Transcripts For FBC Varney Company 20130820

The president tries to bounce back with sinking approval numbers. He brings in the celebrities, gets a new pet and embarks on a speaking tour to friendly audiences. Good morning, everyone. The 1972 Miami Dolphins get their day in the sun at the white house today and the president brings in sonny, a new dog, very appealing and visits colleges where he knows hell get a fogood reception. Youll see positive messages as the president tries to counter a slumping approval, looming obamacare and a weakening economy. Weve got no trend for consumer spending. Some stores are hurting and others the bottom line, you are not spending like you used to. For investors, will the dow drop below 15,000 . Its getting very close and so are we. Varney company is about to begin. [ male announcer ] these days, a Small Business can save by sharing. Like carpools. Polly wants to know if we can pick her up. Yeah, we can make room. Yeah. [ male announcer ]. Office space. Yes, were loving this communal seating. Its great. [ male annouer ] the best thing to share . A data plan. At t mobile share for business. One bucket of data for everyone on the plan, unlimited talk and text on smart phones. Now, everyones in the spirit of sharing. Hey, can i borrow your boat this weekend . No. [ male announcer ] share more. Save more. At t mobile share for business. At t mobile share for business. Join us at projectluna. Com here comes obamacare and listen to this. The department of health and Human Services sponsoring an obamacare video contest. And 30,000 in cash and prizes up for grabs and make a video that sells the president s health plans to young people. Three different categories, one, you are not invincible, two, perform a song, three, make animation. The administration having a hard time selling the Health Care Plan to young people, now, it will pay them to sell it to their peers. A lot more on that coming up in the program. To egypt, and Patrick Leahy saying the Obama Administration has temporarily halted all u. S. Aid going to egypt. Some in the arab world going the other way, pledging 12 billion in aid to egypts new government. Here is what the Saudi Foreign minister is saying today. To those who have announced they are cutting their aid to egypt or threatening to do so, that, we say, that are arab and muslim nations are rich and will not hesitate to help egypt. Look at the price of oil. The market apparently believes the military is winning, suez canal stays open, down to 105 on oil. And an outspoke Muslim American is with us this morning. And a possible 14 k handle on the dow . Weve got a couple of big name Retail Stocks going up this morning. Youre going to see it happen live. Gee, its great to be back. Right now, 7 years of music 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. 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Are you spending . Another theme is, is the dow going to test that 15,000 level . Sure looks like it. Were a minute from the opening bell and lets bring from chicago, larry levet. All right, were close to the 15,000 level on the dow. I say, one single word from the fed would turn this thing right around and away we go back to the races. What do you say . I couldnt agree with you more. In fact, i think if we get below 15,000, ben bernanke will hold one of the secret meetings and get the fed governors to come out and say theres no tapering in the future and Economic Situation is not improving as much as we need and were going to continue to buy like every single month. No question thats going to happen. Stuart thanks, larry. Lets see if its going to bounce up. It was right around 15,010. Were bouncing around. 15,012. Maybe well see a 14 k handle later in the day. Not sure. At this moment its 15026 as we begin. Individual stocks, home depot, yes, its a dow stock. A bounce back in housing giving profits there a big boost. A few bright spots in retail that weve seen recently. Home depots rally today could hold the dow above the 15,000 level. Its working in its favor now up over 2 on that stock at the moment. Look at j. C. Penney, a different story. A bigger loss than expected, sales keep sliding. Remember, the big shareholder bill ackman resigned, but the market likes it. Up 8 even though the loss was bigger than expected. Maybe a new start for penny. Up goes the stock. To apple, the tech world buzzing about the new iphones shipping next month so right from the top, lauren, where is the stock . Welcome back, stuart, the stock is up for the Third Session in a row. Up 1 2 a percent. 510 and holding above 500. Stuart, if you like your colors, not only are we going to get the new iphone 5 s and the iphone 5 c. Which means color, but were hearing that the 5 s might come in white, black and are you ready for this . Gold. Stuart is that supposed to make a difference to the stock, the color . Well, it could help apple in china. Gold means good luck. Thats, you know, china is not apples best market, but perhaps it could be its biggest, right . Maybe if they put the number 8, a lucky number in china. There you go. Stuart put the number 8 on it and maybe sell well. Lauren, well get back to you quickly. Never mind the dow breaking 14,000 today or any day. And varney companys shah gilani says hey, watch out, it could be 13,000. Guess what hes here in new york with us. Do you think, is this a probability, a possibility . What is it . Its certainly a possibility. Probable, im not quite sure, im still the reluctant bull and playing the market from the long side and putting on shorter positions to make defensive posture. You obviously think the market overall is going to go down a little bit. Make your case why . Its gone down a little, but it doesnt volunteer and i dont think we see any that certainly goes down. My next level is 14,444. If we break that, i was looking at 13,700 and change, if we break that, looking at a blink of an eye. Stuart the possibility . The possibility its an outl outlier. And if the fed says a single word maybe were not cutting on the printing, then its a whole new ball game. I dont think theyre going to do that. They raised this flag to begin with when they talked about tapering a while ago. Lets float the flag and see how the markets react. They didnt like it, walked it back and i didnt expect them to do and now its going along swimmingly. Were going down 4, 5 , if we break down then well hear from them for sure. I want you to give me at least two stocks na you think will hold up and maybe do very well in the event of a market fall below 14 k down to 13 or 12. What have you got . This that event, i like gold and theres a company, finding gold limited. Its