What the latest earnings tell us about a big shift. A major blow this hour to obama care, an Appeals Court ruling that subsidies given to certain people in certain states under the Affordable Care act are illegal, out of bounds. What this means now for the Health Care Law and those who have signed up for it. And better than a bubble. Apple and microsoft after the bell, with earnings today. A number of major tech players trading at very lofty levels now which tech stocks are worth more now than they were at the height of the dotcom boom. Which are more richly priced . Were going to explore that this hour and form more. The knack dab is the biggest winner. We start uptown with seema mody. Hi, seema. Good afternoon, sue. A big day for tech. Take a look at the Top Performing tech stocks. The list may surprise you. Juniper Networks Tops the list, of course Elliott Management has been pushing for change at the company. Qualcomm also providing a lift. F5 net works reporting tomorrow, but reported today in terms of some of the best performing tech stocks over the past one month, largecap tech dominating the list. Lastly got to take a look at netflix, but it did say Third Quarter earnings would be impacted by higher that weighing on shares in todays trade. Sue, thank you very much. We have big news that just broke out of the high frequently trading world. It concerns mr. Obrian. And concerns this show, too. Bill obrien announced he was leaving that ecchanges. No work on where hes going, nor is there any word or explanation as to why he was departing, however he made news on this very show back in april when he appeared with us with Michael Lewis of the flash boys author and got into a very heated debay with brad cat yamma. My question to bill, if hes watching launching accusations. Im launching accusations . What market do we use the direct feed and in combination. Not what you use to route, what do you use to price trades in your matching engines . We use the direct feeds. No. Yes, we do. You had a 300page commercial, so let me talk for a few minutes, okay . Thats mr. Obrien. He issued a correct later on that statement, use the slower sip feeds or securities information processor for the matching engine. The role of president will be assumed by the current ceo. Interestingly they didnt say why he was leaving. Perhaps it was it was related to this incident. You can speculate about that. Programs he simply decided it was time to move on. At the moment theyre all theyre changing. We would welcome a comment. I know you put a call in, so give us a call or send us an email, and well read it on the air. Other well talk to you on the phone. Other well talk to you on the phone. Ty, up to you. Sue, thank you very much. A very busy and perhaps somewhat confusing morning with respect to obama care because of Conflicting Court rights out today. Bertha tell us what happened today. Essentially if you look at the math, the on you the orange stakes. This is who might be impacted by the ruling that came out of District Court. So the srkt there said under the letter of the law that the obama care subsidies that a lot of the people got are illegal, because they can only be given out for staterun exchanges. As we no many states decided to default, so some people challenging this law. This is the letter of the law. Was this the intention of the legislators . Then you get another District Court in virginia, the 4th Circuit Court there saying no, the spirit of the law is that people should be able to get these subsidies even on the federal exchange. So now you have set up this conflict. This, dan, would suggest this is going to land in the lap of the Supreme Court very quickly. Yeah. Another step that has gone the Obama Administration within minutes of todays ruling by the d. C. Circuit said they would seek an en banc review. If they prevail there and the plaintiffs in the 4th circuit dont get a rue view there, there is a if there is a split among the circuits, its guaranteed, the same Supreme Court that just went against the Obama Administration in the hobby lobby case would hear this major significant challenge to the subsidies. You were mentioning if i have been receiving a subsidy. If im already there, am i safe . Right now you are, because the ruling that went against the Obama Administration at this point upholds it for now. Its stayed. Theyre not going to claw anything back for now. The question is how it goes down the line. Part of the reason today were not seeing insurers get clawed back and go negative is the feeling this is is process. Dan, bertha, i know youll be following it the rest of the day. Thank you. Now to dominic chu tracking some of the health care stocks. Tyler, the insurers are for the most part reacting to the two appeal court decisions. For the most part up by 1 , 2 , so you think wellpoint, you think cigna, aetna, all reacting positively, and did so throughout the course of the day. Even as traders, investors, analysts digest what happened, a possible maybe Supreme Court ruling sometimes down the line, the odds are the investors are pushing these stocks higher f. A monster day for earnings, mcdonalds, harleydavidson missing their targets. What does that say about the state of the u. S. Consumer . Sarah i sara eisen has the story. Look as mcdonalds suffering, samestore sales down 1. 