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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  June 4, 2014 3:00pm-4:01pm EDT

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jo ling: i think it's possible depending on industry. melissa: we have to go because we only have about 13's left. thank you so much you guys. i hope you are making money today. countdown starts right now. >> the state run media attacks america tech giant like oh zero, google and microsoft demanding they be punished for spying and stealing secret. what is it mean for the companies trying to expand their second-largest economy? how does the us government respond? your teacher just got a whole lot smarter. in world of google glass now comes wearable apparel. closing that can tell you your heart rate, vitals treated we have the founder and ceo of omsignal. risk everything. nike world cup ads for a major viral splash. before the world's biggest sporting event event kicks off. we examine the marketing methods and whether nike
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nails to demos with one image. down to the closing bell stars right now. cheryl: hello back everyone. i'm in for liz claman today. persona follow-up on breaking news we had last hour and give you a shot of what is happening with the markets. the beige book really not moving the markets, but a couple things are coming out of it and some commentary is coming out of the beige book that market participant's are certainly watching treated let me give you a shot of the doubt. 1,612,729 and the market has been trading at a tight range over the last two weeks, but here's a story, it is about money pumping into the system and money come from governments, not just in the united states, but overseas and the commentary we have been getting in and the last hour on fox business is that basically without central banks pushing and money and moving money into the
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economy and again europe in the united states you don't have market right now, you have nothing, but of course we are following the markets and right now, we are also getting other breaking news into foxbusiness. this is someone that basically if you get involved and you need to well move some money in the hedge fund industry you would call the sky. steve cohen, but steve cohen has called someone else, someone so important so big that i don't know if you are al gore and you want to contest the presidential election you call him. charlie gasparino just i walked onto the set with this breaking news. >> i'm just going to read the headlines. we know this fox news has learned cohen has secretly hired high-profile attorney david boyce to represent him in regulatory. if you're going to back is that why does he need this? he needs him for the simple reason that the regulatory probes are not over and he wants to fight the fcc charge that is seeking to
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bar him from the securities and also it seems to be an indication that criminal charges against him and a lot of people think they are over and they didn't bring charges against him and they indicted the firm. is essentially family office disband, renamed that the criminal probes are not quite over and that's why you hire someone like him. this is big news. this is the first time this news has been disclosed. this has not been disclosed and they do this very quietly. when you talk to people close to:, what they are telling fox business at work boyce is primarily there to fight these sec charges with threat to brand him. i talk to other people that have said it's not just that. he's worried about a host of potential litigation and still his criminal charges are not quite done yet. that's why he brings in someone as high profile to read we should point out that cohen has declined to comment. they would not deny the story. this is a pretty big
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indication and it shows you that he is still worried and you don't hire him-- what has he done? cheryl: microsoft, tobacco, the us election with gore. what has he done? >> he currently represents hank greenberg in a host of litigation. this is a big movie. cheryl: stay still has more than $2 billion in net worth and he is worried about his future. he may have to sell more artwork if he gets pulled back into the court system. thank you. charlie gasparino at the latest on steve cohen series we are going to move on to another story we are following. i guess you could call this this note in effect. a technology company-- do you remember edward snowden, but contractor releasing us secrets? chinese media has been lashing out us cubbies for spine on chinese data to read that has caused the chinese government to dispense with services from companies like ibm, oracle, intel, what will this cost
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tech giants? like google and facebook? let's bring in rich edson from washington and our very own joint can't. rich, what is the reaction in washington? what is the verbal attack from the chinese on us cubbies? >> this is the public cyber fighting between the united states and china and it continues to actually. us officials have complained to us-- chinese counterpart's for years espionage. they're infiltrating american companies in on this latest episode that obama and ministration has failed to respond to repeated questions or comments. the one cyber security expert in town says escalation between the us and china will continue. >> i would expect to see more finger-pointing and mortality reaction and perhaps a more protection as to controls on what type of technology can be purchased and moving to exclude some
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american businesses or limit their ability to do business in china or with chinese companies. i think you'll see sort of this escalating trade war if you will. >> weeks ago the federal government for the first time charged five chinese government officials with hacking into us companies. china call the charges a sham as is the chinese officials are presumably in china the charges did little more than serve as a public shaming. the cyber rhetoric began with us national security agency spine as a result. china has begun turning down services from us company's and the obama administration says cracks of united states have applied a double standard as other countries by and the us government and private sector and do so to benefit their businesses over american firms. senior intelligence officials have denied that the us engages in economic intelligence gathering to benefit american businesses to. cheryl: once again they are on the defensive. these comedies in a course with the chinese in general.
