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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  April 29, 2015 3:00pm-4:01pm EDT

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the market down 57 points. "countdown" with liz claman starts right now. i'll take it melissa, thank you. the fed speaks, stocks take a dive, recover and repeat. marketses are trying to make a nice comeback, what caused investor jitters? if you haven't been the victim of a hack attack, sad fact is you will be, and that distant and growing possibility juicing will profits of the high-tech company doing its best to keep the bad guys at bay, and helps a huge chunk of the internet industry. all the video you watch. shares up more than 36% over the past year. the ceo is our live best. calm seems to be returning to the streets of baltimore, that's extending to the game between the orioles and the chicago white sox taking place right now at camden yards. you can pretty much hear a pin drop over there. no fans! we're loud and clear right here on fox business. the last hour of trade. let's start the "countdown."
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breaking news at this hour, sales has just reopened after being halted due to extreme volatility on a market rumor it might be signing up bankers to explore options. it reopened, had been up 5% when halted, reopened, now up 12%. ticker symbol crm, nicole petallides on the floor of the new york stock exchange with the breaking news on crm. tim kaine with us to read between the lines of the fed statement and whether the u.s. economy can come back from the dismal gdp number this morning. former undersecretary of state bob hormats why japan's prime minister's address to congress is crucial to america's jobs. we have a crumbling dollar, we have all kinds of bond yield movement. luke is monitoring the energy markets. to nicole first, what is
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happening with crm and the markets. >> watching the stock obviously, halted, volatility pause is what it's called, it was surging, this is all on the news which we found out that they had hired bankers, and that was on a potential takeover offer that there was, in fact, a suitor for crm which is the question is who would be the suitor? and there are reports, take a look, that stock is telling, so the stock by the way moves to a lifetime record high of $78.46 and the market cap surges to 50 billion. who are the suitors? take a look at the stocks and names thrown around, including oracle. look at this oracle chart intra-day. quite volatile. you will see it pop up and move to the down side on heavy volume. keep an eye on microsoft and also sap. those are the three names thrown around as potential acquirorers. is it true? nobody knows, did you see stock movement in oracle and
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microsoft in particular, as they would make the push into cloud computing business services over the internet. business software and services over the internet. this is a story that is developing and we'll continue to watch. liz: kind of interesting, it's up 5%, halted on the bloomberg report, and then when it reopens, it doubles the jump. we will be watching salesforce closely. the u.s. economy, we need to look at that, slowed to a crawl in the first quarter and the federal reserve has taken the timing of any interest rate off the table. joining me now live from stanford with reaction to the dramatic developments, economist and research fellow at the hoover institution, tim kaine. how did they do it? they removed all comments and references between june and september, didn't they? what is the market to read from that? well, i think the fed's been offtrack, and i think they would stay focused on inflation and not look so much at what's happening with one quarter blip in gdp, and not much they can
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do to affect gdp growth other than press the gas pedal a little faster. it's a problematic report but i think it's part of a longer term trend. we've had six years of a sluggish recovery. liz: i found it interesting, the new word introduced was transitory. talked about how the slowdown in the march jobs report was transitory. we decided to look up on merriam webster's dictionary, transitory means lasting only for a very short time. you've got to believe they're perceiving low oil prices, that's transitory. what else? a stronger dollar? started to crumble and pull back, not to mention a few other issues like the leaked march jobs report. >> and i think of the root word here being transition which is scary. what is the economy transitioning to? they're emphasizing this is traefrment and i -- temporary, and that is good, more
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stimulus, whether it's fiscal or monetary, which the federal reserve controls, it really hasn't yielded the results, and i think ultimately they have to worry about, as crazy as this sounds, creating another bubble with too easy money. liz: yeah, and that's what happened immediately. i think the market was confused. let's bring in floor show traders. gang, as you looked at what was happening at that moment, 2:00 p.m. eastern, suddenly they're saying transitory issues, doreen, welcome back, ms. thing, great to have you. >> thank you. liz: when you heard, that you saw the market dive, come back, dive, and attempting to get closer to the flat line, what was the first thought about what the fed was really saying? >> at first i had to read it. today everything is about the nuances of the language. and i think after i read the statement which was fairly short, it's pretty clear they're focusing on jobs and inflation. and i think people wanted to take that minute we saw that move down and the back move up
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to read the statement and look at the wording of it. i think it's a little ambiguous, though they feel they're going to maintain the way things are now, i think if this job market were to improve at all, they would be quick to move. that's the way i got it. liz: chris, we looked at reaction, number one, the banks immediately jumped to session highs. we saw weakness in the dollar, which makes absolute sense, because when the fed pushes out even further, a tightening of a rate hike, the economy isn't as good as expected. usually dollar negative. we can see the market reaction, the treasuries, the 10-year, the yield and the ten year was above 2%, but before this decision, why do you think the movements were happening like they did? >> well, we're digesting. people have anticipation in front of what the fed was going say. the morning we had the move off the gdp. the dollar index broke about a penny, penny and a half. made a new two-month low.
