tv After the Bell FOX Business December 4, 2013 4:00pm-5:01pm EST
analysts upgraded it but we have had the ceo here every single quarter practically talking about their plans to expand. david: nasdaq did it, let's see if they stay positive. the closing bell on the exchanges. they are close to staying in the positives. hanging on. the negative figures have improved quite a bit from where they were. such positive news that sometimes positive news on the economic front is bad news in the market because w they're worried about the fed tightening. today positive news was viewed as a positive indication for the market and generally that is good news but so far only the nasdaq was able to squeeze out any kind of gain. liz: let's get to that and the details of it, the fed saying the economy is growing calling a modest to moderate pace. saying there are particular
signs of economic activity in the auto and tech industry specifically. david: company hiring rose the fastest pace in a year. showing a gain of 215,000 jobs last month. the data coming out a couple of months before friday's job report from the labor department. liz: the rate of growth in the services sector of the economy slowed. saying nonmanufacturing index slipped. david: sales of single-family homes surged the most in more than three decades in october. commerce department reported sales soaring to a seasonally adjusted annual rate of 444,000 units. liz: the trade deficit narrowing as exports hit a record high. picking up in global demand that could help boost american growth in the fourth quarter. david: and falling of the fda
revealed the company recalling 1400 robotic surgery systems because of concerns the devices could stall and that was bad news for the stock. "after the bell" starts right now. liz: i could say this was massive action but if you're just tuning in and look these numbers are not that great, we were way lower but also way higher. let's break down the market action. portfolio manager who doesn't expect to taper anytime soon despite the strong adp report. what it means for your investment and todd horvitz. what interesting market behavior today, as we went into the 3:00 p.m. eastern show we had crossed the flatlined, so tough to find direction. >> it was like a big soap opera today. they laughed, they cried, they
took them down, they took them up. closed around the flatlined. the market is very volatile, everybodeverybody's pointing toy jobs number. all the other news, really not where we are focusing. everybody is focusing on what they say with the jobs number and what we get next week. but the bottom line is they are not going to taper, they'r theyt going to be able to taper, but take a look at the 10-year bond. 2.85 they traded is today. the bond market is taking over, saying we want interest rates to go higher, and they are going higher. david: i have to ask you, they have a mandate, employment mandate. they don't have a stock market mandate, if employment improves, how can they justify continuing without a taper? >> today is a great example of what we will see for the next
year between economic data and taking some of the stimulus out. david: specifically if the numbers on friday come out, the november jobs numbers come out very strong at least as strong as adp numbers today, how can the fed justify continuing without some sort of a taper? >> you look at the other indicators, employment or manufacturing. inflation appears very tame. for the moment using my trip policy has not had a negative effect on the economy. liz: let's talk about investments at the moment. we have seen very positive for the entire stock market. how much longer does this sort of throw a dart at a stock chart and hit a winner game last? at some point stocks will become fully valued or little more expensive. >> we are probably fully valued, but are now getting the retail
investor back in. mom and pops after the five years are coming back and the market. i think we are probably within a couple of percentage points of a near-term high. whether or not we sell off higher i cannot tell you, but i would be looking at some sort of a correction. we are starting to see more money flow into the safer asset classes, dividend players. the market is probably peaking here, but it looks like we look to be resting and i would look for more of a correction right now. david: it is certainly slim pickings in this market, but you still say there are pockets of opportunities. where are those pockets? >> we don't buy the market, we buy individual stocks, individual companies. we are finding cheap companies around the world in industries with competency. for example media is one area.
