tv Markets Now FOX Business January 17, 2014 1:00pm-3:01pm EST
as mortgage rates rose. pete flynn on what the mortgage business slump means for his online housing market play. ashley: registering your presence by using your phone. it is called the beginning and it is taking the retail world by storm. everything you need to know about the location tracking device as apple gets into the game. lots of snooping stories today but first let's get to the market, stocks mixed on wall street. let's head to the stock exchange where nicole petallides is standing by. nicole: if everyone is now been around a stock exchange they would see the dow jones industrials up 58 points, the nasdaq and the s&p are pulling back today. we are seeing a gain for the week on the dow jones industrials, good move out there, we are up 1/3%, economic news has been mixed, however you interpret it. housing starts dropped 10%, but surpassed nalyst estimate and above the levels of the summer.
that is good news, right? industrial production came in line and we saw consumer sentiment swept of a little bit. american express, visa and exxon leading the way on the dow and keeping an eye on ups. shares have been down, the company warned 2013 numbers are going to be a little weak. they did handle record amounts of packages ahead of christmas it was after christmas that the company hit their margins, had a slew of borders, tried to keep up and face tough weather conditions. 1.5% for ups. ashley: thank you. lori: is not just ubs, elizabeth arden, soda stream, lulu lemon, game stop among companies cutting their earnings forecasts. negative sentiment crazy high on wall street, 96 companies on the s&p 500 issue here earnings outlooks for the fourth quarter. they are well below wall street
consensus. corporate america at its most pessimistic level ever. david lucks is managing director at stifle nicholas. market watch had this great title, warnings that record high so they are asking is corporate america and its most pessimistic level ever or our executives just pushing the envelope on those lower strategies? >> thanks for having me. i think it is a combination of both. there was a lot of pessimism about the quarter but coming in because we had a lot of structural issues going on in the fourth quarter, very short holiday shopping season. everyone knows there was one weekend missing between thanksgiving and christmas. a big weather impact. look and non-farm payroll mess we had a few weeks ago that was sitting there talking about the weather. continued d.c. no one knows if these guys are going to get along or if we will be hit the debt ceiling of the budget deal, all those barriers sneaked past us and the catering concerns,
there are a lot of reasons for companies to have angst. it is easy to lower the bar. as you mention 10 of 11 of the pronouncements last quarter for this earnings season have just been negative. that is an all-time record and something we have seen consistently over the last 6 to 8 reporting periods, everyone talking the st. john meeting lower expectations and earnings by the news. lori: the eyebrow raising story with ubs is wall street was taken off guard, you mentioned structural changes. i wonder if you can work in to the idea the reality that people are shopping online, ups had to hire something like 30,000 additional temporary workers and had to cut their forecasts, their margins were hurt by those extra costs and they were not anticipating that. >> that has been going on around the holiday season for a long time.
pointing and clicking, easier know you will get decent deal and a lot of places, this was something we have been saying consistently. shopper track who have 60,000 such points in malls across the united states face an online sales increased two times sales and a lot of these brick and mortar places and this has been a big phenomena and. amazon bumping up against the $400 level fedex will outperform ubs today and has been because of that relationship so we have been seeing this trend accelerating more and more and i think the short holiday shopping season gave a little extra boost. lori: some of the disappointing reports, goldman sachs, a industries, i got up early with don imus thissmorning, it was a blast but i am paying for it now. does that portend what could be a weaker earnings season for the quarter overall? >> it is going to be a weaker earnings season, i am seeing
that across a variety of industries whether it is financial services or transportation, because of coal shipments goldman sachs, the retail industry, we need to remember earnings are backward looking. this happened at the end of last year and we have tremendous momentum building up for the economy going forward and a lot of optimism. retail sentiment a couple weeks ago retail sentiment measured by the aye aye aye aye survey was at a three year high and the market reversed. the market will do whatever -- we have been seeing this sentiment off to a degree, we see this pessimism buildup in the market, but a lot of the different tale winds whether the bank of japan money printing or interest rates breaking in the direction nobody set up for lower at this point in time, a lot of tailwind for a rally to continue in 2014. cheryl: a great set up as we buckled down for a busy two weeks of earnings reports.
in the meantime we will see you again soon. dennis: we are following the latest developments in the retail data breaches and they are getting bigger. joline kent has the details. >> cyber security firm intel has uncovered six on going to tax at merchants across the country, the credit card processing system, with the same malicious software from some 40 million credit cards at target. intel crawler based in el aide described the software is an expensive and off the shelf calling it black p o x which could stand for point of service. the first and second point of sales blocked by the virus, australia, canada and the u.s. and separately we are learning the attack on neiman-marcus started in july and wasn't fully contained until this past sunday. luxury retailer hadn't disclosed how many customers were affected by the breach. as for target the company will send representatives to testify
before the house commerce committee your next month and shares hit a 52 week low in today's session. trey lori: president obama making his first formal response the outcry following the nsa document weeks claiming work has begun to of the america's intelligent practices and bringing about a response from others in washington. rich edson is live at the white house with more. rich: the president picks this process of the next couple months continuing to develop a plan by talking to folks in the administration, national security agency, attorney general and congress. one of the more concrete steps the president announced is one that would require government officials to go to a court to obtain any information from that bulk data, all that data phone companies collected by the government that tells you which numbers are calling which numbers, something the president did announce but pushed everything off to another
review. as the administration unfolds with a new approach the president did talk about the way the government was conducting itself and defended the nsa. >> the men and women of the intelligence community including the nsa consistently follow protocol designed to protect the privacy of ordinary people. they are not abusing authority is to listen to your private phone calls or read your e-mails. when mistakes are made, which is inevitable in any large and complicated human enterprise they correct those mistakes. dennis: critics voiced their concerns about what the president announced today. rand paul saying, quote, i am encouraged the president is addressing the nsa spying program because of pressure from congress and the american people i am disappointed in the details. he joined the number of other lawmakers on capitol hill who want to see more privacy protections from the administration, a proposal that will develop over the next
couple months. ashley: a closer look at today's economic data, housing starts falling 10% to an annual rate of 999,000, still above economist's expectations and a big enough gain to give builders their best year since 2007. new home construction jumping 18% for all of 2013. lori: watson isn't the only when getting a billion dollar boost, big blue is investing $2.4 billion to its clout services to reach new clients and markets. ibm plans to build 15 new data centers worldwide. the company expects the market to grow to $200 billion by 2020. ibm shares up $1.50. ashley: turning to the commodities market, fox business contributor phil flynn of price futures group, gold among the standouts still on track for a
weekly drop. jeff: it is knocking on the doors of the top and it may take out those weekly highs right now and a lot of momentum today, you had fed officials today talking this economy may need more stimulus, that comes a day after christine legarde warned xerox about the possibility, heating up the market but what has been really heating up the market is the incredible physical demand in this market. shanghai gold delivery doubled from a year ago and up dramatically as demand in asia t in the united states. the gold supply hit a record low so somebody's buying gold, may not be the investors but the physical demand is going crazy. the other thing is other precious-metals, silver jumping up right now and platinum and palladium, possibility of another strike in south africa that could tighten supplies and we are already worried about a
supply deficit in both of those commodities right now. ashley: oil prices rising after the highest level in a couple weeks. what is the main reason? phil: opec talking out of both sides of their mouth. on one and opec is saying we are pumping the lease will since 2011 and and the next day they come out with a report saying they think the demand for their oil is going up. that lack of production and those concerns driving that market but watch the high spread that is coming dramatically this week. people like getting back out of it but the brent coming backed down, north sea production back in libyan oil back in the global market. ashley: good stuff. have a great weekend, thanks so much. lori: suppose they sold and i phone and nobody came. china operators, close starting stores. ashley: turning or twitter feed
into a shopping mall that will allow you to buy goods directly through the 140 characters spot. lori: google i.t. over this, smart contact lens that could make a light sugar monitoring for diabetics far less invasive. ♪ [ male announcer ] evenore impressive than the research this man has at his disposal is how he puts it to work for his clients. morng. morning. thanks for meeting so early. co on in. [ male annncer ] it's how edward jones makes sense of investing. legs, for crossing. feet...splashing.
