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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  December 1, 2014 3:00pm-4:01pm EST

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cyber monday. a lot of tech leading stocks lower today. we'll see how the day finishes. "countdown" with liz claman starts now. liz: yeah, the nasdaq is really struggling, but as we try to decipher all the black friday sales analysis we're reminded about the princess bride. >> the cliffs of insanity. liz: to hear all the doomsday predictions and hysteria about whether the shopping season had disappointed. one major key survey reported an 11 percent drop in black friday and weekend shopping. that doesn't sound good, but there are other reports. some are suggesting that the holiday shopping season is anything, but a loss. which is the truth? as we look at competing points of view out there
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including this one, black friday sales began just a lot sooner than past years, we will separate fact from fiction. it's more than just fun and intense games. gamestop trying to outsmart all the other retailers they backed up their calendar by a full eight days. did it work? bring in superhero sales. we'll bring those questions to tony, he's here exclusively. right now, as the markets fight through very heavy volume. trending higher. it's the last hour of trading. you know anything can happen. so let's start the "countdown." whether you believe the reports that retail sales are down or they're flat, one thing is for sure, unless you're a pawn shop,
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you're not accepting gold as currency today, but maybe you should. the precious metal setting some major investor love into high gear. gold, look at this, jumping $35.60 gain. but gold has been down about 2 percent so far this year. the us dollar, that's been the better investment. as you look at this picture here comparing the two. so is now the time to pile in when the going is cheap for gold? let's get to the floor show. scott, the day after black friday weekend, we're looking at skyrocketing gold for a host of six different reasons. japan got downgraded. india lowering its gold tax. lots of weird stuff. maybe we shouldn't be looking at that. what are you and the traders focusing on on the floor? scott. >> something yoas you said, so y different things to focus on.
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traders are looking at technicals. gold trapped in the down trend. last two weeks, gave a pulse. friday, very weak close. everyone was tweeting how it was down two and a half percent. you had this violent upside move. if gold can hold between 1200 an ounce, i think the next level we can see 12.70 to 13 cents. liz: i know you're looking at oil. that's a big story as well. the comb exguys are a floor above you. they're above you. right? >> no, they're right to the side of us. there's a lot more room nowadays. (?) liz: fewer traders. here's oil jumping 2.97. the low of the session for those of you who were not up early. this is unbelievable. oil was at 63 -- >> 63.75. made a new low. could have brought new shorts in the market.
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raise in open interest. raising of margins also. five dollars above that level right now. this happens commonly where you make a long term low and all of a sudden we're back. i would expect to test the $70 right now. liz: that's not too far away. >> no, it's not. liz: what happened to commodities over the weekend? they suddenly looked like a better trade? does this have a longer opportunity? is this a 1-day situation. >> i look at it as a longer opportunity. i was especially watching gold yesterday when the market reopened we found out the swiss wouldn't bump up to 20 percent. that brought the prices skyrocketing down. 11.41 was the low of the day for the january contract. the buyers saw that. they started coming in. then the reports coming in from india. india askin saying we won't raise the tariff. actually we are. let's see what we can
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do. we'll make our money off this one way or another. again, the buyer started coming. i believe we saw a high of 12.19 on the january contract this afternoon. we had an almost 80-dollar move in a 20-hour session. a lot after people are waiting for gold to hit these lower levels. liz: equities. do you think -- >> i don't think it's one-day. liz: you think it's going longer than that? y i believe we'll see that the 12.70. probably 13.25 in a short amount after time. gold is hovering way too low. (?) russia is stocking up. you have the other countries building up their inventories because their currencies are dropping. japan, watch japan start getting in. liz: i barely touched on it. japan got downgraded. let's get to stocks at the moment. the dow jones industrials was down
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102-point. we've come fighting back. we're down just 29. we're seeing some resilience. do equities remain the place to be leading to december? >> they've been the place to be all year. so recently we've been trying to watch the trend. the accelerated trend. the first time spx is below the eight day today. it will be interesting to see what will happen. i think some short-term traders are looking 2,065 on the spx. maybe we can do more sideways action. if we close above that, shorts are still trapped. probably will stay with the same exposure. liz: shorts are trapped. every time someone bets against this market, they get burnt, singed. their eye lashes get singed. at some point, we're going to see a correction. later on in the show, you guys have to hear
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jack. he has 65 billion in assets. he believes that you should start midway through december amassing some cash so that you're ready for a correction in the middle of the year. does that sound realistic? >> boy, does that ever. we're looking at light volumes to the end of the year. after the holidays, you'll see people rubbing their hands together. it will be buying time all over again. let the bulls reign in. liz: all right. we'll see what happens. oil is up about $3..02. we remind people it was 63 and change today. now, i take regular gasoline in my car. i love that. >> i think you'll see more of it. liz: all right. we'll watch all of it. thank you, gentlemen. a beginning here. we're far from down on this cyber monday. it's not santa's elves