5 for the quarter 3rks. 5 for the month of june alone, which is more about mcdonalds losing touch with its customers. So far thats not working. What goes works . The corp rachelle samestore sales s. On top of a menu price increase. Consumers want fresh, less processed food. Chipotle is on trend despite the consumer economic headwinds. Cocacola missing the mark on sales during the quarter, because in north america and many other key parts of the world soda is not growing. Diet consumption, weve talked about it, is declining, even juices are starting to get hit. The growth is . Sparkling waters, nonartificial sweeteners, which is why theres high hope for coke life to be introduced in the u. S. In the fall, with natural sweetener using stevia. Campbells soup just this week launched 200 new products lie v8 protein shakes, campbells branded organic soups, smoothies, fruit tubes, theyre hitting all the trends here, healthy organic, eactually getting into greekstyle yogurt, so the economic climate is still tough. Thats why many of the companies are struggling, but also why this big taste shift matters a lot right now, and separates the winners and losers during this earnings season, sue. It makes sense, sara. Thanks very much. To the markets with the s p 500 hitting a new intraday alltime high, mixed results t its also the gee on political risks that are escalating. Kenny polcari is with me and mike holland. Mike, im kind of impressed that the markets can move with the geopolitical situation the way it is around the world. Are you impressed or no . Absolutely, sue. I think a number of my friends who have been since cal or bearish about the market for the last two years continue to be really unhappy that these headlines are more affecting of the markets. I think we have the three things we talked about before, the fed, the negative psychologyings which i just referred to, and last thing is valuation. Youre still finding places to put money to work. Which sectors do you like . In the past its been asia, but also technology. China and taiwan are really inexpensive right now. The long proclaimed hard land we had some slowing, apple, ibm, exxon mobil, not Companies Like amazon or netflix, which are priced to move. Absolutely. It is interesting that despite the fact that we have an escalation in the middle east, this market keeps pushing higher. It does, but what we saw overnight was the escalation in the middle east seems to be or at least last night seemed to be coming a bit of control. You saw markets around the world rally, which kind of fed into today, as well as the seven dow stocks. Geopolitical issues, is that but then created by that emotional reaction, and if you believe in the recovery, then, you know, its a great place and the fed. Its a great place to be. They do very well. A Global Recovery thank you, gentlemen. Thank you, sue. All right. Lets send it over to dominic for a quick market flash. Lets talk about the industrials. Genuine parts company, the stock is moving lower on the Second Quarter revenue growth, the lightest in fourth quarters. Auto parts, theyre all retailers, you can see them moving toward their lows in the session as well, sue. Back over to you. Thank you, dom. The rocket fired from gaza Landing Three miles from israels Main International airport today in response. In the u. S. , the faa is closing the air route from the u. S. To israel for 24 hours. Well have more on that in just a moment. Plus fighting war on multiple fronts. The israeli army has a special unit just defeated to social media. Well talk about that next, and only on power lunch. Meet the woman who created it. So were all set . Yyyup. With xfinity internet your family can use all their devices at once. Works anywhere in the house. Even in the garage. Max whats going on . Were doing a tech startup. Were streamlining an algorithm. Were going public [cheering] the fastest inhome wifi for your entire family. The x1 entertainment operating system. [ female announcer ] f provokes lust. It elicits pride. Incites envy. And unleashes wrath. Temptation comes in many heartpounding forms. But only one letter. F. The performance marque from lexus. Welcome back to power lunch. Im phil lebeau with a developing story involves u. S. Airlines flying to and from the main airport in tel aviv. The faa has issued a notice to all u. S. Carriers, banning them from flying to or from bengurion International Airport for the next 24 hours. That move comes just within the last couple hours of u. S. Carriers on their own deciding that they were going to suspend their flights. In fact, we want to show you from flight radar 24, look at the turnaround in a delta flight that was going from jfk to tel aviv. It was over the mediterranean when delta made the decision it was no longer going to fly into that airport. It turned around, went to Charles De Gaulle in paris. The reason why the flights have been stopped is because there was rocket fire within three miles of bengurion airport. The faa set were going to suspend flights for at least the next 24 hours. Guys, back to you. Phil, thank you very much for bringing us up to date. Social media has become a weapon. The israeli army has a special unit devoted to just twitter, facebook, youtube, and other kinds of social media. They do it in six languages. Theyre producing tweets like the one you will see on your screen detailing how hamas is attacking from inside civilian airs. The colonel started the unit as she headed the idfs spokespersons office. She retired just two months ago. And we welcome you to the program. Why did you start the social media unit. And how important and effective is it . A wartime situation as israel and gaza are now engaged in. Well, the social media is actually a war zone for us here in israel. Its actually a way to communicate to a wide variety of audiences worldwide without an editor interfering. Here we can have our own campaigns. We can decide on the size of the headline, what that headline will be and exactly which footage to upload. It enables us to reach millions as their sole sort of information. Yeah, well, we can can see by the increase of the views and the readership of the information that is posted there. We started with only one social platfo platform, actually it was in english. It had Something Like 20 million people. Now we are looking at something of many tens of millions of people with a variety of languages all over the world that have this kind of information. For us its a great opportunity to convey or messages, and more important, the visual the visual context of those messages, because people today want to see the visual proof of those messages. This is why we are offering those possibilities. Some people say that perhaps it also, though, might