Transcripts For FBC Varney Company 20140124

Now. Last headline, irresistible. A ghost ship crewed only by cannibal rats is heading for britain. And thats a show. And were about to begin. [ male announcer ] what if a Small Company became big business overnight . Like, really big. Then expanded . Or their new product tanked . Or not . What if they embrace new technology instead . Imagine a companys future with the future of trading. Company profile. A Research Tool on thinkswim. From td ameritrade. A Research Tool on thinkswim. voseeker of the sublime. Ro. You can separate runway diculousness. From fashionhat flies off the shelves. And you. Rent from national. Because only national lets you choose any car in the aisle. And go. And only national isanked highest in car rental Customer Satisfaction by j. D. Power. natalie ooooh, i like your style. vo so do we, business pro. So do we. Go national. Go like pro. New obamacare headlines for you, this is not what the president wants to see. The new fox news. Com poll finds that a record high number of voters, 59 now oppose obamacare, disapproval never been higher. Dig deeper look at this. Another headline, chris jennings, coordinator of the health care, far guy steps down. Six months after being hired to iron out the website. Jennings says he had Health Issues because of the long hours required for the job. And moodys downgrading insurers from stable to negative. The low signup rate for youngsters and last minute changes are creating uncertainty for the insurance industry. There you have it, three headlines, all bad for obamacare. To egypt. Three bombs exploding in cairo this morning, at least five dead. The explosions happened at or near police stations and fears of another uprising and certainly city chaos after last summers security takeover. Tomorrow marks the three Year Anniversary of the arab spring revolt. Were not going to forget about the markets, oh, no, a triple digit loss for the dow yesterday and were looking for a lower opening again today. Were going to pose the question again, is this the start of a correction, a 10 down side move . First, however, turns out jon stewart and i actually agree on something. These people could get together in a secluded mountain enclave to discuss concerns over income inequality. Hmmm, i believe the real hypocrisy are the poor people who say they care so much about income inequality, but couldnt be bothered to come to davos. Shows lack of commitment. [ male announcer ] this is the story of the little room over the pizza place on Chestnut Street the modest first floor bedroom in tallinn, estonia and the southbound bus barreli down i95. This magic moment it is the story of where every great idea begins. And of those who believed they had thpower to do more. Dell is honored to be part of some of the worlds great stories. 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Order now and get this document shredder to keep sensitive documents out of the wrong hands. A 29 value free. Heat wave. Burning in my heart those of us who remember martha and the van dellas. Thats Wishful Thinking on that song. Frigid temperatures are here to stay at least for the time being. Its going to get even colder, can you believe . Stop laughing, florida, its not funny. Were a minute from the opening bell, joining us from frigid chicago, its larry levin. We asked you earlier this week, is this the start of the correction . I think you said, yes, it might well be. So, are you being confirmed here . Yes, its the start of the 10 drop, do you think . Yeah, i think, you know, whether 10 or not. I think 3 to 5 is a minimum, maybe more from there. Normal, what we want. The government stepping out of the way and theyre starting to rise and equities going down. And its normal trading and its the kind of trading and your viewers and people standing behind you, and the markets are moving around. And with that being said, theres good action here, i think correction, it could well be on our way. Most people want a correction so they can buy on the dip, John Layfield, youre in bermuda, thank you very much. The opening bell is ringing and were going to be down quite a few points at the bell here. John come into the conversation about a correction. A correction is 10 down, are we getting anywhere close to that kind of down side move . I agree with larry, im not sure its 10 , i think were in a correction here, not a technical correction, but were having a problem with emerging markets, similar to last may when mr. Bernanke started talking about tapering. We have problems in argentina with the devaluation and having problems in turkey. Ukraine is having problems, a lot of problems in emerging markets and thats killing the carry trade and youre seeing a riskoff right now. Stuart stay right there. Ive got more for you in a moment. I want to look at the market for a second. Weve opened down, let me see, theres a camera in the way of the things. 38 points we are down as we speak. Now, in d. C. , there is a battle and its looming over the debt crisis, the debt ceiling, i should say, yeah, back on the front burner and the president wants, basically a blank check to keep spending and borrowing, the republicans want spending cuts before they agree to that. Liz macdonald. I dont want your opinion on whether or not were going to get a debt ceiling deal or not. The fact that were debating it and theres a deadline, is that part of the negative back drop for stocks . Yeah, its part of the negative back drop. When theres a debt ceiling fight. Its in the middle of the olympics, well have a wrestling match in d. C. , a referendum on the size of the u. S. Government. Again, the size of the interest costs on the debt and now its approximating the entire country of belgium. Thats an issue thats again looming its head in february earlier than expected. Stuart i think its a negative. Look, were 92 points down on the dow industrials and weve been in business precisely two minutes. Down close to triple digits, 161 is where we are. Look at microsoft. You dont see this thing moving like this every day, please remember, i own a piece of microsoft. Nicole, look at that. Isnt that great . Its great, stuart varney, up 3 1 2 today at 37. 29. They came out with their numbers and theres a profit on the rise. The xbox game console did so well on the holidays. The surface tablet did so well, software sales, businesses did well and the services for businesses and a slightly lower tax bill helps them along, too. Remember, microsoft is a dow stock, so that, the microsoft movement is presumably keeping the dow a little higher than it would be without microsoft. And by the way, were now down 110 points on the dow and puts us below go ahead, nicole. Liz our producer here, says 8 dow points. It seems light, but thats it, i know. And a weighted index. It would be interesting to see how caterpillar is, minus 6. Theyre slightly to the down side because they put out information that the machinery down. Stuart microsoft, im perfectly happy. John layfield come in from the beach and pass judgment on microsoft. You need to get rid of steve ballmer, dont you . They made 25 million in revenue the past quarter. Their tablet they said was left for dead made almost a billion dollars. Their devices about 11 billion dollars. The xbox sold 7. 