i am charles payne in for neil cavuto. $18 billion budget hole forced to declare bankruptcy trying to get creditors to take a fraction to walk away also helps you deal with the pension problems but it is trying to get every penny it can in refusing to back down in the big reason meniscus says it is in this position in the first place but we could forecast this a couple years ago. >> and interesting development we're not sure what is going on with the bankruptcy. it looks like being mean violate to michigan state law which it is a sad day when one of the greatest cities once called paris of the midwest forced into bankruptcy but also gave help maybe it could get on financial footing but it is all up in the air and once again because of a lawsuit. charles: like greece greece, portugal, spain that does not necessarily make the problem go away. >> it is like a new plan and rebuilding is spend $100 million more than it check-in. what did they think it would have been? the population decline dramatically since 2000, 40,000 buildings standing empty. half of the traffic lights in the city don

watch charles payne's special, "making your market," that's tonight at 8 p.m. eastern, tune in. it will be awesome. >> how can you not love him? melissa: the "willis report" is next. dennis: i'm dennis kneale in for gerri willis. is america the land of inequal opportunity as president obama proclaims? he says that's holding the economy back, and i'll set the president straight. also, this guy's been call the al capone of wall street, and, today, the feds took him down, or the firm, but does the federal government have a solid case against steve cohen, or is it a witch hunt? who is next to fall? consumer reports rates the chevy impala the best sedan of 2014, the first time an american-made car got that distinction in 20 years. consumer reports is here to say what's hot about this hot rod. all that and

i see many successful blacks who are businessmen like charles payne who has an investment company and i just wondered why so many blacks keep supporting politicians who keep them in poverty. the republicans have tried to get vouchers and laws for school so that kids can go to a school of their choice and yet it's always killed by the democrats essentially. i think they keep them just comfortable enough in their poverty so they don't work hard to try to get out of it. and -- >> host: sharon, are you white? >> caller: yes, i am. >> host: let's get an answer from professor griffin. >> guest: thank you so much for your question, sharon. i don't know that i agree with you that african-americans vote for politicians that keep them in poverty. nor do i believe that they vote for politicians to give them just enough so that they don't work hard. i would have to disagree with your narrative. i know too many hard-working african-americans to say that would be the case and that i think they vote for politicians that act in their best interest. perhaps the school voucher issue aside, when they lo

liz: your fund is the royce investment fund, lumber liquidator which, by the way, charles payne just an hour and a half ago mentioned this name. he has been on this stock for a long time, but what do you like about names like zumiez, mueller water, these are names you've had in the fund and have other characteristics. >> lumber we sold out of, something like zumiez or mueller water, at the beginning it's always the same. we're looking for good statistics, value for a valid fund which means it's cheap because something's wrong. liz: to be clear, you're out of lumber liquidators now. >> right. we have a bet going the other way. liz: what made you sell? >> we begin selling when things approach a value that is no longer representative of what we call a value stock. so it's sort of reached a normalized earnings level and the market is discounting the good news, we're going to tend to start to walk out of that and go find the next zumiez or mueller water. liz: we do have some of the next and the next, cheap price to sales valuation and, of course, the third element, and you guys have to he

payne, mercedes colwin. tony sayegh, who we love buu we couldn't fit you on the set. >> what is about that? cold in siberia. >> i know, i know. maybe i will let you go first. what i loved about this, is for example, when men were asked, are you the primary financial decisionmaker, 69% of them said yes but only 13% of their spouses agreed with them. there is a little bit of a disconnect there. we see this time and again in this study. are you in charge of the making the decision. the person said yes, and the spouse said, i don't think so. tony what do you think about that, are you in charge? >> melissa, my wife and i make every decision 50/50. melissa: come on. get off the set! melissa: give me a break. >> my name is not tony. it is ward cleaver. we're the perfect american family. these statistics that come out of the poll do not shock me at all. i think there is natural oppositional relationship between spouses. when the husband thinks something, the wife thinks the opposite. when the wife thinks something t

