federal reserve. nicole petallides, and -- >> we need you to stay healthy. let's look at major markets, dow jones industrials down again, 6 did a row below 15,000. fourteen thousand nine sixty-three, a loss of 40 points. the nasdaq managing to squeeze out fractionally, the isn't the 500 lower. and retailers, american eagle outfitters, j.c. penney and down arrows, homebuilders after a good existing home sales, as you noted with an non federal some should today and later in the week jackson hole, some economic news as well that we will be touching on. connell: all right, nicole. latest developments here, football on your phone. this is a good story. google wants to be part of it. much has been made about this directv at making the rounds starring the manning brothers looking ridiculous. if you think they look like geeks' how about these guys? larry page to be the owner of your monday ticket. the contract is up with directv and the nfl after the 2014 season so that leaves the door open. google could come in and scoop it up. google broadcasting nfl games. the executive editor at forbes talks about that. they have the money. think this might happen? >> there is a good chance it could happen. shows how great it is to be in the nfl because i think if google were to snatch the rights away from direct tv it would be $2 billion annually. they could pay for this half of page-but when you're thinking of competing with apple and other tech companies and looking to maintain their growth what better avenue than the most popular sports programming on the planet. connell: the mechanics of how they would do it, billion dollars is double, they pay $1 billion a year. if google pays $2 billion or something else, they put it on the google tv and stream it and competition with apple tv or is there another way of doing it but in terms of packages, football, baseball, soccer, all these things in the future. >> it would certainly start with that form of streaming and we have already seen them doing its in other hand-held devices so we know fans are interested, the verizon deal was bigger recently for the nfl. people are watching on their hand-held devices and not just live program and although that is the most valuable component, is the ancillary shows you are surrounded with that people will put it on. not attract ratings like live football programming. connell: is not free, the next discussion we should have. conventional wisdom out there right now, this is timely with the launch of fox sports 1, this week by or parent company and the other networks out there, nbc paying as much as it did for soccer, all the money that is floated around for football and baseball from espn and other networks. live sports is supposedly where it is that and everything can be d v red whether it is scripted programming or live news to a certain extent is hopefully something people want to watch as well but live sports, is it worth the money some of these companies are putting up? is that legitimate question to ask as numbers get so high? >> the answer is worth the money. we would not be sitting here right now had cbs decided it wasn't worth the money allowing the box forecasting network to pick of the nfl. cbs regretted that with the lead in ratings to 60 minutes and we see now with fox sports 1 deciding it was going to compete with espn and nbc sports, direct tv surpassed dish, its rival, because of the nfl. peabody $225 a month for the subscriptions because of the nfl package. people don't tivo nfl games, they watch the live. charles: there is not a point when the money is just too much? especially tech companies, if apple for example out of speculation gets in on it, so much money these companies that at some point it gets out of control of it is not there already or maybe not. >> i don't think it is yet. probably a long way because you want to have a competitive advantage, the technology side is part of that but what are people going to watch? it is great the way the apple device looks and the way the google phone is going to look at the end of the day it is content that makes the difference. that is why they're willing to pay for sports in general and particularly the nfl. charles: other companies are coming up with them for streaming the games and the google and apple device. >> the league baseball is the greatest seller of all time. connell: that is another story we talked about, rumors the rig going to go public with that unit years ago that was so successful for major-league baseball, digital property. >> it has 2 and did million dollars to each team's value because she journeyed baseball, advanced media by each baseball team. connell: now all football. we will see what happens. thanks a lot. good stuff from forbes. how about this story? ups no longer delivering when it comes to insurance for spouses of employees. company announcing it will drop 15,000 spouses from its medical planet they're eligible for coverage elsewhere. they cite changes from the affordable care act, obamacare. joining us is fox news contributor kristin harris and outreach director at freedom works and also a fox news contributor. what do you make of this? >> president obama was running a company, a business that provided goods and services he would be sued for false advertising because he has misled the american people. connell: people will be covered elsewhere. >> the other point is you can keep your current insurance. that is the thing. we are talking 15,000 spouses, family members who have to seek health insurance elsewhere so obama sold the affordable care act on the fact that it will be cheaper and you can keep your insurance when in fact americans have been misled. connell: people were expecting to keep their own insurance and in this case spouses who have jobs themselves need to go to another potentially another insurance company and go through there a player. would you think of it? >> the reporting on this is ups repeatedly cited obamacare as the reason for this but it is not clear why obamacare would have caused this especially because they said it is only for spouses who condemn their coverage elsewhere which means if they have a job where they have coverage under their employer that they can get it there which is actually a trend that has been happening with insurance companies pre obamacare. i am confused why obamacare would make an have to do this. connell: the reason they are siding, it is funny how we are learning along with everybody else, as much as we covered it until this point, it is complicated, the law requires large companies to cover employees and children but not spouses is how it was worded. what did you just say? >> this is about choice. why should someone have to be forced to seek insurance elsewhere when they were already covered? perhaps the coverage with ups might be better than spouses and insurance current plan is so that is why they're on the health plan. that is what america's about, the choices. on the flip side we have this mandate forcing individuals to have to seek insurance elsewhere and obama sold this on the fact that you won't have to change your insurance plan. stuart: your point is this would happen anyway, doesn't necessarily have to do with health care. >> it is already -- i am not sure you are arguing to mean obamacare makes it illegal for a company to offer coverage to a spouse? >> because of obamacare costs will be higher insurance costs are going up and in the end individuals have to seek insurance elsewhere. end -- connell: or getting to this. >> the beef should be with ubs. obamacare is not making them do this. >> the consequences of obamacare according to ubs and other research costs are going up, they can't afford to provide insurance coverage for the spouse's. connell: consequences than intended or otherwise is a big question. we were sold this idea health care costs were going to go down as a result of the health-care law. do you believe that will be the case? >> i don't think -- obamacare didn't go far enough. changes needed to take place to cause coverage to become cheaper. i don't think -- i support single payer but i don't think that was ever on the table. in dealing with the way billing is done, there are a lot of things that were not addressed that are part of the underlying cost. health care costs of increasing for how long? 15 years? hard to pin exactly whether it is obamacare or -- >> a total disaster. congressional members don't want it, unions don't want it, even union labor leaders don't want it for their people. is an absolute disaster. connell: we have to read that. you got cut