Transcripts For CNBC Closing Bell 20150505 : vimarsana.com

Get out of this once hot group or a buying opportunity . We ask it every time it sells off. Panera bread getting rid of more than 150 artificial ingredients in its food. Will this move force the company to raise prices . Ceo and cofounder ron shaich joins us in a first on cnbc interview. Lets take a look at the Market Action right now. Red arrows across the screen. S p down more than 1 . The dow down more than 150 points. The nasdaq down 1. 5 . Clearly stocks have broken the twoday winning streak. I want to take you to a live shot of post six on the floor of the New York Stock Exchange. Theres can kenny polcari. You have a sizable crowd developing there. Thats where salesforce trades. There was a rumor in the market for the last week or so. People speculated on names like microsoft, oracle and ibm. Jim cramer said at the time this was all going down its got to be microsoft, its got to be microsoft. If it was oracle it wouldnt be a good fit. Culturally there was a difference between those two. We knew it had to be Something Big with the amount of fire power that could handle this multibillion dollar deal which could be north of 50 billion if it ever did happen. Well get a reporter in the midst of that mix over there right now. You can hear behind us a boisterous crowd as theyre screaming prices of sales force. What was that . I think we have josh lipton with us live with a little more color on salesforce. Com. Josh . I heard you talking about microsoft. According to the bloomberg reports said to be weighing a bid for salesforce. Com. This is not the same company. It was not microsoft that made these initial offers. Thats what were learning. Remember, of course we had this news last week some arguing when they first heard about this that microsoft did make some sense. I was at the Microsoft Developers conference. Marc benioff in the audience listening to nadellas keynote. We also know nadella has made cloud front and foulke kus part of microsofts strategy. Its on a 6 billion run rate. Interesting news here guys. Back to you. No doubt. There was talk about the size of a potential deal that it would be the Biggest Technology deal of not only this year but i believe in some time maybe in the lives of salesforce. People were throwing around a 50 billion, 60 billion number at the time. The stock has resumed trading now after that halt. It is up by 5 . Josh are you still with us . There are only a handful as weve been reporting, of companies that could actually make this deal happen. Oracle was one of them microsoft was another name that came up. Just in terms of the sheer size. Yes, you were looking, according to analysts at evercore, they crunched the numbers, you were looking at anywhere between 55 billion, maybe as high as 64 billion. To your point, sara there are very few companies that could do that kind of deal. Oracle was a name that was put out there. If ellisons company made that deal, they could be king of the cloud. It was tough for me to see that. Im thinking of the most kind way to put the relationship between ellison and benioff. Its colorful. Those two constantly go after each other. Theres a history. Certainly a rich history. Ibm was another one you heard about. Ibm certain challenges there, especially when it comes to dollars and cents, ibm has 25 billion in cash on the balance sheet, 35 billion longterm debt. Microsoft is a name analysts quickly started talking about. Thank you so much josh lipton. Well stay on top of this story. Any more developments well gef get them to you as soon as possible. The crowd over there is gone. Salesforce has resumed trading. A little drama. Just a little to start the show. Less than when the first reports hit and it was like chaos. A mad house down here. Lets do our closing bell exchange. Okay. Now im told we have dan ives on the phone. Yes im here. Hey, dan, does this make sense if it is in fact microsoft . This makes perfect sense. That little da needs to make an guessive move on the cloud. This is really where hes bet the next five to ten years for microsoft. I would view microsoft or salesforce as checking all the boxes, making a ton of strategic sense. Continue to think oracle is involved here where this also would fit in in terms of their strategy on the cloud. This should be nadellas stamp on the cloud side in terms of going after salesforce. How do you even big first of all, the price is steep. It would be steep. It would be a ginormous deal. How do you contemplate integrating a company with at least 16,000 employees into microsoft . Yes, but salesforce is its own machine at this point. I would kind of view it as being run as part of the Cloud Business. If i look at microsoft and the direction theyre heading, they needed to make a big move. This is one that would fit that strategy. Im not worried about integration given that i see minimal overlap. In terms of the price paid microsoft has an option here do they buy a country or do they buy a company . They have so much cash and they need to make the aggressive move, especially with others looking at salesforce. They cannot stand by. I view this as a golden opportunity for nadella. I think this just shows its not microsoft, its aggressive and they need to make a move in the cloud. This would fit like a glove in our opinion. Ellison and benioff have sparred publicly over the last couple of years. If it is microsoft, what would it mean to oh,le . What would oracle have to do in response if this was in fact what actually happened . Yes. If microsoft buys salesforce, it would be a major black eye to oracle given where theyre going. Salesforce resides on an oracle database. This would be a step back for oracle in our opinion. Which makes us believe this is a game of high stakes poker. They cannot let salesforce go to microsoft without a fight. I think this is in the first, second inning of playing out. Our view is salesforce does become not just an acquisition candidate, i view this as the real deal. There is smoke and fire. Given where they are, microsoft needs to make the aggressive move here and this is it. Microsoft shares are under a little pressure. Nothing dramatic. Theyre down a little more than 1 if thats any judgment of what investors think with it. You mentioned oracle, scott. What about google . What about amazon . They have been pouring a lot of money into cloud as a growth business, something investors like. Yes, view amazons athe number three there. I say sap out, ibm out, google is a long shot. Amazon, given aws, where it would fit with benioff in that sort of strategy their focus on the cloud, the fourth Biggest Software company if it went in there. Amazon is the other potential one we could see here with oracle and microsoft being much more front and center in terms of where it would fit strategically in that cloud vision. The most important word out of this whole report is mulling. Its important to underscore that because the same report says that there are no talks ongoing and that nothing at all is imminent. So, you know maybe were putting the cart before the horse so to speak and maybe this is not as close as the market would like to believe, at least investors who are piling into salesforce with the stock up 5 . Its a good point but the one thing i will say is just like lebron wasnt going back to the cavs, in terms of the denials the last week we viewed it as noise, ultimately i give you it that there needs to be a big move made. When we look at the cloud, the golden goose is salesforce. Thats why i think all these other large tech players, microsoft, oracle amazon theyre seriously considering this as it would be competitive. If salesforce goes to anyone the other one loses and it would take a huge step back on their vision on the cloud. Speculation is heating up. Thats for sure. Danives ives, thanks for jumping on the line for this breaking news. Salesforce. Com up a little less than 5 . We have stacey wu rob morgan and our own Rick Santelli. Its great to have everybody with us today. Let me ask you first, rob. Just moving beyond the reports of this why is the market down in the manner that it is today . I think the reason for that scott, is tied to salesforce. We had basically a good labor component of the ism services report, made people feel like rates would go up sooner. Its one of those good news is bad news type things. Well see more deals like this because money is cheap right now. People are realizing the urgency that money will not be cheap for that much longer. Are rates going up too fast . Are they scaring people . I think its definitely knocking people off the fence, lets put it that way. The fed is going to be very strategic about this. Were not going to see Rick Santelli out in chicago, you are with us breaking that ism services number. Thatple comes after what we saw in the trade deficiting with, biggest trade gap in 20 years. Is it really all the rate story on better Economic News . Well i really do think a good chunk of todays ak in the equity markets was further by the notion of rates moving higher. Today is going to be very significant. We said last year 217. This could be the third settlement above that level all years. In terms of speed, there was five weeks between january 30th and march 6th when we went from the low at 1. 64 to the high yield of the year 2. 24. In terms of speed, thats not the issue. Really what most traders are most nervous about is how quickly portugal italy, france spain, how their rates reversed out all the goodwill leading up to quantitative easing and the disappointing performance after it was actually implemented. And it also makes this fridays jobs report that much more important, because if you look at the only two closes thus far, above that settlement to 2. 17 they were on friday that we had the 295,000 jobs number on march 6th and the following monday we settle at 2. 19. After that we went into a 30 session, tight range. It just makes the data from employment that much more important if rates will continue this move. I agree with rick. I personally think that rates are the story right now in the market, that all the talk about the dollar and the euro yes, its important but now it feels like rates and where theyre going to go higher have eclipsed that a bit. We spoke exclusively with Jeffrey Gundlock yesterday. I want you to hear what the double line ceo and founder had to say. Well react to it on the other side. When i look at kind of the trading pattern of the market it does look to me like the odds are better that rates really bottom in july of 2012. Twoyear bottom 2011. The rest of the curve are the 30year bottom july of 12. I got lucky and made that call one week before it happened. So the point being from gundlock is that rates have bottomed. You know jeff well. Eve talked to him a number of times as well. You follow the fixed income market as closely as anybody. What youre seeing in the action would confirm that. Twomonth high on treasury yield. Jeffrey has gotten that bond call right as you mentioned a number of times. Are you worried about higher Interest Rates . Is that what explains what youre seeing in the small caps . The yew tills are the worst performing s p group. Were seeing the higher rate trade. Banks are outperforming which is not normally what youd like to see when the dow is down 150 points. Theres a european component here. Treasuries havent been trading solely off of u. S. Fundamentals for over a year. So as we see inflation bottom in europe, thats starting to reverse some of the money flow that came in from europe out of treasuries and thats compounding things. German bunds are a leading indicator of treasuries going forward. When you look at the market amy, what do you make of it not only what were talking about here with rates but if rates start moving higher can stocks continue to go up . Well from an options perspective youre seeing a lot of this reflectioned. Youre tacking about utilities earlier. Were seeing a lot of downside puts being bought in xlu. The utilities etf, which my guess is is related to the rates concern. On the flip side ahead of payrolls were seeing bullish positioning in iwm and the russell and the small caps saying theyre anticipating something positive coming out this coming week and for next week as well. Rob . Yes, scott, i mean i think its important to note that at the end of a bull mark net stocks, stocks usually rise well into when the fed starts raising rates. We havent gotten to that irrational exuberance phase yet. You asked the question a minute ago, can stocks go up in the face of rising rates . Historically they have. I believe they will this time, too. Everybody, thank you so much. Thats a good longterm perspective there as well. Less than 45 minutes to go before the closing bell. We are seeing red across the screen with the dow down 142 points, just off the lows still under pressure. S p down more than 1 and the nasdaq bringing up the rear, down nearly 1. 