good morning, everyone, i'm charles payne, stuart is to be back tomorrow, but the story today we could have a rally when the markets open. and this week see what's pushing stocks higher, corporate earnings or ben bernanke. and forget friday's report, we have stunning numbers on how many americans are working part-time and how many numbers are working two jobs or more and we're keeping an eye on the chaos in egypt. a deadly protest and the military gets 20% of its funding from you and me the american taxpayer. buckle up, "varney & company" is about to begin. we route your order to up to 75 market centers to look for the best possible price -- maybe ev better than you expected. it's all part of our goal to execute your trade in one second. i'm derrick chan of fidelity investments. our one-second trade execution is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >> more chaos in cairo. at least 40 people are dead and hundreds injured after clashes between supporters of former president mohammed morsi and the military. p

. ♪ dennis: time to make a little money with charles payne. charles: cf industries. this is more of a longer-term play. you have your old argument. population growth around the world every year. they are getting richer and they want high-protein diets. it seems like a slam dunk, but it is not always a slam dunk. corn is the main user of their fertilizer. corn prices have gone up really nicely. natural gas prices, 70% of the cost comes from net gas. that is a wonderful scenario. what we saw, of course, demand goes up and down. i think that gas prices will hold up pretty well. it has a pe under eight. if you look at any traditional evaluations metrics, this stock screens. i like where it is in terms of value. cheryl: 1077 a share. that is a pretty expensive stock. charles: i find almost every stock, stocks under ten are typically expensive. the share price does not mean anything. i am glad you brought it up. people would rather buy a hot one dollar stock. the risk, people do have to eat. the stock moves up and down. you will not lose all of your money where a cheap sto

payne in for stuart. this is a big week for the economy, we've got big numbers all week long ending of course with the jobs report on friday and investigators are going to be watching and reacting. that means your 401(k) is in play. stocks look to rebound this morning and of course, also watching day two of protests in egypt. not thousands, but millions in the street two years after they ousted mubarak and now they're furious at mohammad morsi. oh, here is your obama head scratcher today. liberians recruit today sell obamacare. "varney & company," we're about to begin. . stuart:. well, we woke up to just a horrible story out of arizona this morning where a fast moving wildfire killed 19 firefighters. investigators say lightning sparked the fire that destroyed at least 200 homes and forced hundreds of residents to evacuate. now to egypt. country wide demonstrations there enter their second day, we're told that millions of protesters demanding the resignation of mohammad morsi. they stormed the muslim broth

. ♪ adam: it is time to make money with charles payne. charles, you recommended this talk last summer. charles: last june 209, the first time at $33. it was at a 5252 week high. they report tomorrow. here are the things that i like. absolutely phenomenal. the last quarter that they reported, i think was a serious business and function. they were down 1.8%. you never see this in retail. the older stores are starting to pick it up. i love management's attitude. this is what he said. aggressively pursuing the market. we will use advertising, more advertising. we will expand our market. lori: how sensitive is the company to lumber prices? >> i think lumber prices being down does not hurt them. right now, i think because lumber prices have come down so sharply, it may not hurt them. adam: what we start to see some of these prices go up? charles: on average, six months -- in other words, i think it will spark more demand. i see a win-win. you will see demand for more building. as they become even more confident, and you know, they get real conf

i put my name in, turns out my pseudonym is charles payne. stuart: do you have anything to say on facebook? >> the mobile ads are doing better than they thought. literally all i know about it. i'm not even on facebook. stuart: why? >> it is just not my thing. i am pretty active on twitter. i was at lisa and i decided to take a little break because people are stupid. stuart: what kind of messages would you get in the middle of the night? >> "redeye" is usually a trending topic while it is on. stuart: staying with us respond to president obama's speech. what can we find that was funny about that? and here's the story he was laughing about last night. paying women to put ads on their thighs. after this, we will be back. clients are always learning more to make their money do more. (ann) to help me plan my next move, i take scottrade's free, -branch seminars... plus, thr live webinars. i use daily market commentary to improve my strategy. and my local scottrade office guides my learning every step of the way. because they know i don't trade like

