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tv   After the Bell  FOX Business  December 3, 2013 4:00pm-5:01pm EST

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groupon for toys home goods and for thanksgiving shopping. [closing bell ringing] david: we'll talk about tesla again. good news about the fire, not because of any defects. the tooksoming up 14 or 15%. liz: here are the numbers. what you do see? thethe biggest percentage loss n the dow, just down over half a percent. russell is not looking great either, down five points to 1124. as you see from the nasdaq and s&p following the red trends. david: there are very interesting surprises. we'll talk about all of them. we want to get you caught up with the front page headlines before anything else. automakers. let's talk autos here. they're reporting a big jump in sales in november, the best monthly performance in six 1/2 years. researcher auto data said sales soared to an annual rate of 16.4 million vehicles last month. this is way ahead of expectations. despite the beat, ford and gm's stock are both down 3% today. liz: blackberry trying to
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reassure investors it is far from dead. the smartphone maker, saying a number of big clients installing or testing its mobile device management service actually has risen 20% in six months. david: one company seeing a big jump in the shares today is the teen apparel retailer abercrombie & fitch. activist investor glen well, founder of engaged capital, is calling for the replacement of abercrombie's chairman and ceo, michael jeffries. liz: google challenging the amazon to win corporate customers in the cloud computing. google is marketing, express service. david: sony sold 2 million units of playstation 4 video console in the first three weeks after its launch. sony faces tough competition from microsoft's new xbox one. we'll talk about this a little later in the show. liz: unionized city workers in detroit have suffered a major setback in the fight over bankruptcy. a u.s. judge ruled detroit is
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legally entitled to pursue bankruptcy. of the "after the bell" starts right now. david: we're a little off the floor of this market. it was down triple digits. we ended the day on the dow, anyway, down double digits. let's look at today's action with robert russell, russell and company president. he tells investors why 2014 will actually be the year of the stock-picker. larry shover is in the pits of the cme. larry, let's start with you. what is going on? is this just a pause or a downward trend we're looking at? >> well, david, no panic here but make no mistake about it the short-term dynamics here are quite disconcerting and cause for concern. all of 2013 we've been very sensitive to any kind of decline but right now what's going on, any type of knee-jerk reaction we get is quite core rob tiff
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for everybody. people take rallies for granted. hey, dice it's a santa claus rally. of course we'll rally. that is not something you read in a book or magazine. it comes from three decades trading. in my view a lot of weak hands are holding on to the stock market. not to say i'm bearish but maybe a cause for slight concern. liz: right. he read the stock market almanac year after year but you see the trend, but it may be bucked since the market outperformed over the past year. robert, let's bring you into the conversation. you say 2014 will be the year of the stock-picker. let's back it up. we still have a couple weeks left in 2013. what do we see? we saw the volatility index, the vix, touching 15. that's about i believe a seven-month high? is that what it is? rather, seven-week high. did that give you pause to say, wait a minute, let's put a little insurance into the portfolio for the moment? >> yeah, we've been looking profits. i think this is actually healthy that investors and money managers are saying, you know
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what? we've been up double digits for this year. let's push cash on the sidelines. let's not get greedy. that is the important thing to take note of right now, not get greedy in this kind of a market. as we look at 2014. all the easy money has been made. easy money gravy train may come to somewhat of halt. you can buy a broad index in 2013 and make money very easily. next year, amateur hour is going to be over and stock-picker will rise again. those guys that can bring alpha to the portfolio. david: larry shover, much bigger than the loss on the dow today was the gain in oil. we've seen a steady gain in oil. what's going on there? >> fantastic story. i love it when fundamentals and technicals collide. that is what happened today. i mean bear in mind that we've had the super congested situation in oklahoma, cushing to be proper about it. we've had two pipelines that were not online, seaway, transcanada. news came out that transcanada
