tv Countdown to the Closing Bell With Liz Claman FOX Business February 12, 2015 3:00pm-4:01pm EST
no extra charge. that's all we have for now. i hope you're making money today. "countdown" starts right now with liz claman. liz: we're looking at general motors potential answer to tesla's electronic car. the all-electronic bolt, plus show you ford's souped up interceptor to help law enforcement chase the bad guys and take a look at latest models from kia to toyota. tesla's ceo on the conference call after the company's earnings miss, founder elon musk not angry, sent investors into a tizzy after tesla could match the size of one of the most profitable brands on the planet. listen. >> to take this year's revenue, around 6 billion, or
thereabouts, and if we're able to maintain 7% growth rate at that profit number, and have a 20 pe. it would be the same as apple did today. liz: that's right, if you didn't hear, he said apple, that one day they could be as big as apple. take a look, apple hitting another all-time high today. its third in three days, and that means a much higher market cap of more than $720 billion. shares of apple right now up 1.25%, tesla down .5%. a banking brawl over the former yankee captain. charlie gasparino working the phones, exclusive details on a big wall street firm that could be pitching a big effort to nab derek jeter's business. should goldman be worried? the last hour of trade, here comes the pitch. let's start the "countdown."
good afternoon, everybody, holders of general motors stock are doing the happy dance right now while tesla investors wondering if a plain vanilla electronic car can beat the sexy model s. gm planning to produce a tesla fighting all-electric concept car called the chevy bolt. will tesla be a little dented under the wheels of a new and perhaps fierce competitor? big-name stocks in the spotlight on the story. so is jeff flock live from the auto show there. the gossip must be flying, jeff. >> reporter: tesla is not here, liz, unexpected focus on electronic cars. this is a kia trailster, this has a gas powered engine in the front and electric power in the back, unique power train. the big story is the story about the bolt.
it was unveiled a month ago at detroit auto show and gm says, alan beatty telling us on fox business this morning, they will make the vehicle, bring it to market and fight the tesla with it. this will sell for about $30,000. much less expensive. 200 mile range, much more than volt. 80% charge in just 30 minutes, but in the face of a huge energy revolution in the u.s., i asked alan beatty, why are you fast tracking an electric car right now? >> i don't know if you noticed, there is an energy revolution in this country that brought gas prices down to the lowest level in five years, people say it's going lower in terms of the price of oil, what are you thinking? >> we have to look at it this way, we have the vehicle for everybody, the widest range in the industry, and provide for different environments in different times. people buy these because of the high technology just as much as
save gas. >> reporter: he says what goes up or what goes down may go up and they want to be prepared. they want to be prepared. tesla's model 3 is probably two years out. we'll show you the police interceptor at the end of the hour, interesting times at the auto show. >> i would think, look what it's doing to gm stock, jeff. up about -- above 52-week high, so it's a $38.01 the high was $38.18 we're watching that closely. as you look at this stock, just know that toyota has huge market cap, one of the best selling stalwarts of all time, the toyota corolla gets a makeover. jeff flock coming back in just a minute to show you that, plus the new camry. toyota usa vice president and gm says you want to get these as hand-me-downs from parents or older sisters and brothers, right? who among us didn't get a corolla as a hand-me-down.
from swearing to assurances things were not bad at all for his company. elon musk has an explanation for everything, musk was candid in telling investors about the fourth quarter. >> the biggest issue we're fighting to address that it is difficult to charge your car in china. this is false, it is not difficult to charge your car in china. unfortunately, this sounds kind of brain-dead, but our sales team was telling people it was difficult to charge in china, even though this is not true. liz: okay, i find it very candid he told people exactly why he felt the numbers were not good. should investors listen to musk or are crazy bold predictions and comments a turnoff for investors. let's have a bull-bear debate.