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packing your holiday items, but an army of -- [no audio] amazon purchased some two years ago for about $775 million. are they efficient? will it pay off? and all those returns? you're right there live in tracy, california. don't get hit by one of those. [laughter] >> yeah, exactly, liz. we're trying not to. they're incredibly smart robots. thousands of them at the amazon fulfillment center. i want to show you how it works. that's why we brought in the senior vice president dave clark. we're at one of the -- [no audio]
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>> we got ps4 games. yoga block. coffee. wwe wrestlers at the top. >> there's so much stuff, the efficiency is much higher. does this mean amazon will hire less workers? >> absolutely not. this site is a new site. we've hired 1500 new employees in this site. 2500 holiday employees helping us.
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we'll add hundreds of them on the payroll. >> one analyst said amazon could save up to $900 million a year because of these roberts. so do you think this is actually worth the money and the efficiency here? >> well, we're really happy with the economics of the acquisition. it's a great team. it's been a great process of boarding them as part of the company. we have a brought execution with 15 robots. there's two pieces where we get efficiencies from this. one, we get 15 percent more inventory. 15 percent more of the inventory you're seeing along with three and a half more million in this site. this will help us with our capital efficiency opening building. we're obviously getting economic savings on the process of how many people -- how we use the actual process. much less walking involved. what you're seeing, all direct work, everything
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he's doing is about the customer right now. where, before there was a lot of walk. >> fascinating stuff. dave clark. thank you so much for joining us. liz, it's so big, they've basically increased their stuff to 59 football field worth of stuff you can order for the holiday. liz: the innovation it took to create that system, it's amazing. props to amazon for snatching up the company and saying, you know what, we'll own it. that's amazing. hanukkah candles, throw in a blowdryer and a couple of penny -- thanks for hosting us. we're about 45 minutes away from the closing bell. gamestop trying to jump-start its black friday sales by slashing prices and offering all kinds of deals. but way earlier than everybody else. eight full days earlier. did it work? guess what we've got
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gamestop president tony in a fox business exclusive to tell us how they fared. did they hit their targets? and sony gets hacked. several yet to be released movies ended up being downloaded. a huge loss of money. was the plot to one of those movies to assassinate an unpredictable dictator the real reason behind the attacks. we're looking into that. stay tuned
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liz: i started getting emails over the weekend. the headlines were shocking as we watched for black friday sales. it was according to the national retail federation holiday sales down 11 percent. that's what they said. but then analysts started weighing in. they said online trends are picking up. and the retail picture is anything, but bleak. they said that investors should take advantage of this false headline. ibm chimed in and said sales were up 11 percent. so what does this mean? how are you supposed to read this for retailers
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particularly for retailers like gamestop whose main business comes from brick and mortar stores. this stock is up some 230 percent. but as gaming shifts to the digital platform, clearly the brick and mortar powerhouse is trying to do things differently to try and keep up. joining us now, tony bartel, to tell us how your plan, tony, which i thought was aggressive, to start early deals a full seven to eight days ahead of time. how did your numbers come in. >> happy cyber monday to you, liz. yes, we were very excited to spread out our week. we started last sunday with i family event. we had a strong launch of nintendo products. we brought in all our stores a special event. it raised our market share significantly approximate anandhelped us spree
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sales throughout the entire week. we knew we would allow our associates to take all of thanksgiving off, and so by moving some of those sales forward, we actually outperformed what we're reading from other analysts about the week. liz: that's your headline. you outperformed what the analysts are going to say you did. i'm looking at some of the deals you started offering on what you called this family opportunity, i believe. right? the black friday family opportunity -- >> yes. twenty dollars off all disney infinity starter packs. a lot of discounting. fifty dollars off samsung galaxy tabs. how did that business hours do? >> the recommerce business has been a key strength. not only does it provide a lot of opportunity to bring in new currency to get new tablets and new phones. we're able to turn around and sell that. (?) that's been strong
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business for us as well. liz: let's get ama get a macro . i know you probably got retail sales numbers. how did traffic look? >> clearly, on black friday, it didn't turn out exactly as we expected. on black friday itself, we actually performed like what you're hearing lots of retailers are saying. we moved some of those forward in the retail week you talked about and on saturday and sunday, we saw strong growth took place. remember, last year, we were right in the midst of the largest console launch ever and we sold mother than anyone did on black friday last year. liz: the console business i find interesting because these are not cheap products. $300, a couple hundred dollars here. the console sales, you don't have new ones this time around. how are they looking going into the holidays?
