Transcripts For FBC Varney Company 20140106

And bitcoin goes back above 1,000 as more Companies Sign up to use it. The latest, zynga, they are the phantom pig people. And kidney stones around the world and the market rally, yeah, we cover it. Markets going up in a few minutes and Varney Company rolling along for 2014. [cheers] American Technology drove the market in 2013 and here is the first full week of 14. And theres a chip that would bring pc like graphics to phones. Next, apple buys snappy labs. The company that has snappy apps. Its adding camera functions to your smart phone. This is the company that apple bought in the last yearment if you clicked on any ads on yahoo your computer could be at risk for a virus. 300,000 users were visiting the infected ads every weekend. Look at this video, is this the way of the future . Your car, the new mobile computer . Thats a big theme at this weeks consumer electronic show. Well show it to you. First full week of trading. Were back to business on Varney Company. Futures looking higher. Could we see dow 17,000 by the end of this month . Or will the bad weather hamper stocks and the economy . Just for a moment look at this. Subzero temperatures in the midwest, this video from colorado springs, cars skidding off the highway and slamming into arctic blasts and its an arctic vortex and its going to hit the northeast late tonight. Single digit temperatures tuesday. Wind chills way below zero, but i promise you, we will be here. [ male announcer ] this m has an accomplished search and Analytical Group at his disposa but even more pressive is how he puts it to work for his clients. Morning. Morning. Thanks for meeting so early. Oh, its not a big deal all. Come on in. [ male announcer ] its how edward jones makes sense of investing. Of the dusty basement at 065th street the old dining table at 25th and hoffman. And theittle room above the strip mall f roble avenue. This magic momt it is the story of where every great idea begins. And of those o believed they had the power to do more. Dell is honored to be part of some of the worldgreat stories. That began much the same w ours did. In a little dorm room 2713. This magic moment out for drinks, eats. I ve very well fitting dentures. I like to eat a lot of fruits. Love them all. The seal i get with the super poligrip free keeps the seeds from getting up underneath. Even wellfitting dentures let in food particles. Super poligrip is zinc free. With just a few dabs, its clinically proven to sl out more food particles so youre more comfortable and confident while you eat. A lot of things going on imy life and the last thing i want to be thinking about is mdentures. [ arlie ] try zinc free super poligrip. One of the miller twins has a hearing proble and shes fed up with the daily hassle of her old hearing aid. So she got a lyric in her life and everything changed. Which one . Youll never knowanged. 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Both of us call 1 800 3 3292 right now for your risk free 30 day trial d experience hearing with zero daily hassle for yourself. Lyric is effortless. It gives me complete freedom. Once tyre placed in my ear, i never think about my hearing loss again. Showering not a problem. Traveling is not a problem. Theyre hassle free, theyre 24 7, theres no maintenance, theres nothing to do. Theres just absolutely no reason not to try it. 100 invisible hearing is wonderful. Finding one that works 24 7 with no daily hassle is just too good to pass up. So call now and ask about your risk free 30 dayrial. Get a lyric in your li. Stuart i am not quite sure i can even hear the lyrics, but im sure they are germane to Security Issues which have hit another bigname tech company. Yahoo. Hackers putting malware on the ads you click on. Will it affect the stock . We will check on it in just a moment. Going to chicago, all right, tray, lets hear it. Futures pointing higher than now. Will we hit 17k on the Dow Jones Industrial this month . This years of may seems likely. We are in a bull market. However ive said before, i will say it again, it will do it without me. I will not be long in a Global Growth environment that just is not there. The german stock market has doubled in the last four years, their gdp growth is like wishing around. 7 . Why would i want to be long equities in that environment which mark all you have to do is watch bonds, there is a lot of overvalued financial instruments, but none more overvalued than the bond market. If you see bond slipped and Interest Rates go up, stay away from equities, period. Stuart very nice. I noticed not many people behind you on the Trading Floor there. Could be the wind chill is getting to you guys. All right, trey, thank you very much indeed. The first full week of trading at the stock market. We are a little higher, expecting 40, 50, maybe even 60 points in the first couple of minutes. A couple of big names you know that are in the news. Jpmorgan did not warn about Bernie Madoff. The government says that will cost them 2 billion. Jpmorgan stock please. Nicole new high. They did not want america about a decades long ponzi scheme, and so it is interesting to see the stock moving higher up almost a full percentage point, they will be settling now with authorities for 2 billion, and you remember Bernie Madoff was convicted in 2009. Stuart i am shaking my head because i dont know the exact tally, but jpmorgan shelled out 20 billion altogether in the stock hits another high. You sweep away the uncertainty, youre going to pay, by the stock. We have the Security Breach at yahoo. It may affect thousands of users. Any impact on the stock . It is up about a quarter of a percent. This malware affects 300,000 users visiting the ads every hour. 300,000 users per hour. This may have been going on since december 30. I would watch oracle. They use security holes in java to expose java. Stuart this happens all the time. What looks like negative stories hitting companies, but the stock actually goes up. You clear away the uncertainty, get on with it, by the stock, i guess that is what happens. This is not a great story, but get on with that. Stuart look at the dow industrials on monday morning up 56 points, back above 60,500. We often said it, technology ruled 2013. In 14, apple just bought the company that makes snappy cam. It lets you do more with your smart phone camera. The stock, apple, down this morning for dollars. And we have Internet Security company that was the horse race stock of the day friday. It was a Charles Payne pick had gone straight up, up a little bit more this morning up 0. 11, 57. Tmobile u. S. Agreed to buy a way race from verizon wireless. Tmobile down, the other one is up slightly. Twitter in the news again, a downgrade. Okay, nicole, i think this is a big loser, tell me. Nicole many people who watch Stuart Varney like the way he says twitter. Down 5. 