a terrific company, they have two mines in south africa and about 700 Million Dollar capitalization and i play this from the takeover side. I think that the chinese are very well and deeply involved in africa. And theyre buying mines and minors and i think this is a central target so at this price level, i like it. Its not a gold play, its a takeover play from china, thats what your re banking on. Give me one more. I like fox, 21st century fox, the new fox, the old fox was old News Corporation is now new News Corporation and of course, that was the properties, these publishing, the newspapers, and education was put into the old company and the old name is now 21st century fox and that has the content stuff which is essentially your Global Properties in terms of tv and film production. As of full disclosure, obviously the Fox Business Network is a unit of the fox operation. Do you own fox 21st century, the stock. No, i dont, but my subscribers do and we have a little bit of a gain in it and on a relative basis, better and cheaper, in terms of the p. E. 31. And disney had the pd. And 12 1 2. Relative value basis, its a much better deal. Overall, big picture. Youre a little negative. You dont see a big rally. Im nervous. Lets leave it at that. Thank you very much, shaw gilani, thank you for joining us. Back to lauren, i have another retailer thats bucking the trend. Thats Urban Outfitters. Tell me the stock, please. Number two, as we speak, stuart, the stock is up nearly 9 . Urban outfitters own anthropology. Do your daughters shop there. Stuart tell me more about Urban Outfitters, im not familiar. Urban outfitters and anthropology, what theyve done as an entire company, what a lot of retailers wish to do. Theyve offered fewer discounts and they still kept those shoppers coming in the door. So, urban typically is more for the teen retailer, they do well compared to Abercrombie Fitch and arizonieropostalaeropostale competitors and appeal to the teens and mature shoppers. Theyre in my ear saying that Urban Outfitters is upscale, more expensive. An upscale teen place, yeah, yeah. Tell me about best buy, please, i know its done well and that stock is up. This is the number one performer in the s p 500 right now. The stock is up 9 , 3371. This was a dog last year, right . The new ceo comes in and says, we have two big problems, declining samestore sales and declining margins. And both of those are slowly getting fixed and investors liking this today. Profits and revenue in the previous quarter, both beat the expectations and online sales rose 10 . And thats important. We often thought that it was a showroom for amazon. Youd walk in and see something you like, and buy something from amazon not from where you were. So, thats changed a little bit, right . Yeah, its definitely changed a little bit. If you look in the quarter, samestore sales are down, however, best buy said if you take out the store models expected from windows, samsung, et cetera. And they were positive samestore sales so things are certainly looking better. Stuart lauren, thank you very much indeed. Back to you shortly. Okay. The dow is around 15,005. Right on the cusp of 15k. Got to tell you about arod, i have to. The saga continues to unfold. The yankees need him to win, oh, yes, they do. But now, hes suing his own team doctor. Yeah, the bronx zoo is back. So is brian kilmeade, by the way, hes going to joining us in the next hour on the arod saga. Shah gilani, cant get rid of this guy. He doesnt like the humidity in the summer so he gets it up here. What else do you have for us. Why are you so nervous . I dont think you can trust the stock market in august. Everybody goes away, volume and trading is extremely thin. It reacts to the slightest little statement from somebody or other. And you cant trust this market now. The volume has been thin. So, thats one that weve been not overly concerned about, a little debt if you will. What does concern me, when we see big moves, we see huge intraday moves, 100 points swings intraday. That tells me there arent a lot of bidders out there, not a lot of sellers, not enough liquidity on either side. Worries me in terms of a big selloff. Whoever is out there bidding gingerly, the markets could easily fall through support levels quick and thats what nervousness means because the structure of the market now based on what has become in terms of High Frequency trading and traders that should be there and arent. There are black holes outs there and one day well step into one. Stuart are we spending as we used to as a country. No, i think the consumer is deleveraging there. I dont think that the credit is there. Banks arent overly generous with the credit and theyre trying. The demand isnt there which is the other side of the equation and i dont think that theyre done. This is the fourth year of disappointment. We were supposed to get robust good recovery, its just not happening, is it . Its very discouraging. It is. Shah gilani, thank you very much. Are you staying in new york for a while or a little while. Youll be back. Thank you very much. Thank you. Check the big board right at 50,000, 15,000 to be precise. 15,002. We will he make a big deal of it if we see 14k. Something serious, more than 900 killed in egypt in seven days, including 100 policemen. Security authorities arresting the Muslim Brotherhood supreme leader. What is americas interest in egypt . Do we have a side that we want to win . And when can we expect scenes like this to stop . Well deal with this next. announcer at scottrade, our clients trade and invest exactly how they want. 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Well, for one brief moment the dow dropped below 15,000 and were close now. Down 8 at 15002. And there we go. 1 14,999. And looking for game stop, we had it on death watch and we should really quit doing this. As soon as we put something on death watch it goes straight up. Oppenheimer raised its target price to 60 and it has an outperform rating on the stock and that thing is at 47. 96. The parent of tv max and marshals reported higher profits and raised outlook and its up tv max, 52. Close it a thousand people dead in egypt this week. 4,000 injured. The u. S. And europe are considering cutting aid. Saudi arabia is going the other way, stepping in with a 12 billion dollar package from other gulf states as well. The author is here, dr. Janzen come back, good to see you. Thank you, stuart, always great to be with you. Here is my interpretation of whats going on, the military is winning the brotherhood is losing and americas interests, in my opinion, is that the military should win and really beat the Muslim Brotherhood. What do you say . I agree with you currently with that narrative. Thats exactly whats playing out, but remember what america is, were the adults of democracy in the world and revolution 1. 