5 . Up next move over Nordstrom Rack macys is muscling into the discount space with test stores slated to open this fall. Will macys backstage as theyll be called be upstaged by more entrenchd players such as tj maxx . The pros hash that out. Mylan, Electronic Arts news corp. And groupon reporting. Well have instant analysis. Well be right back on closing bell. Seven out of ten Power Outages in the us are caused by weather. But utilities can now predict where the power will go out, within a few city blocks. Working with ibm theyre combining micro weather forecasts with detailed data from local sensors. To predict where outages are likely to occur. And send crews exactly where theyre needed, when theyre needed. Ibm analytics from the internet of things is making energy smarter every day. Well it was just a day ago that the s p was flirting with a record high. Not the case today. Here we go with the nasdaq 100 heat map. It is almost all red as you can see. As for the dow, the dow is down 150 points. Maybe its rising rates today. 2. 18 on tenyear. Maybe its some concerns about greece. Maybe its oil prices getting over 60 bucks, Mortgage Rates creeping up. A lot for investors. Maybe it was the fact that it was negative growth in the First Quarter. Trade data was weak. Ism nonmanufacturing was strong. Theres a lot of make of it what you will. Art cashin came over here and told us the real selling us is happening in the small caps. Tracking specific movers in the final hour of trading. Dom . Youre telling me there are crosscurrents in the marketplace, all kinds of stuff going on these days. The movers are listed individually here. It was a prior outperform. Theyve more than doubled their price target to 722 a share. Earnings potential based on a growing portfolio of original content. Those shares up by 2 . On the earnings front, sprint saw a loss of 224 million in its fiscal Fourth Quarter due to heavy spending on advertising and promotion. Those shares down by 4 . Then in retail macys testing a socalled offprice store Business Concept with four pilot locations in the new york city area. Theyre going to be called macys backstage. The stores will sell clearance goods from macys stores and discounted items from other fashion brands. Merchandise will be 20 to 80 off Retail Prices. You can see those shares down by 1 . Still an interesting concept. Mace says getting into the offprice like Nordstrom Rack saks off fifth. The question is what took so long . I like this story, macys backstage, four offpriced stores set to open this fall in select new york locations. The pilot stores will include clearance items as well as free wifi and more spacious fitting rooms. Okay. For more on, if this strategy will pay off for the retail joint, lets bring in cnbc retail analyst, Stacey Widlitz and james romelli. Look at Nordstrom Rack. A more premium brand, nordstrom. Off fifth, saks is a more premium brand. Arent things on sale at macys or lower priced . Well scott you hit it on the head. Thats the big question mark here, yes, macys does need to do something to get its top line growing, but they are not really a luxury a Department Store thats going to be able to have the duo brands offprice and full price. I think what theyre going for here is theyre going to be more of a tj maxx. The question is macys is always on sale. They always lead black friday first. How different is this off price really going to look versus their fullline brand . Im wondering about the name, actually. Macys back stage. Does it cheapen the brand at all or the Brand Perception or is it a positive using the macys name . Well i think its a positive using the mazee inging the macys name. Theyre trying to draw in a new consumer but get current consumers to crush up a little bit, maybe lower income consumer that shops a little bit at macys that might be more inclined to identify with the brand and expand their cart online at both brands. What theyre really trying to do is capture the entrylevel consumer all the way up to bloomingdales and casting a wider net. Where does this leave Jcpenney Stacey . You know i think macys going into this business you can never underestimate macys here. So they are testing this. They will get it right. If history tells us anything about Terry Lundgren and his execution, its a risk for everybody, for tj maxx and ross stores and for jcpenney anybody whos in the apparel space, the home space for that lowend consumer. Bottom line what do investors make of this . Investors who have liked Terry Lundgrens style and macys and how its dealing with the restructuring and challenged retail environment, does this move the needle at all . And can it be a Growth Engine for the company . The company did comment on last Conference Call that they were coming out, looking at International Expansion as well as the soft price. Today they made it official. The stock is flat for the year. The streets not overly excited about this. You have to consider yes, offprice has been the darling of retail for the past five years but this is a really late start here. So certainly tjx and ross stores comps are low Market Action<\/a> right now. Red arrows across the screen. S p down more than 1 . The dow down more than 150 points. The nasdaq down 1. 5 . Clearly stocks have broken the twoday winning streak. I want to take you to a live shot of post six on the floor of the New York Stock Exchange<\/a>. Theres can kenny polcari. You have a sizable crowd developing there. Thats where salesforce trades. There was a rumor in the market for the last week or so. People speculated on names like microsoft, oracle and ibm. Jim cramer said at the time this was all going down its got to be microsoft, its got to be microsoft. If it was oracle it wouldnt be a good fit. Culturally there was a difference between those two. We knew it had to be Something Big<\/a> with the amount of fire power that could handle this multibillion dollar deal which could be north of 50 billion if it ever did happen. Well get a reporter in the midst of that mix over there right now. You can hear behind us a boisterous crowd as theyre screaming prices of sales force. What was that . I think we have josh lipton with us live with a little more color on salesforce. Com. Josh . I heard you talking about microsoft. According to the bloomberg reports said to be weighing a bid for salesforce. Com. This is not the same company. It was not microsoft that made these initial offers. Thats what were learning. Remember, of course we had this news last week some arguing when they first heard about this that microsoft did make some sense. I was at the Microsoft Developers<\/a> conference. Marc benioff in the audience listening to nadellas keynote. We also know nadella has made cloud front and foulke kus part of microsofts strategy. Its on a 6 billion run rate. Interesting news here guys. Back to you. No doubt. There was talk about the size of a potential deal that it would be the Biggest Technology<\/a> deal of not only this year but i believe in some time maybe in the lives of salesforce. People were throwing around a 50 billion, 60 billion number at the time. The stock has resumed trading now after that halt. It is up by 5 . Josh are you still with us . There are only a handful as weve been reporting, of companies that could actually make this deal happen. Oracle was one of them microsoft was another name that came up. Just in terms of the sheer size. Yes, you were looking, according to analysts at evercore, they crunched the numbers, you were looking at anywhere between 55 billion, maybe as high as 64 billion. To your point, sara there are very few companies that could do that kind of deal. Oracle was a name that was put out there. If ellisons company made that deal, they could be king of the cloud. It was tough for me to see that. Im thinking of the most kind way to put the relationship between ellison and benioff. Its colorful. Those two constantly go after each other. Theres a history. Certainly a rich history. Ibm was another one you heard about. Ibm certain challenges there, especially when it comes to dollars and cents, ibm has 25 billion in cash on the balance sheet, 35 billion longterm debt. Microsoft is a name analysts quickly started talking about. Thank you so much josh lipton. Well stay on top of this story. Any more developments well gef get them to you as soon as possible. The crowd over there is gone. Salesforce has resumed trading. A little drama. Just a little to start the show. Less than when the first reports hit and it was like chaos. A mad house down here. Lets do our closing bell exchange. Okay. Now im told we have dan ives on the phone. Yes im here. Hey, dan, does this make sense if it is in fact microsoft . This makes perfect sense. That little da needs to make an guessive move on the cloud. This is really where hes bet the next five to ten years for microsoft. I would view microsoft or salesforce as checking all the boxes, making a ton of strategic sense. Continue to think oracle is involved here where this also would fit in in terms of their strategy on the cloud. This should be nadellas stamp on the cloud side in terms of going after salesforce. How do you even big first of all, the price is steep. It would be steep. It would be a ginormous deal. How do you contemplate integrating a company with at least 16,000 employees into microsoft . Yes, but salesforce is its own machine at this point. I would kind of view it as being run as part of the Cloud Business<\/a>. If i look at microsoft and the direction theyre heading, they needed to make a big move. This is one that would fit that strategy. Im not worried about integration given that i see minimal overlap. In terms of the price paid microsoft has an option here do they buy a country or do they buy a company . They have so much cash and they need to make the aggressive move, especially with others looking at salesforce. They cannot stand by. I view this as a golden opportunity for nadella. I think this just shows its not microsoft, its aggressive and they need to make a move in the cloud. This would fit like a glove in our opinion. Ellison and benioff have sparred publicly over the last couple of years. If it is microsoft, what would it mean to oh,le . What would oracle have to do in response if this was in fact what actually happened . Yes. If microsoft buys salesforce, it would be a major black eye to oracle given where theyre going. Salesforce resides on an oracle database. This would be a step back for oracle in our opinion. Which makes us believe this is a game of high stakes poker. They cannot let salesforce go to microsoft without a fight. I think this is in the first, second inning of playing out. Our view is salesforce does become not just an acquisition candidate, i view this as the real deal. There is smoke and fire. Given where they are, microsoft needs to make the aggressive move here and this is it. Microsoft shares are under a little pressure. Nothing dramatic. Theyre down a little more than 1 if thats any judgment of what investors think with it. You mentioned oracle, scott. What about google . What about amazon . They have been pouring a lot of money into cloud as a growth business, something investors like. Yes, view amazons athe number three there. I say sap out, ibm out, google is a long shot. Amazon, given aws, where it would fit with benioff in that sort of strategy their focus on the cloud, the fourth Biggest Software<\/a> company if it went in there. Amazon is the other potential one we could see here with oracle and microsoft being much more front and center in terms of where it would fit strategically in that cloud vision. The most important word out of this whole report is mulling. Its important to underscore that because the same report says that there are no talks ongoing and that nothing at all is imminent. So, you know maybe were putting the cart before the horse so to speak and maybe this is not as close as the market would like to believe, at least investors who are piling into salesforce with the stock up 5 . Its a good point but the one thing i