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excel might start pulling 700,000 barrels a day in january. david: wow. >> that will pull up a super congested situation into need really quickly. even last week people were thinking that transcanada might be able to pull half of that out, not 700,000. combine that with, combine that with healthy pmis out of the united states yesterday and also the eia report coming out tomorrow, people are expecting a 700,000 draw, i think you add that to the fact a lot of short-covering by those nasty speculators who drive down the price of oil, are driving it back up. liz: by the way, stuart varney's show, "varney & company", will have those numbers the second they came out. 10:30, right, larry, 10:30 a.m. eastern? >> yes, ma'am. liz: robert, let me ask you, is there an energy name that is your favorite right now as you the stock-picker of 2014 looks into some of these names? >> well, there's several, but the one that comes to top of
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mind is devon energy and devon is one of the largest, oil, natural gas producers in the u.s. they have nearly doubled their capacity in the last couple of years. and they have consistently raised their dividend for years in a row. i think that is, that the pick right there when it comes to energy. david: robert, you know the interesting thing about you you are a bull but at the same time you think we are in a bubble but this is a bubble you don't think is going to pop anytime soon. you can't ignore it, you have to manage on to it, right? >> right. look at the people that have been the naysayers all this time while the s&p is up 20 6% year-to-date or so and -- 26%. they're right but nobody knows the timing when the fed eases off the throttle. david: is it time, at least to clear a little bit of that profit off the top of the table? >> yes. it is. that's the short answer. yes, book some, like a casino. casinos control everything but they can not control when the player gets up from the table.
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time to take some chips and walk away. david: that's right. liz: larry, what chips are people grabbing and walking away that you see in the flows on the floor of the cme? >> well, some of the underperformers, outperformers, people are grabbing on to technology. they're grabbing on to financials, especially the big cap banks. something that is underperformed in a big way. you're talking sub-12 multiples compared to the s&p 500 of 500. people are looking out for values to be had. hard to find. david: it is hard to find, but robert, you found one of those tech stocks. there are not many to find that have room to grow but there's a tech stock that deals with watee. explain the stock. >> so it's sigh lemm. psy lemm is a multiconglomerate. they're in water solutions technology. david: what does that mean? >> provide advanced technology -- well, it means a lot of things.
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they do sanitation for cities. filtration systems for hot and arid areas. they create massive pumps to pull water out of into the-stricken areas. liz: people talking about water being the new oil or the new gold. you wait, you wonder about that. >> yes. liz: there are a lot of names in this space. why this one in particular? >> well i think they have got the grip on the entire world with all the brands and different patents and technologies. anytime that i've looked in the news where an area was flooded, or growth, population growth was taking place, they were going to a xlem product. that is not a household name. a lot of their individual subsidiaries, but they have like 15 or 16 brands. david: robert russell, great stuff. thanks so much. larry, we'll come back to you when the s&p futures close in a few minutes. right now we have breaking news. liz: we do. a new york state parole board agreed to release former tyco
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ceo dennis kozlowski on parole. you may remember, kozlowski served prison time, years and years for his conviction in 134 million-dollar fraud case. he paid back all of the money and more. a spokesperson from the corrections department says dennis kozlowski's release is scheduled for january 17th. i interviewed him a couple years back, david in out tick a at the prison where he was for many years. he was telling me year after year he would watch murderers come in and serve less time than he did. of course he was that so-called, poster-child for corporate greed back in the late '90s. and a lot could be said about the fact that people believed that in some cases his board had actually signed off. david: but clearly he was ripping off a lot of stuff. he was one with those shower curtains worth $6,000 and the umbrella stand for 20,000. i mean the fact is this guy did rip off people. that is why he was in jail. but he is getting out. we have pretty good connections with him.
