Transcripts For FBC Varney Company 20140730

New york times, 125 million. We have the report. The head shaker of the day, conspiracy theorists Jesse Ventura wins 1. 8 billion for the widow of a navy seal. You can be sure we will have a report on this disgrace. Varney and company is about to begin. Here we go. A strong rebound for the economy in the april through june quarter. Look at that. 4 annualized growth. Clearly we are not going down the recession road. Some market watchers are throwing cold water on this rebound. You will hear from them throughout the show. 4 annualized growth q 2. The market liked it initially. Healthcare stocks are dragging the market down. A full explanation of this dragging down, we are up 150 points from the high this morning. The improving economy pushed Interest Rates higher. The yield on the treasurys back above 2. 5 , 252 right there. Stock of the day, no question, is twitter. Big winner, the ongoing analysts were expecting a loss, the Company Posted a profit. The world cup helped it grow its user base, 16 million extra users in three months. The stock is up 20 . We will take on the issue of terror financing. The New York Times reporting european governments pay ransom for hostages under the guise of humanitarian aid. The money goes to terrorists coffers. Al qaeda and its direct affiliates have taken in at least 125 million from kidnappings of which 66 million was paid last year. Here is the breakdown of ransom payments. Almost 16 million came from france. Switzerland, 12 million, spain, 11 million, austria 3 million, germany not a full listing of accounting that they paid out some big bucks. Joining us from capitol hill senator john arrest those who is on the Senate Foreign relations committee. Senator, does the payment of such huge amounts encourage more kidnapping . I think it does. We are seeing kidnappings focused on people from the countries where ransom is paid. We refused at least until recently to negotiate for deal with terrorists but look where the money is going. Theyre using it to recruit others, using it for training and using it for weapons used by the terrorists. Stuart can you do anything . You are on the Senate Foreign relations committee. Can you do anything but publicize it . We want to make sure that the u. S. Doesnt do this sort of thing but we saw this with president obama when he released five terrorists from gitmo and returned for the u. S. Soldier and that would encourage the terrorists to try to take u. S. Hostages. That is my concern so i would say the answer is do not negotiate with terrorists, do not pay ransoms because those people looking to get the ransom money, they know who pays and that is to their targeting and now looks like specifically of french. Stuart did you know about this before hand . You are on the Senate Foreign relations committee, was this a shock when you saw it in the times . Was a surprise to anyone on capitol hill to see how much money is involved. When you see three suitcases with 5 million, the way the money is counted out on blankets and the way the countries who are paying it tried to disguise it by having it listed as humanitarian aid. Stuart you have an editorial in the investor business daily. You are pretty harsh about harry reid. You say he is blocking progress on energy, jobs, corporate taxes. Make your case, you have thirtysecond. Dozens of bills have passed the house that are sitting in the senate right now and passed with bipartisan, good numbers of democrats and a majority of republicans that can put more americans to work today if harry reid would allow a vote. He is not allowing the votes. There are ten right now that would improve jobs and the economy that have to do with education, energy, health care, government red tape. We should pass those before we go on recess. Stuart white house is out with a statement saying the president is trying to get these measures especially infrastructure spending. He is trying to do this. Harry reid takes his direction from president obama. The president has his fingers crossed on this one. He does not want bills coming from congress to the desk. We are seeing president obama telling harry reid to continue blocking amendments and bills. They are stacked up in the senate. Of the president wanted to act on these you could be a short harry reid would call for the votes. We could get 60 votes today on each of these ten bipartisan bills if harry reid will allow the vote in the United States senate. Stuart thank you for joining us. Lets get to that gdp report, 4 annualized growth in the spring months. Complete reversal of earlier retraction. The administration taking that clearly, dialing up the rhetoric again. The economy could do even better if congress does its part to help studding with taking steps to make sure working out roads and bridgeses is not brought to a halt but to make further progress the president is pressing ahead on his own authority taking investments in American Manufacturing and energy and infrastructure. Mary kissel with the Editorial Board is here. What you think of the 4 annualized growth in the Second Quarter . With apologies to larry david you have to curb your enthusiasm with this number. It is a good number but the First Quarter was terrible and when you the emanual ice figure you are talking 2 annualized growth over the last two years and even that has been ratcheted down 2. 2 . A lot of this was inventory buildup. Stuart when you say was a rotten First Quarter, got that. The Second Quarter just made up for all the stuff we didnt do is then. We did in the Second Quarter. Does it go for the third and Fourth Quarter . We hope is but a larger picture is you are looking at 2 annualized growth comment and we are in the fifth year of a recovery. This is not a normal recovery. Unfortunately, it will be difficult for the economy to achieve this growth rate over the next stuart dow industrial averages close on 80 points. Was up 70 points when the market opened a couple hours ago because of the strong gdp report. Is it possible everyone is wearing the Federal Reserve reported 2 15 . Is that holding it down . What was important is what he just said to you, as that there are bipartisan bills in the senate expediting exports, and reform, all sorts of things where there is a bipartisan majority. It is a great number but i wish we could do more. Congress is ready to do more. The president is banking on the American People