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lori: apple's latest model, the iphone's latest model finally available for china's biggest global carrier, china mobile customers able to get a hold of the devices in apple's lawyers. both companies received more than a million pre orders but reports indicate the ins for launch was muted, only a dozen customers, 12 reportedly showing up at a store in beijing with some blame expensive packages on apple shares sliding 1% or $7.51. ashley: from china to japan nintendo joining the list of companies cutting earnings forecast the company cutting its estimate to a third of its
initial holiday projections. nintendo's we struggled to keep up to the newly released x box 1, sony's play station 4 dominating the council market. the machines making up the majority of video game consoles sales in december which rose by 30% year over year. lori: nicole petallides on the floor of the stock exchange. nicole: general electric and intel. there are concerns about the margin. they did come out with their numbers, stock down 2% at $26.50, they had a better than expected rise in revenue, they saw strength in jet engines, trying to move away to a certain extent away from finance in particular from the financial sector and return to the industrial side, industrial manufacturing. great 2003 for gee. intel, here is a look at intel, we have been watching a lukewarm
forecast for revenue going forward down 3.3% after returning sitting at $25.64 of the earnings were mixed, a good way to say it and over the past year shares 10%. lori: thanks. ashley: twitter shares jumped 4%, stock gets a buy rating from steeple nicholas. twitter is the most powerful and destructive social media platform and it comes as the company is looking to shake up another sector, retail, twitter reportedly reaching the deal with the company that processes credit-card payments, the deal will allow users to make purchases directly to their twitter feet into will mean big bucks for twitter which right now only has three sources of revenue. ashley: walmart defending itself against tax byre subsidies low-paid workers, let's get to elizabeth macdonald.
ashley: the first real-estate window shopping, ceo pete flint will be right here joining us to talk about real-estate and slumping mortgage demand impacting the company's housing prices. lori: look at the winners and losers on the dow, the index up 40 points with laggers outweighing the winners. back after this. tdd#: 1-800-345-2550 trading inspires your life. tdd#: 1-800-345-2550 life inspires your trading. tdd#: 1-800-345-2550 where others see fads... tdd#: 1-800-345-2550 ...you see opportuties. tdd#: 1-800-345-2550 at schwae're here to help tdd#: 1-800-345-2550 turn inspiration into action. tdd#: 1-800-345-2550 we have intuitive platforms tdd#: 1-800-345-2550 to help you discover what's trending. tdd#: 1-800-345-2550 and seasoned market experts to help sharpen your instincts. tdd#: 1-800-345-2550 so you can take charge tdd#: 1-800-345-2550 of your trading.
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>> 21 minutes past the hour your fox news minute. u.s. defense officials telling fox news washington has agreed to send arms to iraq. that nation is growing more desperate in its fight against the resurgence of how violent militants. iraq's prime minister made an urgent request for the united states to provide new weapons and training to be backed terrorists. the syrian government is proposing a cease-fire with opposition sources, that war has been going on for two years. the assad regime is willing to hand over the team this for a prisoner exchange. those proposals ahead of international peace conference in geneva set for next week and french president francois hollande paying the first lady of is it for the first time since she was hospitalized, she checked herself into treatment
after reports surfaced of a possible fare between the french leader and a french actress. new report surfacing today that francois hollande's affair lasted two years. now back to ashley and lori. lori: got to love the french. two years. ashley: it is the french, what can you say? lori: searching for a home on line? websites make it easier to look through listings and do neighborhood research without leaving the comfort of your home. ashley: with mortgage lending hitting another rough patch how much does that impact the digital real-estate business? for more we are joined by the ceo of truelibya. thanks for being here in person. a lot of people use these sites but when we see housing data weakened does that impact the business? >> still fairly early on in the
cyclical nature common coming from such a low in 2008-2009 housing market still growing although it will not be growing as much as it did in 2013 so still growing nicely. the position we are in the market, $24 billion market, and significant amount of that has been offline coming online common coming to mobile devices where consumers are so still a tailwind in the shift on line and off line and the housing market continues to get better. lori: does the fact that the mortgage market is softening we had big bank earnings, goldman sachs, jpmorgan and a common thread, the mortgage business again softened and it was a weak link for each of those institutions. does the fact that people have a tougher time getting mortgages and interest rates slowly creep up does that way on your business at all? >> it is principally the refund market has dried up.
