tv Markets Now FOX Business September 3, 2013 11:00am-1:01pm EDT
very much. airtime is up and it is yours. dagen: thank you so much, great to see you. president obama saying the u.s. should take the very action against syria but needs the backing of members of congress. dennis rodman back on north korean soil for the second time this year, he says he is trying to bridge a gap between americans and north korea. how about just keeping him? it is the deal, microsoft by nokia's mobile business in a $7 billion deal and based on 50 shades of gray finally has its two leads. one, the star of sons of anarchy, the other of the fallen of two watch the babys celebrities. are they hot enough? we discuss all that they make the dow picks of the month of september, usually the roughest
of the year with some green. let's go to nicole petallides at stock exchange with what you looking at? nicole: people getting back to worst, first day of trading, the end of summer, a feeling of back to business on wall street. dow jones industrials looking good at 88 points, manufacturing numbers obviously rose to a higher level than we expected so that was good news and we see the dollar jumping, oil and gold moved into the green and the picture on the dow jones industrials, seeing names like microsoft and verizon and at&t under pressure and financials doing well like american financial american express, jpmorgan, bank of america, those are the names that are beating the dow jones industrials. i wanted to get to verizon down 3.7% because they had to pay out serious bucks to buy out there part with a 14 year marriage with vodafone and verizon and finally had out $130 billion is
what they agreed to pay and it was more than people thought they paid but this is what the deal is and makes it the third largest corporate deal in history. that is a big deal, a 14 year deal but this is what verizon is doing to get vodafone out and get back to wireless. dagen: front and center for the market's investors worldwide and this country, syria. president obama hoping for prompt vote from congress on military action against that country. as the president meets with key members this morning to drum up support. rich edson is at the white house with the latest on what these meetings will accomplish. rich: meetings still ongoing at the white house in west wing, committee chairman, congressional leaders speaking with president obama and vice president joe biden about syria. president obama leaves for the g 20 and be setup to congress and the resolution he has given some, democrats and republicans looking to make changes.
was asked if he was comfortable with those changes and the president says he is comfortable leaving this up to congress. >> i would not be going to congress if i wasn't serious about consultations and the beating that by shaping the authorization to make sure we accomplish permission, we will be more effective. >> it is not a given that congress will approve this resolution. democrats and republicans all expressing reservations about this. congressional process begins later this afternoon when a senate committee holds a hearing at 2:30 in the afternoon the same panel holds a hearing tomorrow morning again and a house committee does so tomorrow afternoon. we expect to get some voting on the full house full senate some point when full congress returns next week and some news out of the region coming from fox news, the number of destroyers the u.s. had, there were five and now four. that is due to a regular rotation in the eastern
mediterranean. dagen: thank you for the reporting. it starts early this morning, rich edson in washington. lieutenant colonel bill cowan is a u.s. marine officer and fox news contributor joining us with his take from washington d.c.. good to see you, lieutenant colonel. do you think this goes through congress? the president can get all the democrats on board with what he wants to do? >> let me say one of privilege is to be on with you. i have not seen for a long time and i admire watching you when i can. i don't think the president will get what he wants. i may be wrong. he is meeting members of congress and will continue to do that. he may be pulling them to the sides saying give me the vote i want and i will give you a new this or that or post office but most of those members are going to come home with constituents telling them we don't want to go to war, we don't care, we don't know what the objectives are or what the plan is or what the threat is to our strategic
interests or national interests and we don't want you to do it so every member will want to get up and explain how he or she abhors the use of chemical weapons, it was a dastardly thing we should never accept but unfortunately today i am not able to vote with the president. the president will have a tough time. dagen: john mccain said rejection of this initiative, this strike on syria would be catastrophic for the president. the presidency and the credibility of the u.s.. do you agree with that? >> i am in the middle east every month and we have no credibility over there right now at all, most of the people i talked to cover virtually all the people i talked to from a number of countries watch us in egypt and are shaking their heads in disbelief. they remember how we walked out of iraq without leaving at least a token force to show our commitment to long-term democracy in iraq and there isn't any long-term democracy looks like. they see as walking out of afghanistan with no confidence
in american foreign policy whatsoever and if we do or don't strike we will strike awful weight if we do strike, just another indication we are pretty weak, we are not viewed with respect or fear. dagen: are you suggesting it doesn't matter what we do? >> this is so complex i try to listen to everybody's opinion and finally realized our national strategic interest, the thing we need to be concerned about is chemical weapons, not whether assad uses them but whether they fall in the hands of the people who are trying to oust him. there are a lot of islamists, al qaeda, people out of iraq we fought against before. a lot of truly bad people fighting against assad and perhaps overpowering the moderate forces fighting against assad. our problem is chemical weapons in the hands of the wrong people and being used against israel. whatever works strike we may take, evokes a response from syria, iran or hezbollah, we
