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tv   Closing Bell With Maria Bartiromo  CNBC  April 27, 2012 4:00pm-5:00pm EDT

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things come down. >> got you. thank you. that wraps up this week on wall street. maria has the next hour on the "closing bell" right now. hello, everybody. i'm maria bartiromo on the floor of the new york stock exchange. the dow and s&p extending the current win streak to a fourth straight session due in part to the consumer discretionary sector which hit an all-time high. coming up, the market has come too far, too fast, satisfy ready for a breather. the market high today despite another downgrade of spain. europe is once again an issue. the head of global asset allocation explains how you should be investing amid the
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ongoing crisis in the euro zone. taking a look at how we finished wall street, dow jones up 25 points off the best levels of the afternoon. volume anemic today at the big board. 13,229. nasdaq, 18 points higher. technology one of the winners on the street. 3,069. and s&p 500 up 3 1/2 points. and the nasdaq composite posting the best weekly gains since february 4th. better than expected news from amazon, expedia, pushing the nasdaq up today. it's extraordinary to watch the gains with amazon. where was the business ten years ago? it's clearly due to tapping into international growth. we see why the money is flowing
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into the internet and why it's so vibrant around certain parts of retail. s&p 500 finishing back up 1400, first time since end of march. technology names helping a lot for the nasdaq. telecom giving the market a leg up as well. s&p telecom index posting the biggest weekly gains since december 23rd. bob pisani is on the floor of the nyse. even though we ended off the best levels, i like the placement of money, technology, retail, giving us real specific trends of why people are going into certain sectors. >> yeah, amazon drew up the retail to new highs. we also have real estate coming back. that was the other big trend. real estate investment trusts, home building trust hit new highs. that's why the consumer discretionary group was so strong. earnings were good this week. remember, the start of the week we were probably up 4% on earnings. now we're up 6.5% for this
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quarter and a couple weeks ago everybody was complaining we're only going to be up 1%. slowly but surely it's getting better. there's the number as we saw it today and two weeks ago. the important thing is we have 60% of the season done so far. now we're going to hear in the next couple of weeks from retailers and they have an april ending quarter. >> that's a good one. >> now we're going to hear whether trends in april hold up. >> and do the moves equate to the actual fundamentals? we should point out and the market was up and other earnings reports, big energy companies, energy has been a real laggard. the laggard has been the financial stocks, which has done nothing since the earnings came out, as well as the big oil companies. i think the big problem is they are not certain whether there's a premium left in oil with
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concerns in iran coming down a little bit, i think oil prices are coming down. >> oil at 104.71 today. bob, thank you so much. >> still holding up. amazing. >> it sure is. amazing. the major averages closing out the biggest weekly move since mid-march and helping you erase most of april losses. bertha coombs with a stat check. bertha? >> you could call this week as the winners and losers, separate them by the haves and have-nots when it comes to consumers. as bob mentioned, housing is the real stand out. they have been the have-nots for so long. up nearly 7.5% at a two-year high after the case-schiller rose for the first time and the highest level since 2010 when we had the home credit buying activity that was so rampant. underscoring the pending home news reporting that its first
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quarter rather was a narrower loss. also saying that new orders were up 46% from a year ago. shares were up more than 25% on the week. that's the biggest gainer within the housing sector. pulte also reporting a positive shift. ten different home builders up double digits for the week. meantime, those housing gains were part of the reason that the s&p discretionary sector closing at an all-time high but driven by retail stocks and a number of stocks hitting historic highs. apple really helped pull that shift, coming out with that big blowout number. after that on wednesday, in just one day, amazon really bringing it home this week on the strength of the consumer.
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monster move here. any kind of disappointment sees you punished it. when it comes to consumer stock and this is a furngishing maker. and it warned that it is going to have lower sales going forward and that makes one of the double and procter & gamble and the company is lowering its outlook and saying it's going offer more coupons and boost promotions and cut time share even as the input costs are rising. what's interesting, maria, going
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into this week, we had seen this more conservative outlook towards investing, consumer staples, more conservative sector had done well. now we've reversed. >> yeah, absolutely. good stuff, as always. and some signs out there indicating the market is vulnerable from a pull back. we bring in jeff along with morgan, portfolio manager at wells far goep fund management. thank you for joining us. what worries, you jeff? >> each of the last two years, we had first quarter earnings and at the end of april, april 29th in 2011, markets fell down 16 to 19% and didn't regain those levels for six months. earnings may not be enough to sustain us over the next several weeks.