are not looking at what is going on. Stuart the market did turn south about the time the president put out that statement. That is very interesting. Check the share price of twitter, made a ton of money last quarter and signed up an extra 16 million users and they claim and to 71 active monthly users. You say this news from twitter google. Make your case. There are two reasons this is bad for google. The reason this is bad for google is advertisers are moving dollars from search into social and the reason for that, new capturing demand, and it was fantastic for creating brand awareness. We have dollars coming into social, hurting google. The other reason for that is google operates the biggest display network. What we are seeing is the cp ands for display ads continue to go down. Advertisers are looking for ways to drive more engagements because people dont click on ban ads. Advertisers are moving away from native forms of advertising. That sponsored stories, tweets and publishers are taking those display tags and removing them from their sites so this is a very small part of the market. Overtime it will impact google. Stuart if it is bad for google is obviously good numbers from twitter. How good are those numbers . How good are they . 120 and Revenue Growth this quarter is impressive and lets not forget that i was here last week talking facebooks Revenue Growth. You are seeing advertisers start to understand the social space, investing more money in it and it is driving the results they are looking for. Stuart it was a surprise. Stuart we will get 20 . I dont see it is 33 in afterhours. I dont think anybody predicted that. Stuart kid murphy, appreciate your help on social networking issues. You know what were talking about. Come and see us again soon. The Health Insurers, this is the group dragging the market down. Why are they down . Lets start with that. Health reform, and United Health, and it is down 6 . Talking about profit in the Second Quarter falling due to the investments they make. With president obamas health care reform, the new laws that are in place take a look at names like well point and etna throughout the day. They started in the green and well point in new high through the day. Just before 9 45 when we get a conference call, and that dropped the market into the red as well and theres a great and today charge showing the crisscross on the unchanged line. Stuart hold on a second. I have mary kissel here, you are shaking your head. The irony is amazing. These healthcare insurers are the one who got in bed with the Obama Administration. Stuart they got loud profits lousy profits, they both get a bailout. They are going to get government money. The irony is incredible. Of the one i got you. What is with amgen . We talk about arthritis drug, a new cholesterol drug in the pipeline. As of 5 , they have been cutting their work force and plan on cutting the work force 15 . Stock hit a new high, and First Quarter insiders. It is not a big deal, not to see this great move and as they noted they were flashing 2400 to 2900 jobs primarily in the u. S. This year and next. Stuart the success of the arthritis drugv embrol intrigues me. The National Labor Relations Board takes a swipe at mcdonalds and its franchisees. Opening the door to a flood of lawsuits may mean unions, the businesses could be affected. The judge on that is next. The to check the date board. 6800 is where we are right now. The stock was up earlier. Not now, though. Discussed stories for soda stream. A 10 gain. Look at mcdonalds. That stock is down. Here is the opinion. They are joining for labor and wage violations. This extends liability. Now they can go after that deep pockets of mcdonalds, the corporation. I will express the opinion. It is a politicized grueling. It is written by people who share presence mindset that the purpose is the instrument to be to expand this. No question that. It is usually to expand the domain of management. Nevertheless, this is an opinion from general counsel who conduct and investigation through 181 complaint filed by make donald. That the mother should. That place is not owned by mcdonalds. It is owned by a company that has a relationship with the donald. These companies file labor complaints that gives the mothership. 61 of them are valid. 60 of them are not. Mcdonalds, the mothership, exercises such control over the franchisees that they should all be characterized as one big corporation. Therefore, the mothership can be liable for labor violations. Stuart it is a franchise operation. First of all, this is just the opening game of the lawyer. It issues a ruling. Then there is an appeal to that ml larvae itself. It will be many steps before these labor unions could claim victory on it. Stuart it shows where the nlrb is coming. Precisely. That is exactly what it does. It will also be a full employment act for plaintiff lawyers. Exactly. They will come out of the woodwork to file these complaints. It could be anywhere. Stuart these are the lawyers that contributed. The whole point of this is to give entrepreneurs an opportunity to run a small business. What is this going to do . If it raises the legal costs, it will force them to charge more. Not just to their customers, but the owners of their businesses. You were talking about hotels. All kinds of businesses are franchise businesses. The department of labor, he is a Boston University academic. He has made his name on sustaining franchises. They are watching us now. More sleepless nights come to pass. There are entrepreneurs all over the country who are franchisees of other entities that that nlrb will continue to look at. Everybodys cost go up. Homebuilders, hotels, restaurants. Something that probably will not go up, union dues. Stuart are you a lawyer . I am still a lawyer, but i am very skeptical. I was rehearsed very frequently when i drew these cases out. You see the balcony in my court. You might as well put records. Stuart i am waiting for a Public Administration to say that we are on call. I suggest that you do not hold your breath. A really good pr. This is the future of advertising. It just may bring a tear to your eye. I will bring it to you next. She has cancer and she has an operation on tuesday. I want to thank you. Descartes comes out for you there. There is a check for 1000. No way. You used to sleep like a champ then boom. What happened . Life happened. Stress. Fun. Bad habits. Kids. Kids. Kids. Now what . Not milk. Not sheep. Not that. Lets think smarter. Lets get some science in here. Lets build a bed. Another bed . No, a smarter bed a entirely new sleep number bed that tracks your movement, your heartbeat, your breathing sensors working directly with the dual air chambers yeah you need the air chambers. Introducing the sleep number bed now with sleepiq technology. It tracks your sleep patterns and tells you how to adjust for. A good nights sleep, a better night, and an awesome night. So what sleep number adjustments make the difference . Try cranking it up . Adjust it down . A little bubbly . Or nix the late night flicks . Wait, youll know what works, cuz sleepiq™ technology tells you. And all you have to do is sleep. Which is easy. Only at a sleep number store, mattresses with sleepiq start at just 999. 