tv MONEY With Melissa Francis FOX Business April 17, 2014 2:00pm-3:01pm EDT
the market is looking good. thanks so much. hashtag party on, china's answer to twitter hitting the street to rave reviews and dragging the rest of the tech world stocks with up almost 40%. how much personality is too much personality when it comes to a ceo? in an emotionally driven market why a strong personality may not always mean strong results. you have got to be joking. economist paul krugman raking in $25,000 a month to research, wait for it, income inequality. i kid you not. even when they say it is not it is always about money. all right, we have breaking news coming out of reuters. reporting illinois state attorney general investigating herbalife. let's get to charlie gasparino. have you heard about this. >> three weeks ago the fox business network that herbalife was bracing for the attorney
general investigations. the stock went down facially significantly on the report. we saw eric schneiderman, the new york attorney general and now we see illinois. i don't think the illinois attorney general is that significant. new york attorney general is very important for herbalife for one reason and one reason only. the new york attorney general has something known as the martin act. it's a law which you could essentially indict someone on a very low bar for see emtore. knowledge that you had forethought you went out and purposefully committed the crime. the bar is very low with the martin act that is important. i would say this is an add-on investigation. melissa: yeah. >> we said it first they will get this and probably going to get more because bill ackman has been out there lobbying for this with state and local politicians. melissa: as you said on the back of news that the fbi was
investigating as well. >> right. melissa: just continuing piling on. >> i really think that the new york state attorney general's investigation is much more serious than the fbi. everything i hear from the fbi, they just want to make sure they're not dealing with another madoff in this sense, not that it is equal scams. someone alerted him to something and they didn't follow up on it. okay? they don't want a madoff situation. if he goes through, if eric schneiderman goes through with the company, he has that martin act, the bar, the bar for showing, proving something is illegal is a lot lower. you do not have to show intent. ackman gave him $30,000. ackman is very big contributor to eric schneiderman. melissa: sky is starting to fall on so-called high frequency traders from the book "flash boys" from michael lewis. new york attorney general, we talked about eric schneiderman, throwing down six subpoenas to
financial trading firms on their relationshipses with exchanges. here is charlie gasparino along with "wall street journal" veronica dagher and new oak's james frischling. veronica, what do you hereof hear about this? >> we have the fbi looking into this. we are hearing a lot of people looking into the high frequency trading especially michael louis which's book. this brought it to the mind of the populace. melissa: does this amount to anything. >> i read the book. the book is one of the thinnest investigative books i ever read but -- melissa: here is what he says. high frequency traders can't do this alone. firms can engage in latency arbitrage because exchanges sell them special services that allow them to get sneak-peek at market price. seems he should go after exchanges if that is what he believes and that is what he is building. >> the book aside, this is not news what is going on to markets to a lot of folks. melissa: talk about the news now. what happens from here? >> watch mid-sized firms doing
better. big mutual fund going to their boards or defend to the boards who is getting their flows. watch opportunistic shift in the markets. >> i really believe nothing will come out of this positive. melissa: nothing positive, right. >> they are not attacking the real prop. the real problem is not high frequency traders, some of whom may or may not at times front run based on an algorithm. the problem you have 50 markets and eric schneiderman has no clue, point out one other thing. bill ackman is behind the push to go after high frequency trading as well. again the axe man-schneiderman connection. ackman has given a lot of money to schneiderman. i'm very dubious. if the sec came out tomorrow and we'll study fragmentation. we'll discuss about the fact you trade a stock it can go to 50 different markets. they have not done it. high frequency trade something a pimple. melissa: all of you stay with us. we'll head to the markets. china's answer to twitter having a big debut at nasdaq.
