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tv   Countdown to the Closing Bell  FOX Business  January 8, 2014 3:00pm-4:01pm EST

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and south just about everything is all about to see the hottest of technology. so many ceos feel that consumer electronics show in lowe's looks like the detroit auto show also has the started to take over some of the halo effect which is not even in and tell a couple of weeks from now? because so many cars would to be connected. remote talk to our audience america presidents a fox business an exclusive. laser headlights it is cool. live from consumer electronics show we have incredible names but his fox business exclusive c. olivetti sadr city parts have finally completed the merger with general parts
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international. the c $082 billion of castile and notes up 53% it creates the largest auto parts company but it is first of fox business. this is a tiny telecom -- television company but guess what? they may be less expensive but they say we don't want this to be cheaply made. we have a very rare interview that they feel their televisions could come and weigh less expensive sam sam song -- samsung of the world. here is a first of fox business interview with the brand new ceo elect of qualcomm. they started to make chips for mobile and it smart phones intel is trying to
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catch up but have not caught benghazi. the new ceo of call, will speak to our viewers first. watching the numbers slightly flat and slightly down stake above the flat line because we also have the fed minutes and this is what we have learned to. no blockbuster but it appears most of the members felt the tapering the fed has put into place two years ago to stimulate the economy , they started scaling back 2014 of course, they did at the end of 2013 most voting members feel the tapering process should end by the end of 2014. the economy continues to grow at a moderate pace.
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also information from atp with a separate jobs report for private sector to begin at two under 30,000. as far as numbers are concerned it did not help but much but another sign that perhaps the economy is finding more stable footing. we have stable footing right here at audi. to this is the laser light to they call it that because the lights are made of lasers. absolutely a huge attention span i want to introduce you president of audi of america isn't tell us about the laser light. >> the laser lights is something extremely cool it is the next phase of lasers.
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what you have inside that housing is a laser beam. liz: tell me about five i am. >> per minute high be lighting will not distract the driver or oncoming traffic. liz: everybody is taking pictures. more expensive than the basic headlamp? >> better technology but it is dramatically better technology. liz: taillights? >> no. just the headlights the we are lights are the lcd. liz: phenomenal. you are the competing company but the connected
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car is just a huge trend. here at the consumer electronics show what does audi have that is different? >> this will be launched in the u.s. market this year and gets confidence for another record year. the big news is at&t points to activity inside the car. seven times faster than the best 3g. what you need is a connected car that needs space. that is what it gets us inside the vehicle. liz: you have to deal with global. >> we have done with them for a long time we read the first to have google earth earth, the maps, appointed interest inside the car now with the android getting more popular re-signed a partnership with them to make sure proper integration with software on the phone and in the car. liz: dc today where consumer
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electronics show is equally important as the detroit auto show? this is what people want. smart phone on real. >> that is a fair statement i think they want the best car in the world which is audi that integrates with the smart phone but electronics are becoming more and more prevalent with automobiles. we were born of the first ones year and we see the value. liz: what america moves it will have a dramatic impact.
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and i like most people's business model bought discounting. we see growth for audi and the industry as well. liz: almost with the top the bottom of the company. also will supply and demand new should not forget in a. estimate that as my behalf pricing. liz: 35 consecutive records of sales. congratulations. audi is a great story. over fox business exclusive with those glaser headlights. you look so good in that.
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>> you are a good friend to and i love audi i have a big fan of those cars. thank you very much. i can see you driving that back to new york city. talking about this at the top of them looking at the market's up and down day we learned a few moments ago that the fomc members agree improvement of the job market indicated the fed it could begin to slow the pace of asset purchases. a few members actually thought it would be appropriate to end the program even earlier. we also learn to that alan mulally told us a few weeks ago that what he said is true. he will stay at ford not heading to microsoft. that was big news but the
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stock is rising on that news looking at the stock right now it continues to be higher. microsoft to the downside for a lot of pressure to find a new ceo. they thought they would have won by the end of 2013 but that has not happened. these are big stories we are watching today. now "markets now" reacting to those minutes let's head to our floor show we have traders at new york stock exchange and chicago mercantile exchange. what we saw in the minutes was taper timing. they said it would be inappropriate to reduce the pace but it seems they're more apt to end the program altogether. what do you make of the minutes today? >> most people seem to think we are accelerating economically. fed members seem to grow more and more comfortable.