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joe, what do you think this will mean for the business relationship because this is a very crucial relationship frankie to our overall economy. jo ling: absolutely and is rich said the relationship with us and china has been a rocky time. it's just widening and applications are costing american company's money in the chinese market. comedies like microsoft, google and facebook threaten them because they coordinate with the program from the nsa and . take a look at what we have here on their microblog overnight they bowed to retaliate saying quote to resist the naked internet high gemini we will drop international relation and strengthen technology safeguards, but we will also severely punish the ponds of the villain". the strong language comes after windows eight was banned in china two weeks ago and last month the doj announced those charges against the five chinese military officers that which mentioned. google has denied it works
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with nsa and is denying us government has any access to its servers and they do hand over information according to the law, but companies like cisco and ibm have actually seen a major drop in china sales, which some alice are calling that snowden affect in china. we have to remember that today is the 25th anniversary of the andaman square massacre which means the chinese internet has been highly restricted over the past couple weeks, we more so than usual. cheryl: before that you go, the ponds of the villain, are they saying that the villain is president obama? jo ling: it seems to mean they are implying that that villain is the us government and their actions into cyber security including the charging of the five chinese officials, but they are basically using stronger language than usual. of course, with remember they are also trying to support their nationalistic streak within the country to increase stability during a pretty tense time. cheryl: no whalley to do that but steal our patents. thank you.
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thank you very much. let's move on to what is happening in the us economy. investors scratching their heads after today's disappointing adp jobs report for the month of may. it was their weakest reading on the private sector since january. this report coming two days for the anticipated monthly them out of limit rating which will come out friday morning. keep in mind many investors consider adp to be a leading indicator for the nonfarm payroll numbers. is this just a blip? is the labor market really headed for trouble? let's bring in for a foxbusiness exclusive interview david, chief market strategist. this was a big miss. >> it was and to that end there has been in a lot of
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mixed data in the first half of this year. we had a negative 1% gdp report and attend down to the pmi data, we have seen weakness out of europe that will probably bring some ecb action tomorrow, the inflation data as well as the pmi in the real economic data. it's not a one-way ticket, but the good news is we are sitting here with record highs in the s&p and we are seeing the benefits-- cheryl: if the stock market fueled by central bank whether it's the fed or now the ecb that we are talking about they are cutting interest rates. i mean, this is crazy. >> i guess-- i guess what i would say the baton hasn't necessarily been passed yet from the policymakers to the real economy. we are incentivizing people to take risk. where time to get this economy that going in the us. cheryl: we have done this for years. >> we have, but we took a now, we are backup. cheryl: there has to be something that can grow
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economy and markets besides basically printing. >> i think most normal people would agree central banks create nothing. they don't invent. they don't change technology. they don't solve the human genome are any of that. what they do do is they change our incentive. they change our sentiments to want to go home and hide in a corner with just our cash in on invest like we all wanted to do in 2009 when the world is going to an end. cheryl: people are still doing that. >> yes, they have lost out on the last five years. with the central banks have done is try to get people to not do that and incentivize risk-taking. so, we always get too optimistic and the highs into pessimistic at the lowe's and we have natural incorporator which is our central bank and i honestly say they did a great job at getting us back to these -- cheryl: i understand you're bullish on the us market, but at the same time we are looking at euro zone inflation right now there's one issue that is not being hit certainly, but if you
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are going to be looking at a positive market if you look at something like 80p where you are not getting-- know it has a java no one wants to spend money. how do you still say bullish? >> i stay bullish because we had 10% unemployment and now, we have 6.3%. we are moving through the ecb is one central bank that has been most like the central bank of japan. they stopped before they started. it was a pathetic attempt at easing. may be mario will come through, but the chances are he will disappoint us again and i don't get that excited about the european economy. i really have to admire a lot of what the fed did. i think they still continue to do the right thing and if you look back and this could be very controversial for you on short. if you look back for what we learn from two e1, qe2, three, qe infinity is what we learned was a probably didn't do enough in the beginning. we just had to inject more
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medicine into the system. cheryl: we need more medicine because we are not taking proper care of ourselves. you have debate about corporate tax rates i mean about regulation? >> what i will say is that our fiscal policy has largely failed us throughout most of this recovery and it wasn't just for lack of trying it was balanced budget amendments at the state local levels of a lot of craziness at the federal level, but the private sector economy in the private sector portion of gdp has actually done pre-well and i remain optimistic. i did bring you one of our jeffries no hater hats. cheryl: i think i needed at this point. >> stocks are for lovers. cheryl: i like real estate. nice hat. appreciate it. thank you for coming on the show. closing bell will bring and we have 40 minutes to go.
