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Oct 26, 2013
10/13
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. >> now, you bought some companies in europe. europe turned tough. still great acquisitions. explain to people how it works. you have tightened the ship in europe. wouldn't be a dollar in sales now would produce a far greater gross margin than it would have been four years ago for you? >> that would be our expectation. you're right, we have taken a lot of capacity out of our european operations. we have worked on savings. i'm proud of the work our teams have done around the world. an additional 90 million of productivity savings. i think all that says is that we're a business that is really very tight in terms of our expense, resource and capital deployment. this increase get from 3% to 4% next year. we believe it could be very powerful. >> explaining the cycle of construction. you said we're seeing pretty good bidding activity ahead of us. and you're talking about 13, 14, 15. do you think it can be multiyear? >> i do. we all know residential construction is an early cycle activity. that didn't happen because we were coming out of the mortgage crisis in the u.s. it was led wi
. >> now, you bought some companies in europe. europe turned tough. still great acquisitions. explain to people how it works. you have tightened the ship in europe. wouldn't be a dollar in sales now would produce a far greater gross margin than it would have been four years ago for you? >> that would be our expectation. you're right, we have taken a lot of capacity out of our european operations. we have worked on savings. i'm proud of the work our teams have done around the world....
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Oct 22, 2013
10/13
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but the time for more europe is over. they want to be more so fest indicated about how we do it. >> more europe is the answer. >> more sophisticated about how we do it. >> that's not what jean-claude trichet says. a federalist in the european commission are still -- >> i think we have too be a bit more selective about what we do. >> i'm not saying that's what i want. i'm just saying that's -- >> i know. but i'm exciting the european cause. i have to. >> the european cause is a federal europe. they have to. julia, thank you very much. >>> the italian prime minister is coming out saying he prefers a supernatural bank. we'll keep our eyes on that. meanwhile, the green finance minister says his company is still shrinking, but at a slower rate. gdp was likely to contract by around 3% in the third quarter, easing from 3.8% in the second. improved tourist revenues were cited for the better performance. >>> wooefk hearing from mr. charlie bean this morning. we just got the latest snapshot of uk public finances. september public n
but the time for more europe is over. they want to be more so fest indicated about how we do it. >> more europe is the answer. >> more sophisticated about how we do it. >> that's not what jean-claude trichet says. a federalist in the european commission are still -- >> i think we have too be a bit more selective about what we do. >> i'm not saying that's what i want. i'm just saying that's -- >> i know. but i'm exciting the european cause. i have to. >>...
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Oct 25, 2013
10/13
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. >> now, you bought some companies in europe. europe turned tough. still great acquisitions. explain to people how it works. you have tightened the ship in europe. wouldn't be a dollar in sales now would produce a far greater gross margin than it would have been four years ago for you? >> that would be our expectation. you're right, we have taken a lot of capacity out of our european operations. we have worked on incident tkpwraeufb savings. i'm proud of the work our teams have done around the world. an additional 90 million of productivity savings. i think all that says is that we're a business that is really very tight in terms of our expense, resource and capital deployment. this increase kebgd get from 3% to 4% next year. we believe it could be very powerful. . >>> explaining the cycle of construction. you said we're seeing pretty good bidding activity ahead of us. and you're talking about 13, 14, 15. do you think it can be multiyear? >> i do. we all know residential construction is an early cycle activity. that didn't happen because we were coming out of the mortgage cri
. >> now, you bought some companies in europe. europe turned tough. still great acquisitions. explain to people how it works. you have tightened the ship in europe. wouldn't be a dollar in sales now would produce a far greater gross margin than it would have been four years ago for you? >> that would be our expectation. you're right, we have taken a lot of capacity out of our european operations. we have worked on incident tkpwraeufb savings. i'm proud of the work our teams have...
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Oct 28, 2013
10/13
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and in europe. we have put into law in this country binding climate change targets and europe looks like it's going to strengthen further from where we go which is a difficulty. i haven't looked at it. i have this wonderful app that shows how we're making our electricity hour by hour. on average 40% comes from cole but cole is being taken off the system. that means there's a likely rise that will take place on the wholesale market. it is very difficult. >> the sad thing is it is pointless if nothing is done about em carbon emissions. if we don't do something about it, all of this is for not. >> let's be very honest with our u.k. viewers here and possibly our european viewers as well. the london array, the new nuclear deal agreed with the chinese and edf as well. these are locking u.k. consumers into not only current prices but higher prices for years and years, in fact, decades to come. we're going to have much higher prices built in because eventually the government will not be able to subsidize th
and in europe. we have put into law in this country binding climate change targets and europe looks like it's going to strengthen further from where we go which is a difficulty. i haven't looked at it. i have this wonderful app that shows how we're making our electricity hour by hour. on average 40% comes from cole but cole is being taken off the system. that means there's a likely rise that will take place on the wholesale market. it is very difficult. >> the sad thing is it is pointless...
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Oct 11, 2013
10/13
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the rest of europe. germany hs a renewable share of 25%. other countries will come there eventually and then they will have the same problems that germany has td. what are they? first of all, 25% renewables to a large degree in affordable tax is very expensive. post the industry as well as consumers are under the burden of very, very high energy bills that's not sustainable in the long-term. tekdly, germany has on its own stepped out of nuclear. we think the safety issue is a political issue. i think that's nos something that energy companies can be decisive on. they just act in line with the decision. the shutdown of the power plants was done independently. there's a lot of wind and a lot of sun, if not, the borders would be opening to the neighboring countries and we would be able to push the excess electricity into the neighboring countries. if that was not the case, then the system would be dead in germany. they have initiated a lot of things. they cannot solve it on their own. they need europe. >> w
the rest of europe. germany hs a renewable share of 25%. other countries will come there eventually and then they will have the same problems that germany has td. what are they? first of all, 25% renewables to a large degree in affordable tax is very expensive. post the industry as well as consumers are under the burden of very, very high energy bills that's not sustainable in the long-term. tekdly, germany has on its own stepped out of nuclear. we think the safety issue is a political issue. i...
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Oct 30, 2013
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what we have seen in europe and western europe is the session because of the prices. so the current euro strength can be be -- in its recovery. >> so while we're here in vienna, ger heart voice is with me. thank you so much for joining us on cnbc. results were in last week. i think we saw slightly lower production numbers and an issue, i think, surrounding what's going on in libya and some of the operations in north africa. the strategy, it seems to me increasingly is for you now to move your upstream focus away from the middle east and the north african market. can you talk to us a little bit about why you've taken that decision? >> yes. omv is a fortune 500 company. as such, we have moved into downstream and now we have changed much more going into up stre stream. therefore, made decision recently to move into the -- and we have two areas in europe. one is upstream and the other one is the deep part of the black sea in romania. >> but i conclude from that that, really, you've had enough in the instability in the middle eastern region and that it's better to bring it
what we have seen in europe and western europe is the session because of the prices. so the current euro strength can be be -- in its recovery. >> so while we're here in vienna, ger heart voice is with me. thank you so much for joining us on cnbc. results were in last week. i think we saw slightly lower production numbers and an issue, i think, surrounding what's going on in libya and some of the operations in north africa. the strategy, it seems to me increasingly is for you now to move...