off, i am sorry. you lost it anyway. the train left the station. good to see you, thanks so much. we talk all the time about -- it comes up all the time will there be any charges filed after the 2008 financial crisis. with that in mind attorney general eric holder planning to announce new cases may soon be on a whale lard -- large financial firms stemming from a crisis of let's bring peter barnes in any has more on that today. >> the attorney general telling the wall street journal in coming months he plans to announce new cases against large financial firms stemming from the 2008 financial crisis. the comments coming a month before the five year anniversary of the crisis amid some criticism that the administration has not been tough enough in prosecuting financial crimes and with the five you statute of limitations ticking down on some possible pre crash cases. eric holder said in the article, quote, my message is anybody who has inflicted damage on our financial markets should not be of the belief that they are out of the woods because of the passage of time. if any individual or institution is banking on waiting things out they have to think again. eric holder declined to discuss specifics but jpmorgan chase says it is under more legal scrutiny but one former regulator who was involved in bringing cases of financial fraud in the crisis said she is worried the justice department waited too long. >> 70 of enforcement actions makes sure there is compliance and generates the kind of behavior is we want to see in our financial system. when you have enforcement actions because of political pressure to do it that troubles me too so i wish we had earlier energy on this, more consistency about the cases we are bringing. connell: she does not know of any specific cases or number of cases the department could pursue, she said enforcement priorities of the justice department, quote, confuse me. connell: she is not the only one. more to come on that. peter barnes of washington. this new wall street journal study showing short sellers in the market looking at their worst losses in decades. charles payne will talk about that. twitter talking with bankers before it makes a decision on an ipo. that brings us facebook in directly and speaking of facebook mark zuckerberg, the co-founder meeting today with senator marco rubio so we will put the puzzle together on that and the connection between the two. all coming up. a lot more to cover, first oil market on markets now and what the price of crude is trading below 105. we will be right back. right now, 7 years of music is being streamed. a quarter million tweeters are tweeting. and 900 million dollars are changing hands online. that's why hp built a new kind of server. one that's 80% smaller. uses 89% less energy. and costs 77% less. it's called hp moonshot. and it's giving the internet the room it needs to grow. this&is gonna be big. hp moonshot. it's time to build a better enterprise. together. i'm, like, totally not down with change. but i had to change to bounce dryer bars. one bar freshens more loads than these two bottles. i am so gonna tell everyone. 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[ woman ] time for change! connell: let's talk about target. really missed the mark was second quarter profits down third teen%. nicole petallides rejoins us. stock and not doing well. nicole: absolutely right. we are seeing stock not doing well. it is down 2% close to 3% losses down $2 in 4 sense at $65.91 this retailer which has been a winner this year but like many of the retailers, it spoke of different problems that people we speak to have a lot of faith in the u.s. consumer for back-to-school and holiday shopping season but the latest numbers have been weak. in this case earnings fell 13%. they have some expenses and expansion in canada. obviously in the same realm as walmart for example but working on ways to boost sales and the light, we had another retailer, american eagle talking about less traffic coming through, we know customers and payroll taxes and a couple things people are dealing with and the jobs market. connell: marco rubio is meeting with the facebook chief mark zuckerberg. this thing is marco rubio is in san diego facing money for his pac, reclaim america. mark zuckerberg had already helped fund american's for conservative direction which ran ads supporting immigration reform that featured marco rubio. that is the connection. that is the connection between the two, mark zuckerberg and marco rubio. sonic is trying to jump in on the fees relating to the football season, the chain of drive-in restaurants today. unveiling plans to steam the logos of college teams onto its burger bonds. they will craft the burgers particularly taste of the region would be in there as well so for example louisiana cajun burger comes with tabasco and pepper jack cheese and then you got to pay more for also because sonic says the steaming at several seconds to the cooking process, they have to charge more for the burgers, $0.10 more for each burger, get your college logos seemed into your burger. whatever. licensing and royalty fees will go to the university's. not the players, which is a different story. charles payne will talk about the hit many are taking on wall street, short-sellers with charles payne the first look at markets now and world currency today and how everybody else is fairing against this. >> a military judge has sentenced bradley manning to 35 years in prison for disclosing classified information through wiki leaks. the soldier was convicted and 20 offenses including six violations of the espionage act. he could have been sentenced to 90 years in prison. hosni mubarak is getting out of jail. and egyptian court ordered the release and hearing on charges against him of accepting gifts from a state-owned newspaper. he is being retried on charges of ordering the killing of protesters during the 2011 uprising that led to his downfall. president obama is owed $312 from massachusetts treasury. the president is on the state's and glen produced for two cable-tv refund checks. they were cut during the first year of the obama presidency. mr. obama once lived in massachusetts when he attended harvard business school. those are your news headlines on the fox business network. connell: thank you. now some news for investors betting on the shorts on wall street. charles is going to love this story. new report from the wall street journal revealing the 100 most heavily shorted stocks on the russell 3,000 sharply outperforming the average return of the index. with that we turn over the floor to something we talked about a few times. charles: i had, my company is publicly traded and the shorts destroyed by stock. i have a personal vendetta. i don't like the shorts in the sense that i know they have a purpose but for too long they have been able to run amok. connell: you are not patrick lynch or whatever. charles: i won't where of bear ray and say space ships are landing but i will say the balance has been shifted so much particularly for small names, literally thousands of companies, publicly traded companies with no brokerage oversight, no one rice research reports and they are at the mercy of these shorts and they don't trading volume for these large hedge funds which go after other companies and not doing well. the top 100 stocks are up 38%, 33%. take this. that tells us these hedge funds for too long got lazy and they found if i don't like the story, i remember one of these guys shortage of polk mexican grill because they said taco bell was doing well. i don't consider them authentic rivals. i think it is apples and oranges. it is simplified work. they got lazy. look at the number of hedge fund managers who have been indicted or accuse or now going to prison. this bull market run to have to cheat for a couple points is not. connell: shouldn't be laz-z-boy you are paying fees to those hedge funds, were you getting in return? charles: 20% of profits, they get a management fee and they keep getting the money. even guys who go short. give us more money out there. connell: name, reputation. charles: the way the game is played and the assumption they are masters of the universe. this has been an amazing year for short stocks, amazing year for companies we have totally written off whether it was a game stop or best buy or networks -- if you are in a stock that is heavily shorted it may not be an authentic indictment of the company. could be lazy work on a hedge fund. charles: you smile when you saw these numbers. charles: it is gone too far and i know there will be balance in the market that has gone too far. they get to run amok in the market and typically have their way so it is comeuppance for them. connell: charles payne. twitter making the initial move to becoming a public company. here we go. remember we were talking about facebook? now twitter and all the speculation started on wall street. we will get new information coming up on that and choosing the best successor for ben bernanke, a topic of the summer, we will show you what the housing market needs from a new fed sheaf and housing numbers today. looks at some of the winners. every day we're working to be an even better company - and to keep our commitments. and we've made a big commitment to america. bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than any other place in the world. in fact, we've invested over $55 billion here in the last five years - making bp america's largest energy investor. our commitment has never been stronger. folks have suffered from frequent heartburn. butetting heartburn and then treating day after day is a thing of the past. block the acid with prilosec otc, and don't get heartburn in the first place. 