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tv   Varney Company  FOX Business  May 16, 2014 11:00am-1:01pm EDT

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with good earnings pushing those names higher but broadly speaking retail under pressure. time for "varney and company". i will see you monday. it is all yours. stuart: good morning everyone this socialism takes a beating. not a bad start for a friday. indy all landslide win for the private enterprise party. the world's biggest free election froze out the left. back home and astonishing valuation for the taxicab worth $10 billion. and an online bulletin board worth $5 billion. here come the big kahunas, stocks are going down. here is another name, charles payne vindicated, swimming against the tide all these years, always supported j.c. penney. "varney and company" is about to begin.
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>> we got a check of the big board but there is not much going on. pretty much the same story with the s&p 500 this friday morning, $18 and scsi $0.09 is where we are, not long ago we ran 1900. billionaires' buying and selling. star with berkshire hathaway buying the stake in verizon, a levon million shares. let's put verizon up 2-1/2%. david tepper bais facebook, price line and expedia and more google. not much impact and just release the government is going to find general motors $35 million over the ignition recall. gm admits it did not notify the fed's of safety problems quickly enough. look at the stock, it is going. david einhorn and leon
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cooperman, they have gotten out of their gm holdings. look at charles's pick, charles payne's pick. j.c. penney not bad, a 15% gain reported strong sales. it is brimming over with this and he is here. you got on the set earlier today because of this. you are vindicated. charles: i'm in the process of being vindicated. i think people should hold on. it is a 30% short position. they are pounding this thing, over $10 in the after market. jpmorgan says we have a target of 5 and we go to 9. the target is a-5 and. a bang goes to 10 for 6. and anything halfway nice was oppenheimer. they made a bet on this company going out of business and sticking to it but i think they're turning around. by the way dillard and nordstrom
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also a big today. stuart: we are going to do that right now. don't interrupt the flow. profits are indeed up nicely at nordstrom, lauren at the exchange, are you going to tell me how big the stock is? >> reporter: say off my stock. is up big time, almost 11%. it took out a new high, that level is $69.10. the earnings report was really good, same-store sales, of the -- at nordstrom, discount line at nordstrom, also have solid sales from the online department, but so many retailers blame the weather. and this is the winner today. stuart: thanks very much, we will be back to you quickly. look at the dow, this is pretty
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much flat. so much for our use of the new $17,000 graphic on the dow. let me make certain. charles, come back in again. another big kahuna nervous about the stock market, ralph is not a big investor but one of the big gurus of this world. if i'm not mistaken didn't he said the nasdaq is going to go down 25% this year? charles: he said it was a lot, 15%, 15% to 25%. this is the easiest call in the world. i got in an elevator and someone asked when is the class coming? we should be hearing any minute now if you want to be a do and be registered as a great guru jump on this down wagon. is bound to happen. it is and five years. listen. like i always say crashes come periodically but looking longer-term if it does happen
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today, if it happens tomorrow, you have to be an investor in the stock market and unfortunately what i feel like is millions of people missed the rally because of this. that is what bothers me the most. of the stock when 20 to 30 and goes down to 20 to 40 and goes up 5 points or whatever, in other words if you were in it the old time taking the hiccup in here and there wouldn't be bad. stuart: that wrapped up stock market coverage for the first five minutes of the show. we have a new survey of millennial voters, 20 somethings. this shows only 30% of those who voted for obama in 2012 plan to vote for democrats this year. only 30%. what turned them off? that is a huge shift. that is the question. what turned them off? >> it is huge and obviously the nsa scandal is where we saw a marked downturn in the
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president's polls and trust in the president we saw in the harvard poll has gone down 7% in one year. that is huge, 32% trust the president. that is a huge cataclysmic shift inside, we believe it is the nsa scandal that was the linchpin turning moment coupled with the obamacare website failure, the irs scandal, you name it. stuart: however millennials i did say young people in general, in midterm elections don't turn out in droves. odds are also the president's party lost that constituency as a big boost, it is not such a big boost for republicans. that is how i am reading it. >> exactly right. millennials will stay at home now but what is interesting is democrats will tell you the reason turnout is solo is this is a traditional midterm low turnout but it is a lot more than that because really revealing poll came out of the weekly standard, leaning
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democratic, used to be 62% of millennials leaning democratic at the beginning of 2013, now that is 54% leaning democratic so that is a point drop in the year so i think this is more than midterm turn out. is a shift away from democrats. stuart: you are not one of those millennials that wants to legalize marijuana and stop the nsa jeting people out if they might be terrorists. you are not on that side of the millennial fence. >> i am not but i am in the minority. i recognize that and many millennials nsa is a huge but i don't think by the way marijuana is a turning point for millennials, but nsa is but i'm in the minority is to point out. stuart: what about social issues to the war on women? whatever you want to make of that, game marriage, abortion, that kind of thing. how does that feature this time around? >> republicans would be wise to back away from those issues. is something we obscene rand paul inch away from. he is not talking about abortion and gay marriage. those are now winning front-line
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issues for millennials however on the issue of abortion millennial farm more pro-life than the prior generations so that may be room for the republican party to come in and launch that issue. stuart: who is the millennial's pick for republican candidate? des cross-section of millennials, got to be rand paul. >> certainly rand paul. rand paul is the one making an effort and you and i talked about this, up to republicans to court millennials, rand paul has done that in due will be fruitful for him. stuart: we love having you on the show. you are our millenial barometer if you like and we want to see a lot of you before november. are you coming to new york soon? >> i will be very weak. stuart: you are on. you will be right here, thanks, see you soon. take that, socialism. india's election commission is projecting a huge victory for the pro-business candidate and his party. this was the biggest free
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election ever held and the party of private enterprise was elected to get the economy going again. i don't care where this happened, the fact that such a refuge countries taking the shift towards market-oriented policies, private enterprise to me is used. before i love it. i have been writing about this. i have a piece on my homepage i want people to read it. i have been talking about this for a long time. are recommended the big debate in september on the show up 63%. this guy is no joke. here's what critics are calling it. hindu chauvinism, they are saying it is all for a patriotism, the kind of thing that creates nazism and that kind of stuff but here is a guy saying i believe in free markets, we are going to get rid of this cronyism, you had the same family ruled this country for 40 years and handful of people were billionaires', talk about income inequality, there's one guy with a house that is 60 stories tall, his private residence 60 stories tall
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casting a shadow on shanties with ten recently completed on income inequality. stuart: he will introduce private companies into the oil and gas business within india. the old line gundy group the congress party, socialist gone. defeated. he has won such a big majority he does not need a coalition. charles: a couple years ago they went on to big boxmakers, the same complaints you here at walmart, putting small people out of business. what happened this food inflation through the roof, and in price in india went through the roof because you don't have a supply chain. great to help but when you pay twice as much for an onion than you normally would, no more statements, we will cut that down. no more subsidies for fuel, we are going to create jobs and make it work. we will do the infrastructure thing but the bottom line is free market and that one of the five people making all the money. i love this guy and not just
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india, indonesia, and i love him, check that out, and people just talk about japan as printing money, he is a lot more than that and we are venturing towards nationalism that scares people and an internal strip. we need that in america. stuart: see what we bring you friday morning? charles payne fired up about private enterprise. stuart: the tea party won this week. charles: this was the biggest win for the tea party. wasn't in this country. stuart: you saved the best line till last. almost out of time that 30 seconds, the other headlines get them to you. technology first, comcast may impose data limits on its internet customers. if you stream netflix all day long you could end up paying even more on top of your standard subscription fee. next item take two interactive grand theft auto video game franchise wildly successful.