markets are on the upswing and the originations are softening a little bit but we see 2014 big year for the banks focusing on originations. and looking for purchases and where do you come from? we have a thriving mortgage business for the top banks with the audience of $35 million, and to get in front of them and sell the mortgage so we are in a good position. ashley: the key to your business is getting potential buyer or seller in touch with agents and everyone else connected with the real-estate business how do you do that and how successful have you been? >> the majority of our business has been helping consumers contract professionals, a suite of tools, principally marketing, connecting agents with prospective quote but they should be 5 do you -- do agents pay you to be part of your marketing? >> they do. they pay $200 a month to be part
of our service, tens of thousands of real-estate professionals. a return investment. >> more than one. why so many apps? >> this is the fascinating thing with the industry, the mobile industry turned upside down. consumers are on the go, looking at open houses, seeing in front of them the listings, the photos and able to contact so the majority of consumers engagement is in mobile devices and so we have -- android tablets, everything is -- lori: you have a lot of competitors out there? consolidation in your space here? >> consolidation on the audience, we have grown dramatically on audience, we acquired a company called market leader which is a leader by
software tools and real-estate professionals. i expect there will be continued consolidation, such a massive opportunity driven by technology and leading player in the market we want to be the forefront of that. lori: pete finch, the ceo of julia. ashley: the benefits of tracking your every move. retailers, event planners and public transit turning to the beacon. lori: when you don't feel like being on the move why not lounge? small business startup turned into one of the fastest growing furniture companies in the country. the best -- [ male announcer ] this is the story of the little room
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lori: stocks now, some economic data and a lot of earnings news for investors to chew on today. head to the floor of the for example. nicole, looking at financials today? >> i am, indeed. what i'm talking about here is two financially related type names. both of which are hitting some 52-week highs. so, i don't have morgan stanley here for a second. so you have to bring that up for you. morgan stanley hit a new high today of 33.52. up over 4% a moment ago. they came out with numbers. earnings from wealth management grew 79% that was big news there. legal costs did hit their numbers, overall profit. but as i noted you saw gains in wealth management. there is american express. american express are also hitting a new high? go ahead and pull up american express here. that hit a new high of 93.62. so over the last 52 weeks,
american express up over 44%. that certainly has been a stellar performer as well. and hey, it is worth noting nott american express is facing minute maul exposure to data breach at target stores over u.s. holiday season which hit some americans. back to you. ashley: lori, thank you very much. and nicole. lori: what did i do? ashley: just sitting there. good job. it is a little piece of tech that could make very big waves in the future. so big companies like apple, qualcomm, paypal are all investing in its development. they're called beacons. they can track everywhere you're going. roger kay is end point technologies president. he has the expert analysis why this device is so important. thank you for joining us. welcome. how does this technology exactly work. >> right, ashley, we've got things that are called beacons, small, cheap devices, 5 or $10
each. you lose bluetooth low energy. they don't use much power and receive a signal and transmit bits of information back and forth. what it is it technically, it sits on a wall, edge of a building. when you walk into a store. it recognizes your bluetooth phone. it says, oh that is customer number 42. last time he was here he bought a battery case. so we can, you know, one of those floor help can walk up to him and say, yes, hello, ashley, how is that mofi working for you? kind of a way to establish customer intimacy in a retail environment. ashley: you can follow the individual closely like a blip on a map of the store and so that person can be identified from all the other shoppers? >> right. if that person opts in of course. the person has to say yes, i will let you know who i am when i walk in the store. for example, they had this thing called geofencing a long time.
cell towers more or less where you are. you're a truck driver and a certain route, go through a geo fence. give you a phone call, by the way go back on the road. you're not supposed to be going over there. that is geo fencing. but this new idea is like proximity, when you get one foot away from one of these things. you can put them around the perimeter of your building so they mirror the shape of your building. you walk in customer is really there, if you let them know who you are they can offer you things. ashley: of course the big question, privacy here. people will not want any part of this. even though we always hear, we don't know anything about you? we don't have person mall details, in this era as we continue to hear about data breaches like target, there has to be pushback on this, right? >> well, right. if you think about it this way. say this experience works for you when you're in a mall. turn your blue tooth off when
you're in the mall. when i'm in the mall i like to be known. i like them to offer me things, knowing what i like and knowing what i already bought. i opt in the mall and turn it off the rest of the time. issue you're talking about ashley, is wider one. beacons are tip of the iceberg. your car is becoming a beacon. your house is a beacon. practically everything is talking to everything else. this question of privacy really is front and center. the only advice i give you, live an exemplary life. ashley: that's true. that's a good point. roger, how important is it for retailers out there? what kind of difference will it make to their bottom line do you think? >> i think it will help for sure. they have shown, for example, the customers that approached within a short perimeter, rather than a wide one. actually respond much more readily point of sale type ad. if you say,,oh, you know, they are looking for whatever that, bath towels, for you, we have
40% off bath towels, those offers get taken quite a large percentage of the time. turns out it actually works quite well from the retailer's perspective. ashley: can never have enough bath towels. that's all i know. roger kay, very interesting stuff. we appreciate night thank you. lori: more smart eyeware from google but this has medical benefits. they are testing a new contact lens designed to give diabetic pattent as reading of their glucose levels. it would measure glucose levels in the patient tears and make painful needle tests a thing of the past. it is still preparing for its public use. ashley: fascinating. more news on google, the first ticket driving while wearing google glass has been thrown out. a southern california woman, where es, appearing in traffic court yesterday. she faced a ticket for speeding and sporting the wearable technology while driving but the judge dismissed the case on ground there was no proof that
the device was turned on when, the driver was pulled over back in october. shares have google edging lower but hit a new all-time high earlier in the session. speeding ticket was thrown out. she got lucky. lori: exactly. speeding or not. ashley: anyway. lori: latest on the wildfires burning in the foothills northeast of los angeles. this is scary. 30% of the fire, only 30% had been contained. many william la jeunesse in glendora, california with the very latest. william? >> lori, fifth day after red flag warning. that means no fires, no camping. you're looking what happens when you ignore that warning. three men are in custody, their 20s, charged will legal setting a campfire in the angeles national forest, an accident they say, crime still held on million dollars bail. they made progress overnight with handcrews and bulldozers. they say at no time did the fire
breach containment lines. >> seems like this is july rather than january and these conditions are extremely different than what we've been, what we've seen in the past. >> five homes were destroyed, thousands saved because of overwhelming response including two dozen aircraft and super scoopers can ingest 1600 gallons of water in seconds, deliver it and cycle back for more. very effective in the unprecedented three-year drought. 2013 driest on record. 80% below normal. governor jerry brown had little choice and today he deliver ad drought emergency. >> this is effort to call to arms but we have to recognize this is not a partisan adversary. this is mother nature. >> as you can see now we have blue skies. there are some hot spots here but they expect that to get out of control as weather improves over the weekend.
the governor looking for 20% reduction in water use during the drought emergency. lori, back to you. lori: william la jeunesse, thank you. the income inequality fight, is walmart to blame? the world's largest retailer defends itself following charges that taxpayers subsidized its low-paid workers. ashley: to be a champion you need to dress like one even if that means pleated khakis. the real cost to look like san francisco 49ers coach jim harbaugh. lori: you want my answer to that? pleated khakis. ashley: not so good. we'll be right back. ♪ welcome back. how is everything? there's nothing like being your own boss! and my customers are really liking your flat rate shipping. fedex one rate. really makes my life easier. maybe a promotion is in order.
>> i'm cheryl casone with your fox business brief. the labor department says november job openings jumped 1.8% to 4 million that is the most in five 1/2 years. more workers quit your jobs in november. the number increased 2% to 2.4 million. consumer sentiment flipped this month to preliminary reading of 08.4, down from the final december number of 82.5. thomson reuters university of michigan index found many lower income households were concerned about the economy and job prospects. target will open the smallest store yet, a 20,000 square foot concept, target express. "the new york times" reports the
ashley: it's the senator versus walmart. vermont independent bernie sanders not mincing words with the founders of retail giant when it comes to the fight for minimum wage. we get the bottom line. here is elizabeth macdonald. emac joins us on set. this is interesting story. >> this happened at joint economic committee on minimum wage. listen to what bernie sanders said yesterday, wow, pretty incendiary comments. >> do you think the walton family in $100 billion is in need of welfare for the middle class of this country? or do you think maybe we should raise the minimum wage so those
workers can earn a living wage or get mid cade and food stamps? >> i said incendiary, this comes after the said the walton wealth is greatest obscenities of our time they own more wealth than the bottom 40%. what he is talking about the large number of walmart workers on medicaid. don't know what percentage who are on food stamps but what is not, being fair and balanced what is often not discussed here is, what walmart gives its workers in the way of benefits, right? they give, health benefits such as free preventative care, free vac cakes. they give retiree benefits and education assistance. that is somehow gets lost in the discussion here, you know. ashley: yeah. they're always the one cited when it comes to minimum wage debates, aren't they. >> yeah. ashley: what is his beef with the walton family? just envy? >> that is an interesting point. the thing is, that we know that there has been attempts to unionize walmart.
