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tv   FOX Business After the Bell  FOX Business  October 9, 2012 4:00pm-5:00pm EDT

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alcoa, yum brands on deck for earnings. all of a sudden i started to see alcoa pop for a second there. >> reporter: yeah, those are off about 4% and yum brands pulling back a bit. david: coal stocks getting a big boost today, but other than that it looks red across the board. the bells are ringing on wall street. a little bit of fear factor wondering whether this is the beginning of the correction. october 9th, yes, a couple of years before october 9th we began a correction. whether this turns into one is sttll unclear, but again, we're trading to the downside as we went into the final bell, and it looks like it's trading a little lower as it kind of settles here. dow jones industrials down over 109 right now, s&p getting hit harder percentage wise, down 14.3. nasdaq getting hit the hardest of all of these four indices, 1.5 percentage points, and the
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russell 2000 down as well, getting hit hard, down about one and a quarter percent. liz: yeah. david's right, a lot of that is apple. the home builders, though, seeing a big drop. let's see how that impacted pkb, the building and construction etf. you may own them individually, vulcan, home depot and ingersoll-rand, right now down about two and a third percent. david: and let's look at oil. we did see a 3% top today. the u.s., i think we can put the u.s. up there as well which is a trading stock that focus on oil. you can see it got a pop. again, questions about whether this is just temporary or whether it's indicative of something long term, we don't know. if, in fact, there is a correction because of an economic slowdown, these figures might change to the downside. liz: and maybe you felt better about the economy? the consumer apparently pricking up its ears. the consumer discretionary area was the worst performing s&p sector today, but it's actually done pretty well over the past year. let's look at xly.
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this includes names like comcast, walt disney and amazon. some say the consumer hasn't done that poorly lately. all right, here come earnings season, yes, two big names, dow component alcoa and fast food giant yum brands set to release earnings in just a few minutes. we have got instant reaction and analysis. david: also a u.s. congressional report naming huawei a national security threat. now the company has come out swinging, defending its practices. bill plumber is the vice president of external affairs of huawei, and he has some very harsh words for congress. he is going to be here straight ahead. liz: yeah. we'll ask him about the competition too. so much to talk about there. but first, we're going to tell you what drove the markets with today's data download. stocks started to slide after that first hour, couldn't recover. all three major indices lower following a weak economic growth forecast from the imf. the fund saying it's going to be worse than they expected but still seeing three plus percent
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growth there. the dow crossed the unchanged line 20 times in the first hour of trading. but slipped into the red for the rest of the session. technology and consumer discretionary today's worst performers, and as we said, energy the only sector to end in the green. palladium, this is the metal that helps catalytic converters convert. it was the sole gainer among the metals today to rise to $658.20 an ounce. a stronger dollar weighed on gold though as the precious metal ended in the red for the third straight session, falling more than $10. and u.s. small business sentiment weakened in september for the fourth time in five months. the national federation of independent businesses said its optimism index fell to 92.8 last month as fewer small business other thans expected to hire and to make capital investments. david: we have all of this covered with todd horowitz in the pits of the cme, david is our resident bull, and tony is a growling bear. they're going to duke it out in our street fight today.
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let's start, though, with todd at the cme. todd, i was discouraged to see those few minutes at the end there of the trading session going down. doesn't foretell well for what happens tomorrow, does it? >> good afternoon, david. no, it momentum. and the market's a little heavier, but one thing you have to look at, the roll yule was very poor today, waiting to see how these earnings seasons start to play out. we have a bearish she scenario e as well because we've got the russell and the nasdaq both underperforming the dow and the s&p, and with the s&p today, it was bringing up a very bearish scenario. we might be starting to get that correction we've been looking for. liz: okay, that would be interesting, wouldn't it? as you look at the vixx and that volatility index, it's still relatively low. vanguard came out and said for the first time ever more of their fund participants and clients own bonds instead of stocks? i don't know, todd, that looks very, very sort of contrarian to me. i say i'm going into stocks. >> you are very correct.