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so that is encouraging to me. in the past every betty expected volatility after the minutes but right now after this meeting people think we will look silly but i think campbell the graduated approach which is what they said from the get-go they want to start off cautiously but if the economy continues to pick up speed and then probably be will continue on a force by the end of the year. also note today is the end of the first five trading days of the year. people look how the lead for the future it will be negative almost half a percent by the end of the day. this is your does not have to be down but long-term studies have shown the year is less robust when the first five-- are negative
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and that is the case for the sp and the nasdaq and the dow. cheryl: that is true. let's go over to the cme. also the big labor department report coming up in their forecast the overall estimates put the fed talks about the labor participation rate. there is a long discourse in the minutes from what they say is important in the weakness behind it is where the debate kicks in. what do you make of that? >> ic we lost his audio. so maybe you don't want to new talk about the fed. so let's discuss the natural
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gas a tuition i was surprised we have not seen more considering all the bad weather that we have had. >> it is anticipation of better weather to come. i know how to gear that as well. there is a lot of natural gas out there depending on delivery where that mechanism comes and. as far as the whole complex coming crude has taken a beating. looking at the curve for june through december with the strip we are down below $90. if you are refiner or the end user to accumulate beryl's. a lot of people are talking but if we do get $88 that is the ground level and going forward into the new year into the summer there is too many variables or
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geopolitical situation since to come up to be a short. if i was hedging and would start the second half of 2014 right now. cheryl: gentleman thank you. we did have camera trouble but the closing bell bill of rain in 47 minutes. after another financial penalty will jpmorgan cut jaime dimon bonus or will he have a big payday? we have exclusive details on that story coming up. advance of a parts the largest auto parts real taylor in north america. we will talk to the company's ceo as a fox business exclusive. why rifles are trying to steal his crown. we will be right back. ♪
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>> could j.p. morgan's steel jaime dimon still be in for a big payday despite being in the news for the wrong reasons? charlie gasparino has details to the decision by
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the board of directors but we get this from insiders who have an idea that safety will get a bonus last year i a belief it was the 50 percent pay cap. that that is where she is right now. but any way be looked at it with insiders are saying it should be above last year's level. the jpmorgan would argue that a lot of this betti inherited, his legacy, they paid to the london find last year then they will report earnings despite all this
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2013 year record earnings at like $18 billion. that is what he did 2011, 2012, that number should be higher this year according to jpmorgan insiders. it is a board decision. for all i know investor activists go crazy then they get cold feet but they say he will get a bigger bonus this year likely. cheryl: for weathering the storm. >> yes. when they report earnings that is the reason. cheryl: covering technology in las vegas fox business exclusively reporting and a wealth was looking to buy business insiders. water the details? >> for people who don't know business insider is a pretty edgy website covering technology from a starter doug by an old friend of
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mine they held talks and a reporter brooke astor last week earlier in the week they held discussions you could call them early stage for a well was interested to buy them but the price was 100 million bryce sound like "austin powers". [laughter] with the did million dollars. they have been buying content. that fits into the notion of content eyeballs to the web site and to produce high and advertising but this thing called catch like a nylon dash like the local newspaper. i used to be a reporter in westchester. used to work for weekly
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newspapers but they're all god. not done so well but tim armstrong is out today on another business network where breyer index went out to ask about our story. he did not deny it. cheryl: there you go. breaking news it is interesting whether it happens or not hendry is on the record saying he was not shopping. that is interesting terminology. cheryl: did somebody offered you $100 million. >> but i think he wants more his it was over the 100 million plus but it is nice to have
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the rookie reporter being followed. >> and fox business be back that happens every day. >> we have could reporters here. cheryl: good to see you. we're sitting on session lows right now. look at dow jones industrial average down 108 points we do have some back-and-forth but now we see a little sell-off. there were different discussions with other labor participation rates, more disagreement among fed members as they adjust all of that. we have 38 minutes to go so we shall see. the ceo of the nation's largest auto parts provider of nato sales of $9 billion. we will speak with advanced autoparts seal about his recently completed acquisition of general partners international of "fox business exclusive."
