Skip to main content

tv   Countdown to the Closing Bell With Liz Claman  FOX Business  September 8, 2014 3:00pm-4:01pm EDT

3:00 pm
unconscious. jack howe. >> i mean, remove from football, but he should be removed from walking around in society with the rest of us. there's no criminal action that can be taken here in this case? melissa: i think she has to file a complaint. i'm not a lawyer -- >> it's a sickening video. melissa: we've got to go. hope you're making money today, here's liz. ♪ ♪ liz: and good afternoon, everybody, i'm liz claman. we do begin with breaking news on the long-awaited sentencing of one of the biggest insider trading accusees in just a moment, matthew mar toe mow, the portfolio manager for steve cohen in connecticut at sac. he was flat out convicted earlier this year for $275 million in illegal trades in two
3:01 pm
stocks. they were pharmaceuticals. martoma could get up to 20 years in prison. just minutes from now we will bring you the sentencing as soon as it breaks. doug burns, former prosecutor and friend of the show standing by. again, remember, the longest previous sentence was for a guy named raj rajaratnam of galleon group, that was 11 years. also breaking this hour, americans taking on more debt. is that a good thing? well, the federal reserve says consumer credit is rising. it rose in july at an annual rate of 9.7% to $3.2 trillion, much of it tied to nonrevolving debt, things like student and auto loans. that jumped 10.5% in the month of july. now we're just one hour to go, stocks mostly down but off their worst levels of the day, a turn around of any kind, any move to the upside for the s&p 500 would mark its 34th record close this
3:02 pm
year. right now you can see, though, down about eight points. dow jones industrials losing 39. we had been down about 58. the nasdaq, nasdaq has sort of had the most dramatic swing, i think, because it was up 18, now down 12. granted, while th is bigger for the dow jones industrials, it's the nasdaq that had a decent move to the upside today. and american institution for more than a century, who among us hasn't had a ge appliance at one point or another? i have a fridge. anyway, the appliance business has been sold off to sweden. electrolux is the company out in sweden, the price tag, $3.3 billion this cash. electrolux ceo mclaughlin telling fox business why it makes sense to him. >> kind of a premium brand, and the ge brand fits in that middle architecture, if you will, of ge, ge profile, ge café. so, actually, the portfolio of brands is quite complimentary.
3:03 pm
liz: the loss of the portfolio there when it comes to those brands has not hurt ge for the moment, in fact, the company's flat, hasn't helped either. so going to its core businesses, whatever they may be, ex the appliances, stocks not getting excited here. here's what you need to know in the final countdown toward the closing bell. china is on track to surpass the united states economy by 2024, just a measly ten years, according to this study by ihs. okay, but what does it mean to u.s. companies who are doing already a lot of business china? what does it mean for the american consumer, and what names -- if this is true -- should you now put into your portfolio? we put those questions to ihs' chief economist, and i challenge you to try to play a video on youtube and not see vivo somewhere on the video, maybe in the little bug on the lower part of the screen. getting ready and getting real when it comes to reality hardware.
3:04 pm
they have a game that they say could change the way we watch videos, the way we watch concerts. the vivo president and ceo will be our exclusive guest this hour. and the names that would have made you so much money since just this past july. what maid dan veru of pal said capital management pick those names, and now he is picking a seemingly sleepy industrial met also giant right before it began to assemble a lightweight rocket. dan review here to tell us the name he has never bought in all his years of working on wall street but why he's buying it now. it's already up expo exponentiay since he picked it. we'll get those picks to to you, you can't afford to miss it. let's get back to china's e-commerce giant, alibaba, making its first stop right here in new york city on its path to potentially the largest ipo in history. fox business' jo ling kent live in midtown manhattan at the
3:05 pm
waldorf-astoria getting the inside details on how the company's presentation to potential investors is being received. are they getting people excited? >> they are getting a lot of asset managers and investors very excited. in fact, the quest to raise $21 billion happened right here behind me on the 18th floor, and i want you to see the great video we just got for you. jack ma, the founder and chairman of alibaba, leaving in the meeting just minutes ago a very, very happy man. mobbed by the media. this is a very rich man in china, a celebrity globally, and he left -- and he actually had an incredible theme for this meeting. and here's what it was, it was all about orange. it's orange perspective, the filing statement that they handed out to investors, orange lights, orange presentations. and be what was inside the presentation that potential investors need to know was just fascinating. you can see here we have three major themes. he's all about developing government relationships, he's
