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tv   Power Lunch  CNBC  May 5, 2014 1:00pm-2:01pm EDT

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another big event next week. that of course is the skybridge alternatives conference, also known as s.a.l.t. it's a four-day event features some of the most powerful names in investing. anthony, real quick. >> we're very excited. this is valerie jarrett coming from the white house as well, and president frank underwood. >> that's all for us. again jeff gundlach in a matter of moments. "power lunch" starts right now. halftime is over. "power lunch" anded second half of the trading days start right now. >> scott, thank you very much. we'll check in with you in just a minute a lot of volatility. the dow down triple digits. a lot of stocks at all-time highs do you beware of them? when it comes to the economy,
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despite the mixed messages, despite those numbers that showed basically a flat economy in the first quarter of the year. amd, target and target's ceo steps down in the wage of a big data breach. who will take over? why does there seem to be a ceo vacuum in retail right now? we look at who could be the next generation of retail leaders? first, though, sue is in the house. >> i am, ty. glad to be here. investors on a pretty wild ride. the dow was down triple digits earlier in the session, but we have come back considerably, but right now we're down about 12.3 points, down 0.61, and transports are down 30 points on the trading session, just about a half a percent, and the ten-year note, the yield is 2.60%. why the reason for the comeback? it looks likes four is the new
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three when it comes to the u.s. economy. steve liesman has more on this bullish sentiment despite the mixed data. >> well, that friday jobs report continues to echo today is several economists upping their growth forecast. some now at our even well above the 4% level, but a key question remains -- is it bounce back or newer, higher level? >> here we surveyed nine economists, the average -- up 0.2 from their prior forecast, range being 3% at the low end to as high as 4.6%. that's ubc. here is the 4% club. many of them signing expectations for a bounce back. residential investment should be on the way up in the second quarter. barclays says our 3% consumption forecast for q2 should be easy to achieve. they're among those who see upside risk. monthly data shows a clear acceleration.
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these photograph coming before the snunt service reports this morning, beating expectations. ahead of the 54.4 expected by wall street. the best figure we've had since's. it's shown a clear strengthening trend since the winter. my suspicion at the level of the new orders are unsustainably high. over at rdq, they say the leading indicators points to further expansion in the coming points. jeffries weighing in, saying further evidence. and they'll seen regain -- so some of the higher gdp forecasts, a, except for 3% growth. that means they're still on board to a higher level.
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>> thank you, steve. appreciate it very much. let's go to dom chu for a market flair. >> how about which i pot lace, in the cinco de mayo celebration, the stock is moving higher after raymond james upgrades the stock based on valuation, you can see those shares currently up about 3%. it's been a tough, though, two months for which i pot lace. still, a nice pop in today ace trade, tyler, back over to you. as target shares are in the investor bull's-eye today, as you see there, down 1.99 at 60.03, ceo stepping down in the wake of the data breach last fall and winter. the company's cfo taking over, at least temporarily. courtney reagan with the fallout. you actually spoke with the cfo recently on "power lunch." i remember the interview. >> i did. i spoke with john mulligan, the target cfo, now interim ceo, before we knew of the data breach.
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while target had begin to show signs of weakening trends, mulligan is thought to be a decent temporary solution. here's mulligan's assessment of the consumer in october. >> it's been a tough year for consumers overall. they started with the payroll tax increase and they were already stressed, you know, as the economy has improved slowly over time, but it's been a choppy recovery for sure. we see fits and starts with consumers, particularly at the low end, so the payroll tax had an increase on that. our leaders in washington have done their best to create more uncertainty. >> target's ceo spoke to our becky quick back in january, suggesting changes at the retailers were to come. >> but as time goes on, we are going to get down to the bottom of this. we will not rest until we understand what happened. clearly we're accountable and we're response, but we're going to come out at the end of this a before company.