here is charles payne. come on, help me out. you are going to buy microsoft-32. charles: i don't think steve ballmer would buy microsoft at 32. stuart: is that the best i can do? charles: they have been pc centric, same with intel earlier this week, got to turn this should. like the big giant oil tanker in the middle of the ocean that can turn fast enough. stuart: google if dollars and $0.80 a share. charles: they missed two quarters in a row. it is a great platform and a great company but there's no urgency to buy it. stuart: 100 degrees in new york city, the sun is shining, a beautiful summer day and you are negative on two big stocks. you know what? if we were to put microsoft on death watch. no laughing matter here. we are going to washington. more details in the irs scandal. house testimony revealing a white house appointee, political appointee, a irs chief counsel was involved in targeting tea party and conservative groups. monica crowley is here on fat. i am saying that goes right up the food chain and a direct link politically to political intimidation. i

>>alisyn: charles payne joins us now. people go to their public libraries for information, clamoring for information about how their health care is going to change. they don't really understand obamacare. the libraries make more sense than celebrities; rights? >> maybe they have more credibility as an intellectual group as celebrities. in some ways it's probably as troublesome or you could even say despicable. in their release they say 28 million people go to the libraries a year to learn about health care information via computers, et cetera. it is one thing to say you can come to the library to look things up. it is another thing for the libraries to promote this health care law. everything we're seeing has seem to be targeting young people. very young people, whether it's trying to woo athletes, woo a librarian, celebrities. it's all about can we influence them? the younger the better. this is the kind of propaganda machine we haven't seen for a long time. >>eric: this is a good reason. they need for obamacare not to i

they all know charles payne, and it really annoys me. >> mentioning the british guy. >> well, if i'm standing there. >> oh, let me tell you, costco, in there the other day, and a couple comes by, all excited, we talk, and they say varney shops here? no, the prices are too high. they fell on the floor laughing. >> good job, charles. watch out president obama, even the left is coming after you. wages dropping nearly 3% since he took office. we'll deal with that next. any last requests mr. baldwin? you mind grabbing my phone and opening the capital one purchase eraser? i need to redeem some venture miles before my demise. okay. it's easy to erase any recent travel expense i want. just pick that flight right there. mmm hmmm. give it a few taps, and...it's taken care of. this is pretty easy, and i see it works on hotels too. you bet. now if you like that, press the red buon on top. ♪ how did he not see that coming? what's in your wallet? with fidelity's options platform, we've completely integrated every step of the process, making it easier to try filters and strategies... to get a lis

stuart: i think what you just said is music to my colleague charles payne's years because we have been backwards and forwards on this. i say this recent rally as a result of ben bernanke keeping on printing and you say because american corporations are the place to be to make money. charles: let me tell you i do believe ben bernanke factor will happen but the so-called velocity of money is not main street. at some point that is affected too but then we will be talking out 16,500. this is the most underpublicized rally in history, there was the ticker tape parade, cabdrivers are not stopping at red lights, nobody cares. the few people that are paying attention he the rally. this is amazing. when everybody loves it than i am getting out. stuart: i have some big winners to report for you. we are up 15, 14 points on the dow but we have some big tech winners. start with google please. nicole: google, a new high, you can see it pulled back a little bit, all time high for google. stuart: how about netflix? nicole: $2.52 and change, 3.5% today and the analysts jumping on board and uping their

the dow jones average up 77, and now let me tell you that charles payne says he's going to make us money. he likes cypress seem -- semiconductor. >> it's breaking out here, it's the keep you want. it's higher. this year, and, of course, years ago, love what the company's doing. new products, also, they have a book to build the shows up at the time, the lead time down to a five year low. the company, the execution, so much more nimble than before, giving them the confidence to give gyps for the next quarter. i think we are at an inflection point. look at the key metrics, top line, growth margins, income, big, big jumps from the previous quarter. not year over year, but the previous quarter. inflexion point. >> trying to remember the gentleman who runs the company, and maybe -- t.j. rogers, that's right. good. >> i know everything. >> we're all libertarians. >> every libertarian, that's right. i like the guy too. love the stock? >> easy 15, but higher. >> we brought you this number earlier, only 47% of those americans think that the u.s. will be able to keep its status as a world superpowe

