Transcripts For FBC Varney Company 20140722

Apple will build 80 million iphone 6 before christmas. They have bigger screens, which are popular in china. And happy first birthday to Prince George. Varney company is about to begin. Stuart i promise we will bring you clarity on the major defeat for obamacare in just a few minutes, technical, legal thing but it is a bombshell for obamacare. Full clarity moments from now. Check the big board, up 67 points, 17,118. Crisis in ukraine, crisis in gaza, flooded with illegals . The market close to the record level, the patent is holding. Quick selloff on the news, a rebound perhaps new highs. S p 500 a Broader Market indicator nicely higher, 11 points up there. For the 10year treasury, the price of gold down this morning 1307. That is the market situation. The yield on the 10year treasury 2. 47 . Charles payne is here. Before we get to obamacare, give me 30 seconds on the market. They dont care about crises, do they . Charles they care about as much as you do. Did you change your plan . Did anybody alternate weekend plans . Existing home sales number with a pretty good number. The cpi number is bogus, it is disappointing the government tells us no inflation when we know there is. It came out relatively benign. Stuart what crisis . This one in seattle, this will be his ninth in the last threelp weeks, after that he flies to california, multiple fundraise fundraisers, down to beverly hills. Attempting five fundraisers in the west coast trip. Even liberals are saying they dont like this, so why is he doing this . The president cannot command the world stage. Numerous other countries dont respect him. Returning to the world of politics, nine events in three weeks say might as well campai campaign. That is what is going on right now. Stuart i think he is raising a ton of money because he wants to make sure the senate stays democrat want to make sure that happens. He wants to keep the senate, that is what we are seeing, that is his priority. Stuart i want to get back to individual stocks, a few big names you know and they are moving. Apple gearing up to make apple screens, make 80 million of them by christmas. Reporting the sales after the bell this afternoon up 11, half a percent in advance of that. Strong profits and a better outlook, higher menu prices help them make more money, sales surged 17 despite a 6 hike in menu prices. That is a new alltime high. Up 71, look at that. 660. Microsoft up, it has been moving slowly higher the past few wee weeks, up 0. 06, 44. 89. Mcdonalds profit down, sales sluggish, and they have been hit by questions of food safety in china. Off 1. 48. Big news on obamacare, fox news Shannon Green joins us with details on what is a very Important Court ruling. Welcome to the program. I know there is a lot of legal jargon on this, we all need clarity. Break down this decision for us, please. This is a tough blow for the administration, with respect to how obamacare works moving forward. The irs interpreted the law written by lawmakers. Interpreted the law to mean subsidies helping to cover the cost of insurance could be extended into 36 states which chose not to set up their own exchanges. Plaintiffs argued was the nation of the law. Subsidies will only for states to have the exchanges. Federal Appeals Court in d. C. Agreed with the plaintiffs. They say within constitutional limits, congress is supreme in matters of policy and the consequence of that supremacy is our duty when interpreting a statute is to ascertain the meetinmeaning of the words of tw duly enacted at the court work through that, looking at the history and looking at the language. Although the decision has major consequences, our role is quite limited simply deciding if the irs rule is a permissible reading of the Affordable Care act. They said it is not, they cannot be extended. They disagreed saying the plaintiff had only one goal, this case is about not so veiled attempt for the formal cataract. All three of these judges knew there was a thing of the impact from the decision, so now we wait to hear from the administration. Stuart i am terribly sorry, i am listening very carefully, what i am picking up is this, in those 36 states people who thought they would get a subsidy dont get the subsidy. 4. 7 Million People, they are not going to get the subsidies, is that accurate . That is accurate. This questions of what will happen in the very short term future. This has been sent back the lower court, they may say asking for an injunction, the government may ask for clarification saying can this be on hold while it is being sorted out. A lot of levels left for this case, where it may go and where it may end up. Stuart i am told the 4. 7 Million People are not subject to the individual mandate now, is that accurate . A lot of questions of how this will play out whether employers will have to comply with the mandate, whether individuals will have to comply with the mandate, so definitely scramble things up and shows you how a law, something of this magnitude, rushed through as quickly as it is, these kind of things are bound to happen. Stuart it is chaos, isnt it. Your withdrawing subsidies, thought we were going to get them and not going to get them, 36 states involved, that is absolute chaos. There is. Questions of the federal government will have to do some rearranging to make sure they get the policies they think they will get. Stuart what a situation, we thank you very much for explaining all of this. We are not legal types. Thank you very much, indeed. Thank you very much. Chaos with obamacare. You are going to harvard. Chaos. That is right, chaos did it effects 86 of those who signed up with the obamacare exchanges. We could see this all unravel. Stuart all right, you dont have to add anything. What a day for news, i tell you. Strong numbers from netflix, really strong numbers, they doubled their profits. So, nicole, why is the stock down . Give me 50 million. 50 Million Subscriber mark, that is huge for netflix. The expansion plans in europe are little bit more costly than anticipated, and that is eating into netflix profit. However, the big picture as they continue to add subscribers, continue to expand, we have noted emmy nominations one after another, house of cards, orange is the new black, but as you noted, it is cutting into their profits for these marketing expenses as well have been a Little Pricey and as a result to the downside. Over the oneyear mark 72 . I dont know one shareholder who would say that is fabulous, a good move. Harvard law, did not get to congratulate her, think it was last week, so way to go, we are so excited. I appreciate that. Stuart but she will join us by remote whenever possible. Are we ready for this breaking news at this point . We are just getting together a story that is breaking as we speak, hold on for a second. They made a ton of money, the stock is down, netflix is not so special. It isnt that special. The ceo except for the big club a few years ago when they split the streaming mail business, that was a bit of a stumble. It is a brilliantly run division. Stuart it is leading the streaming revolution. My job is to tell investors what is good and what isnt. Looking at it, it is a certainly successful business. But the future costs are piling up pretty quickly, that is what we saw today. Beating earnings, if you measure it on the basis of the 48 million paid subscribers they have, on the basis of the bottom line, it looks great, the 32nd time they have beaten analyst expectations since 2005, if i were a betting man i would make that bet every time. Stuart hold that thought for a second, Delta Air Lines stock on the screen. Delta has cancelled all flights to israel and definitely citing rockets near tel aviv airport. That news just in, delta stock up 1. 