4 million units. They are really divesting themselves just away from being a software company. Nokia is having some problems, but microsoft is hitting on all cylinders here. Stuart john, do you see microsoft hitting 40 . Yes, i do. I think youre going to continue to see theyve got to turn nokia, but i think they will. The tablet was a surprise. Liz youre waving your arms. No new ceo and im curious what you think, what John Layfield thinks, who is going to be the ceo . Havent a clue. I was pitching for the fourth guy, but microsoft retreated a little bit, but i live in hopes. And a couple more big names, and you know them. Will flat, smart phone sales from samsung and they just reported flat smart phone sales, is that good news for apple . More news on apple, were hearing that the next iphones could have a bigger screen. Back to you, john. Do you like apple . I think that carl icahn tweeting was the best thing for apple stocks. 5 . Look, he made 150 million with that tweet. He has 3. 6 billion dollars, and apple is up about 5 . Look, apple is a great company. One of the greatest companies of all time. They have not found a way to continue to innovate. Tteyre just taking their existing products and making them better. That being said theyre still a great company. Look, theyve got a ton of cash, if theyre giving that money back to shareholders, just a stock buyback, it shows theyre not creative and i would consider that a warning sign. Stuart theyve got 146 billion in cash, thats a chunk, is it not . Netflix was up big because it added 4 million subscribers worldwide in a quarter. Look at the stock today. 385 on netflix, john, are you buying it there . Hey, what a mistake, you should have bought it or i should have bought it monday or tuesday before the earnings. They were up 16 just on those earnings alone and looking at making 7 a share next year, they make about 4 this year, and thats still trading at almost a 60times four multiple. I dont get the valuation on this. With amazon getting into this market. I think any bump in the road they come down. Stuart we got it. John layfield, back to the beach young man. Remember that Princeton University study that compared facebook to a disease . Spreads rapidly like a virus, peaks, and then its soon eradicated like a disease. Facebook not too thrilled with princetons assessment and fired back with what im calling a cheeky response. Quote, in keeping with the scientific principle, correlation equals causation, our research unequivocally demonstrated that princeton may be in danger of disappearing entirely. What are you going to stay about that. Theres a couple of ph did candidates at princeton, this isnt an original thought. Who would have thought that a tech company would spread so fast. And theyre saying they will lose some of the Customer Base the next couple of years, and lets face it, a lot of people are calling for this and facebook itself admitted that theyre losing a lot of their teenage base. Stuart i think its all part of the attack on whatever company is big. Walmarts attacked because its big. Theyre going to go after google at some point and amazon and now facebook. Facebook got cheekier, theyre mocking out princeton saying you released your study before its Peer Reviewed and facebook is saying although our research on your eventually demise has not yet been peerreviewed. Every like for this post that we put up counts as a peer review. And theyre making fun of it. Stuart now this is serious stuff here. Gun maker, smith wesson, have joined sturm ruger saying it will not sell its semi automatic pistols in california anymore. Why . Because of a New California rule that took effect last year. Each firearm must have a firing pin that leaves an identifying mark, that links the gun with the bullet. You got that . Its very expensive for the gun makers. What do you think of this . So smith wesson saying its not possible for us to do this anymore and gone as far as to say this is ridiculous regulation and law because its unreliable and does not improve the safety performance of the gun. In fact, it could impair it. Theyre saying theyre not going to do this to our guns and this is another unintended consequence. Gun enthusiasts say the criminals will get around it, it affects the lawful gun owners who can no longer purchase these guns in the state of california. , but california has found a way around the second amendment, a way around. Yes. Stuart im trying to get this right here. They just want guns gone in the state. They want guns gone and theyve found a way to do it. Thank you, sandra. Almost half the losses on the dow are because of three stocks, were down 110. Which three. Visa about 7 points to the down side. Stuart thats a lot. Thanks, nicole. Were in a deep freeze in the northeast, temperatures in the low 20s this morning, wind chills much lower of course. Its going to get colder. While we freeze over here, europe is easing some of its Climate Change regulations, okay, and actually they are citing that these regulations are bad for the economy. How about that, liz . Yeah, something for years that say, were going to sacrifice Economic Growth in favor of the toughest Climate Change standards on the planet and now, theyre saying that wait a second, were mired in recession and we see the u. S. Fracking boom and weve got high energy costs that basically go into russia because they get a lot of supply from russia and declining competitiveness, so youre sending the binding agreements that the targets for renewables and this is sort of like europe the eu changing the goal post on their own debt limit versus the gdp. And theyre trying to spin it today as well, its amazing. Youve got it. More on this one. Sandra, check the big board, were down 111 points and dropped below 16,100. Opposition to obamacare is rising, its increasing, simply put, the legislation in my opinion is a disaster. What is mr. Obama to do . Just blame fox news. Thats next. The long winding road you left me standing here a long, long time ago announcer scottrade knows our clients trade and invest their own way. With scottrades smart text, i can quickly understand my charts, and spend more time trading. Their quick trade bar lets my account follow me online so i can react in realtime. Plusmy local scottrade office is there to help. Because they know i dont trade like everybody. I trade like me. Im with scottrade. announcer ranked highest in Investor Satisfaction with selfdirected services by j. D. Power and associates. My dad has aor afib. Brillation, he has the most common kind. Its not caused by a heart valve proble dad, it says your afib puts you at 5 times greater risk of a stroke. Thats why i take my warfarin every day. But it looks like maybe we should ask your doctor about pradaxa. In a clinical trial, pradaxa® Dabigatran Etexilate mesylate . Was proven superior to warfarin at reducing the risk of stroke. And unlike warfarin, with no regular blood tests or dietary restrictions. Hey thanks for calling my doctor. Sure. Pradaxa is not for people with artificial heart valves. Dont stop taking pradaxa without talking to your doctor. Stopping increases your risk of stroke. Without talking to ask your doctor if you need to stop pradaxa before surgery or a medical or dental procedure. Pradaxa can cause serious, sometimes fatal, bleeding. Dont take pradaxa if you have abnormal bleeding or have had a heart valve replaced. Seek immediate medical care for unexpected signs of bleeding, like unusualruising. Pradaxa may increase your bleeding risk if youre 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 l medicines you take. Pradaxa side effects include indigestion, stomach pain, upset, or burning. If you or someone you love has afib not caused by a heart valve problem. Ask your doctor about reducing the risk of stroke with pradaxa. Moving down a little more. Were off 126 points. Weve got currency turmoil. Original tina and turkey, weve got bombings in cairo, disappointing profits, weve got a rundown after that big runup and look at that, 26 of the 30 dow stocks are in the red. That means they are down. Where is the price of gold when stocks move like this, up, but not much, 5 higher at 1268. Procter gambles profits down, but look at the stock, 2. 