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tv   After the Bell  FOX Business  November 21, 2013 4:00pm-5:01pm EST

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16,000. we're at 16,008 going into the closing bell. [closing bell ringing] david: we did it. liz: well the numbers still have to settle, keep that in mind. right now looks like history has been made, 16,009. david: where is the champagne? liz: got the applause, anyway. here we go. we have the s&p 500 also up, at 1795. russell go thousand, a nice move, up nearly 2%. david: wow! that is small and mid-size caps. folks who care about them as we do. of all the indices, twice what the dow is doing. more than that. front page headlines, this is the real front page headline the initial jobless claims fell to a two-month low last week. that is one. reasons the market did so well. the labor market could be strengthening. first time applications dropped to 323,000. economists were expecting a fall
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to 335,000. liz: in a 14-8 vote, janet yellen won approval from the senate banking committee to become the first female fed chief. a full vote is expected to come before current chief ben bernanke ends on january 201st. david: dupont will sell its glass lam minute nating an vinyls unit. according to the dupont the business accounted for $500 million in sales in 2012. the deal is expected to be completed early next year. liz: activist investor carl icahn reporting 12.63 stake in holo-fic ink and looking for for -- hologic, inc. they are up about 2% on the news. david: micron shares rallied after it was reported that green light capital's david einhorn was long the stock. einhorn made the comments in the robin hood investment conference in new york and reported via
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twitter. liz: the u.s. treasury is planning to sell its remaining 2.2% stake in general motors by the end of the year. the new timeline is faster than expected exit for the treasury and in large part die to gm's stock price which is up 30% so far this year. cashing in right here. "after the bell" starts right now. david: let's go right to it. we have gap earnings. adam shapiro what are the numbers? >> first on revenue it's a beat. street expecting 3.97 billion. street expecting 71 cents. investors like to hear this they are going to start a one billion dollar stock buyback. same-store sales are up 1%. headline will be this stock repurchase of $1 billion. back to you. david: it is very interesting that the stock, if anything is moving slower after this call. again a beat, usually indicates
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good news for the stock after-hours. again as we saw with green mountain things might change after-hours for the gap. again they're going to be looking at the company's inventory as well as a lot of other numbers. right now, liz, the numbers are not popping as one might expect. liz: on year-over-year basis, so people know, inventory dollars per store were up 4% at the end of the third quarter of fiscal year 2013. again what does it say as we bring in the team of cole wilcox, and chris gersh down in the pits of the cme. coal, i want to start with you, these stock buybacks are a little bit of financial engineering, are they not? i don't know if shareholders are not that dumb to them anymore. it is not an immediate pop. >> i think it depends on the company and whether or not you're buying back shares in something where the equity is worth something. you're doing it for accounting gimmick. i think there are lots of ideas out there where it makes a lot of sense. on the other hand it is just cfo
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doing accounting gimmicks to kind of juice earnings. liz: exactly. david: chris, let's look at market in general. we had dow 16,000. this is big news. we're edging ever so closely to s&p 1800. that is great news historically speaking but aren't traders a little wary of going to s&p 1800 right now? >> you hit it right on the head. a lot of traders are really apprehensive to put any money to work, really take that offer, any higher right now. as we can see from the futures pit, ticking down just slightly in this after-hours trading and you know, despite a good gap earnings play and believe me, i have two kids. two and one years old. a ton of gap clothes. i sold all of my retail third quarter. i think, it is pretty much as high as you can go right now. liz: that's what chris just said. sold all his retail in the third quarter because expecting what i guess we might have seen from target today, that is concern of a consumer.
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we've got to talk about the markets. we got a record close here, chris. 16,000 for the dow jones industrials. in the grand scheme of things some people say it is just a number. how do you see it? >> i think it is just a number. i think what we had was a lot of momentum what happened. actually we have the nikkei up almost 2% overnight. we had again, dollar, again gaining some strength. the yen weakening. that is just carried all the markets over. liz: stand by, we have pandora numbers. ticker symbol p. adam, how do they look? >> revenue's a beat, 180.4 million. street expecting 175.6 million. listener hours, total listener hours, liz, 4.11 billion, to slightly above what we saw previously. total active users, 70.9 illion. liz? david: that is exactly the same as it was in october, 70.9. that came down from the number
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in september which was 72.7. all listeners, remember that 70 million figure, that including most of those people overwhelmingly don't pay anything for the company. all they get money out of there is advertising clicks. sub description fees are the ones they're looking at. after-hours, as you can see pandora is moving down on this news. one has to remember there is a critical problem, liz. that is apple has their own version of pandora. pandora has over a million songs, that sound like a lot, apple's catalog is 26 million. if that wasn't bad enough, apple's fee, subscription fees are $25 a year. pandora's $36 a year. pandora has a tough road to hoe with competition with apple. liz: apple has not been able to capitalize. there is little bit of an exit on certain aspects of business they got into. people are still, chris, standing by pandora. there is something to be said first in wins.