globally these are companies with recurring revenue streams. good management and friendly policies. liz: liberty global has every sort of german gigantic cable operation plus virgin media, the big story of 2013 when it comes to that global acquisition. how do they continue to grow this company? already quite huge and this stock is already at a year to date high. >> very good growth in europe take advantage of broadband growth across the continent. again i'm back a lot of stocks. taking advantage of the low rate environment to by other companies as they did with virgin media. david: a security monitor called adp. you are sticking by that firm even though did not pay off this
year. why are you standing by it? >> visiting spun off from tyco, this is another recurring revenue business following the same path as directv leveraging up at low rates and buying back their stock. -@david: they did not pay off ts year, you expected them to. why didn't they pay off this year? >> there is this new growth opportunity in home automation to turn on your lights, turn on your heat, unlocked doors and adp is a leader in that. some of the hardware companies as well. there is a potential for some competitive pressure to commence this market. the market is worried about it. liz: looking at the volatility index which gave people a little bit of conversation yesterday
because it touched 15 and pulled back, but we're still seeing it in the high 14. does it continue to be a great indicator of when people should buy and sell stocks? >> it really derived from the options trading and when it is going down people are selling options which means they are comfortable and complacent which they think the market will continue to go higher. it is really no reason to panic. not even above the 200 day moving average. you can start saying you know what, maybe people are becoming concerned, but a little bit of a pop in volatility. remember over the last week, we always close somewhere near the flatlined. down about 1% from the top. david: sticking with you, what about the holiday shopping season. shaking their head say this is
the worst we have seen, any reason to panic on holiday shopping numbers? >> i think you have to sell retailers. this will be an ugly season and more than the lack of margins. when they start reporting earnings next year, the fourth quarter could be a disaster. they are working on tight margins if they are making profits at all. i am very concerned about the retail trade here. i think they are in a lot of trouble. liz: the biggest indications before black friday was best buy saying we are worried because walmart is coming in with unbelievable door busters saying we don't care, we're going to cut these down to the bone. you say that continues, and then will they be better price after the first of the year to skip some up? >> i think they will continue to lower price. they're more concerned as it is more like what we're trying to do with export. they're trying to get rid of inventory and raise cash. at the end of the day if they do
not show real growth and make money, they will be refreshing the stores. liz: we will come back to you shortly. great to have you. david: a barrage of the economic data has a worry if ben bernanke is going to watch the taper before the end of the year. we will get a reality check of what all of the latest could mean for future fed policy. liz: have you heard? the little engine that could. highly competitive business, they have all the buzz. the expansion plan and may be a possible fbo? david: that takes us to the question. which would you rather buy? log on to facebook.co
facebook.com/afterthebell and let us know. your answers after the hour. [ male announcer ] what if a small company came big business overnight? ♪ like, ally big... then expanded? ♪ or their new product tanked? ♪ or not? what if they embrace new technology instead? ♪ imagine a company's future with the future of trading. company profile. a research tool on thinkorswim.
a research tool on thinkorswim. every day we're working to beand to keep our commitments. and we've made a big commitment to erica. bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than any other place in the world. in fact, we've invested over $55 billion here in the last five years - making bp america's largest energy investor. our commitment has never been stronger. david: one of my favorite products online, pandora's unionized romp after november
listener hours. othe floor of the new york stock exchange for details what is happening with pandora? nicole: your evidence of what we are seeing for pandora. people listening to it love it. they are listening to it more. more listeners, more hours. this is great news as it continues to gain market share in the listening arena. the stock up today over 220% for the year, 2013. certainly trumping the competition of problem. apple and net radio service not a competition for them. pandora up 18% year-over-year on the listening hours to 1.49 billion. so that is huge but don't forget they pay a lot for content, sales, marketing and royalty costs. david: apple is nipping at their heels.