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might want to keep it in on fbn. neil cavuto in particular maybe get an interview with him as soon as he gets out of prison. liz: the personal computer industry would be in much worse shape than anybody thought a few months ago. we'll tell you about a grim new forecast that illustrates the huge challenges facing pc-makers. david: also as a judge clears the way for detroit to declare bankruptcy, gm and ford, see their stocks drop despite the dynamite november sales numbers. is there connection to what is happening with detroit and what is happening with stocks of these two companies? top analysts weigh in. liz: that takes us to today's facebook question. do you think we'll see more u.s. cities go bankrupt after detroit? if so, do you have some ideas which ones? tell us. log on to facebook.com/afterthebell. let us know. ♪ [ male announcer ] once, there was a man
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and a 30-tablet free trial. every day we're working to and to keep our commitments. and we've made a big commitment to america. bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than any otr place in the world. in fact, we've invested over $55 billion her in t last five years - making bp america's largest energy investor. our commitment has never been songer. david: the heavily shorted stock herbalife is jumping hitting new highs. let's go back to nicole petallides on the floor of the new york exchange. nicole? >> new highs for hesham mohamed hadayet a life. let me tell you the story as herbalife hit a new high today.
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bell appeals court overturned the pyramid scheme ruling. bill ackman has been shorting herbalife saying that the whole company was a pyramid scheme. meantime the stock is at at new high. traded at 76.83. this was a 24-dollar stock a year ago. it has run up 133% this year. bill ackman's pershing has done well this year but not on herbalife. on other bets they made but this one went the opposite way. that is -- david: in bottom end he is making money but not on herbalife. thanks, nicole. >> yep. liz: s&p futures are closing. let's head back to larry shover in the pits of the cme. hey, larry. >> hey. traders are looking towards 2014. let's face it. what are the headwinds? well consumer confidence jumped back, get us out of this economic rut that we're in. this anemic recovery that we've
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had. how about a yellen-led fed. normalization of monetary policy, we're worried about that. what will drive u.s. interest rates? that has a lot to do with the stock market. lastly, most importantly, will profits especially in the s&p 500, start to catch up? we've seen statingnant for the last two or three quarters. that is what is on traders minds. they're checked out, waiting for 2014. liz: i didn't think earnings were that bad. i mean, tough to keep up -- >> they could be better. you're right. liz: sound like many of our moms. many of our moms. your grades could be better. >> and they will be better. liz: good to see you, larry. david: while, gm, ford and chrysler had great sales numbers in november announced today the company stocks were down about 3%, a little less than that today. so what's going on? could the pending detroit bankruptcy be weighing on the company's future prospects? to answer that and other questions facing the auto industry we invited the best of
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the best. lauren fix, she is the car coach and automotive aspects founder and jeff shuster. senior vice president of forecasts. good to see you both. jeff, first to you. why the disconnect between the november numbers and what happened to the stock price today? >> well i think there's a no question, i think some of the numbers were expected. we were looking for actually pretty strong results for the detroit brands in terms of auto sales. but that doesn't necessarily correlate with the stock price. obviously there are some other things going on. i think impact of what is happening with the city of detroit could be a factor. really hard to say what's driving investors right now. david: well, lauren, the auto bailout, go back to those days, it was sold as a way to save detroit. clearly it didn't. detroit is just about to declare bankruptcy. what does that mean for the auto industry? >> well the auto industry, think about it, go back a few years, those are people that leased cars.
