Transcripts For FBC Markets Now 20130814

Apparently they like to drive blue bmw sports cars. We will have that and a whole lot more. A look at the markets which are down. We have a hold another hour of market now. Dagen it is not women, just to clarify upfront, it is dudes most prone to road rage. Nice to see you, mr. Mcshane. Lauren simonetti is at the new york stock exchange. We came into work this morning and found out that europe is out of recession. Where is the rally . Almost a 100 point oh client earlier. We did get some disappointing earnings. We do have the st. Louis Federal Reserve president speaking at 115 eastern time. That is something that we will be looking forward to. Dagen a fox business alert. Fielding questions from reporters this hour on the plan for the future of the Postal Service. Connell peter barnes joining us from d. C. Peter one of the things that he wants is the right to be able to sell and ship alcoholic beverages through the Postal Service. The postmaster general says the delivery of alcoholic beverages is on his wish list. He says the change could raise as much as 50 million a year for the Postal Service. We would like to be in the business. Right now, ups and fedex have a lock on it. Earlier this month, the Senate Government Affairs Committee changed the law. Similar legislation has said that if they are allowed to start shipping booze, they would need to create new rules to make sure they are not shipped to people under the age of 21. Connell peter, thank you. Peter barnes in washington for us today. You mentioned ups. First, to the markets. Most investors fearing the day the fed pulls back. Our next guest thinks the market is kind of detached. We hear about this all the time. There are a lot of things we hear about. The tapering has to happen. The stock market did have a blip. I think we will have some shortterm volatility. You are looking at individual stocks. There are a lot of stocks out there that i can buy. Connell where do you think that opportunity would be best served at this point . The economy is two pieces. We are seeing all time highs. I think there is another thing have to think about. We have a lot of people, not just unemployed and underemployed. You have record profits. You have record returns on capital. The Housing Market seems to be getting better. Well the dynamic change as the economy improves . Part of the normal is the demographic shift. These companies are positioned to meet demand and higher workers. That will help demand and supply both. The dow down 80 some points. We have opportunity. Do not be afraid of is jump in and buy stock. People have been buying. Now individual stocks are driving returns. Connell kevin, thank you. Dagen speaking of the plane crash, ups, a cargo plane crashing on approach to the airport early this morning killing both the pilot and the copilot. They are investigating the cause of the fatal crash. What else do you know, jonathan. The two pilots on board that aircraft both died in the crash. Birmingham city Officials Say no one on the ground was injured. When you take a look at the crash site, you will see that it went down in a grassy field about half a mile from the runway. The plane reportedly struck trees and downed power lines. There were no businesses in the immediate area. The control tower received no distress calls from the plane prior to the crash. A spokesperson would not confirm saying the agency is still in the early stages of its investigation. Connell with that in mind, how about the company side of it . Ups has pledged to work closely. The president of ups airlines issued a written statement saying this incident is very unfortunate and our thoughts and prayers are with those involved. There were no homes or businesses in the immediate area of the crash, it is possible that there may be some private property in the debris field. Back to you. Connell more to come on this. Dagen a big connell we will have more on the blue bmw. Dagen sugary sodas are able. Diet ones are now bad also. Cocacola spending big bucks to bury fears about artificial sweetener. Right now, 7 years of music is being streamed. A quarter million tweeters are tweeting. And 90Million Dollars are changing hands online. Thats why hp built a new kind of server. One thats 80 smaller. Uses 89 less energy. And costs 77less. Its called hp moonshot. And its giving the internet the room it needs to grow. This is gonna be big. Hp moonshot. Its time to build a better enterprise. Together. Charles get it. Who is this woman who keeps interrupting. The government loses money even when it is continued stone. You cant make it up but we didnt have to. a new report claims the Federal Reserve was forced to send back three million new 1 hundred dollar bills after they were incorrectly produce. They were sent back after an error polk matching occurred when there was too much ink applied and it does not fit within the mark parameters. The bills were set for release in early 2011 and production has delayed distribution time. The report claims thirty million bills were sent back, they cost twelve. Six cents to produce. If we do the math taxpayers on the hook were 4 million and 30 billion worth of bills of lading examination so good job out of that. Dagen if you see a blue bmw on the road get out of the with predictably at the duke is driving it. A new study shows men between 35 and 50 driving blue bmws are more likely to have road rage than any other motorists. The worst cars, a car with the worst drivers after bmw, subaru, you have got to go to europe. Connell used to have a land rover. Dagen that use wan and rover. I will explain that later. And blue or black and silver or green according to the study done four Voucher Codes and male drivers experience road rage