0 for egypt was about marginalizing mubarak and the National Democratic party and the ought congratulatic history of 60 plus years of military rule. Certainly what one year of brotherhood did that 60 years couldnt do is bring the People United against the brotherhood and now theyre trying to destroy churches and devolve them into civil war. And we have to have a vision of where we want egypt to go towards real democracy. We cant completely side with the military. Unfortunately, stuart, the narrative that the white house has given the world is that we were silent against the brotherhood and now critical of the military. So, unfortunately, makes it seem like americas pro brotherhood, but when in fact we want to navigate them towards the transition of civilian controlled military, transition towards real democraty, rather than more autocratic groups. Stuart nowhere to my knowledge in the muslim world, nowhere is anything that i would consider close to a democracy. Well, there really isnt, but they havent had the environment in which they could have these debates. Look, one year. Stuart doctor, doctor, im going to hold you off for just a second. I do apologize for interrupting, but a lot of people are saying, that islam is incompatible with what you and i think of as a democracy. Theres no doubt that this is the elephant in the room for muslims around the world and we came to america because this is where we could reform the ideas to bring them in compatibility. Islam is young religion, 1400 plus years and its going through the process of modernization and it wont happen overnight and we asked if you continue to push the issues, but the white house wont take a side in the house of islam and going to move towards liberty if we push those buttons and begin to challenge it. If we dont challenge it, youll continue to see this same battle between the two fascism. The Secular National versus the brotherhood, eiran, saudi arabi and the thugs that destroyed the middle east. Stuart one last one before i return to my original question. Do you believe the military is winning, this military government is beating the Muslim Brotherhood . Now, were a Financial Program and we look at this from financial terms and we see the price of oil falling and i have to conclude that its falling because this government, the military government, will keep the suez canal open without threat and thats why the price of oil is coming down. Do you agree . Yeah, in the shortterm, certainly. Were seeing some stabilization and that will be necessary to actually move towards a greater attempt or chance hat democracy. But our aid is small compared to what the saudies and kuwaitis are dumping into egypt. And we have to look at once they have the economic stability they can shore up institutions of democracy, but i dont think the future of egypt, the 10 million that were in the street just a month ago dont want to see militaryrun dictatorships and thats going to have to change for the longterm economic stability of the region and for the stability of israel. Remember, this military is the same military that radicalized the egyptian population for the last many decades. Yes, they had a peace with israel and yes, weve continued to give them money, but there has to be a strategy to modernizing this ideological battle with the region. Stuart dr. Jasser, always a pleasure to have you on the program. Thanks, stuart. Appreciate it. Stuart the dow is at 15,000 right there this tuesday morning. Now, i took a college tour last week and i didnt like what i saw. My take on the cocoon culture of college is next. [ 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. You know, we talk a lot about how you are spending less, but home depot and Urban Outfitters are bucking that trend. And then again weve got a different story of two other big names that you know. For example, disappointing profits at dicks sporting goods. Fewer customers visited those stores and a bigger loss at barnes noble, ebook sales and the ebook, the nook device and businesses at the stores decline. Six of one and half a dozen of the other. And an obamacare bombshell for you, young People Better off not showing up and paying the fine. Thats the view of the younge e congressional candidate and he joins us at the top of the 10 00 hour. I visited a college last week. I was given the tour. Did not like what i saw. Here is my take. All right, it was a private college, good name, solid academic reputation. Tuition, room, and board, nearly 60,000 a year. It was not the price that got me, although 60 grand does give you sticker shock. It was what the college was offering. As i said, academically it had a good name, got it, but seemed to me they were providing a cocoon, a luxurious extension of life at home, an extension of adolescence, a postponement of entry into the real world of adults. Mom and dad and the old home would be replaced by a cozy campus where everything was done for you. And it seemed like i was shown around a fancy hotel. For example, fabulous food, virtually what ever you like, all day most of the night. Rooms that were just like hotel suites. For a small extra fee, the college would handle your laundry. And of course, the campus was ubergreen. Log fires, a tradition at this fire heavily restricted because of the Carbon Footprint of burning wood and this college was offering to wrap its arms around youngsters and envelope them in the safe life styles they knew in their homes. And the appeal is to parents with money. Hey, send your kids to us and well make them feel right at home as if they never left. Is that what college is really all about . My answer is no. Becoming an adult should not be postponed. It should be embraced. Is 60,000 a year worth it . My answer is no. None of you emerge with massive debt, a weak job market and a tax system that penalizes successful people and does this college have a sustainability Business Model . Yes. Because in America Today parents with money are prepared to buy their Children Safety and luxury. On the college tour that i took, the parents lapped it up. The cocoon is what they want for their children. The kids on the tour, they looked bored to tears. Custome. Would you mind if i go ahead of you . Instead we had someone go ahead of him and win fiy thousand dollars. Congratulations you are our one millionth customer. Nobody likes to miss out. Thats why ally treats all their customers the same. Whether youre the first or the millionth. If your bank doesnt think youre special anymore, you need an ally. Ally bank. Your money needs an ally. 