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now the game is available on amazon's tv streaming device for $5 a pop. speaking of gamers, sony's play station 4 the top-selling consul, sold 7 million units since its launch in november. guber valued at $10 billion, the online bulletin board website i pinterest in concentrating wealth, doesn't employ many people we discuss it and those trade evaluations next.
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the numbers are impressive. over 400,000 new private sector jobs... making new york state number two in the nation in new private sector job creation... with 10 regional development strategies to fit your business needs. and now it's even better because they've introduced startup new york... with the state creating dozens of tax-free zones where businesses pay no taxes for ten years. become the next business to discover the new new york. [ male announcer ] see if your business qualifies. stuart: three points higher and i called this dead flat. look at true car, brand new idea allowed just open the couple minutes ago, online resources you want to buy a car, get pricing information, by a car through a dealer affiliated with this website. they price it kind of low
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because it is up 13% in the first few minutes of business. the ceo coming on fox business and 4:00 p.m. this afternoon. the price of gold hardly changed, where is the price of oil this friday morning, $102 a barrel. charles has a new different companies says, get into a and you will make some money. kansas city. charles: i haven't done it. stuart: it is a railroad. charles: our railroad that has been hit, they were brilliant. i love the stock for 20 years, i own a big railroad in panama, the new canal will be built, an amazing thing and the mexican election, and the new president says there is a monopoly and there is a monopoly. stuart: what do you mean the new canal? there's a new canal? charles: is going to be revolutionary.
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it is amazing. stuart: i didn't know that. charles: is going to be amazing. the amount of commerce that will flow through their these guys are perfectly positioned for that. stuart: for a guy in the news business got to be high end. did you know that? did you know there is a new panama canal being built? charles: is going to be amazing. it should be done next year. absolutely amazing. google the skyline of panama city. will blow you away. i would be nervous buying property in miami. a lot of that money will start sobbing in panama. i don't think the mexican government will hurt this that much. and everything, grains, boxes, $200. stuart: new panama canal. kansas city had does it well. let's move on.
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two companies we talk about with multibillion-dollar evaluation. let's start with the taxi apps, money raising operation, $10 billion. then we describe this as an online bulletin board. weird doing down with that but it is $5 billion. this ceo ted murphy, things like theinterests. i want to show our viewers something. this was posted by our producer's wife on pinterest. it is cupcakes. >> everybody loves cupcakes. stuart: and posted with it was a link to those cupcakes. that web site is worth $5 billion. are you kidding me? >> this evaluation really
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demonstrates how web is progressing. sink to the early days of google everything was text based. if you think of all the big valuations now it is heavily weighted on the visual web. and people are taking photos and you are able to discover things and it is all about short form content. whether it is short videos online and short videos on instagram people's attention span does not allow them to consume that content any more. stuart: i can see the finished product and make an instant judgments. i don't have to read through paragraphs of text or commercials. i like the look of those things. click on the link and i am done. >> i don't think of this as a message board. think of it as a visual search engine. if i take in cupcakes hopefully what bubbles to the top is the
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best possible recipe, the best photography and that will all be determined by the crowd. they will say that is great. i will share this. i will pin this and that is what bubbles to the top. stuart: that is worth $5 billion. >> it is very early. they started allowing advertising three days ago. these guys raised a ton of money getting to this point. they just now started introducing modernization whether it is $5 billion, we need to wait a couple of years. stuart: a taxi apps, call up a bunch of independent taxi drivers and they bid on the best price. >> the u.s. taxing market is $6 billion for the entire industry. $9 billion in europe. what is important to understand is it is not just about taxes.
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i believe taxis and limousines what they are doing is the gateway to the future. in the future, i include things like delivery services, if they could compete with air b&b they have people who love that platform and have credit card information that is easy to use so you will see it for sourcing all sorts of things. charles: what is amazing with both these companies, government intervention and disruptive technology to protect the status quo, is really scary stuff. guber is preventing cities from going business, tesla, the division thing, air b&b, attorney general of new york, this is disruptive technology thattimately lessen the power of hotels. i know some cabbies to spend a lot of money on their medallions that this is the way it is going. stuart: with $5 billion, $10 billion, that tells you that the government is not going to
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be able to. >> this is all so -- part of it is creating a war chest. they have to fight these battles. it will take some time to see the success and scale and got to have the money to persevere. stuart: you are the ceo and you work in this arena. >> social media all day long. stuart: what is the evaluation of isea. >> it is publicly traded. i have a nice little piece. stuart: i won't ask the question. said murphy, it is a pleasure. costs of a wedding straight through the roof. $29,000 on average across the country. more than $80,000 on average in new york city. that caused a stir on our face
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book and twitter pages. we will bring you that stir after this.