seven times the month compared to female drivers. If you walk in front of the car i will run you down and it wont bite me. I amhave serious road rage. And pedestrian rage because if you cut me off i will keep your car or fall on the hood which i have done. Connell shares of sea world are sinking today. Underwater for the ipo price. I just didnt know. And that day, 36 or 50, take a look. And it reported after the closing bell yesterday and the stock and the freemarket. And considerably lower, what happens is they are related to the i p o. And they cut their numbers and blaming the weather. And also higher ticket prices. Dagen doesnt get much more real than this. Housewives stars from new jersey teresa heading back to court this afternoon in response to 39 counts federal indictment, federal fraud charges. Connell polk taking the offensive on defending artificial sweeteners in diet coke. With a look at some numbers right now, currencies, how everybody is ferrying against the dollar, those that have been printed effectively. We will be right back. With the allnew fidelity active trader pro. Its one more innovative reason serious investors are choosing fidelity. Get 200 free trades when you srt using active trader pro today. This is your fox news minute. The Egyptian Health Ministry Says 95 people have been killed in a police raid on supporters of proposed president morsi imposing a curfew in cairo, and ten provinces as well. The white house opposes the declaration of state of emergency. The palestinian negotiator holding peace talks in jerusalem. Hanging over the talks forward jewish settler homes to build on occupied land. There were palestinian celebrations, and 60 jailed brethren helping pave the way for those stocks. And Hanna Andersson taken to social media to talk about her kidnapping and rescue saying james the maggio who kidnapped terry is suspected of killing her mother and 8yearold brother got what he deserved. And also and answered questions ranging from how she survived how she is coping with the ordeal. These are your News Headlines on the Fox Business Network. Back to you. Dagen and back in court today. And the 39 count indictment. A conspiracy to commit bank fraud and making statements on loan application. And enter to the charges, and judge alex for rare, and joining us from miami, good to see you. And this indictment, smacked a photographers camera bend over after the hearing. Bent of exposes cloved box to the media. Does it help at all behaving this way outside the courtroom . Real housewives of new jersey, cant quite seem to stay out of trouble. There was a bloody safe ruling fight, throwing cast members back. And now of this. The mother of one of the defendants, none of your business. And these are serious charges. And the 39 count indictment, and wire fraud and bankruptcy fraud, and stemming from apparently lying on applications to increase income where it can borrow money and filing bankruptcy and lined about the new income developed on the show to avoid paying those loans back. There is tax deviation for many years and facing a lot of time. Dagen what legal bills are you talking about, and in cases like this there would be a settlement of sorts . If you respect a plea in this case they wont take this to the map. They will plead not guilty. No one pleads guilty unless they worked out a deal with the feds but with 39 counts and typically cases like this they usually have a solid case because everything is documented. When you are filing applications for loans and lying about your wages it is all in black and white so i expect there will be a plea but the plea at some point when it comes down is going to involve a good chunk of prison time if the government offers anything. What they will probably try to do is raise innocent spouse her from this but i dont know how likely that is going to be since they filed shanker of separate bank of the positions. Dagen one thing you hear be moaning about the couple has been targeted because they on television but that is the very thing. Dont prosecutors, dont the fed go after people who are highprofile, Richard Hatch weno to prison, first winner of survivor went to prison for tax evasion. They go after these people if they are doing something wrong to set an example like you cant do this, cant why on mortgage documents or your assets when filing for bankruptcy. You better have a clean slate if you are going to put yourself out in the public. Two points to make. To that go after celebrities . Probably so. Think of Martha Stewart. She hadnt been Martha Stewart that case would have gone by the wayside and how it came about. By the same token you have to have committed the crime. They are not going to drop felony charges, if you committed the crime saying youre singling me out as a weak argument. Dagen i should point out joe and teresa are going to enter a not guilty fee, we will see how they behave outside the courtroom too. Great to see you, you can watch him and thank you again. Connell bad money, the fed returning hundred dollar bills because of a misprint, we will see what are clever things of this, and we will talk about that as well. Dagen cocacola sending big dollars to say artificial sweeteners arent bad either so sugar is okay and so is at 13. The question is why . Will find out why. With the spark miles car from capital one, bjorn earns unlimited rewas for his Small Business take theseags to room 12 please. 