jo ling kent is all this for us. >> melissa, china's answer to twitter, up nicely up about 33% right now. and it is growing. but this company post ad net loss last year. it has about 144 million monthly active users, actively being censored on a lost controversial topics especially politics and the economy. this led to a drop-off in user growth and to what is much like what's app. the success for weibo, has twitter was blocked in china. week bow launched in 2009. this was about the time twitter was going mainstream. looking at the numbers on monday, weibo said 2014 first quarter revenue grew 161% from a year ago. so good news on that front. their ipo coming during a month-long pull back in stock prices for chinese tech companies and internet stocks. twitter shares has fallen about 18% since its high in march. nasdaq is down 6.5% from
all-time highs but weibo looking like it is a bellwether for other tech companies like alibaba. melissa: jo, thank you so much. i don't know if you can put the chart how it is done today. what is your reaction to this? they didn't put out as much shares as they wanted to but at the same time it is up 33% on the day so far. only trade ad few hours. what does this mean for the ipo market, james? what do you think? >> a lot of high beta names that hedge fund loaded up on were put out into the market. this is pullback in technology in general. the second thing is they lost a significant amount of their post when china came out with tighter controls. imagine if the u.s. government said we'll send peel to jail that send outfallsties over twitter, imagine what happens to a twitter stock? china censorship headwind they're dealing with although the stock is doing really well. melissa: deirdre bolton had on tim draper. he believes the pull back is about people paying taxes.
>> who is jim draper? melissa: very famous venture investor. >> shows how much i know. melissa: a lot of taxes in 2013. >> don't they pay all the time. melissa: pay their taxes every year. we don't see this -- >> mr. draper might be talking his own book. melissa: possibly but that was right out there. what do you think of this trade in weibo today? >> i think reduction in shares from the pipe ipo speaks to the fact that investors don't have so much tolerance for companies that don't yet have a profit. they want to see the proof in the pudding before they actually invest in the ipo. in terms of the share price could be your average investor. melissa: last word to charlie. >> i think mr. draper's wrong. look, people paid their taxes already. that's what happened here. thanks for have wisdom, mr. draper. melissa: you will love this next one. that is pretty hypocriiical department. new york city pay
"new york times" paul krugman a pretty generous amount to work on inequality initiative. let that sink in and think about that. krugman is receiving $225,000 for two semesters. he doesn't even have to teach. more than four times the median household income in new york city. just let me pile on a little more. the adjunct professors get approximately $3,000. he is getting a quarter of a million. other professors, top out at 116,000. taxpayer-funded. how do you feel about that? he is studying income inequality. >> i think it is great. paul krugman is not only in the 1%, he is the .00 percent. melissa: how much of a paycheck is he collecting. studying income inequality, james, what do you think? >> teach something clearly rewarding in many ways. melissa: he is not teaching. that is what so beautiful. in email this, was a letter put out by the city university. they released the email for whatever reason. perhaps i'm premature or forward
i wanted you to have no doubt we can provide a not just a platform for public interventions and stimulating economic community but also relatively comfortable perch because he is not expected to teach a really do anything. those are our taxpayer dollars at work. >> city university? melissa: city university of new york, will not be expected to teach or supervise students. >> i would say if he wasn't such a limousine liberal. was real old time hippie liberal like bill de blasio -- melissa: mayor has a mansion. >> you would think he would give the money to charity, right? melissa: let's challenge him to do that or to the government. >> we'll tell paul krugman -- melissa: walk that $225,000 right to the irs. you do that paul. >> comrade bill de blasio would give this money back to the people and see what comrade krugman does. melissa: we're going to stay right on top of that. i'm sure exactly what will happen. take the money and run! walmart pulling no punches
as it sets its sights directly on western union. we hear from the man behind the move. should women take a cue from beyonce and rice up? why women in power are not helping others do the same. charlie gasparino obviously is weighing in on this one along with the princeton mom. more "money" coming up. ♪ i've always had to keep my eye on her...
so i'm doing fine... but she's still gonna give me a heart attack. innovations that work for you. that's health in numbers. unitedhealthcare. a short word that's a tall order. up your game. up the ante. and if you stumble, you get back up. up isn't easy, and we ought to know. we're in the business of up. everyday delta flies a quarter of million people while investing billions improving everything from booking to baggage claim. we're raising the bar on flying and tomorrow we will up it yet again.