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pandora was first internet radio service, they have to getaway of motive competitive service. >> i argued with a trader on our desk, pandora three-year outlook is great. i said you have to sell on these earnings. he was holding them, going into the close. trying to find out how it would be. i guaranty this hit is a stop. tough sell pandora based on sheer amount of competition but not only apple and spotify. you have the new apps coming out allow to you aggregate anything you hear on the radio instantly and will play on to your playlists. several players are out here. i think pandora overpriced. high beta stocks had a big top, linkedin, stubhub, yelp. you will sell those tomorrow. david: getting back to the rivalry between pandora and apple, i want to go to cole on this, sometimes you can buy both sides of arrive val. sometimes the market is big enough to two two players in it.
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to that point you specifically recommend both microsoft and google, two rivals of the top order. they're going at each other with everything they have right now. you say buy them both. why? >> yeah. i mean they're rivals in one hand, people look at it, reality many parts of the core business they're not rivals. microsoft has embedded incumbent player in enterprise business. they're very powerful in large business and effectively the plumbing that runs global business. they haven't been effective to date on the consumer side or search or other kind of things of that nature. both are big businesses but here to stay. i don't really see them as being competitors as much as the rest of the world does. david: they see themselves as competitive because they're going at each other tooth and nail right now in the ads. >> you know, in some areas but in the core business of what they do, so you know, search and advertising, relative to enterprise level software, you know, those are not the same businesses and it's a little bit more, you know, rhetoric that
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they're competing, than it is fundamentals of what the two companies generate the bulk of their earnings from. liz: chris, we have to talk a little bit about oil. we've been running a banner that says oil jumped on strong demand but we had jeff grossman from the nymex earlier say, no, it wasn't that. it was fact that the some oil production fell off-line due to a glitch or something. what is going on with oil? suddenly went from $92 and change to 95 and above? >> there was rumors of the glitch on the commodities side overall. you saw natural gas pop. you saw a lot of energy stocks pop. and they're all flowing together. they had been depressed. they're butting up against, making, key resistance level. anytime, all these commodity traders on the floor will tell you, once you hit a certain support level, you know, i think crude was hitting at about the 8th or 9th time, you will get a large rally to the upside. i think that this was a one-day pop.
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i think you have a little selloff tomorrow. be careful going long oil here. david: cole, talk about the fed or a second. ww had janet yellen, the senate finance committee at least confirming here. her that might be one reason we had a pop up. even if she is accommodative as. bernard: bernard: there is a push for tapering. you say the heck with it. still go with the market. damn the tapering. full speed ahead on stocks. why wouldn't tapering hurt this stock rally? >> tapering will really be something affect long you are duration side of the curve. tapering is not, i don't they. sort of carry trade for borrow money for fee. don't fight the fed and trend in bull market. you have both of those things going on. david: so a taper would not stop the rally, right, correct? >> no. david: terrific stuff, gentlemen. cole wilcox, chris gersch. we'll come back to chris shortly for the s&p futures close.
