tv Countdown to the Closing Bell With Liz Claman FOX Business August 18, 2014 3:00pm-4:01pm EDT
this you go, right? all right, thanks, guys. i hope you're making money today. the market right now up 167. liz claman coming up next. ♪ ♪ liz: international pension be damned, optimistic u.s. investors appear to be going their own way for now with mega money deals in the works. dollar general makes a nearly $9 billion bid for family dollar. billionaire investor carl icahn's fingerprints are all over this one. charlie gasparino told you about it first, we've got the latest. ferguson, the missouri governor calls out the national guard. but when the anger dies down, could high-tech body cameras for police officers transform u.s. law enforcement? and which companies are at the forefront of this new technology? we break it down for you. ♪ ♪ liz: and rise of the drones. unmanned aircraft seem to be everywhere, spending on drones
could reach $100 billion over the next decade, but can companies like amazon rides above government -- rise above government red tape? our weeklong series kicks off, 3-d robotics colin given in a fox business exclusive. "countdown to the closing bell" takes flight right now. ♪ ♪ liz: good afternoon, everybody, i'm liz claman. the all-important final hour of trade, we often talk about merger monday, right? but today we should probably rename it megaequity monday. all three major indices, make it four, opened higher. none of them has looked back since. right now here's where we stand with 59 minutes before the closing bell rings. dow jones industrials very close to the highs of the session, up 167 points. high of the session up 178. the nasdaq better by 38, nearly
a full percentage point here. look at the russell, the small and mid caps that some have counted out about seven weeks ago. not so. up a full percentage point or 13 points. once again, the transports quietly jumping 126 points. marching closer towards 17,000, is the dow jones industrials, led in part by two dow stocks in particular. disney, which was on a tear last week, but also home depot. both of those names hitting all-time highs. and when was the last time you heard of a 14-year high? music by madonna was number one on the billboard charts around that time if that brings you back. the nasdaq today hitting an intraday high of 4,509. right now you see it, 4,503. this is a 2014 high. small caps and transports, they're actually -- and if we pulled apart the percentage gapers which kind of gives you a sense of what's going on -- they're the leaders.
as you see with the russell. i already told you about the transports, but from a percentage gain, 1.5%. today's gains as overseas tensions seem in a way to be subsiding, at least for now. any headline could derail this. but there is new action in corporate deal making that is really driving this market too. dollar general jumping into the fray, making a nearly $9 billion counterbid for family dollar. this comes just weeks after dollar tree made an 85 billion bid -- 8.5 billion bid for family dollar. billionaire carl icahn, the activist investor, has a stake in family dollar. let's check stock reaction. look at dollar general in particular. usually it's sort of the hot chick that all the guys want to move higher, but dollar general the new suiter here nearly 12%. dollar tree left out in the cold at least for today, down about 2%. we need to show you oil.
brent down nearly 2%, it stands at $101.67, it's losing about $1.86. brent is really what trades overseas. west texas intermediate down just under a percent or 86 cents, but look at it, below $97 a barrel. we had a couple of smart traders, jeff grossman was one of them, basically saying, listen, there's no real reason for oil to be higher when we have such huge inventories at the moment. although we'll see what he says when the first hurricane hits, right? september, hurricane season. let's go to this week, though, already starting with such a bang, and there is much more ahead including the fed's critical jackson hole meeting starting the day after tomorrow. will policymakers signal any changes to their plans to taper large scale asset purchases which really have been holding up the markets? when i say drop, janet yellen on your screen. will they drop any hints about the timing of an interest rate
hike? how will the markets react? janet yellen on friday, but you guys know that any move out of jackson hole might gyrate the markets. so let's go to the new york stock exchange, cme group and the nymex. ben willis, lots of things could happen between now and friday and her speech. how much do you care? >> i think that will pretty much be the motivating factor all week. we have cpi tomorrow and then a couple of other numbers that may move the market, but this market has been absolutely headline-driven, as you referred to. you know, friday the markets sold off dramatically on what turned out to be a nonevent, and actually propaganda from the ukraine. there was nothing to the story. liz: let's back up because, i mean, honestly when -- [laughter] when you used the word hoax on friday, for those of you who weren't watching, ben blurted out, listen, the markets are coming back because this could be a hoax. this manning that a line of russian military vehicles was
