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American Morning
Minding Your Business: Stocks Slump Into New Year
Aired December 27, 2002 - 07:45 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
SANJAY GUPTA, CNN ACHOR: Let's get our first look at the news that will be moving the markets today. Andy Serwer is off, probably shopping, trying to rally the markets all by himself.
Susan Lisovicz is with us, "Minding Our Business" at the New York Stock Exchange, and she has a quick check on the futures this morning.
Susan -- good morning.
SUSAN LISOVICZ, CNN FINANCIAL NEWS: And I'm afraid that the markets don't have much of a pulse. They certainly seemed to be on the lower side. The futures are pointing that way, and that's really been a trend we've seen all week. Monday, Tuesday, Christmas Eve, as well as Thursday, the markets were down.
We actually had a pretty good rally going yesterday. We had a triple-digit gain on the Dow at one point, only to dissipate. And as you see, the blue chips losing nearly 16 points, the Nasdaq down about 5 points.
The only news that we know, the economic report comes out about 30 minutes after the opening bell, and that is new home starts. That has been a strong part of the economy, although we are expecting a dip in the number, but still, a very robust figure at that. Right now, the futures look weak.
GUPTA: All right, Susan, well, that's not very good news. Hey, what's going on with Hooters?
LISOVICZ: Well, that's a loaded question, Dr. I've never been there, but I hear a lot goes on there. Hooters is trying to extend its brand, an inimitable brand it is. The restaurant chain probably better known for its waitresses and their scantily-clad outfits is buying an airline, at least the parent company is buying an airline, Pace Airlines, which is based in North Carolina. Terms not disclosed.
The owner of the company, Bob Brooks, has been trying to buy an airline, and it was -- his offer was rejected by the bankrupt Vanguard Airlines in September. This deal, however, is going to go through. It will be called Hooters Airline, and the question most asked is whether the flight attendants will be wearing white tank tops and skimpy, little orange shorts, and the answer to that is not clear just yet.
GUPTA: All right, I'm not sure if that's going to be enough to get another airline up off the ground either. Thank you very much, Susan.
LISOVICZ: Sure.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.
Aired December 27, 2002 - 07:45 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
SANJAY GUPTA, CNN ACHOR: Let's get our first look at the news that will be moving the markets today. Andy Serwer is off, probably shopping, trying to rally the markets all by himself.
Susan Lisovicz is with us, "Minding Our Business" at the New York Stock Exchange, and she has a quick check on the futures this morning.
Susan -- good morning.
SUSAN LISOVICZ, CNN FINANCIAL NEWS: And I'm afraid that the markets don't have much of a pulse. They certainly seemed to be on the lower side. The futures are pointing that way, and that's really been a trend we've seen all week. Monday, Tuesday, Christmas Eve, as well as Thursday, the markets were down.
We actually had a pretty good rally going yesterday. We had a triple-digit gain on the Dow at one point, only to dissipate. And as you see, the blue chips losing nearly 16 points, the Nasdaq down about 5 points.
The only news that we know, the economic report comes out about 30 minutes after the opening bell, and that is new home starts. That has been a strong part of the economy, although we are expecting a dip in the number, but still, a very robust figure at that. Right now, the futures look weak.
GUPTA: All right, Susan, well, that's not very good news. Hey, what's going on with Hooters?
LISOVICZ: Well, that's a loaded question, Dr. I've never been there, but I hear a lot goes on there. Hooters is trying to extend its brand, an inimitable brand it is. The restaurant chain probably better known for its waitresses and their scantily-clad outfits is buying an airline, at least the parent company is buying an airline, Pace Airlines, which is based in North Carolina. Terms not disclosed.
The owner of the company, Bob Brooks, has been trying to buy an airline, and it was -- his offer was rejected by the bankrupt Vanguard Airlines in September. This deal, however, is going to go through. It will be called Hooters Airline, and the question most asked is whether the flight attendants will be wearing white tank tops and skimpy, little orange shorts, and the answer to that is not clear just yet.
GUPTA: All right, I'm not sure if that's going to be enough to get another airline up off the ground either. Thank you very much, Susan.
LISOVICZ: Sure.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.
