tv Countdown to the Closing Bell With Liz Claman FOX Business May 22, 2014 3:00pm-4:01pm EDT
crime issue in protest issue grows it could scare away foreign investment. that would be horrible for brazil. melissa: definitely. thank you to both of you. that's all we have for now great i hope you are making today. liz claman starts right now with countdown to the closing bell. liz: trying for their fourth game in five sessions, but will that housing news spoil the party. steers, once the pinnacle of the world now sears is closing stores and losing more money as it struggles to keep up with my walmart and target three we will look at whether sears is a dead retailer walking or was there any effort to keep it alive? looking for a sprinkling? flirting with the idea of a new home? redfin lets you comparison shop from the comfort of your living room to read it's a broker's arm you with every thing you need to know before you run to your bank. ceo glenn kelman joining us to talk extension plans and how he is taking on other
agencies. combined group on a trip advisor and you get the most popular social media site you have likely never heard up for it rakes the best deals you can find online. he's betting that webbed crazed coupon clippers will drive it to even greater success. ceo with us in a foxbusiness exclusive. get ready, countdown to the closing bell starts right now. liz: good afternoon. i'm liz claman and it is less than all important hour of trade and chalk one up for the little guys were in this case the small-cap stocks because they have been getting clobbered recently, but today the russell 2000 is gaining a full percentage point or 12 points, the weeklong picture looks better and better. right now the russell standing at 1116.
earlier this week the index known for at the small and medium high growth stock was in danger of falling into correction territory. look at this three month picture, shutting 9.3%. since its recent high hit in march to read the come back to starting today for the moment to read it all could change, of course, because we have seen a lot of volatility. here's where we stand, dow jones industrial up 32, but we were down 44 points earlier. we have mixed economic news, existing home sales rose less than expected. 1.3% last month. you may look at that and save less than expected is not a good thing, but this number is up for the second time in nine months, so take it. the conference sports index of leading economic indicators is another piece of data we got carried it also fell short's third in the upper jobless claims more americans for the week
signed up for jobless benefits last week and it was more than expected, so initial claims rose about 28000 to 326,000, but when you stretch it out over the four-week and get the bumps and bruises out it is still on relatively solid footing. i asked marriott international ceo if he is hiring and here's what he said. >> we are hiring and we are growing. we are having a grand opening next week at the new marriott marquis, the thousand room hotel that just opened about two weeks ago and that's 602 jobs and that one hotel a long. liz: not new hotel in washington dc, but will things change for the hotel and airline industry if congress gets its way on passing your loyalty and frequent flyer points? don't miss my interview coming up at 4:00 p.m. eastern on after the bell and plus he just met with the president today pushing
for more international tourist to come to this country to spend a lot each time to come to read less guitars top stories. the slow death perhaps of an american i country do you remember these pictures? we showed them to you in october when they were taken by a analyst for capless advisors in the picture showed sears store shelves were in disarray with its financial not very far behind trade today the retailer announced its plans to close an additional 80 locations as a way to restore profit ability. this blow, so many of them coming after a company reported the first quarter losses were whiter than expected and sales fell 7%. the retailer is now in its seventh year of terrible numbers. as we look at shares of sears they are moving higher
by three and a 3%, that's no small chunk of change. perhaps it's because real investors believe once you sell off a bunch of properties it just becomes assets jury to give us more context to this story we sent job lock to an building for a reason trade give us a deeper story of where you are in why you are there. reporter: one of the most iconic sears buildings if you look behind me maybe you see, before there was this huge sears tower there were sears towers on most every stores heard this was built in the 1920s on the southside of chicago and that iconic pop-- power characterize a lot of this year's buildings around the country. this is in the day when sears was essentially the amazon of its day. it sent that catalog out and that had essentially the access to internet commerce of its day and then there were stand-alone stores and this is one of the three oldest stand-alone stores that remain for sears and this was shuttered about a year ago. look at the good and the bad and the ugly of sears earnings today. good, i would say same-store sales up two tenths of a percent and that's a positive and then shop your
weight to the loyalty program has gotten traction. but, the bad side revenue, down 7% essentially and margins declining on discounting of apparel down to 23.2% for the quarter and then the ugly is the loss you mentioned. over $400 million, 379 a share and when a building closes in a sears store closes and it's in a neighborhood like this it's called avalon park and by the way it's about 15 blocks from president obama's house down the street that we. when it closes in a neighborhood like this the neighborhood suffers. sears was this great icon and to be the irony of the whole thing is that they were amazon back in the day. it was a mail-order operation people wanted things delivered. sears just doesn't seem to be able to make it happen at this point. liz: my mom in canada remembers tracing her foot on a piece of paper in an outline when she was a child and sending it to sears to fit her for shoes in it
really is so sad, but then anchor comes up for people looking at eddie lambert, who is a supersmart guy, but years now of what is a categorical disaster and now he has some retail outfit or real estate outfit where he is clearly trying to just shut off all the real estate, but now these stores are in areas where no one was to be in anymore. reporter: i hate to say it, but this neighborhood is not one that is particularly attractive. it's a south side largely disadvantaged neighborhood. there's good working class people that live here, but not a favorable real estate area, so it's a tough strategy. liz: in the. we wanted that perspective that only you can give. jeff locke live from one of the oldest sears stores ever bill, shuttered now, for good. as we approach memorial day weekend is just getting lighter and lighter like a feather new york stock exchange volume running 17% below the average.
