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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  April 16, 2015 3:00pm-4:01pm EDT

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risk. so is a cook. a military personnel. >> i love my job. i love the wall street journal. melissa: very funny. that's all we have for now. "countdown" with liz claman starts now. >> i covered hurricane katrina. i love my job too. it's an ipo trifecta. three brand-new ticker symbols hitting the tape. homemade kraft. etsy. vert u. look at these numbers. etsy, 34%. party city, a gain of 20%. vertue financial, seven quarters percent. and can party city hold on to its gain? the ceo of party city on how he plans to fly as high as his miler
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balloons. goldman sachs crushing it. only one stock soaring at this hour. look up, it's a bird, it's i plane. it's a mailman now in custody. (?) we're finding out how on earth a postal worker flying an essentially homemade contraption penetrated the secure air spaces in the world and lived to tell about it. an faa official joining us on what went wrong and what needs to change to prevent it from happening again. with the worst outcome. let's start the "countdown." it's the last hour of trade. ♪ liz: we begin with breaking news. it's a retailer that has managed a very strong ipo. party central. ceo james harrison with us in just a moment. from handmade necklaces to cutting boards in
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state shapes, etsy jumping. peter barnes on the stunning news out in the last hour. the astonishing rise in e-cigarettee-cigarette use among teenagers. what the traders are talking about. mike norman with oil's latest retreat. but first a fox business alert. a good size warning sign is already being waved today in front of you the investors face. it comes from companies that have already reported earnings. they're missing on revenue, folks. as in they're notshowing organi. crude oil crossing 56.71. that coupled with the vix, fear gauge, falling to a low. let's to get the floor show. traders at the imex. new york stock exchange. cme. why does this matter? why is this a warning
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signal that the companies are missing on the revenue line? >> yeah, investors look at top and bottom numbers. they look at outlook moving forward. if we miss in any of these areas, investors will pull back on these markets. there will be more uncertainty coming into the market. economic data can only help for so long. once we pull back and get into earning season and dig down deep into how these companies are adjusting to current economic standards, current differentiation factors, all these things put together, we'll see now how these companies are profiting in this real world. >> current differentiation, i.e. very strong dollar. netflix. everyone is happy about netflix. of course, the stock responded well to earning numbers when it came to subscription growth. they said flat out on their front page, we had problems dealing
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with the strong dollar. citigroup. citi missed on revenue. how many do we have to see before it triggers a down move in the market? >> we'll get pretty good numbers coming out today. american express today. ge tomorrow. those numbers will give us good insight as to where we'll be in the financial sector. >> mike, to see in the aftermarket session a gain of 25 cents, but this number here, 56.44, where we touched earlier today. that's a 2015 high right at the close. fascinating, isn't i it? >> fascinating. but it makes sense. production in the united states, while it's been high, it's starting to come down. liz, rig count is down 40% in the last seven months. the other thing, there's a lot of attention now on saudi supply. very high. however, the saudis raised their prices and
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they're not -- you know, that supply is staying high because demand is strong. remember, there are two sides to this occasion. there is supply and demand. demand is strong. i think oil prices will continue to trend higher. liz: great to see you. so long. >> it's a blast from the past. liz: come on back. and john, we love you. >> always a pleasure. liz: thanks so much. there is stunning news out. it's a fox business alert. e-cigarettes. we've known that lately they've given big tobacco a second wind in many of their share prices. this disturbing news that came out in the last hour is how popular they are with teenagers. according to the cdc, this new report shows that cigarette use in teens fell to lows. but e-cigarettes tripling. the alarming new statistic is raising concerns that e-cigarettes may create young nicotine addicts who will go on to use
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conventional graduates later. peter barnes on what the government plans to do about this. peter: this new report means that two and a half million teens are smoking e-cigarettes now. one in seven high school students. and one in 20 middle school students. the numbers have shocked public care advocates. the fda doesn't regulate e-cigarettes as a tobacco product. after a court battle, it banned the sale of e-cigs to anyone under 18. working on final rules now. many states and cities have banned those sales as e-cigs create flavored vapor that can contain nicotine. nine out of ten daily smokers began smoking by age 18, the minimum age to purchase regular tobacco products. >> no form of tobacco, whether combustible or