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Arod soo is the yankees doctor, really . Brian killmeade on his malpractice claim. If you are a 20 something with you save money by paying the penalty on opting out of obamacare . The august congressional candidate says yes and he is here. The dow did break below 15,000 earlier, it is up 13, 15,024. We thought home depot, very good earnings that would bailout the dow. At is now lower. 75 on home depot. Charles, thank you for occupying the seat. The numbers went up. Is this the end . And the worst week in a long time. Charles worst week of the year last year and that followed a week that snapped a losing streak. Don is it over . We are bouncing 15,000, is this over . Charles i believe we were so long overdue. And the biggest fool mack this year, a 5 will back so far. That is not normal. And life is the periodic pullback. And is more orderly, but doesnt have hyperjubilant field to it, and don the profits being reported by americas corporations right now are sufficient or good enough for Strong Enough to merit 15,000 on the dow jones average . Charles this is a market of individual companies so to your point some companies, some stock can along for the ride the we are starting to see is differentiation. To build the Mexican Grill going up and mcdonalds going down, Urban Outfitters that a great report going up, and aerospatiale has gotten crushed. The market is saying this company deserves this, this one doesnt. How that relates i am not sure but you are right, not all companies are doing well. Stuart same story of what went on vacation, you recommend individual stocks and a get out of the market and buy individual stocks. Charles we increase capacity, and 20 cash. Stuart i see look at the overall market ended depend on the fed. If the fed says one word about printing, the market goes to 16,000. Charles takes a good stock down with a i salivate. You look great by the way. Stuart incredible. The national Highway Traffic Safety Administration giving the kids love model s 4 highest safety rating ever. I got to believe the stock is up. It is up 22 3 , only 1 of cars get that rating. Stuart 148 on tesla is pretty good. You saw it coming. Charles not this time. We took profits. Stuart netflix will team up with polk Weinstein Company to offer paytv. Netflix, stock is where . Up 2 , nearly 3 , 66. They did silver linings, very popular movie, maybe that went to netflix first. Could that happen in a deal like this . Stuart i cant remember where was before i went on vacation, 15 or 20 lower. Had a couple good days. Stuart i should go way more often. In a study by the National Center for Public Policy Research Shows that young people would save money by skipping obamacare and pay the penalty, 95 in the first year. Congressional candidate the youngest in the nation from virginia, a republican named ron meyer joins us now. Good to see you again. Is that accurate that of the twentysomething pays the penalty, 95, up for those health insurance, they are better off than if they went into an Obamacare Exchange . Is that accurate . If you think saving one thousand dollars is better off than yes, we have three million young people will save 1,000 if they dont going to the exchange and i say yes, that is worth it to sedna one thousand dollars especially in this economy where a lot of people are underemployed and dont have money to pay rent much less spend an extra thousand dollars for insurance. We are addressing the problem which is affordability, we put the law on the backs of young people in the first place and will fall on its face. Stuart if i am a youngster, 20 something and not earning much money and i go to one of these exchanges i am going to get heavily subsidized. I am not going to pay full freight. Even with the subsidy the problem is we have three Million People who can save 1,000 with subsidies included and the problem is because they save some much money the obamacare and law estimates we have 2. 7 million young people enter the market and the problem is those estimates will be 1 Million People short, people whove been save 1,000 dont get in including subsidies that helps some people and dont help especially when we have an economy like this one where young people cant find a good start job or making the 24 26,000 range and so they dont qualify for incredible subsidy but have a little bit but still very expensive. Stuart do you think obamacares impact on young people is enough to sway votes away from a left, away from president obama toward you young republicans . Is it that strong . Were taking this message to young people. The key is if we had done it with obamacare it might not have passed. This bill was sold as a great thing to young people but the entire price, the cost on young peoples back at a time with the highest youth unemployment, since the great depression, we have 50 of young people being underemployed, the wrong time to the cost of this monumental bill on young people so if we take that message to people who are struggling, take it to people who are vulnerable land have a softer message as republicans then i tell you personally when i talk to young people, like the one that was talking to yesterday it resonates with them that young people being targeted and we need advocate in congress, more advocates in washington and republicans need to take that mantle if we want a future in this country. Stuart we hear you and the president is addressing some college audiences later this week and into next week as well. Thanks very much for joining us, appreciate it. Data industrials up 15,026, where we are. We did briefly dropped below 15 k, next item, the establishment media finally seeing the light of obamacare . Here is this had led from the Chicago Tribune and im quoting directly more reasons to delay and rewrite this illconceived law. Coming up 20 minutes from now we will ask a media watchdog if headlines like that one are a new trend in the establishment media. An exception to the rule or a new trend . Interesting stuff. Now we have the headline from the New York Times. Californias economy surging. Will that trend continued . Is it real . Is the timing right in its analysis . Lets bring in wall street journal joining the company right now. Looking at the New York Times article right here in saturdays New York Times it says the states budget problems are largely resolved, Unemployment Rate in california down from 12. 2 to 8. 