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we care about smart watches, but what if your t-shirt could tell you everything you wanted to know about your current business level? we will catch up with the ceo and founder of omsignal, a foxbusiness exclusive. are you ready for some stocks? nike world cup soccer scores with tens of millions around the globe. we will look at the genius behind these ads. huge hit globally and whether nike can finally take on adidas for soccer supremacy. ♪ ♪ we're moving our company to new york state.
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the performance review. that corporate trial by fire when every slacker gets his due. and yet, there's someone around the office who hasn't had a performance review in a while.
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someone whose poor performance is slowing down the entire organization. i'm looking at you phone company dsl. check your speed. see how fast your internet can be. switch now and add voice and tv for $34.90. comcast business built for business. cheryl: it is the biggest sporting event of the year and while is this official sponsor 2014, nike soccer at campaign is making headlines with its by roadways to read one ad gets more than 70 million views in less than four days and that was before it hit tv screens around the world through the nike got a little nike marketing boost from the soccer player. he shared it with 26 million
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followers just hours out there it was posted online. he tweeted, nike football #risk everything. that's what he had to say that everything trade which sports a pharaoh do you think will win the advertising shoot out? if you play soccer you got that joe. paul argenti, professor at tuck school of business joins us now. thank you for being here. this is fascinating. releasing this basically on the web and this tweet. do you think they kind of stole the thunder from anita? >> absolutely. i think they are moving in that direction of realizing that online will outpace tv. i think it's 68 million to-- the amount of advertising dollars spent is very close today and by the next world cup it will outpace tv advertising, but where will you get 78 million people in four days before you put it on tv? they definitely trumped
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adidas. cheryl: nike will be running ads , correct? they are not the of official sponsor, but will they have any advertising the world cup? >> no, adidas actually has a interesting ad and it was directed by the city of god director in their campaign is all or nothing versus risk everything for nike, but it looks suspiciously like a nike had. i can imagine someone watching it and thinking they're watching a nike ad, but you have to had it to kennedy. the job they knew under advertising is world-class. cheryl: let's talk about the specific audience. many americans they don't know is that world cup and i thank you just alluded to this, the viewership if you compare it to the super bowl versus the daily viewership for world cup it's equal meaning that world cup is a much better payoff where if you are adidas or if you are nike, but is the strategy changing do you think of
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hobbies companies especially sports marketing players put these ads out there? is the strategy totally changing because of the web? >> i think it has to. think about it, every single day it's equal to a super bowl and the last day is 400 million viewers, so you don't want to lose that audience either. that's not a small audience, so you want to do both. you want to get the excitement before the odd, which they definitely have done. then on the days when the actual matches are taking place you have a month of super bowl essentially then you hit really hard. i think nike is one the first-- first part of the battle just by getting it out there to summary people. cheryl: i think that we should show our viewers again the rinaldo commercial because he is horrible to look at, such an unattractive man. let me ask you this, at the end of the nike ad they
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basically have like-- in the risk everything series there is like a school and bones image, what are they doing with that? are they going for the older grateful dead fans or kind of like the young 20-year old school candy kids? >> it's not the grateful dead fans they are looking for here and if you have actually looked into the-- what they are doing online is getting people to create their own ads using this. it's a play for the younger soccer fans throughout the world. and getting people to create their own versions of what they do. it's very exciting. cheryl: so they really are going for the younger demo? >> no question. i think as grateful dead they have not the target audience. cheryl: well, i like soccer and the dead. there you go, paul argenti. thank you very much, paul. good to have you here. >> thank you. cheryl: closing bell will ring and we have 30 minutes to go.
