. stuart: i'm going to call snapchat a millennial company because it is 20 somethings who created it. they run it. they use it. it's worth $10 billion. look at this. coach, ralph lauren, smuckers, best buy, garmin are too worth $10 billion but you heard of all of them. jolene kent is here to justify $10 billion on snapchat which hasn't yet i believe made a single dime. justify. >> i'm here to tell why you this may have happened, stuart. what's interesting is you have cleiner perkins investing up to $20 million back in may. there may be another investor. a lot of serious interest in the potential monetization. stuart: serious interest. potential monetization. that's what we need to remember. snapchat, i send a message to you on snapchat. you receive it and it disappears in 10 seconds. >> it's really fun. i'm not an active snapchater, there are people who are older than millennial generation who are enjoying it. a good way to share. stuart: you think i in my geriatric years are going enjoy it. >> you have the potential. stuart: you tell me you have the potential to monetize that. how do you get money out of a message that disappears in ten seconds? >> there is video chatting on snapchat. different ways to communicate. there are rumors more features are coming, more ways that news organizations can collaborate as well. evan spiegel, the 24-year-old ceo is meeting with media executives. you're talking about a potential platform with connected verticals. stuart: 24 years old, evan spiegel. >> 24. stuart: do you know how much he owns of snapchat? >> a good chunk of it. he's based in l.a. if you have the silicon beach phenomenon expanding as well, l.a. is a booming place for tech. snapchat leading the way there. stuart: it employs 35 people. >> 35 lucky people if the valuation goes up and they get acquired. stuart: if the valuation goes up, it's worth 10 billion. you want more? >> i don't want anything, stuart. stuart: you have whatsapp, 19 billion. uber 18 billion. snapchat 10 billion and rising. i could make the case that is an app bubble. very similar to the dot com bubble of the 1990s. tell me i'm wrong. >> i'm not here to talk valuation, just like jolene. it's notable this is one of two legs of the economy driving us forward giving us the 2% growth. it's silicon valley and the innovation going on there and the innovation in the energy industry. i'm thrilled to see animal spirits in silicon valley creating the new applications, that's fantastic. just get government out of the way and get somebody new in the white house and we'll create it. stuart: throw this out to both of you. you refuse to answer the question is it an app bubble. i put it to you snapchat hasn't made a single dime. doesn't it remind you of the dot comes of the 90s which relied on eyeballs for the valuation. >> i'll say this about the bubble. we are talking about the internet of things. other companies that are valued around $10 billion, uber, airbnb, these are services, right? unlike the bubble of the late 1 0, we're looking at an economy that is becoming fully integrated. this is how we communicate. just not an option but a large sector of -- >> yes, remember, when this happens too, it forces old line industries to innovate. look at our business world columnist, he wrote about a company called data miner extracting a lot of value out of twitter which we didn't know was there but may force news organizations to change, too. it's not just about the app industry, it's what the app industry is doing to other industries around it. stuart: fair point. i'm interested in trying to explain to our audience which may not have much contact with snapchat, why it's worth so much? and is it a parallel with the dot com bubble which burst dramatically? >> some of the companies survived and made a lot of money. stuart: not many of them. >> one point, they may very well be overvalued, no doubt about it. in terms of a bubble overall talking about technology, most are not watching. stuart: tell me about square, valued at 6 billion. what do they do? >> we're just throwing around billions, this is great. square is a company interesting to watch. they do mobile payments. you plug the square into the phone, you can exchange money. they are getting traction here, square is a company to watch because they've had operational cost issues in the past, in the not too distant past. this is good product. stuart: they have a good product. >> intellectual property is good too, stuart. you don't have to hold it in your hand to be valuable. >> it is there, stuart. stuart: no, no, no, we have two hours. more on this. jolene, excellent stuff, you are making me see the light. well done, kent. >> thanks, varney. stuart: tonight, 6:00 eastern, charles payne will tell you how to make money on snapchat even though it is a private money. "making money" tonight 6:00 eastern with charles. fbn. check out big board, where are we in wednesday, lunchtime in new york. 13, 14 points higher for the dow industrials, up against 17,120. look at the s&p 500 first time closed above 2,000 yesterday, right at 2,000 today. tiffany, the rich, offer 20%, they are spending money. buying stuff at tiffany. tiffany expects it to keep buying stuff. at 102, up 2%. gold, not much movement there, 1283. we keep an eye on the interest rate barometer, the yield on the ten-year treasury, near historic lows, down today by the way, inexplicable to me. 237 is the yield. smith & wesson taking a big hit, is this because people are not buying rifles? is that the story? >> yes and no, i'm going to give you the whole story. last year the stock was up 60%. gun enthusiasts were rushing tout buy pistols, rifles because they were concerned about more regulation from the government after high-profile shootings, right? we've talked about this so many times. most recently sales