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america's newest real estate brand is all ready the brand of the year. berkshire hathaway home services. good to know. when folks think about wthey think salmon and energy. but the energy bp produces up here creates something else as well: jobs all over america. engineering and innovation jobs. advanced safety systems & technology.
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shipping and manufacturing. across the united states, bp supports more than a quarter million jobs. when we set up operation in one part of the country, people in other parts go to work. that's not a coincidence. it's one more part of our commitment to america. a short word that's a tall order. up your game. up the ante. and if you stumble, you get back up. up isn't easy, and we ought to know. we're in the business of up. everyday delta flies a quarter of million people while investing billions improving everything from booking to baggage claim. we're raising the bar on flying and tomorrow we wi up it yet again.
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stuart: they have to pay. that was john stossel on the cost of a wedding these days. $29,000 nationally. we asked you what you thought about paying that kind of money. i think it is a personal choice. katie adds, if the bride wants to be a fairytale princess, it is on them. i get that. james adds, shunted the man get an expensive engagement ring also? why is it the man the only one to fork out the dough?
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personally, i have no problem with the romance and tradition. thank you for all of your comments. wwe wrestling stays on nbc's for the foreseeable future. one firm does not think that is a good idea. wwe down 42%. darden is selling the red lobster chain. they are paying more than $2 billion in cash. darden is down 3%. the wildfires in southern california, they are still there. firefighters still there trying to stop it from spreading. of course $20 million worth of damage thus far. they have arrested two teenagers after they allegedly tried to
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start to brush fires. the drought in california has led to the speed at which these fires spread. a report shows that california is suffering a moderate drought. order a computer online. the nsa intersects it before it is delivered. there is a tracking device on it. there is no knowledge that it has been tampered with. we will bring you the full story on this in just a moment. ♪ every breath you take local every movement you make a local every step you take local i will be watching you both go. ♪ ♪
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so ally bank has a,900. that wothat's correct.a rate. cause i'm really nervous about getting trapped. why's that? uh, mark? go get help! i have my reasons. look, you don't have to feel trapped with our raise your rate cd. if our rate on this cd goes up, yours can too. oh that sounds nice. don't feel trapped with the ally raise your rate cd. ally bank. your money needs an ally. ♪ stuart: i confidently predict that we will not hit 17,000 on the dow today. thus far this friday morning, we are pretty much flat. jcpenney up very nicely. reported much much better. they have rack space. i think this is one of those companies that stores stuff for
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you up there in the cloud. i think it is up again. >> it is a cloud company. up to date more than 20%. they have hired morgan stanley to evaluate options which include the sale of the company. rack space is facing competition from the smaller companies. also ibm and microsoft. if you look at them on a 52 week basis, they are down again. stocks overall are struggling. stuart: the cloud idea is catching them big. the nsa reportedly intercepts packages to plant bugs. joining us now from washington is not kirby.
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>> i am a libertarian. i believe in individual freedom. stuart: i want to find out what is going on with this interception. >> it is an expansion of what they have already done with our phones. they are collecting all of our phone data. the pfizer courts do not let their decisions be available to the public. stuart: a security court. are they intercepted with the full knowledge of the shipper?
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>> that is another question we do not know the answer to. this has been the problem all along. it is not at all clear who is in charge of this. i do not think it is constitutional at all. you oppose it, obviously. stuart: the counter argument, if you want to get all the terrorist before they terrorize us all, this kind of thing is okay. what is your argument? >> this kind of behavior is not authorized by the patriot act. if they want to target people that are suspected of wrongdoing, they should get a warrant. there should not be a general warrant. that is precisely what the american revolution was about. you have to control your property and your privacy. this is what they are violating
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today. stuart: would you be happy if there was a specific warrant, even if it was issued secretly. >> i think justin mosh, the congressman from michigan, more affability and advocate in these secret courts that we speak of for the individual, not just the government. we do not need to target people before they had even been suspected of committing a crime. stuart: if there is suspicion of some sort and presumably the court would listen to that suspicion and to say, okay, you can intercept this computer and you can plant your bug -- what i am trying to get at is, surely, there is a legitimate framework
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that would allow our intelligent services to keep tallies on people who very well may be a serious threat to america. >> i think so. this blanket in discriminative targeting of everybody undermines the real cause of catching really bad act theirs. it is very dangerous to give a secret court and faceless bureaucrats within the nsa this broad, discretionary authority to go after who they want. they do abuse power. people abuse power when they get a blank check. stuart: president obama was opposed to this before he was elected. now he is in power and i think he wants to keep it. >> he does not seem terribly concerned. they just filed a motion to dismiss our fourth amendment to
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the challenge and nsa. it says that you have to have a warrant. you have to have probable cause. they do not seem worried about that. if i believe in big government, i would want to hold it more accountable. that trust is so essential. stuart: very important stuff. we appreciate you bringing it to us today. thank you very much, indeed. regulators opened up open up the door to controlling the internet. big companies like netflix. they may have to pay more to stream content through your tv. online videos. >> what do you think will happen? will it go down bush remarks will they go up? double.
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>> i have no idea. ♪ [ tis screech ] chewley's finds itself in a sticky situation today after recalling its new gum. [ male announcer ] stick it to the market befo you get sck. get the most extensive charting wherever you are with the mobile trader app from td ameritrade. wherever you are with the mobile trader app if ...hey breathing's hard... knowhe feeling? copd includes emphysema and chronic bronchitis. spiriva is a once-daily inhaled copd maintenance treatment that helps open my obstructed airways for a full 24 hours. spiriva helps me breathe easier. spiriva handihaler tiotropium bromide inhalation powder
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does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taking spiriva and seek immediate medical help if your breathing suddenly worsens, your throat or tongue swells, you get hives, vision changes or eye pain, or problems passing urine. other side effects include dry mouth and constipation. nothing can reverse copd. spiriva helps me breathe better. does breathing with copd weigh you down? don't wait to ask your doctor about spiriva. stuart: started restaurants have agreed to sell its red lobster chain. guess what, they are paying $2.1 billion in cash after transaction and cash fees.
