Transcripts For FBC Varney Company 20131126 : vimarsana.com

FBC Varney Company November 26, 2013

Deadline. Bad weather, hopeless obamacare, cheer up. No retreat for record high stock prices and Varney Company is about to begin. Hi honey, did you get e toaster cozy . Yep. Got all the cozies. [ grandma ] with n fex one rate, i could ll a box and ship it r one flat rate. So i kn untilt was full. Youd be crazy not to. Is tnana . [ male announcer ] fedex one rate. Simple, flat rate shipping with the reliability of fedex. The big story of the day, over the next two days, there will be a massive storm, it will surely affect millions who plan on travelling on the busiest travel days of the year. Maria molina is it here. 30 seconds, here is going to get hit with what and when . Hi, stu, right now the storm system is centered across the southeast and already were seeing precipitation in the northeast with a little bit of snow across parts of central pennsylvania right now as we speak. Again, centered across the southeast and thats what were going to see the worst of the conditions today with heavy rain and even some Higher Elevation and rain and snowfall across parts of the southern appalachians and the storm heads north word. Overnight and into tomorrow, the worst conditions across the northeast with heavy rainfall, along the corridor and gusts as high as 60 miles per hour, and inland snow, western pennsylvania, upstate new york, they could see six to 12 inches of snow, you factor in the win and of course, were talking possible whiteout conditions out there, dangerous conditions for any driving and of course, flights will likely be canceled or delayed across parts of the i95 corridor, but then it heads out of the northeast and were looking at much quieter conditions behind the storm coming up for thanksgiving, in time for turkey, but getting there is going to be a big issue for many people. Yes, it is, maria. Thank you very much indeed. Let me repeat that, the storm moves through by friday and weve got excellent black friday weather for retailers, got to mention that one. The deadline to get the obamacare website working, four days away. Whats the president doing about it . He is making jokes. Listen to this. Even as were getting this darned website up to speed, its getting better. States like california are proving the law works, people want the Financial Security of health insurance. Stuart oh, im not sure about california. And techies will be working through thanksgiving to get it up and running and the Administration Admits come the deadline, it wont work, but better than october. And people are lining up at best buy for door buster deals and tents being set up at some places and 6 p. M. Thanksgiving, dirt cheap tvs the attraction, its not all smiles for retail. This retail from germany, amazon workers walking off the job, demanding collective bargaining, higher pay. Outside of the u. S. Germany is the biggest market. 8. 7 billion in sales, theres no black friday there, they dont celebrate thanksgiving. Stay there, watch your money grow some more when wall street opens, the bell is next. [ tires screech ] chewleys finds itself in a sticky situation today after recalling its new gum. [ male announcer ] stick it to the market before you get stuck. Get the most extsive charting wherever you are with the mobile trader app from td ameritrade. Wherever you are with the mobile trader app maestro of project management. Baron of the buildout. You need a permit. To be this awesome. And you. Rent from national. Because only national lets you choose any car in the aisle. And go. You can even take a fullsize or above, and still pay the midsize price. aaron purrrft. vo meeeow, business pro. Meeeow. Go national. Go like a pro. Love lift us up where we belong i dont get that. Is that a doom and gloom song . Its not necessary. The dow is going to open up well above 16,000 and weve had calls on this program to hit 18,000 soon. Tres knippa in chicago, come in. Dow 18,000, are you buying that . And when do we hit it . Certainly, im a little skeptical we can go that far that quickly. Certainly not necessarily by the end of the year, but the people who are overwhelmingly bullish, why not look for the options market. The options are very key. What about people who arent quite as bullish . You can buy protection on your investments, you can buy options to cover are self on the down side and if youre not quite as bullish as the 18,000, those option prices are very, very cheap. Why not lock in what has been a great year for equities. Stuart why not answer the question. 18,000, yes or no, go, last time . Eventually yes, but certainly not by the end of the year. Stuart we hear you. Same thing for Keith Fitzgerald . Due to the stimulus and not before the end of the year. Stuart in months, that would be yellen is dovish and we had the greenspan put and the bernanke put and shes been getting her helicopter license for the stimulus. Mid 2014. Stuart youre on tape saying that, thanks, keith. Stay there, ill get back to you shortly. A big winner for you, name is tiffany and strong sales in asia. Tiffany is almost a china play. The company has raised its forecast as well. So, nicole, where did it open . Its a china play and asia play. In chinese and japan they did it particularly well. Softness in the u. S. New high for tiffany and company and a little blue box or big blue box and 7 as theyve seen the sales abroad in asia and doing well and some softness here in the u. S. As i was looking at the tiffany website doing my research. 1837 is when this was established. 