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we'll see how tomorrow works. liz: i love chris, i got into a fight with a trader. they're always battling it out. welcoming news for tesla today. if you own the stock it will make you very happy. we'll tell you exactly why. david: why janet yellen's nomination made it through the senate finance committee even some democrats are now turning against her. wait until you hear who. does ron paul see momentum change against the fed's policies? we'll be asking the man himself, ron paul, on the fed. you don't want to miss the doctor coming right up. ♪ [ male announcer ] once, there was a man
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is i the quicksilver cash card from capital one. unlimited 1.5% cash back on every purchase, everywhere, every single day. so let me ask you... at's in your wallet? david: pandora reported third quarter earnings just moments ago and it is follow falling of a hours. let's head to nicole petallides on the floor of the nyse with details. >> i'm watching pandora. it is flopping around but slightly lower. let's see what it is doing. look at bid-ask meantime. earnings per share came in and met expectations at six cents a share. the actual and the estimate. there is revenue. revenue beat the street. 181.6 million, versus estimates of 115.6. it is worth noting that listening hours at 4.18 billion, saw a rise, a total listener
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hours was up 17%. that actually is some good news there. but, we'll continue to follow the story here on pandora. music, internet, radio, whatever you want to call it. certainly so far -- david: they were up because originally they reported the same. that is good news for pandora. >> growing 17% year-over-year. liz: there we have it. nicole, thank you. s&p futures are now closing. let's head back to the fighting chris gersch on the floor of cme. chris, how do they look? >> liz, i'm a gentle giant. i lot him off easy. i told him he was not all there. trade remembers clearing out real fast. i thought there would be a sell off in the futures. creep upend of the close at top of the hour. not much news here. look to the overnight session with japan to indicate possible potential higher open with the s&p futures. if the nikkei opens up again,
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2%. you will see carry over again here like it did today. david: a lot of traders will stay up tonight looking at nikkei. thank you very much. chris. president obama's fix to his new health care law bringing new complications. the decision to extend the renewal window for existing plans has left states divided. >> rich edson joins us live from washington, d.c. rich, let's talk about the state commissioners who are worried about this. >> they say president obama's fix could be expensive. they could boost premiums for this year and next. and they say it took a year to phase out the plans. it is difficult to reverse that following a meeting with the president obama the insurance group president writes, these proposed changes are creating a level of uncertainty that we must work together to alleviate. the fate of the president's plan rests with the state insurance commissioners. they will either approve or deny the administration's request to reissue insurance plans they canceled because of new standard in the health care law. >> this is something that is up to individual states to decide. and there are all inner offer
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states, more than six, said they are going to move forward with this approval. some of these are red states. some of these are blue states. they're all states that have chosen to take the president up on his offer. >> each state has different insurance laws, standards, and result of which insurance commission supported the president's plan vary. 10 states allowed insurance companies to reissue standard plans, california, florida, texas, kentucky. several declined the white house offer including massachusetts, georgia and vermont. other insurance commissioners are running the numbers if the president's fix is benefit to insurance companies and their customers. back to you. david: sebelius, head of hhs was insurance commissioner in kansas, right, rich? >> she was. ben nelson, president of national insurance commissioners, "cornhusker kickback", came back to writing law was in nebraska back
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then. david: thank you very much, rich. liz: this black friday amazon plans to offer deep discount deals but will it this year be a race literally to grab them up? we will explain after the break. david: already beginning christmas shopping. it is crazy. after the break, former congressman ron paul joins us to discuss the future of the fed and janet yellen's growing unpopularity. you don't want to miss ron paul, dr. paul, coming right up. americans take care of business. they always have. they always will. that's why you take charge of your future. your retirement. ♪ ameriprise advisors can help you like they've helped millions of others.
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david: we have breaking news. this seems to happen toward the end of the year. we have more companies announcing an increase in quarterly dividends of the nike announce ad 14% increase in quarterly dividend, 24 cents per share on the company's outstanding a and b common stock. it is quarterly dividend. stockholders are happy i'm sure, liz. liz: stock is not budging for the moment. time for a speed read, day's other headlines, five stories, one minute. first up, a report shows the 13 top investment banks in the world are notes most profitable ones. kinsey and company says the average profitability of top banks last year, 8%. less than the overall average of 10%. cigarette company philip morris plans to expand into electronic cigarettes that will launched reduced-risk product saying this will be its greatest growth opportunity in the years to come. that's right. electronic cigarettes. who will win the black friday sales competition?
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amazon ups ante will offer deals for eight days, beginning sunday, the 24 h of november. tesla has been on fire not just literally. consumer reports reveals the tesla model s is top-rated car for owner satisfaction. nice move for them. the stock moved higher. jaguar land rover will team up with intel to open up a research center in portland, oregon, to have in-car infotainment. keep your eye on the road. david: good point. [buzzer] senate banking committee approved janet yellen's nomination despite the fact some democrats are turning against her. today's abolishment of some filibuster rules in the senate is her approval assured? if so what can we expect with her at the helm? first on fox business, former texas congressman, dr. ron paul. wonderful to see you, dr. paul. thanks for coming in. >> nice to see you.