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Oct 29, 2013
10/13
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europe could be a healthy offset to a slowdown in the u.s. caused by, yes, our dysfunctional government. something our domestic companies won't have in their arsenal. semiconductors, software, disk drives, flash memory, you can expect many of our tech companies are going to have a similar boost. you can say the same about companies as diversified as honeywell, united technologies, emerson, dupont. we'll also most likely see the big advance in sales that so many have been waiting for. now, you know i have long held that it has been and continues to be stupid to wait for the increase in sales, because by the time it happens, these kinds of stocks will advance so far that you'll have missed the entire move. that's why i think you need to buy these stocks now on any material weakness that we get in this country, maybe a bad labor report. soft gdp report. wrong statement from the fed. and weak retail sales number. because europe, not the united states, is now the new swing factor in earnings. and given the tremendous cost cuts and the possibility
europe could be a healthy offset to a slowdown in the u.s. caused by, yes, our dysfunctional government. something our domestic companies won't have in their arsenal. semiconductors, software, disk drives, flash memory, you can expect many of our tech companies are going to have a similar boost. you can say the same about companies as diversified as honeywell, united technologies, emerson, dupont. we'll also most likely see the big advance in sales that so many have been waiting for. now, you...
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Oct 26, 2013
10/13
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we had an excellent quarter. >> we hated europe so long here we forgot europe is a big mark. a little turn could be gigantic for your earnings, couldn't it? >> we worked hard to streamline our businesses to emphasize productivity. we still had record operating earnings in europe over the first half of this year, so we're poised with any improvement in the overall economy. we think whole do even better if europe. >> where do you think that improve him is coming from? a lot of companies over there, some doing better than others. there has to be something, spain is doing better. is it every country is turning a little bit more? >> no, i would say we first saw the improve him in the u.k. you know, that's been the early indicator right now on a positive. germany has been good and i think we are seeing improvement in southern europe for the first time in several years but the other in use market that looks like it's stabilizing and getting some slight growth here in the fourth quarter is automotive oem, where actually they're projecting a modest 1.5% growth in auto bails in the fou
we had an excellent quarter. >> we hated europe so long here we forgot europe is a big mark. a little turn could be gigantic for your earnings, couldn't it? >> we worked hard to streamline our businesses to emphasize productivity. we still had record operating earnings in europe over the first half of this year, so we're poised with any improvement in the overall economy. we think whole do even better if europe. >> where do you think that improve him is coming from? a lot of...
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Oct 16, 2013
10/13
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i think europe last week was the 11th of flows into europe. but we continue to see good asset flows and you've had a generational fright in equities. they're still dramatically underowned in the world. phenomenally under owns. everywhere i go, people are worried about investing. >> stay with us. more to come from you. we've been asking is china seizing on the u.s. crisis deflects its currency muscle, can you imagine a world where the u.n. becomes the global reserve currency? pinto tweeted they certainly have the opportunity to do so, all they have to do is start spelling their $1.3 trillion of u.s. treasuries. which is a bit of a task in itself. if you want to join the conversation with us, tweet @cnbcwex or direct to me @rosswestgate. >>> still to come is that debt debate continues, it's probably over-shadowing bank of america's earnings. more from him on that in a few moments. knew all about a bike a, just by talking to a helmet. it grabbed the patient's record before we even picked him up. it found out the doctor we needed was at st. anne's
i think europe last week was the 11th of flows into europe. but we continue to see good asset flows and you've had a generational fright in equities. they're still dramatically underowned in the world. phenomenally under owns. everywhere i go, people are worried about investing. >> stay with us. more to come from you. we've been asking is china seizing on the u.s. crisis deflects its currency muscle, can you imagine a world where the u.n. becomes the global reserve currency? pinto tweeted...
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Oct 28, 2013
10/13
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the euro truly did unite europe when it came to commerce. and enticed our companies to buy and build with. and ppg, the proprietary coatings and glass company represent the cream of the crop in the respective industries and each of their managements knew that they offered superior products and therefore could take share from the locals. now if you recall, europe really didn't come out -- come down with its own version of economic flu until well after we hit the wall and their illness was magnified by not one but two interest rate hikes that crushed industries in almost every country except germany. and these three companies saw a dramatic decline which in turn hurt overall revenues because it represented over a quarter of their geographic mix. now, though, all three are seeing a noticeable stabilization in europe. using that term stabilization. and that occurred this intraquarter. yes, it is true that the ceo of avnet don't expect anything robust to come from europe any time soon but all expect 2013 to be better. combined with easy sales and
the euro truly did unite europe when it came to commerce. and enticed our companies to buy and build with. and ppg, the proprietary coatings and glass company represent the cream of the crop in the respective industries and each of their managements knew that they offered superior products and therefore could take share from the locals. now if you recall, europe really didn't come out -- come down with its own version of economic flu until well after we hit the wall and their illness was...
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Oct 24, 2013
10/13
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stoxx europe 600, flat if anything. yesterday on the close we were looking at all red screens across the board with a little bit of money coming out from our european markets. we're still right around the five-year highs give or take a bit, right? so our main european equity markets today, trading higher. the ftse higher by 0.2%. the xetra dax up by a couple of points. the cac, the color tells you we're high her. we're ready flat on the cac. the ftse mib higher, too. the fixed income markets, ten-year gilt now yielding 2.6%. the yield on the ten-year bund, 1.7%. commodities, we saw a bit of a fooling off in the price of oil as of late with oil trading below the $100 per barrel level. an interesting or important level for nymex. but currently, we're still around that level coming up from where we saw a trade settling yesterday. brent, flat to a little bit higher. and just moving on to the currency markets here, we're now looking at a flippy floppy dollar/yen. over here, the euro/dollar flat to higher, as well. very unmov
stoxx europe 600, flat if anything. yesterday on the close we were looking at all red screens across the board with a little bit of money coming out from our european markets. we're still right around the five-year highs give or take a bit, right? so our main european equity markets today, trading higher. the ftse higher by 0.2%. the xetra dax up by a couple of points. the cac, the color tells you we're high her. we're ready flat on the cac. the ftse mib higher, too. the fixed income markets,...
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Oct 21, 2013
10/13
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i think that europe is coming off a base and improving in europe. we think europe will be up going forward but probably 1 or 2% but the rest of the world i think u.s. is probably up 1%. we'll continue to see weakness in asia. >> sales percent, 1% a long way from the 5 to 7%. why has it gone wrong, particularly in asia? >> well, i think there is some choices about what mcdonald's needs to offer. i think mcdonald's is continuing to offer its big mac except i think more people in asia prefer more localized food. so i think mcdonald's has to make a decision about a strategy. should they continue to offer more of a global brand or more localize the food? i think they're trying to change the strategy trying to be more localized. i i think that's one that might help. that's a couple years in the making. second, i think they're having trouble predominantly in china because of one of the increase in food prices and also, you know, the supply of the fear of chicken. >> andrew, bring you in. mcdonald's stock hasn't done an awful lot in the last year or so. is
i think that europe is coming off a base and improving in europe. we think europe will be up going forward but probably 1 or 2% but the rest of the world i think u.s. is probably up 1%. we'll continue to see weakness in asia. >> sales percent, 1% a long way from the 5 to 7%. why has it gone wrong, particularly in asia? >> well, i think there is some choices about what mcdonald's needs to offer. i think mcdonald's is continuing to offer its big mac except i think more people in asia...
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Oct 2, 2013
10/13
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and it's in europe, i should say. those are now targeting international property investors and offering incentive programs which allow foreign investment and other things such as secure housing, secure health and maybe access to european unions. so there is certainly a greater question and greater emerging trend to be seen globally as to which countries are more proactive, which ones are more agnostic and some which want to disway international property investors. >> andrew, many thanks for being with us today. there you have it, if you're worried about a property bubble here, could be getting bigger as the chinese are able to come in. >> it's a little hong kong, right? >> no, long dong. i think you just coined something. you should trademark that quickly. >> thank you, andrew. >>> meanwhile, as china restructures the economy, we're looking at how the younger generation are geared for just that. >> gone are the days when young chinese would hand over their first paycheck to their parents. >> april nation. i think it's
and it's in europe, i should say. those are now targeting international property investors and offering incentive programs which allow foreign investment and other things such as secure housing, secure health and maybe access to european unions. so there is certainly a greater question and greater emerging trend to be seen globally as to which countries are more proactive, which ones are more agnostic and some which want to disway international property investors. >> andrew, many thanks...