could suddenly with no intent on our part be pulled into something much bigger, much greater and the israelis are not going to surround. dagen: if we don't do anything what does that say to iran? does that open the door? >> they are watching this carefully. the president said an hour ago we don't have a response to this chemical attack, we send a message that nuclear proliferation doesn't count. i am ok with the response but it can't be just a response that doesn't have some ultimate goal, not just slapping assad around, but what are we going to do once we have slapped around? we have not heard this administration clearly articulate that and we are a couple years behind the power curve. dagen: it was great to see you as always. we will see you soon. he is back. former basketball star dennis rodman arriving in north korea to visit his friend kim jong un. this is his second trip to north
korea so far this year and it comes days after pyongyang rejected a visit by a u.s. envoy who is hoping to bring home the american missionary who was arrested in november and sentenced to 15 years hard labor. speaking to reporters in beijing dennis rodman says he is not there to discuss his release. can we make a trade here? dennis rodman stays and the missionary comes home. maybe that is a deal. break of the checkbook, time to go back to school. a new report reveals major spending cuts have caused public universities to raise tuition, lie off staff and offer a sporadic class schedules. the report comes from the state high education executive officers association and finds between 2007, and 2012, 15 states sought full-time student funding decline nearly 30% with new hampshire and florida being fought hardest hit. 48 states have cut appropriation
since the recession. only north dakota, oil boom, and illinois have increased funding. oil prices are holding steady today. they are the few dollars a barrel on the syrian news. we have got a guy say it is not serious we need to worry about. we have your hot spots that could send oil higher and taking for control of the smart phone destiny microsoft striking at $7 billion deal with nokia. the 50 shades of gray movie founded christian in anastasia and you couldn't even guess if you tried to who got the part. take a look at how oil is trading, watching it suddenly high almost $108 a barrel. (aouncer) ottrade knows our clients trade
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role of anastasia steel plants charlie huntham plays jack keller, and starring as billionaire businessman christian greatly inspired casting. 50 grades--shades of gray announcing by twitter over the weekend and with over seventy million copies of the book trilogy sold the movie which will open next august is destined to rake in big bucks but the question is you know what? the leads don't matter, as long as they're good looking and make people get hot under the collar or hot downtown it doesn't matter. charles is sitting over here trying to stifle a laugh that he is here to make use the money. making money with charles payne. videogames and woodstock. you didn't read those books. charles: no i didn't. dagen: are you going to? charles: i will see the movie and hope i get hot all over. see if i get my money's worth.
see if i can take it easy. dagen: this might be a movie that doesn't do well as the box office because people don't want to be in a public place to watch it. they would rather be at home. charles: to deal with this microsoft, a lot of people wondering what is next in the hardware space that looks compelling, you made my glasses fogged up. dagen: and labor too. charles: that looks really compelling. i am not in yet but close, a i can tell you it has already made a 7% move, the last five years they were down 27% annually but three things turned it around. they beat the street at 10% consensus. what i like is management. we have a new company, we were too stuck on pc market and react and lost brand relevant and focus on the customer and product portfolio, that is an amazing thing for a company to it that earlier in the year and focusing tablet business doing
extremely well as a kissel fracking keyboard thing that doesn't tablet selling like hotcakes, folks with smart phones. we are seeing some sort of action in fa hardware section. a lot of people like me, i'm used to going to staples and seeing what the tech and thinking crappy stuff, they might turn the company around. won't get as hot as 50 shades of gray. dagen: you never know. hardware accessories. i adore you, thank you so much. quarter past the hour, stocks, jordan is buying. who would have thought yankee candle would be worth $2 billion. nicole: highlight the key candle but it is hard to see when something is worth it. you are talking about sales, baseball gear, mr. coffey, a variety of popular names under their belt and now they can at
yankee candle to that bunch. it is the $1.75 billion deal and it is interesting when you have a big deal, it may be to the downside. not in this case. it is up 6.3% so wall street is certainly feeling very comfortable with this move today buying a yankee candle. look at major market averages, dow jones industrials 14,900 and change, back to the 15,000 mark, everybody watching the i s and number that came in at 10:00 a.m. was good news, better than expected and the highest level since june of 2011. everyone is focused on friday, the monthly jobs report is so key and the other wild card like syria. dagen: thank you. take a look at the price of oil over the last month and up next you will need a guy who says it is not serious that you need to be worrying about. he will tell you what can make
the price of oil skyrocket. microsoft buying a nokia's hands that business for $7 billion. what this also says about steve ballmer's successor and world currencies, how they're holding up against the dollar today. ♪ make it happen with the all-new fidelity active trader pro. it's one more innovative reason
one minutes past the hour, fire fighters are thinking of cool and humid labor day for helping get a leg up on wildfire burning on the edge of yosemite national park. the fire went from 45% to 70% contained in one day. officials say it will take two weeks to get it fully contained. after years of delays and cost overrun the new $6.4 billion eastern span of the san francisco oakland bay bridge is open to traffic. the bridge opened last night in time for this morning's commute. the section of bridge it replaces was damaged in the 1989 earthquake. the fifth time was the time. the first person ever to swim