7 reaching 80. Its got a decent Sales Forecast, no, no, hold on a second, it kept its Sales Forecast unchanged, but that stock is still up 2. 7 . Look the at starbucks, its raised its profit forecast and thats up 2. 4 . A new fox news. Com poll find a Record Number, 59 now opposes obamacare and look at the democrats. Theyre beginning to turn tail, too. About one third, 30 say democrats, that is, they say they oppose the health care law. Crystal wright, editor of the blog, conservative black chick, shes here. All right, crystal, one third of democrats oppose obamacare, i want to know when is that one third of democrats who oppose obamacare going to be translated into some kind of action from Congressional Democrats right before the election . When are we going to see it . Well, remember, during the Government Shutdown and after the Government Shutdown, stuart, you had Democrat Members of congress suggesting, hey, president obama, maybe we need to delay the individual mandate under obamacare. And remember, i think we had democrat senators sending him letters, saying this thing is disastrous, its going to hurt us before the 2014 mid term elections, so ticktock, ticktock, i think we can expect if things keep going south for obamacare which we all expect they will, i think the democrats are going to be coming out probably around the debt ceiling time in february saying, oh, weve rethought this, president obama because you know what . They want to save their congressional seats. Stuart but so far the president has not retreated at all. Hes standing dead pat, absolutely firm. No retreat whatsoever. So, if youre right and the democrats in congress do fire themselves up and put forward some kind of legislation to either delay or change, thats going to be one enormous clash, thats a battle, isnt it . Well, remember i dont know if youve read the recent theres been a lot of media activity and reports around the president s preview of the president s state of the union and curiously enough, president obama isnt going to talk about his signature legislation obamacare in next weeks state of the union. I dont know if were going to see a piece of legislation, i think youre going to see a lot of posturing from democrats saying weve got to do something about this and they may talk about introducing a bill, but the president , curiously enough is digging in his heels and now hes blaming Rush Limbaugh and Fox News Channel for his, what, inability to get anything meaningful accomplished in five years of his presidency. Stuart hold on a second. Really . Im going to read the quote direct from the president , this is it. The issue has been the inability of my message to penetrate the Republican Base so that they feel persuaded that im not the caricature that you see on fox news or Rush Limbaugh. He keeps digging in his heels and blaming us, but hes digging in his heels. Whats interesting, remember, from day one, ive never seen a president use so many excuses for why he cant even achieve one thing meaningful in what, five years . Hes got a second term now. All we hear from president obama is, its the republicans fault or its those people who dont like me because im black. Clinton never clinton worked with republicans, reagan worked with democrats. When are you going to take responsibility for your presidency, barack obama . Americans arent stupid. Republican or democrat, youre not getting it done. You know . Hes hes just in over his head. I think its hysterical. I mean, whats next . Santa claus, its cause of santa claus i cant get anything done . Oh, poor mr. President. Stuart sarcasm is a low form of wit, but i did laugh. Thanks very much crystal wright. Conservative black chick. I have to repeat that name every time, love it. Thanks, stuart. Stuart the pope says the internet is a gift from god and Liz Macdonald sets the president straight on the state of the union. Both of those stories are next. What if god was one of us [ male announcer ] e new new york is open. 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 taxes for ten years. Were new york. If theres something that creates more jobs, and ows more businesses. Were open to it. Start a taxfree business at startupny. Com. They call the numbers disappointing from xerox, less money coming in, down goes the stock, were 2 lower. Look at yahoo its back below, actually its now at 38, well below 40. Coming up next hour, my take on the shift in opinion over legalized marijuana. The president , eric holder, even republican governor rick perry, all part of the shift. My take on weed. And pope francis weighing in on the virtues of the internet. Dr. Ablow dont listen to this. The internet in particular offers immense possibilities for encounter and solidarity. This is something truly good. A gift from god. Liz . Youve got to hope at that princeton study isnt right that facebook is not because the pope is saying that people are marginalized or on the edge of society or poor, may get opportunity by coming on the internet and a more dignified way of life by getting a job. I think thats what the pope is trying to say. Stuart to me the internet and social media gives virtue because youre in a loop. Youre not alone. Youre in a loop, not facetoface. Look how the pope can reach out. 3. 5 million followers for the pope and hes tweeting every day. The pope didnt used to have that reach on a daily basis. Look at the coverage the pope has gotten on this it program in the last six months. And saying its about capitalism, the poor and income inequality and all put out on tweet, twitters. The word, on twitter. All right, in advance of the president s state of the Union Address comes up next tuesday night and we look at the real state of the union. Here is Liz Macdonald with interesting Labor Department data. Watch this. 09 to 13 we averaged 53,000 jobs a month . Yeah, this is a real curve, a real curb your enthusiasm moment. The president is expected to talk about how the recovery is basically solid. Its not solid. If it was so great economic mobility would not be stuck in neutral gear. There are fewer americans with jobs today than in 2008 at the height of the collapse, thats going on, basically behind the scenes. And the story is up on the internet, its going up on fox news site, too. Stuart the state of the the true state of the union. Stuart thanks, liz. Sure. Stuart apple looking to be the leader inwarable health tech thats why we havent seen an iwatch yet. Theyre working on it, new at 10 00. You hear this story, the deserted ship captained by cannibal rats headed straight for britain. Were on that story. Stay right there. [ male announcer ] wt kind of energy is so abundant, it can help provide the power for all th natural gas. More than