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" wall street buzzing on twitter again. word getting out it's talking to bankers about a possible ipo. awaiting minutes from ben bernanke and company this afternoon, we look ahead to what the real estate market needs from the next fed chair. chemical weapons are again a headline in the civil war in syria. we have the latest on that. shares of american eagle today taking a big hit. the company reported it was forced to slash prices because consumers are reluck at that particular time to spend. what's up with the stock today? >> doesn't might be pay retail anymore? this is the theory not just with american eagle, but the retailers that had to do a lot of promotion/prices, you noted, the stock down nine and a quarter percent. i mean, that's a huge move for the teen retailers. they had the quarterly numbers wednesday. they reported lower revenue, profit margin not good news there, marked down prices. the foot traffic was pulling back as well, and so that's a drop in store visits, ultimately. that's not good news. same-store sales fell 7% for the environment they are seeing. interesting to see now, but a tough day here down a buck-53 # at 1486. not only are consumers cautious, right, don't want to open the wallets and spend top dollar, the teenagers.e extra question what's hot, what's not, this is hot now, this is not hot anymore. we've seen that with buckle and american eagle, and other stores. back to you. connell: talking about the new ipo that may be coming to town. twitter is reported to be holding preliminary talks with wall street firms vying to lead what could be a $10 billion offer according to the new york post. joining us from phillie is bill stone, chief investment strategist at tnc wealth management. i said it earlier, it's, like, so predictable how the conversation goes. articles mention it, us, the conversation, uh-oh, this is facebook all over again. what do you think? if twitter is public, lessons learned from what happened with facebook when it did the same? >> yeah, i hope so because i think, really, a step back, look at the odds, and in general public offerings that more don't work than do in terms of being good for the end investor, and i think, because i like to use, paraphrasing, did a great job, at one of the annual meetings i went to, warren buffet talked about and said, you know, think about what's going on here, which is the company gets to pick the time, the place, how much they market this thing, ect. in terms of when they sell the shares at the initial public offering. it's rarely more in the favor than at that particular time. it doesn't mean the twitter ipo doesn't go up. i have no idea. certainly, you go in with eyes wide open that probably the odds are stacked against you when they price this thing. >> so do you then, and this affects the next few questions that we talk about. do you then just write off ipos in regime because of the thoughts or strategy or forget about it with all ipos? >> to be honest, generally, that makes sense for most to do that. certainly, there are going to be specific opportunities. i'd say, in particular, maybe if somebody's coming public in a more difficult time in the market, maybe in an industry out of favor, but, again, double check, think to yourself, why public at this time if they are out of favor. do they know something i don't know about the business? i mean, you can't completely write off any investment opportunities, but if you're going to spend time on anything, it makes sense to spend it on something else, particularly because when it becomes public, you can buy it later; right? the open market, no problem. connell: exactly. that's why the next thing we talk about, say facebook just for using that as a point of reference and maybe it applies to twitter as well. facebook is public, covered on the show, nasdaq, the mess associated with it at 38 bucks. there it is, 3859 now with time to evaluate. do you go back, maybe, in this case look at facebook's business, and, well, it's not like you pay more for it. the stock looks, i mean, obviously, google, the opposite could be true, but there could be a chance for a second time around is the point. >> exactly. i think you have to take your -- look at it, and the great example with facebook saying, well, you're wac to close to square one, and it seems like the business got better in the meantime, and, cerrainly, you know, if you were really smart, you could have got it a lot cheaper. >> is that a facebook endorsement? >> could have gone up. no, i don't know specific details. i'm on twitter at least. that i can say. connell: i don't know if it applies to these companies, but what do you like, what do you see in the store, and if you like it, you think about buying the stock, but i think, you know, it was the case with twitter, that would be a bunch of journalists and celebrities buying the stock, and nobody else. maybe people like you. >> exactly. who else do i follow? a bunch of other journalists and other people that write things, you're right. i do think about that in a sense of i went to china not long ago and they have a twitter of china, and i was looking at them, and part of the issue is that even, i think, you struggle with twitter in going to the business dynamics is, you know, how do you monetize this? that's what it comes down to. as a shareholder, i care about making money. i know they placed ads and maybe there's other great ideas, but that's the other thing if you look at maybe buying the ipo, is that what's you have to figure out. how much can they monetize the business. connell: the question with facebook to some degree with the revenue, but how do you do it and sustain it. the question with twitter. bill stone, great conversation. >> thanks. connell: chemical weapons in the spotlight over syria. new reports of gas used in those weapons. we'll have the latest on that developing story from overseas. the importance of the next federal reserve chairman, when it comes to the housing market. focuses on housing, quality in terms of the market, what is needed to succeed, and new numbers that just came out. plus, more on google's effort to grab nfl programming away from direct tv. dennis and cheryl have more op that at the top of the hour on "markets now," but first, treasury numbers, the yield, a big story here, 285 is where we stand on the 10-year. ♪ [ male announcer ] these days, a small business can save by sharing. like carpools... polly wants to know if we can pick her up. yeah, we can make room. yeah. 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[ male announcer ] share more. save more. at&t mobile share for business. ♪ ♪ >> this is your fox business brief. stocks under pressure as investors remain cautious ahead of the release of the federal reserve minute from the last policy setting meeting. checking the dow right now, it is down about 66 points, and retailers are in focus for a second day in a row. shares of lowe's rally after the home improvement retailer reported better than expectedded second quarter results thanks to the improving housing market earning 88 cents a share, nine cents above estimate. sales climbed to 10% from last year to 15.7 billion, but staples is trading sharply lower. the country's office supply retailer had weaker than expected quarterly results. staples cut the outlook for the year. that's the latest from the fox business network, giving you the power to prosper. ♪ [ shapiro ] at legalzoom, you can take care of virtually all your imptant legal matters in just minutes. protect youramily... and launch your dreams. at legalzoom.com we put the law on your side. bounce is great because the freshness lasts for weeks in the drawer. why can't everything stay fresh that long? 