Jan 9, 2013|
What's Up On Wall Street - Cheryl Casone, Fox Business
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
We do have Cheryl Casone from fox business and -- it is good to have you with us this week. Good morning how we do our -- we're gonna a lot happening here in new York and around the world now. -- is happening outlook. It doesn't let's get started with some of the news that came out yesterday we did have the official start of earnings season with alcohol reporting after the bell. How did their earnings a walk. How can -- looked OK I mean they're cautiously optimistic. For the rest of the year and I think that you know -- -- -- but to revenue that was good on what was encouraging I think a lot depends obviously on the global. Picture I'm looking picture and it -- that the -- Alcoa economy there are now acting as a little bit of optimism and -- -- numbers. And in terms than about the next couple weeks obviously everyone looks alcohol because they're the first company. Put it in terms of looking at the true bellwethers. Of their earnings season starting. Who are you looking out over the next couple weeks to tell where things again ago. I think decrepit Mulligan you watching closely it's gonna be retail a lot of things can happen in the recount practice practice that -- -- an end and that to be out in the we have the superstore. -- addition an independent Connecticut all of that. Frankly kept up a bit of a town hall every shot that we we -- in the December numbers from a bigger -- target Wal-Mart do what you may see even if it's. I mean it just that these companies. In the bulk of their revenue -- and that holiday shopping season from Thanksgiving to New Year's. And unfortunately we just have a lot of bad news. That affected them and ill to have consumers that or being -- by -- that -- -- debate that was bringing you know the emotions. And into negativity to the emotion of the shopper. About the that's the one that term and the most concerned about right now is gonna be recount Al I think we're gonna have to watch the when he pencils very closely we're gonna get a lot of the big enough names next week come in just a lot of pressure on the bank. Not just because of the you know new regulatory changes that prank. In all those other good stuff that. But you know all these elements that are going on with regards to mortgage fraud mortgage lending -- -- -- after a lot that can be winding down. The banks still seemed to be a favorite target. Not just. Washington but in particular. Pregnant and now you'd never know the next people -- -- the coming up but can it that we need to go after the in the alphabet. On out and my colleague I should bring that to you and your listeners my colleague actually got mailed a few moments ago. Brad -- is that market and making up 6% of the workforce. On to take out Bartlett out the financial industry which is -- -- dotted -- 2000. Absolutely it's on the you kind of wonder how they have anyone left to fire at this point it seems like everybody should be gone but. Apparently they do still have some employees right now so let's take a look at another company that's been in the news over the last couple days. Boeing has been having some early noticeable trouble with their new 787 they had some electrical issues some electrical fires -- that -- either. -- cut short or canceled altogether. Is this an overall concern for the company I'm looking at the stock today it's back up 3% taking back some of the losses from the last couple days so. You know from my perspective it's a new plane you're gonna have these types of issues but do you see anything differently. Telling -- up. And at the dreamliner and it beat it into Japan airlines. -- -- You'll make part of the things that's about it. -- and your personal it would. And the -- the bowling together if they can remember this aircraft was delayed three years. Campbell it was not only behind schedule but -- that haven't yet to repay. Not -- creditors accompanied. That it dividend capital explain. They had that back now on the on the the first plane -- into the -- on the -- but. Another trying to play catchup and it got this issue when you have an investigation by the and -- speak on an aircraft and electrical systems in particular. In in the fuel leak and media outlet together that that's a lot of pressure about it because in the capital invested. From men and the and the -- that and other other. Packed airplanes that are you know producing excellent and they haven't coming up those -- That they're active in building a decade and there's not comfort level that I hoped that that dirty about it. Can potentially help -- avoid the problems that. And then also turning our attention now to everyone's favorite tech company. Apple has announced -- not not announced there are rumors now that apple is going to be putting out -- cheaper iPhone sometime later this year so what are your thoughts in terms of they could this possibly cannibalize some of the other iPhone sales and beat. Do you think this is an effective move for apple to start taking back a little bit more market share in the out lower and Smartphone. And I applicant a bigger problem just cheap price and I'm not surprised they're gonna come out with a cheaper iPhone but. And advocate that they can reach that bad that night they reach out more Americans that they can also. Start to penetrate more than emerging markets that they act now what to what they need and want it any one of the allied -- -- overseas. To. And it looked more countries than -- it's likely that they can't afford the I found that they can and are back. But they wanted to -- -- -- -- bank they're bigger problem and not under the pick out a product that and kind of coming out west are at the abuse are are are out of this world and not. The younger generation -- would watch let me I'm obviously at 22 I've spent much of what the 22 year old thereby enabling crazy over the galaxy not. -- -- I think that Apple's been. In the galaxy actually outsold the iPhone just by itself in the last quarter so you certainly have some concern there I think. Absolutely in -- ally in tablet to pick out if I have an opponent of galaxies that suspect. The numbers are -- that what we're saying what we are hearing an analyst at -- in an apple needs to be on their part out of you know apple isn't very -- company recently indicted company. But between the other taxes used to be overseas -- -- -- -- -- production -- they had. You might -- -- -- slipping for the iPhone it is galaxy that continue to take market share a man and it ain't got to be on their guard absolutely. -- and you know it is the MacBook. Going away is the iMac going away meanwhile worsening of the complete script that the pollen and the ability. YouTube -- them buying if you like they used to anymore at all the coming hand held wireless and mobile and that's what. The consumer want and that's where we're going. Everything's violent grade but what happens to do as production lines at apple -- Relies on opera and then you don't get me started on you -- me of the PC makers there. -- -- -- -- even the Dallas still trading company at this point it's used so little about aside from when they miss earnings right now so it's again it will be some that we do have to watch over the next couple years the tech sector I think he's going through another one of those big revolutions right now where all the -- about mobile from the last few years is finally starting. To become realities it can be very exciting to see. Who comes out on top after -- so sure I do appreciate it coming with us this morning and I certainly will catch up with the next week. All right that was Cheryl Casone from Fox Business. We are going to be joined by Aaron award from the Boston Globe. Talking about that big sale from now bankrupt 8123 systems being sold out potentially. Chinese competition that's coming up on the financial exchange.