tv Countdown to the Closing Bell FOX Business November 12, 2013 3:00pm-4:01pm EST
i'm liz claman, it is the last hour of trading, and if you're looking for bright spots in the market, what do we have? airlines moving higher because it looks like we finally have a deal. the justice department removing the last major barrier to the proposed merger between american airlines and us airways. so what was this huge stumbling block could now become a steppingstone. today the government announcing that settlement in its lawsuit to block the merger, so what does it get in return? well, the merged airline says it will promise to reduce the number of flights it operates out of key airports like washington's reagan national and new york's laguardia. shares of american airlines, we do see it higher, it's amr as you see, and we have it up about $2.43, that's a 25% gain. lcc for low cost carrier up about a half a percent. joined live by bob crandall, a
guy who knows the airline industry inside and out. he's the former president and chairman of american airlines. we'll get his take on today's announcement. talk about the airlines and if he thinks they're a good bet. it's a fox business exclusive. and in technology news apple's ipad mini with retina display went on sale today, apple had previously said it would go on sale this month. didn't give a specific date, but now it's out there. apple's stock not really moving on the news, right now we do take a look at apple at the moment. hold on one second, and we do have apple up just a fraction of a percent or, actually, just about 1%. and twitter is introducing a new feature called custom timeline. this allows users the add an organizing structure to the tweets they collect and share with others, and it can only be done with twitter's tweet deck application. the stock has been volatile today. let's take a look at shares of twitter, we do have twitter at the moment down just about one
and three-quarters percent or 77 cents as you see, previous day it moved higher, today up, down, all around but right now down at $42.13. remember, the highest trade was around $50. it's a 9% drop since the micro blogging site went public last thursday. okay, let's get to this airline deal. a lot of you own stock, fly the airlines, we do have american airlines and us airways not the only ones flying, shares of other airlines getting a boost. >> reporter: and with this news, liz, this really paves the way for some of these airline stocks to continue to just move higher. many of which which, most of them, actually hitting multiyear highs, 52-week highs and in some cases record highs. we saw us airways and american airlines, amr, with up arrows. take a look at alaska air up 2.25%, southwest up 1.1%, and part of this is because they
will then, in turn, have access to some of the slips, right? where you take off and land at some of the biggest airports in our nation including reagan national in the d.c. area as well as laguardia right here in new york. so we did see the news cross that, actually, you did have lcc stock halted for some time, and then it reopened and moved around throughout the afternoon. positive territory, negativer the toxic, us airways up one-third of 1%. a great day for these a airlines as they move to these record highs. back to you. liz: sure is. speaking of record highs, that's what we had yesterday. we hit record highs with the dow jones industrials, but stocks are cooling off today thanks to a worse than expected reading on small business sentiment since it's the driver of a lot of job creation here in the united states. again, everybody's looking at the possibility of a stimulus reduction, that's a fancy way of saying tapering. for the latest on the markets, let's brink in the traders at
the -- bring in the traders at the new york stock exchange, cme group and nymex. teddy, i'm amazed we're not seeing a bigger than expected pullback here because once again we hit records, and it's barely a little tiny nick on the surface of what has been an amazing runup. >> yeah. liz, i couldn't agree with you mooe. i think you're right on the money with your observation. i get a sense, you know, that they kind of, the market feels like it wants to roll over a little. i can't give you a good reason. maybe the excuse will be as we exit earnings season and the focus, you know, just becomes the economic numbers which one day they're good, one day they're not so good. i don't know what the market's going to focus on going forward, but we still have this underlying bid for equities created by the liquidity posture of the fed, and until, until we get some real concrete indication that that's going to change, my guess that underlying bid is still going to be there for equities. but the higher they go, the harder it is to buy 'em. liz: okay, well, i agree.