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flash boys and high-frequency trading. should investors still worry about whether the markets might be rigged? charlie gasparino has an exclusive interview with one of the men at the center of this firestorm. and it may be the next big thing in wearable computers. it's not just for fitness fanatics. the cofounder and ceo of the biometrics smart work of the omsignal will be here. that's exclusive on fox business. stick with innovation.
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written a markets against the small investors. his words, not mine. to you really believe that? >> the markets are systematically on fair. you can call it whatever you want. he used it, i've used before. the focus on the word to my thing, the challenge really is that it allowed our critics and a lot of people that are part of the problem to start answering the different question. they're not answering or addressing the real issues, the systematic and fairness. >> you believe it's not what the structure of the markets. let's see. i'm sitting home. have some money and need to put in the markets. i should not worry that ongoing begin screw their return. >> i'm an investor in the market i own the mutual fund. i have not changed my ownership
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based on the things that we have discovered. a lot of people say it's pennies. i'm inve dollars all that is right. the reaction you have seen is it the principle based reaction. it's not about saying it's not fair. >> commented it as intentional. and it's hard to determine whether it would be intentional or not. a case to be made with say that it was intentional. >> high-frequency traders do this bad stuff on purpose. >> barley is the influence they have that on the market. fundamentally what has happened is that markets have designed themselves in a way to give certain players an advantage to trade on that particular market. >> he would say that advantage has led to the tightening of spreads and cheaper costs for the average investor. >> i'll agree that the market,
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is cheaper to trade now. it's faster the trade. i would argue with giving credit to high-frequency trading. i give credit for technology. it is inevitable that technology will have a positive gloss on financial markets and was gone to deliver these benefits no matter what. the difference is that as good as it could be, not nearly. people are keeping a lot for themselves. >> and going it this one more time. you were a small investor, of the things you have to worry about where would you place high-frequency trading? >> that's a great one. i would hope if i was an individual investor would place it toward the middle. i would hope that the market's sort this out. i think a necessary tactic. should not have to think about it. but the fact that it exists does not make it right believable.
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>> your viewpoint differs a little bit from michael lewis's. how onerous amount promises the says. >> i think he would agree in terms of saying -- he is an investor in the market. he owns stocks. he allocate his portfolio. so i think he would agree with me. the fact exists. it creates a systematic and fairness. and part of the big risk, by picture, big picture is that you are introducing complexity into the market by encouraging them to go faster, but to whose benefit. are we destabilizing the market to satisfy someone who is just a renter? >> there are investigations going on. eric schneiderman. i have done some research on this committee the most aggressive, the new york attorney general. i'm assuming he has spent some time with mr. snyder.
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>> i can't comment. >> you know what they're talking about? today understand the complexities of what they're doing in terms of going after high-frequency trading? >> i listened to the things that were said. jack johnson who works for attorney general has spoken. and when they speak a sound bite people ingrained and market structure. >> they're going after it. as with south like to me. >> i think when you look at the types of things that they're discussing and the questions they're asking to my think the markets themselves, i think that they're asking some very fundamental, important questions that need to be asked. >> to questions. number one, one of the unfortunate outcome of michael lewis's book is that it destroys some degree of wealth. a high frequency trading firm which no one i know, whoever runs the selling, doing bad stuff, he may never be able to
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come public. that was not a good thing. >> i think they got caught up and everything that was happening. you know, virtue is -- chino, i was just on a panel. there are a good partner and a participant of our market, not the largest. >> private market. >> they trade. they're big in atf, in real estate and stocks. what they do is make markets. and it differs dramatically from people who are more of the predators'. you know, you heard him say on the panel that they get stopped. i think that from that standpoint they get caught. >> one last question, how will the market look in five years? will there be 50 different dark rules? >> there will not be 50. there will be less markets. >> why? >> , smoothies should not exist. >> and regulators will put them
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on. >> increased transparency about what happens in the markets will put them out of business. >> and high regulatory pressure. >> i think transparency is one of the best lovers of the regulators can pull. the reason -- demint, just a couple of days ago there were published metric some different markets. that's a great lover for regulators to pull. it does not impact the actual market structure and naturally what happens is different markets don't want to expose themselves to regulatory pressure. >> that's great. thank you for joining us. i appreciate it. to take away from this. investors should know if you saw any backing away from the historical notion that the markets are rigged, i asked him top-10, the top ten things you have to worry about where would you put high-frequency trading, and this is a guy that is in the book. he says about metal. he didn't say at the top. that should tell you something else. and the other thing, he
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believes. these are the private exchanges. there high-frequency traders. a lot of people said that the root of the market structure problem. there will be 50, as there are now. the regulatory pros will force less and less of these things. cheryl: a lot of great stuff. thank you. closing bell 25 match away. we will be right back. ♪
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work or war to the gym and of this technology embedded senate with no need for additional gear. let's bring in a pioneer. on the signal. co-founder and ceo. this is a fox business exclusive. you had the company you don't west and in that came up with basically something like this. now you're putting this in a shirt. is there really a demand for warble tech? >> well, right now it's exploding. i think the consumer demand is obvious we of launched an order a month ago. and readjust really thrilled at the consumer response. the evolution of the product is going fast. i would say it is an exciting time. cheryl: we should talk about the technology behind this. basically you have the technology. are there sensors? can you feel it's? and a year only selling clothing for men, but is it going to be uncomfortable?
