Skip to main content

tv   Countdown to the Closing Bell  FOX Business  September 20, 2013 3:00pm-4:01pm EDT

3:00 pm
♪ >> i'm adam shapiro and for liz claman. it is the last hour of trading, and we are looking at red arrows across the board. investors are paying a lot of attention to what the feds are saying about the taper or lack thereof. four of them, including james ballard speaking analyst data the u.s. economy and the future of the fed on a buying program.
3:01 pm
it is worrying investors. peter barnes will have more of that in just a moment. concern over gridlock in washington and a potential failure to pass a new budget has raised the debt ceiling and starts to grow. the house just passing a bill that would keep the government open until mid december, but it would eliminate the president's health care law. some health care stocks popping as a result. names like at unanimous religion, halogen, and cigna are up on an otherwise mostly down day. in just a moment we are going to be joined by a top health care executive, the chairman and ceo of universal health services, alan miller. shares of tesla are zooming to the record highs for the second day in a row. we want to go to nicole petallides at the new york stock exchange. my brother just got one and he loves it, but the design of the stock. someone else says. >> reporter: he got a great car. it certainly has gotten rave reviews from consumer reports.
3:02 pm
in near perfect store. 18583. the year-to-date charge, year today of 439%. when you talk about tesla, obviously talking about the electric cars. general motors to of for example, nothing that they too are working on an electric car and it will be a lot cheaper than that. hitting those numbers next. in fact, we don't see it in the size of again.
3:03 pm
we can expect a surge in trading volume, but what is dragging down the markets? we want to bring in our traders from the new york stock exchange, cme group, and the nymex. i want to start with you. i thought everyone was relieved. >> i think they were. and a heck of global. short term. a lot of stuff going on today. three big stocks into them. today's underlying problem is the fact that we are in the middle of dysfunctional politics in washington of the debt ceiling. we have been here before. we all know what the eventual outcome will be. the process is unnerving, creates a huge unknown command a market was right to take money
3:04 pm
off the table. adam: the me ask you this question, we see oil prices go up. what are you falling down at the cme in regards to this case we get in washington. >> it is the ten year. we have to watch that. i can't believe i'm going to say it on tv, but we have a better chance of going to have that we give back to 3%. the fed with a they have said on wednesday is borrow biggest deal growth from the future -- the next five years and tried to bring it forward. if it does not happen we risk going into a deflationary environment. peter barnes in just a second. the let me ask you that question. are we seeing an impact of fed
3:05 pm
policy, fiscal policy. >> we are seeing impaction but the those areas. the fed came out with the tapering not being cut down. the bond buying program, we rally end up quite hard. a lot of laws that should not be there. no media we may have a government shut down not give the economy. bechtel we go. also some very important technical levels. we are still going to see more downside. we are not done yet. adam: when you see the lower levels than concerned about the global economy. let me ask you about this. we keep getting indicators. but then we get the sense that perhaps in the united states it is not as good as we would like to be. target not hiring as many part-time holiday workers is the ready for the all-important
3:06 pm
holiday shopping season. people who are putting their money in equities be concerned about that issue? adam: we have breaking news. have to stop the. breaking news. they stopped trading. announced earlier this week that they are going to be laying off 40% of their workforce, we will check this out as soon as we have more we will get back to you. >> we would have the company pretty much saying they are on the block. perhaps there is a deal. adam: you could never resist buyout. >> well, i think they are going to go lower. ultimately deflationary.
3:07 pm
what nafta 2 percent growth. adam: let me ask you this. when you talk about deflation, i mean, you seem very concerned about this. how should that be protecting myself? bonds are not the place to go. where do i go? >> a lot of people and talking about golden have great it will beat with the weaker dollar after the fed said what they did because the last two meetings, they highlighted the fact that there were about lower rates to law which means deflationary, but they cannot use that word. stay out of gold. a lot of people think that will be a place to go. i think slowly but surely this bond market rallies in d.c. rates around 2 percent, but i'm afraid to say it. at think that is it. adam: if deflation is going to be the word of the day commode is that going to do for oil? >> as a matter of fact, that is going to be a big level, and if we break it will be lower. deflationary could easily take us down.