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>> well, his -- the timing has taken nearly analyst by surprise, if the data breach seems to be mostly bush i company's own ceasement. which leads -- sales and traffic trends there, and in the u.s. and more. i mean, really how bad is it? that's what we're worried about. stick around. we're going to bring if retail analyst stacy widlitz, to talk more broadly about why or if theres a real vacuum stacy, welcome. do you suspect that they will fill this job from within? or do you think they will go out of house if. >> i think they will go out of house, absolutely. you know, what's really interesting is you see the old guard of retail things have
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changed. and a lot of the old guard really has just not been dynamic enough to change. but for the most parts a lot of these companies need to -- with multidimensional experience. in merchandising, online, logistics, and put that whole experience together. >> who are the rising stars in retail right now? we know some of the familiar names like terry lundgren at macy's, like drexler at j. crew. who are the up-and-comers. >> there are some up-and-comers who may not already be in the c suite, but have made significant moves. one is angela aarons. she is now at apple, just recently moved into that role, kind of an interesting one there, brendan hoffman used to
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be formally, he's already said he's not going to re-sign a new contract. we don't know, however, his plans. mindy grossman, hsn, she's done a lot with the e-mobile xhert space so there are a number of rising stars out there. the question is, who is going to go? >> jeff gannett, we know he's terry's heir apparent, but one to watch certainly for the future of macy'sivities courtney, thank you very much. stacy, thank you as well. >> becky quick was with him start to finish. afternoon, becky. >> hey, sue, great to see you. a lot of the talk around this weekend had to do with buffett and the comments he's made that's ruffled some feather
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recently. he's admitted he's been on boards in the past where he went along with decisions that he didn't necessarily agree with. he's gotten flack from that. that's something he says that happens in every aspect of life. >> i've been involved in a couple situations, where a proposal and it's been shot down, and what happens in that case is that one person finally pipes up and it's a bit like says the emperor is wearing no clothes and then everybody will come on board, but the first person to speak is belching at the dinner table and then sometimes others start, and others move away from you. it depends on the situation, but some people have enough bravery to be followers in a situation like that, but not to initiate t
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you've seen that? other aspects of human behavior. buffett also points out, by the way, that you don't have to be somebody who is screaming all the time to be effective. you kell effective by picking your points and quietly doing things behind the scenes at times as well. we also caught up with bill gates, a director of the board, that's why he's here this weekend, too. we talked about some news that was made recently. just there was a -- that showed bill gates is no longer the largest shareholder in microsoft. >> i sold for over a decade the same numbers of shares every quarter. that plan lasts through the end of this year. you know, i'm going to retain a lot of microsoft stock, but the u.s. treasury has done well. many billions of dollars, and,
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you know, i'm -- i'm excited about the stuff i'm doing at microsoft right now. it's reexamining all its strategies, a lot of great work going on. >> are you excited about the new ceo? >> yes, a sacha is off to a gre start, and getting people to rethink how can microsoft move faster? and distinguishing ourselves with things like office 365. so who is the largest shareholders in mike roar soft right now? that would be steve balmer the company's former ceo. coming up in "street signs" wee talk more about what the great investors see in the market, but right now, i'll send it back to you. >> thanks, becky. big money names, the conference going on in new york city, it's a fund-raiser for pediatric oncology, and top investors offer new ideas, at it all day. scott is covering the action,
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and joins us with a very special guest. scotty, over to you. >> sue, thank you so much, we're here with jeffrey gundlach. literal le just walked off the stage. it's great to see you. welcome back. >> your big idea was to short single-family housing. >> if you just look at the statistics, wee kind of surprised by how people are cop settic about home builders, you kind of look at the data, and it's gotten soft. >> it's gotten ugly. >> in recent months really soft. one of the culprits for causing that would be the rate rise of last summer. last summer people were saying this isn't enough of a rate rise to matter. kind of hard to hold that point of view now. you look at mortgage applications, housing starts, you look at new home sales in particular. they're no better than they were at the so-called trough of the
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recession. it would seem that the stocks that are up an awful lot and discounting and returning to what people think are normalcy, i think people will be disappointed. i've chosen to short -- that's short xhb. >> that's right. i'm sure that some can go granular and get into a certain tier, i think if you were looking at lower end home builders, there would probably by some granularity, but i was trying to bring across a macro view. >> so if that's your outlook for housing, for a guy who looks at reit rates, and the ten-year since at 260, how low is it going? >> we talked last year, we talked about -- and topped out? the very low 3s.