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[ man ] lasting freshness. connell: we're back, and no matter who the are the picks as the fed chairman, chris mayor from columbia university says the new fed's housing policies are huge for recovery in housing. thank you for coming in. appreciate it. what -- why is the next fed chief so important to the housing market, which is, indeed, recovering, as new numbers show us again today. >> i think it would be hard to underestimate the influence of what the federal reserve has done for housing. connell: right. >> look at what brought back the housing market, it was not the government putting full faith and credit behind fannie and freddie, but not until january when the federal reserve bought securities in 2009 so the nbs market was what brought back bond spreads and the credit markets back. connell: that said, whoever president obama picks will be the president who picks the next fed chief, someone will continue the policies, don't you think? all summer, we argued, summers, yellen, someone to continue the policies; right? >> i think we don't know that for sure. connell: really? >> i think the question is, in a sense, how quickly they scale back the bonds. >> why republicans like janet all the sudden from the things you read because they think it's a shift and summers is more likely, or did >> i don't, you know, nobody's published what the views are for obvious reasons. it's a matter of, is this going to be in 2014, or is there an issue that it's going to be later. connell: right. >> the reason it's critical for housing because the bulk of what the federal reserve is they focus on mortgage backed security, pushing down mortgage rates relative to other parts of the bond market. connell: the big story in the bond market and rates in the last week or so with the spike seen in interest rates. the home sales in a moment, best since 2009, but what's going on with interest rates? >> we're starting to see the market. we've seen the market anticipate, so mortgage rates are up close to a hundred basis point from the trough. historically low, but i think they are at a level they could sustain for a while even as the fed pulls back. what matters more in a sense as important as the federal reserve chair is what happens to mel waits' appointment as the regulator for fannie and freddie with the question whether the president is going to push that and senate democrats push the nomination and vote on it, or whether that's going to sit in the filibustered category. connell: what might happen there? >> if appointed, surely there's credit standards come in a little bit, which is to say fannie and freddy had historically tight credit standards, and i think you would start to see the standards loosen a little bit, which would pull us off of the existing -- you know, talking about the existing home sales, those numbers are great. connell: yeah. >> we know that 40-50% of the purchases are cash purchases, so, actually, mortgages for purchasing homes are in the levels of the 1990s, so this -- connell: could change in a hurry? >> i don't know that it changes, but the purchasers are older people who are paying in cash, but many are investors. to bring back sort of home buyers and other people that surveyed want to come back to the market, we have to see the scores come down off the 760, 770 where they are now. connell: average people that buy homes versus oil russian billionaire buying manhattan, what's' going on. great to see you. >> great to see you. connell: all right. as we continue here and look at the markets for you, investors are waiting -- speaking of the fed, for the minutes to come out this afternoon. let's shiest to that. teddy joining us at the new york stock exchange, dow down, below 15. write something into the minutes for us or what you expect to hear from the fed. you got the crystal ball out. what would you like? >> looking at the crystal ball, and it doesn't say anything. we have have to wait and see what minutes say. clearly, the uncertainty created around the fed, what they will or will not do, all the constant rhetoric, and di divergence from the individual fed governors, all it's resulted in is confusion and uncertainty, but, you know, the ten year, the bond market doesn't lie, and the bond market's telling us interest rates are going up. connell: that's the story, isn't it? >> that's the story. connell: ten-year, 285 today, i think? >> up a little bit, yeah. connell: where we going? somebody said 4% yesterday in the show, other numbers are around. is that a worry for you too, or -- >> no, listen, only a worry in theceps we live in the cacoon of liquidity for three years, and in spite of all the rhetoric to the contrary, i mean, if the fed changes its policies and starts to taper and stops sweating the market with liquidity, there's no way it's a positive in the short term for the target. connell: next fed chair, may affect a timing of that or will affect the timing of it, but could be different. >> that's right. connell: good to see you, thank you very much. >> thank you. connell: breaking news from syria. new reports that the u.k. and france will officially request a u.n. investigation into an alleged gas attack by the syria government. opposition groups say 100 people, including children killed, when government forces fired rockets with chemical warheads into the suburbs of damascus. they claim that happened earlier today. let's bring in from fox news, leeland vittor. leeland? >> the rebels uploaded a number of videos online showing the aftermath, and some we can show you, some are horrific; others, just no word in the english language to describe how awful they are to watch. they show a number of people, children especially, suffering after what appears to be a chemical attack, and we know this because there's a lot of folks in agony, a number of dead bodies there, and no apparent wounds pointing to indeed a chemical attack as rebels have said. the death toll is escalating, numbers as high as 1,000, although those are unconfirmed reports as of now. the syria government, for their part, says that these claims of a temperature call weapons attack are, quote, basicallyless, and the russians backed that up saying they do not believe a chemical weapons attack happened. today, the videos are surfacing just as the united nations weapon inspection team is on the ground inside syria looking into claims of other attacks, back in march, that both sides talked about happening, whether or not the timing of that had anything to do with it. yet to be seen. right now, of course, this is probably another crossing, if true, of president obama's red line in terms of what would happen if the assad regime did, indeed, use chemical weapons on civilian populations in the past, meaning arming the weapons, proving easier said than done over the past couple months. back to you. connell: all right, breaking news from syria covering it in jerusalem for us. thank you very much. holdings moving brands from one agency, one ad agency over to another. there could be big ramifications for that. see what the bunny thinks and we'll have a report from diane macedo. keep it here. here's winners we are seeing this morning over on the nasdaq. ♪ right now, 7 years of music is being streamed. a quarter milliotweeters are tweeting. and 900 million dollars are changing hands online. that's why hp built a new kind of server. one that's 80% smaller. uses 89%ess energy. and costs 77% less. it's called hp moonshot. and it's giving the internet the room it needs to grow. this&is gonna be big. hp moonshot. it's time to build a better enterprise. together. and this park is the inside of your body. see, the special psyllium fir in metamucil actually gels to trap some carbs to help maintain healthy blood sugar levels. metamucil. 