Morning. Its a busy morning for retail and well get some Quarterly Results from American Eagle, dicks and Urban Outfitters. Dupont saying the severe Winter Weather and the situation in ukraine will impact sales. And apple pushing Record Companies for exclusive first releases of songs through itunes. And all show long well bring you the best of softbanks interview, his criticism of Wireless Service in the u. S. And his thoughts on alibaba and yahoo and the 300year plan, carl. I know you like that. Think the long term. Its a long game. Jcpenney is a big gainer in the premarket. Citi upgrades the Department Store chain to buy from neutral. The firm says it believes pennys deliver positive comps in line with guidance as they fix their home and kid categories and takes out what they are calling inappropriate merchandise. The title of the report is american comeback story, gives. It fits and we feel it. And its not the first upgrade weve seen lately and, again, the squeeze will be on today. Its been interesting, of course, watching this for years now from the ascension of ron johnson and ackman into the boardroom and then that complete and total disaster that followed. To then mr. Olman coming in to a number of my Hedge Fund Guys in there all thinking it was going to be a big turnaround and it was easy to accomplish and watching the stock go to 5 and here were starting to see some momentum perhaps and those saying, well, liquidity issues are off the table for now and theyre generating cash or at least they may be. But theres still a lot of questions here. Thats the core point that citi is making, they believe the liquidity concerns are overblown that they will by the end of the year have 2 billion in the bank and the trough of 1 billion probably in the Third Quarter because theyre going to be able to push the comps higher and stay out of fashion, you know, thats the area that theyre not going to compete so much on much more the home side of things and indeed kids, you know. And a lot of this circles back to what they are calling space disrupt aion during the lt couple of years when it comes to home and kids which is about a quarter of the mix according to citi. And got earnings from American Eagle and Dick Sporting goods and Urban Outfitters. And Courtney Reagan at hq to break down the results. Good morning, carl. The headline for the most recent batch of retail earnings, could have been worse. Urban outfitters logging short on revenue. The retailers namesake chain falling 9 but comp sales surging 20 at urbans free people brand and 10 higher at anthropologie, and wells fargo thinks the market is focused too heavily at the weaker results and overlooking impressive results at the other brands. Issued a light warning saying customer reaction to spring merchandise at anthropologie and free people has been strong but given continued challenges facing the namesake brand the company remains, quote, very cautious about the current quarter. American eagle outfitters are surprising the street with both in earnings and a sales beat, though, the company did guide to the low end of the previous range so expectations werent particularly high. American eag ffles interim ceo noting difficult mac macro conditions but also saying merchandise and Customer Experience fell short of the companys expectations. Samestore sales fell 7 and the retailers conditions remain challenging adding Severe Weather has contributed to weak demand in the current quarter. Shares lower on the results in the premarket. Dicks Sporting Goods matching estimates and slightly beating on revenues and posting a strock 7. 3 gain in samestore sales and posting strong margins something few others can boost from the fourth quarter. The retailer believes it can post doubledigit Earnings Growth this year. Thats probably one of the retail standouts that were going to see today. Carl, back to you. Courtney reagan, thank you for that. For more on all things retail, lets bring in the cnbc retail analyst who always brings a fresh set of eyes to upgrades and downgrades. Does citi have a point on jcp . The street loves a great turnaround story and i think here certainly weve removed some of the nearterm liquidity issues, you know, certainly have things bottom, reassured vendors, yes. Do i believe that this story is really taking hold and really going to turn around . Not necessarily, look at the Competitive Landscape and look how theyve permanently scared away a good portion of their customers, but the Home Business has been a wreck. Its gone to 12 of the business to 20. Could it get a little bit better . Sure. Are positive comps good enough . How positive do they need to be in the remainder of the year . Theyre not. Think about the last two years of comps down huge so just to say that they will have positive comps and thats the driver, thats just not enough here. Weve really got to see an acceleration in the business. But there is surely with a brand of this size physically across the United States huge latent power. This was a stock that traded at 85 and more recently the peak was 42. Sure. You can make an awful lot of money with small gains at the bottom if you went in at this level. Sure. Certainly, again, i think a youll see a lot of upgrades just based on the fact that weve removed a lot of these nearterm frightening issues like liquidity could i double my money . Do you know what do you have a price target . No, i dont have a price target. I would stay away from jcpenney, if they do low singledigit comps and margins continue to decline, because the competitive environment is still incredibly tough and theyre going to still have to jam the coupons down consumers throats to get them back in the stores. American eagles in for a tough couple of quarters, right . Carl you and i three years ago stood here and had a conversation about margins being down almost 1,000 basis points in the teen space