have been down particularly for sporting rifles, but i think some of that inventory buildup that smith & wesson saw and stern rueger is because a lot of the gun enthusiasts rushed to do purchases. stocks were up 60% each last year, pulling back this year. a seasonality issue in the summer. you don't see the sales numbers pop in the summer. that's what they say. so we'll continue to watch it going forward. but they cut the forecast, but as i noted, a lot of people ran in there and did do their purchases. today a little tough time for smith & wesson. but a great few years. two years ago it was up almost 100%. stuart: it was. down 13% today. thank you. foreign policy can still move this market. so here's the latest on isis. reportedly they are demanding 6 $1/2 million to release a 26-year-old american woman held hostage in syria. she has not been publicly identified. she is an aide worker. a chicago born american named douglas mcarthur mccain died fighting with isis militants in syria. colonel ralph peters is with us. hard for me to get a grip on. i don't remember many americans fighting with the enemy in previous wars, but now they're joining isis by the hundred. this to me, is inexplicable. do you have an explanation for this? >> actually, americans unfortunately have fought for the bad guys. in world war ii, a lot of ethnic germans did fight for the nazis. amazing to find any gap in your knowledge, stuart. you are always so on top of things. stuart: i'm trying to say look, inexplicable. they are born into american culture, into british culture and they are beheading people? what's going on? >> it's ugly, and there's no excuse for it. you got to keep it in the perspective, though. we estimate 300+, around 300 american-born jihadis active with isis in syria and iraq. that is one in a million. they're not raised muslim. beware the convert. converts are the most zealous people. i tell people we absolutely must worry about the guys coming home and making mischief on our own soil. in the meantime, worry about the weird kid with no girlfriend, living in mom's basement spending the day patrolling bomb making and jihadi sites. you are seeing a phenomenon of lost souls and the jihadis are very good at recruiting lost souls. stuart: do you think we are defending our values in a muscular enough way? i think america, europe, britain, we are the product of a judeo-christian culture for a couple of thousand years. we have freedom, we have liberty. we have a concept of who we are. we are free people. are we not defending ourselves and pushing ourselves forward fast enough and far enough and strongly enough? are we at fault here? >> yes, you are absolutely right. conservatives turned the education system over to the left, and you get what you pay for here, folks. and people self-segregate. conservatives go with the financial industries and the business and the military. the left goes into education, and so our children are raised up to believe that america's bad, our history is one of exploitation and somehow all cultures are equal except ours which is less equal than others. you know who it doesn't take for? interesting some of the most patriotic americans are immigrants, including muslim americans. don't worry about the muslim pediatrician in the clinic. worry about the converts and the disaffected youth. despite the denigration of our culture of our judeo-christian her the nadge universities and the schools. we have a much smaller problem than europe does for a couple reasons. one, we got the educated muslims, the doctors, the lawyers, the physicists. europe got the proletariate. united states is the land of dreams, muslim, jew, hindu, it doesn't happen in france or germany. it's tough to have it happen in england. we should be proud of our culture, recognize that muslim americans aren't the problem the european muslims are, but at the same time, obviously have to watch for the bad apples. stuart: real fast, colonel, i want to play you a sound bite from former 9/11 commission chair tom cane and get your reaction. >> i don't know of any active plot either. talk privately to the intelligence agencies both present and past, they're scared. they don't know who the people are. that american who blew themselves up as the suicide bomber come into the united states in between and gone back, we didn't know it. stuart: he says he's on the inside of intelligence services, he's spoken to people in the business and says they are scared. he used that word. your response? >> well, i'm also somewhat plugged in. i'll use the word concerned or alarmed because the administration has so neglected the threat, and you have a finite number of intelligence assets. and they go where the president wants them to go where, he's concerned. even though the intelligence community wanted to watch islamic state formerly isis or isil, the white house contradicted the narrative, but, yes, we should be very, very concerned. the threat today from islamic state in the protocaliphate is much graver, richer, more numerous, more aggressive and brutal than al qaeda was. stuart: we hear you and thank you as usual for coming on the show again today. >> always a pleasure, stuart. stuart: yes, sir. up next, the makers of the v-view cop camera. if the police officer who shot michael brown had been wearing one of these, we could have seen a different outcome in ferguson. cent right at 37. big number on the budget, increase more than 85% in the next ten years. that would include medicare, medicaid and obamacare. up 85%. next from the cbo, income tax receipts up 97 billion dollars. corporate tax receipts up 14%. the tax money rolling in but we're still keep that deficit at historically high levels. numbers just out at 10:00 eastern. here's the question, going back to the initial confrontation between michael brown and