Transcripts For FBC Varney Company 20140214 : vimarsana.com

FBC Varney Company February 14, 2014

Cable guys, comcast and time warner. The flood gates have been opened and you obviously do not like big cable. You can feel the power of social media this morning. Two more sign of the times stories, apple enjoys blind brand loyalty, got that . And pandora thinks it knows your politics. All right, we could have brought you the weather, the economy or obamacare, but we dont want to ruin valentines day. We love our viewers. Varney company about to begin. [ male aouncer ] this is karen and jeremiah. They dont know itet, but theyre gonna fall in ve, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never ght aboumoney. [ dog barks ] because right after they get married, theyll find some financial folks who will talk to them about preparing early for retirement and be able to focus on other things, like each other, which isnt rocket science. Its just common sense. From td ameritrade. Theres nothing like being your own boss and my customers are really liking your flat rate shipping. Fedex one rate. Really makes my life easier. Maybe a promotion is in order. Good news. I got a new title. And a raise . Management couldnt make that happen. [ male announcer ] introducing fedex one rate. Simple, flat rate shipping with the reliability of fedex. But we have to pass the bill so that you can find out what is in it away from the fog of the controversy. Stuart oh, brings tears to your eyes, we cant help ourselves with that clip. However, according to a new fox poll, we are not laughing. 55 , more than half, obviously, wish that obamacare had never passed. Now, get this, 64 think it never would have passed if we knew then what we know now. There you go, ms. Pelosi. Yes, it has passed and yes, we have found out whats in it, but no, we do not like it. That is your daily obamacare update for the day. Now, to that really nasty Winter Weather, finally clearing out for the majority of people on the east coast. Its still snowing in new england though, more than a foot of snow in some areas. All right, here is the aftermath. A total of 1. 2 Million People lost power because of the storm. Theyre slowly being restored to the juice and as expected, it will hurt the economy. Dow jones estimates that all of this Winter Weather will take. 3 out of economic growth. Now, it doesnt seem like a lot, but it translates to less job creation, lower retail sales. This winter really did hurt and i dont know about you, but the snow has, shall we say, loss its charm, im going home today. Three big tech names hitting highs, count them, google, facebook, netflix all hitting a high and theyre going to open higher again today. Speaking of netflix, people are angry at them because they were snowed in and netflix did not release the new series of this a day early. Frank, this is not your fault. 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Another media reporter says this is netflixs whole Business Model giving us our on demand when we want it, but the reaction is pouring in negative against what is going on. D. C. People are behaving like babies. Get a little bit of snow and like they want their birthday presents a day early. One person wrote on the twitters sphere, theres three feet of snow on the ground and my kids are going to school. Stuart some people say oure cry babies, you demand something and cant get it. Im on that side. Stuart im taking the other side of that one. This is 2014, the consumer is king, i want it, i pay for it and i want it now. Hey, im snowed in, give it to me. Go buy it buy a video aor read a book. Stuart what is the red suit . Its valentines day and in britain you dont celebrate it. Stuart theyre telling me to move. [laughter] were talking 16,000 and its friday morning, everybody. Were down 29 points at 15,999. Lets see how we go today for the rest of the day. We always tell you, tech is king. To prove it, look at google. The stock hit, did it hit 1200 yet today . Not yet, not yet, but im willing to bet at some point well see the 1200 mark. It traded yesterday at 1199. 90. So, i mean, it couldnt get any closer to 1200, right . And weve seen it run up. It was 875, it was in a chart and one of the little, little and then took off. And is that right . It was 875 last september. Yeah. Stuart it went straight up and were almost touching 1200 this morning. Fascinating. I know youre going to follow that one because 1200 . Wow, not bad. All right, nicole, got to move on to facebook. It closed at a new high yesterday. It opened this morning at another new high, but its since dropped back, is that what weve got here . Okay, well, 67, 67. 04 on facebook right now. I think that shes in between a rock and a hard place. What can she do . If she stops the taper that looks bad, the economy is not doing well. If she starts to taper the taper maybe shes seeing something that we dont see and if she adds money to it shes going to tell us that things are bad. Shes stuck and i agree with you. She slows the rate of the taper. The reason we were going to taper because the economy was doing better. And now were throwing it out the window, its failed economic policy. We need something else. Stuart believe me, im with you on this one, scott, im 100 with you. I want a tax cut. I want private enterprise to get moving. Thanks, scott. Common sense rules the day. Stuart common sense does indeed rule the day. At least on this program. Speaking of the weather, and we are, you know, John Layfield is with us from hes laughing at us, hes in bermuda, the sign is shining and the beach is behind him. Quit laughing, john, its not funny. Hey, im sorry, my wife is actually stuck there in new york city trying to come to bermuda. Its 70plus degrees today and were only an hour and a half away from new york. Stuart you tell her theres a space for her on this program if shes stuck at the airport, come on and well put her on. She loves you, and she would come on. Stuart thank you, john. Thats something positive and now tell me about twitter. As you know, its up what, 100 or more since the ipo last november. Now, starting this weekend, the inside,if they wish, can sell their stock. If they did sell, that would push the stock price down, i presume. So, i want to ask you, would that be a buying opportunity for John