okay, right off the bat, i want you to hear the part where he cursed. now when i heard he had cursed because i heard jim kramer on cnbc freak out, this is so unprofessional. i thought he must have gotten really upset on the conference call. listen to what he said what he said. >> yes, i'd like to emphasize it doesn't mean [ bleep ] profitable, it means really profitable. liz: had you been able to hear that. he basically says that in essence they do not feel that the profits were just good when it comes to nongap, lauren, he said they were bs great, they weren't bs great, they were really great. you were turned off by this, why? >> operating costs are up number one, the total loss is up. when he says what sales numbers are, they're not sales numbers, they're total production is different than what actually leaves the production floor and
goes into the hands of consumers. i think that wall street is a little concerned about that, and you saw this morning how it opened at 193. liz: james? a 5% pullback on a stock up 900% over the past five years, how concerned are you? >> opened down 9 and down 5 now. part of the answer from the other responses that you heard a minute ago. they give you delivery numbers, i'm curious where the comment came, production and delivery. notwithstanding the fact they invested an incredible amount in all-wheel drive system, dual motor system, these are changes that traditional manufacturers take months and years to make, they did it in a quarter, without losing too much delivery slippage if you will. it was a solid quarter concerning the advancements. liz: lauren, solid? i wouldn't think so, would you? >> a net loss of 108 million
that's expanded from 106 million. and sure he has to put on a good face for investors. he wants a huge band of followers and people that love his cars to keep buying his cars. how many teslas can you have in a garage? you're going to get to a point where you get these suv's out, you get the all-wheel drive cars out and people want them. i see positives coming their way with the new battery systems he's got coming from the gig affect that you charge in your home. liz: and james, a company that's a bet not on the present but on the future. that may sound dot com inflated bubble nonsense from the 1999-2000 era. people want this thing, they may not afford it right now and trying to scale up. they have growing pains, but there is a great desire on behalf a lot of people with a lot of money to own a tesla. does that give them points, and is that the point where you say, okay, i'll get in the
stock? >> that's been the point. 2025 discounted to cash flow models dcf models are what most investors look at to think about the trajectory and predicated on lower priced mass produced vehicle called the generation 3 expected out at the same time the chevy bolt is expected. it's a cheaper vehicle that the point in time. liz: you said something that got a lot of my twitter followers touchy. nothing is going to be profitable if they don't have tax incentives put in by the government. lauren, i get touchy about that, big oil gets tax incentives and has over many years, when they pull these out from under the electric car companies, can they stand on their own two feet? >> that's very interesting, one of the things that's always helped tesla, he was getting electric vehicle credits and selling them off to
manufactureers that weren't selling to california and other states in the country. they are worth a lot less because manufactures are offering electric vehicles. he's got good product, not the product itself, it's again, without an incentive, it makes it difficult for the average consumer to say i'm going to step up to that. when the bolt and the bmw with the i8 and i3, prius has been out with electric vehicles for a while. you have to realize it's going to take an impact. liz: i would argue again, james, there's a lot of competition in luxury land and audi is killing it, mercedes is able to kill it, and porsche is lagging just a bit. there are always going to be winners here, and if china does start to find its feet economically and you get the rich chinese buyer, what could that do to the stock? one decent quarter out of china and there are 700 charging stations in china, according to tesla. this could really move the
stock. >> take competition first, first and foremost, there isn't direct competition in the sense that a pure electric vehicle with 255 miles of range. the i8 is gasoline hybrid option. >> you can buy the i3 in electric only, too. >> can you indeed, it has a great range of 80 to 90 miles. i encourage you to test drive that. when you put it up against the tesla model s which goes from 0 to 60 in three seconds, mcclarn territory. they are going to opt for the tesla versus the bmw. >> the key thing is service. where are you going to get it? bmw dealers are all around the world. >> fair enough. liz: we're going to continue the conversation, tesla is not going anywhere. that's a quote from meg whitman of hewlett-packard who worked
with him at ebay and bought paypal from him. james and lauren, thanks so much. closing bell, we're 49 minutes away from that. could we see dow 18,000 before the close? we were within 40 points. now we're within 39 points earlier. right now. we're going to ask our traders whether they believe the rally has real legs beyond 18,000 and what, if anything, could derail it. wall street bankers lined up to say, captain, my captain, place bank with us, charlie gasparino has exclusive information who's lining up to pitch derek jeter in all the bankers.
