Bloomberg's Andy Cinco joins Barry
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Tami Luhby, CNN MoneyTami Luhby, CNN Money
out there. All my family is out and Antarctica there in -- hockey players all these Bruins players that you love -- -- where you think they're from either from you figure from Massachusetts. What -- -- the American players on the crossed amber is here now so why. Why did you leave. My dad a transfer okay Kampman you'd still be their -- guys that are not facts you'd go back tomorrow -- if you. The problem is I'm not a good enough occupier he it to be. Saskatchewan. Produces more hockey players per capita than any other place in the world to -- a -- paid attention the past couple weeks. But supposedly the number one hockey player in the world it turns out. He's not that Iraqi player you know he is that it is just that the other Canadian playing against -- is a better player. -- birdie is a better player than Sidney Crosby . When he doing and you look at the game of hockey -- get ready looks at the offensive side of hockey chemicals that yet now it's a two -- game you gotta be of the play defense Sidney Crosby can't play defense he sucks and the defense he's he's he's a wimp. And he doesn't play. That's an uncle Chris Chelios . Give me a belt made him but he running each. Is. Like rich rich this is embarrassing to to stop that knowing that Jack and Roenick now. Wage on the island -- got your -- -- these. Players I sound yet I've actually her -- The hall of famers I mean it the best like Bobby or he's from Canada and -- now he's from Saskatchewan. Wayne Gretzky he's from -- In isolating it like that's your national sport that you didn't see any baseball players made it in the -
Casey Ross, Boston Globe, on PriceWaterHouseCooper's
Casey Ross, Boston Globe, on PriceWaterHouseCooper's
right now are taking a look at the waterfront -- the new real estate option. Then moving to a different officers bank put you know they want to establish -- -- exciting new abandoned building and so. The seaports and interest and opportunity that drawing a lot of companies trying to. Why I think I like the financial district to that what's the big attraction of the seaport area you name it may be a mess it's. Poll. It's cheap and it's that's the main thing is that you know right up there looking around at look at okay -- and I moved to and another office building downtown and I stay put. You know that the currently rate or should I mean he moved to the seaport there's a -
Shawn Kravetz, Esplanade Capital
Shawn Kravetz, Esplanade Capital
been and then. We'd like to buy the whole company and then negotiated transaction . Do you own any shares in the company now. We do we heard the second largest outside shareholder. The family owns roughly 90%. Of this company. DE Shaw. Very very large hedge fund in New York City is the largest outside shareholder and we are number two. Why panel why they're why they hesitating to solitude they must feel that the shares are worth Maurizio I think I can conclude. Well. I don't wanna speak for them but I suspect you're right on the money. They had no idea that and they know there's a lot of value there. And I guess they're confident that someday they will get that we would like to help shareholders get that values sooner rather than later. Because. We thought the assets -- well. You made the statement that you feel the -
What's Up On Wall Street - Andy Cinko, Bloomberg News
What's Up On Wall Street - Andy Cinko, Bloomberg News
we asked a question of the day which had to do with Social Security And collect your Social Security for retirement age or are you going to collect literally. 73%. Of Americans collect their Social Security early in the vast majority of cases I think that's a mistake but people do it for any reasons. When I came up with June and I think is a good idea for us to talk about is you know we're sitting here and and and acting all high and mighty. As it relates to this discussion about Social Security in the back the matter is we have access to tremendous resources on this topic whether the courts are now ski. Who worked for the departments of security for 37 years or whether it's Chris Farrell was a reporter for Bloomberg we have access to a lot of data. What I would like to do is make this information on Social Security Tips to maximizing -- worst Social Security benefits I'd like to make it available to our listening. I think it's they I think it's important. You know people refer to it I think some 97 -- as areas of securities of Ponzi scheme this. I disagree with you respectfully -- disagree with you but you know -- more importantly. Please educate yourself on Social Security Call this phone number it's 508591. 5444. Asked for the guide about Social Security tell the I would pay -- wanna learn more about Social Security Barry seems to know a lot you know why I read a -- I studied this stuff every day it's what I do for a living. 5085915444. Is the number you should call. Call them. Tell -- you're listening to the financial exchange and you want to learn more about how he can maximize your benefits. Out of Social Security I think you'll be glad you made the call I know I was glad when I read the report on Social Security Maybe a more informed consumer. 5085915444. Up next Sean Kravitz he's the president of a hedge fund. That has been trying for
Automatically Generated Transcript (may not be 100% accurate)
