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tv   FOX Business After the Bell  FOX Business  July 1, 2013 4:00pm-5:01pm EDT

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[closing bell rings] liz: perhaps on news of a management change at the top. here come the bells ringing on wall street and 7th avenue at the nasdaq. see how stocks are finishing up. dow jones industrials slipped 100 points off the gains. our high was 173. here we are. make that 110 points clipped off the gain. still a 63-point gain. david: 50% would be nice. liz: not bad at all, right? david: we see all the indexes in the green. by the way the russell 2000 we'll be talking about small cap stocks. look at this, 1 and a quarter percent gain. it is not 63%. not bad compared to other indexes. we'll figure out why that is happening. here is a look at front page headlines. -@the manufacturing activity picking up. ism improved to 50.9 following three months of declines. any number by the way above 50 signals that business is expanding so that is a good number. liz: according to
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"wall street journal" microsoft interactive entertainment chief, here is the zynga story is leaving the company and close, close to taking a top job at zynga potentially as ceo. both companies are declining comment. david: as liz was saying millions of egyptians taking to the streets yesterday and today demanding that president morsi quit while the headquarters of the muslim brotherhood was ransacked. egypt's military issuing an ultimatum to have the feuding government 48 hours to compromise or it will announce its own solution. despite the protest, egypt's benchmark index rose 4.3% on sunday. liz: steinway, 160-year-old make irof pianos and trumpets agreed to go private by private equity firm kohlberg kravis. a deal is valued at 438 million. i will miss the ticker symbol,
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ldv, ludwig von beethoven. a walkout derailed 400,000 riders on the nation's fifth largest rail system. it affected every mode of transportation. it's a busy day. hang in there. "after the bell" starts right now. david: let's get right to today's action. a lot of ups and downs. chris relzler, the comanager of the needham growth fund. since his last appearance his stock pick is up a whopping 31%. so he knows what he is picking. what is he buying now? we'll tell you in a minute. lincoln ellis in the pits of the cme. lincoln, i want to start with you. let's start with europe. we got some very depressing figures out of europe. there was a time not long ago before the market rally in january concerns in europe really hit the market. not so today. it was down off its highs but clearly unaffected by what is happening in europe.
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why? >> i think there is two things here, dave. one is the pmi numbers that came out really signaled that europe is bottoming or at least there is perception that europe could be bottoming. secondly, obviously much more aggressive posture and stance from the ecb over the course of the last three months really putting europe on much sounder footing or much better trajectory in terms of the euro versus dollar and other export related factors that would produce better profits for companies in that region. but, you know, europe continues to lag the u.s. as does emerging markets continue to lag the u.s. and equity markets. it is all u.s. all the time. liz: hold on lincoln. breaking news. it has now been confirmed that matrix, the man who left xbox is indeed will be ceo of zynga. we started to see zynga's stock popping hour 1/2 ago, all things digital the website related to "the wall street journal," reported he would leave microsoft the real genius of
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microsoft interactive and behind the xbox going to singh g the hire is important because of course the company is a 3-dollar stock had been struggling under founder mark pincus. it appears mark pincus cooperated with the hiring. he would have to, because he has 61% of voting control in zynga. the stock is jumping exponentially as a percentage in last couple minutes. it has confirmed it hired don mattrick, dave. david: a stock linked close to facebook. facebook fortunes have not been doing too well. let's see if this helps out. let's go to chris. we were talking a little bit about europe. let's talk about china. china's slowdown continues but still growing but growing at a slower clip. when do you think, if at all, that 56 affects our markets? >> i think you have to pay
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attention to the credit markets over there and whether the government's going to step in and provide some support and liquidity. david: by the way, we should mention so far they haven't. actually that, that really hit the asian markets hard but didn't hit us hard. why not? >> i think you're having a shift out of emerging markets. you're seeing money flow back into the u.s. domestic equities and that's providing some support. it's a safe place. we know our accounting here is probably a lot bert than other places in the world and that's what we can count on. liz: all right. what else do you count on? we know that we can count on a lot of talking fed heads in the next several months. when do you think we can count on tapering of the bond buying program as the economy stablizes, chris? >> i think we're seeing that as the economy gets better. so it's more of an option that the fed has to taper. and i believe that it is going to remain accommodative. tapering only reduces some of
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the fiscal stimulus or the stimulus they're putting in. they're continuing to be accommodative. we think equities are a great place to be in particular small caps going forward. david: oil is shooting up another 1%, 1 1/2% today close to that 100-dollar mark. you have a couple of oil plays. one is halliburton and superior energy. both are into the infrastructure of the oil business. why do you like them? >> with oil at these price levels the cap-ex budgets will continue to be very buoyant. it was a slow start to the beginning of the year. we think those budgets get spent in the second half. these are two well-run companies. superior is more of a play-doh domestically. halliburton allows to us play globally. this is a way with a global company we can get exposure. liz: lincoln, this is on a day where nicole mentioned to us tesla jumping 9% and oil is higher on what is a very disconcerting situation in egypt