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Oct 2, 2013
10/13
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who is looking better these days, europe? sure it's got stains, a little dented around the edges but without dysfunction. europe starting to look like the cleanest shirt in the global laundry bag. one of the best ways to play europe for the u.s. investor. our next guest thinks the three are your best bet. amazon, tech 2 and goldman sachs. let's bring in clem. let us start with amazon and why is this a good european play? >> basically amazon is wiping out a lot of retail in europe. they're absolutely tearing it up and well in europe. everybody's buying from amazon. it's as success in europe as in america. you're getting retail exposure, large with amazon. a glory stock in the u.s. easy to track, et cetera. you are getting strong retail and internet exposure. >> amazon not what i consider a european company. is there any pure plays in europe as believe it or not like almost the italian political situation is looking better than us? lots of stocks, going into adr or directly buying european stock. >> we have a smart sophisticate
who is looking better these days, europe? sure it's got stains, a little dented around the edges but without dysfunction. europe starting to look like the cleanest shirt in the global laundry bag. one of the best ways to play europe for the u.s. investor. our next guest thinks the three are your best bet. amazon, tech 2 and goldman sachs. let's bring in clem. let us start with amazon and why is this a good european play? >> basically amazon is wiping out a lot of retail in europe. they're...
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Oct 30, 2013
10/13
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are investors giving them time to sort out europe and opal? >> well, they've been working on that for quite a while. and i think what we'll be watching for is in the earnings reports today is did they narrow the losses? the goal is to be profitable in europe again by mid decade. the important thing will be to see some progress. at ford, we saw tremendous progress this quarter. so i would be hoping for the same from general motors. >> and what do you make of the -- at the moment between general motors? general motors stock up 17% in fact last six months. . >> and ford has been up, too. but both automakers have been going up. and if we continue to see, you know, across the board improvements, i see no reason why that shouldn't continue, depending on what the overall market does. >> and chrysler tomorrow, they've -- their jeep cherokee. how big an issue is that? >> well, we will see chrysler earnings come out later this morning. it could be a weak quarter for them. chrysler has not -- its sales hasn't -- in the u.s. and it's heavily dependant on
are investors giving them time to sort out europe and opal? >> well, they've been working on that for quite a while. and i think what we'll be watching for is in the earnings reports today is did they narrow the losses? the goal is to be profitable in europe again by mid decade. the important thing will be to see some progress. at ford, we saw tremendous progress this quarter. so i would be hoping for the same from general motors. >> and what do you make of the -- at the moment...
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Oct 31, 2013
10/13
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. >>> plenty of werings in europe today. third quarter profits coming in below estimates as refining margins and disruptions in nigeria take their toll. we'll be joining the oil majors at 10:50 a.m., in other words, 40 minutes from now. bt group, meanwhile, found its outlook and raised its dividend. the new ceo of the telecom group says the firm is tearing off attractive new customers. broadband is also become ago bright spot. >> consumer revenues have grown for the first time in ten years. they're up 4%. we've had a record share within 9 months of the quarter. >> alcatel lucent up nearly 17%. it appears itsry structuring firm is continuing to work. it increased revenues for the third quarter. the ceo has told michael couples he's pretty happy with the progress. >> things are getting better. we are still at the beginning of our plan, which is three years journey which means that we will need still a few additional quarters to really turn around. >> and another french stock up today, bnp paribas. nearly 3%. an increase in net
. >>> plenty of werings in europe today. third quarter profits coming in below estimates as refining margins and disruptions in nigeria take their toll. we'll be joining the oil majors at 10:50 a.m., in other words, 40 minutes from now. bt group, meanwhile, found its outlook and raised its dividend. the new ceo of the telecom group says the firm is tearing off attractive new customers. broadband is also become ago bright spot. >> consumer revenues have grown for the first time in...
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Oct 9, 2013
10/13
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having spent the last week here in europe, it's evident this is
having spent the last week here in europe, it's evident this is
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Oct 3, 2013
10/13
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europe has taken off. a januaryoff. the market ground to a halt but in match buyers and sellers kind of found a price they agreed on. i'd say it started with the countrywide deal back in march. that was apollo and oak tree were selling that and as kayla was talking about real estate in the u.s., these are real estate deals too. very cyclical stuff and -- >> in the uk -- >> you're right. we have no ipos in the uk for three years because fund managers just spat everything out and said no way. that seems to have changed. foxton traded up. when you speak to bankers they're talking about the equity markets outbidding private equity and that hasn't happened for years. pets home, these were deals that were dual track. the fund managers got very annoyed with because right at the 11th hour you'd have a sponsor walk in, bid more and get the deal so i think you're seeing a reversal because the kind of ratios that fund managers are paying in equity markets are paying in europe which is different. u.s. has been fairly resilient espe
europe has taken off. a januaryoff. the market ground to a halt but in match buyers and sellers kind of found a price they agreed on. i'd say it started with the countrywide deal back in march. that was apollo and oak tree were selling that and as kayla was talking about real estate in the u.s., these are real estate deals too. very cyclical stuff and -- >> in the uk -- >> you're right. we have no ipos in the uk for three years because fund managers just spat everything out and said...
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Oct 30, 2013
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. >> richard, you were talking europe before europe was cool. >> yes. >> i hear more people talking europe these days. for 2014, do you think strategic investors should look at europe very closely and do you think european stocks as a group plight outperform u.s.? >> the outperformance i'm unsure of and i think the debate for people looking at europe will be trying to see whether europe repeats what the u.s. did this year next year. europe isn't cheap. there's a lot of policy debate and issues going on right now. we've been investing there because we think there's a tremendous degree of operating leverage embedded in corporations and we think earnings growth actually grows next year. i'm not bullish on the amount of growth. we are very constructive on the outlook that will go from a negative 1% growth to a positive 1% economic growth. negative earnings growth to positive earnings growth. that could be 6 to 10%. >> that could be nice for european stocks. sue, down to you. >> ben, you were nodding your head in agreement with a lot of what richard said and i saw in my notes this morning that
. >> richard, you were talking europe before europe was cool. >> yes. >> i hear more people talking europe these days. for 2014, do you think strategic investors should look at europe very closely and do you think european stocks as a group plight outperform u.s.? >> the outperformance i'm unsure of and i think the debate for people looking at europe will be trying to see whether europe repeats what the u.s. did this year next year. europe isn't cheap. there's a lot of...
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Oct 29, 2013
10/13
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>> yes, at this time of the day, of course, because europe hasn't ended, and you'll see europe is making gains for the first time in three days. italy has had a particularly strong day so far today. obviously, we're at the height of earnings season in europe. already we know that currency effects are huge, and you saw that, of course, with michelin and goodyear here in the united states. two major factors i want to point out, the degree to which the regulators are clamping down in europe is evident in the banks' earnings season. ubs saying it won't make profitability targets until 2015. deutsche bank, despite being in positive territory, 1.2 billion euros, one of the one-off effects, still able to trade higher on the session. the other major effect to come out of earnings today is the oils. and oil majors in that, as well. bp coming through, suggesting that a, profits haven't fallen as much as people feared. more importantly, it is boosting its dividend, and it is going to sell off more assets to return cash to shareholders. salpem is up, also, in italy, a lot of weighting, a lot of shor
>> yes, at this time of the day, of course, because europe hasn't ended, and you'll see europe is making gains for the first time in three days. italy has had a particularly strong day so far today. obviously, we're at the height of earnings season in europe. already we know that currency effects are huge, and you saw that, of course, with michelin and goodyear here in the united states. two major factors i want to point out, the degree to which the regulators are clamping down in europe...