98 because everyone deserves a great nights sleep. Know better sleep with sleep number. I always thought i would make enough money to pay off my Student Loans can be a world champion. I undershot myself, obviously. Stuart it really is not everyday that you get to meet a boxer that is a premed student. Is that correct . Stuart it will make him a millionaire. Here is a real feelgood story. Today, we have one that did it the right way. Td bank turned several of its atms into automated banking machines. The person behind the atm mentions personal details. Hardships. Listen to what happened next. I have a secret to tell you. Something right there for you. Those are tickets. I am serious. You are going to see your daughter in trinidad. Thank you. No, thank you, dorothy. Stuart i think that is terrific. The video went viral. Mary kissel is here. It is a very nice ad. Sentimental sappy ads. I think that thinking is so regulated that they are looking for different ways. Stuart are you here for the entire hour . [laughter] stuart tomorrow we have the ceo in president of the trust. Tim harkey tomorrow on this program. New york times calling for Legal Marijuana at the federal level. He will make his case after this. Stuart sprint springs to a profit. Now it is down. Look at it goes down. Fort team percent. That is a hit. Take a look at the big Health Insurers. Looking to be related to obamacare. Down they go today. New emails show white house advisor played a big role in getting a taxpayer bailout for the Health Insurers into the obamacare legislation. She simply pushed it into the legislation. The larger story here is it runs into the white house. Obamacare is working. We know that is not true. They wanted more money because they have to push up prices because they are getting people to old, 26. Another reason why republicans think they will win the senate in september. Remember, it will never get repealed. Stuart when and how much will be paid to the insurer errs. These are called risc core doors. The premiums will go up for the recipients. They do not like these bailouts either. If they want to repeal them, the insurers are the ones that have to pay. Politically, that is difficult for them. Here is the quote. It has been more than 40 years since Congress Passed a current ban on marijuana just to prohibit a substance far less dangerous than alcohol. They should repeal the ban on marijuana. We are joined now by a man who is against the sale of the local marijuana on a state and federal level. I will raise three points that are favored by those that want legalization. 1. Marijuana is not as bad, not as dangerous as alcohol. The question is not whether it is safer or not, marijuana is dangerous on its own. I will offer you a rattlesnake or a cobra. Which one is safer . Marijuana is a very dangerous drug. It should not be legalized. One is stoned and one is drunk. We have people driving on streets that are high. Marijuana, and alcohol is dangerous. Stuart i am glad you are with us. These are important. If i am not hurting someone else, why does it matter . That is a ridiculous question. That is if you can smoke dope and get high and not hurt anyone else. Addiction and dope and drugs are not a separate situation. General mccaffrey said that an addict commits 100 crimes a year. Are you kidding me . It is an all inclusive crime. Yes, sir, even the dog in my house suffered. It is an all inclusive problem, sir. Stuart what about the tax revenue . At the moment, it is illegal. Make it legal and you get tax revenue. They say the same thing about alcohol and tobacco. Alcohol use is costing the state 185 billion a year. They are only collecting 14. 5. That could cost us 200 billion a year. Listen, follow the trend. You really think that by legalizing marijuana it will be different . President obama, get your act together, my friend. Stuart would you ban alcohol and tobacco . Absolutely. It is all dangerous. It is taking lives. It is ruining families. It is ruining communities. I am just so sorry that our federal government have elected to take the money and run and not care about the lives of the citizens of the United States. Stuart i just wanted to put your side into perspective. Thank you. Thank you for the opportunity stuart more proof that content is king. Seinfeld could be coming to netflix. That would make a lot of people happy. What do we have . An idea. What idea . An idea for the show. I still do not know what the idea is. It is about muffins. We have an idea for the show about nothing. They say what is your show about. I say nothing. There you go. Nicole i am Nicole Petallides with your fox business brief. Stocks turned negative. The dow is down 70 points at the moment. Cocacola and work under pressure. Take a look at our winners. Take a look at the restaurant stock. Buffalo wild wings. Ruby tuesday. They are not faring as well. Take a look here. Firstquarter revenue has been on the rise. E cigarette sales have flipped some. We are seeing pressure. That is down 1 . Seinfeld coming to netflix. We will have much more for you on varney company. We never thought wed be farming wind out here. Its not just building jobs here, its helping our community. Siemens location here has just received a major order of wind turbines. It puts a huge smile on my face. Cause im like, this is what we do. the fact that iowa is leading the way in wind energy, im so proud, like, its just amazing. Let that phrase sit with you for a second. Unlimited. As in, no limits on your hardearned cash back. As in no more dealing with those rotating categories. The quicksilver card from capital one. Unlimited 1. 