Years. It rose from 57 all the way from 51 in june. Weve been talking about goldman sachs. They themselves are reporting secondquarter earnings. Topped analyst estimates. Net income doubled at the firm held by gains in fixed income and securities and commodities trading Ceo Lloyd Blankfein saying improving Economic Conditions in the u. S. Drove clint activity. Liz General Motors says sales grew nearly 4 in the first half of 2013 to 4. 5 million cars and light trucks. Gains in north america, particularly along with china, helped offset softness in europe and south america. David cocacola weighing on the dow today after Second Quarter sales came in weaker than expected. Global economic weakness and cool weather crimped sales of soft drinks. Liz shares of shfl entertainment soaring today. Look at this, up 21 , after rifle Bally Technologies announced it will acquire the casone games maker for roughly 1. 3 billion. This will expand ballys presence in Key International markets. Toss the dice. After the bell starts right now. David yahoo coming out any moment but lets get to todays action. Steven rosen is calling for a pullback. Larry shover in the pits of the cme. We got larry shovers notes, 8 30 this morning, half hour, 45 minutes best market even opened. Larry, lets go to you first. One thing i thought would weigh more heavily on the market than it has are comments of Kansas City Fed president Esther George. She wants to taper, everybody is talking about when they will taper. She wants to begin tapering of bond purchases right now. Heres what she told peter barnes bit. I want your reaction. I think it is time to begin to adjust those purchases. The labor market has for the last six months pretty steady gains of close to 200,000 per month. That is a good indicator that there has been sustained improvement here. David now she of course is in the minority as a hawk but what does the market telling you about where the momentum is on the fed, whether theyre moving toward her or away from her . Well right now there is a big disconnect people say on one hand you have the big hawks like miss george who want to start tapering sooner than later. On the other hand how do you put your head around the fact we might have zero handle gdp figure coming up . Everybody is revising downward their gdp figures. How will the fed treat this disconnect . Gdp, jobs what is going on here . It is making people continue to be on the sidelines right now. Thats why everybodys asleep behind me. That is why we havent had much volume yesterday either. People dont know what to do with all this. Liz okay. But then you wonder, larry, if the dollar is weaker today on the belief that, for example the Federal Reserve will continue its bondbuying program and do the opposite of what Esther George told peter barnes she thinks should happen, why not just short the dollar a little bit . There are still ways to make money. There is ways to make money but i than at macro scale you have to be long dollar especially against european currencies. Today we saw a snapback with regards to the european currencies because of retail sales yesterday and our Industrial Production numbers that came out today. Shortterm thing. Right now it is a little more confusing. Were in a very tight range with dollar. Longterm i think the dollar will rally 10 or 15 next six to nine months especially against the euro currency. David steven, there are a lot of fixed income people. Not everybody is getting into the stock market particularly at these lofty levels. You say avoided treasurys but dont avoided fixed income entirely. Where do you go if you dont go into treasurys . I think what weve seen over the past couple months or last year are safe havens such as multisector mutual fund, floating rate, high yield. I know the returns over the last month or two have not been too spectacular over there but i think everyone has to remember that bond returns are mostly made up of dividends. It take as about a year for those dividends to come into play. So yes, weve seen some negative performance over the course of the last eight or 10 weeks but when you extrapolate that over the last year the returns have still been exceptionally strong. Liz okay, so that is true but what do you with your money if you have a chunk of it you would like to commit to the markets at the moment . Where would you salt it . I think you can start looking at some of those areas. Weve seen a huge move in the 10year treasury which clearly had an effect on bonds. The 10 year treasury has moved from 1. 6 to almost 2. 