and you look at that, it seems that people are waiting for an opportunity to get in who sat on the sidelines. bob, a lot of fedheads talking, rich edson's just getting microphones put together, he's going to tell us what they were saying, but also we have a federal reserve member, former member who's saying the quantitative easing has been a real mistake. and it's really only helped the big wall street guys, and does that affect the market in any meaningful way? because this market has gone up, and everyone's 401(k)s have done well. >> well, i'll tell you what, i agree with teddy, and i agree with that statement. [laughter] the federal reserve especially -- >> come on, fight with us, bob. [laughter] >> can we just shut the camera off now? because i'm done. [laughter] the market cap has gone up almost dollar for dollar with quantitative easing, so the pullback comes when the tapering gips. the tapering begins when the economy gets better, and there's a disconnect there because the economy is not strong enough to cause an early tapering.
so i think tapering can go from3 maybe march to january, you know, in terms of it moving sooner closer, but other than that, i don't see it happening. so teddy's right, you have to be in this market. but the pullback is coming. i don't actually like years like this. 22, 25, 28, 30%? if the s&p 500 averages 6-7% a year, what's going to happen after one or two of these big years? that inevitable 10, 20, 30% pullback is coming. maybe not this year or next year, but it comes with tapering the market's focused on that, and they should be. liz: seven years of feast, seven years of famine, you can tell i didn't read the bible. [laughter] let's get to mike who will never say turn the camera off because i think you're getting paid by the word? [laughter] >> by the way, everybody should be listening to those guys, and you as well. everybody's making money in their 401(k), but i think there's a lot of guys looking for the big short, and it's not
coming. in the s&p, that is. liz: let's get to oil. >> sure. liz: forget oil, natural gas. everybody's talking about this. >> you know, liz, i wish i could give you a better read on natural gas. i think it's more of a seasonal thing -- liz: okay. i bring it up because we have the ceo of a company called power solutions. you guys, this stock is up 12,000% since its ipo in 2011. they make the natural gas engines that help vehicles convert and, clearly, somebody's bullish on that potential,ing mike. >> well, absolutely. look at tesla, look at -- we've got to eventually go to some type of alternative -- liz: transition. >> if you think about it, the whole world is wilt around the -- built around the automobile. so if you have a company that's going to build engines that converts natural gas to energy in a car, that's a good way to go and, therefore, it's up 12,000percent. and the money situation, the liquidity in the market, like teddy was saying, there's so
much money, you don't want to buy new highs, but where else is there to go unless we hear some negative news out of the fed? i think the tapering will come sometime mid next year, and i think the liquidity' goes going -- going to be there. i've made more money buying highs and selling into lows than trying to pick a bottom or a top. liz: well, yeah. the world is littered with people who doubled down. teddy, by the way, is a boating guy. [laughter] transfer the engine to a natural gas engine on your boat. >> it'd be nice. it would be nice. liz: less expensive too. gentlemen, thank you very much. we love these guys. blindsided, federal reserve officials speaking around the country today were completely trumped by a relatively little-kno reserve employee, andrew iew% star, who's saying quantitative easing was a huge mistake saying, quote: i've come to recognize the program for what it really is, the greatest back
door wall street bailout of all time. rich edson, you've been monitoring the speeches of current federal reserve employees and big members. i mean, this is stunning to see in the journal today. >> reporter: yeah, someone who ran the program from '09 to 2010 and really no full end in sight anytime soon. you've got three nonvoting% members talking today, dennis lockhart also joined by richard fischer, basically saying, again, that tapering is on the table for their december meeting, but you talk to the doves today going on the ore side of that -- the other side of that saying reducing the flow of purchases would be a drag on the economy, slow rate of economy towards the committee's goals. and all this talk about not putting tapering on the table saying, quote: the dialogue risks creating the perception that the committee is not following a goal-oriented approach to monetary policy. such a perception can create doubts and uncertainty about the
