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tv   Countdown to the Closing Bell  FOX Business  November 7, 2013 3:00pm-4:01pm EST

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have even gotten their figures on this. sunday we've found disturbing twitter refuse to give us a fox business interview today were they afraid reveal the business network that ask tough questions?
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we with the first business network to put them on the air in 2008 but this is the scene just as the stock went public. they tried not to look hysterical but it they were taking pictures. i get it our is quarter was one dash producer was escorted away. as a young life police cleaving they think independently now another business network could they figure out how to get out their message? we were right there watching all the action but nicole petallides, in my opinion it is studying how we were treated not a good sign they are ready for the big leagues steve mcbride way they should have accepted a nice offer from the fox business we are a leading this is the work week cover things clean and fair and there was no reason to say no.
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whether they want to do another network but why some of the fox business id we would have done an excellent job but that being said there was a huge crowd and you could not get in there. says ceo and the executives in the middle surrounded by traders tuned obviously governors and the like then some of paparazzi and as a shield by the communications department. so unless i would do some crowd surfing at our rock concert it was near impossible to try to get to the center of the crowd or get comments. maybe we will make a better decision to wait for word but not all the at the open but what is most telling that holds onto the gains that we have seen so far.
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>> it is up 86%. later in the program we have qualcomm ceo paul jacobs "first on fox" business understanding we are a network that people listen to and i make the point because i guess we learned from the first business network to put these guys off the air when nobody else wanted to? it has grown exponentially. now one glance at the headquarters and we can see how well they have spent venture-capital list monday that is lovely but can they hold up for the retail investor year after year like google or call cobb? >> that remains to be see there's a lot of skepticism out there talking to others
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is she says she will stay away from this devisee her clients to have half a billion dollars to say basically a company that lost $100 million that defies basic economics that is why she will wait yancey how it goes then they bought facebook leader and thenndid pretty well but who is making a lot of money today? those former ceos and the executive starting "the reader" a $191 million, jack horsey co-founder and both for mercy yellows newly minted milllonaires ian billionairrs'. at 26 bucks a share you can see exponentially it is moving higher. about $50 with the eyes of the day to put into perspective 140 characters
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for the tweets and at $26 per share that is $13 million per character they're getting more expensive by the moment. >> it is important to point out number one, it is a great day if you are a stock voter. and as we understand the big institution to get their hands on it but not the retail investor. as i said we had the founders they are terrific, i think it is up pr department a man named jim? he is scared of us? good luck with that because if it is not the twitter downgrade with the strong gdp numbers may be the federal reserve for the worried that it may start tapering. let's not give too much credit do twitter it has been a crazy day.
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we have traders that the new york stock exchange and chicago mercantile exchange. i am sure you were not crowd surfing but it is interesting day. >> that doesn't have much of any fact all. we have a lot of economic data and this week we have unemployment numbers tomorrow back up. the september number was too late people don't understand if this is a real numbers always seems the unemployment numbers the first true never be will get into .5 months. investors feel they are panicked and will not get the rosy picture. we talk about the bonn repurchase beginning of next year but put that aside where will we be this week?
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coming down to the trading session tomorrow the market had a very good rally in there looking for the opportunity whether it was legitimate or not riggt now is trading ahead of tomorrow >> looking to tomorrow the of volatility index is down about 30%. i just wonder is too much complacency? it is the old adage that is true. am i wrong? >> it's starting to feel like 1999 but the reason you see the vix index at the low we have done a study of stairs and if we call a strong year in the stock market between 15 and 20% then the next two months average after the first 10 months? the average about 2.5% each
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almost 5% for the next two @%nths that is what you see that stock market have some complacency because there is a lot of folks who will take the pullback to worry about tomorrow's numbers but do get some calls and get back in the market. >> of oil traders are not getting in today but i would not say it is a very stark moved but again people wonder did it find a bottom? we are up from the fellows. do we see dollars a barrel? your friend thinks it will stop at 911th. >> i am 92. [laughter] i think we went down yesterday today the low is $93.80 but the market has to work to digest the numbers
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but unfortunately this story was the gasoline which was very, very weak and those values to give me a further affirmation or contradiction was very very weak and that is surprising because news has come out we have low prices, 38 states have prices under $3 of the pressure is on the market to go lower and over the next few weeks about anything coming out of the word pork that it would work its way down i would like to be right for a change. >> you are right off to end. as the markets continue we are watching your money for you but it is twitter time arguably the most known part
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is that #. kim you imagine that? the man who invented that is with us live is this a dangerous stock of jeopardy? we have global end of their joining him plus it we have a "first on fox" business interview with us the go that is way bigger say and twitter qualcomm ceo fresh off the earnings playing of the global smart phone explosion he is at the forefront. don't miss what he has to say what is next. what is selling and where is he going? we will be right back.
