tv Markets Now FOX Business November 19, 2013 1:00pm-3:01pm EST
market is about to take a plunge? lori: and what about the economy that keeps on trudging along? a slow growth and high unemployment are our new normal. adam: the government launching a full inquiry into the fires in six weeks. lori: with two provincial campaigns behind her, and romney's turn in the spotlight. what they have been up to, what she thinks about the obamacare rollout and how to make the perfect sandwich. all that and more. as we do every 15 minutes, let's send it back down to the new york stock exchange to see what is hot. >nicole: i really am looking at the dow jones industrial bid number 40.
if we move higher on the dow jones industrial gains and close around these levels, you will see the 40th record high of this year. that would obviously be a big, big deal. we have seen a long winning streak. so you do see the nasdaq and the s&p have pulled back. records for these recently, however today a mixed bag. 3m, home depot, johnson & johnson have hit record highs today. momentum seems to be still to the upside. commodities are gaining. the dollar pulling back but certainly a lot of names we are watching and home depot with higher volume as well. lori: and this news alert. waiting for official word of the jpmorgan settlement as charlie gasparino first reported, the deal announcing today with $13 billion payout. the deal will settle claims the bank overstated the quality of
mortgage security during the housing boom. in talks for weeks and as charlie has reported, lot of the back-and-forth has to do with the language of the deal. adam: making comments about the future move. when he was quoted saying he is cautious and that the market could easily have a big drop, but in a statement on his website late last night he wanted to make clear looking ahead it is almost impossible to predict what a market will do in the short term saying there are too many variables. lori: best buy shares plunging third-quarter results came in ahead of estimates but the retailer warned margins to take a hit as it tries to keep up with the competition for black friday and holiday deals. the company getting a vote of confidence, it is showing visible progress and we are seeing it in the share price u
up 270% so far this year. down in excess of 8% at the moment. adam: right now we're following latest development of the tesla model s fires. jo ling kent is here with more details. >> investigation to investigate comes after three fires involving tesla model s in the last six weeks. they are looking for safety defects involving the undercarriage of the car in 2013 model s vehicles. they posted investigation but there is more to it than that. a potential investigation a waste of time but said he hoped to bring about a longer-term positive outcome. there is a larger issue at stake about safety of electric cars, it will delay the advent of the
increase of global climate change with potentially dangerous consequences worldwide. asking why does the tesla fire with no injuries get more headlines than 1000 car gas fires that kill hundreds of people per year. less than an hour ago he adds what makes this incredibly unjust is the model s to date has the best safety record, no injuries or deaths ever. regardless of the investigation, which could take several months, he vows to extend the warranty to cover any fire damage is caused by the driver even if it is caused by the driver alone. although this investigation could involve a recall today, shares are up just a bit right now. -@in both of his blog posts and tweets, he promised his
investigation ends up with a problem or need for improvement tesla will implement the changes, all cars old and new, for free. lori: with the do dow flirting h a new milestone and the economy moving in the right direction, former treasury secretary larry summers warning about sluggish growth that is lingering so what is ahead for the u.s. economy? joining me with his outlook, great to have you on the show. so what do you think of the comments saying slow growth may be here to stay? no big upshot to look forward to? do you agree? >> this goes back to finance 101 and the first thing most people learn is past performance does not guarantee future return. that is appropriate for the economy at this point. absolutely i agree the county has struggled through a sluggish recovery over the past three or four years but there has been
some very special factors, the collapse may housing sector sector, a euro crisis might do the euro zone second-largest economy in the world and on top of that the hurricane last year with much of the northeast, here in the u.s., all of these things cannot be dismissed. i am not somebody who loves excuses, but there were very good reasons to explain the underperformance. this year alone the tax increase and the sequester. the future will be very different. lori: this summer's speech was a couple of weeks ago, but the reason it is sticking around is he specifically referred to the zero lower bound. it is essentially the fact the federal reserve has lowered rates so far 20, cannot rate lower at this point for job growth, to spur overall economic growth troubling by way of the fed losing its power and influence and troubling to the
broader thesis this economy has nowhere to go. what has to happen to get it out of the funk? >> the fed is not out of ammunition as most are well aware, they have been embarking on this quantitative easing program, massive program of security purchases which pushes longer-term interest rates like treasury notes, consumer credit card loans and mortgage rates down to lower levels and that is where the fed is impacting the economy right now. lori: some people would suggest the fed is out of ammo. quantitative easing, this additional tool again has done nothing to provide meaningful economic growth, to provide meaningful job creation. the economy is moving in the right direction. gdp is showing growth, but we are nowhere back to where we were six, seven years ago.
will we ever get to that place, it sounds to me like we should be satisfied with where we are and the direction and the pace it is headed. speak of you ask anybody who refinanced their mortgage or bought anything on credit on big-ticket items, those folks will tell you low interest rates are helping the economy and we're moving in the right direction with the pace of hiring is faster, this stone weighing on the economy is actually much smaller next year, threso the economy is on the cuf accelerating. now more comfortable issuing new credit as easier terms. there is a whole plethora of indications that not only will continue to accelerate but we will be pushing to and above trend.
lori: so we should be in good shape for the quantitative easing, the wand purchases. >> that is why we're having this discussion now. it could happen in the december meeting. we will have to see what the next employment number looks like. if not in december, we will see at the first quarter of next year. lori: i appreciate the discussindiscussion, thank you . adam: investors prepare for a possible easing of sanctions against iran. fox business contributor in the trading pits of the cme, and we see crude go back over $94 per barrel? >> it could happen. we're seeing a big unwinding of the spread. a lot of reports of how commodity funds recently lost a lot of money and bad debts, today's action you can see why because it has been reversing all day headline by headline.
originally the talk was to bring the brent crude down, as people got out of that risk on trade, but we had an explog]íez and refinery indulge them bringing it back up again. but it is going the other way once again because of a report out of libya it is loading its first oil tanker in over a month. so that could be a sign we will get more oil from libya. this will impact gasoline because what is happening now is the back and forth depending on how you want to get that impact. back to you. adam: all right, phil flynn. thank you very much. lori: and romney's case on the health care rollout and president obama's plan to make it better. adam: the art of the automobile from the world's fastest car. 334 the world's finest vehicles. we put you in the driver seat ahead of the auction in
new york. lori: gorgeous, classic. walmart giveth and walmart taketh away. as a nation labor report says walmart threatens protesting workers. details ahead. we went out and asked people a simple question: how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed much is the official retirement age. ♪ the question is how do you make sure you have the money you need
losing thrusters. i need more power. give me more power! [ mainframe ] located. ge deep-sea fuel technology. a 50,000-pound, ingeniously wired machine that optimizes raw data to help safely discover and maximize resources in extreme conditions. our current situation seems rather extreme. why can't we maximize our... ready. ♪ brilliant. let's get out of here. warp speed. ♪ a lot can happen in a second. with fidelity's guaranteed one-second trade execution, we route your order to up to 75 market centers to look for the best possible price -- maybe even better than you expected. it's all part of our goal to execute your trade in one second. i'm derrick chan of fidelity investments.