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that was the big thing and we waited and waited, so the fed came out. when the fed came out and stood pat and kicked the can, the markets caught a bid. the s&p caught a bid and the futures caught a bid. that's where we're at. stuck in the range and looking for the eventual breakout, until then we're watching volatility, and next friday, a week from tomorrow, another unemployment number, that's big. if that's what the fed is looking at, that's going to move the market. liz: that'sa important, and also just a quick reference on the dollar. $1.11. euro hit an eight week peak. interesting to see this behavior and might be reflected in the current quarter's earnings. get to luke at nymex. we see strength in the energy complex. crude moving higher, everything, brent, heating oul oil, rbob gasoline, everything. >> the bill wasn't as big as we
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thought for the second time, wti rally. and with unlead gasoline, we're hitting five year lows on inventories in unleaded gasoline, coming up on the summer driving season, and all the geopolitical stuff you cover every day, that's giving oil a real bid and oil is moving higher. liz: great to see all of you, thank you for joining us on the floor show. the markets are going back to the lows that they saw. not session lows, but the lows as the fed announced its nonannouncement. i like to call it that. big stuff happening in washington, d.c. a first for congress and japan. japanese prime minister shinzo abe walking onto the congressional floor addressing a joint session of congress earlier today. there to rally support for the transpacific partnership. that would open trade between the u.s. and 12 pacific nations. prime minister abe has president obama's support on this, but not a lot of democrats, because many of them in congress think the pact will be a jobs killer. interesting.
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the president is in a weird decision, he's depending on republicans to get this passed. what will need to take place for congress to give the go ahead overall? bob hormats former under secretary of state for economic growth, energy and environment, joins us in a fox business exclusive. should we like this transpacific trade partnership? anything wrong with it? >> well, it's still not complete of course, they have to negotiate the final details, but if it moves in the direction that it is moving now, it will be very positive for the united states in many ways, and that is we need exports in order to create new jobs and strengthen innovative new companies. that's where we are going to get growth in our economy and growth in our employment. and many companies in asia have impediments that we need to deal with. intellectual property protection issues, questions of transparency and the way they
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structure their regulations. workplace standards in some cases are deficient and need to be improved, environmental standards. if we can create a level playing field and greater confidence for american companies to be able to expand opportunities abroad, it will create jobs at home. the danger to jobs at home is very, very low because with half of these countries, we already have free trade agreements. goods come in free of duty in any case. liz: anyway. >> we stand to benefit quite substantially. i think the president's right. we want to be able to export more cars. we want to be able to export more agricultural products. all those things are important, but we need to do this in a negotiation where other countries open up the markets. liz: specifically japan, bob. japan has barriers to the united states really getting a toe hold into the auto market. they've got huge auto companies. toyota among them, very important name there, and i
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suppose when i look at this, i remember the 90s when japan was dumping very cheap steel here in the united states. so it's a fool me once, shame on them, fool me twice, shame on me. we don't want to be burned by this again, and yet we want free trade. it's the best thing, open trade, is it not? >> i think it is for us and virtually every other country. the key point is that i do believe the japanese want to make a deal, and prime minister abe has been moving ahead along with great support from the business community and many other factions in japan to have a deal here, and they are willing to make concessions to further open their markets. the fact, is however, they don't want to put a final deal on the table until the united states has fast track or tpa. they don't want to have their best deal put on the table and the u.s. says, well, we're going to have to go back to the