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the vixx is a concern because there is still much complacency here in the market which is why we've been able to hold up and not have these major selloffs -- david: hey, todd, we got the news from alcoa. go ahead, robert gray. >> reporter: that's right, david. alcoa's numbers coming in. when you exclude items on an operating basis, they earned three cents per share, the estimate was for break even, zero scents. revenue number's $5.8 billion for the quarter exceeding the estimates of $5.54 billion. they did take down their forecast to 6% from 7% citing the slowdown in china, saying that will impact the second half. look, though, they do still see seven and a half times current demand by the year 2020. they're standing by that, and they're also saying that according to alcoa what they're seeing as far as demand goes, it is separating the price of aluminum from fundamentals, it is clearly following the macro sentiment as the folks at alcoa
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put it. three pennies breaks the estimate for break even. david: i'll go back to todd at the cme on this. the fact is expectations were really poor, so anything on the plus side, that may pop. we see a little bit of a pop in the stock after hours, but this is good news, right? >> it's good news, but, you know, alcoa has never been able to recover from the crash of '08. it was down from 40, it's been stuck between $8 and $15. it really doesn't trade very well anymore. and, yes, it's good news for the overall market, but it's beating downtrodden earnings to begin with, and they've never been able to come off the mat, so it's not one i'd be looking at ear, although i'm happy to see they beat. liz: well, and on top of it, they've permanently closed their smelter in alabama, and can you cut and yet grow at the same time? a lot of companies have been able to do it, but in a tough economic atmosphere with so much against materials at this point, can alcoa really set the tone for the market tomorrow?
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>> i don't think so. i think the news itself might help set the tone, but i think that alcoa is really a broken-down stock in here. i don't think it has a lot of future potential. it's not one that i would want to be involved with. so maybe the news that they could beat earnings, maybe the news there's a little bit of help in the aluminum world can help, but i don't think this is going to be the big catalyst. david: todd horowitz, thank you very much. we're going to come back to todd when the s&p futures close. liz: the smelter, by the way, in tennessee, not alabama. mainstay capital management's ceo and chief investment strategist david cut la, and our bear is tony. it's great to have you both here, and i want to begin with our bull, david. all right, let's start stamping your hooves here, and you tell me what is really at the heart of this. and i guess you could throw in a comment about alcoa, too. better than expected on both top and bottom line. >> yeah. alcoa coming in with better
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earnings on revenue and profits. now, alcoa has not provennto be a good barometer necessarily for earnings season in general, but it is still considered somewhat of a barometer for global manufacturing, so it's good news all the same. liz: okay. >> and if we look at this earnings season we're heading into, we've seen four out of five companies with downward revisions and overall earnings estimates 2-4%, so we're going to see some surprises this earnings season which could add to that bullish scenario. david: tony, you are a bear here, but you're not saying get out of stocks entirely, are you? >> no, i'm not saying to get out of stocks entirely. you know, capital is going to chase yield, and the best way to do that is through dividend-paying stocks and high-yield bonds right now. david: but specifically, i mean, a lot of people -- clearly, there was across-the-board selloff today, maybe that's too strong a word, but people were erring on the side of getting rid of what they had, counting their gains and holding on to
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the cash until the time when some of this uncertainty has passed, namely the election. >> well, there's two, there's two forces going on right now. you have monetary easing, and you have the fiscal cliff coming up. and from now til the election, i can really see that we're just going to move sideways in this market. it's between the end, at the end of the election and the end of the year is when things are going to start getting very volatile. you know, people are going to -- once the election's over, the fiscal cliff is going to come into fruition, and it's going to start to become a reality. liz: we're all gonna die. obviously not, david. you can still invest, can't you, and come up with great ideas? what approach to investing do you take, david? >> liz, your comment is very good. we don't have the end of western civilization coming. [laughter] we have a fiscal cliff that we know can't be addressed until after the election. as we get closer, there's more anxiety about it, but there will be some sort of compromise. we will get --
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liz: so how do i informs in that atmosphere? -- invest in that atmosphere? >> in this environment we think you go with what we refer to as our barbell strategy in equities. high growth sectors like technology, financials, home builders on one side, and high yield as tony talked about on the other end, high-yield bonds, emerging market bonds, preferred. that combination, that diversified portfolio has given, you know, a nice diversified approach with steady returns in this year and solid returns, and we think that continues to be the way to go through year end. david: all right. but, david, even you, the bull in this scenario, you see a pause right now. perhaps just a momentary pause, but until we get rid of this fiscal cliff problem, etc., and you do think that we're going to deal with it, you think eventually the politicians are going to solve this problem, why don't we just take our gains right now, hold off, maybe hold these gains just for a month or so until that fiscal cliff and other problems are resolved? >> you could. if someone wants to try to time
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that pullback. we're down 2% on the s&p, 3% on the fashion damage. maybe that goes a little bit further. but we don't know what next good news is coming out of europe or positive -- there's a lot of negative news out there right now with the imf this morning and all the concerns we've talked about. new the face of that, the -- but in the face of that, the market has continued to climb this wall of worry for four months. so how much further this pullback will go, anyone knows. for long-term investors, we think you stay invested with a diversified approach, and we look for more gains by year end. liz: tony, i'm always interested to know how people who are worried about things on the horizon invest. what is your approach? when clients say they still want to be in somehow, how should they be in? >> you know, again, it comes down to capital is going to chase yield. and the only places that we see yield right now are in dividend-paying stocks, high-yield bonds just like david said -- liz: okay, so do you have picks?
