Transcripts For FBC FOX Business After The Bell 20130808 : v

FBC FOX Business After The Bell August 8, 2013

Eight civil and criminal investigation. Looking at the efforts to sell mortgagebacked securities. 20052007. Liz according to a person close to the matter, Soros Fund Management has withdrawn all of its money from the Pershing Square company. The fund had less than 250 million with the firm. Of course they will battle over dillon the sec. David the family that owns the New York Times is declaring that the newspaper is not for sale. The chairman and publisher added that they were stunned by the announcement of the Washington Post sale to amazon ceo. Liz cbs confirming that the network has resumed talks with Time Warner Cable. Cbs has been blacked out for more than 3 million Time Warner Cable customers for a whole week david the president of the fed reserve bank of cleveland announcing that she will retire early next year. Also joins that the cleveland fed has led the bank since 2003. Right now in a nonvoting member, but there will mr. There. After the bell starts right now. Liz we begin with earnings news from lions gate. Adam shapiro has it. Reporter propeling new stuff. Less the listen to this. Adjusted earnings per share, 0. 18. Street expecting eight on revenue of 569 million. Point the finger at the hundred games. Here is what the chief executive officer said. We are pleased with First Quarter results with strong contributions. It goes on to say the fact that our quarter compares favorably, it illustrates the diversity of our business. They are ready to do more with this. We will break it down, but it is upbeat on both lines. David the only surprise is what is happening after hours, and the answer is not much. 3 the stock has already been bid up quite a bit. A huge be on both the bottom and the tumpline. Again, the new hundred and stamina november. Everyone knows i will see deadliest 459 to 545. Liz a series of books, an avid acquired the Television Rights to crossfire. Its a model that has worked very well for them. David doing the deal with netflix, this new series called orange is the new black. By the way, a lot of people are not going to be buying the dvd of the new hundred games because they realize it is available for free because of this relationship they have. That may cannibalize some of their dvd sales and a new hundred dams and some other products. Bottom line as they are selling a lot of their product. Liz who want to bring in the analyst. David we do, indeed. He joins us from the chicago cme. Also, jamie cards is with us, Harris Financial Group managing partner. Good to see. What do you think of lions gate . I think that it is better than disney. Thats all say about that. David thats not saying once. They have been doing so well. Im trying to stay away from all that speculation. All i know is that decides whether traders believe to be a good movie, it is really not one member year david i have to interrupt you because we go from hunger games to William Shatner at priceline. Another beat on both lines. And earnings per share of 9. 70. Expecting 9. 306 on revenue of over one and a half billion. Just to give you an idea, they are expecting that the gross Domestic Travel bookings will be up 510 in the third quarter. International gross travel bookings in the third Fourth Quarter of 3239 percent, so expecting this growth will continue. Liz hotel and vacations for this current Earnings Release accounted for 48 percent of the total revenue. Not bad, up 44 . The look at this and say your done extraordinarily well. Perhaps the consumer out there traveling in taking vacations is strongly coming back. When you look at the back is trying to put a number of pier, but they have its right here. Liz taking exponentially. The jump over 1 percent on the earnings, but the new take a look go read without me. David estimated to be had 9 billion. They beat out on the gross travel bookings which is important. I want to bring back. This is a stark that over the past eight quarters the average moved after hours after it announces earnings was seven and threequarters percent, actually less than that. Jumping after hours, but less than it has in the past. Is that because it is an earnings in the gross travel bookings were expected . We have seen the sea in volume really like right now. Those exchanges that traders trade after hours which as been extremely light. I think more less you have seen a big drop down in volume. Laugh beating revenue, youre just seeing a slowdown in overall trading. That return as far as liz thanks to you, and who wanted to jamie because the were lower today by a considerable amount on the dow jones industrials. The index came fighting back. Not the biggest jump in the world, but you see resilience continue. You have a couple of sectors where you feel that people will do well if they are in memory now. I like technology. A couple of names there. I think technology has been sort of disregarded over the last couple of months as being a boring sector, not doing too well. Of a sudden we are starting to see Companies Come alive. I really like what ebay is doing, particularly with paypall. Some of the professors said that banks have no answer. They dont know how to overcome that trusted payment system. That is a huge competitive advantage for them. Companies, the Technology Companies that are at the intersection of Financial Services are really expected to do well in the coming months. Even apple has actually come back alive here of the last couple of weeks. Technology is a fantastic place to place bets right now