meanwhile, stocks are flirting with near record highs, so how does that work? the s&p 500 today came within one and a half points of record territory jury take a look at the volatility index. there's no fear here. it's hovering at its lowest level in 14 months at 11.8. we have near record highs on light volume and no fear. is this really a recipe for a long lasting rally? i know your answer is, there's not a lot of meat behind this potato. >> i agree with you 100%. the s&p is closing at new highs but they're only about 10% of the s&p issues that are in new 52 week highs and if you look at the percentage of stock you'll have about half of the stocks versus about a month or two ago when you had almost 85%, so fewer and fewer stocks hitting new highs and that is a concern. you have a wall of warrior
with regards to decelerating earnings growth and economic growth and geopolitical concerns and you have to balance that. so, it's an interesting market, but fewer and fewer stocks are participating. that's not good news. the trends are intact. things like home builders today are very promising strong move to find their highs. russell is starting to make headway against the s&p. it's been in a downtrend for almost three months and now you start to see strength and small caps yet again, so the least we can see about, but it's tough to see a lot of longevity given so few stocks are hitting high. liz: you mention the home builders and the derivative plays are looking good also. home depot, lowes are higher so i think you're right and anyone-- any of us who have been participating or watching this market for years knows that the four days before memorial day weekend you will not see a
lot of action, so let's get to treasuries. up 2.56% yield on the 10 year is a very interesting considering we were at 2.51, 2.5 to just a day or two ago. >> i'm starting to watch interest rates rate there i think-- i put an offer it in a house today because i'm looking at this i think it's an sustainable. i think treasuries will start to-- the yields will start to rise. i think the stock market is going to come up to read we see these quick jerk reactions with s&p falls one to 2% and you were bringing up the volatility index earlier. i think that's a bargain down 14% on the year. it's something you put in your portfolio and stick in your back pocket. we have geopolitical attention you the possibility of rising interest rates and economic data has been hit and miss. we saw weaker industrial production and also retail sales, so i think longer terms and volatility, i think it's going to pick up. liz: you should stay and watch our stuff-- show trade
i hope you get the opera in your because we have redfin where you can buy online and it's an interesting business model. stay tuned. as we head into what is considered to be the summer driving season not as much movement as i would expect on the energy complex. >> true, but we are above one to 50. you couldn't pick a better week for big draws in crude oil down right now. this could be the catalyst of a real expensive writing season. retail-- wholesale gas about $3 for the first time in weeks. so, let's see what the weeks turned out ahead trade. liz: everyone have a safe weekend if we don't see you tomorrow. closing bell ringing in about 49 minutes. looking for a good deal on something, but want to make sure it's not good-- too good to be true? this is an online site. it's been around since 1999, but it has new energy where the users actually decide what constitutes a great
deal. ceo joshua myers live in a foxbusiness exclusive. you need to save your money, folks, so go on as an checkout. if you need a bigger place to store all that stuff that you bought? redfin, it makes shopping for a new pad quick and simple. redfin ceo glenn kelman, another foxbusiness exclusive. real estate, maybe it's turning up the heat. ♪ ♪ ♪ ♪ (mother vo) when i was pregnant
are the largest targets in the world, for every hacker, crook and nuisance in the world. but systems policed by hp's cyber security team are constantly monitored for threats. outside and in. that's why hp reports anhelps neutralize more intrusions than anyone... in the world. if hp security solutions can help keep the world's largest organizations safe, they can keep yours safe, too. make it matter. all stations come over to mithis is for real this time. step seven point two one two. verify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured.
