The First Look - Andy Cinko, Bloomberg News
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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)
916 here at the financial exchange jocks on -- filling in for Barry Armstrong. With June night and we are joined now by any cinco from Bloomberg News and the did you get to catch the entirety of the national championship game yesterday by any chance that. I'm a -- -- I petered out before the end of the game. We'll be honest the game was over about five minutes and so he talked about it all so. I don't think humans -- box let's let's get into this what happened in the markets yesterday -- -- markets. I'm slightly yesterday was this religious consolidation of last week gains at this point. Yes and certainly and this is what happens to market and don't go up in a straight line we get these little -- -- Michael. You know after a big rally in. Alternates have been reading from the tactical last analysts keep paying the same thing nothing to worry about. No real change in terms of the tenor of the market and no real selling to speak out. Absolutely and and looking now what we have coming out today the big news Alcoa is kicking off earnings season. What our expectations for them I know this is accompanied has struggled over the last several years are things looking a little bit more optimistic for them now. You write about it being struggle because this year if you look at the entire year a -- expected report point 4% for the against the entire year. For the fourth quarter forecast that extent now for the entire year earnings are expected to drop 66%. And last year. Meaning 2012 vs -- -- and then eleven and again part of that has to do with that drop in the price. Aluminum and and based. Product that goes into making aluminum. And of course lower demand worldwide yet problems in Europe -- problems in China yet palms here in the US. You know so cyclical like Alcoa and its struggle now we look at it and it is this year to about thirteen -- to -- both -- pop. Rising 167%. Or more than doubling in terms of their earnings from one year to the next. Though it you know that's one gyrate around a lot shut in is not a Bellwether for the market just. If it happens to be one that we spoke at because that happens to be the first large yes -- -- the company to report its earnings. You know -- we closed the quarter so he I think what you could look at those terms about code whatever comments that make about the global economy will the state. But the trend. Improvement in China and what they have to say about. Especially US demand we're we're really expecting them to perhaps increase. -- -- it's always interesting to see how much importance. Folks' place on something like alcoholic just because it comes first it's almost like the New Hampshire primary where you say it's this tiny little state and it carries so much weight to some people so yeah it'll be interesting to see what they actually say. About where things are going this year but. Moving -- now to take a quick look at the tech sector. -- did have news that came out today that the the new Samsung galaxy phone is beating iPhone sales just by itself which we we've seen for awhile now that. Apple has been losing the overall market share battle android but is this a little bit of a concern a single phone is now beating them. Probably not. And the reason that they that is once again the web site that heated up with discussions of what kind of phone. Phone apple is testing there was talk of whether it was an iPhone six the weather might be an iPhone 5 at. We know that there's a new element being tested in the apple. Headquarters you know based on the you know these -- -- if you will. And you know to Apple's certainly got something up that leave and we'll have a new product out within the next few months -- it normally does. And so I don't think -- -- you've got company that it. Trying to integrate more completely the. Apple ecosystem from you Mac two years iPad two you are. On and so long that does more of that analysts they're fairly certain that apple will hold onto its market share continue to grow and of course don't forget. China is a huge market and an apple is only just begun to tap that market -- the CEO of apple. Is in China again for the second time that many months that they build up more stores. Yeah I do find it interesting that he's all the way over in China at the same time that the Consumer Electronics Show is taking place right now yeah what does that tell you certainly he doesn't seem to threaten -- at this. So that is sticking with -- FaceBook obviously has that -- rollercoaster ride since its IPO last may the stock now which rallied about 70% since its lows earlier this year is there anything in particular driving the movers -- still just investor speculation. -- there is the actual. News from analysts about what is going on here William Blair earlier this month was talking about. Checking in with advertising agencies and they say that the FaceBook exchange partners and market they're all coming back and they're being more positive. On this system not a FaceBook exchange what you put out advertisements. Over the FaceBook. Network and that seems to be more rapidly being adopted by advertisers. And if that's the case then FaceBook should be able to have higher clickthrough rates has more impressions which of course turned into actual revenue. Or FaceBook and in the last couple of days that the new comment about about the mobile -- FaceBook and -- -- seem to be picking up pace though. You know exactly together suggest that perhaps FaceBook is it on a winning combination sports business model that'll be yet. That'll put out believable and and regular profit that that people can bank -- -- -- stock of that 67%. There is a lot of expectation built into. The companies of course earnings will be key to this one and we could have either aren't huge Popper he's declined but I think what he took them. -- definitely something left to keep benign and -- have to ask you one last question are you gonna be watching any of the any of the football games this weekend now that you're giants are unfortunately Al. Of the playoffs. If there's a giant is no football right that's what I told the kids great once once the kind don't make it. That's that's -- and it over. That's there's no crying in football not know giants in football snow and the place. It was kind of like you know a weird it may be like below the -- question Andy and if it was kind of an agenda to that question. -- -- Andy and I had the baseball yankees don't make it that. -- even though. Andy and I had an ongoing battle last year that the loser had to buy a mr. potato head dressed in the opposing teams collar. -- so unfortunately we lost not one but we'll have to see what happens this year with. Big game for the patriots this weekend and yet you wanna thank you for coming -- -- this again appreciate the insight is always. All right that was Andy -- from Bloomberg News coming up we are going to be joined. By Peter Anderson from congress asset management that's coming up after this break on the financial exchange.
