Higher. Heres the big stories you need to know about this morning. Greece topping your headlines. Athens widely expected to ask for an extension of a loan deal with the euro zone. Well talk about the implications of that. The bank of japan leaving it unchanged. The worlds third biggest economy is on the lend. By the way, the nikkei 225 is up 4 this year. Here at home a number of economic reports are set to role out this morning beginning at 8 30 eastern when we get the january Producer Price index. Housing starts as well as Building Permits. Later on in the morning we get Industrial Production figures and breaking at 2 00 p. M. Eastern time we get the minutes from the last months fed meeting. Thats at the top of the power lunch which im told is a fine program. I saw that in the prompter. Did you write that into the prompter . I script everything. Lets tell you whats going on. Fossil with weaker than expected earnings revenue and offering a less than rosie outlook. The company cites a decline in leather and watch sales. Who is wearing a watch these days anyway. I usually do but i take it off. You look at your phone. You do. You have a watch on your wrist. Then theres the apple watch. Rackspace warning Current Quarter revenues will miss wall street expectation. The main reason a strong dollar and Quarterly Results from jackinthebox. Boosted by strong sales. Now lets get into what is referred to as whale watching. The filings from the worlds most powerful investors. Warren buffets firm unloading its 41 million shares of exxon mobil in the latest quarter. It only held that investment since the Third Quarter of 2013. Berkshire also selling a smaller stake in conoco phillips. As for what they have been buying, they purchased 15. 6 million shares of deere and added 6. 5 million shares of ibm to its holdings. That brings it to 77 million shares. Thats been the huge question we have been asking. With ibms shares struggling warren buffet said he would be buying. Turns out he was. Thats amazing to me. Yeah were going to get the chance to talk to him on monday of next week. Monday of next week. Well be in omaha sitting down with him going over the annual shareholders letter. But i want to hear about ibm in particular. Well see what he thinks is interesting. Its more than 300,000 employees. All of these different business units. This is going to sound like a broad question. Im sure somebody from ibm is watching. What is ibm . What does that mean . What do they do . You tell with a lot of companies how they make their money but for me its hard to tell what they are doing. Theyre in the middle of a major overhaul. Hardware is all but gone. Warren buffet has been the one people were wondering would he continue to stay in there and have faith. If you talk to people in it part of the problem is you used to have on site it people and you still do but theres a movement now to change and everything is done on the cloud and remote. So you wonder are they evolving or leading, or lagging . I dont know. The change in how i. T. Is being done. Theyre moving the cloud but the cloud doesnt have the moet. When it was in your office you couldnt get rid of it. Thats what i mean. If you had 50 ibm consultants on site they were engrained. But the business is a faster growing higher margin business if they can get there. What surprised me they sat down last year sometimes in the last six or seven months and he said what big players in cloud are us amazon and he named a third and it wasnt ibm. It was not ibm which surprised me too. Something we half joked about last year and id like to get our viewers thoughts on this. I called with the doing away of the term Cloud Computing. Cloud is just a return to the way things used to be where you have a centralized server. Hotmail is effectively Cloud Computing. If youre not in the clouds then what are you . Your dial up. Warren wrote a 20 11 letter and said he hoped the shares would lag so he would buy i dont think he necessarily hoped that the operational business would suffer the way it has but nonetheless the fact that hes buying shows some level of confidence. Guys i was off. I said more than 300,000 employees. Do you know how many they have . 431,000 employees and by the way, wall street not optimistic. There are 26 analysts that cover ibm. The average rating is a hold and the average price target is 161. 80. The stock is at 161. So the majority of wall street sees basically no upside. So i wonder what warren buffet sees that wall street doesnt. Well get a chance to ask him on monday morning. Just a few days from now. Cool. In a meantime lets think about notable moves going on. Soros eliminated stakes in the following, apple out aig out, google out. He is cutting his take in teva and upping his position in herba life. Carl icahn raised his stake in ebay to bring the holding to 46. 3 million. Lets get a check on your markets this morning. Lets take a look at the s p and dow futures here. Nasdaq may be the one to watch because theyre marching back toward the 5,000 mark. We are seeing a mixed open implied for the s p and dow down but really a couple of points folks. Theyre up exactly 1 . We talked about greece being the big story. Europe is a big story. Greece is up about 1. 5 right now. The german dax, ftse 100 all up as well. Overnight in asia they rose shanghai hang seng in hong kong up. Japan keeping its Monetary Policy as loose as it can go. Add libing oils. Wti crude down 1. 2 . I was in texas last week. Goldman with a report saying we dont think theres a supply demand balance coming any time soon. Big fight over oil. Brent, wti, natural gas all down today. Lets look at the ten year. The big story in the markets yesterday was the move higher in the ten year yield and that continues today. Were at 2. 15 . Historically still very very low. The fact we were at 1. 64 on january 30th. This is one of the steepest increases in the ten year yield that we have seen in years and by the way, mortgage rates, are posting their biggest shortterm jump in six years because of that move. Yeah but 2. 