ashley: sure. >> the thing is they are the largest private sector employer. sure the workers will be on assistance. what is his beef? >> i think to have a, it is easier to push an issue forward. the walton family has been on his radar screen for some time. this is one of a series of comments that the senator has made about the walton family. ashley: interesting stuff. elizabeth macdonald. thank you so much. >> sure. lori: let's update you on the markets now. the dow is up 52 points. jason weisberg from seaport securities from the floor of the new york stock exchange. jason, friday, wrapping up a tug-of-war week if you will for the equities markets. lion's share of s&p companies set to report earnings next week. what caught your attention? >> well, i tell you morgan stanley's numbers were pretty impressive. considering the litigation fees. you back those out. it is very impressive showing. goes to show you what happens when you're not dealing with just a huge, huge, you know,
multinational bank and more of a traditional brokerage firm. to me it's a good sign of things to come. you know, i don't know how much longer the government will keep going after these banks for their pound of flesh. we need financials to lead this market. if we continue to see earnings way they are for the most part, next week as you mentioned, lion's share of earnings for s&p, should be an exciting week. hopefully we'll finish up on a high note. lori: sound good to me. won't argue with you on that one. jason, thank you. >> thank you. ashley: pitching for jay-z's rock nation. new york yankees pitcher c.c. sabathia, joining likes of new york jets quarterback geno smith and giants wide receiver victor cruz by signing with jay-z's sports agency. the 33-year-old has three years left, three years left on his contract, what does that make me, will be represented by the group both on and off the field. lori: in other sports news, mystery around 49ers coach jim
harbaugh pants is solved. the khaki loving coach's wife called into san francisco radio station to make clear she has nothing to do with his love for pleated khakis which she buys at walmart for, eight bucks. so much for the nfl money. even better the 49ers are selling a pair of game-worn pants, no thanks. but they will cost you a little more. $500 for pleated khakis? and dirty pleated khakis? oh. ashley: come on, you know you're going to bid. lori: kidding me? from the man who said i wouldn't be buried in pleated khakis. ashley: i really wouldn't. i will stand by that statement. let's leave the khakis alone. one. fastest growing furniture companies in the country. started with an 18-year-old and a bean bag. lori: this is called love sack. i love saying love sack. this is michael bobo, one of our producers. and he has the very tough assignment.
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lori: all right. this is a new one for us ash. ashley: love it though. lori: i mean really, how could it be any worse? it all started with an idea to find a more comfortable way to watch tv or broadcast i suppose. ashley: right. lori: our next guest started this furniture company when he was 18 years old, assembling his product with anything he could find in his home. now the company is one of the fastest growing furniture stores in the country. sean nelson is the founder of, love sack. joining us to discuss what led to his success, i have to say they're pretty darn comfy. >> they kind of made us famous. that is the love sack. that is the pillow sack.
actually turns into a bed. ashley: you have the furry one.% >> this is the four are you one. these are small ones. we're famous for really big ones. ashley: these are the small ones? >> these are small ones. ashley: classic beanbags, they were not great. these are so much more comfortable. >> those are garbage. these are not beanbags at all. they're filled with chopped up foam. last a lifetime. change the covers. lori: i think i need a crain to get out. >> we sell those two too, believe it or not. lori: how much will they set me back? >> love sacks run from 2, 300 bucks to more than a thousand bucks. they are more of high-end not bean bag chairs. lori: do you customize them. >> we customize them. we have hundreds of fabrics available that is the just the beginning. ashley: not just the bean bag segment. you talk about the furniture. we have the factionals.
>> this is for tags is just small models. we didn't bring a full setup. but sackional have turned us into the fastest growing retailer in the u.s. according to furniture today. ashley: any configuration you come up with. >> there are only two pieces. we have a patent. there is a base and a side. if any number of bases and sides you can build anything you want. combine, arrange, rearrange. line them up however you like. and you can build things thaw can't even buy from typical furniture stores. you can get at home in a honda. you can, we ship it. the covers come off. they're machine washable. they're easy to make into a guest bed. with just these two pieces. lori: let me stop you here. seems for holiday shoppers takeaway mall traffic really slowed. you guys have a, you do the rooms to go big mall. >> that's right. lori: what is the challenge, you
have 40% growth rate year to year? that's fast. >> we're growing at a crazy rate. all due to sactionals business. lori: are you showroom? are you online? how are you managing consumer shopping habits. >> we're opening 10 each year going forward and but that is really driving online sales to your point. our store comp growth was 30% last year but our web comp growth is approaching 50%. it has gone crazy on the internet because this actually solves the problem of selling sofas online. ashley: what are the materials in these sacs? >> these are obviously just little models. ashley: very small. >> at least twice this big. but, no, they're made like a traditional sofa. hardwood frames. springs across the top.
they sit more comfortably than anything you buy at one of the other malls. lori: you were this 18-year-old kid throwing together stuff to make the first incarnation of these very comfy beanbags. how did you learn to make a better product? how did you do the research? >> we didn't do research. what we did is, in the first lovesac stores, we had sofa in the corner. people tried to buy the sofa as well. we said it was for decoration. got us to thinking only to shrink a sofa down like a sac is down. we shrink it down for shipping. that began a four year process. we developed them with just two key pieces. it has changed our business. it just ignited lovesac. lori: we'll check the anchor desk. ashley: same thing. design one for the anchor desk. thank you so much. thank you for being here. continued success. lori: can we keep these? >> we can work something out. ashley: nice try.
sean nelson, thank you so much. we'll hang out here. by the way, your credit cards, even more risk. cybersecurity firm uncovering new malware attacks at stores across the u.s. we'll have very much up-to-the-minute coverage just ahead. plus president obama's plan to rein in government spying. has your opinion on nsa leaker edward snowden changed as a result of all this? tweet us. we'll have your coverage on what the president is proposing. plus our panel debate. tracy byrnes and i take you through the next hour. don't go away. ♪ ♪ ♪ ♪ [ tires screech ] ewley's finds itself in a sticky situation today after recalling its new gum. [ male announcer ] stick it to the market before you get stuck.
