tv Power Lunch CNBC July 18, 2013 1:00pm-2:01pm EDT
>> 21st century fox. buy. >> murph? >> dupont, it's going higher. >> tool works. buying that one with both hands. >> that does it for us on this record-setting day on the street. there's more at 5:00. have a great rest of the day. see you tomorrow. as usual, scott just nailed it right there. my goodness, welcome, everybody. the bulls are out in force on this very hot day in new york city. the dow, a record high today, now a little bit off it. the s&p, a record high and now a little bit off it. there are the industrials. there they are for the year, both up 18% year to date. now let's take a look at west texas crude now at a 16-month high. look at that one, $107.85,
another $1.37 higher today and there you see ice. ice, ice, baby. crude is up 6% since the first day of the summer. another big report from the financial sector, this time it's morgan stanley up 4.5%. better today, up big, and the financials are up 40% in a year! we've got it all covered for you on this hot day. sue is down at the new york stock exchange. >> good to see you, ty, and as you mentioned we hit all-time highs for the dow and the s&p. you see the big board basically today, it's running very strong. 81 points. the nasdaq, no slouch there, either. it's near 13-year highs, and more importantly to a lot of chartists, the russell 2000 is at all-time highs as well. that 10-year note, the yield right now is trading just below the 2.5% mark. we'll show that to you in just a few minutes. bob and warren join me now on
the floor right now, and warren, with respect to the financials, the nasdaq has quite a bit of support under it in today's trading session. >> absolutely, and you look for the financials to be part of that leadership carrying rallies. we've been on top of that the last couple months mere, ahere,w that they're joining the party, i think that gives everyone a sense that it could be good. >> i think that's very significant, it's happened quite often. it's very simple. mr. bernanke, number one, has tamed the bond market. that's the most important thing. and number two, while everybody complains about lackluster revenue growth, earnings are coming in as expected. 70% of the companies are beating earning's expectations. we're up nearly 40% in earnings growth. >> i agree, i don't like the revenues being flat. but we're going to beat 4, 5, maybe 6% earnings growth in the fifth quarter and that's what
people are expecting right now. >> thanks, guys. appreciate it very much. ty, send it back to you. >> day two of ben bernanke's testimony up on the hill, he was asked point blank whether he was going to start tapering off in september. steve joins us with the highlights. steve? >> tyler, you were there yesterday. ben bernanke in day two of his testimony on the hill was asked about comments made by treasury secretary jack liu at delivering alpha. lew told me in an interview if bernanke didn't end too big to fail, more should be done with tapering. >> if we end this year and we cannot say we have ended too big to fail, we're going to have to look at other options. >> now, senator elizabeth warren, the democrat from massachusetts who is big on these issues, calling for a
revival of glass stiegel, asked bernanke about those comments. >> the timing, maybe i would take another year from now, but i said to you in another hearing that there is a strategy, dodd/fradod dodd-frank lays out a strategy. but if those things do not make us comfortable about the status of these largest firms, yes, i do think additional steps would be appropriate. >> not out of the woods yet. now, on monetary policy, senator chuck schumer, democrat from new york, if he didn't exist we would have to invent him, because he went right after bernanke on the issue of will the fed taper in september? >> the june meeting was only a few weeks ago. there have been some data points since then, and as you say, they've been mixed. i think it's way too early to make any judgment. we'll be obviously reviewing the data, and what we're looking for is a pickup as the year
progresses. >> so that's it. if we get this pickup in july and august, i suppose we're on track for tapering. but right now it sounds like a little even, 50-50, i think right now, tyler. >> just so you know more about him, he interviewed lew in the morning. >> great show. >> great show, that's right. lots of dead, lots of '60s-'70s rocks. >> that's right. hi, mary. >> let's keep it going. >> all you need positive is mary right here. morgan stanley currently trading up at 27.77. stock up more than 35% in the last three months and mary thompson keeping the positive momentum going. >> a 15-week high. a share buyback was announced, its first since 1978. this quarter is a new era for
morgan stanley. ceo joe gorman says the company is on more stable ground. >> we've been on a long journey to achieve sustainment with businesses in the markets. that business model is solidly in place. >> earnings excludeing items of 49 cents a share, better than expected revenue of $8 billion. year after year performance in fixed commodities and currencies driving the results. on proposed rules for leverages in big banks, the firm's current ratio is 4.2%. the company's return on equity a major probability declining to 5.4%. citing one-time reasons for the
decline, it's still below that of its nearest rival goldman sachs. i'm not sure you can call them peer to peer rivals because morgan stanley has that big thing going. >> sue, down to you. >> thanks, guys. there are three major tech companies on the move after reporting their earnings after the bell last night. ibm moving higher after raising its outlook and reporting better than ever second quarter earnings. the company did miss on revenues but it's up 2% on the day. ebay slumping after warning that results would be at the end of its forecasted range. slower growth with its paypal unit. intel also lower as the chip maker cut its revenue forecast as well as its capital spending plans. this is to adjust to weakness in the pc market. it's down to almost 4%. phillip morris international second quarter profits up in smoke falling 8% as it shipped fewer cigarettes. the company also lowering its full year guidance.