officer darren wilson. if the officer had been wearing a body camera, would things have developed differently? with us on the set today, steve lovell, the president of vievu which makes the cameras suitable for wearing by police officers. you are wearing one right now. >> yes. stuart: what you are putting out from the camera appears right here on a smartphone sitting right next to me. you point that thing at me and i see this? >> that's correct. stuart: so you market the cameras to police officers around the country, police forces? >> vievu we manufacture and design wearable cameras and primary market is the law enforcement. stuart: what you want them to do is wear those things while they're on duty, everything is recorded, audio as well? >> accurately and efficiently documents their day. stuart: digital quality? >> hd as well. resolution is selectable. stuart: where is the video storeed? >> localized at the industry or we have a cloud based storage model that agencies can utilize. stuart: so police officers, people in the law enforcement business can access that record of a confrontation from anywhere at any time if they can get into your storage system? >> that is correct. we track all activity. at the end of the day, this evidence is they're recording. we have to have the chain of custody. stuart: are you selling to any police forces yet? >> vievu is a market leader. we have 80% market share in the public safety market. 20% of police officers deployed. stuart: more police officers wear your cameras than tasers? >> that's correct. stuart: really? that stock went straight up, you know. >> they reacted well to the incident two weeks ago. vievu we're made by cops for cops company. this law enforcement camera, everything we design is from our experience. i served 20 years at oakland, california, and i understand what the guys in the crown vic go through. stuart: you're a former police officer? >> yes, oakland, california. stuart: how much for the camera? >> only 349. stuart: how much for the storage, that's expensive? >> storage costs can rise, based on how long the agency wants to hold the records, that would be dependent. and obviously the number of cameras they have deployed. stuart: let's suppose i wanted to -- trying to put a dollar number on the cost of storage, that can be prohibitive. you can give me an average cost of storage for the police officers who have the cameras now? >> if we store locally, the cost to store is relatively cheap. $15,000, we can build out the infrastructure. stuart: what do you get for $15,000? >> a client station, server, storage array, that will host data and be able to upload the cameras and manage the system. if you want to move to the cloud model, we have an average cost of 40 cents a gig that you store on the cloud. that can be totally managed by the agency which can control the costs which are the big things for the agencies. stuart: vievu, the name of it. >> privately held. stuart: when are you going public? >> we like to hold our cards close. get back to you on that one. stuart: look, thank you for joining us. we find this a very poignant product at this moment in time. thank you for joining us. >> thank you. stuart: good luck. i got my start in real television. 34 years ago when cnn first went on the air. fast-forward to today. things have changed. cnn telling staff to prepare for layoffs. even offering to pay some employees to quit. what went wrong? 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[ male announcer ] cleaner, fresher, brighter every day. speed to that is the 500 above 12,000 yesterday. that prices at record highs. who are the big winners this calendar year? and energy company. curated grebe outdid up 79%. not bad for a coffee company. big name. you know this one, southwest airlines. up 70%. i have said it once, i will say it many times. piers morgan. new data says you do not like him much either. the study found that 10% of the tweets were derogatory in nature. they had no problems and problem in being just as being in his response. >> it will be cnn. chief zucker. we will do less and do it with less. older staffers offered a buyout. media for the "wall street journal." joining us now. >> the problem is the ratings are down. basically, consumer habits have changed. the company is having to cut back across the board. stuart: i think it is a product. fox news jumps out at you. direct the attention of the audience. they take a step back. they are wishy-washy all the way down the metal. >> i try to have a new strategy. stuart: he wants to take it away from straight news. is that what he is trying to do? >> politics and more, basically. stuart: has the man had a decent idea yet? >> he is so nice. they are losing. they are cutting staff. people are getting hurt. >> it has been a challenging month. stuart: i was the first person to broadcast for cnn did the first person to broadcast out of new york. we were winners. we went downhill in the 1990s. now people are losing their jobs in korea. the ratings are down. thank you for joining us. we appreciate it. president obama will attend a big money raising fundraiser. it is a barbecue hosted. charlie gasparino joins us on the top of the hour without one. lois lerner's blackberry was wiped out months before the 2012 election. they are booking fake lift rides. is this how millennial's do it? after the break, president obama on climate change and air strikes. we will ask congressman bill johnson how he feels about that one. ♪ when folks think about what they get from alaska, they 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. that's not a coincidence. it's one more part of our commitment to america. ♪ stuart: a big name and you know it. it is moving up 20%. that is enough for a 20% gain. gm is back in the news. claims for more than 100 deaths. the stock