liz: todd is watching the action. >> we have gdp. all eyes focused on the jobs number. betting on what they will do next, the fed meeting. they are all betting on what they will do next week at the fed meeting after they see the jobs report. liz: fox business will have it the second it comes out. david: we will have to wait for friday for that but today plenty of good news for housing, a pretty rosy picture of economic recovery. can the fed avoid tapering even at the risk of sending the stock market south? joining us, the investment group cofounder, always a pleasure. let's take a look, all of this
economic news, the economy continued to expand, we will put this list up on screen. manufactures expressed optimism in many districts, professional business services said they have moderate growth, volume of strengthening, retail spending was positive, real estate activity improved and hiring show modest increase. what you make of all this news? >> mild to moderate. what we saw today was positive but if you're looking back we track the economic data, and more reports are still coming in weaker than expected. for an economy that continues to underwhelm expectations albeit they are not that high to begin with, we don't see the fed in too much of a rush to pull things back. david: the fed has a mandate for the past several decades to monitor unemployment and that is what is supposed to look at.
friday's numbers, looking good, as good as edp numbers, how can they possibly justify continuing qe without some sort of a taper? >> we will see what the report looks like on friday. david: it gave us a little preview. >> it is not a perfect reliable indicator. david: if it is very good, will the fed be forced to taper before the end of the year? >> i don't think there is any chance. david: the law says you guys have to monitor unemployment and if an opponent continues to be good, i don't understand how they can justify without tapering. >> 's employment good? still over 7% unemployment. the other thing to remember is inflation people are worried inflation, every economic indicator regarding inflation
has come out the last month weaker than expected. in a report earlier this week report was much better than expectations. the only proponent was prices paid. david: to your point, clearly there is a lot of uncertainty still out there among businesses. the fed beige book report talks about this in particular obamacare, contracts and many businesses voice voice concernsf future cost increases attributable to the affordable care act. businesses are worried about all these rates. >> as we will see the volcker rule, companies regulated, they don't even know what will be in the final rule yet. there may be restrictions on proprietary trading, hedges stronger or more strict than what people were expecting.
to not know the law that is going to be supposedly. david: not having clear laws, one of the founding fathers the president love to quote the founding fathers, james madison looks like he was talking about what we are having, what we are experiencing. but to avail that the laws are made by men of their own choice if they be so voluminous that they cannot be read or so incoherent that they cannot be understood. that they be revised or repealed or undergo such incessant changes that no man who knows what the loss today can guess what it will be tomorrow. it sounds like he is talking about obamacare. >> it is like nostradamus. that is exactly what we're looking at. david: it is what the founding fathers warned us about, that is why we had a revolution to prevent laws being created like the ones we are creating. >> the merits of them tapering
or not tapering can be debated at another time. our view is what is going to happen. you want to leave your opinion and your views on if it is right or wrong out of it and focus on what is going to happen. david: we took a quick jump to pull off, but i want to bring it back to economic policy. do you think eventually because of all of the problems with obamacare we will get back to a more rational strategy regarding policy? >> you hope so. the market freaks out with stronger than expected data point. that is what most people would like to see the fed out of it. it is just a matter of when that will happen and we think it will be later rather than sooner. david: great to see you, appreciate it. liz: as we countdown to christmas, will stock see a santa claus rally that perhaps goes through january?
saddling up the reindeer and he will tell us the best ways to play this market. david: and if you can't afford a tesla model s car, there is a cheaper alternative. when we get back we will talk about in automaker cutting the price of its electric car. wait until you hear this. ♪ dentures are very different to real teeth. they're about 10 times softer and may have surface pores where bacteria can multipl polident kills 99.99% of odor causing bacteria and helps dislve stains. that's why i recommend polident. [ male announcer ] cleaner, fresher, brighter every day.
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david: welcome if you own disney stocks, we have a little story for you. they've increase the annual cash dividends by 15%, that means extra $0.11 per share. $0.86 per share. dividend payable on january 16, this is the 50th consecutive dividend payment to shareholders to a nice little gift from disney and company. the good news. liz: lawmakers debating the healthealth care law on capitoll today a day after president obama kicked u off a three-week public relations blitz to promote the plan and generate more participation. david: will be botched rollout of healthcare.gov keep americans from signing up? a busy day on obamacare inside the beltway. >> when you look at what is going on in washington especially with the obamacare numbers to administration makes the case the obamacare website problems have lowered enrollment numbers and a person familiar with the enrollment number says the administration declared november 1 or november 30 website was working for the
majority of americans some 29,000 people were able to enroll in those first two days. republicans say those numbers are still way too low when you consider all the americans who have lost their assurance plan because the health care law them out. in a statement responding to those numbers says the system needs to be able to handle not only previously uninsured americans and rolling in the policies are canceled by the president's new health care law. president obama talking what income inequality continued selling his loss. president obama: it needs to work. [applauding] and as people and states as different as california and kentucky sign-up every single day for health insurance signing up in droves proven they wanted that economic security.