. >> welcome to the second hour, and i'm charles payne, and for better or worse, obamacare was supposed to change america, but now obamacare's changes a big provision until 2012, -- 20 # 15, and for now it looks like a victory for small businesses. morsi not backing down. on monday, the military gave morsi 48 hours to accommodate with the power sharing agreement or be ousted leaving him less than a couple hours to meet the military's demand. another lesson from the losers of europe. forget austerity. they are giving up. the as a result, interest rates are spiking, and more could happen to us from across the pond. ♪ now with the administration's decision to delay obamacare, it could be a small victory for small businesses. we'll find out now. joining us, the national federation of independent businesses, and, bill, say something of a victory lap on this because your organization, you guys pushed hard for this. >> we did, and, in fact, took it to the supreme court to fix it there, but didn't make it. here we are now, and, you know, it's not surprise what's going on. look at the big pict

charles payne has an idea. next. >>brian: did you see jimmy kimmel last night? we'll guarantee you'll never see anything like this. we'll show you what happened. (ann) to help me plan my next move, i take scottrade's free, in-branch seminars... plus, their live webinars. i use daily market commentary to improve my strategy. and my local scottrade office guides my learning every step of the way. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade... ranked "highest in customer loyalty for brokerage and investment companies." using night-vision goggles to keep an eye on my spicy buffalo wheat thins. who's gonna take your wheat thins? i don't know. an intruder, the dog, bigfoot. could you get the light? [ loud crash ] what is going on?! honey, i was close! it's a yeti! [ male announcer ] must! have! wheat thins! when you experience something great, you want to share it. with everyone. that's why more customers recommend verizon, america's largest 4g lte network. >> a chicago cop arrested four times in the past

charles payne also fantastic. he was third place in the contest. he kicked off the entire thing. he had the guts to get up there first. you may remember our own clayton morris won the contest himself last year and he'll be joining us 30 minutes from now. it was amazing, guys. here is the program right here. it was amazing. dr. manny was supposed to be this but couldn't show up at the last minute. i'll tell you something, it takes guts to get on that stage and try to become the funniest reporter. >>brian: this was at the comic strip. >>gretchen: you should do it. >>brian: they don't pay enough. >>gretchen: they don't pay anything. no guts, no glory. >>steve: janice dean, congratulations. >>brian: will we get clips? >>gretchen: she did the top ten weather terms to music. that has a certain, how should i explain it? >>brian: that's not appropriate -- >>gretchen: it's not. hilarious. a lot to do with heat. >>brian: meanwhile straight ahead, the president's comments on the george zimmerman verdict on friday bringing race back into the debate. >> trayvon martin could have been me 35 ye

time to make money with charles payne. he is looking at the self-service industry with coinstar. this is follow up from the beginning of june. how did we do, charles? >> doing okay. put it on at 57. doing 60. not bad for one month. croatia is joining e.u. if i'm greece that gives me a little bit of leverage. ashley: croats will not be happy with that comment. >> i know they won't be but golly. talk about coinstar. how do you guys feel about kiosks. lori: i love them? coinstar is so fun. >> do you really? kiosks -- lori: see all the movies? @> redbox, it is fantastic. people writing off the whole dvd business. lori: no way. cars -- >> all the -- lori: taking over your hit, sorry. >> look at best buy over the last year, look at that stock. you can't write this stuff off this soon. netflix made 113 million off dv. dids. dvds. only 31 off the streaming video. they have rubies, they will distributing seattle's best coffee out of this one. what do you think? lori: you know in new york city we, they're not really kiosks but we eat off stand in the street. ashley: you might. i don't risk

by the way, charles payne reminds us the same goldman analyst downgraded tesla when it was at 55. come on back in again, gil, you once said that tesla was the gm of the future, gm in a nice way, you liked it back then. do you like it now? >> right. well, we -- last time i was on we were buying around 100, it ran up to 133, 135 on monday and so we actually sold into the move when it couldn't hold the 121, 122 level and we achieved the short-term trading price objectives. longer term the stock is going to have to set up consolidation and it's a lot like gm in 1915, it will need to go side ways here for a period of months as i believe the fundamentals need time to catch up to the technical action right now, but i think the bloom is off the rose in tesla. >> okay. now, there are a couple of tech stocks which have had a really strong run recently and i want your opinions on them. gil. microsoft, everyone knows i own it. do you like it? >> i think the going higher. it broke out of a short consolidation, it's actually challenging the six-year high of 37.50 and starting to come out of the