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Use promo code notme. Order now and get this document shredder to keep sensitive documents out of the wrong hands. A 29 value free. Dont wait until you become the next victim. We are at the halfhour on markets now. Art laughter standing by, talking about the wasted taxpayers money with this bad batch of money. And also some news on the economy and not only worried about sugary drinks but polk watching a new ad campaign to calm concerns about its diet. One lawmaker says it will take years to get out of the Housing Market. The Alliance Stock continued to died today after the Justice Department blocked the merger between usairways, lauren is watching those stocks. These stocks really, down 14 . Cutting to neutral u. S. Airways, you will see the decline. At stock is up 1 2 but the airlines, really tough week. There is a production snafu on the new hundred dollar bill, costing taxpayers millions. Just another example, and less waste in d. C. Joining us is the former economic adviser to ronald reagan. The Printing Press company was guaranteed to make money. Just what i was afraid of. And this is the best you could do. They should let these guys go and beat people with a money. Perez good is the crux. You cant make a. Connell people print the money cant even print the money. What would really, and one day badly they will become collectors items and make all the money they wanted to and selling collectors items. Connell these to collect baseball cards and the ones with the mistake around them. And the guy who had the bat on the wrong side. I want to talk about the economy and just when we were coming on the air new numbers the mahout on consumer credit, which is kind of interesting because things are getting better, i will let you interpret it, but holding less death, Household Debt at the lowest level since 2006, one of the headlines. That doesnt tell is if were doing better or not. We have really rough time and the indebtedness, we are not seeing a recovery. And we have not started making up for the lost ground. Dennis what is old and is back from making the transition from not falling to gaining ground . If we are saving more money and being more responsible why arent we going out and spending like crazy like we used to . Just afraid to do that and it wouldnt be prudent idea . One problem is Government Spending because it is taxation, government doesnt create resources it redistributes resources so therefore Government Spending is a share of gdp falling rapidly but still way too high and then the fed policy, how will everything unwind the Balance Sheet . How will they do that without causing Interest Rates to go up . Connell we had a guest talking about the stock market thinking it was the opportunity to do that because the market was fairly priced and the fed starts to cheaper, that overused word, put into effect and market might pull back and it is an opportunity to buy because the economy is plugging along but what do you think will happen . The market is very low compared to profits, Interest Rates and tax rates, i think theres a huge upside to the stock market, not sure when that will happen but there will be a political process and above 14 elections will be serious and in 2016 the president ial race will determine if we go this crazy george w. Bush barack obama way which is printing money and overspending and raising taxes or if we will go progrowth like reagan and if we go the progrowth agenda i think markets will go up. Really way up. Dennis plenty of time to follow over the next few years and in the meantime find one of these hundred dollar bills for you. Dennis how much would you pay for that . Thanks a lot. Dagen 50 bills are bad luck. In racing in particular. Not so much. Dagen cocacola, artificial sweeteners, and diet drinks in a new ad campaign. Dennis diane macedo has more today. I will take any 50 bills, not a problem at all. The company is out with defending the use of s like diet drinks, and quality product you can feel good about along side a photo of a smiling woman, and a compound emphasizes despite being a trusted brand from 27 years, and doing things like offering lowcalorie or no calorie options. And questions about artificial sweeteners calling them, quote, high quality alternatives to sugar and pointing out the safety came as supported and by 200 studies over the last 40 years. A growing trend away from soft drinks when competitors, health and popular diet emphasize damaging effects of sugar and some even say artificial sweeteners are worse. The leader this year the Company Launched two ads featuring calories in and calories out message and high calorie drinks, and the digest says a lot of the diet soft drinks are falling at a faster rate than regular soft drinks in the u. S. So polk polk 3 deuce that trend. This will run this month and usa today in the atlanta area and the Atlanta Journal constitution and chicago tribune, it was important to address questions on this issue. Connell interesting that they thought they had to do that. Dagen at least five years to get the government out of the Housing Market and out of the mortgage market. According to one lawmaker who is ready to get rid of fannie mae and freddie mac. Connell stocks are overvalued at levels we have not seen since the 2008 market meltdown. Dagen meet the first family of cybersecurities, three brothers made a successful career in the industry. And mortgage costs, 2. 7 looking higher on the ten years in recent days. [ shapiro ] at legalzoom, you can take care of virtually all your imptant legal matters in just minutes. Protect youramily. And launch your dreams. At legalzoom. Com we put the law on your side. And this pk is the inside of your body. See, the special psyllium fiber in metamucil actually gels. And that gelling hes to lower some cholesterol. Metacil. 3 amazing benefits in 1 super fiber. Connell we have your fox business brief, criminal charges against jpmorgan freighters and the london whales case that developed of 6 billion, and charged with conspiracy, fraud and no comment. Gdp, 0. 