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avoid paying premium overtime holiday pay to dockworkers who have been staging a work slowdown for months, a similar shutdown last weekend left 31 ships waiting to enter l.a. and long beach. talks between both sides were expected to resume today. national retail federation warned a full port shutdown could cost the economy $2 billion a day, urging the president to step in. president obama, step into fix the labor battle. they urged that months now. and the chamber of commerce joined the nrf in asking the president to take action. close to dow 18,000. the big winners are consumer and technology. do you own them? mention apple again. making headlines by hitting another record high. pushing the nasdaq to a 15-year high. nasdaq is up 50 points right now. traders are here to tell us how they're riding the tech wave. first to the new york stock exchange and john corpina.
networks are are upgraded by enterprise, meaning big business. that helped the dow jones industrials. what is helping the dow and the nasdaq today? >> right back to apple. yesterday a significant move and following back today. tech has become the sector that people have been wanting to get into. as we've gone through earnings season, it sounds like fundamental basics are coming back into play. volatility continues in the market but now one way to the upside, as we've seen apple reaching really high levels here, and people keep discussing how much higher can this go? new price variations coming out on it. the overall trend in the tech sector is money coming back into it. for a while that is put on the sidelines, but now we see the rotation out of financials into tech. liz: charlie, i tried to get you on to shift towards cisco. he went up a apple.
how about you? >> i am not going to comment on cisco. i think you are in a situation where stronger stocks continue to get stronger. the trend is here, the s&ps want to test the high end of the trading range. liz: yeah, okay, i see that, but we have very interesting moves that completely brush off a bad retail sales number for january. retail sales down 8/10%, the expectation was fall are 4/10%, no one seems to care, is that good or bad news? john? >> liz, if you are coming to me. liz: i don't think john corpina can hear me, go ahead, charlie. >> i was going to say, i didn't look at total breakdown, just as energy prices on the way up kind of goosed the retail sales on the way up, i think you're seeing that on the way back down. energy is a part of retail sales and if you look at what
gas prices have done, we're doing in january. they had come off in a great way, i think that's one of the reasons that you're seeing people shrug this number off. liz: john, what do you think? retail sales numbers bad or good? january is a bit of a pullback, right? >> it is, investors shrug that news off. throw weather and oil and energy prices in there. when we see a negative number, investors and this -- >> let's not undermine the cease-fire between russia and the ukrainians, good to see you both on the floor show. we have 40 minutes to go before the closing bell rings. the baseses are loaded for derek jeter's business. the battle over the former yankee captain heating up. which wall street firm will win his millions? charlie gasparino has the details next. valentine's day fast approaching. if you're looking for a
team is clearly on jeter's mind, he's made it very clear, he wants to buy a team, and the only way to do that is go to a wall street firm and get financing. two of the firms in the best position to do in this, based on what i know, is goldman sachs, which has an interesting sports business franchise in their investment bank but also morgan stanley, given his relationship with harold ford. harold ford and derek jeter are close friends. they were seen last night, i understand it's a business call. let the games begin. one of the obstacles for jeter is not necessarily whether he can get the financing. i think he can find partners to buy a team. >> i was going to say, which team? >> there was talk about the marlins, at some point there is going to be a team available, and the firms are going to step in. what we have is a battle between morgan stanley and goldman sachs for -- liz: and these things take
years. >> called jeter inc. liz: you have peter guber trying for years to get a major league team. he called a lot of people together for the dodgers. this is not an easy prospect but he wants it. >> yes, as you pointed out last time we spoke about this, it was in december talking about goldman sachs, ten years it took gruber to get it. here's the thing, i don't know many baseball players that saved 200 million dollars. he's got a fairly significant net worth from playing days and he can probably monetize that in a much bigger way. liz: i think he's still endorsing things as well. >> he's got the player's tribune which the firms would like to be a part of, to expand that on a website. and he's going to do other things, but clearly wall street is wooing derek jeter. he is a bigtime investment banker. liz: unlike the other sports
guys, for now, he has a pristine reputation for now. >> what is he known for? one of the interesting things about jeter, he has all his money because he doesn't have any divorces to whack it up. liz: i know. he doesn't commit. >> he has the girlfriends. liz: dating the "sports illustrated" model, she makes her own money. >> yeah, and they're, you know, they've got their own things going.