is. melissa: so the glass ceiling has a surprising enemy. one study suggests the higher a woman rises to power less likely she is to support and hire other women. is that really the case? charlie gasparino is back obviously along with princeton mom and author of "marry smart" susan patton. susan do you buy this. >> i don't buy it. i think decision to hire or not hire is based on gender. or support a hire is based on gender. women don't like to hire other women because they have a uterus in common. that just doesn't make sense. melissa: what do you think, charlie. >> think some of that goes on,
that women look to expand and diversify the workforce. i don't think there is anything particularly wrong if that is not only criteria. this is just my experience. kind of interesting with me, i always liked working for women better than guys for some reason. >> easy for to you say, charlie. easy for you, nobody believes that. >> my bosses who are men i always wanted to wring their next. it was women i always worked better for. melissa: do you care to psychoanalyze that comment at all? >> i don't believe a word you just said. >> that is the truth. >> i think most people, male or female don't particularly love working for women. i think maybe it has something to do with the fact women have worked so hard to get where they are -- >> i disagree, susan. >> because they have worked so hard to get in positions of power maybe they're ally it about, they don't want another cat in the litter box at work why they're looking -- melissa: wow! i can't believe you just said that. >> it is the truth. somebody has to say it, melissa. that is the absolute truth. >> it is not. >> it is the truth. >> the women i worked for, i
worked for a lot of them at major newspapers. they weren't exactly right-wingers. i got along with everyone of them. the fact they strove for the top position, made them really good and really appreciative of other i people that strove. >> i don't buy that. >> i've seen it. >> i don't buy that. >> you don't buy that or haven't seen isn't. >> neither have i seen it nor do i believe it. i don't think, pause i don't think that the fact that they worked harder to get to where they are makes them better, worse,. >> it has to make them better. >> i don't think so. >> oh, yes. melissa: research done out of washington university and university of illinois. you know, but they did find that if they're working in a group comprised mostly of women, they're more likely to support and hire. but it is a lone woman out there leading a group and one other woman in the group, they found out they did their study it tends to be harder for other woman in the group. >> was it possible she wasn't making hiring decisions? melissa: they don't explain
that. >> they don't explain that. i don't explain it. i think when women hire other women in environments women-friendly the nature of the business or content or depending on the business, just supports -- melissa: is it possible a woman's harder on another woman who is trying to rise up? there was a little bit of that in the tone that came from cheryl samburg's lean in, we need to stop telling women to get a mentor around you will excel. excel and you will get a mentor. >> why? melissa: because she is asked to take on people all the time and she says, why should i? >> i think, one thing to coddle. another thing to look for people with diverse, skills and diverse workforce. i don't have a problem. i think that is a good thing in this society. >> nothing wrong with a diverse workforce you about the idea that a woman should particularly outreach to other women is as absurd as discriminate against somebody for not being a woman. melissa: oprah winfrey from her viewers and readers and -- did
she support barack obama or did she support hillary clinton. women were outraged why did you choose to support your race over urgenter. precisely. >> did she say i chose him because he was, he wasn't as smart? you see what i'm saying? melissa: yes. >> i think when you -- melissa: wasn't based -- >> on, i don't think there is problem with that type of diversity. >> i don't think there is problem with that type of diversity. only women will say why did she choose a woman because she is another woman. a man isn't going to say that? melissa: bad news out of candor us. we all peak researchers at simon frazier university studied people ages 16 to 44 playing video games. the bad news our cognitive motor performance worsens after 24. we start to move slower. not charlie. the good news we may get slower but we get smarter finding ways
to make it easier on ourselves? is that a tradeoff? reflexes are not as good but figure out ways to pay people to do stuff for us? >> i look at tom brady and brett favre at end of thinks career. tom brady doesn't have the arm he had at beginning. he is good and knows defenses. had a great year last year. a lot was based on his intelligence. melissa: a feminist and football watcher and. what do you think. >> i have a hard time believing you're a feminist. melissa: that is why this pairing is so hysterical to me. >> i'm a libertarian conservative feminist. >> oh, my gosh. on that note. lastly, they asked vladmir putin live television q&a session in russia and special surprise guest appearance. smoke them if you got them but no, there will be consequences. new warning on e-cigarettes. do you ever have too much money? ♪ all stations come over to mission a for a final go.