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liz: power of the hour this technology company jumping more than 10 percent earlier today now just slightly under after disclose the
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first purchase orddr for the in touch sensor technology used in tablets and notebooks and smart phone it is ordered to come from its main partner tell that is now having gone private do it extricate itself from the carl icon situation now starting to make some orders and you the pixel is the beneficiary it appears right now. bbck to twitter flapping its weightings in hyper hysteria refusing to come on with me or anybody from fox business because the p.r. department is scared but the stock is up more than 80%. all this week we hear debates about whether is it a great place to be? the of the others flew yesterday after the bell. >> get some more information about their businesses and the $50 target still holds
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but they are saying what the hell is this guy smoking? liz: absolutely hates it but whether people really saying today? can the investor make a profit at this price? joining me now is bryan sozzi and sitting in our newsroom because he is not scared we have chris, the inventor of the twitter #? that is fantastic. you have been insincere the days android off the bat i don't know if you own shares you must be happy if you do. >> i don't. but that twitter has an amazing things people still question what it is or what it is for but the question
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back in the day with 2,000? -- 2006 people use it. liz: dick the dallas -- she said -- help the my daughter with homer rice said put the number and she said what is that? she said that is a #. [laughter] about the company progressing but your invention is really in the collective mind of what twitter truly is in my opinion. >> it has done a good job to work with its users with functionality and it has built a brand that people want to use. whether intentioned or accident it was kept extremely simple of walling for a large number of people
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to get on board and follow and it was skeptical of the hashtag now resistance to add additional features has allowed it to grow as people become more mobile using products all day long. liz: they should make you the honorary chairman. brian, what do you think they think of the value? up 86% from the high. is that a safe bet for investors? been a think you for giving me a second language we all talk given hashtag and i have hashtag twitter fever even facebook as a second language i'd like to evaluation at 30 but at this point it is out of the realm i don't think if you are a mom at home you cancel your day to learn more about
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twitter because there are key functions into work with traditional media companies and those who can integrate twitter into the retail environment like wal-mart or targets and number three, international one of the lowest market businesses and i am not comfortable yet to get on board. liz: as chief economist over there do they have a sustainable plan to make money? they are not comfortable yet >> this company has a bright future in it is winning fell four to be the second screen social utility alone all a bit the way it has revolutionized in journalism. but now it is technology these are rolling stones tickets you pay extra to go to the premiere so it is not a good idea or not part of
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our rational long-term portfolio. liz: lets it breathe a little bet but are you worried about the user experience as now have to your answer to analysts and shareholders the outset of the day's news their weirdness as they were warned not to buy the wall street journal? >> i think twitter is in a deposition -- a good position to the card what makes people love their product. simplicity, speed, clarity, there are moves in the direction people cannot relate to. twitter is very aware there is always up and comers looking for the lunch it has set for itself i don't know if it injures their success to make them aware they cannot just give up what
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they have done so far. liz: i'd like warning and brian, are you scared of us? >> no. liz: i did not seek you were scared but when you are sprint from other business networks you have no spiny did your p.r. department. just kidding. and chris, the creator of that #. good to see you all. the closing bell greenspan 39 minutes so now the tiny little bird has taken flight to. what to the underwriters say about the first day of trading? charlie gasparino has been following this ipo all day he is coming down to give us exclusive details. we have a very important question.
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you may have the answer. how should investors run with the bulls and risk the market downturn if tapering by the federal reserve this sooner rather than later? rienzi bateman $15 billion in assets under management shares his strategy generating cash and stock picks. don't miss them. i don't think he is shaking in his boots about talking it to be 34 -- ♪ [ male announcer ] imagin is cute blob is metamucil.
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how old is the oldest person you've known? we gave people a sticker and had them show us. we learnea lot of u have known someone who's livedell into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed much
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is the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪ liz: despite a pause down 102. liz: points today the markets continue overtime. many investors are wondering how much juice is left a and how you invest in the bull rally in fire mitt when you are worried travis stumble? our next guest has a perfect strategy he will squeeze out some yield we have randy bateman and a fox business original were you ever scared to come on with me?