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interestingly it was the last day of the year, was the peak, and it's been falling a bit since then. without having too much economic weakness or without too much difficulty in the world, we would probably see the ten year making it down to a type of zone. we got pretty close to that a couple times. we were at 257, 256 last week, so it's getting close. my viewpoint is to get through that level, you probably would need a psychological shift and some sort of macro event to make investors really want a flight to safety. the investment value down in the low 2s is pretty dubious. so you really need it to be an alternative away from other risky things. so maybe a really hard slowdown in china could cause a change in attitudes and deflationary fears. maybe hotter situation in ukraine could cause those types of fears. maybe just the gdp that came out at basically nothing in the first quarter. >> you don't think it was
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seasonal? >> of course. of course there was some seasonality to it, but it was weaker than people thought. it just seems to be another year of high expectations dashed somewhere around, you know, the end of the first quarter. here it happened again. i don't think that the 3% gdp forecast that was so prevalent in investor psychology at year end has a very good chance of coming through. the first quarter was nothing. >> we were leading into the segment, some people now see 4. >> i guess if you still with your 3-4 forecast, you better start predicting some 4s. if you got one, i don't think that changes much. a 4 after a zero averages 2. that's where we've been it seem like for years. the demographics in the united states are really important. it's just source radically
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demographics are shifting. one of the challenges we have is wlab force participation keeps dropping because of the retirement, but a big piece of it is retirements. that means people that are working have to produce just that much more to keep the same level of gdp. we're in a demographic period that's likely to lead to disappointment in terms of thinking about growth the way we used to in the '80s. >> if we get down to that level, where's the floor? i mean, in reality, what's a real number? if you start to see that, because at 2.5, people were getting concerned there was something else out there in the economy that we don't know or the situation is worse than people are expecting. >> let me put it this way. i think if there is investor demand for treasury -- i think it's a paradigm shift. i think there will be a massive treasury rally if that happens because of the huge short base that's been build. i've been talking about this all
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year. it's now becoming something you hear more about, because people are trying to explain why is it that treasuries are doing so well, but the thing is nobody owns them. the treasuries were all bought by the fed. bond funds, many of them shorted treasuries, etfs grew in size, and then you have all these yields away from the united states that are really low. treasury yields look relatively -- versus europe, versus japan, obviously, and versus credit. look at junk bonds. at the end of last year they yielded 4.4 to no losses on bb junk. long bond yielded 4. people would come on cnbc and say i hate -- i'm in lovy junk bonds. there's something contradictory about that point of view, so treasuries are underowned and there's a lot of short positions against it in unconstrained bonds and etfs if those shorts get pulled you could see a scramble to treasury rates. who knows, make we take out the
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unthinkable below 2012 when we talked about it was happened. ed at the time i thought there was a 90% chance that was the low in bond yields, and i still think it was, but now i think it's only a 70% chance. i think the chances have gone up that we go lower in yield because of massive underpositioning in the treasury market. >> i've got to go. thank you so much for joinings, but i would be remiss not talking about apple, as the stock sits at $600. >> we talked about apple, i thought it may make its way to 600 this year. i think the fairly radical steps this took support of stock, so maybe it goes higher. i wouldn't look for much or 600, though. >> jeffrey gundlach, thank you. ceo and cio of double line. don't forget larry robbins and then bill ackman later.
