they want to hear? coming up when we speak to cameron and tyler winklevoss live in studio and business partner. want to try to crack it? yeah, that's the way to do it!
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liz: dow agenda industrials was positive and nicole petallides on the floor of the stock exchange watching the market straddled a flat line. we have jeff flock at the cme. jeff: it is to me first because you are talking about oil. that is what they're talking about. not a lot of action on the floor in positive territory in terms of the cme. the only ones back in the meet it. that was all that was the because grains were down the first oil, yesterday's huge drop
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of. the cftc investigating but no definitive reason. will come down to a combination of factors but oil pulling back another dollar today. maybe just a bearish time. not just oil but gasoline too also down. grains in the tank but not as bad as yesterday. yesterday was sell-off in the grains, soybeans down the limit caused some people to have margin calls and sell oil to get out and that set a cascade of events of. as good a guess as anything but grains were down on a positive harvest two days will be on a farm. we will show you what the harvest looks like. liz: go back to the meet its. [talking over each other] liz: sort of a market it there. >> let's take a look at some of the retailers. this is the day i am seeing a lot of down arrows.
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not a dramatic move but the banking index is lower and the dow is down four points. let's look at polls and bed bath and beyond. you can see best buy -- looking at bed bath and beyond, kohl's is hiring 52,000 workers for the holiday season. they are anticipating more sales in stores and more sales online so kohl's is waiting for good news and hiring 41 associates per store. that is the 4% increase year over year. take a look at that bat and beyond. oppenheimer cutting them to perform from and outperforming and talking about why are they doing this downgrade saying in the near term they see the consistent meaningful sales numbers pulling back and earnings potential waning. >> walking with the intention to buy two things and come out with 20 but that is why you carry the coupons. you know you all do that and you
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save those coupons. here is the question. with all the negative headlines and we have asked this many times could the broader market that had a beautiful run up be due for a pullback soon. let's bring back supertrader ben willis. that is the question. if we look at dow levels and this is the 1-year pictured as a nice year for the dow jones industrials. the s&p up double-digit percentages bose year-to-date and year over year. you say it is time for a pullback but the word should comes in to play. the market should do this but will it? >> i thought it would do it sooner but we have had the hot wind effective you will. not on profs but on the equity markets led by the central bank's. mario draghi had the most significant impact and if you look at the chart you will see moves when the central bank started to drive us higher. we started this pull back in june and then we started this
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climb. what i have been saying is it is healthy for a market the way i used the same analogy if you want to help the rosebush you can prune it every once in awhile. this is a time for an investor. traders trade on this minutia every day. if you are an investor you need to look for times when stocks go on sale and do that pullback because that is when you step in. liz: let's get to the isn't he 500 because that is the question by how much should we see an essen people back? >> a healthy pullback is 3%. a significant pullback would be the 5% range. we are talking around 1400, 1377. for those trying -- [talking over each other] >> extrapolate on the dow. 9 points for every s&p number to the dow. the a equivalent of 13,000 on the dow. there would be -- it would be helpful for the overall market.
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most strategists levels already for the year. we still have obviously three months to go. i would see the market reset itself given entrance points to those investors to come back. liz: it was ben bernanke has specifically said while back everyone looking at europe that you should be looking at china. problem with a slowdown in china is you're not sure about the data so you pick one dated point you like to look at that is a better indicator of whether a market is falling more coming back. >> fundamentals. basis of any market place. iron ore shipments are great indicator if you look how the charts have moved and you see the move and this is recovering and we see a pickup. liz: this is iron ore from australia. >> it is a great example of an economy being able to export itself to another nation. china took all it could get in terms of iron ore to build and create steel. that sought a major at this time
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last year iron ore trading at $180 a metric ton and it is now 87 or $90. [talking over each other] liz: a nice move to the upside. >> starting to see green shoots if you will. you we are seeing some recovery from the steel side. some indications the people's bank of china is ready to stimulate the economy and that is what it is showing. liz: 37 minutes before the closing bell. never knew you had to watch iron ore but give you clues and that is why we bring freighters like ben willis here. when we come back with have the famed winklevoss twins who some say they camel with the original concept that became facebook. they are here live. they are investing their settlement with facebook. find out who's getting the first million dollars and what the new winklevoss capital firm wants to hear from investor pitches. got to listen to these guys. [ owner ] i need to expand
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cheryl: what if i told you 264 companies on the s&p pay dividends that are higher than the yield on the 10-year treasury? there are some names from the comanager believes will be the next big dividend player yet joining us from boston to show how she identifies with those companies and will name a few. that is kind of a stunning statistic. 406 s&p 500 companies pay dividends, that is the highest level since 1999. what is up suddenly found religion paying money back to the shareholders? sylvia: i think you are seeing a change in corporate management, capital policy, which we think is a great thing for long-term oriented investors.