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noncombustible is safe to use. that's primarily because nicotine can have health effects on the developing brain. it can lead to addiction and sane forms of tobacco use. >> e-significant advocates say they offer benefits as a substitute for regular cigarettes. all three major tobacco companies sale e-cigarettes. liz. liz: my 13-year-old came to me the other day and said, mom, there are seventh graders using drugs. and i said what kind? and she said e-cigarettes. i'm amazed the cdc got this and got this right and see what happens. can't be positive for kids. thank you, peter. closing bell, 53 minutes away from it. how did this slow-moving, primitive aircraft make its way
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through one of the most restricted air spaces in the world where the only shot taken of it was by a cell phone. a former faa official who knows the skies around washington like most of us know our own backyards. has an exclusive assessment and what needs to be done. if today is any indication, 2015 could be the year for party city. james harrison in this final hour of trade about being the life of a very public party. ♪
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>> a fox business stock alert. look at shares of sandisk. getting hit today after the flash memory chip maker forecasted a steeper than expected fall in sales today. fell two-thirds percent. it has to cut jobs. sandisk memory chips. what are they used for? smartphones. digital cameras. laptops and those little memory sticks. by the way, sandisk's stock. tough year. lost more than a quarter of its value this year since saying in january that it had lost a major customer. they won't say who it is. it's widely to believed
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to be apple. it changed at 67.77. tough day for sandisk. remember, it's almost a commoditized company. shares of etsy are going gangbusters to the upside after pricing at $16. shares of this open marketplace for craft. like handmade necklaces. shares shot up 120% earlier today. the stock now up more than 80%. will investors appetite grow for the handcrafted seller? what do the sellers themself have to say about the ipo? jo ling kent has the latest. i find necklaces there you may thall the time. >> a lot of sellers made it available. about 15% of the stock was available to individual investors. thirty dollars a share it opened at. spiking more than 85%. this brooklyn-based
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marketplace has never generated a profit though. posted $15 million in losses last year. then again, revenue jumps 56% last year. taking a closer look at the numbers, 20 million active buyers on the site. 1.4 million sellers. we met one of etsy's top sellers called a heirloom. they make custom cutting boards in new york. they're a classic success story. (?) i asked them about how far they've come. >> last year, we sold 13,000 cutting boards retail and wholesale combined. all told for the last five years, four and a half years, it's been about 50,000 retail boards and about 20,000 wholesale boards. >> and you started? >> making one. two for our wedding. >> we're talking about two cutting boards here. if you're thinking about getting into the stock,
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you should know it's a ripe acquisition target. neutral. this is a certified b corporation. a benefit corporation, which is basically an organization that places environmental and social standards very much aligned with their -- their hopes to make a profit, liz. liz: the cutting board story is great. don't get one in the shape of florida. not much room to cut. >> or hawaii. right? liz: tiny little island to cut an onion. >> you can get it. liz: an acquisition target already. fascinating. etsy wasn't the only company that got the party started. party city, surging 30%. just slightly below that. it has more than 800 stores, there is competition. seventeen-year company veteran ceo james harrison on what the ipo means for the company and its future. >> we're very excited.
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obviously going public. big day in our company's history. and we're excited to share the next chapter of our growth. the next chapter of our story in the public market. we really are. liz: what is that next chapter? you already have hundreds and hundreds of stores. more than 8050 850 stores. >> sure. first off, we look at the us and canadian market, 200 of our stores are franchised. we see opportunity for another 300 stores in north america being defined as canada and the u.s. we also see the opportunity for franchising stores outside the u.s. more importantly, we have three levels to our business. a manufacturing component. a retail component. that creates a great paradigm. not a lot of retailers who are oriented the way we are. if you look at our model, our manufacturing
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operation provides roughly 20% of that which is party city. and we operate each city -- additionally our wholesale business provides about 50%. >> okay. >> more importantly, those businesses have other customers. liz: for me, i think it's really interesting that you do have this vertical integration. and to kind of translate that for our viewers. you guys make 70% of all the products that go into your stores. so you have designers who can figure out what the trends are. you don't to have wait for suppliers. am i correct? what are the new hot trends? >> the new hot trends are wearables. we're changing the party dynamic. historically parties involved decorating the table. providing paper party goods. all the last several years, we gained expertise in costumes. we're taking wearables to new levels.