02 is the sticking point. We rallied toward that level and havent been able to break through it. Seeing it today that question where is the new levels are were talking about. Yeah a 30 move in yield and people say stocks move that much all the time. Bonds dont. Bonds are the super tanker that take a long time to move. Especially if theyre stuck off the port of los angeles. How is that for a segway. I was going to say well get to what this means for thouzinge Housing Market too. Lets check your currentcy markets here. Gold got whacked yesterday. Is there support at 1200 . We may find out. The price of gold is at 1204. Thats a level to watch. I mesdssed up. I said it was this monday. Its the following monday. March 2nd. Its the first week the first weekend in march. Sorry i got into new york late last night. Im a little confused on my days. Its 6 09 in the morning. I woke up in the middle of the night thinking i have to plan and pack for this weekend to leave. Its not this weekend. Its next weekend. Sorry. Breaking overnight we should tell you sonys ceo outlining his strategy for the Consumer Electronics giant. Great to see you. Tell us about the news today. Well its a long time becky since we heard any kind of offensive strategy for sony but this is the start of first kind of series of offensive measures that sony is about to outline because the last couple of years have all been about restructuring but as we saw in the latest quarterly numbers some of that is starting to pay off. This is a new three year blueprint that the ceo of sony outlined today. Some of the numerical targets are ambitious. Hes looking at 4. 2 billion. Thats four times larger than where theyre at right now. Also an roe target of 10 . But the details and the overall gist of the Business Strategy is going to be vindication from the analyst that said over the last two weeks that sony is ready to move on the offensive. Theyll focus on things theyre good at which is the image sensors. The stuff that goes into the smartphones and might be going into the Driverless Cars somewhere down the line. Playstation franchise, pictures music, all of that is working well but then theyre going to spin off some of the subsidiaries to give them more autonomy which means more responsibility should they not be profitable over the next coming quarters and there is the problem for sony. Theyre having problems in two areas. Particularly mobile immune kags communications and Television Operations which have not been profitable. Theyre on the high end from couples like apple and samsung. In the Television Operations the margins are thin there. Analysts have been wondering whether or not they can push these tuitions into the black out a sale and the ceo of the company said at this press conference that anything is possible including a sale or any other exit strategy. So you talked about the equity market being up at 8 year highs, one of the topper formers over the past year. Sonys stock is up 8 . Guys. Thank you for that. Well continue this conversation. Joining us now is lance, the editor at large. I guess the question is is this the moment we have been waiting for . Theres been lots of moments we thought were supposed to happen with sony. We thought they would break up and get their act together but they dont. Its been such a stuff year for sony and so much bad news. They really they have really gotten smacked around in areas. We remember a couple of years ago they shed the computer business. They used to be a leader. They used to be a leader in tvs. Now theyre getting kicked around by samsung and vizio. I remember when it was like that little l fwrksg, it wasnt a quality brand but its right there. Percentage points behind sony because the company didnt know how to innovate or market to the u. S. Market anymore. Its fallen behind. From my perspective i look at sony theyre a Great Technology company. Tremendous innovation. Like great smart home stuff but they have theyre not commercialized. Well often you dont see stuff commercialized or you dont see it marketed properly. They have built they built great tvs but they havent done much to market them lately. I know that they recently showed us a pair of smart glasses but this is classic sony right now where the glasses were interesting but they have a separate box and control system for battery life. Its the only way they could do it so they werent even at the same level as google but they were saying this is our future. Im going to editorialize but from a consumer. Not as a journalist or host or whatever it is. To me sony started to make their mistakes as a consumer when they started doing what i call the microsoft mistake which is where they started to try to make their own things. For example, everybody started going to traditional flash memory. They went to the memory stick. So they had their own technology i own a computer with one of those. They were more expensive and frustrating. Microsoft went with the zune and did the points to try to buy music. They didnt copy they tried to do their own thing. Apple had that mojo and i think sony might have felt like they were apple in a way and tried to do everything with their own standard which failed. In the late 90s thats who we often compared sony too was apple. There were similar yarities. At the precise moment that apple took off like a rocket sony just started to stall but it is interesting that this focus on come poenlts and all the stuff inside because thats a Good Business. Theres going to be a lot of business for sensor technology. Artificial intelligence, selfdriving car, thats a Good Business to get into. What about the hacking scandal. What does that do . I dont think it does anything. I know everybody is really focused on it. It was embarrassing. It was embarrassing for the company and their i. T. Department. No Business Impact . No. I cant imagine that it does. First of all, these hollywood types. Theyre used to it. They dont care. What they care about is howell does the show do or howell does your movie do at box office. Thats all they care about. Do they have to get