liz: from twitter like service, to travel site and later the somali bala, how are we doing pronouncing their? twenty's companies are increasing their presence on us exchanges, going public right left in the us, china's answer to amazon.com is jd.com. three it made its public debut today and spike at the start of the session, but as you see it has fallen back down a bit to earth read it was at a 19-dollar offer
price and its way above that now at $20.83, up about nine and two thirds percent, but earlier it was well above 11%. is the ipo of this an indication of how successful alibaba will be later this summer? investors can expect a flurry of additional chinese companies to list here. during kent on the floor of the nasdaq with more and jd and we ignore the fact that the nasdaq navigable of these big names. jo ling: no doubt about. it started trading at about 11:00 a.m. eastern and he saw that as you mentioned. right now, we are looking in doing pretty well up around nine, 10% but what is interesting about this stock is that jd is that-- china's largest online direct sales retailer and when i asked the ceo of jd mall.com. , the biggest revenue generator.
i asked him about what this means for stocks down the road and he was bullish and said this will bode well for alibaba, but there's a lot of questions surrounding the company. unlike alibaba it is not profitable now, but he pulled in nearly $1 billion in a bonus based off of eight share -based stock and you look at the numbers and it's astonishing. he also has an 84% control of a voting despite the fact the company is public. when i asked his calling about this and what this means were investors this is what he had to say. >> the ipo of the private investors have been supportive of our strategy and supportive of the founder of the comfy. i think for fast growth company like jd its import to have the founder to be in control and the quick strategic decisions and long-term focus for the company. jo ling: i also asked him
how he feels about the chinese economy now, obviously consumers are being hit hard with the housing crisis in gdp, but he said he's confident and that the middle class will continue to grow and jd.com. will continue to do well. liz: this is reminiscent of 1999. i find it fascinating, though. i'm glad they are listing here. very interesting for us to get the business. thank you. begin of 1999, this next company was founded that year. think of it as the reddit for shopping. slick deals is the largest online community, 95% of the deals they offer are actually generated by a super hyper loyal user base. it's a bit of a problem, most people have never heard of it slick deals, but that's about to change. joining us now in a foxbusiness exclusive it joshua myers, slick deals
ceo. why don't people know about this like they do fatwallet some the other names? >> first of all it's great to be here. slick deal has never done marketing. so, the people that know about it, 8 million strong, with 8 million users in over a million downloads of our app, those folks know it. i tend to get one of two reactions from people when i talk about slick deals. either i love slick deals or i'd never heard it, so we are starting to do more marketing and try to get it out there so we can expand the possibility and get people to know it. liz: let's show people how it works and in doing so let's also say when i started doing this i would basically get the best price for whatever you want to. when an ipad and then you get to choose all that's out there. how is this different and show us how it's different? >> with slick deals it's unique because it's done by crowd sourcing and its crowd generated content. of their users-- users bow on the deal and then the very best deals rise to the top, so if you look you can see these are the deals. every single day the great
things is that we will service the best deals on the internet. so, if you look today we will show a dell laptop for $250 and i was noticing earlier a great deal on a flatscreen television, a 60-inch samsung plasma tv for $680, which is less than anywhere else. liz: and it's new and good. >> it's new and if that sears. it has a fire icon next to it which means it's gone on fire. liz: so, people are checking the site every day and saying i found this dealer that. do you find it to weed through and make sure the deals are legitimate? >> yes, our deal experts look at everything before goes out. liz: good trade we just showed one on a much lesser scale. you can cycle through some of him that we saw, but that's the dollars plus free shipping and then that chrome book that is refurbished and you can see
this is just about $100 after $20 in rebates. that's interesting and then you get a men's watch and another watch, so it runs the gamut, correct? what are the hottest items right now? >> today i actually saw an itn's gift card, $50 selling for 40 at stable. you would never think to go to staples to look for that item and today you can buy a gift card for $40 worth $50. liz: how do you make money? >> on advertising as well as commissions from the items that sell to the website, so we refer people to sears or macy's or amazon or ebay and we make a small amount commission, but we drove almost a billion dollars in sales last year for a merchant . at certain points where people didn't like where you could at least-- certain
retailers to mike when you can walk in and price, but here you help them make sales. tell us about the help of the consumer and what you can tell from a website because a lot of people art sure right now if the consumer is healthy enough to open the wallet? >> i think the great thing about slick deals is it's about saving consumer money to read as i mentioned, we have saved consumers last year about over $300 million and can immediately since the come was founded we estimate we saved over $2 billion, so in an environment where people try to save money i think that slick deals plays in perfectly. liz: a dyson for $230, i decided to read thank you so much and good luck. >> you are welcome. liz: check it out, slick deals.com. josh myers is the ceo. you could go public what are these states. >> we will see. liz: closing bell ringing and 37 minutes. breaking exclusive news, new york attorney gearing up to take action against-- well,
we will let charlie tell you straight he's rushing down with the breaking details. taking on pillow with a twist as we are all watching homebuilders and the housing and housing sales redfin ceo glenn kelman is an action telling us his game plan or whether the housing market is coming back. ♪ ♪ ♪ (vo) watching. waiting.