5 cash back on everything you purchase, every day. Dont settle for anything less. Ill keep asking. Whats in your wallet . Stuart protesters in San Francisco slapping stickers on airbnb rentals. Why would they do that . Protesters say the stickers say the apartments in this building have been illegally o move intofor hotel renters. The home, you can legally use it to your tenants. What we are seeing them do is use it to pick people out and rent out homes on airbnb. This is their statement there. The irony here is airbnb was found about five years ago and San Francisco when the cofounders could not make their rent. Stuart i used to live there. Believe me. Look at netflix go off again today. And talks for seinfeld. If this happens, you can stream and pinch watch seinfeld on netflix. Yes. If you like seinfeld, yeah, it is a win for netflix. Stuart you are so coldhearted. Fraser was better. Cold water over the bank that is doing nice things. Seinfeld, oh, that is not funny. I suppose it will be good for netflix. I am the guy with a heart. I am the guy that was almost brought to tears by td bank. All right, mary. Stayed there. There is another 13 minutes to go in this hour. The economy. The economy is growing by 4 at an annual rate. The Obama Administration. A pretty good number. With will figure this out for you in a moment. Friday night, buddy. You are gonna need a wingman. And my cash back keeps the party going. But my Airline Miles take it worldwide. [ male announcer ] it shouldnt be this hard. With creditcards. Com, its easy to search hundreds of cards and apply online. Creditcards. Com. Stuart td the report. Lets bring in stephen moore. He rejoined us frequently. I have never believed we were about to expand. After that, should i change my mind. What is negative two plus four. We are still at that rut. This was a good report. Most importantly, businesses started to spend again. It is a positive report. If you look longerterm, we cannot break out of the 2 rut. A big surge in the economy. Stuart you have a nice job. Government. Government is doing everything it possibly can. The gas industry, the oil industry. What is washington doing right now . The epa trying to impose new regulations to slow down that industry or even to kill it. You talked about obamacare and its impact on employment. All these things of these things are a wet blanket on the economy. We love the free market system and entrepreneurs. I would love to see this 4 sustainable. That is exactly what we need to get america working again. Stuart mary kissel and i were talking to him. There are countless bipartisan bills that have gone through the house. Waiting to be adopted by the senate. These are bills that will increase spending on infrastructure, for example. Charter school expansion. The keystone pipeline. Let me add another one to that. A big one that should be front and center right now, stuart and mary, reducing our Corporate Income tax rate. It is a travesty that we have the highest corporate rate. This is happening all over the country. Stuart the president does not want to do anything about it. It is congress. It is republicans. The American People look to the president for leadership. It has been harry reid. Why cant we get a roll call vote in the senate. It is a nobrainer. It is a project that doesnt need to cost the government a penny. Stuart the president wants to keep taking money from various wealthy greenies. I agree with that entirely. Guess what also grew in the Second Quarter . Government grew again. Stuart this full calendar, just look at the calendar year 2014. Another repeat performance. I will say we will get up to 3 growth this year. Stuart all right. 3 would be a big improvement. Thank you very much. Stuart thank you very much, indeed, sir. New at noon, the latest hearing on capitol hill. John boehner, talks of impeachment are not coming from him. He said it is the democrats. They are using the issue to raise money. Also, a restaurant says no kids. Their customers want to eat in peace. What do you think about that . I will give you my take on conspiracy theory. A once in a lifetime poker hand. Millions on the line. Jampacked second hour two minutes away. Dentures are very different to real teeth. Theyre about 10 times softer and may have surface pores where bacteria can multiply. Polident kills 99. 99 of odor causing bacteria and helps dissolve stains. Thats why i recommend polident. [ male announcer ] cleaner, fresher, brighter every day. [ male [b ll rings]cleaner, time and sales data. Splitsecond stats. Its so close to the options floor, youll bust your brainbox. All on thinkorswim, from td ameritrade. Stuart here we go. Facebook. You may not like it. They will make more money. What is the status of the debate . Jesse ventura takes 1. 8 million. Ive got an opinion on that. Looking for a republican in congress. Yes, we are looking at about 4 gdp growth rate. Welcome, everyone, to the second hour. Stuart 168 is where we are. Down the health socks with. Now look at the 10 year treasury yield. The yield went back up. All the way to 2. 53 . A big loss for prices. Twitter. There is a winner. We are seeing the stock story today. Of 20 . They did really stop the slowdown. That was a major concern. They rose better than expected 24 . Circulated about a world cup. That is part of it. I know that you enjoyed that. I almost want to say i have two pages of it. Every analyst on wall street raising their price target today. Remember the highs were above 70. Stuart hold on a second. A new hour. He is looking grim. He is shaking his head. With you by a company for 20 billion. All of these analysts are playing this game. I would facebook another story. I am told that twitter makes half the amount of money for each user on facebook. If that is an accurate statistic, i take your point. They only make 121 million. They make no money. That is how investors need to look at this. Today, we are trying to do the same thing. Trying to get more business from snap chat. They do not make any money. Buyer beware, facebook is a whole different story. They are making money. Righ now, you have a promise. Stuart breaking away from the markets for a second. The hearing is going on now. Our viewers are fired up about the irs scandal. You are pressuring the attorney general. Get a prosecutor. Get to the bottom of this. It will be years under the curtain. We went back and forth, stuart. No one will be