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that is why they're buying cars like crazy now. the leases are out. there were great lease deals, purchase deals and people want to buy the new technology and believe me there is some phenomenal technology from almost every manufacturer and new designs and it inspires people to make purchases. of course interest rates are low. there are tons of incentives. not every manufacturer is offering it like vw, it impacted sales for this month, not necessarily for the year. look what gm, ford, chrysler, big incentives, new product lines. getting cars off of lease and keeping them as loyal customers. david: i want to talk about the developments in the auto industry of you're right, lauren, they're extraordinarily good good. one. reasons sales are high because the cars are so good. jeff, one question about detroit, detroit as a car entity as shorthand for the car industry still exist? >> well detroit does exist and i think there's couple ways to look at it. i'm in detroit, in the metro
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detroit area. i think that is a key point. really the detroit is the the surrounding areas as well. the surrounding areas when you look at it are doing well, are benefiting from the return of auto sales. the city has some work to do, there is no question about that. we're seeing results of that with what is going on in the bankruptcy court. but i think overall detroit as auto industry is back and very competitive. david: lauren, these sales numbers are incredible. gm sales up 40%. ford up 7%. chrysler up 16%. the biggest number of vehicles sold by the way were pickup trucks. all three companies, do you notice any other trend? >> yeah i see a lot of trends. buick has a completely new lineup. ford of course is revamped their whole lineup. i have to give chrysler a lot of props. look what they did with the new cherokee, the grand cherokee. they have the dodge ram truck with a diesel in half-ton platform. these are all new product lines and they have done very well
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with them. also, even though it is not a u.s. brand, looking at nissan and toyota. they have done really well this month as well. again, new products and building them here in the u.s. and people want to buy them when they're built here. david: jeff, of course it is not just detroit. there are car companies outside like tesla for example. tessa up big-time today. i think it ended up about 16% of a gain back to the 150-dollar level of the stock price. do you think it stays there or are there more bumps ahead? >> clearly the story hasn't been written for tesla yet completely. obviously there is still a lot of issues going on. i think the whole situation with the fires needs to be resolved and maybe overblown, when you look at the overall impact of things but clearly a brand and a group to watch and a lot of excitement coming out of there as they start to expand their lineup further. looking downstream and bringing vehicles smaller and more affordable as well. that will help extend the reach
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of tesla. overall there is still a long road ahead before they have a significant impact in the market. david: lauren, have you become a tesla believer yet or not? >> no, i'm telling you when you see what bmw come up with the i3 and i8 product line, ford has electric, gm has electric. everyone has electric cars. there are not only game in town there are high performance vehicles in electric. i think they have a lot of competition. they still have -- david: i don't have an electric car, lauren. >> neither do i. david: i want to push back. none. electric cars has the luxury tesla does. fisker did but i'm talking about the ones in the running. >> you've got bmw you have to admit. audi has the etron i drove. i say impressive product. germans know how to come on strong. david: they do, they do. they know quality as well. jeff, lauren, great stuff guys. thank you very much. appreciate it. liz: cyber monday sales are in. the numbers may stun you.
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you may be really surprised to hear how much of shopping was actually done on tablets and cell phones. we've got the very latest numbers on that next. david: also president obama launching a pr offensive to try to win over sceptics and opponents of his health care overhaul and bump up his approval rates but will it work? let's go live to the white house right after a short break. ♪ as a business owner, i'm constantly putting out fires.
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liz: time for a quick speed read of some of the day's other top headlines, five stories one minute. let's go first up, potash corporation cutting 18% of its workforce. the world's largest potash miner by capacity layoffs are due to drop in demand for potash and phosphate. sigher monday sales hit a new record, rising is 6% from one year ago -- 16%. $2.29 billion. adobe said 18.3% of sales came from mobile device. increase of 80%, eight, zero, percent, year-over-year. report by idc said worldwide shipments of pc's are expected to decline 18% this year and continue to fall another 3.% next year. spacex will attempt to launch the falcon 9 rocket for the third time this evening at 5:41 eastern time. technical issues halted two previous attempts. that is of course elon musk's