(announcer) scottrade knows our and invest their own way. with scottrade's smart text, i can quickly understand my charts, and spend more time trading. their quick trade bar lets my account follow me online so i can react in real-time. plus, my local scottrade office is there to help. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) ranked highest in investor satisfaction with self-directed services by j.d. power and associates.
i'm taking off, but, uh, don't worry. i'm gonna leave the tv on for you. and if anything happens, don't forget about the new xfinity my account app. you can troubleshoot technical issues here. if you make an appointment, you can check out the status here. you can pay the bill, too. but don't worry about that right now. okay. how do i look? ♪ thanks. [ male announcer ] troubleshoot, manage appointments, and bill pay from your phone. introducing the xfinity my account app. xfinity watchathon week was the biggest week in televisionhone. history. but just when you thought it was over... what now? with xfinity on demand you can always watch the latest episodes
of tv's hottest shows. good news. like hannibal... chicago fire.... ...and bates motel. the day after they air. xfinity on demand. all the latest episodes. all included with your service. it's like hi-fiving your eyeballs. xfinity...the future of awesome. dierdre: two big debuts on wall street and they're both doing great. let's go straight to andrew keane at cme with more on that one. good day. >> great day. you look at weibo, got bought at $17 right at open. i think 11.09. it was off to the races. i didn't realize it would pop as much as it did. it got to 24.5. i tried to short the stock at $21 and i couldn't short it at all. sabre as well up 5%. melissa: talk to me a little bit about sabre before i let you go. >> i'm waiting for option
market. as a trader i can't short either of these stocks. not saying i would want to. if i want to short i have to wait for options a week for monday we'll get options. i come on the show. i can only be long because i can't short it. say per, i think $16 is the floor. weibo i would put a stop on today's low which is $17. melissa: andrew, thank you so much. >> thank you. melissa: there has been a big jump in e-cig complaints filed to the food and drug administration in the last year. research on the long-term effects of e-cigarettes is coming out. some analysts predict e-cigs will pass traditional cigarette consumption by 2047. although that is while from now. what problems will society make with the transition to e-vapor products? we have nyu professor at school of medicine, dr. devi. here are the complaints. people have trouble breathing. headaches, cough, dizziness,
knows bleeds, chest pain and cardiovascular problems and allergic reactions like itchiness and swelling of the lips. what do you think. >> definitely. these side-effects, they're grouped into two categories. when you think of an e-cigarette there are actually two parts to it. it has liquid nicotine the same drug we find in traditional tobacco products t has sort after drug driverly -- delivery device that turns it into vaporized miss. side-effects can come from two groups. nick tone, abnormal heart beat comes from the drug and side-effects like burns from the vapor rising device. the reason it matters. the reason you separate it into those two categories because the fda can only control the tobacco portion of it, or the tobacco product. they can't regulate the including delivery device unless makers say it is for a medical purpose. melissa: does this make you
think they will get involved wall the different complaints? to be honest, sound like complaint about almost anything. if you watch drug commercial, chest pain, whatever. >> i'm surprised they don't have that on there. comes up with a lot of different medications. hard to know if complaints are valued. you usually study things in research studies. because this isn't medical research they don't have to. melissa: another woman said she had secondhand effects. do you believe that through the air because of vapor. is that hard to believe? >> i believe it you could have secondhand effects. we have that from tobacco. in terms of actually doing something bit or studying it you can't do it until they say it's a medical product. melissa: talk about the second topic we had, the danger of casual marijuana use. >> yeah. melissa: certain parts of marijuana smokers brains had grown in size or changed shape. this usually, if you scrape your arm and it grows. if you have brain damage the skin grows or tissue grows in that case. >> exactly. melissa: to deal with the
injury. what does this tell you? >> it says there could be injury in that area. that might be why the brain is growing or that the past brain. that is a little bit concerning. if something is damaging the brain in some way you want to be careful about that. the other thing is, that especially in adult brain when you see these changes, kind of goes along with things that people report. people who use pot say. they feel a change in their thinking. feel more relaxed. some people feel more anxious or feel afraid. they could have panic attacks. so the areas of the brain that are affected go along with that those areas control your emotion or memory. melissa: is it new to you that this would be result of casual use? however they defined it? they said casual use is 11 joints a week. that doesn't sound that casual to me. >> exactly. melissa: sound like a lot. >> seems like a lot too. but the thing is you do wonder. people who classify themselves as heavy smokers you might affect expect to see some changes over long term. people who say they are casual