3:08 pm
economies don't get better, we have a slowdown in the economy. we could see $60 of crude oil per barrel. adam: we have deadlock in washington. we don't know if the government will be funded after september. we will give you the last word. is that the kind of thing that puts us over the edge or would it be the end of october? >> i don't think it will put us over the age. it will be another tactic or we will come to some sort of agreement. it was fallout. some sort of negotiation happen. and then over time we will come up with an agreement similar to what happened earlier this year. a deadline, it did not really have the impact on the market that we were concerned it would. seeing the same situation. adam: i will call you an optimist. thank you for joining us. the federal reserve presidents are speaking out today after the fed no taper surprise this week. the lone dissenter on the policy-making committee, as did george among those giving speeches also sounding off was james ballard. peter barnes spoke just moments
3:09 pm
ago. he joins us now with details. you were making headlines on this because we thought, you know, listening to analysts saying it will be months and months will we get tapir, but maybe not. >> to ask them about the next meeting which will be in october and whether or not and the fed could now tapir. another meeting in december after that. he said, well, you know, october is all live meeting. we could have a press conference if it wants to. well, what kind of numbers, economic data points would you have to see in order to start tapering in october? here is what he said. >> some revisions to past data. strong jobs reports. some indication of third quarter gdp coming in. the housing markets were withstanding the higher rates, things like that, i think, could accumulate to a decision to tape -- tapir. >> very concerned about low inflation, not disinflation or
3:10 pm
deflationary, but he is worried about low inflation, the number is running about 1%. the target for the fed is 2%. he says, i am more concerned about that. if i had to balance its, low inflation verses better numbers. he would stay with no tapering because the fed inflation is so low. adam: the stock about the issue that he brought up. no one has been talking about that. you know, the drop, the dramatic drop in asset values, but that is really the fed is terrified of. that is what you cannot get out of, and there were people who would say that the easy money policy and quantitative easing, call it what you like, has not worked appropriately because we do not have a 2% inflation rate which is what it is designed to do. >> we like a little bit of deflation -- inflation in the economy. we like our paychecks to go up. are on prices to go. but we saw a deflationary and japan. back in 2010 with the economy was still in trouble they were very worried about deflation.
3:11 pm
that is why they did at second round of quantitative easing. this time around that is one of the reasons why they're not going back on the tapering now. they want to make sure that the economy remains strong and does not -- that there is no risk of deflationary or disinflation or low inflation. adam: good to see you here. our man at the fed, watching what goes on in washington. right now we have to watch what is going on with blackberry. nicole, you have is from someone shares are halted. >> reporter: says news pending. there is something coming which is why they help the stock, obviously to avoid volatility in a quick trade. right now the stock has halted for news pending. a couple of things. number one, it is no secret that not long ago the announced that they formed a special board committee to review of strategic alternatives. there were obviously some canadian funds backing the possibility of takeovers. microsoft dropped out of that. also, blackberry may take a
3:12 pm
large write-down on inventory of unsold smart phones when it releases its results next week. they did announce a new phone this week, which is very, very timid and opening of a new phone i mean, most people probably don't even know that blackberry can now with the newfound. i know you mentioned this, 40 percent of the employees are in the midst of layoffs, working on deep stop cuts in order to cut the cost. last but not least, i went to vaporizes store recently. checking out. asked about blackberry. the manager of this huge stores said, listen, i would not even sell it to you. no idea what is going on with the company, and we don't even know what kind of support will have. people are not selling the funds, that is a big problem. adam: and listen to everybody, how the mighty can fall quickly. 50 percent of the smart phone market even after the launch of the iphone, but look at what has happened to them.
3:13 pm
thank you very much. nicole petallides on the floor of the new york stock exchange. closing bell ringing in 48 minutes. one of the nation's top medical and research centers is cutting thousands of jobs. and as obamacare begins to kick in next we will talk to a health care ceo who is an outspoken critic of the president's affordable care act. and how to tackle the challenges ahead. and as we get to break, take a look at this live shot. the flagship apple store on fifth avenue in manhattan where knew iphone mania is in full swing. later, we are going to get through all the hype. whether the new smart five will give apple some of its mojo back. ♪ [ male announcer ] these days, a small business can save by sharing.
3:14 pm
like carpools... polly wants to know if we can pick her up. yeah, we can make room. yeah. [ male announcer ] space. yes, we're loving this communal seating. it's great. [ male announcer ] the best thing to share? a data plan. at&t mobile share for business. one bucket of data for everyone on the plan, unlimited talk and text on smart phones. now, everyone's in the spirit of sharing. hey, can i borrow your boat this weekend? no. [ male announcer ] share more. ve more.