the stock right now is still in the green just fractionally at 89.75. a tobacco analyst with wells fargo securities. bonnie, welcome. nice to have you here. i was very surprised that they saw volume declines in all their major regions. what does that tell you about the future for them in terms of growing this business? >> you know, we knew this quarter was going to be tough. there have been a few disruptive excise tax increases that took place, so this was mainly expected, the volume shortfall. keep in mind the story here is net price realization. that was stronger in the quarter. another reason the company reported weak results is negative affects. they had a currency headwind and that's why their guidance was brought down, primarily and only due to the currency headwinds. so when you look long-term, we're still anticipating the company will generate 10 to 12%
eps growth, and going back to net price realization, that's going to be more than enough to offset some of the sluggish volume we've seen near term. >> they saw volume dedeclines, you mentioned, in development markets but they have made a big effort to go into still developing and emerging markets. how successful havey been at that? >> very successful. we performed this big analysis on their business in asia. we looked out over the next decade. and we think their profits in asia can more than double, and a lot of that is driven by key markets such as indonesia, phillipines, japan is still a strong market, and this is, again, over the long term. so not only do we see continued volume and share gains, but importantly, price realization. it's more affordable. a pack of smokes is more affordable than a big mac, almost three times more affordable in the emerging key markets. this is another analysis we performed. we think this is strong and
healthy. >> that's a very interesting statistic. bonnie, thank you very much. appreciate it. ty, back to you. sto >> a company delayed on bell's plan to take the company public. bell says they significantly undervalued the company and he criticized the board yesterday at the cbc's conference. >> i've never seen anything as bad as this. i've never seen anything where they actually go out and scare their own shareholders. one guy wrote a headline that was perfect where he said they scared the dell out of shareholde shareholders. >> scared the dell out of shareholders. there is just not enough support for michael dell's plan. dennis burman has been following this story. is this all about getting dell to sweeten its offer? >> of course, it's about getting dell to sweeten, tyler. the fact the stock is up means
they're expecting a sweetened bid to come through. the reason it has not collapsed also means they think the deal is not dead. we're in a one-week period here, are the people behind the dell buyoutgoing to off buyout going to offer more or do they say, we're out of here? >> in the end, does the dell deal get done here? >> there are so many variables, but my gut says yes. there is so much at stake here for dell, the man, to get forth his idea of how this company will be evolving. i would say he's got to sweeten and that could come through in a number of ways. he could give the shareholders a little bit of the public company and keep that trading publicly while taking the rest of it private. >> if dell wins, does icahn lose? >> i would say yes, but icahn at this point is winning. i would have thought a couple weeks ago the shareholders would have approved it just given the numbers involved. but icahn right now is winning,
and this is the real tension behind the deal, and that is, is the board going to be shaken up. this gives michael dell more a reason to get a deal done, because shareholders are so upset they might kick him and others off the board. >> very quickly, are icahn's criticisms of the board justified? we understand there is negotiation going on here, there's posturing going on here, but are his criticisms justified? >> i think people have to be careful about a swift storm, tyler, but i think he has very valid complaints, especially given when a serious owner and manager says, i've screwed up so much, i need to buy the company from the shareholders. why should the shareholders get the benefit of his managing plan? >> nice seeing you. sue, back to you. >> investor john paulsen made some big waves talking about how
bullish he is on housing. up next we asked where is your money best spent right now, on stocks or on real estate? plus the westchester story of a mom running a massive marijuana ring. we will have that only on "power lunch" today. we head out to california where the weather is not cooperating because firefighters are still battling those towering flames. more "power lunch" in two minutes' time. ng ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade.