3:06 pm
about cultivating cross-border penetration, getting more involved in all of the different business across countries not just in china where they have an 80% penetration rate on the e-commerce market, liz. another thing we want to focus on is the focus on mobile, and investors inside the meeting told me executives are now calling themselves a mobile company. they envision customers using very cheap cell cell phones and accessing the alibaba ecosystem that way, shopping on t-mall, storing their things in the cloud. and a lot of investors walked away very happy. i was standing in the line of more than 500 investors this morning, and a lot of them said we've got to go in there and see what jack says. we've got the money ready, but will we seal the deal? as they came out, one manager said they will be investing based on the executives' presentation today. several hundred million dollars already ready to go, they're just going to crunch the numbers
3:07 pm
and make the payment. so a lot of excitement. the next stop, liz, is boston. liz: this is bigger than fashion avenue, that's all i have -- [laughter] did anybody try and crash the meeting, jo? were there any sort of jack ma @ans? this guy is now bigger than mark zuckerberg. look at that sot. that's unbelievable. he looks happy, doesn't he? >> yeah, he was very happy. and those close to him said that he arrived a couple of days ago or yesterday, and he was very excited to be here. he was ready to kick it off. his associates say that this is the beginning of what a lot of people have been really looking forward to. you have to remember jack ma's story is incredible. he founded the company in the late 1990s with 17 other people in an apartment. this is someone who very much p is trying to live a fairy tale story, and they're dominating in e-commerce in china. a lot of investors, though, skeptical about the long term. can they actually invest in other verticals that will continue to grow? one investor told me search, actually, is a priority.
3:08 pm
liz, you know baidu dominates in china, so we'll see what happens. they head to boston, singapore, los angeles, san francisco, london. they're going everywhere. liz: they're big in boston, i bet. they're big in san francisco. jo, thank you. you know what we decided to do here at fox business? we realize that it's probably going to be very hard for the average retail investor to get in on the alibaba a action ahead of the ipo, so we did a little homework, and the team fox business, team countdown brought up some names like you. yahoo! currently has a 23% stake in the country, japanese telecom giant soft bank has a 34% stake, or you can go the exchange-traded fund route. several etfs will likely add shares soon after the stock's first day of trading including crane shares etf which focuses exclusively on china's tech sector, kweb, and it is up nearly 30% since its debut
3:09 pm
august 2013. so, again, a big day for alibaba next week. now let's broaden the discussion. many tech stocks are rising even though the nasdaq's trying to get back up above the flat line. energy shares are the ones under pressure as oil trades at its lowest level since the month of january, now standing at $92.77 a barrel. for those of us who remember $119 recently, let's get to the floor show. traders at the cme group and the nymex along with nicole petallides on the floor of the new york stock exchange. let's get right to jeff gross match at the nymex because i'm less interested in the price of oil right now, but how it affects consumer and consumer names out there. >> well, again, everyone's very happy.3 i think this summer has been a big boon for anyone who's driving a car going on a vacation here. this is a very big surprise for a lot of people. everyone had predicted, myself not included, that gas prices
3:10 pm
were going to go up. they did come down, and everyone's pretty happy about that. what you have today though was a market that really showed tremendous weakness, like you said, traded down below $92, as a matter of fact, 91.80 was our low in spots. if you want to put any positive spin to the upside, we did settle above one of the major, let's say, pivot points for crude oil which is about $992.5. liz: let me interrupt because there's something wrong with our arbob price. >> i can't hear you, liz. liz: a rbob gasoline, do you have the price at this very second? okay, we lost jeff. let me get to dan howe because i'm sure -- oh, 2.56. okay, $2.56 per gallon for arbob gasoline. that is considerably low when you think about it recent history. so, dan, to you at the cme,
3:11 pm
let's get to equities here. the nasdaq just now turned positive again today, up just about three points at the moment. but what's the psychology going on in the its at the cme? >> well, i mean, the only good news this week is the alibaba ipo as well as the apple conference, and those are going to help the technology stocks. i think the rest of the stocks are kind of worried right now the value of the dollar. the dollar seems to be to going up as an increasingly rapid rate because the other currencies, there seems to be a rush out of the yen, euro and as well as what might happen with the vote over the pound next thursday. i think right now if the dollar continues to go up, that's going to put pressure on not only stocks that like oil stocks that are basically dominated in commodities, dominated in dollars, but also i think a lot of stocks have borrowed against foreign currency holdings to basically buy back stocks in the last couple years. and that could have a major impact if the dollar continues to go up and currency translation becomes an issue at