attacked by ukraine. there was no video, and the markets fought back. >> absolutely. and, you know, that's why fox business has people embedded on the floor, because you're willing to listen to traders each though the major -- even though the major headlines may be telling you one thing. mr. putin had too much at risk to deny anything had happened, but a if a video or some sort of photograph showed up with dead russian soldiers or burned-out tanks, there would have been hell to pay on his side of the equation. so the market had to look at that and say, you know what? there's nothing to this. and that's part of the recovery coming in today. as far as jackson hole and janet yellen, probably the most important driving fact whether it's going to be putting 40e8s in the market or making the market whole is what's going to come out of jackson hole. liz: phil -- [laughter] unless a hole in the sky is filled with a hurricane that starts to form somewhere out on the atlantic, i mean, honestly, look at these oil prices dropping precipitously. natural gas isn't doing that much. it hasn't been that hot. this
summer. where's the trade here? >> i think the market's oversold, but the trend's down. look at what's happening with u.s. production, liz. it's the highest level since 1974, and it's possible that we're going to produce more oil in this country in the next couple years than we ever have before. in fact, not only that, there are some projections saying we could double oil production. liz: suddenly, there's so much. and it's what people cried about and wanted in the industry. >> that's right. liz: let us drill, and then we do, and what happens? the price goes down, they have trouble making their margins. >> well, yeah, but the margins have still been pretty good. and what's nice about the oil we're producing, it's high quality, high yielding oil, and this summer, for example, the refinders had a pretty darn good year. yeah, margins are down right now, but we've produced more product in this country than we ever have before, we've exported more product than we ever have before. today we're down because we're
taking the geopolitical risks, but that's going to give us a little bit of an economic boost, and those lower prices aren't bad especially when the economy's struggling. liz: isn't it interesting there were so many complaints about this administration not allowing the drilling, and suddenly we're at our highest when it comes to production. it's just something that we need to point out. we call it like we see it. now we get to the cme, and i'm looking at the treasuries here, chris. when you talk specifically about what happened last week, when we went below early in the week below 2.42% for the yield on the ten-year, people were waving their arms. look where we are now, 2.39. i guess that spark plug of hysteria has blown, and people are saying, okay, now show me something really dramatic. >> right. i think we're going to watch that technical level. it's still a 14 month low for the yield, and if you look at what's happened, the trend continues to be higher. everybody's got to wait and see what ms. yellen says on friday, but in the meantime, you've got the stocks nicely within 100
points of the record high for the dow, and that's after we had about a 900-point selloff. so i think all eyes are going to continue to watch, you know, we've been watching this for about a year now, when is the fed going to make a move, and when they do, you'll have an adjustment in the market, but they've been telegraphing this for quite some time. liz: indeed. but they choose, and everybody who doesn't understand what happens in jackson hole, they often -- not always, but they often use that as their big platform to produce policy hints, right? i mean, isn't that what we've seen in the past? gentlemen, thank you so much for joining us on our floor show. we love you. when you throw out the word hoax, i'm thinking, oy vey. but then what happened? that's why we listen to you guys, we really do. thank you so much. now, changing gears sort of, okay? because all news affects business news. the troubling events in ferguson, missouri, have put new pressure on police departments everywhere to produce a visual
record of crime scenes for evidence for legal cases, you name it. one way to do that, by wearing something that some police forces have done, wearable cameras that tape exactly what officers see and do. the view has been providing police with wearable cameras for years. but how effective is this technology when it comes to preventing events such as the ferguson incident? how will this impact the way law enforcement agencies carry out their duties? and have their phones been ringing off the hook with police forces saying we want in on these cameras? joining me now is steve lavell, president. steve, we're thrilled to have you here because your company actually does what would have helped a lot in this situation, and that is record the entire encounter, is that correct? >> that's correct, liz. and thank you for having me. liz: of course. let's talk about the v view cameras, how you put them together, what they do.