(announcer) at scottrade, we share your passion for trading. that's why we give you the edge, with innovative charting and trading features, plus powerful mobile apps so you're always connected, wherever you are. because at scottrade, our passion is to power yours. ♪ no matter what kind of business you own, at&t business experts can help keep it running... seamlessly. so you can get back to what you love. when everyone and everything works together, business just sings. my dad has aor afib.brillation, he has the most common kind... ...it's not caused by a heart valve problem. dad, it says your afib puts you at 5 times greater risk of a stroke. that's why i take my warfarin every day.
but it looks like maybe we should ask your doctor about pradaxa. in a clinical trial, pradaxa® (dabigatran etexilate mesylate)... ...was proven superior to warfarin at reducing the risk of stroke. and unlike warfarin, with no regular blood tests or dietary restrictions. hey thanks for calling my doctor. sure. pradaxa is not for people with artificial heart valves. don't stop taking pradaxa without talking to your doctor. stopping increases your risk of stroke. ask your doctor if you need to stop pradaxa before surgery or a medical or dental procedure. pradaxa can cause serious, sometimes fatal, bleeding. don't take pradaxa if you have abnormal bleeding or have had a heart valve replaced. seek immediate medical care for unexpected signs of bleeding, like unusual bruising. pradaxa may increase your bleeding risk if you're 75 or older, have a bleeding condition or stomach ulcer, take aspirin, nsaids, or blood thinners... ...or if you have kidney problems, especially if you take certain medicines. tell your doctors about all medicines you take. pradaxa side effects include indigestion, stomach pain, upset, or burning. if you or someone you love has afib not caused by a heart valve problem...
...ask your doctor about reducing the risk of stroke with pradaxa. liz: the new york state attorney general's office is ramping up its investigation into high-frequency trading. potential enforcement actions as early as this summer, we want name street can charlie gasparino give them to us. charlie: i can. this is what we know, and this is a pretty interesting advance on this investigation, eric snyderman is essentially one of the first regulators, the attorney general. he is after high-frequency trading and looking at changing the practice of it. we have understanding that
the investigation is heating up and up where people inside the office and people most of this investigation are telling the fox business network they are eyeing possible enforcement action as early as this summer. that the put a quick turnaround. liz: was the charge? charlie: it will be a fraud charge, but let me clean. they are looking at the combination of high-frequency trading firms, how they work through those private marketplaces and whether they have private arrangements in those pools to give certain high-frequency trading firms an unfair advantage over others. that is what they're looking at. i can't tell you if it's a criminal charge, it will probably be a civil charge. they don't know yet. they don't know if these firms will settle. they may just file an enforcement action, but that has not been determined yet. clearly they are on track and from what i understand it based on the evidence they have obtained for
summer enforcement action to read the high-frequency trading firm run by benny viola the former head of the new york mercantile exchange had an indefinite delay in his plan of the ipo which was supposed be ending out. i think if he gets to the summer there's a good chance with these enforcement actions and it doesn't involve him i can tell you because it doesn't that's when you may see him pull the trigger on this ipo. that's what we know now. they are under investigations, so it's not just the firm's. i will say this about eric snyderman if he goes after the dark pools in a good way, in a way that basically shines light on them and eliminates some of them he will do a great service to the securities market because these pools, the fact that there are so many, you know what you have a problem is. liz: they have the potential of unwinding the market.