criteria underlying committee decisions. and this, of course, liz, is all ahead of the big fed meeting between december 17th and 18th, one in which the fed chairman, ben bernanke, will be making comments, talking to reporters and answering questions afterwards. back to you. liz: okay. thank you. i look at that and say, wow, this is clearly stunning, the federal reserve world. and their just shaking their heads saying, okay, guys, this is the last thing we needed, but he speaks what he believes is the truth. we recommend everybody read that op-ed in the "wall street journal." it was catching my eye immediately this morning as we've got to talk about this. we also have to talk about this, it broke in the last hour. arguably, one of the most valuable things in the business world right now especially if you're looking at telecom is spectrum. who owns the airwaves here? well, you first heard about the potential for this on countdown to the closing bell a week ago. just a short time ago reuters reported today that the dish network chairman said he is not ruling out the possibility of acquiring the rapidly-expanding
wireless carrier t-mobile u.s., because he wants the spectrum. just last week i asked t-mobile's cfo braxton carter about that possibility, whether the merger with either dish or sprint, who knows, might be in the cards. >> the great thing about our company is we have tremendous momentum. we're shaking the industry up, we're changing the traditional paradigm, and we are totally viable on a go it alone basis. of course, for our shareholders we'll always look at anything that has strategic enhancement and value creation, but we're really focused on executing, keeping our heads down and creating shareholder value. liz: well, yeah, you keep your heads down, but guess what? charlie found you guys, and he maybe wants you. never know what he's going to do. the stock right now spiked when that news broke. as you see, went above the flatline. it was lower earlier today. since then, since there's no there, there just yet, down about 3.5%. let's see what the company is up
to. of course, jill clayton's the ceo over there. never a dull moment at dish, up 5%. closing bell ringing in 49 minutes. creamed by currencies, which u.s. companies are fumbling tear earnings due to their -- their earnings? we're going to tell you which companies blew it in the quarter, but a fox business exclusive with the ceo who's now very much in demand by those very ceos to tell them how to manage currency risks before those risks drown their earnings. you may own the stock. and the american airlines/us airways merger finally taking flight after today's landmark settlement with regulate ors. former american airlines chairman bob crandall sounding off on the regulators and the companies in just a few minutes. it's a fox business exclusive. ♪ ♪
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currency pairings? corporate america has been riding on a currency roller coaster with several companies taking currency-related charges in their earnings, so who were the winners and losers, and who will win and lose during the current quarters and quarters to come? joining me now, wolfgang keyser, and we bring you on because you educate us about something that can be a little intimidating, but investors have to know, and that's the fumbling that some companies continue time and time again to endure when they don't figure out what currencies are going to do. i do suppose you need a little pit of a crystal ball here, don't you? >> that's one way to do it, but that's probably not the right way to do it. i think what more and more companies are understanding is that they need to look at their entire portfolio currencies, not guess when the correction krone is going to depreciate. how do i make sure that doesn't impact my financial statement?
you and i have been talking about this for the last couple of years. the great thing about it is more and more people are obviously listening to your program and are doing very well. our company's up over 50% growth just for the year because an increasing amount of companies are understanding it isn't about the five major currencies against the dollar, it isn't about guessing which currency is going to go up or down, it's about managing currency risks properly to not have surprises. liz: before we get to who won and who lost at that very difficult game, how do you manage such a thing? >> you manage it by understanding all your exposures. so if you start on the balance sheet side by really understanding where all your exposures are, and the secret to success here is make sure that you have a complete set of accurate data, and that's the most difficult part of this entire risk management process. where are all these currencies? there are companies who have 900 currency pairs -- 300 currency pairs, accounts receivable,
payable, where are all they? from an investor point of view what they can do and say, look, i want to look at the foreign exchange gain or loss line in my income statement to see what -- and that's an indication. it's not the total thing, but that's an indication how well is that company managing the risk just coming from the balance sheet? then you've got to look above the line -- liz: how deep in the prospectus do you have to look to see that they're doing something correctly? >> well, i think that you have to do some homework here, but it's not impossible homework. look at the earnings cost. you know, it's as simple as going to seekingalpha.com, within 24 hours any earnings call is in script ready, you can do a search for currencies, and i tell you what, "the wall street journal" just reported about a quarter that about 35-40% of corporations are getting in-depth questions by the analysts about it. the ceos and cfos are replying, have to reply to this