5 on that news. My apologies to you, spencer. That is important breaking news. Now then, are you telling me netflix over 400 per share is overvalued . That is what i am saying. He is a brilliant businessman, they have done a great job, i am not knocking him, they want to become the next hbo before hbo becomes the next netflix be at i dont know if you subscribe to hbo, but it cost about 15, double what you would pay for netflix. Hbo only gets half of that. The Cable Companies would like to carry the broadband into homes a third of which is chewed up in prime time viewing hours by netflix alone. They would like a bit of that income. With Net Neutrality they would like legal rulings to get a cut of that, some compensation for the broadband they are providi providing. The programming, orange is the new black, house of cards, huge hits. They are doing great. Hopefully they will be as successful as what they have had already. That costs a lot of money. They need to pay up for that, this is going to escalate rapidly in order to keep subscribers and gain new ones. Stuart so you are not surprise netflix stock is down 18 points, youre not surprised by a downside move . That is what i expected. Stuart thank you for sharing your expertise with us. Thank you. Stuart the left thinks it is a failure, kansas lowers taxes. They say you shouldnt do that. Stephen moore says hold on a second, those numbers are wrong. The dow is up 76 points, 20 points away from a record high. [ male announcer ] Identity Theft. Its one of the Fastest Growing crimes in america. In fact, theres a new victim of Identity Theft every. Three. Seconds. So you have to ask yourself, am i next . One weak password could be all it takes. Or trusting someone you shouldnt. Over 100 Million Consumers had their personal information stolen in recent retail store and Online Security breaches. You think simply checking last months credit score can stop identity thieves now . That alone just isnt enough. But lifelock offers the most comprehensive Identity Theft protection available. As soon as the patented lifelock identity alert system detects a threat, youll be notified by text, phone or email. Your response helps stop thieves before they do damage to your identity. Helping to keep you safe. With three powerful layers of protection. Detecting threats to your finances, credit, and good name 24 7. Alerting you to potential danger. And if anything is found, your resolution expert will help restore your identity. So you can get back to enjoying your life. Lifelock watches out for you in ways banks and Credit Card Companies alone just cant. Plus, its backed by a 1 million service guarantee. If your identity is ever compromised, lifelock will spend up to 1 million on experts to help restore it. Try lifelock membership risk free for 60 days with promo code easy. Thats 2 months of proactive protection to help keep your identity safe, risk free. Act now and get this multidevice charger. Charge all your devices at once to save you time. A 30 value, free call the number on your screen or go to lifelock. Com easy. Try the most comprehensive Identity Theft protection available risk free for 60 days plus get a 30 multidevice charger, free. Enrollment takes just minutes. Your protection starts immediately. Call the number on your screen or go to lifelock. Com easy. Stuart let me remind you the alltime record closing high for the dow is 17,138. We are about 15 points way, 14 points away from a record, that would be a closing high. Time for the gold report, down 7 lower. 1307. Oil going back up again. 104. 81. How about that, say goodbye to lower gas prices bid and kansas governor cut personal and Corporate Income tax rates to stimulate the economy, however revenue down almost 6 , and the left is having a field day with the core job growth. From washington, chief economist with the heritage people. Stephen, this is important. There is a battle between the states, antibusiness states versus low tax probusiness states, kansas falls in the latter category and not doing very well, you say why . Yo you are writing some ricen a situation. That is what my book is about with art laffer called the wealth of states, so many businesses are moving to the low tax, low regulation states mostly in the south and i am a little biased because i actually helped Governor Brown put it together with the taxwriting kansas for small businesses, it is a very good deal for small businesses. The left sees upon this, it is not working, a downgrade, only in place for six months, little early to declare this thing is a failure. Talking to the economic people, they say these tax cuts are bringing businesses and the state, they have had more Economic Development in the state this year than any in the region except oklahoma and they have a big oil boom going on. Stuart your prediction is given some time, a year for example, you will see job growth and Revenue Growth in the kansas economy, that is your protection. Yes. Wichita will never be beverly hills. A lot nicer places to live if you want to live in the mountains or the beaches then kansas. If you want to be in the midwest, kansas has a very strong Economic Development program. It is interesting nobody on the left talks about the neighboring states, my home state of illinois, which is a complete economic disaster, and they raise taxes two years ago, more bond rating instructions than any other state area did stuart i was going to ask you about jerry brown may be running for the democratic nomination. Deal with that really fast, will you . California is finally getting a recovery after four or five years of being in any credible slump. Now theres talk of jerry brown may be the democratic savior. A huge boom going on carrying the rest of the state. It would be interesting after all these years if the governor ran for president again, what is it . Stuart yes, it would. You have to talk about this appeals ruling, you offered subsidies, you cant get subsidies. It looks to be like a huge defeat for the financing of obamacare, and you say what . You hit the nail on the head for those millions of americans who thought they were going to be getting a subsidy to pay for their Health Insurance, they are not getting the subsidy, they cannot afford the care, lot of them will drop out of the program. We are back where we started. Stuart we covered a lot of ground and we appreciate you doing that. Up next, your reaction to my interview with a lawyer that just one method 23 in dollars lawsuit against tobacco. Dow up 24 and rising. Loud and clear, they said they will not get away with this, you have been killing people for a number years. Stuart a law that says tobacco is illegal. You dont need a law to do the right thing, morally to do the right thing. There should be a law that says dont target our children . Stuart that was just part of our debate yesterday. One of his clients win the 23 billion punitive damages, one of the biggest hits against the tobacco ever. Our viewers have a lot to say. I will start with ron who says this, i think the jury system in america is broken. This punitive award is exorbitant and should be overturned. People should be accountable for their actions. Darrell critical of my action says, stuart, you lost me on make a law to ban tobacco. This is america, had a right to be is my body with