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darden stock is down. look at that. darden also runs all of garden, longhorn steakhouse. a holding company for approximately $2.9 billion. i don't have a clue what that means. somebody tell me, please. apple will also conduct -- do not worry, folks.e it is friday. ♪ along with support, chantix (varenicline) is proven to help people quit smoking. chantix reduced the urge for me to smoke. it actually caught me by surprise. some people had changes in behavior, thinking or mood, hostility, agitation, depressed mood and suicidal thoughts or actions while taking or after stopping chantix.
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if you notice any of these, stop chantix and call your doctor right away. tell your doctor about any history of mental health problems, which could get worse while taking chantix. don't take chantix if you've had a serious allergic or skin reaction to it. if you develop these, stop chantix and see your doctor right away as some could be life threatening. tell your doctor if you have a history of heart or blood vessel problems, or if you develop new worse symptoms. get medical help right away if you have symptoms of a heart attack or stroke. use caution when driving or operating machinery. common side effects include nausea, trouble sleeping and unusual dreams. i did not know what it was like to be a non-smoker. but i do now. ask your doctor if chantix is right forou. how much money do you think you'll need when you retire? then we gave each person a ribbon to show how many years that amount might last. i was trying to, like, pull it a little further. [ woman ] got me to 70 years old. i'm going havto rethink this thing. it's hard to imagin how much we'll need for a retirement that could last 3years or mor so maybe we need to approach things dferently, if we want to be ready for a longer retirement.
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♪ ♪ stuart: look at this. double digit gains for home construction. that is fantastic news. cheryl casone, why do you have a rather sour look on your face? cheryl: i am trying to smile through what i think is a bad part of this story. rental units, people are not buying. they are renting. they got hammered after the building center that yesterday that was so negative. it is a little bit of a hangover from the winter. we actually had a horrible
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winter. when you start the excavation of the land. when the ground is broken. you cannot do that when it is 5 degrees outside and there are inches of snow that you cannot get your construction equipment through. stuart: a tiny bit of a rebound. cheryl: multi family. investors are smart. they are building apartment buildings. nobody wants to buy. they want to rent. stuart: thank you, cheryl. the sec is moving to control the internet. it could mean that companies like netflix would have to pay more to stream stuff to you quickly. what happened to the little guys that do not have that kind of money? do i have the pronunciation right?
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>> it is based on truth. stuart: pronunciation is very important. you make videos. you put them on youtube. that is how you make money. if netflix has the money to buy faster speed delivery, does that hurt you and your line of business on youtube? >> i think that it may hurt me. what is more likely is youtube will have to pay as well. the bigger potential loser here is the new start ups in the technology industry that just wants to reach customers and not the highest speed available. stuart: you will not have a problem, will you? do you have a problem with speed? >> i do not expect that to be a problem. i do not think i will have a
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problem. i think the people that will have a problem are the people trying to break into the internet industry. the system is a total level playing field. any data on the internet has been treated like any other. trying to force the big companies to pay more to get the customers in an efficient way. stuart: you put out short videos. are they demonstration products, how to products? >> i do a lot of different things. demonstrations, interviews with people on the street, interviews with nobel prize winners, etc. stuart: you get paid per view? >> that is exactly what happens. you can split the ad revenue between them and your self.
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you know those annoying apps that were here before the youtube videos. that is how i make a living. it does help me create more content. stuart: could i do this? could i go out there and make a video, how to invest in the stock market, sell it to youtube and the viewer? >> you could. you do not actually have to sell it to you. you are not actually giving up any rights. you are using youtube as your distribution platform and they are paying money because it is popular.
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i have accumulated about 78 million views now. stuart: how many videos have you put out in three and a half years? >> a bit over 180. stuart: what is your best seller? >> a video about the roundest object in the world. the most perfect sphere. it is made out of a particular kind of add-on. it is to re-create a kilogram. stuart: that was your best seller. could you tell me how much money you made on the perfect circle? >> on the perfect sphere? stuart: yes. >> between 10 and $20,000.
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>> that one was a particularly big winner. you do not make that on most of your videos. stuart: in three and a half -- >> your biggest videos span 100 times better than your worst videos. on average, you may get a few hundred dollars. stuart: very good. i am tempted to dip my toe in the water. it was a pleasure. come and see us again. we want to hear more about this. thank you. >> absolutely. thank you. stuart: the market is dead flat. i will call out that. we have "new york times"
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executive candidate fired. was her ousting really about politics or demeanor? ♪ memorial day weekend? looks like fun. but what about this? if you're looking to buy a car, now is the time and truecar is the way.
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just go to to lock in guaranteed savings... without negotiation. thank you! hay memorial day weekend! the numbers are impressive. over 400,000 new private sector jobs... making new york state number two in the nation in new private sector job creation... with 10 regional developmt strategies to fit your business needs. and now it's even better because they've introduced startup new york... with the state creating dozens of tax-free zones where businesses pay no taxes for ten years. become the next business to discover the new new york. [ male announcer ] see if your business qualifies. is all ready the brand ofstate to disthe year.dnew new york. berkshire hathaway home services. good to know.