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>> well, i'm actually wearing one right now. we lost a collection. and it's a light compression shirt. you forget that it's a biosensor shirt. by alistair my body on july iphone and from there on to the cloud on a continuous basis. cheryl: you are saying if you don't really feel -- because sometimes you put things in your clothing but you feel it underneath the shirt. let's talk about the cost of this. you just launched this. this is brand new. about $75, is that the average price point? >> r startup kit is $191 includes a shared your readers a small electronic module the you just snap on. your up and going. once you have the startup kit additional sherds of blonder dollars. cheryl: so i would need to buy several shirts, right? would not -- if i really want to do this every day. >> well, it's just a shirt.
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you start, buy a shirt, try it at the gym, get the experience of having all these biometrics available, like it, by another shirt, another shirt, and another shirt. is just clothing. cheryl: at think it might add up a little bit. $99. i you going to do anything for women? michele in one of your advertisements. she's pregnant and monitor turn things. is that the next thing? >> you are correct. and women, that will launch in the fall. we did launched from an first for a number of reasons. and then the product was easier to build for men because the fashion bar is very high for women, as you can imagine. as for men to see their biometrics when it is extremely strong. cheryl: one of the things i think about obviously because on somebody that does my own laundry, which is shocking in a york, are you worried about
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wandering the shirts and that affecting the technology? >> not all. it's probably washable. to recommend a line drive. my wife put it in a dry machine. i have had no problems. it's a shared. cheryl: like i said, you feel free to tell me the company as you found it for the bracelets, but you really think that this is going to continue? >> well, where rebel -- in fact, we are at the infancy of it. the ability have accessed your bio signal and have insights about yourself that help you, it is just the first inning. we anticipate the world a few years from now or you're going to go to the store and buy underwear or shirts or bronze and you won't even ask, you will just expected to be connected device that helps a little help you live. cheryl: hopefully the prices will come down. as the one thing i will say. it's a great idea. if it is comfortable, wonderful. co-founder and ceo. thank you.
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>> thank you. thank you, cheryl faugh. cheryl: the closing bell will ring in 17 minutes. american airlines flying high after a merger with u.s. air weighs up almost 90 percent of the last six months, and it is just one of the stock picks of our next guest. you will want to hang around to hear what else he is recommending. and while the markets closed at the top of the hour, we are always on call. go to foxbusiness.com / on a call and sign up. tonight i will be delivering the biggest headlines of the day directly to your smart phone. ♪ we asked people a question,
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♪ cheryl: the market volatility can be daunting for investors, but our next guest says, we are actually in the perfect stock-picking environment. the key is being it will tell the difference between reality and perception of individual stocks. joining me now in a fox business exclusive chairman and ceo. you really are a true stock picker. your fund with 6 billion in assets has always outperformed the s in peace. >> we are trying. cheryl: you are. less talk about, first, your overall view of what we're seeing in the market. the top of the show, yet the fed, the central bank, market hitting new highs this year, but, you know, is it real? >> i think this is along will market and economic expansion. i had said several years ago and still believe it that this is at least an 8-year economic
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expansion from 2009 to the recession low. so that gives us at least another couple of years of legs. for reasons you just cited, we have to accommodate the, zero short-term interest rates, and economy is growing. i personally think. >> it's a loose term. we still have gdp for the first and second quarter. rather disappointing he. >> we had some bad weather. would not give up pass in the second quarter. i believe we're going to see an acceleration that will surprise people starting this quarter. and so i think -- cheryl: let's get to your pecs. these companies our -- i think our viewers will know. major health care company.