>> in order to work you need young, healthy people to sign-up. in this study shows they are not all that inclined to do so. 13% will definitely an role in care, those uninsured, 60% of whom uninsured say they probably will. of that, 57% disapprove of obamacare and 40% say the law will worsen health coverage. back to you. david: oh, boy. rich edson, thank you very much. liz: david. david: a quick speed read of the other headlines. five stories in one minute. the total return fund by the legros recorded seventh straight month of outflows. investors pulling $3.7 billion from the mutual fund last month bringing the total amount withdrawn so far this year to $36.9 billion. walmart in well paying fees for the corruption investigation. the investigating if walmart
bribes in mexico. mr. bc /in the price of their car by $6000. before federal tax credits and other incentives. the eu fines six institutions a record $2.3 billion for rigging benchmarks. including deutsche bank, world bank of scotland and citigroup. and another big-name red sox player trading his boston boss m to join the new york yankees. jacoby ellsbury is reaching a seven-year deal with the yankees worth $153 million. $22 million per year. that is a lot of money. liz: go indians. stop. they are always laughing at me. keeping up has always been expensive and a little bit laborious in the process. but new college pals creating buzz by bringing fashionable chic glasses at affordable prices.
coming up we are talking to the cofounder neil blumenthal on their expansion plans and how they're going to take the world by storm. david: and while the market has closed lower over the last four sessions could stocks be set for a little bit of a rebound, a little bit of a pullback? we talk to why he thinks the market will resume their rally and now is the perfect time to get in. he will tell you where to get in coming up. clients are always learning more to make their money do more. (ann) to help me plan my next move, i take scottrade's free, in-branch seminars... plus, their live webinars. i use daily market commentary to improve my strategy. and my local scottrade office guides my learning every step of the way.
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♪ because during the holidays, keeping your identity protected means keeping your family protected. liz: time for a look at today's market drivers, the dow and s&p, yes they extended losses as investors weighed the outlook for the federal reserve to scale back its bond-buying program. dow jones industrials though crossed the unchanged line 36 times before finally setting slightly in the red. consumer staples and telecom led the decline. new home building. october surge was the biggest monthly increase more than 33 years. good news in the housing market. adp reported that the private sector added 215,000
jobs in november. that surge in job creation beat economist estimates of 173,000 new jobs. strongest month for private job growth so far this year. stop. david: you know the only problem with these sunglasses i can't see a thing without my regular glasses. we have a segment coming up on these. i have to put these on. following earlier gains on upbeat housing data, the dow and s&p 500 fell for fourth day in a row on taper worries followed by stronger than expected private sector growth in jobs than that's good. liz: should investors be on the lookout for a continued rally ahead for the christmas season and beyond in the new year? we have investorplace.com jeff reeves, not wearing santa hat. you're feeling quite optimistic. is this all fed driven or please tell me there is something else? >> i think there is seasonality is here. it is true that the market pulled back for four sessions.