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we're offering for all the seasons as well as for birthday parties. you'll find year around dress ups so you can have kids birthday parties and kids dress up for their birthday, not just halloween. >> that would be perfect for party city in many of its locations. there are always competitors nipping at your heels trying to shove you off the track as you run along. michaels and also oriental trading. were you concerned that that's a business that might start fill a gap if you guys stumble? >> well, if you think about our business, we have a lot of barriers to entry. we have 40,000skus. we discover a broad level of products. (?) additionally we're in 40,000 rooftops around the globe. not just in our own stores. without our own stores, 650 million-dollar
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business. we have 130 designers. as you mentioned, 900 stores. we have significant barriers to entry when you look at the competitive landscape. one of the unique things about us, we don't have a national competitor in the party landscape. >> i have to ask, the balloons. the helium balloon business is massive. can you break out those numbers? what are the most popular balloon that people order? >> we have roughly a 60% worldwide market share of those balloons. we manufacture them in minneapolis. the most popular balloon is the red heart on valentine's day. valentine's day is the number one day for balloons. >> the heart shaped balloon. the stock is flying like it has helium in it. nineteen and a quarter percent for party city. can morgan stanley ceo james calm an uprising swelling up at the firm?
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charlie gasparino coming down with exclusive details on morgan stanley. huge victory for the brooklyn nets. they squeak into the nba playoffs. how much money does that mean for barclay center's owner bruce? we talk about that as well as a cause for him. the museum heritage on the holocaust day. with bruce live. ♪
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♪ liz: a fox business stock alert. we've just got 36 minutes to go before the closing bell rings. and everyone is saying how the grains have been so weak. as we see the markets with a spotty record today, most of the grains in commodity land are actually moving higher. charlie: do you eat a lot of grains?
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liz: i eat a lot of grains. i'm not supposed to. i'm on the gluten thing. can we see the grain thing? charlie gasparino is here. we had to talk about the dang grains because you weren't here in time. charlie: i was sitting right here when you started. i was like on the phone because -- morgan stanley coming under some heat after james gordon jumped up his salary and topped it with 300,000-dollar cash bonus. liz: that's why you don't read a prompter. >> bonuses at the firm are way down, and they're not happy. our very own liz claman joins us with the details. liz, take it away. liz: let's get to morgan stanley. charlie: see, you don't have to work. i read your stuff for you. liz: nothing wrong with james gorman getting a raise. charlie: we think he's a great
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ceo. rebounding from the financial crisis the last couple of years. no doubt about that. there he is with his lovely wife who i met too. liz: she australian? charlie: no, she's australian like him. one thing going on, i'm not making a criti critique of james because i like him. there is a civil war. a toxic environment that engulfed morgan stanley particularly in the aftermath of him getting that raise. he's making 20 million this year. one of his number two, tom kelleher who runs the institutional side of the business walked away with a 2 million-dollar loyalty bonus. all while the brokers are seeing their comp -- a new comp structure. which is essentially cutting their comp. they are now making less money. or they have to jump through more hurdles to make as much money as they made last year. these are complicated formulas.
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i won't sit here and describe them to you. there is a formula for broker comp. and they're mad. what we're hearing from major brokers. (?) there could be a major exodus leaving the firm. now, the question becomes, you know, where do they go? the grass is always greener on the other side. that's true. and that's preventing -- stopping a lot of major producers from going. between kelleher's 2 million and james gorman, his raise -- the brokers say he deserves that money because the engine of the firm that created that bonus, that created the environment for him to get that money has been the brokerage department. morgan stanley has the biggest brokerage department in the company. >> they're saying let it be a meritocracy. >> they point out to me that most of gorman's pay is based on the long-term incentives and things of that nature.
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what we're hearing now, there is bad stuff going on. people laugh at john, the guy at merrill lynch about the hippies and making people eat wheatgrass and all that. and there's other stuff. every one of these places has their garbage to deal with. this is bad stuff right now at morgan stanley. by the way, gary, we should point out. she's joining scaramucci on wall street week. >> that is fantastic news. he'll join us too? charlie: i should ask him about the toxic environment. he works in a brokerage environment. >> thank you so much. charlie: congrats to gary. >> closing bell 31 minutes away. another stunning breach of security in our nation's capitol. is the us equipped to deal with more serious threats than an older guy and a handmade gyrocopter? we have one former faa official on what needs
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to change. by the skin of their teeth, a miss is as good as a mile, the brooklyn nets beat the magics to make it to the nba playoffs. a fox business exclusive. we've got bruce ratner the majority owner of the barclay center. a stunning revelation in his life. an important cause. the museum of jewish heritage. he reveals a stunning revelation live when we return. ♪
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♪ liz: we've got breaking news right now.