sugar, salt, nicotine, and alcohol. They are bad for a person, but if i want to abuse them, that is my business. I agree with you, darrell. When i said have a law to ban tobacco, i meant we should not be banning tobacco by lawsuit and by jury. If we collectively think tobacco is a killer, pass a law and ban it, that is what we should do with a vote, not the legal system. Thanks everybody for your comments. In the next hour, the lawyer you hate to love, he will give us his take on that lawsuit starting in the noon hour. Whole lot more from mark as we well. I have some good news for you, look at that little fellow be at Prince Georges birthday. Happy birthday, Prince George. It is your i will start with you, charles. Charles greatlooking kid, congratulations to everybody. My grandson was baptized on sunday and reminds me of it. Stuart i thought you are going to come out and say i hate the royals. Okay, harvard, what do you say . I much prefer Prince George to the american royalty, the kardashians. Stuart that is good, you can stay. Chaos, prorussian militants shooting down passenger planes, violence in gaza, and where is president obama in the midst of all of this chaos . Another fundraising blitz. Karl rove weighs in after the break. [ male announcer ] once, there was a man who found a magic seashell. It told him what was happening on the Trading Floor in real time. The shell brought him great fame. But then, one day, he noticed that everybody could have a magic seashell. [ indistinct talking ] [ male announcer ] right there in their Trading Platform. So the magic shell went back to being a. Shell. Get live squawks right in your Trading Platform with thinkorswim from td ameritrade. Get live squawks right in your Trading Platform really. So our business can be on at ts network for 175 dollars a month . Yup. All five of you for 175. Our clients need a lot of attention. Theres unlimited talk and text. Were working deals all day. You get 10 gigabytes of data to share. What about expansion potential . Add a line anytime for 15 bucks a month. Low dues. Great terms. Lets close. Introducing at t mobile share value plans. With our bestever pricing for business. 58 seconds on the clock, what am i thinking about . Foreign markets. Asian debt that recognizes the shift in the global economy. You know, the kind that capitalizes on diversity across the credit spectrum and gets exposure to frontier and emerging markets. If you convert 4quarter p e of the s p 500, its yield is doing a lot better. If youve had to become your own investment expert, maybe its time for bny mellon, a different kind of wealth manager. And black swans are unpredictable. Speak to New York Knicks allstar and fellow anthony is creating a fund to invest. Charles. I think it is a terrific move. Charles i think that it is brilliant. New york is the second best place to be. Stuart okay. He gets my vote. I am passing judgment on basketball. Crisis in russia. Crisis in gaza. What is president obama doing . Karl rove, he is here. Why is the president doing this when so many people on the left disapprove of what he is doing . This is habit. He has had over 400 fundraisers. He will be attending five. No president has conducted as many fundraisers those far in their term, and their two terms as this man has. Stuart democrats are not short of terms i dread funds, are they . I would put it even more fundamental. She is going to delaware. He does not know that the plane will be shot down. A photo op with a young single mom. He had to know that the israelis have gotten together. I think that this administration, they love raising money. They do it way too much. We saw it in taxes. They cannot find the time to come to the border. Also, sales by sending a very popular message. He could have delivered the message on the border. Stuart i think that you are being very gentle, carl. Look, i have tried to be restrained. You know, i know how tough that was. The most valuable thing a president has is time. Stuart i have to get to this obamacare ruling. It is my understanding that 4. 7 Million People will not get those subsidies. That looks to be to be another very serious hit on obamacare. The number may be slightly smaller. The majority of the people in the country live in a state that does not get subsidy coverage. Not all 8 million do. A twoone decision. The statue means what the statue says. There is no way to legislatively resolve this. Stuart josh earnest has just gone into the White House Press room and says that the subsidies will keep flowing. It would seem to me that this is chaos and confusion all over again. Russia, gaza, all the rest. Now it is right back on the front burner. Lets picked careful. We do not know how the subsidies will flow. Will people have to refund the subsidies that they received until the Supreme Court finally gives the ultimate judgment on this . If i were sitting out there with the obamacare policy, i would not be very confident. Stuart i was listening to your comments earlier this morning. You think a break is coming in the near future. As we get closer to the election, people say we have to make a decision. Do i want to send a message to the president that he is doing good or do i want to send a message to the president that he is doing bad. What will happen is a lot of the senate seats that are up this year are in red states. In those red states, the president is further underwater. He is nationally. As long as we have good candidates, the republicans will take the steps necessary to control the senate. Stuart let me show you that the board again. We are up 61 points. The alltime record for the dow is 17,138. One of the iphones apps may just be what apple needs to make its room and i watch a musthave for businesses. We will talk to the developer of that app. We have him on the show after the break. Thank ythank you for defendiyour sacrifice. And thank you for your bravery. Thank you colonel. Thank you daddy. Military families are uniquely thankful for many things, the legacy of usaa Auto Insurance can be one of them. If youre a current or former military member or their family, get an Auto Insurance quote and see why 92 of our members plan to stay for life. News on the Housing Market this morning. Existing housing sales came as a rise of 2. 6 . The highest reading since last over. The Labor Department said u. S. Consumer prices rose in june. Gasoline accounted for two thirds of that game. Lets head out west now. A huge wildfire covering 379 square miles in washington state. The fire is only 2 contained after this morning. The wildfire has already burned 150 homes. Google may be recycling payphones. Remember those . What are they going to use them for . We will tell you that next. Youve reached the age where youve learned a thing or two. This is the age of knowing what youre made of. So why let erectile dysfunction get in your way . Talk to your doctor about viagra. 