. liz: two can't miss episodes of fox business' hot show "strange inheritance." if you can't make it on your own talent like jeter, did how about inheriting a 300-year-old cello or bug museum. this really happens. jamie colby brings us the story tonight at 9:00 p.m. eastern on fox business. less than 48 hours until valentine's day, do you have a gift for your sweetheart yet? charlie, yet. >> i don't believe in valentine's day. liz: you can't beat the diamonds offered by one berkshire hathaway. the prices aren't for billionaires, you have to hear about helzberg diamonds. toyota unveiling some of
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nicole, it's been closer today. >> reporter: quick get the hats! not really. but that's the point. a lot of the traders are excited that they've seen the market bounce back here. we got up to 17,975. you are 100% right, liz, 25 point away from dow 18,000. leaders include cisco systems which came out with numbers and earnings, the highest levels that we've seen in 7 years. that's up 9%. pfizer, chevron, disney, jpmorgan, so many names doing well. majority of stocks are well into the green. this is earnings season, we took a breather. the vix is pulling back. we're going to watch for the earnings later today. we look at that right now, groupon and zynga down 6.25%. and kraft foods has up arrows. watch the numbers close ahead of their numbers. >> groupon doing a billion
worth of business and the stock is down? very interesting. keep it here for full coverage, groupon, aig and kraft after the bell, 24 minutes from now. love could not break your heart but could break the bank. this valentine's day will be a record-breaking year with consumers spending nearly 19 billion dollars on jewelry, candy and stuffed animals and eating out. how much are jewelry retailers expected to spend and what are people buying? bringing in the ceo of berkshire hathaway owned helzberg diamonds, i'm so happy to see you. i thought to myself, we need to talk to somebody who sells diamonds at a fair price. diamond pricing seems so random. talk to the people who are one step out the door to buy something today. can they bargain at a store like yours? what should they be paying?
>> buying jewelry at somewhere which offers a fair value which helzberg does. anyone that comes into our store will buy something regardless of pocketbook as all of the items are great value and high quality. liz: how is business? >> so far we're pretty happy. we're seeing people come in the doors and biggest days are in front of us. friday and saturday will be very, very busy days. all the guys will be getting something for their significant others and we're there to make them heroes and help them with that choice. liz: you must absolutely love the fact that it's a saturday that valentine's day is on a saturday. does that make a difference? >> absolutely. the calendar day does make a difference, saturday is a real help. we are appreciative of the calendar this year. liz: i want to know what people buy at helzberg. talk about the top three best-sellers? >> it's always hearts. the heart i'm wearing is one of
our top items. $799 three quarter carat heart. liz: we can't see it. i'm wondering if we can -- there you go. how much is that? >> $799. and at the other end of the spectrum for $99, you can get a darling heart that comes apart to wear four different ways and nestled in a heart shaped box with godiva chocolates. liz: i was looking at the website, have you beat of your heart. that's the middle one, what you can't see there. $299 as you walk the diamond spins? >> yes, there's a little mechanism in the middle of the heart that has a diamond and moves with the motion of your body, the little diamond will move with you. you get the extra glint every time you take a step. it's like the beat of your heart. liz: you ran zales before
getting over to helzberg diamonds. can somebody walk in and start to bargain at a chain like yours or zales? >> we really are not chains that do that. liz: if somebody buys something, six people buy something top price, and two minute before the store closes, the last person comes in, no way? >> no, not typically, we don't do that. liz: that's because your prices as i understand it are pretty darn good. the diamond business is finally changing. debeers used to have a lock on the diamonds where. do you get your inventory mostly from? >> we mostly buy our inventory from people manufacturing overseas, and diamonds come, the cutting center is india, that's where most of the diamonds are sourced from. several cutting centers across the world. liz: that's a big job, you make one mistake, there goes a diamond. my eye sight is terrible. >> there is no question, it's an art. liz: no concept of that.
thank you for illuminating us right before valentine's day, good to see you. >> thank you. liz: helzberg diamond's ceo, it is a berkshire hathaway owned company. warren buffett may be a billionaire, he wants the value, too. closing bell ringing in 19 minutes. not all stocks are bad. says our next guest, giving us the names unloved on the street but could be absolutely lovable for your portfolio. and toyota revving up best selling models. jeff flock has all the details from the chicago auto show next. old names with fixedup styles.