3:15 pm
at&t mobile share for business. ♪ ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. see who does good work and compare costs. it doesn't usually work that way with health care. but with unitedhealthcare, i get information on quality rated doctors, treatment options and estimates for how much i'll pay. that helps me, and my guys, make better decisions. i don't like guesses with my business, and definitely not with our health. innovations that work for you.
3:16 pm
that's health in numbers. unitedhealthcare. do you mind grabbing my phone and opening the capital one purchase eraser? i need to redeem some venture miles before my demise. okay. it's easy to erase any recent travel expense i want. just pick that flight right there. mmm hmmm. give it a few taps,'s taken care of. this is pretty easy, and i see it works on hotels too. you bet. now if you ke that, press the red button on top. ♪ how did he not see that coming? what's in your wallet?
3:17 pm
♪ adam: one of the nation's largest medical and hospital centers is feeling the pinch to get -- package of obamacare. it will cut thousands of jobs and slash more than $300 million from its annual budget. ceo and president addressed employees just yesterday, and
3:18 pm
mike tobin is in cleveland, ohio. he spoke with dr. cosgrove earlier today, and is he pointing the finger of blame for these job cuts at the affordable care act? >> you know, that may be as strong way to put it. a number of contributing factors. $330 million for an annual budget. certainly, the implementation of the affordable care act is a significant factor, and there will be layoffs because of it. they will try to do everything possible before they got to layoffs. streamline the operation, leave vacant positions open. they will incur is 3,000 employees to take early-retirement. ultimately here at northeast ohio's largest job provider, they will have to tell people that they no longer have a job. dr. cosgrove says the soviet trend across the nation as obamacare is implemented. >> this is something that is going on all across the country. every ceo of a hospital that i have talked to is ducking a rut doing exactly the same thing.
3:19 pm
>> now, jay carney said yesterday he did not know any significant details about the layoffs year in cleveland, but he also said there is no hard and fast evidence saying the implementation of the affordable care act is resulting in job loss. we see disagreement with that here. dr. cosgrove says ultimately with obamacare you don't do anything to reduce the cost of running a hospital where treating patients. what happens is you get less reimbursement from medicare, medicaid, private insurers, and something has to get. back to you. adam: the u.s. health care sector seeing more slashed budgets it -- budgets and layyffs? joining us now in a fox business exclusive from philadelphia, the chairman and ceo of universal health services. thank you very much for joining us. i have to ask you. it seems hard not to draw the link between obamacare and these layoffs in cleveland. i have friends who will get hit by these layoffs. they are on the chopping block
3:20 pm
in middle management the clinic. >> well -- adam: can you hear us? are we having a technical problem? >> you just get out. adam: can you draw a link between the laos and obamacare? is there a definite link between what is happening in to events? >> i think we are looking forward to is access for 31 million people. obviously some of that will go to every hospital in the country i am not getting you, adam. there is a technical problem. adam: in new me now? >> yes, i can hear you now. so what we have been looking forward to our additional people , 301 million people who will be covered when the obamacare is ultimately implemented. the difficulty right now is in the implementation, setting up of the exchanges, and that is
3:21 pm
what is happening. i think in the short run a lot of hospitals, the cleveland clinic, the will of a problem because they are not seen the increase in business that they had anticipated. so they are going to have to cut back. i operate very efficiently. adam: you have to undergo 18 facilities got 36 states. when he talks but the cleveland clinic's and is let out there some people who would say these would have come with or without obamacare. university hospitals in cleveland, literally two blocks away. they cut a hundred million from their budget, but they have no layoffs. not familiar with the financials i really cannot comment supposed to start registering october 1st.