>> so v view, we're based in seattle, washington. we've done that since 2007. the goal of our products are to capture that 95% of activity that officers are engaged in away from their police cars. liz: i mean, you guys are kind of the leaders here, as i understand it. 80% market share, you've got 4,000 police forces, agencies that use it because it includes campus police, stanford, i know, uses your cameras. you're in 16 different countries. so not just the u.s., correct? >> that's correct. wearable technology, international markets is just as strong as the u.s. market as far as professionals or law enforcement documenting their day. liz: steve, when you saw what happened with ferguson, i need to know right off the bat, and right now we're rolling on the screen here all of the pds that use, everybody from oakland pd -- tough neighborhood, we know, dallas, etc. but what was your first thought when you saw all of what was happening not just in the wake
of it, but, of course, the only video evidence they have of the initial crime, the initial alleged crime is very fuzzy store video, store security video. >> yeah. a lot of third party video. now, i served a career at law enforcement in oakland, california, which has about 800 of our cameras deployed. you know, every police department in this country could just be a shot away from ferguson, missouri. that type of incident happening to coast. so officers, departments, cities, they need to engage and equip with current trending technology that actually allows for capture of accurate records of what they're engaged in. liz: hey, i would love that, but these things are not cheap, right, steve? i mean, $900 per device. this at a time when budgets are being cut at both state and local level. how do do you convince them, what is the data you use that proves that these things are value signal. >> so at v view, obviously,
getting a product off the ground, pricing's always an issue. but we have a solution that is absolutely no money into the project, we'll send the cameras out on a monthly billable for 36 months, $25 a month for a camera for an officer, and then they get a replacement warranty this that, they get free training. so we can get these projects off the ground with little to no money right off the top. liz: okay. but so can other copycats. you know, there's a somewhat low barrier to entry, although something tells me you guys are pretty darn good at what you do if you're in 4,000 different agencies. i would like to just say this: in rialto, california, the entire force, as i understand it, uses these cameras, and within the first year you saw use of force down 60% and citizen complaints against the police down 88%. >> yeah, those are significant numbers for reduction. and that's really what our product drives, a significant reduction of complaints,
liability, enhanced public trust. those are the drivers for our project. liz: steve, as we finish up, how do you scale up? i would imagine your phones have been ringing off the hook with people saying we need these things with our agencies, etc. can you just tell me how if you're not publicly traded you have enough capital to start really scaling up your manufacturing which, where are you guys manufacturing? >> we're manufacturing overseas. liz: okay. how do you scale up? >> well, we scale up, v view's been a profitable, privately-held business. we have enough investment in our capital to manage the inventory, the work force to support the sales initiatives here in the. we're positioned really well to actually manage through this. liz: and you're wearing one right now on your lapel. it's very unobtrusive, but thank you very much for showing that to us. >> yep. this is our new wearable, wi-fi-enabled camera. you can see how small they are. these things are not bulky
anymore. liz: steve, it's great to see you. please keep us posted on your company. >> thank you, liz. thanks for having us. liz: anytime. right near a fox business exclusive. we've got the closing bell ringing in about 45 minutes. it may be too soon for a lot of us to think about winter, but it's going to soon be here. kind of inevitable, we know that it comes at this time every year. if you want to avoid the winter skids, listen to jeff flock who will show you the real tire performance on ice and who's making them and who's making a profit on them. plus, rise of the drones. our special series takes flight today just as amazon and other companies step up their efforts to get the government, the faa, to relax rules on commercial drones so they can start using them to deliver things. we've got a fox business exclusive with colin guinn, senior vp of a company at the cutting edge of drone technology.