Good morning good Tuesday morning by the way glad to have you aboard its July 24 it's the day after. The Dow finished the -- down a 101 point do you say to yourself. Gee how can carry the positive the Dow's down 101 point. Health. It was a lot worse than that early in the day however if you remember him but at one point when we were on the year. It was down 24250. Points in the more. Yeah outlaws and that we you know it's not to take bets in the morning -- you ask me you think it's gonna collapse yeah recover and I didn't expect that night so this is good stuff I'm looking at Dow futures right now down seventeen NASDAQ. Is flat -- 24 cents to 8947. The tenure US treasury is at one point 45 and you got gold trading down twenty cents to fifteen cents a and so. A little bit on the uneventful side ahead of the Apple's. Earnings announcements that's coming out today. That come out tonight after the market -- big earnings day. And -- I wanna mention this because it just -- continues to make news. And that is the value of the Euro relative to the US dollar you know we we squat about it last week when it hit 121 because -- was a major breakthrough today agent of Euro trading at a dollar twenty so. And I am not hearing a dollar eighteen is on the horizon very soon so really Hulu will find out but a rough day for stocks the last couple days of trading. However in a week it could have been worse. Right now we have about 75%. Of companies that are reporting earnings that are beating their earnings estimate. But we're gonna go to Indy cinco who knows this stuff -- -- good morning welcome to financial exchange our. Morning bury him all right thank you. Had a a mixed bag. For earnings I noticed UPS this big this morning. In their chair shares are down I believe about 4% did before the market even opens. Yeah out -- they are -- Big -- because they're just vote closely tied into the economy and that's perhaps what most. Surprising here is that bad. Be -- weak economy is the reason why they cut their full year forecast you know they're they're saying it's increasing uncertainty in the unique US. And of course continuing weakness in Asia and Europe is in Europe the -- to continue to be a problem though they are cutting their numbers. This morning because of that that will not be good news -- and that might very well -- on. The overall indexes but you know -- in one of these funny days you know as you noted. Big drop initially could not yet been able to find their way back by the close it and cut their losses. And now this morning after being lower for most of the day analysts seeing the F competed down and at that speech is turned ever so slightly higher. Well let me ask you the because I've been reading the reports and just about every big multinational. Company. That reports is saying they're struggling with currency valuations can you help our listeners understand why UPS might be impacted by currency -- FedEx might be impacted by currency. The value of the US dollars getting stronger and make a lot of listeners are saying to themselves okay this doesn't make sense that US dollars getting stronger oil prices are going down. Yet multinational companies are saying they're struggling because the US dollars getting stronger help us out. Yes so -- See you this do you think that he'd been in mind -- one is that if a company does not -- their currency exposure at all boat to take the Euro as an example when they when they convert from their profits from Europe back in the dollars. As the -- gets weaker in the dollar gets stronger. A company like EPS their product that profitability discuss them. Now if they are hedging meaning they're taking out some sort of derivative contracts or futures contract with. -- -- -- And they had the wrong way they've had too much or too little. You know battle -- is the financial basis can affect the their earnings then that my suspicion is that many companies did not see. The weakening. Continuing for the Euro and let that happen. They're they're giving more of more of the hits to their earnings as this continues to ride on. -- your viewpoint you know the stronger dollar does make oil prices cheaper yeah it does make it easier for companies to buy commodities and and shipping in all that -- You know it's a with a double edged sword but when the weakness skipped out of hand in the Euro. And companies are not prepared they did it hit right on the head. In terms of their -- India I have to ask you the June alluded to earlier apple reporting earnings I believe at 415 this afternoon what's the what's the whisper on Wall Street week. Because I -- -- I don't think this market as a whole lot one way or the other until we hear from apple. Yeah eighties into this company always as a very conservative. Ford casting and so we the Arctic would expect them to -- -- somewhere in the range. You know fifteen to 20% because that is just generally what they. What they do you write that based audio forecasts in the dollar they would probably report more like a -- fifteen or about one. Though you know the current estimate for the third quarter which is what they'll report that estimated. Ten dollars and 37 cents though you know way if we just do a little bit map there. You know -- just. Put it up by 15% you know we're talking almost twelve dollars -- there. You know now again now seem like this monster be twelve dollars vs ten dollars and forty cents and. -- that's only 15% better than what the current estimate is and you know one sort of have to wonder is that going to be announced again apple did. To go back up to record -- it's been holding at this 600 dollar mark the record highs just shy of 650. And holding above its fifty day moving average battery you know is much is that apple at thirty weeks. In March April and may the stock is turned it around it holding its place. And you know 88. Decent earnings report this afternoon could very well have a talking about the safety of 700 dollars a share for app now port. You know the reverse is -- they -- -- -- and died down. Talking more like men you know 550. As an initial stop peer may -- 500 dollars like it tested that the 200 day moving average so. You know could perhaps on the ballot to the -- -- -- the dollar to the downside and what -- that. While all right -- and we sure appreciate your insight thank you very much for joining us out there that's a ND single from Bloomberg News joining us today on the financial exchange.