5 for twitter, 6508. You know twitter has been running up, several analysts coming in today, Morgan Stanley cut it from an equal weight. It hit the recent annual high over 75. Say it the way you say it. Stuart twitter. Twitter. Twitter. Move on. Pandora. More listening hours and the stock is up 5 , tell me more. C d listening data has been on the rise, radio listening keeps climbing and the effort, they af the 10 bestselling vehicles. Good news again. Stuart pandora, am i saying that correctly . Thank you, nicole. Now you can buy phantom picks with phantom money. They will use it to make purchases using bitcoin. Bad news helped send bitcoin back over 1000 apiece. Okay, lets get rid of this one, shall we . I dont think you like bitcoin. Would you ever put a dollar into bitcoin . No, i wouldnt. If it is not bitcoin, it would be another currency. This reminds me of people in search of value. The central bankers, who knows. Stuart hold on a second, here is liz macdonald. Liz we know there is no central bank for bitcoin, but it is driven by whether or not merchants will accept it as a medium of exchange. Even at overstock says we are worried about it being able to hedge the volatile currency. Maybe that was back like gold, but this is really slippery. It is above 1000. Stuart it would worry me that they would probably go after. That would worry me. They have already gone after it, the people who are distrusting and the Central Banks are trusting Anonymous Program trading something out of thin air, the irony is extreme to me. Stuart i would not put my money into it. The big story of the day, it is the weather. The deep freeze bringing a historic low temperatures. Minus 46 with the wind chill in minneapolis. That is not projected, that is now in minneapolis. Heres a question, will this deep freeze affect the economy . I think there will be the obvious impact. Impact a natural gas prices, that kind of thing but their other fundamentals worry about. We have wall street in love with derivatives. This a lot bigger issues. Stuart youre not considering the weather. You are just not into that kind of thing. O anything other than a shortterm basis, no. The question is if they will be protected because there was early snow on the ground. Will the energy bills go up from the record freeze we are seeing . Record lows in chicago, minneapolis, pittsburgh down below texas as well. Stuart i think my heating bill, natural gas, is going up, no way around it. Not a new year celebration, changing the subject in case you did not know, this is not a new year celebration i would wish on my worst enemy. Airlifted to a hospital in the navy, suffering a kidney stone i know this subject is a little off base, but you cannot resist it. Any comment at all on kidney stones . Liz it is not an easy surgery, it can be a dangerous surgery. He basically sent a message out saying they kidney stones zero asterisk on the system or product. Stuart this is only a story because some people got kidney stones and is him he had is a serious side to this. Any company that has critical risk, the company is at risk for Something Like this. Amazon has grown, it would survive even if he didnt, god forbid. Apple for example seems to be struggling after jobs. If youre looking at a company like facebook, strong personality, can it survive . That is the issue that comes to mind for me and i hope he recovers quickly. Stuart he will recover, you dont die from a kidney stone. I didnt. Thank you very much, indeed. Moving on, facebook may no longer be cruel, but it is profitable. And Mark Zuckerberg is okay with that. The stock down 0. 30, okay. Liz macdonald, you Something Else about facebook. Liz studies being done showing teenagers are not liking facebook, they are defending the use of facebook. 1618yearold telling this College Analyst in london in the uk they dont like facebook because their parents are assisting they stay on facebook, dont like a permanent record of who they are talking to and where they are hanging out, they like cap chat and others where there is no record. It goes away. There will be a multi city study in eight countries in europe, very interesting, eyebrow raising stuff on facebook. Stuart my eyebrows are raised. Check the big board early this monday morning first full week of trading for the new year, we are up 34 points. President obamas agenda legislating higher wages and it is all about income inequality. The president thinks he can return us to prosperity. What does art laffer think about that . He is up after this. Your credit, even the equity in your home. My years as a prosecutor taught me that we all need to protect ourselves from crime. In todays world, that includes idtity theft. Its a serus pblem. We all have to protect ourselves. [ male announcer ] while identi theft cant be completely stopped, no oneorks harder to protect you than lifelock. Yoeven get a1 million service guarantee. Thats security no one can beat. You have so much to protect and nothing to lose when you call lifelock right now and get 60 days of Identity Theft protection risk free. Thats right. 60 days risk free. 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. Stuart 10 minutes ago there was a rally, now there is not. Dow jones industrials slipped into the negative column for a were back up 4 points higher rates now. The price of gold is up right now. Fedex big stock buyback program, 2 billion worth of stock, they will buy it back, the market likes it. 140 per share. To the economy please. The president proposes to fixed income inequality by taxing the rich and raising the income of the poor. Drawing from nashville, art laffer. Former reagan economic advisor, so im sure he doesnt like the president s message. But that is a political winner, isnt it . Not an economic winner, but a political winner. I think it is a big loser as a matter of fact. This is one of the key issues and economics. Income distribution is very, very important. But to me, there are a couple approaches. You try to make the poor better off with handouts for economic growth. I have and to be democrat from the 60s and i believe the best form of wealth are still good highpaying job, that is the winner of all winners. You cant tax and economy into prosperity. This president has failed time and time again helping the poor. Look at the poverty in america, look at the devastation of this economy, that is what he and georggeorge w. Bush did. We need a new policy. Stuart i agree 100 . Margaret thatcher said they dont mind if the poor get poorer. The rich get poorer too. This bloody mindedness about it, but again, that might be a political winner. It never did over in england and it has never worked here. Look at jimmy carters reputation politically, it is a catastrophe. The only ones who have succeeded, the political winners of all time, jack kennedy, Ronald Reagan and bill clinton, they are revered, all pro growth providing jobs, not welfare. That is how you win politically, that is how were going to win in 2014 and 2016. In my view it might be with democrats, not just republicans. This is bipartisan growth policies. And that is the winner. Stuart show me the block of democrats who really say weve got to cut Corporate Tax rates, individual tax rates, because that is at the heart of what you are suggesting, you show me the democrats were going to do that. I will show you tons and tons and tons of them in 2014 and 2015, stuart. There are so many who would love to run on a progrowth agenda like their party has always espoused. We are not allowed to because of the political pressures holding the camp together and threatening to teach them a lesson in primaries, but there are a lot of democrats who would love to be progrowth. It is purely economics. You cannot tax the economy into prosperity and you cannot come rich with handouts, it does not work that way. Stuart in 2013 we got over 4 growth, oh, my goodness. Knocke knock me over with a. Did you ever see what our growth rate was like under reagan . 