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brain drain? yet another top employee is leaving point 72 asset management company. if you don't know that name, it's formerly sac capital which was hammered by the regulators, of course, for insider training. billionaire steve cohen's right-hand man gone at the end of the year, so what does this mean for the future? charlie gasparino working the phones getting the dirt and the exclusive details. >> if you read the press release coming out -- i can't stand that name, point 72. liz: i don't even know what it means. >> i think it's their address or something. there's a method and a reason to that, and it's tied in, and i'll tell you why in a minute. the press release said, basically, the coo of the company or number two in the company is leaving on mutual agreement. they don't say exactly what that is, but this is part of a sort of housecleaning, post-indictment of sac capital where they're not allowed to manage any outside money
anymore, but they're house cleaning for the future so it can manage money in the future. so here's what we do know, sources are telling us that steve cohen desperately wants to get back into the asset management business of outside money which he's barred from doing right now. he's playing a waiting game. one way he's trying to score points with regulators is to show that they have a complete management change at sac capital. tom khan is the third top guy at the firm, i believe the coo left, the chief marketing officer or someone else -- this is the third -- liz: but some would like to see steve cohen gone. >> let me make this point, he's the third top person of that management to leave. listen, this is the long game. he's not going to be the u.s. attorney forever for the southern district. mary jo white's not going to be the sec chairwoman forever. there's going to be someone else in there. if there's a republican administration, particularly
chris christie who's very close with steve cohen, he's hoping that in a couple years he's coming back. that's what this is all about. this is steve cohen, the long game. i asked them, meaning sac and steve cohen, you know, his pr people, about this, whether they're playing the long game, all they would say is they have no plans, quote-unquote, plans to manage outside money now. we should point out that, of course not, they're barred. liz: yeah, what do you mean we have no plans? >> i asked them to deny the nub of our story. long run, is he looking to come back? they would not comment on that. so that's where we are right now. this is clearly steve cohen playing the long game, cleaning house. i think watch to see what happens with the general counsel, peter nussbaum. i think he's the only guy left of that senior management team besides, obviously, steve cohen who's not going to fire himself. that's where you are right now. very interesting situation there. liz: if you believe it long enough, it may happen. >> well, two years is not a long time. sits out two years, when is obama out? family dollar, dollar general,
who told you? liz: yeah. oh, you, darling. >> i told you first. liz: he's the man. charlie's the man. >> what stock is up today? liz: listen, family dollar's up, but dollar general, the acquirer -- well, the would-be acquirer. >> let's back up. dollar tree's down. on 6/6, june 6th, fox business network exclusively reported that as part of carl icahn's taking, i think, a 9% in family dollar -- liz: he took the stake in the one that's being acquired. >> family dollar. liz: correct. >> as part of that he also told us he believes there will be a merger or that dollar general should buy, that's a bigger one of these should buy family dollar, right? dollar general, family dollar. between that and now what happened? dollar tree came in and put a bid in, and now today what we have is dollar general putting official its bid in. if you listened to fox business and bought the stock that's in play, the bidding war stock,
family dollar, correct? liz: yep. >> how much money -- liz: absolutely right. and by the way, he broke it on this show. >> that's right. liz: on "countdown." closing bell -- charlie, thank you -- 37 minutes away. it is still summer, obviously, but tire companies are thinking winter. jeff flock is on the story of a company that's testing it all. jeff? >> reporter: hey, liz. i crashed a car last time, and we're trying not food it again -- not to do it again. come back and find out. stand by. ♪ ♪ liz: this may be you. we'll tell you how. and u.s. drones taking part in more airstrikes against islamic militants in iraq today. but there is so much more to the rapidly growing unmanned aircraft industry, the military drones. first up, coming up, first part of our rise of the drones series. we're speaking exclusively with this company, 3-d robotics and colin guinn. he is, bar none, one of the
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start your free trial today. ♪ ♪ liz: a shining light in the u.s. economy lately has got to be the auto industry, right? well, the rebound in that auto industry has helped drive bids, obviously, right? -- business obviously, right? in the tire industry. goodyear and cooper tire riding high on the tide of strong industry trends and strong u.s. car sales. those tire companies are also looking to cash in on last year's very harsh winter by getting -- who among us didn't have a flat tire or two? thank you. by getting drivers to prepare for the coming winter even though it's still summer. joining us now, our boy scout. be prepared, literally driving on thin ice is jeff flock. did you just hit a wall? [laughter] oh, my gosh. >> reporter: you know, it was a bmw, what was it, woody, that i crashed earlier? >> bmw 328i.