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>> they're looking strong. this console launch is up double than the last one was. we have the highest hardware market share and a 50 percent market share on xbox and ps share. we are very, very well-positioned to take advantage of these new on consoles. liz: you have this great buy, sell opportunity here. i think that's great you've owned it. here comes walmart and other companies trying to do that too. how long do people keep a game before they turn it in? is there an average? >> it varies based on the quality of the game. a great quality game will stay in the hands a little longer. a game not of the same quality will come back a little quirk quicker. we tend to get games back in the 60-day time frame. thirty to 60-day time
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frame. you see a cycle of -- liz: people get bored fast. >> not only do you see them coming back at one time, you see them coming back over and over again. that's what will prolong that average. liz: are you going to sell any of your brick and mortar stores. do you feel that's the way to go? you don't worry that will be the blockbuster 2.0. where they seem to own it, but then it shuts down. >> we still see a robust business in our brick and mortar stores, but we have opportunities in technology business to take some of the gamestop stores and move them into a string spring mobile or a mac store. liz: something tells me it worked out well for you to pull the trigger on black friday sales and pushing that. tony bart h bart he will.
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it's a false -- he thinks they underestimated how well that company has done. closing bell ringing in 39 minutes. coming up, a hot new ipo that you need to know about, but most likely you haven't heard a lot about. charlie gasparino has brand-new behind the scenes details as bankers are competing to grab their portion of what could be tens of millions of dollars of fees from this potential ipo. what is it? can you get in? how to prevent a holiday hack attack. what you need to know. do not press your mouse or keyboard one more time until you see this segment. it will protect you on this cyber monday.
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liz: wall street's top firms believe the initial public offering of first data corps. little known processing
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company could be a lucrative deal. >> we should talk about why it's little known now. first data has been around for a long time. it was taken private by kkr in 2007. kind of just before the -- kk bought it for $30 billion. now, what we understand kkr wants essentially to get rid of it. it wants to ipo this thing. run by frank, the ceo of first data. long time executive. worked for jpmorgan. here's what we know. bankers are meeting with frank to talk about a potential ipo. they're saying, this may not be the biggest ipo. it's not going to be facebook. the fees could be enormous on this. $40 million on fees. why is that? they're not only going to do the ipo, they're going to restructure a lot of debt. very high coupon debt out there. you have just about every wall street banker
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knocking on frank's door, and he knows them all, and saying we want a piece of this action. is it written in stone that they will do this ipo? no, but they're clearly moving in that direction. they believe, the bankers believe that this thing is set to do an ipo in the next 12 months because kkr really wants to get rid of this thing. apparently, this is from my banker sources, first data represents 10 percent of kkr's balance sheet. by far, its biggest investment. liz: shined it up. did great things with it. this is how private equity works. >> this investment was under water for a long time. did a major capital -- signaling they wanted to take down the debt a little bit. fix the balance sheet. sell it at some point. the rubber is meeting the road now. they will need to confirm or deny it --
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particularly won't deny, but clearly according to bankers -- liz: what do they do? >> process credit cards and other -- not data processing, but payment processing -- for merchant and banks. >> i remember when frank went there and he left under good terms with jamie dimon, but he started taking some employees. >> frank, i guess, they reached -- they reached some settlement that was essentially disclosed in some filings from jpmorgan. i know frank pretty well. he's a jamie. guy. worked for jamie a long time. liz: can the average guy get in on this? that's so hard. >> i don't know. i know that kkr -- we're a little early on how the little guy will play in this. liz: they often get stampeded.
