Picture. Analysts are forecasting for this quarter, thats going to be weak Revenue Growth. While we are seeing a reacceleration in gdp growth, that hasnt translated into higher Sales Estimates for this quarter. For q4, Thompson Reuters is estimating a. 4 jump in sales versus 3. 4 that we saw last quarter. Europe will also be in the spotlight this season. Analysts are betting that tech will benefit from the ongoing recovery in europe. Tech companies that have exposure to europe include harmon international, Electronics Arts and priceline. Last quarter, priceline saw an uptick in european sales. Analysts say the European Online travel market could offer considerable Growth Opportunities for priceline and the broader online traffic market, travel market, excuse me, going forward. When it comes to emerging markets, experts have a mixed opinion on business conditions. Last quarter, young brands and nike were cautious on china while General Mills saw strength on its earnings call. Management said we had a very Strong Quarter in china and have seen terrific growth in brazil. Whether we see strength or weakness in emerging market sales, the chief Market Strategist at oppenheimer points out that unfavorable currency fluctuations will likely have a negative impact on earnings this season. Tyler and sue . Thank you very much. Lets go over quickly to dominic chu for a market flash. Check this out. Its mckesson getting hit hard. It just reopened for trading. The company said it failed in its bid to buy a german drug distributor. It raised its bid after Elliott Management rejected its original bid. The two sides finally hammered out an agreeable price but they needed to get 75 of shares. Thats what mckesson was trying to angle for. They did not get it so those shares lower after they do not get those shares they need for a takeover. Back to you. Interesting development. Thank you. Returning now to the earnings season and financials of course, a big theme this week, kayla tausche. You have been following it for us. I have. Alcoa out of the dow, now banks will officially kick off the earnings season with Jpmorgan Chase and wells fargo reporting tomorrow morning. There are a couple broad themes analysts are preparing for. With revenues slim, banks have been pumping up profits by cutting expenses and releasing money they had stored for bad loans and some litigation. Those strategies are wearing out and the question is are banks really starting to grow revenues. Second, in an improving economy, that Revenue Growth comes from loan growth, especially from consumers and with mortgage refinancing drying up, banks really need this. Third, what was the effect of the taper. In q3, trading sharply slowed when the fed kept the status quo on qe, rising yields should spur more activity but it wont be a blowout quarter. Jpmorgan is expected to post 1. 24 per share on slightly down 23. 8 billion in revenue. Better than its q3 loss but it will take an additional 850 million hit for its madoff settlement. In october, wells fargo said its mortgage pipeline shrunk by half. That will hurt wells since its the banks biggest unit. Investment banking for wells could be a bright spot but analysts are looking for slightly higher revenue but lower eps, 98 cents on 21. 9 billion in sales. Later in the week, citigroup turns 5 and bank of america could surprise to the upside but tomorrow, with these two big banks, that will really set the tone. As we talk about the improving economy, whether banks feel comfortable leveraging will be key here. Thanks very much. Youll be all over it for us. Are we going to dominic or sue . All right. Sue, to you. Thanks very much. Lets talk more about this. Bob pisani is here, kenny pulcari is here. We are down 102 points on the Dow Jones Industrial average. Theres a lot of tension in the market today because of earnings. Youre focusing on the financials as well. Because its the week, right . Kayla points out its very important that people focus on the financials. Heres what i think will happen. You will get the sell the news mentality. You will try to rally the market and long term investors will take some money off the table, people are expecting some weakness as we move into the spring. All this news they are talking about such as jpmorgan, thats not new news. Everybody knows that. The madoff settlement. Using that as an excuse. Understood. Understood. When that news came out, people already reacted to that news and the settlement and all that. You might get a little push but you will hit resistance right away. We were flat until the jobs picture not quite as rosy as we think. Gdp forecast i think is 2. 5 to 3 , that was fairly mainstream, but the market really didnt like his slightly bearish tone, i think. And we dropped on that news. Especially given the fact that there seems to be a disconnect between the employment numbers and whats actually happening on main street. Its calling into question the analysts that i talked to, anyway, about whether or not you can really trust the employment data. Obviously, last weeks employment data, lot of people si say that was a weather fluke but it brings into question whether or not the reporting is accurate. The bond market doesnt feel that way. Theres a divergence between the two. If it was a real fluke, it seems the bond market would be unchanged friday and today, yet its not acting that way. This whole thing about the weather, it was too cold, people dont look for a job, i sit back and think are they kidding me . Because if youre really looking for a job and you need a job, the weathers not holding you in the house. Especially if you think theres a chance exactly. That whole argument is very, its numbing to me. Im thinking to myself, and im told the government was shut down for three and a half weeks, yet that number blew the roof off the bus, considering. With all that said, the markets not panicked. Sixmonth low, lowest since