3 in the Second Quarter over the first quarter. And the regions recession with a quarter of the downturn. Mortgage applications, by 4. 7 . The law was leveled in two years. 63 of mortgage activity for financing, and 4. 6 . The top stories were following and we have much more on the Fox Business Network giving you the power to prosper. [ male announcer ] how do you get your boue . Bounce is great because the freshness lasts for weeks in the drawer. Why cant everything stay fresh that long . [ male announcer ] how do you get your bounce . [ man ] lasting freshness. [ 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. Dagen getting the government out of the business of guaranteeing mortgages, Financial Services Committee Says it could take 5 to 7 years to eliminate fannie mae and freddie mac. And in oklahoma, the American Bankers Association is that the time line, and we are talking about than demand freddie mac at this point. The perfect spring morning, we had the president say they doubt fannie and freddie. The president said time for leadership and yesterday in dallas, the chairman said lets go to conference, we can disagree about an instant phase out over six or five or seven years, residual role at the tail end of the process, but we need to resolve this because if we dont do it right the next generation of Young Americans and Older Americans moving to a warm climate wont be able to get financing for of mortgage, it will be difficult to get if we dont do it right and fannie and freddies role is hugely important to get absolutely right. Dagen there is much agreement that the government will continue to play some role through the federal Housing Administration and the government will stand for lower income americans. I would argue, in place for some way. The chance of abuse is still there. The congressman will jump on that when credit is not available. And it is still in the mortgage market, will become gigantic once again. When you are dealing with human beings you are dealing with the possibility of, the probability of mistakes, abuse and even stupidity but the fact is we as a society love the 30 year mortgage, the fixed rate mortgage, part of our culture, to have the 30year fixedrate mortgage many say you have got have a tail end Government Role but i am of the view that if you have strict underwriting, people ought to have assets, jobs and income, and the banking regulators and others who come to that space to make sure when you put somebody in a mortgage is transparent, simple and understandable land they have the ability to repay. All of these technical issues have to be resolved together and resolve right and we in the Banking Industry wants to do it right to make Mortgage Loans. We want to provide credit but it has got to be done right otherwise you will stock it. This 43 debt to income requirement, my friends in puerto rico tell me few people are going to in it that requirement. Dagen this is doddfrank. For example when i was in florida speaking of bankers last week, 5 year mortgages, they dont have 42 income, lets make sure we are not so restrictive, we joke of credit to say because we dont like 5year Mortgage Loans or balloons, lets do it right and underwrite correctly and ps back. Dagen and see hold much to this. And no bank will step up on Interest Rates as artificially low, that they cant make money on them. Do that first and figure out the governments roll. Absolutely correct. Lets have a round table, bring everybody around a table to discuss the future of the gst, the president say lets dont have a great government monopoly which in affect the full faith and credit of the u. S. Government in this space. This is a perfect time to have the president leave. Dagen good to see you. Connell the stocks are down but still the over 17 . Stocks may be overvalued, lets bring in keith bullets. Depends where your time frame is. And anywhere from two to four years. And when we have stocks that and neutral point, and moving higher, in september. And they are not overvalued, and concerned about a broader pullback until the s p is down the 6040 range so longerterm models say what they are but maybe some buyout between these as we plan the market. Connell the fall of 2007, thank you very much, good to talk to you. Three brothers with big reputations and making money in the world we talk a lot about, cybersecurity, we introduce them coming up next. Right now, 7 years of musi is being streamed. A quarter million tweeters are tweeting and 900 Million Dollars are changing hands online. Thats why hp built a new kind of server. One thats 80 smaller. Uses 89 less energy. And costs 77 less. Its called hp moonshot. And its giving the internet the room it needs to grow. This is gonna be big. Hp moonshot. Its time to build a better enterprise. Together. Connell the cyberthreat, different approach on markets now. We are sitting down with the selfproclaimed first family of cybersecurity, they are all brothers, decades of security leadership, experience, public and private sectors, the ceo, you are on, and a Senior Vice President , they are all brothers. I should point out the former director of the department of Homeland Security cyberdivision so we will talk about that. You can start us off. I said this is a different approach because we spend a lot of time talking about cybersecurity. It is interesting the all three brothers are in this area. Did you know something we didnt many years ago and saw the opportunity to gather . Is it just random . We all decided a long time ago we wanted to work together. Connell just a matter of finding the field and this is a pretty good one. And we talked about going back to the early 90s. Quite a long period of time. Liz connell i guess the answer is somewhat obvious, we had so many attacks and things