1837. Thats like huge. Stuart huge. Nicole, ive got to give you taketwo interactive. You know, they make grand theft auto, the video game and thats why were quoting the stock. It is buying 12 million shares back from carl icahn and its down 3 , 16 bucks. Take a look at the social media stocks which took huge hits yesterday and maybe it was profit taking. Yelp was down 8 and twitter, look at them now, twitter back up, but only just. Facebook back up, only just and linked in down, up, only just. Yelp is down some more and im staying on twitter and im going to bring in jeremy kaplin, the science and tech editor. First of all, jeremy, one of the reasons the stock went down yesterday was the story about 20 million fake accounts, and whats a fake twitter account . Its an astronomical number. Sure is. Basically you think about twitter being like facebook with one person when it counts. A lot of those accounts are fake ones. Theyre robots and artificial things that have been created and make themselves look as if theyre real accounts and they say thing and follow people, but theyre not. Theyre just robots. Is it possible for a third party to create a whole bunch of twitter accounts and then sell those accounts and thats a business thats in progress nowment isnt it . In fact, its a business thats booming and prices are up for the people that create such accounts and they sell them to celebrities that want to boost their status and having a million followers. You can buy followers. Theyre fairly affordable and as ive said prices can go up, you can buy a thousand followers for 15. 11,000 maybe 100. Its not its a Good Business and the celebrities if they want to spend their money that way. Its not good for twitter because it does nothing for twitter and finances or does it . I think one thing twitter wants to work on as they move forward is improving the quality of the user base. What sort of people. If they say, for example, an advertiser and selling against the people, selling as robots or robots watched by robots . Not a good ad proposition. So the statistics to look for. How many twitter accounts are actively used by real people. Theres such a number, i take it. 232 million, is what twitter says. However, the report inside, says 650 Million People had created and then left the service, so ouch. How many people are actually using this . Its kind of a weird number that theyve got a handle on. Its interesting. Keith fitzgerald, i know that youre a twitter bear. Are you still a twitter bear . And by the way, cause its down so much recently . At which point would you get in . You know, im an investor, im not a trader, so twitter is not appealing to me, theyve got to figure out the Customer Base and more importantly, figure out how to monetize all of those eyeballs and theres not a lot of40 characters to do and do it without pissing off the existing Customer Base and the next click is away and im watch your language, keith, its a family oriented show, were trying hard. Watch it. Good grief. Stay there, more from keith in a moment. Yahoo announcing that katie couric is joining their team as a global anchor 2014. What is going on at yahoo hiring her. What are they trying to do . They have a bad brand and the problem that yahoo had for the last months. And i dont think they deserve it, yahoo is a large brand and on the internet. People say theyre doing badly, theyre bringing in fresh faces and get a second look at the company. Stuart do they want to get people around the world to get the news by watching katie couric, thats the gist of it. Yeah, doing special things online and the presence 6 brand of katie couric is going to stand behind the yahoo brand now. Stuart hold on a second, ive got a big name you know, disappointing sales and talking barnes noble. Nicole, the stock, please . Where do i start . The drop in revenue was really a big problem for them. You see the stock is down 1. 7 and they were thinking to split up the company. The nook business which they launched in 2009 which started off great, and its intense competition, it dropped 32 with the books and devices not competitive at all and the stock is 1607. Stuart you know, theyre finding it very hard to compete with the electronic readers and the kindle in particular. I was at barnes noble, theres no inventory. They dont have books filed high all over the place. Unless they were originally looking for a partner. If they were to look for a partner and get one, then they would then obviously expand and delve more into this type. Now, no way. Stuart okay, nicole, thank you. How is this for an economic cater. More than 6 in 10 workers at a recent Washington Post poll worry that they will lose their jobs in this economy. Keith fitz in portland, thats not a good sign of the economy, nothing to do with the stock market, but not a good sign for the economy. Not on this one. And on this one, i have to watch my language, its hard to retain a modicum of respect for anyone in the beltway. They would realize that mainstream america is in a world of hurt. Higher taxes and take money from everybody and give it to the government and 60 to me is a reflection of the social fear thats associated with a recovery that doesnt exist. It goes back to washington. Stuart back to the original point. You think were going to hit 18,000 on the dow industrials by the middle of next year even though weve got i think a dismal economy and a dismal approach to the economy by ordinary people . Yes, we do and thats a function of liquidity, stuart. Dont forget the entire market is jacked up by leverage. If bernanke, well, soon to be yellen, if she puts more in it, you have increasing money chasing a relatively few number of quality shares and weve seen a disconnect where stocks have run up tremendously and consumers have not. Theres a very, very big divergence, its possible to be an economic pull and a market bear. Stuart thats the way we are. Keith, thank you very much indeed. Well see you soon. And jeremy, always a pleasure. Thank you, i love being here. Stuart the big board, we hit up 19 points and thats not a huge rally on a 16,000 index, but were up again a little bit. All right, everyone, please check this out. What youre looking at is a fourseater ferrari. Okay, four seats. Does it have four doors . No, i dont think it does. Its a twodoor four seats. Its a ferrari, its parked outside and weve got the companys ceo after the break. Here is the question, how much does it cost to change the oil on a 295,000 car . I will ask him in a moment. Hey mambo, dont want to, hey mambo mambo eitaliano clients are always learning more to make their money do more. ann to help me plan my next move, i take scottrades free, inbranch seminars. Plustheir live webinars. 