cdc still has men and women talking all over the country, and here's what john paulsen said on housing that created so much buzz. >> i still feel buying a home is the best investment any individual can make. affo affordability is still at an all-time high. so if anyone bought a home last year, let's say $100 you put down $20, today that home is worth in 2012 a 60% return. >> nice work if you can get it. paulsen made a billion dollars betting against housing, and obviously from that statement he is bullish. is housing the best investment? i was very surprised at his analysis, how he worked through it, and i think he has some very valid points for those, perhaps, who are a little bit nervous about equities, that housing really can be longer term a great investment. diana? >> i wasn't surprised at all, and neither were the folks at
realtytrac. they gave us a sneak peek at this report they'll be putting out tomorrow. it shows that flipping houses, remember that in the old days, buying and selling houses within six months, flipping was up 19% in the first half of this year, and the gross profit on a flip, up 245% from a year ago. that's right, 245. so apparently the flippers are back in the game, they're going market to market. they're not in the hot markets, remember. that's where the big hedge funds and the big institutional investors went, but these individual house flippers are making a ton on flipping these houses because prices are up so much, sue. >> what about the longer term picture, though? mr. paulson was specifically talking about buying a home and living in the home, not the flipping aspect of it. do you agree with his bullish analysis on that longer term? >> i do. look, you're not going to see home price appreciation up in the 12% range as it is right now. that's not going to continue and it will probably temper through
the rest of this year, especially as mortgage rates go up. but historically speaking, housing has always been a good investment, it has always shown a solid, steady rise in appreciation when we're not in a housing crash, of course. if you are looking to stay in the home long term for at least 7 to 10 years, and with rates as historically low, let's not forget they are historically low even though they're up a bit, it's still going to get you profit in the end if you are a long-term resident and holder of that home. >> diana, thanks again, as always. our yahoo question of the day concerns john paulson being bullish on housing, so where do you stand? are you bullish on housing? go to finance.yahoo.com and we'll have the results a little later. first check out utility stocks. they are on a roll again today. look at those moves from public
service, con ed, duke and the like. a woman is cashing in on pot. the woman known as the marijuana mom. >> the new york tabloids call her the marijuana mom. she is accused of running a multi-million-dollar pot ring out of her wealthy home in the new york city suburbs. >> you're accused of a massive pot grow operation. is any of that true? >> see how the feds tracked her down and hear what the neighbors are saying, next. only on "power lunch." but most of them don't have the financial skills to handle it. pwc is doing something about that. i'm bob moritz, u.s. chairman of pwc. pwc's earn your future is a 5-year, $160 million commitment of funding, volunteer hours and curricula to help prepare students for the financial realities that await them. pwc's earn your future: empowering students and future leaders through financial responsibility. hooking up the country whelping business run ♪ empowering students and future leaders
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an update now on that california wildfire. it is still raging today and reports say it now covers 12.5 miles. this is all happening right near palm springs east of los angeles. 6,000 people have been forced from their homes and 4,000 homes are considered under threat. we got this video from a friend of one of our producers. this is a separate fire. this one is in the city of los angeles in an area called frogtown which is right near the river. fire season clearly upon us in california. and some of that has to do with the forecast. all this heat is not letting up. the weather channel's paul goodloe is with us now live with an update. paul, over to you. >> thanks, sue. again, it is hot across the
southwest, hot across the midwest, and we've been baking here across the northeast. look at our current temperatures. plenty of mid, even upper 90s across the region, but it was not just the temperatures. it was just the temperatures a couple days ago, now you factor in the humidity, so it feels like to your skin when you add in the humidity, we're talking over 100 in new york city, 104 in philadelphia. it feels like 103 when you head outdoors in our nation's capitol. the big question is, how long will this heat stick around? right now we've been pretty lucky in terms of not a whole lot of hot weather across the northeast. that's changing now. we're still going to have a hot day today, a hot day tomorrow, but eventually as we head toward the weekend, we'll have the transition. by summer a bigger mass of cooler air pushes eastward and pushes through the big cities in the northeast, and that means our temperatures will cool down. but not tomorrow. plenty of mid to upper 90s feeling warmer than that. saturday, transition day still hot, but the evening could be storms and much cooler. sunday, ah, there's the relief. boston back to 78, new york to
86. but still, the concern now is we still have a heat advisory across the northeast in the yellow and some of the peach colors, those are excessive heat warnings. hartford, connecticut, even in providence, rhode island. tyler? >> thank you very much. we turn to a hot story in the new york area. the new york tabloids have dubbed her the marijuana mom. cnbc has been tracking her every move since her arrest. she has the story you'll only see today on "power lunch." >> reporter: you're accused of a massive pot grow operation. is any of that true? she walked into the courthouse totally alone. amanda sanderlin's life completely busted open. a suburban mom and budding confebudding equestrian. could she really be the alleged head of a drug enterprise?