3:22 pm
suppose to start being covered, implemented on january 1st. adam: that's okay. if that's not coming down i don't see a situation in which cleveland where the wager even the universal health services can go forward to provide the level of health care we have now. after layer after layer of in the future. >> they are anticipating increases in volume. we have not seen it yet. the economy is not good. people are not working to the level, the number that they should be. so we are seeing that, being pressure from that. we are looking forward to the increase in access, the 31 million people. up to this point they have not been able to pay their bills. they still is a comic of the
3:23 pm
hospital, they still get injured. retrieved them, and it is a bad bet. having 31 million people plus, we are very big in the mental health business. 200 facilities. mental health coverage is increased under obamacare. we're looking forward to that as well. it is very uneven. obviously the implementation is not going very smoothly up to this point. adam: universal health services chairman. the company is expecting of net operating loss of russell hundred $40 million. i don't know if we have nicole
3:24 pm
petallides standing by. the loss a new phone. this week. king did in malaysia. the united states. still not for sale. they talking about smart phone volumes. a pretax restructuring charge. the company expects to report revenue for the second quarter of approximately 16 billion. with 37 million smart phones in the second quarter. none of this is enough to keep a with obviously samsung which controls the smart phone market as far as sales. apple is in second. blackberry which had 50 percent of the smart phone market as latest 2009 is now barely 3 percent and falling. then you have duel with motorola
3:25 pm
and android devices. blackberry will be very interesting to see if someone can step in a purchase that treasury -- company. closing bell rings in roughly 37 minutes. europe is back. germany's iron lady. it could have a huge impact on your investment portfolio. which corporate names could feel the fallout from any political of. >> in germany. ♪ ♪ no two people have the same financial goals. pnc investments works with you to understand yours
3:26 pm
and helps plan for your retirement. talk to a pnc investments financial advisor today. ♪ ask me what it's like to get your best night's sleep every night. [announcer] why not talk to someone who's sleeping on the most highly recommended bed in america? ask me about my tempur-pedic. ask me how fast i fall asleep. ask me about staying asleep. [announcer] tempur-pedic owners are more satisfied than owners of any traditional mattress brand. tempur-pedic. the most highly recommended bed in america. now sleep cooler with extra cooling comfort on our bestselling tempur-breeze beds. visit to learn more, and find a retailer near you. all your imptant legal matters in just minutes. protect youramily... and launch your dreams. at we put the law on your side.
3:27 pm
3:28 pm
3:29 pm
adam: shares of blackberry halted on some pretty bad news with the preliminary report of their earnings. nicole petallides has the latest from the new york stock exchange. any idea when they will start bidding? >> reporter: they will begin trading once again. 3:35 p.m. stay tuned to fox business. we will be covering this. we hate it as soon as it halted and continue to follow. down over 2%. but this number that we are seeing here for a preliminary losses is not good news here for their estimates. forty-seven to $0.51 per share. the estimates were for just $0.16 a so. so earnings per share are going to be obviously atrocious. revenue is looking like it may be over one-half billion versus
3:30 pm
the estimates of 3 billion. obviously very, very light. we also netting, and this is according to the barons, they are going to cut 4500 jobs. taking the charges wealth of roughly 930 million to 960 million. everybody knows that it is no secret that blackberry has been struggling. and thank you to my producer regis give us disinformation. how is it looking? [inaudible] >> reporter: we will continue to follow this. it's time we had was 335. let's wait. we will continue to follow this a little more closely. right now it looks like it is not trading. adam: and the irony of all of this on the day that apple begins a weekend in which is expected to sell over 6 million of its new blackberry. you have to have one. now look. a desperate bid to try to find
3:31 pm
somebody. adam: reading about blackberry. don't worry. nicole still has a blackberry, and everyone laughed. the great product. that looked for strategic options to try that solemn self at least in parts. it is not doing it on its own. >> reporter: and that is the big picture. adam: to resign to take a listen by eight. we will be watching this with you. thank you. let's get to something else. you think you have the fed and the debt ceiling to worry about. think again. the german elections this weekend could have a huge impact on your portfolio off. which companies may be in trouble. we are going to bring in this ceo of fire axe, a company that helps companies set against foreign currencies.