did some damage hitting one of these boards. seriously, tire rack, the leading ip get tester of tires -- and they do this, obviously, in the summer on ice, and we came along to tag along today, woody rogers ones the program, and your idea is to it sounds like a business ploy but actually makes a lot of sense to have people do both winter and summer tires on their cars. why? >> because that way you're appropriate for the season. the all-season tire has to be compromised to work in the consistent -- in the winter to work in the summer. >> reporter: the guy behind me going the same speed, and if i go a little faster, look what happens? i crash right through the dopes. this guy -- cones. this guy behind me has a specific winter tire. this starting to gain traction because -- liz: there's a cone stuck under the car. [laughter] >> i'm sorry. liz: keep going, we love it. >> reporter: my point is that
like the tire makers, like goodyear -- i'm about to hit something again. okay, hold on. [laughter] i've got it. they've done so much better than the automakers, the ford, for example, or from what the auto industry etf, much better investment. i think i hit another cope. well, anyway, obviously, there's a big difference between an all-weather tire -- >> all-season tire. >> reporter: right, woody, and a winter tire. i think i probably made that point one way or the other here. >> you're doing great. liz: jeff, can he game -- i mean, who's great? michelin? goodyear? >> reporter: oh, yeah. we're on michelins right now, right? >> at the moment, michelin. >> reporter: what would you buy -- what's on your car? >> every tire has a personality. there's not good and bad, we test them to find out if they match up with what our customers are looking for. >> reporter: there you go,
liz. they don't have a dog or a tire in the fight. liz: yeah. >> they don't sell you anything. liz: when you stop the car, there are about 19 orange cones under it. >> reporter: uh, yeah. well, you know -- >> brakes. >> reporter: whoa, whoa, whoa. you shouldn't drive on ice, that's just the bottom line. liz: tell me about it. >> do you have dedicated winter tires? liz: too many ice storms in columbus, ohio, i endured. jeff flock testing the tires. do you really want to switch out summer/winter tires? that, to me, is challenging. a closing bell rings loudly, and it will ring in about 28 minutes. the drone industry, though, is buzzing. it's rising very quickly. it could create more than 100,000 jobs over the next decade. that's if lawmakers and regulators cut some red tape and restrictions. it's part one of our special series rise of the drones. we're speaking exclusively with one of the industry's pioneers. 3-d robotics' senior vp colin
guinn, he's here to talk about the big opportunities and where they will be. we're always here to tell you before it happens, hopefully. and with stocks rallying, how should investors balance international tensions in places like ukraine with global growth? we weigh the risks and the opportunities with a money manager who's got 26 billion of assets under management. he's got one eye on his money and one eye on the news feed. ♪ ♪ she inspires you.
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liz: 131 more pennys and family -- 11 more pennies and family dollar will hit an all-time high. it's really holding most of its gains. the reason? an all-out bidding war. first, dollar tree came in with a bid of $8.5 billion for the company several weeks ago, but then, of course, you see you had dollar general coming in, upping the bid. everybody wants family dollar, everybody wants ashley webster to tell us who wins this one, ashley? what's happening? >> reporter: well, that's a good question. it's a dollar so far, and who's winning are the shareholders, liz. 21 of the s&p 500 stocks on all-time highs, these include marriott, walt disney, home depot. home depot, by the way, reporting second quarter earnings tomorrow before the opening bell.
expedia and then discount stores. dollar general trading at $64.20 right now, dollar general up, as you can see, 11.7% after making that more than $9 billion offer for, who? family dollar. right here, family dollar's stock up as you mentioned, liz, more than 5%. hitting an all-time high of $80.01. dollar general offering them $78.50 per share in cash. so the only thing i would say a little caveat if you like, trading has been pretty light today, but who cares? it's a great way to start the trading week. liz: yeah. exactly. august? what do we expect? it's a great story. thank you so much, ashley. i know the guys on the floor of the new york stock exchange would love this. we're calling it the rise of the drones. the huge growth of the unmanned aircraft business and what's fascinating is very little of it has been approved. spending on drones could reach
some $100 billion in just the next decade, and here's what a's also crucial. it will create more than 100,000 jobs. so don't we want to be at the forefront of this? pioneers like amazon, you'll remember the commercial they made? amazon's experimenting with drone deliveries right to your doorstep. that's fake, but -- [laughter] they've run into a wall of criticism from regulators and safety advocates. some of them have a surreal point here, but amazon has now formed a lobbying coalition to convince regulators, you know what, guys? just come up with a plan to ease restrictions on commercial drones. we'll follow rules, but at least let us make drones. one of amazon's partners, 3-d robotics which wants to bring unmanned aircraft to the mainstream market. joining me now to kick off our weeklong series only on fox business, rise of the drones, it's one of the industry's most respected flight and design experts, colin guinn, senior vp