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somewhat of a standoff between morsi and the military and a million plus protesters. we have live pictures watching throughout the day. now with darkness descending you still have those crowds refusing to leave. by the way they go as far as the eye can see, we should mention that. was that fireworks i saw? it is festive now. you know how quickly these what happens to oil if anything happens in this crowd? >> well, think you've seen a lot of spread between brent and wti come in because of that and that is the pressure really on the oil complex more broadly that there continues to be this large headline risk, not only with what is going on in egypt but what continues to be a deteriorating situation in libya and syria and really no negotiated or negotiatable end in sight. clearly the g7 produced no warm and fuzzy feelings between our friend and russia and our president obama and so really the ability to act proactively
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and collectively to help let some of the air out of these very tense situations, it just doesn't seem to be a possibility. and therefore highly sensitive commodity prices like that of oil, are going to react accordingly. david: liz, you know the interesting thing is when you and i were covering what happened in greece, the situation there, remember about two years ago when they had riots in greece, it affected the markets tremendously but now, chris, again we seem to be beyond that. let me ask specifically about size of companies because there has been, today, we saw the russell 2000 do very well. much better than regular markets, that being small and mid-size caps. do you choose any size company particularly in this environment? >> we like small caps now. we think they're less exposed internationally to emerging market companies. their balance sheets are incredibly bert than they were four or five years ago. with a rising rate environment which is what we've been seeing, if they do continue, we think
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the small cap companies will be benefiting. liz: what is your side window trade, chris? i like to use that term sometimes because i think, if l, money you could afford to lose where would you put it? is there a cookie sector where you think it may not do well but i'm willing to take a shot at it? >> ahead of semiconn west next week, semicap equipment back end of this year. liz: semiconductor capital equipment. >> right. this is the quiet time, the summer. i think there will be a some surprises. >> applied materials? other names. there is a lot of movement in the region. >> one small name we like is form factor. it is going through a turn around t made an acquisition about a year ago. it integrated great. it is about to you are return to profitability. we think there are really great potential over the next six to 12 months,. david: i like that. mad money. take some of the profits off the
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table. commit it to some of the outlyer stocks. i like that idea. liz: thanks everybody. chris, and lincoln. lincoln we'll check back in with you in a few minutes when the s&p futures close. david: pathetic and embarrassing, that is what one former strategist calls the if he fed's reaction to the markets. when all the fed officials came out. was this the fed trying to coddle wall street? is that a good idea? stephen roache, senior fellow at yale university, former morgan stanley asian chairman joins us with his very strong opinions next. liz: big interview. all week we bring you top strategists in different sectors. look at their second half setup. what to buy in the second half. what to avoided in their sectors and what trend will emerge. up next we are focusing on pharma. and we would love to hear from you. what are we more likely to see in the second half? new highs, a crash, aful back, 10% correction? log on to
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we will read your answers later this hour. ♪ [ indistinct shoing ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ]'ll bust your brain box. ♪ all onhinkorswim from td ameritrade.
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he issued a blog post, if i could find a better person to run this company, it would be don mattrick. this is the guy who came from, as we said, from microsoft. don mattrick will be the new ceo of zynga. the stock is responding extraordinarily positive to it. up 10%, continuing most of the gains in the after-market session. got as high as $3.17. mark pincus was having some troubles. founder and real gene just hyped singh g you can not be one company for one other company,3 depending on say for example, facebook. that is what started to happen. it has been a struggle since the ipo. pincus realized if we want to see it all the way through we need to bring in a grown up. mattrick is. he has been for several years at microsoft running entertainment business and spent several years at electronic arts. nicole petallides looking at this move. this is exciting one. david: she is also looking at
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netflix which is rising after they announced another content deal. question how many can they actually afford. with all the stock values increase so much they can probably afford quite a bit, right, nicole? >> unbelievable, netflix, beefs it up and beefs it up some more. now another addition for these subscribers of new girl, very popular from 20th century fox television under the umbrella of 21st century fox. this is a new multiyear exclusive deal of this series, "new girl quote, which is incredibly popular. with the recent disney deal they did not long ago. there is lot going on the up 6.25%. >> good stuff, nicole. thanks. liz: s&p futures closing right now. let's head down to lincoln ellis. >> we have a closed up 6.5, that is huge petering out.