smokers if they already have changes that is a little concerning. things we have to keep in mind. we don't know if these are reversible or permanent. melissa: that's a great point. >> we don't know for sure it is from marijuana because there are flaws in the study. melissa: dr. devi, thank you very much. all is fair in love and war but what about when it comes to tech? a tech love triangle that could get tangled. yahoo!'s marisa mayer making a move to break up apple and google. when it comes to investing should you leave emotion at the door? how much does personality matter to business success. tweet me what you think. "piles of money" coming right up. ♪
why relocating manufacturingpany to upstate new york? i tell people it's for the climate. the conditions in new york state are great for business. new york is ranked #2 in the nation for new private sector job creation. and now it's even better because they've introduced startup new york - dozens of tax-free zones where businesses pay no taxes for ten years. you'll get a warm welcome in the new new york. see if your business qualifies at startupny.com
week at nine month. adam shapiro is that the stock exchange. the magic number is 1869.44. that would be the winner of the s&p. adam: it would be the best since january 4th, 2014. we would be up if we close above that number of 1859, closing up for the week roughly 3% for the s and p. keep your eye on that number. we are not quite there yet but we have come very close. the s and p weekly performance back on, what was it -- october 18th, 2013, 2.4%. and the dow, by the way is up. leaders, percentage gainers on the dow, take a look at bank of america, general elector, earnings reports inspiring investors and disney leading the dow up. melissa: tony shake getting a
revealing interview, begs the question how much personality is too much? charlie gasparino with hillary kramer and charles payne. with the thing? charles: i love the ceos with outsized personality to a certain point. you get a cult of personality particularly when they transcend main street and wall street. steve jobs is an example of that, elon musk, it actually gives their stocks above for. you can go the other way. man on oversstock.com, i love it, comes on the network a lot and a lot of people thought he was not. i remember the ceo come in gone with a dray un. kind of weird. they can't vote against you but overall i like it. >> patrick byrne you are talking about. i like patrick as well. one problem he had is what people doubt it was what he was
saying, not his personality. before he was overly passionate but -- >> wasn't just being overly passionate. he said there was the sixth lord out there attacking him. when you throw stuff like that around -- it just -- that was more than personality. >> it is powerful thing to know you can turn your workplace into a tv lounge and invite everybody to have the hour at 5:00. does this into the land sound like a wild and crazy guy eating coffee been soaked in vodka but can work faster. at what point do you feel good about it as an investor and what do you like? >> it has to do with that balance. the personality can't be too much or bigger than the brand. take warren buffett with his folksy way. he is able to benefit and at the same time, is also about having
substance. >> aren't you worried as an investor, doing that -- >> dennis kozlovs the -- charles: the guy he said a personal trainer when he first said the guy had to come to his house and called them to them house in ten minutes. again you walk a fine line, making money. >> he quits at 5:00, 5:00, and he starts eating chocolate. maria: he looks at the coffee bean and could write his book. >> a fun personality. melissa: vodka in some. charles: culture in silicon valley, skateboard and -- melissa: it wouldn't work with alan mulally. anyone who works at ford, jeff weiner works for linkedin.
works, goes together but other companies have been built around that. melissa: evan spiegel gathers his employees to talk about their feelings once a week. charles: that is an eventual short. >> talk about your feelings. >> don't want to make a judgment based on of foam but as long as you are making money the secrets -- >> suppose our boss called him. >> i would do anything he says. i would do it. >> tell the truth. melissa: what ever. charles: a lot of stocks. one last thing, to your point, it does work until it doesn't work and sometimes these guys give megalomaniacs the worst-case scenario the american imperil guy, all kinds of charges leveled at him, the hot stock that the rail. can get these guys who become sort of nuts, crazy.
>> it is the stock right now. dagen: all find games. >> i want to do this thing where you fall into people's arms. melissa: we will do that right after the show. yahoo! is getting up to fuel a surge giant away from apple products. yahoo!'s buyer plans to woo the i phone maker next. at the end of the day it is all about money.