her covert operation, like a scene out of the hit show "we," a show about a mom who runs a marijuana ring. corey wingrad. >> this is not life i mitating art. this is real life. >> reporter: a mom living in one of the wealthiest communities, cruising around town in her big suv, even board ing a horse at this bronxville farm. but prosecutors say she kept all of this on the down low. a warehouse in queens loaded with pot worth 3 million on the streets. according to court documents, the address linked to a business she called fantastic enterprises. >> she kept a low profile, so you could tell there was something not right. >> reporter: the secret under wraps until prosecutors say a cooperating witness fingered
sanderlin, even telling them he saw andigiving other growing seedlings to others. details in court documents. day after day they spotted sanderlin leaving her house in scarsdale and driving to the warehouse she leased in the heart of queens. neighbors there say she would pull up and rushed to get in. >> she had a button on her truck, so she opened it before she got to the door. as soon as she got in, it would close behind her. >> reporter: and inside, worlds away from subur birbia. she had growing lights and ventilation systems. >> i saw when they installed those ventilation systems that were on the roof. >> reporter: this mom lives across the street from the warehouse. she said she saw sanderlin come and go but had no idea what was going on behind the gate until
now. >> she was like the perfect mother. she used to take her daughter horseback riding. yeah, she was the perfect mother. okay. >> reporter: and the cost of it raised eyebrows. almost 99 million, paid cash. the building next door not even came close. >> i wish i could pay $9,000. >> reporter: the dae moved in to take down the enterprise. according to court documents, sanderlin was behind the wheel of her suv. >> all you heard was squealing tires. they came from this way, they came from that way, guns were drawn. >> it was like a "law and order" episode over here. >> reporter: even agents left stunned, finding about 3,000 pot plants inside. >> i've never seen anything like this and i had front row seats for the whole thing. >> reporter: and in scarsdale, the upscale community hit hard. >> it hit the gossip circles
right away. >> reporter: agents seizing stacks of cash from the house, including books on money laundering and growing marijuana. and that's not all. they found sanderlin's nanny with thousands of dollars rolled up in bundles allegedly trying to sneak the cash to sanderlin's boyfriend. according to court documents, he told her to go in the house and, quote, get as much cash as she could from the closet. what were you planning to do with the money? was there a big plan? the so-called cash mom out on bail. oddly enough, still willing to risk a half million dollars to set her free. the group including a stylist and colorist from this posh hair salon, and this mta engineer who clearly didn't want to see us. and while her attorneys worked a negotiating deal with prosecutors, we found her living in this new york city public
housing complex. would you like to talk to us when this is all over? we would love to hear your side of the story. >> possibly. >> reporter: that would be great. we hope to bring you that interview with sanderl nirks. in the meantime she's gone from a 5,000-square-foot home to a tiny apartment in new york city. it could get a lot worse. she is facing 10 years behind bars and a $10 million fine. of course, we'll keep watching this one and be sure to bring you the very latest. back to you. >> thank you very much. andrea day reporting there. 18 states have legalized medical marijuana and storefronts are popping up in many places across the country. one enterprising grassroots company have now figured out a way, they think, to capitalize on this best of your knowledbur. mr. beerman, welcome. glad to have you with us.