3 amazing benefits in 1 super fiber. ♪ qon con i don't have any cool animation like that. energizer holdings taking brands from one ad agency to another. macedo on advertising, yeah, yeah, diane has the details. diane: yeah, yeah, i like the introduction. moving business away from gray advertising ab #* and over to jwt. now, this is big news because while energizer's associated with energizer battery, of course, there's brands like play tex, dana that boat, diaper genie, and other brands playing a role in the move. gray won the gilette account, the biggest ad account, and one, if not thee largest account win this year. that said, energizer was not comfortable keeping the brands under the same roof as the rival. a spokesman said, quote, we won the account from long time client earlier this year and energizer owns that and other shaving brands, so they consolidated the brands like hawaii traffic, play tex, and banana boat. now, jwt already represented schick, but in addition to all the brands mentioned, energizing agreed last month to buy johnson & johnson stay free and carefree and ob brands. in other words, we're talking about an already huge account with the potential to grow even more. so this is a big win for jwt, also just expanded a relationship with nokia, but the big winner here is wpp, owning both jwt and gray so it not only gets to enjoy extra revenue from the new account, but also manages to keep all the energizer business in the company as well. connell: crazy world of advertising. that's why they make the madmen show, a lot of back and forth. diane: it's almost all the companies are owned by a giant parent company so it's generally three or four companies competing against each other. even moves are within the family. connell: there you go. schick is difficult to talk about on television so you did well with that, and diaper geneny grosses me out. >> that's not my world. i'm not there yet, buddy. connell: just warning you. killed off the newspaper business, but now how about football and google? google and the internet about to kill television? uh-oh. say it ain't so. dennis and cheryl ahead with more as "markets now" continues, and the plan google supposedly has to buy the ticket that direct tv has now, and eric holder, attorney general, crisis crack down, bad for your portfolio and 401(k)? keep it here as cheryl and dennis take it on with a senator who wants to see wall street prosecutions. ♪ [ male announcer] surprise -- you're having triplets. 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[ male announcer ] one pill each morning. 24 hours. zero heartburn. cheryl: hello, everyone, noon eastern time. i'm cheryl casone. dennis: bill says he may made bail out of jcpenney. a letter to new investors. cheryl: google tackling television, killing the newspaper business, and now google and the internet are about potentially to do the same to tv, a special neil on media with a look at google's reported plan to buy rights to the nfl's sunday ticket package. dennis: lick tore stores, a favorite venue of mine, may go to the way of bookstores, scan labels to find a better price on the web. cheryl: i got the wine bottle right here, everybody. you know me very well. breaking news right now, of course, what dennis mentioned, breaking news on jcpenney. let's bring in nicole from the floor of the new york stock exchange looking at that stock. right now, moving on this letter from mr. ackman. >> that's right. this is something we are following closely now, breaking news on jcpenney, which right now, is down about 3.5% at the moment. the ongoing story pertaining to jcpenney in this case, bill and persing, bill, of course, an activist and he was on the board until just last week, so now it's interesting that he's writing to his persing customers, and saying that we may choose to exit jcpenney, and this is what he writes in a letter. of course, he defends the track record, his herbal life short position, but saying that he admits mistakes in the retail investments in this letter, so we know that he's been very vocal pertaining to jcpenney and other board members wanted really ousted because he, at one point, he was all for the new ceo, mike ulman who came on board in april to replace ron johnson only lay later to say he was not hot on him after all enmented allen and another gentleman from foot locker to take the place. he's had a lot to say, and he has been criticized greatly, and so now down 3.5%, jcpenney, but he and the last part of this saying "our success is vastly overwhelmed our failures," but admits mistakes in retail investments. we have to figure out how to get out of jcpenney. back to you. dennis: not as easy as it looks, is it, nicole? thanks very much. cheryl: following, of course, what's happening in the targets, and a lot of stock picking may be going in over the next six months, investors at this point, also today, waiting with baited breath for the latest fed meeting two hours from now. the chief investment strategist, rob, a favorite stock picker, of course, and i want to ask about the retail sector, but data coming out today, housing starts out, waiting on the minutes from the fed, but the big question here is, in your opinion, is the employment data strong enough to force the fed to start tapering? >> well, cheryl, if you look at the weekly initial jobless claim number from last week, you know, it hit a six-year low, and so i do think that that number's pretty good, and last year, missing the overall retail sales there, inflation constrained, housing, existing home sales hitting, you know, three year highs today, and so higher rates have yet to impact that. i think -- i tell ya, there's not a lot a lot out there that looks -- that looks really bad from a data stand point. cheryl: bad from a data standpoint, but take that into the feds' way of thinking because, you know, they got this target. they are clear about 6.5% unemployment, at the same time, jobs created, a reporter joins us later in the hour to discuss it is the fact there's part-time jobs created, and they are lower paying jobs. >> sure. cheryl: does the fed take into that their thinking deciding whether or not they make a move? will they make that move in september, rob? >> i, you know, i, cheryl, i don't think -- they probably should take it into consideration. i don't think they necessarily do, and i do think that the expectation is that they will -- they'll start tapering in september, the next meeting is, like, the 17th and 18th of september. cheryl: right. >> they'll talk about it then, and, yeah, i think it's lining up that that's what we're going to see, a tapering starting at the end of september. cheryl: okay, okay, the "wall street journal" wrote an article about we're a stock pickers market, great to have someone like you on the show, and you've been a big part of our fox business showdown or stock picking contest. when it comes to stock picks, sometimes the retailers, the viewer right now, are concerned about picking stocks versus the safety of the index fund, the safety of an etf, for example, or a reit. how do you convince them, it's okay, go out, look at individual stocks and make some bets? >> well, you referenced, i believe, a wall street journal article on this saying that -- cheryl: right. >> the correlations between individual sectors and assets have been going down, and that is a good thing. that means investors are starting to focus on individual securities, and so i guess, you know, without, you know, getting into the jargon of the business, if i were trying to convince individual investors it was time for that, i would really reference that, absolutely, so i do think that right now in the cycle it's a good time for that. cheryl: okay. you like small caps, and that's. a big theme of yours, you switched this year, only going overweight and large cap, but now you're a small cap picker, smaller companies. now, with the smaller companies, they have issues whether it's regulation or corporate taxes. are you stake sticking with the small caps? >> i am, yeah. one reason i made that shift earlier in the year, and number one, i thought the dollar would trend up this year, seen a little of that, takes the wind out of the big cap sales, and another piece was, you know, we had the dividend tax increase earlier in the year, and that affects, typically -- i mean, obviously, small caps are good payers too, but by and large, more of the large cap, and as the bull market ages and begins to broaden and we're, you know, four years into this one now, actually in year five, you know, you start to see more movement towards small caps so i do, even though small caps have done well, i'm still riding that train, cheryl. cereal cheryl: still awaiting the results of the bet in the phillie cheese steak. let us know. >> i know, i know, i know, jim is -- i'm trying to set that date with jim. cheryl: you two are busy guys. >> i know. cheryl: thanks, rob. dennis: cracking down on wall street. attorney general eric holder may be