charles payne joins us. give us the news. what does this mean? >> companies with 50 or more employees were facing a $2,000 per employee fine if they did not provide healthcare. so we saw restaurant and companies cutting back on the number of employees and part time. pushing this off for one year is not the solution. businesses concerned about obama-care today you are not going to hire someone tomorrow. bill: you call it a ticking time bomb. explain. >> if this part of it doesn't work, this an acknowledgment of that. they were counting on $8 billion to $10 billion to pay for the program. that won't come into play. exchanges aren't coming up. insurance companies are leaving. united healthcare left california. it will an unmitigated nightmare. it's a slow-moving train wreck and it hasn't changed. bill: in the business world -- that is your business -- this is not encouraged companies to hire, is that what you are saying? >> absolutely not. it's a dark cloud that was over our heads and we pushed it up. we can see it and there is no way you are going

charles payne is here to lend us expertise on this. good to see you. >> good to see you as well. although on a sad topic. we all saw this coming. low hanging fruit but it does bring to reality something that is probably going to be unavoidable unless a lot of the these cities, municipalities, take tough medicine right now. >> i remember, i think last year, couple of cities, san diego, san jose put this to voters to vote on whether retirement benefits should be scaled back. they voted overwhelmingly for it. i think the average american gets it. they keep a checkbook, they know how this works. but how do you cut back? >> let's face it, this is california. >> right. they know they are struggling. >> californians, saw to lessen up their own public obligations, that was a gigantic epiphany to your point. but it is just really tough. and major cities around the country, we see where these on lavish promises are made. people are leaving. there is gigantic changes. chicago has seen about 800,000 people leave. we have talked about people leaving detroit, over a million people. chicago, ph

dagen: charles payne is here. he will try to fly high. connell: a very nice play on words. charles: jim rogers is always right, eventually. dagen: he is? charles: sometimes he takes 20 years. he is amazing. i battled with jim rogers four years. he won me over. i like low-cost carrier. the stock is trading in at six pd. 0.2 peg ratio. one fifth of its sales. look at this chart. that is a beautiful chart. i think from here you get a retest to the top. ultimately, i think i see this .going into the mid- 20s. if there is any industry, it should be the airline industry. they are making money hand over fist. dagen: americans -- stock was stock equals double stock. a lot in terms of customer service. charles: virgin is amazing. they charge a lot of money. dagen: american, that is rough. connell: you on the other hand -- speaking of airlines, i would like to get on one of these airlines and go somewhere. so what edward snowden. asking for temporary asylum in russia. dagen: jim rogers. we have already talked about him quite a bit so far this hour. he is finally coming up. ♪ i'm a

ashley: time to make money with charles payne. this hour focusing on bank earnings. you know, is this, the head of all big earnings in the second quarter. we have two major banks reporting tomorrow, charles. are we expecting? what would you do? >> jpmorgan and wells fargo. start with jpmorgan. street is looking for a buck 44. just about three months they were looking for $1.38. earnings estimates are going up. they beat the street each of the last four quarters. insiders bought 7,445,000 shares. stock has a little resistance at 58. if i'm in the stock i definitely hold it and i would even consider buying this one conversely wells fargo i'm not too sure. street is looking for 93. that is where its been last three months. they beat the street each of the last three quarters, but only by low single digits. nevertheless you see the stock had a good move. if i'm in it i don't sell it. but on the downside, if there is hiccup, the downside risk will be $37 on that one. ashley: wells fargo in the mortgage industry. all the refi's that will be done probably have already been