6 in the past 10 weeks and weve seen some negative returns. I think now you can move back into high yield, floating rate and the multisector funds and even possibly look around global bonds as well. David by the way, we are getting some yahoo numbers coming in right now. Were seeing some aftermarket activity. Were going through those numbers right now. Larry shover, what are you looking for on yahoo right now . Right now the Options Market is implying a slight beat. Implied volatility is a little less than typical historically. Right now the sku is running 65 . That means people are not scared of the downside looking for a beat above 30 cents. Liz okay. And lets look at the stock price reaction here and if we put it up on the screen it is not a huge move at the very moment. All of this as the markets digest the numbers come out. Im seeing yahoo , the bid is 26. 84, barely below the last trade of 26point8. The ask though, 26. 93. That is above. As we look at numbers, here they are. 35 cents versus estimate of 30, david. David were getting the numbers. Go ahead, producer. Jo ling, go ahead what are the numbers. Thats right we have a pretty big beat here, 35 Cents Per Share against estimated 30 Cents Per Share. Revenue is 1. 4 billion, beating 1. 08 billion we were expecting. That number is extax. Well dig into it nor to find more information. Send it back to you. David not a lot of movement afterhours. One would expect with a beat like this particularly as we see the lofty figures coming up after earnings reports that are this positive. Larry shover, usually a stock really jumps bigtime. It is not happening at yahoo right now . Why not . By the rumor, sell the fact. The whisper number was about 35 cents. David right. There was so much positive expectation on that, people will sell. Long term i love marisa mayer, she is doing a great job for a lost reasons i love to talk about. I would buy the stock especially with weakness we are seeing right now. David it has gone up. Yahoo numbers look good but do they really represent a 74 increase in the price value of the stock over past year, larry . From last year it does. She came an inherited a boatload of cash. Keep in mind the boat was taking on water, listing to port. She got rid of a lot of dead wood. She focused on mobile Services Something so darn important. She reinvented the website that was four years overdo. All these things. It is true. Liz let me give you some data here from the report, larry. Okay. Liz you can decide. Sure. Liz price per click, the quarterly price per click, that means of course, heavy on what matters here, decreased approximately 8 compared to the yearoveryear quarter. So you look at the quarterly paid clicks, increased 21 compared to the year ago quarter of the same one. So youve got converse movements here. You absolutely do and think this is a time when you look at the big picture. I mean look at the fact she has taken over, acquired 17 companies in a very strategic way. Tumblr was the biggest one. A lot of smaller ones for the mobile services sector. They knew the ad revenue perhaps would be down and they do have a lot of weight put on asset, asian asset monetizaton. That is going to be trouble the but i think long term marisa meyer is the bomb. She knows exactly what she is doing. She got rid of the dead wood and knows what she is doing. I would buy the stock. One thing they have done, while they have bought a lost Interesting Companies like the tumblr purchase, and tumblr will be key in the earnings report. They mentioned tumblr. That is a key part of it. She reduced 75 from the number of mobile apps down to 15. She is buying choice products like tumblr and video app, quickie, but is reducing the overall numbers so she has a core product she can deal with. Absolutely. She is trying to streamline thing. She has done the weather app for pap apple. She has a brand new flickr app. Trying to streamline things, not make it so messy. That goes true for the website. It is cleaned up. That is four years overdue. I think this is beginning stages of gestation period. It take as long time to come to fruition. The stock is up, yes, 70 . It is up partly because of marisa but largely because of alibaba. Going forward david we should mention, ali baba is the chinese product. Theyre expecting it to put out an ipo very shortly. That is expected to bring in a lot of money. Right. David i wonder how much investors are hoping on the cash hoard to come in from the ipo, larry . I hope a lot. I take my hat off to her. I think, correct me if im wrong, i think they still own 23 of it. Most people would have sold all of that stock giving meteoric rise over the past year. She was smart enough to make act with situation that cash and still old on to 23 . She knows a winner when she sees it. And i would bet a lot on yahoo and marisa mayer. Liz lets make one thing clear here. The stock is now trading above 27 for both the bid and the ask. Wow. Liz however the Second Quarter price per ad falling about 12 . Read about that in the headline tomorrow or two im sure. David steven, rosen, im sorry we had to shortcut your suggestions. We had the breaking news on yahoo we appreciate you coming. Larry, well check back in with you a in a couple minutes when the s p futures close. Liz we will v much more on yahoo earnings. We have guests who know the strong inside and out. Do they know these numbers. What worries them . Well get a breakdown what the numbers really mean for ceo marisa mayer on her oneyear anniversary at helm. David in her First Television interview since becoming president of the Kansas City Fed, Esther George, a real star in the fed universe, sitting down exclusively with our own peter barnes. She is a vocal opponent of bernanke policies of qe2, qe1, all the rest of it. Does she see tapering sooner rather than later . 