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American Morning
Minding Your Business: Wall Street to Close Year with Bang!
Aired December 31, 2003 - 07:49 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.
SOLEDAD O'BRIEN, CNN ANCHOR: The market looks to end the year with a bang. And, will the champagne business boom in the new year?
Andy Serwer is with us and "Minding Your Business" this morning.
Good morning.
ANDY SERWER, "FORTUNE" MAGAZINE: Good morning to you, Soledad.
They are partying like it's 1999 on Wall Street, getting back to the artist formally known as.
O'BRIEN: He's good, huh?
SERWER: And let's take a look at some of these numbers. We've been talking about this for the past couple days now as we're winding down towards the new year. But when you got a good thing, why not go with it? Almost done for the year, just one more trading day. That will be today. The Dow is up 25 percent. That matches basically its gain in 1999. So, we are back to those levels. Nasdaq is up about 50 percent. That would make it the third best year ever if we stay around that level. Of course, it was up over 80 percent in '99 and up over 50 percent in 1991.
And we want to also talk about some of the stocks -- the winners and losers...
O'BRIEN: It's my favorite segment of the morning.
SERWER: ... for this -- yes, for this year. Here we go. These are some of the best. Now, of course, these are preliminary numbers because it won't be done until the end of the day.
Avaya. Do you know why this stock went up so much? Wayne Brady, spokesperson.
O'BRIEN: I was going to say...
SERWER: You know...
O'BRIEN: Those commercials are great.
SERWER: They are great commercials, and I like Wayne Brady, a big fan.
Williams Companies and Dynegy, remember they got caught up in all of those energy scandals over the past. A lot of these stocks are bouncing back from real lows. PMC Sierra and Novell, two beaten up tech companies.
And we've got to do this, too -- the losers. Let's hope they're not in your portfolio. Let's hope you don't work there. Winn Dixie is a grocery store chain primarily in the south. It's been under a lot of pressure. Eastman-Kodak, you probably know about some of their troubles and some of these other guys. You know, there is AT&T, ma bell down there, still trying to make things right. Tough times for them.
O'BRIEN: Yes, no question.
All right, let's talk champagne.
SERWER: Yes, let's just talk...
O'BRIEN: What do you think, this year, good or bad for champagne?
SERWER: It's going to be a very, very good year for the bubbly biz, and, of course, that has a lot to do with the improving economy. Here in New York City, which is a place where we drink a lot of champagne...
BILL HEMMER, CNN ANCHOR: It's a matter of fact.
O'BRIEN: Yes, we do.
SERWER: ... this evening, they're reporting that sales are up about 15 percent this year, which is very nice. And, of course, you can spend a lot of money on champagne. We found a couple bottles here lying around the studio. Soledad O'Brien.
O'BRIEN: Kind of in my office.
SERWER: Kind of in your office, and...
O'BRIEN: I got them as presents.
SERWER: Yes, you did. All right, that's looking pretty good.
O'BRIEN: I'm going to drink some after the show.
SERWER: You know, you don't have to worry about Bill taking any, because I bet he's a Cold Duck fan. Of course, it's only champagne if it comes from the champagne region in France.
HEMMER: Yes.
O'BRIEN: Right.
SERWER: And Cold Duck (UNINTELLIGIBLE).
HEMMER: Hey, by the way, we did M&Ms yesterday. Remember, Andy brought us the story of black and white M&Ms.
SERWER: Yes, we did. (CROSSTALK)
HEMMER: The official hat.
SERWER: Wow!
(CROSSTALK)
O'BRIEN: The M&Ms (UNINTELLIGIBLE).
HEMMER: It's like the only hat.
SERWER: Yes, right.
HEMMER: They're doing a big thing around Dick Clark tonight actually in Times Square. You know about that.
SERWER: Yes.
HEMMER: The word is the colors are coming back, but they're going to be newer, they're going to be bigger and they're going to be bolder, which leads to speculation as to, you know, what kind of colors are they going to bring back?
SERWER: What is it going to be? Dayglo (ph).
HEMMER: I don't know.
SERWER: Dayglo (ph).
HEMMER: Fuchsia?
SERWER: Yes.
O'BRIEN: This portion of AMERICAN MORNING is brought to you by M&Ms.
SERWER: Yes, I don't know anything about M&Ms.
HEMMER: I like it.
SERWER: From Mars, the Mars Company.
HEMMER: Yes.
O'BRIEN: Keep your little hat.