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company. deem works, turbo fast launches for is ever netflix series for kids on christmas eve. consumers can stream the first five episodes holiday season. additional episodes will premier throughout the year. david: thank goodness for that. president obama trying to move beyond the health care website's troubles but launching a new p.r. campaign to rally public support for his new health care law. liz: rich edson live from the white house. rich, you saw the rollout. talk about it. >> well, liz, and david, the president says his law will not be repealed so long as he is president. this is the way the administration is trying to change the conversation from all the bad news they have had about obamacare, the botched rollout, people losing their health insurance and try to change it to the benefits of the program. in fact the administration says for the next three weeks the white house will be highlighting the benefits of obamacare, trying to drum up some coverage on the other side, some positive coverage. the president in an event here at the white house earlier today also addressed his republican
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critics saying if they have some better ideas on how to fix the affordable care act, he will consider them. >> if you ask many of the opponents of this law what exact think they would do differently, their answer seems to be, let's go back to the way things used to be. >> when you look at obamacare, this is government-centered health care delivery system. that is not what the american people want. the american people want to be able to pick their own type of health insurance, they want to be able to pick their own doctor. they want to be able to pick their own hospital. that is what a patient-centered health care system looks like. >> so while the president and the white house are trying to change the conversation, republicans continue their assault on obamacare. they're oversight on obamacare. four hearings lined up for the rest of the week in the house, run by republican committees, highlighting a rollout and some of the consequences we've seen so far from the law. this also coming on the day that the inspector general for the irs says that the website, the one that allows in the system
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allows you to get the obamacare tax credit could be susceptible to fraud. they're asking the irs to improve that system. back to you. david: so many details. thank you, rich edson in d.c. thanks a lot. liz: now we've been covering this from the beginning. a battle royale in the console wars this holiday season. gamers and investors listen up. sony playstation 4 and microsoft xbox one have both already sold millions of consoles but which one will come out on top? david: also, one in four college women are using the lulu app. have you heard about this? it allows women to rate men mom r anonymously. we have an exclusive with the ceo and her plans to make a lot of money off this craze. you want to stay tuned for that. ♪ in today's markets, a lot can happen in a second. with fidelity's guaranteed one-second trade execution,
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due to afib, a type of irregular heartbeat, not caused by a heart valve problem. at first, i took warfarin, but i wondered, "could i up my game?" my doctor told me about eliquis. and three important reasons to take eliquis instead. one, in a clinical trial, eliquis was pron to reduce the risk of stroke better than warfarin. two, eliquis had less major bleeding than warfarin. and three... unlike warfarin, there's no routine blood testing. [ male announcer ] don't stop taking eliquis unless your doctor tells you to, as stopping increases your risk of having a stroke. eliquis can cause serious and in rare cases fatal bleeding. don't take eliquis ifyou have an artificial heart valve abnormal bleing. while taking eliquis, yomay bruise more easily and it m take longer than usual for any bleeding to stop. seek immediate medical care for sudden signs of bleeding, like unusual bruising. eliquis may increase your bleeding risk if you take certain medicines. tell your doctor about all planned medical or dental procedures.
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i've got three important reasons to up my game with eliquis. [ male announcer ] ask your doctor today if eliquis is right for you. [ male announcer ] ask your doctor today [ mthat if you wear a partial,w you're almost twice as likely to lose your supporting teeth? try poligrip for partials. poligrip helps minimize stress supporting teeth stabilizing your partial. care for your partial. help protect your natural teeth. david: time for a look at today's market drivers. the dow and s&p 500 closed lower for the third straight day on speculation the federal reserve will start reducing monetary stimulus later this month. five s&p sectors ended in the red with materials and financials being the worst performers. the vix which is a so-called fear gauge ended higher to the the sixth consecutive session ahead of friday's jobs report hitting a seven-week high. this is the longest rising streak for the vix in a year-and-a-half. and it was a mixed day for
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commodities as oil rose 2.4% to settle in at $96.04 a barrel. this is the highest level in over a month for oil. gold on the other hand, fell .1 of a percent, settling around its five-month low at $1220.08 an ounce, liz. liz: following record cyber monday sales, did you see the numbers? $2.29 billion. some of the hottest ticket items this season are gaming consoles because this industry was getting ugly, very anemic. not now. sony is saying playstation 4 sales, the brand new console, passed two million mark. 2.1 million to be specific. microsoft's xbox, came out one week later, xbox one is on track for similar numbers. which console will be the ultimate winner this holiday season? luckily we have bret sapping ton. he has been living and breathing these numbers. bret, very hard to simply say who is winning so far.