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congress, the congress will change this point or that point or the other point and then the japanese government looks embarrassed back home because it's put its best deal and the u.s. government continue toss up the ante. the goal is to get a really good deal from japan, have them open up, but they're not going to put their best deal on the table until they're sure we have fast-track authority. liz: of course, and in the end, the resistance right now is coming mostly from the democratic side. that has to be overcome. it will take several months. we need to ask but iran. yesterday iranian ships in the persian gulf fired shots and took over a commercial ship, and right now it's a very tense situation. we have a u.s. destroyer there. u.s. former under secretary of state have got to have an opinion on this. it is extremely worrisome and feels almost like the tension is way more than that. the iranians look like pirates, they've taken the ship itself. >> well, this is really one of the problems that the united
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states has in its negotiations with iran. one question is who's calling the shots? there are different factions in iran. liz: true. >> some of them are -- want agreement on the nuclear issue. some of them probably as soon not have an agreement on nuclear, and therefore they would be more inclined to exercise their naval muscles and of the kind they've been doing. this demonstrates all, i think it's important to get a good nuclear deal, but i think it's also important that we not look at this in a pollyannish way. we still have very, very serious differences with iran on yemen and many other parts of the world. they support hezbollah for instance. there are a lot of things they do that are very detrimental to regional and american interests. so the question is can we reach a good deal on the nuclear side, but also continue to put pressure on them on these other regional issues where they're doing things that are very
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damaging, and we have to demonstrate with our friends, the saudis and the israelis and other countries in the region that we're still staunch allies in combating whatever iran is trying to do to stir up trouble in the region, and overthrowing and undermining yemen, which they have done, is very harmful to our interests. it allows terrorists to use yemen as a base, it hurts our friends the saudis and other countries in the region. liz: i couldn't say it any better. that's true. this iran nuclear deal is not in and of itself a separate issue. you've got to weave it in with all the other tensions. bob, thank you very much. >> i think we can get an iran deal on nuclear but have to focus on thwarting the iranian objectives and other parts of the region. that's going to be a very tough effort on the part of the united states. liz: bob, good to see you, thank you. >> thanks for having me liz. >> vice chairman of kissinger investment associates and
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former under secretary of state. hackers get more and more sophisticated and brazen, it's actually good for business for our next guest. we will tell you why shares of his company he founded are up more than 25% or just the last six months. a 43% year-over-year. and is baltimore the new normal? the baltimore orioles will have no fans to cheer them on as they take on the chicago white sox. stay tuned. we'll tell you what's going on. when a moment spontaneously turns romantic, why pause to take a pill? and why stop what you're doing to find a bathroom?
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. liz: let's get you a fox business stock alert. want to buy prestigious hotel chains like the st. regis, sheraton. starwood owns those and is exploring strategic alternatives end quote, no option is off the table. apparently putting out a "for sale" sign for properties. starwood worth about 14 billion dollars. stock up 16% on the news, now up at this second, 7.63% for
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starwood. the dow industrials block dropping down 100 points, now down 67 at the moment. starwood not feeling that at all. used to be the only things certain in life were death and taxes. now it's death, taxes and getting hacked. that is actually possibly very good for akamai technologies. akamai reporting earnings that top wall street estimates as it pushes hard into the security software and timing couldn't be better. earlier attorney general loretta lynch outlined cybersecurity as a top priority for the nation. listen. >> i firmly believe that cybersecurity must be among the highest priorities for the department of justice. and that is why as attorney general, i will seek to build on the already outstanding work of the women and men of the department. liz: akamai ceo and co-founder tom leighton joins us now. perfect timing, tom. loretta lynch clearly understands this is an issue.