in the news that everybody else has tuned in, seems like a lot of us are lead to the game recognizing the threat at least, now we are talking about it. It has been evolving quite a bit and evolving rapidly over the last several years with such a Water Surface of Cloud Computing and the whole evolution creates a bigger audience. Connell lets spend the last couple minutes talking about it. You can talk among yourselves and have different experiences generally speaking in the same field. What is the biggest thing that worries you . The change in how organizations use computers, Traditional Networks to dynamic environments where data is exploring everywhere. And Service Providers and capabilities and methods for accessing that data. The level of exposure, and risen through the roof. And the sets of threat factors which are changing and devolving attack methods. Connell pretty much agree with that in terms of biggest threats out there. Threats evolve as Technology Evolves and it is obvious technology is evolving very quickly, whether its mobile devices or Cloud Computing, and security is one of those things that has to keep pace with technology. Connell what about the areas you are coming from, there are new players in this all the time, the chinese benetton of attention but probably other people just as dangerous if not more so. It has evolved, and social awareness, and organized crimes, economic damage. And you have nation states looking at intellectual property, and it is a very wide variety. Connell more data than there ever has out there, more analytical as a society and we are measuring more things and collecting more data to do that that helps us out a lot of ways. Should we slow down in an evolution . Should we more careful . What should people do with all this . The fundamental change is individuals and organizations need to realize the world has changed. Implementing your privacy practices or your security posture, security technology, the same way you have been doing for years will not be a successful strategy. Connell we have breaking news on a topic we are just talking about. A source familiar with the matter told fox business the New York Times website as we speak is under cyberattack. We noticed the web site was down and not working, i am just just being told the New York Times has responded to a request for comment but a source says it is under cyberattack. This happens more and more common to journalist organizations. I think it would be inappropriate on the cut to respond to a comment about any one particular attack or even that it is an attack because technology until you get to the cost of things is impossible to say. Getting to the right level of forensic rigor and visibility is the only way to uncover what is occurring to the actors are and how nations can defend themselves. Connell that is why we were being careful when we noticed the cyberattack because you never know why but it is because of a cyberattack. Nice to me all three of you, out of free, thank you for joining us for the first time and covering this issue and give it as much time as we can. Thanks a lot, appreciate it. Dagen more on the New York Times cyberattack coming up and magic at macys, disappointing profit cutting its outlook for the rest of the year, Cheryl Casone ahead on whether you should buy, sell or dump it and billionaire carl icahn bullish on apple. Another billionaire, the founder of oracle, Larry Ellison bearish. Whos right and who is wrong . You know throughout history, folks have suffered from frequent heartburn. Butetting heartburn and then treating day after day is a thing of the past. Block the acid with prilec otc, and dont get heartburn in the first place. [ male announcer ] one pill each morning 24 hours. Zero heartburn. U are gonna need a wingman. And my cash back keeps the party going. But my Airline Miles take it worldwide. [ male announcer ] it shouldnt be this hard. With creditcards. Com, its easy to search hundreds of cards and apply online. Creditcards. Com. Spacex hello, everyone. Welcome back. I am Cheryl Casone. Shares are down today as a result. Down more than two dollars a share. What lies ahead for macys and, of course, its peers. Larry ellison warns that apple will continue to drop without steve jobs running the company. The ntsb on the ground at this hour working to determine why a ups plane crashed in alabama. Breaking news that we are still following for you right now. The New York Times website is under a cyber attack. Lets bring in lawrence simonetti from the floor of the new york stock exchange. Stock is down by 1. 4 . The website of the times is under cyber attack. We have reached out. No response just yet. Officials have been huddling with outside Security Professionals to assess the threat. That stock is down, as is the overall market. The ten year yield, by the way, is flat right now. Cheryl thank you very much. Appreciate it very much. We have more on the market now. Your office is pretty bullish on equities. I was looking at this article. They were looking at valuations now versus back in 2007. Stocks are overvalued now just like they were in 2007. Are you seeing any signs of that . We are probably overdue for a correction. The overall market is 16 times. A lot of them are nine, ten, 11 times. We are seeing this interesting flow into corporate bonds. This after a Credit Rating cut. It was oversubscribed. People went crazy. There is so much demand out there. There is this unquenchable thirst. You have to be very careful. You have to know the risks you are taking. There is always talk about the fed tapering. Cheryl you are talking about their own issues. The handbag part of macys is reasonably strong. Coach is sort of a unique situation. It has had a lot of competition. Michael