thing, reading that is probably one of the best indicators. of. liz: the winners this time around, i will pick out the pharma sector because today do business be all over the world. people are buying these drugs everywhere. who's done it correctly here? >> well, and i'm going to divulge some of our customers, so make sure that i'm all clear. we have about 75% of the pharma sector today that manage that currency risk by understanding the currencies properly, the likes of the pfizers, the mercks, a lot of these pharmaceutical companies are doing a very good job understanding it. it's complex, but tear digging in. they're using and leveraging the technology to be successful and not having major impact or surprises. liz: so you say merck and pfizer did really well. the losers, and we can put these up, ibm, alcoa -- these guys have been in the business a long time, and they've been global for a long time. why are they stumbling here? you say the tire sector, from everybody from michelin, cooper tire, i'm assuming because of
the commodities? i don't know. you explain to me. >> well, let's start with the ibms and the alcoa withs. i think there's a fundamental difference. at ibm they've done one-way business a long time, they've just made the decision so far not to manage it to the level they probably could. and i think they'll end up getting there. alcoa, they have, in my opinion, a faulty assumption that their commodities are offset by their currency. i think that's a long-term trend. if you look over five years, you may be able to make that argument, but quarter over quarter it's hurting them, it's continued to hurt them. you and i have talked about them before. you've had the ceo in there. they need to really think about this also on a quarterly and annual basis, and there is a better way to manage that risk. they have a new cfo has the opportunity to improve that process. you go look at the michelins, there's an interesting story there. michelin and perelli, very similar companies -- obviously, out of different countries -- they're impacted by different
currencies. so you have a michelin all of a sudden much more impacted by the yen and a perelli much more by bra. and even though -- brazil. even though the businesses are similar, where did they do a better job verse russ a worse job, but they can do an overall better job. liz: we're going to put up on our facebook page how you explain to investors how they can pick these things out and what to look for, wolfgang. thank you so much. >> you bet. absolutely. liz: closing bell ringing in 38 minutes. wall street already making big bets on just who is going to face off in the 2016 presidential election. yes, hillary's been spoken about, but who else? charlie gasparino has exclusive details on which candidates are being backed now by some of wall street's heaviest hitters. you need to see this. the fox business charlie exclusive, he's breaking it. and from boats to billiards, brunswick corporation's ceo on a
roll. that stock up more than 50% this year. he's going to tell us how he's doing it and what he plans to do to continue the growth. that's a fox business exclusive as well. imagine that. ♪ ♪ there the american dream is of a better future, a confident retirement. those dreams, there's just no way we're going to let them die. ♪ like they helped millions of others. by listening. planning. working one on one. that's what ameriprise financial does. that's what they can do with you. that's how ameprise puts more within reach.
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♪ ♪ liz: it's far away, 2016, but it looks like wall street already making calls on just who will be facing off in the 2016 election cycle. it's a guessing game always, but charlie gas reno with major wall street players. >> i think kind of the players are almost more interesting than the people. i don't know, i think -- liz: the candidates. >> hillary clinton, clearly, on wall street considered the democratic front runner. chris christie on wall street considered the republican front runner, we should point out that this is three years away, a lot can happen in three years. although, you know, the front runners usually do kind of emerge to the top. she was the front runner, although, this 2008, and she lost to the current president. but that's where the betting is right now. and the way it's dividing up is kind of interesting. if you look on the christie
side, and this is going on as we are speaking, it's ken land gone, one of the co-founders of -- >> that's chris christie, but ken and stand druckemiller, used to run due cane capital management, those are the people scouring wall street basically raising money for. chris christie. and he supported rudy giuliani this 2008. we should point out that he is probably right now if you put dollars to doughnuts, he is the biggest backer of chris christie certainly on wall street, and that's what he's doing. on the other side of the fence be, it's kind of interesting. what you have people articulating they are going to line up pretty big behind her, and from what i'm hearing from sources, that it's lloyd blankfein, the ceo of goldman sachs. and interesting, larry fink.