20 million men already have. Ask your doctor if your heart is healthy enough for sex. Do not take viagra if you take nitrates for chest pain. It may cause an unsafe drop in blood pressure. Side effects include headache, flushing, upset stomach, and abnormal vision. To avoid longterm injury, seek immediate medical help for an erection lasting more than four hours. Stop taking viagra and call your doctor right away if you experience a sudden decrease or loss in vision or hearing. This is the age of taking action. Viagra. Talk to you doctor. Stuart group will meet you some hightech recycling in new york city. Remember payphones, there are at least 7000 of them in the city. Now what google and samsung and verizon and some other test giants are doing is bidding war thinking of ways to make those payphones wifi hotspots. Extending 85 feet in every direction of that payphone. In new york city, there are only 20 public wifi spots right now. Stuart i like the idea. I will go for that. Not bad. We will take that. Lets move on to schiphol. What have they done that is so good . Nicole schiphol day. It is just rocking. It continues to do great. They solve their traffic in the stores jumped 26 in quarterly profits. They did not even mind that they had a little menu increase in prices. They continue to do well. So many of the analysts upping their targets. Including Raymond James putting 725 price target. Stuart it sounds like a bidding war to me. Nicole it feels crazy. I like the idea when i first read it. Stuart are we done . Nicole i thought it was important. Stuart take a look at this app. It is called hours. A lawyer that can do billable hours very easily. Jeremy olson created this app. Welcome to the program. Let me make sure that ive got it. Ive got an iphone here. You give me that powers after and then when i do something, i tap on that app and it tracks how long it takes me to do that app. Do you have more . [laughter] it is a huge problem for businesses. It seems like a simple problem. Sometimes we make mistakes and we do not know about those mistakes. Stuart if i am a lawyer, do i have to tap the app and start it so i know how long i spent with the lawyer or does the app do it for me . Know that i am engaged with a client for some reason . That i watch will be a game changer. They have it on their wrists all the time. They can just switch timers really quickly. Stuart i am told that 4. 99 for an app is pretty pricey. It is pricey. We are a little bit worried about that. Five dollars for something that will save them potentially thousands of dollars because it will help them track their time efficiently. It is what the market says. The first, it was this is a nightmare for emplo say to that . Our goal was to help employees. The Current System that they are forced to use right now tend to be very bloated. We have focused on the human problems. Wanting to make contracting a little fun. People say i am tracking my time that even for business. This is fun to use. We find that people are really enjoying this. Stuart can you tell how many apps you have downloaded . I cannot tell you that. I can tell you that at one point it was selling more than angry birds. Stuart you are the first person, i asked this question to everybody. They say, oh, no, no, no. I am doing this because i want to help humanity. Thank you for being the first honest guy. The new 4. 99 app. Time tracking. Good stuff. Thank you very much, indeed. President president obama may be buying this multibillion dollar california mansion. Cheryl casone has the details on that in california after the break. She inspires you. No question about that. But your erectile dysfunction that could be a question of blood flow. Cialis tadalafil for daily use helps you be Ready Anytime the moments right. You can be more confident in your ability to be ready. And the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. Tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. Do not take cialis if you take nitrates for chest pain, as it may cause an unsafe drop in blood pressure. Do not drink alcohol in excess. Side effects may include headache, upset stomach, delayed backache or muscle ache. To avoid long term injury, get medical help right away for an erection lasting more than four hours. If you have any sudden decrease or loss in hearing or vision, or any allergic reactions like rash, hives, swelling of the lips, tongue or throat, or difficulty breathing or swallowing, stop taking cialis and get medical help right away. Ask your doctor about cialis for daily use and a free 30tablet trial. Stuart all right, charles. Make us some money. Charles talking about cloud all the time. These guys have an amazing amount of performance. All the stuff. Ultimately, what it does help you manage is payroll benefits. All the things that corporate plot as a return investment. 121 million in the most recent quarter. More importantly, they got 96 of all of their customers. I love the guidance for the full year. This company is doing extremely well. Takes it quickly to 143. 170. Stuart what is this space . Now this. President obama interested in buying a mansion in california. Cheryl casone is here with more. It is not a rumor that they are in escrow right now. They were there two weeks ago. He had been there to play golf privately. Look, joe for joe ford lived there. A big golfing community. It kind of makes sense that the president would want to be there. The home is only 5 million. Maybe he got a good deal. I have no idea. The home itself was built back in 93 for entertaining. That would make sense if you were the president and you were retired. Stuart you would buy a government building. [laughter] no. Are you kidding me . It would fall apart. It is a mansion. It would make sense that they would die somewhere warm. As long as the president does not leave dead broke from the office. Stuart thank you, cheryl. Thank you all. A huge blow to obamacare. Fox News National correspondent tells us in on what it is all about. The man you hate to love. He joined the company. Two minutes away. [ male announcer ] if you cant stand the heat, get off the test track. Get the mercedesbenz youve been burning for at the summer event, going on now at your authorized mercedesbenz dealer. But hurry, offers end july 31st. Share your summer moments in your mercedesbenz with us. Were changing the way we do business, with startup ny. Weve created tax free zones throughout the state. And startup ny companies will be investing hundreds of millions of dollars in jobs and infrastructure. Thanks to startup ny, businesses can operate tax free for 10 years. No property tax. No business tax. And no sales tax. Which means more growth for your business, and more jobs. Its not just business as usual. See how new york can help your business grow, at startup. Ny. Gov when folks think about wthey think salmon and energy. But the energy bp produces up here creates Something Else as well jobs all over america. Engineering and innovation jobs. Advanced Safety Systems technology. Shipping and manufacturing. Across the United States, bp supports more than a quarter million jobs. When we set up operation in one part of the country, people in other parts go to work. Thats not a coincidence. Its one more part of our commitment to america. Stuart huge story and it is just breaking. We will bring you clarity moments from now. It is a major deceit for the president. Why is the stock market so strong while the world is burning . Money has no morality. It does not affect the president. He is about to leave d. C. With no less than five fundraisers. Stuart a look at the iphone six new screen. They are making a deep millions of them before christmas. Just look at the old leaders charge. Intel and microsoft straight up. The president leaves for five west coast fundraisers. I say he does not care what you think about that. Welcome to the second hour. I want to get more on that breaking story. We have fox news chief national correspondent. As you suggested earlier, the u. S. Court of appeals in washington said today that the irs with too far after it passed congress. You have seen this many many times before. We are going to issue a ruling that broadens the impact of the statue. You