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david: on this rule change, said it was coming. others thought it was too radical even for harry reid. what do you think about it? >> i think it raced call. reversing and canceling jefferson's rules, they have been around for a bit. no, i think, they talk about minor judges but i think they're making it so that they can get her appointed with a majority vote rather than going with the 60. david: let me stop you right there you think the rule change specifically was because of the vote for her, for janet yellen? that is why they changed the rules? >> no way for me to know but i speculate that is a very strong possibility. it seems like she is much more important person than some of these minor judges. hardly anybody in the country knows which judges they are talking about. the best i can tell, it will apply to yellen, under the new rule, which means it makes it easier. and you know, that vote was not overwhelming. you know -- david: no. we'll talk about. sorry to interrupt.
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you do have a source inches side the u.s. senate, your son, senator rand paul. was he planning to filibuster janet yellen? >> i do not know that with certainty. i know what he has said and he talked about it. and i know he doesn't, i know he doesn't like her monetary policy i dislike the system. i think she is more of the same, only worse. he thinks she is really a lot worse. that really strong inflationist. i don't think she hides it. i think we'll continue with qes. we're up to qe3, now. we're more likely to have another qe than we are to have tapering. next year when she gets control of this thing, we'll have qey. that is what i'm anticipating. david: even some democrats, we expect to you say that, and your son rand paul, even some democrats turned against qe and herrspecifically. joe manchin, democrat from west virginia voted against her. this is what he said. her views and beliefs to
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continue quantitative easing despite a failure to see any real gains, greatly troubles me. do you think there will be other democrats besides senator manchin coming over to that view? >> i think that is very possible. this to me is very impressive because it means that they're not buying into all the pop grand today. why are these conventional politicians talking this way and worried about qe? that means they're worried about inflation yet our government and our fed says, there is no inflation, don't sweat it. we have a lot of room, yes a growing number much people are concerned about the inflationary policies of what they're doing with this massive purchase of bond. so, i would say, it's a healthy wake-up call and i'm sure she will be appointed but, i think the discussion is going to be very, very valuable. david: now not only democratic senators and congressman. there are also former fed officials who have been coming out and speaking out against this policy. we had the piece in "the wall street journal" about a week ago
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by the guy, who was responsible for a lot of the purchases of the mortgage-back securities by the fed. he said, i'm sorry, america. i've come to recognize that qe for what is really is, the greatest back door wall street bailout of all time, from a former fed official. >> yeah. as a matter of fact i interviewed on myron paul channel and found it fascinating what he had to say because he was in charge of the qe1 where he was literally in charge of purchasing $1.2 trillion worth of bonds. i was kidding him, you know you're bigger than the u.s. congress put together. his package right there, he had control of more money than the u.s. congress did. that is how astounding the federal reserve system is, all done in secrecy, hopefully we'll get more transparency. as a matter of fact that came up in yellen's hearing because someone asked audit the fed bill. i'm essentially for transparency but i'm not for that bill. so i think we're making great
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progress because we're, we're a long way off from, you know, settled markets in spite of what the apparent boom is doing now and stocks are doing well and all this. but, i know that there's a lot of people who feel uncertainty and, i think that -- david: certainly on main street, certainly on main street there's a lot of uncertainty. on the fed audit thing, some people in defense of the fed will say, hey, look, dodd-frank has specific measures in it to assure that there is enough auditing done of the fed. to which you say what? >> i say the bankers get to write most of those regulations. every time we have a crisis we write more regulations. that seems to hinder the recovery. started with the sec in the '30s. there was sarbanes-oxley with the crisis 10 years ago. now we have more of this regulations can't overcome bad mistakes this is what is happening with obamacare. more and more regulations of central economic planning which
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is unachievable. so all the regulations in the world will just confuse things. it will dampen enuse am. chases business away. costs more money. that's one of the major reasons why we have the economy doing so poorly. no, that can't save it. it props it up. if it temporarily helps. it just delays it and makes a crisis that much worse. david: dr. paul, are you birthing babies again once you're out of congress? >> no, i'm just trying to spread the great message of liberty. i'm staying busy. david: he did birth 3,000 babies. he done work in the medical field as well. dr. paul, thank you very much. appreciate it. >> thank you. david: liz? liz: overnight at 3:00 a.m. the euro's value dropped dramatically but then recovered after mario draghi, the head of the ecb, came and calmed down the markets. what spooked the euro and what does it mean for investors in that currency over the long term?