will say is just like lebron wasnt going back to the cavs, in terms of the denials the last week we viewed it as noise, ultimately i give you it that there needs to be a big move made. When we look at the cloud, the golden goose is salesforce. Thats why i think all these other large tech players, microsoft, oracle amazon theyre seriously considering this as it would be competitive. If salesforce goes to anyone the other one loses and it would take a huge step back on their vision on the cloud. Speculation is heating up. Thats for sure. Danives ives, thanks for jumping on the line for this breaking news. Salesforce. Com up a little less than 5 . We have stacey wu rob morgan and our own Rick Santelli<\/a>. Its great to have everybody with us today. Let me ask you first, rob. Just moving beyond the reports of this why is the market down in the manner that it is today . I think the reason for that scott, is tied to salesforce. We had basically a good labor component of the ism services report, made people feel like rates would go up sooner. Its one of those good news is bad news type things. Well see more deals like this because money is cheap right now. People are realizing the urgency that money will not be cheap for that much longer. Are rates going up too fast . Are they scaring people . I think its definitely knocking people off the fence, lets put it that way. The fed is going to be very strategic about this. Were not going to see Rick Santelli<\/a> out in chicago, you are with us breaking that ism services number. Thatple comes after what we saw in the trade deficiting with, biggest trade gap in 20 years. Is it really all the rate story on better Economic News<\/a> . Well i really do think a good chunk of todays ak in the equity markets was further by the notion of rates moving higher. Today is going to be very significant. We said last year 217. This could be the third settlement above that level all years. In terms of speed, there was five weeks between january 30th and march 6th when we went from the low at 1. 64 to the high yield of the year 2. 24. In terms of speed, thats not the issue. Really what most traders are most nervous about is how quickly portugal italy, france spain, how their rates reversed out all the goodwill leading up to quantitative easing and the disappointing performance after it was actually implemented. And it also makes this fridays jobs report that much more important, because if you look at the only two closes thus far, above that settlement to 2. 17 they were on friday that we had the 295,000 jobs number on march 6th and the following monday we settle at 2. 19. After that we went into a 30 session, tight range. It just makes the data from employment that much more important if rates will continue this move. I agree with rick. I personally think that rates are the story right now in the market, that all the talk about the dollar and the euro yes, its important but now it feels like rates and where theyre going to go higher have eclipsed that a bit. We spoke exclusively with Jeffrey Gundlock<\/a> yesterday. I want you to hear what the double line ceo and founder had to say. Well react to it on the other side. When i look at kind of the trading pattern of the market it does look to me like the odds are better that rates really bottom in july of 2012. Twoyear bottom 2011. The rest of the curve are the 30year bottom july of 12. I got lucky and made that call one week before it happened. So the point being from gundlock is that rates have bottomed. You know jeff well. Eve talked to him a number of times as well. You follow the fixed income market as closely as anybody. What youre seeing in the action would confirm that. Twomonth high on treasury yield. Jeffrey has gotten that bond call right as you mentioned a number of times. Are you worried about higher Interest Rates<\/a> . Is that what explains what youre seeing in the small caps . The yew tills are the worst performing s p group. Were seeing the higher rate trade. Banks are outperforming which is not normally what youd like to see when the dow is down 150 points. Theres a european component here. Treasuries havent been trading solely off of u. S. Fundamentals for over a year. So as we see inflation bottom in europe, thats starting to reverse some of the money flow that came in from europe out of treasuries and thats compounding things. German bunds are a leading indicator of treasuries going forward. When you look at the market amy, what do you make of it not only what were talking about here with rates but if rates start moving higher can stocks continue to go up . Well from an options perspective youre seeing a lot of this reflectioned. Youre tacking about utilities earlier. Were seeing a lot of downside puts being bought in xlu. The utilities etf, which my guess is is related to the rates concern. On the flip side ahead of payrolls were seeing bullish positioning in iwm and the russell and the small caps saying theyre anticipating something positive coming out this coming week and for next week as well. Rob . Yes, scott, i mean i think its important to note that at the end of a bull mark net stocks, stocks usually rise well into when the fed starts raising rates. We havent gotten to that irrational exuberance phase yet. You asked the question a minute ago, can stocks go up in the face of rising rates . Historically they have. I believe they will this time, too. Everybody, thank you so much. Thats a good longterm perspective there as well. Less than 45 minutes to go before the closing bell. We are seeing red across the screen with the dow down 142 points, just off the lows still under pressure. S p down more than 1 and the nasdaq bringing up the rear, down nearly 1. 5 . Up next move over Nordstrom Rack<\/a> macys is muscling into the discount space with test stores slated to open this fall. Will macys backstage as theyll be called be upstaged by more entrenchd players such as tj maxx . The pros hash that out. Mylan, Electronic Arts<\/a> news corp. And groupon reporting. Well have instant analysis. Well be right back on closing bell. Seven out of ten Power Outages<\/a> in the us are caused by weather. But utilities can now predict where the power will go out, within a few city blocks. Working with ibm theyre combining micro weather forecasts with detailed data from local sensors. To predict where outages are likely to occur. And send crews exactly where theyre needed, when theyre needed. Ibm analytics from the internet of things is making energy smarter every day. Well it was just a day ago that the s p was flirting with a record high. Not the case today. Here we go with the nasdaq 100 heat map. It is almost all red as you can see. As for the dow, the dow is down 150 points. Maybe its rising rates today. 2. 18 on tenyear. Maybe its some concerns about greece. Maybe its oil prices getting over 60 bucks, Mortgage Rates<\/a> creeping up. A lot for investors. Maybe it was the fact that it was negative growth in the First Quarter<\/a>. Trade data was weak. Ism nonmanufacturing was strong. Theres a lot of make of it what you will. Art cashin came over here and told us the real selling us is happening in the small caps. Tracking specific movers in the final hour of trading. Dom . Youre telling me there are crosscurrents in the marketplace, all kinds of stuff going on these days. The movers are listed individually here. It was a prior outperform. Theyve more than doubled their price target to 722 a share. Earnings potential based on a growing portfolio of original content. Those shares up by 2 . On the earnings front, sprint saw a loss of 224 million in its fiscal Fourth Quarter<\/a> due to heavy spending on advertising and promotion. Those shares down by 4 . Then in retail macys testing a socalled offprice store Business Concept<\/a> with four pilot locations in the new york city area. Theyre going to be called macys backstage. The stores will sell clearance goods from macys stores and discounted items from other fashion brands. Merchandise will be 20 to 80 off Retail Prices<\/a>. You can see those shares down by 1 . Still an interesting concept. Mace says getting into the offprice like Nordstrom Rack<\/a> saks off fifth. The question is what took so long . I like this story, macys backstage, four offpriced stores set to open this fall in select new york locations. The pilot stores will include clearance items as well as free wifi and more spacious fitting rooms. Okay. For more on, if this strategy will pay off for the retail joint, lets bring in cnbc retail analyst, Stacey Widlitz<\/a> and james romelli. Look at Nordstrom Rack<\/a>. A more premium brand, nordstrom. Off fifth, saks is a more premium brand. Arent things on sale at macys or lower priced . Well scott you hit it on the head. Thats the big question mark here, yes, macys does need to do something to get its top line growing, but they are not really a luxury a Department Store<\/a> thats going to be able to have the duo brands offprice and full price. I think what theyre going for here is theyre going to be more of a tj maxx. The question is macys is always on sale. They always lead black friday first. How different is this off price really going to look versus their fullline brand . Im wondering about the name, actually. Macys back stage. Does it cheapen the brand at all or the Brand Perception<\/a> or is it a positive using the macys name . Well i think its a positive using the mazee inging the macys name. Theyre trying to draw in a new consumer but get current consumers to crush up a little bit, maybe lower income consumer that shops a little bit at macys that might be more inclined to identify with the brand and expand their cart online at both brands. What theyre really trying to do is capture the entrylevel consumer all the way up to bloomingdales and casting a wider net. Where does this leave Jcpenney Stacey<\/a> . You know i think macys going into this business you can never underestimate macys here. So they are testing this. They will get it right. If history tells us anything about Terry Lundgren<\/a> and his execution, its a risk for everybody, for tj maxx and ross stores and for jcpenney anybody whos in the apparel space, the home space for that lowend consumer. Bottom line what do investors make of this . Investors who have liked Terry Lundgren<\/a>s style and macys and how its dealing with the restructuring and challenged retail environment, does this move the needle at all . And can it be a Growth Engine<\/a> for the company . The company did comment on last Conference Call<\/a> that they were coming out, looking at International Expansion<\/a> as well as the soft price. Today they made it official. The stock is flat for the year. The streets not overly excited about this. You have to consider yes, offprice has been the darling of retail for the past five years but this is a really late start here. So certainly tjx and ross stores comps are low Single Digits<\/a>. Youre just getting into the game a little late here. Thats why the street you know throw in a bit of a distraction from the fullline business and thats why the stock is flat to date. If theyre going to be selling clothes at 80 off Retail Prices<\/a> what is the margin on that . Low. Yes, its low, yes, scott, exactly. Ill save you the answer. Yes, you got it. Theyre buying in from vendors that are producing specific goods for the offprice channel. So whale you might think theyre zero to negative theyre actually made specifically for the channel. Yes, good point, which Nordstrom Rack<\/a> does as well. Stacey widlitz, always good to get your insight. Nasdaq s p, dow, all lower. Top executives from Constellation Brands<\/a> and panera bread will be speaking with us. Well talk about the state of the consumer appetite for spending, where theyre seeing the fastest growth and of course some of the Health Trends<\/a> that are popping up. Up next as the field of president ial candidates gets more crowded, wait till you hear whos already leading the polls. music plays throughout the pursuit of healthier. It begins from the second were born. After all, healthier doesnt happen all by itself. It needs to be earned. Every day. From the smallest detail to the boldest leap. Healthier means using wellness to keep away illness. Knowing a prescription is way more than the pills. And believing that a single life can be made better by millions of others. Healthier takes somebody who can power modern health care. By connecting every single part of it. Realizing cold hard data can inspire warmth and