prosecuted. When the president. Judges the outcome of the case and basically sends a message to the attorney when he says there is no corruption. When the lead attorney is a contributor and lastly, when james cole, the number two guy at just in our committee, i ask him when did you learn about the lost emails. He said when the press report came out. We want those emails under the frequent information act. We have had some success with that. My vote is lets use all options. I agree with you. I am all for those. This is targeting your most fundamental rights. A political fashion against your over map. That is why this is so critical. Stuart i will go further than that. I think the president political opponents were intimidated. I think that election was interfered with. When the questions were how often do you meet, who is the head of organizations . The chilling impact is unquestionable. That took place right before the election. Take a look at the share price of facebook, please. They are telling users download a dedicated message app if you want to keep using the service. That means they are splitting that app. The stock is up. Have i got it right . They split the app. They are breaking out the messaging app. It is going to be a standalone app. Instead of having one facebook app, you will have two apps. Stuart i am told that this is unpopular with users. Also some of the older users may not be so happy about it. They do not want to have so many apps on their phone. Younger users maybe not so much. They do not mind making the changes. They are not doing this to annoy older people and turn on younger people. They are doing it to make more money. Mark zuckerberg has said he really wants to invest in messenger. Here is a way to do that. Younger people are interested in this sort of thing. A lot of those younger users are shying away from facebook. Explain it to an older photo like myself. What is the difference . A way to constantly connect with your friends. Totally free. They can target things with ads and things like that. Another place to put ads. Exactly. This is two different places. My grandchildren are from australia and new zealand. I like that. Stuart next. Individual stocks. Amgen hitting a new high. The stock hit 131 earlier. Now it is 129. A tobacco company. Profits down. Hurt by lower east egg sales. Buffalo wild wings. Disappointing. All you have to do is say disappoint. What are you laughing at . I like the sauces. Look at this, please. 18 of the population, 57 million people. Older folks are moving back in for economic reasons. The pressure on that middle generation is enormous. People like me, i am a baby boomer. And lots of us are taking in our parents. That is the multi generational thing. A lot of mouths to feed. And lots of responsibility. I have friends of mine that are moving back to dallas from california. It will never happen in my household that my inlaws move in with me. [laughter] it is not happening. Stuart i think it is that for housing. A tremendous dream. They cannot make things be. Younger people cannot find jobs. There is no choice other than somebody finding a much smaller home. May be rewards in the next world. Stuart House Speaker john boehner. Talks of impeaching president obama is a scam. Fundraising for the november election. We will discuss that after this. Stuart i want to get back for the gdp number. The expansion rate for the economy. From chicago, trey can at the show. Number one, what time is the president press conference . I will be coming up. Just in the second now. The best thing to happen to gdp numbers, the Midterm Election of 2010. By the way, make sure you turn off his microphone. You will not give any grades to the idea that this is a solid rebound. I am not this man is saying it. Are we going to continue to be applied to . I have a sneaking suspicion that all we will do is continue to move the goalposts. We expect rates to rise. Retired people right now should be throwing their televisions off of the balcony when they hear janet yellen talk. We do not need consumption. Stuart ed is here. First of all, they changed the algorithm. You look this up. It is factual. If you look at it, that outgrew them sheet, name one policy that the president has put in place that will help the economy. Stuart this is just a rebound from the negative news in the First Quarter. Replacing what we did do in the First Quarter. As smart as it gets in this business. Like i said, keep an eye on bond prices. Keep an eye on what janet yellen says. We are paying zero Interest Rates because that is all i can afford. Government spent a lot more. Really start looking at those numbers. It is hard to compare one quarter versus the other. Listen to House Speaker john boehner. It is all a scam started by democrats at the white house. Richard fowler is here. Welcome back to the program. Can you name a single Congressional Republicans that has said we will impeach the president . I can name a couple. The list goes on and on. Stuart i think you are building the case based on a couple of random comments here. Building the case that the republicans want to impeach the president and they are doing it to raise a lot of money. I think that is what is going on here. I think they want to sue the president. They want to have endless Committee Hearings over and over again about the same topic. I think that democrats are capitalizing on the fact that republicans are such stuart could it backfire . You are raising a great deal of money. It is not going down well. You are making a lot of money out of this. I really think it could backfire. If it does backfire, it will not backfire until all the other stories backfire. I have breaking news about a new lois lerner email. There is a 60 chance. A 60 likelihood that republicans will sleep and when the election with the senate. Look at what is happening. Democrats are leading. Whether it is in georgia, kentucky, louisiana, north carolina. It will be a very small margin. It has everything to do with the emerging elect or it. Seniors and independence are now leading 6070 towards republicans. They are heavy dude heavyduty voters. I hear that, stuart. You are not holding young people. A lot of them do not have home telephones. On likely voters showed up at the polls. I think in this particular election, there is so much at stake for those voters. Stuart student loan bailout. It is not a bailout. Stuart if you could gin up impeachment