the flash crash, absolutely. charlie: they are getting a print of a price in a dark pool versus the new york stock exchange and how they have to re- consigning. liz: and the little guy on his american trade account, the retail investor has to have it there as well. charlie: the retail investor gets screwed more from the dark pools trade we will see where eric schneiderman comes out. i would say that in terms of investigation he moves fast. we should point out the sec has looked at this-- liz: i'm watching my watch. it's been years. charlie: he is moving forward aggressively. this isn't an official timetable, but that's what i'm hearing. liz: i'm looking at the chicago mercantile exchange and it's moving up another one or 2%. yesterday yet the story about the possibly investing. charlie: here's the thing, there was a story done that says russell is in exclusive
talks with the london stock exchange. what i think the cme would do is go after other potential-- i mean, terry duffy is sitting on lots of cash. he has to do something with the cash and from what i understand he met with bankers earlier this week. as you know he's frugal. he's not exactly a guy that spends money on everything. he runs good business. he is thinking in terms of accusations. liz: i feel badly for him that he's a blackhawks fan and i'm a kings fan. because they will beat the blackhawks. charlie: i thought you were going to say you feel badly because he's a billionaire. [laughter] liz: i don't feel bad for them. charlie gasparino. we have the bell ringing in 206 minutes. if you took our next guest advice the last time he was on you would have two, not one but two in your portfolio that each rose more than 50%. one of them rose 60%. could a wood have it should have, right?
april home sales data failed to jump as much as analysts expected, but could the housing recovery be just on the rest of us of getting really strong? heating up we have the man with a window into the homebuyers soul and the home sellers, glenn kelman is the ceo to redfin. a fox business exclusive. ♪ ♪ ♪
and you can see it's a bit over how to the upside it's 60548, we lost some of our gains. s&p is better by five, but it's the russell that people are watching out. it's got a good gain after having come extremely close to correction territory. correction, by the way, is off 10% from recent highs. russell had been down earlier by about 9.3% this week from recent highs. right now adding 1%, so a bit of wiggle room between the ugly and decent. the stock market has been so volatile. our next guest is going in one direction and that's it. is up nearly 30% over the past year. far outpacing the s&p, so get out your notebooks because he's got stock picks and here with me now is don hodges, founder and chairman of portfolio manager. it was your two recent pics, the last time you were here -- it was actually that recent. it stunned us as we look in
the review mirror and saw both were up 50 and 60%. i thought that was amazing. one of them was matador which were picking again, but the other was delta airlines. how do you know to pick those names and realize that's not just some a fluke? >> the airline industry as investment vehicle was probably the worst the last 25 years that you can be. airlines were going broke right and left and there were about five survivors and they had a perfect picture in front of them of what not to do. so, you had to think they finally learned their lesson. they have pricing power. they are cutting back on flights. the price of fuel was relatively cheap in comparison and i thought it's just-- they are under owned, so it's time for the airlines to do well. liz: and you were right. 54% gain, but then matador, for example, which by the way you are picking again.
>> it is a great little oil producer. great management, very cost-conscious and they are in the good areas where the wealth they hit-- liz: up 60%, i believe. efficiency up 60%, so what we have here is a large, which is delta, which is delta in a small which is matador and therefore you have the multi- fund, which as we mentioned is outperforming the s and p500 , how do you go about-- was the process of picking winners that you have developed of years? >> simple, we just eat companies, that's it. we don't pay attention to what the fed is doing or what interest rates are doing or what's going on in spain or greece or europe. we just look at companies and that's our passion and if you look at enough companies you will find good investments. liz: are there certain things you pick out and say it's got to have this if i'm
going to add it to this? >> we favor companies that trade at low price earnings multiples that are showing good revenue growth, good profit increases and barriers to entry. liz: i need to interrupt you, but it appears by accident i i don't know why hewlett-packard has released its numbers early. the market never likes surprises and we are getting details, but you can see hewlett-packard a dow component has began to drop precipitously. right now it's losing about one half, that's not rather precipitately i over substrate come again, mark. 27.3billion on revenue versus 27.41, which was the expectation, so slight miss for the revenue. we will get more and hewlett-packard in a moment, but we will keep that up as you continue to say what you look for in a stock. >> long price earnings, rising revenues, increasing profit ability, high