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they sat on the west coast the stock has been really on a tear. >> i love the company. first of all, all sector, as you know, is consolidating. the focus and health care, too big trends. one is scaled to consolidation, and we keep seeing those deals being announced. pfizer after zeneca most recently. vacation just acquired solely seal. as you know, the largest pharmaceutical distributor in the united states. 34 percent market share. one of the leaders in europe. this is a global business. stock as of 71 percent over last year. the snb had 19 but a look at the valuation. is 12 and half times are estimates for 2015. accompanying the we think is
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going to grow 15% plus. and organically its growing. cheryl: we were talking about this during the commercial break you got the stock when it was u.s. air, and this is one of the government was going after them, the doj investigation, attorney generals. you said, i see an opportunity your. cheryl: rebought u.s. air at 18. last year was our initial purchase. we doubled down. our feeling was that if the deal did not go through it was cheap anyway, and if it went through a it was a home run every it has gone through, as you know, in december. the merger, synergies, and savings will be well in excess of what management has guided four. judge parker and his team -- ♪ likened? >> one of the best managers, if not the best. he has done this before with u.s. air when he acquired it out of bankruptcy, he hit a home run
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and turn the company around. cheryl: america west and u.s. air have merged. i know the players. cheryl: you know. just to let our viewers hours are looking ahead right now, the stock is up bagram 34%. a ticker's have changed from about the game is still the same. it's a heck of a performance. >> and i think the savings will be $2 billion plus per year and i think earnings are going to far exceed our general expectation, and the multiple, even though the stock is up a lot the multiple is about a 30% discount to the rail industry. and it is beginning to look more and more light rail. cheryl: you like consolidation. >> i love it. cheryl: if you're on the stock you love it. >> it is resulting in massive positive transformations in horrible industries like the airline industry which is a disaster. and turned around in the being of pricing power and profits are
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booming again in the street. good people. cheryl: there is your strategy for all of our viewers. thank you very much. all right. closing bell will ring in six minutes. coming up after the bell, she is a real estate mogul, a former model, one -- i sat down to talk about their families business in an exciting new sports venture coming up. ♪ (mother vo) when i was pregnant...
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i got more advice than i knew what to do with. what i needed was information i could trust on how to take care of me and my baby. luckily, unitedhealthcare has a simple program
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that helps moms stay on track with theiroctors and get the right care and guidance-before and after the baby is born. simple is good right now. (anncr vo) innovations that work for you. that's heah in numbers. unitedhealthcare.
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became big business overnight? ♪ 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.
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you always have to mention nicole i am a stockholder of apple so i'm very happy to announce that its at a 52 week high. >> is it nice? not only 52 weeks, it extends further and i'm sure you are happy because everyone was having a mild heart attack when this was a $700 stock today and it will high. it's great news for the apple shareholders at 1%? cheryl: another big stock that moved today was under armour. they got to upgrades and the stock took off. >> my family can't get
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enough of under armour and sometimes they even use that as a staple, but it set a new high. they put a buy rating on this company and athletic wear zen and it's interesting to see under armour hitting highs and coach, new lows. >> a lot of car news the last couple days. today we heard that gm will announce something about all the recalls, it certainly didn't hurt the stock today. it was way up. reporter: it's interesting to see how everyone bought ahead of more news. we will see what everyone does tomorrow morning, but you-- don't forget auto sales were really great this month not only for general motors and ford, but all of them altogether. stocks are up three and half% as we almost ring the bell. cheryl: that's frankly nice to see considering all the recall news. real quick, us steel did really well today. big outlook that was bullish for the sector, but that really helped. reporter: it's up 3.2%, it's
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the biggest move we have seen since december, so great news there. >> i'm bullish on this. we have a lot of stuff right here, but let's first look at the markets. they ended in the green. a victory by a nose so to speak as we head into belmont for this weekend. that the tickler stops and that we will delve deeper into and how well they did. yard he mentioned apple and other stocks hitting new highs and i believe it's another record for the s&p, i believe we are very close it's not already. been a busy hour for you. stay where you are. after the bell starts right now. david: i just want to put aside that it is a new s&p record. cheryl: confirmed. market looking good to

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