Smart phones to google, and selling motorola to lenovo, a huge haircut, but google is holding onto the valuable patents and it looks like stuart was right. Tv ratings for president obamas state of the younion at the lowt since bill clintons. Stay tuned, Varney Company is about to begin. The economy grew just over 3 at an annual rate of the last three months of the last year and thats in line with wall street estimates except consumer spending, that was as strong as its been in three years and say it again, the economy is growing even after or maybe because of Government Spending is in a freefall. Two news items out of washington for you this morning. First, president obama pushes for the two largest trade deals in u. S. History while a major roadblock, those obstructionists following president obamas state of the Union Address, this comes from Senate Majority leader harry reid saying he will not bring legislation to the floor that will give the president greater trading power. And remember, Prime Minister has been blaming republicans for being the party of no and now even democrats are making it more difficult for the white house again. Next, the white house passed a farm bill with low cuts to food stamps. Tuting from an 80 billion dollar a year program. Thats 1 . The house originally sought out a 5 cut and now heads to the senate. If its passed the president is expected to sign it into law. Overseas earnings and less from the feds sent investors fleeing to the sidelines. A triple digit loss. Futures this morning though higher in part to two big tech stories we have for you. Google selling motor rolla division for a gigantic loss, do investors care . And facebook beating earnings expectations big time and all thanks to the growth in the mobile division. Weve got the details for you after the break. [ bell ringing, applause ] five tech stocks with more than a 10 . Change in aftermarket trading. All the tech stocks with a market cap. Of at least 50 billion. 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Thats what the strong buyers are waiting for. I think that could be 1, 2 or 3 . And ultimately by january of this year or december of this year, i think youll see the stocks up. But its a bruised and bloody raise. And the government how much money theyve been throwing at this problem we should be growing at 5, 6, 7 , so im not going to applaud a nearly 2 1 2 year print. I think that the economy is sluggish and the buyers need to see some good Economic News like what could be in the jobs report next friday or more good growth news, but thats going to ultimately what saves the stocks. Charles here is the thing, scott. Weve had the most incredible stock market rally and one of the top ten in anyones lifetime during a period of sluggish recovery not just for last year, but for the last several years. How do you make the two connect . Well, just like what weve seen happen in the emerging markets. We saw a really, a race for yield. And thats why weve seen the stocks outpace themselves. Now, these guys got out in front of themselves just like the guys that bought gold got out in front of themselves at 1900 and 10year at 3 1 2, 4 . Folks got ahead of themselves and weve seen the correction and now we need to see good organic growth to support what the fed has been doing with the equity prices. And 3. 2 gdp isnt getting the job done. I hear the opening bell, go make money. See you later. The bell has rung and the market is trading up 56. Futures all over the place, initially we pulled back a little bit when that gdp number came out and then started to it gain momentum. To scott shelladys point. It feels like the street would like to see good news or at least better news, speaking of which, facebook, their earnings yesterday blew away the street and the company reporting the strong mobile growth up over 40 from last year, as you can see, the shares, first time theyve crossed, and out of the gait. Big news from google, selling motorola division that they just bought not too long ago to lenovo. Theyre going to get 2. 9 billion, but keep in mind, theyll keep a vast majority of the patents, a gigantic haircut. That stock up almost 4 . Quick, lets go to nicole. Youve got three big names, nicole, you want to start with exxon . All right, so exxonmobil profit dropped. The stock is to the down side, down 1. 8 and these are better than expected profits and theyre helping to take mastercard along with it, but visa is doing so well, up 3 , but you know, its worth 53 positive dow points, just like we saw boeing weighing 50 dow points and it looks like visa is helping out and target, were keeping an eye on target and weve learned more about the data breach pertaining to the fact that it was actually a vendor and thats how they got in and obviously took millions of americans personal information. Charles thats an ongoing story and weve had Elizabeth Mcdonald to give us details on it. Thank you, nicole, well be back later. Risky emerging market assets, turkey, looking less attractive as the fed cuts back on money printing, joining us now from dallas is market watcher charles sizemore. Charles, seems like the market treats some of these threats seem to come out of nowhere, and its emerging markets currency crisis thats the latest example. Well, it is and if you remember, a short time ago, a year, year and a half ago that we were all talking how overpriced emerging market currencies were and thats a big deal then. That the hot money was flowing into the emerging world and that was causing its own problems. That seems like a nice problem to have now, its gone in reverse, money is fleeing the country as fast as it can. You had bill gross putting out, derisk, going to treasury. Thats how quickly things can change. Charles i find it amazing that 2014 when the fed was going to be less accommodative. Yields were going to go through the roof and gold continuing to go down, those have been the best two performing assets so far this year. Lets talk quick because i know you have some expertise on these emerging markets. In the past theyve come lightning quick, major trimmers, but theyve kind of faded quickly and when said and done things worked out well. How afraid should we be . Well, the first thing i would say this is not 1997 again. This is not really a crisis, at least not yet. It can turn into one. Right now, its just a selloff. What weve had is so all of the emerging markets that are in trouble now. South africa, turkey, brazil, argentina, they always have big current account deficits. That doesnt matter right up until it does. It doesnt matter so as long as as you have good portfolio inflows, good foreign inflows coming into your economy. And what happened is now that the fed is backing off, now that theyre tapering. Theres a fear that, well, the money is not going to be there to plug this gap and people are getting in front of that. Right. By selling off the currencies. Right, i think another thing a we should point out they had their own unique geopolitical risk as well. W i want to move to the market. Google is selling the hand set business for, i dont know, you could say 8 to 10 billion loss if you do the math, but the stock is up. Charles, here is the thing, they keep the lucrative patents and feels like google can do no wrong even when its obvious theyve made a mistake and overpaid on this. Well, i dont know that they did overpay because once you strip out the cash and you strip out the settop boxes they sold off immediately after purchasing and once you strip out the Purchase Price to lenovo, theyre paying 4 billion to the paten patents, when you think about the land grab for the smart phone patent and everybody was bidding them up for fear of lawsuits. From googles perspective, thats insurance. 