august on the fear indicator, thats the vix today. Vix. The market is not panicking here. Its not happy, either. Down 100 points. Deterioration. Thank you very much. To dominic chu for a market flash. Speaking of not being happy, check out whats happened. Lots of investors digesting headlines. The biotech issued a 2014 earnings forecast that was slightly below wall street estimates but it did manage to raise both its sales and profit forecast for years 2015 and 2017. Investors are focusing a little more on the short term outlook, though the stock is down. Remember, this is a stock thats up for the year, up around 70 over the course of the past year. They made the presentation at the jpmorgan annual Health Care Conference. Thats where Brian Sullivan is. He will be there live on street signs in the next hour. Sue, back to you. Lets check the oil and gold market, especially given the fact we are down triple digits now in the Dow Jones Industrial average. We have a fractional loss in the oil market. Crude is down 32 cents. Comex gold up modestly. Investors watching for a final deal with iran over its nuclear program. They got that final deal. Thats what had been affecting the oil market. The gold market saw a slight bid in it as we saw the Dow Jones Industrial average sell off. We will keep a very close eye at the final trade. Ty, back to you. Thank you very much. What do you call a group of top ceos . A gander, a pod, a flock . A cluster . Whatever you call it, we have a lot of them on cnbc today and they were all basically singing the same kind of tune on the economy. Our senior economics reporter Steve Liesman here with what the leaders of some of americas Biggest Companies are saying about their outlook for the year. Senior bird watcher. Yeah. Americas top ceos on cnbc today were singing the same tune about the economic outlook. It was an upbeat song. Unfortunately, it does contrast a bit with the song being sung by ordinary americans who continue to sing some variant of the blues. When youre going to hire another 11,000 employees worldwide, another 5,000 employees to support our increasing production in the united states. You see broader economy, you see the job growth growing beyond ford and the Auto Industry. Absolutely. We are seeing it in all sectors we support, especially housing and all the construction business, the energy sector. My belief is that there should be fewer headwinds in 2014 than there were in 2013. That sentiment echoed in just the past hour by atlanta fed president Dennis Lockhart who said he is more confident than he has been in years in his forecast for stronger growth this year. Lockhart saying quote, compared to previous januarys, we are entering this year on a more solid economic footing. Real gdp will expand between 2. 5 and 3 and i would not be surprised if we achieved results at the upper end of this range. Those comments not out of line with consumer attitudes, maybe just a bit ahead of them. Take a look. Consumer attitude in fits and starts, remaining well below 07 levels. Even below some of the better levels we have seen earlier this year. Heres the economics of it all. Better ceo confidence, if it leads to stronger investment and hiring, can lead to better Consumer Confidence numbers and that could lead to more investment and hiring. At the same time the dangers that Companies Get too far in front of average consumers or still play the waiting game which is to say the consumers lead the way and thats been a recipe for really lack luster growth. Thank you very much. It says up here out with steve. I dont mean it personally. It says out with steve, right . In with sarah eisen. Theres the trade right there, baby. Who covers you have covered big consumer names for us. Theres a lot of information today about a big deal about who is buying our drinks. It gets right to consumer trends. We are talking about the Japanese Company suntory offering a 25 premium for beam. Driving this higher price, beams crown jewel is makers mark. You may have heard of it. Strong brands. The stock beam is up almost 100 since it debuted in 2011, came out of the threeway split of fortune brands. The story here, the industry almost back to prerecession sales growth. According to trevor sterling, an analyst at bernstein research, in the united states, spirits consumption is actually growing faster than wine drinking, beer drinking is actually shrinking. We should note that beer is still the giant in terms of revenues, in terms of profits and in terms of volumes but spirits are seeing some high growth. Theyre hot right now. Its high margin products, especially when youre talking about premium varieties which is very in vogue right now. Another reason for the high price of this deal, beam was seen as one of the last men standing at least when it comes to publicly held spirits companies. Other analysts are pointing to brown forman, you know them for johnny walker, also constellation. Its mostly a wine and beer company but does have a small spirits biz. Otherwise, a lot of these Big Companies like bacardi and remy martin are family controlled and dont really show signs of deal making. Hot space, hot industry, particularly in the united states, and just the lack of assets or properties out there for deal making. I did a story a couple years ago on the samuels family which founded and is still involved with makers mark. Their biggest Growth Market at that time was asia and specifically japan. Bourbon had never been a big player in japan until makers mark. Bet that was one of the reasons why suntory got so interested. Japan is interesting, aging population, less drinking. A lot of japanese bands, kiran has gone after emerging markets in the spirits business. We have seen a lot of it. Diagio is the Industry Leader and has been playing the emerging markets acquisition, very active in that as well. U. S. Has been an interesting bright spot. Japan, welcome to kentucky. Good to see you. Sue, down to you. Some big news today out of detroit. Phil lebeau has it from the auto show. A big change for fords bestselling f150. Ill tell you what it is. Well talk about fords big gamble and what it means for the company. By the way, shares of ford up 5 in the last week. Yep, and up about 1. 