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is there a way to actually put that to work with financials? >> i think vym is a great place -- liz: hold on, one second. hold that thought, we've got yum earnings. i'm so sorry. robert gray, how'd they do? >> better than expected on the bottom line, liz, a dollar per share, 97 cents was the estimate. but revenue looks a little light, 3.57 billion, and you're looking at an estimate of 3.65 billion. same-store sales up 6%. they are, by the way, boosting their full-year forecast by 13% up to $3.24. hence, you're seeing shares moving a little bit herer in -- higher in after hours trading, up by two-and-a-half bucks or so. liz: everybody wanted to know how the same-store sales were in china -- >> up 6%. liz: when you see a breakout, will you interrupt us? >> reporter: i will in just a minute. david: by the way, they opened 192 new restaurants in china. i think about ha half of their
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operating income comes from what's going on over in china. they are plowing ahead with a 700-store openings planned, but they have already opened a hundred. so they have gone all in. robert, go ahead. >> reporter: china system sales up 22%, they opened 192 restaurants there, same-stole sales was 6% there. and that's before the currency translation there, so those are the sales coming out -- liz: everybody needs to be concerned, though, because if china's economy is slowing down, and this is something that you as a stock owner if you're out there watching this stock, if china's economy starts to squeeze that emerging chinese customer, they're not going to have their weddings at pizza hut. it's unbelievable. they're a hot, hot company there in china. if something happens, you've got to watch out for that. robert, thank you very much. robert gray. let me just get back as we were talking to tony, and i was asking you, you know, what are
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your ideas for actual money being put to work. >> well, you know, low beta plays right now is a great way to go. you know, staying away from the high beta plays is, obviously, something that we want to do in times of volatility. and having, you know, dividend-paying stocks, you know, doing that through an etf like bym is a good basket of dividend-paying stocks that are in the defensive sector while you can still pocket a 3% yield. liz: a vanguard high-dividend yield. david: and yum. tony, you're big on yum. you must be happy with the news, right? >> well, i mean, it is great, you know? 50% of companies are missing on the top end, so to hear 'em do that, you know, it's good news. david: all right. tony and david, thank you, gentlemen. good to see you both. appreciate it. liz: thank you very much. david: chinese telecom giant huawei is being called a national security threat or at least it could become one by a new congressional report.
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the company isn't taking the accusations lightly, they're calling it reckless, and we have huawei's vice president of external affairs to make his case coming up. liz: don't miss that. plus, don't miss this: orasure, the company that came out with the home hiv test, that test hitting stores you can take it home, do can it privately. could be a huge game changer. the ceo joins us in his first be business television interview with a look at this revolutionary product. and stand by, he is going to tell us who they have signed on as their first big celebrity endorser. we'll tell you right here first on fox business. stay tuned. ♪ [ male announcer ] what if you had thermal night-vision goggles,
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liz: so alcoa just kicked off earnings season, reporting third quarter results minutes ago. let's head back to nicole on the floor of the new york stock exchange for more on this. >> reporter: let's take a look at where it changes right here on -- closed right here on the floor of the new york stock
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exchange. 9.13, moments ago around 9.20 a share. further headlines about their forecast going forward, they did raise their automotive 2012 north american forecast by 1%, but at the same time now the expectations for the truck and trailer market growth forecast, they're having to lower that. they also swung to a third quarter loss on some charges, and there's a look at alcoa's earnings per share which did beat analyst estimates. this dow component will set the tone going into tomorrow and earnings season. back to you. david: thanks, nicole. well, you may not recognize the name, but huawei is the world's second largest telecommunications company, and it's facing scrutiny from the house of congress over concerns about its ability to share sensitive information about americans with the chinese government. now, the house committee investigating huawei says the company has not been very cooperative in answering questions and sanctions against the company are now looming.