can only offer subsidies, established by the states. The irs says do not worry. You can do that if you are in a federal exchange or a state exchange. Anyone who receives that subsidy in those states, if their insurance without the subsidy is too expensive, they are no longer covered by that individual mandate. That means you have at least four, 5 million. Some say as many as 8 million that will not be covered. In those federal exchanges, you will have sweeping changes in how things are administered. Stuart thank you very much, jim. It was a twoone decision. I just want to quote very briefly. The one person who voted against this, he says that there will be disastrous consequences from this decision. You are right all the way down the line there, jim. The two judges that decided the case said, look, you can argue all sorts of things. The plain language of the statute is clear. They said, look. We can look for all kinds of things. At some point, you have to rely on the plane language of the statute and that is what they did. Stuart you have to pass this before you can find out what is in it. Nine out of 10 people get credit. This is what happens when you run a bill through without going through the normal Conference Committee to clean up a language. If you dont have the credit, you cannot buy the coverage. It will go into a death spiral. It says this guts obamacare. I think that added to what you already quoted. It shows you the power of this ruling. Can congress go back and rewrite the law . He says that there is no way you can overturn this decision. Right. Not this congress. The obamacare people are saying this subsidies are continuing. This affects 36 states. They will have to do some pretty ingenious tapering. Stuart United Continental are saying they are suspending operations to and from tel aviv. Delta made the announcement hours ago. Show me the big board, please. Crisis. What crisis . Russia. Ukraine. The border. Who cares. We are 13 points away from the record. All right. Something a little different for you. An example of every homeowners nightmare. A woman rents out her condo on your b b for about a month. When the time is up, she comes back to the property to find out the person room and refuses to leave the property. What state is this. Is one of the issues. 30 days, he is considered a tenant. I am the one that will figure out a way around the law. This is not about the law. Stuart an example of where the sharing economy has some legal twists. What kind of a Business Model is it that you have to call the cops . Having to pay a lawyer to get this squatter out. The law is what the law is. We are just there to try and help get through the law. Stuart you are here to try and take the blame. Stuart how much would you charge to get this guy out . She will probably spend every dime that she makes from the guide. Stuart do not let linear drone on. [laughter] stuart check the markets. I want to get back to this. We are close to a record high. We have the s p 500. Lets go to the markets for a moment. 1985. Despite russia, ukraine, gaza, you name it. Individual stocks. Netflix, for example. The stock is down 5 . We will have more on this later. Very strong profits. Look at it go. It puts many prices up 6 . It is up 75. You eat chipotle, dont you. All the time. The lines seem longer at my local chipolte. Stuart it is terrific. That big blow for obamacare. Is that good news for Health Insurance . Yes. Yes. All time highs. These stocks have gotten a nice pop today. We are seeing several of the names. Hitting alltime highs. It is a big deal for these stocks. Stuart i am not quite sure how to get the financial flow. Lower income people are at a Higher Health risk. If you are taking them out of the insurance pool, they are writing insurance only on risks. Stuart moving onto apple, please. The wall street journal reports that two new Iphone Models are on the way. Both with larger screens. It is asking suppliers to manufacture 17, maybe 80 million of these new iphones by the end of the year. This bigger screen, it is a much bigger screen. Is that a game changer . A real shift for apple and the iphone series . This bigger phone is nothing new for the market. Many versions of android phones that have been in the market and have been favored. We have actually brought one. This is the lg flex. It is 6 inches. They are out there right now. Stuart apple is doing it because those bigger screens are very popular in china. Absolutely. Apple sees china at the point of being a huge growth. The luxury. The premiums. It is really heating up. They are looking good in china. Stuart you cannot call that a phone. You will not put that up to your year. Apple is going to be entering that market. Stuart thank you very much. Getting there. Smart phone and tablet use may be on the rise. The pcs test days maybe just ahead of us. More after the break. Really. So our business can be on at ts network for 175 dollars a month . Yup. All five of you for 175. Our clients need a lot of attention. Theres unlimited talk and text. Were working deals all day. You get 10 gigabytes of data to share. What about expansion potential . Add a line anytime for 15 bucks a month. Low dues. Great terms. Lets close. Introducing at t mobile share value plans. With our bestever pricing for business. Stuart a new survey reveals 39 of those people age 13 to 29 choose cash as their preferred way to hold money. Does that mean that they do not invest in anything . Millennials are a little bit nervous about the stock market. 39 for the long term would rather hold cash. Three times more than that 13 . Here is the problem. How will you do that if you are not following the gains of the stock market. The great a little bit concerned about these numbers. You cannot blame them. Millennials trying to get jobs. Stuart they need to be liquid. Ive got that. In my opinion, not a good idea. Thank you. I have a story for you about tobacco. 23 billion. The death of her husband. He was a smoker. That ruling will not stand. O heavens no. The courts are set up to take care of these verdicts like that. Those would be incredibly cut back. Stuart i thought the Tobacco Company had paid out 145 billion. They are still facing this kind of liability lawsuit . This is an individual that died of lung cancer. One of these people addicted early as a child. Stuart the lawyer for the plaintiff was on the show yesterday. The young man did not know the dangers of smoking when he started smoking. Exactly. Stuart nobody in america today. Everybody knows that tobacco is bad for you. What other product would even get approved today . Specifically getting laws to exempt them from lawsuits. Stuart okay. Big names that you know. Apple and microsoft. I own some microsoft stock. Both stocks are up. We talk about the death of the pc. Improving economic conditions. It shows that we are far from a zombie like state. The cofounder and ceo of old spice works. Welcome to the program. We have been talking for a long time about the demise of the pc. Why do you think that they will start going up . Thank you for having me, stuart. Two big trends that we see are the numbers that we have seen over the past two years. It is things like the macbook air or the Microsoft Surface pro. Stuart i am if you have a doubling sale of macbook pro, what will that do with the pc market . It has been both the standard desktop pc. It is different from the tablets where we are swiping and looking. It is people doing work at their home. The locals are replacing the traditional pcs. If you look at the numbers, you are