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some might say late to the party, you've been aware for a long time. >> this is a big deal, pretty much every enterprise has to worry about cybersecurity. there's a lot of malicious entities trying to bring down websites. steal confidential information like credit cards and to corrupt content from news sites to put their story on your site. and akamai's job is to prevent that. liz: how are you guys doing that as the let's build a better mousetrap people out there, meaning the hackers get smarter and smarter? >> our approach is different. we defend websites by intercepting the traffic close to the origin of the malicious entity. so that we stop it before it gets anywhere near the data center where the website is or the sensitive information is. liz: sony could have used that. >> there's a lot of companies that are using our solution now. that's why it's our fastest growing business. liz: you said a lot of attacks. that's an understatement. it's a monstrous number, is it not? go back to the winter olympics,
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that's where you were involved heavily, correct? what were you seeing? >> we see hundreds of attacks on a daily basis and getting larger and more sophisticated and we had a great track record defending the olympics, but not just sporting events but the world's major banks, many use akamai for their defense. liz: you helped stream about 30% of what's going on in the internet, too. how do you go from being a heavily weighted on the services side company to maybe a products business too? >> yeah, well, we are heavily invested in media delivery, a lot of buzz and excitement there now as broadcast tv may be moving online. liz: maybe? hbo is going that way, seems everybody is rushing to do that, tom. >> we're right at the cusp of a lot of action with video moving online. that's really exciting for us. we carry a lot of that traffic. but web performance. doing business online, making it be really fast, even if you're using a mobile device in
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a crowded cellular network. that's a hard problem that we do a lot of progress on. liz: a quarter of your revenue comes from overseas. you're a big international u.s.-based company. the u.s. dollar has been very strong. today it's dropping like a lead balloon. you went to princeton, m.i.t., some of the smartest people can't figure out how to hedge against the stronger dollar. has akamai? >> well, we have a little natural hedge in that our xepss are overseas as well. you are right, when we're selling services overseas in the foreign currency and translate that back into dollars to report revenue, when the dollar is strong, we're reporting less dollars of revenue, so it makes our growth look slower, so we reported 16% growth on revenue but really it was 20% in the core of the business. >> what is the most exciting thing happening in your realm? >> security is exciting. liz: security?
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but it is, it's the hot place. >> security is huge and important, and hard and we're making great progress there. liz: akamai's co-founder and ceo tom leighton, come back. >> i'd be glad to. liz: the hacking thing is not going away. closing bell, we're about 36 minutes away. looks like the end of an era at barclays and could mean hundreds of brokers will be on the movement charlie gasparino has the exclusive story, he's coming down here now with the dirt on this. plus why, is the outspoken ceo of t-mobile keeping mum about the horse race in the wireless world. john legere could be crowing but not just yet. he tells us why, coming up.
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. liz: barclays reporting a profit in its first-quarter earnings early this morning. this is a u.k. based bank. shares taking a small hit, six pennies, after opening way down, it did rebound, but what did the earnings report leave out? charlie gasparino found out. he's got the exclusive details. >> what sources are telling us inside the bank is barkleys plc, the big one, is looking to sell u.s. wealth management unit. this is a fairly small part of the bank but significant, the old lehman brothers wealth management unit. the brokers of lehman brothers. liz: one block away. >> block away. bought by barclays in 2008 following lehman's bankruptcy filing. brokers at barclays are told by management don't jump ship. a lot have jumped ship, gone to other firms.