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next week, we have the ecb meeting on wednesday. attention may refocus away from domestic profits. >> morgan, do you agree with that? >> yes, i think the long-term underpinnings are great. you're seeing a weakness in the european financials we may have a correction in the spring, as usual. >> you're saying we'll have a regular correction in the spring. should we start to sell stocks here? should we be taking money off the table? >> yes, i think you've already seen mixed results of stocks that were very disappointing in some sectors and i think that's really telegraphing that as we get into sort of a growth lull, a lack of growth scare, that we may see stocks really give back a lot of the great gains we've had this year. the end of the year i think we'll be looking at a very big economy but over the short term we'll have a correction and some
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disappointments. >> i wonder if you need to be selling those gains that have gained the most. retail has well, jeff. what do you want to avoid here or sell? >> you named it. let's listen, technology has led to the upside and each of the pull backs led to the down side. it's a great place to lighten up and take profits and in the meantime it takes the profits off technology and consumer discretionary, particularly media, an attractive place to reenter this market after a modest pullback. >> thanks very much to you both for joining us. we appreciate it. another developing story that we're watching closely, the fight between yahoo! and facebook heats up. jon fortt joins me on that. over to you. >> first yahoo! sued facebook and then yahoo! sued facebook back. now they are alleging two more
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violations and arguing that the patent claims are invalid. one, facebook's ipo coming as soon as next month and, two, the proxy fight and an effort to fix a foundering business. yahoo! sued google before its ipo and yahoo! can use any extra cash it can muster. the latest two pat tents yahoo! is asserting against facebook, one on validating interactions on a network, another on a way to let advertisers manage search listings. yahoo! claims that the counter suit is flawed and making claims about yahoo! products that facebook -- that facebook couldn't understand. also, because facebook bought many of the patents just before this fight. they seem determined to fight the patent suit, at least for now. between oracle, google suing samsung, we're at full employment for patent lawyers.
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>> thanks a lot, jon. ce oechlts of the lending banks will meet with daniel next wednesday in new york. the bank is expected raise concerns about the fed's proposal to limit bank exposure to other firms and governments. top brass from bank of america, goldman sachs, morgan stanley all expected to attend. the fed may issue a final ruling this summer. corn futures surged to a two-week high. international grains council saying that china imports will raise 50% over the next year. strong domestic demand, domestic transportation expenses will make imports to the u.s. or arge jean tina cost effective. an unusual site over new york city. take a look. a piggyback on tomorrow of a jet. the shays shuttle flew to the
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intrepid sea, air, and space museum in manhattan. spain putting the debt back on the table. are there any areas in europe worth buying right now? should you be looking at bargains in europe? we'll take a look. then we'll take you from europe to asia, specifically, taiwan. shares of several chipmakers are on a roll. see how far they can run. you're watching the "closing bell," on cnbc, first in business worldwide. ldwide.
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from the nasdaq, i'm seema mody. the first weekly gain in three weeks for the nasdaq. blowout results and critical components of the nasdaq 100. weakness, though, was in the technology space and western digital beat expectations. however, the management did
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point to weaker pricing from the levels in march, which investors worry will hit. the expenses would rise sequencely. >> european concerns persisting as we take a look at gold today rising as standard & poor's downgraded the debt in spain and added pressure to the euro. what kind of factors should the european stress play on how you factor in the world? joining me is global asset allocation for jpmorgan and it is nice to have you on the program. thank you for joining us. let's talk about spain and europe, what is going on there. i want you to parse through these issues. it's brought europe back in the front burner. >> yeah. >> for their own reason. >> yes. >> how do you interpret what is going on, in particular, spain right now? >> europe overall is having a debate. if just one country has a
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problem, yes, they need to tighten their belt and pursue austerity. they all do it at the same time. you drive your economy into a recession. and europe is protesting. you see it in spain, in holland, france, and in germany, all of this going to austerity, destroying our economies. it's the wrong answer. that's a good debate to have. >> it's a good debate to have but here we are looking at elections in france. car cozy is about to lose, at least that's what the polls are showing. if the other guy wins, it's a socialist government. does that hurt the situation even further? >> the danger for the government is not the socialist. it's the left. the right is nationalist and socialists are internationalists. so if it were to be socialists that win and next year we see the same move in germany, then we have socialist parties running in europe.