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stuart: the executive editor for the "new york times" was fired this week. she was kind of difficult to work and the newsroom with. after the firing, we hear, that she was upset also about her pay. she says it was less than that of her predecessor. tom sullivan is here. he says that there is another reason why she was fired in the first place. >> we talk about benghazi, the scandal there. we still talk about the irs scandal. the scandal we forget about is the obama administration going after the media, going after our colleague james rosen. that thing has been swept under the rug. nobody is talking about that scandal anymore. the media is not talking about
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the scandal anymore. she said the obama years are a benchmark for a new level of secrecy and control. she said sources will come forward with stories they feel are important. in that, to me is what happens. she went over the line. if you have and you want to control that, you do want the "new york times," they are the newspaper of record for your base. this group over here is a bad apple. that is exactly what she said. jason, from washington, d.c., he is an insider. that is the secret buzz going
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on. jill abrams said you cannot have this. stuart: she waited a couple of months. >> there is no other answer here. nothing else makes sense. this thing about the pay is so bogus. it is like she got her job from the help wanted ad. no. you negotiate your salary. stuart: you could interpret it as a conspiracy theory. jason in d.c. called your radio show. you picked it up very well. tom sullivan, everybody. the irs targeting scandal. the orders came from washington. a u.s. senator urged the irs to
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this is our second hour. the irs targeted conservatives in the middle of a presidential election. new internet company is worth billions. is it a bubble? the fight over negative reviews online. and judgment on five years of all governments all the time. is the failure. all right, let's be honest.
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it is dead flat friday. gain of three points on a 16,000 index, says to me it is flat but look at the yields of the ten year treasury, benchmark for interest rates, 2.5%, weighed down over the past week, that is big news, i have a big name, j.c. penney reported strong sales. if you listen to charles payne he would have bought this thing. nordstrom, strong profits, brick and mortar. those were of stocks. world wrestling, w w e down huge this morning, you got to tell me what is going on. >> look at that. almost half of the value being wiped out from the stocks of the number on that, $700 million of market value. did reach a deal with nbc
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university delays universal to keep monday night law and friday night's smacked down. those are tremendous viewers, 38 million people watched this year but the terms of the deal were not pleasing to shareholders. stock is big time, and visibility in this. the online video channel in february, people are not optimistic. stuart: after the stock, down by 40%. thanks very much. the billionaires' are buying and selling and going public with what they have been doing. warren berkshire hathaway, a bigger stake and the stock is up 2.5%. david tepper has bought facebook, price line and expedia and added to his stake in google. stocks are down, tepper's statements are not having an
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effect. david einhorn and leon cooperman have gotten out of their stake in general motors. longtime bull says he is nervous about stocks. he says there is a big sell-off coming. first, we have tepper yesterday saying he is nervous about stocks. what does scott say? >> considering last year we were up 30% and a lot of the things we are talking about, the rustle around 10% this year, i think it is okay and could be healthy to come up over time and suddenly you wake up and 50% figuring out the market but it won't be a crash and let's stop trouble here. if you look at a defensive stand go ahead but we can prove overtime that if you try to do-it-yourself you sell the lows and by a highs. so why would they take a little defensive stand if you want to
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listen to those people. even david tepper said don't be too long. warren buffett has not said the same thing. take a little stance if that is what you feel like but if you leave it up to yourself, you -- you will sell land by high, just don't borrow trouble. stuart: i understand, thanks very much. see you next week. two companies we talk about frequently, they have multibillion dollar valuations. is it for real? the taxi apps has a funding operation going on. that operation values that can billion dollars. this is a taxi apps and p interest started at $5 billion. fox and friends post clean morris, the tech guru is with us now. i want to focus on pinterest which we describe as an online bulletin board and a guest said their pretty good because they
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bring you a visual. a visual comes at you. like we are going to show a picture in a second worth $5 billion. >> i'm a little surprised is that low. it might seem shocking but these are the evaluations we have seen from what's app and some of the other companies like snap chat. here is an institution that everyone in the neighborhood is using to plan birthday parties. their entire birthday party was planned on theinterest. stuart: our producer's wife put these cupcakes on theinterest and people look at that graphic and have a link to a menu as to how to make it. this is where $5 billion? >> if you are bridal store in downtown community and not on peakinterest you are leaving thousands of dollars on the table because it is bridal
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season, planning their entire wedding on peteinterest from table designs to curtains to bans to the layout, dresses and when you tie into a local bridal community that link goes right to the individuals for. i have a photographer who is one of the best photographers in the world is said the majority of prints he sells come through pinterest that he has a million followers, one of the leading people, so many people see his beautiful photograph click through and purchase. stuart: attacks the apps, a big disruptive. >> in san francisco and 2:00 in the morning i have been out doing live shots you cannot find a cab to save your life but since it launched there are now cabs in hotels because it is the disruption. is a place where the four was terrible. if i was in philadelphia and wanted to call a cab to go to the airport e-mail may not have the cab show up at your door.