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qualcomm has participated including the shift for mobile we will speak with the incoming ceo about the next biggest thing in technology with first one dash first of fox business with the loss vegas consumer electronics show be right back. ♪
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>> one of the many different companies that are here oversteering is ecosystem as for the future but they hire of tiny little cars represented. automobiles will always be there for us. here is a question. if your car breaks down what will you do? new parts to fix the existing one or by a new car? the question really matters to my next guest. "fox business exclusive" ceo
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of petraeus autoparts darren jackson after his brand new acquisitions general pars international the largest auto parts company in america is year exclusively to talked about how this merger will make them leaders globally. what do hope this does for advanced autoparts? >> this means a lot. probably first-ever for roast we stay focused on serving our customers. it is a privilege to briard excited to be the largest in the industry with $95 billion. more importantly, getting focused there being the best and serving our customers. liz: net was of the currency move, a $2 billion of cash deal that becomes official right now. we need some details. what changes? you have a great business model but what helps you to
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keep that position? >> certainly this gives the largest position in the industry and many ways to grow. we also acquired a business called world pact. collectively those to allow us to change the profile of the customers we serve. instead of 60 percent retail and 40% commercial, though we are a business now 55% commercial, a 45% retell predict gives local ways to grow domestic market in and import liz: does a do-it-yourself market was big during the recession because some people did not have money to buy cars so is a counter intuitive because perhaps people will start to buy a
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new car? how do expect that will affect gm's auto parts coming forward it? >> we always need new cars coming into the pipeline. 2013 came to a close with 15 million new units coming in but there is to a hundred 40 million "on the road." when we step back we like to see a robust car market because five or six years out flow into our sweet spot today that is over six years old is as large as it has been in history also with pent-up demand for maintenance weekend to lester tobias number recorded. so there are more new car sales but there are many cars out there over 240 million that will lead
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service that we be there to service customers. liz: from data number of one the stock has jumped more than 35% the stock itself is up 57%. what you delivered to investors? will there be layoffs from this merger? >> this is the way we thought about a. principally it will be the growth of the topline certainly there will be a lot of scale synergy with purchasing and supply chain refers to foremost when we bought general parties of the ability to expand our commercial capabilities. we did not buy general parts with a view to make money is through layoffs. certainly there will be some consolidation but more importantly what the market reacted to is a deal that makes sense buying into the largest part of the industry growing twice as fast
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fast, diversifying your portfolio with a company with a proven track record. of strategy does not unfold over quarters but years. id has been a six year process to get to this process. liz: before that you read us by then nordstrom's. you are killing a. we are looking for word to ringing the bell tomorrow good luck to you. joiniig us exclusively on fox business. >> good to be with zero. liz: darren jackson say hi to the team out there. darren jackson. when we come back a name you may have seemed -- seemed. tiny televisions but they don't want to be low-quality. right here from the floor of consumer electronics show and coming up the brandon
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new ceo a lack of qualcomm. we have the "first on fox" business live from las vegas.
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consumer electronics show the dow moving off of session most a number of companies reporting earnings today we have the biggest movers today with nicole petallides at new york stock exchange.