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Oct 10, 2013
10/13
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>> well, europe is i think in your on previous interviewer made the point that europe is stabilizing and perhaps even beginning to grow again. so we look forward to growing with europe right now. of course, we are down there. russia is a very stable market because there's few players. 35 i'll and gas companies. we tend to find long-term contracts with them. they are doing a lot of drilling. they're going into eastern siberia and drilling. russia is really the motor of the company and the american operation catch. the up side win this volatile american market turns around, which it's beginning to do. >> but the u.s. market to some extent has been dogged by overcapacity. how is that affecting you? >> well, the overcapacity has come from unchecked and unfair imports. so the industry has gotten together and started a trade case. the six itc commissioners voted unanimously to pursue the case. so we think that that is going to take some of that pressure off the market pricing. in terms of overcapacity, there are a lot of plans being planned. but we think that that overcapacity of the new p
>> well, europe is i think in your on previous interviewer made the point that europe is stabilizing and perhaps even beginning to grow again. so we look forward to growing with europe right now. of course, we are down there. russia is a very stable market because there's few players. 35 i'll and gas companies. we tend to find long-term contracts with them. they are doing a lot of drilling. they're going into eastern siberia and drilling. russia is really the motor of the company and the...
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Oct 17, 2013
10/13
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the big swap with europe. in a world where the reserve is so much larger than another, it's going to be there for at leave the a decade to come i would guess. >> and as far as trading until the year-end does dollar/yen stay in the 95 to 100 level? euro/dollar between 1.30 and 1.38, for example? >> i think we could see the dollar weakness peter out rather quickly. we may see something like 1.38 or slightly newer highs for euro/dollar. but we'll see an anticipation of a november ecb meeting where draghi needs to come out and reach into the toolbox and stop the de facto monetary policy. i see that coming. dollar/yen could see a pretty deep correction. that's been a latent stale trade. and as well can risk appetite continue higher from here? the dollar/yen comes back in either as a safe haven currency if we get risk off or data proves more supportive we get the fed taper back into the cards. >> what do you think dollar/yen could go down to? so for dollar/yen in terms of volatility, it's high to the down side becau
the big swap with europe. in a world where the reserve is so much larger than another, it's going to be there for at leave the a decade to come i would guess. >> and as far as trading until the year-end does dollar/yen stay in the 95 to 100 level? euro/dollar between 1.30 and 1.38, for example? >> i think we could see the dollar weakness peter out rather quickly. we may see something like 1.38 or slightly newer highs for euro/dollar. but we'll see an anticipation of a november ecb...
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Oct 2, 2013
10/13
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you like europe? >> i don't like europe. i don't like china. i don't like anything. basically in picking stocks in europe, beni. they have a wonder play in the telecom area. they have a business in bra dzi. there's bargains. we like a company that makes parts for cars called brembo. expensive car. little red products on the wheels. you go see the movie and you see these products are hot. we pick stocks. there's $3 trillion in a global marketplace in telecom. europe consolidated. which ones do we pick? you saw what verizon did with vivendi. britain is still part of did world. >> maybe. >> so -- that's -- that's where we are. we have a bunch of companies. a variety of companies. large and small. >> let's talk about one specific sector i know you like. that being consumer related stocks. you like campbell soup. you like post. we talked about cereal. hayne and boulder brands. maybe we should start there. what about hayne? icon exited. some say that's a sign at the top. >> h an was one. that's not the question. the question is over the last ten years, health and wellness,
you like europe? >> i don't like europe. i don't like china. i don't like anything. basically in picking stocks in europe, beni. they have a wonder play in the telecom area. they have a business in bra dzi. there's bargains. we like a company that makes parts for cars called brembo. expensive car. little red products on the wheels. you go see the movie and you see these products are hot. we pick stocks. there's $3 trillion in a global marketplace in telecom. europe consolidated. which...
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Oct 4, 2013
10/13
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so what i really hope for europe and for southern europe, of course, is that germany, tgerma government will change its austerity policy. the problem with germany is its straight approach implies economic disequilibrium in europe. so to solve the problem, they must do a lot of changes. but even germany must change significantly. >> you say europe shouldn't be germanized. i think the germans would argue that they have already softened up enough, given italy more team to reach deficit targets. do they need to do far more? you're frowning at me. >> germans must be aware that it's in their interests because their trade surplus is used to finance italian demand which allow german companies to export. so now what must be definitely done in germany is to sustain internal demand in order to reduce their trade surplus. and to allow for instance italian companies to export in german country. >> you're talking about italian exports. you're also vice rector for china, as well. what does italy need to do to promote their products over in china? >> a lot of new things must be done. there isn't an int
so what i really hope for europe and for southern europe, of course, is that germany, tgerma government will change its austerity policy. the problem with germany is its straight approach implies economic disequilibrium in europe. so to solve the problem, they must do a lot of changes. but even germany must change significantly. >> you say europe shouldn't be germanized. i think the germans would argue that they have already softened up enough, given italy more team to reach deficit...
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Oct 7, 2013
10/13
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. >> in europe you like mid and small caps. why? because they are more domestic oriented companies. >> so if you like u.s. and you like the european recovery what about the u.s. multinational. >> i think valuation comes into play. a lot of the -- i do agree, also might be looking interesting. it's more of a u.s. play rather than a china or rush hour. >> it was up 15% today. are people just grasping and hoping? >> and it is a hedge fund favor. >> to a certain degree. when you look at europe you have to do your home work. you don't just have money and buy europe as a whole. you have to look at the relationships and say are they going the survive? so you have to do your home work. you mentioned greece. you get a country like spain. still ugly. slowly getting above 50. >> is there a certain times of the year? is it october? november? or just open ended now? what's the next date we have to worry about with certain areas? >> as a whole, that is clearly the biggest concern. over the next couple of months it gives time for individual invest
. >> in europe you like mid and small caps. why? because they are more domestic oriented companies. >> so if you like u.s. and you like the european recovery what about the u.s. multinational. >> i think valuation comes into play. a lot of the -- i do agree, also might be looking interesting. it's more of a u.s. play rather than a china or rush hour. >> it was up 15% today. are people just grasping and hoping? >> and it is a hedge fund favor. >> to a certain...
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Oct 23, 2013
10/13
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europe. we're back to worrying about what we were worrying about four weeks ago when we started worrying about washington. >> things we were worried about before we were worried. >> yes. >> in just a few minutes, cramer will rejoin us as well when "squawk on the street" returns. [ male announcer ] staying warm and dry has never been our priority. our priority is, was and always will be serving you, the american people. so we improved priority mail flat rate to give you a more reliable way to ship. now with tracking up to eleven scans, specified delivery dates, and free insurance up to $50 all for the same low rate. [ woman ] we are the united states postal service. [ man ] we are the united states postal service. [ male announcer ] and our priority is you. go to usps.com® and try it today. became big business overnight? ♪ like, really big... then expanded? ♪ or their new product tanked? ♪ or not? what if they embrace new technology instead? ♪ imagine a company's future with the futur
europe. we're back to worrying about what we were worrying about four weeks ago when we started worrying about washington. >> things we were worried about before we were worried. >> yes. >> in just a few minutes, cramer will rejoin us as well when "squawk on the street" returns. [ male announcer ] staying warm and dry has never been our priority. our priority is, was and always will be serving you, the american people. so we improved priority mail flat rate to give...