from havana, cuba to key west, florida without a shark cage. the 64y arrived in key west on labor day after 53 hours of 110 miles in the water. attempted the feat in 1978 at the age of 28. those are your news headlines on the fox business network. dagen: i love that story. i'd dare anybody to swim a mile and a swimming pool and see how hard it is. thank you. take a look at the price of oil today. it is hanging in, not skyrocketing, a few dollars a barrel since the syria news broke last week or so. that stock about rising tensions in syria. my next guest says you should worry about other hot spots? the president of lipperpower will associates joins us from houston. it is all consumed within the country and if you are not worried about this potential conflict what are you worried
about? >> good morning. the real issue with the oil market is what is going on in libya where oil production is down 80% since 2011. it is down 150,000 barrels a day and once again consuming it domestically. dagen: talk about our greater energy independence, shale oil, producing more this month in this country than we are importing so are we in position to withstand multiple conflicts or and supply disruptions in the middle east, and in the last 40 years. >> we are in a better position given we are producing 50% of crude oil needs, and in north dakota and texas. and more oil than iran, in
decades or whatever. dagen: what about the impact of syria in terms of spillover. prices have moved up some. and the next week or so in this country. >> the biggest issue with syria is whether it uses its proxys to damage some oil infrastructure. we have a number of large pipelines transiting across turkey delivering oil from iraq as well as the caspian sea and if something should happen in the strait of hormuz the oil market would not be able to stand it if we saw an oil tanker on fire. just a single one even if we didn't have a strait closure. dagen: you mentioned the supply disruptions in libya and we have to worry about iraq, and any potential conflict around the suez
canal. do you expect any of those
disruptions to clear up in the near term, to bring oil down significantly? >> i don't expect to closure of the suez canal. it is too important to the economy of egypt. take a wait-and-see attitude in libya, things seem to be quite messy. the argument over jobs, corruption, security at the ports in eastern and western libya, and we don't have a well functioning government. i think oil prices are going to remain elevated peer over the next couple weeks and await the outcome of strikes against syria and any ramifications. dagen: gas price is going to the cheaper winter blends shortly, that is good news for drivers in this country. >> in spite of the high oil prices there's a little bit of good news for the consumer because gasoline prices are going to remain steady over
the next couple weeks and begin their decline.
gasoline inventories are 8% higher than this time last year and the good news is we have had of quiet tropical storm activity season in the gulf of mexico. dagen: that is good news, we like it. thank you for being here. before he steps down, steve ballmer opening his wallet for investors' wallets, microsoft by nokia's and said business, $7 billion. what it means for the company, the future and who replaces steve ballmer and the deals keep coming after a month-long standoff, time warner and cbs burying the hatchet just in time for football season. here are some of today's winners on the s&p.
tesla motors just will not quit. it did trade as high as 173. certainly a lot of deals that we touched on this morning. connell: thank you so much, nicole. can microsoft put the heat on apple and samsung? elizabeth macdonald is with us. steve ballmer just made an important forecast about the merger. >> he set that to break for this unit, it has to sell 50 million smart phones this year. that is about what apple sells and one quarter. to get to the 50 million, it
needs an application. this merger still had a lot of homework cut out for it. whether they can deliver and pose a smart phone competitor to apple and samsung still remains to be seen. dagen: thank you. great to see you. rob, microsoft with its partnership with no kia has been able to gain some market share. i guess you can take a little bit more away from blackberry. >> there is definitely a shot. apple is weaker than they have ever been. apple is having a dispute with google right now. as you pointed out earlier, they
have a smart phone to bring out. it is unlikely that will be successful. they will be under a lot of stress. this addresses it directly. they definitely needed somebody understood microsoft. they get all three of those things. i think strategically, this is a good move. i do not think that they will recover this this year, but they are buying for the future of microsoft. dagen: if they get a strong patent pool with this acquisition. >> yes. they could have the strongest patent portfolio in mobile. a lot of them are happening in
the courtroom, not on the marketplace. dagen: also, what does this say about blackberry and its future? >> this puts more pressure on blackberry to find some large pool of money. now you have google, samsung, apple and microsoft all very well funded. blackberry is just not at that funding level. they will have to get creative. dagen: will apple pay attention to this deal at all? >> i think apple has enough problems internally. the bottom is, microsoft is a vertically integrated company. they are in a much better
position. a good set of resources. it will put pressure on apple's market share. dagen: rob, it was great to see you. thank you very much. house speaker jon banner design of a meeting with president obama. we will tell you about what he said about the u.s. military taking action against assad. we had to the cme to see if commodities can continue their bullish run into september. take a look at the treasury markets. the direction of yield and the selling in the treasury market.
2.89% on the ten year. ♪ [ villain ] well mr. baldwin... it appears our journey has come to a delightful end. then i better use the capital one purchase eraser to redeem my venture miles for this trip. purchase eraser? it's the easy way to erase any recent travel expense. i just pick a charge, like my flight with a few taps, it's taken care of. impressive baldwin. does it work for hotels? absolutely thank goodness. mrs. villain and i are planning our... you scare me. and i like it. let's go what's in your wallet? let's go if you've got it, you know how hard it can be to breathe and man, you know how that feels. copd includes emphysema and chronic bronchitis. spiriva is a once-daily inhaled copd maintenance treatment that helps open my obstructed airways for a full 24 hours. you know, spiriva helps me breathe easier. spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting inhalers for sudden symptoms.