4 of you watch sports but sports channels account for 20 of your cable bill, is that right . If you could pay al lo cart for channels would you, and what channels would you keep . If youre paying a la carte and what channels would you pay for each individually . Your answers coming up. [ male announcer] surprise youre having triplets. [ babies crying ] surprise your house was built on an ancient burial ground. [ ghosts moaning ] surprise your car needs a new transmission. [ coyote howls ] how about no more surprises . Now you can get all the online Trading Tools you need without any surprise fees. Its not rocket science. Its just common sense. From td ameritrade. Its just common sense. Theyre the days to take care of business. When possibilities become reality. With centurylink as your trusted partner, our visionary Cloud Infrastructure and glal Broadband Network free you to focus on whattrusted matters. With Custom Communications solutions and responsive, dedicated support, we constantly evolve to meet your needs. Every day of the week. Centurylink® your link to whats next. David were right on time. The s p futures are closing right now. Lets head right back to larry shover at the s p. What do you see forecast for tomorrow . More people are on hold than ever before. People are scratching their head. The big question why are we up almost 7 since june 24th. What has changed between then and now to have the market change over 7 . Who knows what will happen between the disconnect between gdp, growth, tapering, who knows what. Its a holiday mode. People are a little concerned but definitely on the sidelines waiting for the next narrative to come to fruition in the market. David larry shover from the cme. Thank you very much. Thank you. Shares of Dreamworks Animation feeling little sluggish ahead of its next movie. Lets head back to Nicole Petallides on the floor of the New York Stock Exchange with details. Well, heres the thing. Know great movies bring great stock prices right . When you have a blockbuster, the question about turbo quote due to open tomorrow. The anticipation is it may not do as well as originally anticipated. A superfast snail, receipt . But, now stifelnicolaus today actually cut where they see the stock coming in. Originally it was supposed to be about 175 million for the box office hit. Now the new projection is just 135 million. They used word hit very generously because it doesnt seem that the analysts on board think it is going to be a hit. As a result were seeing the stock dropping 6 today. Liz january any though, raised its price target a couple days ago to 27. Right now the stock is 25. Not too far from there. Thank you, nicole. David were looking at yahoo s stock. Trading a little down afterhours t was been up and down. Earnings came out a moment ago. We want to bring in idc Program Vice President of media and entertainment for some instant reaction. Karsten, thank you for many coming in. First of all the overall question, do yahoo s numbers, particularly the numbers that came in today, any way justify a 70 plus increase in the stock value over the past year . No, they do not. Most of the 70 increase in stock prices due to the perceived value in yahoo s stake in ali baba. If you look at yahoo s core business, todays financial performance, thats been weak. It has been particularly weak the last several quarters. And so, that performance certainly does not justify a 70 increase. Liz youre the second person in about 38 minutes on this network to use the word, perceived. Peter cohen, of peter cohen and associates was on last hour virtually the last same thing. He is not a believer. If im a shareholder of yahoo i finally seen the company perk up its ears. Marisa mayer added some new energy to it but are you in essence saying, karsten that is really simply smoke and mirrors based on what could happen with ali baba sale . Well what i do think is that, you know, its anybodys guess how ali baba will fare once the ipo it could either way. Nobody knows which way it will go. It might flush a lot of money yahoo s way or might not. Certainly theres a little bit of excitement there. You know, what it could do for yahoo and its shareholders. Well have to wait and see how that works out. David karsten, talk about the future for a second. I just bought