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liz: bill plummer is joining us now. you picked the short straw. i mean, these are unbelievable allegations and, in essence, it comes out of a report. it's not a sanction yet, but this report out of congress finish -- and in essence the house intelligence community saying not only could you guys be a vehicle for spying, but also that there are bribery and violations regarding all kinds of other issues. so your response, first, to the big one, and that is that you guys would put in equipment and put in some type of back door that would enable you and the chinese government to spy on the united states. what do you say to that? >> well, a threshold observation, it's absurd. huawei is a $32 billion multi-national company doing business in over 150 markets with over 500 telecommunications operator customers including the national operators across
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virtually every oecd country. we would not put our commercial success in jeopardy, nor compromise the integrity of our customers' networks for any government. it would be, it would be ridiculous. david: bill, if that's true, i'm just wondering why the company wasn't more forthcoming in its, in its answering the questions by the committee, at least according to the committee. i'll give you a chance to answer that. but according to the committee report, and i'll read it to you, neither your company nor zte, the other company under scrutiny, was willing to provide sufficient evidence to ameliorate the committee's concerns. david: is that accurate? >> no. so last november when the
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committee launched its investigation, they issued a press release. in december huawei met with committee staff in washington, in february we hosted committee staff for a daylong visit in china at our headquarters. in many may we -- in may we hosted committee members and staff in hong kong with our ceo. in june we received a list of questions from the committee which we responded to in short order in early july. in september we made a witness available to testify before the committee and subsequently answered an additional list of questions. we have been remarkably responsive -- david: but, bill, why would they say that you have been uncooperative? >> it is somewhat disturbing to imagine all of the information that we have shared over the last 11 months, piles of documents, hundreds of e-mails and the product of what was a good faith exchange from
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huawei's side, the committee's report is a booklong version of the november 2011 press release. liz: so i'm thinking -- >> no substance. liz: bill, i'm thinking that if we were to hear from a conference room filled with huawei executives talking off the record, they would say -- and you tell me if i'm wrong -- but this is our competitors, like cisco, the big one that does a lot of government work out there, trying to bring us down. do you have any evidence of that, or what is really behind this? >> well, i think there are a number of different factors. you know, huawei has grown explosively over the last ten years. um, again, across 150 different markets and with 45 of the world's top 50 carriers as customers. across europe, across asia, in canada, through latin america and africa. and during that time as we've been growing, it's certainly made some of our competitors nervous. and during that time that we were growing, we didn't do as good a job as we should have in protecting our brand. so there is a lot of
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misinformation, but also disinformation which is either competitor or politically inspired. david: all right. we want to, we want to get more information, bill, about your charge that this is disinformation, but we do have to take a break. can you stay with us through the break? >> absolutely. david: okay. we're going to have bill plummer come back, spokesman for huawei. very, very serious charges on both sides. more to come. flrch [ male announcer ] uldn't it be ce if there was an easier,
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david: this is a report, this is a report by the house tell against committee that maybes some very substantial charges against the company huawei, the second largest telecom company in the world an a representative of huawei joins us now. bill plumber. bill, you said in this report there is disinformation about the company. can you be more specific?
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>> i wish i could be more specific because in fact the report doesn't even have enough substance to find the disinformation. it is simply a list of allegations. look, there are two basic facts that expose this report for the political exercise that it is. one of those, huawei, is an employee-owned company that is respected and trusted by 500 operators around the world including the major operators throughout europe and asia and elsewhere. liz: let me jump in there, bill. >> one more thing. liz: sure. >> our products, the quality and the integrity and the security of our products is world proven. that is a fact that can not be ignored. liz: you are doing business in a lot of countries but not australia. in fact australia's government banned you guys from bidding on a high speed national network because they had concerns about cyber attacks coming out of china.