and were still having the same conversation today. There are too many stores. Were talking promotional environment. And i think that teen retailers are significantly underestimating the power of fast fashion. They are looking at for q1 sales down seven to nine. And inventory up seven to nine. And in an environment where its all h m, right . Exactly. Are they going to have to reposition the way hollister appears to be repositioning . Its interesting the teen space keeps saying to us, you know, were going to shorten lead times and get our fashion better but it just doesnt seem to happen. They are getting killed by fast fashion, who is nimible and quicker, thats where the consumer and dollar is going. How do the same stores being up 20 at free people or 10 at anthropologie, because clearly there they are doing something right. Why cant they bring it out to the entire business . If you look at Urban Outfitters, comps were down 9 but free people and anthro are doing well. They are fresh and interesting. So, there are stories that are working, you know, the footwork category is working incredibly well, but what the apparel players have to do is, a, reduce stores. The footprints are still too large and second become more like fast fashion and more nimble and give the consumer the freshness and what they want. You mentioned stories that are working, macys with an upgrade and dicks making good on its promise back in early february. The comps were up 7 at dicks and its all about footwear. Weve talked about that footwear is the new handbag, the new accessory. Thats where the consumer is spending their money. There are definitely spaces working out there, you know, accessories, footwear and certain apparel players that have differentiated concepts. Its a tough industry to get your head around. Nice to see you stateside, stacy. See you later on. Dupont is blaming the weather for a challenging first quarter, warning that storms and frozen temperatures have delayed the start of the planting season. It also says the political unrest in ukraine has delayed seed deliveries. Dupont runs a factory in the central part of the country. Its sticking by its 2014 earnings forecast of 4. 20 to 4. 45 a share. Apparently they produce maze seeds and Sunflower Seeds and rapeseeds in this factories. Who knew that globalization had taken us there . I have no idea. If jim is here, he loves to talk some dupont. Enjoys it very much without a doubt. Titanium dioxide. The toothpaste stuff . Yeah. Listen, you look at the stock and theres nothing to complain about. Theyve had a number of challenges along the way. But theyve been able to convince investors to go along for the ride here and it has been largely a good one over the last year as dupont has done any number of things. Well see whether this is a new challenge that means much of anything to shareholders. When we come back this morning david is bringing us a little present. The ceo of softbank, whose company the parent of sprint has a message for the u. S. When it comes to the wireless wars. Well hear what he told faber in a couple of minutes. One more look at futures trying to get some traction here but mostly futures are flat. Return on investment wall isnt a street. Isnt the only return im looking forward to. For some, every dollar is earned with sweat, sacrifice, courage. Which is why usaa is honored to help our members with everything from investing for retirement to saving for college. Our commitment to current and former military members and their families is without equal. Masayoshi son is the ceo of japans softbank. Its a company focused on the internet. It has 1,300 separate investments centered around the growth of that platform particularly in mobile. Such as a 37 stake in alibaba, 42. 5 of yahoo japan and an 80 ownership stake in sprint. Mr. Son is here in the u. S. This week as he often is but particularly in washington, d. C. , with a message. What is the richest man in the country of japan saying . Well, hes saying your speeds here in the u. S. When it comes to what youre delivering to the home and to the phone are nowhere near what they could be if you let me do my thing. Today in the state the Wireless Connectivity is, like, five megabits to ten megabits per second. The landline broadband is 20 to 30 megabit per second up to. Average is a little slower. But we would like to provide up to 200 megabit per seconds. 200. Yes. Tenfold what i may be getting on my current broadband connection. Yes. Thats the target we have. 200. Yes. Really . Up to. You believe that thats a real number . Yes, yes. We already have in japan today 20 to 60 megabits per second. And we have the Technology Already testing in the city of tokyo 700 megabit per second on the street, not in the laboratory. On the street, 700 . Yes. 700 . Yes. I can do anything with that. Yeah, yes. How many years could you make it happen . You could start having those in the next couple of years, but in the several years we will have nationwide coverage of that kind. Were in washington, d. C. , i would assume youre having this conversation with those who might make a decision about your desire for more scale. Theyve been pretty outspoken saying we like four, fours working well for us. Do you think you can change their point of view . American people will have to decide, you know, should we have the world Class Network and, you know, with the competitive price. U. S. Is the only country that post paid users Contract Price is going up. This is the only country. All the rest of the world the price is going down. Its very competitive market. The speed is high. The u. S. Is the only market the price keep on going up, going up in the hightech Industry Price keep on going up which is very unusual. And the speed is actually going down. Why is that, you know . America have to decide. Why is that. And whats the solution. Although it will be the department