a longtime i'llly supporter. he did support barack obama in 2008. goldman went heavily to romney in 2012, but in going heavily to romney, you know, blankfein would tell people he's always been a hillary person, and that's what he's telling them right now. larry heavily supported barack obama in 2008, supported him, from what i understand, in 2012. liz: do these guys ever give money to both republicans and democrats? >> well, goldman -- as institutions they generally do, but as individuals, they kind of give you senses of where they would like most of the money to go. jamie dimon back in 2008 or pre-2008 clearly told people he wanted president obama to win the election, he was candidate obama, and a lot of the money from jpmorgan moved to obama, and the same thing that goldman sachs where gary cohen was an original obama supporter, a lot of the money moved to the eventual president. but larry's interesting, larry fink, because the game, i think,
for him is becoming treasury secretary. liz: right. >> now, that is, in my view, a thankless job particularly now that you have so much economic problems, and you have a lot on your plate. you're working 24 hours a day. but people who know larry fink, he desperately still wants to be treasury secretary. he basically didn't get the call this time around, and his connections, he does have connections to hillary clinton. he knows a lot of people that could put him in touch with her -- liz: okay. but would she pick a wall street person? i'm sure larry's eminently qualified, i'm just wondering whether anyone wants to withstand the scrutiny -- >> you know, i think her and her husband are a hitting different. bill clinton, as you know, picked wall street guys. bob rubin and larry summers. and be i think -- and his first treasury secretary, i believe, was lloyd benson, right? but he was -- and then after that came bob reuben and then larry summers. liz: and it was, by the way, george w. bush who appointed ben
bernanke who was more of an academic. >> right. it's interesting. i just think that larry's game right now, larry's play is, you know, he created a great firm, blackrock. he's not slowing down. we do -- we do know he still keeps the heavy traveling schedule. he does need a succession plan, he's not going to do it forever, and what a lot of people believe, people who are friends with him, the transition is leave blackrock and still become treasury secretary, and that's why he is supporting clinton. here's where we are right now. things could change, it's always in flux, be that's the -- but that's the early betting, hillary v. christie, and it's langone v. blankfein and -- liz: that's one heavy -- >> and they all converse every day in -- liz: don't rat them out. thank you very much. >> we didn't talk about the new
york stock exchange today. liz: i know. shall we save it up for tomorrow? >> you know, our twitter page was going nuts about -- what do they say? liz: don't get trapped by fox. >> who said that? on nyse flak -- liz: a person told the innocent jack dorsey over at twittedder who's a great guy don't get trapped by fox. as they passed a darling and fantastic nicole petallides who's been so good over there. >> you know what? it just pays not to be nice. i'm telling you. liz: charlie's won any way he can. good for you. closing bell is 28 minutes away. both billiards and bowling, that's the business of brunswick, and the company is booming. we have a fox business exclusive with the ceo, we're going to show you some of their fancy products. it's a wish list kind of segment. stay tuned, we've got the ceo exclusively after the break. ♪
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♪ ♪ because during the holidays, keeping yourdentity protected means keeping your family protected. ♪ liz: talk about a unique company. the brands, that is not hurting the stock being widely different come up about 50% year today. nicole petallides is with the ceo, she actually went on one of their products a day in a fox business exclusive. >> reporter: i was on top. what a life style. what good times. we talked to the chairman and ceo moments ago outside.