3:32 pm
is that accurate? >> that is what everyone is worried about. the way that the german elections were to deny actually elect elected to the estates that this year is that the christian democrats which is the party of marco will likely or it looks like right now have a grand coalition with a different party -- increase the taxation. but that will do is weak in the euro. you're absolutely right. yes ineffectively. it lowers the dollar rate, raise the euro. volatility going get away. the sec and third quarters. companies in the nest is roughly 42 billion in revenue. 50 percent of u.s. companies have 50 percent of their revenue
3:33 pm
from abroad. companies like warner, harmon got tupperware, philip morris. basic -- they could get hurt if we see the euro fallen value. >> they all have in excess of 30 percent of the revenues coming from the eurozone. some of those companies do better than others. the companies like that's been your investment portfolio. adam: and i you like pfizer. three components and the green. they're leading the dow right now. >> a lot of companies. your earlier talked about technology. they did a great job of managing
3:34 pm
the rest. need different -- different sectors during a very good job. that had impact on earnings per share. others the edges of doing it. we've been following blackberry, the canadian company. the teeseven depictions of of what happened to a european buyer, someone said to the table? >> i don't know. i have not was that closely enough. adam: i had to ask you about that because that is the headline. we appreciate you being their rick -- be here. and it pfizer is one place to look at them and not doing too bad. one of the few stocks in the green. a closing bell rings in roughly 26 minutes. a faster way to book good-night's sleep.
3:35 pm
raking in the venture cap funding
3:36 pm
thank you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future...
3:37 pm
by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. maestro of project management. baron of the build-out. you need a permit... to be this awesome. and from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. (aaron) purrrft. (vo) meee-ow, business pro. meee-ow. go national. go like a pro.
3:38 pm
your financial advisor should focus on your long-term goals, not their short-term agenda.
3:39 pm
[ woman ] if you have the nerve to believe that cookie cutters should be for cookies, not your investment strategy. if you believe in the sheer brilliance of a simple explanation. [ male announcer ] join the nearly 7 million investors who think like you do: face time and think time make a difference. join us. [ male announcer ] at edward jones, it's how we make sense of investing. ♪ adam: want to bring you up to speed. holding an endangered species in my hand. my blackberry. >> i will match u.s.a. you my. it is a great product. the stock, right now down 21%. this is the key story. taking it down almost a billion dollars. that is number one. that is a big charge that they
3:40 pm
are taking. a lot of this is because of the unsold seats in inventory that we mentioned earlier this week when they release this. what a quiet opening of a new phone. but this was a problem in the latest quarter. the numbers come earnings per share, weaker than expected pet. the preliminary the estimates of a loss of just $0.16. as far as the revenue numbers, the preliminary, over one and a half billion for revenue verses over 3 billion. so we know that they will continue to cut the workforce, cost, and another thing, when we talk about our blackberry, when i talked to the traders on wall street, they say that when you are making product and you are making new product there is supposed to be a lot better than the old one. that same company. the feeling when i talked traders is that, you know what, the new blackberry very secure
3:41 pm
for e-mail. that was one of the breezes people a blackberry. right now we are seeing the stock, 23% to the downside. adam: you have asked. you still have -- that one. they still controlled what was 3 percent of the smart phone market. you cannot ignore that. we just saw microsoft make the acquisition. this is where the world is headed. the question becomes, who would buy yet despite? >> well, there are a ton of companies out there. a chinese company, some canadian funds that were gripping money together to try and move forward to take blackberry. so i think there is interest, but the question is, for how much. as you know, they do have patents, high-security. someone is always looking. and in some cases a lapse. so it is a great product.
3:42 pm
it is just too is going to buy it. looking more attractive. adam: a report out earlier this week. analysts say that when you break this company apart it is worth $10 per share. i mean, it is much stronger in the emerging markets in places like india. you mentioned that, but you point out, you have to make a device that is better than the one that you have. they're getting leapfrogged. pretty's and we will have an update to nokia. >> when i look at the shares. by the way, a trader at $5.609 per share. that really seems unusual. seeing exactly how many trades were executed in the $5 range. a new low, i knew annual low. that was -- around $8.
3:43 pm
around sen. it was over 11 are $12 recently with all of the takeover talk. that it's getting hit hard, down 23%. we feel good about it. adam: thank you. closing bell ringing in roughly 17 minutes. check this out. the first guy in line to they camped out 15 days. fifteen days to snag the new generation. but is an impressive launch date have to keep this tree happy? we will break it all down the next. ♪
3:44 pm
you really love, what would you do?" ♪ [ woman ] i'd be a writer. [ man ] i'd be a baker. [ woman ] i wanna be a pie maker. [ man ] i wanna be a pilot. [ woman ] i'd be an architect. what if i told you someone could pay you and what if that person were you? ♪ when you think about it, isn't that what retirement should be, paying ourselves to do what we love? ♪ trust your instincts toto make the call. to treat my low testosterone, my doctor and i went with axiron, the only underarm low t treatment. axiron can restore t levels to normal in about 2 weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especially those who are or who may become pregnant and children should avoid contact where axiron is applied as unexpected signs of puberty in children
3:45 pm
or changes in body hair or increased acne in women may occur. report these symptoms to your doctor. tell your doctor about all medical conditions and medications. serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet or body swelling; enlarged or painful breasts; problems breathing while sleeping; and blood clots in the legs. common side effects include skin redness or irritation where applied, increased d blood cell count, headache, diarrhea, vomiting, and increase in psa. ask your doctor about the only underarm low t treatment, axiron.