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david pointed out we're very light volume coming into this week. very light volume on the roads to volatile trade. eyes focused on wednesday, the beginning of the jobs extravaganza. we take a break on thursday for the holiday. we'll get back into it. scrutiny, scrutiny, scrutiny all the way across the board in the ism numbers and gdp numbers and now into the actual employment component because that is the piece which this economy rests. any further upside in the equity markets. david: all right. we have some more breaking news on a very busy stock one that is really hitting highs, it has been hitting highs for a while now, mostly because of the work of robert iger, who the board just loves over at disney. they love him so much they have extended his tenure as ceo and chairman through the expiration of his contract on june 30, 2016. that is a 15-month extension. who knows where it can go from
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there. we see the stock not really reacting after-hours. at lot of people were expecting this would be done. the board at disney loves bob iger and they're proving it with his contract extension, liz. liz: the stock is $3 below its 52 week high. it has done very nicely. the second half of 2013 officially started, 2-h. good start to july. what are we likely to see in the second half of the year? that is a very broad statement but we decided to break it down. all this week we'll talk to industry experts about what to expect in each market sector during our second half setup series. today we're joined by jeff jonas, gabelli fund portfolio manager and what he is predicting, today we pick the pharma sector. >> uh-huh. liz: first of all, rear view mirror, how was the first half? >> it was a great year to be a health care investor. s&p health care sector sup 19% year-to-date. it is one of the strongest performing indexes for the
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market t has been two things. continued preference for dividend-paying stocks and certainly big pharma pays that bill and growing comfort with health care reform. this whole sector got crushed four years ago when we went through the debate and passed the bell. we adapted with taxes, regulation and continued to raise price and pass it through the consumer. liz: we know it will kick in, obamacare will kick in in 2014 but it has not as you mentioned seemed to hurt pharma in general. if you break it apart, pharma goes into many different areas. there are biosciences, biopharma, regular pharma. the little guys, big guys and what do you like to focus on particularly when it comes to trends in the second half? >> certainly one of the hot areas right now is cancer. we saw that with amgen's bid for onyx pharmaceuticals and i think two of the stocks can really look for there are merck and bristol-myers. they will be leaders. they have a new drug caught a
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pd-1 inanybody tore. it uses body's immune system to fight off skin cancer and lung cancer. wide range of uses. very few side-effects you expect. liz: different drug that can tackle different cancers? >> going through third phase of clinical trials. three years away from the market this is five or 10 billion-dollar drug when it comes to market. liz: that is huge when they consider a $1 billion drug a blockbuster. >> given range of uses it will have, and price it will command which is ternly tens of thousands of dollars it will be a big market. liz: merck, bristol-myers. one of your picks interestingly enough is hospital company and not pharma company. tenet health care you're looking at? >> that is one of the winners in health care reform. hospitals lose 15 to 20% of revenue to bad debt and charity care. anything that cuts down like the uninsured will be a real big benefit for them. they should see some extra
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procedure volume covering uninsured but mostly reducing the bad debt. they announce ad great acquisition of vanguard health. looks like that could add a dollar a share to earnings when fully integrated. >> you have another pick with a pharmaceutical with a new diabetes drug. diabetes is one of the top five or top three problems that vexes many mention and this is lexicon. why do you believe this will be a winner in the second half? >> this is a small cap name. it gets the kid anies to help treat the diabetes. they don't have a partner yet for the drug but they're shopping it around. they are talking to all the big pharmaceutical companies and could have something signed bit ind. year with a big up front payment. and up-front cost of the phase three clinical trial and get royalties and marketing when finally approved. there is a catalyst that could come by the end of the year. liz: we have those names. you see on his list, baxter international. where is the opportunity there? blood plasma?