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tracy: good afternoon, i'm tracy byrnes. ashley: i'm ashley webster. president obama announcing his plan to rein in government spying. >> the bottom line is that people around the world, regardless of their nationality, should know that the united states is not spying on ordinary people who don't threaten our
national securrty. ashley: so, has your opinion of nsa leaker edward snowden changed as a result of all of this? tweet us. we'll have your answers and full coverage what the president is proposing, plus our panel debate coming up in just seconds. >> your credit card at even more risk. a cybersecurity firm uncovers new mallware attacks across stores across the u.s. ashley: google wearing working on smart contact lenses to help diabetics. the story in tech minute. tracy: one of the country's leading investors in the wine business for our friday feature, "wine with me." all that and much more on this tgif edition of "markets now." dow is up. it's a good day. we have to talk more about them. nicole petallides on the floor of the exchange. hey, nicole? >> tracy, ashley. ashley: i was looking at the big board and looking how the nasdaq composite is one third of 1%. the s&p 500 is pulling down .2
of a percent. yet the dow is up 60. why is that? market breadth is weak, right? you have 275,000 shares to the downside. a million shares to the downside, versus 177 million. market breadth is weak. nasdaq an s&p are weak. you know why the dow is higher? american express and visa. those are the two names propping up the dow jones industrial average. if it weren't for those two names, the dow also would be in negative territory. that being said we've gotten in housing starts and building permits. building permits were a little weak. housing starts a little better than expected. it was a pullback. sentiment was a little weaker. mixed bag with earnings and the like and company news. morgan stanley and american express at new highs. ups and general electric pulling back. google all-time record highs. a lot is going on here on wall street. there is a look at morgan stanley, out with their numbers. as i noted new high, up 4%. back to you. ashley: a busy week as well.
nicole, thank you very much. president obama announcing changes to the nsa spying program in a formal speech at the white house this morning but did he go far enough? rich edson begins coverage live from the white house. rich? >> good afternoon, ashley. many changes are still to be determined. much one of the major points the president announced, he is authorizing 60-day review of these policies. he will want input from the security commune and members of congress. one of the biggest changes he announces immediately for the federal government to gain access to the metadata, point to point phone call information they have to go through a government court in order to get access to that data. the president says and officials say that the reforms involved exempting a number of foreign leaders from nsa oversight or from nsa spying. the president also took a chance to address his international critics. >> we know that the intelligence services of other countries,
including some who feigned surprise over the snowden disclosures, are constantly probing our government and private sector networks. meanwhile a number of countries including some who loudly criticized the nsa, privately acknowledge that america has special responsibilities as the world's only superpower. that our intelligence capabilities are critical to meeting these responsibilities. >> two senators pushing for more oversight in this program responded to what the president had to say. the senator saying in a quote, this is from senator mark used dal of colorado, senator ron widen, today's announcement is vindication of that activism, we look forward to working with the president and our colleagues to push forward on these reforms in the weeks and months ahead. issue is still so much of this is outstanding with a process that will take the next couple of months. back to you. ashley: rich edson, thanks so much. tracy: does your opinion of
nsa-leaker edward snowden change as a result of all this? your tweets are at the bottom of the screen. we talk with a former nsa training director and a domestic surveillance project director at the electronic privacy information center. thank you both for being with us. colonel, i want to start with you first. i worry, okay, i don't want anybody spying on my phone records but this has to interfere with terrorism and all the things that the nsa is supposed to do to protect us. >> well, tracy, that is one of the tightropes that the president has to walk and he did a pretty good job i think in his speech today outlining not only what kind of things are happening in the terrorist world, but also the kind of things that we have to watch from a privacy perspective. so when you look at it from a security standpoint, tracy, you have to see that there are certain things that we need to do both as security agency if we're talking about nsa as well as law enforcement agencies. to find that happy medium is
going to be the challenge. but he outlined some proposals that i think will allow the country to get to a point where we actually can do that with a reasonable degree of certainty that we're capturing bad guys and going after the bad guys when we but protecting privacy interests of the people of the united states. ashley: amy, let me ring you in. as the colonel just said, this is a difficult balancing act. did the president do enough to keep the balance or would you like the president to rein in nsa even more? >> it's a significant first step when you talk about the 215 tell left phony met today at that date a program which zero evidence that they prevented attacks across the world. the president made a significant decision to end that program. he made a promise to the people and we need to hold him to promise. tracy: i will turn the same question over to you.
were you happy with what you heard today or do you actually want them to back off a little bit. >> from what i heard today, tracy i thought it was a very good measured approach that takes the security concerns, legitimate security concerns into consideration. but also, helps with the legitimate privacy aspects. it also does something on the foreign side which i thought was very, very good. it probably opens the door to intelligence cooperation with intelligence agencies around the world where there have been problems as of late. ashley: amy, the old argument though isn't it, if you're not doing anything wrong you don't have anything to worry about what the nsa does. of course the libertarians and others who don't like this, i don't care, it is an invasion of my privacy but in this world, this dangerous world we live in, there has to be some form of surveillance. part of the problem is, a large majority of internet traffic goes through u.s. servers. whether you're talking domestic or foreign, there's a large or need those would argue that are for this, to monitor what goes
through on the u.s. servers. that as i say it is just reality of a fact of life, would you not agree? you. >> know i think it is even more important fact of life that when you have secrets, largely unaccountable programs that they are going to be abused. the president recognized this potential. he said they hadn't been abused. i would disagree with the president. in opinions we've seen from the fisa court we've seen them say that these programs have been abused. i think we need to make a move and the president started this move toward a more transparent surveillance, intelligence community. i think that is incredibly important. it is not a matter if you have anything to hide. it is a matter what kind of world do you want to live in. tracy: okay but to ashley's point, colonel, everything moves on wi-fi. money laundering you name it, moving over my head as we speak. the world is moving so fast, can the government keep up with it?
is that part of the problem. make i don't need to know what is happening as long as i'm confident the government has this under control. maybe a concern is that they don't? >> well, and that is a legitimate concern, tracy from a security standpoint. you're absolutely right. the in. is. a. -- the nsa had a significant challenge not only after 9/11 when all the traffic before that moved from radio waves to the internet and because of that technically nsa had some huge challenges to really overcome when it came to this whole effort, this whole surveillance issue and because they workee various things from, oh, by the way all three branches of government they were able to come up with a solution that obviously needed to be tweaked but there is still a way in which they were able to do this that, you know, so far at least has done some things to protect us but probably not nearly enough for the amount of money that has been spent on it. ashley: amy, does this give some sort of vindication to edward
snowden? does it change public opinion of him that we've gotten to this point that the president is acknowledging changes have to be made? >> i think you have to ask the public if they decided their opinion has changed. we've seen opinions shift, definitely more people empathize with him more than when he first came out which is a positive direction for the whistle blowing community. now, i mean honestly we have to, we would not be having this conversation if not for the documents and i think the conversation lies with the documents and not actually with edward snowden. we should talk about what the government is doing and not necessarily focus on the person who allowed us to have that conversation. tracy: good stuff to be talking about. colonel layton, amy, thank you both for a good conversation. ashley: interesting debate. >> a pleasure. thank you so much. ashley: well, get this, more stores hit by credit card hacks. it is etting out of control, isn't it? is your charge card safe? jo ling kent investigates next. tracy: generation gap on wall street.
why making money may not be the number one concern for generation-y workers. ashley: the latest on the exploits of french president hollande and his many ladies. tracy: i can't get enough of that. but as we do every day this time of day take a look how oil is trading. it is up slightly at $94.27 a barrel. the dow is up almost 68 points. don't go anywhere. [ me announcer ] this is the story of e sty basement at 06 35th street the old dining table at 25th and hoffman. ...and the little room above the strip mall f roble avenue. ♪ this magic momt it is the story of where every great idea begins. and of those o believed they had the power to do more. dell isonored to be part of some of the world'great stories.