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syria. speaking of those congressional leaders, house speaker john boehner was meeting the president. >> i will support the president's call for action. i believe my colleagues should support this call for action. we have enemies around the world that need to understand that we will not tolerate this type of behavior. dagen: joining me now is rich lowry. >> i think this is a very close call. you will probably get all the leaders behind it, but that does not mean that it will pass. you have a bout of democrats who are naturally antiwar and are
skeptical of u.s. intervention overseas. you will need a big number among democrats. another key factor is even if they are skeptical, they may at the end of the date decide we do not want to lodge a no vote that will be a blow against our presidency. dagen: is a very narrow and very targeted? >> you have democrats immediately rewriting the resolution. at the same time, you have republican hawks saying they are not sure if they can support this unless it is stronger and broader. dagen: where did that come from with the president seemingly cutting out his national security team?
it was shocking, really. >> it is bizarre. they do not understand why he is coming to congress. you had john kerry giving a speech that was clearly an imminent war speech. the president does not even consult him. the president may have blinked. there is a possibility that congress puts no and he is neutered overseas. dagen: is there more to lose if we do nothing? oh sod it, as you pointed out, supported by all of our enemies. >> i do believe that it is legitimately a close call. it is very important for the nation's credibility that we act in syria.
building up an opposition that you can actually trust to take over from assad. we are not there yet. dagen: how does this impact everything else in washington? we have a big october 1 deadline. does any of that gate kicked down the road? >> it would have to happen one way or another. the biggest item that i think maybe affect did is immigration reform. dagen: did he mention that one? again, the list grows by the moment. rich, it was great to see you.
thank you very much. a quarter till. martin newton is standing on the floor of the new york stock exchange. between now and then, it is syria. >> a lot of that has been put on the back burner until congress reconvenes. this friday will be the most important day of the week, i think. obviously, head of the implementation of obamacare, also, of course, the said meeting two weeks from now. can we see new job here? that will be what a lot of people are focusing on. we have a ton of fed governors
said to speak this week. the average loss is typically about 4.6% for the s&p. it will be interesting to see if this recent wobble in the market can hold or if we can see some signs of stabilization and rally. dagen: thank you very much. martin newton down at the new york stock exchange. sandra smith has the latest from the pits of the cme. sandra: gold over silly and a -- gold officially in a bull market. here we are entering september on a high note. both the metals are up again. the safe haven play is going on.
looking for a flight to safety right now. watching the copper market right now. we have seen industrial metals doing quite differently. lots of concern about the global market. precious metals. a big play there. as uncertainty heightens, they go into the precious metals. back to you. dagen: something, by the way, hedge funds finally outperformed the broad market in august. they were still down almost 1%. very interesting. after one month of fighting, make up.
cbs and time warner reaching an agreement. let's take a look at some of the nurse on the nasdaq. ♪ ♪ nascar is about excitement. but tracking all the action and hearing everything from our marketing partners, the media and millions of fans on social media can be a challenge. that's why we partnered with hp to build the new nascar fan and media engagement center. hp's technology helps us turn millions of tweets, posts and stories into real-time business insights that help nascar win with our fans.
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it finally has ended. who won? dennis kneale has the details. dennis: i think that cbs comes up as the bigger winner. cbs looks to be the winner because the monthly fee goes up to two dollars. every station group that is affiliated with the big broadcasters can say they want fee increases when the contract is up. there are 50 or more cable channels. that is within the next 60 days
or so. time warner cable has now carved out its crap asked by far the toughest cable guy. they are not holding prices down for anybody except themselves. it is just too much of a hassle. i do think it created major pirates. you did see some of the numbers overseas. that is just those isolated markets. dagen: football is back.
fifty shades of gray casting. she has a small role in the social network. she is on a fox sitcom. dennis: this will all be a matter of character. you care about the people, but also you need the woman to be exceptionally hot. i think the latter path may have been a better box office that. dagen: they are both attractive. i do not think you can go wrong with that. dennis: and handcuffs. dagen: they are making all three of these books. it will be straight to cable.
dennis: it is one of the worst books ever written. dagen: did you ever read it? dennis: it was not good enough for me to read. dagen: i do not think that dudes are reading it. dennis: i inspire books like that. before dude you really just say that? [laughter] dennis: was real tension there. the wrong kind. [laughter] coming up, dennis and cheryl casone will be talking about delays on syria. microsoft buying nokia's handset
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and don't get heartburn in the first place. [ male announcer ] one pill each morning 24 hours. zero heartburn. dennis: back together again. i am dennis kneale. cheryl: i am cheryl casone. delays over a strike in syria. dennis: it is what is bugging me. should governments help bill falters by new homes? we want to hear from you. p6 stocks and oil taking wild
swings. the president seeks congressional approval. we have rich edson at the white house. phil flynn is in the trading pits of the cme. we began with nicole petallides on the floor of the new york stock exchange. nicole: we are kicking off september in a new fashion. some of the traders have been watching the ten year very closely. we still remain with arrows. the dollar is stronger. oil and gold are gaming. we have seen financials and insurers doing very well. package foods have come under pressure. telecom has been among the
worst. we have seen a mixed bag of what we are seeing on wall street as far as economic news. friday waived for the all-important monthly jobs report. that will be key, as well. >> these markets, especially oil, are moving with every headline. over the weekend when president obama said he would put off an attack on syria, prices sold off dramatically. just recently when house speaker john boehner said he was on board voted for an attack on syria saying we have to send a message, on the gold market. look at the gold. the dollar is higher. gold and silver are rallying.