rid of paschall. Was that the right move . It was a nod to this is embarrassing. But it wasnt a major thickng. The spider man picture, shes still involved with it. So its not like they showed her the door. They just had her step to a different level. Three years from now what will sony look like . Theyre going to sell off some stuff. Theyre not win ongning on the mobile side. Is it palatable inside japan to make these moves . They always had one hand behind their back. More than it used to be. I think they will accept it. They want this company theres a tremendous pride in these companies that are, you know part of these National Companies like sony but they dont want to see it go away. They want this guy to do whatever he needs to. We know it hasnt gone well but hes still in there fighting so this year he will make some of these really big moves. Given the fact that it hasnt worked over the past two years is he the right guy . Considering where he started, i think so. Is there another guy in the wings that we should know about. Not that i used to work for a Japanese Company years ago in another life far, far away. It was a legend in japan. Its more about hanging on. Its not its just surviving and slightly thriving and then you move up. It was the disrupter if you will. Viewed as the hero and savior. If he cant do it an due im not sure who else is out there. He was there six or seven years and didnt get there either. Often times if companies are based in japan and after a lot of business in america theres a huge culture problem. These companies that dont quite seem to know its almost like they didnt make the transition into the 21st century. The other possibility for sony would be a purchase for somebody like soft bank that seems to pour money into everything. Okay. Well look for that. Thank you for coming in. Its a pleasure. When we come back this morning, well get more on todays National Weather forecast. A freeze over the south as resident there is prep for potentially record setting cold. Plus why is the euro zone being so tough on greece . Michelle caught up with the man thats one of the reasons. He is a 36yearold professor that could be the next leader of spain. Why other European Finance ministers want to send him a message. First heres a look at this date back in history. Financial noise financial noise financial noise financial noise ameriprise asked people a simple question in retirement, will you have enough money to live life on your terms . I sure hope so. With healthcare costs, who knows. Umm. Everyone has retirement questions. So ameriprise created the exclusive confident retirement approach. Now you and your ameripise advisor. Can get the real answers you need. Start building your confident retirement today. A fresh half an inch to inch and a half fell this morning across nashville to residents here are waking up to the fresh snow covering ice that did not go away yesterday. The city Police Responded to more than 100 crashes just on tuesday and of the four fatalities reported since the storm on monday in tennessee, all were vehicle related. So stepping outside today unfortunately the music city is going to be dealing with a fresh bit of snow and the ice on the roadways but as you mentioned that record told potential three below zero is the forecast low tomorrow that would shatter the record of five. Not to mention a record cold High Temperature just into the teens for tomorrow. So the brutal cold air is the next big story. As you mentioned too schools are closed through the end of the week. Back to you. Thank you. Lets get back to the markets. Were waiting to see if theres progress on the Greece Bailout negotiations in europe. Michelle joins us with more on that and another up and comer in spain likely influencing these negotiations. Two things to watch for today. Were waiting for the greek government to get a loan extension request because they do not want to do a bailout extension request. These words are important to them. So this is to service the home constituent sy constituentcy. Its unlikely europe is going to accept this. Well see how it plays out and were waiting to see what the European Central bank will do. They meet every other wednesday to decide on things like should greece, should they keep giving breathing room to greeces banks. Theyre likely going to agree to continue to do so today. The question is how much. They could throw us a surprise which would be devastating. Second thing to watch for, lets get to now what we put in the tease which is one of the reasons why the euro zone is being so tough on greece. Because they fear if they give into demands to be looser with greece on the requirements for the bailout, that will start to give even more power to other similar types of movements in Different Countries including spain which brings me to a 36yearold professor who is leading in the polls in spain to be the next leader of the country. You see him there ponytail. Hes been in new york. He is leaving today. He was at columbia on monday. He came down to the new york stock exchange. We spoke for about 20 minutes. We did most of the interview in spanish. He is an extremely smart individual. He did some of it in english. Well play the english part of it for you so you can get a sense of who he is. If you you could say anything to an american audience, a again rally capitalist audience who would you say. We do things better. Such as . I think we have governments that work for people and not for the banks. Do you think youre going to be the next leader of spain. I will work for that. Youre only 36 years old. Would you be ready for that. Its a difficult question. I think that we need young people doing things. I think we have much old people with very old ideas. I think we need new ideas and new people ruling the government. So you can see passable english. In spanish incredibly articulate. He says new ideas but he is a selfdescribed man of the left. He wants to lower the retirement age. He wants to raise the minimum wage and restructure the countrys debts. Its a classic leftist po