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>> no. it sounds like you are a woman scorned. [laughter] they will be the hot ipo with a cold stock or the cold ipo or a hot stock but it looks like it will be the of former. liz: due may talk to the one who brought you to the defense refers to put twitter on the air in 2008. now let's get this straight straight, randy there is a bigger concern with the stock that could be fly by night but when the fed decides to do taper it is now expected just today we have the gdp number better than expected now people are worried but is there a way to protect your portfolio
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and grow it at the same time ? >> absolutely. what of the things that have driven the market causing the expansion is the of llck of alternatives of the equity market will still be viable. one of the tools we use is a combination of good equity analysis together with options strategies. collect a dividend in early september but it by the stock and then write the covered calls then the plot of the porsche did you did not buy between now and december 21 collect a dividend and the premium on the plot on the call to get interest on the cash it works out to about 4% or if
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the stock stays the same that is about 32% return that is not bad. liz: that formula we will put on the facebook page because we want people to follow a properly. baxter international is one of them. but all the while i see a field about yield. >> we like themes that are predictable. with the growth of incoming and agricultural products, we know that they can take advantage of that. with the high on equity with the reasonable yield as well >> a different kind of play
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wide you like it so much right now? >> we have two major pending pieces of legislation with the dodd/frank bill and the hca taking a page out of history with sarbanes-oxley there has been a reduction of public companies ever since that point in time we think they will do the same thing. they will promote merger and acquisition activity and we know the same thing will happen with the smaller fry mitchell institutions. the best but we qcl there is to look at the facilitators. liz: you are up a 92% of the past year. think you so much.
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and when he for started to come on and businesses the dash fox business he did not have 15 billion under british rinaldi is as a frequent guest. closing bell in 29 minutes and charlie gasparino is well ahead of the twitter ipo story from the beginning so far it annoys him so much that that maybe the reason they've refused to come on3 with us today because your reporting was right on the money? not assigned they are ready for prime time if they cannot handle that. the market's closing in 29 minutes fox ford / on call if you miss the closing bell we give to the market freeze and what we're watching tomorrow
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liz: while twitter is basking in its ipo debut glory, its social media counterparts are not faring as well, right, nicole? >> reporter: first, i'm going to show you right here live how twitter is faring. there it is, up 75%, and it's so key to continue to watch and see if it holds on to the gains. it was a $26ipo, it opened at $45.10. and it's already traded 108 million, so you know that shares have been changing hands
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throughout the day. that being said, is money being reallocated out of other social media stocks into twitter? maybe, maybe not. let's take a look at how they're faring. you are seeing facebook, yep l and groupon with down arrows right now. however, they have had stellar gains. groupon's up nearly 100%, yelp up 227%, linkedin up 83%, so you've certainly seen great performance from these particular social media stocks but today tumbling back while twitter continues to hold on to some nice gains. back to you. liz: okay, nicole. thank you very much. charlie gasparino's report was so on point that rescared twitter. maybe. he's been talking to people on
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wall street that were very close to the twitter ipo. we're hire not only to talk about the stock's reaction, but it is now be off the highs which had been up 86%. there's some slower, dumber money i guess twitter people would call it that bought at those high levels. >> you know, listen, in the positive column i think twitter was not as greedy as facebook. they didn't do a massive offering, they didn't price this thing at some astronomical level at the opening. they got a very good pop. but here's where the small investor should be running away from that stock. many small investors bought at about 49. it's clear that's retail because what happens is the smart money, which is in at 29, sells, essentially, at the open. it opened at 40. they were selling. and then there was some -- and all that, all that buying there is probably retail, and as you see, it went straight down, right? was you robably had -- liz: right, so retail. the people twitter claims they are out there for. >> at the end of the day, we got another pop.%
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again, that was probably retail. that's the small investor where twitter will proclaim thaa they're for the little guy and everything, but they just screwed over all the smaal investors x that's clearly what happened here. i will say this, i believe in personal responsibility. i'm, you know, conservative in that respect, and, you know, so you as an average person if you bought this ipo and did not listen to what i said yesterday -- liz: i was going to say, you warned people. >> i told people stay out of this thing. it could have a massive pop -- liz: we had guests that said don't buy it until it's below 30. >> you don't need to buy it out. if you did, you deserve what you get. let's be honest, companies like altruistic are not charities. they're nasty, conniving, schememy individuals who run these company, and they want to lure in as much dumb money as possible. i mean, dan costello, who's the ceo, when it really -- liz: dick. >> dick or whatever -- george. i don't care what the hell his name is -- liz: yeah.