of justice and the fcc who decide not necessarily americans. Well, its a discussion that need to take place by american people. Do u. S. People realize the reality . You think you can win that argument . I dont know. I dont know. Im just throwing a stone into the pond. Right . So im just making a wakeup call. There it is, the wakeup call from mr. Son, of course, trying to win his way if you can through the american regulatory system. He wont say thats the case. Today a big speech in front of the American Chamber of commerce about what the world here in the states would be like if you were able to bring significantly greater speeds to bear both into the home and in to every device wherever you were. When we talk about scale and well have a lot more about this later in the program, were talking about his desire, no surprise, to buy tmobile or merge with tmobile. That is the focus. And this is simply i think his case trying to be made to change the tide if you will which has clearly gone against the idea that there will be there will be an allowance made by u. S. Regulators for four that was what i was talking about, four wireless carriers to go to three. The problem is the country is so big its very difficult on get a new entrant. And his argument works against him. As things stand with four theres the possibility either of the other two could muscle up and take on the larger two. If you go to three, game over. You dont have the possibility of new entrants doubling down. His argument will be and youll hear more of it, i dont have enough scale to make the investments i need to in my business and neither will tmobile or sprint separately. The Balance Sheets and capacity is simply not large enough. You have the two giant carriers in verizon and at t and why not create a third, this is their argument, that actually can bring to bear the resources both from the capital side and Everything Else to really put the money to work. If we can get speeds like hes talking about, that would change a lot. You would by the way, you get into the home, you know, you bring 50, 100 megabits into the home, forget 700 which hes saying they are delivering on the street in a test in tokyo, you are talking about a whole new world. Can he offer a Huge Investment and a price war at the same time . Come on. I asked that question. Its a great question. Im glad you brought it up. He said i want a reasonable return. Just a reasonable return. But it is a very valid question, sime been. I like the way he says theyre throwing a stone in the pond which has a Ripple Effect image and given his wealth on the forbes billionaires list he has a couple of stones in his pocket, so to speak. So to speak. And hes known as a guy who will keep coming. Unbelievable. New york times deal book with some breaking news regarding sac capital changing their name to point 72 Asset Management which is an illusion to their address 72 cummins point road in connecticut. Suggesting the times says they will not be changing locations. It was announced in a letter to employees and becomes effective on april 7th. When we come back, art cashin with his market words of wisdom ahead of the opening bell. One more look at the premarket and well get the opening bell in ten minutes when street signs comsquawk on the street comes right back. Comes right ba. No two people have the same financial goals. Pnc investments works with you to understand yours and helps plan for your retirement. Talk to a pnc investments Financial Advisor today. Is really what makes it slike two deals in one. He 1,000 fuel reward card salesperson 2 actually, getting a great car with 42 highway miles per gallon makes it like two deals in one. Salesperson 1 point is theres never been a better time to buy a jetta tdi clean diesel. Avo during the first ever volkswagen tdi clean diesel event get a great deal on a jetta tdi. It gets 42 highway miles per gallon. And get a 1,000 fuel reward card. Its like two deals in one. Volkswagen has the most tdi clean diesel models of any brand. Hurry in and get a 1,000 fuel reward card and 0. 9 apr for 60 months on tdi models. Apple is reportedly pushing Record Companies to offer new songs exclusively through its itunes store. The l. A. Times says such a move will make those songs unavailable at least at first through streaming Services Like spotfy and pandora. The paper says apple executives think those Ondemand Services are hurting download sales pretty interesting for the 16 billion business. And downloads are down so far this year, 12 , 13 between albums and singles. 80 of downloads are through itunes and also hiding behind the idea that its streaming their main attack. Of course, if they can make it exclusive to itunes it means its not downloadable on android and therefore you have albums exclusive to the iphone which i think is important. When i first heard about spotfy someone was explaining it meaning the ownership model is dead. You dont have to own a song. You can just stream it whatever you want, put it in. In fact, i have it and it is exactly that. Amazon is quietly has begun a music service. There is also some speculation that perhaps if the price of the prime service at amazon is raised, that will be incorporated within it. So, thats Something Else to watch as we sort of keep an eye on this entire ecosystem of music. Yep. By the way apple getting an upgrade that well talk about after the break. Opening bell a few minutes away. Squawk on the street is coming right back. Right back. My sinuses are acting up and ive got this runny nose. I better take something. Truth is, sudafed pe pressure and pain wont treat all of your symptoms. Really . Alka seltzer plus severe sinus fights your tough sinus symptoms plus your runny nose. Oh what a relief it is [ indistinct shouting ] [ male announcer ] time and sales data. Splitsecond stats. [ indistinct shouting ] its so close to the options floo