compassion. And that when Technology Meets<\/a> expertise. Everything is possible. For as long as the world keeps on searching for healthier. Were here to make healthier happen. Optum. Healthier is here. Were back another day, another candidate jumping into the 2016 president ial race. John harwood has that story, plus with results of the new nbc wall street journal poll showing whos leading the pack right now. John . Exactly guys. There are six republican president ial candidates who have declared their candidacy that is. Mike huckabee, the former arkansas governor jumped in today, just a day after ben carson and Carly Fiorina<\/a> did, joining rand Paul Ted Cruz<\/a> and marco rubio. Mike huckabee ran a Strong Campaign<\/a> in 2008. Hes not expected to do as well this time. If you look at our nbc wall street journal poll hes at 5 tied with Chris Christie<\/a> the governor of new jersey whos been wounded. Jeb bush is leading the republican race just with 23 of the vote. Marco rubio is second at 18. Scott walker the governor of wisconsin is third with 14. The democratic side which only has two candidates one huge one in Hillary Clinton<\/a> and one minor one in Bernie Sanders<\/a> is very stable despite the recent disclosures about Hillary Clinton<\/a>s foundations. When we look at how democrats regard her in the race eight in ten believe shes effective at getting things done and knowledgeable and experienced enough at the job. She does have only 5 of democrats rating her highly for being honest and straightforward. That signals a weakness for her but not one thats shaking her position in the democratic race. And finally, one thing that is helping democrats is a gradual improvement in the job Approval Ratings<\/a> for president obama. He is now at 48 approval 47 disapproval. Now, its only one point in black but its the first time guys, in two years that more people have said they approve of the job president obama is doing than disapprove of it. That shows a slight rising tide that will benefit democrats in 2016 if it continues. Interesting to see that improvement. Thank you very much john harwood. Its time now for a cnbc news update with sue herera. Heres whats happening at this hour. At a rose garden ceremony this afternoon, president obama announcing his picks for chairman and vice chairman of the joint chiefs of staff. He nominated joe dunn for the top spot and general paul silva as vicechairman. The Senate Committee<\/a> on energy and Natural Resources<\/a> holding a hearing this morning on the federal governments role in wildfire management. And the impact of fires on communities. Theyre looking for ways to prevent massive forest fires and better prepare for this years upcoming fire season. Dramatic video of a Mediterranean Sea<\/a> rescue. It Shows Migrants<\/a> on a sinking rubber boat trying to board a cargo ship that came to their aid. Five bodies were recovered and survivors reported many others drown. The footage was obtained from the Associated Press<\/a> from a crew member of that cargo ship. A Funeral Service<\/a> is being held in palo alto for Dave Goldberg<\/a> who died friday after a jim accident at a luxury beach villa in mexico. He was the husband of facebook executive sheryl sandberg. They issued a statement extending its deepest condolences to the goldbergs family and friends as it works with local authorities. That is your cnbc update for this hour. More closing bell after the break. Organic food stocks schwab can help. With a trading specialist just a tap away. Whats on your mind lisa . Id like to talk about a trade idea. Lets hear it. [ male announcer ] see how schwab can help light a way forward. So you can make your move wherever you are. And start working on your next big idea. Honey, we need to talk. We do . I took the trash out. I know. And thank you so much for that. I think we should get a Medicare Supplement<\/a> insurance plan. Right now . [ male announcer ] whether youre new to medicare or not, you may know it only covers about 80 of your part b medical expenses. Its up to you to pay the difference. So think about an aarp Medicare Supplement<\/a> insurance plan, insured by unitedhealthcare insurance company. Like all standardized Medicare Supplement<\/a> insurance plans they help cover some of what medicare doesnt pay and could really save you in outofpocket medical costs. Call now. With a Medicare Supplement<\/a> plan, youll be able to stay with your doctor. Oh, you know, i love that guy. Mmhmm. [ male announcer ] these types of plans let you visit any doctor or hospital that accepts medicare patients. And there are no networks. You do your pushups today . Prepare to be amazed. [ male announcer ] dont wait. Call today to request your free decision guide and find the aarp Medicare Supplement<\/a> plan to go the distance with you. Go long. With earnings season more than threequarters over has Corporate America<\/a> delivered . Dominick which you runs through the earnings score card back at cnbc headquarters. Dom . All right. Sara, scott, they have delivered although we got to say, its probably off lowered expectations. That low bar yes, most companies in the s p did manage to hop right over it. We have 395 countries in the s p 500 reporting. Just about four of the five companies have reported this season. Thats not counting the ones from this afternoon. 68 have beaten analyst estimates. Thats a good number again, off lowered expectations. 10 have met and about one out of every five stocks have missed analyst expectations. Thats how the overall earnings picture is looking right now. Take a look at some of the winners in terms of earnings per share growth we knew it was going to be health care and financials that would help lead the way higher in terms of Earnings Growth<\/a>. Health care is through that 80 move here in terms of the number of companies reporting. Health care has shown 17 Earnings Growth<\/a>. Thats a good sign. Theyre the best performers out there. We were only expecting 7 growth at the beginning of the season. If you look at energy down 59 , thats slightly lyly better than what we were expecting. If you look at the overall sales picture, health care again, showing 10 sales growth slightly better than what we were expecting early on in the season. Energy, the worst performing one, down 34 overall. Remember sara, scott, the point here we were expecting at the beginning of earnings season 3 earnings declines. Right now if everything works out the way it should be from expectationswise, guys we will show about a 2 growth rate on earnings. Back over to you. All about the expectations. Thank you, dom. Lagging revenues giving investors pause this earnings cycle. Are u. S. Equities still the biggest and best place to be with lack of Revenue Growth<\/a> . Joining us now nick rate and john manley. Good to have you. John, you heard dom which you go through the numbers. Is the u. S. Still the place to be . Its a place to be. I suppose europes more of a change. That uld could be more that could be more interesting. The fed is like a big may west on the stock market. What if were at the top of the cycle as some have suggested. This would be the weakest toppive ever saw in my life if we are. Theres no vigor no signs of pricing power. Its one thing for the economy and the stock market to be disconnected in terms of the action but what about the stock market and earnings . The fact that were in this earnings environment where they are not growing and half of companies are missing on revenues . How can the stock market keep going up on that . The earnings are the earnings where they are. Sometimes the market focuses on earnings that are happening right now, circa 2000. We get a sense this is as bad as its going to get or close to it, well look out six to nine months and see better comparisons. Nick, whats the big takeaway . Yes, 68 have beaten but expectations couldnt have been lower, really, coming in. Thats exactly right. If you took the expectations at the beginning of the year and based it on the actuals that companies were reporting with dominick reported 70 are beating. If we use the estimates at the beginning of the year only 40 of the companies would be beating. Thats not enough reason to be bearish because of the Way Companies<\/a> low ball it. The Second Quarter<\/a> estimates, were low going into earnings season and theyre going lower. So are the third and Fourth Quarter<\/a> numbers. The future expectations are going lower as well. Combine that with the Sales Numbers<\/a> that have been a lot of misses and weve not seen this market reset to reflect a lower growth, that is not only expected, that is actually occurring. The Earnings Growth<\/a> in the First Quarter<\/a> is about half the rate of growth as what Companies Reported<\/a> in the Fourth Quarter<\/a>. Growth is slow. What if the dollar is correcting at a time when the economy could be strengthening . Thats quite possible. A part of the weakness in First Quarter<\/a> numbers is because of the strength of the dollar. Of course. Which has been out since midmarch. That will be less of a head wind as we go forward. The reality is if the dollar weakens a little bit, the fed may raise rates. What will that do to expectations for Home Builders<\/a> and others . Also theyre at the tail wind of Lower Energy Prices<\/a> never worked for helping out raising for the consumer disdiscretion err discretionary sector. John . I still want to own u. S. Stocks. Is this earnings dependent . No but theyre economy dependent. Thanks to you as well john and income. 20 minutes to go before the bell rings on the floor of the New York Stock Exchange<\/a>. The dow coming off its worst levels, still down 1. 14. Heres the s p down 1 . The nasdaq is getting hit pretty hard today. Back under 5,000, a loss of 1. 3 . Utilities and telecom getting slammed the hardest. Up next what better way to mark sinkocinco de mayo. Well talk about constellation, the cfohere at the New York Stock Exchange<\/a>. And theres music. Here at the Td Ameritrade<\/a> trader group, they work all the time. Sup jj . Working hard . Working 24 7 on mobile trader, rated 1 trading app in the app store. It lets you trade stocks options, futures. Even advanced orders. And it offers more charts than a lot of the other competitors do in desktop. You work so late. I guess you dont see your family very much . I see them all the time. Did you finish your derivative pricing model, honey . For all the confidence you need. Td ameritrade. You got this. Being a keen observer of the world has gotten you far but what if you could see more of what you wanted to know . With fidelitys new active trader pro investing platform, the information thats important to you is all in one place, so finding more insight is easier. Its your idea powered by active trader pro. Another way fidelity gives you a more powerful investing experience. Call our specialists today to get up and running. Theres some facts about seaworld wed like you to know. We dont collect killer whales from the wild. And havent for 35 years. With the hightest standard of animal care in the world, our whales are healthy. Theyre thriving. I wouldnt work here if they werent. And Government Research<\/a> shows they live just as long as whales in the wild. Caring for these whales, we have a great responsibility to get that right. And we take it very seriously. Because we love them. And we know you love them too. [ girl ] my mom, she makes underwater fans that are powered by the moon. [ birds squawking ] my mom makes airplane engines that can talk. [ birds squawking ] my mom makes hospitals you can hold in your hand. My mom can print Amazing Things<\/a> right from her computer. [ whirring ] [ train whistle blows ] my mom makes trains that are friends with trees. [ train whistle blows ] my mom works at ge. It issome smd. Our next guest sells many of the alcoholic products that will be consumed by people today across the country. He sure does. Constellation brands one of the leading beer wine and spirits providers known for brands such as corona modelo. Good to see you. Good to be here. Its obviously a big day. How big relative to lets say, a big sporting event for example . Cinko, we look forward to cinco de mayo. It kicks off what we call our 120 days of beer consumption in the u. S. It really gets us off can be constellation off on a positive bent because we kind of own cinco. Its a mexican holiday. We have our guys out traipsing the market throughout the United States<\/a> making sure everything is going as well as we want it