a possible strike in south america. a lot of the money worried about a conflict in syria. back to you. cheryl: we saw that last week as well. thank you to both of you. appreciate it. dennis: president obama saying he is confident that he can get congressional support on the issues in egypt. rich: just wrapping up a meeting at the white house. trying to push on that attack on syria. they are generally supportive of what the president had to say. if you look at the leaders, they, too, were on board. >> this is something that the united states as a country needs to do.
i will support the president's call for action. i believe that my colleagues should support this call for action. >> this is not iraq, this is not afghanistan. this will send a clear message not only to the saud regime, but also to other countries that may be interested in testing some of these international norms that there are consequences. rich: they seem supportive of this. there still are major question marks in both caucuses. still, you are sitting a number of republicans asking for more specifics. you have some democrats that are concerned with any type of intervention in the middle east. briefings continue on capitol hill. we have a hearing this afternoon
at 2:30 p.m. in the senate. we expect to have a vote next week when congress fully returns. dennis: thank you very much, rich edson. cheryl: we are up 18 points right now. john boehner said he did support the president's call for action on syria. as you watch all of this play out in the middle east and the president's response is getting support, is that a good or a bad thing if you will invest in that region right now? >> i think that the strike will ultimately happen. it will be a little bit more severe than obama wants, but will not change anything on the ground. we will still be talking about
syria in six months. i think didn't want to humiliate obama as much as he can. the region is plagued by the conflict. there is the conflict between the gulf states and the iranian access. cheryl: okay. that is a good long list of all the problems that are there. what we saw back in 2010 was french money. money that was going to invest in the region. at the time, the surrounding nations, that was you and i were there. we should say that the french still have interest in syria
that they are losing money on. can't we return? >> i think in the case of israel, they can withstand whatever is going on in the short term. their technology is so precise. their military is strong. the region can hurt israel a little bit, but not change. the hope was that the arab spring would create democracies. we solve the early signs of that in syria before egypt blue. i think you are going back to a secretary in conflict and i think the region is essentially on investable. cheryl: what you saw at the
time, what specific investments in israel would you make today? >> technology and military defense are where the israelis a call. if they do have a successful peace talk, their markets for peaceful goods will expand even more. as we stand now, technology and military are the strength of the israelis. cheryl: maybe it is a way to make a contrarian bets right now. let me ask you one more thing. we have these warships off the coast right now. the cost of this to the u.s. government, u.s. spending, tax payer money, taxpayer paying,
investors looking to defense stocks. what do you make of that? >> defense stocks will be under pressure for the foreseeable future as we take less of a commitment. i am not saying that individual stocks cannot have a good six month. the society will reallocate funds away from defense on a secular basis as we get our federal books in order. that does not mean that individual stocks cannot do well. cheryl: thank you very much for being here. appreciate it. dennis: what issbugging me?
the federal government meddling in the housing market yet again. the obama administration wants to create a mortgage market that is more forgiving to borrowers that lost their homes due to the recession. great idea. widen the pool of homebuyers finding people who already defaulted on one home by another only a year later with government help. have we gone mad? government policies pushed by both parties. now, we are at it again. the feds have guaranteed as many as nine in every ten new mortgages. if you defaulted on your home because of a recession, i am sorry for your pain, but i do
not want the feds bending over backwards for you to default on this one too. should government help the falters by a new home? cheryl: all of those cash investors will be really angry with you. cheryl: start tweeting now. another big story we are following today for you is microsoft. dennis: a former insider. is he the right guy? cbs and time warner cable finally settled that dispute. first, as we do every day at this time, let's take a look at the energy market. ♪
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there is another big story playing out right now on the dow. microsoft is down more than two dollars. that is 15 points. microsoft is a key story to washington. we will address that story a little later on. let's bring in nicole petallides. nicole: a lot to look at this tuesday. everyone is returning back to work after the summer holidays and such. we are watching another dow component, verizon. this is a deal with vodafone. this was a 14 year marriage between verizon and vodafone. it became more and more evident that they needed to break up.
they began to realize that they did not want the same things. expanding in europe was one topic of discussion. you can see this deal obviously executed and they are paying billions more than what everyone thought to arise and be paying. cheryl: thank you very much. appreciate it. ♪ dennis: happily, it is time to make some money with charles payne this hour. charles: i am stepping into your territory a little bit. [laughter] charles: i think it was bigger than a headline. you identify with this. one thing they were missing, i think is sports, talk. everyone has music. pandora has music.
how do you counter that? cumulus now has this sort of content that makes them different. the stock has been acting a. insiders are buying it. a huge technical breakout with a close above five. remember, this used to be $82 stock. the company has a lot of dead. dennis: a time when old guard broadcast companies are certainly on fire. over the last five years, a reason not to own a radio
stopped is because the internet will put it out of business. cheryl: especially in the case of pandora. these are companies that are fascinating. charles: cumulus has to get something that pandora cannot put out there. they even brought country music back to new york. they are doing things that are innovative. this may be the thing that revise cumulus. the stock has been acting great since this bill. cheryl: you got along very well. [laughter] dennis: thank you very much, charles payne. cbs back on time warner cable systems. a special deal on media is next.
cheryl: thanks god the u.s. open was back on cbs. as a go to break, take a look at the world currencies. you definitely want to watch these. the dollar continues to fight for its life against the euro. ♪ [ male announcer] surprise -- you're having triplets. [ babies crying ] surprise -- your house was built on an ancient burial ground. [ ghosts moaning ] surprise -- your car needs a new transmission. [ coyote howls ] how about no more surprises?