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>> half the business is blood plasma i which steady growing mid single-digit type of business. they're getting big into brazil and some of the other emerging markets. the other half is medical devices. they're getting bigger in kid any dialysis and another type of diabetes play through the acquisition of gambro that should be an accretive deal. what i really like, kind of a hidden call option they're testing their gamma blood plasma forrals himmers disease. if they find a few patients respond well they will go forward with clinical trial for it but that is multibillion dollar market. liz: your parents say, why didn't you become a doctor, jeff? >> no. liz: we'll put all of jeff's picks up after the bell. jeff, great to hear enthusiasm for the second half about pharma. thanks so much. david? david: ben bernanke's colleagues were out in droves last week trying to calm the markets. all because of fears about tte possibility beginning of the end of the fed's bond buying
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program. we have someone who says their reaction was actually embarrassing and the sooner the bond buying ends the better. stephen roache, former chief economist at morgan stanley joins us next. liz: plus in case coffee didn't give you negative of a jolt, starbuck looking to go into the soda business. this is kind of something they said they wouldn't go into. details are ahead. ♪
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david: time for a quick speed read, a look at the some of the day's other headlines, five stories, one minute. nokia looking to buy out siemens's share of the nokia-siemens network for
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$2.2 billion. they hope the buyout will make it more competitive in the smartphone business. groupon announcing a new business, a pretty cool service. it will allow customers to book tables at restaurants with a discount up to 40%. the new service takes direct aim at online reservation service, open table. starbucks experimenting with handcrafted sodas in atlanta and austin. the drinks come in variety of flavors. their latest push to move beyond coffee. the european union gets a new member croatia after working more than a decade to meet @embership requirements. finally random house and penguin complete the planned merger creating the largest consumer books publisher. they will control 25% of the entire book market in the united states and that is today's "speed read." cable stocks are popping today, sparked by speculation about the next big move that may be coming from a true industry legend. liz: they never give up, do they, dennis kneale? the ones who are in charge from the beginning.
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here we go, john malone at it again. >> there you go. you stole my thunder, liz cable cowboy, john, custer, malone at it again, shaking up the cable business. time warner stock popping on reports malone is interested in buying it. up 10% and down a bit today. don't worry about that. that reportedly has time warnery else rather than get gobbled up by john malone liberty media. cablevision systems of long island that would be the ideal target, next door neighbor to new york-based time warner. that stock, cablevision sup 10% today and another option is privately held cox communication. yet john malone's liberty media might be interested in cablevision or cox if he can't get it. wc reports are. liberty, that is john malone's company, owns 2 #% of a smaller cable operator, charter t would likely merge that with a new property. but time warner cable is the one to watch. it is the nation's second largest operator of local cable
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systems. it reaches 12 million homes. it has done extraordinarily well since spun off from time warner in early 09. in the last two years the stock is up 40%. now but it may be that in transition for that company because the ceo, glenn britt at time warner cable getting ready to move on, to retire. lately that company has been looking at investing in cable channel content instead of just owning the cable systems that deliver all those shows. for john malone though, a time warner deal would mike a triumphant return to u.s. cable systems. an industry he pioneered. he once reined over that business so mightily, al gore called him the darth vader of the cable industry. he built the nation's largest cable system owner but sold it to the old at&t in the 9 o's. that deal proved to be disasterous for, for john malone, this really could be a shot at vindication. david: john malone, my old boss. first guy who got me into
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television. liz: wow. david: yeah. at tci. he was right on the money. he ended that particular show because he saw that rupert murdoch and roger ailes were getting together for fox news. he said nobody can beat that combinationn his words to me many years ago. thank you very much. >> really? liz: dennis, thank you so much. dennis kneale. david: what do you think of the fed's response to the market selloff last week? our next guest think it is was pathetic and embarrassing. he is here to tell us why and what the fed is doing wrong. his name is stephen roache. jail university's jackson institute of global affairs senior fellow. he was stanley's chief economist. you don't want to miss what he has to say about the fed. it's a fox business exclusive. it is coming next. liz: we already took a look what to expect from the pharma sector for the second half of the year. what about upcoming ipos? david menlow of ipo financial dot-com will join us. today marks the 150th anniversary of the start of the
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battle of gettysburg in pennsylvania, one. most epic military confrontations in u.s. history. although the civil war would rage on for nearly two more years after this battle, it was very much considered a turning point in the war. battle reenactments took place in gettysburg all day long. more than 200,000 people will visit the area through the 4th of july weekend to mark the milestone. more than five years surrounding the local anniversary, the local economy in adams county is expected to get a 2 billion-dollar boost from all those visitors. ♪
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david: fed members came out in droves last week in effort to quell market fears about the tapering of on buying an excessive money printing but is this a job of a central banker? our next guest has quite a bit to say about this. we welcome senior fellow, for many years the firms chief economist. i have never seen a pr campaign like this by presidents of the fed, have you? >> it is pretty embarrassing on june 19 ben bernanke made for
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him a clear statement that under certain conditions it is time to bring qe to an end. the manipulation was going to end. it is hardly a shock. the fed panicked. we don't want rates to go up, he said. he dispatched his board members to plead with the marketá,&ñ toy please don't raise interest rates, we didn't mean it. well what did they mean? the world's most powerful economy. david: the fact is there has been a number of fed, these were strong guys who stood up to market when the market did not like what they were doing. let's take a look at paul volcker for a second, when he had to squeeze inflation out of the economy, he did it and he didn't let the market interfere with him.