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one came out first, that was sony. then the xbox came out a week later. different prices. xbox is 100 bucks more. we'll get to that in a minute of the as of right now who is winning the sales race? >> right now we have, we really have a dead-heat. the ps4 and xbox one are really neck-and-neck. if anything the psh may be slightly outpacing the xbox 1 at this point. >> the numbers do look similar. however, it's a little tough to compare these two because in a way it is comparing apples and oranges. xbox was released in what, 13 markets? playstation only two markets. to me if playstation has 2.1 million at the moment, don't they look to be the winner so far? >> they are and, i think an important point is, that, even if it comes out even, between the xbox 1 and pay station four, that is really a win for sony
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not only because of number of released countries. in north america is the only market worldwide where the xbox 360 outsells the ps 3. so the ps4 able to even go neck-and-neck with microsoft, here in microsoft's home market, that's a clear win for sony. liz: it is interesting because both stocks were down today. and, i don't know if that really tells you anything because they're gigantic conglomerates. they have a whole bunch of different business. microsoft has been under pressure to spin off the xbox. sony has been under pressure to break up parts of its business. but i look at this, if you use, for example, my extended family is microcosm, one set of nephews got the xbox, one set of nephews got the playstation 4. i think it is a dead-heat. i would agree you're correct but does the price differential make any difference? because again, xbox one is $100 more, although sony, extra 100 if you want to buy the camera? >> you bet. i think the price difference
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does make a lot of difference, not only in north america but worldwide. coming out of some tough economic times, families are still struggling in some areas. and so that $100, that is a pretty big difference. i think perhaps even more than that $100 however is going to be the games. at the end of the day it's a game console. so the schedule of games that are out will really determine which console wins. liz: let's not ignore nintendo. they didn't come out with a new console. their most recent one was the wii-u. how are they fare ing? are they in trouble? are they doing well? >> they're a distant third right now and they look to continue to be third. the wii-u really hasn't had the up take of other consoles. the one thing nintendo does really well is gaming content. all of the mario games, all of those types of games -- liz: march i don't. >> pokemon games, they do real hely well with consumers but it hasn't pushed console sales.
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liz: we have a name up there, the low-cost one, about $99, right? >> that's right. that's google's offering in the game console market. really looking to do more of a cloud play in the game consoles. so, we'll see where google plays. i think the problem for google is again in gauge content. ultimately they have to have the games for people to be willing to buy it and spend time on it. liz: a lot of discussion about whether you let the kids go online and do gaming there. is there a dark horse out there when it comes to the online component of it, that link between the consoles themselves and online opportunity? >> you know, there is one company that we're looking at carefully. there is company called steam. steam is one of the leading online distributors of pc games software in the u.s. market. they have come out with a new platform called the steam box. they're looking to work with pc
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manufacturers to take that to market. so you mentioned earlier that the pc industry down by a projected 10% in the coming year, if i was a pc machine every -- manufacturer i would look for any excuse to grow into a new market. liz: i'm glad to see people purchase the things by the millions. it really gets the business exciting. bret, thank you very much. >> absolutely. thank you, liz. liz: bret has a very interesting research report out. he is with parks and associates, looking and breathing all these numbers. thank you so much. >> you bet. liz: apple just acquired social analytic, right, david? david: that's right. they're called social analytics. it is called topsy. they take all the data from the social websites and find out how the data can be used by the companies. one of topsy's rivals, data siv is getting a lot of attention. coming up in first on fox business interview we'll speak with the ceo, rob bailey. we'll tell you about an app that also has investors buzzing.