5 and the Republican Party in california is virtually nonexistent. They are saying it is surging. You say what . All those things are true except that half the state isnt doing so well. What you will see is a long the coast you have unemployment in Silicon Valley of 5 , 6 . In inland areas around Central Valley is up 15 . You really have a tale of two states within california. Stuart the article in the times says Governor Brown is a shoe in for another term as governor because the coastal areas are firmly in his favor and they are indeed coming back. He is going to have a lot either time because he got his tax hike in november which brought in 6 to 7 billion of interest revenue each year which really is going to prevent spending cuts, would have gone unions mad at him. About that tax hike we will probably be looking at a primary challenge to brown. Stuart do you think the state is out of the woods . We call it the formerly golden state, we poured cold water all over it, it is not coming back. What do you say . I dont think it is out of the wood. It has been bolstered by the housing recovery, housing prices are up 25 in a lot of areas especially Silicon Valley, Orange County and the wealth affect. Stuart is that slowing down . Charles San Francisco had record a returning all the apartment and condos. Certain areas to your point is amazing but i wanted to say this gets back to the idea i find amazing, liberals have this agenda about income inequality, nowhere in this country is a more prevalent in california and because of policies that rich person can afford higher taxes to pay more for gasoline and housing prices but not only can afford not afford it but it impede their ability to climb up the ladder of success but they keep voting in the same people who put these policies in. That is right. The middle class is still hurting a lot in california and when you look at another few years environmental regulations kick into high gear, Renewable Energy mandate, cap and trade system which is already starting to kill manufacturing jobs and the electricity prices sorry you will see gas prices rise precipitously and doesnt get hurt. Stuart i will continue to call them the formerly golden state and i think i am still accurate. You ok with that . You can do whatever. Charles Silicon Valley engineer hollywood star, thank you. Stuart good to have you back. Thanks very much for joining us. President obama back from vacation back in d. C. On his agenda today welcoming a new pet to the white house and meeting the 1972 Miami Dolphins. What exactly is the president s strategy . Moving ahead, Going Forward . Democrat strategist you can expect more fireworks just like this. I you telling me the president was right that you can keep the Health Coverage you like . You can keep a you telling me . Stuart interior department sent out a 12 page letter warning alleppey stone pipeline could have, quote, longterm damaging effects on wildlife near its route. This contradicts the state departments report which said the damage would be temporary and indirect. Perhaps this is more evidence that the president will indeed killed a project. We shall see. Look at j. C. Penney, a bigger loss than expected and sales cap on sliding but that stock is up, 13 only on j. C. Penney but it is up 1 this morning and the parent of t. J. Mack and marshall reporting higher profits, raising the outlook as well, that is up 5 at 53. Charles is here, he was sitting right here having a grand old time. You are going to make some money for our viewers with coffee. Charles back to green mountain, it is breaking out through 80 above 81. Insider last week bought 14,000 shares, paid 1 million for stock at 75 and putting money where your mouth is, almost 40 of the total short but this next leg up will take the stock to 100 this time. Stuart at stock for couple years has been wildly traded. My day traders are special. Charles the story itself is remarkable, 1980 a guy walks into a coffee shop in vermont, invest in the company and reinvented themselves three or four times. I like a lot. Stuart 81 a share. Charles you noted the volatility. Stuart president obama is back from vacation. The buzz now all that he is back is about his new family dog called sunny and he is hosting the 1972 Miami Dolphins, the team that went unbeaten but here is the question. What is the president s strategy with his Approval Rating on the economy falling . Down 35 approval for his economic performance. Lets bring in democrat giulio who joins us now. What is the strategy . Elated out. You were not paying attention a couple weeks ago . He did a college floor like you, went to all these colleges and laid out a plan, a plan you should be happy about, bringing down the Corporate Tax rate 28 , for manufacturing down 25 , incentivizing business, running news abroad to keep revenues at home. Charles earned the revenues abroad so they dont expatriate them but earns them and the idea is to bring them back but do you want to get taxed twice . The bottom line is this is all probusiness the view should be filled with. Nothing to do with sunny the dog who is very cute. Stuart lower Corporate Tax rates on money that is repatriated. Overall 20 for manufacturing, 25 . Stuart exit 25 for manufacturing, that strategy number one. What else . He wants to invest in more Infrastructure Spending which you wont be happy with the lot of people would be. Stuart that is not new. None of this is new. This is the fee has proposed before. Because it is an old idea does not mean it is not a good idea and republicans as the rolling out of and should look at it and see where they find common ground. Stuart a president is embarking on a tour, a couple colleges. Probably a different finding. When he gets there, he will have a friendly audience. Is he going to say yes, we reduce the Corporate Tax rate, we are going to build infrastructure, what else . I dont know because i havent shared the speeches with me in advance. He has said things in the past 0 i dont know if he will again. Stuart obamacare for young people. Obamacare is asked and answered no matter how much you beat the drum is happening. Stuart what is he going to say about it . He is going to have to tell them you got to get health insurance. And thank god. Stuart if you dont get it but you have to pay a fine. There are subsidies for people who cant afford it. People who are 26 graduating college, presumably 22 will stay on their Parents Health care and other four years so they ar. Stuart old enough to move out of their parents homes the monthly fine will be 695. Each thousand dollars a year. 95 fine. Stuart will the president tell them that . Why should they pay a fine when they can buy Subsidized Health care . They dont what is going to happen is they did a fine and get sick and young kids think theyre invincible but they end up in hospital and who pays