still predicting a decline in those. It may actually turn around as we head into 2015 and 2016. Stuart you have yourself a very nice looking pc. Absolutely. It is one thing to think of the consumer environment. What is driving a huge change there is microsoft end of life in the operating system. That has raised a bunch of concerns with companies that are still running that on the pcs. About 30 still have that os. We see a transition towards that. It really represents a shift of hundreds of millions of units. Stuart i am terribly sorry to cut this short. We appreciate it, sir. You are looking like you have something to add. I am wondering when microsoft will really get caught up to apple. Stuart United Continental did that earlier. Those two stocks went up on the news. They just did the same thing. The world is clearly in chaos. My take on that is next. You used to sleep like a champ then boom. What happened . Life happened. Stress. Fun. Bad habits. Kids. Kids. Kids. Now what . Not milk. Not sheep. Not that. Lets think smarter. Lets get some science in here. Lets build a bed. Another bed . No, a smarter bed a entirely new sleep number bed that tracks your movement, your heartbeat, your breathing sensors working directly with the dual air chambers yeah you need the air chambers. Introducing the sleep number bed now with sleepiq technology. It tracks your sleep patterns and tells you how to adjust for. A good nights sleep, a better night, and an awesome night. So what sleep number adjustments make the difference . Try cranking it up . Adjust it down . A little bubbly . Or nix the late night flicks . Wait, youll know what works, cuz sleepiq™ technology tells you. And all you have to do is sleep. Which is easy. Only at a sleep number store, mattresses with sleepiq start at just 999. 98 because everyone deserves a great nights sleep. Know better sleep with sleep number. Stuart president obama is clearly the fundraiser in chief, he is taken a lot of criticism for especially when he is passing around the hot in the below the crisis. He shows no sign of letting up. So, what is keep doing it . Heres my take, two reasons. First i dont think he cares what people think. Hes not concerned with the reaction. Last week with news of the horrendous plane shootdown hit mr. Obama pause for 38 seconds before flying to new york to charge 32000 a plate at two fundraisers. Even liberals were taken aback at the optics of the situation. He didnt care. In fact, he just left. He just left today for a west coast trip where he will pass the hat half by more times. We are told by people who know him that he is distant and aloof. He borders on arrogance and that is what we are seen with the fundraisers. He doesnt care. Hes got bigger fish to fry. Which brings us to the second reason. He wants the money, he needs the money. He is raising tons of it because he will be use it to hold onto democratcontrolled in the senate. The president knows his party is in trouble and he knows if the senate goes republican this november his legacy is in serious trouble. Investigations into the scandal will be expanded. Part of his signature legislation could be dismantled and he doesnt want that. So he wants to liberal base. Crises be damned. Mr. Obama has intended the number of events compared to george push at the same point in his presidency. If anything, the fundraising if anything, the fundraising pace will speed up. When the world moves, we are about four months im crucial elections. The president wants the money and he will do whatever it takes to get it. Once you think about it takes a backseat. And trade wiy to testdrive the market. All on thinkorswim from td ameritrade. Were changing the way we do business, with startup ny. Weve created tax free zones throughout the state. And startup ny companies will be investing hundreds of millions of dollars in jobs and infrastructure. Thanks to startup ny, businesses can operate tax free for 10 years. No property tax. No business tax. And no sales tax. Which means more growth for your business, and more jobs. Its not just business as usual. See how new york can help your business grow, at startup. Ny. Gov the back to School Shopping is the biggest shopping season after christmas, its about 27 billion in net me families out there are going to be spending 670 to send junior to school. Walmart knows that and they are struggling. What theyre saying is we want the shoppers to keep coming in, so lets start now and lets keep the deals steady throughout the season. Theres 10 more items they are selling versus last year and if you look at their website, which summary parents love, they are selling 75000 back to school items starting the price cuts and now, we have to see how the other retailers respond because 670 per family is a nice chunk of change. Stuart yes, it is. It is six weeks before back to school. Thank you. Secretary of state john kerry meeting in egypt. Hes looking to arrange a ceasefire. Meanwhile, heres the latest on action. The Israeli Army Confirms one of its soldiers is still missing after a deadly battle earlier this week. A total of 566 palestinians, 27 israelis killed since the fighting began in july 8. We are joined now by a former chief of staff for israels prime and mr. Sir, im not afraid to express opinion on this program and i will especially now. I think secretary state john kerry is on a mission to save hamas, a ceasefire with fact protect and save hamas. What you say . Well, i want to be afraid share my opinion as well. I know your feelings about how vacuous and incompetence or the financial fiscal policies of this in ministration are. They are equally back it was because of foreignpolicy. We were in the same position two years ago when barack obama and Hillary Clinton Muslim Brotherhood for the president of egypt and negotiated a ceasefire between hamas and israel. A ceasefire that Hillary Clinton back then that would bring security to the people of israel. All of that was two years of giving hamas hundreds of millions of dollars not to put the lives of their citizens, rather to build these titles of terror and be the position to train an enormous amount of terror on the citizens of israel. Not his the policy only backless, but they are making the same mistake twice. Stuart is israels position that this doesnt stop until hamas ability to launch rockets and israel has ended once and for all . Absolutely. A ceasefire for the sake of ceasefire doesnt help the situation. What comes out of the ceasefire . If what comes out is a situation whereby hamas no longer has the ability to arm themselves or rain terror upon the Israeli Citizens and no longer the ability to bring terror to their own citizens and i think a ceasefire is warranted, but sure that it doesnt make sense neither for the palestinian or the israeli people. Stuart i will ask with another opinion. It is my opinion the reaction on part of governments towards israel is doing has been much wilder and softer this time to read the reaction on the street have been very harsh with them and stations all around the world, but governments have not been so anti israel as they were in the past couple of years. Would you make that judgment . Absolutely. Part of the reason for that, stuart, is the fact israel took upon itself to put three ceasefires in place in the past two and half weeks. Every one of them was answered by hamas with more missiles and i think the world the season. Not only that, the world has funded hamas to a large degree for many years, both european and the un and even the United States taxpayers. John kerry