4 billion when youre google, when you have tens and tens and tens of billions in the bank sitting there nothing nothing, 4 billion for patent, thats insurance. Google has a short Attention Span and tend to go a million places at once and not follow up on anything and looks like in retrospect thats another case with the handset business. But with respect to the patents, i would say its insurance, insurance is a waste of money until you need it. Charles until you need it. Tell you something, i like the if a that theyre aggressive and out there and weve got to admit it, they really, in the eyes of investors at this point in time can do no wrong and charles you did no wrong this morning, well see you soon. Thank you. Charles and lets look at the strong makers therapy for a rare genetic disorder, this stock has been a monster, nicole, weve got it on the screen there, up 25. Right, so, obviously, lexion pharma. 19 setting new record highs, this is to treat rare genetic disorders and four above the estimates. 159. 82 is the record high for alexion. Charles amazing whats happening in the drug sector. President obama vowed in his state of the Union Address to act alone to complete his agenda using executive orders to act without legislative approval. My question is how much economic damage can the president s economic orders have . Lets ask someone who really knows. Mary kissel, a member of the wall street journals editorial board. Mary, a lot of people are saying, certain things he can get through, maybe its not a big deal, but it is a big deal. He controls some very powerful agencies. I think that the mess is completely missing the point on this executive action story. The issue is not whether the president is going to do something that the next president can undo. Its what hes already doing in the regulatory agencies. You have places like the Consumer Financial protection bureau, the equal Employment Community commission and department of labor issuing guidance to employers on stuff like, ill give you one example, criminal background checks, theyre saying to employers, well, sorry, guys, we want you to have less information about the quality of the people that youre hiring. They want to do the same thing on credit checks and theyre doing this really without any kind of scrutiny. So you know what . Maybe its good that the press is paying attention now to what the president is doing unilaterally without the consent of congress, but i tell you what, charles, its been going on for years now. Charles it has been going on for years. Weve seen the National LaborRelations Board and their pro union agenda and you know, boeing of all companies, theyve given them such a hard time and you know, it will be dangerous. And costly, costly. And costly, just look at this, theres been an antidiscrimination agenda throughout this administration that is piling on litigation costs from companies to banks, to auto lenders, to pay day lenders and others, and that ultimately has not just the cost to the company it has a cost to consumers because what are ceos going to do . Theyre going to say, now what . Ive got to pay for this somehow, so its coming out of your pocket. Charles and maybe cant discriminate against felons anymore. Sec topic, harry reid came out publicly opposing the president s agenda, at least his idea for two large trade deals. That would be probably the two largest in u. S. History if they ever went through. Here is the thing, mary, i dont think a lot of democrats realize or will acknowledge the fact that they blew it when they had the filibuster Proof Congress fighting over the spoils and that, you know, we all use the term obstructionist, but theyve got a lot of obstruction on their own as well. Weve seen this as well. The president says im a freetrader and harry reid plays the bad guy and you wonder if theres coordination between the white house and the Majority Leaders Office because theres nothing, but good that can come by the trade deals. By rejecting it, not just bad for the u. S. Economy a costless way to open up new markets, its bad for consumers, they dont get the choice, and potentially lower costs, but its a slap in the face to our allies. Look at japan. Its taken us 30 years to convince japan to get into a trade deal like this, and now harry reid is saying, well, cause of my Labor Union Supporters at home, i guess we dont really need to do this . When you see the gdp number that we printed this morning . Its nuts, absolutely nuts. Its crazy. Charles were glad youre watching and spent time with us this morning. Thank you. Charles right now check on the big board, up 85, thats an okay move. Listen we know these markets are volatile and up 85, theres going to be a lot of movement today. Buckle up, folks. The haters say that facebook is losing its cool factor. That might not be the case, it turns out the company is cashing in big time on mobile ads and yes, tech is the future, weve been talking about it, more next. My dad has aor afib. Brillation, he has the most common kind. Its not caused by a heart valve problem. Dad, it says your afib ps you at 5 times greater risk of a stroke. Thats why i take my warfarin every day. But it looks like maybe we should ask your doctor about pradaxa. In a clinical trial, pradaxa® Dabigatran Etexilate mesylate . Wasroven superior to warfarin at reducing the risk of stroke. And unlike warfarin, with no regular blood tests or dietary restrictions. Hey thks for calling my doctor. Sure. Pradaxa is not for people with artificial heart valves. Dont stop taking pradaxa without talking to your doctor. Stopping increases your rk of stroke. 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Cme group how the world advanc. All right. Lets check on the big board, i promised you volatility and were getting it. Up 85 when we went to break and up 58 when we come back. Market will be all over the place. We started off strong and fallen off a lot. Gold is acting probably the way that gold should october. Down 19 at 1242. A lot of people thought 1250 would be a s