is still right there. president obama. climate change. according to the "new york times," the administration is negotiating with other countries. congressman bill johnson joins us from ohio. congressman, can the president work out a deal with the united nations on climate change which changes our behavior you're here. can he do that? >> he cannot bind america to a legally binding treaty. what he is trying to do right now stuart is due this hybrid politically binding. he will embolden himself and trying to hold america to a standard of emissions that the rest of the world is not willing to stick to. stuart: he is going to make a promise. >> it is absolutely a political move. america getting squeezed at the gas pumps, grocery stores and in their paychecks. now they are looking at skyrocketing emissions. they threaten thousands of jobs. stuart: the airstrikes against isis. >> he needs to come before the american people. the president needs to: secretary hegel, congressional leaders both in the house and senate. we will get an assessment by our military commanders. we will start adding to our defense spending. we will find responsible cuts off that sequestration. i am encouraged by him reaching out to other countries. we are the key player. we are the ones that have the capabilities to stop these groups. >> if he came to congress -- >> he just needs to put his pride aside and his dance to work with people. i have talked to constituents and i have not heard one person say that we should not do everything possible. new details on the irs scandal. the loss lois lerner e-mails. mark blackberry. it was wiped clean just when investigators can look. she still says she has done nothing wrong. >> wrong. i have not broken any laws. i have not violated any irs rules or regulations. i have not provided any false information. ♪ time and sales data. split-second stats. ♪ its so close to the options floor, you'll bust your brain-box. all on thinkorswim, from td ameritrade. what would help is simply being able to recognize a fair price. that's never really been possible. but along comes a radically new way to buy a car, called truecar. now it is. truecar has pricing data on every make and model, so all you have to do is search for the car you want, there it is. now you're an expert in less than a minute. this is how car buying was always meant to be. this is truecar. ♪ ♪ nicole: i am nicole petallides with your fox business brief. the s&p 500 still holding that mark. take a look at some of the retail earnings we are focusing on. tiffany hits a new high. a pullback off the new highs. great news. express 12% to the upside. it beat the street despite the fact it had higher operating sessions. 7.7%. their profit fell at chico. best buy is bouncing back. holiday guide guidance they said would be weak. ♪ stuart: the irs scandal. lois lerner's blackberry. it was wiped clean of all e-mails in june 2012. the date is significant. it happened after congress started its investigation. david kennedy joining us right now. can we get this information? the blackberry wiped clean. the information that was wiped, can we get it? anyhow? anyway? >> the information is pretty much gone, unfortunately. stuart: the carry your or that black berry, they would have a record of who was called and when and how long the call lasted. >> calls, yes. e-mails would be handled through their normal mail server. what happened is they had e-mails that reside on the server and phone. the servers themselves actually contained all of that information. stuart: i do not want to confuse things here. the e-mail that was sent on that bob perry still exists somewhere. >> all of that information should definitely be stored on the servers in the irs infrastructure. that is where the slippery slope really comes into. stuart: you say they exist on servers somewhere. the irs says too much trouble to go get them. you, david kennedy, given access to the servers, you could just get them like that. >> we could definitely go back and get them. >> a couple of days to a couple of weeks. >> that is incredible. though blackberry it was wiped clean and 2012. lost e-mails from the computer. they emerged a few months ago. you could get it all in a couple of weeks. >> the servers are where i go and focus. the scary part with all of this is her phone was mysteriously wiped. her hard drive mysteriously crashed. a clear indicator that something is not right. >> you could do it. you could do this without too much trouble. stuart: i want you to come back frequently and tell us, you could do it. >> i will take that challenge any time. stuart: which challenge is that? i thought you wanted to do an ice bucket or something. stuart: thank you very much, indeed. >> we had an editorial on the guy named andrew who was part of the tax exempt association. overseeing the investigation into one of the groups. stuart: there are cracks in the defense. do you think we will get it before the election? >> i think we will get the truth. stuart: next up, the woman who runs the international monetary fund. do they have a case or is this all just criminalizing? we will be back. ♪ ♪ [ dog barks ] ♪ [ male announcer ] imagine the cars we drive... being able to see so clearly... to respond so intelligently and so quickly, they can help protect us from a world of unseen danger. it's the stuff of science fiction... minus the fiction. and it is mercedes-benz... today. see your authorized dealer for exceptional offers through mercedes-benz financial services. stuart: i think it is time to talk about the criminal migration. now, christine lagarde. you think she is corrupt? she is being investigated in a corruption probe. driving political acts. politicizing. joining us now, our favorite recovering european. the charge against christine lagarde is she was negligent in a corruption probe. she sent this corruption probe to an arbitration panel. because she did that, she has been charged criminally. i think it is flat out nonsense. >> i agree with you. she is not being found guilty. negligent really sounds like it is a subject if of the situation. this is a long time coming. some people speculated that she was part of that. they are objected to and lots of legal troubles. there is a lot of political persecution going on. stuart: the nature of french politics at the moment. the approval rating is at an all-time low. stuart: going after political opponents with criminal charges. >> it is not surprising. when you have no economic ideas. you have no intention to actually fix the problems. you try to go and attract attention. >> we cannot say that it is worse here than there. 