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when you look at the actual report here in the united states, some of the allegation, again we stress allegations, are that you have members of the government inside your company and china middle east -- chinese communist. china is run by economist. did not come you any of thes. that brings up concerns whether you guys are somehow putting in so-called back doors so you can peer in and see and sensitive got contracts shouldn't be offered up to you guys? >> well in the case of australia, huawei actually counts as customers every major operator in australia, our gear is employed in australia. liz: not at government level. >> in terms of broadband network decision made it was unfortunate. you have the 12 broadband projects huawei is involved in all of them, including the u.k., new zealand and elsewhere. the argument there are somehow vulnerabilities in
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huawei are unique has never been sub standed by the committee. it is allegations after allegations. hear is the kicker. hear is the kicker. the after this investigation was launched much the committee expressed a concern protecting our cybersecurity. launched investigation into two companies headquartered in china as opposed to companies developing code and product in china. if the committee were serious wanting to protect cybersecurity they would be looking at huawei and zte and sysco, ericson and siemens a alcatel lucent and acknowledging common supply chains between all the companies and acknowledging common vulnerabilities and proposing solutions to address them. anything else is a political exercise and a distraction. indeed a reckless distraction from actually addressing the real concern. it cceates a false sense of security. david: bill, very quickly, in the report it does say that the committee has
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received information from former and current huawei employees suggesting that huawei in particular may be violating united states laws. have they told you what laws it is they think you are violating? >> we have seen nothing from them. they have never mentioned any of these things in 11 months of conversation. we do know that last week there were a flurry of phone calls from the committee staffers to former and current huawei employees asking them lists of questions, begging to get some sort of information. we assume that it was that last minute flurry of phone calls that produced this, these allegations but we haven't seen them because the committee hasn't chosen to share them. david: bill plumber, from huawei. appreciate you coming in to answer charges. the concerns are real but again the substance has not been fleshed out in this committee report. i have to give you, give you your say on that. please come back and talk to
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us again as we get more details, would you?. >> absolutely. thank you very much. liz: you're welcome. that was an important story. we saw it. big competitors out there like cisco and the question becomes what is really behind this and driving it? we're watching closely, we need security but we don't want trade wars either. one giant retailer giving same day delivery a shot in select cities. we have details coming next. liz: orasure in home over-the-counter hiv test hitting the store shelves today. one well-known celebrity spokesperson signed on. >> who, who? liz: we have orasure's vice president to tell us who it is straight ahead [ male announcer ] this is the age of knowing what you're made of.
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>> welcome back. some breaking news out of microsoft. microsoft putting out a release saying reed hastings, the ceo of netflix will not seek re-election to the microsoft board. they're saying he will serve through the annual meeting which comes up in november next month. again, says the board will
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appoint a new independent director at that time. hastings will continue to focus on the netflix board and its education where he serves on the boards of netflix and facebook. capital one says they have restored their online services now after a denial of service attack. again capital one confirming to fox business its online systems are once again working after denial of service attack. with that back to you in the studio, guys. liz: thank you very much. reed hastings dealing with drama at netflix. will not seek re-election at microsoft. orasure hiv test we talked about this couple months ago now hitting stores in a town near you. a high-profile celebrity adding buzz to the launch. first on television interview, doug michaels, orasure ceo and president. here in my hand is oraquick this is over the counter,
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walk in, buy it. david: go home, do the hiv test. you are here first to talk about this and its available now here, folks. who is your celebrity spokesperson? >> we're very happy -- first of all, liz, thanks for having me on the show. liz: always. >> we're delighted to announce today we'll be working with magic johnson to help us get the word out to consumers about the importance of knowing your hiv status. we're out with magic today, tomorrow, working with him through 2013 to continue to emphasize the importance. liz: what does it mean that you've got one of the most well-known sports figures, frankly any celebrity around, everybody knows magic johnson and that he tested many years ago for hiv but he's alive and kicking today, doing beautifully, hugely successful businessman you were able to land him? what did he say when you approached him? >> magic is tremendously committed to the whole fight against hiv. he has become the face of hiv to most of america and