3:46 pm
3:47 pm
3:48 pm
adam: take a look at how the mighty have fallen. trading shares. selling out since their resume to roughly 15 minutes ago, down almost 20 percent since they started trading. it is just a bad earnings report. and a half billion in revenue, half of what analysts were expecting, laying off 4500 people, taking in. much more on this, the key now is, who will buy them? we will stay on top of that. this on the day that apple mania is sweeping the nation. there were long lines across the united states as apple fans rushed to get there hands on the latest 5s and 5ci iphones.
3:49 pm
jo ling kent joins us with more. this is not really a new iphone. we will get that next year. >> it was barely in over all. although wall street was not impressed, we remember thousands were still camped out through the night. certainly probably not holding any blackberry. thousands waited. you mentioned there were doing very well and overseas locations. and the gold iphone five as is the hottest item. went down to the flagship store in new york. that is what many people were waiting for. on the website is says that they are sold out of the gold until october. the silver and gray versions are delayed for about 7-10 days. taking a closer look at that number, the iphone opening weekend has become bigger and bigger. estimating that between six and six and half million iphone 5s and pisces will be sold this
3:50 pm
weekend. up from last year's five s. first weekend last year. a clock in at about 5 million units. but that estimate is for both the five see in the five best. looking at some of the cancellation -- cannibalization issues. but the stock has not been reacting to the frenzies sale. just about even all the right now. down about two points. one more development this afternoon. apple tv gonna suffer over all. there is an update that adds features to support the new radio. sheriff order streams and purchases made. adam: i like my iphone five. silver i get chemical to make the letters. >> it does. it is not black. adam: thank you very much. markets have hit multiple record highs. one fund manager with almost 2 billion in assets is so bullish that he launched a brand
3:51 pm
new equities fund. joining me now from new orleans is giorgione. hillary balance fund portfolio manager. it is rates have you here. a lot of people have been saying , we have different analysts that stocks are kind of cheap right now. do you agree or think stocks are overvalued right now and use it all up before you buy more? for. >> a little bit of hard time finding a proper response. the difficulty was you can buy bonds. it's not paying a lot. so there's a lot of money that is flowing into stocks. that forces us to a certain degree. stocks that it's cheap. the problem is you don't know until after the fact is touchy player. we have done some good ones. adam: a two-time. the best funds toward the doing
3:52 pm
it finds the service to to to we sip 19 and a half percent. of 22%. a kind of wish i was with the right now. >> is not a problem. adam: i would give you a call. you like them. you like a 3d systems. why those three? so diverse and different. >> they are. that is the important thing about creating a portfolio. you want diversification, stocks that complement each other. tool corporation is important. it is like an annuity. their largest supplier of pools materials, pool building materials and the world, bigger than the next 40 competitors put together. a pool that needs to be maintained all the time. it will turn black, and you rarely hear people. the average age in this country is about ten years old. , watching. the art of the automobile.