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i do think something managements see it can create a substantial amount of value particularly when you can compound the dividends over time and show nice growth in them. cheryl: you have a criteria of how can i get to the next big dividend players, so let's get to some of them. the number one criteria am that matters when it comes to trying to identify the next stock that will really pay out well and perform decently. >> there are a couple different things you want to look for in terms of not only who can be the next big dividend player, but who can sustain the dividend overtime because that is an important criteria that you want to look for. the number one thing to look at is the cash flow the business generates. can they cover the dividend over time, didn't have enough left over to turn it to you? i would also look at the balance sheet to make sure they're in a good financial position look ing
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the characteristics of the business in terms of how sustainable and durable is the business. they don't want to invest in sort of a declining player in an industry that might cut the dividend down the road. management behavior is also important. a management team willing to return the cash flow they have to you in terms of a dividend. cheryl: give us the four criteria that should be red flagged putting up a warning, some of them are obvious, but i like this one. sponging the dividend by taking on debt. have you seen that a lot lately? that would certainly be worrisome, you're not supposed to do that. >> is depends on the company. there are companies that have a great balance sheet able to access the capital markets at historically low rates and that is not necessarily a bad thing. that can be a pretty good thing.
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where you would be worried is thaifthey cannot fund the dividd through the cash flow, they already have a lot of financial leverage compromising the financial health of the business. delivering up to continue to pay. cheryl: we would name the ones who have identified as the next big thing cycling through these, i will name them, phillip morris seems obvious, but h you think this will be increased 3.8% dividend. 4.3%, pfizer 3.8%, accenture 2%, so your belief is they will hike the dividend, we will see the dividend, we will see growth on these names. >> if you look at the characteristics of all these companies, they generate a substantial amount of cash flow. they've done a great job return the cash to shareholders and they all have pretty good track record of growing the dividend and the double-digit range the
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last couple of years and i think there is gooreason to think that can continue. cheryl: interesting. climbing back up to the high. thank you for teaching us some really important investments as we always try t tried to do than fox business. we don't just assume everybody understands how to do this, so we appreciate it. thank you so much, we will see you next time. now we're positive for the dow jones industrials the only major index that is actually moving higher. you may know this name, the winkle bost wins. the fight with the facebook ceo mark zuckerberg years ago led to a settlement for the twins, but they're here today to talk about what they're doing with that settlement money. they're putting money into new social network for private equity and hedge fund managers. you have to be accepted before you have the privilege of paying
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cheryl: let's get back to the breaking news story, more of it on bank of america. what is the latest? >> bank of america telling fox business that some customers may experience occasional slowness, they're working to ensure full availability. other channels are obviously available. they would not directly comment on the attack itself saying we continuously take proactive measures to secure our systems. bank of america the subject of a denial service attack on its
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website, a group claiming to be allied with muslims taking responsibility for the attack. they claim the recent film that mocks islam, they also posted links on a site used by hacking groups to solicit bank of america and new york stock exchange. the new york stock exchange has had no apparent introductions at their website. the stock is bouncing off of the lows of the session and bank of america little change. cheryl: nicole at the new york stock exchange. nicole: if you think there is push and pull on the market today, you're absolutely right. you have fedex, a weak outlook. back-and-forth, back-and-forth, how many times do think it worked? how about 67 times that this market went back and forth on the unchanged mark. back to you.
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cheryl: thank you very much. the name winkl winkevoss, the ts that fought zuckerberg. they just made their first $1 million investment in the investors social network. joining us now, the winklevoss twins. your college buddies at harvard, right? >> right. cheryl: now you get to be the first with a put you their money into the company. what turned him onto that company? >> i used to work at a hedge fund and realized there was no easy mechanism investors could reach out to one another and trade notes. i decided to create a network consisting of hedge fund analyst: mutual fund analyst, every member has to apply to gain access.
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to maintain a certain level of quality. they get access which others insights, very important because you're an analyst at a fund, the person you want to reach out to the most will be another analyst who also has money behind the position and has done a lot of fundamental research and we make that very easy to do. cheryl: it is very interesting when there's a pile of money and you're looking at places. aside from ephedra both good friends. that doesn't hurt, but does not help with the idea isn't good. what did you love about how this monecompany can make money. >> we look for truly unique companies and we think it is such a company. really the only alternative research out there. that was a big point for us as well as of course the entrepreneur.
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obviously you want to pick a good horse, but we feel betting on the jockey in the long-term is one of the best approac apprs because things change. that was a no-brainer for us. cheryl: when you look at exactly what it was, also kind of a barrier when it comes to who can be allowed to come on this site, correct? very exclusive, isn't it? >> there is a product for everybody on this site. cheryl: a free product? >> right. cheryl: so who is coming onto this thing? >> anybody can sign up for the newsletter. they can come in and continue. cheryl: $129 per month for the expensive side of it, what do you get? >> look at the highest-rated ideas and we e-mail the authors that we want to feature and we
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ask them if it is okay to feature their research on this product. cheryl: do they usually say yes question are >> i almost always say yes. cheryl: there is so much junk out there, and there are bad ideas. >> there are multiple components. yet duke applied to gain access. if applied to gain access and i look at each application. what is nice is the community itself polices everyone within the community. our members can rate each other on multiple metrics. and we us used those various metrics and ratings to come up with an overall rating for each idea. cheryl: how much money do you have to invest? what else will be out there? >> we don't really speak to that issue specifically. it is something we don't really address. but look at other companies, our goal is to really bring
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resources in terms of capital but also roll up our sleeves and be operational. we will be on the ground helping his team pushed the ball forward just like we are right now. cheryl: let me ask with 30,000-foot question hovering above right now, you ar you're , you're young, what matters to you right now? the corporate tax rates, are you thinking about gee, i would like to create jobs with his next company? what is in your mind? >> more immediate with what we are doing, we took out 5000 square feet and we're looking to bring portfolio companies that we can help day today. but also give them the environment to build and grow. it is hard to tell where you are going to be in six months to a year.