16% of the french, 16% support isis. that was a result of that poll. you have to tell us what is going on with this. >> i was not surprised with that number. mary and i exchanged e-mails. i told her that i thought it was pretty stunning and palpable. it was also tracking very strongly with strong, strong unrest in the young, muslim defense. stuart: that is what it has come to. the large immigrant population of france. that is one extraordinary problem. >> this type of unrest has been ongoing. i agree with you. the unrest is not surprising. you bring in people who think they will have a good life because they will be paid by the government. they find out that they are paid somewhat by the government. their life, it sucks. >> give me some growth and i will give you some problem solving. stuart: president obama called them that tax. asking for money. details on the latest fundraiser in a moment. wait until you hear how uber is trying to sabotage. the second hour starts in two minutes. ♪ 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 moment's 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 30-tablet trial. stuart: he raised money on vacation. he raised money during crises. now throw in labor day. serious money this holiday weekend. wall street. serious money. we mean it. monday, president obama will go to wealthy westchester for a bbq. each will pay $32,000. do the math. that is a huge payday. why not. wall street has done extremely well. who would have thought it would have come to this. president obama passing the hat around wall street. ♪ >> i did not run for office to be helping out a bunch of fat cat bankers on wall street. stuart: here is charlie gasparino. i conclude 250 while streeters pang this. wall street still supports president obama. [laughter] >> just went through all of his wall street connections. the guy ahead of this fundraiser. >> you have to tell me about the bankers. $200 billion taken off. >> and lots of these things do not like him. goldman sachs. i think the university of california. no longer big contributors. i would think maybe james preferred a candidate. they are considered wall street's major candidate in 2008. >> who are the people going to this bbq? >> it will be mostly hedge funds guys. a little bit of a war here. they still like barack obama. big obama supporter. this is a different barack obama. most of the things supported mitt romney and 2012. he still has a huge following. they did very well with the markets. >> redistributing from there to there. it has gone from there to there, stuart. look at how much the rich have gotten richer. and the four have gotten poorer. >> that is a story that only we have covered. george bush, where are these stories now. they have doubled down. stuart: i am not surprised that the hedge fund guys would pony up. >> i think the regulations have cost. i will say this, they will line up and support hillary clinton. they are the epitome of crony capitalism. stuart: charlie gasparino. always good, sir. nine points up. the s&p 500. everybody knows they closed above 2000 for the first time ever yesterday. very slow trading. hardly any movement. smith and west end. the dow 13% today. tiffany raises its profit forecast again. of $101 a share. we are down $1.07. we will keep an eye on we always do on the yield of the 10 year treasury. moving lower. it is a big name and you know it. nicole, tell us why it is up, please. nicole: we talk about isis in a very serious manner. there is also a stock with a very serious ticker symbol. after about a half of a percent at the moment. of almost 11% yesterday. we saw the biotech index jumping. piper jeffries named isis among several stocks. it is based in halifax california. not doing much over 52 weeks. they have heart and nerve and heart tissue. these are some of the things under their umbrella. >> we certainly do. thank you very much. let's get the latest on isis. they are reportedly demanding $6.5 million to release an american who is being held hostage in syria. she has not been identified. a chicago born american has died fighting with isis militants in syria. last hour, we brought on the show colonel ralph peters. listen to what he had to say. >> 300 plus americans. that is literally one in a million. they are not people -- congress to anything, including technology. the most zealous people. stuart: i want to start out by saying you are a brave man. you have been interviewed throughout the media. taking a very pro- america, pro-democracy distinction. thank you very much for being back with us, sir. appreciate it. stuart: what is going on in america? going and fighting for a bunch of ruthless killers. explain it. what is going on? >> it is all about the narrative. we saw the wrapper that committed the beheading on mr. foley. the narrative on the other side includes some enemies which we share such as assad. they take legitimate words and say that the patriotism is a way to defeat that. they feed on the primary idea which is the islamic state. flourishing