for the coming quarter. David there is one thing they you have pointed out that is fascinating to me at any rate. Capital outlays of Companies Just have not been keeping up with their forward earnings and all which means that if the earnings continue to grow from these corporations they will have to spend money on more things, and that would directly benefit the tech sector, would it not . Business investment is heavily tech oriented which is one of the reasons i like it. Allpro cyclical. Almost anything in the cyclical area will benefit greatly from that Business Investment and will contribute heavily toward gdp growth which is good for all of us. Im excited about that and like to see is all the better. Gifford jobs, good for wealth, good for america, good for the dollar, good for all of us. What about Financial Services. Liz i want to get to that because the big financial lambs. Bank of america, loves to there. The department of justice considering lawsuits. Two names that at our are not in that space but are in Financial Services. I like the regional banks. Particularly in the southeast as the Housing Market in the southeast has improved, particularly in georgia and florida, suntrust has been in and that has not moved over the past couple of years. All of a sudden it has come from 27 to 35. It is a good place to be. The end curve is deepening. David before we go to break we will talk more about it after, we have to go back to priceline for a second because it is pumping again. They came out with another series of numbers that pleased investors after the market. And this is the kind of balance that we were expecting. That stock is now trading put up that board. There we go. Ended at 933, now at 963. Also the stock is jumping. What is going on . We will tell you after the break liz we wanted thank jamie and grace. In the meantime, ten minutes past the hour. The stock is up a staggering 110 so far this year with the recent acquisition of a major apple supplier. The growth of their could just be the beginning. David we talk to that man behind this huge rally, the ceo of Micron Technology, a chip maker that is being dragged down by the end of the pc era. He says not so. Of fall series that are benefiting high class phones and tablets and all sorts of stuff. His fox Business Interview, a first on stocks ahead in just a moment. Liz cashing in on the ipo frenzy. So far 117 have hit the market, and on average they have gained 33 year today. Up next, how you can get in on companies before they make their big debut. David also, tmobile u. S. Shares jumping as the Company Reports its largest Customer Growth in four years. What is driving the jump . We will talk to ed tmobile u. S. Ceos ahead. [ indistinct shouting ] [ male announcer ] time and sales data. Splitsecond stats. [ indistinct shouting ] its so close to the options floor. [ indistinct shouting, bell dinging ]. Youll bust your brain box. All onhinkorswim from td ameritrade. Liz the s p futures closing. Thats head back down to the pits of the cme. How are you . A news here. Off just a little bit after the close. Again, very light volume. The big thing here again is a huge move carried over from the break up overnight in china, great july numbers. And while exports did improve, and parts jumped over 9 percent from where was expected, almost 11 percent wycherley drags up copper, platinum, and gold. Shrugging off worries and finally had a pullback. Thats the big mens. Liz a two month high. Not that intimidating. Thankyou. David well, shares of priceline popping, better than expected earnings. Lets head back to nicole on the floor of the new york stock exchange. Shares were hesitant, but then all this set of numbers came out reporter there really are a lot of numbers that came out about priceline in particular. You cant deny that earnings per share be revenue, beat priceline. Certainly a stellar performer. Up in the aftermarket. Obviously it is a heavy stock. The bid and the 961 range, but up 30 . Rental cars up 46 , Airline Tickets up 2 . They did well with International Travel bookings as well as domestic gross travel booking. Uc up arrows across the board, and this is much like what we saw from the World Wide Corporation which soared. The travel industry and touch up packaging and vacation packaging of the extremely well. David you forgot the most important thing, all of those William Shatner ads. The power. Liz quite the ipo frenzy. More than six or seven tomorrow on wall street. So far we have seen 117 hit the market with the average return of about 33 year today from its offer price. David would names are ploys to to stand out the rest of the year . How can you get in on them before they join the market . Keating capitol ceo. As to why this is happening now. So much of it has to do a volatility. When that is low in the market ipos are high. And volatility is low there are a lot of ipos stock markets are performing very well, and most importantly ipos themselves are performing spectacularly. Those three ingredients are very potent combination. Liz the average ipo a jump 303 . So clearly this is an exciting time. Less talk about the actual companies themselves. Is there froth . Em little bit of excited, but it makes it dangerous. The quality is high. The underwriters are doing a terrific job with the pricing discipline. We have had strong aftermarket performance which is a sign that things are going well. Although there have been some very high flyers of my talk about, generally things are pressing with discipline and we are under control. David feel free to bring some names in here