of 3-d roboticment you've been in this business for quite some time. are we getting closer to the moment where, i guess, for better or worse these things will be buzzing above our heads doing all kinds of things from delivering panelings to tacos -- packages to tacos? [laughter] >> well, we'll see how close we are, that's a good question. but i think it's safe to say there'll definitely be a lot more of these things buzzing over our heads in, you know, two years from now than there are now. it's definitely growing quickly. liz: well, if you guys can help it, certainly your focus in the 3 p.m. eastern in countdown to the closing bell as we're doing rise to the drones, your specific focus is to sell affordable drones to the masses. okay, explain who needs these things and what you envision the drones you make would do. >> well, so when you say selling affordable drones to the masses, i would say as an answer to that question who needs these things? it's everything from the local farmer to, you know, to maybe an
insurance adjustor that foods to do a quick inspection of a roof after a hailstorm or a quick aerial photo of a crash on a highway or, you know, just somebody who wants to get aerial photos of themselves or their friends doing something athletic, outdoors. i mean, honestly, it could go on and on. in the commercial space, everything from inspection and work to compliance to just cinematography and getting aerial shots that were impossible before this along. liz: i see great applications for the real estate industry, but they don't want to rent a plane for every house that comes up, i can imagine. let's get to the possibility of this. first of all, the cost for most of your drones, we always like to ask how much things cost. >> sure, sure. so this one right now on 3-d r.com is our kind of out of the box, ready to fly solution. it's called the iris. and it literally has everything
necessary to go out and fly. you can fly it manually like all other drones on the market, before you can actually just take your tablet or your phone and say you're that realtor looking to get aerial photos or video of a house without having to hire a plane. you can have these prescripted flights where you say that's the house, and it will wrap around that house and get this beautiful wrapping shot of the home without you ever having to learn how to fly. they're getting more and more intelligent. >> and the cost. people always wallet to know how much these things cost. >> so this entire system ready to fly with the remote control, the battery, the charger and everything is $750. liz: $750. i can see at that price point a lot of people might want these things for fun, but then you've got the people who are very concerned about safety. this may take it a little far, but kanye west, of course, said he was very concerned that the paparazzi would start using it, flying over his swimming pool where he's trying to be private and it crashes into the pool,
and he envisioned, you know, this thing could fall right next to his daughter in the pool, could it electrocute her? some of these things are worry, and then, of course, the faa chimes in, and you guys are stuck in the water. >> sure. now, who is that, that you're talking about? kanye west? liz: kanye west is -- [laughter] >> i'm just joking. i'm just kidding with you. liz: oh, okay. hey, i never know. you've been working with the chinese for a while. you might be out of the loop here. [laughter] >> so, yes. people definitely have a concern of privacy, and, you know, i'm not going to sit here and say, hey, you shouldn't be concerned about that, but, obviously, there are privacy regulations in place right now for anti-peeping tom laws or invasion of privacy laws, and those same laws should absolutely apply to drones just like they would apply to a wireless baby monitor that somebody's putting in a fence to stare at him while he's in his pool or whatever. so there's a hundred ways you
can spy on somebody, and this is probably down toward the bottom of the list in terms of effectiveness because they're loud, they buzz, they have lights on them. they're really not a great tool for that, so i think that's just people not understanding the technology, and it's really common. the same thing happened when they first started putting cameras into cell phones. everybody got up in arms and concerned about privacy issues, and people realized they were just handy to have and there's not 10,000 or 100,000 would-be criminals that are just waiting for that technology to start spying on their friends. i think people will understand they are vast majority used for good. liz: you've got to come back when the faa green lights this if and when they do. >> they will. liz: i'll remember you said that. colin guinn, 3-d robotics in a fox business exclusive. continuing our rise of the drones series tomorrow we're going to be speaking with
aerovironment, the company is famous for making a teeny little drone that looks like a hummingbird doing probably similar things. yeah, what? so we're going to bring tim in for a fox business exclusive too. breaking -- this is coming from the ceo of dollar general, he's just made the following statement today during a conference call following his proposal to acquire family dollar, so this is just coming in, folks. quote: let me be honest with you, we have expressed interest in a combination with family dollar, quote, multiple times over the last few years. suffice it to say for someone who is supposedly involved this the process, we were very surprised by family dollar's announcement with dollar tree. ideally, one step further if i thought this asset was in play, probably wouldn't have announced my retirement. that, of course, is an interesting statement coming, icahn statement concerning dollar general's bid for family dollar.