said yesterday another 47 million of us taxpayer dollars to go to humanitarian purposes in gaza. Lets be frank, who controls the gaza its the hamas terrorist system. We are basically given 47 million of funds to terrace and i think the world leader in governments understand that hamas is not been a siegel thing with the money they happen given to improve the lives of the citizens. They are taking that money and build tunnels of terror and rearmed themselves to murder israeli women and children. Stuart americas federal Aviation Administration has just banned American Airlines flying over israel for the next 24 hours. Your comment on that. In fact stuart look, im sorry to interrupt, but im going to pick about what you decide. You are sorry it wasnt imposed 24 hours ago two stop john kerry. That applies a very hostile sort of attitude on the part of israel towards john kerry and barack obama, doesnt . I was speaking personally, not on the this is really government. Israelis want to live in peace there is no doubt about that. Any efforts to try to find peace are certainly desired by the state of israel. Golda meier said it very well that we will have two piece when arabs learn to love their children as much as the jews had learned to love theirs. We want peace. We dont want to send our youngest, braves arthritis into battle only to have them come back and confidence. We want more peace for ourselves and palestinian people. With the regard of the restriction does not have sophisticated target guided missiles. They have these Cruise Service to surface missiles with no guidance, so i think the thread to airline is minimal if not zero and i believe israel will be the first to come out and put out a warning if there truly was a threat to the airline industry. Stuart what im getting out of this interview is this, its not going to be over anytime soon. Stuart george, im out of time and we appreciate you being with us today. Thank you. Thank you, stuart. Stuart comment . Jewish carpenter 2000 years ago that said this piece makers will be called sons of god. The problem is you cant simply make peace with some entities and peacemaking at any costs we know from chamberlain in world war ii and not appeasement doesnt work, so longterm peace is a difficult process. Stuart inc. You. And major blow to obamacare we have been reporting on someone. A court of appeal is really knocking a huge hole in the law. We will break it down after the break. Youve reached the age where you know how things work. This is the age of knowing what needs to be done. So why let erectile dysfunction get in your way . Talk to your doctor about viagra. 20 million men already have. Ask your doctor if your heart is healthy enough for sex. Do not take viagra if you take nitrates for chest pain; it may cause an unsafe drop in blood pressure. Side effects include headache, flushing, upset stomach, and abnormal vision. To avoid long term injury, seek immediate medical help for an erection lasting more than four hours. Stop taking viagra and call your doctor right away if you experience a sudden decrease or loss in vision or hearing. This is the age of taking action. Viagra. Talk to you doctor. Virtually all your important legal matters in just minutes. Now its quicker and easier for you to start your business, protect your family, and launch your dreams. At legalzoom. Com we put the law on your side. Google really is everywhere now it may take over a new york city pay phone and turn them into wifi hotspots. Other copies are interested in getting an innate include brighton, samsung and ibm. New york city has about 7000 payphones with around 4000 of them with advertise on the side. They would share revenue from those eyes with the city, thats a potential 70 million in income. We will show you google shares up one and a half percent. The latest news from israel, the deaths a a has suspended all us flights into tel aviv. This comes after Us Airways Delta and United Continental have suspended their flights into and out of the area. Rocket strikes nearby from Palestinian Militants calling the suspension, but is really aligned Officials Say they are clear for landings and takeoffs. We are hitting [ male announcer ] if you cant stand the heat, get off the test track. Get the mercedesbenz youve been burning for at the summer event, going on now at your authorized mercedesbenz dealer. But hurry, offers end july 31st. Share your summer moments in your mercedesbenz with us. You are gonna need a wingman. And my cash back keeps the party going. But my Airline Miles take it worldwide. [ male announcer ] it shouldnt be this hard. With creditcards. Com, its easy to search hundreds of cards and apply online. Creditcards. Com. Marco. Stuart it is time for the real Halftime Report with nichole petallides at the new york stock exchange. Michael robinson in tampa cisco, Elizabeth Mcdonald in the art. Mr. Robinson first, despite the crisis overseas we are near record highs for the dow , it looks like this market wants to go up. I think there is an audio problem. I dont think he can hear. Michael, are you there . I can hear you, can you hear me . Stuart looks like the market wants to go up. Your comment. We have a lot of great economic factors going on. Five straight month of 200,000 plus get a job gains. With 13 straight months of manufacturing going up. Weve got car sales running at 16. 3 million and i call this the stealth tech rally because tech is leading the market now. The nasdaq is outperforming the s p and the tao and earnings among Tech Companies are going to lead the market for the second quarter, so this is a good market to be an especially for tech. Stuart you are badly lit at the moment, michael. We will get that light bulb fixed any now. Next up i went to show you a big winner and when i say big winner talking big winner. That is a huge game, why . Its unbelievable. 13 alltime record highs. The stock was more hundred dollars a year ago or so. All the analysts are jumped on board. They are seen traffic in their stores jumping while other Restaurant Companies cant seem to get people in and despite the fact they have had menu price increases people are still running in there. Their market value is twice the size of burger king worldwide. They serve and about a cree meats organic produce and it has a great reputation. People are loving it. Stuart thats so benign. Linear, have you ever sued them . Heavens no, i. E. Their three times a week. Stuart would you ever see them . Liz for what . Acid reflux . Stuart the stock is up 76. You cant say that. Mr. Robinson, back to you. Apple playing catch up with a much much bigger literally physically bigger iphone. It seems to me they are actually following, not leading. What you say . Well, i agree in the sense they are following in terms of screen size, but they are coming out with this new iphone in september that will have a lot of features that will put it ahead of samsung. I think its a smart move because their polls show Consumers Want to have the choice of a bigger screen size, so they are taking the fight directly to samsung and as we talk to the past apples margin on the iphone are off the charts especially compared with samsung, so this is a savvy move. You have to to consumers what they want. Stuart that stock is going straight up. You still think that . Yes, straight up i dont know about straight up. Yes, for the longterm im an apple and would continue to acquire more apple. Stuart market, have you ever sued apple . Absolutely, sure. Stuart are you some kind of communists . I love apple. , apple guy, but yeah, yeah with some of the patents you have to sue them. Stuart mike, back to you. Microsoft, i own the stock, please or member. Are you buying it . I am buying it at the longterm foundation a play and would make a smaller portion of the portfolio. Id bill more comfortable, i would like to see the numbers later today. I think the new ceo is doing a good job. Layoffs will be painful, but the right thing. I think he can get the gnocchi a platform and the market do well with it. Theres a lot of potential there with the no caps platform. The pc refresh cycle is starting to go back in earnest. At least pc sales have stabilized and thats good for microsoft and its ecosystem. Stuart mark lanier, have you ever sued microsoft . I was going to and then i read beverage you own it so i yes, i have sued microsoft. Stuart but for . Same thing, patents. They also you each others patents. Stuart next up existing home sales strong. Liz, the housing recovery beginning to get back steam . Liz yes, the housing is basically on track and its healing, up 2. 