drumming up new cases against financial firms for the role in the economic meltdown over five years ago. holder speaking to the wall street journal warning, quote, anybody inflicted damage on our financial markets should not seize to believe they are out of the woods because of the passage of time which sounds ominous, and congressman from michigan is pressing justice to invest gait jpmorgan joining me now on the phone from flint. we appreciate you being here congressman killdee. if there were really rampant criminality across all of wall street that led to the meltdown, those guys would have been convicted by now. this is five years later, maybe wall street was stupid and careless, but was it criminal? what do you say? >> caller: well, i think whatever the time attests, doesn't erase it back. it may be arguable that the justice department says this is earlier, and i suspect that makes for a complicated case. the energy case, for example, that i press is the justice department to look at those trades that began in 2009, and it was -- it took an investigation, settlement of that claim to raise us to the level of the criminal investigation, but, look, there's plenty of cases of criminal investigations across the spectrum, not just on wall street, but across the spectrum that take time, and i think what the attorney general said is right, just because there's passage of time, we can litigate why it takes so long doesn't erase the fact if laws were violated and if, particularly, criminal polls violated, those fashions come to light in the course of the investigation and in the court of prosecution. i don't think it's inappropriate that these cases should go forward. dennis: at what point is it more political and aimed at perse cushion rather than prosecution and hurt recovery? what about the idea of a wall street amnesty, a reconciliation commission to move forward rather than looking backyard five year to a meltdown we were a part of, higher yield, invest in riskier assets and later we want to sell them from wall street because the assets went down. you know, congress, both parties, fueled the housing bubble by making loans incredibly cheap to people who never should have got a loan got them willie-nilly. what about just moving forward. isn't this a lot of political scalp taking? >> caller: think about what you are saying in the context of typical crimes that are prosecuted. i don't think we ever say the since it took four or five years rson who walked into the bank with a gun and stole money, that, you know, let's move on from that. we wouldn't say that. you know, this is a case where there were clearly policy judgments that were made and errors made, but this investigation has to do with is whether there was criminal wrong doing, and i have great faith in our justice system that it will be able to fair it out and ask questions. i don't think it's appropriate for us to say that because, well, you know, we kind have went past the financial crisis, let's not apply the same scrutiny to people who may have had criminal liability for x go beyond simply regulatory failure or beyond simply a bad business judgment that actually go into individuals enriching themselves by violating law. dennis: but, congressman, at some point, you have to do better than coming up with fabulous fab, and the big guys, if criminal, we would have already indicted them by now. one last question, sir. do you think that wall street, generally, is honest? >> caller: well, i think generally most people are honest, including people on main street and people on wall street, but i think the rules ought to apply the same in every environment. i know in my hometown of flint, if you break the law, two or three or four years ago, and they are caught and revealed to have done something that was against the law, they would have to pay a price, so i think both are honest, most people in the financial industry are honest, they are all painted with a broad brush, and until we root out those who are clearly criminally liable, if they are, then we won't have a system that has the integrity that it ought to. dennis: all right. we appreciate you being with us today. thank you so much, congressman dan kildee. >> caller: thank you. cheryl: home improvement sector, charles payne with a take on that, and, plus, comparison to the other name, that's home depot. dennis: google takes on direct tv looking at bidding on direct tv's nfl sunday ticket package. going the about to kill the tv business in the process? ♪ join us at projectluna.com dennis: urging opposition government and leaders to allow the united nations access to sites pertinent to investigation of allegations of chemical warfare. there's set to be an emergency meeting at three o'clock today to address alleged gas attacks on syria people by the assad regime, the government. we'll bring in more as this developments. cheryl: back to markets here in the united states, watching the dow right now, down 63 points. a lot of names on the board, dow 30, but most in the red. i want to look at a couple names here. first, look at intel, the biggest drag, accounting, and look at home depot, and i got charles payne here, and he's looking like he's ready to roll with home depot, lowe's in a couple moments, and home depot up 22 cents, and that, of course, is a dollar, 1.69 of the dow impact as you can see there on the screen. we got lowe's earnings this morning, and anyway, that is the dow 30 right now, down 61 points and change, and bringing in nicole on the floor of the knocks stock exchange. >> most of the board matches your dress; right? 30 dow stocks, only four in the green, rest is plenty of red arrows as everybody eagerly awaits to hear what we hear from the fomc today. everybody is expecting tapering, and most analysts and economists we speak with, about 65% expected. there will be some tapering in a few weeks in september, and that said, there's a look at the dow jones industrials, down again today, so you have seen it five days in a row, lost count, and the dow -- also the dollar is stronger today, so you are in a an environment with a stronger dollar and selling that continues. retail, drugs, banks, all with lower arrow, and transports also have a down arrow as well, and let's just quickly touch commodities, oil, gold also pulling back, so majority of the names that we're covering are under pressure, and a lot of the retailers are leading the way like staples, for example, a big lagger, back to you guys. cheryl: nicole, thank you very much. ♪ dennis: making money with charles payne. lowe's, hardware store hitting a new high after earnings jumped 26% in the second quarter, and, charles, making money on the dreaded pursuit of home improvement. >> a larger picture actually, compare lowe's report and home depot yesterday. home depot up big in the premarket, gave back all the gains, lowe's' up big. what's going on? what are the things people have to look at? there's, obviously, the macroissue, doing well with respect to the improvement in the housing market, but viewer with individual stocks in the portfolio go to the management discussion part of it. this is telling. management said home improvement demand was strong. okay, we get that. they all use the word "strong" -- cheryl: a three year high this morning, obviously, there's a lot of demand; right? >> here's what i like the most, the most important thing said. we capitalize on it with improved execution. this is the sense that lowe's is getting their act together. the stock is up not because of the home thing; otherwise, home depot and lowe's would be at the same amount, but lowe's, ran in the space, poor execution, they are getting their act together. i think people see that with respect to some of the operating markets moving up nicely, and, guidance was just slightly better than home depot's guidance, and that's what the stock is reacting to. if i'm holding home depot, it's not getting the love lowe's is getting. cheryl: management too? >> specifically about management. dennis: the chart shows lowe's up 60-some percent and depot up 30-some percent. i think, therefore, i'm likely to buy home depot rather than lowe's? >> no, no. take a longer term chart. historically home depot ate lowe's lunch. from a pe point of view, about the same, but pure valuations, lowe's has a much lower price to sales rash ratio, and that's double home depot. they are rewarded. dennis: a buy then? >> a buy. cheryl: talk about it after interest rates go up. >> absolutely. the home sales number, not all that great, guys. real fast. two red flags for me. time on