throughout the middle east. just like 9/11 was a product of policy, the saudis were our allies. they push the ideology that created this. it is pulling our youth into it. the war in syria, it is a large magnet. stuart: are you concerned because some of these youngsters may come back to america and attack us in the homeland? your own children desert and fight for the enemy. are you concerned? >> i am very concerned. there are more muslims serving in isis than there are in the british military. until we have an american patriotic movement, the vacuum is going to -- that is why i am so active. the ideas of pro- americanism that this is the antidote, until we feel that vacuum, they will be radicalized and they will continue to be a threat. it is easier to get back on our homeland. stuart: we admired admire your work and we admire your bravery. we have another angle on the isis story. $2 million a day from black-market oil. some reason to get out there and frack some more. drill some more. right here in the united states. we are also looking into the expiration date on drugs. that will be coming up after also have chick-fil-a. going healthy. we will discuss that. doctor ablow is here also. can't we all just get along. maybe this is why millennial's get a bad rap. we will deal with this next. ♪ ♪ stuart: chick-fil-a announces a new product this menu. 300-calorie chicken and egg white sandwich. shift towards healthier food. >> you reported earlier in the week. millennial's pushing fast food giant to change menu options. we have a quote from mcdonald's chief brand officer. millennial's are promiscuous. it gets harder for. stuart: who said that? >> mcdonald said that. they will commit to fast food brands. i think she was being funny, yeah. you know what, chick-fil-a has a chicken and waffle breakfast. interesting stuff. >> it is. thank you. uber has a rival company called lyft. they have a playbook. they are giving its employees prepaid cards. they did put up a blog post detailing it driver recruitment program. supplying long-term operations growth. let's bring in the senior editorial tim lee. let me see if i've got this right. hoover puts out the playbook. it encourages some of its employees and gives them cell phones and prepaid cards. >> i am not sure if the goal of the campaign is this. uber and lyft are fighting. they are trying really hard to recruit them. they can go on rides with drivers. i think what is happening is if you have a driver that a recruiter has already talked to, they book a ride. they are about to get another ride with another driver. stuart: i thought that this was a dirty tricks campaign. >> it is disputed. uber claims it is just a recruitment campaign. it is hard to know. they have a welcome kit that the recruiters are supposed to have ready. they can immediately start the process of getting them on board. >> i think of uber as millennial companies. it is kind of sketchy. >> i do think that the cancellation part is quite sketchy. it gives them a new option. it also gives them more leverage. i think it is certainly worth criticizing uber. i also would not want to scare them away. it is illegal for them. stuart: i think it is kind of more of a dirty tricks campaign and you do. thank you for joining us. up next we have doctor ablow. he will weigh in on this. will he blame the millennial's? 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the real question here is what kind of regulation would you like to see on the delivery of the addict give drug known as nicotine. >> stores cannot sell these things to minors. that is enough. no more regulation on nicotine and that. >> as a psychiatrist, i have noted that people who switch to e cigarettes do not only switch to e cigarettes from regular ones which are much more dangerous, i found that they didn't quit, not everybody, but some people. people are ignoring the fact that these can be massive. if my kids were going to try something, i much rather her tried a e cigarette and a real cigarette. let's visit you a year in the future and see if it has happened. i would like to know if this prevents you from smoking. stuart: are you allowed to answer the following question? >> i think that nicotine can increase and a doer concentration. it ought to be looked at. the united states have people on the patch. if they try to stop this patch, they get massive depression. that could be a referral. nicotine could help treat depression and we have to look at that. dr. keith ablow. stuart: expiration drugs. are the expiration dates necessary? 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>> no app bubble. this is a fantastic application. millennials are addicted to it. this is a very sticky app. i talked to my 15-year-old daughter about it last night. they can't live without it. as i said all the millennials are into snapchat. 100,000 monthly users use it regularly. you talked about uber, think of snapchat as the uber of the telecommunication segment. stuart: he likes it, ed has other thoughts on snapchat, don't you, ed? >> no question there's an app bubble. more importantly the problem is how they value the companies. they're valuing per member at $30 per member. and this is what investment bankers are doing, they're doing to get more and more business. it is not sustainable, reminds me of the late 1990s. my daughter loves snapchat, kids love snapchat. if it doesn't make money, stay away from it. stuart: there you have it, ladies and gentlemen, two sides with the different opinions. apple stocks, record territory hit $102 a share this week. presplit -- michael, you say this is going to 1,000 bucks per share. >> we're talking 24 months out. i don't think it's a question if it's going hit a thousand, a question of when. these guys are doing everything right under the new ceo tim cook, owning the