as we talk in general. The market has been very successful. What kind of Financial Service companies to lease the listing now . The theme of 2013 has been yields. Those kinds of Financial Services companies that provide some type of interest have been in very high demand. David like for example reads. Thats one category of Financial Services that has been a highflier. Master limited partnerships have been another. Those of been a big theme of the 2013 ipo market. Liz lets explain why you are an important player. Your son has the ability to invest in pre ipo names, so clearly there is an opportunity here that the regular joe schmo cannot get. How do you do it . That is exactly right. So it is a fund that focuses on three investments. A the whole strategy is to get an early before companies go public can participate in the transformation of value as Companies Move from private to public. What we try to do is create a Public Access vehicle so that an individual investor can buy a single stock and get access to a professionally managed and diversified portfolio. David i know you are limited in some extent. True car and silk road, what are those companies and what are they coming on line . Well, true car based in santa monica. They are an automotive and permission service that provides a no hassle car buying experience. They can go and get a guaranteed price incentive to get on line which is very much disrupting the car buying experience. The second that you mentioned, cell growth, a global provider of cloudbased Human Resources and that has really been a very strong team. All of the socalled software and service businesses, so profits right into that mold. Liz there you are. It is good to see you. Thank you for having me. David great guests coming right up, including a first on a fox Business Interview with the ceo chip maker micron. Liz what i quarter for tmobile. The stock has been on a tear. The wireless carrier ceo joins us to tell us how he is stealing customers from powerhouses like at t. You have to hear the offers theyre making. It may interest you. 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Common side effects include skin redness or irritation where applied, increased red blood cell count, headache, diarrhea, vomiting, and increase in psa. Ask your doctor abt e only underarm low t treatment, axiron. Liz breaking news on the embattled head to find. Charlie gasparino as it in that newsroom. Reporter the judge is basically saying that the discovery, the discovery that the sec was going to a give that sac is not going to happen. Sac capitol, the bids hedge fund that was recently indicted wanted the discovery from the sec in exchange said sustain the u. S. Department of justice case. That case is state as a request by the u. S. Attorneys office. They did not to hand over discovery. A lot of legal mumbo jumbo. The essentially a win for the government. The u. S. Attorney for the u. S. Seventh district wants the other investigation by the s ac sec stops so he can do his business and the judge said yes. The second reason it is a victory for the government is because the fund of steve cohen said we have no problem with just dealing with the Justice Department. They want to put us out of business, but we want something in return. We want to see the discovery that the other part of the government has and its administrative proceedings. The judge on that said no way. So this is very technical. It is a legalistic. It is the sort of incremental step. This is a minor victory for the government and somewhat of a fairly severe loss for sac capital. They did not get to see the evidence that the securities and Exchange Commission has against the ceo, steve cohen, and their administrative proceeding. There are two cases, an administrative proceeding for failure to supervise and the steve cohen as the company. There really would like to see what they have. The judge said no way. And he does not have to wwrry about the sec doing dual discovery, so it is very complicated and boils down to the fact that the government has a small and somewhat significant win in this whole drama. David good stuff. Thank you. Good for the government. Bad for steve cohen. Liz tmobile u. S. Seems to be getting its group back with the stock jumping more than 4 percent today after the Company Reported its Customer Base grew by more than 1 million people. That is the largest gain they have seen in four years. David what is driving all of this growth . With us now, ceo and president of tmobile usa. Thank you for coming. Congratulations. Last time this year you were losing customers by about and a half million. This time you gained 680,000 new subscribers. These are contract subscribers, the real money subscribers. Is it because of the fact you got all those new customers who were tired of giving at t had 2year lock in contract . Well, let me say it slightly differently because we waited a long time for this. This 600 an ads in key to, that was more than that total fell nance of verizon, at t, and sprint combined. So its a big deal. Its because of a couple of things. Several phases of what i call simplified pricing, no contracts, low upfront pricing. Then we launched the iphone as well as many time the and any time of great. If you take all of the devices sold, but says gross adds and upgrades, the halfhour muzzle its 29 . It was barely 21 percent. This was a much broader story than adding a device for the portfolio. It means it will continue. Liz great news certainly, but you cannot discount will was brought up

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