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88
Oct 28, 2013
10/13
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stocks in europe open in the green. mildly trading high. trying to take their cue from another record close on wall street. >>> apple hopes to follow suit with the fourth quarter fiscal figures today. the british phone hacking scandal resumes today with rebekah brooks set to appear. >>> now to crest construction activity set to resume in september. the home sales are expected to rise 2.1% according to reuters poll. the national association of realtors says it should be close to .3% for the month. cherry oliver is ceo of the carnegie group. nice to see you again. >> good morning. >> we saw in july and august -- >> thanks for having me. >> always nice to have you. we saw in july and august the rates going up and all of that taper talk. now that they're going down is that going to feed through to pending home sales or not? >> yeah. i think even more than that. folks are sort of getting used to the direction mortgage rates are going in and are afraid of where they may go in the future, but one thing that's going to really impact the pending hom
stocks in europe open in the green. mildly trading high. trying to take their cue from another record close on wall street. >>> apple hopes to follow suit with the fourth quarter fiscal figures today. the british phone hacking scandal resumes today with rebekah brooks set to appear. >>> now to crest construction activity set to resume in september. the home sales are expected to rise 2.1% according to reuters poll. the national association of realtors says it should be close...
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Oct 14, 2013
10/13
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the economic growth in europe becoming more sustainable. growth stocks outway cyclic calls. >> no, we're buying more cyclicals. we bought financials. i should step back. we buy funds. we do buy individual stocks so we have bought kind of china, the hps, the rios of this world. we are more cyclically exposed right now. >> the interesting thing is the staple china plays. the diagios, the consumer groups which were steady growths into emerging markets taking a bit of a bath. >> a little too expensive. we have the news and there is some kind of a slowdown in china. long term we wouldn't have an issue with these types of stocks at all, it's just right now the cyclicals and financials is what we like to emphasize. >> what do you think is going to happen from now until year end? we keep our eyes on washington. >> i'm not positive about the default. that would be really serious. but seasonally it's a good time. november/december to gain markets. the values in equity markets, as i say, we put a great emphasis on this almost m and a corporate bond ve
the economic growth in europe becoming more sustainable. growth stocks outway cyclic calls. >> no, we're buying more cyclicals. we bought financials. i should step back. we buy funds. we do buy individual stocks so we have bought kind of china, the hps, the rios of this world. we are more cyclically exposed right now. >> the interesting thing is the staple china plays. the diagios, the consumer groups which were steady growths into emerging markets taking a bit of a bath. >> a...
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Oct 9, 2013
10/13
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that's where we stand in europe. joining us with the update from asia, sing wish has the details from europe. >> thank you, ross. we talked about the dollar movement. the nikkei 225 ended higher by 1% today, getting a lift from rebounding greenback against the yen, lending support to exporter stocks. in the u.s. political debt market, keeps volumes tepid. while the index continues its climb, it's still down about 13% from its peak in may. the shanghai composite added 0.6% ending above that key 2200 level. meanwhile, the hang seng index in hong kong ended down by 0.6%. the tie ex in the red. south korea's kospi ended higher by 0.4%. the australia index, all trading at the moment. mizuho financials lost about 1% after admitting top management knew about loan toes criminal groups at least three years ago. meanwhile, tenco shares in the red as japan's industry manager rejects new legislation to save the struggling utility giant. the operator of the crippled fukushima power plant says six workers were exposed to radioacti
that's where we stand in europe. joining us with the update from asia, sing wish has the details from europe. >> thank you, ross. we talked about the dollar movement. the nikkei 225 ended higher by 1% today, getting a lift from rebounding greenback against the yen, lending support to exporter stocks. in the u.s. political debt market, keeps volumes tepid. while the index continues its climb, it's still down about 13% from its peak in may. the shanghai composite added 0.6% ending above...
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531
Oct 21, 2013
10/13
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phillips electronics, big company in europe, good earnings report. akzo, up. a little disappointing on mcdonald's but hasbro, historic high for hasbro as well, beating on revenue and bottom line as well. again, an historic high. we did have concerns, some companies missed their sales estimate. that's what happened with gannett, moving lower. rate-sensitive slid a little bit, to the downside. home builders dealing with higher rates, to the down side. we just got netflix earnings. what have we got? >> just coming out right now, bob. thank you so much. the stock has been on a tear all year. let's get to julia looking at these numbers right now. over to you. >> that's right. netflix earnings coming in better than expected. the company reporting 52 cents per share. wall street had been expecting 49 cents per share. and that is up from 13 cents per share in the year ago period. revenue coming in just slightly better than expected at 1.11 billion -- i'm sorry, $1.16 billion, i believe, and expected to come in at $1.11 billion. the main number is domestic streaming su
phillips electronics, big company in europe, good earnings report. akzo, up. a little disappointing on mcdonald's but hasbro, historic high for hasbro as well, beating on revenue and bottom line as well. again, an historic high. we did have concerns, some companies missed their sales estimate. that's what happened with gannett, moving lower. rate-sensitive slid a little bit, to the downside. home builders dealing with higher rates, to the down side. we just got netflix earnings. what have we...
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Oct 17, 2013
10/13
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what have you been dumping if you like europe? >> yeah. well i would in this country, i would make sure i have my bond exposure down. i think the ten-year might still end the year closer to 3% and next year i think it's going to go higher again. so i would make sure i pare that back. as far as the stock i traded out of some industrials recently. i'm about to go back into those as they've pulled back a little bit. the financials have pulled back here in the united states. i think they're attractive on a relative basis. and then what i -- what has gotten a good momentum, i believe, is the material stocks here which is starting to move up as the dollar is starting to come down. i like tech but i'm not so enamored maybe with what sam said, more enamored with small than the big ones that suffer an age problem. >> jim and sam, thank you very much. i guess good things don't come in small packages, mandy. thanks, guys. >> there are always exexceptions to the rule. >> up next on "street signs," congress or root canals? which do you think rates bett
what have you been dumping if you like europe? >> yeah. well i would in this country, i would make sure i have my bond exposure down. i think the ten-year might still end the year closer to 3% and next year i think it's going to go higher again. so i would make sure i pare that back. as far as the stock i traded out of some industrials recently. i'm about to go back into those as they've pulled back a little bit. the financials have pulled back here in the united states. i think they're...
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Oct 22, 2013
10/13
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and now suddenly europe's coming bam europe has ban very big sweng raf hj. >> doesn't seem like people are rahal hired. >> kelly evans is on the show early today to walk us through some of the internals. >> consistent with the theme that's played out, unemployment at a four-year, five-year low but at the same time the payroll growth isn't at that late. a lot of people would prefer where we're maining 200,000 jobs a month, even if it meant the unemployment rate wasn't coming as quickly. bernanke and i believe yellen talk about looking at a wider range of indicators. even if you just take the headline, it's clear there is a weakening trend in place. eight private sector payroll number in particular just to pull that one out. we talked about the deceleration overall but september surprisingly tfs jobs added it at the government level. private payrolls only add $12,000 since july. that's not the number they wanted to see. >> and the euro goes to a high. i hope people don't say let's get some euro bonds. >> when you act the way we did, the question is whether you can still be the premiere c
and now suddenly europe's coming bam europe has ban very big sweng raf hj. >> doesn't seem like people are rahal hired. >> kelly evans is on the show early today to walk us through some of the internals. >> consistent with the theme that's played out, unemployment at a four-year, five-year low but at the same time the payroll growth isn't at that late. a lot of people would prefer where we're maining 200,000 jobs a month, even if it meant the unemployment rate wasn't coming as...