5 today. You know, talk about vigorous debate. Take a look at this. A parliament where that debate got a little bit out of hand. See whos fighting and why in two minutes. [ male announcer ] this is the story of the dusty basement at 1406 35th street the old dining table at 25th and hoffman. And the little room above the strip mall off roble avenue. This magic moment it is the story of where every great idea begins. And of those who believed they had the power to do more. Dell is honored to be part of some of the worlds great stories. That began much the same way ours did. In a little dorm room 2713. This magic moment this magic moment at a company thats bringing media and technology together. Next is every second of nbcuniversals coverage 0f the 2014 olympic winter games. Its connecting over one million lowincome americans to Broadband Internet at home. Its a place named one americas most veteran friendly employers. Next is information and entertainment in ways you never thought possible. Welcome to whats next. Comcastnbcuniversal. Welcome back to power lunch. The losses in the dow are accelerating, now just about triple digits right now. Leading the way lower here, exxonmobil and chevron as Oil Prices Fall on an agreement with iran that takes hold next week. Also check out shares of disney, nike, microsoft all lower on the session as well. Thats helping to push that dow towards those session lows. Back to you. Thank you very much. Punches and water bolts became part of the debate in Turkeys Parliament over the weekend, stemming from the contentious process there of appointing judges and prosecutors. Looks like the cnbc newsroom. No, just kidding. This wasnt even the full parliament. It was just the justice committee. Sue . Yikes. All right. Lululemon getting slammed today. They hit a new 52week low, now down almost 16 at 50. 08. The upscale yoga retailer cutting its outlook for the Current Quarter. It says that sales have been off and been slowing and then there were the controversial comments by its founder. Stock really getting hit. Down 15 , almost 16 right now. Speaking of a different kind of stock, moving the other direction today, ford shares moving up by better than 1 . The automaker gearing up for a dramatic makeover for its bestselling vehicle. Phil lebeau speaking with the ford ceo about it today at the detroit auto show. Phil . Reporter you know, im not sure the public outside of the Auto Industry fully appreciates the move that ford is making with the f series. This is a bit of a gamble and a big step in terms of fuel efficiency. The new f series was unveiled today with one of the more dramatic reveals we have seen ever here at the detroit auto show. They are going with an all aluminum body. That means that they are stripping out about 700 pounds out of the weight of the f150. This is going to be an all Aluminum Alloy f150 that has been tested offroad. By the time it goes on sale later this year, ford says it will have ten million miles being tested, and they have sold more than 763,000 of the f series last year. Remember, this is the bestselling vehicle in the country for 32 straight years. The question is whether or not consumers will look at the aluminum frame and aluminum body and say sure, it will hold up, it will be durable enough. The ceo thinks its not a question of whether people will embrace this. The response has been fantastic. Of course, a real Value Proposition for the f series is the aluminum cab and aluminum box. It will save us over 700 pounds. We can downsize the engine, improve efficiency plus all the capability. The aluminum pound for pound is tougher than steel. Reporter as you take a look at shares of ford over the last month, its down over the last month but up almost 5 in the last week. I have to tell you, two things. The f150, when they do the final fuel efficiency ratings is likely to be well above 25 miles per gallon and second of all, i have not seen alan mulally this relaxed in a long time. I think he feels very good about the decision he made to pull out of the microsoft ceo search because he has not been this relaxed in a long time as he walks around here. Thats very interesting to hear. Hes probably delighted he doesnt have to answer questions from you, who asked him very directly last time about that very point. Lets switch gears here and talk about a bizarre story of a southwest aircraft that landed at the wrong airport. How does this happen and didnt Something Like this happen not that long ago . Reporter yeah. It seems to be happening places where i used to live. Last time it was wichita, this time in branson, missouri. I used to live in central missouri. This is a case where the southwest pilots went to the city airport instead of to the commercial airport where southwest has service. This was a flight from chicago down to branson. There was nobody hurt and the plane landed and more than anything else, its not only embarrassing for southwest but now you have the ntsb getting involved and saying how is it that the pilots, with all the technology thats involved nowadays in these aircraft, how could they land at the wrong airport. Second time we have seen this in the last couple months. Thats what i thought. I remember it was wichita. I hope all those people made it to the dolly parton show that night. Thank you very much. Reporter you bet. Sue . We are at session lows. The Dow Jones Industrial average now off about 112 points on the trading session. Thats pushed people into bonds and the yield on the tenyear is dropping. Were at 2. 83 . Coming up next, more on the markets plus it is called the woodstoc