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the u.s. dollar suddenly muscling up. we look at how you can play this. david: love these egg isments. the return of ceos to serve on boards. why is it happening right now? we'll talk to the chairman and ceo of james drury partners. he has done research specifically how this can affect the value of companies. you don't want to miss this segment coming up. ♪ my mantra? family first.
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david: it is time for a look at today's market drivers. the dow closes above 16,000 for very first time ever, extending a rally that has the blue chip index on track for its best year in a decade. the dow is up 144% from its 2009 low. job less claims fell more than expected last week to its lowest level in nearly two months. claims declined by 21,000 to seasonally adjusted 323,000. the producer price index which measures how much companies pay for goods and services declined .2% in october from the previous month due to falling energy costs. core prices which exclude food and energy rose 2.2% from september. liz? liz: let's talk corporate board. sometimes they're under attack. other times they're supported. over eight teach-year period
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starting back in 1990 the number of ceos serving on boards on companies other than their own dropped 33%. seems a reversal is now taking place. why are ceos coming back to company boards and how important is their role in advising a company? david: joining us is james drury, chairman and ceo of james drury partners this is a fascinating study and really does affect the bottom line and therefore affects investor concerns. because if you look the way boards are rejiggered and might mean the stock price goes up and you might want to buy before that happens. a very important segment. jim is there any way to quantify, specifically quantity tie the difference adding ceos to your board would make in a company's performance? >> yes it is. in our corporate governance capacity study we've been doing for three years we looked at boards of the 500 largest companies by revenue and by market cap and evaluated each of their directors in terms of their business acumen, because
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we think that equates to governance capacity and we think boards need a lot of governance capacity. we found companies in the fortune, in the 650 companies we looked at that were smaller and maybe mid-sized, mid-sized being, $4 billion, to 12 or $15 billion, that had a lot of governance capacity, even though smaller scale, significantly outperformed large companies that had less governance capacity than you would expect. i think our big surprise was how many large companies have relatively weak governance capacity as compared to many small companies that have very strong governance capacity. it does make a difference in terms of stock performance. liz: well, when you talk about business acumen, certainly a ceo who has run a company knows about those things, you know, there are all kind of questions. are you bringing on independent members? that is not what this segment's really about. it is about expertise that a former company leader can bring to aaboard? don't you always, james, have to
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take into account, their ability to understand the business? there was so much to be said when jpmorgan endured the "london whale" situation. turned out dave coty ofell was t of risk part of their board. listen, dave is brilliant guy but honeywell is high technology company making things like thermostats or the space shuttle dashboard. i'm not sure he knew how to find risk in a "london whale" type trade at jpmorgan. >> many companies, when you're looking for directors you're not looking for somebody that really understands your business. consumer package goods, industrial manufacturing. you're looking for somebody that understands the international marketplace, m&a, diversification, innovation and investment but there are certain industries, particularly the financial services industry, that have become so sophisticated and so complex that it take as significant amount of understanding for the
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average board director to understand the business and my view is, in those industries if the board directors don't understand the business, the business is, their governance is at great risk because they have no idea what appropriate questions are to ask. they should challenge executives to say, i don't understand what you're talking about. how do we make money in this business? david: we've not only seen that from people on the board but activists shareholders. i'm thinking of carl icahn who is very vocal about the way he thinks certain companies should be run. apple thought enough of his comments about them to invite him in, literally into the boardroom. talk about that a little bit, effect people like carl icahn and other activists have onboard behavior? >> they can have a significant effect. i think there are variety -- david: positive or negative by the way, bottom line? >> i think it can be either/or. i think it depends on the behavior of the activist. i think of nelson peltz who about six years ago lobbied to
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get four directors on the heinz board. i know that the heinz board was very concerned about that. he succeeded getting two. i can tell you after about two or three years when he really got to understand what heinz was all about and what they were doing, he became one of their best board directors. i think -- david: wow! >> if you ask chairman and ceo of this recently-sold company who the best board director is, nelson would be up there. nelson gets to really understand the business. others put a lot of pressure on the board without a real commitment to understanding the significance and the key issues of the business. liz: how crucial is it, mr. drury that boards and ceos, look and listen to the complaints that a lot of boards don't have enough women on them? it is proven that board have women on them tend to have better return on equity than board that is don't. women sort of think differently
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about risk, et cetera. twitter, for example is in the news. they have at all-male board. >> who? liz: twitter which went public of course. a hi-tech hip company out in san francisco. what is your thoughts about the requirement that the french and italians are doing you must have at least one or two female board members? is that something to ignore? you tell us. >> you can't ignore it but they need to be diverse for the right reasons. plenty of people out there with expertise contribute to boards. in fact in america, of the, in 660 companies we looked at, those boards that had women had an average of two, not just one. still a fair number looking for the first woman with regard to twitter specifically, i can tell you that i know that their next commitment to add a woman. we do a lot of board work. we talk to a lot of boards.