3:12 pm
the end of the third quarter. liz: well, now the u.k. pound at $1.61. i was just there in june, and it was $1.72. so we have definitely seen that on the move. nicole petallides, we know a lot of u.s. companies that people own right now, investors who are watching are very much affected by the currency trade. but looking at what's happening with equities today, i think the major question probably on the floor is what's the next big catalyst either up or down? >> it's interesting that you say that. trawl, the move in the pound -- first of all, the move in the pound abroad biggest in ten months, so is that's how we wick kicked off this morning. what was interesting, what people are saying here you heard tony dwyer this morning putting out his target on the s&p of 2185. when you talk with traders, they still say the path of least resistance is to the upside. you talked about energy right here on the floor show, and with that, liz, we've seen the transportation index hitting a high today, that would be the truckers, the shippers, the
3:13 pm
airlines. cheaper gasoline does well for those types of companies. so that's the environment we're in. as far as what we're seeing going forward, everybody continues to look to all the economic reports. don't forget the jobs report we got on friday was terrible. and everybody would start to say, well, what would the fed do? maybe they won't raise rates so quickly. but it wasn't as bad as they could have been, so maybe they will raise rates. that leaves everybody in that uncertain area as to what the fed may or may not do. that being said, though, the trends still seem to be the upside until we start to hear otherwise. we've got intel and microsoft hitting new highs. liz: well, see, we've talked about this, and i know all of you guys have been in on these conversations. you can be as annoyed as you wallet, but the fed has basically given us a map, the land scape, and it has been pro-equities at least so far. thanks very much. closing bell ringing in 47 minutes. battle plan against isis. president obama expected to detail, detail a new strategy this week. we are live at the white house
3:14 pm
looking for a preview on what it might look like coming up. and the u.s. economy has been the world's biggest for more than 100 years, but a new report sends a chill down the spine of all american people who find that china may overtake it just ten years from now. what it means for u.s. companies, the money that you have in u.s. companies and our economy, next. ♪ ♪ opportunities aren't always obvious.
3:15 pm
sometimes ey just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances.
3:16 pm
hi, are we still on for tomorrow? tomorrow. quick look at the weather. nice day, beautiful tomorrow. tomorrow is full of promise.
3:17 pm
we can come back tomorrrow. and we promise to keep it that way. driven to preserve the environment, csx moves a ton of freight nearly 450 miles on one gallon of fuel. what a day. can't wait til tomorrow.
3:18 pm
liz: breaking news, we are awaiting e sentencing of former sac trader mathew martoma happening this hour in federal court in new york. this is the man who worked for the big hedge fund in connecticut who was, basically, visited by fbi agents back in 2011 at his 6,000 square foot home in boca raton, florida, where they showed up and said, guess what? we believe that you have been involved in insider trading. a jury later convicted him. he could face up to 20 years in prison. that would be the longest sentence ever for insider trading. we will bring you the news as
3:19 pm
soon as it happens. charlie gasparino is standing by. stay tuned. as soon as it happens, we will let you know. here's a headline that might turn global heads around, according to the latest ihs report, the united states will be knocked off its economic pedestal within just a decade. i already tweeted this, and all these people started e-mailing saying, that's untrue, that's a lie. well, how do you know? ihs, pretty smart people. they say that china will claim the number one spot as the world's biggest economy by the year 2024. they've done all kinds of, you know, mathematic ideas here to figure out what will propel the strong growth in chinese consumer demand. so how will this impact the global economy, but more importantly, investments that you may have or maybe investments you should be making knowing this might happen in advance? which corporations in the u.s. stand to benefit from china's booming growth? joining me now in a fox business exclusive is the man who helped come up with it, ihs chief
3:20 pm