our one-second trade execution is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. lori: it is time to make a little money. charles with a look at major players. charles: this is a natural gas play. i did this earlier this year, talked about a lot with stuart varney. we got out too early, did not make the entire move. i have been waiting for the pullback. yesterday put a strong cell on it. this is a play on the miracle of liquid natural gas that these guys have all parts of it. liquid vacation, distribution, storage and the fueling station. they sell equipment for all four phases of this. they made a huge and rode into china.
this liquid natural gas miracle, everybody wants a piece of the action. the problem was adjusting the guidance of the lower, despite the pullback in the stock but under 100 i would start taking light a stock with the idea maybe holding it for at least a year, but i think it would get back to $130. adam: china is now getting in on fracking. can they turn it around in a year? charles: they already have orders in china, that is what i'm talking about. china wants what we have. hundreds of billions of dollars worth of fossil fuel, but we know about this smog issue, i think it is going to work out very well for these guys. lori: other susceptible to the commodity and price changes? charles: these are usually longer-term projects and are not susceptible.
it is something we need that they got pretty good awards in america. this plays well. i don't think it should unless we see a serious breakdown in natural gas, anything associated could get hit, but even that would be temporary. we could actually talk about this for an hour. lori: i know. good stuff. adam: time to check the market again. nicole petallides on the floor of the new york stock exchange. the campbell soup company. nicole: i think it is good, would be happy to have a cup of campbell's tomato soup. but the sales numbers were little bit disappointing. a loss of over 6%, at the lowest point today 38.88. they came out with their numbers and a drop in demand, including the eight for example. they have been forced to cut their numbers.
obviously it is a real disappointment for the quarter and for the outlook. down 6%. adam: nicole, thank you very much. while many stores in ohio are launching a food drive for needy workers but it has enraged some employees who have staged walkouts. liz macdonald joining us. liz: we have been tracking this developing story. a fate of conference calls by union groups thing we want to expand black friday and thanksgiving day walkouts. and local individual walmart store outside of cleveland, ohio, put out boxes, here is the sign you will see here. your management team is donating meals for workers for associates for fellow employees at walmart, so the push is on saying walmart clearly does not pay enough for
its own workers to the point workers themselves are donating canned foods for fellow associates. adam: this raises an interesting question, the argument the union makes is you and i subsidize lower wages at walmart through food stamps, benefits that lope gets. liz: they noted 300 workers at the walmart store will cost taxpayers over $900,000 in food stamp benefits and government help. walmart is saying essentially this is a local individual store asking workers to donate if they want to. these are for people whose spouses have lost a job or child support. but this comes at a very difficult time for walmart because the natural relations labor board say we can proceed with a complaint in a case against walmart for allegedly retaliating against workers who walked out on black friday last year and had thanksgiving day protest last year.
more news coming. we are seeing protest gearing up against walmart stores in california, texas, ohio and illinois and florida. what we're also seeing is this is a push for $25,000 annual salary wage for workers. that is what they want among other things. lori: always around holiday season. adam: how bad are things in detroit? a judge's unusual plan that would turn the city into a charity case. lori: the aspirations of the romney clan from the matriarch herself, and romney. her advice to her five sons and more than 20 grandchildren about getting into politics. adam: the word of our times. justin bieber has made a business out of it. selfie. details just a head.
ttdd# 1-800-345-2550 can take you in many directions. searching for trade ideas that spark youruriosity tdd# 1-800-345-2550 you read this. watch that. tdd# 1-800-345-2550 yolook for what's next. tdd# 1-800-345-2550 atchwab, we can help turn inspiration into action tdd# 1-800-345-2550 boost your trading iq with t help of d# 1-800-345-2550 our live online workshops tdd# 1-800-345-2550 like identifying market trends.
tdd# 1-800-345-2550 now, earn 300 commission-free online trades. call 1-888-628-7118 or go to schwab.com/trading to learn how. tdd#-800-345-2550 sharpen your instincts with market insight from schwab tdd# 1-800-345-2550 experts like liz ann sonders and randy frederick. tdd# 1-800-345-2550 get support and ta through your ideas with our tdd#-800-345-2550 trading spialists. tdd# 1-8-345-2550 all with no trade minimum. and only $8.95 a trade. tdd# 1-800-345-2550 open an account anrn 300 commission-free online trades. call 1-888-628-7118 to learn more. so you can take charge of your tradg.
one of the strongest on record. the obama minister obama adminin officials including health and human services secretary kathleen sebelius were warned as early as march about potential risks with the launch of the health care website. according to documents released by a house committee. the firm said a compressed testing window could affect the administration debility to iron out problems with healthcare.gov after its rollout on october 1. butterball has mistry on his hands. the company is looking into why some of its turkeys have not plumped up in time for thanksgiving this year. they said last week the supply of turkeys weighing 16 pounds we limited for the holidays. those are your news headlines on the fox business network. lori: thank you, lauren green. to present a campaigns now and romney's turn in the spotlight. the wife of mitt romney is out
with a new cookbook. it is called the romney family table and sales of the book are going to cause netgear to her heart. she is donating proceeds to center for neurological diseases at the hospital in boston. i had the pleasure of sitting down with an rally to talk about the book, politics and her take on the troubled obamacare rollout. >> my heart goes out to those individuals having the policies canceled with no other option to find a replacement. it is terrible commit is really awful. i'm hoping these things will resolve themselves quickly but i hate to see my husband predicted this would happen. lori: he was so vocal saying what he did about the formal care act. >> he said repeatedly he would not lose your policy, but that did not turn to be out the case. he is very frustrated.
they did not tell the truth about this and if people had known that, i'm not sure how many people would have supported the bill. lori: do you think this extension insurance companies will be to continue selling policies for the president's fixing out late last week will help? >> it is throwing a monkey wrench in there. now you go figure it out. there are some states that will not change, some that are. lori: how is it? >> we just got back from peru, they were able to go up in the mountains of peru, remote villages with us and see the wonderful extra in a individuals who live there that some of them have never seen a doctor. we were there to really do those things. right now i am working to coordinate relief efforts to the philippians and i have a brother
that just had a hip replacement and is heading to the philippines to help coordinate the relief efforts reported together to get into the philippines. lori: further political ambitions? >> a lot of people are asking if my son will run for different offices, and their mother is wisely telling them this is probably not a wise idea especially if you have young children in the home and do what you are supposed to do, raise those kids first. lori: five sons, 22 grandkids, what is abou it about recipes tt keep families together? >> i think the kitchen is the heart of the home as we all know. more poignant, vivid things came back to me. the feelings i had around the food i was served when i was a child. teaching me how to cook, my mother and i wish i had absorbed more.