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there was no incentive for them to be -- provide value to their customers. buber comes along, the cab driver, you know they are on time and have a clean fresh selling cab fare and they're going to be there when they say you are and i can vote them aboard down as a user. is a disruptive and cab companies have to respond. they are furious about it. stuart: it is worth more than staples or best buy. >> staples last night, no joke, i was in stable last leg, you could see a tumbleweed rolling through. who is in there buying overpriced stables anymore and staplers? stuart: i am not sold on this but you have gone all little way toward convincing me they're worth billions of dollars. >> i will take that as a small victory. stuart: thanks very much. pfizer stock has been halting. news pending, don't know what that news is. i have not seen that broken yet
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but it is unusual when you get a stock of this size to be halted like this. remember please it is in talks, trying to talk to astrazeneca about not $100 billion merger. maybe the toxin gone somewhere. the stock price, i have a cough, general motors, look at this. the announcement from the department of transportation, gm agreed to pay $35 million for delays in reporting the ignition switch problem, that led to 13 deaths. not a buried big fine by any means, it is and stable at 35. rich edson is in washington with more on this. i am looking at this as bad p.r. for general motors and not much more. >> $35 million, if you look at the way it is set up, bad news
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for them every few weeks because there are congressional investigations, and regulators looking into it, and agreed to a situation with gm and a lot more money, a steady stream of negative news. how much does it hurt the company, look at the sales from last month they were out 7% year over year, gm is making the argument, guilty of false this. technically that is right but a lot of the same people working at the company from the last decade as there are now land as it stands, there with the rest of the auto industry doing fairly well since this mess came out. stuart: bad pr is what it is. rich edson, thank you very much. we previously brought you the story of people blackmailing hotels with the threat of writing a bad review. we will give you a bad review, an upgrade or free breakfast or something. the man with us who hopes to
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have found a way around this problem of negative reviews and recurring negative reviews. travels to have senior editor. let me straighten this out. travel zoo, go on line and find you. >> i've put them on the site, and different products. stuart: when you are setting deals. and the travel industry and hotel lodging, negative reviews. and the blackmailing of hotels. the you have a way around that? >> personal reviews are very relevant. and heavily dependent on just user reviews with a grain of salt. we have been around, i
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year-and-a-half, by voucher deals. and the purchasing deals on that vacation. then we allow you to write a review, good or bad and posted it, we will actually posted. stuart: the key point is you have to have purchased the deal and used the dealings you can write a review good, bad or otherwise. stuart: it is fair to the consumers. >> it is a legitimate way of analyzing the deal we put out there and having the consumer test it. it is fair to the properties as well. our favorable reviews in 2014, 91%. why such a high number? yes the heavy hand on the front end. we researched them and a chicago office in london office literally 9-5 monday through friday people booking these deals so we are read flagging issues. going back to our partners in hotels and airlines and vacation
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companies, having them fix them, we are minimizing out of the gate issues that might pop up and 9% of issues that we can tackle and actually connect clients with these bad reviews in an effort to see if we can fix it. stuart: is it i am going to london, give me a deal. with deals that you got? you pop up those deals too? you have gone through those deals. >> on air fare a bit more volatile, happening on a daily basis. some are london fares in new york and 1500, they are up this summer because of demand. vacation packages and entertainment deals, we have not only feted them and researched them but we are spending as employees our hard-earned dollars going on these vacation ourselves coming back and writing internal reviews. stuart: when you got to go out and take these vacation
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packages. stuart: it means you are working on the weekends. guarantees the quality of the products, 7 million subscribers worldwide because of the fact that we are finicky about the quality of the product. of the one with we are following a breaking story. pfizer's stock, shares have been halted. we are waiting to hear why. we will have a report from the stock exchange coming up, pfizer has it. what is worth more? this norman rockwell painting or fox and friends host of brian kilmeade, world renowned author, both are here on set after this break. (mother vo) when i was pregnant
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stuart: following breaking news on pfizer, stock is halted and now we know why. is not because of the merger talks with astrazeneca but a drug, news on a drug. what is that news?
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>> right where pfizer trades, the stock should be halted for three more minutes. two more minutes at this point. we halt it at 1204. pfizer submitted a new drug application with the fda and that is expected to happen in the third quarter of this year. stuart: we have a banner across the bottom of the screen that says the new breast cancer drug has not been approved in any market. i take that as a significant negative. stuart: has not been approved in any market. stuart: we will bring it to you when it comes back to trading again. stuart: totally different subject. donald sterling is fighting back against the nba's fine for those racist remarks. the nba executive vice president claims he did not violate the nba's constitution. brian kilmeade is with us right now. this is a huge problem.
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>> on another network, viewed an alleged him that donald sterling actually went to on a regular basis to prove he is not racist but most of the women he requested were african-american. he goes on and gives an embarrassing three pars interview to can maker, anderson cooper at which time he apologized that he was wrong, don't penalize me for one mistake and we like to find and find not only has he not given up the team more written the $2.5 billion check. stuart: lebron james as i understand it, at the start of next season they will do a walkout if he is still running the clippers. that is the huge pr nightmare. >> contractually i don't think anybody wants to play in the clippers so why not come to die in the heat, doc rivers, one of the most and of guys in the league says i am out even though he's the executive. the team might say i am not
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playing. this is unprecedented. i understand it going to the nba is a vote the board of governors which are the owners and they can kick the franchise, liquidated, not to take his money but take a franchise. like anything else is not food. stuart: he is a rich guy, he will lawyer up. they will hold it up forever. if you wants to eat and do that. >> his wife brought a good point. if i own this, if mark cuban or another owner had the team and their wife said something that was not right would they take the team way? most likely not. she says i'm a 50% owner in the team and getting divorced from ciskei. why can't i get 50%? he has said as much today, don't let my wife paid a price for my dumb comment. stuart: that is a mess. >> the clippers are out and focusing off the field. don't get mad at me. i am just telling you the story. stuart: i am not mad. >> you look a little mad.
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stuart: once you are on this that i can't get you off this set. you were with us 45 minutes. >> i guess not with that attitude. i could storm out of here if i knew where the door was. stuart: as pfizer reopened? >> it has resumed trading.% stuart: we are told their breast cancer drug has not been approved in a market. it has resumed trading i imagine with that kind of news was going to go down. it is not. it is up $0.30. is that accurate? i got that one wrong. not approved in any market, breast cancer drug and the stock goes up a little bit when it resumes trading. we will have more on this in a moment. something completely different, brian kilmeade is still here. tuesday night, big night for chris christie's auction house, and $45 million of contemporary art in one night, the highest total forcing locks never. here is doug wouldam, he has
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brought with him, this is not contemporary. >> american. what could be more american. stuart: that is the rookie by norman rockwell. you are auctioning this off. >> on thursday night. and iconic painting that combines baseball and norman rockwell. can't be more american than that. stuart: 20 to $30 million, norman rockwell classic. just the other night you sold a picture of two boxes, one black, one white. i am very sorry, $85 million. would you pay $20 million or $30 million for that one? >> i didn't know i was still on. what i pay that? yes. i am going to make an offer, all little embarrassing. i was going to make an offer but don't know how high my amex goes up to. >> we must talk after this.