barriers to entry and generally perhaps something that has been out of favor for a while and has been oversold and under owned and when those kinds of stocks turn they turn with a vengeance generally and it's-- liz: that works perfectly with your whole airline and you have a new airline for those of you who missed the delta airlines move you also like united continental. united at a disappointing quarter recently. they had tremendous cancellations in the first quarter, but i think it has more to gain going forward than maybe even delta does. so, i think united could have a substantial move from this area. liz: what are the other sectors you really like right now? >> we like oil drilling, homework and pain, we like the homebuilders--
liz: really? even though the market has looked-- we had the ceo of redfin which is one of those websites that help people buy and it's extremely popular now. it seems like people are in the browsing mode and assumed they might be in the buying mode. >> from the standpoint of providing housing for the new entrance in the home buying we are underperforming now. the day will come that we will have to build more homes for the first time homebuyers. liz: are you worried that we has thin volume and a lot of moves close to record high today, the record high for the s&p would be 1897, we are just about two points away from that. >> i'm concerned not overly concerned, but i am concerned about the volatility in the market --
it can knock us stock down. the slight is good news it can put them up 10% and a lot of that is the high-frequency trading. the dark pools. liz: that's what charlie was talking about. >> it's traders rather than investors, but on the other hand that creates opportunities for investors. liz: you have proven that investors can win. for fund is up 30%, if the multi- hodges fun. great to see you, don. thank you so much. >> great to see you. liz: while we were talking hewlett-packard released the numbers early. you can see the stocks, first plummeting and come back up off the floor a bit. still doubt about one or two thirds a percent. in the slight miss on the revenue. we are watching hewlett-packard, very closely and we will go down to the floor the new york stock exchange in a second to get the real feel.
from virtual to actual reality online real estate broker redfin can take you on virtual tours of new homes and when you finally narrowed in your choices right into the real thing as their popularity grows so does the number of towns and cities they cover and ceo expanding into 50 new markets. glenn kelman redfin ceo coming up next in the fox business exclusive. ♪ ♪
liz: breaking news, hewlett-packard the tech giant comes out with results early. they were supposed be after the bell, the stock was up one and a half percent and now with the surprise in the miss on revenue is down one and two thirds percent. ashley webster, get in here. >> as you said matching and down five and revenue.
we should point out this is the 11th drake decline in revenue for hp. industry observers have been watching what they can do to turn the current-- company around and there has been signs of that. they have been through cost cutting as well which has helped the bottom line. but this will have an impact in we will crosscheck on the guidance from hewlett-packard. let's face it, that hewlett-packard software distribution division is the key ones for them three we will see how that has performed. that accounts for 42% of the company's value. oks what i guess we will say now. we saw stock prices point out is it has come back a bit. we will continue to dig through these numbers and see what else they are same. liz: they are the worlds largest personal computer maker. this is a shrinking market. >> it's a hugely shrinking market.
liz: they don't have a phone to write home about, it's a tough business. they have been very solid things i think part of the drop in stock may be the fact that it was a surprise punch. we don't know why the numbers came out early. we will get more clarification hopefully in a few minutes. thank you, ashley. again, a miss on the revenue side, a match 88 cents per share on the earnings per share site. here's the good news, americans are at least back to shopping for home with. april home sales have the highest rate out since december, but if you are in the market for a new place you may not be making enough money to afford one in your own hometown. what we talk about? according to a recent survey cleveland, pittsburgh, and st. louis were the top three cities with the lowest salaries it needed to afford a home to read all three you could make below $35000 and have home afford ability, but if you live in one of these three top urban spots you may need your income to
hike up before you even come close to own a. semper cisco, diego, new york requires the highest salaries to be a homeowner. one real estate brokerage firm knows about the competitive world of real estate in it makes shopping for a new pad quick and simple. let's bring in redfin ceo, glenn kelman to read he joins me in a foxbusiness exclusive. i was looking at the name and i realize it's an anagram of finder and friend. i read about that. >> most people don't figured out. liz: i like the name because it's catchy. what are you doing differently at >> we have a different business so we are not a media company that serves traditional real estate agents. we are real estate agents and this is the next generation real estate broker that helps people buy and sell homes. we have website. we have mobile tools.