at the moment you always think it is going to be there, and we talk about this when you first get married and try to cook and cannot even remember, you don't know how and you wish your mom and grandmother were still around. they are so important we build, the feelings of comfort, the feelings of love, the feelings of just you know you are cherished. lori: the taste of fluffernutter sandwiches. i like the little dig against mayor bloomberg saying this is certain to be banned in new york city. >> it is just funny. those are the not permissible things the mothers would serve every day like fluff. as a grandmother i never had the honor to give them whatever i want to give them. the moms are very atrociously oriented, but the grass child has to have a fluffernutter sandwich. lori: all of us. what would life be without fluffernutter?
available in stores now. adam: to detroit and other financially depressed cities awaiting a historic ruling. hinging on a judge's decision whether detroit qualifies to go through the bankruptcy process. politicians, retirees and investors wait, the federal mediator indicates suggesting different short-term fix. u.s. district judge is asking national and local charities to contribute to a private fund to help bail out detroit. "the detroit free press" says he wants the money potentially hundreds of millions of dollars to help promoted pieces of art from hitting the auction block. there have been concerns part of the institute of arts collection could be sold off to satisfy creditors. some estimates say the collection is valued at around $7 billion. lori: jpmorgan's redemption to settle with the department of justice in a landmark payout.
lori: stocks now as we do every 15 minutes. let's head to the floor of the new york stock exchange and nicole petallides. stocks turning lower here, nicole. >> that's right. we've seen stocks are mixed. we had some back and forth action. don't forget, we have record highs for the dow jones industrials. by the end of the day it would be the 40th record high this year. we're bringing you right over here to take a look at boston scientific to look how it is faring at this moment. up 3 1/3% for boston scientific. won approval for a device that treats muscular disorder. over 500,000 people actually have this issue. so with this it will be treating parkinson's disease in europe. adam: israel, colombia. it is for a dystonia a typical . >> thank you, nicole. adam: riding markets higher. collector cars earn better rate of return than the s&p 500. at least they did according to one index between 2000 two and
2012. that is the barrett american any index. they're presenting the art of the automobile with 34 elite collector cars, 18 which are expected earn more than a million dollars. here with your inside look at this event rm auctions chairman and founder rob myers. we welcome you to fox business. this is really an important auction. it is the first auction of this caliber in 10 years. you have some amazing cars. tell me, about a 1938 tall lot, that will go anywhere from eight to 10 million. >> this is it one of. they built two. the other car had the body destroyed. another client of ours has a car similar but on a different chassis. so this is the only car that remains. original coach work. original body. i believe it is a great buy. adam: show video actually of these cars. it is the white car you will see. it is convertible. it's a beautiful car. you will see it.
there are all kinds of cars. as we look at these you have historic mercedes-benz, you have got bmws. tell me about cars that will be up for auction on the 201st. >> we want ad selection that started in the 18 hundreds with the vanderbilt carriage on display in the lobby of sotheby's. we have 1912 stots bearcat. you up through the '20s and '30s. this is one off-that is the ultimate supercar. we want to do the history of automobile as art form. 300 roadster, mercedes, not only do they perform phenomenally, they were a piece of sculpture when they came out in the '50s. adam: these cars, who are the people that i will will be bidding on these? >> right now we have 14 countries registered. and they're basically like world currency today you can put them in container, ship them anywhere in the world and be there 48 hours later. they're fascinating to drive. i have a 300 slr roadster
myself. i put 8,000 miles. i use it as daily driver. >> you're supposed to drive cars. you don't want this stuff to dry up. you should brag, $125 in sales at the monterey auction. >> record for single auction. adam: within that auction was a world record for cars sold at auction in the united states, 1967 ferrari spider. >> it was a great story. and you know there is only 10 that exist. the man we consigned it for was expecting 13 to 15. they actually gave all the money to charity. adam: ed smith. he was owner. >> eddie smith. we ended up having a great time. great to see his father bought that car new probably around $12,000 in 1967 and brought $27.5 million. adam: bring the budget. you're selling million dollar vehicles. a lot of people watching may be people like me. i spend 10 grand on the side. what are cars i should look at? some people say it is on
investment. peter mull en, said don't buy it as investment, buy because you love it. if you want to do as investment for people? >> mgas, triumph. tr-6. i used to go to lay land's in london about an hour away. picture of my head would be stuck in the window and dream of having a tr-6. those are 20, 25,000. you can drive these cars every day. you did in the '70s, right? they don't have some of the luxuries that the cars do today but there is less to break. adam: less to break. i think someone once told me carburetor is french for, don't touch it, leave it alone. >> right. adam: the auction is the 21st. >> correct. adam: this is the first-of-its-kind in 10 years. do you think you will be setting any records? >> yeah, i do. not only setting records, i think we set a new precedent. the automobiles art, the photography we've done, catalog we produced. beautiful presentation at sotheby's in the gallery. even the chairman of sotheby's
has said you have really done this, it is over the top. the decco pieces we've tied into the automobiles. the symposium we're doing this evening. so i think, that itself is a record. my suspicion is we'll break a few world records. adam: maybe another ferrari will get a record there. thank you so much for joining us, rob myers. if you love the cars, tune into fox business this thanksgiving. we'll air our best of pebble beach special. it is pebble beach, best of show. where you can see more beautiful classic cars like those up for auction at sotheby's. you restored them. lori: that was likes car porn. >> car porn. you don't get in trouble for it. >> all safe for work. turning to other wheels it looks like tesla has some new competition on the roadways. we'll look at the new electric cadillac. adam: say cheese or maybe just down right cheesy. the selfie getting stamp of approval from an unlikely source. we have details for you just
ahead. ♪ [ male announcer ] what if a small company became big business overnight? ♪ like, really big... then expanded? ♪ or their new product tanked? ♪ or not? what if they embrace new technology instead? ♪ imagine a company's future with the future of trading. company profile. a research tool on thinkorswim. from td ameritrade. a research tool on thinkorswim. [announcer] ...every wish for a bed that could feel perfect under every part of your body... [man]ask me about our tempur-pedic. [announcer] they're sleeping on the newest tempur-pedic bed... the new tempur choice... [man]two remotes. [announcer] firmness settings for the head,legs,and back... these real owners get that famous tempur-pedic comfort how they like it. [woman]ask me about the lumbar button. [man]lumbar button
[woman]lumbar [announcer] tempur-pedic.the most highly recommended bed in america. now the fun begins! >> i'm jo ling kent with your fox business brief. united airlines plans to cut annual costs by $2 billion by adding more fuel efficient aircraft and increasing employee productivity. the airline expects to add $700 million in revenue with
fare add-ons like preferred seat assignments. johnson & johnson will pay at least $2.5 billion to settle a lawsuit over defective hip implants. j&j will pay 250,000 for each surgery to replace hips in 8,000 patients. a federal judge approve the settlement. global drug spending will top one trillion dollars next year. spending on pharmaceuticals will increase 3 to 6% annually over the next five years. last year global drug spending was $965 billion. that is the latest from the fox business network, giving you the power to prosper.