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we represent the executive elite looking for a board. i know for a fact they will be very disappointed if the next director they appoint is not a woman. david: jim drury, good to see you, jim, thank you very much. >> good to see you again. david: appreciate it. banking on a blockbuster. we look at predictions for the latest london games film called catching fire. it is later this hour. i don't want to miss it. you shouldn't either. liz: who wants to turn down donald sutherland who is my favorite? david: no one. liz: europe had a volatile 48 hours you can say. what is weighing on the currency? how can you play it for the long term? what does it mean for the u.s. dollar? that too. ♪ we asked people, "if you could get paid to do something you really love, what would you do?" ♪ [ woman ] i'd be a writer. [ man ] i'd be a baker. [ woman ] i wanna be a pie maker. [ man ] i wanna be a pilot. [ woman ] i'd an aritect. what if i told you someone could pay you
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the currency fell, 2:55 a.m. i was watching it. kidding. david was up, absolutely. liz: there were rumors that the european central bank was issuing negative deposit rates! mahremario draghi said no plans were imminent. that would hurt savers. with uncertainty around the ecb policy how should investors play the volatile currency? we have a currency strategist. the dollar saw its highest levels in july, most likely what came out in the fed minutes yesterday which seemed to be dollar positive. let's get to the, can millla. you say this is dangerous game for the investor but you say there is a way to do it. what happened during the last 48 hours? >> we had a lot of news the last 48 hours, started initially with news that the ecb might hold a special conference, a special meeting to discuss negative interest rates.
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that sent the euro lower. it followed on with fed minutes that really opened the door further to poe things december or january taper. on top of that we had very weak data from europe. today we had mario draghi speak early in the north american session. he said the ecb didn't cut rates because of inflation. we look at biggest surprise on year-to-date basis it is euro resilience. next year we expect the euro to move weaker and likely to move weaker with a combination of fed policy and ecb policy those two combined should drag the currency far lower than it sits today. liz: 1.34, i can not believe it. surprises me considering there so many questions about the health or gigantic deficits being run contrary to what they're supposed to be doing. the many rules the people aren't following with eurozone with the 17 nations. let's get to the investor out there that says i want to play currencies. what is the best way to do it right now?
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>> if you're a investor with a lot of risk tolerance, currencies look shorting euro,, shorting euro really almost against anything. if you're hesitant about the euro u.s. dollar cross you can short almost any other currencies. look at yen, look at sterling. all of those make great plays. currency like sterling, central bank policy moving opposite direction of ecb and fundamentals moving opposite make as nice short-term play. liz: seems to me the yen currently undergoing what we see, massive expansionist policy when it comes to things like quantitative easing is that really the play to make with the euro because that would mean two weak currencies? >> absolutely. you have two weak caravans sis. depends on your time frame for that one. in the near term we see more dovish ecb. next year we start to see a more dovish bank of japan. i suggest it's a euro-yen play in near term.