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Choose 2 cash back or double miles on every purchase, every d. Whats in your wallet . I need your timesheets, rry with the price of gold this morning . Ill tell you at 1244, up 2. 90 right now. A couple of big names, you know them and were going back to tiffany. Strong sales in china and up on a big name like that. Same story at hormel, i believe they make spam. Theyre up right now. All right, look at this, thats a car. Its right outside the studios, its a ferrari ff as in four wheel drive, four seater, got it . Its a beautiful car and we have the ceo of ferrari north america with us right now. Welcome marco, welcome to the show. Stuart, thank you very much for having me here. Stuart i know youre going to try to sell it to me. How much . 295,000. Stuart how many ferraris have you sold in north america this year. This year close to 2000 units. Stuart calendar year 2013 and youre going to sell 2000 cars like that outside. The ff more limited number. Stuart but 2000 overall fra i rememberry ferrari. The best year ever in the United States. Stuart the best year ever in the United States . Why . I mean, come on, im not buying that car because its got a beautiful interior, im not buying it because it goes 200 miles an hour or whatever, im buying it, if i did, im buying it because its a ferrari. Youre selling style and name, arent you . Yes, i mean, three months ago we had one that declared ferrari the most powerful in the world. And thats one of the reasons that how do you maintain that brand status . What do you do . We are many above, we care very much about clientele, exclusivity. We engage directly with the 2000 clients by name and the distance between the leadership and the client is extremely short and we have phenomenal products and we have five products lining up that fulfill any needs of the ferrari people. Stuart thats not a bad selling job, marco. Know not bad. We sell dreams. Stuart you sell dreams . We sell dreams. Stuart why is that gray . I thought fire engine red is the color. More and more red is the predominant color. But imagine, we have the tailor made products and customization, theres no one ferrari we send to the United States that looks like the others. Every customer spends average 50,000 on top to choose his own color, his own stick shift and hold on, hold on, hold on. The average customer spends 50,000 on toppof the regular price. On top of the base. Stuart because they want a certain seating material and color. They want to be unique. They want to be different. Something that other brands they cannot offer. Stuart how much for an oil change . I know that might sound like a stupid question, but did . Its a very smart question and so for seven years, you dont pay any kind of oil change or other kind of anything goes wrong with the ferrari, which i might buy, and you fix it . Seven year free maintenance. Stuart oil change, you name it. And basic operation of the car. And we feel so confident about the quality, thats the main change of ferrari, we offer seven year free maintenance in the product range. Stuart at the end of seven years how much for an oil change . Probably Something Like 200. Stuart it doesnt matter to the ferrari buyer does it . It matters, they make money because theyre very smart and every detail they look at carefully. So our customer has education and people that work very hard where they are and they dont spend money theres a great value for the money for the ferrari. Stuart and here is what someone close to me said, stuart, youd look really stupid in a ferrari, youre too old. Would you answer that . I think that you would look very beautiful, very handsome in a ferrari, i dont understand why. Stuart because an old man like me should not be driving around in a beautiful sports car. Its for younger men, isnt it . Totally disagree. Our average customer is almost 50 years old and we have a lot of great collector clients above 50. And i disagree with that statement. Stuart you do, dont you . You would, wouldnt you . Marco. You could buy a ferrari. Stuart yeah, yeah, yeah. But if ive got one and had the extras, its 350,000. Charles we have amazing Leasing Program for you. Stuart a Leasing Program . Yes. Stuart thank you so much, marco. Thanks very much for joining us and we appreciate the effort to bring that car right outside there. Not quite a sale, but it was good. Thank you very much. Thank you very much, appreciate you having me. Stuart and the dow industrial is close to 20 points. And im going to deliver the five biggest financial turkeys of the year. My take after this. Turkey for me, turkey for you lets eat the turkey in my big brown shoe love to eat the turkey at the table i once saw a movie with betty grable you can have turkey all night long 50 billion elvis fans with fidelitys options platform, weve completely integrated every step of the process, making it easier to try filters and strategies. To get a list of equity option. Evaluate them with our p l calculator. And execute faster with our more intuitive trade ticket. Im greg 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. Consolidation in mens clothing, mens warehouse offering a billion and a half to a jersey bank, both of those stocks are hitting new highs. All right, if people are est buy, is best buy doing something right . Probably. Next hour our branding guy answers the question, how do the bricks and mortar people compete with online and which ones have the best

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