washing them. >> tomorrow, tomorrow, tomorrow, creeps in. it's today, i think, i don't know. >> you're still talking about miss germany. >> miss germany. you had to bring up miss germany. >> all roads lead to miss germany. >> you see how good-looking she was? lori: you said she was not as cute as me. >> back to jpmorgan. >> is this "the view" or something? fox and friends. >> jpmorgan chase. >> today it should be done, today i'm getting inside the bank. the reason why you know this is imminent, meaning it will happen any hour now, i don't mean any second, because every flak at the bank right now is tied up on this. here's the key thing i've been saying this. it is more than the money. more than how much homeowner relief. there will be a relief part about this. they will let, i guess people who are delinquent on their loans stay more delinquent and give them forbearances,
something along those lines. we'll see what the exact language is and a chunk of change paid too, money. it will equal $9 billion. take that aside that is factored into the stocks price. the concession of guilt what jpmorgan says it did wrong not just from washington mutual, not just from bear stearns. but remember part of this has always been an investigation into jpmorgan's own practices. how much of that is this related to its own practices its concession is key because that's where the rubber meets the road in terms of litigation and how much shareholders lawsuits they face. adam: can i ask you a question about the madoff exposure? does this protect them from potential criminal charges because there is case being made on civil case, that people at bank knew it was a ponzi scheme. that they for 20 years essentially allowed check kiting. >> that is different issue. adam: this doesn't absolve that? >> that is different from the
internal controls figuring out about madoff and people internally knowing about made i don't have -- madoff, not stepping up to the plate. jpmorgan shareholder this is another thing you have to deal with. this is mortgage practices in the run-up to the financial crisis. adam: okay. >> what is interesting about this deal. it will cover more than just bear and washington mutual. that will be a lot but the part about jpmorgan is the part i think the shareholders can zero in on because if its own practices were sleazy, and i think they will come out with some concession, see exactly what that concession is, i don't think they will say we committed outright fraud in this. i've been told by people in the bank, this is something quote, unquote, we can live w we'll see what it says. lori: surprise if it is beyond 13 billion? >> no, think it is this statement, this concession. it becomes, it will be portrayed as a washington story. i hope every producer here realize this is is not a washington story anymore after this. this is shareholder story.
shareholders will care what is in the language here f we're being good business journalists we should pick this apart and try to move it forward. what is the potential for civil litigation with this statement? and i think the statement will, there will be a statement about bear probably. there will be a statement about wamu, washington mutual, what it did wrong there. those are things that jpmorgan inherited but there will be a state that covers its own internal potential -- adam: will they set aside, need to set aside 28 billion? will they need more than that to defend against civil suits? >> i think it is 23. depending on that number the sky's the him. you don't know. that is the the problem. we have to see exactly what it says. that is a guessing game. private litigants are probably -- adam: lining up. >> this i will will be the story going forward. well there is a couple stories going forward i think. one is this it for jpmorgan? i think this is a big chunk of it. they have got the china probe.
most people are rolled their eyes they hired a couple connected people in china. it is potential litigation and it is potential regulatory issues. they have got some other stuff in the goldmarkket but this is a big chunk of change. then you have to ask yourself about private litigation and that is a big thing. everybody is going to look at it. the other endgame us did the justice department keep hammering these banks and using settlements to break them up? i can tell you that is a concern at jpmorgan. they don't, with whether the justice department and regulators are using all this stuff to basically tell, break up. lori: charlie, thanks. >> i will tell miss germany -- adam: thank you, charlie. see you later. lori: update on the market down 13 points. mark newton on the floor of the new york stock exchange. mark, obviously yesterday we hit the milestone of 16,000 on the dow, that is a psychological level but is it interesting to you or telling you that we're steering quite clear of that milestone today?
>> second time we tried to push above 16,000 and we're selling off. indices rallied 27 out of the last 28 trading days. we're geting a lot on at love measures. interesting starting to see transports role over a little bit. transports at four-day lows. vix trading higher than the six or last seven trading days. lori: that is telling, that is forward indicator the transports? >> you're absolutely right. dow jones transports gained about 800 points since october 7th. that is 12 1/2%. that is much bigger than the market at all. we heard signs of bubbles. now carl icahn yesterday and baron's cover over the weekened and "wall street journal." interesting from a contrarian standpoint when you hear all the people talk about bubbles, rarely are they successful catching the exact top. but the market is quite overdone as we talk about. lori: mark, you're the first guy on the floor actually gone along with the theory of the bubble, everybody points out the market
is properly valued in historical perspective. this isn't a bubble and let's keep going from here and there is room to move up. >> we're in seasonally bullish time and market is up -- lori: talking over each other. sorry about that. mark newton. thank you, sir. >> my pleasure. adam: something you can see people doing with their cell phones every day, not talking. doing what oxford dictionaries named the word of 2013, takeing a selfie. made popular by celebrities like just tin bieber. oxford's definition of the word is, this is a quote, a photograph that one has taken of one's self, typically with a smartphone or webcam and up loaded to a social media website. in order to qualify a word does not need to be coined within the past 12 months but need to become prominent or notable in that period. other words in contention were twerking and binge watch. i haven't heard of binge watch? lori: oh, people -- binge watch.
>> people from vrc watching entire series. adam: didn't we call that being a couch potato without a life? lori: exactly. i don't get the whole selfie thing. have you seen a flattering selfie? adam: no. >> look out tesla, the electric cadillac. jeff flock on the pacific coast highway taking you on a test drive. ♪
california, with more an all of this. show us, jeff. >> could be perfect timing, adam as we pass by santa monica pier here on ocean avenue for folks that know santa monica. this is the electric cadillac. a lot like the volt, built on the same platform. we took a test drive with gm's chief engineer for electrifying vehicles, pam fletcher. she said, i will show you this car. we're rolling down the pch here at 74 miles an hour. this has got a great feel. sell me on this car, pam. why should i buy a cadillac elr at 74 plus thousand dollars? >> look around the interior. finest hand cut and sown leather and hand wrapped leather here on instrument leather and the doors. feet, ko in. a leather seats.
natural wood. real carbon fiber. it goes on and on. a luxury experience. i saw all encased by this beautiful swayeded headliner. wee feel like we're in a cocoon. >> yeah. >> take the luxury experience and electric driving experience with the smooth, quiet acceleration and instantaneous torque when you press the accelerator. combine that with the motion of -- notion of this is a electric car with no compromises. >> will people buy it though? the volt has been slow to catch on. we'll see with the elr. in showrooms, adam, in january. adam: jeff flock, thank you very much. >> all right. will obamacare be the grinch that stole christmas? why walmart is very concerned that the health insurance mess will cut into its bottom line. want to get your view as well, so tweet us. tracy byrnes and ashley webster up next here on fox business.