talk, i can certainly go full bore with student loan bailout. It is not a bailout. It is refinance. Stuart it is just my judgment, richard. [laughter] stuart good to have you here again, sir. See you soon. Conspiracy theories. Jesse ventura awarded money after suing the estate of a navy seal. My take on this it is torture. I can speak from experience. What are you suggesting happened . The government does things to get us into wars. They do not follow any of the rules. They are mercenaries. That is what we are turning into today. We are turning into contract killers. In new york state, were changing the way we do business, with startup ny. Weve created tax free zones throughout the state. And startup ny companies will be investing hundreds of millions of dollars in jobs and infrastructure. Thanks to startup ny, businesses can operate tax free for 10 years. No property tax. No business tax. And no sales tax. Which means more growth for your business, and more jobs. Its not just business as usual. See how new york can help your business grow, at startup. Ny. Gov stuart conspiracy theorist Jesse Ventura wins in court. He is taking 1. 8 million from the widow of a navy seal. Here is my take. Jesse ventura appeared twice on this program. That was more than enough. In his very loud voice the claim the government brought down the twin towers on 9 11, an inside job, he says, without presenting a shred of evidence. Chris, oil was a decorated navy seal who wrote a book about his exploits. In that book he said he had a fight with Jesse Ventura in a bar. Jesse ventura e rose had bad mouthed the seals and america, hence the fight. Jesse ventura suit claiming he never said that and that the book had ruined his moneymaking opportunities. Jesse ventura won. Two problems with this. First, how could a jury believe Jesse Ventura . We had him on tape bad mouthing America Calling it the fascist states of america and he called the seals contract killers. He is believable . I should add chris kyle only appeared at the trial in a deposition that was taped before his death. The jury believed the conspiracy theorists and took money from a heros widow. Second, i have trouble seeing people like Jesse Ventura win anything. He would say anything for attention and money and his statements on 9 11 are in my opinion detestable. After the verdict Jesse Ventura put out a statement saying there are no winners here. He may be right about that but there was one big loser. It is you, Jesse Ventura. You are a disgrace. vo rush hour around here starts at 6 30 a. M. On the nose. But for me, it starts with the opening bell. And the rush i get, lasts way more than an hour. announcer at scottrade, we share your passion for trading. Thats why weve built powerful technology to alert you to your next opportunity. Because at scottrade, our passion is to power yours. Stuart new developments in the irs scandal, newly discovered email exchange that reveals lois lerners clear animosity toward conservatives. Heres a little from the email obtained by House Oversight chairman dave camp. The direct quote, we dont need to worry about alien terrorists, it is our own crazies that will take us down with theres a lot more of this. Liz macdonald has seen all of this and will report, what else does she say . Liz we are confirming the house ways and means chairman, louis lerner also referring to conservatives including the tea party crowd as, quote, blank holes. You imagine what that means. Stuart that is in the email . Liz that is in the email. We are confirming this. Stuart she is saying, she is denigrating conservatives using a nasty name and then, dont have to worry about alien terrorists, this bunch we have got to worry about. Liz mr camp is using this in a letter he sent to eric holder, the attorney general saying we need a special counsel now because this reveals a personal animus and hostility, toward conservatives and tea party groups. Whether eric holder will return to this remains to be seen, we will be checking on that and bring you the latest on it. Stuart i will give you slim and none chances eric holder appoint a special prosecutor. This came up dated 1192012. Now within the time period the emails were lost. These are emails ways and means continue to pull out from lois lerners computer account. November 12th of 2012. Stuart would have been after the election of 2012. Liz is not a miss is the mysterious period of missing emails. That is good stuff. We have been covering the topic of federal legalization of marijuana. Listen the New York Times says yes, go ahead and legalize it. On the show earlier this morning Bishop Ron Allen had something to say about that. Marijuana and alcohol, the question is not that one or safer than the other, scientific facts prove marijuana is dangerous. Stuart what does dr. Keith tableau think of federal legalization of marijuana . What do you think . I dont think that is going to happen any time soon that the feds will legalize marijuana. I think they should. Most drugs should be legal and the revenue we raise should pay for treatment because marijuana is going to cause a lot of people have trouble with their Mental Health and we need to educate people. Stuart that is what i want to know about. You are a psychologist and you are telling us frequent use of marijuana at any age results in mental problems. Spell it out, what problems . Not for everybody. People can use alcohol, many dabble in cocaine, that is the truth but people think it is innocuous to use marijuana when i have seen people get depressed from it, become psychotic from over use of marijuana. I have seen people lose their motivation, i have seen people develop Anxiety Disorders from over use of marijuana. These things happen. They will happen in large numbers and we need to get ready. Stuart you should know the dangers of front before you get into it. I want to get your reaction to that restaurant in california. They banned diners from bringing their children into the restaurant. We dont like crying kids, they spelled it out. How do you feel about that . It is unfortunate but it is their right of the Restaurant Owners want to run their businesses that way, if people dont shun them and they can continue to turn a profit that is up to them. Is an adult only restaurant. I dont think children are protected class in their regard. Stuart dating site of k cupid says when it comes to experimenting on their own users of that site, that