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>> kkr is a public company. selling this thing in a decent way to kind of make up for the investment they put into it will be good for that stock. that's part of the story. liz: you've been a champion of the little guy and how they get stampeded. lately with alibaba, it jumped up. had any little guy gotten in when they fell, they would have done good. >> stay away from the ipo day. if we're talking about broadly ipos, you'll get squashed. they bought it at 100. you made six bucks on the stock. not great. liz: if you looked at it from the ipo, you would see it was high. then it plummeted then you pick it up. >> this thing on the ipo date went as high as
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100. 106 right now. if you bought it on that day, you didn't do that great. liz: first data. watch out for that one. >> frank becoming the ceo of the company. interesting. liz: closing bell ringing in exactly 29 minutes. the most recent victim of cyber attacks. not a gigantic retail chain, but sony pictures cost five unreleased movies to be downloaded, thrown out there to the public. does the motive have something to do with art imtating life? we have the answers. on this busiest shopping day of the year you need to shop what you're doing. there are vulnerable shoppers out there, and guess who is there to protect them from the onslaught of hack attacks. patrick peterson joining me next in a fox business exclusive. he's the guy behind
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agary. wait until you see some of the fake emails you need to watch out for
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liz: don't mess with kim jong-un. sony pictures is investigating whether north korea is behind a massive hack attack that caused the illegal distribution of sony films. north korea is obsessed with films. kim jong-il had a collection of more than 20,000 hollywood dvds many of them probably fake.
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in the 1970s, kim allegedly kidnapped two south korea directors to remake godzilla to force them to. adam shapiro on the story. >> so the north korean government actually put out on one o one of their web pages. sony pictures is going to release on christmas a film called the interview. it stars james franco and seth rogan in a comedy plot where they're hired by the cia to kill kim jong-un. it's an assassination. the north koreans on their website said they called the interview, quote, a provocation deserving stern punishment. hollywood was shaking in their boots. they pulled the release date. there's a belief on the part of sony that the north korean government along with 3,000 hackers
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in china that go by the name of guardians of peace hacked sony pictures. shut down the computer system, but stole those films which were being downloaded. take a look at what got north korea so upset. >> you want us to kill the leader of north korea. what? >> don't touch it. >> katy perry. i've never heard this before in my life. >> i love katy perry. >> shoot across the sky, sky, sky. >> this could do wonders for kim jong-un. liz: i love this thing already. >> sony -- we've shown the clip. a lot of people talking about this. the serious issue, that those films that got hacked. one film already out. brad pitt's fury came out, 800,000 downloads. illegal downloads. liz: that's a big deal. >> sony not happy about that. they put out a statement. it was hacked 120,000
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downloads. liz: that's not even out. >> here's what sony said. the theft of sony pictures content is a criminal matter we're working closely with fbi to address it. they've confirmed that. if you've downloaded one of these -- we have precedent, they went after people who downloaded music years ago. they hired, fireeye to get their computers back up. liz: hacking will be very, very negative for a lot of businesses in america. i'm glad you brought this up. we'll be talking about that in just a minute. adam, thank you very much. okay. we have about 20 minutes before the closing bell rings. stocks heading into the final month of the year at near-record highs. what will the rest of 2014, not much of it, but the rest of it bring for you and your money. should you be doing one thing now to prepare yourself for what might happen after the first of the year? two major money managers
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with some differing takes about the road ahead. they are sharing their vision for free with you exclusively. and while the markets close at the top of the hour, we are always on call for you. go to sign up for claman on call. we deliver in case you missed the last hour of trade or what happened after the close, we deliver the biggest headlines of the day directly to your smart phone music ♪
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liz: you might say this year has been a gold mine of hackers. no industry has been able to outsmart the cyber threat. as hackers plan their
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next move, how can you protect yourself? before you shop anymore online, you need to hear this exclusive interview for tips on how to protect your finances and avoid being the next hacking victim. patrick peterson from agari is here with us. you guys now parse through 6 billion messages a day looking for malicious software and emails. what are you turning up on this cyber monday? >> unfortunately, liz, we're turning up a lot of criminals being very naughty, but it's us getting the coal stuffed in our stockings. most recently, we see while the black friday results here in the states aren't quite what people hoped for, the criminals had their own black friday specials. they had discounts, charity donations, their registers were ringing off the hook. unfortunately, it's our credit cards ringing up their registers. that's one thing we've seen for the bad guys.