maybe there was too much tryptophan in the turkey. people took a little nap and i think people are ready to get back in the saddle. there are nuances and always risk and you need to be responsible. when you ask me whether to get in or get out. i say get in. i think the rally will have strength in the next 30 to 45 days, particularly because the strength of december broadly and all indicators are pointing specifically up at this point in time. david: jeff, if the indicators are good, the chance of an earlier taper by the fed is also good and that's why interest rates spiked today. i say spiked, they weren't up tremendously but six basis point gain was worrisome to investors, at least for the most part of today. isn't that a concern to you, that interest rates are going to go up? >> well, i believe there's a kind of a disconnect between what investors think is going to happen and what actually will happen. as we saw in november there was a pretty big rally. january yet yellen took the stand in congress basically said she would be accommodative, and
policy at the fed would be easy even after benchmarks are hit. those were her words. i know good news is bad news because it might be the end of taper, but nobody is saying sometime in january we'll see the fed fund rate will be raised by a full percentage point. david: point is rates are rising irregardless what the fed is doing or just a suggestion the fed might taper. >> that is true. that also happened earlier this year. we saw kind of a rise in the summer. it is true long-term bond funds took a hit but across 2013 we didn't zerotation out of the stock market. one of the important things people talk about the great rotation. we're seeing a great floatation with everything. it is importance for the bond market but i don't think it detracts from the strength in stocks with multiple expansion, investor inflows, i think there is important story there separate from the narrative about bond and tapering. liz: what will float higher? you don't buy every sector, correct? which sectors do you feel are
the ones to salt the money in right now? >> if we want to talk about nuance i think the market in general will go up but i think people need be r to be responsible. tech is frothy. valuations are high. really stretched. it is prudent to look into the sector best of both worlds. if things don't go offer to the races you have decent dividend. i like chemicals a lot. huntsman trades attractive pe for about 10. doesn't have a big of a dividend but has good upside potential after restructure during the great recession or go with big guys bike dow chemical and dupont. they have good dividend and stability. if we see a cyclical recovery, if we continue to see the uptrend, chemical stocks are unsexy and make dice for the automotive industry. they will have more customers, bigger sales, bigger dividends. think this is the best of both worlds. it is a bit defensive but gives you upside which the economy
hums along which i think it should next three to six months. david: you think tech stocks are overbought. you're not alone there. we put up the spdr fund. are there any solid bets in tech or has everything been bought? >> i think broadly as market continues to rally there is opportunity to slip jabs on buyback. i'm not buying hp now but i'm looking at one of these companies eclipsed by red hot runs we've seen in facebook which is pulling back and twitter after its ipo you can look at big tech. enterprise spending has been soft but if you want to look were the money is going to go, maybe company like oracle and ibm will have a good 2014. let's be realistic, i don't think facebook will have another 60% in the next six months. >> saw new home sales, hit it out of the ball farc, best in several years. do you feel that way about homebuilders or home materials which we were talking about yesterday because lump biris dropping in price? >> i like builders a little bit. i tell awe odd play.
i'm bullish on auto stocks. bullish on auto stocks next year mostly because of the pickup sales. big redesign for pickups of gm and ford. gm is doing another relaunch in 2015 with the heavy-duty line. it's a little bit of a stretch. if you think about it, working jobs, not like office jobs you and me sit in front of a computer, people have a truck for work there is business there again for these people. they're seeing much more activity or doing tile for people's bathrooms or flooring. there is demand there they haven't redesigned gm or ford trucks in a while. think these are high margin items for gm and ford to sell. i think they will see big domestic demand as the contractor business recovers. not a direct play per se. i like autos generally. that is one. tools, gm or ford. david: investors place.com jeff reeves. liz: very cute. here are mine. can you imagine buying a pair of chic eyeglasses, including
prescription lenses under 100 bucks? david: really? liz: doing good at the same time. corporate conscience coming up. we'll have the parker founders just how they are doing it. david: unbelievable. they are expensive glasses. spotify meanwhile, have you ever heard about exactly how much they pay for some of their propertys? it is pitiful, pathetic some would say. dennis kneale will at details coming right up. ♪ as a busess owner, i'm constantly putting out fires. so i deserve a small business credit card with amazing rewards. with the spark cascard from capital one, i get 2% cash back on ery purchase, every day. i break my back around here. finally soone's recognizing me with unlimited rewards!