4. 3 would have been the lowest quarter of all those 12 quarters. This is ridiculous. Stuart before we say goodbye to you, and the Fourth Quarter of 2013, what kind of growth rate are we going to get running up to the election of 2014, november . I would really like to see it good. I dont know what it will be, but the economy is still very, very bad, employment whose population at an alltime low, longterm unemployment higher than it has ever been, production situation here that is still catastrophic in the u. S. Now there are great signs of improvement coming. I think almost all of them are coming by politics and the changes we can expect november 2014. Stuart every single one of our viewers is cheering you on and free agreement with you. I would love to be called as dapper and well dressed as you been on this show so far. I would love if i could get compliments like that. Stuart mutual flattery is a wonderful thing. My take on Climate Change, fear tactics. That is next. Welcomeack. How is everything . Theres nothing like being your own boss and my customers are really liking your flatrate shipping. Fedex one rate. Really makes my life easier. Maybe a promotion is in order. Good news. I got a new title. And a raise . Management couldnt make that happen. [ male announcer ] introducing fedex one rate. Simple, flat rate shipping with the reliability of fedex. Stuart Goldman Sachs says by solar city, that is a Charles Payne pick. Elon musk is the chairman. Up 12 . Ask po buying a rival. The buying company, it has hit a new high. Next at 10 00, judge and napolitano comes sounding off on the latest jpmorgan penalty. 2 billion, they should have known what Bernie Madoff was up to. He is here, the judge is here and he is fired up. Plus, the tiger mom is back making more controversial headlines. Sandra smith is a new mom investigating this hike we had it is tempting to laugh at the global warmers that they did not expect to find the arctic ice. And as he tried to explain the latest deep freeze. But it is not funny. Heres my take, no, it is not funny, it is intensely annoying. They have enormous influence on policy. For decades they have employed scare tactics to frighten us into pursuing policies that have hurt us. But their dire predictions have further thoughts. Candidate obama who said his election would mark the point where the oceans stopped rising. Once in the white house he pursued a green agenda. Hundreds of billions of taxpayer dollars poured into all things green. We didnt even have to change our light bulbs. What did we get for it . North american windchill the same as the surface on mars. A deep freeze paralyzing a third of the country, polar ice caps growing rapidly, the coal industry run out of town, a pipeline that wont be built, the list goes on and on. Policy has been changed to suit climate activists and were all paying a heavy price for it. But what really gets to me personally are the smog, contempt skeptics receive from the elites. Remember the expression the science is in . If you had spread any doubt of Global Warming, you are a neanderthal. And the expression Climate Change denier. That is a deliberate smear linking skeptics to holocaust deniers. I think we should respond to this climate chaage with ridicule, frankly the coming warming crowd allogeneic list. People are laughing at them. That rescue used so much fossil fuel, they will now have to plant thousands of trees to offset their carbon footprint. I hate cliches, but i cannot miss this one. You cannot make this stuff up, can you . Uh, mark . Get help i have my reasons. Lo, you dont have to feel trapped with our raise your rate cd. If our rate on ts cd goes up, yours can too. Dont feelrapped with the ally raise your rate cd. Oh that sounds nice. Ally bank. Your money needs an ally. But wi less energy, moodiness, and a low sex drive, i had to do something. But wi less energy, moodiness, i saw my doctor. Rive, a blood test showed it was low testosterone, not age. We tked about axiron the only underarm low t treatment that can store t levels to norm in about two weeks in most men. 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With a sigignature. Legalzoom has lped start over 1 million businesses, turning dreamers into business owners. And were here to help start yos. Open to innovation. Open to ambition. Open to boldids. Thats why n york has a new plan dozens of tax free zones all across the state. Move here, expand here, or start a new business here and pay no tax for ten years. Wereew york. If theres someing that creates more jobs, and ows more businesses. Were open to it. Start a taxfree business at starpny. Com. Welcome to the second hour of back to normal monday morning. Varney company theres nothing normal about the deep freeze hitting much of the country. Our question today is in business, who does it hurt . And who does it help . Here is a name for you thats coming up. Ma mcafee, the security guy is here. And it looks like theyre winning the battle hands down. And the judge is on the latest j. P. Morgan shakedown. The president is back from hawaii ready to roll out the inequality theme. And they have the vote for that. Sandra, please, frigid chicago and well take on tiger moms and fighting on the set from here in new york city. Relax, Charles Payne is here, too. Well, you know, we started out the first full week of trading this year was a nice 60 point gain. Its all gone. Were now down 3 points. 16,466. Lets get straight to the big story, shall we . What does bad weather do to the economy . First to you, charles. You dont think it does a whole lot of damage, do you . I dont think so. Unless we start thinking about a prolonged kind of thing and i think that pent up buying, and people want to go shopping today or next week, that kind of stuff. Have we got that weather map available for a second . It shows 50 wind chills and minneapolis, the minus figures, 4 degrees in dallas, texas. 