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>> he knew to be a price to pay to squeeze double-digit inflation out and he was prepared to pay the price. david: does this mean any time market makes moves toward getting back to a non-panicked kind of monetary policy and the market reacts that the fed is going to react to the market? >> i hope not. if that is in fact, a federal reserve, deliberately manipulating interest rates down with untested quantitative easing for over four years. they want to take away the drug and the don't want to market to respond? give me a break. david: that were not for this policy to begin with the entire economy would have gone to hell. we need the bond buying, unprecedented bond buying, money printing.
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>> we needed the first round of quantitative easing in the depth of a crisis to stop the bleeding. and it worked. but qe2, qe3, operation twist has done nothing to jumpstart what is still an anemic counter. david: so how do we get out of this cycle, they panic nd pull back? >> when your eye doctor and want to operate on a patient, he has to know what the problem is. the fed has misdiagnosed the patient. 71% are still suffering from a horrific balance sheet. need savings incentives to give a sense of security about the what does it do to address any of those concerns? david: keep unemployment down, they don't have a mandate to keep the stock market up, and
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sometimes a stock will increase in value as a result of firing people, so sometimes it directly conflicts with employment mandate. >> the fed is operating under this belief if they create enough wealth in stock market and property market and other markets, miraculously consumers will spend the wealth and consumption will come back. this is the same tired and broken recipe that got us into this mess in the 2004 to 2007. financial engineering is not the answer to get the u.s. economy on a sustainable stable economic recovery. david: greenspan had a similar policy trying to boost the housing market, what will this lead to?
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>> the fed is once again staying easy for too long. they did this in the late 90s when we had the dotcom bubble. and they're doing it again now. there will be another problem not to tell you when, where and how, i can assure you getting into distortion in the market exactly a toll on the u.s. economy. david: not only is he at yale, not only former morgan stanley chairman, but also classmate of liz claman in high school. >> to say we were classmates is a bit of a stretch. liz is a hall of famer. david: liz will be in the hall of fame.
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>> i was class of '6063. liz: and i was '81. david: thank you very much. despite the wild ride in the market, companies are not shying away from going public with the second quarter the most ipos into an half years. will the trend continu continueh the year? the second have set up for ipos next.
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>> it was a sea of green at the closing bell today. the nasdaq higher for a fifth straight day. the longest winning streak in seven weeks. southwest is teaming up with
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dish networkkto offer free television using the smart smars and tablets and laptops. dish will sponsor services with up to 75 on-demand shows for passengers. southwest will waive the $5 fee for the video service and wi-fi as part of the partnership. how much would you spend to avoid bumper-to-bumper traffic this holiday weekend? if you're going to the hamptons, a mere $3000 for helicopter ride will help you do just that to silbert expansionary summer suv service, they are offering helicopter shuttle services wednesday from manhattan to the hamptons. (announcer) at scottrade, our clients trade d invest exactly how they want. with scottrade's online baing, i get one view of my bank and brokerage accounts with one login... to easily move my money when i need to. plus, when i call my local scottrade office, i can talk to someone who knows how i trade.
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because i don't trade like everi'm with scottrade. me. (announcer) scottrade. awarded five-stars from smartmoney magazine. liz: we need to get back to our breaking news story on zynga because this is sure to be a stock that an a change at the t. edwards, right off the bat is a company went public a year ago
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december, $11.93 stock, what do you think of this move? >> i think the world of games, on the startup to running the xbox division within microsoft. i think you'll bring a level of expertise that is helpful and acknowledging that there are shortfalls witt the struggles he has had over the last year and half. david: will zynga ever get rid of the facebook training wheels it has? >> to achieve that with you have to do is build up the global business. that is one of their key focuses right now to kind of derive more of the revenue on those platforms. the other key to that is building up the network. the network is probably the most
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recent expertise is more relevant. liz: of course he has done wonders over at xbox, he came from electronic arts, founded his own startup software company when he was 17 so he is a grown up at age 49 sort of like when eric schmidt was brought in to take over from the google founders who were very young trying to find their way. let's talk about the founder, the chief product officer still a huge shareholder, 60% this has to come with his blessings. what role will he play and do you believe he'll be smart enough to back away just a little bit? >> i am not entirely certain what his role will be. very involved with the company and certainly as he is still determined. liz: getting away from being attached at the hip to facebook what would throw you to see zynga do next?