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most of the world. he is extremely committed to help educate americans on the importance of knowing their hiv status. he represents what is all good about early diagnosis because you can get connected to care. you can get on therapy and you will live a long and healthy life but the important thing is to know your status and to know it early. liz: know your status, these are just the who know it in the u.s., 1.2 million. many don't know because there is stigma still attached not as much. i can go to wal-mart. go to cvs. kroger's, many, rite aid as well? >> walgreens and rite aid. liz: the cost, 39.99. you and i were talking about this. closer to $17 for health care professionals like doctors, et cetera. do you think the price will be a little prohibitive? >> liz, we studied the pricing point very carefully. we think that is an affordable price. we're not looking to replace the good work being done in public health clins or
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doctors offices or hospitals. this is another option for people to access hiv testing and to be able to perform the test in the comfort and privacy of their own home. liz: talk about you are international expansion. right now it is pretty much available over-the-counter here in the u.s. at some point are you working on getting onto the store shelves in africa nations which hiv is a huge issue? >> since we received fda approval on july 3rd, we've had a tremendous expression of interest from other countries around the world. we certainly intend to capitalize on those opportunities, not just for the good of the company but to present this life saving technology into other geographies where people can take advantage of them. liz: we're a business network. people that watched us a couple months ago, had they bet on your stock would be up 13% year-over-year. that stock has done well. when do you expect to start to see this add to your bottom line, become accretive? >> like you said, it's available now. people can buy it at each one of those different
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retailers. we're in 30,000 stores. the product is available at our own branded website, and and other retailers will be available on their websites. liz: 39.95. perhaps gives you peace of mind. doug michaels, thanks so much. big announcement on fox business, magic ervin johnson is the celebrity spokesperson. >> absolutely, liz. liz: david, over to you. david: you heard it here first. they were ranked as top three startups by "the wall street journal" with clients like cisco and ericsson they have made a quite a name for themselves. how did start from nowhere to work with these guys. ceo of tabula is next bob...
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oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't rlize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i glad we're both running a nice, clean race. no need to get nasty. here's yr "honk if you had an affair with taylor" yard sign. looks good. [ male announcer ] fedex office. now save % on banners. [ male announcer ] fedex office. energy is being produced to power our lives. while energy development comes withome risk, north america's natural gas producs are committed to safely and responsibly providing generations of cleaner-burning energy for our country, drilling thousands of feet below fresh water sources ofwithin self-containedgy fwell systems.y,
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and, using state-of-the-art monitoring technologies, rigorous practices help ensure our operations are safe and clean for our communies and the environment. we're america's natural gas. >> i'm robert gray with your fox business brief. alcoa kicked off earnings season with better-than-expected profit and revenue for its third quarter. the company reaffirmed its long term outlook that aluminum demand will double
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by the year 2020. yum brands beat profit but missed on revenue. the company raised its full-year earnings growth forecast to at least 13%. capital one says it has restored online services after suffering a denial of service attack. a group claiming to be allied with an islamic terror organization had threatened to target the company today. it is the same group that claimed responsibility for attacks on bank of america, jpmorgan chase and the new york stock exchange. fox business has learned the group is targeting suntrust tomorrow and regions financial on thursday. suntrust said they're aware of the threat and are working to prevent disruptions. that's the latest from fox business giving you the power to prosper you see us bank on busier highways. on once emy fields. everyday you see all the ways all of at us bank are helping grow our economy. lending more so companies and communities can expand,
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grow stronger and get back to work. everyday you see all of us serving you, around the country, around the corner. us bank. david: well "the wall street journal" has published a list of the top 50 startups in the united states and the top three are all business product makers. so what is it about these companies that are catching the attention of investors? joining us now for a fox
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business exclusive is dennis igers a ceo of tabula, maker of computer chips and ranked the number three startup by "the wall street journal." congratulations, dennis. what do your chips do? >> thank you. it's a pleasure to be here. tabula has developed a new class of programable logic chips. david: english, dennis. english. >> these are devices that simply are programable by our customers to do a wide variety of functions. most of the applications we currently focus on today are in the information superhighway. they back up all of the applications in today's portable devices and are providing all of the information flow that we consume and share on a daily basis. david: but you know the incredible thing, dennis, and this is really the reason we had you on, you're essentially a startup. granted you got $250 million, but how did you get the startup money when you're
