Transcripts For FBC Varney Company 20130723 : vimarsana.com

FBC Varney Company July 23, 2013

Its back to the recovering economy. And a sports scandal that ranks with Lance Armstrong. A new look at the royal baby. And happy birthday Monica Lewinsky who turns 40. Varney company is about to begin. Weve completely integrd every step of the process, making it easier to try filters and strategies. To get a list of equity options. Evaluate them with our p l callator. And execute faster with our more intuitive trade ticket. Im eg stevens, and i helped create fidelitys options platform. Its one more innovative reason serious investors are choosing fidelity. Now get 200 free trades when you open an account. Good morning, everyone, here is a headline to get us started. The pope is a capitalist. The holy father, saying, im quoting now, we risk having a generation that hasnt held a job, personal dignity comes from working, from earning your bread. Young people are in crisis. Sounds a lot like Ronald Reagan, doesnt he. And former reagan advisor weighs in. Theres an exploding story in sports. A whole lot more, too, ryan braun suspended for the rest of the season for violating the steroids policy and lying about his involvement for a long time. It will cost him more than 3 million in salary. More to the point, a fortune in endorsements, now and in the future. Hell return next season and make 15 million. Full details coming up and analysis from brian kill immediate next hour. Its another black eye for baseball. Netflix, basically the stock of the day at least in the early going, down big at the start, not as many subscribers as wall street hopes, and even though theres as many as h. B. O. Right now, netflix is set to open way, way down. And royal baby watch. Now were about to see the child who will be king and what about the name . We have the odds coming up. You can make money that way of course, or you can make money this way. Big names that you know, their stocks are in the news and they are moving. Netflix and ups more. The dow is going down a little bit, and closed at record high yesterday. See it happen in a moment. Say my name, say my name not for sure i like that movie. Id rather heard the bells peeling in london. We havent heard the name of the new prince. Smart money is george, its a favorite in poddy power in london. And youll see him during the show if he appears. A minute from the opening bell, here he is in chicago, larry levin. A record close. It looks like well be higher opening today. What is this a series of records . It is a series of records, almost like a broken record i guess youd have to say. 1700 is in play in the s p and and it will be interesting to see if people sell at 1700 and my guess most will ride the trend and buy at 1700 and well see that price today. I know youre a hot shot trader there in chicago, bring it down a notch or two. I dont think theyre taking advantage of this, am i wrong . If theyve got a 401 k , then its come back a little bit since 2008. No, if they made a ton of money, most are probably looking for jobs and not worried about the stock portfolio as much and thats a big part why people arent involved right now. Youre right, its an issue. Thank you very much indeed. The bell has rung, the trading has begun. Slightly to the upside. Now were up 24 points looking for a gain of 40 or 50 when we finally get completely going here. 15572 as of now. Netflix, its disappointed its investors and i think the stock has opened sharply lower, tell me, nicole. Its to the down side. And youve got to take this in perspective. Okay . Theyve got some growth. At midpoint of the range and s, theyve disappointed some analys analysts. And all are raising targets because their profit is on the rise and they continue to add subscribers, theyre not losing is your describers. Stuart yeah, 600,000 people paying 8 a month as far as the high can see, thats a revenue scream. If im not mistaken. And thank you. Two more big names reporting profits this morning, better than expected profits at dupont. Shares are up this year and look at that, that is a huge stock thats up 5 and thats a big gain. Ups reported lower profits. Especially on International Routes and that stock is up 19 this year and its virtually flat this morning an at 87. 88. Nicole, travelers is moving, which way . Its down 1. 3 . It had been up earlier. And the numbers and the profit estimates will beat. They beat the estimates for profit so that was good news for them and they had price increases, lower catastrophe costs to deal with and a resolution of tax and legal issues and made it through that. So, it was looking higher, but its pulling back, down 1. 3 for this dow component. Lets look at the big board for a second and we crossed 15,600, 55 points higher. 15,601 this tuesday morning. And president obama making a Campaign Style push to focus on the economy, starts tomorrow. Hes going to call for more spending. Lets bring in a former reagan economics advisor, art laffer. Lets suppose he gets his way, on education, preschool, manufacturing, will it work . Of course it wont. A poor person cant spend himself into wealth or prosperity and the government doesnt create sources it redistributes them. Every dollar done, caused damage to the economy. And the reason we had the Great Recession is because of the stimulus spending and fra ink frankly, the faster and further down it goes the better off the u. S. Economy it will be. I heard the reports we grew 1 in in1. 