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when you get out to next year it shifts when the bank of japan becomes more aggressive in their policy right now they're making baby steps. right now the focus will be on what is the ecb's next move. they are in a tight box. they don't have the same policy tool kit the u.s. has. how will they face what they have right now? very disinflation nary environment, low growth and few tools. they can't go in and buy bonds so. that puts them in a very different position. i think from a currency perspective, negative interest rates are negative from so many fronts. one. biggest ones you incent your banks to start taking deposits outside of europe. you create that negative flow. that create as euro downside. liz: talk quickly about that. yoor yearened target for 2013 is $1.31. you're talking a couple pennies because we're at $1.34 right now. it is more dramatic at end of 2014. of at end of 2014 you see a buck 25. shorting euro with time horizon that you have to sit through the
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bumps and bruises. there will be moments where the u.s. dollar faust, correct? >> absolutely. that is the nature of currency markets. we have the ups and downs. for the u.s. dollar it is about the fed policy and growth outlook. our expectation that u.s. growth does all right next year. the labor market recovers. puts the fed in position to end tapering by next summer, to end qe by next summer. we look at interest rate hikes all at time where -- liz: totally end qe by next summer or taper by next summer? >> so, finish bond buying but continue to maintain the portfolio as is by next summer. liz: all right. >> and so they finish the tapering but they still have a tremendous portfolio of bonds they're likely have for years and years. and then it is interest rate hikes late 2015. but that's a very different scenario. liz: we won't go that far. we're -- camilla, thank you. good to have you. >> my pleasure. have a great afternoon. liz: camilla sutton. always good to teach people how
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different types of investments. david: i was listening to your canadian accent to counter her canadian accent. liz: sorrow, borrow, tomorrow. david: it there you go. microsoft and google battling over online store. is the anti-google swag cool enough to buy? you decide. when we go "off the desk." liz: "the hunger games", people, catching fire rolls out this weekend. some are saying this film could set all-time record for a november release. dennis kneale has the story. ♪ this is the quicksilver cash back card from capital one. it's not the "fumbling around with rotating categories" card. it's not the etting blindsided by limits" card. it's the no-game-playing, no-earning-limit-having, deepomb-throwing, give-me-the-ball-and-i'll-ta- it-to-the-house, cash back card. this is the quicksilver cash card from capital one. unlimited 1.5% cash back on every purchase,
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everywhere, every single day. so let me ask you... at's in your wallet?
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liz: let's likely on geat. david: let's --'s. liz: up 100 percent due in part to "catching fire", the sequel that opens this weekend. david: i already have my tickets. i don't know if dennis kneale is. he is here to shed light on whole situation. >> hi, david and liz. "hunger games: catching fire" is on fire in the box office. opens 4100 theaters in u.s. many running early 8:00 shows. sequel could reap a $300 million opening weekend worldwide.
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half of that in the u.s. if this hotly anticipated film can pass 160 million-dollar mark in the u.s. as some forecasts say it, would topple the twilight saga new moon as best november opener of all time. but the overseas box office may be the real star of this flick. the first "hunger games" took in almost $700 million worldwide, yet over 400 million came in the u.s. sequel c growing even more, fueled by a much bigger takeover seas. it has several things going for it that the first film did not have. lionsgate stoke ad lot more interest in catching near online and oversees. the opened a week ago in brazil only, took in three times as much there as the first one did. now that augers well for overseas revenue which could provide more than half the total take variety notes. there is newly-famous oscar winner jennifer lawrence in the lead role. lately with her cute new haircut. we barely knew you last time
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around, jenn. lionsgate is hoping it builds into disneyesque franchise and theme parks and happy meals. so though it's a little dark, the catness is race to the death with other kids. good luck on that, guys. david: theme park based on "hunger games." kind of weird. of a have tore was billion dollar picture. will this be a billion dollar picture? >> franchise itself will be billion dollar picture. i would bet begins it. liz: donald sutherland is draw for me. >> donald sutherland is draw for you, david, not jennifer lawrence? david: both my friend. liz: dennis, thank you very much. david: how much would you pay for your puppy to stay puppy forever. believe it or not it is possible but there's a catch. if you love puppies, you have to stick around for this.
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liz: let's go off the desk. imagine a dock that will never lose its puppy face? this dog is a mix between a cavalier king charles span el , bejon freeze mix and miniature poodle. owning one of these puppies is hefty price tag 2,000. david: i have to bring my pictures next time. also "off the desk," microsoft dedicating online section anti-google products. this mug. let's look at the mug.
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costs 7.99. keep calm while we steal your data. company also selling a t-shirt says i'm watching a t-shirt for 11.99. will it sell? liz: "money" with melissa francis is next. melissa: it is official. there's a full-on war against corporate america. is it real or just fabricated by the unions? we're talking walmart to mcdonald's. both sides are lining up for battle. even when they say it's not, it is always about money. melissa: wisconsin governor scott walker knows all about this war on corporate america and the huge hand unions have had in all of it. he writes about it in more in his new book, unintimidated. i got a take earlier today. you took on the public unions in 2011. you were almost recalled


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