16 in san antonio . Yes, it will hurt the Economy Today no doubt about it, but i would suspect anyone going to the mall in dallas might find a chance to go back to 60 to go ahead. If anything i disagree, i think that people are rushing out to the malls. Ive seen store shelves empty. Charles home depot and those kind of places. Whether its snow blowers or sleds. In the apparel industry, the coats theyve been cleared off the shelves. Last year the retailers used the not cold weather absent the snow for excuses and people werent going out and buying sweaters, its a good thing in some ways. One thing ill say, i think that energy bills, home heating bills. Oh, yeah. All across the country are going to go up. Natural gas has already gone straight up. Its up 30 from where it was a year ago. One other area of concern, restaurants. Went out on new years eve, this restaurant was sold out. Tough to get into. Got there new years eve night, frigid and snow was dumping on chicago the restaurant was half full and the waiters were complaining about it. Horrible night for them and i think its a real concern when it comes to the restaurant chain. Stuart youve exited chicago and moved back briefly. Charles she cant run away from the cold weather. Stuart you brought that lovely little girl with her. Yes. Stuart better here than chicago. Anywhere i am. Charles dirty little secret. Electricity surprises are at an all time high and people are going to Start Talking about it. Well, you started that and you didnt start the rise in electricity prices, but its interesting, this wa warm candidate obama says electricity prices necessarily has to go higher, and almost wrecked germany, and theyve pulled back. Stuart its your story and youre on it. You think that cold weather will be good news for online shopping, but i say that ebay is down today. And whats the story, nicole . An interesting part about ebay, its an analyst call. You had Morgan Stanley cutting into an equal wait and as a result, ebay to the down side, down 3 1 4 . Over the last 52 weeks, its pretty flat. A great 52 weeks for many stocks and this is not one of them and the downgrade doesnt help. Whats with netflix, thats down as well today. Theres a story today, talking how the Cable Operators and Satellite Television operators are now trying to work with netflix because netflix obviously has millions of viewers and had to work that out pertaining to fees and the like. Down 1. 7 . But up 278 since last january and that shows you the difference between ebay and netflix. Thats suspected there, thanks, nicole very much. Here is another tech stock. Weve been following, see if i can pronounce it correctly. Twitter. Its a move down and downgraded by Morgan Stanley and thats down 7 and thats a selloff. To Cyber Security. Last week, it was snap chat and skype. Today its yahoo . Are the bad guys winning here . Lets ask john mcafee one of the big names in online security. And it bears his name. You dont have any contact with that company any longer if im not mistaken. Its been a while since weve spoken. Indeed. Now, here is the question all of our viewers want to know are the bad guys beginning here hands down . Well, first of all, im not sure wed call them bad guys. The recent attacks are more delivering malware for advertising purposes and sort of defacing websites, not that theyre good guys, but we havent really seen much of an attack yet. I think what this points out is if a group of lebanese kids can get into skype and snap chat and deface the website, they could just as easily have done Severe Damage which they did not do. Were very vulnerable at this point to the real bad guys, the people who would like to bring down our economy or destroy something. Are we in a position to defend ourselves . Can you defend against really sharpedged organized an i tack attackers who want to take down an industry . I think first we have to throw our smart phones away and secondly, we have to educate our businesses and industries as to where our real trends lie. Its not just technology. Its the human engineering aspect. You know, the secretary that dates one of these bad guys and divulges a password or Sensitive Information that lets them get into the system. At the moment were against a serious attack . We dont have the Technological Capabilities and we dont have the training. For example, our smart phones. If you were to look at your smart phone aaplication that we so agreed to their terms and conditions, many of them do things like allow them to turn on our cameras and our microphones and record things without notifying us. And they can change our contact list. They can read our emails and our texts. We give them this permission. Most of them they do it for advertising purposes or for innocuous, although they may not be innocuous, other innocuous things. Whats to prevent someone from one of these companies from turning on your phones and listening to your private conversations or take images of things you do in private. This is a real hreat. Its ourselves. Our technology has advanced to the point that we no longer understand the risks involved. Stuart what can we do . What should we do . Do you have any broadbrush stroke thing to say that would get it out of this mess . Well, number one, first of all, hacking has become a far more organized thing. There are delivery systems, things like the magnitude exploit kit which was used by the syrian hackers. The black hole exploit kits. These are highly funded organized groups that create systems to allow hackers to easily break into other systems. We need Law Enforcement to ay attention to these things and these are very serious threats. And secondly im talking national, john. Yeah, but we do have an International Police force called interpol and we have International Cooperation because this is an international problem. Coming from inside america, theyre coming from outside. The syrian electronic army, its just a group of kids and they politically support president Bashar Alassad and they have no illinat the point in time. What if they do get an illintent . Defenseless against it. Stuart youre critical of obamacare, the website and security of personal information on that website, i think you said it was a hackers dream or something. Have you any reason to believe that security has been upgraded and were now secure and our personal information on obamacare . Any reason to believe that . Absolutely not. The fact that weve had no reported problems means nothing. Keep in mind, when the 40 million credit cards were stolen from target. No one knew until target themselves told us about it through their own internal audits. When you lose your identity or when someone steals your identity or empties your bank account they dont tell you with are they got the information or which website it came from. Unfortunately, the obamacare system does not have the interral audits necessary to tell the government that something happened and if it did, would they tell us . I do not know. You wait and see, there will be severe problems and theyre not going to find out until the number of people who are getting their identity stolen sky rockets in an order of magnitude and that could be months down the road. John, we appreciate you being with us. I hope you can be a frequent guest on the program. We appreciate it, thanks very much indeed, john. Thank you, sir. And Cyber Security names, as in companies