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for me that's good news and what does all of this mean in terms of placing bets and allocating capital? >> europe, while having this debate, where it's going from one crash to another, is not yet the place to invest. that means you'll see more and more money being reallocated away from europe in the rest of the world. which means japan and the u.s. the u.s. is still my favorite place. >> why is it your favorite place? the market is up year to date. a lot of people are talking about whether things are getting froth three to where we are relative to economic data. what do you say about the u.s.? >> well, the economy is so-so. we're going with a 2% growth rate. the important part is that it's stable and coming with very strong earnings growth. so for the next six months, you are fine. we all know the fiscal problem at the end of the year. there won't be any information
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on this. at this point, for the next six months, this is the safest place to be. >> and because we know what to expect? >> yes. >> we're not going to see tremendous change in six months but what about after the election? let's say we have a change in power, we have an ugly election? >> at that point the market will pull back. investors want to wait and see how the debate is evolving. likely at the end of the year they will do the same thing they did last year. and have a serious debate in january and february. i think ultimately we'll get a compromise. hard taxes. hard cost cutting, expenditure cuts. one way or another we'll get a smoothing out of the fiscal heightening and we will keep the economy going 2 to 3% growth. >> do you see any catalyst in the u.s. to get the money on the sidelines? do you see any catalyst to get that money moving into stocks?
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>> aside from a big surprise on growth, the real catalyst is time. simply the longer you sit in these low return assets. >> the less, of course, the more you get board bored of it, the more you're not maintaining your capital and slowly money will move into equities. >> so europe is a one to avoid? >> yes, ma'am. >> what about asia? give me your sense of emerging markets. where are the opportunities? >> i think it will do the same as the u.s. it is slowing also. china is going through dramatic slowing at the moment which will last through the current quarter. in preparation for the leadership change, receive very significant fiscal easing, then that the economy should be accelerated. >> and you will put money together there? >> bit end of the summer, yes. >> thank you. come back soon.
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jpmorgan head of asset allocation joining us. up next, forget silicon valley. we're taking you to an area known for its hipster fashion. it's a hotbed of technology. and then financial m plications of health care reform when i speak about our money and medicine segment. how medicine is changing technology. that's ahead. everyone in the nicu, all the nurses wanted to watch him
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vivus is rising tonight as the fda approved the e.d. condition. expedia soared today to a fresh record after jpmorgan upgraded the stock. the firm still raised the price targets of $37 a share. that's up from 31 and the a analyst is setting higher bookings. a sharp rise at the hotel business. check out that start. 7.68% higher. deckers falling as the maker of
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ugg shoes and other shoemakers. deckers plummets 25% on the session. when you think of high-tech startups, you probably think of silicon valley, not brooklyn, my favorite place in the world. new york's inner circle of investing, natalie is joining me with more. brooklyn, huh? >> brooklyn, indeed. you wouldn't normally think that just across the bridge is a new $10 million seed fund. well, it sees itself as a bit hipper than the wall street counterparts. >> i mentioned a wide variety from cloud-based companies to e-commerce. >> charlie o'donnell, a venture capitalist who has invested in companies to groupme to docracy established brooklyn bridge ventures in january of this
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year. it is his attempt to foster small businesses in brooklyn, new york, where he was born and raised. >> brooklyn is known for being homes to artists and creative types which o'donnell says is a real asset to the new york start-up community. >> brooklyn is adding creativity. it's home to a lot of designers and developers and people are choosing to live here. >> some startups include etse, an online boutique site and the automobile dating site how about we. >> 50% of the people who work for venture-backed start-up companies live in brooklyn. i think that's going to happen. i think what we're seeing now is companies willing to get funded
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and and grow that big and you're seeing some companies with significant venture rounds to be able to do that. >> brooklyn bridge ventures is working to close investment rounds right now. >> well, if they are closing investment rounds, there is obviously lots of money there. what's the attraction? one of your guests said it was talent. >> uh-huh. >> but is it also cheaper in terms of living there? i think the real estate has gotten expensive, right? >> it's become expensive. it originally was a cheaper alternative to manhattan. but, yeah, he says he has access total lent there and an eclectic pool of start-ups. brooklyn bakery is leather bracelets that are apparently very popular on the internet. he says he's willing to invest in manhattan funds as well. >> go brooklyn.