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and former miliry members and their families is wiout equal. begin your legacy. get an au insurance quote. usaa. we know what it means to serve. ashley: well the cyber threat to your credit card, more stores hit by credit card hacks according to a security firm. so the question is, is your charge card safe? jo ling kent joins us with more up to the minute details. >> i spoke to the president of intel crawler which uncovered six ongoing attacks against u.s. retailers, very interesting stuff. they are basically telling fox business they uncovered not only six attacks, they identified who is behind all of this with target and neiman marcus. dan clements said, merchants credit card processing system, has been affected with a malicious software called black pos, authored by a 17-year-old located in moscow.
he is currently in st. pete's pete's. it has been used to steal 40 million credit card numbers from target. intel crawler is described as inexpensive off the shelf type mallware. the at thor is not one mo attacked target. sold it to nine individuals one they think could be responsible for target. when i asked about the likelihood of a 1-year-old getting caught, clements said he is untouchable the same way snowden is untouchable. separately we learned the attack on neiman marcus started back in july and wasn't fully contained until this past sunday. the luxury retailer has not disclosed how many customers were affected by the breach. target will send representatives to testify before the house commerce committee early next month. shares hit a 52-week low in today's session. you can see the big red arrow there. ashley: a 17-year-old kid in his bedroom in st. pete's pete's --
st. petersburg, pulled off so much data? what is he doing with the data. >> he is selling it. he is an agent. nine other individuals are tracked by intel crawler, anymore attacks they're very possible at this point. i asked him, are the governments going to cooperate to try to get this buy? magnitude of this situation is so high but it is very difficult to do that because he has been on the move, dan clemments the president of intel crawler, says in the span of his whole career he never seen anything like this. the double-whammy target, they will be fined for losing credit card numbers. if they use the credit card numbers on target.com, target also has to pay. ashley: that's right. >> it is ongoing humongous problem that will only multiply. ashley: very scary. jo ling kent. thanks. tracy: very scary. quarter past. we have to get a check on these markets. nicole petallides on the floor of the. >> change. watching big brown, huh? they can't catch a great. >> here is the problem with big
brown ups. $100.19 a share. it is up off the lows. it is moving closer to the unchanged line, that is the highs of the day though still down 1/3 of one percent. they came out and basically provided guidance that they saw weakness late in 2013 after the holidays. they got a slew of last minute orders and had to hurry to basically work on this flury of orders and in some cases weren't even able to execute. it cut into their margins. they also faced some tough weather conditions. however they did actually deliver record amount of packages during the holiday season. also the holiday season was six days shorter than in prior years. this is something. they gave outlook for 2014. they plan to stay on track for 2014 long-term goals. more numbers from them on january 30th. back to you. tracy: thank you, nicole. i don't think they took the fact that the holiday season was
shortened seriously. ashley: we talked about that but probably didn't take it as seriously. tracy: i didn't think it would be that big of a deal either. how many of you have over a million dollars in liquid assets? not me. the number may surprise you. ashley: in tech minute, has twitter earned its stripes? it is reportedly buying a company to help it compete against amazon. tracy: are you the taxpayer subsidizing low paid walmart workers? elizabeth macdonald is up next. she will investigate for us. the dow is up 65 points. don't go anywhere. welcome back. how is everything? there's nothing like being your own boss! and my customers are really liking your flat rate shipping. fedex one rate. really makes my life easier. maybe a promotion is in order.
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>> 21 minutes past the hour right now. hi, everybody, i'm jamie colby. this is your fox news minute. california governor jerry brown declaring a state of emergency for what he is calling the worst drought the state has seen on record. the ddy weather is partly to blame for a ferocious fire burning outside of los angeles. the police arrested three people they believe started the blaze with a illegal campfire. the associated press reporting that poach benedict defrocked 400 priests for two years over child molestation from 2011, to 2012.
those details are significant because it is the first time the vatican provided number of priests it has defrocked. the george washington bridge scandal that involved some of new jersey governor chris christie staff members, they are issuing subpoenas for 17 people and three organizations as they try to get to the bottom of who ordered those lane closures. those are the latest headlines. i'm jamie colby. back to ashley and tracy. tracy: you're a barrel of good news today. thank you so much. >> all right, guys. tracy: all right, so are you the, taxpayer, subsidizing the pay of walmart workers? independent vermont senator bern my sanddrs blasting the founding family of the discount giant. get the bottom line from elizabeth macdonald. what is he saying? they are rich they should pay up. >> he made the comments at hearing of joint economic committee. came on what he said the walton
family wealth is one of the great obscenities of our time. let's listen to what bernie sanders said the independent from vermont. >> do you think the walton family worth $100 billion is need of welfare from the middle class in this country or do you think we should raise the minimum wage so those workers raise living wage an not get medicaid or food stamps? >> this is about income inequality and raising the minimum wage, right? of workers at walmart are on medicaid. a lot get food stamps. not good numbers out there but here is walmart talking about this. here is what it says basically doing for its workers. here is the quote. for tens of thousand of people every year a job at walmart opens a door to better life, competitive wages, good benefits, the chance to grow and build a career and you have a chance to go up the ladder there, toking per jobs from stocker or cashier to department manager. what is missing, what is missing in senator sanders comments are
the health benefits, are retiree benefits, is the education assistance that walmart does provide workers. ashley: they say they provide a competitive wage. is that true? >> you know in terms of being a cashier and in terms of what you would get at grocery store? ashley: yes. >> right, that is the issue. do grocery stores provide health benefits and retiree benefits? a lot of them do not. tracy: he is missing the point. what about the mom-and-pop shops? maybe walmart is different because they have cash in the proffers. the guy down the street will not be able to afford minimum wage raised because he will drop another worker. this is fight going on in the country this is midterm election fight. there is issue of these jobs where people are struggling to raise families, on many of them are jobs, retail, restaurants, retail workers. if you raise minimum wage what parts of country will get hitt maybe stores in the rust belt.
maybe silicon valley shops can handle it, i don't know. would it drop the small businesses out, down in thames of their income production? it is an interesting point to fight over. or debate over. tracy: that is a great story. thank you, lizzie. >> sure. ashley: interesting to note, walmart's walton family is from arkansas where there are over 43,000 millionaires. the annal rang eggs of millionaires shows usual suspects at top of the list, namely hawaii, new york and connecticut. marylander tops the list for third year in a row, with over 2 million, millionaire households. millionaires are those with more than one million dollars in investable assets, not including value of real estate. north dakota made the biggest move on the list jumping to 29 from 42 last year. by the closest bmw dealership to the state capital bismarck is six-hour drive. that's right, six-hour drive.
bmw knowing there is more well-healed people may think about that as place to open a showroom. why not? tracy: they all might be showing up. ashley: exactly. tracy: that is cool. we're coming up on the next half hour. so zig when they tell you to zag? when so-called experts tell you to sell treasurys, guess what? they're beating stocks this year. sandra smith ahead on why. ashley: what young workers want. with we have an expert ahead. why making money may not be the number one concern for generation-y. tracy: here is a guy making lots of money on wine. ahead on "wine with me" segment, how you make money in the wine world without getting your hands dirty in the vineyards. the dow is up 73 points. we'll be right back.