that provide Cyber Security. Maybe takeover candidates. Certainly their stocks may look attractive. Charles and we had some last weee. Its interesting john mentioned the white hat hackers and mentioned Law Enforcement and we talk about the fact that Companies Need to invest and need to make the investment and here are four names, these are all potential takeovers after that fire ideal last year. Stuart all four of the companies provide Internet Security. Charles in one form or another. The favorite on the list, we took profits last week and im going to get to any dip. And a canadian company, all of these guys have done relatively well and i would suspect there will be more consolidation in the space. Its not about Law Enforcement, its about companies that gather data and let it be stolen easy. For the benefit of your viewers who are listeners, give the four names. Proof point, Palo Alto Networks and imperva, a canadian name. Stuart and j. P. Morgan is going to pay a 2 billion fine settling criminal charges related to Bernie Madoff. All rise, the judge is next on that story. 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Male announcer ] this m has an Accomplished Research andnalytical group at his disposal. But even more presve is how he puts it to work for his clients. Morning. Morning. Thanks for meeting so early. Oh, its not a big deal at all come on in. [ male announcer ] its how edward jones mas sense of investing. Remember when action star Arnold Schwarzenegger ran for governor of california and won. Another action star Steven Segall is doing the same. Hes considering running for governor of arizona. The star has a reality show which currently films in arizona and sequel has yet to come out and say which party he will represent, but we will keep you posted on that. 2 billion for the government says j. P. Morgan has to say for not warping about Bernie Madoff. Some would call this a shakedown. All rise, andrew napitano is here. Happy new year. Stuart okay, j. P. Morgan did warn the british authorities, they put in a report of suspicious activity to the british authorities but not to the american authorities. Thats why the authorities here are saying, you should have warned us. And if you didnt, were going to fine you. And j. P. Morgan typical of jamie dimon is caving and giving the federal government 2 billion. Is the money going to victims madoffs who severely need it. No, its going to the treasury. Stuart i heard that 1. 5 billion, reported, that is going to the Justice Department. Thats the treasury. And the Justice Department doesnt have the bank account. Charles what about the victims . The government doesnt care. The government cares about fleecing money from fat cats. Charles i think that people should understand. Its not just this, but every time you hear raise taxes, do this, lets accumulate late money, the government. It puts it through the machine and the victims of Bernie Madoff is not getting the money. Charles is 100 . The victims of Bernie Madoff are getting a lot of money, the federal government has nothing to do with it. Charles they should get the 2 billion minus a small administrative fee. The reporting are different for Great Britain than the United States and theyre vague and they basically repose in the bank, discretion as to whether to report something as being suspicious. There are some discussions, repeated, repeated activity ar the same number pops up all the time and couldnt possibly be or numbers below the threshold. If somebody were to deposit. 199,999. Theyre trying to avoid the reporting threshold. Why should it be a crime on the part of j. P. Morgan. Stuart because it didnt report it. A crime is something that harms someone with evil intent. J. P. Morgans failure to report these things was not evil intent, it was a judgment call that this was not suspicious. Because the standards in Great Britain are different than the standards here. So its not legit to exercise hindsight and the american authorities are saying they should not exercise that hindsight and you should have warned and because you didnt, wwre fining you. Thats not legit . Its not legitimate. Theyre basically saying we indicted you. Were not going to make it public or prosecutor on the indictment if you cough up 2 billion. You know what thats called . Bribery. J. P. Morgan stock hit a new high this morning. Its obvious thaa the investigators dont look at this the same way that i do. I am making a moral, a legal and constitutional argument, but not a financial one. J. P. Morgan stock would go up if janet yellen gave them a wheel borrow full of cash. J. P. Morgan stock would go down if jamie dimon took on the government and took on tens of billions of dollars. Even though that might be the right thing to do, youre exactly right and thattshows you how, not based on morality is the up or down of the stock market and charles will agree with me on that. Happy its over with. And just happy the news is done. They dont care about. Dont care about right and wrong. The wild success with the stock market predictions. It was immoral, charles . No, no, no. Welcome back. My desire to make the money was immoral. If i. [laughter] good point. Welcome back to sandra. Thank you. The lovely sandra smith. Its wonderful to be back. Stuart yeah, yeah. Youre done. You can have your show back. [laughter] good to see you again, judge. Good to be here. Stuart i hope youre with us for the rest of the year, im sure you will be. Tiger mom back at it. A new book listing which races make the best parents and why theyre the ones who will achieve the American Dream. We have a list and sandra will review it after the break. Its the eye of the tiger and thrill the fight and rising up to the challenge of our rival and the last known survivor in the night its the eye of the tiger [ male announcer ] this is the sry of the little roo over the pizza place on Chestnut Street the modest first floor bedroom in tallinn, tonia and the southbound bus barreli down i95. This magic moment it is the story of where every great id begins. And of those who believed they had thpower to do more. Dell is honored o be part of some of e worlds great stories. That began much the same way ours did in a little dorm roo 2713. This magic moment with her debit card. E and so does bill, an identity thief who stole marys identity, took over her bank accounts, and stole her hardearned money. Unfortunately, millions of americans just like you learn all it may take is a little misplaced information to wreak havoc on your life. This is Identity Theft. And no one helps stop it better than lifelock. 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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. Donwait until you become the ne victim. All right. Check the market. Were back at 16,500 with a 30point gain and check the share price of 3d systems. Yes, thats 3d printing operation and Credit Suisse raised the target. The stock is down 3 1 2 . Charles payne you like that. Charles im feeling it. Stuart and getting back into it. Charles were still in it. Stuart still in it, down 3 1 2 . Charles its a high beta name and when it makes extraordinary moves one way or the other. And theyve had a tough go so far in 2014 and a little bit of profit taking, blue chip names and anxiety. Stuart amazon down at 391. Charles apple is getting hit. Some say twitter i like to call it. Twitter . Was that nicole picking on you earlier. Stuart thats greet stuff. Thats down 4 bucks. 