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join me at 5:00 p.m. eastern for my first google plus chat. richard branson will be my guest. tune in and send me your questions. would love to hear what you want to hear from richard and myself. first chat live tonight at 5:00 p.m. eastern right here from the new york stock exchange. coming up, new york is the wired in a huge way technology and health care getting married. then we've got another jam-packed week ahead of the april jobs report. round up all of the action. we'll be back on the "closing bell." stay with us. departure. hertz gold plus rewards also offers ereturn-- our fastest way to return your car. just note your mileage and zap ! you're outta there ! we'll e-mail your receipt in a flash, too. it's just another way you'll be traveling at the speed of hertz.
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welcome back. i'm sharon epperson coming to you live from the nymex this friday afternoon. natural gas prices are near the high of the session. natural gas has had quite a run. we're in the june contract now and there's a big debate whether or not we'll continue to see
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natural gas below $2 with this new june contract. well, that didn't happen and this rally, the short covering rally continues here. we're up about 20 cents from where we were this time last friday and traders say there is more potential for more short covering. natural gas getting in the $2.30 level. back to you. >> sharon, thank you very much. the general health care field has seen an explosion in technology. our money and medicine segment. the state is about to have the largest screening center in the country opening as early as this spring. the emerging genomic business is a current driver of a global business referred to as personalized health care. executive vice chairman of the board at new york presbyterian
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hospital, it's great to see you. >> great to see you, maria. >> first, i'd like to talk to you about how technology is enabling so much. you made the comment that new york is being rewired. what does that mean? >> it means that we're going to use electronics to try to make information as easily available to people as possible. under people's control, help public health, help eliminate redundant tests, information technology which would be a movement spreading across the entire country. we will have a wired and there's a great effort being done by the commission in new york which was generated by the state agent government, gave them money, and they are working on getting the hospitals, health providers all wired up. >> now, you've got a new institution, it's going to be built on roosevelt island. >> right. >> and then you're going to have a new genomic institution. tell me about the really exciting and vibrant parts of
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technology and what it's enabling. i was astounded to learn that they are doing robotic surgeries. >> right. >> tell me about it. >> they have robots that they are using for prostate and other things. tumors of the tongue, gynecology is also using it. if you walk through the things you said, genomic screen, we're going to be able to match genetic factors to specific illnesses and when we do that, we're going to be able to give people precise medicines. they are sometimes calling it precision medicine. often many different factors will create situations which look a like. so there's not one schizophrenia or one high blood pressure or diabetes. if we can figure out what instance and what factors, we can match the drug to that. the robots i mentioned -- >> the radiology machines are unreal. >> they are great and they are getting greater. they are going to use simultaneously outside imaging
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and inside imaging so they can get a better look at your intestine and what the pathology is. >> a minute ago you mentioned some of the more invasive -- it's less invasive. tell me about some of the procedures. >> all kinds of procedures are backing less invasive. one of the most startling examples of that is a new way to do heart valve repair. older people get a heart valve problem. you used to have to open up the whole chest. we now have a way of threading through a catheter through a blood vessel, getting it up to where the old valve is, putting a new one in and fix the problem. we had a patient who had ten hospitalizations for heart failure. the next five years, no hospitalizations for heart failure and out of the hospital been three days. >> the money side of this, there is enormous amount of money moving into this. >> absolutely. >> i was talking to a big investor interested in the areas
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of neuroscience. we don't know as much about the brain as we know about diabetes and the heart. >> you're right. it's one of the most exciting areas. diseases, strokes, brain tumors, autism, these are all affecting people more and more and we have a bunch of neuroscientists working now who are really opening up our understanding of the brain. that's a big deal. when you get down to it, people are threatened by brain disease and heart disease. >> in terms of technology enabling things, for a long time we talked about the i.t. part of it, right? digitizing records, et cetera? >> right. >> are we vaned on that? >> absolutely. >> i love all of this stuff about science but where do we stand? >> we have a very far sided commissioner and dr. shaw is looking at using that to accumulate data. by getting large amounts of data all together, you can more effectively plan for the system. and then we can modify the way that we do health delivery to
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take costs down and improve quality. the more information can flow, the better off we are. >> of course, it's helping doctors. >> absolutely. >> health care reform, let me get your take. what about the financial implications. in court, how are we going to lower costs? tell me about the health care legislation. >> well, first of all, don't think anybody knows, maybe except the supreme court, what is going to happen. but that's a big deal and i think it's going to be a big focus in the election. whether they endorse the aca act, which means we will be able to cover more people, there are a number of good things, problems with that. there is a another version, premium support to people and focus more on the market. whatever they do, the major health care institutions that are working right now to cut costs, we coordinate care better. we take care of post hospitalization care. we want to make sure people get their medicines and go to the doctor after they leave the hospital so they don't come back for readmission because that's a cost. we want to take down errors,
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improve quality. u.s. presbyterian has a goal of $100 million out of the system in the next few years in our place. together they pledge a saving of $155 billion over the next ten years. >> wow, big numbers. >> the hospital industry has been strained. >> right. >> we've seen a lot of consolidation. are you expecting further collaborations, out and out mergers of the hospitals because of what we are seeing? i know that the hospital business is under presh snur. >> you're goito see mergers andg places consolidate and take on more care. new york presbyterian is very big kne overloaded. we're doing what we can to keep people out of the hospital and we're doing that. we're doing that in areas around the city, often where the poorest people are. >> and you're seeing money move. great to see you. >> great to see you. >> we so appreciate you.