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guys? >> looking forward to it very much. bob nardelli, one of the most successful american executives of you are our time. general electric, home depot, chrysler among the companies. we have a lot on the agenda, including american companies leaving the u.s. to avoid paying taxes, solving gm's problems, and who should be leading america's retailers? bob nardelli is with es, he's in the house and will join us after a very quick break. lots to talk about. we're back in a moment on "power lunch." how do you know which ones to follow? the equity summary score consolidates the ratings of up to 10 independent research providers into a single score that's weighted based on how accurate they've been in the past. i'm howard spielberg of fidelity investments. the equity summary score is one more innovative reason serious investors are choosing fidelity. call or click to open your fidelity account today.
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saber corps said it was notified that the contract has been awarded to a competitor. in 2013, that contract contributed about 1% of total revenues at sabre. they're just off settle lows. back over to you. >> so it's bettered its position considerableably. thank you, dom. bob nardelli, former chairman and ceo at both chrysler and home depot. power systems and transportation. most recently senior adviser at the private equity firm, had you now leads his own company xlr8. >> there's an awful lot going on
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in your space. tell me how business is performing and would you you think things are heating up so much. >> there's a heightened activity out there, sue. we see these big megadeals, some being driven by the need i'll say, for revenue, some to change the tax base, some quite honestly credit is so roernl, so you see it in the big megadeals, and a lot in the big caps, where companies are trying to take some money off the table and are monetizing their businesses. >> in order to change the tax status. what do you think about that? i think that's what happened is
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they'd a growing -- coming out of the administration, so they can control what they can control by making toss acquisitions, they're getting a lower tax base. that's what they'll keep doing until they see some benefit. if we can save money, that's the way to do it. >> this megadeal that we did for 7.1, borrowing money versus repatriating money, i think you're going to continue to see that kind of activity until we see some incentive or reasonableness. caterpillar was just up on the hill testifying about their tax situation, so you think you'll continue that's to. en we see some.
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>> i'm not so sure congress has the appetite to take it up. when you were running home depot, it was kind of the ultimate retail stock, it touched so many parts of the economy. we've seen the ceo -- it seems as though there aren't many rising starts in retail these days. do you agree with that? if so, what do you make of that? >> well, it's interesting, i love my time at home depot. i think radio tail today, there was a couple comments made that it is changing. one of the things i think we were so successful with the home depot team, we were sensitive to megatrends we were market focused, but customer centric.
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the home became a sanctuary. we brought everything people enjoy indoors outdoors with outdoor furniture. so it is an all-consuming job. home depot only closes two days a year, compared to industrial businesses that kind of take a break on the weekends, that's the height of your activity, so you really are 24/7. it is a very demanding job. retail as they say, retail is detail. that's what we're facing today. >> the recall that is went on with the -- you always ran chrysler. tell me how you think gm is handling the situation. should they be doing more? should they be doing it differently? >> i think mary is done a very good job. she's out front. she's trying to from part of the
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culture that she was part of, and i think she's doing that. again, i don't know the individuals, but she seems to be shaping up the c suite, seems to be making crisp decisions, out front leading the initiative. so far, i would give her very high marks. >> just before we let you go, bob, taking market share from gm, they're vulnerable right now in the wake of this. what company do you think is best positioned in the auto sector to take market share? >> i think alan has done a great job, and i think we're going to miss him, but mark has trained under him for a while. i'm really pleased to see chrysler, you know, the men and women there work diligently and tireless through through our ordeal. >> you know mr. mullally very well, but i left you go, is he really going to retire?
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>> he may have one or two more acts left. >> anyplace -- >> not that i know of, but whoefr gets alan i know will be fortunate. >> come back soon. they're going to give me the hook in the control room. don't miss our upcoming cnbc documentary "failure to recall" investigating gm. premieres on may 18th, only here, ty, on cnbc. sue, thank you very much. mers, one of the most frightening viruses of our time. what are the doctors and cdc and pharmaceutical companies doing about it. how much should you be concerned? sfx: car unlock beep.
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vo: david's heart attack didn't come with a warning. today his doctor has him on a bayer aspirin regimen to help reduce the risk of another one. if you've had a heart attack be sure to talk to your doctor before you begin an aspirin regimen.