tracy: good afternoon, i'm tracy byrnes. ashley: i'm ashley webster. chasing chase. jpmorgan chase and ceo jamie dimon apparently about to forgo a $13 billion. it would be the largest settlement ever to the justice department. we look at the banking giant's future straight ahead. tracy: and will obamacare be the grinch that stole christmas? we'll tell you why walmart is really concerned that the health insurance mess will cut into its bottom line. we want to get your view as well. so tweet us. >> google turning to giant snow globes, yes, you heard me right, snow globes complete with fake snow to sweeten its bottom line this holiday season. we'll forecast those results in tech minute. tracy: just bizarre. paging dr. robot. speaking of bizarre. in tomorrow's business today, a robot that allows doctors to beam themselves into hospitals. that and much more ahead on this
can't-miss hour of markets now. ashley: impressive. looks creepy but we'll get to that later. let's get to nicole petallides on floor of the new york stock exchange. nicole. >> i never heard of doctors beaming themselves into hospitals. that is something new. i look forward to that story. let's take a look. dow jones industrials down 13 points. 15,963 is the level we're sitting at for the dow. the s&p 500 is also lower. all major averages do have down arrows after some recent record highs we're seeing. all three are actually down for the week yesterday and today. that is the vix, the fear index to the upside. you have names that are winners including home depot for example, which came out with better sales and certainly saw better volumes for the people that have been there, the customer traffic. so that is some good news there. some other names that have been under pressure, banking index, retail index. as i peeked up at the board the drug index turned into the red as well. back to you. >> nicole, see you in a bit.
breaking news to you. coming up in 15 minutes looks like we'll get the announcement that jpmorgan chase agreed to a $13 billion settlement with the justice department. this all first reported by our very own charlie gas who is standing -- charlie gasparino who is standing by. is this deal enough to push the bank from the dark legal cloud it has been under? we have a analyst from guggenheim securities. marti, the department of justice basically got jpmorgan to fest up to bungling bad mortgages. that could not be good for the stock going forward. >> depend how you couch that. some is with the environment and originated and pressure the housing market came under after the fact. we'll have to see how they parse that out between up front operational issues and what happened after we saw the crash in the housing market. ashley: you know, marti, not only, obviously this is the
biggie as far as settlements go. jpmorgan has the justice department looking into recruiting practices in asia. may not be a big deal but continues questions about the company. relationship with ponzi-schemer bernie madoff, the list goes on. why should an investor think about putting money in this stock? >> when looking at jpmorgan the overhang issue related to all of the things you've talked about but the biggest piece is the mortgage-related settlements we're about to see finalized hopefully here today. once that's removed, the bank trades currently at about 40% premium to tangible book value, when it should be trading at 60% premium. that gives it about 20% upside from where we trade today. that difference of fundamentals versus the overhang is just related to them resolving some of these issues. so as soon as they clean the deck, the fundamentals warrant a much higher stock price which the shareholder should enjoy at that point. tracy: so one could argue
whether they are agreeing to this and they're fessing up to something that they don't necessarily believe they did, just settling in this thing at this point, is good for the company and the stock and since, investors are very myopic and very short term, the stock price will recover? >> well, really we're looking at three things that are favorable versus one that's unfavorable. three things are favorable. one is earnings volatility is now limited. so, you're not going to see the unusual events and settlements coming through quarterly earnings. that will allow the dividend next year to show some support because you don't have to factor in the losses. we see they could see a nice 10:00% increase in the dividend. management number two focusing on being able to run the company. executive management is not distracted. looking at business development. getting back to business as usual. investors postively looking at the fundamentals and the strength of the company's businesses is generating versus overhang issues.
the only negative is share repurchase. when you look at the settlement amount that we're accumulating we think you might see pullback in next year's request for repurchases as we go into 2014. >> also brings up, questions, marty, will a financial institution ever be force to take on another struggling financial institution if the government puts the gun to the head of jpmorgan and others for that matter during the height of a financial crisis? i can imagine that would change the outlook for these so-called too big to fail banks? >> it has done two things. it changed the willingness of the banks to absorb these troubled institutions. you're definitely right. that has changed and perspective as they get into the next financial crisis or downturn will be much more conservative and less willing to step up to take on the problems. but what you can do, you can really limit the liability. so you could have cleanly made the transition of these assets,
to the new company without burdening it with the past liabilities and practices. so there is some way that is you can legally structure a deal which would take away some of this overhang that we've seen this time. tracy: marty most bi, thanks for sharing your thoughts. guggenheim analyst. he has a buy rating right now. we have a stock alert for you. shares of best buy are deep in the red as the retailer offered a third quarter profit came in above expectations and same-store sales that rose for the first time in 13 quarters but unfortunately it was not all good news. best buy signaling intense promotion this is holiday season unfortunately will eat into earnings. ashley: from best buy to the king. it is one for the money, two for the show. the intellectual property rights to elvis presley's image sold to authentic brands group by core media. the purchase giving the company the rights to elvis's image, name, likeness in addition to the massive collection of photos
and movies and television appearances, music specials all of those featuring the king. the purchase price though, not disclosed. thank you very much. three fires in five weeks has the government investigating what tesla calls the safest car in america. wall street's reaction next. tracy: investors are being asked to drop mo money on dropbox. i actually love dropbox. ahead in tech minute, is the cloud storage firm really worth $8 billion? ashley: maybe more. up next the chinese cyber threat. liz claman has an exclusive interview with a man shining a spotlight on it. mandy ant ceo. we'll be right back. hi honey, did you get e toaster cozy?
yep. got all the cozies. [ grandma ] with n fedex one rate, i could ll a box and ship it r one flat rate. so i kn untilt was full. you'd be crazy not to. is tt nana? [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex. you know how painful heartburn can be. for fast, long lasting relief, use doctorecommended gaviscon®. only gaviscon® forms a protective barrier that helps block stomach acid from splashing up- relieving the pain quickly. try fast, long lasting gaviscon®.
ashley: time to make some money. why not? with the market under pressure let's talk about key support levels. what levels are you looking at, charles? >> we always talk about buying the dip. at least that is what everyone talks about. doing it is a different thing. when we start dipping we get even more afraid. i'm looking at key numbers that should hold or have to hold. if they do, we've got them on
the screen. for the s&p, 1750. for dow, 1675. nasdaq. and doesn't mean you hit the levels they go to accumulate. which make a stand there and start to turn, that is when you have a list of names you really names that have done extraordinarily well, for whatever reason, fundamentally. those are some that could be a point where you begin to pull the trigger. tracy: if you're an average investor, i mean do you care? not to diminish all the hard work you did because you know you did. >> it's not that. just that you know -- tracy: dollar-cost averaging right in. ashley: yeah. >> people have limited money and people are still very afraid. i heard people describe this market and in the financial media as giddy because it is hitting record highs. it is anything but giddy. the average investor in the market is still extraordinarily afraid. if they did everything right we would never have to worry about it if they did buy all the time.