to. Cocacola considers mexican coke a high business and they call it a craft drink. What are you seeing in terms of growth rates. We dont consider ourselves craft but were amongst the growers in the beer industry. Craft is a grower and ouren brads are also growers. And the beer category in general in the u. S. Is kind of flat. To your other question, were growing at a multiple of the total category. Last year the beer category grew sales about 3 . We grew our sales 12 . Thats quite an outperformance. We were just looking at video of a box of corona cans which the advertising around the bottles has been incredibly effective, obviously by virtue of the numbers youve seen. I guess its obvious why youre doing the cans. You trail your competitors in terms of numbers. I think your competition is 12 to 18 on average can and corona, 2 . That would suggest thats an obvious place to go. Do Consumers Want<\/a> to drink corona out of a can when its iconic with a lime in the top of the bottle. We think the tune is the enormous mostly because of occasion base. Theres certain places you wont bring a bottle, ball games, Public Holidays<\/a> in parks, things like that. We think cans are perfect for that. Theyre lighter to carry. Theyre greener than bottles. Youll see the industry highend beer is shifting over to cans from bottles. We think thats in our favor. What kind of number what do you think is realistic . Generally, were starting out very low, right . Our competitors in the high end are generally 15 to 18 their sales mix is in cans. Thats what were shooting for from a very low base of 2 . You Just Announced<\/a> paying a dividend. Does that mean we should roll out acquisitions potentially in the wine Business People<\/a> are looking at . Thats a great question sara. Last year when i was on the call one of the things bill called out with you guys we didnt have a dividend. Since then we have instituted a dividend. We think that dividend has plenty of room to grow. But because both are wine and beer are such tremendous cash generators, we can buy back stock and we can do tuck in m a, as things become available. Where are you in the economy at large . Do you feel pretty good . We feel very good. Our products are doing very well. The wine category in general is growing 5 3rers a year. Thats strong growth for a u. S. Consumer product category. Our beer business is growing double digits. Last year it grew 12 sales. We just acquired a highend tequila, casa noble. It goes with. Are people still putting the corona bottles upside down in the margaritas . Thats still a thing. What do you call that . The 7 ounce bottles which we call the coranitas. You brought the mariachis, the beer. Ill take mine chilled. You got it. Ill take mine in a margarita. Happy cinco de mayo. Thank you. Thanks for coming in. Ten minutes to go before we ring the bell here. 12 minutes. 12 minutes. Whos counting . Scotts getting sassy. Plenty more to come on the closing bell. We have earnings mylan, Electronic Arts<\/a> groupon, all coming your way, plus paneras ceo talking up a big menu change. Investors not seeming too impressed. We also have brad garrett launching a Small Business<\/a> in vegas. You may raise him, everyone loves raymond. Hell be here at the New York Stock Exchange<\/a> to explain why hes getting into business. Dont touch that remote, back on closing bell. A wandering eye. I mean, come on. National gives me the control to choose any car in the aisle i want. I could choose you. Or i could choose her if i like her more. And i do. Oh, the silent treatment. Real mature. So you wanna get out of here . Go national. Go like a pro. At chase, we celebrate Small Business<\/a>es every day through programs like mission main street grants. Last years grant recipients are achieving Amazing Things<\/a>. Carving a name for myself and creating local jobs. Creating more programs for these little bookworms. Bringing a taste of louisiana to the world. At chase, were proud to support our grant recipients and Small Business<\/a>es like yours. So you can take the next big step. The markets are down. The dow is off by 140. Record close. And a bit of a reversal to say the least. Maybe theres fear about rates rising. The tenyear got up to 220 today. Tenmonth high. Twomonth high. Excuse me. Joining us we have kathy wood and david lafferty. Is that what is going on here is it a fear of rising Interest Rates<\/a> . Yes i think the deflation trade looks like it might be going off at least temporarily. Weve seen rates back up in europe a little bit. And that seems to be taking a little bit of the risk premium out of the market today. Kathy, what youre seeing is these sectors get beat up like biotech. Yes. And some of the higher flyers. For a longTerm Investor<\/a> what do you do with that . Its one of the most beloved, its where the m a action is. It had been on quite a run as people were worried about European Growth<\/a> and as Interest Rates<\/a> remained low. You have a backup in Interest Rates<\/a>, more of a cyclical tilt to the market. I think people see Wage Inflation<\/a> now and buffett talking about the end of the bond bull market. A lot of these things including europe coming together at the same time. Everybody is getting negative on bonds. Not to mention high yield. You have whether its icon gun block. Thats a concern that the high yield market is in their words, dangerous. If Interest Rates<\/a> start going up because the fed will tighten, high yield shouldnt get destroyed. A good economy is good for high yield. Were still at a positive place in the earnings sike. We actually think places like high yield and bank loans to a greater degree will be more defensive when rates start to back up. So right now, its impossible to find yield out there anywhere for people trying to make their earnings number. You need a little bit of coupen in there. Nothing in the market is cheap. Across the bond market but high yield seems to be able to hold in a little bit as long as earnings keep moving up. Oil got back above 60 a barrel, first time weve seen that since last december. Weve sean a run up in energy names in april but are they still cheap . Is that where the value is . Especially as we start to see rotations in biotechs and some of the higher multiple names. I think energy is still a good place to find value. We see this in every cycle. When oil sells off dramatically the most levered players always get taken out. Theres always going to be credit risk there when the price of oil falls 40 , 50 . When if you have good security selection, theres value both on the equity and the fixed income side in energy. Is june off the table for the fed or no . I dont think its off the table because i think those the employment cost index rang a ball. Its up 2. 6 yearover yearoveryear. I think well Start Talking<\/a> about shortages. It would take two really good employment numbers with Hourly Earnings<\/a> gains in there. Its not off the table. Its unlikely but its not off the table. All right. Up next guess where im going . To the floor. For . To the mariachien bad. For . The closing countdown. Youre good. Youre good. Then youll be coming back here. Well be celebrating. And we have an earningspalooza. Mylan the only gainer in terms of the earnings mix at this hour. Youre watching cnbc. Stay right here on closing bell, first in business worldwide. The network that monitors her health. The secure Cloud Services<\/a> that store her genetic data. The servers and software on a mission to find the perfect match. And the mom who gets to hear her daughters heart beat once again. Were helping organizations transform the way they work so they can transform the lives of the people they serve. Closing countdown time. Were back down on the floor of the New York Stock Exchange<\/a>. Not a pretty picture on wall street today. Youve got the dow down 136 points. Really accelerating losses throughout the day. We have come off the worst levels, however. Ill call your attention to the nasdaq at the bottom. A loss of 1. 5 . Below 5,000 today, the nasdaq. The most interesting story is the movement were starting to see in Interest Rates<\/a>. Weve heard about Mortgage Rates<\/a> creeping up. Theres the tenyear. Actually this is the ten knife year note yield pulling off a little bit from the highs of the day. But certainly a story today as bob pisani has been following throughout the day because the ripple effects of this on what youre watching all day, those are the stocks most sensitive. Im calling a little bit of a hisscy fit. Look at reits, for example, utilities. All that are getting hit right now. I want to update on salesforce. Salesforce has come out said theyre not commenting on rumors about any possible takeover. We were reporting about a possible story on microsoft, might be interested in it. It was halted briefly in the middle of the day. I just want to point out other stocks like net suite in that space moved on this. They could be potential targets. Oracle has a potential interest in net suite. A lot of stuff is moving around. If this Interest Rate<\/a> story has legs, it will happen in the next few days with the nonfarm payrolls. Second hour of the closing bell in five sections. Ill make my way back up there with sara. Im sara eisen in today for kelly evans. Lets take a look at how we are finishing the day on wall street. Breaking that twoday winning streak. The s p 500 settling down 25 points, more than 1 . The dow settling down 142 points and the nasdaq was the laggard pretty much all day, down at the low, 1. 55 . The mariachi banned is here at the New York Stock Exchange<\/a> performing in honor of cinco de mayo. Its a festive day down here. Joining todays panel, Sharon Epperson<\/a> along with kayla tausche. Also fast money trader guy adami. Youre missing the fun and the music down here. Tell us what happened in todays session. Was it fear of higher Interest Rates<\/a> as we saw the tenyear yield lead to a tenmonth high . It started overnight. Theres more increased fears. You made the point about our bond yields here. Look at what the tlt did today, had a big flush to the downside went positive today, effect ofly closed unchanged. I think its a big reversal. I do think rates are headed back lower and if youre looking lower, we basically touched that today. I take some encouragement out of that. I also have to point out this this is a theme ive been on for a while. The weakness in transports tonight. The iyt cant get out of its own way and the russell, the iwm to me closed lower at a critical level of 1. 21. Those are things worth watching still. You have been on that trend of following transport which is is interesting in light of a mixed batch of economic data. You nailed that closing countdown. Thats what i do, sara. Go to the floor, talk about the market, bring in bob and then jone you ladies on the set. Kayla . I think you cant ignore in the move in Interest Rates<\/a>. I think the Banking Sector<\/a> has been waiting for the rates to move up or the yields to move up so their Business Model<\/a> becomes more profitable. There does seem to be a sense, sara sara, that you cant take the market on a sessionbysession basis. Most of the strategists have their targets for the most of this year. It did seem like wed see a lot of volatility in between. Were getting used to that at this point. Yes, thats a longterm view. Thats where you are, right . Definitely looking at the long term. It feels like were being serenaded on a down day for the market. Looking at oil closing today above 66 a barrel and that what that means for gasoline prices and potential for the risk ahead, i think thats what a lot of Retail Investors<\/a> are looking at now. Prices have been rising just as we get into the summer driving season. If this continues, this is something that will take perhaps income away from those who dont have much Discretionary Income<\/a> to put in the market. I thought guy was going to mention the result of the hockey game last night. Lets talk about it right now, brother. Dont start clucking about the caps. Its 21. If i were you id be happy where you are. Lets go quiet into the sunset. Okay, my man. We will see. I do want to pick up on something you said guy, you think rates will actually go lower. I do. Why do you think that . Ive thought that for a while. Ive been saying it for a long time. Do i believe were in this deflationary period. Yes, oil has bounced. I think the fed showed their hand back in april. Sara had a great piece on cnbc. Com. They are they were concerned