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welcome bulk. we're live on the on the floor of the cme. if you're looking at interest rates, they've been moving lower, but let's hit the highlights. going back a year. last chart, these weak. 13-month high. i know there's a lot of people who want to make ukraine a big financial issue, but exports of wheat is a big deal.
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>> thank you very much. an indiana man who has the first case of mers is expected, a hospital worker was discovered to have the vile illness on friday. meg, what do we need to know about this middle eastern respiratory system. >> as the cdc told us on friday, it's now in our heartland. this was the first u.s. patient with mers identified. he had been traveling overseas. >> mostly in saudi arabia. >> and that's where he had been traveling. he was a health ware working and in a health care setting there. actual doesn't seem to be contagious in the community setting, really in the hospital or in the home. >> what is the level of incident and level of fatality? >> that's important. right now the w.h.o. has confirmed about 262 cases of this, mostly overseas, of course, and 93 of those patients have died. it's a high fatality rate, but
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not a huge spread across the world. >> dr. schaffner, welcome back. let me get your quick thought on how western we ought to be about mers. it is as meg points out a dangerous illness if you get it. >> tyler, i think that's right, but we ought to be reassured. this patient was early diagnosed, put in isolation, the health care workers used their infection control precautions, and they were able to care for him right away. they contacted the cdc. their laboratory confirmed the infection, the system is working, and i think as meg says, this is not a virus that is spread readily at all in the community, so i think we saw it, and we've got it contained. >> let's move on to another topical question and that the el resurgence of polio in some countries. in truth, in some parts of
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africa, some strife-ridden war-torn countries, polio has come back. we had it down into the last corners, we were after it, then of course the last countries were the ones that had turbulence. they're also unvac nated and polio can then spread from the corners of the world to new countries once again. all of us should remember, vac nate all your children. >> all right. dr. schaffner, thank you. >> sue, over to you. >> thank you, guys.
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david faber scoring a big interview with larry robbins. he made a fortune betting on certain health care companies after the supreme court ruling on obamacare. more is culling up next on "power lunch." passenger: road trip buddy. let's put some music on. woman: welcome to learning spanish in the car. passenger: you've got to be kidding me. driver: this is good. woman: vamanos. driver & passenger: vamanos. woman: gracias. driver & passenger: gracias. passenger: trece horas en el carro sin parar y no traes musica. driver: mira entra y comprame unas papitas. vo: get up to 795 miles per tank in the tdi clean diesel. the volkswagen passat. recipient of the j.d. power appeal award, two years in a row.
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welcome back to "power lunch." more headlines, this time from -- saying he is long liberty global shares. la font loves this stock over the next five years, and believes another party, program a comcast, parent company of this network, could buy liberty global. it happen, he set. there you so ethe session highs up about 2.7%, sue. back over to you. >> dom, thank you very much. the sohn conference is going on. david faber joins us with one of the best performing hedge fund managers of 2013 and one of nigh
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favorite guys. >> that's right, one of your neighbors as well. larry robbins, of course is here, glenview capital management. had a great year last year, but nobody really cares about a great year last year. it's what have you done for me lately. >> that's what you're doing, but this year does appear to be the most difficult one. >> have you changed the way you approach things or are you in terms of what you're looking for to find alpha, not just returns, but beyond the market? >> our approach is basically the same. but there's a bifurcated market. part of the market was in a dripped-up phase, that interest rates were so low for so long, valuation didn't seem to matter. in high growth areas.
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there was also a new nifty 50 created. caused people to think about when interest rates would move. there was follow-on effects. the top of stocks we play in that approach continues to be there. unlike 2014, where things -- we think the story of 2014 and 2015 is we need stocks that lift up, from actions from management, from the board, engagement from shareholders which cause that stock price. in order to get an attractive return, it's incumbent to lift that stock up. >> that means, what, beyond just running their business? >> of course that's where it starts.