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thank you so much joining us right here at the nyc. find out what is behind the strong performance for taiwan. that's when we come back on the "closing bell." stay with us. >> i'm jon fortt and this is tech check. when the solar wind moves, we on earth are treated to the most spectacular light show. nasa captured these stunning aurora borealis light show. a group went to alaska to prove they can. >> you have extreme pressure, temperature, and you need to think to last for a long time and it's got to be all solid state. >> so they picked high-def pro go cameras, set them 1,000 feet into space. >> three, two, one, liftoff.
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>> 30 balloons with sensors and off they went. some captured these snow-capped mountains and this. photographing in the darkness of space is a big challenge and requires a stable light source. so one pro go camera as seen here was used as a light meter. the other to capture images. that's your tech check. i'm jon fortt. hey, heard any updates on the game? i think it's final seconds, ohh, shoots a three, game over. so two seconds ago... hey mr. and mrs. harris, where's kevin? say hi kevin. mom, put me down. put...the phone...down. hey guys. did you hear... the choys had their baby? so 29 seconds ago. well we should get them a gift. [ choys ] thanks for the gift! [ amy and rob ] you're welcome! you're welcome! [ male announcer ] get it fast with at&t. the nation's largest 4g network. covering 2000 more 4g cities and towns than verizon. at&t. ♪ guys. come here, come here. [ telephone ringing ] i'm calling my old dealership.
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taiwan's high-tech rally. the nation's big name chipmakers are boasting big returns. right now we're searching for returns in taiwan. >> and as we do, take a look at the semiconductor. is there further opportunity for u.s. investors tapping into this wave that they are riding. joining us is senior analyst for morning star. good to have you on the program. thank you for joining us.
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>> sure, no problem. >> let's talk about what is behind this. why are taiwanese stocks doing so well? >> i think their key average is behind this. first of all, the industry was actually in a slow down in the second half of 2011 but we've seen a bit of a recovery and things are picking up. secondly, the smartphone and tablets are really driving demand for cutting-edge manufacturing services for these taiwan companies. and so when you look at a company like taiwan manufacturing, 28 nanometer manufacturing process. >> so they are trending on the mobility which is soaring. i'm tryinging to figure out why it's been the taiwanese makers outperforming others. >> well, keep in mind that these companies trade with the cycles in the semiconductor industry pretty closely. as i mentioned earlier, there
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was a slow down in the second half of the year. you've seen these stocks run up. when you look at state-side companies, some of these names have run up as well, such as intel and even a company like -- sorry. even companies like nvidia and amd. >> do you think there's further upside to these stocks? should we be wary of the move so far? a lot of them had great run-up already. >> we think a lot of the taiwan semiconductor companies are actually fairly valued. >> we could see them come down in value? >> yeah. these tend to trade like cyclical patterns of the industry. the time to buy is not necessarily when things are going well. >> right. >> buying opportunities tend to arise during downturns because that's when the stocks are typically cheap and, you know, when you buy them then, typically you can ride the upturn when the industry
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conditions recover. >> when would that be? as a seasonality trade, when is the best time to buy this group? ? summer. >> things are going gang busters. with the tablet proliferation, things are going to be going good for the foreseeable future. >> all right. >> my crystal ball is kind of hazy but definitely 2012 will be a pretty good year for these companies. >> let me ask you this. given that we're looking at supply components that are sort of strained in some areas, and these companies supply the components to comes like intel, arm, amd, is it better to actually buy an intel over the actual company that's supplying the components? >> yeah. we think -- yeah, we think that there are some of these companies that they supply to have better secular trends than
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the outsourced manufacturers. keep many mind they manufacture trips for the bulk of the chip industry. you can pick and choose those that have secular trends, like qualcomm or intel. we think that intel, you know, they don't directly benefit from the smartphone or tablet but benefit from the server processor sales. sales in the server processor business have been going pretty healthy and we think that because the proliferation of smartphones and tablets requires the buildout of the cloud infrastructure, we think that they will see healthy servers for these cloud build outs and we think that this business can grow in the mid-teen range for intel. >> all right. good to have you on the program. thank you so much. >> thank you. next week, another jam-packed earnings calendar. the most important event, however, could happen overseas.
