Economy, fancy way of saying taper, later this year. He warns the economy still needs accommodative monetary policy. David meanwhile General Motors says it will be buying back just under half the gm preferred shares held by united autor Workers Health care trust. Gm is paying just over 3 billion for those shares. Liz walmart plans to hire 55,000 temporary workers at u. S. Stores during the holiday season. That is an increase of about 10 over last year. David microsoft unveiled a faster more powerful version of the surface tablet in an attempt to boost sales and try to win market share from apples ipad. Liz Manufacturing Activity grew slowly in september. David market. Liz says the demand for products declined. Firms took on fewer workers. David in the market. Private Space Company orbit tall sciences further delayed a docking after cargo ship with the International Space station. The docking will take place on saturday. A very busy time here. After the bell starts right now. Liz weve got apple, citi, blackberry, so much to talk about it. Lets get down to todays action. Ron weiner, Rdm Financial Group the ceo and founder. He has three ways to play the market. Michael gerka from the pits of the cme. Michael, lets get to what happened today. David and i are saying it is more of an individual stock story that drove the action. Absolutely. For the reasoning, you see s p climbing its head above 1700 here, i will not say pessimism is creeping into the market. What were seeing impetus, that decreased demand could be picture for end of the Third Quarter into the fourth. Were seeing that because of where bonds were trading. Yields coming down to 2. 70. Confidence eroding with some of our economic releases. David ron, how did you get advance notices with iphone sales . Youve said they will come back. Iphones in particularly will lead the way. Exactly what happened with apple. Particularly go against the street. When everyone goes one way the idea is to go the other way. We believe its a cheap stock. Trading pe ratio as proctor gamble. That is absurd. David when does it stop becoming cheap at what price . Depend how much they unveil. Depends on new products. Depends david youre avoiding, ron, specifically a number. 550 . Youre not getting me to bite, david. When the stock stops innovating when you start to worry and maybe get out. They still have a long way to go. They have a lot of things in their workshop. Well watch it right now, trading at about 14 times this year. 12 times next year. 10 times 2015. I dont know. Seems like a cheap stock to me. Liz well, ron, you have looked at those names. You also looked at financial names. You like jpmorgan. If you filled up that basket with names, youve got. Xl, financial etf, and it has done extraordinarily well over the past year. How long does this continue . I think there is some concern, more so than the past year, when all weve seen is the market take a moon shot but a little more concern now there has been a nice runup . Yeah, well, from where . Citigroup is, was 2 a share five years ago. So now, it is, what, a share. Liz reverse split too. Reverse split. It was 50. But it was 5. Really a matter can they lend more money can they make more money . They make more money when Interest Rates rise. When Interest Rates rise, weve taken a little bit of a reprise here. Citigroup will probably be great. Well go against the street. Everybody seems to hate jpmorgan. Well buy it. We think theyre a very solid company. Their Asset Management division is making money hand over fist. They have a solid Balance Sheet and great management obviously but i think you have to hang in there a little while with them but the most important thing, i think the government seldom gives gifts. I think theyre giving as you gift now. I think shenanigans going on with the debt. We all know it will end up okay but people will get worried. I think a little bit of this market now is because of worryworry about the deficit and what the republicans and democrats are ultimately going to agree toys, that is very interesting. Let me throw that back to michael. He think he has an interesting point does ron. Some people view this as buying opportunity. The fact that theyre making, market may be makeing a little too much for the shenanigans inside the beltway. Hopefully there are some traders who want the market to go lower so they can buy in. You know on the holidays every once in a while you get a really bad gift too. David thats true. Sometimes coal is coal. Yeah. This could be a gift but listen over the last five years there has been a lot of opportunities but you can only tap that keg so many times. That is one. Reasons were watching crude oil so closely here. I think even though overseas were starting to see some of these occurrences happen that should spike the market, more of a demand scenario. Thats one of the reasons why fundamentals are telling us things are a loot more bearish out here than one wouldbe leave liz where is the opportunity in the commodity world that might be coming . Viewers say that is down the road. Cotton, for example, it appears there may be a later harvest and that could hope problems with example, more serious weather. Is that a long opportunity . What are people saying in the pits . Well i would say that on the soft side theres been a lot of speculation that coffee has had a nice run and same reason people leave Housing Market with any life to it whatsoever. Lumber is beaten to death. That is showing itself to be cheap. On grander of scale of commodities most upside is clearly silver. Silver has best return to date. Think it remains cheap if you believe in any scenarios ive been barking about. David ron, quick point, because weve got to get to emac with breaking news. The fed is coming out with these daugher predictions about the economy. They got the growth projections wrong. Could be again behind the curve . Maybe fed itself is missing out on some growth sprouts here . Were loose looking at europe and