about the rally in the dollar. I think they needed to talk the dollar down which in turn i think sent Interest Rates<\/a> back up. The tlt is something to watch closely. I do think we reverse and we are in a global deflationary environment. Actually Jeffrey Gundlock<\/a> in your conversation yesterday did say the fed blinked when it came to the u. S. Dollar. You think its really all about the fed and this question over whether theyre going to go at all this year . Whether its going to be in june september, december later in the year . Its really going to need the data, right . This uncertainty is confusing to a lot of people who want to be in the market and have been skiddish about getting in or wanting to get out. We just know that eventually its going to happen and be prepared for the next move. Its perfect, right in your wheelhouse are the financials and the banks, knowing them as well as you do. Rising Interest Rates<\/a> must bring smiles to a lot of faces. Certainly for investors who are waiting for something to happen. You know its like a doubleedge sword. On one hand the higher yields are, the more profitable it is to underwrite a loan. When the Feds Fund Rate<\/a> does finally rise their cost of capital gets more expensive. There are pros and cons to each side of the debate. When we talk about the fed and whether the debate is around the fed, were getting a jobs number on friday. Its easy to say the fed doesnt matter but if we get a one handle on the jobs number again, that will completely change the debate versus whether we see a three handle again. Both of those scenarios have happened in the last six months. If we get a one handle guy adami will be right pretty quickly. I just wanted to ask you about the selloff in biotech. We see this, it runs up its a hot sector and then the air comes out of it. Is there any indication that it could be more severe in terms of selloff of small caps and biotech . I think the biotech story, the names were talking about, the major players, those stories are absolutely still intact. What i think is going on theres a player 0 are a few players that are getting out of the etf. I do believe that the etfs are driving the individual stocks for better for worse. That can last longer than people that own the stocks want it to last. I dont think the story has been changed. I have to Say Something<\/a> to scott. Ovechkin is a stud. I dont think the i mean he is Gordie Howell<\/a> on steroids. Are you talking about hockey . No disagreement here. At all. How about my boy holepy . Hes playing out of highs mind. We can talk hockey for the next hour. No way are we going to talk hockey. When it comes to the markets and the valuations of the various sectors, we see a group like energy which has been so beaten up outperforming with crude oil above 60 a barrel and some of the other higher flyers utilities, telecom underperform underperformingunderperform underperforming. You know this is going to happen out of the momentum stocks into some of the tried and true players. When that happens, you have to be positioned in a way if youre a longer Term Investor<\/a> so you can take advantage of the dips when they happen and the momentum when it happens. The ibb driving whats happening is something that individual investors who want exposure to biotech should be aware of. Its still a great opportunity for them to get exposure to a variety of biotechs without taking on the risk of an individual name. Lets not forget about some of the interesting individual stock stories that didnt get a lot of play today because the overall market was having obviously a bit of a fit. You know before we do that, there are the mylan earnings at the bottom of your screen. The Biotech Company<\/a> is out with its numbers. Meg tirrell . Were looking for a beat for mylan on the top line earnings coming in at 70 cents for share for adjusted eps. Mylan, a miss on revenues coming in on 1. 78 billion compared with estimates of 2. 06 billion. The company focused on its proposed acquisition of perrigo. They have rejected overtures. On that revenue miss Foreign Exchange<\/a> did hit revenues by 93 million in the First Quarter<\/a>. A beat on the bottom line and a miss on the top there. Back to you guys. We have another one, Electronic Arts<\/a> ea lets send it over to kate rodgers for that alert. It is a beat on the top and the bottom line for ea. They are reporting eps of 39 cents a share versus estimates of 25 cents a share. On revenues 896 million versus estimates of 850 million. Now, their monthly active users for mobile titles average 165 million users in the Fourth Quarter<\/a>. Theyre also announcing a 1 billion stock buy back. As you can see, the stock continues to climb around 5 . Back over to you. Thank you so much kate rodgers. Guy adami, reaction to mylan or ea . Ea i think is interesting. This stock has been basically on a rocket ship for the last couple of months. I think it continues higher off of this. I think the Short Interest<\/a> is close to 7 . Theyre going to get squeezed. It will push up towards 70 bucs. Bucks, a level we topped out at 75 or so. Go buy yourself an nhl 15. Maybe youll actually make it to the stanley cup finals. Thatnk you, guy. I love scott. I love hockey man. So do people buying that video game from Electronic Arts<\/a>. Be sure to stick around and catch guy adami talking stocks and hockey and more at 5 00 on fast money. Hell be asking the former s. E. C. Chairman harvey pitt why the flash crash could be sooner than we think. Chaipotle did away with genetically modified organisms, now panera is this about healthier eating or a Marketing Campaign<\/a> . We talk to the ceo and cofounder ron shaich. He joins us next in a first on cnbc interview. Salesforce shares surging on a report microsoft is mulling a bid for the tech giant. Is that a good fit . Or is there another buyer waiting in the wings . Youre watching cnbc, first in business worldwide. Can it make a dentist appointment when my teeth are ready . Can it tell the doctor how long you have to wear this thing . Can it tell the Flight Attendant<\/a> to please not wake me this time . The answer is yes, it can. So, the question your customers are really asking is can your business deliver . My name is jamir dixon and im a locate and Mark Fieldman<\/a> for pg e. Most people in the community recognize the blue trucks as pg e. My truck is something new. Its an 811 truck. When you call 811, i come out to your house and i mark out our gas lines and our electric lines to make sure that you dont hit them when youre digging. 811 is a free service. Im passionate about it because every time i go on the street i think about my own kids. Theyre the reason that i want to protect our community and our environment, and if me driving a that truck means that somebody gets to go home safer, then ill drive it every day of the week. Together, were building a better california. Lets send it over to kate rodgers now. Thats right, a miss on the top and bottom for noodles company, revenues 106 million versus estimates of 109 million. Theyre giving very weak eps growth forecasts for the year to come and projecting comp sales growth in the low Single Digits<\/a> for 2014. The stock down 14. 5 now. Getting hit pretty hard. Kate rodgers, thank you. Bird flu outbreak in the u. S. , this story is quickly becoming the largest in our nations history t. Is threatening to impact, breakfast, lunch and your thanksgiving dinner. The u. S. Government is allocating another 330 million in emergency funds to the usda to deal with bird flu. Thats according to reuters. Thats on top of 58 million than been set aside and its largely expected to go to indemnity claims for farmers that have had to destroy their flocks. Theres a lot of flocks including pending cases were talking more than 25 million chickens and turkeys have now been affected. The hardest hit, egg laying hens. There were 342 million after the end of last year 6 of that supply has been taken offline. Thats where prices are really going to rise. Eggs anywhere from 15 cents to 25 cents depending on who you speak to. Turkeys have been hit hard. The virus impacted 1. 5 of the countrys 238 million birds. The worry there, some young birds that would have been used to repopulate are getting infected as well. You could see that higher just in time for thanksgiving. Hormel foods which has seen its own turkey supply reduced has also Just Announced<\/a> that it will temporarily lay off 233 workers at a jennyo turkey plant in minnesota because of this outbreak. Shares of hormel are done in part because of that news. Morgan brennan, thanks very much on the update on bird flu. The problem facing the poultry industry may very well have an impact on restaurants including panera bread. The company is in the news as it became the First National<\/a> restaurant chain to publicly post a comprehensive list of all artificial additives that it plans to remove by the end of 2016. Lets bring in ron shaich, the ceo of panera bread. Welcome back to cnbc. Nice to see you today. Great. Good to see you today. Why did you make at announcement that you did . Its something weve been working on for over a decade. It goes back 11 years ago when we first we were the first restaurant chain in the country to remove from our poultry antibiotics. It continued six years ago when we removed all nonnaturally occurring transfats, five years ago when we were the First National<\/a> chain to essentially post on our menus caloric information. A year ago we announce a new food policy. Consistent with that food policy we want to remove all artificial colors, flavors, preservatives and sweeteners. Its a nono list 150 odd ingredients which you can be assured will not be in a panera menu. You had to make this kind of move given what some of your competition in the fast casual space has already done. I wouldnt say that. Listen, this is not about competition at all. This comes, something weve been working on for several years. The team working on this has been working on this for a decade. The reality my kids eat in these restaurants ten times a week. Im in there five, ten times. Its only logical. Thats what i want to do for my guests. Fa theyre paneras success over 30 years, stock has been up 4,000 in the last 15 years. Thats happened because we come from trying to make a difference in peoples lives. When we do this he reward us by visiting us. Ron, its sara. Is this panera sara . Yes, it is panera sara. He knows about my high school nickname. I do. It comes from the bread bowls. How much of an overhaul is this to the ingredients . Is it going to cost you and the consumer in the form of higher prices. We dont expect a price increase because of this. This is a difficult process. It happened over 40 50 years. Manufacturers in the 60s and 70s were trying to drive shelf space or greater efficiency so they could lower prices or they were trying to have greater consistency because consistency meant it could be machines. Over the last five or ten years weve been to learn this isnt necessarily good for us. It seems to us really clear, simple, less processed food is better. Thats essentially the reduction of everything weve learned about nutrition. Keep it less processed. Keep it closer to your pantry. Theres an element of pr savvy in this move. What do you expect in terms of Brand Awareness<\/a> or Brand Recognition<\/a> from doing Something Like<\/a> that . You know, i dont actually know. I guess we dont start there. We start by trying to make a difference in peoples lives and it works. You know, weve been working on this for years. Bottom line is listen i hope it brings more people into panera. I hope people get this is a Good Housekeeping<\/a> seal of approval a line in the sand. They know theres a comprehensive transparent, clean food within panera. If that helps them to come to panera so much more thats great. But frankly were doing it because its the right way to do business. Ron, Sharon Epperson<\/a>. A lot of retailers, restaurants are very concerned about bird flu and what the impact will be particularly as we get closer to the end of the year. I know you have specials around thanksgiving time. How concerned are you about whats going on . Well to be straight with you, were in the process of working towards the fall with completely relatively unprocessed turkey. Our roasted turkey that well be using for all of our celebration sandwiches in the fall is simply turkey with salt and pepper a little olive oil. Thats the entire processing you get. Nothing else. Its the kind of turkey i get at my inlaws house at thanksgiving. Obviously if there is a serious problem with the bird flu, it could cause problems for all of us in the Restaurant Industry<\/a> and all consumers. Hey, ron, you had a stock that at least some on wall street said was ripe for an activist. And in fact you got one in luxeor capital, who said they had constructive conversations with you about doing a big buy back. 500 million. Had an activist not come calling, would you have done that sort of move . Yes. The reality is we talk to all of our shareholders all the time. I believe we had one meeting with luxor. This wasnt a major series of discussions. Its something quite frankly that our board has reviewed every quarter and continues to review. I think were in a transformation with panera. Were trying to prepare it for another decade of very powerful growth. Given that were in it it seemed this was a good time to announce that buy back. Thank you, ron. Good to talk to you as always. Ron shaich. Good to talk to you guys. Hes the ceo of panera bread. Kate rodgers has more earnings. This time for herbalife. 