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don't do that, stay where you are, this could be sold and you will be getting, instead of jumping ship and getting up-front bonus to leave to another firm like morgan stanley, you stay here, you will get a retention bonus. we need to confirm from inside barclays that this is for sale. i can't tell you how much this is going to go for, they have about 47 billion dollars of assets from wealthy u.s. clients. it has approximately 18 brokerage offices in the country, about 250 brokers themselves, obviously, there are more than that, more people than that, the support staff as well. it's not an insignificant deal, not the biggest deal, but it is interesting, what you are seeing at barclays is one of the last vestiges of lehman brothers which they acquired in 2008 being shipped out. lehman was acquired lie barclays in 2008, bob diamond
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bought it for a fire sale price, bankruptcy, 1.7 billion dollars for the whole firm. liz: can you imagine? >> it was really nothing. he had grand ambitions to build this u.s.-based barclays america into a huge investment banking operation as the markets recovered in 2008, he thought they would be recovering and tap into it. bob diamond had to resign in 2012 amid the libor interest rate manipulation scandal. liz: which he had nothing to do with it. >> he took the fall because the bank was involved. the new ceo anthony jenkins has been on a cost-cutting tear, a lot has fallent on america's unit, and one other thing complicating matters for barclays is a new fed rule. i spell all this out in the story, live right now. a new fed rule, any foreign bank with subsidiary in the
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u.s. above 50 billion in assets and i think this would easily qualify for that, you come under new stricter regulations and more costs. a lot of the foreign banks, deutsche bank looking to stale down. barclays is part of that. that's the reason for that. need to scale down, shopping this thing, and the fact that it hasn't been doing so well. we'll see how much it gets, if it gets anything, we don't know if anybody is interested. names that keep popping up are wells fargo that might buy it. that's speculation. don't know the price. not sure how much you pay for 250 brokers and support staff. the thing is clearly for sale. that's what the brokers are saying, they're told by management could this go. we should point out i went to barclays, they did not deny this. issued a statement saying everything is on the table. liz: like starwood. all options on the table. >> you've heard it here first. liz: as always.
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charlie, thank youa. charlie gasparino, the one, the only. closing bell, 27 minutes away. she was one of the most powerful bank regulators during the financial crisis. sheila bear has written a book called the bullies of wall street. who needs to read this book? i don't think you want to be considered that kind of bully. we've got her, you ask her, you won't want to miss it. something never seen before and hopefully never see again. the major league baseball game between the baltimore orioles and the chicago white sox being played with no one in the stands due to just the threat of violence. we will take you to camden yards. and get ready for weekend with lauren. i am heading out to have an exclusive interview with matt rose and many other warren buffett-owned companies, burlington northern, railway,
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exclusive, he is only speaking to us as are warren buffett's kids and managers, including warren buffett. don't miss matt rose, the chairman of burlington northern. they have stumbled recently. warren buffett specifically had harsh words for matt, but matt's coming back and we'll find out more about the railroad business and more from the mutual of omaha.
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. liz: i'm quiet because the silence is deafening too at camden yards, despite the fact
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that it's a route for the home team. you're looking at pictures of camden yards where the baltimore orioles are swamping the chicago white sox. score 8-2. but because of the protests in baltimore, no fans have been allowed into the stadium. first time that's ever happened in baseball history. here's what makes it particularly tough on fans. the baltimore orioles up 8-2 as we mentioned in top of the fifth inning. so they're dying to see this but they can't in person. some are hanging out by the gates just to hear if they could hear anything. stay tuned. we'll keep you updated on what's going on in baltimore. 24 hours since t-mobile reported quarterly results. stock up 2% today as the wireless uncarrier beat the street by a penny, shows no sign of slowing down, that's not biggest of news. analysts on the street are ready to call t-mobile the number three wireless carrier edging out sprint, but usually
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outspoken ceo in fucshia isn't putting on party hat just yet, even though he gained 1.8 million customers in the quarter. here's what john legere had to say when i asked him if he thinks t-mobile secured that coveted number three spot. >> let's be perfectly fair, sprint didn't announce their numbers yet, and when sprint announces we'll see where they are. what i said at the end of the year, it's really just our momentum is moving so fast that it's a matter of time. if we're not number three already, we will be. the best part of it all is at&t and verizon persist in not changing the way they do business. we only have 16.5% of the market share of the top four. we've made tremendous headway. we updated guidance and growth for post paid subscribers, ads from 2.2 to 3.2 to 3 to 3.5