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now this is a company, if you haven't heard of them, revolutionizing the way you buy glasses an helping needy people along the way. it's a perfect holiday season. we've got commerce. we've got heart. joining us the two guys at the helm dave galboa and neil blumenthal. the ceos and cofounders. the cool factor is snowballing and steam rolling. so many people, really getting a lot of attention lately yet you only have four stores. what are you doing? >> well, it is, we're treating people fairly. you would be shocked what a novel concept that is. our glasses are $95 with prescription lenses instead of 500. we launched online. which is kind of crazy to buy glasses online. we launched with parker.com, and that is how we learned to sell glasses. only recently we started opening up stores. liz: you have a video.
whimsical theory how they market the company but i'm sure you don't spend too much about marketing. the theory, people get up six pairs of glasses sent to them. try them on and then what? >> so we, we thought it was ridiculous how expensive glasses were. cutting out all the middlemen and licensing fees and selling glasses direct to consumers we offer the same glasses moral r normally cost 5, $600, to $95. we launched selling online. we want to make it easy to get the fit right. you have options try on glasses before you buy. virtual try-on and up load a photo and fit the glasses to your face. second is home try-on, select any five frames. we'll send them to you free. return free shipping label. try on glasses and see which ones you like and send them all back to us with no obligation. liz: come in the box and you see, try on everything you want to do. eliminate as lot of stress sometimes people have. of course it is pocketbook stress you're really
eliminating. how solid after business? i wouldn't normally think of glasses as a gift and yet i get you guys are-- bet you guys are smart enough to prepackage gifting option of some sort? tell us. >> holidays are not great for the optical industry but we had tremendous november. december is off to really fast start. one of the things we believe, glasses are fashion accessory, and you have as many pairs as you have handbags or shoes. we have gift cards, start in increements of $50 and go up but you also can with us buy a gift card for somebody. comes with make your own snowman kit. this is fun little box to put under the tree tree. liz: how much does that cost? >> $50, $95, $145. so it is a fun gift. liz: you met at wharton, university of pennsylvania. you came up with the idea. you both wear glasses. do you both need glasses? i was looking at you, i mine, it
was perfect. >> i've been wearing glasses since the sixth grade. liz: so neil, knows. >> really funny. my whole professional career dedicated towards eyewear. i never needed them. always had them for fun. i used to run a non-profit train low-income women to start their own businesses selling glasses in communities throughout the developing world. liz: when people buy one you guys are making donation. that is not hurting your bottom line? >> no. what people don't realize, altruism as has a big business rationale. it helps us recruit and retain talented people. help us build deeper relationships with our customers. it absolutely is helping the bottom line. liz: okay. ipo. when? when? >> we launched out of our apartment 3 1/2 years ago. we've grown a lot faster than we ever expected. we have 300 people based just downtown in soho. i mean right now we're just focused offering best possible experience to customers.
liz: let us know when you do. quickly, partnering with any wearables like google glass, anything like that? >> we launched with a musician beck. we have frames and work with him to have concert in los angeles. just yesterday we launch adco elaboration with leif clark a fashion editor. we have beautiful feminine frames for the holiday. liz: do you believe in the google glass trend and could you somehow get a participate there? >> yeah, you know, i think we both believe wearable technology is the future and just the question is, how, how best to use that technology. >> i think regardless of the technology, fashion matters. if it is something you will wear on your body, on your face it, has to look good. liz: they look great on david asman. great to have you both. kneel, dave, met at wharton. can i say, dave is u.s. berkeley graduate. liz: go bears. >> go bears.
liz: good luck to you. warby, got names mentioned in jack kerouac's journal. david: such a simple idea. the 1/5 of the regular glasses. good luke, guys. costs spotify pennies to play your favorite music. wait until you see how much it costs them? we'll give you details after the break. texting while drive something new worry but google glassing while driving. we have a court battle involving the high-tech glasses coming up. ♪ [ male announcer ] here's a question for you. if every u.s. home replaced one light bulb with a compact fluorescent bul the energy saved could light how many homes? 1 miion? 2 million? 3 million? the answer is... 3 million homes.