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♪ >> 22 minutes past the hour. i am patty m brown. forty-five others received five years in prison for assaulting troops and sabotaging armored vehicles during last month's riot. firefighters are thank you for a cool labor day. officials say it will still take more than two weeks to get the blaze fully contained. dennis rodman is back in north
korea. the former basketball star said his latest visit is just a friendly gesture and he would like to start a basketball league there. ♪ dennis: cbs is back from black out and now back on the air. this after a month of art this. joining me now with their take -- let's get to the important part. both sides here to acquiring victory. only one side could really win. >> i think cbs is the clear winner.
having said that, i think the final resolution was somewhat a compromise outcome. i think they got probably double the per monthly subscriber fees that they were getting. timetable, on the other hand, it was a major outcome for them. the odds were against them. i think that this is definitely from an analytical there. both parties can at least point to something for a positive in this. >> that is why we see both shares up. dennis: cbs has been more than twice. and, you figure the nfl played some kind of role.
>> nbc, they put billions of dollars to air the national football league. it is the top-rated entertainment programming in america. if you are cbs, you need to recapture that money. you are not espn. retransmission fees look like they will just keep going up. let's talk about what happened next. it seems to me that every station group in the country will go to their local group and say they want to double in the next few years. what do you say? >> i think you are right in the sense that this deal will embolden a lot of other local
stations to ask for more money. that is already happening, dennis. we are fearful of what we think will be a backlash. you have several other major deals come down. dish and disney will be in another negotiation towards the end of this month as the deal expires. i think what has happened now is a paradigm shift. the content has never been stronger in that ecosystem. distributors are really playing this game. if this happens to time warner cable, what about the, you know, dozens, if not hundreds, other cable operators out there that will be facing other content providers. i think the odds have really shifted for the content providers. dennis: okay.
one reason the fec did not step is because they do not have a lot of authority over cable systems. they have tried. they have lost three court rulings. now, time warner cable is saying we have to bring in these broadcasters. we have to go to congress. >> john mccain has advocated an à la carte model. clearly, sports is driving a lot of this. it is not fair to those that do not watch sports. that is probably 70-80% of america.
clearly, sports is eating up a bigger and bigger portion of the cable bill. at some point, you would expect them to finally step into this. dennis: often, they mess things up when they step in. >> at the end of the day, i think the guys recognize that it is free market negotiation. however, with the 12 prices rising at multiple rates over inflation, i think this will probably force the hand of regulators to at least begin to revisit some of the regulations that have been out there for several decades. the issue is not win, but how far do they kind of push those. right now it seems to be somewhat favoring broadcasters
like cbs. dennis: okay. the cost of cbs could be when the fec and congress start stepping in. both sides could ultimately lose. it could just destroy the cable industry. thank you so much for being with us today. nice job, gentlemen. >> thank you. cheryl: it is the fox business all-star showdown. we are at the halfway point. at this halfway point, let check in on how robert and scott are doing. first off, they loved etf's this round. robert just pick the one stock on august 16. scott chose the 20 year treasury
short. both lower since they picked them. scott has put up -- not big winners. one of these men will move on to the championship round. at this point, it is anybody's guess what will happen. scott martin is only down 1%. still two weeks to go here for these guys. keep watching to see who wins the fox business all-star showdown. let's talk about leadership of microsoft. will there be a new ceo? we have an analyst coming up. dennis: should government help defaulters by new homes? first, take a look at some of the s&p winners and losers.