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douglas hughes, the man who piloted that gyrocopter that landed on the capitol grounds has been charged with two offenses. first, with violating national defense airspace. secondly, of operating an unregistered aircraft. an unregistered aircraft. now, this incident wasn't the first time this year that a small aircraft landed on restricted grounds. back in january, a man lost control of his drone, and it landed on the white house lawn. joining us now from washington, dc, scott brenner. so now he's been charged, but right off the bat, we have to ask you as a former faa official, we have to prevent this from happening again. somebody could have a bomb. scott: they could have a bomb. but it's unlikely. the system that is set up in the washington area, and we've had lots of experiences. and we've been able to kind of fix all the initial problems that we had. but it's always been an issue of coordination. who is responsible for what. it's been decided over the year that really
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norad. the department of defense is responsible for the security of airspace in the washington area. we're looking for, what are the major threats? what are we really concerned about that will do the most damage? a fellow in a gyrocopter is not high up on that list. liz: i know. but, scott, i'm surprised to hear you taking this tone. but i'm glad. you're calming people. to be fair, he was flying under the radar. i may sound like an idiot for asking this question, do we need to lower the radar? anyone can come in with what i understand is an easy thing to build. a bomb with some type of, you know, smallpox. there could be anything in it. scott: sure. and these scenarios always come up. and we're always looking at, this is the classic -- dhs mentality. what are all the different things that can happen? well, you can't really address each one of those. you really have to focus on, who are the individuals that are a threat? and clearly this fellow
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was very open about his plans. and secret service had a visit with him a couple of times. and he even went so far as to basically announce via his local newspaper that he was going to take this mission yesterday. the paper calls the secret service, and the secret service basically takes no action. i think that's more of a serious threat than a fellow flying his homemade helicopter down the national -- liz: you're revealing things that our people didn't know. the secret service knew this guy was going to do this and they didn't take action. that's a problem? scott: it's a very big problem. they went out and visited him and said, what are your plans? what do you want to do? he was very clear. he said, i'm not happy with his political issue. and i want to make a big statement. and they asked him, do you own a gyrocopter? and he said, yes, i do. and nothing happens. he drives up to pennsylvania.
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liz: yeah. scott: gets into his gyrocopter. and slowly methodically starts making his way to the washington area. his local newspaper calls the secret service and says our guy is flying towards the national monument right now, do you have any estimate? the secret service says, we have no statement. let me talk to capitol police. capitol police said they had no idea that this guy was coming. it was a surprise to the local authorities. liz: if the secret service isn't going to take action, the faa needs to step up. will you join us again? scott: absolutely. >> he's a former faa official. he's saying the secret service looks like it fumbled this one in part. the controversy still raging just weeks after israeli prime minister benjamin netanyahu spoke before the us congress. it was this line in his speech that struck a major cord with jews around the world. listen. >> the days when the jewish people remain passive in the face of
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genocidal enemies, those days are over! [applauding] liz: it was that line that affected our next guest the most. real estate magnate bruce ratner. executive chairman of ratner companies and chairman of the museum of heritage. which is the holocaust remembrance day. you came upon a stumbling revelation about your own family. what do you find? bruce: i did. my grandparents essentially passed away before i was born. i never had a chance to ask them certain things. our geology showe genealogy shoe lost 120 members of our family in the holocaust. cousins. great uncles. brothers and sisters of my grandparents. cousins of my parents. my father came from eastern europe. my mother was born here. the rest of our
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family -- liz: 120 relatives murdered by the nazis. >> 120. teenagers, children all over the country. from vilna. to yo auschwitz. this one area where 38 of my relatives were murdered in a pit. and you see that it's -- you know, i must say, netanyahu's comment really obviously rings strong and true. liz: oh, my god. it was that one line. and it was affirming that so many of the members of congress really got it. they stood and up they cheered. you know, but the fact is, you survived. some of your relatives survived. and your surviving children, we can show pictures of this. the fact is that today on i don't mean had a sha ma you as a leader, this is what matters