a new mac air, i was thinking about Storage Capacity. They said, dont worry about it, you can go to flick air product purchased recently by yahoo and they will give you one trillion bytes of Storage Capacity in your computer. Just a huge amount of capacity. Theyre not making money from flickr yet but a lot of people are turning their attention to flickr a lot of consumers. How do they monetize that . Flickr is a great product. Yahoo brought out a new mobile app on the iphone 4 for flickr. Its a great app. Flickr is the one product that is really shining, how do they make money, scars ten . It may not have to make money. It may be a loss leader in terms of, just pulling people into yahoo s Product Portfolio into other properties as well. That to me, i think davids on to something here. That sure would be a wasted opportunity with that one terabyte. Nobody needs anymore than that for the rest of their life and all pictures of their weddings and bar mitzvahs and things like that because it is amazing. Millions of people, i believe last check, 63, 64 Million People check their dashboard on flickr every day . Why not simply figure out a way to marry some ads with that . Im sure marisa meyer is figuring that at the moment but can it work . I think they have to be very careful introducing advertising on flickr. So far there has been very little of it. Liz you dont want to annoy people. You dont want to annoy people and disappoint users but, flickr is one shining example of things that go right but, you know, so numbers came in above expectations and thats good but if you look at the numbers on their own merit theyre not that great. Total revenue down by 7 00 . Search advertising down by 9 . Display down by 11 and the performance of display in particular is worrisome Going Forward i think. David karsten, i got to ask, at what point do you think this stock is a buy . I think it will take a little more time for marisa mayer to turn things around. I know she is work behind the scenes. She understands mobile is where its at. That explains, by the way, the consumer embracing mobile internet explains one of the reasons why this play is so weak for yahoo she understands that. She is working on that but, you know, it is not so easy to turn things around and launch new mobile apps just within a year. So it will take a little more time. Liz i would say daniel lobe and michael j. Wilson, the guy who put her in place, daniel lobe bought the stock at average of 13, not bad at all. Youre happy if youre a share hold theyre bought more than a year ago. Karsten, thank you. David media and entertainment chief at idc. Liz she has been a vocal opponent of the feds policies. Yet she works there. Nonetheless she dissented at every meeting so far this year. When does she think is the best time to start tapering the Stimulus Program . Our own Peters Barnes sitting down exclusively weester george as her first interview as a votings member of the Kansas City Fed. David thats a great interview. Also the senate pass ad sweeping Immigration Reform bill that awaits a vote in the house. We are break down specific companies that could gain and could lose potentially from the historic changes coming out of immigration policy inside the beltway. That is coming up. 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David time for a quick speed read of some of the days other headlines, five stories in a minute first up Entertainment App imd b movies and tv allowing users to purchase movie tickets directly through the app. The feature only available in the u. S. So far. At t announce ad new subscription plan letting customers upgrade phones and tablets every 12 months without a up front down payment. It is called at t next and requires subscribers to pay a monthly fee. Mcdonalds launching their first restaurant in vietnam. They granted a franchise to the soninlaw of vietnams prime minister. Planning to take the combined Company Public in hong kong after completing a takeover. International agreed to buy the u. S. Pork producer for 4. 7 billion earlier this year. Microsoft is reportedly developing a new surface brand smart wristwatch. It is set to be released next year. Of course that will compete with whatever it is that apple comes out with. That is todays speed read. Liz cant wait to see these things, how big or small they are. David well see. So far nothing yet from apple. Kansas city fed president Esther George has been a vocal critic of Federal Reserve chairman ben bernanke policies voting against those policies every chance this year. When does she think the fed will begin tapering the Bond Buying Program . Liz peter barnes knows because he got a chance to ask her in a fox business exclusive interview. This is her first interview since becoming president of the Kansas City Federal reserve. Peter . David, liz, because of improvements in the jobs and other indicators she favors