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keeping profitability the same. you know i dance in the streets anyways, you can't judge about that. liz: i've heard that about you. narrower than expected, you've been outspoken about the spectrum auctions, trying get more spectrum so can you actually grow. don't you need to show potential lenders, this stuff has gotten so expensive, potential lenders that you can turn a profit before they lend you more for that spectrum? >> yeah, actually, we do talk to investors in detail, and what they saw, liz, is 13% year-over-year revenue growth, 28% year-over-year ebitda growth. ebitda range is between 6.8 to 7.2 which we reaffirmed. we'll be profitable the rest of the year, and actually, i think investors are really thrilled with the progress of customer
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growth driving revenue growth driving ebidta growth turning to a cash generation for the company. as far as the auctions go, very important, slated for early 16. rules are being set, and we plan to be there and we plan to be very successful, and when you think about what competition will be once we get that kind of connectivity, it's actually very exciting for the united states. liz: john legere, t-mobile ceo and president. he wanted to be a gym teacher before he found his calling in telecom, amazing. do you have loose change in your pocket? you might want to take a second look. a very close look on tonight's episode of fox business' hit show "strange inheritance," saved from the trash. paul montgomery discovers inheritance is worth millions. he is joining us now. paul, great to see you. the inheritance. let's talk about what it was and what you discovered. >> well, it was an
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extraordinary story. thanks for having me today. it was an extraordinary story. what we actually discovered is a 1913 liberty nickel. it was a coin that was thought to have been lost forever. there were only five coins that were ever made. i did a gimmicky little promotion, i put out a million-dollar reward for the coin knowing full well it didn't exist, and i guess it was about a month later, sure enough, there it was, right in front of me, an extraordinary find. liz: how much is it really going to be if you put it up on the market? >> well, actually we did sell it about a year and a half ago, and it sold for over $3 million. and so it was an extraordinary, it was an extraordinary deal. i put an offer of a million dollars out. but what i told family when they brought it to me, it was worth much, much more than a million dollars. clearly the investor that bought that coin for 3.1
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million dollars has every intention of it going up, and they have. there were auction records from the 60s where the coins brought 7 to 12 million dollars. liz: paul, you said only five were minted. legend has it there's a sixth floating out there. what do you think? do you believe that? >> i think it's a myth. we did a lot of research. we did a follow-up book on the discovery, and did a lot of research, and there was some suggestions that that might be true. i don't believe it. but, of course, i didn't believe that the fifth one existed either. so it would be a nice surprise, and if anybody's got it, i'm your guy. liz: he's your guy. and by the way, check the loose change and, of course, the bucket that you have of all your loose change and nickels. thank you so much, paul, good luck to you. >> appreciate it, thank you for having me. liz: don't miss tonight's episode airing at 9:00 p.m. eastern time.
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"strange inheritance" monday through friday on the fox business network. closing bell, 15 minutes away. markets trying to come back. do you see these guys on the floor of the new york stock exchange. one fund manager says these are the guys you want to invest in. we will ask him why. and get ready for weekend with warren. warren buffett that is. i'm heading out with team fox business to omaha, nebraska for the berkshire hathaway annual shareholder meeting known as the woodstock of capitalism with a slew of exclusive interviews starting on friday. we've got a sitdown nobody else has. 3:00 p.m. eastern with the kids. they're all grown, but we call them the buffett kids, suzy, howard and peter, growing up buffett. 50 years of berkshire hathaway. what is their future and their dad's future at berkshire. we have it all, all weekend long. you're driving along,
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. liz: with just ten minutes until the end of trade, that means it's time for the "countdown" closer. nicole is on the floor of the new york stock exchange. trent wagner has the number one thing you need to watch before the close. and john wilson here to tell you the best way to hedge risks for your portfolio with a freakedout fed. nicole start with you, quick check of jumping 12%. >> watch that one, right? this is on the potential that there may be a suitor for salesforce. you saw a pob in the stock. oracle was a name that's thrown around. microsoft, sap, the names that have been mentioned. heavy volume, and just the big movers that are worth moving, lumber liquidators, gopro, hilton, goodyear tire, new
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highs on many of the names, spirit airlines down 10% as they cut revenue numbers going forward. liz: nine minutes to go before the close. trent at the cme, what's the most important thing our viewers need to know before the bell clangs? >> opportunity in the treasury markets here, liz. we had the relative value trade in play early in the session this morning. we saw the treasury markets here in the u.s. sell off, due in most part to the yield spiking over in europe. everything thereafter, liz, was fairly constructive for the treasury market. the gdp number, the subsequent fed statement this afternoon. all of that's constructive, it essentially is taking a june rate hike off the table that's good for treasuries. i don't think the spike in the european rates is here to stay and the relative value trade will come back the other way. we have a buying opportunity in the treasuries and tomorrow and friday. liz: okay at 2.04 for the yield. thank you very much. the fed voted unanimously to keep interest rates at very