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today, isn't it? >> it is what matters. and i'm chairman of the museum of jewish heritage. (?) and it's a living memorial to the holocaust. you're exactly right. we are here. we are alive. we are thriving. whether it be our technology in israel. or whether our charity and
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>> i will always have control. >> let's not forget the new york islanders. they've squeezed in the national hockey playoffs here. you won the bid to redo the
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nassau coliseum. >> we're going to fix up the nassau coliseum. >> who will be the first act? scott: i' bruce: it's very special. i'm not going to tell. that's the right question. it's already scheduled. it will be a wonderful surprise. liz: well, strie streisand? bruce: it's already scheduled. let's get a great act. we'll have a great one. liz: you've done other things for brooklyn. you've done the low-income housing. and obviously the paramount theater. (?) that rehabilitation matters to a lot of people in brooklyn. bruce: it's a theater from 1936. one of those beautiful theaters that can be restored. half there already. we're going to restore it. it's going to be one of the great venues in this country. liz: how do you think this country is doing? the economy? there's a tendency to get very partisan, especially with an election coming up in
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2016. how do you feel we're doing in america? bruce: compared to the rest of the world, we're doing well. how are we doing generally, we've done quite well over the last year. we just need to sustain it. shaky over the last month. i think it's an anomaly. we've done quite well over the last few years. strong employment. wages need to go up a little bit. a lot of things are coming back. we have to make sure it stays that way. our energy situation looks very good. energy independent within the next 15 years. which is extraordinary. extraordinary. there is a lot of great hope for this country. our biggest difficulty is partisanship. along with a nice economy and a lot of nice things, we have this partisanship. and bad politics will hurt everybody. and that's what we have going on. bad politics. meaning partisanship. and we need to fix that. probably number one. and i'm not somebody -- i'm not a republican or democrat. i don't want to blame.
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it's just the system right now is not working for us the people. that's the problem. >> bruce ratner. executive chair. i have to tell you, on this day, you are living proof that the jews fight back and you are a success in its true form. thank you so much. bruce: as you are too. liz: i made it too. bruce: to be honest. >> we're still here. bruce ratner. executive chair. chairman of the museum of jewish heritage. come visit if you're in new york. bruce: thank you so much. >> closing bell ringing in 15 minutes. have you ever seen this film darbie. small is bringing in the gold. small caps on fire. we have the king of small caps. we'll ask him if it's time to tell if there is still room to run and which small caps are the best golden nuggets for your portfolio. stay tuned. ♪
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♪ liz: we have breaking news right now. and we have just about 11 minutes to go before the closing bell rings. very important things you need to know with just 11 minutes left. nicole petallides is on the floor of the new york stock exchange. what traders are buzzing over there. larry with the most important headlines. the small cap king. you're in a good place, eric. eric will tell us which names he's buying and selling. nicole, i want to begin with you. a choppy day. moves to the downside for the high-flying russell. nicole: that's right. and we saw the russell hitting all-time highs this week. we're watching earnings, earnings, earnings. netflix coming in with more subscribers. over 62 million subscribers. yoall-time record high. that's a big mover. united health leading
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the dow jones industrial average. great earnings over the quarter. doing great. that is up 3.5%. netflix up 18%. goldman hit a high. 20287 on great trading revenues. that stock pulled back a bit. more earnings to watch. we'll watch those in the 4:00 p.m. american express. advanced micro. and schlumberger. liz: and party city is up 20%. and etsy, looking up. nicole: that's 100% for etsy. right? liz: people are crazy. larry, the most important thing in the pits that's happening with about ten minutes to go. >> energy. crude oil. up a half percent. everybody wanting it in the 40s isn't getting their wish. opec said the demand is higher than they thought. liz: do you believe opec? >> yeah, it's crazy. liz: you just don't know.