market went to 42 days to 37 month over month. first time buyers 39% of buying to 37% a year ago. we need it over 40%. dennis: we'll take it, thanks, charles. cheryl: something charles loves, this is the fox business all-star showdown, your ultimate fight for stock picking supremacy, and up this friday, jim and oliver back to duke it out in the semifinal round. oliver got the win with tootsie roll, and we tracked it for the competition. sweet for him, but look at jim's pick during his battle in round one, which, by the way, against rob morgan, hence gymny needs to call rob for the phillie cheese steak situation. orbitz up for him. you would have made a nice little return on both of these names. now, only one of these two men can move on in the showdown going head-to had -- head-to-head with new picks this friday. i'll get charles payne into the showdown, i don't know how, but i'm working at it. my brain is spinning. dennis: all right. meanwhile, blame obamacare, three out of every four jobs created this year are part-time, and we will look at that, coming up. cheryl: fears across the country and this studio that liquor stores are going out of business by website offering cheaper booze. we have the ceo of wine.com. we are upset about the segment coming up. dennis: catch a glimtion of the full moon last night? the blue moon, last until 2015. why do they call it blue? when i saw it last night, it was yellow. cheryl: it was gorgeous. dennis: what is that? cheryl: exactly. ♪ ♪ 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 safeand secure. and responsive dedicated support meets your needs, and eases your mind. centurylink. your link to what's next. a quarter million tweeters is beare tweeting. and 900 million dollars are changing hands online. that's why hp built a new nd of server. one that's 80% smaller. uses 89% less energy. and costs 77% less. it's called hp moonshot. and it's giving the internet the room it needs to grow. this&is gonna be big. hp moonshot. it's time to build a better enterprise. together. >> 24 minutes past the hour, this is your fox news minute. a military judge in maryland sentenced manning to 35 years in prison for disclosing classified information through wikileaks. the 25-year-old soldier convicted on 20 offenses including six violations of the espionage act. he could have had 9 o years in prison. former president, mubarak, is getting out of jail ordering in a release on charges of accepting gifts from a state owned newspaper. the 85-year-old mubarak is now retried on charges of ordering the killing of protesters in the 2011 uprising that led to his down fall. and there was something special in the sky last night that you won't see again for a couple years. a blue moon. subject of song and phrases, it's not blue, but the term given to a rare second full moon in a month. it appears once every three years. those are your news headlines on the fox business network. i'm lauren green, back to you, cheryl. i asked to see the blue moon at five o'clock this morning. cheryl: saw it last night in the same area of new york that you live as well, it was gorgeous and what a stunning sight. >> it was blue over the hudson river. cheryl: was it? >> sure. cheryl: somebody has a better view than i do in manhattan, and that would be you. thank you very much. >> sure. cheryl: three out of four jobs created this year are part-time jobs according to new data, and they blame health care reform. with more, lizzie has the bottom line. companies basically are looking more for part-time workers because of health care. >> they cite health care, that's right. the numbers are startling from the bls. 953,000 jobs according to the household survey. the chart, you see of the 953,000, look at this, cheryl, there's a whopping 731,000 are part-time jobs. wow. what we saw in the last jobs report was about, you know, basically the retailers, restaurants, the bars, lower paid jobs; right? already. we have on top of that, and, by the way, those jobs make up less than 40% of the entire u.s. economy, but a rise in the jobs, that, and also lower paid jobs means the u.s. economy's flat lined because consumers are 70% of the u.s. economy so you don't have the consumer spending to get back in, cheryl; right? cheryl: what's disconcerning about this is the feds got to look at the unemployment data and weigh the fact there was service sector jobs created, lower wage, no economic stipulation there, and also the fact you're not getting full-time jobs created at all. i mean, that's -- the unemployment rate, slice that ten ways to sunday. >> that's right. client staffintions, cornerstone search group cite the health reform law saying that's why part-time jobs are up. the companies shown on the screen now, there's a rise in part-time jobs, and the other thing, too, this trend took place in the first half of last year too, more than half of the jobs created were part-time jobs, and the san fransisco fed came out with an interesting statement, cheryl, saying that due to dc policies and uncertainty tax and regulatory policies, the san fransisco fed, yellen's turf, 2 million more people would have had jobs were not for dc policies, so in other words, the jobless rate would have been 6.5% last year, not 7.8%. more health care, less jobs, lovely. cheryl: great stuff. all right, thank you, liz. >> sure. cheryl: appreciate it. dennis: first they killed the newspaper business, and now google about to do the same to television? a special neil on media ahead look at google's reported plan to buy the rights to the nfl sunday ticket package. cheryl: liquor stores going the way of bookstores? apps allow you to scan liquor bottle labels to get a better price on the internet. the ceo of wine.com going to be here next. i've got my wine ready to go, just in time. ♪ [ male announcer ] how do you get your boce? i'm, like, totally not down with change. but i had to change to bounce dryer bars. one bar freshens more loads than these two bottles. i am so gonna tell everyone. [ male announcer ] how do you get your bounce? [ woman ] time for change! ♪ make it happen with the all-new fidelity active trader pro. it's one more innovative reason serious investors are choosing fidelity. get 200 free trades when you start using active trader pro today. always go the extra mile. to treat my low testosterone, i did my research. my doctor and i went with axiron, the only underarm low t treatment. axiron can restore t levels to normal in about 2 weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especially those who are or who may become pregnant and children should avoid contact where axiron is applied as uneected signs of puberty in children or changes in body hair or increased acne in women may occur. report these symptoms to your doctor. tell your doctor about all medical conditions and meditions. serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet or body swelling; enlarg or painful breasts; problems breathing while sleeping; and blood clots in the legs. common side effects include skin redness or irritation where applied, increased red blood cell count, headache, diarrhea, vomiting, and increase in psa. ask your doctor about e only underarm low t treatment, axiron. dennis: coming up in the next half hour, skinning liquor bottle labels in the store and then buy a better price online. a special media ahead. there is an app for this bid people looking to rent some time on our. >> by the way, skinning the liquor bottle and buying it cheaper elsewhere would never work for me. herbalife and jcpenney bold type to fill command. they are saying the success, he is defending that track record. microsoft is the number one winner. back to you. cheryl: liquor stores could soon go the way of bookstores. you can go off and find a better price on the web. is it fair to say that this is the big new trend in the wine industry? >> i think the mobile part of that is a big new trend. we are seeing people using their phones more at restaurants. they are peaking their interest at dinnertime on saturday night. spitz is your website seeing a big pickup? is there true data behind this assertion? >> yes. we are seeing 40% of our profit coming from that. cheryl: they are looking to buy something right away. at the same time, it is an immediate purchase. it is not worth it to save the dollar or two dollars. >> it really is not about price. we have handled all of the shipping localities. i am last-minute. we can get you the bottle the next day. cheryl: fim cooking dinner, i want it right then. >> we will have to get you a case in your stash. cheryl: i was