kors, tory burch. It has had a big management change. A lot of new stuff going on. There is a lot to like they are. Cheryl the stock is down here today. Also, ebay. It used to be the old auction business. Paypal, that is really the one to the traditional network. It really occupies a unique space. Cheryl both are performing well since you pick them. We will stick with this. Thank you very much. Good to see you. National Transportation Safety board continues at this hour to investigate the cause of the fatal plane crash that happened earlier this morning. It happened on an approach to birmingham, Alabama International airport. What do we know about conditions at the time of the plane crash . It has been raining. Investigators really do not know if weather played a role in the crash of flight 1354. The ntsb says it sent a full boat team to birmingham to investigate the cause of this crash. Trees and power lines were not down. The fire tree chief says the two pilots, both of them, were pronounced dead at the scene. No one on the ground was injured. The crash is not interfering with airport operations there in birmingham, cheryl. Cheryl what is ups saying about this . They are not saying a whole lot at this point. They are asking for patience and prayers. It was a cargo jet. One of 53 in operation with the companys fleet. The Company Released a written statement. We place the utmost value on the safety of our employees, customers and the public. We will work exhaustively on response efforts. That statement from ups as the ntsb investigation gets underway. Cheryl certainly, our prayers go out to the families of those pilots. It turns out that there may not be enough, get this, drugfree cows for chewable day. The chain says it has been forced to use conventional beef at times of shortages. Now to this, the airports with the worst ontime departure record. Chicagos ohare coming in last on the list. So far this year, just two out of three fights have left over there on time. New jerseys Newark Airport was the worst. A penny saved is a penny earned. The government loses money even when it is printing its own. This is just the latest in a series of setbacks for the bills. This round could be the most costly. The report claims 30 million bills were actually sent back. More bills are still awaiting examination. Lets stay on the government for a little while. Why the Postal Service thinks there is big money and delivering wine, beer and even alcohol. They state of emergency declared in egypt. The padres Vice President resigning. Our president weighing in. As we go to break, though, we do this every day at this hour. Take a look at the market. Look at oil. With the sparkiles card from capital one, bjorn earns unlimited rewas for his Small Business take theseags to room 12 please. [ garth ] bjors small busiss earns double miles on eve purchase every day. Produce delivery. [ bjorn k card. [ garth why settle foress . Ahh, oh [ garth ] great businesses deserve limited reward heres your wake up call. [ male announcer ] get the spark Business Card from capital one and earn unlimited rewards. Choose double miles or 2 cash back on every purchase every day. Whats in your wallet . [ crows ] now wheres the Snooze Button . Lets bring in Lauren Simonetti from the new york stock exchange. Shares are up. A really nice day. Hitting an annual high. 41. 34 is the level. The Ticker Symbol is 40 a share. It is a premium from another offer that they got. Cheryl looking at macys, that consumer confidence, is it starting to really weighing, do you think from what you are hearing from traders. The ceo said that the consumer is really starting to watchhthe purchases. We are seeing lots of names in the group down. Traders talking about being concerned about the consumer. It is one of the reasons why we do have stocks down today. We will continue to watch the earnings. Cheryl the month of august, we talk a lot about the volatility. It seems like it could be a positive sign for the rest of the year, tamper or not. It could be a positive sign. The leadership has been similar over the past couple days. Stocks seem to have found a range right now. They have kind of been stuck there for a little bit. Cheryl lets continue to follow this breaking news that we brought you in the last hour. Fox business working on this story right now. The New York Times website is indeed under attack. Lets bring in Charles Payne to look at the stock story. This is not the first time, obviously, that it has been under attack. Is this just becoming more commonplace . It absolutely is. They can apply a certain amount of protection. They have to understand that they will still get compromised. Cheryl there has been a lot of leadership. At the same time, this, as an investor, we saw a little bit of aid dip in the stock. Charles so far, the jury is still out with respect to how well the strategy is working. You have a lot of people who are really concerned about that. It is banks that have been the biggest concern. I think it is absolutely a challenge. It is part of a trend that we will see continuing. How do they have the visibility into their infrastructure. They can very quickly get back. Cheryl they have to prove to everyone that they have a protected website. 12. 