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that's a situation where we don't know. they're constantly lying. i agree with you. at least the momentum going to the upside for oil at the moment. the russell 2000, down today. the phrase, go big or go home. look, it doesn't always apply when it comes to stocks. that russell 2000 while down today, it's been the leader of the pack this week hitting all-time highs two days in a row. if you're looking to actively manage your portfolio, meaning getting in there and looking at specific names, small caps can make you a lot of dough. eric marshal. here to tell us exactly which small cap stars to be buying right now. (?) your fund, three-year performance, 20% over three years. the five-year looks very strong. 19%. i have heard time and time again, the small cap run is over. is it now? >> no, we don't think so. the market at the
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all-time highs, you have to be selective. you have pay attention to valuations and pay attention to what's going on in the businesses. the small cap space is unique. you can find secular growth opportunities. you can find companies that are isolated to what's going on geopolitically and are less sensitive. >> why such a powerful move in the last couple of days? >> well, i think everybody is getting ready for earning season. i think we could be surprised. the analyst estimates right now for first quarter earnings are very pessimistic. so i think in some areas, you'll see earnings hold up better than expected, given the weather. given the currency noise. also, we've seen a real pick up in m&a activity here in the first quarter. and that's positive for the multiples and small cap stocks. >> people want to pick your brain. i'll do it for them. three favorite names in
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small cap land. >> several that we like and own in the hodges small cap fund and the hodges intrinsic value fund. which is our small cap value fund. are american eagle outfitters. the teen retail space has really been a disaster over the last few years. and it looks like american eagle is really emerged as one of the winners in an area that has consolidated among retail. american eagle has a couple dollars of cash. no debt. and the ability to generate pretty significant earning recovery over the next couple of years. new name in our portfolio that we like. in addition to -- liz: us concrete i see. kree as well? >> yeah, kree is one of the leaders in led lighting. they make the chips and lighting products.
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that's an area that's been somewhat misunderstood out there. given the fact that there's been so much capacity added a few years ago. the markets really had too much capacity. however, demand for these led lighting products have been growing double digits over the past couple of years. we now see the supply and demand reaching the equilibrium. we see very good earning power going forward looking out over the next two years for kree. liz: we have to stop you here. i'm so sorry. we have breaking news. so our thanks to eric marshal. hodges fund. there is douglas hughes. the man who piloted that gyrocopter that landed on the capitol grounds yesterday. he is just now leaving the courthouse in the district of columbia. he was charged with two offenses readily related to his fence. first, violating national airspace. landed on the capitol lawn. secondly, operating an
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unregistered aircraft. which he flew that thing, by the way, all the way from get gettysburg, pennsylvania. our faa expert just a few minutes ago said, the secret service knew all about this well in advanced. he has reports that the secret service failed to move on the threat by this man to do something like this. so you can blame the faa all you want, but somebody knew apparently at the secret service department. as the details become available, we will get them to you. dow has just turned negative. we're down eight points. so much fort gains we saw earlier today. the russell struggling all day. gold is down $2. oil better by 21 cents. s&p lower by two. after the bell is starting in a moment. breaking news. you can't miss this. american express, a widely held stock in many portfolios, reporting its latest results.
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we'll see how it stacks up. the news ahead. stay tuned. ♪ the real question that needs to be asked is "what is it that we can do that is impactful?" what the cloud enables is computing to empower cancer researchers. it used to take two weeks to sequence and analyze a genome; with the microsoft cloud we can analyze 100 per day. whatever i can do to help compute a cure for cancer, that's what i'd like to do.
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liz: all major indices lost the air. david: they have. but we got a lot more air coming up in this hour. we have some very interesting companies reporting. american express, schlumberger, what is happening. you saw what happened yesterday, when oil came up in price. so did companies like schlumberger. we'll see how they did on their earnings. liz: let's go to nicole. she has been watching the price action all day long and really the attention is going to the three big ipos. all seeing major gains a good day to go public. >> a mouth, absolutely. party city, virtu, and. party city, up 17%. it was a party here. david: you're partying with netflix, particularly if you bought it five years ago. well up over $550.
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a huge jump. >> a talk about a stock split. david: unbelievable. [closing bell ringing] liz: on a day where we saw dow up a points. it has been squandered, gone. red on the screen as we watch markets close. not a surprise to see it pull back a skosh. david: skosh? liz: technical term. david: next guest has a hope for small and mid-sized caps. "after the bell" starts right now. david: let's get right into today's action. we have pete benson, beacon capital management. he will tell investors which headwinds to keep an eye on. joe bell, schaeffer's investment research. here to talk about things the earnings season will tell us about the economy in general.


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