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this time for women only. we have all the details what the company's ceo is telling us in just a moment. stay tuned. >> ♪ so ally bank has a raise your rate cd
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uh, mark? go get help! i have my reasons. look, you don't have to feel trapped with our rse your rate cd. if our rate on this cd goes up, yours can too. oh that sounds nice. don't feel trapped with the ally raise your rated. ally bank. your money needs an ally. liz: apple acquired the social analytics firm, topsy. reportingly paying $200 million for it there is another data company out there, a rival of topsy, datasift, creating a lot of buzz, just created a new round of funding. david: for a first on fox business interview, ceo for datasift. i want to put it into context, rob. people don't know exactly what the companies do. i have an example that happened to me. this summer i took up paddle boarding. lot of people are doing. somehow that ended up on a
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social networking site, the fact i was into this. today i got an e-mail, literally today i got an e-mail from a crowd funding site. actually it was kick-starter. and it was a request to invest in a company that makes paddle boards. now i assume, this company got my name from a social networking site. and that is kind of the stuff that you do. you organize data from social networks that can be used by companies, right? >> exactly. as the use of social networks like twitter and facebook is exploding, it's creating a real paradox which is companies increasingly have to use social data as part of their decision-making process. but because there's so much data out there, it really creates an overwhelming tidal wave of data for companies to work with. we solved that problem. liz: well it sure makes it easy for companies like the twitters of the world to pinppint
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possible targets or consumers that might be a opportunity to monetize. tell us how you make money. >> what we do, we are a social data platform. we ingest filter, and then deliver deliver data to our hundreds of application customers. they pay us on a monthly basis for a combination of processing and social date that that is licensed to them. liz: we're saying about 1,000 corporate customers. can you name some of them or describe what they do? >> absolutely. there is actually a few featured on our website. some of our favorites include, cbs interactive, that is using us as part of that news curation for their hundreds of reporters. dell that is built an internal tool called the social net advocacy tool which enables their product managers around the world to derive interesting insights from social that they can then use in the process of their day-to-day jobs. david: when we mentioned when we introduced this topic, a lot of
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eyes are focused on apple's purchase of topsy. are they direct competitors of yours? do you and they do something different? >> they, in a way are a, we're a direct competitor of ours but definitely a very different kind of company. david: in what way? >> more focused on they were more about simple search and indexing with a primary focus on twitter. they're a great company and we obviously congratulate them on their acquisition by apple. liz: because certainly paves the way for people to look at you. you just completed another round of funding, correct? what is the most recent one? $42 million in fund ing? that's a decent round. do you value your company? do you have a valuation for it at this point? you're in 40 different countries. you have got a viable business. >> we do. not one that we're sharing publicly at this time. liz: how do you go forward and keep doing business at hand and keep the eye on ultimate prize or being acquired by apple of the world or taking yourself
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public? >> you know, we obviously one day in the distant future are very excited about the prospect of going public. but i think that focusing too much on the distant future makes an entrepreneur cavalier about the present day. so we're really focused on just building the company as fast as possible and doing a great job of serving our customer needs today and anticipating what our customer needs are going to be tomorrow. david: you don't want to sell off, do you? this is such an exciting moment when this huge amount of data has not found a way of being sifted properly and you're right in the middle of that. isn't it, you wouldn't want to sell it off when you're having so much fun, right? >> well fun is certainly a part of it but it is certainly a lot more than that we are in the early days of what we believe will be a 50 billion-dollar market for social date that that is comprised of use of social data for analyzing brand and products in customer service. and in social advertising and we
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really see this as a transformational opportunity and an opportunity for datasift in particular to play an important, foundational part of this. david: just to explain the growth in that industry, you say eventually 50 billion. how much is it now? >> i would say, by rough estimates right now, somewhere between 15 and 20. liz: 15 and 20. this is such a fascinating business. in fact they call it the firehouse data providers. i've always wondered what is the genesis of that description? >> i think term is fire hose which refers to the very large and direct supply of data from these individual social networks. liz: ah, fire hose. i'm wondering why -- >> instead of term firehouse it is definitely a bit after hot house incubational period right now in the market where you have a huge amount of innovation going on in all different kinds of directions but the official
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term is indeed fire hose. david: by the way, rob, just as literally as we were speaking because i have my computer up right now, i got email from take apart paddle board company. liz: shut them down. david: trying to do crowd funding. i'm looking into one to buy one myself. i will not invest in it. but there's a lot of money to be made by people that sift through the data properly. liz: is it annoying rob, about some people about privacy? people just want to serve the web without reminded of where they have been. david: forget it. cat's out of the bag. >> i think at this point if you look at social your concerns about privacy are very well-founded. something that data cyst take -- datasift takes seriously with social networks. we invested huge amounts of infrastructure to assure right use of data. that is part of the reason we've grown so fast. hundreds of companies want to work with social data, not just
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in efficient and cost efficient way but privacy-compliant way. there is really important point to make here which is, that social and data that is being created by the social networks really has the potential to transform the relationship between companies and their customers. whether you are a retiree in miami, or you're an investment banker in new york, or product manager in tokyo, you really have to pay attention to what's going on. david: rob, i hate to cut you off, mid-sentence, we'll literally lose the satellite any moment. rob bailey. best of like luck to you my friend. thanks for coming on. >> thank you for having me. david: application one in four college women use to rate men but will it make money? the lulu app ceo joining us next. ♪ i take prilosec otc each morning for my frequent heartburn.