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590 minutes to close of the markets, the dow 30 for you, the market up 72%, those are the biggest laggers, deep in red day. almost $1 at $25.56 thanks to fourth quarter earnings but the chipmaker giving lukewarm forecast for the first quarter of 2014 and as a result it is bringing up the rear on the dow 30. nicole petallides on the stock exchange watching another dow component, ge. nicole: in the negative territory, take a look, down 2.6%, quarterly number problem margin falls short for 2013 hurt by delays, wind turbine deliveries, and a couple areas did well, in different areas like gentians, looking to try to
get away from the financial sector, and as we noted, the market falling short, 2648 the loss is 2.5%. tracy: treasuries on fire, a safer bet for their money, sandra smith has more on today's trade. with a difference a year makes. >> a month you could have said that, you could have lost the%, you would have missed a 30% rally in the stock market. january and a t-bond outperform the stock market and that hasn't been the case. and 2.8%, the lowest that the yield on the tenure has been that, and when we were starting
with 30%, if we had a two year i would show you that the gap between 2 and 10 are narrowing greatly, look to the 30-year, the yield on the 30 year rate you have the 30-year treasury heading for their third weekly gain, the yield down 3.76% obviously still dropping and bonds gain more attention from the investors and what this has been corresponding with for correlating with is weaker economic news, the more weak economic data we get the more attention we see in the bond market. jeffrey lacher, in the past hour we had some comments from jeffrey lacquer saying he expects modest 2% growth, citing, quote, persistent consciousness in household spending be easier so what happens in the bond market at this point is all going to come
down to what the fed decides to do next. we need to bring that intention to everybody what the bond market has been doing so end way from us and important to acknowledge bonds outpacing stock so far in january. tracy: i always said bond traders were the smartest people in the room. ashley: credit suisse is the latest wall street firm to ease weekend working conditions for its junior bankers, changes come amid growing concern wall street is losing its ability to attract top young talent. joining us to talk about this, the director of the war in world wide integration project. thanks for joining us. generation y. seems to me every older generation looks to the younger generation and say they don't know what hard work means but i do hear about complaints that the current younger generation are not prepared to put in the time and effort it requires to get somewhere in
life. is that misinformed? >> they are expecting to work longer hours. when we compare in our study the class of 1992 to the class of 2012 in 1992 graduates in the undergraduate program were expecting to work 58 hours a week, in 2012 they are expecting to work 72 hours a week. they understand what it takes. the difference is they are seeking employment experiences that give them freedom and a greater sense of meaning and purpose in their work. that is definitely a change. ashley: you also say their expectations, how far they rise in the company of dropped. >> we saw a drop in exactly that. how high in a company's hierarchy people expect to go and we are not sure if that is a result of not wanting to put in what it takes to get to the top or if they just are more realistic about how far they can
go but their aspirations have gone down a bit in terms of their rise up the ladder and they have decreased in terms of their family aspirations, so the big finding in our study comparing class of '92 to the class of 2012 i wrote about in a book called baby bust, new choices for men and women in work and family was how many of them plan to have children, do you plan to adopt children? yes, probably, not sure, probably not and no. in 199270% said yes. in 2012 only 42% said yes. ashley: absolutely fascinating. what is interesting, what you said right off the top, if not for the pursuit for the almighty dollar, they are not as focused on money. is that just young idealism? will that change over the years or do you believe that is the
mindset? >> we have seen a shift in the cultural values of people coming into the business world today. there is a huge growth in interest in having a positive social impact. if you look at what we are doing at wharton in our social impact work there is a huge expansion of the number of initiatives that we are undertaking and students are clamoring for more and more opportunities to do well and do good. ashley: is that why, he did put it this way, why wall street is having a hard time finding the next generation of industry leaders? >> great question. wall street and other industries are looking to reshape their employment brand. you have to demonstrate you have to give an opportunity to young person not only to develop their
talents and to grow in terms of their future capacity but also make a meaningful contribution to the world. the companies that do that will be more successful in the labour market. ashley: we are out of time. thank you so much. appreciate it. tracy: they learned watching their parents work themselves to death, they missed everything. wine with me segment, private equity can teach you how to make money these days. ashley: twitter shares higher on word it is moving into ecommerce. ♪ ♪ [ male announcer ] you're watching one of the biggest financial services cpanies in the country at work. hey. thanks for coming over. hey. [ male annouer ] how did it come to be?
>> i am jo lin king click your fox business brief. stocks jumped 24% of wood, and $43 billion in start-ups in the final quarter of last year. up from $6.95 billion in 2012 the fourth quarter. the online pin board received the most money in the quarter $225 million. ibm plans to invest $1.2 billion, the company will go 15 new data centers around the world to reach new clients. the global market is expected to grow by 2020.
tracy: to our favorite series wine with me, freezing greens, with the new york malign market being the largest a world that is a lot of money to be made out there a different angle, one private equity firm has made a name for itself by focusing on those with code vineyards, the ones that are on the rise. co-founder and managing partner of bacchus capital management peter kaufman. so glad you are here, might have seen you other times, to stress investment banking as well. i like to quit your day job you devoe = to both.