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. liz: big news out of the chicago auto show. one of the best selling cars of all-time, the corolla, getting a makeover. to see what toyota is betting big on for the new models. jeff, i was saying you're at the chicago auto show. i was saying who hasn't inherited an old corolla at some point or another. >> this is not another corolla. you look at that red one, this is going to be a special edition. they're only going to make a handful, and i have bill fay, executive vice president and general manager of toyota division. this is a departure with the toyota and camry, you're doing special editions that is not like your dad's corolla? >> nope, we had major changes to corolla and camry within the last year or two, and shown two special editions with paint and
wheels and sportiness, redone interiors to keep both products fresh. >> as liz points out, these are the best selling cars in america. last month, the two best selling cars. >> trying to make them to a younger buyer and sportier. and hopefully with the reaction today, we're going to deliver. >> the other thing, this is the new avalon, which is also totally redesigned, right? >> it is. this will get a refresh in the fall of this year. led the premium midsized segment and we've been able to listen to our customer and make good updates on this car also. >> gotcha. lot of new things in chicago. i want to show you the interceptor, just unveiled before the toyota press conference. ford's police interceptor, the ford explorer souped up for police. they had the best model, no
offense to your models, they had the police dog pull the slicks off the ford interceptor. >> we would have gotten more coverage. >> yours were good too, number of important unveils at chicago show. liz: you see that interceptor coming. little intimidating. great to see that. and great to see the toyotas. the longstanding corolla and the camry. wall street getting a confidence boost. look at the markets. the vix or volatility index, fear gauge, falling 9%. that is actually lowest level of the year that we see right now at 15.31, as investors are turning more bullish about the stock market. what's the best way to ride those bulls and the sentiment that comes along with them? joining me with moneymakers for your portfolio, john buckingham. hi, john, and also with me,
steve sjuggerud, stansbury research strategist. as people see apple go higher and higher, i get nervous, haven't we seen this movie before? >> seen it going back throughout market history. have you booms and busts in terms of sentiment from investors. people get pessimistic. you had me on at the heist ebola scare last year and everybody was worried that the markets were heading nar correction. and time again, what you see, folks who manage to stay the course, they disciplined as we do in prudent speculator newsletter, they get rewarded in the fullness of time. you enjoy periods like this. you will have difficult times in the future. but focus on the long-term and let that noise, that always seems to happen occur, and the great thing is that equities have historically returned 10-12% a year for those who stay with it.
unfortunately, the average investor generally doesn't do that well. he or she is trading their account too much, and ends up buying high and selling low. >> we're looking at this one year dow picture, and there's a big dip a couple months ago, and people probably panicked, and we're well above that, and the previous highs of the year. what are the criteria you look at buying a stock? >> what i want to see is a market cheap, hated and starting an uptrend. and i think we have incredible opportunities right now. both in the u.s. and overseas. so right now in the u.s., i think the people are missing a huge opportunity. what we have is this 0% interest environment, and i think that creates a moment where there is very few relatively good options. liz: well, money may be cheap, but the market isn't cheap, the s&p is trading at around 17. >> right, 17, 18. liz: what's hated in the u.s. and what's cheap in the u.s.?
>> right, i would be a buyer of u.s. stocks at 17, 18 times earnings because with interest rates so low, there aren't other places for mom and pop america to put their money. liz: john, do you agree with that? >> absolutely. my own portfolio is yielding 2.7%. contrast that to two-year treasury, 2% and 30-year treasury. my portfolio yields more than 30-year treasu 30-year treasury, and i think the u.s. market is attractive, and names that have been beaten up, the rising tide hasn't lifted all boats. we mentioned apple, we own apple, it's done great. think about ibm, which has gone the other way, a dog, but expected to earn 15, $16 a share and trading at 150 -- $155. that's a great bargain with 3%
dividend yield. liz: i can jump in here, you like mdc holdings, that has 3.8% dividend. that's a home builder and originate loans. >> absolutely. mdc is attractively priced. and consumer confidence has been improving, the jobs picture improving, incentives for banks to make loans to homebuyers are being increased and you have a company like mdc is w a great balance sheet and i think the opportunities if you get outside the, you know, the hot stocks, names that just haven't had their day in the sun, and we haven't even talked about energy, materials, industrials and stocks that have actually gone south while the market has gone higher. liz: steve, you were saying go for things that are not even unloved, hated. china saying it's an awful situation in china. >> right. liz: you're picking an etf here, i think it's perhaps a safer china etf play. >> that's right.