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>> next week is looking pretty busy for investors and aside from earnings, there is a key euro zone event. will this event impact investors or will wall street shake it off and investors ignore like they did today with the negative headlines out of spain. we bring in our guest, president with at that time row tap cal
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and with us, ron insana. >> thanks. >> you say the market has been saved by earnings. do you think that goes into next week or does the french election start impacting things here? >> it's going to be interesting because the fresh election is not until next weekend. it's going to impact the following week there after. i tend to still view this european issue as a major event that could be a significant head wind on the market. we had exceptional earnings. this amazon number today and the stock reaction was just phenomenal. the apple earnings outstanding. these earnings have been surprised. i have been shocked at the earnings and it's given a lift to the market, but i think if we see a turn of events with this french election, all of a sudden the european issue will be back right on the forefront of everybody's mind and with the spain data that was out today
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that was not good at all, that's going to be some challenge ahead for the market. >> by the way, i think that's happening already. people have figured out that the ecb did a great thing with the lending, but for the long-term, it hasn't really created solution to the problems. ron, you point out that the u.s. was leading the way and that's what has been driving things. this week and the last couple of weeks. >> the commentary from the companies are saying strength in the united states is offsetting weakness abroad. i am less inclined to believe the overseas events will cause a replay of 2011 and 2010. this is not a sell in may and go away year. even with weaker than expected gdp looks better than the rest of the world and the fed still supporting the environment. the qe 3 becomes a possibility again. i don't think we are in the same situation and fortress america may be too strong of a way to describe this country, but we
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are more immune than in a while. >> fortress america is a great term. it certainly does hit right on what we are talking about. that is the fortress balance sheets. they are not spending their money in the u.s. >> they may not spend their money in the u.s., but consumers are. manufacturing is indeed coming home to meet the demand we have here for whether it's automobiles and ipads and iphone or sales of goods from the u.s. is outperforming in market terms and in a lot of ways in economic terms. people might be overestimating the influence of what it is happening. the french elections that are discounted in the market. it's a socialist win. >> do you agree and what does it mean for the economy of frons? >> the greatest point is that we are no longer in this normal cyclical environment. we are in a quantitative easing cycle where the market all of a sudden realizes my goodness,
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things are bad and we start to retrace. they said oh, no, we will come forward with capital. i like sectors of the market and like buying things that are boring. i'm not getting caught up in the growth despite the earnings. when the stocks come as we saw a week ago, these are the stocks that get crushed. basic utility stocks and dividend name, they are holing in there and paying you while you wait. i like when we have shocks to the market when which i think we will get again, i don't believe it's discounted in and when you have stocks going into the dividend is the best strategy. >> we're will be watching. appreciate that. have a fantastic week. rounding up what has been a nice week for the bulls. you may scream when you hear what this iconic painting could fetch at an auction next week. detail when is we come back. stay with us.
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standard keyless access, and standard leather-trimmed seats, then your choice is obvious. the lexus es. it's complete luxury in a class full of compromises. see your lexus dealer. welcome back. it is one of the best known and iconic taintings in the history of art and could be yours in you have $100 million. the scream is set to go on the
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auction block next week and "power lunch" got a behind the scenes preview for potential bidders had a chance to see it. this painting which is the only one of the four versions produced to come up for auction could sell for more than $80 million. it could shatter the record for the most expensive piece of art ever sold at sother bee's. it's the most colorful of the four produce and the only with the frame inscribed with a poem said to have inspired the work of edward monk. beautiful. before we go, let's recap the day on wall street. the check ahead of the weekend and the nasdaq locked in the best weekly move in nearly three months. racking up nearly 69 points, 3.3% thanks to strong earnings for the like of amazon and apple. s&p gains ground for the second week in a row. the dow j


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