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connell: dow pillaring gains after john boehner and congressional leaders signed with the president on taking action in syria. microsoft buying the handset business but is it also buying the new ceo? panelist on that had and what is bugging me but this did but you? should government help defaulters by new homes? your answers coming up. time for stocks now let's go to nicole petallides the floor of the stock exchange. nicole: you mentioned that the top of the show we watch the market that took off on the idea that president obama would have to seek congressional authorization before taking military action against syria but it was followed by
congressional leaders who now indicate support for president obama and nearly can of of the highs at the highest debt at 14,933 yen you can see over 100 points off of that high and we lost ground with i want to look at some movers. united technology leading the dow jones industrials and jpmorgan, decker's which makes all foods now, tom brady of the nfl as one of their spokespeople, nokia a big deal, cbs on time warner, and aig 0 winner for all the f is another
today. cheryl: if you look at the revenue picture revenue is cut in half. is that the case for him to leave microsoft? >> to be fair he came into a difficult situation. at the time nokia had missed the smart phone revolution and peace tempting right about that time so it was difficult to make up that ground. i don't think that should turn against him. he made some changes to adopt the windows phone ecosystem and revenue continued to slide but he was up against tough competition android and iphone. cheryl: you have samsung and apple and microsoft only has 3%
of the market of handsets so they have a long way to go. at the same time if you look at nokia's revenue projections they might be down further so did microsoft agreed deal or did it make a mistake, and abetting the nokia would save them in a new hand said business? >> that is a great question and when you look at their past history microsoft certainly hasn't had a great history with acquisitions but we think strategically this is very important for microsoft so the first thing this does is gives them control of the entire smart phone value stock. they have hardware and send to the apps store so that is one of the big things, the second thing removes a lot of uncertainty around microsoft and nokia partnership. a lot of apps developers believe we are having trouble believing nokia would support the windows phony the system for too much longer so this puts it in hands that are at least financially capable of pushing this along and the third thing is it makes this partnership, makes the new
phone more nimble. the way we thought about it before was two farms were trying to run a phone system and it was pretty difficult and this helps. cheryl: let me ask about the patents because not just the service side of the business but the handset and the patents. is that when microsoft and do something positive with to impact revenue? at this point the deal is closing first quarter of 2014, that is not a lot of time for microsoft to absorb all these employees, 32,000 employees but also got to deal with nokia's revenue slide. >> exactly right and patents are very important part of the deal. actually when you think about it a lot of what microsoft, the money they make in their phones right now is from intellectual property licensing and android uses microsoft pants and we think nokia patents offer a little bit of value. cheryl: very good point. one analyst was saying microsoft
got a great deal. do you agree? >> i don't know they got a great deal but the big thing is what they paid was 10% of the cash on their balance sheet and 90% of their catches oversees the they don't have to deal with repatriation taxes. cheryl: i want to make clear to our viewers, to absorb that. go ahead and finish your thought. >> exactly right, $7 billion and before they were paying a one billion dollars a year to support the partnership so they're bringing it in house and have more control of their destiny. in that perspective, strategically it was probably a pretty good deal but the biggest problem is execution and we will see over time if microsoft can make this work. cheryl: they need to make this work. we can all agree on that. dennis: cyberbacklash from syria, the syrian electronic, targeting the u.s. marine
recruitment web site. the latest ahead. cheryl: in the west coast minute the city with the dubious honor of having the largest rent increases in the u.s. year over year and is not a california city. [ male announcer ] how do you get your boce? i'm, like, totally not down with change. but i had to change to bounce dryer bars. one bar freshens more loads than these two bottles. i am so gonna tell everyone. [ male announcer ] how do you get your bounce? [ woman ] time for change!
support for u.s. military action syria. checking the dow industrials they are up 11 points. u.s. manufacturing activity grew at the fastest pace in two years in august on a jump in orders the institute for supply management index rose unexpectedly to 55.7 in july, best figure since 2011. any reading over 50 indicates manufacturing sector is expanding. ford recalling 370,000 cars due to corrosion problems. they will inspect cars including the 2005-2011 astoria, markair -- mercury grand marquis' and lincoln town cars, 355,000 recall, there in the u.s. the rest are in canada. ford says no injuries have been reported. that is the latest in a fox business network.
assad activist group targeting u.s. marine recruitment web site over the weekend ended an average to dissuade u.s. military action in the region. marines.com users were redirected to a page plastered with anti intervention messages from individuals dressed in u.s. military uniforms. this following major cyberattacks by the same group last week against the new york times and twitter and huffington polk and joining us from washington mike rosen of cybersecurity and tom kellerman. it seems if our government does decide to retaliate in syria, that these syrian electronic army guys are going to go while. why is it even after these guys have cracked into a dozen media websites, how did they continue to get access? why can't they stop it from happening? >> many of these websites are not secure with regard to how they insulate themselves from these types of robust stage
attacks. you need to comprehend the allies of syria, the syrian electronic army are allowing them to download the various cyberweaponry that allow you to bypass the fire walls and the encryption use to protect these sites as well as allowing them to target more particular new ones, not just websites that back end net works. what we need to worry about is not just the sight the being redirected to information pages but whether or not they are used as watering holes to attack anyone who visits those sites that would download articles or any sort of material relevant to the conflict itself. dennis:@was to reach out to marines and they don't fight for your country, don't attack syria never mind they took over or redirect a site named that new recruits, people who want to apply to be in the marines, not guys currently serving so you wonder how much each active that is. but overall if we do attack and attack her counterattack in the u.s. to aaron for stricter systems, in your view are we
prepared for that? >> we are not prepared for that and the reality in modern-day conflicts will be you will see a manifest base of cyberwarfare and cyberespionage before, during and after those conflicts, and appreciate russia, iran, hezbollah, very cybercable as evidenced by deployment of the intelligence gathering vessel in the mediterranean by the russians recently and if they are going to assist with the level of reconnaissance as conducted in the chemical real world they are probably assisting them in the cybercontext as well. dennis: if you look at the worst week on surveillance that came not from hacker or those guys but from an american, ed snowden when he was employed at bose alan. how do you protect against outside is if you are not even good at protecting against leaks by your own insiders? if you advise the white house right now if you weeks in advance of a missile strike in syria, is there anything they can do to start bulletproofing
these systems quickly? >> i wish there was but the white house has very little influence in protecting corporate america's infrastructure, and very few of them taking cybersecurity beyond investing in fire walls and encryption. i would suggest to your viewership, it is part of your operational risk-management strategy in today's context and brand name u.s. corporation need to -- from nation states who may target you by your. e of political dynamics going on in the world. dennis: sounds like a great sales plug for your company but also makes a serious point and you got me worried. thanks for being with us today. >> happy to help. cheryl: time for stocks with a couple moments ago the dow when negative for the first time in today's session, we were up 2 points, let's go to the stock exchange of gray wolf execution partners. what is happening?