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stuart: i want to show picture of thomas moran's grand canyon, another piece of american art, you are looking 8 to 12 million, a beautiful picture. >> painted in 1904. he spent a lot of time in the american west in the late 1800'ss drawing sketches before color photography and painted these majestic sublime scenes for the grand canyon. stuart: return to my theme, $745 million in one night for contemporary parts but much lower prices for these classics, norman rockwell classic. explain yourself. >> nor rockwell, the highest painting sold by norman rockwell went for $47 million so he has high price point objects that cell and his paintings in the private market regularly sell for $10 million or above. the reason that is the case is there's a global awareness of floorman rockwell. not only are there collectors in the u.s. or interested in norman
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rockwell but because he is such an iconic american figure international collectors who may want to own a piece. stuart: asian buyers bid for contemporary art. our asian buyers snapping up a norman rockwell? >> there is interest in this. we took this -- baseball in japan. stuart: when is the auction of this painting? >> thursday during the day. stuart: christie's in new york city but you conjoin the bidding by telephone. >> telephone, online and we love to have your visitors, it goes on view tomorrow. we welcome everybody to christie's to look at these two paintings. stuart: thanks so much. i apologize to brian kilmeade. make a bid. he bit slow. >> who is this rockwell guy? stuart: my take on the five year experiment of the obama administration's all government all the time, my judgment on
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without negotiation. thank you! happy memorial day wkend!
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statement we are not more fair or more prosperous. government doesn't do things well. it is inefficient, bureaucratize, it can't perform. look no further than those obamacare exchanges. next, government is politicized, bureaucrats dance to a political soon and that does not make for a dynamic can-do attitude. in the case of los lerner and the irs the bureaucrats were blatantly political and grossly unfair. third president obama is a very poor manager of the government he runs. remember all the wasteful spending in the stimulus plan? the disgraceful treatment of veterans now and how can we forget the deceit and profit performance of the obamacare debacle. he has turned america into a vast dmv. the president's all government approach was an experiment and
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it has failed and we know it. the latest fox news poll shows a distrust of the president's creation. would you generally trust the federal government? six out of ten said no.
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stuart: garden homes red lobster selling it to a private equity firm. are they getting them to billion dollars in cash? how about that? shares of pricing website true car began trading today up 17%. rack space to explore possible sale of the company, one of those cloud storage companies, you rent them to store your stuff in the cloud, may be taking over 20% on that suggestion. the international soccer governing authority, their president is admitting that awarding that the 2020 cup was a mistake. he believes holding the world cup will expose the player to extreme heat conditions. brian kilmeade still with us. this is a big deal because this is the world cup, the guy who
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runs international soccer says i am too hot, you can't do this, what do they propose? >> don't deny you said was a mistake. everyone makes mistakes in liff, the technical report said clearly it was too hot but the executive committee with a large majority said all the same to play the cutter. don't deny you said it. we proved in '94 when america was barely paying attention without m.l.s. that we could host the world cup. huge profits, to launch the mls and put seed money across the country. we want to expand to the middle east but there has got to be an investigation as to how they got it in 2022 because this will make the olympic scandal that mitt romney took over look like small potatoes instead. stuart: the implication is they paid somebody to get it to come to the middle of the desert. >> why would you want to go as a tourist in the summer alone play
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soccer at 120 degrees? you will move this from the summer tournament to a fall tournament. will that build a bunch of terrariums to protect the players? is it part of the world cup the elements? the want to see this windy, rainy, play in a certain part of a company that these challenges, the u.s. is going to evidently, i don't know brazil's topography like i should, but in the most brutal group, and spread across brazil. it is hard to get the distance but that is all a part of winning the world cup. you got to overcome these things. stuart: if america advances beyond its group, early stages of the world cup, that is accused deal for americans, for soccer in america. >> i will say something if you bring this back. if you say in your tsr, your scheme, employes to do some things special, doing a final round of exhibitions will catch
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up a little bit, and bring some color to it. this is a talented squad, talented coach, they will do something. stuart: he is coach of the u.s. team. >> i would not be surprised for stuart varney to call brian kilmeade's people and say i need you down here but the quarterfinals, got to break down. stuart: i would not be surprised at that. >> you are pulling for it. britain plays the u.s.. were you pulling for? stuart: england plays for the u.s.. thank you very much. they're killing me. do you want me to leave? two bombshells this week directly linking the irs scandal to washington. digital watch obtain documents that the ira's targeting was overseen by d.c. and also obtained were letters cents to the then irs commissioner doug schoen and lois lerner revealing democrats senator carl levin repeatedly pressured the irs go after those conservatives. listen to monica crowley sound off on this program.
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>> the fact that outside group judicial watch, and to get these irs e-mails as well as the benghazi e-mails tell you a lot about this administration, they continue to stonewall and lie about what actually happened particularly with the irs and you need outside groups to help congress because this administration is not cooperating. stuart: joining us right now, the president of truethevote, one of the groups targeted by the irs. do you want to see lois lerner in an orange jumpsuit being let off to prison? i ask that question because that will be a very harsh punishment for her. do you want to see that? >> i want to see her prosecuted to the fullest extent of the law but make no mistake. lois lerner is not known in this collusion we see across many
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government entities. stuart: it has been linked to headquarters, not just a bunch of rogue agents in cincinnati but the district of columbia, to headquarters. that is something of a breakthrough because that is proof that lois lerner was not telling you the truth. >> and number of us that have been under audit under investigation circulating for three years. trying to get people to take notice. the next layer that needs to be pulled back is looking how interagency is have colluded because in my case alone i dealt not just with the irs but the fbi and the bureau of alcohol and tobacco and firearms, many more stories to be told. stuart: they all came after you? osha, fbi and the string of others came after your organization? >> in a three year period, directed toward nonprofit organization or to me personally, i dealt with
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government agencies and if we have an opportunity to get to the bottom of this we will see that there was interagency collusion with the expectation to intimidate and target those that this administration wanted to silence. stuart: as of right now have you been made whole? are you through it? >> no. we are still in a lawsuit with the irs, we are suing a long with the lengthy cast of characters, still have a lot of explaining to do for their actions. stuart: true the vote. sorry we had little time for you but you have an important story to tell. thank you. in the world's largest ever democratic election in history socialism defeated. that is part of the real halftime report which is next. [ indistinct shouting ]
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>> comcast announced data cast for all its customers expected to rollout within five years. the usage based filling will charge people for going over there day limit. comcast has 20 million broadband customers and to purchase time warner cable. comcast taking a look at the moment down 1%. chipotle at 7% shareholders
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voted against chipotle. last year alone the two co ceos combined $50 million. the company takes the vote seriously but it is non-binding. to put the shares right now trading down 1/2%. stay right there. the real halftime is going to be starting with "varney and company". watch out, ladies and gentlemen. we will be right back. (mother vo) when i was pregnant...