enterprise market for tablets. huge margins with the iphone, coming out with a product called continuity with unified computing where all of the devices will form their own ecosystem and communicate seamlessly. working on emerging markets, working on education markets, working with ibm for the enterprise class market and business applications. these guys throw off a lot of cash, huge margins, big dividend play, big stock buyback, bullish on apple. stuart: hold obefore we go to ed on apple. i want to ask you michael about ipad. they're working on a bigger ipad. 13" screen. what do you make of that? >> a good move for the enterprise class market and emerging markets where people skip going from a standard feature phone to either a smartphone with a bigger screen or ipad with bigger screen. nearly 13 inches. works great for the enterprise class and ahouse people to do productivity tools and entertainment as well. stuart: come on back here, ed, i don't know whether you were shaking or nodding your head when michael was talking about apple going to a thousand. what's your position on apple, ed? >> he's going to hate me when we're off the air, i'm negating everything he says. i love apple as well. everything in technology in my house is apple. there is a lot of competition, you have htc from south korea, you have companies all over that are going to compete but minus one thing, the comptig is right there at their heels and th . stuart: ed, for a long time, you say you like utilities, you like it, you buy it, give me a pick in the utility sector. >> dominion is the strongest one, 5% upside but you nice dividend and you buy utilities for safety. what's neat about the utilities, they are not victim to geopolitical risks. we have a lot of risks around the world. buy utilities and i'm buying dominion. stuart: michael, do you want to argue with ed about utilities. nod your head one way or the other. >> no utilities for me. unless you are talking about a reit which is utility-like. i don't like financial services right now. i don't like utilities. technology is the road for the future, it's where fortunes are made. stuart: this show is like day and night. well, michael! >> arm wrestle here! >> what sectors are you avoiding, ed? you don't like retail stocks, do you? >> not at all. all the news is a daily thing, walmart misses numbers, target misses numbers, sears misses numbers, best buy is a tough secttor make money in. when you have all the choices, what you should put last on the buying list is retail stocks. stuart: i want to move to the drug sector because gerri willis is here with us. something that hits very close to home, that would be the expiration dates on drugs. gerri, welcome to the program. >> good to be here, i have been doing something else clearly. stuart: you've been avoiding us. >> not at all. i brought drugs. stuart: allev? that's a drug? >> these are my allergy meds. stuart: an expiration date on them? >> absolutely. you know what? it means nothing you. >> could take your allergy medicine way after the expiration date and it's fine, nothing happens to you? >> no science behind the idea that the drugs should be thrown out after 12 months or sometimes as much as four years. if you see -- the only study i've been able to find shows that these drugs are good a year to 5 1/2 years after the expiration date. 88% of drugs good 5 1/2 years after the expiration date. it's a dirty little secret of the pharmaceutical industry. it's required by the fda, the federal government to put an expiration date. they are superconservative. stuart: they like to do that. >> yes! >> you see the expiration date and say i can't take this stuff. better get new stuff, pay all over again. >> and pay out of pocket for everything from aspirin to very expensive pharmaceuticals that you get right at the drugstore. stuart: okay, that's drugs. want to go off base for a second. you buy a can of food and see the expiration is two months ago, you still eat it? >> no. stuart: really? i'd eat anything. [ laughter ] i have no problem with that stuff whatsoever. none, whatsoever. you see a loaf of bread, the "sell by" date was yesterday. would you eat it? >> i drink milk after the expiration date. the bread is going to get moldy, the milk is going to stink. stuart: you wouldn't eat the mold on bread. if the toast is black, it's okay. >> you're amazing! >> in this economy, you gotta do what you gotta do. [ laughter ] >> stuart, it's a penicillin experiment for you. stuart: i was born in the late 1940s in england when we had rationing of food. we don't waste food. >> there's no fear. stuart: i don't live in fear of expiration dates. and if i see a little mold, it's penicillin, it's only penicillin, a little piece of bread, you toast it, eat it, you are fine. >> or cut it off. >> voice of reason right here. stuart: what time is your show? >> 5:00. stuart: what's it called? it's "the willis report." stuart: hope i'm still alive to watch it. [ laughter ] >> back to michael, he's still in san francisco. before you go, you say apple hits a thousand dollars, that would be a presplit price. where is it going from the 102? sort us out? >> $142.85 would get you to $1,000 a share on a split adjusted basis. thank you for letting me clear that up. >> i want to hear a time frame. $142.85 by when? >> 24 months from today. call it labor day two years from now. stuart: you say no? >> it could, i wouldn't be buying the stock. >> put money on that. michael, i'll put money on it. >> steak dinner. >> two years from now? like stuart if he has survived his bacteria on his bread. >> that will be the best filet mignon i had. stuart: bacteria stu will be back. thank you, everybody. isis raking in 2 million dollars a day from oil. this is all the more reason why we need to frack at home, isn't it? why is the administration