is okay because the users have agreed to the terms and conditions right up front. I know you hate social networks, and i know that. I presume you hate the idea they will use their users as guinea pigs. Listen, stuart, i dont think people read the fine print. Can you imagine, when facebook did this they manipulated news feeds to make people feel better or worse and noticed they could make their moods change. Here okay cupid, they want to study their customers to see when they feed them profiles of mismatchedes what happens . Things can happen. You can end up wasting time with a bad relationship, you can end of thinking of yourself i cant find anyone i care about. This is not okay. I am not sure this shouldnt require the same informed consent that a medical experiment requires and that is a much higher level. Stuart three subject, i agree with you and two of them. Tell me which one you dont. Stuart wont do that, keep the audience guessing. Torture. Stuart i hardly think so. It could be the social network thing. We dont always agree on that. Stuart i have got to think about this. Come back soon. I dont think you are boating for Jesse Ventura if he runs for president. Stuart did you hear what i had to say . I did. Stuart when you agree with me . I think the man at tends to paranoia. Stuart that is a clinical description. Very good. Another form of agreement. We will see you soon. Timothy, a youtube star makes a lot of money, six figures, putting that to good use pairingpaying off his parents mortgage and recorded their reaction. That is for the house. There you go. [laughing] this is a fun story. Of feelgood story, a 28yearold whose parents come from thailand, he quit college, said i want to make money in the entertainment business, posted these videos on youtube to make money from the advertising and made money on education. People disagree gum and worked out. Stuart he got our attention, he really did. They are telling me time is up. Shares of twitter surging. Mobile ad snaking the company a lot more money. Is it time to believe the hype . That is next. You make a great. Its been that way sincthe day you met. But your erectile dysfunction it could be a question of blood flow. Cialis tadalafil for daily use helps you be Ready Anytime the moments right. You can be more confident in your ability to be ready. And the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph like needing to go frequently or urgently. Tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. Do not take alis if you take nitrates for chest pain, as this may causan unsafe drop in blood pressure. Do not drink alcohol in excess with cialis. Side effects may include headache, upset stomach, delayed backache or muscle ache. To avoid longterm injury, seek immiate medical hp for an erection lasting more than 4 hours. If you have any sudden decrease or loss in hearing or vision, or if you have any allergic reactions such as rash, hives, swelling of the lips, tongue or throat, or difficulty breathing or swallowing, stop taking cialis and get medical help right away. Ask your doctor about cialis for daily use and a 30tablet free trial. Nicole i am Nicole Petallides with your fox business brief. Some coming of of the lows of the day, the dow is down 55 points. It had been higher in the early going up 75 points, nike, walt disney and visa are the best performers on the dow, United Health group and the Healthcare Group has been under pressure down 2. 5 . Take a look at dreamworks, dreamworks to the downside hitting a new low. The company, the sec is investigating the writedown on tour boat, the film, the 2013 film release, looking at that and the revenue dropped 43 for dreamworks. It is under pressure. Look at stern mover, sales slipping, demand for guns slipping, competition has been very aggressive with the price reductions. The market down 3. 4 . Goodyear tire and the pressure down 8 after weaker sales. More varney and Company Coming up and the real Halftime Report too. When folks think about what they get from alaska, they think salmon and energy. But the energy bp produces up here creates Something Else as well jobs all over america. Engineering and innovation jobs. Advanced Safety Systems technology. Shipping and manufacturing. Across the United States, bp supports more than a quarter million jobs. When we set up operation in one part of the country, people in other parts go to work. Thats not a coincidence. Its one more part of our commitment to america. Stuart welcome to a special real Halftime Report looking at sectors. Nicole petallides at the exchange, ed butowksi in new york and wall street journals Spencer Jacobs here too. Social media. Do you believe the hype on twitter . , all of a sudden believe the hype more than it did. Twitter has underperform facebook since its close on the first day of trading by 50 Percentage Points including 20 drop it had today. The news was better than expected. If you want to use a benchmark it is valued at 100 per active monthly user versus 150 for facebook. It is relatively cheap. Is it worth it . Difficult to say because social media is difficult to value. It doesnt make money but facebook is wildly overvalued any traditional metric you would use for a brick and mortar company, i personally am skeptical. Stuart saved the best for last. You wouldnt buy twitter. What about facebook . Hard to say. But facebook, absolutely, it is a Traditional Company that is in respect to making money. You want to buy companies that make money, the dont have a promise. What i by facebook . They are hitting on all cylinders, that revenue, earnings, doing a great job. Stuart give us a Progress Report on the other social media stock . Nicole that cleared this morning, social media doing very well. We hear about user growth for twitter, took the whole group up with it but that was a surprise, the active users. They didnt think they would throw down, the question is whether that will continue after the world cup. Looked at linkedin, yelp is up 6. 