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liz: the best way to prepare people is to show them what to look for. tell me, one or two of the most egregious and tricky and conniving emails you've seen so far and describe them. and we got to show people these things. rather stunning how unbelievably realistic they look. >> one of the examples we've seen and, unfortunately, consumers have seen it as well, is very traditional retail phishing. they send it to you, we couldn't complete this transaction. please click here to give us information. you go to click on walmart, you're supposed to download a document, when you download the document, they infect your computer. liz: i want to keep this up. everyone look at this. it has the logo. it looks very professional. but if you check on some of these things, you'll find misspellings, grammatical errors. look at the last line,
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deducted before you order was booked. it should have been your order. what happens if you press open and open this file? >> you're actually letting the criminals install software or malicious software, malware as we call it, on your and you're the. they'll mine your hard drive for passwords. they get the keys to your online kingdom. liz: what else should we be looking for? again, this is a hackers heaven. i don't think you can depend on the retailers to protect you at this point. what are the other tricks you've seen owe out there that people should look for. >> another typical one we see say shipping notification that says we couldn't deliver your package. click here to have it downloaded. we see a lot of travel emails that is, we've booked your travel here's your receipt for sometimes thousands of dollars all to click and give your professional
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information or infect your computer with one of those attachments not from walmart. liz: you can see the companies now that said whatever agari is doing we want in. it's helping. if you can sift through 6 billion a day. look at the lists of companies paying you. some of these companies like jpmorgan have become victims and have come to you. have you saved the netflix of the worlds, the googles, to make sure they're not victim to any of this? >> we have. and one of the really important things, i think, for your viewers is, agari is one of the people behind it. we have an entire ecosystem, the google, yahoos are fighting the good fight with us. now, we're actually making sure no bad guys can impersonate those brands like facebook and google. thieves they've seen a reduction
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of people clicking on the wrong link. liz: i want to put up on our the things you talked about. we'll put that list up so that people can basically educate themselves. good work you're doing. thank you so much. >> thank you much. my pleasure. liz: agari is the company. 6 billion emails they intercept. when it comes to drafting the money book, which way should the investor lean. mid-small caps or cash? take a look and see how each index has performed. look at large caps. they've returned a very respectable 11 percent. the mid-cap index posting six digital gains then small caps. they dipped into negative territory for the year. should you stick with the large cap bull bandwagon or buy on the
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dip? something go where the crowd isn't. jack. chief investment officer, and don, ridge worth equity fund portfolio manager. don, you're a little more bullish than jack is at the moment. let's keep it macro for a second. why do you feel there's more to run here when we've had great opportunities so far this year? >> well, just the fundamentals, liz. we focus on the fundamentals of the companies. we look at corporate balance sheets in great shape. earnings in line, slightly exceeding expectations. we look forward 12 months and we see an enticing environment for equities. food energy going down. the good inflation going up. we think from a macro perspective when you put all this into your soup, you should have a pretty good environment for equities the next 12 to 18 months.