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because he's not talking to fox business, 'cuz he's scared. >> this guy is a nasty, slimy nerd from silicon valley. [laughter] liz: oh, come on. >> that's my opinion. he will lure in -- i mean, his whole job is to lure in dumb money so they buy this thing at some astronomical price, and it keeps it stable. that's why you hire nasty, screamy, you know -- schemey, you know, investment bankers. i've written books about this. listen, liberals think i'm some sort of a pro-bank guy. i've never been. i've always been very, very critical of these guys because there's a game, and they're nasty individuals, costello's like that, the guys that run goldman are like that. we're here to, basically, you know, unwrap it for you. liz: and i think that they know that, and i think that's why somebody over there is hashtag spineless. [laughter] hashtag is twitter. maybe it's their prd., by the
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way. -- pr department, by the way. charlie is giving you a path. >> don't blame the paths, you blame the guy that runs the company. and i would just say this, these guys, it's a big sort of i would say circle something between wall street and silicon valley. it happens all the time. the average investor gets crushed. part of it is the average investor's fault because you buy into this thing on a day like today. you didn't listen to us last night when we were hearing even from underwriters do not put in market orders on this thing pause market order mean -- because market order means you buy when the market allows you to buy, there's a good chance you would have bought at 48, and that's a problem. liz: let's look at some history. fox business and twitter came into existence around the same time, 2007. and they were -- we were the first business network to profile them. then, of course, they repay us by refusing to talk to us because charlie and our company -- >> by the way, you know what they're mad about me?
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me and katie roof who's a young reporter for us did a story where we quoted the flak. do an airks ipo?e you going to we said 20. 14, but that's what we meant. we said dot, dot, dot. they didn't like it. liz: because you were right. >> you know what they did? they went out to all these tech journalists, most of them were shills for the company, and they said let's go attack fox business, and they did. it was one difficult friday. guess what happened the next tuesday? they announced their ipo. liz: oh, really? what a shock. >> that means those twitter guys basically lied to the market. liz: twitter is not profitable after years of its launch, fox business is. so here's the question are they, hashtag, jealous? >> i would say this, they are run -- i mean, listen, they are run by, like, you know, these sort of silicon valley nerds and, you know -- liz: listen, i like the founders.
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i mean, jack and biz and evan, they came on with us. >> how about this guy, george? liz: dick cost low. >> is he carrying? liz: can you believe that? >> that guy's not a pie san, there's no way. he is definitely not a paisan. liz: definitely not a berkeley graduate, because if he were, he would not have been afraid to talk to us like paul jacobs, yes, of qualcomm. >> is berkeley like a positive? liz: yeah. honey, i went there. yeah, it's a positive. >> how about pace university? liz: pace too. but i can tell you this, berkeley graduate paul jacobs, the ceo of chip maker qualcomm, he's got it, right? he's got the spine. he's looking east for growth -- >> we've shown -- liz: i'm talking about paul for a moment. >> who cares about him? i want to see a picture of costolo. how do you say it?
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can you put a picture of him up there? why are they not putting a picture? this guy looks like a guy you beat the hell out of. liz: no, charlie. no. >> no? i'm not advocating business, i'm saying he looks like. liz: okay. let's get back to the guy who has the spine, that would be paul jacobs, is joining us first on fox business. all the competitors swirlingbout around him because he was the leader when it came to smartphones. look at that guy. that's a berkeley graduate for you. >> look how good looking that guy is. put up dick's picture again, look how ugly he is. liz: i'd rather look at paul, and you guys are going to hear from him with a way bigger market cap than twitter, first on fox business. ♪ ♪ [ male announcer ] need help keeping your digestive balance in nc?