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Oct 8, 2013
10/13
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if you've just joined us in europe, good afternoon. if you're watching in asia, and we'll get on to you in today's show on, as well. sideline. instead america's trading partners in asia have been left frustrated. we'll have the latest from the apex summit in bali. >>> plus at 10:35, a new hsbc report shows infrastructure trade will triple by 2030. we'll ask whether the surge is likely to come from developed or emerging nation peps. >>> investors appear to be stamping their seal of approval on the royal mail ipo. but does a last minute rush before the deadline suggest the government's share price evaluation was wrong? we'll get the latest at 0:20. >>> and it was bought for $200 million in 2001 and now it's worth $250 million. we'll be joined by the co-owner of the ultimate fighting championship. to find out how he helped make the franchise a knockout business. >>> and from knockout to shutdown, as the crisis run was on stateside, attention turns to october 17th when the u.s. faces default. or indeed, does it? the treasury department cou
if you've just joined us in europe, good afternoon. if you're watching in asia, and we'll get on to you in today's show on, as well. sideline. instead america's trading partners in asia have been left frustrated. we'll have the latest from the apex summit in bali. >>> plus at 10:35, a new hsbc report shows infrastructure trade will triple by 2030. we'll ask whether the surge is likely to come from developed or emerging nation peps. >>> investors appear to be stamping their...
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120
Oct 9, 2013
10/13
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the united states and europe show sluggish orders, but alcoa boosted for europe and upped the china growth rate from 12 to 16%, up to 17 to 20% range. that's pretty amazing. same with auto. alcoa stays u.s. positive, europe minus, but china goes from 7 to 10 from 9 to 11. i know that doesn't sound a lot to you, but that is very big and very positive tightening of the range. alcoa's worldwide building construction maintaining its bench can. hey, by the way it's worth pointing out that u.s. beverage cans continue to be soft. europe has gotten weaker, down to 2 to 3 from down 1 to 2%. so keep that in mind. but overall, the global picture is robust for the engineered products portion of this aluminum maker. and you know what? i think you get even better in 2014 when costs come down and cash flow continues to rise. here is the bottom line. i'm going to say it right here. i think this stock aa deserves to sell higher. but this is a true deserves has nothing to do with it situation right out of the movie "unforgiven." however, any read of alcoa's quarter shows you the world was getting to be a st
the united states and europe show sluggish orders, but alcoa boosted for europe and upped the china growth rate from 12 to 16%, up to 17 to 20% range. that's pretty amazing. same with auto. alcoa stays u.s. positive, europe minus, but china goes from 7 to 10 from 9 to 11. i know that doesn't sound a lot to you, but that is very big and very positive tightening of the range. alcoa's worldwide building construction maintaining its bench can. hey, by the way it's worth pointing out that u.s....
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521
Oct 10, 2013
10/13
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have we seen the best in europe for the near term? would you want to be buying europe? >> i think you ought to buy everything. >> oh. buy everything. >> we're buying europe, too. >> you want to buy everything. sometimes we get to be too specific. sometimes it's better to say, things are doing well. the uncertainty is lifted off the table. >> if you want to do valuation and just look at the developed markets, europe is the most attractive market. >> emerging markets, yes or no. >> no. short term, yes. longer term, no. >> no on emerging markets. what's the story. >> i like them. >> ben, you like e mernging markets, too. >> no. underweight emerging markets we are. be careful about europe, too. equal weight. think of currency hedging there, too, in the same way you made extra money by hedging the yen. >> all right. great, great conversation. we appreciate everybody's time. thank you so much. want to take it back to the usa right now for the president and john boehner will have new data from an nbc "wall street journal" poll for their meeting in a few minutes. john harwood i
have we seen the best in europe for the near term? would you want to be buying europe? >> i think you ought to buy everything. >> oh. buy everything. >> we're buying europe, too. >> you want to buy everything. sometimes we get to be too specific. sometimes it's better to say, things are doing well. the uncertainty is lifted off the table. >> if you want to do valuation and just look at the developed markets, europe is the most attractive market. >> emerging...
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Oct 23, 2013
10/13
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margins in europe, that's 300 basis points lower than in the u.s. they haven't recovered from what we've seen in europe over the last two year, for the first time, seeing the transition from below-trend growth to positive growth. >> we love spirited debates. we're going to have one now. josh? >> i agree with your call. i'm not sure if the european move is quite over yet. this is a trade that's been on since the spring. what i want to ask you about is eastern europe, and specifically russia. this could be the mother of all value buys when it turns around. they're talking about raising dividends about the bigger entity, four times earnings, the most glaringly cheap market on the planet. is this thing ever going to take off, and if it does, how do you play it? >> well, russia's been a cheap market for a long time. >> right. >> russia is a market leveraged to what's going on in energy markets. if you were to see a big pickup in global growth, if you were to see energy prices pick up, sure, russia could benefit. we're not taking an outright view on russi
margins in europe, that's 300 basis points lower than in the u.s. they haven't recovered from what we've seen in europe over the last two year, for the first time, seeing the transition from below-trend growth to positive growth. >> we love spirited debates. we're going to have one now. josh? >> i agree with your call. i'm not sure if the european move is quite over yet. this is a trade that's been on since the spring. what i want to ask you about is eastern europe, and specifically...
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Oct 18, 2013
10/13
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one, europe. they think it will be a monster catalyst. and two, they say teens are starting to buy the michael kors brands. [ buzzer sounds ] >> are you guys buying what one of the guys is selling? >> yeah, with pete, the comps in north america are tougher, but crushing in europe. in terms of expensive, last year this time, 35 times earnings, and now 25 times. it's actually cheaper than it was last year, so i'd be long michael kors. >> first of all, john, give simon the address of one of the discount stores, he needs a new suit. [ laughter ] secondly, the thing i'd say is the price tag has come down. it's still to me a door story. i like it. i am worried about the core, though, given the apparel. >> tell us who you think won the debate. use #bull or #bear. we'll give you the results at the end of the show. >>> hard to believe there are only 48 days left until christmas. if the recent numbers are any indication, the retailers will be sweating it out big time. they're here to break down the stocks to watch or avoid. the new co-heads of the
one, europe. they think it will be a monster catalyst. and two, they say teens are starting to buy the michael kors brands. [ buzzer sounds ] >> are you guys buying what one of the guys is selling? >> yeah, with pete, the comps in north america are tougher, but crushing in europe. in terms of expensive, last year this time, 35 times earnings, and now 25 times. it's actually cheaper than it was last year, so i'd be long michael kors. >> first of all, john, give simon the...
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Oct 24, 2013
10/13
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europe has been a terrific boost to global growth as of late. the bank has been incredibly easy on the continent. looking the other way at the ne'er-do-well bank, maybe it's time to pay the piper and the central bankers want the banks, many of which would have been shuttered if they were in this country to raise some equity. that will slow things down for certain. finally china which has been seeing a skein of better than expected orders and economic growth has a pushback from its own central bank which didn't inject reserves and the heavy lifting is done and it's time for the economy to fend for itself, given that china exports 25% of its goods to europe and europe might be slowing down, that doesn't bode well for global demand. now the question is demand for what? we know the bonds are saying there is going to be less demand for money, hence the decline in interest rates and more important in commodities. the most visible commodity being hit right now? oil. that's why we seem to have lost one of the most products to this market, the oil and ga
europe has been a terrific boost to global growth as of late. the bank has been incredibly easy on the continent. looking the other way at the ne'er-do-well bank, maybe it's time to pay the piper and the central bankers want the banks, many of which would have been shuttered if they were in this country to raise some equity. that will slow things down for certain. finally china which has been seeing a skein of better than expected orders and economic growth has a pushback from its own central...