previously i recommended investing in the chinese a-share, that soared like 40%. it's still cheap, still hated. in an uptrend. but right now by the criteria of cheap, hated and uptrend, the very best market is hong kong-listed chinese stocks. eight times earnings, the world's biggest companies. liz: large caps. >> china mobile, china construction. >> petro china, some of the world's biggest businesses, trading at 8 times earnings, completely ignored. everybody is worried about china. this is what you want to see. china in an easing mode where the u.s. is tightening interest rates. loosening reserve requirements, it's a great opportunity. liz: we don't have a ton of time, john, trees do not grow to the sky. we've had a five, six year long bull market since the bottom march of 2009. where is the 20% correction? i know it's coming in fits and
starts, are we getting set up for something that is a little more painful? >> liz, we had a 20% correction in 2011. the average stock down 26% from peak to trough even though the s&p was down 19%. it wasn't technically a bear market. we have had corrections and declines and pullbacks and whatever you want to call them along the way, and i think we'll have the fits and starts. i think valuations are attractive and the interest rate environment are in. stocks are the best place to be. >> i agree completely. i think a lot of people are worried what's going to happen with the fed if the fed raises rates later this year. if you look over the last 30 years, every time the fed is in a rate rising cycle. stocks have gone up from the first rate hike to the last one. i'm bullish. >> okay, steve and john, great to have both of you in your perspective, steve sjuggerud and john buckingham. okay, we are five minutes from the closing bell. great day, watching every tick of a really serious rally.
the nasdaq at 15-year highs, the russell biggest percentage gainer. we are, oh, so close to dow 18,000. any more to throw at your plate here? a lot more before the close. anything can happen, david asman is coming down for "after the bell." don't move! i'd rather do anything else than sit at a dealership.
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quick, easy experience. get your car, and get back to the life you love. welcome to the future of car-buying. liz: not exactly spitting distance of dow 18,000 but perhaps throwing distance. david: looking at s&p. the last record close in the s&p is 2090. where is it now? 2 1/2 points away from the record close the s&p. nicole petallides at new york stock exchange. she has been following all the records, seeing if we pop above them. start with something that is way down. that is american express. if it wasn't for american express clearly we would be at new records. >> right with american express, they're to the downside. basically their deal with costco will be terminated.
they will feel repercussions of that. the stock is down six 1/2%. that is a big move for american express. liz: that is a big move for cisco. it is leading the dow. this is a tough stock to actually move. >> no doubt. cisco is other side of the coin. the stock is hitting highs we haven't seen in seven years on their earnings so it is a tale of two names on the dow. david: i not only shop at whole foods but i am a stockholder, so i'm a happy guy today. the stock is way up on earnings. >> right. that's a new high. only one-year high. i took a peek at it. so certainly dates back to years back but certainly is a great number. the stock is up 5.25%. you love shopping there, buying the stock, whatever it is, you're happy today. liz: all it took was announcement of one big deal in the online travel world it lifted all the boats. >> new high for expedia, orbitz,
whole group. trip advisor. there may be more consolidation. [closing bell ringing] >> charles barkley. david: this is fun day for traders. seen more spectacular rallies. more triple digits on the dow. well into the green. start at very bottom. the russell 2000. that is about a one .25% gain on the russell. small and mid-sized stocks doing just as well as big guys. dow jones industrial up 106. looks like we'll not be breaking any records. very close to it. only two or three points away on the s&p 500. but not beating some records, individual stocks are beating records. we have apple. we have home depot. we have a number of stocks hitting all-time highs today. very big day on the market. "after the bell," starts right now.