1. 29 versus estimates of 1. Revenue reporting 1. 11 billion versus estimates of 1. 09 billion. Theyre raising fullyear guidance for adjusted eps of 4. 30 to 4. 60. And the stock is up huge after hours, more than 14 3rers. Back over to you guys. Wow. They cant get away from talking about this story. Yesterday we had bill ackman on. His conviction is as high as it ever has been. Right. Good herbalife. There are some still on the other side that are highly convicted on it or have as much conviction as they ever did as well. It continues. Its a good Earnings Report<\/a> and they raised guidance as well. Salesforce surging on rumors that Microsoft Might<\/a> be interested in the company. If microsoft isnt a buyer, is there another company out there that might be interested in a Cloud Computing<\/a> company. Is there a case of rogue employees or is there Something Big<\/a>ger at work . Kayla is all over that story. Its coming up later on closing bell. Last years grant recipients are achieving Amazing Things<\/a>. Carving a name for myself and creating local jobs. Creating more programs for these little bookworms. Bringing a taste of louisiana to the world. At chase, were proud to support our grant recipients and Small Business<\/a>es like yours. So you can take the next big step. Salesforce sending traders into a frenzy again in the last hour when the stock was halted on speculation, this Time Microsoft<\/a> was interested in bidding for the company. Microsoft is reportedly denied the rumors but nonetheless, the news did send salesforce shares soaring up 5 prer at its highs, settling back lower than that. Cnbc reemped out edreached out to salesforce. It doesnt comment on rumors or speculation. Johning us with their thoughts jack moore director of search for jim cramers Charitable Trust<\/a> at the street and mr. Wonderful, kevin oleary from oleary funds. Does this make sense, microsoft . It makes a lot of sense. I was doing a quick poll. We have an interest in 27 private company, sales, you know, midcappish 5 million, 10 million, 15 million in sales. Theyre split on two platforms for running their businesses. Either on the cloud with microsoft or using the google platform for contact and calendaring. Theyre paying a license with the sales force. If theyre managing sales people, this is the platform. Its cloud based. I see microsoft, i dont care what they say, this makes a lot of sense for them. I also see ibm. This could be a game changer for them trying to get themselves to a 50 cloud base services. It would be a great product for them. I also see google. This makes sense for google Small Business<\/a> platform. Everybody would want this company. Is it going to trade . I dont know. But, boy it makes a lot of sense for a lot of people. It has been growing fast. Thats one reason cramer has had it in his Charitable Trust<\/a>. Do you think the deal will happen . I dont think it will. The pure size alone and complexity is prohibitive. I know microsoft has 85 billion in cash but this would riff 65 million investment. And microsoft appeals to the value investors. This would not be a valueenhancing transaction. This would be a bet on a seamless integration, assuming that the 25 run rating growth would continue on seamlessly. Microsoft is growing their commercial Cloud Business<\/a> at over 100 already. They believe they can get organically to 20 billion. I dont see how salesforce fits in. Do you think it fits in with some of the other companies kevin has mentioned, ibm or google . Google is always a wild card. We know google for the Charitable Trust<\/a>. The last thing i would want is for them to get bigger. Thats the Biggest Issue<\/a> with them. I think that oracle, i initially thought that might make sense. Oracle isnt growing. When i looked at it more i saw salesforce would only contribute 10 to 13 of the revenues. It would destroy margins by 500 basis points and increase the growth rate by 2. 5 . I dont know if that really is the needle mover for them. Oh, is the most disciplined acquirer. It just doesnt make sense from that perspective. Oracle did a 10 billion bond which set the rumor mill in motion. Theres a thread that keeps emerging because marc benioff, the founder and ceo of salesforce is such a vocal and wellregarded leader that obviously he wouldnt concede control of his company. Maybe its a Succession Plan<\/a> move would you buy into that . I came on last week talking about that. I dont see marc benioff heeding control of this company. Hed have to be the leader, no doubt. He believes he can double the run rate or his business organic organically within his core product base. He wants to they just bought a 60floor building in san francisco. Why would they want to just make it even bigger . Kevin you want to respond to that . Its a delicate balance. When youre at hot girl at the dance, which this company is because of its complete command of the vertical on the cloud, it trades at an absolute maxed out premium for its growth rate. If you are a shareholder, you may want to consider looking at the history of what happens to companies that have been here before. I give you microsoft over i decade ago in the 60s. Going into a place where money died for over a decade. This, too, will happen to salesforce. If somebody wants to monetize it here its pretty well at a very good place to turn it back to cash. Im just pointing out as a portfolio manager, at the end if theres any hint of growth slowing, which could happen the next couple of years, sometimes when people come knocking on your door to buy your business ive learned over many decades, sometimes you should sell it to them. Kevin, what does it tell you, if anything about where we are in the market itself if you have the potential of a 50 plus billion dollar deal even being discussed among two companies . The cost of capital has never been lower, ever. If this company wanted to go raise a massive bond issue, it could do it whoever the acquiring company is wanted to use their stock in debt there is an unbelievable appetite for Corporate Credit<\/a> right now. This could be the largest bond deal in history. There would be global appetite for it because the brand salesforce is a global franchised licensed basically click charge infrastructure business which is immensely popular right now. It would be easy to fund. Anybody that has a stock like an oracle could go and raise debt to buy this. Look, i agree probably oracle is the wrong cultural fit. I go back to ibm which has been buying back stock since the cows come home, trying to figure how to grow value for shareholders. Maybe they should take the plunge here. It fits with microsoft and google, always a wild card. For small midcap businesses this is the product. I think there is a deal in play here. If im a shareholder, i wouldnt mind monetizing it. Yes. Kevin, good to see you as always. Take care. Mr. Wonderful, kevin oleary. Lets send it over to kate rodgers. Groupon. Its mixed for groupon, sara. They did beat on eps. Theyre reporting adjusted earnings of 3 cents versus estimates of a penny. A miss on revenue, 750 million reported virts us estimates of 812 million. Theyre giving weak guidance for the Second Quarter<\/a> of the year. They see revenues between 700 million and 750 million. Also adjusted eps of a penny to 3 cents a share. The stock fell when it was first reported now. Its up near 1 . Back over to you. All right. A lot of earnings numbers. Thank you very much kate rodgers. It is time for a cnbc news update with sue herera. Heres whats happening at this hour. Attorney general Loretta Lynch<\/a> thanking Baltimore Police<\/a> officers for the work they have been doing. She shook hands with the officers and listened to their stories from the past week. She praised them for allowing peaceful protests and helping in the cleanup of the city. Isis officially claimed responsibility for the garland, texas attack over the weekend. So far, though there is no evidence to support their claim. Republican senators on capitol hill vowing to keep the a10 warthog flying despite the pentagons plans to retire the fighter jet. Gop members in the Senate Armed Services<\/a> committee are leading that fight despite air force officials claims that retiring the plane could save 4 billion over the next five years. The classaction lawsuit has been filed again the promoters of the Manny Pacquiao<\/a> Floyd Mayweather<\/a> flight which was held on saturday. It is seeking damages because pacquiaos shoulder injury was not disclosed before the fight. And that is the cnbc news update this hour. Back to you guys. Im sure had 2 been disclosed it might have changed the odds. I dont know. I saw him punching. It didnt look like he had a scholler injury. Hes actually having surgery at the end of the week. He has a rotator cuff tear. Out 9 to 12 months. May have changed the number of people who paid 100 bucks or so for the pay per view. Thats exactly right. Who knows. Sue, thanks. Thanks. Did one of the nations largest banks encourage employees to charge customers bogus fees . Los angeles suing wells fargo for allegedly doing just that and much more. Is this a case of banks behaving badly or a few bad apples . That story is next. Super hero movies are all the rage these days. How come hollywood hasnt produced a female centric superhero movie in a decade . We know why. The answer may shock you. That story, coming up later on the closing bell. 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Tdd 18003452550 tdd 18003452550 open a schwab account and you could earn tdd 18003452550 300 commissionfree online trades. Tdd 18003452550 call 18776703357. Tdd 18003452550 or visit schwab. Com trading. Tdd 18003452550 schwab trading services. Tdd 18003452550 your goto for trading knowhow. Tdd 18003452550 the city of los angeles is suing wells fargo for what is deemed quarterback quote, unlawful and fraudulent conduct. Youve been covering this story pretty much all day for us. What can you tell us about it . Weve all been into a bank branch where you thought you were going in to take out a Checking Account<\/a> and someone upsales you or you go in for a credit card and they convince you to do something else. Its the way banks have been able to increase revenues in their virmt. The lawsuit says wells fargo took it a step too far. This is targeted mainly in Southern California<\/a> where some two dozen nearly 30 employees were fired a couple years ago for engaging in these practices. It was exposed in an investigation that the l. A. Times did. Here are some of the things that the lawsuit and the investigation at the l. A. Times said wells fargo was doing. Having a customer open an account, telling them it didnt have fees when it did have fees. Or in some of the worst cases, potentially taking out accounts for customers without their consent or signing them up for a credit card without their consent. In some cases the suit describes this practice where some of these sales people were begging their family and friends or taking out ghost accounts with fake email addresses to meet these steep sales quotas. Wells fargo said it will vigorously defend itself against these charges. A couple years ago when these allegations first came out, they said they fired all of the rogue employees that were engaged in the type of behavior. They said theyre committed to only giving customers the products they want. That is a statement in part from the