emerging markets coming back a bit. 45 of all sales from the s p 500 come from overseas. I think there may be a little more. Not the best scenario to buy stocks today but i think it is only game in town. Interest rates will rise eventually. That will be bad for bonds. S p, large cap u. S. Is pretty safe place and nibble a little bit on the outskirts of our borders, being europe and emerging market. Have to have a 1224 month horizon or you will drive yourself nuts. David great stuff. Liz michael. Thanks. Michael well check back in four minutes as the s p news closes. David were back to the story Liz Macdonald is reporting on. She told you it could happen a week from now. Now she has more details. Citigroup telling fox business that they will lay off mortgage unit workers. They start with a thousand workers. Places getting hit with layoffs, las vegas, nevada and irving, texas and more states. They say there may be more action by the end of this year. Citigroup telling fox business theyre not making projections for anymore layoffs next year in 2014. Citigroup joining jpmorgan chase, bank of america, wells fargo, laying off mortgage unit workers as Mortgage Rates risen and refinancings dropped off. Whether or not this is a typical boom and bust cycle for a mortgage unit remains to be seen. This is real indicator what happens when Mortgage Rates start going up. You may see more layoffs coming at banks if rates continue to rise. Well give it back to you guys. David emac, thank you very much. Sure. David meanwhile the terrorist attack on the upscale Shopping Mall in kenya raises some very troubling questions about investing in africa and the whole continents economy. Well ask nigerias president how african governments can calm investor nerves. Liz also, blackberry, it was a huge story. It was halted and reopen and a bid on the entire company. Will it get out of its jam with its plan to go private. Wellhave a allstar panel to game the deal to sell itself for 4. 7 billion to a canadian insurer. David at that taking us to todays facebook and twitter question. Do you think blackberry is worth more as a private Company Rather than a public one . Log on to facebook. Com afterthebell. Well be right back. [ indistinct shouting ] [ indistinct shouting ] [ male announcer ] time and sales data. Splitsecond stats. [ indistinct shouting ] its so close to the options floor. [ indistinct shouting, bell dinging ]. Youll bust your brain box. All onhinkorswim from td ameritrade. Amelia. Neil and buzz for teaching us that you cant create the future. By clinging to the past. And with that youre history. Instead of looking behind. Delta is looking beyond. 80 thousand of us investing billions. In everything from the best experiences below. To the finest comforts above. Were not simply saluting history. Were making it. Always go the extra mile. To treat my low testosterone, i did my research. My doctor and i went with axiron, the only undarm low t treatment. Axiron can restore t levels to normal in about 2 weeks in most men. Axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. Women, especially those who are or who may become pregnant and children should avoid contact where axiron is applied as uneected signs of puberty in children or changes in body hair or increased acne in women may occur. Report these symptoms to your doctor. Tell your doctor about all medical conditions and meditions. Serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet or body swelling; enlarg or painful breasts; problems breathing while sleeping; and blood clots in the legs. Common side effects include skin redness or irritation where applied, increased red blood cell count, headache, diarrhea, vomiting, and increase in psa. Ask your doctor about e only underarm low t treatment, axiron. Liz we were just talking about this last week and now shares of the daily deal site groupon, falling into the red on reports of sluggish sales last month. Lets head back to nicole petallides. She is on the floor of the new york stock exchange. Nicole. Right. When we look at groupon it is really a volatile stock, in this case to the downside. You see it down nearly 6 today. Closed at 11. 94 a share for groupon. First of sales numbers, august slowdown more than expected. That was not food news for them. Equates to midyear 20s yearoveryear growth versus 30year over year growth in the second quarter. Ieg says that creates risks to the estimates. Thats the one thing. The other headline that was also a market moving event, they failed to persuade the federal judge to dismiss a lawsuit about misleading investors about financial prospects and internal controls. This is Something Else looming over groupon. You had both of these headlines today weighing on the company. As a result you see it down five. 5 today. David by the way you have a stalker behind you. Look behind you. Like right behind you. You have a stalker there. That is ted weisberg. There he is. Ill get him. Ill get him. No, im kidding. You could have worse stalkers than teddy weisberg. Liz i think teddy is doing a individual for venezuela or der spiegel. David see you later. Dropping to a sixweek low as citigroup and Morgan Stanley warn the precious metal will extend loss as u. S. Economy improves. Liz lets head back to Michael Gerka and sandra smith on the floor of the cme. Sandra, what should we be thinking about this move . Looking forward. The markets said good bibuy to the goodbye to kneejerk reaction to the announcement of the fed or lack there of. Weve gone from risk risk on to risk off. Crude is down more than a buck. Stock market is selling off. You have a market now looking forward and citigroup and Morgan Stanley, the reason why theyre saying that gold is going to fall to 1250 an ounce by the end of the year because they do expect the fed to taper. So the market is already pricing in what they anticipate to be the next move by the fed. David but, michael, the fed will only taper if they see improvements in the economy. You say what is driving oil prices down is demand. That is, that overall world demand indicates perhaps a slowing economy . For the same reason why you mentioned earlier before i was on about more additional Holiday Hiring on the parttime basis. That is exactly where job creation is. It is part time. There is not a lot of growth out here. For those reasons i could see the riskoff trade. That is why the s p every time has been 1700 it has been a great sell. I think that mantra will remain. Liz here we are, showing the futures about eight points below that, michael. What do you think the next move is . Ex, any major headlines tomorrow . 