11 a share. Talk about value. Chaales just after being sold for a billion dollars. The washington post, they probably got four times more than what it was worth. They do want to remain independent. We will see. I do not know. Cheryl this is the New York Times website right now. I would not comment specifically on what is happening. We have not done all of the forensic analysis. Charles what would they do . They have charles that is a highprofile target. Very high value targets going down. We have seen this trend occurring. What that means is that these defensive technologies are not enough. Visibility above and beyond. How can we clean needs issues of . I think you for sticking around. Thank you very much. Appreciate it. Billionaire karl icahn, he is bullish on apple. Two respected names, two different opinions. Apple shares hitting 500 for the First Time Since january. These two probably would like to forget about it. Two stars of desperate housewives of new jersey going to court. That is coming up in just a few minutes. [ male announcer ] imagine this cute blob is metamucil. And this park is the inside of your body. See, the special psyllium fir in metamucil actually gels to trap some carbs to help maintain healthy blood sugar levels. Metamucil. 3 amazing benefits in 1 super fiber. 24th in its the hour. I am jamie colby. This using 750,000 in campaign funds. Jackson faces up to five years in prison. His wife faces 18 months. The railroad responsible for the runaway train will have its operating license suspended august 20. They will take away the certificate of fitness for the montreal maine and atlantic railroad. The two stars of the real housewives of new jersey back in court today. Those are your latest News Headlines on the Fox Business Network. I am jamie colby. Back to you, cheryl. Cheryl thank you very much. It is showdown billionaire edition today. Shares hitting 500 for the First Time Since january 203 of this year. Billionaire karl icahn tweeted we currently have a large position in apple. We believe the company to be undervalued. His actions are coming on the same day that oracle ceo said this. Apple will continue to drift without steve jobs. They both have valid points. They are still down 6 year to date. The problem is, while apple looks reasonable on a valuation basis, it is still the largest market cap on the exchange. Cheryl he said, you know, i want a larger stock buyback. He met with tim cook. He talked with him on tuesday. We know that. It would make him a top 50 shareholder. He may want a larger buyback. Apple has announced the largest corporate return to shareholders in history. They bought back 16 billion worth of stock in the Fourth Quarter alone. Cheryl the iphone will have to go under as far as price goes. Handholds across the world will have to go down in price. I cannot see karl icahn liking the fact that he may not be listened to by tim cook. Everyone loves to talk about apple. North of 100 billion of that is overseas cash. Cheryl they have 146 billion total in cash right now. I do not see them increasing their car buyback. Cheryl the world has lost its edison. We have lost this genius. Leary raised the issue. We saw what happened to apple when steve left. It was not a positive thing. All we are seeing is iteration of current products. The jury is still out on tim cook. We do want to see new Revenue Streams opening up. Cheryl i have to say, we have seen apple with out steve jobs. The stock shows it as well. Thank you very much. My pleasure. Cheryl comeback anytime. It is the fox business allstar showdown. We are in the semi finals right now. Only four players remain. This friday robert and scott will faceoff with two new stock picks. Are they evenly matched . The magic is gone at macys. For the quarter, at least. What the retailer needs to do to recover from a disappointing earnings report. Your mailman as your bartender . Deliver liquor to your front door. To a Small Business owners bringing the mechanics to you. There they are. The mobile mechanics. 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The average middle American Income consumer is pulling in 60,000 a year. Take a look at the stock. They do not really have the retail space. My thought initially it was these guys. Macys is saying that the consumer is weak. I saw the magnitude of this. We were not expecting much out of macys. What it means is we are worried about look with judy. Cheryl we are 12. 64 a share. Let me ask you about this. Target. I would think that target would be potentially taking the jc penney customer away. Is that potentially happening now . They are basically the same story. 75 of their Customer Base pull back on spending. They are not giving any more money. You talk a lot about the research. The average person is making the same amount of money as they were in 2000. Let me look at walmart really quick. Walmart is competing in the u. S. The competitors are doing a lot better job. They just have not been able to connect with the consumer. They have been spending millions of dollars in capital to boost up the stores, to stop the brand. They are having major trouble doing it. They are not even allowed in new york. The problem with target is they cannot get people to shop in the grocery section. They are not even exposed to accessories and makeup. What is up with that. Cheryl brian, thank you very much. Remember this guy . The post master general has way, your mailman could be your bartender. Peter hey, cheryl. The postmaster general wants to gin up some more revenues. Delivery of alcoholic beverages is on the legislative wish list as the agency considers ways to raise money. The change could raise as much as 15 million a year for the Postal Service. Lets say for example you are visiting a winery in sonoma. It is very easy to put them in primary mail. Ups and fedex have a lock on shipping booth. Cheryl, back to you. Thank you, peter. Bringing a mechanic to you. I will be live outside with these guys. Be right back. [ male announcer ] how do you get your bounce . With the bounce dryerer bar, my clothes will be fresh out of the drawer for weeks. And its great when things st a long time. Well. Most things. [ male announcer ] how do you get your bounce . [ woman ] cant regret fresh. Tracy i am tracy byrnes