economist. i got so many negative tweets, how could you say that, liz? people are very proud of the united states, and we've been at the top for a hundred years. what is the methodology you use to come up with the idea that they could knock us off the pedestal by 2024? >> well, as you said, it's pretty straightforward arithmetic. they've been growing 10 percent a year for the last 30 years. we think in the next decade they'll grow 7-8 percent. thebe overtaking us in terms of size of economy. but you have to put this in perspective. a lot of that is because they've got more people than we do, almost four times as many people as we do. the typical can chinese only earns one-fifth of what the typical american earns. so you put those two numbers together, you come up with a fairly large number. this is no threat to the united states, it's just simply a virtue of, or a function of the fact that china has more people than we do. liz: okay. well, that's the thing, china may have more people, but china
3:21 pm
also has what appears to be a slowing consumer economy. meaning we just got numbers about imports and exports. sure, they're exporting a lot, but they're importing less than expected for the most recent numbers. that makes me say what's wrong with the chinese consumer? >> well, the reason the consumer spending's slowing largely has to do with the kind of problem we went through about five or six years ago, they've got a housing crash going. housing's in serious trouble. it was a bubble, it's bursting, and that's hurting consumer wealth which in turn is hurting consumer spending. china's going through a major adjustment in the next year or two, but that doesn't detract from the fact long term china will probably grow faster as we in the u.s. will, maybe twice as fast. so eventually, they will overtake us. liz: when you say housing crash, all can think of is what our housing crash did to the global economy. will theirs spread massive hail and wind storms and rain across
3:22 pm
the world? what will it do to us if they have a housing crash? >> well, first of all, we are nowhere near as dependent on china as other countries, for example, taiwan or even japan. we don't export that much to china. even if they go through a housing crash, which it looks like they're going to, it's not going to affect us that much. a little bit, but not that much. but, yeah, it will, clearly, it's going to have an effect on those economies which are most feint on china -- dependent on china, and especially the commodity-exporting emerging markets in africa and latin america. liz: hey, i don't want really care if it's true or not, but, of course, i don't want america to lose its standing, but let's believe the survey. what are the names of the companies that people might be smart to be investing in right now that have a huge chinese footprint but are based here in the u.s.? >> well, for china to achieve that kind of growth, they're going to need to reorient their economy towards a more
3:23 pm
consumer-based economy. any consumer company, especially high-end companies, things like high-tech companies, the apples of this world, the ciscos, the ibms of this world, these are companies that are going to benefit from a growing china and a big china. so mostly high-tech, mostly high-end consumer companies will do very well. liz: okay. so ibm, for example, apple, cisco, but, you know, we looked at u.s. companies with large exposure to china beyond that, there's yum brands, qualcomm is very big over there, micron technology, sandisk. i know a lot of our viewers either invest in these or could benefit from them if this does, indeed can, come to pass. let's not forget corning incorporated too. a big, big exposure to china. good to see you. thank you so much. >> thank you. liz: some of my twitter followers are very upset by him saying china may take over the u.s. as far as the largest economy by 2024. closing bell ringing in 37 minutes. the the latest win in the gaming
3:24 pm
industry war: the battle for twitch ended with amazon. so why did the ceo turn down google to go with amazon? the e-commerce giant? risk and reward anchor deirdre bolton has the answer in her interview with the ceo. and did you miss out on scoring ticket toss that last hot concert of the summer? maybe the rolling stones? well, vivo has got a virtual solution for you. you don't want to miss vivo's next act. we have an exclusive interview. can you say 3-d in the privacy of your own home? ♪ ♪
3:25 pm
3:26 pm
hard it can .to breathe with copd? it can feel like this. copd includes chronic bronchitis and emphysema. spiriva is a once-daily inhaled... ...copd maintenance treatment... ...that helps open my airways for a full 24 hours. you know, spiriva helps me breathe easier. spiriva handihaler tiotropium bromide inhalation powder does not replace rescue inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taking spiriva and seek immediate medical help if your breathing suddenly worsens, your throat or tongue swells,... you can get hives, vision changes or eye pain,
3:27 pm
or problems passinurine. other side effects include dry mouth and constipation. nothing can reverse copd. spiriva helps me breathe better. sfx: blowing sound. does breathing with copd... ...weigh you down? don't wait ask your doctor about spiriva handihaler. i wish... please, please, please, please, please. [ male announcer ] the wish we wish above health. so we quit selling cigarettes in our cvs pharmacies. expanded minuteclinic, for walk-in medical care. and created programs that encourage people to take their medications regularly. introducing cvs health. a new purpose. a new promise... to help all those wishes come true. cvs health. because health is everything. (agenent) i'll walk you guys through every ste there are a lot of buyers for a house like yours. (husband) that's good to know.