>> thanks for having me. >> how big a business can this be? this is a niche. there can't be that many dispenseryes in the country, and your clientele would be a subset of that. >> i guess you're going to have to look at it state-by-state. yeah, there truly is a cap as of right now on what potentially -- the total numbers potential right now. i think we're all looking towards legalization at some point in the future, but you have some free market states, more free market states like colorado where there is almost 700 marijuana businesses for a population of a little over 5 million people. and you have states like massachusetts. they're going to issue 35 marijuana business licenses in a state that has over 6.5 million people. there is definitely a limited amount of these licenses and opportunities out there, but we are helping those people that are seeking to get into the business. >> the dumb but obvious question is what nmakes you an expert? >> i guess the dumb but obvious
answer would be we've just done this. we got into this business in 2008 by just happenstance. our parent company, a branding design construction company, we were hired by dispenseryes to do the work you just mentioned. we got into it and excited about it. we got involved on the operational side on the retail and growth side, and in 2010 we fielded a ton of phone calls by people who want to get into the industry but have no background in it. >> a consulting services investigating a recent murder in california, and one of the things you advertise is security. how secure are these locations? how vulnerable are they? i don't know anything about the circumstances of this case, but are they prone to be victims of crime? >> you know, i think it's like anything else. you're dealing with high cash based on the banking laws and
our current situation there. these are high cash or potentially high cash businesses and storefronts, so absolutely they're a potential target. but like any other target rk, i they're set up appropriately, that's a deterrent. banks get robbed more than pot shops do. tyler, take a look at shares of angie's list. stocks are on the move. after hitting an historic high this morning, the stock turned lower following a negative-seeking blog post. the author of the blog sees the stock as an attractive short. you can see shares down about 2% on the day. sue, over to you. >> thank you very much, sema. gold prices are up today. hi, sharon. >> the range for gold is very narrow today. they're triading slightly highe
here, around $12.44 an ounce. we saw that run toward the 13 level yesterday. we got real close to that mark but didn't seem to be able to get through, and there is no attempt at that number today. a lot of traders are saying they are looking at that at the key psychological level, but here any producers say any rally is a time to sell. back to you. >> thank you very much, sharon. the market hitting new highs but we've lost a lot of steam. bob joins me on the floor. we're up a triple amount of points. >> the market has been retained by ben bernanke, practically a love fest. the other major factor is earnings are predictably coming in a little better than people anticipated. about 70% of companies are beating the numbers, and one of the reasons the dow is doing so well is because of the two earnings reports we had today from ibm which raised their numbers, united health care had
excellent numbers, and that's about 50 points in the dow. financials the other reason. morgan stanley six in a row. six big financials all to the upside and no selling to these financials. they have outperformed in the second quarter and they're continuing to outperform into the third quarter. >> i'm watching that 10-year yield, bob. bertha coombs is tracking the big moves. hi, bertha. >> we are getting some downside traction here with both intel and ebay offering disappointing guidance. they're accounting for about an 8-point impact to the downside. nevertheless, we have some big numbers coming from tech companies. raising the outlook for 2013 above estimates. xilinx and sandisk posting better than expected. altera going along for the ride. back to you guys. >> for that bond market, i mentioned that 10-year yield.
everybody here is watching, rick, and i saw it creep back above the 2.5% mark. what do you make of it? >> there are definitely a lot of big players really trying to muscle these yields down the last couple of weeks, so it's fascinating. look at that two-day chart. a couple key points. look where we've held the last couple days, in the mid- .240s, and then look at the fact we've crept up. some of the selling is due to a three-year fix. a little hedgy but moving up the chart nonetheless. the first big high was a 2.61 and then we flattened. right now 2.46, 2.51. the 10-year index is creeping back up a bit. tyler, it's all yours. a unique new weight loss program where you'll get paid
with the precious metal to lose pounds. i am charging 1200 an ounce for every ounce i lose. plus, the powerhouse. we travel to the top five real estate markets in america. today the supposedly repressionless roo repressionless suburbs in washington, d.c. at a dry cleaner, we replaced people with a machine. what?