dragging its feet? we'll ask. in our next hour, deirdre bolton why snapchat is not overvalued at $10 billion? even though it hasn't made a dime. "risk & reward" coming up at 1:00 p.m. eastern. >> i'm nicole petallides with your fox business brief. the dow jones industrial average up about 10 points at 17,117. the s&p 500 sitting right at that 2,000 mark. and the nasdaq composite setting a new 14 1/2-year high with utilities, telecom and health care leading the way on wall street. take a look at radioshack, up about 40% this week. 40%! that's because they may be getting rescue financing. stock is up 16 points, 2%, it would help them to avoid chapter 11. under armour, the analysts have been checking and noting that under armour gaining in footwear and gaining on the number two footwear maker adidas, number one is nike. in the midst of a deal with kevin durant. keep an eye on williams-sonoma and guess reporting after the bell. williams-sonoma near a high on the day. when your favorite food starts a fight fight back fast with tums. relief that neutralizes acid on contact... ...and goes to work in seconds. ♪ tum, tum tum tum tums! try great tasting tums chewy delights. yummy. 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 4-quarter p/e of the s&p 500, its yield is doing a lot better... if you've had to become your own investment expert, maybe it's time for bny mellon, a different kind of wealth manager ...and black swans are unpredictable. . stuart: starbucks fans celebrating the early return of the pumpkin spice latte. internet is abuzz over reports of a controversial ingredient, it's not pumpkin by the way. lauren, what is it? >> no pumpkin in the psl, the pumpkin spice latte. who cares! it's a flavor. people get upset about this stuff, they are upset about something in the pumpkin spice latte, that's the caramel coloring. a very small amount. but if there is a lot of caramel coloring that could potentially be linked to cancer. so that is something that we're watching. also the internet is abuzz about another ingredient, the high fructose corn syrup. if you buy the syrup at home, there is the high fructose corn syrup in that. stuart: bad? >> apparently. stuart: in what way, do we know? >> i don't know. >> too much of it. if you're a latte addict, it could have cancer or sugar. stuart: this sounds like an internet buzz scare. >> yeah, i agree. well, the caramel coloring, some people are against that, but the no pumpkin, no pumpkin in pumpkin spice. it's the flavor. stuart: if i see the stock, i'll worry. back to isis and oil, the terror group makes we are told $2 million a day by selling oil that it drills within its own territory. so why doesn't president obama let us get out and frack for natural gas and for oil here in america? why doesn't he go gung ho for this. bring in russell gold, the author of the boom, which is all about fracking. russell, welcome back to the program. good to see you again. you've got to explain to me, you know about fracking, you know what's going on here, you've got to explain to me why does this administration not go gung ho to frack for more oil and gas which is ours? why not? >> what we see right now is that the administration isn't really putting its way behind it, but they're not getting in the way either. they're letting so much of this development and fracking going on in private lands in north dakota and texas, there's not that much in public land. you know, the administration is in a tough spot. stuart: so is america, for heaven's sake, isis making $2 million a day from oil? and that goes right into coffers to produce more terror? what does it take to get america to see that we should get our own? what is it going to take? >> let's keep this in perspective. during the time that president obama has been in office. the amount of oil we're producing in the united states is increased astronomically. texas up to 3 million barrels a day from one million barrels a day in 2008. just enormous increases, so it's very difficult for me to understand the argument that president obama is getting in the way of this. he might not be a cheerleader. stuart: he should be a cheerleader. that's my point. he should be. they're not fracking in new york state. not fracking in california. two of the biggest states with two under the ground reserves. they're not going after the gas and the oil. i want to see the administration get behind it. come on! what's wrong with them? >> well, you know, they're just a phone call away for you, stuart. stuart: i'm not blaming you. i know you're the messenger of this and i'm not blaming you, i'm trying to get my head in a place where i understand why? this administration, this country isn't going to get what is ours when we need it. >> well, remember that president obama actually got in favor of increasing amount of offshore drilling, wanted to lease on the east coast. this is a week before the deep water horizon explosion. maybe he feels when he promotes oil and gas development he's hands off, when he's hands off, good things happen. stuart: you got to get to your contacts russell. >> i'll work the phones. stuart: i'm not joking here. this is serious stuff. it's a great book and thank you very much for being on the show. liz, you wanted to say something? >> still a u.s. ban of exports and gas. if republicans get control of the senate, will the ban be lifted. stuart: production and export. production first. wind and solar farms get a get out of jail free card for killing birds. the traditional energy companies get fined for the same offense. what's going on? that's next. for your 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 you're 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. 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. 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