for . All of us. They should be responsible for their own health care. Why should we be responsible for their health care . They should be responsible for their own. I agree with you on that. Stuart is this going to be enough to turn around a president s Approval Rating on the economy . I think it should be and i will tell you why. People are frustrated and sick and tired that nothing is getting done in washington. You may argue i would argue the republican than giving him nothing to work with. That is why their ratings are worse than his. People are frustrated and tired and sick and saying i dont care whose fault it is, get something done. I understand where the frustration stuart when you are a democrat, limited time left in this interview. You must be a little worried about obamacare. It is happening. Stuart a political price to be paid with rising price. We ran the election last year and i am happy to report despite i am always a happy warrior. Stuart into next years election with nine or ten months of obamacare you are happy . Happy to talk about it because i think people are realizing more and more than they are going to get a lot of care and a lot of issues they had before whether it is preexisting conditions or you can keep your kids on your Health Care Plan, whether it is the fact you cant get thrown off your health care if you get cancer, people will find more and more that is beneficial to them and i am happy to talk about that. Even republicans by saying instead of talking about, not pointing at you but even republicans, a and wagging my finger but i will keep letting is like this. Even republicans are saying now talking about repealing it, talk about what you would do to fix it if you are not happy with it because just revealing it will make sure we go back to the bad old days when if you get cancer they toss you off or cant get health care. Stuart are we comfortable with the interviewer just conducted . Im always comfortable with interviews. You get uncomfortable around me. I am comfortable around you. Stuart very good. It is your real name. Angela, your daughter. If you want to adopt me stuart good to see you. Another day, another iphone rumor. Two new models in september we are told but not expected to be the innovative type we usually get. The apple hype machine up and running all over again. Stocks about 500, that is next. [ male announcer ] how do you get your boce . Im, like, totally not down with change. But i had to change to bounce dryer bars. One bar freshe more loads than these two bottles. I am so gonna tell everyone. [ male announcer ] how do you get your bounce . [ woman ] time for change stuart we briefly touched below 15 k barack 22 points, 15,033, quick stock check look at dicks sporting goods, didnt make as much as wall street was expecting, that stock getting hit, down 47 on that stock. New iphone rumors abound, they always do. Here is what we think we know. Apple will release two new iphone models, an updated version of the iphone 5 possibly featuring a fingerprint scanner, possibly in a new gold finish as well as a cheaper version of the existing iphone with a colored plastic body. Lets bring in laptopman. Coms head man, mark spoonhour, lets talk about the iphone 5 c, that is the correct name . Cheaper, how much cheaper . I dont think this he will stand for cheap. Probably, you will get in a wide range of colors similar to the ipod did a. In terms of how much cheaper i am guessing 99 because apples modus operandi is to decrease and cut the cost of the existing iphone for previous generation owner. This would mark the First Time Ever apple would introduce two new iphone is andy iphone 5 c would not just are americans who dont have enough to spend for a new device the growing and emerging markets and that is where theyre falling behind chinese based competitors. Stuart the apple 5 see coming up, targeted primarily overseas, not in the United States. It will still have an appeal here but they have to grow in those other markets. Stuart the iphone 5 s, that is not totally new but an upgrade from the old one. Were looking at a faster processor. A new cpu inside, better camera because theres a lot of competition has the best camera like nokia. Stuart i hear it this latest one, fabulous camera they say. Is that correct . The photo editor took it out and we will be posting those images this week. You will be amazed you dont need that point and shoot camera anymore but that is what apple has to do, demonstrate their innovating in all sectors and have more competitors coming at them. Stuart the airport 5 seek cheaper, maybe helps get the full more overseas. The apple iphone 5 s, upbraided, better camera, probably not as good as the nokia knock some flat camera. Theyre going after the sweet spot and what will coming to play is how apple leverages this iphone sensor at the bottom which will probably be where the home but news today and what can you do with it . People complain about i have to enter my password every time i make a purchase or unlocking the device. How else could they use Something Like that . May be making purchases online. Is really important. Stuart the fingerprint thing. How fast does it recognized . Stuart i got to ask about this bold, they are making a big deal out of it. On the string, gold color. This will therefore sell well in asia. India in particular and china this color is really popular with that audience and in the u. S. It will resonate too because people just dont want to have a device that looks like everyone elses and if they do it right bid is more of a champagne, razz opposed to gold. Stuart it is called champagne color and cheaper to make because of the process of making this particular color. Of the look elegant and be surprised if that becomes the top seller. Stuart you tell me that the color, the finish make that big a difference . It is not the innovation that whiles me but for everyday consumers looking to stand out versus their friends if you ask someone the you have an iphone v or iphone 4 . This is one way to stand out. It is not going to have a bigger screen. Stuart the fingerprint that whiles you. Power is going to make my life easier. Stuart im interested in a new nokia phone with a camera because i heard so much about it and it is using Microsoft Software and i own microsoft stock, full disclosure. Agree Windows Phone and i wish available for more carriers than at t. It is exclusive to at t. Stuart i want to learn more about this, good stuff. Thanks very much, appreciate it. We are less than two month from obamacare. October 1st is when the exchange is up here and it finally appears the establishment media is seeing the light on this new