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competing with some real big guys? in other words, what can you do that say, an intel or an altera can't do? >> well, thank you. it's a breakthrough technology and, there's been a number of elements in fact that have attracted the kind of capital we have. we're, we've got a number of great vors investors. our last round was over $108 million. that was the largest round in any private semiconductor company in the last decade. we're developing complex technology. it's a breakthrough technology and in a vast market with great growth potential. and onp to of that i think investors were attracted to the team of talent we have. we have a lot of industry veterans who demonstrated track records of growing and managing billion dollar companies. david: but certainly intel and altera can afford to attract great computer scientists as well. how is it that you, a start up company, was able to get
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these guys? >> well, much of this is about the innovation that we're bringing to the marketplace and our view of how we can advance our customers applications going forward in time. david: i guess what i'm asking is, this is something a lot of people have talked about, whether there are economies of scale. some things that intel does very well but the bigger you get you kind of lose some of your innovative qualities, don't you, such as startups like your own have? >> well, it's true indeed that the pipeline of startups in the semiconductor industry have always been the lifeblood of innovation in this business. we continue to believe it continues to do so. tab you loo is in fact probably the epitome of innovation with our three d architecture. it is a break-through technology. it significantly advances the price performance of programable logic and brings unique value in a lot of really big markets. david: well, a lot of our
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viewers want to get value by investing in your companies. is it possible for the small guys to invest in we talk about crowd funding from time to time where you put out notice on the internet and you get small-time investors. could something like that apply to your company? >> technically that model is certainly possible. right now we are not, we're not currently raising additional capital on the back of what we have. we're a fully funded model to date. david: dennis sigees, congratulations, dennis. wonderful, wonderful success story. tabula ceo. liz: david, do you want free pizza for life? david: always. liz: you could have free pizza, hut pizza, for life if you ask the presidential candidates one specific question at their town hall debate? is this bababooy stuff? we'll ask what that question is. david: jeff flock tells you about a a run on the beach which you might need after
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eating all that pizza, from the comfort of your own home. that's jeff. ♪ [ male announcer ] how do you make 70,000 trades a second... ♪ ...reach one customer at a time? whatever your business challenge, dell has the technoly and services to help you solve it.
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david: did you ever dream of running on a beach on a bright sunny day instead of in a windowless gym? liz: i know, with snow and rain falling around you? life fitness is unveiling new technology to let you, the jogger, have a real virtual experience. shares of its parent company, brunswick, life fitness equipment soaring nearly 50% in just one year. jeff flock thought, are let me run over there to speak to life fitness president, in a fox business exclusive. where are you running jeff? malibu beach or somewhere else? >> mount shasta is what you're looking at right now. david: that is beautiful. >> incredible to be able to take this run. i'm in the chicago suburbs. here with, at corporate headquarters with chris clawson, exclusively as you said on the fox business network. your company has been carrying brunswick and doing a great job. this is the latest technology. tell me about it.
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>> well what you're seeing here is our discover se console. this is virtual interactive product we're on a course with ambient noises, and all the speed and elevations changes are translated through from the treadmill to screen. >> i'm cranking up the pace so we know. >> reliving track star moments from college days. >> and you can go faster and the course goes faster. and, this is never been offered before. >> no. it is truly unique about this we can introduce educational content. not only looking at something but learning about it at the same time. >> gotcha. this will go how fast? how fast can i go. >> it will go 15 miles an hour. we're going to auckland. we can go to auckland and run in new zealand. it is incredible. makes the running experience something you never experience at home. >> especially trying to run 15 miles an hour in traffic might be an hour. >> okay. i'm up to a five minute
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mile. i will try to make it to a four minute mile pace but, i doubt that i will. liz: don't trip. >> i think this is a first. i have never seen a interview carried on while somebody is jogging that fast. guaranteed this will be on comedy central. liz: tell mr. clawson, he is a great boom man with the mike. never seen a ceo do that well with a microphone. >> turned over control to him. liz: good stuff, jeff. >> tough getting old, isn't it? liz: good stuff. david: he can't utter another word. liz: go back to new zealand, jeff. david: a down day on wall street. what's in store for tomorrow? we have the number one thing to watch straight ahead. liz: as we said, free pizza hut pizza for life? yes, we'll tell you what you would need to have to do to get it. trust us, it's no easy task for 30 some years at many different park service units across the united states.
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the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter.
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david: time to go "off the desk". just when you thought the presidential debates couldn't get any meat city meat at thiser well they do. pizza hut give pizza for life if they prefer pepperoni or cheese at the debates. liz: they're hoping people will pull a howard stern and step up to the plate. david: beating estimates after the bell.


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