we also have the best real estate agents of the world and they walk you through houses and hang yard signs and right offers. the big differences they are paid to be on your side, so they get a bonus based on customer satisfaction instead of the commission aced on any kind of sale. liz: owner satisfaction that buyer satisfaction. interesting. you have the of about 1.5%? >> we charge a lower be in the reason we can do that is because we meet our customers through our website and mobile tools, so people come to us and search for homes. we have about 20% more homes than most of the major media sites and when they do that they see our agents and they contact us for service and you can be standing in front of a house and be on your iphone and say you want to see it now and you will get an agent to show you right away. liz: it's a different world right now. 32% of homes sold in the top 17 markets work all cash transactions. who has that much money? are people just not getting loans? what's going on? >> that's part of the
problem, about half of america can't qualify for a long. they were wiped out four years ago and they still haven't recovered in terms of their credit, so you have a bunch of people who have no choice but to rent and that's why you see rents going up so much. it used to be at landlords were afraid to hike up the rent because we were worried someone would move out and buy a place, but many folks who could move out really can't. the reason they can't is because they can't qualify for the loan. so, you're a smaller section of america qualifying for loans, able to buy homes and then you still have some investors who are barely active. that has begun to step back from 2012, 2013 and especially 2014. liz: how is your mobile business because it seems everyone is looking at their mobile phones of looking at homes. >> it's true, our mobile business is exploding. it means people have different service expectations, so now more than half the people who want to see a house with a
redfin standing in front of it they want to see right now, so it's really hustle into our game. liz: tried out everyone treated redfin.com. it's great-- great to see. good luck to read glenn kelman is redfin ceo. closing bell ringing in just about five minutes. don't miss my exclusive interview with marriott international ceo arnie sorensen's and what he believes the hotel occupancy rate says about the strength of the us economy. more on the early release of the hewlett-packard numbers. stay tuned.
are the largest targets in the world, for every hacker, crook and nuisance in the world. but systems policed by hp's cyber security team are constantly monitored for threats. outside and in. that's why hp reports and helps neutralize more intrusions than anyone... in the world. if hp security solutions can help keep the world's largest organizations safe, they can keep yours safe, too. make it matter.
really... so our business can be on at&t's network for $175 dollars a month? yup. all five of you for $175. our clients need a lot of attention. there's unlimited talk and text. we're working deals all day. you get 10 gigabytes of data to share. what about expansion potential? add a line anytime for 15 bucks a month. low dues... great terms... let's close. introducing at&t mobile share value plans... ...with our best-ever pricing for business. can you start tomorrow? tomorrow we're booked solid. we close on the house tomorrow. tomorrow we go live... it's a day full of promise. and often, that day arrives by train. big day today? even bigger one tomorrow. csx. how tomorrow moves.
[ bell ringing, applause ] five tech stocks with more than a 10%... change in after-market trading. ♪ all the tech stocks with a market cap... of at least 50 billion... are up on the day. 12 low-volume stocks... breaking into 52-week highs. six upcoming earnings plays... that recently gapped up. [ male announcer ] now the world is your trading floor. get real-time market scanning wherever you are with the mobile trader app. from td ameritrade. liz: missed punch? why did hewlett-packard numbers come out early? regardless they did. let's get to nicole petallides. david asman joins me now. talk about this, nicole, reversing course. >> hewlett-packard to the
downside. we saw a revenue miss. down 2.3%. obviously big when things come out ahead of the bell like this. we're getting headlines that they are pretty happy with their turn around. that they have seen thus far. that remains on track. they're trying to turn hp into a more nimble, lower-cost, more customer and partner centric company. they continue with their turn around plan. meantime you see here, wall street not accepting these numbers too naysly. david: glad we got it out of the way. we can move on with thing of the that's history. let's talk about retailers because they have been beaten up quite a bit. doing well on high-end and low end. dollar tree way up. but williams-sonoma is up too. >> two completely different stores as you noted, a low end and high-end. williams-sonoma. dollar up almost 7%. williams-sonoma up almost 8%. liz: the star stock of the day has to be jd.com.
chinese internet stock rallying from its debut but coming of the highs. [closing bell ringing] >> up 8% going into the closing bell. liz: had been up 11 or 12%. it is up 10% as we hear the bells ring on wall street. dow jones, we lost a lot of air here. the high point of the session up 32 points. s&p 500 up eight. still up four. not a bad day for the russell. david: we have inverse pyramid. smallest gains at the top. you can't forget russell 2000, almost a full percentage point. liz: decent move here. "after the bell" is start, right now. don't move. david: kind after fun day. certain stocks moving in very strong directions. get right to today's market action. yu-dee chang, who has four investment ideas for the current