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Oct 25, 2013
10/13
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just down in europe. cked bag with my united mileageplus explorer card. i've saved $75 in checked bag fees. [ delavane ] priority boarding is really important to us. you can just get on the plane and relax. [ julian ] having a card that doesn't charge you foreign transaction fees saves me a ton of money. [ delavane ] we can go to any country and spend money the way we would in the u.s. when i spend money on this card, i can see brazil in my future. [ anthony ] i use the explorer card to earn miles in order to go visit my family, which means a lot to me. ♪ >>> this is "worldwide exchange." here are the headlines from around the globe. earnings providing cheer with the likes of bsf, renault, novozyme all highlighting the impact of a stronger euro. >>> china looks to curb excessive credit. it's a new market benchmark. this is while the pboc is still holding tight on liquidity. and we can do better. twitter getting set to meet wall street, hoping a modest valuation around $11 billion would help it avoid the mistake of a botched facebook ipo. >>> welcome to
just down in europe. cked bag with my united mileageplus explorer card. i've saved $75 in checked bag fees. [ delavane ] priority boarding is really important to us. you can just get on the plane and relax. [ julian ] having a card that doesn't charge you foreign transaction fees saves me a ton of money. [ delavane ] we can go to any country and spend money the way we would in the u.s. when i spend money on this card, i can see brazil in my future. [ anthony ] i use the explorer card to earn...
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Oct 25, 2013
10/13
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now, europe is starting to come back. you know, we had ford today saying europe is coming back. dupont saying europe is coming back. you're still seeing tepid growth in europe. >> yeah, so it's interesting. remember, two worlds of avnet. computers and components. in the high single digits this quarter for year on year. our computer business has been lagging. it's been down 11% year on year. in the i.t. spin, we've got a particular challenge i think in one of our key markets there. we've got part of its execution. it's not an all market phenomena. components are doing well. the computer products business less well. some of it self-inflicted, and we're on it. >> do we have to worry about a slight inventory build, or is that just going to be dissipated by the time the year is over? >> yeah, some of it was to build up for some scheduled fulfillment orders that are coming in this quarter as well. if you look at our overall velocity metrics, they actually improve slightly on a sequential basis. to us, it's never about raw inventory dollars. we want to make sure we have the right profi
now, europe is starting to come back. you know, we had ford today saying europe is coming back. dupont saying europe is coming back. you're still seeing tepid growth in europe. >> yeah, so it's interesting. remember, two worlds of avnet. computers and components. in the high single digits this quarter for year on year. our computer business has been lagging. it's been down 11% year on year. in the i.t. spin, we've got a particular challenge i think in one of our key markets there. we've...
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Oct 1, 2013
10/13
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valuations in europe are still very depressed. it seems while we haven't made much progress on the structural side, draghi has changed a lot in europe, so i think european equities are a much better play. and when you look at valuations region like on china, for instance, the market cap of china is right where we were at the height of crisis. valuations in emerging markets and europe are much more interesting. >> let me pick up on that china debate, as well. we've had that fantastic growth that is slowing, yet a lot of people have lost their shirt involved in equities in asia and china, as well. >> it got back to this valuation argument and you can say that there are things in the world that the question is will it happen, it's when will it happen. and there's mean reversion. we know that china even growing at a rate of 6% or 7% is much faster than the rest of the world per we're ultimately going to see the emergence of a middle class in china. the reforms being put in place, these are the kind of things. you may not get instant g
valuations in europe are still very depressed. it seems while we haven't made much progress on the structural side, draghi has changed a lot in europe, so i think european equities are a much better play. and when you look at valuations region like on china, for instance, the market cap of china is right where we were at the height of crisis. valuations in emerging markets and europe are much more interesting. >> let me pick up on that china debate, as well. we've had that fantastic...
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Oct 8, 2013
10/13
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., australia, canada, and europe. gamestop has already doubled through this year, but the company has been doing really well, even with their core business devoted to selling games for systems that are seven years out of date. when gamestop reported in august, building up 8%, with huge upside guidance in the current quarter. and gamestop didn't even exist the last time xbox and playstation came out. so digital and mobile games online. company's mobile up an astounding $1.36 billion. let's check in with the ceo, paul rains, find out more about how his company is doing ahead of these giant product launches and great video games that are right now in the stores. mr. rains, welcome to "mad money". >> hey, jim, great to be here. >> have a seat. i have to tell you, not only do you have more irons in the fire, but i think people miss -- including me -- i underestimated what you got. is it "grand theft auto," which is the most incredible numbers i have ever seen? is it the affinity group, where you have more than 30 million p
., australia, canada, and europe. gamestop has already doubled through this year, but the company has been doing really well, even with their core business devoted to selling games for systems that are seven years out of date. when gamestop reported in august, building up 8%, with huge upside guidance in the current quarter. and gamestop didn't even exist the last time xbox and playstation came out. so digital and mobile games online. company's mobile up an astounding $1.36 billion. let's check...
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Oct 2, 2013
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let's bring in michelle caruso-cabrera and talk about europe. >> does anybody care about europe? of course we do. italian stock market was a standout today. all is right in the world. most of europe was weak because of the u.s. government, but spain and italy higher. berlusconi backed down. it is an incredible thing what has happened in the last week. this man who for years dominated italian politics, tried to disband the government over the weekend and he failed. there he is today, he voted for the current prime minister. something he said he wouldn't do. so the prime minister of italy survives his vote of confidence and so far things are calmer. take a look at what happened here with italian yields. they have fallen steadily since we were worried monday morning. that's the peak you see there. take a look at the stock market. it has recovered all of its recent losses as you can see. so it is really about the trend. very nice move there. the other italian making big news today was mario draghi, european central bank leaving interest rates unchanged discussing a number of things t
let's bring in michelle caruso-cabrera and talk about europe. >> does anybody care about europe? of course we do. italian stock market was a standout today. all is right in the world. most of europe was weak because of the u.s. government, but spain and italy higher. berlusconi backed down. it is an incredible thing what has happened in the last week. this man who for years dominated italian politics, tried to disband the government over the weekend and he failed. there he is today, he...
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Oct 7, 2013
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one pocket of strength is europe. companies with exposure to the euro zone have on average been outperforming stocks. 9.7% versus 6.3%. looking forward, thomas lee at jpmorgan, says keep an eye on companies with exposure. not to mentions the weakening u.s. dollar. that will be a trend to watch. >> thank you very much, this morning. six days after the launch of obama care exchanges and technical issues still plaguing the website, bertha coombs back at headquarters with more on this. >> good morning, kelly. despite ticking up parts of the federal exchange, federal officials are admitting that there are deep problems here. on day six, folks are still having trouble logging on. josh and emily are losing their company-sponsored insurance in january. new jersey is one of 34 states being operated off of the federal exchanges. they were able this morning to get past the start page more quickly but found the same problems they had all last week. >> we were able to start an account but unable to finish it. we were able to finis
one pocket of strength is europe. companies with exposure to the euro zone have on average been outperforming stocks. 9.7% versus 6.3%. looking forward, thomas lee at jpmorgan, says keep an eye on companies with exposure. not to mentions the weakening u.s. dollar. that will be a trend to watch. >> thank you very much, this morning. six days after the launch of obama care exchanges and technical issues still plaguing the website, bertha coombs back at headquarters with more on this....