>> 100%. tracy: if only 200% and hours available in the day. you're distressed investment banker and one day you and a bunch of bodies a let's start investing? >> it wasn't quite like that. my partner at investment bank were doing some work for the boston family. tracy: seagram family. >> my lifelong closest friend, winery's, and we have to buy some wineries at san's investment banker and getting grossly overbid by strategics paying rent outrages evaluations and there's an interest somewhere so we develop baucus capital which was primarily at that point focus on providing second lien loans be neat evaluation and we had to carve out money that we raised to take control of private equity
positions and that is where the sweet spot has been, partnership with iconic winemakers controlling the winery, freeing winemakers. tracy: you make them fit this guy. >> mostly controlled private equity. tracy: do you get involved in the day-to-day activities? >> absolutely not. if it is a problem might get involved but we have sam and our whined team on a day-to-day basis. tracy: silent partners essentially. >> we are coaches. when there are issues we are helpful in the sale of marketing on the branding side and direct the consumer which is one of the most exciting areas in wine. tracy: specially vineyards coming up the brink. you have palmer said don't lot about the financing. >> these are bright people. they would rather focus on making great wine and we try to take care of the west. we have four iconic winemakers
on the west coast, in california and washington. i brought some bobble along to show you. tracy: one of the things we will see more and more is turnover of vineyard. 50% of american wineries are expected to change ownership. really interesting the next generation, we were talking about the next generation that doesn't work as hard. >> some of them don't. these, you hear a lot about prestige winery's, billionaires' to have a winery. most of them, 95% of weiner is a family-owned business, farmers who work with the earth, artisans make these phenomenal lines and everything they have is in these businesses and so what are they going to do when they turn it over to their kids and one kids as they want -- don't want to? that is part of the reason we have been in business to provide capital to fuel those
transactions. tracy: and who are you seeing come in as the next new ownership? is it wall street? >> i don't think so. very fortunate, we have a great combination of financial acumen and hands-on longstanding line operational expertise. we think we are doing quite well but if you don't know what you are doing in the wind space you can get run over. tracy: run in the bank. bought this capital management co-founder, thanks for being here wearing your other hat today. ashley: thank you. it is a quarter till, time for a look at stocks as we do every 15 minutes. let's head to the stock exchange. our good friend joining us, an interesting week as we focus on earnings. the guidance is, earnings, the guidance doesn't agree either. >> we saw prior to earnings that the guidance was a little anemic
but the market seems to be voided if you will, and earning season and so far it has been no different this last week and in the beginning of a and clearly earnings have been a mixed bag but all in all the markets turned down pretty good performance, gained back all the losses from the first couple weeks so we are starting over again. instead of january 1st. ashley: does this hurt the possibility of retail investors who have already been sitting on the sidelines? a bit nullified right now? >> everybody is a little spoiled and for those folks on the sidelines, some indication that the market has gone a little choppy but most folks that i talked to are basically positive if not bullish about the market which is interesting. until something changes, stocks look like they want to move
higher. ashley: thank you so much. it is time for your tech minute, action that purchase, twitter set up to team with processor strike to allow users to buy goods directly through the sights, partnership would remove, redirecting consumers to a retail spike and more importantly the revenue twitter stands to bring in, right now it relies solely on ad sales, it is a big step, shares of twitter all over a bullish report from stephen nicklaus in the term initiation of coverage starting with a buy rating and says the $75 price target up nearly 3% today. see full analysts saying, quote, twitter is the most powerful, flexible and disruptive of the social media platforms. good news to bad news, nintendo calling it sweet you a flop,
partner sales healing to reach year end targets pushing get to a third consecutive annual loss. it has just not cut its global sales forecast for the we you buy 70%. competition from smart phones and tablets detonating sales. not to mention huge franchise titles like grand theft auto boosting play station and x box sales. forget can you hear me now? it is can you see me now? everyone will be saying google testing does not contact lens built to measure glucose levels in tears. uses of the tiny wireless chip and many sensors embedded between two layers of a soft lens. the goal is to help diabetics eliminate the need for the painful needle sticks to monitor sugar levels, several clinical trials have been conducted but approval from the fda not been achieved yet. shares of google hitting a 52 week high earlier today of more than 62% in the last year and if
you take blood sugar or at least track your blood sugar through a contract lens who knows where it goes next? tracy: i would love to not see him stick a needle in himself anymore. nfl networks tackle when professional football games moving back to traditional television. ashley: francois hollande finally showing up at the hospital to visit his sick girlfriend. the drama goes on. [ male announcer ] this is the story of the little room
over the pizza place on chestnut street the modest first floor bedroom in tallinn, estonia and the southbound bus barreli down i-95. ♪ this magic moment it is the story of ere every great ideaegins. and of those who believed they had thpower to do more. dell is honored to be part of some of the world's great stories. that began ch the same way ours did in a little dorm room -- 2713. ♪ this magic moment ♪
thursday night. what is up? >> they have a lock on alters a night games, it has been good for the nfl, 8 million viewers on average, a top rated cable show every thursday night but now football incumbents reporting cbs and fox submitted a bid, espn's sister channel abc. here's what knowledgeable sources are telling me, there is a nightline, short-term package, only last year or two and starts 2014, six to eight games for sale, the nfl network keeps the rest but the games may expand from 13 to 14 games 7-7 and i am told the nfl network may insist on simulcasting the thursday night games carried by the winning bidder. that would see the cut down on the value of the package. back in the fall, netflix and google's youtube bidding on a thursday night package the debt that doesn't happen at least not in this new deal. if the thursday night games are so great for nfl network why
give up any games at all to the other guys? one reason is more money more money more money. the thursday night-and let the nfl network with a good slot on the cable dial carried in 72 million homes and justify charging cable systems $1.34 per month per home second only to disney's espn and all of cable. nfl has locked in those fees so gets at about half of the package to a new bidder and bringing in more pork from the pig iron. tracy: just what you are looking forward to. brought together, we will stick with that. was a better line. ashley: below frantz sounds like a tv movie but it is so true. french president francois hollande visiting his girlfriend when she was admitted to hospital. this amid reports that francois hollande having an affair with
an actor's including allegations this has been going on for two years. it is france, french magazine which first reported be a fair all week ago says the couple made use of he second apartment. . reports claim they went on weekend break in the south of france. pn a news conference earlier this week francois hollande did not confirm or deny the reports of an affair. french politics has been like this forever. makes for good fodder but it is just like. at least he got to see his girlfriend. first girlfriend i guess you'd call that. coming up on "countdown to the closing bell," our russian hackers behind the attack on target and what can u.s. companies and their customers to to protect themselves? exposing china's involvement in hacking american targets, and whether we are all at risk and
the president's proposal on u.s. buying. don't go anywhere. be right back. like, really big. then expanded? ♪ or their new product tanked? ♪ or not? what if they embrace new technology instead? ♪ imagine a company's future with the future of trading. company profile. a research tool on thinkorswim. from td ameritrade. there's nothing like being your own boss! and my customers are really liking your flat rate shipping. fedex one rate. really makes my life easier. maybe a promotion is in order. good news. i got a new title. and a raise? management couldn't make that happen. [ male announcer ] introducing fedex one rate.
>> can you hear me now? ceo john mallinger saying to his competitors and critics, praising the stakes and media attention with another pr campaign that sticks it to his rivals and makes t mobile a more attractive takeover target in the process. this as the twitterverse goes crazy for ledger's new offers. hack attack, was russia really breach and our own u.s. companies nearly sitting ducks? we talked to one of the top security guys in the world who worked inside the pentagon, always called out china next o list. returning to a movie theater near you, films that are now
nominated for oscars. what does the nomination and a second box office run really mean for the big movie studios and their stock? we have all the numbers. "countdown to the closing bell" starts now. good afternoon. i am liz claman. breaking news, the last hour of trading, just got news on intel, semiconductor giant which reported earnings "after the bell" yesterday is now announcing within the last three minutes it will reduce its work force by some 5%. industry saying it will cut these jobs through attrition and layoffs. earlier the stock was anywhere from 4.5 to 4%. you see a hovering around that point at the moment down 3.5% or $0.95. when looking at what it did yesterday of reasons today has been a struggle since the stock