ever before, americas electricity is generated by it. Exnmobil uses advanced visualization and Drilling Technologies to produce natural gas. Powering our lives. While reducing emissions by up to 60 . Energy lives here and she might have if notor kari, the identity thief who stole jills Social Security number to open credit cards, destying jills credit and her dream of retirement. Every year, millions of americans just like you learn that a little personal information in the wrong hands could wreak havoc on your life. This is Identity Theft. Lifelock offers the most comprehensive identityheft protection available. If jill ha lifelocks protection, she may have bn notified before it watoo late. Lifelocks credit Notification Service is on the job 24 7. As soon as they detect a threat to your identity within their network, they will alert you,rotectin you before t damage is done. And lifelock offers the proactive protection of checking and savings account takeover alerts. Lifelocks comprehensive Identity Theft proion guards your Social Security nuer, your money, your cret, even the equity in your home. It doesnt mattew d you are or how much money you have. Identity thieves steal om. You have to protect yourself. I protect myse with lifelock. [ male announcer ] while entity theft cant be completely opped, no one protects you better than lifelock. And lifelock stands behind their protection with the power of their 1 million service guarantee. You have so much to protect and nothing to lose when you call lifelock right now and try 60 days of Identity Theft protection risk free. 60 days risk free. Use promo code onguard. Order now and get this document shredder to keep sensitive documents out of the wrong hands. A 29 value free. We will bring you the full story of the ghost ship loaded with cannibal rats headed for britain. We even have a guest on it, a british guests but first all of this. Another stock seller happening. It is for profit, bonds in cairo, Charles Payne is here with explanations. Here comes the super bowl and from they guess johnny does the deep freeze of fact the line . What kind of Health Monitoring devices will apple pudding to the iwatch project . It is all downhill for obamacare. Mr fix it just quit. Monica crowley on that. Bridie barry january 24, 18 degrees in new york2, stop laughing, fla. Look at this friday morning, triple digit selloff. The dow was down 1 . 1 2 right now. You like this, dont you . You are eager to get the prices down and jump back in again. Charles it has been a long time. The biggest bull in the world you periodically want the market to pull back. If it goes straight up parabolic a pullback can be tougher. There are some things, this whole thing with the emerging markets overnight bothers me, reflects to the crisis that happened overnight. Stuart anxiety rating. Thailands emergency, turkeys currency, argentinas currency falls out of bed. I can link that to american stocks. Charles we were right on the precipices not long ago. You never know. Also we put it in proper perspective. The markets were looking for reasons to pull back and have gotten quite a few this week. Stuart this just coming out. Attorney general eric holder coming out saying no bank is too big to indict. Remembers the expression of the mud too big to fail . None are too big to indict. Bank of america lower. You came out and said no institutions are too big to indict, none in highlevel positions they cannot be indicted, criminally investigated, tough talk. Stuart im not surprised by it. Charles are they going to be bailed out again. Indict them all you want but i you going to take 1 trillion of taxpayer money, pay them to pay you finds . Are we going to play that game again . Maybe before the banks. Stuart chris jennings, coordinator of Health Care Reform is on the left, just stepped down six months after being hired to iron out the web site chaos. I call him mr. Fix it. He is gone. He says in an interview he had Health Issues because of the long and tense hours required for the job. This is just one more in the spring of negative headlines for obamacare. He could be telling the truth when he said my health has declined because stress causes so many health problems. This is god brought in six months ago to make sure obamacare, the launch, the web site will go smoothly. Is a huge disaster. He wants out of here. Stuart was he pushed . I think he checked out on his own. I dont think he was pushed because theyre trying to keep as many people on board as possible to make the transition to the march 31st deadline and it is a gag stuart with all the negative headlines when the democrats in congress turned around and say enough, mr. President , either delay it, fix it, repeals the do something with it because were not going into this election with his round. Top layer democrats are saying we need to fix it and get some republlcans on board and the gop wants nothing to do with any of this but this is what happened in watergate. Barry goldwater and a handful of Top Republicans that went to the white house and told nixon it is time to go. It is going to take top tier democrats going to the president and saying this is not working, cannot fix it stuart harry reid and chuck schumer, never. What theyre going to do is distance themselves and save their own skin going into 2014. They will not want them anywhere near their campaigns. They want the money but they are going to start from the policy. Stuart welcome back. Lets move on. Wearable tech all the rage. We all know apple is trying to break into the market with a rumored iwatch and we are learning apple just hired away at least two peopleho have expertise in developing medical centers, the kind of thing that can monitor everything from your Blood Pressure to your blood sugar levels. Technology that could set the iwatch apart from the rest of the smart watch pack. Guess who is here . Clayton morris, the to rule on tech joining us one more time. They hired two people with expertise in precisely what . Glucose monitoring, a little patch that would go on your hand, great reporting from 95 mack all over this, looking at these pieces coming together, these people developed a patch like sandpaper, putting it on your arm and will monitor all of those things inside your blood, known eagles at all, just a scratch. Imagine that being on the back of a watch and the medical Device Community rallying around this one device that can provide all sorts of information to doctors and in a rural area of this country that doesnt have immediate access, 45 minutes away like southern West Virginia driving to a heart center where a doctor could monitor these data would be remarkable and game changing. Stuart it would. Apple test lot of these things. My sources have been telling me this is a high priority for apple for a while. Key players coming in, big players, people being brought in from outside companies targeting and working on this so this will be a big finger from apple and i cant imagine a not coming to market. Stuart as described by you it would be a breakthrough product. If you look at samsung and the galaxy and your watch which doesnt do anything and you have to pair it with the specific smart phone with certain messages, that is just one step in this direction. Stuart if it works out as you suggest and a got a pat on it to monitor this stuff can i plug back into and Apple Computer or my smart phone and transmit the