6 1 2 down im talking. A amy, the selfproclaimed tiger mom arguing that Chinese Women make superior mothers and ultimately have superior children and now shes making waves with her husband in their latest book called the triple package. In it she and her husband list what they call culture groups. Groups are raises and religions that are superior to others, thats their words, superior to others based on ow their parents raised them. Their income and occupational status and here is a list of the cultural groups. Nigerians, jews, chinese, indians, iranians, lebaneseamericans, cuban exiles and mormons, keep that list up there for a second. These are the groups she says make the best parents and therefore, the most Successful Children in terms of income and education. What do you say. Thats important to point out how shes defining success of children. Theyre looking at occupations and colleges they get into and the test scores they produce. This isnt on morality, it excludes all of that. So i beg everybody to keep that in mind. This is the tiger mom who said because see was tough on her children that she had the irrefutable evidence that they ended up in ivy league. Shes trying to be provocative and produced this list. I think every mom believes they are child issing go be to the next president of the United States or scientists. I know that charles is ready to chime in and he believes otherwise, its just meant to be provocative. I dont think this is backed up evidence and i dont believe its about a wellrounded child and adult that this tiger parenting is the best way. Stuart i would say shes laying down the rules of how to achieve the American Dream. Study hard, succeed at school, apply yourself at work. Charles i know its politically incorrect, but i think shes onto something significant here and something ive seen my entire life. You know what . We talk about me analyzing stocks all the time. You look at these companies and start to look at annual reports and when i saw ten years ago, i saw the indian names and the chinese names sort of in the officers down at the bottom and now theyre making their way up and all of a sudden lots of them are ceos and the only thing i think she should have had on that blacks from caribbean descent. Theres work ethic and what shes calling a superiority complex and when people come to america, they see what we dont sse, a lot of people born in this country who are blind to. For every 21, kid comes here and opens a 900 square foot four and you fast forward and hes worth millions of dollars and many more employees. And so much of the American Dream than people born here. Stuart, you can sit down at the end of the day once theyve gone to school and produce amazing test scores and hold amazing jobs and sit there over a cup of coffee and have an amazing conversation with you. Shes skipping out on something, talking like shes the general of an army here and i think theres a difference when you raise a child whether youre raising them just to be the ceo of a Major Corporation or raising them to be a well rounded individual and i think people take this to heart and implement things that are embedded in these cultures and try to implement them ii our cultures ann its not right. Charles one thing ill say unfortunately, back to the overarching question. If you dont raise your kid to be the ceo dont bitch when the ceo makes more than your kid and weve got to figure out in this country. Stuart this one for you again, sandra. Talk about protecting your child. Watch this woman jump over a row of seats to attack a university of oklahoma student who was allegedly taunting her son at the sugar bowl between alabama and oklahoma thursday night. You just saw it. Oh, my gosh. Stuart as a new mom yourself. Would you protect your childlike that . I dont know everything that was going on here so im not going to be quick to judge, but that was a little absurd and looks like she might have crossed the line there. I think that at that huge you should be able to defend yourself and your mom shouldnt be jumping over seats to protect you. Whoa, thats a dive. Stuart ive got to move on. Speaking of football and we were, by the way. Chances are some of you watched the nfl playoffs this weekend. Yesterday the 49ers kicked the last second field goal, beat the Green Bay Packers in freezing cold. The chargers stunned the bengals in cincinnati. The headline this morning is from saturday nights game between the eagles and saints. Saints win in the final seconds. 2624. Its a big number. 30 Million People watched. Where . Tell me. Oh, on tv. Yeah, yeah. That was the ratings. Im sorry, i misunderstood this. Thats the question, the fans were begging for saturday night football for a long time and the nfl was giving them thursday night nobody was watching and now theyve got saturday footballs. Used to be college ball is saturday and pro on sunday. And now theyre putting the game on saturday and then the i thank you for explaining and where we were going. Thanks, sandra and charles. President obama says that everyone deserves their fair share. Thats his 2014 agenda. Legislating higher wages because of income inequality. Will the record secure the democrats the young vote come november . Well have a young person talk about that in a moment. Welcome back. How is everything . Theres nothing like being your own boss and my customers are really liking your flat rate shipng. Fedex one rate. Really makes my life easier. Maybe a promotion is in order. Good news. I got a new title. And a raise . Management couldnt make that happen. [ ma announcer ] introducing fedex one rate. Simple, flat rate shipping with the reliability of fex. Stuart the big headline coming into this weeks Consumer Electronics show in vegas, making your car more web excessive warp, chairing a car into a miniature of your. Automakers are teaming up with at Companies Making cars basically big mobile phones. Any thoughts . And the big hazard, and distracting them more than ever. As you can imagine, the feds have produced a long list of the on makers to follow as far as implementing this mobile phone technology into the cars. Guess what private what is it is the mold flown one tablet with a consumer will demand. They have to figure out. Stuart and regardless of what the Authorities Say what distractions when you drive, Consumer Technology is coming into your car on your dashboard. They call it ivi, in vehicle entertainment. Stuart give me that number again. 