tapering of that quantitative easing, that 85 billion a month in bond interest purchases that added up to trillions on the feds balance sheet. She wants to start doing that sooner and faster. She wants to ork with other members of the focm on dialing and pace of dialing down quantitative easing. For her she says the most important thing is to start the process, a systemically approach. I think it is time to begin to adjust those purchases much the labor market has shown now for the last six months a pretty steady gains of close to 200,000 per month. That is a good indicator that there has been sustained improvement here and that, i think, it would be appropriate, given the size of our balance sheet, given the level of accommodation that we begin to make adjustments that reflect that improvement as we go forward. When would you like to see those adjustments start . How much as justment would you like to see . Right now it is 85 billion a month in mortgagebacked securities and treasurys. Would you like to see that cut to 75 or would you like, as the minutes suggested to see it ended completely by the end of the year . Well, i think thats a discussion the committee is going to have to have about what is the right pace and what is the level of adjustment. Im open to engaging in that with my colleagues about the right pace but i think sooner is appropriate to begin now because we have a long way to go if were going to do this in a gradual and systemically way, to begin to return the balance sheet, to begin to normalize monetary policy. I also asked her about some of the recent Economic Indicators that have been mixed about the recovery and she has, says that they have not changed her forecasts for a continued recovery over the next couple of years. She says shes not too focused on nearterm data points. David and liz, back to you. David peter barnes, great interview. Thank you very much. The political battle over Immigration Reform and secure borders spark ad surge of interest in companies that could benefit from any new law. There will be some. We break down some of the potential corporate winners and some of the losers if reforms do get passed. Liz this past weekend team fox business, cheryl casone, chris hahn and i competed in the new york city triathlon to help raise money for building homes for heroes which builds custom, mortgagefree homes for the most severely wounded of our vets returning from iraq and afghanistan. There i am returning on the bike. We want to thank all of you for helping us. The odds were a little bit against chris and me before the race. David, we blew out my tires, twice, twice, before trying to fill them with air. Ma gave very hahn, seen right there he fixed everything. I tried not to panic. [applause] my husband kept saying, did you freak out . Not really. David are those love handles on him . Look at that. Look at love handles on chris. Thats cute. Liz here is the what participants. There was a lot of love around the race when they stopped by the fox biz fan cam. Thank you, fox, sponsoring again. Im rosy morales from new york. Nick from brooklyn, new york. Seventime doing aqua four. Awesome. 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David like it or not a new immigration bill is taking shape and getting support from both side of the aisle so businesses and investors have got to prepare for changes that could affect their bottom line but how . We have barons asia editor and just wrote an article detailing the winners and losers from a new bill. Leslie joins us now. Well not get into politics. A lot of people out there like it, a lot of people dont like it but there are going to be some changes and lets start with taxes. Any final bill is likely to have major Tax Implications particularly as regards penalties. This could directly benefit a lot of tax preparers companies, right . Thats right. One of the companies we identified that will benefit from Immigration Reform is obviously h r block. H r block prepares one in every seven in the united states. It is popular with lowincome filers. Obviously the newly documented workers will need to prepare back taxes and pay some penalties associated with that. David there is also the businesses. Businesses who have been relying on illegal help, when that help becomes legal they will have to start reporting all of the legality and that includes paying a lost taxs. Thats right. Thats right. There will be sort of a corporate angle to that story as well. David also payroll processing. Right. David there will be a number of payroll processors that could benefit from this how . Thats right. The payroll processors just from the addition of newly documented workers on to peoples payrolls obviously that is increased revenues from them. Companies like adp. David Automatic Data Processing paychex is another one. These are all winners. Thats right. David i notice accenture there, that