information directly to a doctor who may be in another country . You wouldnt even need to plug it in because lowpower bluetooth would send that information to that server somewhere so no more plugging in. Apple is moving away from plugging anything in to sing data back and forth. Using icloud and encrypted server technology, you have the outfit that goes with and i could send information around world to my doctor. Stuart if you are on vacation. Are you fired up . The whole idea of where of lowtech incorporated into the watch more than your arm . I dont want Wearable Technology for the sake of it being a terrible. I wanted to be smart, thinking about things we havent thought about. Just to throw on some Text Messages on my wrist is not want, i want someone thinking outside the box. I get excited about this. Charles we got to give clayton some proxy. We had predictions what would be big in 2014. You might have that big move to take over the internet of things. That really seems to be emerging as the main driver in the entire industry and we have a lot of guests but you really one that came to the table. Stuart you are welcome back. I am a psychic at home. I referred to her on a regular basis. Stuart flat sales and weak forecast from samsung. You want that one . Does that mean time to look at stocks with samsung exposure . Who better to ask men Charles Payne . Have we done with clean . You are sticking around. Going to charles first. What about those stocks i can invest in . Charles most of the names i like i like because a pick and shovel sort of thing is not the only customer so whether it is o l e d or s w k s i still think they are biased, because it never lived up to its potential, qualcomm is going to sell because of samsung is bad news. Stuart can i bring clean into this . This is not the stock side but the cool side, samsung lost its cool. What they are saying is the smart phone market is saturated and they might be right but that is not a number of other companies when steve jobs took the stage with the launch of the i phone he wanted 1 share of the phone market, not the smart phone market. Millions and millions of people in the world that do not have smart phones yet there might be saturation in the smart phone market for sure because people have their smart phones. There are millions of people in india and china, apple rolling out the iphone iv in india. It has been off the market for couple years if you look at the way it has been selling, the 5s in the united states, the iv, apple rolling out there iphone iv which is the 4yearold model in india and soaking up some of that low cost phone market samsung boned for a while. Stuart nicole petallides, couldnt resist another victory lap because i own microsoft stock and that stock is way up. Nicole on the day with down arrows microsoft up 3 today, did well as quarterly profit, sales of software, businesses they serve, the x box surfaced, everybody else, a little piece of microsoft. Stuart almost retirement territory but not quite there yet. Now this. The french president s love triangle is getting better. It is reported that first lady, acting first lady you could call her, smashed up the french president s office in a fit of jealous rage after learning of his affair. Causing a 3. 5 million worth of damage, smashed everything, national treasures, baseball bat time. Being reported that he has finally chosen which of the women he wants to be with. One guy and two women. Stuart 4 one guy and two women. Stuart he has chosen the actress, julie gayet. It is very fringe. Stuart takes the baseball bat or whatever it was to national treasures. Nothing like a woman scorned. Stuart 3 million worth. Never know what youre going to get. Charles his polls of gone up since this whole thing erupted. This is very french and he went with the younger woman. Sad commentary right there. Charles trying to figure a way out of it. 48 minutes to figure something out. Stuart republican or democrat i bet all of you can agree on this, you all hate parking tickets. After the break a company that has an apps that will fight those tickets for you. vo you are a business pro. Seeker of the sublime. You can separate runway diculousness. From fashionhat flies off the shelves. And you. Rent from national. Because only national lets you choose any car in the aisle. And go. And only national isanked highest in car rental Customer Satisfaction by j. D. Power. natalie ooooh, i like your style. vo so do we, business pro. So do we. Go national. Go like pro. Stuart the irs that it again this time reviewing the taxexempt status of a Group Called Friends of abe, made up of roughly 1500 right meaning people in hollywood. The irs asked for details about their meetings with politicians like herman cain. They say they have been under review two years now. At one point the irs demanded enhanced access to their web site which would have revealed their names. For the record the group did not meet that demand. Charles is here, yes he is, and he is going to make us some money with here is a stock i know. Charles i will set with a caveat, you dont have to buy it today, talking, putting a buy list to get there it gathered a little bit of a small firm like sit down here, beat riley. Were talking about stocks getting oversold did this one is oversold. They had a few missteps. Four quarters ago they beat the street by 300 and 3 quarters by 18 and two quarters of ago, than last quarter they missed. Pretty ugly trend, stocktaking huge beating you see on the chart but it is oversold, they should blow the revenues up 130 this year and the next five years at least 45 every single year. Stuart 45 every single year . Charles this is one to put on your list. Stuart that internet, isnt it something . Tired of paying those pesky parking tickets . There is an apps for that. Fixed is a new iphone apps, get a parking ticket, take a picture of it, fixed determined if the ticket could be contested in court. If they choose to fight it and they win, you pay them 25 of the cost of the ticket. If they lose you pay nothing to them but u. S. Still stuck with the ticket. We are joined by the founder, david, this is only in San Francisco. Yes. For the moment we are just in San Francisco. Stuart only in San Francisco can you contest a parking ticket and when. Tried that in new york you will lose a you know it. That is right. We are starting in San Francisco but we are looking to expand to other cities pretty soon. Stuart in San Francisco what is the proportion, the tickets that come to you, what is the proportion you think and you say will fight it for you . What proportion . Currently in San Francisco, over a third of tickets that are contested get thrown out by the court. Stuart when you get a third, you win a third . You got to pick the ticket, you dont fight them all. What we do is you download the apps and scan your ticket, we look up the violation and query our database to see what historical your chances of beating the ticket and you can choose to contest it or not contest it. Stuart you just saved me a lot of time and a lot of effort. If it doesnt work i owe you nothing but i got to pay the ticket. You got to pay the ticket. Stuart not bad. Do you think there is a difference, i know theres a difference in how successful you can be contesting parking tickets in different cities. San francisco, i used to live there. I know San Francisco very well. I lived there four years