law. A surprising headline from the Chicago Tribune after this. Right now, 7 years of music 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. Peace of mind is important when so we provide it services you bucan rely on. With centurylink as your trusted it partner, youll experience reliable uptime for the network and services you depend on. Multilayered Security Solutions keep your information safe, and secure. And responsive dedicated support meets your needs, and eases your mind. Centurylink. Your link to whats next. Stuart rich edson in santa clara, calif. Got an exclusive interview with senator max baucus and congressman dave camp, theyre working on a deal to overhaul the tax code, tax reform. What is your head line . Senate democrats want 1 trillion in additional revenue, and max baucus says he doesnt think tax reform will raise 1 trillion democrats are calling for. It will raise revenue and despite the differences between democrats and republicans, it will get done. There will be a sense of inevitability, a sense that this thing is going to pass. There will be a tipping point, senators and house members will say to themselves on want to be part of this because the world embrace that and that is a good thing. They will be part of this. What i picked up on, max baucus as lower tax rates, that is the whole thing about tax reform, that is what senator reid objects to. And that is the headline. If they want the rate cut, and senior democrats, and raise an additional 1 trillion. And wood senior democrats, important subject. Thank you very much. The Chicago Tribune is calling the president to rewrite obamacare. How president obama is flouting obamacare and went on to say more reasons to delay and rewrite this illconceived law. The president s home town been returning, ridge noise from the Media Researchins us now. Is this evidence by a switch by the establishment media . Is it gung ho support for president obama, a retreat on obamacare . At least in chicago this is the paper that endorsed him twice, 20082012, david axelrod, the president s Campaign Manager used to work with the tribune, very instrumental in clearing a path for barack obama to win in 2004, taking on jack ryan with an expose on divorce records. For the ticket to return to him a signature achievement is big news but not being reported on the Big Broadcast networks for cbs, abc or nbc. Stuart do you think it might be a turning point . I think it is going to be chaos as obamacare is on rolled to the nation and im wondering do you think the establishment media will pick holes in it at the Chicago Tribune . The evidence is out there. Chicago tribune has seen it and written about it. You have the employer mandate being pulled back for a year, you have this cap being jettisoned for aayear, Congress Getting it done exemption past. These things have been incidental to know coverage on the big three broadcast networks which means a casual news observers are left in the dark about this. The media can report these things that are happening, draw attention to them and make them a big National Debate or be hit with a splash of cold water and surprise when it takes effect october 1st and the exchange is january 1st for the individual mandate and a lot of unwelcome change it is not covered of time it will be the big shock when it takes effect. Stuart i want your judgment. You made a point consistently, Media Research institute, the establishment media is very much in the president s camp, that it is very much left of center and cheering on the president s economic policies. I want your judgment. Do you think obamacare is the issue which separates the establishment media from the president . So far it has not mix of the tribune is one example of where they have made the jump. So far they see this as something that does more good than harm, extends coverage to people. They like to repeat the Million People getting insurance. Half of those are being forced against their will and being fined. The public actually turns on obamacare after it is implemented you will see the media switch. Right now they have no reason to. It is not going to be a big issue unless democrats open up the debate and lasting they want is for democrats to have one more vote before next years election. Stuart we will be watching it, thank you very much indeed. The dow is up 36, 37 points. We dropped briefly below 15 k earlier this morning and are bouncing back 36 higher at 1547. The Alex Rodriguez drama rolls on. Now all he is suing the yankees team doctor for malpractice. We call of the bronx zoo all over again. Brian killmeade is with us next. announcer at scottrade, our clients ade and invest extly how they want. With scottrades online banking, i get one view of my bank and brokerage accounts with one login. To easily move my money when i need to. Plus, when i call my local scottrade office, i can talk to someone who knows how i trade. Because i dont trade like everim with scottrade. Me. announcer scottrade. Awarded fivestars from smartmoney magazine. 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. Stuart listen to this. Teslas model s sedan getting by higher safety rating ever from the national Highway Traffic Safety Administration topping every make and model in the United States. Tesla, 140 up 2 . Drivers getting relief at the pump. National average for a gallon of regular down from a week ago. A lot of relief. California with the biggest decline of 0. 07 in the past week. 3. 54. In new report by the department of education finds 50 of College Students need federal aid to pay for school in 20112012 up from 47 , 20072008. Up next, Alex Rodriguez suing the yankees team for malpractice. Brian killmeade will weigh in on this. Stuart the arod saga continues. Now he is suing the yankeess team doctor claiming he misdiagnosed a hip injury last octobers playoffs. Brian killedneed joins us. I am losing track of all the trains of thought. Bring it together. What is he doing suing the yankees team doctor . Here is what he is saying. He was so hideous in the post season last year at a time in which the yankees desperately needed one hit, he was citing baseballs, rolling into attractive women in the stands in the dugout so he couldnt play. We didnt know why. A lot of times as you know they dont go out and said a my knee is bothering me. You will hideout after the season. He had a bad hip and needed surgery but claims doctors never told him how bad the hip was. Yankees say you got to be kidding me. And everything we have lets make some public. So far the arod camp has baulked about doing that to show a a rods accusation is wrong. Stuart this huge dispute between a rod, baseball stories and yankees