is a bid onboarder security, is not . Thats right. Accenture benefits two ways. It has a very active Border Security practice and immigration practice t runs one of the fingerprinting, sort of, programs for the department of homeland security. David my wife loves to avoided. Hates to get her fingerprints on anybodys database but go ahead. Thats right. When you come into the airport and you, your fingerprints are checked, then that is accenture probably runs that program. Accenture benefits from that they also will ben individual from new restrictions on socalled h 1 b visas. There will be more visas underthe new senate bill but more restrictions on the workers. The workers will be more hispanic and tell mind do and owned by fox, 21st century fox has a lot of interest in media concerning, concerning hispanic population. They benefit directly. They benefit directly as well, yeah. One of the other companies we think might benefit is hormel. David why . Hormel invested very heavily in businesses that are targeted towards latinos. They have salsas. They have a brand called chi chis. We think, let me tell you, hormel thinks that the u. S. Hispanics will be the 12th largest economy by 2015. 12th largest economy in the world. David wow. Lets talk about some of the losers. Right. David my wife is an immigrant and my sisterinlaw is here. She is sending money back home through Western Union. Uhhuh. David i imagine there will be less paints back home than that used to be. That could hurt western june, right . One of the studies discovered after the last amnesty in 1986 newly documented workers actually sent less money home. And so obviously Western Union would have less money to send back to take a cut off of a, and yes. David i want to avoided politics but you did call it amnesty. Right. David that is interesting. A lot of people are conceding it will be some kind of an amnesty. Right. David cognizant will get hurt, why . Cognizant are heavy users of h 1 b visas. They are high little skilled, temporary workers. Under the new law, if there is a new law there would be restrictions on the use of these workers. David overall, im getting a wrap in the ear. Yes. David overall would the economy benefit do you think as a result of all this . Obviously people are divided on this but the cbo says that the growth in the economy would be much greater and that the budget deficit would be lower under Immigration Reform than not. David Leslie Norton from barrons. David thank you so much. Thanks for having me, appreciate it. Liz talk about a summer investment story, this is perfect. As the mercury rises so does the frenzy over frozen yogurt and smoothies. We talk exclusively to the founder of one of the most popular, red mango, on why he thinks he can freeze out his rivals what he calls a super biotic smoothie. David leo dicaprio has a machine of his own. It could have a huge impact on your cable bill. We have details after Battle Royale over the high cost of espn. It is costing you. Who will win on that one . Im jo link kent with your fox business brief. Csx shares are higher afterhours following better than expected Second Quarter results. The railroad posting a larger quarterly profit as it benefits from the intermodal business and offsetting a drop in coal volumes. The pain at the pump will soon be even worse. Experts say the gas will rise 15 cents per gallon by the end of the month. The current price is 3. 63 a gallon. Diamond electric pleads guilty to price fixing and pay a 19 million criminal fine for its role. The japanese auto supplier rigged bids and fixed prices on ignition coils is sold to ford and. The scheme lasted according to the doj from 2003 to 2010. That is the latest from the fox business network, giving you the power to prosper. Liz strawberry cheesecake with gram crackers crust sounds really good right now when it necessary frozen yogurt form. Were in the middle after blistering heat wave and many of us are desperately looking for ways to cool off. How about a frozen yogurt . Sales have risen so much theyre expected to exceed 800 million. How much revenue could one of the Companies Bring in . Remember a lot he have them are franchises. Could you buy one of these and start your own business. Joining news a fox business exclusive, is a guy who jumped into this realm and said, i can do it as well as the best of them. Dan kim, red mango founder and chief concept officer. Dan, i love your story. You started your first one right in the ucla. Perfect. All the college kids love to go out for frozen yogurt. There is one in my neighborhood in edgewater, new jersey but the big question becomes, this is a crowded field. Putting that aside for the moment, hows business when we hit temperatures of 100 degrees particularly here on the east coast . We love it when it gets really warm. We love the summer. You know, obviously is natural product that people navigate