my experience with dealing individual investors on day-to-day basis they kind of take shots. when they get these turns like this kind of a turn, they might be sellers at some of the key technical support points rather than buyers or at the very least hanging in there. also they're, also they're moving pretty quickly, you know, a lot faster than they used to. they're not just buying and looking, but if going up they're celebrating and if it is going down, they're not proactive i guess. ashley: are they selling stocks or is this very much buy and sell if there is movement in the stock? >> i find a lot of them don't know what they're doing particularly with high beta stock. one tweet, solarcity, made 44% this three months. i came on the show with one of the hits, let's take profits because don't want to hold into earnings. ashley: yeah. >> same thing with 3:00 d.o.e. took profits on -- 3:00 d.o.e. they are still in. everyone loves when a stock went
up 5% at a time or 10% at a time. ashley: by nature they're tough stocks. >> that's right. gets back to tracy's point. you can play it three ways, believe the company and don't look at it. maybe four times a year when the earnings reports go up out or if you're myopic have something like this. tracy: charles's work is not for naught. ashley: of course, never. thank you, charles. >> great to see you. >> quarter past. we have to get a check on these markets. we're down about 20 points on the dow right now. nicole petallides on the floor of the new york stock exchange. hey, nicole. >> hey, tracy and ashley, we're seeing the dow jones industrials down 20 points as you noted. we're hovering around dow 16,000. not unusual to see a little bit of a pull back after all the records we're seeing. look at tesla, a name that was a real high-flyer. it was approaching $200 a share at its highest point this is tough month for tesla. you've had three fires in six
weeks. you have nhtsa, highway authorities basically looking into the tesla model s. meantime elon musk has been very open and saying look, why so much media on three fires when you have hundreds of thousands of fires pertaining to gas cars and where there has been people hurt as well versus no people hurt in these instances? meantime you did see the stock bouncing back a little bit, as i noted november has been down 20%. so a little room to the upside. tracy: thank you, nicole. we'll check back in 15 minutes. ashley: news broke friday that the cme, the world's largest futures platform which clears billions of trades a year, had fallen victim to a cyber intrusion of its swaps clearing platform. with a federal investigation now underway, liz claman is live at the cme global financial leadership conference with the man known in the hacking world as mr. solve it, mr. fix-it. liz. >> he is kevin manned diao, of mandy ant.
this they pinpoint hacking locations and pinpoint it. thank you for being with us couple days after the cme announced it had a cyber intrusion which is fancy word for hacking. >> pretty much. sigher about intrusion, security breach, hacking. somebody got into your defenses and got into your network. >> this is happening too much, isn't it? >> happens a lot daily bases for many companies. 90% of the fortune 500 it is estimated have been compromized. state of cyber security today we're getting sucker-punched. we can't quite secure everything all the time. there are places where you can hack your corporations with impunity with no risk or repercussions. >> homeland security, word healthcare.gov got hacked. all sorts of electronic knocking on windows and doors almost like
the velociraptor in "jurassic park" testing electric fences. who is this, kevin? we know back during the day recently "the wall street journal" an "new york times" were hacked it was your company that actually pinpointed the source of this. we had this google map. the source of it to a government-owned building somewhere in china. how did you do that? >> well, how we did that specifically is first, technical evidence led us to shanghai to a specific unit in the chinese military that was hacking u.s. companies and really western nation companies. because requirements to work in that military unit was you spoke english and could do what is called computer network operations. after seven years responding to these folks, it wasn't hard with the technical evidence and an neck he dote tall evidence watching what they did to pinpoint the building where and threat actors but who is doing all the intrusions. quite frankly if you look at any conflict, whether it be idealogical or a threat of armed
conflict there will be a cyber component in the future to all this conflict. if you're a western nation and idealogical differences with groups disagree what we're doing in the west you will see cyber conflict. you will see attacks permeate not just enterprises but go into the private sector. tracy: we have pieces of video of fences and things like that outside of nuclear plants and the grid, electric grid, the nation. i look at this, i say, this is what they're going to go for. whether the chinese and now indonesians. apparently a lot is generated in indonesia. what is going on there? >> i'm not familiar with indonesia. i can tell you if hack from overseas there is lot less risk and repercussions to it. if you think about it, if you have a safe who are bore you can hack with impunity and only have to be right once. when you look at cyberdefenses the people in charge of our networks need to defend 400,000 employees, 500,000 employees, thousands of systems but our folks hacking need only to get into one. it is asymmetrical battlefield.
>> we have lot of business owners right now. >> sure. >> they're wondering where am i vulnerable at this point? is it human? is it mechanical? >> it is absolutely human. you can't patch the human. what we have in my 20 years responding to security breaches. the attacks used to target systems. now they target people. you have your own employees unwittingly compromise networks. >> smartphones, laptops, tablets? >> mostly guys get email with attachment to it. by opening that attachment and viewing it you're compromising your machine and network you're on. >> what do you think happened with the cme? clearly you looked from a surface standpoint. they have discovered in july there was some type of hacking incident or intrusion to some of their electronic platforms. i mean i worry that a market could be really compromised at some point? >> well i can't speak to what happened at cme but i can tell you in general the financial sector, the energy sector, all the critical infrastructure is targeted on a daily bases.
they have to do a constant security posture. >> the infrastructure of every company, what is the number one thing people should have to make sure it can not be pierced? >> the number one thing, right now if you're an executive, i would recommend open up your emails on some tablet, ipad, or android tablet because more secure to do that right now. >> your business has got to be big, right? it has got to be growing at this point? >> i think it is important thing to respond to security breaches. figure out who is doing it, why are they doing it. >> solved the situation for "wall street journal", "new york times." he has a lot of other clients he is working on. that is a pretty stunning statistics just about almost every fortune 500 company has been compromised. kevin thank you. >> thank you. >> from mandiant. we have the first interview with cme executive chairman terry duffy since the news broke that the cme was compromised as far as this hacking incident was concerned. we'll ask him what is the latest on this. we also have mike milkin of the
milkin institute. guess what, you guys? he will pinpoint the number one thing that the government needs to get out of. it will surprise you. this from a very big capitalist. all that coming up in next hour. live from the cme, global financial leadership conference in naples, florida. wish you were here. 85 degrees. ashley: how lovely, liz. very interesting. love the reference to the velociraptor from "jurassic park" testing the electric wire. good analogy. as we head to break, we're waiting, aren't we, the supposed agreement between jpmorgan and justice department, $13 billion. we may be hearing, may be hearing from new york attorney general airing rick schneiderman. tracy: department of justice. ashley: we'll see whether that comes about. so stick around. we'll be right back. [ male announce] imagine this te blob is metamucil.
and this park is the inside of your body. see the special psyllium fiber in metamucil actually gels. and that gelling helps to lower se cholesterol. metamucil. 3 amazing benefits in 1 super fiber. 3 amazing benefits but with less energy, moodiness, and a low sex drive,y first. i saw my doctor. a blood test showed it was low testosterone, not age. we talked about axiron. the only underarm low t treatment that can restore t levels to rmal in about 2 weeks in most men. axiron is not for use in women or anyone younger than8 or men with prostate or breast caer.