in 1975, it is not like other cities. Do using cute could get a one third success rate contesting parking tickets in, say, new york . Absolutely. We have been talking to some partners in new york and we think we could get more than 50 in new york. The issue with most cities is there are hundreds and hundreds of parking regulations in each of those regulations has lines and lines of fine print and at the end of the day each of those regulations have to be implemented by a parking officer who is just a regular person doing a regular job under stressful conditions and when that happens you start seeing errors occurring in the parking tickets. Stuart basically technicalities. Sometimes a technicality and sometimes an incorrect interpretation of what the rules are. Lots of common errors occur in parking tickets. In San Francisco and most cities if theres a street cleaning violation there should be a street cleaning sign within a hundred feet of the car. That isnt always the case across most of the city. In San Francisco we have a pretty unique rule where you have to curb your car on steep hills so frequently people get tickets for that but for that to be violent the curb great or street grade has to be over 3 and that is not always the case. A lot of times when the parking officer writes the ticket the street grade isnt over 3 . Stuart the name of the apps is fixed. Before you go, you have an accent, dont you . I was just going to guess. You lived here for quite a while, havent you . I have. I have been here 11 years and became a citizen last december. Stuart you are all right. Welcome aboard. Thanks very much for being with us. Interesting apps. We will pursue it. Legalized marijuana becoming a major issue in this years elections. My take, my prediction on when pot will be legal at the federal level next. Stuart a couple days ago amazon stock pablo above 400 back below 400, 396. Paper products co. Kimberlyclarks, strong sales. Up 4 , kimberlyclark common coming up, we go to vegas and the latest line on super bowl xlviii, can you bet on the weather . What about the jersey numbers of players who scored touchdowns. You can bet on that. The man who sets the line is with us. Of harvard guy. Young people gungho for obama when he took office six years ago how do they feel now . The voice of youth ways in. The president said marijuana is no worse than alcohol. Attorney general eric holder said banks should do business with beagle weed. Republican governor rick perry says decriminalize it, what is going on here. There is a shift in Public Opinion and therefore a shift in politics. Theres an Election Year and both sides seem to be moving closer to full legalization. Not taking science here, is happening and it will be an issue in this years election. The most Important Development comes from eric holder. He is the federal authority in the debate, marijuana remains illegal at the federal level but he is saying it is okay for banks to deal with hot sellers who made their money at the state level. That is a softening of positions from d. C. Throwing president obamas easygoing attitude and it looks to me like the democrats are going into this election as pro weed. Republicans picked up on it too. Texas governor rick perry calls for decriminalization and libertarians have aaways been in favor and their influence is clearly growing. Could it be that both sides are moving in the same direction. Two things at work here. First the youth vote, youngsters are assumed to be pro legalization. President obama wants to keep youngsters in his camp. Republicans love to make inroads into a group the locked them out for years so they go for the youth vote. Second, money. When colorado went full the legal we heard reports of Million Dollar sales, strong tax revenue and a flood of hot tourists. If that state can make money on it why cant we . Here is my prediction. Five years from now Recreational Marijuana will be full the legal at the federal level. There will be a fight with some states that still want to ban it in legal fights over where and when you can smoke it but the shift towards a okay pot is unlikely to be reversed. [ doctor ] and in a inical trial versus litor, crestor got more highrisk patient bad cholester to a goal of under 100. Way to go, crestor yh tting to goal is a big deal, especially if you have high cholesterol plus any of these risk factors. Because you could be at increased risk for plaque buildup in your arteries over time. So, when diet a exercise arent engh to lower cholterol, adding crestor can help. Go, crestor oh, yeah [ female announcer ] crestor is not right for everyone, like peoplwith Liver Disease or women who are nursing, pregnant, or may become pregnant. Te your doctor about other medicines yourtang. 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[ woman ] i love the convenience of adt. I can finally be in two places atnce. [ male announcer ] call today to get adt for less tha 2 a day. Helping protect your business, is our business. Adt. Always there. Who found a magic seashell. It told him what was happening on the tradg floor in real time. The shellrought him great fame. But then, o day, he noticed that everybody could have a magic seashell. [ indistinct talking ] [ male announcer ] right there in their Trading Platform. [ indistinct talking continues ] [ male announcer ] so the magic shell went back to being a. Shell. Get live squawks right in your Trading Platform with think or swim from td ameritrade. Stuart voters turning their back on obamacare. A new poll finds a Record Number of people, 59 oppose the healthcare law, disapproval has never been higher. Who is president obama blaming . Fox news. Here is what he said in an interview the gave tendon new yorker magazine quote a key issue has been the inability of my message to penetrate the Republican Base set mayfield persuaded i am not the character that you see on fox news or Rush Limbaugh. It is all our fault. Such a weiner. He is so whiny. Stuart you have wrecked obamacare. Complaining about one network, fox news that puts all viewpoints on when he has ten networks broadcasting cables supporting everything he does, every major newspaper, every news weekly in america, hollywood, the list goes on and on and he tends to focus on one network that actually put opposite points of view on. Is not him, it is not fox news but his socialist policies. Stuart the number of viewers fox has has something to do with a lot of it. Got to look at the big board because we are now at session, lows of the day down 150. Charles, in the news background currency turmoil, argentina, turkey, etc. Bombs in cairo, poor profit from some big companies. Charles top line revenues from every quarter. The top line continues to be sloppy. Stuart how much money coming into the company . Charles there are ways to manipulate that, fire a lot of people are cut back research and development but what is coming in on the top line is extraordinarily disappointing for a long time. Stuart i know you are cheering as on because you want to buy cheap. Charles the markets go up and down, and sooner rather them later though it could be a harry and scary ride on the way down. Stuart you want to make some more money. Turning point usa founder charlie kirk with us this morning, he has an opinion piece on the washington times, as i understand the young people were basically tricked into voting for president obama a couple times