Layfield . Depends how much the stock goes down. When i worked on wall street the biggest thing we feared was the lockup expiration because people run for the exits. You know, this thing is has made 20 billion dollars as 25 times revenue. This is a time that people look at this and say, now what . I really want it get out here around 55 to 60. This is a real gift to these guys. Depends how far it goes down. I love twitter, i just dont believe in this valuation. Stuart got it. How about tesla . The stock is hovering around 200 a share. Would you buy it at 200, john . No, absolutely not. Im about as big a fan of elon musk as there is in the world. America is so lucky to have this South African entrepreneur come. The manhattan doesnt do projects anymore, people like elon musk do, and richard branson. Thank god weve got a guy like elon musk. And this is about optimism and that is what he is, iron man. Stuart unbridled enthusiasm. What is the expression from greenspan . Irrational exuberance. John, im sorry to cut it short, but get off to the beach and get that suntan going. Happy valentines day to you. Stuart appreciate it. A disappointing forecast from Weight Watchers. Nicole, how bad is the stock reacting . First of all, its down 26 . Its at new lows that we havent seen since the financial crisis. If i remember on the last round, the last Quarterly Report only because i was at the fed and the ceo, and thinking how it wasnt doing well last time. Once again, the Meeting Attendance for the Weight Watchers meetings, down, revenue down, Profit Guidance for 2014 lower than the analysts were expecting. Stuart they couldnt fight the internet, can they . Its really a tough go at that. Nicole i dont know what the problem is, what the formula is. Meeting attendance, that seems outdated i guess in this day and age. I know a lot of people who do it and now have hit the internet. Made the point. Stuart 26 down. Thats a huge bite. Nicole almost down as much as the profits. Stuart thank you, were down only 14 points on the dow. Only 14, thats it. Ive got to get that big deal that will supposedly bring together the two biggest cable providers and customers, they dont like these companies. Comcast, time warner. We said it yesterday. I guess we were right. Look at what people are saying on twitter about the merger and about the cable guys . Quote, prediction, the comcast time warner merger talks will be slow, freeze a bunch of times and have it be restarted. Thats sarcasm. Anytime that they could result in better services, anyone . Bueller . And Liz Macdonald we said this yesterday, this could open the door to netflix and people like that. Yes, this makes the twitters sphere possibly an eloquent case for signing up for netflix. Essentially whats going on is the union of the two least respected companies at least in terms of Customer Service and does bad plus bad equal worse . So michael kopp a former member of the sec, says this is already an oversized colossas. And the twitters sphere is going pretty much off on this. Stuart it is. Theyre talking a lot about this in terms of Customer Service. Stuart it. They dont like the Customer Service they get from the Cable Operators and taking to the social networks to voice concern about it. And its a complication of the officials and executives say we are he going to get 1. 5 billion in operating efficiencies, that means possibly more layoffs at the combined company, meaning we dont know less Customer Service representatives, we know that the Balance Sheet has been swamped in debt. The debt to asset ratio, comcast is going to try to right that. Stuart youve got to right the service before the company in my opinion. Check the big board, we were coming back a little bit. Now were down 10. Friday morning coming off the big snowstorm, trading is probably slow, were right there at 16,017. Calling all ambulance chasers. The lawyers going off Fast Food Companies saying theyre behind the countrys obesity problem. What does the fast Food Industry have to say about that . Coming up, well talk to the ceo of scinnabon next. Brown sugar announcer scottrade knows our clients trade and invest their own n way. Th scottrades smart text, i can quickly understand my charts, and spend. 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I do. Drink water. Its a long story. Well, nohaving branches lets us give you great rates and service. Id like that. A new way to bank. A better way to save. Ally bank. Your money needs an ally. Oh, down a little more this friday morning and now were off 40 points and coming down just a little. 15 15,985. The price of gold be look at that, up nearly 20. 1,319 per ounce, we made it above 1300. Big name you know, smuckers cut the sales on the profit forecast. Down it goes 4 down. Different story at campbell soup, strong sales, i think its up. Wait for it, its up 6 , okay, its moving so fast we couldnt get it to you. Its up 6 , campbells soup. Lawyers in certain states pitching their attorneys general, yeah, state attorneys general to make the fast Food Industry to pay up for obesity, obesityrelated health costs. And cat the cole is the president of cinnabon and is here to weigh in on this. I dont think that youre a fast food. No. Stuart but theyre going to come after you because you sell sweet stuff and sugar. Good stuff. Stuart youre poisoning america, you wicked people. Absolutely. Stuart but theyre going to come after you, arent you worried . No, im not worried. First of all, free market economy theres demand for indulgent products and companies luke me and companies who actually have a healthier position, whole foods, they offer a ton of variety of products, some are sweet and indulgent. Where do you draw the line . Youre flushing out the calories, selling the fat, selling obesity. Thats what theyre going to say. I know and thats unfortunately because were also creating jobs, building businesses, paying taxes, doing great things. But we do when we said absolutely before. You dont mean absolutely poisoning america, that theyre going to come after you. Do they have a case . We had richard brodsky, the former new york city official said to me here at fox business that when the Tobacco Settlement came in that the that he and the state officials actually took tha

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