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>> we do have some movers the dow is down now do -- and points a game we are watching to the down side was reporting of loss in the third quarter however they continue to expand and have 14 straight quarters of same-store sales of the rise then look at constellations. hitting the all-time high even be year, corona, those of the names that a going to new highs. speaking about call a new venture with the 56 week partnership with wine and spirits together. back to you. cheryl: and a big celebrity here in new york i think is really a loss vegas and that is liz claman.
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you are having all the fun. talking to all kinds of people out there. liz: we're still looking for aston culture. we have moved over toward area the chinese tv maker trying to take on the big board is as they work on the super high-quality monitors let's meet with jonathan frank to talk about hisense maybe not as familiar as samsung but this picture quality what do you want me to go? >> it is fantastic quality. hisense has been around 45 years. moving into the usa and we are here to make a mark. liz: what about panasonic, samsung, a saudi? >> very aggressive. coming out as a young company of goals set in mind did we will nonstop. liz: if people see hisense
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yourself some alerts to lower-cost? >> we don't compare yourself to anyone. we have a quality where it leads to the and the technology we will let the consumer decide. >> people want to interact with the smart phone. >> hours does everything else but about half the cost liz: and how much? been back we have not released that a gatt. >> i cannot even tell you that. liz: we will what did you can come back on the program as you develop into the united states a chinese manufacturer taking on the big boys. first john fox business interview with steve mollenkopf from qualcomm.
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>> this is a copy. we are back in the new york studio. great things coming out of the consumer electronics show before the buildings we will show you what we talked about at the top of the show look at ford. 1555 the stock is up $0.17
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and as you can see the stock is moving alan mulally pleaded end to speculation he would lead to the west of a maker for microsoft. he said no. i am staying. guess what? he repeatedly said again he is happy to continue to focus on florida has no plans to leave the company before the end of 2014 but to be fair the first time he has given a definitive the answer to the question if microsoft is his next career move. he has been a ford since 2006 largely credited with the company turned around someone who has spent on this show repeated the it looks like he will stay. the stock is up $0.16. other themes we're watching is the fed minutes and we're moving off of session lows with regards to the dow only down 74 points.
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this is a nice little turnaround in the last 15 minutes those fed minutes were crucial looking to see if there be disagreement. we know they are tapering but when will that end? is the market dash four market positive? over the last 20 minutes. that is what is happening in the york let's go back out to las vegas and liz claman. liz: it takes a couple of days to feel the trends are developing. we talked about the connected car, a television television, have tablet half telephone but one company about 10 years ago made it the most ingenious move at chip company that said when it's not get focused on the
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pc but go mobile. qualcomm was the company and now the leaders know when can't touch them yet although others are trying like intel and others. we're happy to be joined first on fox business with the new ceo elect steve mollenkopf. from microsoft everybody says you got the promotion but it was sped up to because you were considered as one of the top contenders for microsoft. why stay at qualcomm? >> i have been there 20 years. great company. great culture. i am excited about where it is going. to contribute at a higher level is exciting. this has got something not in the works in the way. we changed the timing but excited about the opportunity. liz: you talk about two decades but he began as an engineer.
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what is the process that was so long ago. there is something about you this company feels you are the best in this atmosphere with your operations. >> we have been lucky as a company to be at the right spot at the right time. we bet early on smart phones when people were thinking of the right place we were the first to work on cna and smart phones we think will lead into the adjacent businesses. for us it is the exciting opportunity at the head looks like what we figured out to solve so we think it will be a great business. liz: talk about the challenge of cracking the china phone market. your chips are in those funds but china mobile or telecom were trainable will says we use our own.
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how do you crack that market? >> we have the business in china over a decade on this shipside and licensing side. weirdo strangers to china. in fact, we're probably one of the better partners to bring not only domestic but export. liz: but it is not so easy they love to steal a base technology to use it and to make many. >> that experience we have have is one of partnership. we have been key to help them to drive the export business now to drive guilty it is the important part of the growth of the industry. liz: ltv is long-term evolution that pertains to?