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>> those things don't matter first and foremost until we do our chores. >> so of course the first thing is so beyond that. >> that then generate or have excess cash, the icing on the cake, if you will, will be how do they use that excess resources to drive value even further? well, people are familiar with convertible bonds, a bond return that has a warrant attached to give you more excitement, we're looking for a fictional term called convertible equities, where there's a basic equity investment that's reasonable and attractive, but lots of optionality. >> so looking for businesses that could be a split or lot of cash on the balance sheet that's not being allocated the way you would like or not as efficiently as you would like? give me some examples itches both of truss.
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we are a significant -- hertz, but 70, 75% are the traditional car rental, and about a quarter of the business is in an equipment rental biggs, similar to you or i. shareholders earlier in the year were rumored to be -- to have activist presence in the name, pushing the agenda. it doesn't look like that was necessary. they did two good things proactively, announced the separation from the car rental and equipment rental business, and then importantly, rather than delevering, and taking cash and paying down debt at 2% after-tax rates, they decided to use their cash for share purchase or potential for future accrete i have been acquisition by maintaining as 2 1/2 to 3 1/2 ebitda leverage. by doing so, their future cash resources won't just by hoarded or wasted, but reinvested at high rates of return.
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that's. is not only splitting taken what already is a good business. there's only three large players, turning it into a great investment. >> though i was reporting that icahn may very well was in fact the potential activist. >> so as you know, one of things we do is time arbitrage. i'm a hedge fund manager, so i know -- but even though everybody thinks we have an orientation of about tloo el days, it turns out that the market can get infatuated with certain things over a short period of time and then forget about them. around the time of the annual meeting, will somebody run an activist slate, people were very, very intensely focused on that. a lot of investor -- according to who we love that time saudi arabia triage where we buy what we call the dead spot, and
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invent is announced it's inevitable that it occur, one just has to have a reasonable modicum of patience. we know 12 months will pass and that separation will begin. you're known as certainly one of the more active investors in health care. i would like you to weigh in on the success or not of the aca, not whether it's a successful law of what it meant, but the implementation of it, that got so much criticism, is actually going fairly well. >> remember, one of the two big policy goals was to extend insurance to those who were uninsured, in particular those who wanted the insurance. >> the cbo initially predicted that 6 million customers would get insurance through these exchanges, supply side became skeptical in the fourth quarter, of course, you know that the final tally was north of 8 million. at least half of those are believed to be people that did not have been insurance before, so it's not just people dumping
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from a commercial provider to an exchange, it's actually providing real insurance. the second thing is, according to a recent gallup poll, 17% of americans six months ago were uninsured. that number is all the way down to just over 13%, so real progress is being made in the overarching goal of providing health coverage to who is who didn't have it. that's germane to the for-profit hospital operators, as well as the whole health care industry. if people are using the system and simply don't have an can't to pay for it, that's an implicit tax on the whole system, so most for-profit providers will win in that environment. >> of course we'll be streaming, i believe on your presentation, when will begin at 2:00. i know obviously you feel strongly about the cause here at sohn. >> we're honored to be part of a team of hedge fund managers, that is not only doing it when you're on air, and thank you to cnbc for bringing prestige and
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press to the event, but this event has been going on for 19 years. our friend david levin likes to say character is what you do when nobody is watching. for nearly two decades when very few people were watching, a few hedge funders were getting together, so thanks to you and cnbc for bringing attention and awareness to this cause so obviously they can expand their resources and reach. >> thanks for joining us. >> my pleasure. coming up, the battle of the bill yor nair. warren buffett versus carl icahn. target's ceo says good-bye, and amazon faces off against google on same-day shipping. that's coming up in today's power rundown, next. over 1.2 billion eyeballs are on us during the two weeks at wimbledon. true tennis fans want to know what's happening, they don't want to just see what's happening, they want to know and understand why it's happening.