my first question was what do you think of 2014? >> we think the main industry will continue to grow probably a little better. >> said dr. one of the and eliciting to will be a lot of replacement. that might be good news for you and you are a look conservative and did not give guidance. you think there will be replaced this? >> it will happen over time. how the breaking down to my query seeing them bowstring? >> in terms of profitability, big business, very strong, lots of growth. biggest percentage growth is in our fitness. highest margin. >> reporter: let's talk about the sectors and regions. u.s.a. versus your verses
worldwide. verdi uc strikes going forward? >> primarily in the united states. very difficult. down 15%. back a little this year. we're happy with europe. the emerging markets will continue to grow for us. >> reporter: i understand you have not built in the works, one of the analyst told me. >> before we do that let me talk about this one. this is the highest in america. a very different type introduced . no, on the 65-foot boat, it will be introduced at the miami both show. >> reporter: a lot of the analysts have buy ratings and still believe that recreation, good shot -- good times, fun-loving, health and fitness still continue to prosper
despite the tough economy. what do you think? 60% of analysts actually buy ratings. >> we think they are dead on. we said even in a slow economy will continue to grow nicely. >> reporter: what is your favorite? >> i actually bode a lot. i am on our fitment -- fitness equipment every day. >> he think he will bring some of your friends on the bow with you some time? >> we have done several segments any time you guys want to come, we would love to host you. >> reporter: appreciated. good luck in the year ahead command thank you for bringing is a long. >> gorgeous, gorgeous boats with so many sectors. did you hear him? he gave us an invitation to do our fox business show right there on one of those boats. maybe next year.
a beautiful sunny day. liz: does it come with dramamine i am that person. >> reporter: we will keep it at the marina for you. liz: you and me. bikinis and everything. could every engine and land vehicles, land vehicles on the road use natural gas instead of diesel or gasoline with the. >> would shout. our next guest is betting on exactly that and says it could happen in five years. johnny is not in a fox business exclusive his powers solutions international chief operating officer. it is fascinating. we have to get to the stock right off the bat. year to date it is at a beautiful return of about 309%, but since your ipo in 2011 the return is trough thousand 888%. we really could have put our entire savings in there and done
very well. to what do you attribute the belief and success and a company , still a small cap, less than a billion market kemp. why is everyone so excited? >> we're seeing massive adoption to alternative fuels and natural gas engines away from diesel engines and the largest manufacturer in the country. we are seeing strong demand across many of our sectors. especially recently for the last quarter, oil and gas contributing a healthy dose of that growth. liz: you say that there are massive job adoptions. i don't know anyone i know who has a natural gas powered vehicle excepted boone pickens, my interview. he loved is. he got it put into a toyota. what do you mean, mass adoption? >> kind of bifurcated in the two segments. the passenger segment, the vehicle segment, and the
industrial segment. behind the scenes in the industrial segment we sell everything from forklifts to power generation to other areas. what you are seeing is the adoption in those areas, but to your point many of the markets in america are 90, 95 percent diesel or gasoline based. we are seeing is adoption, although very small, very quick. and we expect within the five years, as you alluded, and see significant shares of vehicles in the country. liz: i am betting on potential. you have had an amazing first act, as we mentioned, 12,000 plus percent return since the ipo. what do you do for the next? >> the way we look at t is it is still early. so some of the market's -- take school buses, 96 percent diesel, 4% adoption to of alternative fuels. many markets we could see could grow ten or 20 times. we look at it as we are still a small company, early stages of
growth than expected just execute and capture hopefully a fairly good market share. liz: the industrial market and maybe the rest of us fall behind, right behind in line. the iea report, you must've seen this. came out today saying that by 2016 the u.s. will be surpassing oil production which will top saudi arabia. that is done in. people cannot believe that, but does that then hurt your case for natural gas powered vehicles to mexico modulo here? >> no, it does not. natural gas as a byproduct of producing oil. places many reserves found in natural gas of the last decade as well. i think it will be the health gap. liz: thomas as a costa transfer regular engine a regular car.
>> we are focused on the industrial commercial markets. we're seeing ford and gm offer those conversion kits out there. liz: good to see you. the company is power solutions, natural-gas engines. the sea. we always like to point out, to percent of the float is short it. american and u.s. airways break-in crack over the murder deadlock. is it now we ls up for these airline stocks?