with your fox business brief. Criminal charges against two former jpmorgan traders. They are charged with conspiracy fraud and false firing. U. S. Households are holding less that. It includes mortgages, credit cards and auto loans. Prices were flat last month pointing to little inflationary pressure. Prices came in unchanged from noon. They are expected to rise three tenths of a percent. That is the latest from the Fox Business Network. Giving you the power to prosper. And 900 Million Dollars are changing hands online. Thats why hp built a new kindf server. One thats 80 smaller. Uses 89 less energy. And costs 77 less. Its called hp moonshot. And its giving the internet the room it needs to grow. This is gonna be big. Hp moonshot. Its time to build a better enterprise. Together. Cheryl agers vice interim president resigning. We are live in jerusalem with the very latest. The Vice President there who took a large part, there were many more peaaeful ways to and it can this. There have been muslim protests going on. We have video on how the army moved in to and these protests. They said the only way they would do it if Mohammed Morsi was brought back in. The army said no. A standoff and then violence ensued. We are just about 15 minutes away from a mandatory nighttime curfew. What that means, we dont know. Just about the gunmen continue to work their way through the streets. Cheryl president obama is closely watching the situation. The suez canal is open and at this point unaffected by the unrest in egypt. I know we have Oil Inventories today. Is there concern about what is happening in egypt . You have seen it pretty clearly. Brent has really regained the momentum in recent weeks. The good news is from an oil trader standpoint, as long as it continues to be the case, we will probably not be a major spike. We could blow this market off the top. Right now, the focus is on inventory. Inventory is kind of a mixed bag. If you look at cushing, oklahoma , you can see that. Cheryl thank you so much. Time for stocks now. Keith bullets is with us. We are down about 80 points. Really listening to what i am listening for. The one halt inside the Federal Reserve that is concerned about this inflationary cycles that we may be entering. We have to admit that despite the fundamental outlook that we see in the economy and company earnings, it is all about said speech. We will listen to the st. Louis fed president. We will probably be a little sloppy here on the take in the next couple days. Cheryl all right. Thank you. My pleasure. Cheryl time for your west coast minute. Pg and he is leaving san franciscans and the dark, literally. It has jumped 442 in the last five years. The state would have to pay for that. They do not want to. Shares are down. I told you about hawaiis plan. The department of Human Services announce it will not implement the return to home program because of potential problems like proper identification, criminal background check and etc. The state of alaska coming off a rare and wild heat wave. It is now being sold for as low as 196 roundtrip. It is causing all the airlines in and out of that area to engage in a price war. That is your west coast minute. Think about this. Bringing a mechanic to you. Coming up, i will be live outside with these guys. They want to take it last in national. We will see you outside. And opening the capital one purchase eraser . I need to redeem some venture miles before my demise. Okay. Its easy to erase any recent travel expense i want. Just pick that flight right there. Mmm hmmm. Give it a few taps, and. Its taken care of. Th is pretty easy, and i see it works on hotels too. You bet. Now if you like that, press the red button on top. How did he not see that coming . Whats in your wallet . Folks have suffered from frequent heartburn. But getting heartburn and then treating day after day is a thing of the past. Block the acid with prilosec otc, and dont get heartburn in the first place. [ male announcer ] one pill each morng. 24 hours. Zero heartburn. Cheryl this is a wrench. I have absolutely no idea how to use it. That is what i will call these two guys. Both of you are Business School grads. You saw a need for people who wanted their cars fixed at their house. We worked side by side at a repair shop. I saw that my friends and family wanted me to come to the house and fix it. After a few months, it became a fulltime job. How long does it take . 1525 minutes. A tuneup will take about an hour. We bring the parts and we do it in your driveway. Cheryl is this about the same price or more . Actually, it is less. Cheryl would you like to franchise this business . Absolutely. Cheryl everyone come this way. Everything goes in here. We will pick up the parts and bring them to the house. Cheryl what is in here . Very cool. Any car you have, we have all the supplies. All the basic stuff we stopped in here. Cheryl i will send it up to adam shapiro. You know a lot more about cars than i do. What you use the wrench for is when you figure out you cannot fix the darn thing. Cheryl me a bad temper . Never, adam. Adam no, me. The New York Times under cyber attack. The very latest as the website shuts down and emails returned. A down day for stocks. Jpmorgan is the biggest bull on wall street. The top Wealth Advisors told him something that has him screaming by. When loan collateral means to cheat, or chanel, chinas take on a loan. Adam welcome back to market now. This hour, the fifth biggest bull on wall street. Tom leaf, his ear and target on the s p is the highest on wall street. The undivided guest keeping the party going. Apple shares top 500. Whether or not the meddling is good for the tech giant. Plus, the very latest on the ups plane crash. Egypts Vice President resigns as violent turns