in the headlines, investigators recommending that they disable a honeywell transmi transmitter on all 787 boeings after it overheated. not a pretty picture today at sherwin-williams. the paint company reporting a revenue miss in its current quarter. no protests in greece today. that's a rarity lately. police kept the streets clean as germany's finance minister
rolled in to speak. >> i would like to ask all of you not to continue in this time the discussion on a new haircut. it is not in your interest. we have agreed on the program for greece, and it was difficult to get it, i tell you. >> that speech took place at a germany greek chamber of commerce meeting, and mr. schaumberg's remarks caused a ripple this morning. ty? >> let's go to the power rundown and go through this quickly with sue and bob pezani. banks, brokerages taking part in quantum dunn, a marked hack attack. how vulnerable is wall street to a cyberattack in real life? >> i think it's a real issue. we have seen attacks on exchanges already. nasdaq had one on their website just the other day. i think this is very
interesting. participants will receive blasts of confusing information today. that's amazing, sue. we can send them the mlc minutes. >> that's really true, but i think in this age of hacking, we've seen so many large financial institutions have to deal with that. you mentioned the nasdaq issue as well. i think the more they prepare for this and the more they drill on this, i think the better off they are, and the more it will infuse investors with confidence about the marketplace. i think it's a good idea. >> ncaa ending pending litigation over licensing in a trademark fight with college ball players. how big a blow is this to ea's bottom line? sue, do you have a perspective here? >> i understand the athletes' per spespectiv perspective, certainly, because they don't profit as much from the use of their image. for ea, i do think it's a loss, they're just trying to avoid a big court battle, i think. >> here's a broader question. how do you compensate someone for the use of their image whether it's an individual or a
sports team? they're not going to be able to put out generic sports teams or generic sports jerseys. people want to identify with a team. >> have to get to a point where these players get some value out of their own brand. the colleges are making tons of money off of their image and certainly ea was doing the same. losing weight never easy, but perhaps this unique slim-down initiative in dubai is going to do the trick. officials there offering a full gram of gold to any resident for any pound they lose. how do you feel about this one? get paid to take it off. bob? >> i might take the other side of the tree. i might turn in my gold and get fat. is fat fungible, tyler? gold is over $80. maybe i should get fat for gold.
>> 50% of the population in dubai is now considered overweight or obese, and that's a huge, huge change. >> why do they have such a weight problem in dubai, of all places? thanks, bob, sue. i appreciate it. arlington, virginia, the power house. we'll find out how much your money buys for you there, when we come back. ♪ our business needs more cases. [ male announcer ] where do you want to take your business? i need help selling art. [ male announcer ] from broadband to web hosting to mobile apps, small business solutions from at&t have the security you need to get you there. call us. we can show you how at&t solutions can help you do what you do... even better. ♪
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thank you. at the cnbc's delivering alpha conference, john paulson said he's bullish on housing. where do you stand? he's right, invest in real estate, invest in stocks before real estate, or i think real estate's on shaky ground. only 45% think real estate is on shaky ground. yikes. >> we head to the nation's capitol. what your money buys you in north arlington, a very close-in suburb to washington, d.c. i grew up there. joseph zork is a 30-year veteran with the office of coldwell banker. mr. zork, welcome. let's go through the stats about north arlington right now. homes under $800,000. there are 23 active listings. the average price a little under 700,000, the average number
under contract, 16, and sold 308. 200 have been sold every year. how would describe the market there? >> i would say it's sizzling. thank you for having me. the market is very intense, and you need to be on the top of your game to get a good property in this area. >> arlington has really had a renaissance as people have sought those in-close locations. lots of condos. it's got a lot of hip places, right, mr. zork? >> absolutely. they're on the metro line in north arlington. you have a couple hundred thousand people chasing after several listings. so we're seeing an inventory of only two to three to four weeks. things usually go on the market and they're under contract in a couple days. >> that's amazing. let's go to our first listing, two-bedroom, two-bath condo,
1600 oak street. 1390 square feet and 1500 in taxes. where is it and what makes it special? >> it's the first metro stop out of d.c. right over key bridge. it makes it special because a lot of people are after this type of product. this is in excellent condition. it actually has views of the water and the monument. so it's special. it's a corner unit. and we already have several contracts registered for this one. on the market again just a couple days. >> beautiful views looking over the potomac and down -- i guess maybe that's wilson boulevard. i'm not sure. maybe that's arlington boulevard. moving on to the second listing. the same price point, about 699,999. completely different property. 2916 2nd street, taxes of almost