to. In the past people looked to ice cream as something in the summertime. As people got more healthconscious theyre craving frozen yogurt and smoothies. So it has been great for juice what is so good about red mango than 31 flavors ice cream. Mainly because of the probiotics in it. Were known for using only natural ingredients. Were probably the only natural chain with nothing artificial. Liz you threw out the word probiotic. Explain to the viewers what that really means. It means for life. It is latin for something that is really good for you. It is bacteria that is considered good bacteria. Normally exists in our body. Consuming more probiotics the body get as lot more good bacteria we need and good for our immune system and our digestive health. Liz lets look at the numbers. It is fascinating. We can put them up on the screen. Frozen yogurt sales are expected to increase 58 over the next five years. It is no surprise you see this as a crowded field. Everything from 16 handles which is big here on the east coast. There is something called cocoa. Pinkberry is out there. Tcb was among the first. What makes you believe red mango can really be the choice for everybody else . We believe the key to success is longevity and branding and everything that we do just keeps those two things in mind. We really focus on product quality. We havent waiverred from that at all regardless of the state of the economy. We focused on social media and keeping in touch with our fans through relevant channels. For us were looking at this in the long term. We really believe the relationships we built with our customers will help us win. Liz what is the cost to start a franchise . We have viewer investors watching right now. I know you are of course a franchise opportunity. Lets say i wake up one day i want to open a red mango near me. What does it cost . The range is from 250,000 to about 450,000. Really depends on how large of a space youre looking at. We have smaller units too like in airports and colleges that obviously dont cost as much. Liz tell me about how you started. As i said your first one was right near ucla. But it has gotten so popular i understand it, delivered one to leo dicaprio in his house in his office . He was shooting a movie in new york and i just wanted red mango frozen yogurt and he delivered it to the set. And wanted one for his home. I went to his home and installed it there. Liz come to my house, edgewater, there is one right there. Dan, look, its a tough business. Atmosphere, some people say, you and as entrepreneur, whats the number one thing you file you had when it came to really building this into a successful opportunity and would you ever go public . No. For me, just looking back it is persistence. This has been one of the most Competitive Industries that ive been in and continues to get more competitive. I just dont give up. I always look at opportunities to make things better even if this industry. In terms of a ipo or going public, we havent really considered that were privately held. Were kind of good where were at. If the opportunity comes up well definitely look at it. Liz persistence, the big p. Great to see you. We wish you the best of luck, dan, thank you. Thank you. Liz come visit the one in edgewater to check on everything, say hi. I certainly will. Liz dan women kim of red mango. David a real entrepreneur. They make this country what it is. Cable companies are not big fans of the high cost of Sports Programing mainly espn. Now the cablers are starting to fight back. Well tell you how coming next. Liz russian president Vladmir Putin plunges to the bottom of the sea. Are you wondering why . David here we go again. Macho man liz oh, yeah. Liz millions of viewers will tune in tonight for Major League Baseballs awlstar game but the cost of Sports Program something soaring and a backlash may be building. David yeah were talking about cable sports. Dennis kneale joins with us that story. Dennis. Hello, dave. You know, so many dollars, so few viewers. The cost of sports on cable is headed up and up and it is out of here like a home run, raising new questions about whether it is really worth it. The wall street journal points out, sure, huge audiences tune into big games like the super bowl and allstar game tonight but only 4 of viewers watch sports at all. In fact less than 3 of homes in any given city watch the hometown nba team play. Less than 2 for hockey. Yet sports channels cost almost 20 of the typical monthly cable bill, extraordinarily out of whack. It could get worse. The price of recent reups for baseball, u. S. Open tennis, nfl, Regional Team deals rose by 30 to 70 from the previous contracts the journal reports. Now the fees that espn and other sports channels charge local cable systems, they have soared, up 113 since 2000 two. In fact the fee is up 210 . , that has tripled in the decade for disneys espn and espn 2 which together charge 5. 