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liz: you've heard of pennies from heaven, right? how about pennys from spotify? online music service coming under fire for the puny payment it is makes for millions of songs. david: dennis kneale with a look at teensy little numbers. dennis we know they only pay pennies but spotify cuts them all. >> less than that. spotify sup to 24 million users in 32 countries but pays less than one penny per song to the rights holders for the
20 million songs it offers. radio head and other music acts complained by paltry payments from online vendors. new numbers that spotify posted yesterday could heat up the debate. apple itunes the buy the song for 1.29 and you own it. on spotify you pay only 5 to 10 bucks a month for all-you-can-eat and don't download it. stream it and listen. "wall street journal" says spotify pays up to 8400 -- 84/100 of a penny for one song stream. a song that plays 10,000 times pays an artist only $84 at most. spotify said it payed some stars $3 million. it will shell out half a billion dollars in rights fees. that is over half of revenue. rival streaming service as pan door remarks pushing congress for a law reducingfies it must pay. while new internet radio services pay performance fees, old-fashioned radio doesn't pay performers even spotify penny.
for decades no one complained, dave. david: complained at all. i hate to think of congress getting into the mix but that is really small amount of money. dennis, thank you very much. >> okay, thank you. liz: the smart device market booming with popular items like google glass and smart watches. we were just talking about wearable with the warby parker guys. what is next for wearables next? we'll tell you about an innovation that could help women lose weight and even detect stress. details when we take you "off the desk." ♪ just by talking to a helmet. it grabbed the patient's record before we even picked himp.
it found out the doctor we needed was at st. anne's. wiggle your toes. [ driver ] and it got his okay on treatment from miles away. it even pulled strings with the stoplights. my ambulance talks with smoke alarms and pilots and adiums. but, of course, 's a good listenerer too. [ female announcer ] today cisco is connecting the internet of everything. so everything works like never befe.
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david: time to go "off the desk." the first person hand ad citation wearing google glass while driving has pleaded not guilty in california. she was given the ticket in october when she was pulled over for speeding. we're not sure this is the woman in particular we're talking about. the officer noticed she was wearing google glass and added extra citation to the ticket. cecilia plans to fight back the gadget was not activated while driving. i'm told my producer it was not activated. liz: why are you wearing them? from computer to lingerie, microsoft developing a smart
bra. david: smart bra? liz: designed to help women from emotional eating. the bra monitors heart rate, respiration and movement. sends data to a smartphone app attempts to stop users eating from feeling stretch. there is a catch. the bra's battery lasts only four hours. making it impractical for all day use. david: i will have to investigate that more thoroughly. time for top three things to watch tomorrow. number three, speeches by two federal reserve members. atlanta federal reserve bank president dennis lockhart. will speak on the monetary policy in florida. our favorite guy, dallas federal reserve bank president, richard fisher will discuss the economy and fed operations in texas. liz: number two thing to watch, second reading of third quarter gdp. economists are expecting gdp to increase at annual rate of 3%. up from the previous estimate of 2.%. 8:30 p.m. eastern we'll individual for you. david: any increase is good.
number one thing to watch will be weekly jobless claims before the november numbers. economists expect number of americans filing for first-time unemployment benefits to climb to 9,000 to 325,000. liz: "money" with melissa francis is next. melissa: an unbelievable deal for insurance companies putting your money in the middle. basically the white house saying, guesstimate your costs and we will pay you in good faith. oh, and then we'll go back to review the numbers later. from your wallet to the insurance companies pockets. even when they say it's not, it is always about money. melissa: so insurance companies certainly have been put through the wringer by obamacare's failed rollout. but looks like they are finally going to get their pay day courtesy of you. since the health care website can't calculate subsidies