HEMMER: Thanks.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.
Bang!>
Aired December 31, 2003 - 07:49 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
SOLEDAD O'BRIEN, CNN ANCHOR: The market looks to end the year with a bang. And, will the champagne business boom in the new year?
Andy Serwer is with us and "Minding Your Business" this morning.
Good morning.
ANDY SERWER, "FORTUNE" MAGAZINE: Good morning to you, Soledad.
They are partying like it's 1999 on Wall Street, getting back to the artist formally known as.
O'BRIEN: He's good, huh?
SERWER: And let's take a look at some of these numbers. We've been talking about this for the past couple days now as we're winding down towards the new year. But when you got a good thing, why not go with it? Almost done for the year, just one more trading day. That will be today. The Dow is up 25 percent. That matches basically its gain in 1999. So, we are back to those levels. Nasdaq is up about 50 percent. That would make it the third best year ever if we stay around that level. Of course, it was up over 80 percent in '99 and up over 50 percent in 1991.
And we want to also talk about some of the stocks -- the winners and losers...
O'BRIEN: It's my favorite segment of the morning.
SERWER: ... for this -- yes, for this year. Here we go. These are some of the best. Now, of course, these are preliminary numbers because it won't be done until the end of the day.
Avaya. Do you know why this stock went up so much? Wayne Brady, spokesperson.
O'BRIEN: I was going to say...
SERWER: You know...
O'BRIEN: Those commercials are great.
SERWER: They are great commercials, and I like Wayne Brady, a big fan.
Williams Companies and Dynegy, remember they got caught up in all of those energy scandals over the past. A lot of these stocks are bouncing back from real lows. PMC Sierra and Novell, two beaten up tech companies.
And we've got to do this, too -- the losers. Let's hope they're not in your portfolio. Let's hope you don't work there. Winn Dixie is a grocery store chain primarily in the south. It's been under a lot of pressure. Eastman-Kodak, you probably know about some of their troubles and some of these other guys. You know, there is AT&T, ma bell down there, still trying to make things right. Tough times for them.
O'BRIEN: Yes, no question.
All right, let's talk champagne.
SERWER: Yes, let's just talk...
O'BRIEN: What do you think, this year, good or bad for champagne?
SERWER: It's going to be a very, very good year for the bubbly biz, and, of course, that has a lot to do with the improving economy. Here in New York City, which is a place where we drink a lot of champagne...
BILL HEMMER, CNN ANCHOR: It's a matter of fact.
O'BRIEN: Yes, we do.
SERWER: ... this evening, they're reporting that sales are up about 15 percent this year, which is very nice. And, of course, you can spend a lot of money on champagne. We found a couple bottles here lying around the studio. Soledad O'Brien.
O'BRIEN: Kind of in my office.
SERWER: Kind of in your office, and...
O'BRIEN: I got them as presents.
SERWER: Yes, you did. All right, that's looking pretty good.
O'BRIEN: I'm going to drink some after the show.
SERWER: You know, you don't have to worry about Bill taking any, because I bet he's a Cold Duck fan. Of course, it's only champagne if it comes from the champagne region in France.
HEMMER: Yes.
O'BRIEN: Right.
SERWER: And Cold Duck (UNINTELLIGIBLE).
HEMMER: Hey, by the way, we did M&Ms yesterday. Remember, Andy brought us the story of black and white M&Ms.
SERWER: Yes, we did. (CROSSTALK)
HEMMER: The official hat.
SERWER: Wow!
(CROSSTALK)
O'BRIEN: The M&Ms (UNINTELLIGIBLE).
HEMMER: It's like the only hat.
SERWER: Yes, right.
HEMMER: They're doing a big thing around Dick Clark tonight actually in Times Square. You know about that.
SERWER: Yes.
HEMMER: The word is the colors are coming back, but they're going to be newer, they're going to be bigger and they're going to be bolder, which leads to speculation as to, you know, what kind of colors are they going to bring back?
SERWER: What is it going to be? Dayglo (ph).
HEMMER: I don't know.
SERWER: Dayglo (ph).
HEMMER: Fuchsia?
SERWER: Yes.
O'BRIEN: This portion of AMERICAN MORNING is brought to you by M&Ms.
SERWER: Yes, I don't know anything about M&Ms.
HEMMER: I like it.
SERWER: From Mars, the Mars Company.
HEMMER: Yes.
O'BRIEN: Keep your little hat.
HEMMER: Thanks.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.
Bang!>