3:53 pm
tell me why you like sotheby's. >> we like duopolies. monopoly, but you can really have monopoly. if you're able to of florida highpriced auctions, and there are a lot of people that are out there that can. and the thing that is important about them, debt, debt, divorce, discretion. the first three fed will. picasso, you have to get a sotheby's and christie's. been around for 250 years. it is the place to go to buy or sell large. the whole world is captivated. adam: this talk. i keep thinking, statocyst in israel, but why 3-d over the others? >> it is the best in their business. a wide variety of different shapes and forms a they are able to offer. think about the important thing that now instead of just thinking of the object of making a model for it, what you can
3:54 pm
make is that thing itself, prostatic limbs, grounds for deep, hearing a wide vas and is interesting because we have all of this stock for a long not to time. we explained what 3d printing is , and everyone understands it. isn't fantastic. adam: you have firms like ups. the giant firm testing 3-d printing in some of their outlets. perhaps this will go nationwide. one of the things to look at. appreciate your being here. all the best to you. >> take you very much. adam: the closing bell rings and roughly six minutes. we will wrap up the weakened trading right after this. don't forget about blackberry added. ♪ ♪ [ villain ] well mr. baldwin... it appears our journey has come to a delightful end. then i better use the capital one purchase eraser to redeem my venture miles for this trip. purchase eraser? it's the easy way to erase any recent travel expense. i just pick a charge, like my flight
3:55 pm
with a few taps, it's taken care of. impressive baldwin. does it work for hotels? absolutely thank goodness. mrs. villain and i are planning our... you scare me. and i like it. let's go what's in your wallet? [ male announcer ] now, taking care of things at home is just a tap away. ♪ introducing at&t digital life... ♪ ...personalized home security and automation... [ lock clicks ] ...that lets you loser to home. that's so cool. [ male announcer ] get $100 in instant savings when you order digital life smart security. limited availability in select markets. ♪ nice car. sure is. make a deal with me, kid, and you can have the car and everything that goes along with it. [ thunder crashes, tires squeal ] ♪
3:56 pm
♪ so, what do you say? thanks... but i think i got this. ♪ [ male announcer ] the all-new cla. starting at $29,900. ♪ [ male announcer 1.21 gigawatts. today, that's easy. ge is revolutioning power. supercharging turbines with advanced hardware and innovative software. using data predictively to help power entire cities. so the turbines of today... will power us all... into the future. ♪ ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond.
3:57 pm
80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. [ babies crying ] surprise -- your house was built on an ancient burial ground. [ ghosts moaning ] surprise -- your car needs a new transmission. [ coyote howls ] how about no more surpris? now you can get all the online trading tools you need without any surprise fees. ♪ it's not rocket science. it's just common sense. from td ameritrade.
3:58 pm
david: shares of. >> shares of brac berry recovering a bit after the bad earnings. as we "countdown to the closing bell." what happens to blackberry. throw it to cheryl casone and david asman. i have a 64 studebaker hoping they don't go away. out of business. let's hope blackberry can find a savior. david: i have doubting thomas on mine. >> i have a picture of my cat but anyway, thank you very much. i do. i do. got a lovely picture of my cat. david: we don't have a lovely picture of the market down, 147 points. of course nicole petallides a lot of things affecting. quadruple-witching time. we have the fed notes. look what is happening. gold in particular, it goes up, comes down. really down today. >> right, gold is down about 41 bucks today, right? we saw gold stocks down along with it as well as the dollar, pretty much flat at the moment. a lot of fed relation.
3:59 pm
>> nicole, obviously the big story the last hour of trading was blackberry taking a big hit. the stock at one point was halted. the layoff announcements coming from the company as well as numbers. what was the take on the floor? >> layoff numbers, layoff announcements. they're also going from six units to four units. they're changing their focus and streamlining which will be better for them. they have $2.6 billion in cash, no debt. they will be a leaner company. we'll see if that will help them going forward. this is something they have to do and ceo recognizes that. david: the three dirty evident letters to coal miners is epa. they came out with new rules affecting coal mining and coal stocks took a hit, right? >> absolutely. talk about stricter regulations and emissions hit the coal stocks really hard especially when they want to have new plants. jenna: rocket fuels nicole, fire eye, doubling what it priced at. look at that. >> so cool to see the ipos
4:00 pm
flying high like this. [closing bell ringing] fireeye. soaring. and my country club is a great one toys, we have a down market. trading down into the weekend. we talked about quadruple-witching hour. talked about statements from fed guys maybe we will at next meeting in october begin to taper a little bit. a lot of factors affecting the markets. might have been end of the week an exhausting week. people not wanting to hold positions going into the weekend for whatever reason. the dow is worst performer of all the indexes you're looking at. down over a percentage point. s&p a little less. nasdaq, okay. look at russell 2000. small and mid-sized caps the least affected by all the turmoil in the market. here is a look at front page headlines beginning with latest comments by fed officials whether or not there will be tapering. kansas city fed president esther george who is the lone opponent of the decision earlier this week said refeigning from the taper has rs


info Stream Only

Uploaded by TV Archive on