>> we do get a little bit of a bullish pattern before and after labor day but that seems to be quickly fading. august is down 4%. what is interesting is defensive sectors didn't participate in the rally and offer any sort of safe haven. those have been huge laggers when you look at utilities, consumer staples and that has to do with interest rates in the rise that have been rising, and that does affect these the offensive sectors. cheryl: the other half of what we have seen today, house speaker john boehner came out and gave the president is support on a military strike in syria. is that not being factored in? >> tough to gauge what effect, a lot of people thought the market would bounce after the strike had started and we had a delay regardless. is anybody's guess if you can really in the ads and flows of
the market on comments from john boehner. everybody is still trying to get a grasp as to what exactly is going to be done here. the majority of the public is in favor of at least a limited strike based on the fact that something was said. but we will see if we could at least gauge, leavitt at that. cheryl: there's a whole discussion there. thank you, appreciate it. time for your west coast minute. facebook, the first-ever social network for cops as they go live next month, l a police chief bill brandon behind the blue line, the new site and nation, abetted by some things like crime reduction, and gang violence, improve community relations, fun things, the site is being tested in los angeles with 100 officers. seattle has the highest rent increase in the nation, rose 0.6% year over year, faster and higher than 81 other major u.s.
cities. and intense demand for apartment rentals and finally the state of california spent $1.2 billion on new jails. the problem is not one new jail has been built with the money. in 2007 funds were allocated to address overcrowding but according to the sacramento bee, not one county has finish construction on one building that alone an entire complex. 150,000 prisoners were released in 2012 because of lack of space. that is your west coast minute. >> a great example of government taxpayer dollars at work. what is bugging me, i want to hear from you. in government-held the falters buy new homes? tweet me your answer coming up. cheryl: dream of living in florida, coming through after 35 years. [ male announcer ] imagine this cute blob is metamucil.
and this pk is the inside of your body. see, the special psyllium fiber in metamucil actually gels. and that gelling hes to lower some cholesterol. metacil. 3 amazing benefits in 1 super fiber. metacil. nascar is about excitement. but tracking all the action and hearing everything from our marketing partners, the media and millions of fans on social media can be a challenge. that's why we partnered with hp to build the new nascar fan and media engagement center. hp's technology helps us turn millions of tweets, posts and stories into real-time business insights that help nascar win with our fans.
dennis: you know what is begging me. should government-held be falters buy new homes? hear your comments? gus says hello, no, if one person default government does nothing. if thousands default government feels they must act. dennis says yes because if they have a home they will pay property taxes and higher landscapers and painters. he doesn't mean it and dog grandma who calls herself eleanor roosevelt says the government doesn't help anybody. takes what belongs to one person and gives it to another. it is legalized theft. mama bird says absolutely not. life is tough, get a helmet.
pretty good advice. cheryl: diane dreamed of swimming from cuba to florida for 35 years and finally on her fifth attempt the sixty-four-year-old completed no 110 miles from this weekend. >> we should never. you are never too old to chase your dreams. cheryl: hundred of people lined the beach to welcome her after 53 hours swim. dennis: that remember reading about that and thought she would never do it. cheryl: i hope she comes of of something else to do. tough new york lady. want to mention that. so much for a holly jolly christmas, this holiday season, will cost you a lot more. tracy and adam on the stealth fighter and heating oil is jet
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ashley: i am adam shapiro. tracy: making the move for a strike against syria, syria is not iraq and what he proposes will be a limited proportional step. reaction from capitol hill and the former head of counterterrorism for m i 6. charles: rob: the index wait out america's response to the serious situation. we will also wonder if the last jobs report before the next fed meeting will make this a september to remember for tapered talk. l.p. financial is here with what he expect. tracy: the financial capital of the world and muni apital of
the country, charlie gasparino on what this year's mayoral race means for the budget. it is time for stocks every 15 minutes, we head to the floor of the stock exchange, nicole petallides. nicole: doing really great, back on wall street, everybody coming back from holidays, summertime, labor day, day week this week but we're seeing a mixed market, dow jones industrials pulling back while the nasdaq index in peer looking better, of arrows, the tech savvy nasdaq looking well but microsoft is something that has been weighing on the dow jones industrials today on news the deal with nokia flying high 30%, microsoft pulling back 6% on this deal, $7 billion deal in order for microsoft to acquire devices from nokia for that cellphone company and also brings in obviously another player who could theoretically suee