3:28 pm
>> amazon is betting big on the gaming industry. it is coming up with nearly a billion dollars or $917 million to be exact to make the biggest acquisition in the country's cos
3:29 pm
history. it is twitch, allowing users to broadcast their games and watch others playing video games. i think this is sort of under the "get a life" level, but amazon things it is going to be profitable before coming out on top in this unbelievable bidding war. deirdre bolton landed the big interview with twitch ceo and founder. fascinating. >> who knew not only would people want to play video games but they would want to watch other people play video games. the billion dollars price tag answers the question. who would want to do this? apparently a lot of people. people watch professional sports players, how is this that much different, but you said it, he had the choice between google, yahoo and amazon.
3:30 pm
i asked why he chose amazon, this is what he told me. >> amazon was a good choice for twitch because a shared vision, they really understand the gaming industry. i know they make video games, they sell video games, they have a set of services that more than half of the game developers today actively use for developing video games so amazon is deeply into the gaming industry in a way that was attractive. they understood the twitch story, and on the other side the deal with amazon gives us independents and remain the ceo of a fully owned subsidiary of twitch. we are owned by amazon, but the opportunity to continue running twitch with our management team and our strategy is attractive.
3:31 pm
the support to move faster was a huge win for our point of view. deirdre: you heard him say basically amazon is letting me stay independent and creative and for all these companies that gets purchased by amazon, google, yahoo, they want their independence. that has been a big struggle especially with tumbler, you heard him say amazon is letting me do my thing. liz: i found it interesting don't count out the pc or desktop. >deirdre: i was on surprised to. liz: deirdre bolton, thank you very much. tune in tomorrow and all week at 1:00 p.m. eastern, on coverage of the unveiling of apple's new iphone. digging deep into the aspects of
3:32 pm
what you should be considering. the closing bell in 28 and a half minutes. it may not be all good news for stocks, you need to watch out for a bond bull market retreat. when it happens, he knows exactly how you should play it. keep it here to pla see it. and virttal ticket to any concerts in the world, video platform changing the way you watch music and will soon change how you experience it. i don't know if they can give you the smell of what happens at a concert but the interview up next. it's monday.
3:33 pm
a brand new start. your chance to rise and shine. with centurylink as your trusted technology partner, you can do just that. with our visionary cloud infrastructure, global broadband network and custom communications solutions, your business is more reliable - secure - agile. and with responsive, dedicated suppt, we help you shine more reliaevery day of the week.
3:34 pm
watch this. sam always gives you the good news in person, bad news in email. good news -- fedex has flat rate shipping. it's called fedex one rate. and it's affordable. sounds great. [ cell phone typing ] [ typing continues ] [ whoosh ] [ cell phones buzz, chirp ] and we have to wk the weekend. great. more good news -- it's friday! woo! [ male announcer ] ship a pak via fedex express saver® for as low as $7.50.
3:35 pm
3:36 pm
3:37 pm
liz: we're still awaiting sec trader. people have gone the courtroom but it is happening right now, he could get up to 20 years in prison. no cameras allowed inside federal court but we have people staying by to bring in the news as soon as it happens, stay tuned. could be a very major headline decision. is it too little too late? president obama has been criticized by those who feel he is not taking strong enough stance against the terrorist organization isis that is spreading across iraq and syria. seeking congressional backing that he will lay out later this week, a strategy he believes will defeat the militant group.
3:38 pm
congress returns after a five-week recess. will the plan enough to restore faith handling of the situation and what will it mean overall for the market which is very susceptible sometimes to headlines on this. joining us for the latest details which of course we are waiting for congress to get hold of what w will be detailed. >> correctional leaders will get a preview of that tomorrow when president obama reaches the party. he is looking for congressional backing but he doesn't necessarily need congressional authorization. that is unclear if he's going to ask for authorization or funding. as for what the white house is going to do, a white house has been previewing a strategy, a month-long strategy that involves international coalition building and one they have ruled out putting u.s. troops in syria. >> the president in the
3:39 pm
interview we are citing described it as a profound mistake to commit american combat boots to being on the ground in syria. this is not a fight the united states can take on for them. >> party coalition building, john kerry leaves for the middle east this week, congressional leaders have been reacting to what they've heard thus far. the president's strategy to train and equipped military pulling out and drawing down the congressional forces across the globe is not attainable. and for the president's address on wednesday. liz: i would like to hear their better idea. we have to hear more of them, definitely. thank you very much. you want to see a concert but you couldn't get the ticket, it was too hot for you didn't feel like paying the money. the good news is vivo is here.