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Oct 23, 2013
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and europe was on the edge of breakdown. and now those two zones have moved into positive territory, japan with a rush and europe still surprising on the upside. so, what we've got there -- this is really good for the u.s. because our trade position has been improving anyway. what we needed, frankly, was more growth abroad for the next kick up in the economy here. we are now getting it. that's going to be the part of the u.s. economy that's going to perform best. >> i guess, mandy, what i'm getting at is this whole dysfunction story. and how that has taken oomph out of things. does that basically tell an investor, look, i don't know what's going on. i don't have clarity. i'm going to sit on the sideline, i'm not going to stick my neck out even though the fed keeps pumping the pedal. >> i feel a lot of people are getting so sick of d.c. and fear it's a part of life that maybe they'll try to put those noises coming out of washington to the side and just sort of plow ahead, whether it be with business plans or whether it be wit
and europe was on the edge of breakdown. and now those two zones have moved into positive territory, japan with a rush and europe still surprising on the upside. so, what we've got there -- this is really good for the u.s. because our trade position has been improving anyway. what we needed, frankly, was more growth abroad for the next kick up in the economy here. we are now getting it. that's going to be the part of the u.s. economy that's going to perform best. >> i guess, mandy, what...
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Oct 10, 2013
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the united states and europe show sluggish orders in this category, but alcoa boosted for europe and upped the china growth rate from 12 to 16%, up to 17 to 20% range. that's pretty amazing. same with auto. alcoa keeps u.s. positive, europe minus, but china goes from 7 to 10 to 9 to 11. i know that doesn't sound a lot to you, but that is very big and very positive tightening of the range. alcoa's keeping its worldwide building construction, maintaining its bench can. hey, by the way, it's worth pointing out that u.s. beverage cans continue to be soft. europe has gotten even weaker, down to 2 to 3 from down 1 to 2%. so keep that in mind. but overall, the global picture is robust for the engineered products portion of this aluminum maker. and you know what? i think you get even better in 2014 when costs come down and cash flow continues to rise. here is the bottom line. i'm going to say it right here. i think this stock aa deserves to sell higher. but this is a true "deserves has nothing to do with it" situation right out of the movie "unforgiven." however, any read of alcoa's quarter
the united states and europe show sluggish orders in this category, but alcoa boosted for europe and upped the china growth rate from 12 to 16%, up to 17 to 20% range. that's pretty amazing. same with auto. alcoa keeps u.s. positive, europe minus, but china goes from 7 to 10 to 9 to 11. i know that doesn't sound a lot to you, but that is very big and very positive tightening of the range. alcoa's keeping its worldwide building construction, maintaining its bench can. hey, by the way, it's worth...
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Oct 18, 2013
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i think this service is quite bemusing in europe. it's quite a few people doing that in america, but in europe, i think people generally speaking are still a little conservative and i think we are one of the first ones doing this. >> so someone comes to you with a work of art, you value it and lend a percentage of it? >> how it works is actually quite simple. first of all, i think auction houses are very professional these days. and they probably have over 08% market share. so we very much value their opinions. and we lend 50% against value. >> thought quite high. >> traditionally speaking, auction houses are very conservative in their estimates. >> what sort of duration? >> 18 months and then we'll review on the values and the situation again. >> and you would expect the money back in 18 months? >> no. in 18 months, we'll review the terms. 18 months would be quite a long time for value to change. with the global growth, we would like to think that within 18 months, it has a small adjustment that things -- has a little yield a little
i think this service is quite bemusing in europe. it's quite a few people doing that in america, but in europe, i think people generally speaking are still a little conservative and i think we are one of the first ones doing this. >> so someone comes to you with a work of art, you value it and lend a percentage of it? >> how it works is actually quite simple. first of all, i think auction houses are very professional these days. and they probably have over 08% market share. so we...
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Oct 29, 2013
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the biggest gainer in europe after hikes of dividend and profits beat forecasts. we're going to be bringing you a live interview and exclusive interview with ford's giant at 10:00 cet. >>> and while michelin is the latest company to face currency head whippeds, they cut targets sending shares to the bottom of the paris market. we've seen a sharp sell-off in ubs shares as litigation risks weigh on thebacking giant. >> it's a couple factors. it's the additional provisions for litigation. an extra provisions is what the bab bank set aside in the third quarter. on top of that, you have new capital demands outlined by the regulator here in switzerland. they require an additional 50% for any unknown litigation and compliance factors that could hit the bank in the future. some would argue this is extremely punitive, this is punishing for the bank and it doesn't really correspond with reality. but ubs is in a position to deal with those issues, to deal with the additional capital requirements. as we saw at the end of the third quarter, it has an extremely strong capital r
the biggest gainer in europe after hikes of dividend and profits beat forecasts. we're going to be bringing you a live interview and exclusive interview with ford's giant at 10:00 cet. >>> and while michelin is the latest company to face currency head whippeds, they cut targets sending shares to the bottom of the paris market. we've seen a sharp sell-off in ubs shares as litigation risks weigh on thebacking giant. >> it's a couple factors. it's the additional provisions for...
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Oct 23, 2013
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but we've had nine straight sessions of gains for europe. we're coming off five-year highs. they look perhaps a little overvalued. the ftse 100 down about 0.5%. a little less for the xetra dax, and the ftse mib off 1.1%. >>> sectors, banks down 1.69%. telecom is off again. gold has been up to a four-week high today because of the weakness we've seen on the dollar, as well. treasury yields, look at this, 2.48%, the yield at the moment. and we've dropped something like 24 basis points just before the end of the government shutdown. yields lower across the board. italian yields getting down to 4%, as well. despite the bank of england coming out half an hour ago and saying we might have to trim, saying that the employment will hit targets earlier than we previously thought, potentially. and on the currency markets, talked about the dollar index down at eight-month lows. euro/dollar, 1.32358. we did nudge up a little earlier on today. the aussie/dollar has come back from its 4 1/2 month high after it looked like inflation was going higher sxwt reserve bank of australia will move.
but we've had nine straight sessions of gains for europe. we're coming off five-year highs. they look perhaps a little overvalued. the ftse 100 down about 0.5%. a little less for the xetra dax, and the ftse mib off 1.1%. >>> sectors, banks down 1.69%. telecom is off again. gold has been up to a four-week high today because of the weakness we've seen on the dollar, as well. treasury yields, look at this, 2.48%, the yield at the moment. and we've dropped something like 24 basis points...
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Oct 24, 2013
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. >> yeah we've resumed the upward track in europe. and as far as the markets are concerned, we continue to -- we've -- we've returned to the upward buys after we fell yesterday. overseas, a lot of big companies are reporting in europe today. here are some of the movers. this is the largest power tool operator for gardens in the world, a problem with its supply chain here in the united states. the spanish banks have also started reporting, the big one, of course, concerned about the underlying asset quality. it's the fifth largest bank in spain that's had the big move and pulling the other banks up. and mckesson, the medical distributor here in the united states, has done the deal with its german company, celesio, and it's had a wonderful run over in frankfurt. it's about generic drugs and global distribution systems. i want to mention the underlying state of the euro zone economy is poor. we had some very bad pmi figures, both services and manufacturing, a composite pmi. they've started going in the other direction. they're beginning
. >> yeah we've resumed the upward track in europe. and as far as the markets are concerned, we continue to -- we've -- we've returned to the upward buys after we fell yesterday. overseas, a lot of big companies are reporting in europe today. here are some of the movers. this is the largest power tool operator for gardens in the world, a problem with its supply chain here in the united states. the spanish banks have also started reporting, the big one, of course, concerned about the...