1615 on s p. And it has been kind after baseline in there. Then again if there is any shoots above 16708, a great opportunity to sell more on any kind of a spike. Like you said earlier and you did it well, individual stocks have been the story but the conglomerate, be it, russell, or s p or clearly the dow, indexes themselves are starting to look very toppy. For those reasons people are seeing a lot more buying of puts in option land. David 1650. Closed at 1702 today. Quick last word, sandy. On that note, watch the volatility index. The vix is up 7 or 8 today. There is definitely a spike in uncertainty and nervousness in this market. David sandy smith with the last word, and Michael Gerka, thank you both. Thank you. Liz got to talk about shares of blackberry. They rebounded from 10month lows after the struggling smartphone maker announced it struck a 7. 4. 7 billion deal to go private. Lets break down the deal. We have michael genevese mkm. Blackberry shareholder, vick al bony. He. Thank you to both of you. Michael, who will be the buyer of this . It appears were close to a sale point for blackberry some people think it would be a great deal for company like microsoft to acquire all the properties they now have. What do you think . What we have is not a deal. We have a letter of intent from fairfax financial which is a mutual fund that already owns 10 of blackberry. I think it has more than just commercial interests here. There is maybe a little bit of a mission to save the canadian tech industry. We have a letter of intent. We dont have a strategic buyer. We dont have a private equity buyer. We dont have any new bidders. Im concerned about this deal. I feel comfortable with my sell rating and my 7 price target. I think absolutely bestcase scenario it gets bought for 9 a share by fairfax. I think this is somewhat of a desperate press release. It indicates there is lack of any real strategic interest. If you recall microsoft recently announced the acquisition is nokias devices business. And i think blackberry is really left without a bidder outside of this related party, that made that letter of intent. Liz vick, this is more personal for you. Youve been an outspoken shareholder of blackberry agitating for change. Seeing the opportunities and value in certain parts of this business. Here we are with a 9dollars a share bid from fairfax financial. We couldnt even get up to 9 on that. How depressed are you . Mr. Again oaves used word desperate genevese. What do you think of the deal and is this the way to go here . No. As a matter of fact there is a opportunity for the breakup of the company. There is go shop period for 40, 42 days. That doesnt mean they will generate a higher bid but at very least there is opportunity to do so. This is very, very manufactured sweetheart deal. I agree with michael. That, it is very unfortunate. When you have a financial bidder youre not paying up. There is 2. 5 billion in cash in the company that probably melts after severance of 4500 employees. That probably melts down to about 2 billion. But even at 2 billion, youre paying 2. 7 billion which, essentially is the patent values. So youre Getting Software and Service Platform for free. From that point of view for shareholders its a very poor deal. David michael, is there any intellectual property living intellectual property left in blackberry . That is, i would imagine theres been a huge brain drain of talented workers that have left. I just wonder who is left . Well i think there has been a bit of a intellectual property bubble recently and i think the value of intellectual property is coming down. So im only valuing intellectual property of this company at 1 a share, 500 million. We could have a very healthy debate. I respect vics difference of opinion. Some people think it is worth more but a company like blackberry really doesnt have revenue stream or royalty stream associated with it. Liz thats not true, michael. This is Company Three years ago, owned 70, 7, zero percent of market shares of smartphones. Its valuation of the market cap was 81 billion. The high in 2008 was 148 a share. You can understand how vick alboini is saying what happened here . It is almost a crime . Its sad. It is sad that this has happened but at end of the day this is about what the consumer wants, what the enterprise wants to buy and, you know whether the companys public, whether its private, whether it ends up being bought by a financial, strategic a private equity or combination, the fundamental problem remains, which is that, first of all, blackberry has lost its cachet. Literally in the u. K. , in canada, and u. S. , you have people reporting that theyre embarrassed to be seen by a blackberry, hold on a second. Let me push back on that point, vic. The president of the United States still uses a blackberry. Talk about advertising. Why havent they been able, why hasnt blackberry been make anymore of the fact a lot of people like me, like liz, who still have a blackberry on their belt . Like the president of the United States . As a Niche Company it has an opportunity to survive. Even if they were to sell the hardware business or just trash it because it may not be worth anything, the bottom line is, there are assets that have some value. The software and Service Platform, you know david no operating system has better safeguards. Even apple is using the