7,000. 3 bedrooms and 1.5 baths. >> it's an excellent starter property, as you can see in this area a starter property is under 800, so it's very competitive. but an excellent property and not many, only a few on the market right now. >> looks nice and clean. moving quickly now, power house of the week. brand new house, 1610 19th road. 1.2 million, five bedrooms, four baths, 3,252 square feet. where is this and what makes it special? >> this is near falls church metro, still in north arlington. has all the bells and whistles you would expect from the developer. tall ceilings, new appliances, this house is awesome and it's ready to move in. an excellent purchase so close in to d.c. >> i'll be calling you later
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the widow of victor cerasini, the pilot who was killed when it smashed into the tower at the world trade center, she is lobbying for congress to have double doors in the cockpit. she said it's critical for airline safety. she joins us now. she just finished a meeting on capitol hill. miss cerasini, it's nice to have you with us. welcome. >> yes, thanks for having me. >> you just got out of a meeting with the senator of new jersey and he is supporting you in your efforts. but have you talked to the airlines yet about why some of them are against this particular proposal? >> i've asked to have a meeting quite a few times with the ceo of united airlines, jeffrey snizak, and he has not wanted to have a meeting with me.
but it is offered that i can meet with their safety person, and i will be setting up a meeting with him very shortly. >> what, as far as you know, is their opposition to the double locking doors, to the secondary safety system? >> i don't know of any opposition. it's common sense. it's what we need to do. in 2001, when they mandated a .45 cockpit door, they needed it. operation has showed us the door is not complete. so putting in the secondary barrier through the studies which have been shown, two different studies, the cato institute did one and the rtca, both of the studies show the secondary barriers are the most cost-effective and the best method in order to protect the cockpit from a breach. >> do you know whether or not the foreign air carriers are going to keep the double locking doors? because there is no requirement
for u.s. airlines to keep the double locking doors, but as i understand it, a number of the foreign carriers are going to keep them. >> yerks they wis, they will ke. ll doesn't even have to worry about keeping the double barriers. the whole area is set up for the pilots and the crew. they have their meal, they have their rest facilities up there. they don't even have to come out. they have the perfect case scenario. the issue for us is we don't have the perfect case scenario and we need to make sure we do. we need to have hr 1775 be a mandate to make sure all of the airlines in america have a secondary barrier. studies have shown that the cockpit can be breached and we need to make sure that america is safe. >> how many congressmen, very quickly, or senators do you have supporting you in your efforts right now, and how many do you hope to get on board? >> it's great. the numbers keep on growing. we're working on 30 cosponsors
right now. and the important thing is not about having the sponsors to sign up right now, it's about getting the information out. it's about making sure we get this out of the committee and we just bring hr 1775 to a vote. and then we protect americans, and it's that simple. >> ellen sarasini, thank you very much for joining us today. appreciate it. >> thank you. earlier today the markets rallied to new all-time highs. we'll have some of the biggest winners in today's trading session when we come back on "power lunch" with the dow up 72 points. she's still the one for you -
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welcome to power lunch. market soft shares currently at session lows ahead of its earnings report tonight. this quart er annuals expect a 70% jump in revenue. market stock shares have been getting a yield of better than 30% year to date. sue? >> let's take a look at the market. the dow jones industrial average off its best levels of the day but still a solid gain of just about 80 points on the trading session. the nasdaq and the s&p 500 also
in the green. some of the biggest winners include boeing in the s&p 500, and in the nasdaq it's checkpoint software. we'll see where it ends at the end of the trading session today. >> we'll see a record as we have so many times this spring and summer. that's it for "power lunch." >> "street signs" begins now. the stock run rolls right on. as earnings rise and the fed head stays calm and carries on, that is what you get, a lot of green on the screen and a big street sign for you today. we've got boatloads of stock picked by the stars in the conference. the real reason why anybody would want to own dell, more on apple's tv plans, and what's happening in housing that may be starting to get people a little bit nervous. >> hello, again, everybody, because we are back with record
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