6 for the month of june. Median prices also not the levels we are seen since october 2007. This is good news. This means the Federal Reserve may move back more quickly out of its stimulus into the market. So mark lanier does after to the Federal Reserve. Stuart the federal court has struck a huge bowl low to obamacare. Break it down, please. When obamacare was written it was assumed every state would offer on exchange or a state run insurance for the underinsured. The problem is 36 states did not do it, so the federal government offered the exchange and the federal government offered subsidies so these underprivileged people could have access to Health Insurance. Its been gutted. That the federal court of appeals said absolutely no, its against the law. It was one of those hidden things of the bill. Not well thought out and it has stripped those subsidies between five and 8 Million People, guiding obamacare. Liz the question is whether or not congress can go back and write a law that says they can get those tax credits and those individuals can continue to get that. Stuart seems highly unlikely to me. Liz is a possibility and listen this is what happens when you ram a law like this through the going to the proper procedures. When which that this to happen. You have a house that wants to repeal it. They wont rewrite it. Stuart indeed. Thank you, everyone. Great halftime repor im only in my 60s. Ive got a nice long life ahead. Big plans. So when i found out medicare doesnt pay all my medical expenses, i looked at my options. Then i got a Medicare Supplement insurance plan. [ male announcer ] if youre eligible for medicare, you may know it only covers about 80 of your part b medical expenses. The rest is up to you. Call now and find out about an aarp Medicare Supplement insurance plan, insured by unitedhealthcare insurance company. Like all standardized Medicare Supplement insurance plans, it helps pick up some of what medicare doesnt pay. And could save you in outofpocket medical costs. To me, relationships matter. Ive been with my doctor for 12 years. Now i know ill be able to stick with him. [ male announcer ] with these types of plans, youll be able to visit any doctor or hospital that accepts medicare patients. Plus, there are no networks, and virtually no referrals needed. So dont wait. Call now and request this free decision guide to help you better understand medicare. And which aarp Medicare Supplement plan might be best for you. Theres a wide range to choose from. We love to travel and theres so much more to see. So we found a plan that can travel with us. Anywhere in the country. [ male announcer ] join the millions of people who have already enrolled in the only Medicare Supplement insurance plans endorsed by aarp, an Organization Serving the needs of people 50 and over for generations. Remember, all Medicare Supplement insurance plans help cover what medicare doesnt pay. And could save you in outofpocket medical costs. Call now to request your free decision guide. And learn more about the kinds of plans that will be here for you now and down the road. I have a lifetime of experience. So i know how important that is. Stuart tq perry has announcedc he is deploying upqn to a thousand National Guard troops over the next monthn2n co to the tes tax ago border. Mark lanier lives in texas, practicesfa3w in texas. What you think it is moved withnf there are three concerns, number one with be compassionate people and wef5tr borders. Number threer deep in this. Politics is the bubble to side,fa so you havebmovernorw3 perry he wants to rate a run for the white house and he still compassio. He said the tr apd troops in, but the troops have no authority. They cant arrest, theyco can do anything at all. We have now the ;h o in those counties that and said spending a Million Dollars on thei] if youre making money to take your family you have m5eaj jfz is a pay gap weather that nickel or whateveso you think it is depending it is still there andi] its out there. Stuart will you as a woman make the basic judgment thatni women are as interested in politics as men . Qxd liz yes. Stuart there just is q but that on the money to give . Liz yes. T conr stuart your take on this entire program is next. nrnrqqqfd. Dont settle for anything less. Ill keep asking. Whats in your wallet . Ill keep asking. Really. So our business can be on at ts network for 175 dollars a month . Yup. All fe of you f 175. Our clnts need a lot attention theres unlimited talk and text. Were working deals all day. You get 10 gigabytes of data to share. What about expansion potential . Add a line anytime for 15 bucks a month. Low dues. Great terms. Lets close. Introducing at t mobile share value plans. With our bestever pricing for business. Same position two years ago where barack obama and Hillary Clinton backed Muslim Brotherhood for present egypt and negotiated a ceasefire between hamas and israel. A ceasefire that Hillary Clinton back then said would bring security to the people of israel. All about was two years of giving hamas hundred of millions of dollars not to improve the lives of their citizens, but rather to build these tunnels of terror and rearm themselves and been a position to rain and a norm is about a terror on the citizens. Not only is the policy vacuous, but they are making the same mistake twice. Stuart that was part of the situation in israel. Now heres your take about the rest of the show. I will start with been we are talking about a bigger iphone screen. He says no, i dont want one. I have an iphone five become because the screen was smaller. If i wanted to carry around a tv set i would. Since you had this to say about the presence fundraising schedule. She says i have no problem with this, the more time he is fundraising, golfing and on vacation means the less time he has to do further damage to our country. There you have it. Im out of time, but cheryl and out of our next. We just discussed on your show the president does like to play golf extensively, stuart. Hello, im out of shapiro. Hello deidra is off today. Its called a travesty and a travesty during a presentation in which he wrote down he promised to deliver a death blow, but investors arent crying are buying herbalife shares are rallying. Critics accuse big bang banks of money to small business, but j. P. Morgan chase is putting 30 million to work to jump start entrepreneurs. They have been around less than a decade, but smartphones and tablets will attract billions more add dollars this year. Sounds good, right