8 . Hes raised taxes in the last year or two on productive factors, you cant tax an economy into prosperity and youve got all of this going on in the poorly constructed renovation. We have the single worst recovery you know, stuart, in the history of the United States and as far below the next worse as the next worse is below the best. Its a terrible economy and also in gdp as you mentioned, its not better and continually trying the same old mistaken policies. I want your thoughts on what pope francis had to say about young people and work. He said that personal dignity comes from working, made a big point of saying that on the trip to brazil. I said earlier, that reminds me of Ronald Reagan . No one is proud of living on handouts. You know, to get selfesteem and bride. You need a high paying job. And john f. Kennedy said the best form of welfare is a high paying job. T and hes completely correct and i wish hed come to the u. S. And tell obama that as well. Stuart theres a moral component to work, isnt there . A huge moral component. You feel great when youve done a good job. Whether its mowing the lawn or writing a paper. Very gratifying and fulfilling and you make some money and thats not bad either, but when they take away the monetary incentive from the process, you dont have the jobs for young people and you have a catastrophic situation in the u. S. Which will last. The damage done will last for generations literally. These young people who have not had jobs for three or four years become unemployable. After being unemployable for three or four years, they become hostile and then you have to spend a fortune trying to protect yourself from them and thats not the way to run a country. Its just plain not. We need enterprise zones and a low rate flat tax and get the heck out of the way and let the economy cure itself. Im tempted to give you the show, but thanks very much. Stuart hook eke eke eke ehoo kr here is a story, theres a some are saying that theyre shipping the metal and driving up prices and accused of skimming off the top for the worldwide aluminum market. Rich edson joins us. Im a simple guy, help me understand how Goldman Sachs allegedly is skimming money out of the aluminum market. Go. Here is the deal. Bloomer millercoors says firms like Goldman Sachs, and j. P. Morgan and others are holding up, driving the 3 million premium and the subsidiaries own warehouses and buyers are saying that theyre creating a bottle neck to create a needless shortage and drives up the price and others argue that theyre storing the metal until the investigators who own it decide to sell it to companies who use it. Congress an examining it this morning and looking into whether banks should be able to control warehouses and officials are reviewing the 2003 ruling allowing banks to engage in certain commodity activities. Rich, is this possibly one of the unintended consequences of financial reform, otherwise known as dodd frank . Because i think the big banks and Investment Companies are not allowed to trade commodities or control them so they go round about, is that it . Theres a certain provision in a law from the 1950s that allows them to engage. This is limited a few years later not in the latest round of dodd frank, but through other congressional actions that have taken place. It rests with Federal Reserve and the decision in 2003 to limit and allow some of the activity and theyre revisiting it now. Stuart im sure some in congress are dying to have a go at Goldman Sachs. Lets go back to the big board now, were 8 minutes intoes trading session, 45 points, just vie of 15,6. And check this out. Its a nasa rocket engine parts built with a 3d printer. According to nasa, an entire spaceship may come in the distant future. Were going to bring you the space agencys chief engineer on 3d kind of geewhiz stuff. You know where i stand on the future king filled with pride. You viewers disagree with me, but well have an answer. Oh i just cant wait to be king no one saying do this73 c1 no one saying be there no one saying stop that no one see here dont run around all day well do it our way annncer scottrade knows our clients tre and invest their own way. With scottrades smart text, i can quickly understand my charts, and spend more time trading. Their quick trade bar lets my account follow me online so i can react in realtime. Plus, my local scottrade office is there to help. Because they know i dont trade like everydy. I trade like me. Im with scottrade. announcer scottrade. Voted best Investment Services company. Its delicious. So now weve turned her toffee into a business. My goal was to take an idea and make it happen. Im janet long and i formed my Toffee Company through legalzoom. Never really thought i would make mon doing what i love. [ robert ] we created legalzoom to help people start their business d launch their dreams. Go to legalzoom. Com today and make your business dream a reality. 