curious that i did a comparison thing, i found that into liquor stores -- maybe this is not a very particular wide distributed wine. many liquor stores stock very different types of wine at different price points. >> exactly. of course, online, with many categories, we can have a giant selection. does it have a score from a critical publication? it just helps people get comfortable trying something new. cheryl: trusting take on the wine business. very successful. very content rich site. thank you. >> thank you. ♪ dennis: google tackling television. the internet has already buried the newspaper. is tv next? the all-you-can-eat subscription tv service, currently, the contract is owned by direct tv. we have the on log, editor of the eat right blog. what do you think about the implications of this? >> i think that it could happen. the implications are huge. the internet has already eaten the print business. those barriers are not insurmountable. a few companies are amassing enough companies that they can actually consume legacy media. if it happens, it is a huge, huge thing. dennis: the different between cbs and google is striking. a billion-dollar year cost for this contract is entirely doable for google. >> it is nothing. this whole search business which google will, i have always looked at that as their stage one rocket. i think larry page has much bigger ambitions. just doing a search. he is using it to find his way into all sorts of things. dennis: i remember when google bought new. we did it to get into television. you recently visited south youtube folks. >> google invested $100 million creating new content. there is an inflection point. all sorts of new things can happen on this platform. the one thing that tv still has its claws into is live sports. i said, well, is it conceivable? is it good enough yet? he was sort of saying, maybe not, but we are almost there. they had a huge audience for the jump. that was another turning point. google and youtube saying, we can actually do this. maybe we can do it better than tv. dennis: it is the perfect portal to give it a try. thank you for being with us today. great to see you. cheryl: keeping the companies reporters to accessing private information from wall street clients. that is coming up in your fox business brief. cheryl: there is an app for that. looking to rent some time on the water. ♪ [ male announcer ] imagine th cute blob is metamucil. and this pk is the inside of your body. see, the special psyllium fiber in metamucil actually gels. and that gelling hes to lower some cholesterol. metacil. 3 amazing benefits in 1 super fiber. ♪ ashley: i am ashley webster with your stock business brief. but down right now is of nearly 68 points. more than 6% do an annual rate of 5.39 million units. expecting a sharp increase in borrowing costs. bloomberg says it has instituted new policies and procedures. the move stemmed from an outside review that paula complained earlier this year that client for accessing login information. that is the latest from the fox business network. giving you the power to prosper. double dennis: your next ride on a yacht maybe just a mouseclick away. joining us now from san francisco, ryan pedro. thank you for being with boat owners use their craft the 8% of the time. >> that is correct. thank you for having us on the show. both sit idle a tremendous amount of the time. we are giving boat owners an opportunity to make some additional income. we are seeing a lot of tremendous growth here. not only from the boat owners side, but from the renter side as well. we are in 60 countries. about 800 cities worldwide. we are really happy with the growth that we have seen thus far. dennis: how does this work and how do you make money on this? >> we connect both to people who want to rent them. you can listed by the day, by the hour, by the weak or any duration that you want and price it according. what you can do is search any destination worldwide. you can find the boat that you want to take out. dennis: typically, our votes for expensive than a hotel room or cheaper? >> it depends on what you want to do on the water. it depends on what your pleasure would be. dennis: think you for being with us. good luck. >> thank you. cheryl: time for stocks now. we will get the monsieur. about an hour and 12 minutes away to be exact. >> i think what i'd like to see is just a little clarity. the message has been so convoluted. everybody is saying something different. it would be nice to get a uniform message from the minutes and perhaps investors would get it. cheryl: i do not think you will get that. you will get some discord. >> absolutely. it clearly is the problem with market at the moment. the markets cannot stand uncertainty. on the other, the bond market is probably telling us the truth. we can expect some tapering and higher interest rates. cheryl: i think you are right about the bond market. thank you. dennis: gasoline inventories getting a big boost. let's head to the trading pits of the cme. >> they start to dwindle down at the end of the summer driving season. more than likely, we are starting to see the impact from libyan oil production. they may be importing more than they are exporting. that led to a big surprise drawdown. look at the rest of the complex. under a lot of pressure. it seems that those numbers look heavy ahead of the fed minutes today. dennis: thank you, phil flynn. cheryl: out on the farm. bosses on california farms on edge. that is coming up in the west coast minute. ♪ a wingman. and with my cash back, you are money. forget him. my airline miles will take your game worldwide. what i'm really looking for is -- i got two words for you -- re-wards. ♪ there's got to be better cards than this. 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[ male announcer ] one pill each morning 24 hours. zero heartburn. cheryl: time for your west coast minute. wildfires continue to burn. fires in oregon, california, idaho and montana continue to grow. 8000 acres have burned in the state of oregon alone. california far bosses are on edge. california is the nation's largest agriculture in june. many farm owners say they are not sure how they will be able to afford coverage. drivers in the area are the biggest group to embrace electric vehicles. 8% of all registration is happening in seattle. that is your west coast minute. dennis: they ought to cut san francisco out of that. cheryl: you drive so much in california then you do here. i think that would be exciting for drivers in california. fantasy football dream team. the world's most powerful company. dennis: missing the bull's-eye. target warns about the slowing consumer spending. by the target is a buy right now. cheryl: turning your hand into a mobile phone. the first phone to allow you to make and receive phone calls. adam and tracy are coming up. ♪ achine. achine. what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally. every day we're working to and to keep our commitments. and we've made a big commitment to america. bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than any other place in the world. in fact, we've invested over $55 billion here in the last five years - making bp america's largest energy investor. our commitment has never been stronger. bounce is great because the freshness lasts for weeks in the drawer. why can't everything stay fresh that long? [ male announcer ] how do you get your bounce? [ man ] lasting freshness. [ male announcer ] how do you get your bounce? a quarter million tweeters is beare tweeting. and 900 million dollars are changing hands online. that's why hp built a new kind of server. one that's 80% smaller. uses 89% less energy. and costs 77% less. it's called hp moonshot. and it's giving the internet the room it needs to grow. this&is gonna be big. hp moonshot. it's time to build a better enterprise. together. >> good afternoon. >> it could be a long ride. the fed minutes due in just one hour. why our next guest says he may have to wait until the middle of 2014. wells fargo analyst will be here to tell us how we can take advantage of the pullback. cheryl: attorney general eric holder drumming up new cases. had, we will tell you why he loved there is concerned about motives with these cases. >> is the tech giant ready to buy its way into tv. >> it is not samsung, it is not apple. it is called hands on talk. adam: it is time for stock now. the dow is down for the fifth day in a row. twenty we have seen a lot of selling. last week was a dramatic one. a loss of about one third

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