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>> more in more bandwidth or dated your device. lte enables that. liz: we had your ceo now executive chairman show us this when i first came out. you dropped the of price this week. power sales. >> we did this not for business in general but to showcase technology. look at what is unique, the display is unique with low power and the ability to look at outdoor it is a big deal. liz: and until sounds serious and of course, there is arm which is a partner that you get some of your
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chips. going into the sir business are you interested to go into the sir business? >> we interested and businesses enabling us to do things for the first time. that is what we built the franchise on to abc new opportunities for us but what is happening as a result we are able to develop technology that enables us to go into more and more businesses. we have not announce anything on the sir business liz: but you would not say no? >> that capability you have to develop for a strong business with the smart phone industry is the same asset. that is good for us. liz: only the third ceo in history. the founder then it jacobs said his son paul jacobs. how will you differentiate yourself? >> when you were there 20 years your fingerprints are
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already on the place so i think it will be fairly natural. the team is familiar to me. a lot of the things you are familiar with high has been involved in. you will see the same type of things but what differentiates us is we've tried to get into new areas quickly when we need to make change and we have been successful over the last two decades and i look forward to doing that again as the company moves forward. liz: the best opportunity on the planet to expand your business. which country? >> china is important and smart phones have a lot of legs and left it that just gives us the ability to go into other businesses as well. liz: bill you continue to own the smart phone more? >> we will try very hard and we have a good track record and we will try to keep
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going. liz: brand new ceo of qualcomm. microsoft cannot have you. steve mollenkopf. good to see you. thank you for coming on fox business to tell the very interesting story. after the bout after working 20 years at qualcomm but a kid who'd taught himself how to code then sends his app to yacht go. first of fox business will talk to us about it we are developing next riopelle. headset and virtual reality talker here. first of fox business. so much to show you. we are right here for your. ♪ ♪ ♪
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david: hi, everybody, i'm david asman. the market recovered a little bit. we had a triple-digit loss on the dow moments ago. recovered a bit and still a down market. this is fourth out days of 2014 when we've seen adown market. that is not a good harbinger of things to come. go to nicole petallides at new york stock exchange. nicole, talk about the fed notes. there is not a lot of reaction to them. there was news in the fed notes that a majority of members seem to be believe that all bond buying is a will end at the end of 2014. >> bond buying program is stimulus program that as a impact it is waning. we know in the latest meeting they tapered by 10 billion and continue to do so. david: we have to toot our own horn again. taser is up big-time today. up 12% last time i noticed
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despite the down market. ryan dietrich was on here december 30th, saying buy into taser. up 12% since then, 12% just today. >> 12% today. hit a new high. we talk about electroshock smart weapons and the like. come in here. strong orders at end of 2013. we seen some firearm type companies doing well. for example, smith and wesson hit a new high. smith & wesson and stern ruger moved higher. david: good news for the stocks. not necessarily good news for society. pandora, pandora is up nicely again. >> new high ben. up over 220%. pandora at consumer electronics show in las vegas will continue to work with cars, automobile makers, and advertising and with that growth potential that is giving pandora a pop. david: we have to talk about a down stock. jcpenney is down about 8%, right? >> they're so pleased with their holiday sales.
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[closing bell ringing] they won't reveal numbers to analysts which makes analysts nervous. david: nicole petallides at new york stock exchange. thank you very much. the bells are ringing on wall street. let's look how all the stocks are finishing up. we've been worse today. still a down market t was not a good idea to four out of five days of 2014 be down, so be it. although look at this nasdaq pulling out a slight gain. all the other indexes in the red however. the dow jones industrial earlier, just about an hour ago was down triple digits. so it has recovered somewhat. looks like there are more buyers coming into the market as we go to the close. time now for the front page headlines. the latest federal reserve meeting minutes show the majority of fed policymakers did back the decision to slow down pace of asset purchase this is year when they discussed the issue last month. private employers hired the most people in 13 months in december. adp saying that companies added38,000 workers. the data coming out two days

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