35 million will be equipped with some form of idea i. By 201711 internet access. Take dollars a company is also promising it accidentfree automobiles which will be a big deal. Youll be able to listen to all this stuff and go on the internet and never crash. I could use that former new york city taxicab. They will take it because of tradition, the the york city cab ride is a hazardous to raise the others york city has to representative cab ride. Of course not. And yet to get out and get another cab. Stuart but you got here for. Tomorrow we have someone from lincoln and for joining is from the Electronics Show in vegas. He will join us tomorrow to talk of the connected car. No, the president wants a fixed income inequality by taxing the rich and raising the income of the poor, this legislate higher wages. Joining us from tampa, the voice of conservative youth. Our young people going to buy into this . Ides nothing to they are. We have the very libertarian bend it to our region date tared generation. There what i talked to says ides is what the government out of my life. I dont think that this will resonate. As of the and tries to drive home is, we have come so far. I know you and charles of this. Since the clinton years where democrats and republicans came together, pass welfare reform. Now we have a president who is trying to fundamentally teens the direction of this country cannot redistribute wealth come increase entitlements society commits create a permanent class of unemployed and it is simply totally different from where we came. Think back to fdr, 1935 tested of the gene, this is a very revealing point, the father, architect of the welfare states of the this will open with live destroy American Society if we become. A generation that is coming into this entitlement nation where were just dark this and titll of fun and dont remember the clinton years because we were just too young. That is important to drive home. Stuart yeah and people are not buying the income inequality policies fixing that problem by the president. Now tell me about the privacy issue. It seems to me that gnp will really do object to the probing of the facebook and twitter killed to to really get that. This makiig it big gains out of these privacies use is of the democrats were mullikens but libertarians. What do you say . Absolutely. And he spoke last time we talked about the social issue. This was the linchpin issue, if you will. At the tsa will be the linchpin issue of the next president s election. The president s poll numbers dropped precipitously among lawndales. This is an issue that will anneals care deeply about and will come back and hurt the democrats and president obama. Stuart if there was an election today, president obama verses a generic republican opponent, whosoever riven be, do you think they are a people under the age of 30 would vote the majority would vote for obama or a republican if it was all right now. At this moment i think obama. That being said, f someone like rand paul lewis made this issue big swoop in and put his face in the president ial spot, i think they could. Stuart the key for joining is. We appreciate it. Again let. Thank you. Stuart a deep freeze, and i mean a really deep freeze gripping much of the nation. The theme on varney co. , bad weather keeps people home and shopping online, but we have one wonder that might surprise you, a facial brick and mortar that cashed in big. Thats next. [ bell ringing, applause ] five tech stocks with more than a 10 . Changen aftermarket trading. All the tech stocks with a market cap. Of at least 50 billion. Are up on the day. 12 lowvolume stocks. Breaking into 52week highs. Six upcoming earnings plays. That recently gapped up. [ male announcer ] now the world isour Trading Floor. Get realtime market scanning whever you are with t mobile trader app. From td ameritrade. Stuart the brunt the business with j. P. Morgan,they did not warn clients about j. P. Morgan Bernie Madoff. And that will cost an. Technology rules, apple just bought a company that makes application that lets you do more with your smart from camera. Shares of apple or down the dollar. The security company, it was a charles pick as well, dow little bit today, but it had a recently. Twitter is in the news after getting a downgrade, the stock down 5 , down to 65. Pandora, a surge in net hours and that stock is up to . Next, while the deep freeze cribs the nation, are you shopping, online perhaps . Back in a moment. He has the most common kind. Its not caused by a heart valve problem. Dad, it says your ib puts yo at 5 tes greater risk of a stroke. Buit looks likeke my wamaybe we shouldd ask your doctor about pradaxa. A clinical trial, pradaxa® Dabigatran Etexilate mesylate . W pron superior to warfarin at reducg th riskf stke. And or dietary restrictions. No regular blood tests hey thanks for calling my doctor. Sure. Pradaxa is not for people wi artificial heart valves. Dont stop taking pradaxa without talking to your doctor. Stopping increases your risk of stroke. Ask your doctor if you need to stop pradaxa before surgery or a medical or dtal procedure. Pradaxa can cause serious, sometimes fatal, bleeding. Dont take pradaxa if you have abnormal bleeding or have had a heart valve replaced. Se immediate medical care for unexpected signs of bleeding, like unusual bruising. Pradaxa may increase your bleeding risk ifoure 75 or older, have a bleeding condition or stomach ulcer, take aspirin, nsaids, or blood thinners. Or if you have kidney problems, especially if you take certain medicines. Tell your doctors about all medicines you take. Pradaxa side effects include indigestion, stomach pain, upset, or rning. If you or someone you love has afib not caus by a heart valve problem. Ask your doctor abt reducing e risk of stroke with pradaxa. Stuart charles says he will make us some money. Two stocks. Lets start with foxbusiness. Com. The stock is down 23 from the high. Got an upgrade finally, their target is 100. Number one in the really beat the street. The last four quarters. Looking to grow 54 each year, well above the industry standard. Last week got above the 50 day moving average, technical it was fantastic. Dickinson 90. Longerterm, 103. That is my target. This is a tough one, nq mobile. It is a chinese name. It went from 25 to under ten. Has been coming back. Last week Morgan Stanley took a stake. She believe the numbers and think that Morgan Stanley did their due diligence, the stock is significantly oversold. Of these guys, and in the Third Quarter they said across the board financials are just mindboggling and part markets are expanding. This stock should be north of 20, maybe even 30 if the numbers are real. Stuart deepfreeze hitting much of the country. Does that mean that you will shop less . You can what is you can see the map. But it back up for a second. Rio looking at43 with wind chill pill minneapolis. For degrees in dallas costs 16 it centennial. Im getting a chill looking at the map. Stuart i cant see people going out and buying, but i can see them shopping from home online. Youre absolutely right. I was doing research. Shikar right now fenders are starting to shut down their stores and get rid of their employees