and it gets worse and worse. Is that going on here . Alex rodriquez, allowed to as a member of the union to appeal that, it will take until after the season. When you are on appeal you play. That is a lot of players, opponent, in angry, the incident yesterday. Dont know if you have the tape, this is why theyre looking around like zombies, national television, the red sox almost get into a brawl, when Brian Dempster decides to ignite the yankees trailing by three runs by furrowing at their enemy, Alex Rodriquez. You still yankees so he actually galvanize the yankees to Alex Rodriquez because he was victimized. Rodriguez gets even by hitting a homer and proposing the yankees to a victory, and they are on the playoff race and manager biting for the manned made him a sympathetic figure in baseball. Bottom line is we know he cheated, an ounce of integrity not admitting it and it is bad for baseball but bought a lot of interest but got me on your show. Stuart the yankees want him to pledge a and want him to make home runs, they want to win. They need him right now, dont they . He is the best third baseman that have but if you ticket data of 40 million freed up to get other players and start rebuilding your foundation because it has been decimated this team has done very old but in the long run theyre better off without his salary and that is why theyre battling to get him out. Stuart you got to look at English Premier League soccer broadcast Network Saturday afternoon. That is the up and coming sport, baseball is suffering because of what alex arias is doing. I am not going to bite you on this. Stuart we really do like you. Thank you for joining us, see you again very soon. I think there right on that one. Stuart the only thing they should be visited be called soccer or football . Other than that you are on the same page. Stuart premier League Soccer from england is the up and coming sport in the United States of america i dont care what you say a. Professional bowling. Charles it has gone really good. I checked it out. Not a bear with soccer the percentagewise it is doing pretty good. Stuart i dont know where to go with this. Doesnt go away on vacation. A come back wooley headed. Dont forget to listen to brians allstar summit wednesday, 12 00 to 2 00 eastern on fox news. Com. Good stuff. Can you legally change your name for two week so you can sell a product . Maria schiarapova is trying to do that for the u. S. Open. Find out why she is trying to sell after this. The most Free Research reports, customizable charts, powerful screening tools, and guaranteed 1second trades. And at the center of it all is a surprisingly low price just 7. 95. In fact, fidelity gives you lower trade commissions than schwab, td ameritrade, and etrade. Im monica santiago of fidelity investments, and low fees and commissions are another reason serious investors are choosing fidelity. Now get 200 free trades when you open an account. Like carpools. Polly wants to know if we can pick her up. Yeah, we can make room. Yeah. [ male announcer ]. Office space. Yes, were loving this communal seating. Its great. [ male announcer ] the best thing to share . A data plan. At t mobile share for business. One bucket of data for everyone on the plan, unlimited talk and text on smart phones. Now, everyones in the spirit of sharing. Hey, can i borrow your boat this weekend . No. [ male announcer ] share more. Save more. At t mobile share for business. Lou coming up on lou dobbs tonight from the president s incoherent least policy to his insistence on calling the various white house scandals phony, we are joined by a leading psychologist dr. Jeffrey and dr. Julie hanks to tell us just what is this man thinking . Join us tonight at 7 00 eastern. Stuart and now all of this. 26yearold maria schiarapova is hoping to change her last name to sugar. 42 weeks during the u. S. Open tennis championship, trying to plug her line of sweets, it is the name of her candy line and she will have to go through the Supreme Court of florida to get approval. Charles, you are the one who brought this story. Give us more. Stuart charles the dumbest thing since prince changes into a symbol. We know the name and loved the name for a long time, your not marketing the name of the person behind the nation, the grit, the success, the beauty, she talks about but candy. 12 different flavors, splashy and sassy, that is where you are on the court and where maria schiarapova is. Why confuse us . Stuart we have just given her a ton of publicity. We have done it as a news story. Everyone now knows that is the name of her candy line. You just gave a commercial for young woman who turns me off when she grunts every time she hits the ball. Stuart she is going for a middleaged tennis crisis. She just lost, check this out, she fired Jimmy Connors after one tournament, they got together and said is this working . Did you just received a tweet, someone said bowling is better than soccer . Charles when of our viewers tweet it is better than soccer but he didnt like either one on tv. Stuart a Bowling Tournament at the end and a tie . Charles true. That is the case. Stuart you need a something. About a soccer championship cannot end in a tie as a penalty kick shootout. Would you prefer to watch . Charles i tend to stop on bowling a little longer than soccer, three minutes versus two minutes. Charles more varney and company in a moment. Last hour, i gave you my take on the cacoon culture of college, which, in my opinion, prevents young people from becoming adults. College extends adolescence. Heres your take. Louise says when it comes to choosing college, key for our decision was the percentage of grads getting jobs upon graduation. Good one. Hew says this, not only were the students babied, they were also manipulated and molders. We want to know what you are thinking. Tell us, please, its yours. Connell thank you very much. We have a bunch coming up here in the hour, jaguar, for one, telling fox business they are looking into the incident on the l. A. Freeway where the actor dick van dykes car was up in flames. Hes already, what type he was driving. We have ken from fox sports on the big money battle over arod saying his well, more complicated than you think, and unlike many people out there, ken says hes not ready just yet to pass judgment on arod, so hell tell you why thats the case. Jack, the cofounder of twitter, pushing the Company Square was asked about Larry Summers on the board of the company and the idea that summers could be the next fed chair. That comment in a minute, and the highest paid model in the world, no one comes close to gisel at 42 million a year. Tom brady can do nothing and be just