71 per month. Think, the average cable bill is 78 a month f sports is merely a niche why do fees keep rising . One big reason may be ad zapping. It has never been easytory skip commercials with spread of dvrs and dish networks new hopper and reports that ad is at work on adskipping technology. Sports is the only genre that is s p proof. 97 of the Sports Programs are still watched live. That held steady as live viewing has fallen sharply. 57 of the nonSports Program something watched live. Most of it involves keeping a finger firmly on the fast forward button whenever a commercial comes on. Liz and dave . David have you tried to watch sports, any kind of game, recorded . It aint the same. No. David you have to watch it live. You really do. Cant have the friends call you. You wont dont want to hear the outcome. David that is why advertisers are happy. Dennis kneale, good stuff. Thank you. We want to update on what is happening with yahoo of course they beat today on earnings on both the bottom and the top line but investors kind of selling on the news. Of course the stock is way up year over date. It is up over the past 12 months by about 74 . So maybe people feel its topped out here. For whatever reason, despite beating on bottom and top line the stock is trading down. Both the bid and the ask are down afterhours. Well be watching it closely as the day begins tomorrow. It is not quite 20,000 leagues under the sea but russian president Vladmir Putin disappearing under the ocean waves. A lot of people are probably cheered by that. Well tell you why he pulled off this stunt. Liz earlier in the show we asked if you could pay a la carte for cable tv, picking an choosing channels you want and letting go of the other ones would you and which channels would you keep . Well read some of your answers next. Hi, im terry and i have diabetic nerve pain. Its hard to describe, because you have a numbness, but yet you have the pain like thousands of needles sticking in your foot. It was progressively getting worse, and at that point i knew i had to do something. Once i started taking the lyrica the pain started subsiding. [ male announcer ] its known that diabetes damages nerves. Lyrica is fda approved to treat diabetic nerve pain. Lyrica is not for everyone. It may cause serious allergic reactions or suicidal tughts or actions. Tell your doctor right away if you have these, new or worsening depression, or unusual changes in mood or behior. Or swelling, trouble breathing, rash, hives, blisters, changes in eyesight including blurry vision, muscle pain with fever, tired feeling, or skin sores from diabetes. Common side effects are dizziness, sleepiness, weight gain and elling of hands, legs and feet. Dondrink alcohol while taking lyrica. Dont drive or use machinery until you know how lyrica affects you. Those who have had a drug or alcohol problem may be more likely to misuse lyrica. Ask yo doctor about lyrica today. Its specific treatment for diabetic nerve pain. Ask yo doctor about lyrica today. Every day were working to and to keep our commitments. And weve made a big commitment to america. Bp supports nearly 250,000 jo here. Through all of our energy operations, we invest more in the u. S. Than any other place in the world. In fact, weve invested over 55 billion here in the last five years making bp amicas Largest Energy investor. Our commitment has never been stronger. David off the desk. There he is, ladies and gentlemen, russian president Vladmir Putin pulled another pr stunt. This sent him to the bottom of the baltic sea in a small mini submarine. He was exploring a ship that sunk in 1859. Good for him. Liz very james bondesque. If you could pick only cable channels you wanted would you and which channels would you keep . Bob on facebook wrote in to say, in a heart beats i would keep fox news and fox business. We only watch six to 10 channels on regular basis. David robert says absolutely. Many channels i never watch and i would pay for them only. Liz daybreak on twitter said i would if the price were right. David everything is for it. Would you . Liz absolutely. David lets do it folks. Money with Melissa Francis is next. Liz have a great night. Melissa im Melissa Francis and heres whats money tonight. A pharmaceutical giant is accused of being a criminal godfather in china. Sexual bribery . Secret payoffs, Money Laundering . You name it. Is this just the price of doing business overseas. Plus the death of passwords is finally upon us. Your voice could be the only thing you will ever need again. Well speak to one of the men behind a technological breakthrough. Forget who made money at that. Do you know how much money elon musk lost today . It could buy enough teslas for an entire town. We have the mind blowing numbers. Sorry. Even when they say its not it is always about money
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