bank on the back of today. But it is interesting as popular as crossselling has become wells fargo is one of the best in class at this practice. Jpmorgan another. How strict and how scrutinized this practice will be by regulators if in fact the cultures of these banks are found to be doing this on a more widespread basis. Consumers now have the tools to do a lot more scrutinizeding themselves of their accounts and while you do go into a branch perhaps and the crossselling take place, a lot of the customers are migrating toward doing things Online Mobile<\/a> banking. You can see all of your accounts right there. If they are under one account name they should be listed there. Customers need to double check. The other thing it brings to mind, Credit Report<\/a>s. How often do people go and get a free copy of their Credit Report<\/a> when these accounts would come up. If you didnt see it on the bank state, you might see it on a Credit Report<\/a> if you went to annualcreditreport. Com. Kevin oleary of shank tank mr. Wonderful is back with us. I didnt mean good night before. Its good to be able to talk to you about this story. Im wondering what your take is. It seems to be a bit more than do you want fries with that shake . First of all, let me disclose im a shareholder of wells fargo and i have been for a very long time. This is one of the best run financial infrastructures plays in the world. Here we are litigating them in the same way i think people have looked at litigating attorneys general of new york taking on every bank they could just to get money for a municipality. Im skeptical this claim has any merit at all. Why . Because 30 employees out of a company that has tens of thousands. I think i can make a statement thats quite fair. There has never been better transparency in the Financial System<\/a> particularly if youre a consumer than there is today. We were just discussing how much you can get online. It is virtually impossible to hide a fee on anybody anymore in commercial banking. Or in Consumer Banking<\/a> for that matter. I dont like the tonality of litigating banks just because the money is there. Im tired of it. I would like the company to fight this litigation till the cows come home. Im one shareholder, asking my management, enough fight. What if the charges are true . Also this isnt on a grander scale like some of the federal probes and finds we have seen. This is versus los angeles. How much money is at stake here . Do we know . Why dont they go sue the 30 employees that did this against the policy of the bank . Why is it that one or two people in an organization with tens of thousands should make the lives and times of the people doing all the good work and their shareholders pay the price . I dont disagree with that at all. The claim in todays lawsuit is yes, the bank did fire the employees, terminated the employees which, yes, theyre on a small scale versus how big the company is but they were founded to have been engaging in this practice in Southern California<\/a> this is the city of los angeles going after them. Even the lawsuit is on a smaller scale but the claim is that the bank did not tell customers when they were affected by some of these fraudulent accounts, that only the customers that went to the bank and said something is amiss in my account or ive been charged for something or my account has been overdrawn by fees i didnt sign up for, only in those cases when the customer called them out on it the customer was responded. It actually could have affected more people. This is an incredibly small percentage of all the people that do great work at wells fargo. This seems to me to be something ill put two columns of people i would throw my wrath at. Number one, sometimes these claims are dreamt up by lawyers who think they have something on a contingency basis, maybe getting a third of the proceeds. I dont know in the case of the city if they hired lawyers like that. Lawyers like that are below single cell amoeba. Thats where id put them. I would like to take this case as a shareholder, again, appealing to management, lets go the distance. Call this the same as tobacco litigation. Lets fight for 150 years and see how its settled. I think there are a lot of Bank Shareholders<\/a> that would agree with your sentiment for sure. Im just tired. Im sick and tired of it. Instead of seeing it as a government against a bank how about protect the consumers . Thats what you need to worry about. If you have a bank account wells fargo or elsewhere you need to be concerned with that. We have to cut it off. We have breaking news on jpmorgan. Speaking of federal proshs kevin will love this one as well. The quarterly filing from jpmorgan, in it it says its in advanced stages with the department of justice and the fed on Foreign Exchange<\/a> investigations. Of course, this is an issue, sara you know well its been under ways for several years. It was the next one to drop. It could be fairly large. Last week bank of america said it agreed to pay 180 million to private investors to solve these issues as well. Certainly continuing legal issues not anywhere in the end of our sight here. Not seeing impact on jpmorgan after hours, continue to watch that one. Sometimes investing as we know can be a laughing matter. Just ask everyone loves raymond star brad garrett who has put his money where the jokes are by opening a brand new comedy club in las vegas. Well talk to him about that as well as his new inside show biz tellall book. First, airbnb in cuba. Man you run a business. Could be any kind of business. And every day youve got important decisions to make, like hiring. Where are you gonna find those essential people you need . With ziprecruiter, its simple. We post your job to over 100 job boards with just a single click, so you can reach millions of qualified candidates. Then well give you the tools to help you manage, screen and rank your applicants all so you can find the right one. Try zip recruiter for free today. Were back. Oil prices are rising and a fracing counterattack could be on the horizon. Allen wastler has that story and the rest of todays hot list. I was hoping my dollar story would make it allen. Sorry, sara. Oil is on the mind of the readers today. Theyre taking a look at the 60 oil price and whether that will bring rigs back online. Thats getting a lot of attention. We have a nice feature of airbnb cracking the cuba market not bad for an Internet Company<\/a> in a country thats basically noninternet and the Billy Corrigan<\/a> interview, you know Smashing Pumpkins<\/a> on cnbc earlier today that was a great interview. Getting a lot of attention from the 90s music crowd. Artistic value, right scott . I urged everybody to check that out. It was a really good interview. Hes very outspoken. Did they play music videos from the 90s. They did not. After he starred in one of the most successful tv comedies ever, theres one place to go, las vegas. After everyone loves raymonds nineseason run, comic brad garrett has returned to his standup roots and gone into business for himself, opening a comedy club im shorting apple hell join us when we come back. I think about the shape. I think about color. I also think about sound. I take it into my brain and i think about. What would it look like to me . My tin man has a big toe the size of a house. The lion is small like a toy poodle. It has webbed, duck feet. And he is very scared of everything. My scarecrow has wooden teeth. His fingernails are really long. And his clothes have tubes on them. Somewhere over the rainbow somewhere over the rainbow and thats dorothy. She looks like me. Everyone has a favorite movie. Now people with visual disabilities can find theirs. Comcast is proud to introduce the First Talking<\/a> guide. From xfinity. Well, of course you know our next guest. He played the lovable big brother on the hit tv sitcom Everybody Loves<\/a> raymond. But brad garrett doesnt just perform standup in las vegas. He owns the club at the mgm grand. His turn from funny man to businessman. Glad to see you here. Its good to be here. What a day on the market huh . It was huge. Oh my god, apple like 650 a share overnight. Thats something you dont see a lot of. I can tell you that. We just found out your father was floor broker . He wasnt he sold chocolates. Its gepetto from pinnochio. How are you . My dad sold a lot of different things. He sold questionable mattresses. He was the first jewish guy to get swim lessons. A lot of things didnt pan out. How long did it take . You want me to leave . If im opening up to you about pappy, i think there is another way to get in. The club is at the mgm for three years now. You just insulted the guy like in mgm commercials you. You just insulted me. What are you talking about . My samberg club is in the basement next to house of magnet. Which is your name in high school. Right next to a new york pretzel. Id love to have you there. Its a lot of fun. I know when you go to vegas it gets a little. Next time you go. How often do you go . I have footage. I kind of hope not. You have also written a book. Its about midlife. You dont have to worry about that. How old are you . 35. Seriously, . Okay. Whatever do you if stock. You open ud about your dad. Your dad is not with us. Your mom is with you. You talk about in this boom that so many of us go through. You are now more the businessman, you are taking care of a parent whos a alzheimers . Its you know its a brutal life for somebody going through that. My mom louis odd tell me never let me get to this stage. What do you when they get to that stage . Thats whats so difficult about it. This book about midlife is really about happy, i sat down one night, if i may, to urinate. I have a little problem. Three, four times a night. I let the people out of the room then i go do my thing. I have a little problem with the pea stream. I know are you fought there what is it, jerry, . Tim . Talk to me mannequin. Hurry up you have 30 second finish this story. You will one day. I know you are only 30. Ha ha. And in dog years. No but i sat down to pea and the jeanie hit the toilet and they were, okay they were there. They were swimming. Im following you. So i went into a deep depression and you know got a bow and arrow and went thats it and ended up camping and spending sometime outside and really going i have to talk about middle age and how you just have to enjoy yourself and just let it go because it doesnt matter how you work out. I know you do a lot of there i think so to look like this and you are amazing, but its all going to go. One day your jimmys are going to so its really about midlife and how women rule the world. I want to be one of the first palestinian to go on record its called the power of the pink, its an amazing chapter. You women rule the world remember guy versus to admit. That all you weiseles not you dancer running around. We got to wrap it up. I think everyone is interested in reading the book after that. Thank you. It was a lot of fun. I feel like life just owe oits a lot of fun. I signed the book for all off. Maybe you can sell it on ebay. All right the book is called with the when the balls drop. Well be right back. Small businesses every day through programs like mission main street grants. Last years grant recipients are achieving Amazing Things<\/a>. Carving a name for myself and creating local jobs. Creating more programs for these little bookworms. Bringing a taste of louisiana to the world. At chase, were proud to support our grant recipients and Small Business<\/a>es like yours. So you can take the next big step. That was fun, yeah. Okay. That does it for us on the closing bell. Thanks to our panel resultan and kayla. Fast money starts right now. Fast money starts right now. We are live from the Nasdaq Market<\/a> side overlooking New York Times<\/a> square. Hello, our trainers tonight are tim see more guy adaimadami, all the usual suspects. Is the best deal of all times possibly back on . Reports that were going to tell you what the massive deal could mean the techs next move. Plus on the eve of the crash anniversary,","publisher":{"@type":"Organization","name":"archive.org","logo":{"@type":"ImageObject","width":"800","height":"600","url":"\/\/ia902703.us.archive.org\/33\/items\/CNBC_20150505_190000_Closing_Bell\/CNBC_20150505_190000_Closing_Bell.thumbs\/CNBC_20150505_190000_Closing_Bell_000001.jpg"}},"autauthor":{"@type":"Organization"},"author":{"sameAs":"archive.org","name":"archive.org"}}],"coverageEndTime":"20240621T12:35:10+00:00"}