tip off people, including perhaps the enemy about, say, a move. I would assume you would have to be very careful and restrictive about the content of the message, so as not to tip your hand or enganger the military or civilians. Yeah, this is correct. We have to make sure that every information that is posted out there has passed the field security. So we do not reveal too many secrets. On the enemys side, since you mentioned this, the biggest challenge for us today, i would say is the amount of falsehoods that is going on online. For example, in this current conflict, we see numerous pictures from syria that are posted as if they were in gaza. This is actually something that we need to expos to the public and explain the source of these pictures. Yes. What type of people do you recruit for that part of the military . I would assume you tend to go to those who are younger and perhaps more either familiar or comfortable with social media . Well, there is a big paradox here, because any military in the world is a closed organization, usually has its own specific language, and social media is the opposite. Its open, emotional, its sharing. Here we have the best assets, the 18, 19 and 20yearolds, which recruit under mandatory service. They need to have this creative touch, this thinking outside of the box, and these are the people we are looking for. Thank you so much for joining us. We really appreciate it, and we hope to take to you soon again. To dom any chu for a market flash. Check out whats happening with kimberlyclark, the stock is moving lower after the company cut its outlook citing a tough economic environmental, they are facing new competition from the lights of procter gamble. Shares just off by about 2. 5 . Tyler, back over to you. Herbalife shares on the move. Hedge fund titan big ackman laying out his case again the company, yesterday he called it yesterday the most important presentation of his career. Herbalife, though, fighting back. Weve got both angles, and you can see what the stock is doing today. Plus tight end engineer michael finley, the 10 million dilemma. Hes recovering from injury stay and play in the nfl or walk away and cash in on a 10 million insurance policy he has . What would you do . Go to cnbc. Com vote and weigh in. Tell us what you would do. Well be right back. A world thg faster than ever, we believe outshining the competition tomorrow requires challenging your Business Inside and out today. At cognizant, we help forwardlooking Companies Run better and run different to give your customers every reason to keep looking for you. So if youre ready to see opportunities and see them through, we say lets get to work. Because the future belongs to those who challenge the present. Were changing the way we do business, with startup ny. Weve created tax free zones throughout the state. And startup ny companies will be investing hundreds of millions of dollars in jobs and infrastructure. Thanks to startup ny, businesses can operate tax free for 10 years. No property tax. No business tax. And no sales tax. Which means more growth for your business, and more jobs. Its not just business as usual. See how new york can help your business grow, at startup. Ny. Gov welcome back. Look at dominos. Boosted by strong results overseas. Revenue rising nearly 9 . The stock is up nearly about 4 . In a cnbc exclusive, dominos ceo Patrick Doyle will be jim cramers guest tonight beginning at 6 00 p. M. Eastern time. Tune in right here. Hope hes bringing the pizza. The big story today, bill ackman laying out his case against the company, ackman calling the presentation this morning in front of security analysts and others, the most important in his career. Lets get you in the middle of this battle by listening first to big ackman earlier today. Ive been an investor in retail, for better or worse, many times over the course of my career. What i can tell you is retailers dont grow exponentially, in fact their growth slows as they become larger. Pyramid schemes grow exponentially. That is not obviously what scott wapner was told today by the cfo. Lets listen in. Im not worried about the substance of what he has. You know, theres no doubt that hes missing the real analysis, the real research. This is anecdotal, very propaganda base. Im not even sure that he understands clubs, but well listen. What hes missing it that fundamentally we have millions of customer that is enjoy the product, that use the product. Thats indisputable. Scott and herb are with us, kate kelly, who was with us at the presentition also joins us remotely. What just happened, scott . Bill ackman spoke for, what, 2 1 2 hours . Hes still taking questions in midtown manhattan. But the market is not listens, he said this was the most important presentation of his life, was going to significantly impact herbalife, is maybe having a different impact thus far. Hell make the argument dont look at the stock price. He certainty doesnt want to look at it today. That was his words, the company was going to collapse. And we spoke to another investor, Robert Chapman out on the west coast, who was buying the stock yesterday, thus you have the move youre seeing on your screen right now. He went through just for an hour going through piece by piece, but remember what were talking about. Very complicated, very different to untangle. The company can come back and say heres where you got it wrong, and i keep saying in the end its up to the regulators. I have to agree with herb. I thought there was pretty damning anecdotal but theres this sort of training program. He talks about when people are in training, they have so many attendances, have to make a shake 100 times before they can sell it professionally. That i think is concerning, other than the unless youre an herbalife expert, its hard to find the fact check in all of this. The problem is all people have had to do to look at the move is thats a stock thats been moving. Except that its a oneday reaction stock. It was up a lot last year. Were looking at a stock price, whateve