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says buffett was wrong to abstain over the vote. it transfers billions to company management over the next few years. i can't imagine, robert, that carl icahn would have abstained. >> no. >> he's not the abstaining type. >> no, he's not. he's got the fighting gene. look, it's easy for all of us to say it's -- and warren buffett says it doesn't work that way. however his abstention is more powerful than any abstention vote. coca-cola will change the plan, because warren buffett -- >> my opinion is -- he's saying i didn't support the plan, i support the management, therefore i abstain. >> i thought the comments he made that whiteboards are like country clubs resonates with a lot. >> exactly you don't want a board to be a bunch of cronies together, hey, talking some shot
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and doing business. maybe that's why activists are so important, says carl icahn, to the board. target's ceo stepping down, wall street wondering who is next in line, in the next generation of leaders within the retail space. >> got any ideas? >> i spoke to the ceo of a special apparel retailer. he basically said a lot ofs are shopkeeper at heart. you don't find a lot of those traditional [-and-mart article, who grew up with a storefront and grew it out. >> a mick drexler who cares about details. >> and maybe that's the reason we have changed this whole online business. it's hard to have that drain be filled. >> or do you want a technology guy? you could look at any struggling industry where technology has changed it, and say the new ceo would be a technology guy. who knew that the target ceo's biggest problem would be a
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cyber-atta cyber-attack? that's technology, not to mention logistics, and online sales. i would argue the number one person for any retail should be first and foremost a tech guy. >> amazon and google facing off now over same-day delivery as much as in los angeles. which company, folks, will come out on top? >> i don't know. i've got to say both are such iconic brands. can you imagine if you saw google couriers wearing vests in cars, that could be a powerful brand motivator. >> it's just scary to me when it goes from online to boots on the ground, which gets to be very expensive. what's going to be the workforce for this? you're talking about an army of new people delivering this stuff. >> jake novak, one of our executive producers says this is the holy grail for internet delivery, same day. the first mover will be huge.
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>> i'm perfectly fine with the next day. >> i am, too. >> i want it now. before i order it i said it. >> oh, google knows what you're thinking. the top movers on the nasdaq, when we return. peace of mind is important when you're running a successful business. so we provide it services you can rely on. with centurylink as your trusted it partner, you'll experience reliable uptime for the network and services you depend on. multi-layered security solutions keep your information safe, and secure. and responsive dedicated support meets your needs, and eases your mind. centurylink. your link to what's next. ♪ ♪fame, makes a man take things over♪ ♪fame, lets him loose, hard to swallow♪
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all right. let's go to the nasdaq. it's been kind of a flat day. seema mody is following those. >> quite the day for the nasdaq. we started lower. since then we've been gyrating between gains and losses, but there are some bright spots to take note of the take a look at biotech. all moving to the up side, and once again, old school tech getting a bid, bernstein upgrading oracle, apple also in focus, winning a nearly $120 million award from samsung in the month-long patent trial, now trading around 598, so getting close to breaking $600 a share. >> thanks so much, seema. let's see what's coming up on "street signs." >> happy monday, sue. good news and bad coming at us from home, from afar. we want to know which one will
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tip the scale for the markets, which we know are hovering around record highs. we also like to hear that gas prices may not go much higher, so we found an organization that's predicting exactly that. also, there may be more to the target ceo's removal than meets the eye. we're going to dig in. lots more coming up. make it a date. "street signs" is coming up shortly.
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after a very rough opening we were down about 130 points, the dow jones industrial average is now down only four points or so, s&p 500 is actually in the green by a third of a point, and the nasdaq composite is up about 2 1/2 points. three winners right now. keur keurig, the coffee makerer, and whi chipotle. >> bass puns -- >> after the bell we have aig, a number of key components, and that will set the table for foreman when we have disney and other big companies. >> interesting comments about a
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rising potential of a dramatically falling treasury rate. >> that's right. >> i would say that's fascinate. >> el he called the bottom on it the last time. nice to have you in the house. >> thank you. it won't last long. that will do it for this edition. >> "street signs" begins now, we'll see you tomorrow. \s. hello, everybody. happy monday, i'm mandy drury. >> and on the other side of the scale, the economy. yes, russia, ukraine is a big issue, but today we have another better than expected data point, this follows last week's strong jobs number. >> back atcha. >> the big question


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