melissa: melissa frances with your fox business brief. a federal judge is rejecting a bid that would enforce general motors the issue of park it now on notice for 2.6 million recalled cars. the order would have effectively forced gm to tell customers to stop driving. to recall vehicles because of defective ignition switches. meanwhile ousted yahoo! executive castro raking in $56 million for his 15 months stay with the company. he was hired back in 2012 to revamp the internet search giant's advertising arm. shares of chipotle taking no side after the company says it will increase prices for the first time in three years. number rego chain says rising
but with so much health care noise, i didn't always watch out for myself. with unitedhealthcare, i get personalized information and rewards for addressing my health risks. but she's still gonna give me a heart attack. that's health in numbers. unitedhealthcare. melissa: tim cook must feel like the bill of the ball, yahoo! reporting a charm offensive to steal apple's log away from google allowing yahoo! to become the default search engine on
iphone. who will come out the winner in this battle for apple's affection? todd hazleton and jerrod levy of cap would investment fund. what do you think of that? >> i don't think so. >> you know that i like her. and is powered by a 2009 agreement with microsoft last ten years. what will she proved to the homepage is covered by beaned but microsoft was that in. >> it is an admirable initiative, and they could get yahoo! mail. and look how good google search function is. melissa: isn't it all about that in tech? >> hired as engineers away from google and improve the algorithm. >> you superaggressive.
as quiet and i would be diametrically opposed to the other guests and i do agree it is the climb but the thing to remember is this. you are right. they use being now and have an uphill climb the two or three years now this is an option. i don't think it will happen now. if she can do something cool and different from what google does she can get the business. it is years out from now. melissa: she is the queen of throwing money at her problem. why can't she just go out and hire the right engineers to come in and make yahoo! the best search engine. >> we talked in the past, engineers don't want to work for yahoo! the one to eat work for google and apple and twitter and face book. melissa: they don't want to look at facebook. >> she is buying the little company to get these engineers and telling them to work on
mobile search. melissa: when ali baba goes public tons of money to buy those engineers from wherever they are. it will be an opportunity to work for. >> they do want to work for yahoo! and brought a lot of life into the company and a lot of money to pay those engineers. yahoo! is doing a lot of stuff. if you look at their stock compared to google, yahoo! is performing not just because of ali baba, it is the time issue. in melissa: do you own yahoo!? >> i do not own it. melissa: will be meaningful to you. and long term. melissa: thanks to all of you. we all missed one of our favorite shows, the article, the headlines ruining the whole
thing for you. an extension to take any spoiler's out of your face book and twitter feed. and all keywords unmuted from your feed. i need it. >> i am a binge watching of tv shows so game of fronts to finish. i throw that in there. it is coming out and i don't want to know better. melissa: is a great. and i'm watching the history channel all day long coin. thank you for tv, not so much, i would be very scared of the government starts putting spoilers, that would be --
>> what do you think. >> i am still trying to figure out, i don't like facebook and social media applications, and smarter than i am an scares the heck out of me. melissa: thanks to everyone. we are heading into the final hour of trading and a short holiday week. now what she has coming up so much to watch. melissa: we are starting to see a little strength with the russell 2,000 up 7. s. when they start to rally there is the coming into the market. we are closely watching google, it is falling nearly 3% on the back of earnings that were a miss. is this a buying opportunity? i don't want -- google have so many hands and cookie jars,
whether they are a visitor lobby or anywhere, we are talking about this stock with two expert people. nobody, not a single analyst has downgraded the stock. it is kind of interesting. melissa: thanks so much. we are looking forward to it. and this has nothing to do with shopping the. new plan to make money transfers a lot easier. you can never have too much money.