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liz: the big news today in airlines is that a settlement has been reached in the antitrust battle with the government over the american airlines u.s. airways merger. how will this impact the airline industry in stocks? running me now in a fox business exclusive, someone knows just a bit about the inside business of . former american airlines chairman and president. great to have you here on the phone. first of all, your immediate reaction to what has happened today and that the department of justice is finally come to an agreement in letting this merger come through.
>> i am happy. good for america, u.s. air, consumers, lots of cities and ancillary businesses around the country. generally good news. the doj, i think, made a big mistake challenging this in the first place. and then they finally managed to find a way to let it happen. liz: they would argue, and you know this as well as anyone, they were trying to protect the consumer. your response has been what were they thinking. why? >> this is pretty simple. if in any -- no matter what i'm going to buy and i would rather have three choices of people to buy it from and to. the fact of the matter is they had previously -- the government previously decided that they would let united acquire continental dividend decided they would that tell to acquire northwest. it had been up to me i would have disapproved of the but they
didn't disapprove them. they said, yes, this is good. this will be a bigger, more effective competitor. okay. now u.s. there in america, along. they're simply not big enough independently to compete effectively with united and delta. so by opposing the merger they exist -- they're doing something that is negative for competition not positive. liz: to you believe that had the department of justice stood in the way of this piece i've heard this from inside airline people, either or american and usair might have gone under. >> not on the short term. it would be a matter of many years, with over a. of years of what happened is that neither american nor u.s. share would be big enough. they don't serve in of cities and have enough ubiquity. they don't have of broad enough network to get there share of the very important corporate business to get there share of the important international business. now they are big enough, and so
we will have three big competitors is of two which is give for everyone. liz: part of the settlement was that they would relinquish certain slots in major airports, everything from, for example, the guardian, rape international , do you think that is going to hurt them? >> not very badly. look, this is a new company that is going to operate 6700 flights per day. three ended 36 destinations in 56 countries. the state the airport's one of the time. in washington the two airlines operate to under 94. there was still be a major presence at washington national and laguardia and have a much
more comprehensive network within the u.s. and around the world. liz: does it surprise you that immediately upon this news jet blue, a competitor, and a wake immediately offered a very cheap flight. i think u.s. $55. this is good competition obviously. and in one hour span other airlines are trying to beat this. >> they're trying to emphasize the strength of their own company. >> i would be happy and make a little side ledger as to whether the fed -- box will hold up.
liz: lovely to have you. thank you for joining us. >> thanks to. nice to talk with you. liz: closing bell in five minutes. we will bring you the winners in just a second. stay tuned. [ female announcer ] who are we? we are the thinkers. the job jugglers. the up all-nighters. and the ones who turn ideas into action. we've made our passions our life's work. we strive for the moments where we can say, "i did it!" ♪ we are entrepreneurs who started it all... with a signature. legalzoom has helped start over 1 million businesses, turning dreame into business owners.
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list. jet blue, united, continental, delta air and alaska air group. jet blue, offering $55 fares just trying to -- >> with oil going down the way it has been, fuel costs are going up quite a bit. it's good to nicole petallides and the new york stock exchange said talk about oil dropping. of course is affecting the airline's and a positive way. not so oil stocks. >> reporter: absolutely. i am seeing oil at 93 and change, down over $2. exxon, for example, sold off today. many of those stocks sold off. big rows behind me. two companies. now trading as of tomorrow. and you see a lot of action here. we cannot -- liz: we cannot ignore federal express. it is not why it got a boost. investors still in the new york times he is taking a major stake in the company. >> right. and when he takes a stake, everybody, a great hedge fund
manager that people follow. >> as we look at the traffic on wall street, it has been a mixed message, when you look at certain spots like fedex, individual stocks do quite well. liz: here we go with the nasdaq. liz: american airlines parent and u.s. airways of greece to settlement with the department of justice that were finally allowing the merger to go ahead. finally let this thing go through. david: against those first mergers. talking about that later on.