3:40 pm
it in essence is owned by partners like sony and google and universal but now it has a new partner. samsung and the new virtual reality technology combining samsung virtual-reality with the exclusive concert footage and you have more money, you may never have to buy another concert tickets. here for an exclusive peek into the technology, welcome back. you are the man, striking a deal is fascinating, tell me how came about. >> thank you. it came about because imagine being on stage at a coldplay concert, you look to your left and you look to the right, you're on stage, you feel like you are there. all of that is possible now with what oculous is doing and the
3:41 pm
partnership with samsung. we figured we should find a way to be a part of this not only to shoot new shows but make it a personal home theater experien experience, 360, 3d and totally navigable to make it better than ever before. liz: i can just imagine if it appears she is right there and the dancers are surrounding you but my era i am thinking peter francis. can you imagine with the blond hair coming through. how many concerts will be available for people to choose from? >> we are starting with making our entire library available in a home theater experience so if you where the samsung gear, you can see everything in a virtual 100-foot screen in front of you. and we will start shooting music videos and concerts to take advantage of the unique virtual-reality aspect, but it will be a little slow, every day
3:42 pm
you are going to see more and more content become available. liz: how much would it cost? >> right now this will be free for viewers and we are going to bring sponsors to the table to help underwrite it. most people have never experienced this before, so it is about reaching a large of an audience as possible not trying to make it hard to get more expensive. it is about expanding. liz: i'm looking at taylor swift dancing around in this guy going airborne. 6 billion monthly views. you guys kind of for-sal for sad suddenly when the owners realized we could make so much money anyway simply by operating, they take you off the market. how far can this go, what is next for vevo?
3:43 pm
>> i think what is really exploding for us is the television. so the apps on apple tv, xbox, roku up over 200% year-over-year. 7 billion streams per month over the total platforms, 100 per year. which is really crazy. when we launched we were only 300 million less than five years ago, so it has really exploded. for us it is more international expansion, more countries and platforms, more tv original shows, this fall launching over 100 episodes of vevo original shows. with new personalities, so it is a big investment for the company and our own are universal, google, have all determined we are a key strategic asset for them and they are really investing in our growth. liz: i'm already getting e-mails
3:44 pm
from people who want to be front and center. rio caraeff, vevo ceo and president. good luck with your new partnership. good luck. >> thank you. liz: the closing bell ringing in 15 minutes. alcoa on a tear. a one year chart, quietly on the move. buying shares the first time ever. why aluminum is now a front spot in the portfolio and should be your spirit 5 billion in assets under management joining us next and while the market close at the top of the hour, we are always on call for you. late breaking stuff what appears to be this verdict on the
3:45 pm
sentencing of matthew. stay tuned. there was no question she was the one. she reminds you every day. but your erectile dysfunction-that could be a question of blood flow. cialis for daily use helps you be ready anytime the moment is right. you can be more confident in your ability to be ready. and the same cialis is also the only daily ed tablet approved to treat symptoms of bph, like needing to go frequently or urgently.
3:46 pm
tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, as it may cause an unsafe op in blood pressure. do not drink alcohol in excess. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, get medical help right away for an erection lasting more than four hours. if you have any sudden decrease or loss in hearing or vision, or any symptoms of an allergic reaction, stop taking cialis and get medical help right away. ask your doctor about cialis for daily use and a free 30-tablet trial.