for the next 48 hours because of this deep freeze. Theyre anticipating no one coming in to shop, to do any of the new years returns, to even see movies. So people are going to take to online and search shopping. Stuart as it bounced back with a cold snap is gone . In terms of on line i think that what we are seeing now is a huge trajectory to everyone by online anyway. Time is of the essence. Retailers are trying to get rid of the overstock they have for the holiday. It is all but turning around merchandise. Right now theyre trying to get in spring inventory. Unless we have a warm sap, that is the only way i see retailers doing well. Stuart i have three companies that i want your outlook on for 2014. Lets start with best buy. Ou saw this coming. Stock was up 230 in 2013. You were on the air saying that this would happen. What about 2014 . They are on an upward trajectory. I went on record saying that the new ceo, about to have a buyout. It did not happen. Stuart but what are they doing . At one time they had a negative cash flow. Right ow sales are on fire. They have finally realized to their customer is who likes the show room lightt to go online and shop. Stuart people are going in and looking at a television right, but they have used it to their advantage. What theyre doing is Price Matching and are using it. Stuart on line, in the store, from best buy. They go in and say, i saw a television for lower price. There will say, well, we will try to pressmens or go online and beat the price on that. Stuart theyre back and staying back. Sears, will they be around at the end of the year . The issue is that no one wants to go when. The brand name is synonymous with an old, crusty bread and. No one wants to shop there. Stuart does a dog . I dont know, only because they have such huge assets in terms of real estate. When you combine that with their balance sheets, theyre not necessarily going to die. Stuart j. C. Penney come a ziggurat . They need to regain its 75 of the market share. The stock is struggling. They are really trying to work hard. They are rid of their former ceo , ron johnson. But they need to figure out who that customer is to always there are trying to do. Stuart is it here at the end of the year . Yes. Stuart charles, that was your pick. A. 8. 80. Stuart you are from chicago. Sears is a cigar a company. J. C. Penney. On a street in chicago. In terms of real estate is around 2014. Stuart to use of there . No. [laughter] no one does. When everyone runs of the snowblower says charles. They have a huge market for repairing homes. It is a cautionary tale. The Hedge Fund Guys think that they cant rule universe. In the you know what, five or six ceo. Stuart let me get back control of the show. Coming up next, downturn at be, one of my favorite shows because of the positive message that it says about wealth and responsibility. We will discuss downtrend in aoc moment. Pressive than the research this man has at his disposal is how he puts it to work for his clients. Morning. Morning. Thanks for meeting so early. Co on in. [ male annncer ] its how edwarjones makes sense of investi. Of the dusty basement at 06 35th street the old ding table at 25th and hoffman. Andhe little room above the strip mall f roble avenue. This magic momt it is the sry of where every great idea begins. And of those believed they had the power to do more. Dell is honed toe part of some of the worldgreat stories. That began much the same w ours did. In a little dorm room 2713. This magic moment stuart all right. Downturn abby returned last night. At the kid was series number four. A 2hour special. I did not see ii. Why do i like it . It portrays rich, wealthy people as kind, generous, caring, job creators with class. Are you going to take me on this one, sandra . You going to deny that i am right . Unfortunately these are not selfmade millionaires. This is family money, and the left will hold that against anyone. However, i do see that they employ an entire house full of people. This that is enormous. Stuart and they look after them , to. And that is a great point. Without giving too much away, i watched to it the wants the to our show. It brings it back to the old, beautiful waterford crystal. It is very classy. I think it sends a good message allaround. Stuart it sends a message to the new mayor of new york that you, your honor, are totally wrong. I have to say to my have never seen an episode, but i did see yesterday they had a history of the castle itself. Stuart you have never seen downturn abbey . I told my wife and daughter about it. Now she has seen every episode. Everyone in the house is stuck. Am afraid to get hooked on anything else. I just dont have the time. Stuart luck to you have against it . I dont have annthing against them. [laughter] the more less are saying they provide a lot of lowwage jobs. Stuart the time is up. Your take on Global Warming, ano demagoguery, next. 24 7. Im sorry, im just really reluctant to try new things. Rely . Whats wrong with trying new this . Look mommys new vacuum cat screech you feel that in your muscles . I do. Drink water. Its a long story. Well, not having branches lets us give you grearates and service. Id like that. A new way to bank. A better way to save. Ally bank. Your money needs an ally. Last hour i gave you my take on the latest Global Warming demagoguery. It gets to me personally when they express smug content, if you express the slightest degree of skepticism about Global Warming. I said look, my response to this, global climate, this Climate Change nonsense is to ridicule it. That is what i said. Here is what you had to say. Eric says, anyone who says science is in or consensus of scientists believe does not have understanding of science. There is no abs truth in science. Roger said the weather changed in the centuries warming to cooling. We are being fleeced by those who know how to prey on the uninformed. Wellsaid, roger. The science is in. Wing nut bats like al gore making a fortune by lying. A little strong. Sandra, temperature at Ohare Airport dropped to minus 15, alltime low. Recorded at Ohare Airport. This is the coldest temperature chicago ever seen. I think all the Global Warming activists will have a tough time. Notice youre not hearing from them. Next winter we could have unusually warm winter they will emerge. Connell. U. S. Connell well talk about the weather no problem. Happy new year. Temperatures taking ahold of across the nation and slowing down business and travel. Well get to that on the show. Congress is back to work. Unemployment benefits ahead of jobs report this week. Single greatest threat to our national security. Overwhelming number of say it is cybersecurity. Mike baker coming up on that. If youre down and out at the office this morning youre not the only one. Why today is said to be the most depressing day of the year. Great. We look forward too that conversation here in this hour of markets now. Connell great tease for the show. Keep it here well tell you why today is brutal. Dagen can i get a hug . I havent seep y