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[ garth ] bjors small buss earns double miles on every purchase every day. Produce delivery. [ bjorn ] just put i on my spark card. [ garth why settle for less . Ahh, oh [ garth ] great businesses desee limited reward heres yourake up call. [ male announcer ] get the spark Business Card from capital one and earn uimited rewards. Choose double miles or 2 cash back on every purchase every day. Whats in your wallet . [ crows ] on every purchase every day. Now wheres the Snooze Button . Were 13 minutes in. The dow is 15,590. Gold, well above 1300. Down 6 bucks as of right now. Two stocks youve really got to watch today. Really moving. Dupont sharee up big. New high there, topping wall streets profit expectations, nonetheless the stock is up nearly 4 . Got to talk about netflix, it was down, way down earlier, now its coming back. Remember, please, it signed on 600,000 new subscribers for the streaming service, thats 8 bucks a month all the way out there. Got almost as many subscribers as h. B. O. , thats a takeover. Now its down 1 , 2. 58 on netflix, watch that today. The royal baby coverage has no doubt about all over your tv screen. What about your social media, specifically twitter . Twilect, special name, developer has been on the program, creating an algorithm monitors twitter activity on a sentiment basis. Ive got to get this right. Tell me the sentiment indicator, how the americans feel about the birth. Americans love the baby. And if america is right, the babys name is james. And theyve been tweeting in a positive bracket about the baby. Youre not just counting mentions of the baby, its the sentiment. Positive or negative and degrees thereof. Americans are in the most positive bracket. You almost never see. You rank positivity and negativity. Uhhuh. You do . How many rankings, five . Its all percentages so i like to break it into five different ones. Are you the only guy with that algorithm doing this . Youre going to be worth a fortune. Tell me about the sentiment indicator on, for example, the snowdon spying incident. Edward snowdon has almost a cult following. Thats not stopping. They love him or hate him. the majority dont see him as a village. After he was charged with the espionage act, support. How do they see president obama, china wont give him back, russia wont give him back. The president was trounced for the entire ordeal. And hes not recovered, 50 recovered from where he was in early june. Stuart you say thats a direct result of the snowed snowden . The president hasnt really talked about it and they, the people who are supporting snowdon are against the president. And almost really, really correlated to opinions surrounding the president in a little less degree. The president is catching the brunt of the frustration e dow access to all twitter feed . Anything thats public. Stuart what percentage is that. A huge majority. Stuart are you part of an opinion pole . Most people dont have land lines anymore and twitter, people are voicing their opinions dozens of times a day and they dont know it. Stuart its going to be skewed. The demographics are evening out. What i do wouldnt have been able to do years ago, there was a liberal younger graphic. But the Fastest Growing is 40 to 50. Stuart really. Yeah. Stuart thats the Fastest Growing of twitter users . And whats their political position . They track . I havent found it to be particularly left or right leaning. And it was 3 4 of 1 off the popular vote so its a pretty good indicator. How old are you . 18. Stuart where are you going to college. University of california los angeles e when. September. Stuart will you appear for us from the los angeles bureau. Youre on. Stuart and whats the company . Sybil vision, sybil. Stuart sybil vision. Ryan braun, the Lance Armstrong of Major League Baseball and how much he stands to lose and the moral component after this. What does goes up must come down weekys are for rising to the challenge. Theyre the days to take care o. When possibilities become reality. With centurylink as your trusted partner, our visionary Cloud Infrastructure and Global Broadband network free you to focus on what matters. With Custom Communications solutions and responsive, dicated support, we constantly evolve to meet your needs. Every day of the week. Centurylink® your link to whats next. Several big movers for you now on the market. Dow component cisco is going to buy sourcefire and paying more than 2 billion. No surprise theyre up 28 . The coal miner, peabody, profit down, lower prices and thats the reason. But they were expected to do worse. And the stock is up 7 . And the irs scandal reaches inside the white house. A political appointee meets with president obama two days before getting instructions how to target conservatives. New at 10, a democrat responds to what im calling this bombshell. Plus the Top Technology guy at nasa is printing rocket parts for the 3d printer, what . And he wants to print a whole rocket . Hes here. And if you listen to our own Charles Payne on this program yesterday you would have made a lot of money. He takes a victory lap and more stock picks for us as well. Ryan braun, baseball player, milwaukee brewers, used dope, lied about it, now admits it, disgraced, done for the season. Here is my take. Ryan braun is the lance arm strong of baseball. He reached the pinnacle of success while juiced up. Remember the brewers playoff series with the diamondbacks, he batted. 500. He was king of the hill. He got off a doping charge on a technicality. And when you think about it, modern athletes are faced with a choice, honesty versus winning. Honest, level Playing Field competition versus guys with an edge who win big money. In a variety of sports, athletes are choosing a dishonest edge. My point is

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