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low, almost zero to a quarter percent for another six weeks but are investors putting way too much focus on the fed and soft economic numbers like today's first quarter gdp data. let us bring our next guest who says investors need to hedge risk even if the fed isn't moving. he has ideas right now. john wilson, ceo and co chief investment officer. have you 7 billion in assets management. the fed did nothing today, that doesn't mean investors have to sit immoveable. what would you recommend best in an atmosphere like this? >> we think the pendulum on discounting the fed has swung too far, they're not going to do anything soon camp, that's largely a reflection of a soft first quarter. what we always typically have is a much stronger second quarter. we think that's the case this year, as we go through that period, you will see people get a little more focused on the
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fed more around september in terms of a rate increase. but right now fed futures are talking december. that's going to add volatility and some risk into the equity market. liz: the fed futures pit is interesting pair of window. now it's pushed all the way out to december. john, help us invest around a frozen fed. what would you be doing right now? >> well, first of all, i don't think they're frozen. what they're signalling is dropped things like date references. they're becoming much more data dependent. the data has improved a lot over the last few years. and so i think people need to be in equities over the long-term, equities can still be a very profitable place to be, but i do think we're going to have a lot more volatility in the near to medium term than we've been used to in the last three years. that's where the comment on hedging comes in. liz: if you talk about equities, give up the three you have given to our viewers two.
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tech names along with outright exchange, the intercontinental exchange, ice, why that one? >> well, ice has been suffering through the decline in volumes and the lack of the decline in hedging that people had to do over the last number of years. they had a have of exposure to the new york stock exchange which they own but the derivitive exchanges and in particular have energy and european rates. they have a potential not only to see more volatility as we move through 2015. that's going to help them. natural hedging in portfolio, going to rise. and on top of that, wonderful managers of the business, generate a lot of cash flow and there's more room to take expense out of business. liz: other picks are nxp semiconductors and connectors for electronics. quick word on this as we wrap up? >> nxp, a great play on the chip business, people in the
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u.s. are going to get chip cards for visa and debit cards, also in the iphone for apple pay, and beldin focus on security and networks and building that into the connectors. also a terrific business. liz: great to have you, 7 billion in assets in toronto. thanks, john, so much. >> thank you. liz: any time. john wilson of sprott, the closing bell five minutes away. she was one of the most powerful regulators during the financial crisis. now here voice matters. sheila bair is out with a brand-new book called the bullies of wall street. how's that for a title? trust me when i say sheila bair knows bullies. you won't want to miss this interview. get ready for our special weekend with warren. bu covering all things buffett live and all things from the berkshire hathaway annual shareholder meeting. 40,000 people expected in omaha starting on friday. team fox business is there. we'll have exclusive interviews. we'll be talking to warren,
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ng from the meeting. warren buffett's kids, what about the buffett legacy as well as the chairman of burlington northern southern pacific railroad. we've got him exclusive along with the ceo of see's and big names. weekend with warren starting on friday.
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liz: well talk about an attempt to climb back off the lows. >> trying. the other thing we need to talk about the price of oil going up and up. the fed leaving its options open. yes the market is moving. liz: we have crumbling dollar. yields up above 2%. markets trying to hit the flat line. let's go to nicole on floor of new york stock exchange. we need to just catch people on sales force dot-com. the big story of the cloud company, jumping 9%. >> right. surged to record all-time highs. there may be a suitor for the company. the reports from bloomberg, they hired bankers to explore this.
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[closing bell ringing]. liz: sales force ending session up. stocks had trouble coming back. federal reserve in essence, said, good what, no move at all. in fact we'll not even hint about june for sent. ashley: took away any targets. we'll see. betting is on september. as you mentioned earlier hour, maybe december for a rate hike. i have a feeling that the economic data will be a lot vuonger in the second quarter which will complicate matters. liz: absolutely. ashley webster in for david asman. "after the bell" starts right now.


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