. ♪ lori: it is time to make money with charles payne. he is making you some retail profit with the company that is my own personal playground. stocks incorporated unfortunately for my husband who gets the bill. reporter: that is right, friday stocks spike really nicely. you can see this has been in the rumor mill for a long time. stocks have taken over over a decade ago. i love to see somebody come in like a private equity, and, sort of separate back to the operations and that was their plan, they have been growing their store, and it is going pretty well. i haven't done anything with it yet, but i wanted to bring it to the audiences attention. when i do look at this, operating margins are still a problem. i think that this stock may be with or without the whole speculation something worthwhile and investing in. lori: the application is very user-friendly. but you can look at it on your smart phone, it is luxury retail. >> yes, you really do have to have this. anyway, it is interesting. sachs and tiffany is very similar. they have been d

making money with charles payne, taking a gamble on the leading suppliers of casino games. charles? >> bali buying shuffle. by the way, shuffle was in the rumor mill for five years, finally happened, leap finally happened, and multimedia games at a multihigh. big move, off the bat, up huge already, but it's not a momentum play, but a fundmental value play. the growth has been salutely phenomenal over the past five years, the next five years, out performing shuffle, and what i like is that management said the growth personal, under penetrated and most of the domestic markets. they do slot machines and other games. lori: roulette wheel, dennis' game. did he tell you how he won me $170? >> b30, black p 31, baby. lori: went into online gaming as well; right? >> multimedia games, big things, slot machines, multiplayer things, and they just got a couple contracts, illinois, michigan, nevada, ohio. i like it a lot. up big today, a breakout. you could back and fill a bit, but on the upside, the stock has potential. one to look at. gaming is not going anywhere. we love to gamble. lori: it's

charles payne is here. we have to talk markets. stocks ending with, extending their gains for a third session. what do we expect, earnings season, you name it, we've got it going on. >> we do have it going on. you know what i like, guys? i don't think we talked about it enough today. the market swoon came after ben bernanke made comments about tapering. >> yeah. >> yields have gone up. bond have gotten hit pretty hard. last week the general consensus on wall street was, okay, the tapering is coming in september. and it is going to be anywhere between 20 and $30 billion. ashley: right. >> so wednesday we opened, went down. closed near the high of the session. same thing on friday. remember we had the open. gave all the gains away. we didn't know part egypt, part jobs report. tracy: right. >> same thing, had a nice rally into the close. today we waffled a little bit. who knows, looks like we're building a head of steam. i say be careful. ing people are saying tapering the market will get hammered but watch the action of the market it

>> time to make money with charles payne, and american industries. this one back in april. >> of the worst waxings. this is down, and got hit by a train. and these are in place. the demand for these oil cards and petroleum cards, and looked at csx's numbers up 11%, and petroleum and all of that stuff. and someone who buys that, overall in the industry at least a 30,000 caught back log of specialty cars. and it is looking fantastic today, traded twice its average daily volume and it is two sings, stuff we saw from csx and the union pacific coming on the eighteenth and canadian national on the twenty-second and more word on keystone that it will be further delayed even in a best case scenario. died of the risk and we are on it and closed above 36-45, that is the key number, looking forward to getting back to the mid 40s. it has been a rough one. one of those things where you feel confident, do the work and get hammered. lori: a great markets meant to give you a shout out. we talk about these letters day after day but they are not always that way. charl

you know, over the years, over the years. >> look at charles payne. he's said this for years. go. >> i'm proud of you. >> thank you. >> there's a big debate whether fast food workers should be paid $15, you get a steppingstone, learn the work, punch a clock, be responsible, and you make the move from there. the key, though, the peer pressure part, aaron hernandez, look at what he's facing, one of the guys who came to peer pressure. what did you tell kids? that's the hard part. nobodiments -- nobody wants to let anybody down, but around the block, other guys pull you down. something to say to them that might help? >> i would have to say the thing i learned personally is, you know, being alone made my stronger. you know, mentally and physically as a man, and, you know, peer pressure's something that you can't avoid, something you go through on a day-to-day basis, but you have to be able to stand up for what you believe in, and what's right is right, and what's wrong is wrong. if you do wrong, there's consequences, you know, and like hernandez, you know, facing serious consequenc