ceo of dollar general just made this statement, so we told you this was going to heat up. stay tuned. we still have both the companies moving higher and, of course, the third moving slightly lower. closing bell about 14, 13 and a half minutes away. sometimes that game of rock, paper, scissors, how can you the investor remove that element of chance when balancing global tensions with global growth? the way to make money, that's what we're here for. how can you make money? next. investment strategy, jason pride. 28 with in assets -- billion in assets under management. he's going to give us some stock picks to help you win. dow jones industrials charging higher, so the is the s&p, up 15 full points. you're driving along,
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liz: if the markets were like a game of rock, paper, scissors, global tensions would be the rock, global growth would be the scissors, getting smashed by global tensions, but in a way the rock would end up winning. joining us now to tell us what that means -- i don't know where the paper fits in, jason, is that you? >> you know, i never got this game when i was a kid. i thought rock should beat paper and scissors, it's just one of those things. when we're looking at the economy and the markets, at the end of the day it's global growth and valuations that win out over everything else. anything else is simply a disruption from that. it can come around, it can bite you. it can definitely hurt for a brief period of time, but eventually what comes back into play is the global economic picture and the valuations. and when we're looking at the markets right now, we think valuations are reasonably fair. not some huge discount, but not extreme hi overvalue -- exalued. we think we're in the middle of
a long economic expansion. basically, we're back to normal on everything. nothing's overheated and, therefore, we have a long way to go. so we're pretty optimist you can, but we're constructive, and we're trying to make sure we're balancing the risks appropriately for our clients. liz: okay. you've got 26 billion in assets under management, and we're coming it's a five, six-year bull market here? you're not worried to say it's getting a little gray at the temples? >> here's the thing you need to recognize about expansions. we've had expansions that have been as short as 12 months to as long as ten years. liz: right. >> so just look at the age of the expansion that we're in. it momentum really tell you very much can be doesn't really tell you very much. it's like my 7-year-old saying that somebody's old. their range of expectations for what's old is from 30-90. it's a really wide range. liz: that is the best explanation i've heard of why we shouldn't be too worried this is a f market for the
small caps a little longer. okay, i wallet to get to -- i want to get to your picks. put them up on the screen. what do they have in common, and how did you decide to put these this your customers' portfolios? medtronic, u.s. bank corp., disparate businesses, all. >> yes, but the bottom line is profit margins and ability to grow their business organically within themselves. each of these operate in a business where they command fairly significant profit margins that are the best in class operators whether it's on the i. t. outsourcing and consulting side, the medical products side or the banking side, domestically oriented in the case of u.s. bancorp. even of them command a strong profit margin position. that allows them to create cash and turn it right back around and invest in their business to drive the revenue and earnings base. it doesn't require extreme economic growth, it doesn't require 4 or 5% economic growth. they can do this with 2% and
still at the end of the day produce very similar economic returns for shareholders. at the same time, you're paying very reasonable valuations for all three of them. liz: well, by the way, 4 or 5% economic growth, we just had 4% at least for one of the readings for the quarter. jason, thank you so much for getting in the chair for us. >> thanks for having me on. liz: jason pride, glenn mead director of investment strategy, strategizing for you. that was free for you, right? so put those names up on foxbusiness.com and also facebook.com/lizclaman. closing bell, five minutes away. "after the bell" we're looking at one company with some really solid ideas that could possibly help prevent the next ferguson from ever happening, and they're making money doing it. ♪ ♪ y. you are gonna need a wingman. and my cash back keeps the party going. but my airline miles take it worldwide. [ male announcer ] it shouldn't be this hard. with creditcards.com, it's easy to search hundreds of cards and apply online.
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liz: s&p 500 right now is at session highs. 2different companies hitting all-time highs in the s&p, add dam. >> we want to head to ashley webster to see what is going on. >> southwest airlines thanks to oil coming down, up 3.6%. republic services, union pacific, the railroad, up and equifax, credit reporter up 1% and lockheed martin, the defense contractor also up one 1/3%. good broad based gains across the market today. adam: ashley, nasdaq hitting 14-year high, yahoo! one of the top performers. how much is a alibaba boost. >> that could be, adam. there are top performance in this particular area. f5 networks, telecom company, autodesk which is software
design company. [closing bell ringing]. lumina biotech also doing very well. >> close to or highs of the session. bells ring on wall street. record for the nasdaq at least today was up 45 but the nasdaq hit a record for 2014 today. the s&p, right about the session high. in fact added another point to it, up 16 points. russell 2000 having just a great day, up 1 1/2%. guess what? we have a jam-packed "after the bell." it is starting right now. liz: adam shapiro in for david asman today. adam: good to be here especially on a day we're posting triple digit volume. charlie brady was harping, where is the volume. we have a portfolio manager who says stocks are not