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>> the key thing is to see them execute well on the mobile platform. with a couple of other companies really light up the charts on mobile games and zynga has come up with high-quality product people can engage in to monetize daily on mobile. for me that is really the key, creating a hit and that hit the available on ios or android. that is the goal. that is what zynga is trying to do right now. hopefully that can lead them going forward. david: it has a long ways to go. up after the ipo and has come down between $3-$5 range. where it has been stuck for about a year now. we will see of this works. edward williams, thank you very much, good to see you. coming up it is the second half, we want to know whether there will be a big surge in ipo
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activity in the second half of this year. talking to a man who knows a thing or two about ipo, next.
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david: ipo activity searching the second quarter with 61 companies going public compared to 33 last year so will the trend continues throughout the year and which companies you have to be watching. liz: president of ipo setting us up with the second half. looking backwards just a bit, what a great second quarter, now going into the third quarter, will it be as exciting? >> i think it will be very exciting, but not in the traditional sense people say we will have another noodles and company that went up 100% on the first day. it will not be like that. visually exciting in the opening three weeks is what has happened with a half or three quarters of a point higher. in short order the stocks are up huge. assets are cheap, people are going in and the money is just
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about being ready to be let loose across-the-board and everybody loves it. david: facebook is the most exciting. we talked about the zynga. went down $3 where it has been stuck for the past year and a half, what have we learned from facebook and zynga about -@pricing? >> more interested in satisfying the issuers, come in public. and the stockholders. obviously a company that will come public, they are done a while until it a secondary offering, investors are watching and waiting and ready to play the games and so many severity to stop taking his painful deals that don't work out, let's do the ones that are working. we are ready.
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liz: the best performer up 200 plus percent. while it wasn't great, it wasn't a total flutter. all of these names, let's spin it forward, what excites you that might be coming out? aryou're watching some deals closely. >> there are some deals that shouldn't get attention. we really want to see what is happening with the private equity sponsor's offerings. this is a key indicator for the market. we had hd supply, see dw. abject failures at the trading because of private equities, how is a market receiving that because there is huge money tied up in that and smaller names to come out doing extraordinarily well. david: interest rates are going up, they have not been that worried about debt but are more
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worried about the cost of debt and how much it cost to borrow money. the markets acquired a lot of debt. is that the kind of ipo people will be more wary of? >> they will definitely be worried over deals of that nature, but it is not just the question of the debt, it is the name that will probably smooth things over and say they will work it out because the consumers are back for a situation like that. liz: everybody watch out for legalzoom. david: did you ever want to visit the moon? now you may be able to send their own personalized spacecraft to the moon for $150? an amazing story you don't want to miss coming next. liz: and what you think we are most likely to see in the second
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half. new highs, a major correction, a crash, dare we say? ahead.
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david: time to go off the desk. you want to go to the moon? now you can with your own personal mini spacecraft with project pocket spacecraft for
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$150 you can design, told and launch a cd size paperthin, they call it a spacecraft, but it goes with a bigger thing, tracking it with an app on your phone. if of images stored for the owner to view. he needs to beat the clock to raise funds and get about 2000 people to take part in the next 60 days in order for it to go ahead. it sounds fascinating. we asked what you think we're more likely to see in the second half of the year. jim on facebook wrote in to say looks like it will be just the same old roller coaster with highs and lows, hang on. liz: thomas told us we are likely to see both, a fall, crash, buying opportunity followed by santa claus rally, 2014 will be a real downer with obamacare taxes kicking in, but we will watch. david: tomorrow manufacturing orders become is expecting
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orders to rise. liz: thank you so much for watching us. "money" with melissa francis is next. melissa: here's what is "money" tonight. one of america's biggest cities in gridlock, union workers on strike in san francisco could spread to even more cities, plus her love may not cost a thing but will serenading a tyrant cost j.lo her rep? and who made money today. stay tuned to find out even when i say this not not, it is always about money. ♪


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