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david: well lulu, not talking hulu, not talking lululemon. lulu is widely popular app that allows women to rate men anonymously. it is estimated one in four college women actually use it. liz: jo ling kent had the opportunity to speak with lulu's ceo, alexandra chong joins us
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with more. this is fascinating this is something really getting a lot of attention. >> that's right, liz and dave. three million american women are on lulu right now. it is suppressing globally fast. they just launched in brazil. one of the most downloaded apps there. here is how it works, basically any man on facebook is automatically up loaded into the lulu system. then he is rated on a one to 10 scale of hash tags like hot friends, nerdy but i like it. just friends. never asks questions. can't build ikea furniture, jekyl and i'd. there are some more. there are major legal and privacy concerns. i asked ceo alexandra chong, what she thinks about how the company and the app is going to respond to that? >> we thought about those from the very beginning as we constructed the product. we built the product in accordance with local regulation and law and really wanted to make sure we had a very safe place. and, we built the product, really around those kind of core things. >> of course, great buzz around
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an happ like this often flames out. i asked the ceo what she plans to do to stay in business and actually generate revenue. >> we're all about creating a platform for allowing women to capture classified and make searches of personal information. we started with relationships. so right now this is kind of our starting point. the goal is to move into multiple verticals. right now in relationships. we'll move into health, to beauty. pretty much all the topic that is women care about. >> now, liz and dave, chong wouldn't divulge financials but interest in advertise something hot. big brand and companies have already reached out to get advertising space but they don't offer any yet. so companies like burger king created product profiles so women can rate burgers like they do men. david: i'm not a piece of meat. liz: if men did this type of website they would be decried and people would have a fit. i mean, look i can fine. david: that's true. liz: no different than hot or
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not. david: men and piece of meat at burger king, that would create up cry. liz: more power to her. she is making money doing it. thank you, jo ling. >> fascinating stuff. liz: pope francis is full of surprises. the odd jobs of his past may catch you off-guard. we'll tell you what pope francis was up long before he was recruiting people for the catholic church. that's next. ♪ [ male announcer ] how can power consumption in china, impact ol exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 70% of our mutual funds beat their0-year lipper average t. rowe price. invest with confidence. with investment information, risks, fees and expenses
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liz: let's go off the desk, shall we? would you eat food prepared by a 3-d printer? barcelona based startup, natural machines created a 3-d food printer called foodini. they have six capsules of liquid food which combined to make prepared dishes. inventtores believe that the final dish will create a huge variety of dishes including pasta, bread, pastries and chocolate. david: i thought it was a joke. also "off the desk," i thought this was a joke. long before pope francis was drawing people to catholic church he was bouncer in a nightclub in buenos aires. he swept floors and working in chemistry lab. since he was chosen, churches are up 20% all over the world.
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melissa: he is one of the most influential managers on wall street. citigroup's leo cavari join us entire hour of 3:00 p.m. with his perspective. david: "money" with melissa francis is coming next. melissa: another day of health care hello hell. guess what, reports say a third of people think they're enrolled in the new exchanges actually aren't. how much will that cost them and us? you know even when they say it's not, it is always about money. >> today the website is working well for the vast majority of users. more problems may pop up as you always do when you launch something new. when they do we'll fix those too. melissa: president obama kicking off a new campaign to rally support for his signature health care law saying healthc

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