over. Welcome to the program. I take issue with that. I dont think young people were tricked in any sense of the world. I think people wanted free Birth Control for women, they wanted a marriage, i think they wanted legalization of marijuana and thought president obama would deliver in those areas and the republican candidate would not. I will agree with that the deeper they were sold more on the style than substance. The main three things affecting young people, student loans, unemployment and the nsa, obama has delivered on really what we thought the policies would be enacted. Obama care devastating my generation. They dont want their cellphones listen to, theyre being bankrupted by student loans. What i detailed in washington times, these young people were tricked, hypnotized by the gay marriage rhetoric, the style over substance. In reality the substances bankrupting my generation. Stuart suppose there was a vote taken today among young people under the age of 30, you are 20, under the age of 30. If it was president obama against a generic republican candidate, that republican candidate would win with those young voters . That is a wonderful question. I still think obama if it was a candidacy type thing he would win. It is starting to swing but it is incumbent on the other selling and American Idol tight fashion like barack obama did. Mitt romney did not sell himself in an American Idol tight fashion. He treated as if they wanted young people to invest in a stock. Barack obama didnt sell it like a stock but mike was running charles we heard the saying around for a long time, if you dont vote democrat when you are young you dont have a hard and if you dont vote republican when you are older you dont have a brain, the idea these kids havent lived life, they dont have a mortgage. A lot of the problems in this country they dont feel, they dont realize the percentage of the burden of the debt they are playing, they dont know what. They have been pumped away from them. With the obamacare, Health Exchange until 26, increased entitlement mentality but your point we are starting to see it change. Because of obamacare, young people over 26, administration is not afraid to say we need young people to pay for this or else it will explode. They are not afraid to say that and a lot of young people are saying i have to play inflated premiums for something i am not going to use to support older sicker people and a lot of young people cant afford it. Stuart you think the two issues which will move people away from the president are obamacare and an essay spying . It is not a republican or democrat thing. You are seeing a lot across political lines people saying i support or dont support coming in the midterms and interesting dichotomy, substantive message for young people. Stuart are you sure this is not Wishful Thinking . One day you want to be the republican candidate for congress, the senate and the white house. I know you do. There are a lot of trends that if the gop in 2011 can make a sales pitch there could be stuart what is the reaction when you go on College Campus and speak and talk about being a conservative . Did they throw you out . Almost. I was at nyu and they say i never heard the message of freemarket and capitalism and stuart were you speaking in a public forum . In a debate typesetting. These are smart kids. It can help people . The funniest thing in the world. I am not kidding. Adam smith is not taught. The moral dimension of this is not spoken to. We talk about it on this show, steve forbes talked about it. Theres a moral case of capitalism and free market and very few on the conservative side actually make the moral case, liberals always try to cast their socialist policies in a moral and emotional stuart welcome. Young people hate poverty. Best way to eradicate poverty is a freemarket capitalism, raising standard of living and if you look at the iphone, we started to get cellphones when they were huge nextel razors, in our lifetime we have seen innovation and i phones and young people are like my standard of living did get better because of trade and capitalism and innovation and that is the way to reach out to younger people. Stuart remember this big, my dad had one. Got to punch it in but now everything, the cds, all in one device is revolutionary. Stuart when i went to college there was no such thing as a computer, a fax machine, a cellphone. That was what it was like in my day. For all those things, that is the message. Stuart did he caput off nicely . Welcome back, good to see you. Wait for it. The ghost ship adrift in the atlantic, crewed by cannibal rats heading toward england. I am not making this up and i will explain it next. [announcer] welcome to the allnew intuituickbooks. Run your ente business with it. Get paid howeverou want with it. Get real work done wherever with it. Make all your numbers play nicely with it. Say buhbye to theld way with it. Run yroll with your finger with it. Scan receipts with it. Sync this stuff with that stuff and that stuff, with it. Maintain your sanity with it. This is yourusiness on the allnew quickbooks. Run with it. Stuart apple you might say the world is celebrating a big milestone, 30 years ago today the first macintosh computer was introduced by steve jobs, arguably changing the tech landscape forever. Remember the commercial they aired . 30 years ago apple stock hovered above 3 a share. Apple rival microsoft, i own that stock, reporting solid earnings, the new x box for that, microsoft sold 4 million of them since its prechristmas launch and the stock is up 2 . Attorney general eric holder saying in an interview no large American Financial institution is too large to indict and no Bank Executive is safe from criminal pro bank stocks taking a hit on that. Up next the ghost ship filled with cannibal rats heads to the shore of the u. K. Details next. T at 06 35th street the old dining table at 25th and hoffman. And the little room above the strip mall f roble avenue. This magic momt it is the story o 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 worldeat stories. That began much the same w ours did. In a little dorm room 2713. This magic moment Stuart Charles will make us some money, catching up on two previous recommendations bringing us up to date on each trade. Charles e trade reported a great quarter. They even got an upgrade but stocks will waffle year. Stuart a great charge. Charles we had it on september 6th, we are up 28 . I would take profits on it. We always had that. Stuart i will introduce microcircuits applied micro circuits. Charles you messed it up a little bit. We are not going to sell it. We are holding. I didnt expect them to blow it away. This is the company i love for the long term but if you hold it, a downdraft fantastic. A lot of people gravitated to this, got a lot of emails and wes and wanted to update. Stuart are you selling or holding . You are holding, dont sell what you already bought. You hold it and do better in the future. Is that it . Charles it is against those of little bit. I think it is a hold. Stuart lets get to the story of the day. There is a ship infested with cannibal rats floating in the north atlantic. It is heading straight for britain. How did this happen . The canadian authorities let it loose. Didnt want to be bothered with it anymore. Former u. K. Defense advisor michael k. Joins us now. A bit more background here. This was virtually a