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liz: it's one of the most cutthroat technology businessee on the planet. it's mobile communications equipment, especially semiconductor chips, and with companies fiercely competing for market share and some of the smaller ones too, qualcomm has been for quite some time the most prominent player in the smartphone business and elsewhere. they're not just in smartphones, but the company reported fourth quarter earnings, beating on revenue, coming in slightly below street expectations for epa and its outlook. joining us now first on fox business is paul jacobs, qualcomm's chairman and ceo. good to see you, paul, thanks so muchh and let's get right to it. how's the business, how's demand in what you make? >> so we, we just finished a great year, as you said, and it's actually been a culmination of about three years of 30% average growth, annual growth over those three years. so looking forward, yeah, we're
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not going to grow quite as much as that, but we are seeing second half of our year going to be strong because we have 4g launching in china, we have new products coming out, we're doing a little bit in terms of shaving some operating expenses but still investing. we invested $5 billion in r&d on some great new products last year, and we'll continue to do that. so business is still strong. a lot of demand for smartphones and mobile data. liz: let me get right to the china business because you say, you know, rolling out the 4g which is fascinating because that could be just a gigantic market, recently lenovo looked to take the top spot in sales, and i just want to know who are your most successful partners at least when it comes to the partnership with call -- qualcomm? you tell me what the landscape is like there. >> and in addition there's other companies that are well known, washington way and zte, but
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there's also a lot of smaller companies that aren't very well known, and there's a lot going on there. we just passed a billion dollars in revenue in what we call our emerging accounts which are these very small companies that turn phones very quickly because we give them reference designs. but we are extremely excited about the launch of 4g. we're on our third generation of our 4g modem, and we continue to push the technology forward, getting faster and faster data rates because that's what people really want. liz: okay. there's the smack be talk, all of our competitors are far behind. you can't argue, but you know that intel now with an engineer at the helm, they're ready to start chasing fast, and they may throw in a little rocket fuel to try and catch up in that realm. what do you do to keep your leadership position there? what are you doing? >> we're really investing heavily in new technology and few products. and -- new products. and, you know, it's interesting
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because there's a lot of talk about competition between intel and qualcomm on microprocessor technology that go into these mobile chips, but we also have the strong lead, as i said, on the radio modem side, but we have other stuff in there too. the whole front end, the way that the phone deals with multiple frequency bands, the way that it does graphics and multimedia and integrates with sensors and cameras. we have a lead in all of these areas right now, and they have to take all of that stuff and integrate it into a chip in order to be competitive with us, so we're going to continue to push hard on all those fronts. liz and it's fascinating to see because we were out in september for three days in the valley, our silicon valley coverage, the heat around wear ables. are you guys interested? how important is that future business to qualcomm? >> well, wearables are very interesting to us. in fact, we have a watch that we brought out as sort of a reference design to try and set the bar for where wearables
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should be, and it incorporates some really new teccnology. the new screen technology that we've been developed, new wireless charging technology so you don't have to plug your watch in, you just set it down on the carrying case, and it charges. liz: cool. >> and we believe very strongly in wearables because it's going to to be the next way that you interact with your phone. i get all sorts of news alerts piped right to my wrist, and it doesn't distract me because it takes one swipe of the finger to get it off of my wrist and on to the next thing. i really believe people are going to enjoy these kinds of technologies. there's a lot of effort in that area. we're building chip sets and other -- liz: paul, can you hold your wrist up once again? people are dying to see the next hot thing, and you have it, the qualcomm smart watch getting all kinds of important breaking news. i hope from fox be business as well. paul jacobs, a friend of fox business. never afraid to come on our
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network. thank you so much. we'll see you next time. there you are, imagine that. qualcomm, 115 billion in market cap. our thanks to paul jacobs. closing bell ringing in six minutes. the dow jones industrials falling on some involving credit data that was just reported out of the fed doesn't look so healthy. we're going to get more on that in just a minute. a few stocks, though, are on track to fortune in the green. -- to finish in the green. we'll show you the winners next. [ male announcer ] once, there was a man
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it's a tough day. we did get federal reserve numbers came in, revolving credit, visa, mastercards, going down. let's get to adam shapiro and get ready for "after the bell." >> look what happened in july, august, september. september down, 2.9%. liz: right. markets were down already but they took another leg down by about 20 points on that news. >> could certainly upset people. liz: let's get to nicole petallides. let's get to twitter. it could soar on the first day. off the highs. we feel sorry for retailer investor that jumped in up 86%. because now it is up 75%. >> right at high of the day it was $50.09 a share. closing now at $45 even
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if you bought it at 49 already lost money. adam: another picture after model s fire surfaceing. >> this is tough with this public relations that become as big mess. tesla down 13% this week. this is something they have to clean up now. liz: up more than 400% over the past year. >> right. a winner this year. liz: winner. elon musk a friend of this network. we were first to show the rocket ship company, spacex, remained true to us. unlike twitter people. we'll hear more. groupon daily deal sight taking a hit ahead of third quarter earnings after the bell. >> that is under pressure. that is down over 4%. dow jones industrials hit a record high today, disney coming out with numbers. down 2.6% going into the closing
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bell. certainly names to watch here. >> as we head into the closing bell what about solarcity? [closing bell ringing] >> solarcity. we're watching that down. winner year-to-date. liz: here comes the bells on wall street. netgear ringing those bells. over at nasdaq. we stick by the nasdaq not justs new york stock exchange. let's see how stocks are finishing up. dow jones industrials ending up pretty much low of the session. the numbers were down 147 points. adam, you were talking about those revolving credit numbers that came out shortly best bell rang. they failed to inspire anybody. in fact pouring cold water on rest of indices. nasdaq is down 74 points. s&p 500 lower by 23. russell down nearly 2%. adam: time for the front page headlines beyond twitter of course. america's economy grew at faster past than forecast. gdp rose by 2.%,


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