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liz: so you are stretching that out. jack, you were pretty much fully invested in large caps. will that change? >> well, we're still riding that wave. it's funny. remarkably, i agree completely with don. the fundamental or at least the backdrop is good and improving. my concern, however, is that the last time equities in the us were, quote, unquote, fairly priced relative to that fundamental backdrop was probably in the second quarter 2013. incidence is that time, we've had a huge run based on on a liquidity surge. we've now become somewhat untethered from fundamental valuation. valuation by itself is not a timing tool. it is millimete, in my view, the biggest tailwind going into 2015. >> you're going to raise some cash. in the next couple of weeks to prepare for what you believe is a
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correction after the first of the year. should the average person be doing that? >> sure. thankfully big believers in large caps. (?) we maximally small cap going into 2014, small caps we felt were dangerously overvalued. what i'm going to do is wait for momentum which is one of the last legs holding this market together to start to falter. if i see momentum roll over, perhaps the market crosses to its 200 day moving average. by the way, it's rising at roughly 13 percent so it's keeping the market on a pretty close leash, if i start to see that roll over, that will be my indicator to say, okay, let's raise some cash. reassess. perhaps at that time, maybe we get good news overseas. maybe those economies lift. we'll get some momentum
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from those markets and shift abroad. liz: let me shift to don. you've outperformed the benchmark which is mid-cap, russell, value. some names interesting. you have mattel, sandisk, amayor prize, you have three big names. why do you think that's a place you should remain after a decent runoff. >> we like the fundamentals. (?) again, we're bottom up fundamental pickers at the end of the day. dividends, valuation, and fundamentals, every one of these stocks possess those characters. we really like where we're positioned going forward. liz: 3.8 dividend. tyco 1.7 percent. what does cigna have? >> cigna is lower than that? that's one of the catalysts we see. the capital return story
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going forward, they'll generate huge amounts of excess capital they'll short out their balance sheet. condense their business model. hopefully raise their dividend. worth three and a half per se yield pretty exciting. i look at the next 12 months a company that will definitely grow their earnings base from here. hopefully over the next 18 months. >> as we quickly finish up, any black swans on the horizon here? >> we actually remarkably worried about a plunge in energy prices for 2014. liz: got it. >> when you have a 40 percent move in such a major component of the economy in six months, that tends to create some kind of disruption in both the financial markets and geopolitical
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rainy. >> happy holidays. good to see you both. jack, bmo chief investment worth. don, ridge worth portfolio manager. we'll put your picks up our page. closing bell, five minutes away. could web in for a last minute rally? we found out how black friday sales really performed and how cyber monday is shaping up? howl we do that? we're bringing in two guys all online. patrick byrne overstock ceo and blue nile, diamonds online joining us live to give us a realtime update to see how their sales are. don't touch your remote or smart device unless it's to crank up the volume i've been called a control freak...
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>> our volume today is pretty heavy actually, david. up about 24% on the-month higher. david: it is. as we look at the dow, it is important, percentagewise s&p is
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down twice as much as the dow. liz: indeed. nicole petallides at new york stock exchange. we have to look at the best trade of the day. that is commodities which have been such laggards lately. oil and gold making major comebacks today. >> absolutely right. we've seen oil sitting around five-year lows. we saw them $63 range early overnight. yet we've seen a bounce-back in some of these names. many of these names have been beaten down this year. david: talk about beaten down, apple was getting hammered. they are still down significantly but down much more earlier in the day. what's happening? >> we saw some program trading. there was some speculation who was selling. that intraday chart shows you what happened at 9:51 a.m. dramatic moves to the downside. made somewhat of a comeback but certainly not where it was at the opening bell. liz: as we look at the transports which have made record after record, they're taking a hit today but not fedex and ups. they're barely flat here. really the railroad and airlines not looking good.
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[closing bell ringing] >> iting interesting. oil gained a little bit. liz: here come the bells on this cyber monday, day after the holiday weekend. let's look to see how stocks finish up. making a valiant effort but not getting back to the flat line. the at one point the dow was down 1020 points. to see a loss of 49 points, it is a lot better than it could have been. s&p at worst point down 18. down 14. nasdaq struggled all day, settling near session lows. two major names watching sales tick higher and higher. we have that and more. "after the bell" starting right now. david: breaking down cyber monday trading day, we have david richmond from richmond brothers. he will tell us why he sees investment opportunities in small caps though they got hammered today. did you see what happened to


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