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to go through the process of a lease and funnier place to find a home can be a big distraction. cheryl: does the current climate, a lot of negativity, does that affect you and way undermined at all? i don't know what will happen with the fiscal cliff, trying to get a read on if we think much about that when guys like you are looking for good ideas to invest in. >> we're thinking of the task at hand. we have other issues to worry about, mountains to climb, larger global economic macro situations. but i think there is a value proposition, in the end i think it will work out despite who is in office and who is not. cheryl: all three of you are well known originally because of the characters based upon you from "the social network" movie. my personal take was you guys had the idea. that was mine. other people may think differently. but if things had turned out
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differently and you had control, what would be different about facebook right now? you want the company obviously to do well. what would be different in the form that it is in? every time i asked tyler a question, you defer to cameron. >> you have to accept it as a business and you want to be a business because you want revenue to make a better product for your users. there has been too much rhetoric about it not being a business. i don't think wall street likes that. i think being proud of the fact you're trying to build a great product and a business go hand in hand because you can't have a great product without the resources to plow back into it. being okay with that, excepting that is perfectly fine. i think there's a lot to tyler's point that we're just focused on the user experience in the bottom line is very important. cheryl: monetizing, we keep on
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hearing that word, but in the end he wants to see facebook too well, correct? >> we think it is a valuable product. it has its place. i'm happy to see it succeed, for sure. cheryl: good to see all of you. thanks to tyler and cameron winklevoss. they're looking for good ideas. everyone with a good, viable business that makes money. 60 minutes before the hour. we have expert trader before the break clinging to the upset of the dow jones industrial. spending most of his days on the floor of the new york stock exchange, but he traded in his jacket just for today to tell you what are the best and worst sectors to be invested in right now. the traders know. stay tuned, coming up.
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cheryl: yeah, he is an expert trader. here in the studio with some of his favorite and least favorite sector picks right now. energy. that is pretty broad. which part of it and why? >> have a lot of friends that have been trading for a long time, but for the investor to take a look at the master limited partnerships, that is an area getting a lot of press, not such positive press.
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they want to look at those that have been in the game. talking bout how important it is. similar to real estate investment trusts as well. they pay out big dividends, that is dua the whole purpose of what they do. integrated oil, cannot talk with its visual stocks -- individual stocks, but i like the downstream providers as well like gasoline refiners as well. important thing to know is oil companies and the likes downstream don't need $100 per barrel to be profitable. they can make a lot of profit out of a lot less. don't let the price of oil, we see those are under pressure, you want to buy when everybody else is selling. cheryl: please remember that, do not run with the crowd. this is another sector that you
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like. that might be a bit dangerous. >> it is. we had this discussion earlier, i have seen the rotation into what we call the higher beta stocks by the investors in the market right now. most of the money flow going out of equities so those staying in a rotating out of some of the other more traditional safe havens into material stocks. those with the precious metals stocks, the rare earth stocks, they're very volatile, difficult, one of the things you should have on your shopping list when they go on sale. cheryl: the ones he does not like, utilities, telecom or out of favor at the moment, but the reasons on the facebook page. so good to have you on the show. i like seeing you on the floor because you are moving and grooving, right on every little story. good to see you.
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>> thank you. cheryl: ben willis, comanager. the closing bell ringing in seven minutes. find me on twitter. and you can follow the show, see what guests we have coming up, what they said in case you missed it. we'll tell you about the one stock taking a step down for a second day in a row. stay tuned. [ male announcer ] what if you had thermal night-vision goggles,
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concerned about ugg boots sales. this tends to be a volatile stock, not a surprise some 30% of the float is shorted for deckers outdoors. hoping it will go down. it is today, down about 8%. one great product release or some celebrities spotted wearing pink uggs and the sales go through the roof. a market still with some red on the screen. we're heading into the bell, so let's go to david asman. david: it is like the market sometimes it's an animal. a wild week and it has to rest, take a breath. as you can see, not much moving but individual stocks are moving. nicole petallides at the new york stock exchange and talk about fedex because they beat expectations, but they have a lot of warnings about the future
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weighing heavily on the stock today. nicole: another warning for fedex, a tough global economy not seen the manufacturers making things and shipping. you put the two things together and that makes a tough day for fedex and ups as well. cheryl: it was all about apple, crossing $700 per-share mark, just slightly above it, let's take a look. nicole: it is so fun to be an apple shareholder. above 701 today. and the iphone 5 breaking records in pre-orders. david: rim had a good day. talk of some software, so blackberry has a future of some kind, the stock was up. nicole: the truth is microsoft has been trying to make some deals on the patents they are

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