5 , groupon pulled into the red but linkedin of 3 . Stuart nice gain for linkedin the next sector is big tech. How about netflix, they are in talks to big seinfeld to the customers, is that a big deal . You could only you cant you can watch it on channel 11 in new york. You can stream it buds that involves big money. Hbo sold a bunch of old shows that had been off the air for many years, to amazon for 350 million, that is the phrase being discussed. Netflix spends 3 billion a year on original content. A very big price tag, very big chunk out of its budget but it needs to have these shows people preferred to binge watch to keep people coming in. That is the bottom line but it highlights the rising cost of content and competition for the content and dangerous thing about netflix is people dont appreciate how quickly costs are rising. Stuart seinfeld doesnt come in she. Next tech stock, amazon. They are talking about lowering their book prices to create more demand. They say that would bring in more money. It might. Possibly if we price everything exactly the same will we have broader distribution . Will more people participating buying books . And the tax code, reduce taxes and we will get more people participating in pain taxes. Amazon needs revenue. Amazon scares me to death when it comes to the tech stocks because they are bellwether and if they dont perform well lot of other Companies Come down as valuations change. Amazon needs money, amazon needs to make money and i am not a buyer of amazon. Stuart when i came in this morning i saw garlands doing well. Now it is down. What is going on . The only thing i can say is profittaking, looking to figure out why it was moving in negative territory, they dont just make gps system, and fitness watches. It is down 4. 4 . It did well for the latest quarter. Stuart next sector utilities. This is your turf. Electricity prices at a record high. Listen to what the president said about this at the beginning of the presidency. Under my plan of a cap and trade system, and electricity rates would necessarily skyrocket. Stuart what do you say about utilities now . Regardless what the president says or what he thinks he said, knows the difference these days . I am a buyer of utility stocks. It is not my entire portfolio. I have been waiting for long time but what im looking at is the problems i see in the world are from outside our borders in europe and other places so your insulated a little bit when you are buying utilities. Anyone afraid of the market but wants to be invested, look at x el you, id buy it all the time, full disclosure on that end. I will continue to buy a you have a 4 dividend and potentially growth and you can rest well with it. Stuart got it. That is it for the real Halftime Report, thank you what randolph for being with us. Is being called the worst hand in professional poker history. Something you will probably never see again. More on this after the break. Out of the tournament as long as ive lived in iowa, theres always been wind. strauss blue danube playing ive got a nice long life ahead. Big plans. So when i found out medicare doesnt pay all my medical expenses, i looked at my options. Then i got a Medicare Supplement insurance plan. [ male announcer ] if youre eligible for medicare, you may know it only covers about 80 of your part b medical expenses. The rest is up to you. Call now and find out about an aarp Medicare Supplement insurance plan, insured by unitedhealthcare insurance company. Like all standardized Medicare Supplement insurance plans, it helps pick up some of what medicare doesnt pay. And could save you in outofpocket medical costs. To me, relationships matter. Ive been with my doctor for 12 years. Now i know ill be able to stick with him. [ male announcer ] with these types of plans, youll be able to visit any doctor or hospital that accepts medicare patients. Plus, there are no networks, and virtually no referrals needed. So dont wait. Call now and request this free decision guide to help you better understand medicare. And which aarp Medicare Supplement plan might be best for you. Theres a wide range to choose from. We love to travel and theres so much more to see. So we found a plan that can travel with us. Anywhere in the country. [ male announcer ] join the millions of people who have already enrolled in the only Medicare Supplement insurance plans endorsed by aarp, an Organization Serving the needs of people 50 and over for generations. Remember, all Medicare Supplement insurance plans help cover what medicare doesnt pay. And could save you in outofpocket medical costs. Call now to request your free decision guide. And learn more about the kinds of plans that will be here for you now and down the road. I have a lifetime of experience. So i know how important that is. Stuart take a look at this. With a professional poker players in the world series of poker. A pair of aces virtually guaranteed a winning hand. Both players go all in, put all their money in the pot. The player with the ace of hearts ended up with the flush busting his opponent. Look at this. Flushed out of this tournament. Flushed out of this tournament 1 million, wiped out. What are the odds of that happening. The final thing happening, one in 49, a 2 chance to win a 2 chance to lose and a 96 chance to tie. Stuart somebody del two aces, they go all in. Is the 1 million buying and a guy with two laces losers. Ever seen that . I have never seen that before but there are worse things that happen to people all the time in poker. A great story. Stuart what could be worse than being dealt two aces, put a Million Dollars in and you are all in and you lose . What is worse than that . A pair of bases and the of the guys have two 3s is a bad b also. Anytime you have a pair of acess and lose that is a bad b. Stuart a Million Dollar buying and you lose it, i cant believe that. Thanks to your expertise, out of time. More varney next. Stuart my time is up but Dierdre Bolton has a lot of it. Dierdre i certainly do. Legendary take investor roger a macamee will tell me what he thinks about amazons global push and the cheapest tech stocks in the market. One of the most active investors in the countries here as well, he and sweater shares and we will get the results and the future of the social blogging co. And speaking of tech, reverend Jesse Jackson says the Obama Administration needs to scrutinize the industrys lack of diversity. Twitter, facebook, and the news to give labor force stats. My exclusive conversation with him later this hour. First job for the first time as a Public Company twitter delivering for its investors. It reported a 124 increase in year on year revenue, 89 from ad revenue of, of that, 81 came from mobile labs. The stock is still soaring but still if you compared twitter to facebook you will see twitter still relatively small. Take a look at the stats. Facebook