and children should avoido are contact where axiron is applied as unexpected signs of puber in children 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 medication serious side effects could include increased risk decreased sperm count; ankle, feet or body swelling; enlarged or painful breasts; problems breathing while eeping; and blood clots in the legs. common side effects include skin redss or irritation where applied, increased red blood cell count, headache, diarrhea, vomiting and increase in psa. ask your doctor about axiron.
tracy: breaking news right now. we're waiting for new york attorney general eric schneiderman's comments on the department of justice deal with scrape. joined by charlie gasparino for his comments what might happen. >> i think the department of justice. ashley: eric holder. new york attorney general, he is part of the government's
mortgage fraud task force. i think he is the chairman or whatever of that, leader of that task force but still it does show you level of politicization hire. eric schneiderman is one of the most political attorney generals in the country. this guy is going after wall street. he filed a suit against jpmorgan purely on the bad stuff that occurred at bear stearns which jpmorgan took over. so if he will go after jpmorgan just on the bear stearns stuff which jpmorgan inherited. it was told by the federal government to buy it during the dark days of the financial crisis in 2008. this is very politicized public official. his statements will be pretty interesting. chalk it up to at love drama. ashley: what are we waiting for, charlie? are they trying to get all the language right? >> here is what i think we're waiting for. we're waiting for the big thing. this is investor story now. i know the hacks are going to, you know, like schneiderman will go out there and pound the table
on this. eric holder will do whatever he does. he will put a statement. jpmorgan will put out a statement and probably talk to analysts about this thing. the big thing to look for is concessions. what did jpmorgan, agree to say it did wrong. essentially three parts to this thing, based on what i know, talking to people inside jpmorgan. there is stuff involving bear stearns, which it inherited. during the financial crisis bought bear stearns on behalf of hank paulson, then treasury secretary. and washington mutual it largely took over in the financial crisis in fdic receivership right now. there is stuff involving that. again it inherited that stuff. then there is the stuff it did on its own. jpmorgan is a bank. they gave mortgages out. they did a few. they weren't a big player in this business but they did some, some portions, some, i don't know how to describe it. , they were involved in this packaging and selling of
mortgage that is were put in mortgage-backed securities and maybe even packaging of those things. but it wasn't so big in that business but clearly issued mortgages that were not very good and put in bonds, those bonds, those deals, that, there will be a concession about what it did by itself. ashley: is there blood on the hand, as you would say? >> there will be some blood on the hands and we'll get to see how much. look at their concession what they did, that is the key. if they see something fairly significant, they're going to be lawsuits. tracy: that could hurt the stock. >> that could hurt the stock. that is why this becomes an investor story. what is the stock trading at now? can we flash it up there? ashley: you know what? it gain the 28% this year, charlie, despite all this. >> and despite all this and it is up marginally today. investors are saying it is getting its act together and stuff behind it. that is all well and good. i spoke to some jpmorgan people loose week. we've been reporting this thing is done for two weeks now.
>> right. >> i've been telling people. the big concession they gave up was a whole notion of can they go back to the fdic receivership, wamu, the carcass of wamu and become a creditor and say listen we would like money back out of that because we got dinged by the justice department for inheriting that. we would like to be a creditor. they're afreeing not to do that we've known that. fox business was the first to report that, i believe it was early last week or friday of the week before but we were first to report that. and we were the first to report that the deal was essentially done. it needed to be rolled out by doj waiting for right time to do it, i believe from a pr standpoint. but this whole thing about the language of what they agreed did wrong -- ashley: that is the key. >> that is the key. i don't know if the investors or market knows it. it doesn't care right now. maybe it figure it is can deal wit and all that litigation but if i'm an investor i looking at that language very closely. ashley: we shall see. >> charlie gasparino will be here if we get anymore news. >> okay. ashley: thanks, charlie.
>> so will obamacare be the grinch that stole christmas? we're going to tell you why walmart is really concerned that the health insurance mess will cut to the bottom line. we want to hear what you think about that. so tweet us what you think. ashley: paging dr. robot, dr. robot. in tomorrow's business today, a robot that allows doctors, well, yeah, beam themselves into hospitals. we'll have that and so much more ahead on this can not miss hour of "markets now." tdd# 1-800-345-2550 searching for trade ideas that spark youruriosity
tdd# 1-800-345-2550 can take you in many directions. tdd# 1-800-345-2550 you read this. watch that. tdd# 1-800-345-2550 yolook for what's next. tdd# 1-800-345-2550 atchwab, we can help turn inspiration into action tdd# 1-800-345-2550 boost your trading iq with t help of d# 1-800-345-2550 our live online workshops tdd# 1-800-345-2550 like identifying market trends. tdd# 1-800-345-2550 now, earn 300 commission-free online tras.
call 1-888-628-7118 or go to schwab.com/trading to learn how. tdd#-800-345-2550 sharpen your instincts with market insight from schwab tdd# 1-800-345-2550 experts like liz ann sonders and randy frederick. tdd# 1-800-345-2550 get support and ta through your ideas with our tdd#-800-345-2550 trading spialists. tdd# 1-8-345-2550 all with no trade minimum. and only $8.95 a trade. tdd# 1-800-345-2550 open an account anrn 300 commission-free online trades. call 1-888-628-711to learn more. so you can take charge of your tradg. ashley: 90 minutes before the close. now more red and green but split down the middle ironically if we wait for j.p. morgan's case with the official settlement between
the company and the justice department you can see j.p. morgan is on the upside but considering everything else that is going on. >> the airlines have done so well but taking the look at united hitting a new high today the stock is 3.5% and saying the cost will fall by $2 billion every year that it may continue have a dividend by 2015 so we have been under pressure because the other airlines plan to return $1 billion but united has multiple stories using the boeing 78 feet -- 77 dreamliner looking at the faster boarding and better food. ashley: it is all about
better food don't think it got hot chips on every flight? the big question is will obama is still christmas? wal-mart ceo bill seidman told il cavuto he is very concerned. >> anytime derek is any uncertainty in the economy it dampens discretionary spending and the affordable care act is just an example of uncertainty. >> joining us now investigating the concerns of other retailers people don't worry about the extra insurance costs and it will hinder sales spec absolutely to get the full fare will get retail projections. gallup cannot with a pulled the average american did plan to use scaled-back and will spell $704 on average
so there is $786 last year and tracking foot traffic across the country that sales will cause the increase 2.4% compared to 3% last year. before wal-mart came out things were not looking great. tracey: that could be the uncertainty with taxes, a government shutdown, there is a cloud. >> when consumers our uncertain not feeling confident the analyst said they are not as apt to go out in shop the individual mandates he kicks in next year you have to have insurance or pay the $95 penalty per person per year and the department of human services $320 per person per month.