adam shapiro at the stock exchange, up 31%. >> strong first day, they priced last night but that was at the lower end of the range, price of $17, raise $2186 million when price sold 68 million shares. they had wanted to sell far more than that. value of the company's $3.46 billion but they are off to a great start and weibo in chinese means microblog. think of the mass twitter of china. they hope to double that over the next couple years. melissa: spare change, wal-mart has a hand in everything in its newest venture, transferring money. the superstores looking to take on heavy rains like western union with its new walmart to walmart service. can it stand up? daniel eckerd is senior vice president of walmart u.s. services. thanks for joining us. >> thank you for having me. melissa: the first thing is your prices for doing this is a lot
cheaper than western union can charge $76 million to transfer $900, money gramm charges $73, you are charging $9.50. why is it so much cheaper and are you losing money? >> walmart has a long tradition in using its size, scale and the systems it already had and parting words world-class providers in the financial services based to bring to light some model that allows us to operate for less so you can pass those benefits along. melissa: how are you operating for less? is did the deal you made? you mentioned your partners, euro next worldwide is the one you partner with to do this. to partner with money gramm on other things. including money transfer, walmart accounted 27% of its total investment revenue. does this make it cheaper. >> it has a lot to do with our
ability to sit down with partners, work across the table. working out the entire concept of the service offering, where we can provide clear straightforward services and eliminate areas that are extra costs associated with it so i can bring to life money to market a money transfer. melissa: this is kind of details. >> the transfer is a domestic transfer service solely. added u.s. the u.s. or in the money transfer business they call that the corridor, u.s. to u.s. court of. by e eliminating the international portion of the service offerings, the tight value change on the corridor. and many transfer limits of 2 and $900 a day limit. and monitoring costs associated
with it, and that they can bring to life secretly below their. melissa: you're doing it within the u.s. and a smaller amount and the limit on it, that is cheaper. money gramm's got his slam down 17% on news that you are not partnering with them and stealing a lot of their business. what is the relationship with them going to be like going forward? >> we have a strong relationship with moneygramm evidenced by contract extensions we initiated and executed in 2012 that became effective in 2013. they will continue to be a partner for us and they offer a choice model in walmart. we are about choice and assortment. customers have needs in the money transfers space that the walmart to walmart money transfer can actually meet their particular situation. melissa: thank you for coming done. >> have a great day. melissa: nothing to see of
vladimir putin refuting any mass surveillance in russia as the u.s. and its allies threaten more sanctions over the si you can never have too much money. ♪ [ girl ] my mom, she makes underwater fans that are powered by the moon. ♪ she can print amazing things, right from her computer. [ whirring ] [ train whistle blows ] she makes trains that are friends with trees. ♪ my mom works at ge. ♪
[ 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? yours? ah. not anymore. it's a very short story. come on in. [ male announcer ] by meeting you more than halfway. it's how edward jones makesense of investing.
♪ melissa: president putin hearing from a surprise caller. >> does russia intercept, store or analyze in any way the communications of individuals? melissa: putin responds, quote, according to our law it cannot exist. let's bring the panel back in for this one. edward snowden online two, big shocker. [laughter] what do you think about this, todd? do they have a system that can do the same thing? >> i think absolutely, they do, and ever since the soviet union they've had secret police. they have humans doing this. they have storm boxes which are
able to bring in text messages and phone calls and e-mail data so, yes, it's absolutely happening, and we saw it during sochi. melissa: putin-less kgb, i don't think even the russians believed him when he said that. but i think it was incredibly well scripted, this was a wonderful production with snowden getting piped in with his well-crafted preamble of a question. entertaining at the very least. >> yeah, if nothing else. >> how much was he paid to do this, and how much was snowedden paid to compromise -- snowden pause to compromise -- paid to compromise the intelligence of the united states in first place. this proves it. melissa: everything that went on during the olympics? >> yeah, exactly. we saw everybody getting hacked on their mobile phones, their laptops the second they pulled them out. there was a lot of concern about surveillance in general, i think it happens because russia's afraid of dissenters, we know
that's happening. melissa: they admitted curl to during the olympics there were video cameras in some of the athletes' showers. >> they didn't seem to be hiding the fact they were watching people, so i don't think anyone is going to believe him when he makes this statement. he, actually, is really slinging mud mt. face of our president -- in the face of our president, president obama, in miss response in the comparisons he's drawing. i think this is a real shot at our president. of. melissa: okay. thank you so much to our panel. the markets have turned negative, i'm looking at a dow that is just barely in negative territory. i don't know if we c show the boards. it's down -- thank you so much. it's down about two points, felting a little bit of a sinking feeling as we head into the final hour of trading. that is all for you. i hope you are making money today. there is no one better to take you through this next hour as we watch this trading on this shortened trading week, very important, liz claman and
"countdown" starting right now. ♪ liz: google shows it is human after all with a major earnings miss, but not a single analyst recommends selling the stock. so is this report just a blip on google's otherwise impressive radar? and what about the future of search and those fruitful dollars? russian president vladimir putin declares he has the right to to use force in eastern ukraine. even as the west threatens russia with new sanctions. russia now turns to its formidable ally, china, for help. will it be enough to bolster russia's economy, and can u.s. investors benefit with a certain exchange-traded fund? and course correction for royal caribbean. the cruise line sending its brand new game-changing ship, the quantum of the sea, from new york to shanghai after a series of mishaps in north america, can the cruise indust