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stuart: here we go with the real halftime report lauren simonetti, john wayfield joining us from bermuda, cheryl casone, brian kilmeade, both still here. first billionaire david tepper is nervous about america and long-term bull, has a sick feeling about stocks. i put it to you are you concerned? >> i am concerned the same way david tepper is concerned. he is not shorting stocks, not going extremely wrong. ratcheting up 130% like a lot of hedge funds do. he is worried about the ecb, quantitative easing coming up, i agree with david tepper. stuart: other stuff on our plate including this. the big name you know, j.c. penney is a big today, reported strong sales. don't count them out yet. >> don't count them out yet, the
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best way to put it. they are breathing some life, positive for the first time in 30 months, same-store sales rose 6% but this should alleviate some concern that maybe there would be a bankruptcy filing for j.c. penney. stuart: this is for you. world wrestling, w w e down huge this morning. want to tell me why? >> contacting for 20 years and i own the stock and i bought some more stock this morning. they just signed a new deal with nbc-tv for all their properties and several international deals, they were good deals, the market talking about more than what they have got. it was a seismic shift shifting away from pay-per-view. and the stock that transition period, and --
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stuart: ensure is. the win for private enterprise in india at. for the first time in an overwhelming turnout. there is a situation in india where the infrastructure with all the potential and innovation, the innovation on part of the family of lease democracies. my one worry about this election is the expectations will be so high to rebuild infrastructure and everything global, an unrealistic pace, people say i told you so, much like people fought with barack obama he is going to change everything around the world will be a better place than the sun will no longer set and will stay up all day and no longer need rests. stuart: on principle socialism out in india, private enterprise, that is a huge win for capitalism and the way you slice it. 10 seconds for you. >> i agree because you are betting on the people over the
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system, they are as productive as any and they answer most of my phone calls and have a question with any of them. they know what i am talking about. sounds like they are next door. i am really convinced. stuart: moving swiftly along. $25 million that was the fine at general motors. that is bad pr. >> this will hurt sales. unlike what happened with toyota it didn't hurt sales but it will hurt gm because we bailed the mouth. now they messed up again and reported deaths over this issue, very bad news. stuart: a $35 million fine is a drop in the bucket for general motors. >> they have $30 billion sitting in cash and reserves. nothing to general motors, the pr is a bigger deal land yet sales are going to be hurt and last night they got out of gm. warren buffett reduced, and
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einhorn said he cashed out completely. what does that tell you. stuart: bulletin board pinterest valued at $5 million and attack the apps who were valued at $10 billion. are they worth it? >> like buying an elephant for a quarter and if you have a core you wanted elephant. so much cash on balance sheets for people like google and other big tech companies, probably has a new way of explore and search combined and something different from what google has, by selling the company. stuart: that is it for today's real halftime report. we thank you one and all, everyone, thanks a lot. check this out, a 3d printing can. we have got one. it is year in the studio and you will see after this.
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stuart: in the background you may hear a faint buzzing sound. that is the sound of the 3d printing pen. it is in operation right here in
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the studio. the gentleman running it is mr. pogue. name of the company? >> it is called wabble works. stuart: keep going to. he is printing something as we speak using the 3d printing pan which is essentially a device that melts plastic and you can draw things and it comes out in 3d. he is drawing a little square right now. >> making a little cube quickly. stuart: how much the proposed to charge? >> runs for $99, we have 25 strands and a 10-1 ratio. stuart: for $100. and off i go. >> 5,000 inches of doodling.
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stuart: 3d do bling. >> you can get one right now. >> my company. stuart: you own it 100%. >> i own half of it and peter dillard who is a partner. stuart: how many have you sold? >> 55,000 units. stuart: you have sold 55,000 units to date at a cost of $100 each, gross revenue in the neighborhood of? have a million dollars. what is your margin? [laughter] >> a decent margin. stuart: when you walked away with a quarter million dollars clean out of the deal so far? >> sure. stuart: more than that? >> possibly. if stuart: for sure you have. >> it is a huge cube. stuart: cuba's all over the world. >> we have a great community producing thousands, making stencils on line. stuart: this is the 3 doodle
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awful tower--eiffel tower. >> you kill the pieces of paper and join the pieces together. you can use it to fix things. my classes here -- >> i knew it was the basic deal. >> you can do will fabric, this peels off. stuart: who is giving this? >> parents buying it for their kids? >> it has a hot tip so we don't recommend it for every kid. we have a lot of architects and fine artists, teachers are using it. stuart: that is interesting. >> your time is up. stuart: when you just have a pretty good commercial lot of this. >> i am not sure, i am sure it will leave one behind. stuart: thank you, brian kilby comes on "varney and company" and makes a bold predictions. that is next. memorial day weekend?
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i believe that they have the team poised to do something special. they will be coming here to do a special round of expectations. they will do something. stuart: the coach of the u.s. team. >> yes. i need you down here because the u.s. is in the quarterfinals and you are the only guy to break it down. what is your prediction? >> i do have a sense that there will be a european winner that is germany. stuart: can we just show that video of brian this morning with
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elisabeth? >> what are they wearing? >> i am a journalist. i want to keep my journalistic integrity in the morning. stuart: time is up. brian, it was fun. deirdre bolton, please, take this. deirdre: i was really impressed, stuart. hats off to everybody who participated. we are going to give you alternative ways to invest your money beyond stocks and bonds. numerous high-profile hedge fund managers a different tone for private social scrap booking site pinterest. investors think it is worth $5 billion. i will get the stocks and valuation and the chances of pinterest t


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