scrap ship, it was towed towards canada. The cable broke, drifted out into the open sea, the owner says it is in the open sea and invested with rats that eating each other, i dont want to know about it and it is drifting towards your home country, britain. You are a former special forces guy. How would you deal with the ship infested with cannibal rats. I was delighted to get a phone call to come and discuss this with you this morning but racking my brains, a morning redeye segment clearly with all the more handsome host i might have. We should rewinding little bit. This is a russian ship, a russian cruise liner that was a russian cruise liner having a nice little jaunt around the canadian coast and getting great scenery, the cruise liner company went bankrupt leaving people stranded. The canadiens took a bit of sympathy, tucket in, for some bizarre reason, trying to look at this from a legal perspective, the canadian dimension actually led the chicago just flowed away. The law just titian inside of me says hank on, all sorts of shipping lines of communication across the atlantic. You cant just let a 100 ton cruise liner free into the atlantic and expect no ramifications of that. It is odd, the infestation of cannibalized rats. The charles the only thing and more are rats and all the got to weed is each other. Hopefully. Stuartt ghost ship crude by cannibal rats feared to be heading for britain. There are some cuts going on with the strategic defense review and the u. K. Military in a moment. I want to assure people the pied piper to and of the raw marines i do believe they are on standby as we speak to go out and like pirates mountains this thing and also have some marijuana to chill the rats out. Imported from colorado. Stuart you are a military guy, a sink in the open ocean . There are some scrap merchants looking at it. It is supposed to release 600,000 pounds, a Million Dollars. Some people charles let them deal with the rest of. No longer a problem under that and have some drinks. Stuart michael k. Thank you. It was crunchy enough. Not sure where this is going. An update on monday. We will be back with that. The super bowl week away, you can be sure gamblers are throwing big money for vegas, crazy, after the break, when resorts director, here he comes. Lou income inequality, the focus of the state of the Union Address. Steven haynes and katie pavlik on why the president seems to be campaigning against his own record tonight at 7 00 eastern. Please join us. Stuart we mentioned last our pope francis, what he said about the internet, it is a gift from god. Charles is with us and the starbucks chief said something that contradicts charles it wasnt 100 contradiction but it dovetails with the team of varney and company. Seismic shift, and retail industry. The stock was crashing and initially went up. Here is the thing, the internet is fantastic but until the entire segment of the economy begins Mortar Retail and what if it brings into account deflationary . And then a lot of heat spread through the internet as well. There is a counterargument. I agree with the pope. Stuart a gift from god and the starbucks guy says it will be the death of brand and mortar. Charles it also has a few curse is along with it as well. Stuart you can pick the seahawks and the broncos to win next sunday but did you know about the odd ball bats out there . Here is the head of the sports analyst lynn las vegas, he said the light. What is the line . The line on the game is 21 2. Opening in seattle one point favor, we are denver 21 2 and the total which is the of under point score is 371 2. Stuart does that mean a lot of money shifted from the seahawks and shifted to the broncos . Is that how it works . All the early money is on the Denver Broncos but remember probably 3 or 4 of the money taken so far but or early monday indicates broncos. Stuart with that early money if the seahawks win, do you lose . On the early money, if the seahawks win, i win. Can you bet on the weather because the weather will be a factor, what we think a week and a couple days in advance, he can you bet on it . You cant but i will give you a different number. 22. 7 at game time, you can bet over under that temperature and by the time game ends 17. 8 so you can bet over under on either one of these. Stuart does the weather factor into your calculations . Have got to set the line with the flow of money into the 80s, what affects the game. I havent paid attention to the weather since the turks and caicos on vacation. This weather to me is so important because it is inclement weather it will change anything i have done as far as proposition bets last night everything will have to be lowered, the weather is very severe. It is a clear night and ready for football and they stay where they are but i am watching this so closely on a daily basis. Stuart can i bet on whether Richard Sherman will get an interception . You can. You can bet that but you would have to lay 31 that it would not happen. If you think it would happen you would get somewhere in the vicinity of 21 2 to one. That bat is on the board. Stuart this jumped out at me. I can bet on the average jersey number on the players to score a touchdown. I can do that . That is correct. Take the Denver Broncos, mostly wide receivers, numbers in the 70s and 80s, and sweet to touchdowns by seattle and i am going to set it and you have to figure it out. Stuart thank you for joining us. Appreciate that. Stuart how is this forcible deal . The hotel in new york, 100,000 gets you can luxury suites, 20 game tickets, roundtrip transportation to the stadium and the airport. That is the deal. I think it is a great deal. 5 grand for a person. Charles so many swedes going for a Million Dollars, a pretty good deal. Stuart up next your take on the legalization of pot. [ chick caws ] [ male announcer ] when your favorite food starts a fight, fight back fast with tums. Eartburn relief that neutralizes acid on contact and goes to work in seconds. Tum, tum tum tum tums [ male announcer ] wt kind of energy is so abundant, it can help provovide the powr for all th natural gas. More than ever before, americas electricity is nerated by it. Exnmobil uses advance visualization and Drilling Technologies to produce natural gas. Powering o lives. While reducing emissions by to 60 . Energy lives here energy lives here sometimes they just drop in. Alwaysbvious. Cme group can help you navigate risks and capture opportunities. We enable you to reach Global Markets and drive forward with broader possibilities. Cme group how the world advances. Stuart it is time for your take on my prediction last hour on the legalization of weed. Leslie says they should make it like alcohol. Kathy agrees with me saying in the future it will become another highly regulated cash cow for the feds. We are out of time here. Dagen and the fbi sounding a warning to all retailers that more credit card breaches are on the way. Why the selloff . Look abroad. They spoke firing at princeton paper says the social media giant is facing a huge exodus. Live from doll close. Eric cantor on the world economy. All that and more coming up on this hour of markets now. Connell it is ugly out there today. Dagen on emerging markets. It still hurts here. You big freak. Stocks looking at their worst week in eight months. Nicole petallides is at the new york stock exchange. Nicole , 160 points here on wall street. A loss of about