3:47 pm
3:48 pm
3:49 pm
liz: breaking news. there are now some news pieces coming out of the sentencing a former sec trader matthew martoma. we do not yet know how many years he expected to spend in prison for inside insider-tradit word is he is being forced to forfeit $9.38 million, which would be a bonus he got in from it so well at sac capital using some of the insider-trading to land big names like the
3:50 pm
pharmaceutical names he is accused and convicted of insider trading. he could spend 20 years in prison as soon as we get the number, we will let you know. how many if you have thought at one point or another i have a million dollars idea to start a company. that is a consummate american dream type of thing, right? but the hotbed of where those ideas sprouted have taken rout e is i in the central valley. i will take you there live, california for the top dream makers pick their winners. fox business get exclusive access to one of the best in business since 1965. given names like facebook and instagram, even staples,
3:51 pm
linkedin, there are only four publicly traded tech companies in the last 10 years currently worth $10 billion or more and among the earliest backers of three of the four. all day wednesday open the curtain exclusively to us and you to reveal what he believes will be the next big thing. my next guest says that is about to change, little incentive for any of your money in bond funds, he says. chief investment officer. are you saying we're going to face a bond bear market? >> think about if you are a
3:52 pm
stock investor. what have i seen. i have seen the bust of 1990, the asia crisis for the late 90s including long-term capital management as well. the grand daddy of all in 2008, the ten-year treasury with fielding 12.5% when i got into the business. dinosaurs were roaming the earth, it has been a while. just psychology would say nobody calibrated for sustainable time where the bonds could be strike capital, and i'm afraid there will be less sophisticated investors will get the money
3:53 pm
back when it matures, but i am not talking about those sort of things, simply invested in things simply because of yield including master limited partners, others that are less liquid. etf have made it so easy to move money around very rapidly in the less liquid segments. liz: let's say what will be a great place to put your money right now. you, just in august, bought a stock you had never bought before for your portfolio, what is that name and why are you going into it now? >> it is alcoa. the first company that reports every earnings season, we think this is a business that is really changed. historically had to play the aluminum cycles but there are some real secular long-term
3:54 pm
shifts. a new car is predominantly made out of aluminum. ford line of trucks are going to be the aluminum content is going up significantly across the line. and you look at airspace acquisition. taking the the near term boom and bust cycle that used to be kind of the background for aluminum making it a long-term play. >> it has done very well. it is up pretty significantly since you bought it, but just now getting back to the five year high. you believe it will best that and move higher. >> it was 40 before the financial crisis so we think they are allocating capital more effectively, doing all the things that would make it be more than attractive long-term
3:55 pm
hold versus trading, trade out. liz: taking alcoa and say watch out for the bond bear market. we should let you in the viewers know tomorrow jeff flock will get a ride along in the all aluminum f-150. good to see you. again, w we're waiting the sentencing of mathew martoma formerly of sac capital bid the closing bell is five minutes away. and apple shares losing ground the last three of the four sessionssahead of the apple unveil be ed are apple selling on the news when they should be buying? a closer look next. om alaska, they think salmon and energy. but the energy bp produces up here creates something else as well: jobs all over america. engineering and innovation jobs. advanced safety systems & technology. shipping and manufacturing. across the united states, bp supports more than a quarter million jobs. when we set up operation in one part of the country,
3:56 pm
people in other parts go to work. that's not a coincidence. it's one more part of our commitment to america.
3:57 pm
3:58 pm
[ bell ringing, applause ] five tech stocks with more th a 10%... change in after-market trading. ♪ all the tech stocks with a market cap... of at least 50 billion... are up on the day. 12 low-volume stocks... breaking into 52-week highs. six upcoming earnings plays... that recently gapped up. [ male announcer ] now the world is your trading floor. get real-time market scanning whever you are with the mobile trader app. from td ameritrade. liz: two out of four ain't bad. nasdaq and russell 2000 are to the plus side. right now the dow and s&p can't
3:59 pm
quite make it there. david: oil is also way down. that is bad for oil traders. might eventually be good for the economist let's go to nicole petallides at new york stock exchange. talk about the brent oil. we focus on west texas. this brent oil is down below 100 for the first time more than a year. big drop. >> that's huge. look at globally, abroad, particular, below 100 bucks, first time since june of 2013. energy has been weak this quarter. weaker to the downside. global growth slowing. ukraine cease-fire, stronger dollar. those are some of the reasons we're seeing energy under pressure. liz: how about a 2 and 2/3's jump for boeing leading dow higher. 11 billion-dollar deal. >> a deal with ryanair helping them along. that one reason. "barron's" bounce, potential up side to 150 bucks. either one of those would give them a pop.
4:00 pm
david: yahoo! up on alibaba. >> why not. new highs. [closing bell ringing] david: kind of a mixed day in trading. in fact market information on individual stocks, individual sectors. you see the nasdaq still posted a gain, solid gain. not very healthy one. russell 20:00 up a tick. -- 2000. brought down on s&p and individual stock values that got hit today. really important day for indices on particular stocks. we'll go through all the dias "after the bell" starts right now. liz: as we've been mentioning in the last hour we're awaiting news of the real actual sentencing of mathew martoma, the former sac capital trader. insider trading is the charge. he was convicted. let's break down today's action. michael binger, grade i can't investor senior portfolio manage


info Stream Only

Uploaded by TV Archive on