tracey: if you were thrown off now trying to figure how to get back on you are really an a cloud of worry. >> the government shutdown payroll tax extension shut down and another huge cost there is so many unanswered questions people may want to hang on to that extra catch long dash cache. tracey: this is not just wal-mart? >> know it is across the retail industry. tracey: it is like the grinch that stole christmas. dealers anticipate the could pick up or is this the new normal? i am holding on because i am nervous? >> the health care industry is in flux the impact is on going to sew on intel is cleared up to when you have been following the health care industry with young
people they don't spend they don't know what to do then it just goes up the rink. >> younger people have a harder time to get a job and live with their parents it is across the board. tracey: kate rogers hopefully there are presents under the tree. ashley: on line storage service drop box will raise $250 million with another round of funding could value the company and a billion dollars doubling the estimates from 2011 drop box faces stiff competition from google's and amazon it expects sales of two moderate million from the 4 million businesses also worth noting back in 2011 drop box or two to $50 billion of financing from goldman sacks and other venture capital firms.
sales force.com sales in the red the computing company did manage to narrow the loss as revenue grew at the 2.5 billion dollar acquisition fee down from 20.3,000,001 year ago. announcing a partnership with hewlett-packard to develop that cloud product ubs and credit sui's have raised their price target. google opening snowblower about let's it is kind of call a winter wonderland to compete with apple this holiday season. it will open indications by washington d.c. and sacramento in addition to buy the tablets and chroma the book also an action they
could take home with them. tracey: fake snow? ashley: it is cool video we are talking about it. tracey: paging dr. roberts. he must be the body. in tomorrows business today a robot named robert that allows the doctors in the hospital. [laughter] ashley: watch out to big bird. [laughter] there i go. there is the shortage of big fresh birds. tracey: look at the treasury as a head to break. the dow is up 1..
august recall from the 2005 through 2011 crown victoria and lincoln town car will be checked by ford dealers. obama announcing a $1 billion competition to prepare students for jobs printing million dollars to secondary schools to participate in the program. this is the latest from fox business, giving you the power to prosper
fda approved presence robots here to tell us about it is the ceo of in touch health. think you for joining us. before we get into how this works, a when i hear the word remote robot with health care i were you don't get the face to face of what the patient may really need. >> 80 for having me on the show. i think the reason i got into this business having the health care background the challenges to provide high-quality care consistently to everybody at a lower cost is one of the biggest problem the country faces and being able to use the robot as a physician extenders so the right expertise at the right place at the right time to do the right thing and does it improves quality at a
lower-cost. ashley: we are rolling the of videos but they are about 5 feet tall with a large screen to protect the doctors face also speakers that allow doctors and patients to interact and talk to each other how can you do a diagnosis on that basis? >> what is important with the doctor between carriers and brain, experience and analyze a situation. the have to interact with the family and the local staff so the whole idea is to bring that presents by the patients bedside and that environment in to the physician said he or she can make the right diagnosis how to treat the patient said whether delivering a drug
for going into surgery could be done by people who have hands thereby relieve the intelligence of the specialist that is needed. ashley: who are your customers and how popular is this proving to be? >> we are approaching 1,000 hospitals across the united states. the key area of application is stroke care, critical care i see you site, trauma psychological read these patients come into their doors that they cannot get there quickly and that happens all over the country and all over the world. ashley: you also read to them out five don't -- $5,000 per month how does the affordable care act
affect your business? >> i will use the term loosely as health care reform in general has been helpful because the country has reached a critical mass where people say categorically we have to solve this problem of higher quality care for everybody at a lower cost. that is what is on everybody's mind share so this type of solution with remote presence telemedicine has come to the foreground of this is a solution of how to do that. ashley: faceting. -- fascinating. thank you for joining us. we appreciate it. robot -- robert the robot. [laughter] tracey: now heading down to
new york stock exchange exchange, mark, we have a lot going on today after hitting a bunch of milestones. that does not bother you? >> it does but for the time being a the market's trend we have been up we tried a couple times to get over 60,000 and that failed but it has gone back at an unchanged it is tough to make too much and tell the sec gets down below 1746 but until then we will trend positive then stalled out with bernanke some comments to see if he could hear what was earlier that will be big tomorrow. ashley: hollywood on track with the box office with the latest crop of new releases.
$13 billion as part of a settlement jpmorgan acknowledges it would have material serious misrepresentations with the mortgage-backed bonds also j.p. morgan in acknowledging gregory misrepresenting mortgage loans could fly with underwriting guidelines this was the key is exactly what j.p. morgan wooded mitt to doing to include $2 billion also calls for the independent monitor to be required to oversee the disbursement of funds. $13 billion the largest settlement in u.s. history coming from new york
attorney general eric schneider and just to say it is saying it made serious material misrepresentations to the public and also misrepresented the mortgage loans of what they complied with the underwriting guidelines but the stock is still up slightly on the day. tracey: then with the uncertainty they will pay and need to be done. hollywood has a shot at a new record high we have denis and leo. >> box office year-to-date has 1% within reach of the record $10.8 billion set in 2012 only 1.$5 billion to go desperate begins on friday when the lions gate unveils a hundred games the first
one took $408 million but a tragic fire eclipse is that mark then did you start up of jennifer lawrence there is always -- the cockpit -- the hobbit. added disney's frozen also tailor made to the marketing machine with the toy tie-in and also for the kids killing kids in the honker games -- the hunger ganes. ashley: it generates a lot of money. tracey: coming up on countdown to the closing
bell liz is is in naples florida for the leadership conference all day she has been interviewing all the best for business route three will sit down with the president of the cme and ask him about backpacking probe and how safe he thinks exchanges like kids really are. the dow is flat and news from jpmorgan and a liz claiborne will cover that next. don't go anywhere. ♪ like, really big... then expanded? ♪ or their new product tanked? ♪ or not? what if they embrace new technology instead? ♪ imagine a company's future with the future of trading. company profile. a research tool on thinkorswim. from td ameritrade.
tideod she loves a lot of it's what you love about her. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms obph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure.
do not drink alcohol in excess with cialis. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, seek immediate medical help for an erection lasting more than 4 hours. if you have any sudden decrease or loss in hearing or vision, or iyou have any allergic reactions such as rash, hives, swelling of the lips, tongue or throat, or difficulty breathing or swallowing, stop taking cialis and get medical help right away. ask your doctor about cialis for daily use and a 30-tablet free trial. ♪ ♪ liz: good afternoon, everybody, i'm liz claman, it is the last hour of trading k and i am live in naples, florida, at the global financial leadership conference where we have everybody or who matters in the trading last form, the options -- platform, the option
when it comes to trading, it's the best and brightest news in finance. the on again, off again settlement between jpmorgan and the justice department is finally, finally a done deal. it turns out to be about a $13 billion settlement, and this is a number that our own charlie gasparino reported a couple of weeks ago. this, of course, stems from the bank's sale of what is now known to be risky, mortgage-backed securities before the financial crisis when they were, of course, rated aaa. and we know now, charlie gasparino, they were anything but pristine, but here we have the $13 billion settlement for jpmorgan, what does it mean? >> well, it means jpmorgan is out from under a rock a little better than the past. here's the bottom line, liz, we have to see exactly what the language is on this thing. they're paying 13 be billion, they've already paid 5 to fanny and freddie, some of it's cash, some of it's homeowner